# EDGAR Filing Document

**Accession Number:** 0000744822
**File Stem:** 0000744822-26-000050
**Filing Date:** 2026-6
**Character Count:** 1114700
**Document Hash:** 7da193f5561349e5696e29d3148a7c7e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000744822-26-000050.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0000744822-26-000050

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 132

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260622

**DATE AS OF CHANGE**: 20260622

**EFFECTIVENESS DATE**: 20260622

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000744822

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04008
- **FILM NUMBER:** 261105605

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY OVERSEAS FUND
- **DATE OF NAME CHANGE:** 19861228

## Series and Classes Contracts Data

### Fidelity Series Emerging Markets Opportunities Fund (Series ID: S000023605)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000069437 | Fidelity Series Emerging Markets Opportunities Fund | FEMSX           |

### Fidelity Global Commodity Stock Fund (Series ID: S000024314)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000071913 | Fidelity Global Commodity Stock Fund                  | FFGCX           |
| C000071914 | Fidelity Advisor Global Commodity Stock Fund: Class A | FFGAX           |
| C000071916 | Fidelity Advisor Global Commodity Stock Fund: Class C | FCGCX           |
| C000071917 | Fidelity Advisor Global Commodity Stock Fund: Class M | FFGTX           |
| C000071918 | Fidelity Advisor Global Commodity Stock Fund: Class I | FFGIX           |
| C000205035 | Fidelity Advisor Global Commodity Stock Fund: Class Z | FIQRX           |

### Fidelity Series International Growth Fund (Series ID: S000026866)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000080862 | Fidelity Series International Growth Fund | FIGSX           |

### Fidelity Series International Value Fund (Series ID: S000026867)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000080864 | Fidelity Series International Value Fund | FINVX           |

### Fidelity Series International Small Cap Fund (Series ID: S000026868)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000080866 | Fidelity Series International Small Cap Fund | FSTSX           |

### Fidelity Series Canada Fund (Series ID: S000058342)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000191329 | Fidelity Series Canada Fund | FCNSX           |

### Fidelity Series Emerging Markets Fund (Series ID: S000062805)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000203452 | Fidelity Series Emerging Markets Fund | FHKFX           |

### Fidelity SAI International SMA Completion Fund (Series ID: S000065216)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000211072 | Fidelity SAI International SMA Completion Fund | FISZX           |

### Fidelity Series Overseas Fund (Series ID: S000065700)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000212505 | Fidelity Series Overseas Fund | FSOSX           |

### Fidelity Infrastructure Fund (Series ID: S000066805)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000215141 | Fidelity Infrastructure Fund | FNSTX           |

### Fidelity Sustainable Emerging Markets Equity Fund (Series ID: S000075294)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000234201 | Fidelity Advisor Sustainable Emerging Markets Equity Fund: Class M | FSYNX           |
| C000234202 | Fidelity Advisor Sustainable Emerging Markets Equity Fund: Class C | FSYKX           |
| C000234203 | Fidelity Advisor Sustainable Emerging Markets Equity Fund: Class I | FSZIX           |
| C000234204 | Fidelity Advisor Sustainable Emerging Markets Equity Fund: Class Z | FSZZX           |
| C000234205 | Fidelity Sustainable Emerging Markets Equity Fund                  | FSYJX           |
| C000234206 | Fidelity Advisor Sustainable Emerging Markets Equity Fund: Class A | FSWAX           |

### Fidelity Sustainable International Equity Fund (Series ID: S000075295)

| Class ID   | Class Name                                                      | Ticker Symbol   |
|:---|:---|:---|
| C000234207 | Fidelity Advisor Sustainable International Equity Fund: Class M | FSYMX           |
| C000234208 | Fidelity Advisor Sustainable International Equity Fund: Class C | FSYCX           |
| C000234209 | Fidelity Advisor Sustainable International Equity Fund: Class I | FSQIX           |
| C000234210 | Fidelity Advisor Sustainable International Equity Fund: Class Z | FSQZX           |
| C000234211 | Fidelity Sustainable International Equity Fund                  | FSYRX           |
| C000234212 | Fidelity Advisor Sustainable International Equity Fund: Class A | FSQAX           |

### Fidelity SAI Sustainable Emerging Markets Equity Fund (Series ID: S000075895)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000235236 | Fidelity SAI Sustainable Emerging Markets Equity Fund | FSSGX           |

### Fidelity SAI Sustainable International Equity Fund (Series ID: S000075896)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000235237 | Fidelity SAI Sustainable International Equity Fund | FSSEX           |

### Fidelity Series Select International Small Cap Fund (Series ID: S000077858)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000238445 | Fidelity Series Select International Small Cap Fund | FSSJX           |

### Fidelity Series Sustainable Emerging Markets Fund (Series ID: S000080315)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000242614 | Fidelity Series Sustainable Emerging Markets Fund | FEMYX           |

### Fidelity Series Sustainable Non-U.S. Developed Markets Fund (Series ID: S000080316)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000242615 | Fidelity Series Sustainable Non-U.S. Developed Markets Fund | FNDMX           |

?xml version='1.0' encoding='ASCII'? Prospectus - Investment Objective

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number <u>811-04008</u>

<u>Fidelity Investment Trust</u>

(Exact name of registrant as specified in charter)

<u>245 Summer St., Boston, MA 02210</u>

(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp; (Zip code)

Nicole Macarchuk, Secretary

245 Summer St.

<u>Boston, Massachusetts 02210</u>

(Name and address of agent for service)

Registrant's telephone number, including area code:

<u>617-563-7000</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp; Date of fiscal year end: | &nbsp;&nbsp; October 31 |
| &nbsp;&nbsp; Date of reporting period: | &nbsp;&nbsp; April 30, 2026 |

---

Item 1.

<u>Reports to Stockholders</u>

This report on Form N-CSR relates solely to the Registrant's Fidelity SAI Sustainable Emerging Markets Equity Fund, Fidelity Global Commodity Stock Fund, Fidelity Series Emerging Markets Fund, Fidelity Series Emerging Markets Opportunities Fund, Fidelity Series International Growth Fund, Fidelity Series International Small Cap Fund, Fidelity Series International Value Fund, Fidelity SAI Sustainable International Equity Fund, Fidelity Infrastructure Fund, Fidelity SAI International SMA Completion Fund, Fidelity Sustainable Emerging Markets Equity Fund, Fidelity Series Canada Fund, Fidelity Sustainable International Equity Fund, Fidelity Series Sustainable Emerging Markets Fund, Fidelity Series Sustainable Non-U.S. Developed Markets Fund, Fidelity Series Overseas Fund, and Fidelity Series Select International Small Cap Fund (the "Funds").

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity Advisor® Global Commodity Stock Fund Class A : FFGAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $65  | 1.11% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131021_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915757.101 2121-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity Advisor® Sustainable International Equity Fund Class A : FSQAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $67  | 1.30% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130926_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915820.101 6463-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® SAI Sustainable International Equity Fund<br> **Fidelity® SAI Sustainable International Equity Fund : FSSEX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® SAI Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® SAI Sustainable International Equity Fund  | $39  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $159861268<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 70%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.4 |
| Industrials | 22.4 |
| Information Technology | 15.3 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Communication Services | 2.4 |
| Consumer Staples | 2.2 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6549_20260430_AA.jpg) <br>|

---

Common Stocks - 96.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.8 <br>

---

| | |
|:---|:---|
| Japan | 21.6 |
| United Kingdom | 13.5 |
| Netherlands | 10.7 |
| United States | 8.9 |
| Spain | 4.7 |
| Germany | 4.6 |
| Taiwan | 4.5 |
| Sweden | 4.5 |
| France | 3.7 |
| Others | 23.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6549_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Sweden - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.1<br>|
| Astrazeneca PLC | 3.5<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.0<br>|
|  | 30.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6549_20260430_1.jpg)<br>| ![](img130952_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915832.101 6549-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series International Value Fund<br> **Fidelity® Series International Value Fund : FINVX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series International Value Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series International Value Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $17578246537<br>|
| Number of Holdings | 107<br>|
| Portfolio Turnover | 49%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.1 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.7 |
| Information Technology | 3.0 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2283_20260430_AA.jpg) <br>|

---

Common Stocks - 97.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.4 <br>

---

| | |
|:---|:---|
| Japan | 20.6 |
| United Kingdom | 17.1 |
| United States | 13.2 |
| Germany | 10.9 |
| France | 8.9 |
| Italy | 4.8 |
| Spain | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2283_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 17.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 10.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 8.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 3.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Switzerland - 2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 13.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Banco Santander SA | 3.8<br>|
| Mitsubishi UFJ Financial Group Inc | 3.0<br>|
| Shell PLC ADR | 2.9<br>|
| Sumitomo Mitsui Financial Group Inc | 2.5<br>|
| Lloyds Banking Group PLC | 2.3<br>|
| Roche Holding AG | 2.3<br>|
| HSBC Holdings PLC | 2.1<br>|
| British American Tobacco PLC | 2.1<br>|
| Toyota Motor Corp | 1.9<br>|
| Rio Tinto PLC | 1.9<br>|
|  | 24.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2283_20260430_1.jpg)<br>| ![](img130943_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915764.101 2283-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series International Growth Fund<br> **Fidelity® Series International Growth Fund : FIGSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series International Growth Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series International Growth Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $17617957974<br>|
| Number of Holdings | 60<br>|
| Portfolio Turnover | 63%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.8 |
| Information Technology | 22.6 |
| Materials | 12.3 |
| Health Care | 7.3 |
| Consumer Discretionary | 7.0 |
| Financials | 5.8 |
| Communication Services | 0.9 |
| Consumer Staples | 0.8 |

---

Common Stocks 98.2 <br> Preferred Stocks 0.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.5

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2282_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.5 |

---

---

| | |
|:---|:---|
| United States | 22.4 |
| Japan | 13.6 |
| France | 12.3 |
| United Kingdom | 11.8 |
| Netherlands | 9.6 |
| Sweden | 9.0 |
| Switzerland | 6.3 |
| Taiwan | 5.2 |
| Germany | 2.4 |
| Others | 7.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2282_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 22.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 12.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 9.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Switzerland - 6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.3<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.2<br>|
| Schneider Electric SE | 3.7<br>|
| CRH PLC | 3.7<br>|
| Safran SA | 3.4<br>|
| BAE Systems PLC | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.1<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 3.0<br>|
|  | 39.9 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2282_20260430_1.jpg)<br>| ![](img130946_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915763.101 2282-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Emerging Markets Opportunities Fund<br> **Fidelity® Series Emerging Markets Opportunities Fund : FEMSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Emerging Markets Opportunities Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Emerging Markets Opportunities Fund  | $1  | 0.01% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $31597284986<br>|
| Number of Holdings | 247<br>|
| Portfolio Turnover | 56%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 37.0 |
| Financials | 18.7 |
| Consumer Discretionary | 9.5 |
| Industrials | 7.1 |
| Communication Services | 7.0 |
| Materials | 6.4 |
| Energy | 3.5 |
| Consumer Staples | 2.9 |
| Health Care | 2.4 |
| Utilities | 2.0 |
| Real Estate | 0.9 |

---

Common Stocks 96.4 <br> Preferred Stocks 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2117_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.6 |

---

---

| | |
|:---|:---|
| Taiwan | 24.8 |
| China | 23.2 |
| Korea (South) | 17.9 |
| India | 9.8 |
| Brazil | 5.4 |
| South Africa | 3.6 |
| United States | 3.4 |
| Saudi Arabia | 2.2 |
| Mexico | 2.2 |
| Others | 7.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2117_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 24.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 23.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 17.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Saudi Arabia - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 17.6<br>|
| Samsung Electronics Co Ltd | 7.4<br>|
| SK Hynix Inc | 5.4<br>|
| Tencent Holdings Ltd | 3.9<br>|
| Alibaba Group Holding Ltd | 2.6<br>|
| China Construction Bank Corp H Shares | 2.2<br>|
| Delta Electronics Inc | 1.6<br>|
| MediaTek Inc | 1.2<br>|
| HDFC Bank Ltd | 1.2<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 1.0<br>|
|  | 44.1 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2117_20260430_1.jpg)<br>| ![](img130948_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915755.101 2117-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® SAI International SMA Completion Fund<br> **Fidelity® SAI International SMA Completion Fund : FISZX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® SAI International SMA Completion Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® SAI International SMA Completion Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1915144626<br>|
| Number of Holdings | 43<br>|
| Portfolio Turnover | 50%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.2 |
| Information Technology | 21.1 |
| Financials | 18.0 |
| Health Care | 7.8 |
| Materials | 7.4 |
| Consumer Discretionary | 7.0 |
| Consumer Staples | 4.0 |

---

Common Stocks 89.4 <br> Preferred Stocks 1.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.5

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3358_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 89.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.5 |

---

---

| | |
|:---|:---|
| Japan | 28.1 |
| Korea (South) | 12.2 |
| United States | 9.5 |
| Germany | 7.8 |
| Spain | 7.0 |
| Italy | 6.7 |
| Sweden | 5.2 |
| Chile | 4.1 |
| Ireland | 3.7 |
| Others | 15.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3358_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 28.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 12.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 7.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 7.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Ireland - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 15.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| SK Hynix Inc | 7.5<br>|
| CaixaBank SA | 7.0<br>|
| Renesas Electronics Corp | 6.2<br>|
| Mitsubishi Heavy Industries Ltd | 5.5<br>|
| Samsung Electronics Co Ltd | 4.7<br>|
| Investor AB B Shares | 4.7<br>|
| Antofagasta PLC | 4.1<br>|
| Coca-Cola HBC AG | 4.0<br>|
| Kingspan Group PLC | 3.7<br>|
| ITOCHU Corp | 3.1<br>|
|  | 50.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img3358_20260430_1.jpg)<br>| ![](img130957_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915809.101 3358-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity® Sustainable International Equity Fund : FSYRX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Sustainable International Equity Fund  | $54  | 1.05% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130921_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915819.101 6462-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity Advisor® Sustainable International Equity Fund Class I : FSQIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $54  | 1.05% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130924_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915823.101 6466-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity Advisor® Sustainable International Equity Fund Class C : FSYCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $106  | 2.05% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130925_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915821.101 6464-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity® Sustainable Emerging Markets Equity Fund : FSYJX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Sustainable Emerging Markets Equity Fund  | $69  | 1.25% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130927_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915825.101 6468-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Overseas Fund<br> **Fidelity® Series Overseas Fund : FSOSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Overseas Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Overseas Fund  | $0 A | 0.01% |

---

A Amount represents less than $.50

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $17590233963<br>|
| Number of Holdings | 80<br>|
| Portfolio Turnover | 80%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 28.0 |
| Financials | 23.3 |
| Information Technology | 13.5 |
| Health Care | 10.2 |
| Materials | 9.1 |
| Consumer Staples | 5.0 |
| Consumer Discretionary | 3.8 |
| Utilities | 3.5 |
| Energy | 1.8 |
| Communication Services | 0.8 |

---

Common Stocks 99.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3468_20260430_AA.jpg) <br>|

---

Common Stocks - 99.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.0 <br>

---

| | |
|:---|:---|
| Japan | 20.1 |
| United Kingdom | 16.3 |
| United States | 13.8 |
| Germany | 8.1 |
| France | 7.6 |
| Spain | 7.6 |
| Netherlands | 6.1 |
| Italy | 4.2 |
| Taiwan | 2.6 |
| Others | 13.6 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 16.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 7.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Spain - 7.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 13.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.3<br>|
| Schneider Electric SE | 2.9<br>|
| Banco Santander SA | 2.9<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 2.6<br>|
| Rolls-Royce Holdings PLC | 2.6<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.3<br>|
| Roche Holding AG | 2.3<br>|
|  | 27.0 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img3468_20260430_1.jpg)<br>| ![](img130942_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915811.101 3468-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Infrastructure Fund<br> **Fidelity® Infrastructure Fund : FNSTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Infrastructure Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Infrastructure Fund  | $47  | 0.89% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $161806295<br>|
| Number of Holdings | 51<br>|
| Portfolio Turnover | 59%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Utilities | 51.7 |
| Industrials | 17.3 |
| Information Technology | 16.9 |
| Energy | 6.2 |
| Real Estate | 2.6 |
| Communication Services | 1.4 |

---

Common Stocks 96.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3488_20260430_AA.jpg) <br>|

---

Common Stocks - 96.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.9 <br>

---

| | |
|:---|:---|
| United States | 82.1 |
| Taiwan | 4.8 |
| United Kingdom | 4.7 |
| Germany | 2.1 |
| Mexico | 1.9 |
| Spain | 1.8 |
| Canada | 1.6 |
| Finland | 1.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3488_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 82.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Spain - 1.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Finland - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| NRG Energy Inc | 7.0<br>|
| NVIDIA Corp | 6.5<br>|
| NextEra Energy Inc | 5.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 4.8<br>|
| Vistra Corp | 4.6<br>|
| American Electric Power Co Inc | 4.1<br>|
| Constellation Energy Corp | 4.0<br>|
| National Grid PLC | 3.1<br>|
| Sempra | 2.9<br>|
| Entergy Corp | 2.8<br>|
|  | 45.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img3488_20260430_1.jpg)<br>| ![](img131013_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915812.101 3488-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class Z : FSZZX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $60  | 1.10% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130928_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915830.101 6473-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Sustainable Non-U.S. Developed Markets Fund<br> **Fidelity® Series Sustainable Non-U.S. Developed Markets Fund : FNDMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Sustainable Non-U.S. Developed Markets Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Sustainable Non-U.S. Developed Markets Fund  | $1  | 0.01% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $35191870<br>|
| Number of Holdings | 366<br>|
| Portfolio Turnover | 64%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.7 |
| Industrials | 22.3 |
| Information Technology | 12.1 |
| Materials | 8.1 |
| Health Care | 6.4 |
| Consumer Discretionary | 5.8 |
| Energy | 5.0 |
| Consumer Staples | 3.4 |
| Utilities | 1.9 |
| Communication Services | 1.8 |
| Real Estate | 1.1 |

---

Common Stocks 93.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 6.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img7318_20260430_AA.jpg) <br>|

---

Common Stocks - 93.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 6.4 <br>

---

| | |
|:---|:---|
| United States | 16.3 |
| Japan | 16.1 |
| Canada | 13.7 |
| United Kingdom | 11.9 |
| France | 5.7 |
| Germany | 5.4 |
| Netherlands | 4.5 |
| Spain | 3.7 |
| Switzerland | 3.7 |
| Others | 19.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img7318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 16.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Switzerland - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 19.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 3.1<br>|
| CRH PLC | 2.0<br>|
| Schneider Electric SE | 1.7<br>|
| BAE Systems PLC | 1.7<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 1.7<br>|
| Mitsubishi Heavy Industries Ltd | 1.3<br>|
| KBC Group NV | 1.3<br>|
| Franco-Nevada Corp | 1.3<br>|
| Banco Santander SA | 1.3<br>|
| National Bank of Canada | 1.2<br>|
|  | 16.6 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img7318_20260430_1.jpg)<br>| ![](img130939_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915835.101 7318-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity Advisor® Sustainable International Equity Fund Class Z : FSQZX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $47  | 0.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130922_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915824.101 6467-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity Advisor® Global Commodity Stock Fund Class Z : FIQRX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class Z  | $43  | 0.74% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131017_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915761.101 3276-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® SAI Sustainable Emerging Markets Equity Fund<br> **Fidelity® SAI Sustainable Emerging Markets Equity Fund : FSSGX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® SAI Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® SAI Sustainable Emerging Markets Equity Fund  | $52  | 0.95% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $121975188<br>|
| Number of Holdings | 133<br>|
| Portfolio Turnover | 109%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 35.3 |
| Financials | 18.5 |
| Consumer Discretionary | 10.3 |
| Industrials | 9.7 |
| Communication Services | 5.6 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 92.0 <br> International Equity Funds 2.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6548_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.4 |

---

---

| | |
|:---|:---|
| China | 26.1 |
| Taiwan | 24.2 |
| Korea (South) | 16.1 |
| United States | 8.4 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.2 |
| Australia | 1.6 |
| Others | 8.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6548_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 24.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 8.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.4<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.8<br>|
| iShares ESG Aware MSCI EM ETF | 2.6<br>|
| China Construction Bank Corp H Shares | 2.2<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| Bizlink Holding Inc | 1.5<br>|
|  | 42.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6548_20260430_1.jpg)<br>| ![](img130953_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915831.101 6548-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class M : FSYNX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $96  | 1.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130929_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915828.101 6471-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity Advisor® Global Commodity Stock Fund Class M : FFGTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $79  | 1.36% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131018_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915759.101 2124-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Sustainable Emerging Markets Fund<br> **Fidelity® Series Sustainable Emerging Markets Fund : FEMYX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Sustainable Emerging Markets Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Sustainable Emerging Markets Fund  | $1  | 0.01% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $21355706<br>|
| Number of Holdings | 207<br>|
| Portfolio Turnover | 90%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 35.2 |
| Financials | 21.4 |
| Consumer Discretionary | 8.7 |
| Communication Services | 6.0 |
| Industrials | 5.8 |
| Materials | 3.5 |
| Health Care | 2.7 |
| Consumer Staples | 2.6 |
| Energy | 2.2 |
| Utilities | 1.6 |
| Real Estate | 0.8 |

---

Common Stocks 90.3 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 9.5

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img7317_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 90.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 9.5 |

---

---

| | |
|:---|:---|
| Taiwan | 23.1 |
| China | 20.8 |
| Korea (South) | 17.7 |
| United States | 10.2 |
| India | 7.9 |
| Brazil | 5.0 |
| South Africa | 3.5 |
| Mexico | 2.3 |
| Saudi Arabia | 1.7 |
| Others | 7.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img7317_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 23.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 20.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 17.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Saudi Arabia - 1.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 16.3<br>|
| Samsung Electronics Co Ltd | 7.0<br>|
| SK Hynix Inc | 5.3<br>|
| Tencent Holdings Ltd | 3.5<br>|
| China Construction Bank Corp H Shares | 2.4<br>|
| Alibaba Group Holding Ltd | 2.1<br>|
| Delta Electronics Inc | 2.0<br>|
| HDFC Bank Ltd | 1.4<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 1.2<br>|
| MediaTek Inc | 1.1<br>|
|  | 42.3 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img7317_20260430_1.jpg)<br>| ![](img130940_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915834.101 7317-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class I : FSZIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $68  | 1.25% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130930_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915829.101 6472-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class A : FSWAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class A  | $82  | 1.50% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130932_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915826.101 6469-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series International Small Cap Fund<br> **Fidelity® Series International Small Cap Fund : FSTSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series International Small Cap Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series International Small Cap Fund  | $0 A | 0.01% |

---

A Amount represents less than $.50

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3215599940<br>|
| Number of Holdings | 202<br>|
| Portfolio Turnover | 42%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 34.6 |
| Information Technology | 14.9 |
| Consumer Discretionary | 14.3 |
| Financials | 9.9 |
| Materials | 7.3 |
| Consumer Staples | 4.0 |
| Real Estate | 3.8 |
| Health Care | 3.7 |
| Energy | 2.7 |
| Communication Services | 1.9 |
| Utilities | 0.2 |

---

Common Stocks 97.2 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2284_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 97.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.7 |

---

---

| | |
|:---|:---|
| Japan | 28.6 |
| United Kingdom | 16.9 |
| Sweden | 11.3 |
| Netherlands | 6.0 |
| United States | 5.9 |
| Canada | 3.8 |
| France | 3.8 |
| Italy | 3.2 |
| Australia | 3.1 |
| Others | 17.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2284_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 28.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 16.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Lagercrantz Group AB B Shares | 3.3<br>|
| AddTech AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 3.0<br>|
| BE Semiconductor Industries NV | 2.5<br>|
| Aalberts NV | 2.4<br>|
| KBC Ancora | 2.4<br>|
| Interpump Group SpA | 2.3<br>|
| Azbil Corp | 2.3<br>|
| Howden Joinery Group PLC | 2.1<br>|
| InterContinental Hotels Group PLC ADR | 1.9<br>|
|  | 25.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2284_20260430_1.jpg)<br>| ![](img130944_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915765.101 2284-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity Advisor® Global Commodity Stock Fund Class C : FCGCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $108  | 1.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131020_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915758.101 2123-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Select International Small Cap Fund<br> **Fidelity® Series Select International Small Cap Fund : FSSJX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Select International Small Cap Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Select International Small Cap Fund  | $1  | 0.01% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $279392250<br>|
| Number of Holdings | 191<br>|
| Portfolio Turnover | 22%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 22.9 |
| Materials | 13.0 |
| Financials | 12.7 |
| Consumer Discretionary | 10.9 |
| Information Technology | 9.8 |
| Real Estate | 7.8 |
| Health Care | 6.0 |
| Energy | 4.6 |
| Consumer Staples | 4.4 |
| Communication Services | 4.1 |
| Utilities | 1.8 |

---

Common Stocks 97.7 <br> Preferred Stocks 0.3 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6955_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 97.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.0 |

---

---

| | |
|:---|:---|
| Japan | 38.3 |
| United Kingdom | 12.0 |
| Australia | 7.5 |
| Spain | 4.9 |
| Sweden | 4.2 |
| France | 3.6 |
| Germany | 3.5 |
| Italy | 3.2 |
| Israel | 3.2 |
| Others | 19.6 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6955_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 38.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 12.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Israel - 3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 19.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Nova Ltd (Israel) | 1.3<br>|
| Hokuhoku Financial Group Inc | 1.3<br>|
| Resonac Holdings Corp | 1.3<br>|
| Zegona Communications plc | 1.2<br>|
| AT&S Austria Technologie & Systemtechnik AG | 1.2<br>|
| Bezeq The Israeli Telecommunication Corp Ltd | 1.1<br>|
| SWCC Corp | 1.1<br>|
| Suruga Bank Ltd | 1.0<br>|
| Vallourec SACA | 1.0<br>|
| Bankinter SA | 1.0<br>|
|  | 11.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6955_20260430_1.jpg)<br>| ![](img130941_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915833.101 6955-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity Advisor® Global Commodity Stock Fund Class I : FFGIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class I  | $50  | 0.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131019_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915760.101 2125-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable International Equity Fund<br> **Fidelity Advisor® Sustainable International Equity Fund Class M : FSYMX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable International Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $80  | 1.55% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $25966127<br>|
| Number of Holdings | 86<br>|
| Portfolio Turnover | 69%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.3 |
| Industrials | 22.6 |
| Information Technology | 15.4 |
| Health Care | 9.4 |
| Consumer Discretionary | 5.8 |
| Utilities | 5.4 |
| Materials | 3.2 |
| Consumer Staples | 2.4 |
| Communication Services | 2.4 |
| Energy | 0.9 |
| Real Estate | 0.8 |

---

Common Stocks 96.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6462_20260430_AA.jpg) <br>|

---

Common Stocks - 96.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 3.4 <br>

---

| | |
|:---|:---|
| Japan | 21.7 |
| United Kingdom | 13.7 |
| Netherlands | 10.7 |
| United States | 8.5 |
| Spain | 4.7 |
| Taiwan | 4.6 |
| Germany | 4.6 |
| Sweden | 4.4 |
| France | 3.7 |
| Others | 23.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6462_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 21.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 4.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.2<br>|
| Astrazeneca PLC | 3.6<br>|
| ITOCHU Corp | 3.5<br>|
| Schneider Electric SE | 3.0<br>|
| ING Groep NV | 2.8<br>|
| Koninklijke KPN NV | 2.4<br>|
| Sumitomo Mitsui Financial Group Inc | 2.3<br>|
| ORIX Corp | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
|  | 30.8 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6462_20260430_1.jpg)<br>| ![](img130923_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915822.101 6465-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Emerging Markets Fund<br> **Fidelity® Series Emerging Markets Fund : FHKFX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Emerging Markets Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Emerging Markets Fund  | $1  | 0.01% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7879066995<br>|
| Number of Holdings | 144<br>|
| Portfolio Turnover | 97%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.7 |
| Financials | 18.1 |
| Industrials | 8.8 |
| Consumer Discretionary | 8.8 |
| Communication Services | 6.1 |
| Materials | 5.3 |
| Energy | 3.0 |
| Health Care | 3.0 |
| Consumer Staples | 2.4 |
| Utilities | 2.2 |
| Real Estate | 0.5 |

---

Common Stocks 92.9 <br> International Equity Funds 3.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3225_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.0 |

---

---

| | |
|:---|:---|
| China | 23.9 |
| Taiwan | 23.6 |
| Korea (South) | 17.1 |
| India | 8.0 |
| United States | 7.4 |
| Brazil | 5.0 |
| Mexico | 3.0 |
| South Africa | 3.0 |
| Saudi Arabia | 1.5 |
| Others | 7.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3225_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 17.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 8.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Mexico - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Saudi Arabia - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 15.1<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.3<br>|
| Tencent Holdings Ltd | 3.5<br>|
| iShares Core MSCI Emerging Markets ETF | 3.1<br>|
| Alibaba Group Holding Ltd | 2.4<br>|
| Delta Electronics Inc | 2.0<br>|
| MediaTek Inc | 1.5<br>|
| China Construction Bank Corp H Shares | 1.4<br>|
| Anglogold Ashanti Plc | 1.4<br>|
|  | 41.5 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img3225_20260430_1.jpg)<br>| ![](img130949_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915800.101 3225-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Series Canada Fund<br> **Fidelity® Series Canada Fund : FCNSX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Series Canada Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Series Canada Fund  | $0 A | 0.00%B |

---

A Amount represents less than $.50

B Amount represents less than 0.005%

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10165357934<br>|
| Number of Holdings | 70<br>|
| Portfolio Turnover | 26%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 31.4 |
| Energy | 18.6 |
| Materials | 15.7 |
| Industrials | 11.7 |
| Consumer Discretionary | 7.1 |
| Consumer Staples | 7.0 |
| Information Technology | 6.8 |
| Communication Services | 0.7 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3036_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.0 |

---

---

| | |
|:---|:---|
| Canada | 90.1 |
| United States | 4.4 |
| Brazil | 3.3 |
| Chile | 1.4 |
| Zambia | 0.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3036_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Zambia - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Toronto Dominion Bank | 6.1<br>|
| Canadian Natural Resources Ltd | 5.8<br>|
| Bank of Montreal | 5.0<br>|
| Suncor Energy Inc | 4.8<br>|
| Franco-Nevada Corp | 4.7<br>|
| Royal Bank of Canada | 4.7<br>|
| Canadian Pacific Kansas City Ltd | 4.5<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| Shopify Inc Class A | 4.1<br>|
| National Bank of Canada | 3.8<br>|
|  | 47.6 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img3036_20260430_1.jpg)<br>| ![](img130950_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915796.101 3036-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Commodity Stock Fund<br> **Fidelity® Global Commodity Stock Fund : FFGCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Commodity Stock Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® Global Commodity Stock Fund  | $47  | 0.81% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1483328707<br>|
| Number of Holdings | 59<br>|
| Portfolio Turnover | 65%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **TOP INDUSTRIES**<br> **(% of Fund's net assets)** | **TOP INDUSTRIES**<br> **(% of Fund's net assets)** |
| Oil, Gas & Consumable Fuels | 37.1 |
| Metals & Mining | 29.9 |
| Chemicals | 15.0 |
| Food Products | 11.1 |
| Paper & Forest Products | 3.1 |
| Energy Equipment & Services | 1.8 |

---

Common Stocks 98.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.0

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2120_20260430_AA.jpg) <br>|

---

Common Stocks - 98.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.0 <br>

---

| | |
|:---|:---|
| United States | 54.2 |
| Canada | 18.2 |
| Australia | 8.5 |
| Brazil | 6.0 |
| China | 5.1 |
| Finland | 2.3 |
| Chile | 1.2 |
| United Kingdom | 0.9 |
| Norway | 0.8 |
| Others | 2.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2120_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 54.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Canada - 18.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 6.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;China - 5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Finland - 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Chile - 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United Kingdom - 0.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Norway - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Exxon Mobil Corp | 8.2<br>|
| Corteva Inc | 7.9<br>|
| Archer-Daniels-Midland Co | 5.6<br>|
| Bunge Global SA | 5.5<br>|
| Nutrien Ltd | 4.9<br>|
| BHP Group Ltd | 3.9<br>|
| Shell PLC | 3.6<br>|
| Chevron Corp | 3.0<br>|
| Imperial Oil Ltd | 3.0<br>|
| ConocoPhillips | 2.6<br>|
|  | 48.2 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img2120_20260430_1.jpg)<br>| ![](img131016_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915756.101 2120-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Sustainable Emerging Markets Equity Fund<br> **Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class C : FSYKX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Sustainable Emerging Markets Equity Fund for the period November 1, 2025 to April 30, 2026. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last six months?**

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $123  | 2.25% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $33108664<br>|
| Number of Holdings | 132<br>|
| Portfolio Turnover | 145%<br>|

---

**What did the Fund invest in?** (as of April 30, 2026)

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 34.9 |
| Financials | 18.3 |
| Consumer Discretionary | 10.4 |
| Industrials | 9.4 |
| Communication Services | 5.5 |
| Materials | 4.1 |
| Health Care | 3.4 |
| Consumer Staples | 1.7 |
| Utilities | 1.4 |
| Real Estate | 1.1 |
| Energy | 0.9 |

---

Common Stocks 91.1 <br> International Equity Funds 3.6 <br> Short-Term Investments and Net Other Assets (Liabilities) 5.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img6468_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 91.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| International Equity Funds - 3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 5.3 |

---

---

| | |
|:---|:---|
| China | 26.0 |
| Taiwan | 23.8 |
| Korea (South) | 15.9 |
| United States | 9.3 |
| India | 5.9 |
| Brazil | 4.6 |
| South Africa | 2.9 |
| Mexico | 2.1 |
| Australia | 1.6 |
| Others | 7.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img6468_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 26.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 23.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 15.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;India - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;South Africa - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Mexico - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Australia - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 14.3<br>|
| Samsung Electronics Co Ltd | 6.8<br>|
| SK Hynix Inc | 4.6<br>|
| iShares ESG Aware MSCI EM ETF | 3.6<br>|
| Tencent Holdings Ltd | 3.4<br>|
| Alibaba Group Holding Ltd | 2.9<br>|
| Delta Electronics Inc | 2.6<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| Anglogold Ashanti Plc | 1.6<br>|
| MediaTek Inc | 1.5<br>|
|  | 43.4 |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img6468_20260430_1.jpg)<br>| ![](img130931_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9915827.101 6470-TSRS-0626 <br>|

---

Item 2.

<u>Code of Ethics</u>

Not applicable.

Item 3.

<u>Audit Committee Financial Expert</u>

Not applicable.

Item 4.

<u>Principal Accountant Fees and Services</u>

Not applicable.

Item 5.

<u>Audit Committee of Listed Registrants</u>

Not applicable.

Item 6.

<u>Investments</u>

(a) Not applicable.

(b) Not applicable

Item 7.

<u>Financial Statements and Financial Highlights for Open-End Management Investment Companies</u>

**Fidelity® Sustainable Emerging Markets Equity Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131307_1.jpg)

![](img131307_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_MAR-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Sustainable Emerging Markets Equity Fund](#Sub_Sec_Fund_6468_MAR-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6468_MAR-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_MAR-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_MAR-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_MAR-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_MAR-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Sustainable Emerging Markets Equity Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 91.1%** | &nbsp;&nbsp;**Common Stocks - 91.1%** | &nbsp;&nbsp;**Common Stocks - 91.1%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.6%  |  |  |
| Materials - 1.6% |  |  |
| Metals & Mining - 1.6% |  |  |
| Anglogold Ashanti Plc  | 5605 | 525357 |
| BRAZIL - 4.6%  |  |  |
| Consumer Discretionary - 0.9% |  |  |
| Household Durables - 0.2% |  |  |
| Cury Construtora e Incorporadora SA  | 12883 | 78206 |
| Specialty Retail - 0.7% |  |  |
| Vibra Energia SA  | 31011 | 208544 |
| TOTAL CONSUMER DISCRETIONARY |  | 286750 |
| Consumer Staples - 0.3% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Raia Drogasil SA  | 26119 | 115726 |
| Financials - 1.4% |  |  |
| Banks - 0.9% |  |  |
| Itau Unibanco Holding SA  | 27461 | 239517 |
| NU Holdings Ltd/Cayman Islands Class A (a) | 3137 | 45424 |
|  |  | 284941 |
| Capital Markets - 0.4% |  |  |
| Banco BTG Pactual SA unit  | 10125 | 121333 |
| Financial Services - 0.1% |  |  |
| StoneCo Ltd Class A  | 5304 | 58238 |
| TOTAL FINANCIALS |  | 464512 |
| Industrials - 0.6% |  |  |
| Ground Transportation - 0.6% |  |  |
| Localiza Rent a Car SA  | 21115 | 195765 |
| Utilities - 1.4% |  |  |
| Electric Utilities - 1.0% |  |  |
| Axia Energia SA  | 24445 | 306316 |
| Water Utilities - 0.4% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 21985 | 147179 |
| TOTAL UTILITIES |  | 453495 |
| TOTAL BRAZIL |  | 1516248 |
| CHINA - 26.0%  |  |  |
| Communication Services - 4.1% |  |  |
| Entertainment - 0.4% |  |  |
| Netease Inc  | 1603 | 37525 |
| Netease Inc ADR  | 758 | 89073 |
|  |  | 126598 |
| Interactive Media & Services - 3.7% |  |  |
| Baidu Inc A Shares (a) | 5841 | 92235 |
| Tencent Holdings Ltd  | 18721 | 1136969 |
|  |  | 1229204 |
| TOTAL COMMUNICATION SERVICES |  | 1355802 |
| Consumer Discretionary - 7.4% |  |  |
| Automobile Components - 0.4% |  |  |
| Ningbo Joyson Electronic Corp H Shares  | 54526 | 117160 |
| Automobiles - 1.2% |  |  |
| BYD Co Ltd H Shares  | 30123 | 400701 |
| Broadline Retail - 3.2% |  |  |
| Alibaba Group Holding Ltd  | 56572 | 932364 |
| Alibaba Group Holding Ltd ADR  | 416 | 54862 |
| JD.com Inc A Shares  | 3199 | 48465 |
|  |  | 1035691 |
| Diversified Consumer Services - 0.3% |  |  |
| New Oriental Education & Technology Group Inc ADR  | 2070 | 113208 |
| Hotels, Restaurants & Leisure - 2.3% |  |  |
| H World Group Ltd ADR  | 7048 | 363959 |
| Luckin Coffee Inc ADR (a) | 1517 | 53095 |
| Meituan B Shares (a)(b)(c) | 6033 | 64910 |
| Trip.com Group Ltd ADR (a) | 3329 | 180465 |
| Yum China Holdings Inc  | 2086 | 101067 |
|  |  | 763496 |
| TOTAL CONSUMER DISCRETIONARY |  | 2430256 |
| Consumer Staples - 0.7% |  |  |
| Beverages - 0.5% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 2100 | 62748 |
| Kweichow Moutai Co Ltd A Shares (China)  | 575 | 116642 |
|  |  | 179390 |
| Personal Care Products - 0.2% |  |  |
| Mao Geping Cosmetics Co LTD H Shares  | 6742 | 62259 |
| TOTAL CONSUMER STAPLES |  | 241649 |
| Financials - 5.2% |  |  |
| Banks - 2.6% |  |  |
| China Construction Bank Corp H Shares  | 623929 | 704291 |
| China Merchants Bank Co Ltd H Shares  | 6958 | 42114 |
| Industrial & Commercial Bank of China Ltd H Shares  | 128891 | 116124 |
|  |  | 862529 |
| Insurance - 2.6% |  |  |
| China Life Insurance Co Ltd H Shares  | 41852 | 154394 |
| China Pacific Insurance Group Co Ltd H Shares  | 17370 | 75826 |
| People's Insurance Co Group of China Ltd/The H Shares  | 40956 | 28023 |
| PICC Property & Casualty Co Ltd H Shares  | 102000 | 184249 |
| Ping An Insurance Group Co of China Ltd H Shares  | 50438 | 409966 |
|  |  | 852458 |
| TOTAL FINANCIALS |  | 1714987 |
| Health Care - 2.3% |  |  |
| Biotechnology - 0.6% |  |  |
| Innovent Biologics Inc (a)(b)(c) | 6518 | 76114 |
| Zai Lab Ltd ADR (a) | 6052 | 130965 |
|  |  | 207079 |
| Life Sciences Tools & Services - 0.9% |  |  |
| Wuxi Apptec Co Ltd H Shares (b)(c) | 16388 | 287903 |
| Pharmaceuticals - 0.8% |  |  |
| Consun Pharmaceutical Group Ltd  | 56289 | 116639 |
| Hansoh Pharmaceutical Group Co Ltd (b)(c) | 28141 | 134786 |
|  |  | 251425 |
| TOTAL HEALTH CARE |  | 746407 |
| Industrials - 3.5% |  |  |
| Electrical Equipment - 1.6% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 4764 | 306054 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 6166 | 136610 |
| Sieyuan Electric Co Ltd A Shares (China)  | 2600 | 74516 |
|  |  | 517180 |
| Machinery - 1.9% |  |  |
| Airtac International Group  | 3654 | 171148 |
| Huaming Power Equipment Co Ltd A Shares (China)  | 26945 | 97082 |
| UBTech Robotics Corp Ltd H Shares (a) | 3119 | 42761 |
| Weichai Power Co Ltd H Shares  | 65988 | 328019 |
|  |  | 639010 |
| TOTAL INDUSTRIALS |  | 1156190 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 200 | 8205 |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 1766 | 65185 |
| Montage Technology Co Ltd A Shares (China)  | 7213 | 185380 |
|  |  | 250565 |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Xiaomi Corp B Shares (a)(b)(c) | 26231 | 98424 |
| TOTAL INFORMATION TECHNOLOGY |  | 357194 |
| Materials - 1.5% |  |  |
| Metals & Mining - 1.5% |  |  |
| MMG Ltd (a) | 175406 | 189243 |
| Zijin Mining Group Co Ltd H Shares  | 65626 | 304767 |
| TOTAL MATERIALS |  | 494010 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| China Resources Mixc Lifestyle Services Ltd (b)(c) | 12316 | 74383 |
| TOTAL CHINA |  | 8570878 |
| GREECE - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Eurobank SA  | 24912 | 107596 |
| National Bank of Greece SA  | 13379 | 210803 |
| TOTAL GREECE |  | 318399 |
| HUNGARY - 1.0%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| OTP Bank Nyrt  | 2154 | 288781 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Richter Gedeon Nyrt  | 768 | 32349 |
| TOTAL HUNGARY |  | 321130 |
| INDIA - 5.9%  |  |  |
| Communication Services - 0.9% |  |  |
| Wireless Telecommunication Services - 0.9% |  |  |
| Bharti Airtel Ltd  | 14187 | 283608 |
| Consumer Discretionary - 0.3% |  |  |
| Automobiles - 0.1% |  |  |
| Mahindra & Mahindra Ltd  | 1214 | 39817 |
| Broadline Retail - 0.2% |  |  |
| Meesho  | 23265 | 47708 |
| TOTAL CONSUMER DISCRETIONARY |  | 87525 |
| Energy - 0.8% |  |  |
| Oil, Gas & Consumable Fuels - 0.8% |  |  |
| Reliance Industries Ltd  | 18475 | 280210 |
| Financials - 3.2% |  |  |
| Banks - 2.8% |  |  |
| Axis Bank Ltd  | 6867 | 92107 |
| HDFC Bank Ltd  | 47061 | 384931 |
| HDFC Bank Ltd ADR  | 1250 | 31762 |
| ICICI Bank Ltd  | 21610 | 289982 |
| State Bank of India  | 11927 | 134912 |
|  |  | 933694 |
| Capital Markets - 0.1% |  |  |
| HDFC Asset Management Co Ltd (b)(c) | 1143 | 32798 |
| Consumer Finance - 0.3% |  |  |
| Bajaj Finance Ltd  | 8851 | 87917 |
| TOTAL FINANCIALS |  | 1054409 |
| Industrials - 0.6% |  |  |
| Construction & Engineering - 0.6% |  |  |
| Larsen & Toubro Ltd  | 4655 | 197752 |
| Information Technology - 0.1% |  |  |
| IT Services - 0.1% |  |  |
| Tata Consultancy Services Ltd  | 2442 | 64086 |
| TOTAL INDIA |  | 1967590 |
| INDONESIA - 0.2%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Telkom Indonesia Persero Tbk PT  | 225703 | 36921 |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Bank Central Asia Tbk PT  | 117609 | 39874 |
| TOTAL INDONESIA |  | 76795 |
| KOREA (SOUTH) - 15.9%  |  |  |
| Communication Services - 0.4% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| KT Corp  | 590 | 24463 |
| Entertainment - 0.3% |  |  |
| HYBE Co Ltd  | 575 | 103692 |
| TOTAL COMMUNICATION SERVICES |  | 128155 |
| Consumer Discretionary - 0.9% |  |  |
| Automobiles - 0.9% |  |  |
| Hyundai Motor Co  | 408 | 148833 |
| Kia Corp  | 1426 | 148024 |
| TOTAL CONSUMER DISCRETIONARY |  | 296857 |
| Consumer Staples - 0.3% |  |  |
| Personal Care Products - 0.3% |  |  |
| APR Corp/Korea  | 356 | 102879 |
| Financials - 1.5% |  |  |
| Banks - 1.5% |  |  |
| KB Financial Group Inc  | 1733 | 190991 |
| Shinhan Financial Group Co Ltd  | 2920 | 199566 |
| Woori Financial Group Inc  | 4126 | 94694 |
| TOTAL FINANCIALS |  | 485251 |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| Samsung Biologics Co Ltd (a)(b)(c) | 115 | 115396 |
| Industrials - 1.1% |  |  |
| Electrical Equipment - 0.9% |  |  |
| LS Electric Co Ltd  | 1505 | 290885 |
| Machinery - 0.2% |  |  |
| Samsung Heavy Industries Co Ltd (a) | 3979 | 88206 |
| TOTAL INDUSTRIALS |  | 379091 |
| Information Technology - 11.4% |  |  |
| Semiconductors & Semiconductor Equipment - 4.6% |  |  |
| SK Hynix Inc  | 1689 | 1515866 |
| Technology Hardware, Storage & Peripherals - 6.8% |  |  |
| Samsung Electronics Co Ltd  | 14833 | 2248005 |
| TOTAL INFORMATION TECHNOLOGY |  | 3763871 |
| TOTAL KOREA (SOUTH) |  | 5271500 |
| MALAYSIA - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| CIMB Group Holdings Bhd  | 15010 | 28998 |
| MEXICO - 2.1%  |  |  |
| Consumer Staples - 0.0% |  |  |
| Beverages - 0.0% |  |  |
| Fomento Economico Mexicano SAB de CV ADR  | 362 | 42802 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Grupo Financiero Banorte SAB de CV  | 20679 | 224541 |
| Regional SAB de CV  | 5032 | 42403 |
| TOTAL FINANCIALS |  | 266944 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Genomma Lab Internacional SAB de CV  | 52870 | 49878 |
| Industrials - 0.3% |  |  |
| Transportation Infrastructure - 0.3% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Series B  | 6991 | 92780 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Cemex SAB de CV ADR  | 9842 | 121057 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Corp Inmobiliaria Vesta SAB de CV ADR  | 3828 | 136277 |
| TOTAL MEXICO |  | 709738 |
| PERU - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Credicorp Ltd  | 525 | 170189 |
| PHILIPPINES - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Transportation Infrastructure - 0.7% |  |  |
| International Container Terminal Services Inc  | 19849 | 230583 |
| POLAND - 0.8%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 5856 | 152894 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Benefit Systems SA (a) | 113 | 124697 |
| TOTAL POLAND |  | 277591 |
| SAUDI ARABIA - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Al Rajhi Bank  | 11711 | 214049 |
| Saudi National Bank/The  | 17074 | 178820 |
| TOTAL SAUDI ARABIA |  | 392869 |
| SINGAPORE - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.2% |  |  |
| Sea Ltd Class A ADR (a) | 898 | 76222 |
| SOUTH AFRICA - 2.9%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Broadline Retail - 0.7% |  |  |
| Naspers Ltd Class N  | 4550 | 246382 |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| Shoprite Holdings Ltd  | 8490 | 143098 |
| Financials - 1.2% |  |  |
| Banks - 0.9% |  |  |
| Capitec Bank Holdings Ltd  | 657 | 170592 |
| Standard Bank Group Ltd  | 4572 | 87965 |
|  |  | 258557 |
| Financial Services - 0.3% |  |  |
| FirstRand Ltd  | 20899 | 110696 |
| TOTAL FINANCIALS |  | 369253 |
| Materials - 0.6% |  |  |
| Chemicals - 0.6% |  |  |
| Sasol Ltd (a) | 13469 | 187213 |
| TOTAL SOUTH AFRICA |  | 945946 |
| TAIWAN - 23.8%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| E.Sun Financial Holding Co Ltd  | 42886 | 43410 |
| Industrials - 1.4% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Bizlink Holding Inc  | 5238 | 471833 |
| Information Technology - 22.3% |  |  |
| Communications Equipment - 0.3% |  |  |
| Accton Technology Corp  | 1371 | 100727 |
| Electronic Equipment, Instruments & Components - 4.6% |  |  |
| Chroma ATE Inc  | 2063 | 141414 |
| Delta Electronics Inc  | 12175 | 856495 |
| Elite Material Co Ltd  | 2597 | 388197 |
| Hon Hai Precision Industry Co Ltd  | 8565 | 60704 |
| Yageo Corp  | 7182 | 73458 |
|  |  | 1520268 |
| Semiconductors & Semiconductor Equipment - 17.4% |  |  |
| ASE Technology Holding Co Ltd  | 28881 | 454140 |
| eMemory Technology Inc  | 440 | 55900 |
| MediaTek Inc  | 5913 | 495198 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 68185 | 4748592 |
|  |  | 5753830 |
| TOTAL INFORMATION TECHNOLOGY |  | 7374825 |
| TOTAL TAIWAN |  | 7890068 |
| THAILAND - 0.7%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Kasikornbank PCL  | 21767 | 130781 |
| Health Care - 0.1% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Bumrungrad Hospital Pcl  | 6750 | 37460 |
| Industrials - 0.2% |  |  |
| Transportation Infrastructure - 0.2% |  |  |
| Airports of Thailand PCL  | 39530 | 62579 |
| TOTAL THAILAND |  | 230820 |
| TURKEY - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Aerospace & Defense - 0.7% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 25225 | 234610 |
| UNITED ARAB EMIRATES - 0.8%  |  |  |
| Energy - 0.1% |  |  |
| Energy Equipment & Services - 0.1% |  |  |
| ADNOC Drilling Co PJSC  | 33610 | 51791 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 20399 | 76640 |
| Real Estate - 0.5% |  |  |
| Real Estate Management & Development - 0.5% |  |  |
| Aldar Properties PJSC  | 26177 | 54946 |
| Emaar Properties PJSC  | 29799 | 95731 |
| TOTAL REAL ESTATE |  | 150677 |
| TOTAL UNITED ARAB EMIRATES |  | 279108 |
| UNITED STATES - 0.4%  |  |  |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| BeOne Medicines Ltd H Shares (a) | 5150 | 116901 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $23,366,252) |  | <br> **30151540** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 3.6%** | &nbsp;&nbsp;**International Equity Funds - 3.6%** | &nbsp;&nbsp;**International Equity Funds - 3.6%** |
|  | Shares | Value ($)<br>|
| iShares ESG Aware MSCI EM ETF <br>(Cost $1,145,766)<br>| 23510 | **1202301** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.6%** | &nbsp;&nbsp;**Money Market Funds - 5.6%** | &nbsp;&nbsp;**Money Market Funds - 5.6%** | &nbsp;&nbsp;**Money Market Funds - 5.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $1,837,662)<br>| 3.69 | 1837294 | **1837662** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.3%**<br> (Cost $26,349,680)<br>| <br>**33191503** |
| **NET OTHER ASSETS (LIABILITIES) - (0.3)%**  | **(82839)** |
| **NET ASSETS - 100.0%** | **33108664** |

---

**Currency Abbreviations**

THB - Thai Baht <br> USD - United States Dollar

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Non-income producing.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $884,714 or 2.7% of net assets.

(c) 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 $884,714 or 2.7% of net assets.

(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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 814548 | 9670997 | 8647888 | 16637 | 5 | - | 1837662 | 1837294 | 0.0% |
| Total | 814548 | 9670997 | 8647888 | 16637 | 5 | - | 1837662 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 1804486 | 89073 | 1715413 | - |
| Consumer Discretionary | 3423992 | 1229628 | 2194364 | - |
| Consumer Staples | 646154 | 301626 | 344528 | - |
| Energy | 332001 | 51791 | 280210 | - |
| Financials | 5998191 | 2532243 | 3465948 | - |
| Health Care | 1098391 | 213192 | 885199 | - |
| Industrials | 3145880 | 647852 | 2498028 | - |
| Information Technology | 11559976 | - | 11559976 | - |
| Materials | 1327637 | 646414 | 681223 | - |
| Real Estate | 361337 | 286954 | 74383 | - |
| Utilities | 453495 | 453495 | - | - |
|  **International Equity Funds** | 1202301 | 1202301 | - | - |
|  **Money Market Funds** | 1837662 | 1837662 | - | - |
| **Total Investments in Securities:** | 33191503 | 9492231 | 23699272 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $24,512,018) | $31353841 |  |
| Fidelity Central Funds (cost $1,837,662) | 1837662 |  |
| Total Investment in Securities (cost $26,349,680) |  | $33191503 |
| Cash |  | 9636 |
| Foreign currency held at value (cost $2,665) |  | 2666 |
| Receivable for investments sold |  | 473184 |
| Receivable for fund shares sold |  | 106713 |
| Dividends receivable |  | 49634 |
| Distributions receivable from Fidelity Central Funds |  | 3540 |
| Prepaid expenses |  | 2 |
| Receivable from investment adviser for expense reductions |  | 9820 |
| Other receivables |  | 867 |
| **Total assets** |  | 33847565 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $614496 |  |
| Payable for fund shares redeemed | 50904 |  |
| Accrued management fee | 23231 |  |
| Distribution and service plan fees payable | 880 |  |
| Audit fee payable | 35454 |  |
| Other payables and accrued expenses | 13936 |  |
| **Total liabilities** |  | 738901 |
| **Net Assets**  |  | $33108664 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $26201830 |
| Total accumulated earnings (loss) |  | 6906834 |
| **Net Assets** |  | $33108664 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($1,408,373 ÷ 99,067 shares)(a) |  | $14.22 |
| Maximum offering price per share (100/94.25 of $14.22) |  | $15.09 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($470,134 ÷ 33,113 shares)(a) |  | $14.20 |
| Maximum offering price per share (100/96.50 of $14.20) |  | $14.72 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($523,690 ÷ 37,081 shares)(a) |  | $14.12 |
| **Fidelity Sustainable Emerging Markets Equity Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($28,890,369 ÷ 2,029,242 shares) |  | $14.24 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($546,652 ÷ 38,378 shares) |  | $14.24 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,269,446 ÷ 88,739 shares) |  | $14.31 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $213450 |
| Income from Fidelity Central Funds  |  | 16637 |
| Income before foreign taxes withheld |  | $230087 |
| Less foreign taxes withheld |  | (19147) |
| **Total income** |  | 210940 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $99099 |  |
| Performance adjustment | 2482 |  |
| Distribution and service plan fees | 4468 |  |
| Custodian fees and expenses | 34430 |  |
| Independent trustees' fees and expenses | 25 |  |
| Registration fees | 82604 |  |
| Audit fees | 57990 |  |
| Legal | 18 |  |
| Miscellaneous | 19 |  |
| Total expenses before reductions | 281135 |  |
| Expense reductions | (140858) |  |
| Total expenses after reductions |  | 140277 |
| **Net Investment income (loss)** |  | 70663 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 460757 |  |
| Fidelity Central Funds | 5 |  |
| Foreign currency transactions | (4957) |  |
| Futures contracts | (9885) |  |
| Total net realized gain (loss) |  | 445920 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $30,559)  | 4062754 |  |
| Assets and liabilities in foreign currencies | 734 |  |
| Total change in net unrealized appreciation (depreciation) |  | 4063488 |
| **Net gain (loss)** |  | 4509408 |
| **Net increase (decrease) in net assets resulting from operations** |  | $4580071 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $70663 | $73073 |
| &nbsp;&nbsp;Net realized gain (loss) | 445920<br>| 177160<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 4063488 | 2187241<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 4580071<br>| 2437474<br>|
| Distributions to shareholders | (154227)<br>| (76282)<br>|
| Share transactions - net increase (decrease) | 15036496<br>| 4868913<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 19462340<br>| 7230105<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 13646324 | 6416219<br>|
| &nbsp;&nbsp;End of period | $33108664 | $13646324 |

---

**Financial Highlights** 

**Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class A**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.84 | $9.10 | $7.36 | $6.55 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .03  | .07  | .09  | .08  | .03  |
| Net realized and unrealized gain (loss)  | 2.45  | 2.76  | 1.77  | .77  | (3.48)  |
| Total from investment operations  | 2.48  | 2.83  | 1.86  | .85  | (3.45)  |
| Distributions from net investment income  | (.10)  | (.09)  | (.12)  | (.04)  | -  |
| Total distributions  | (.10)  | (.09)  | (.12)  | (.04)  | -  |
| Net asset value, end of period  | $14.22 | $11.84 | $9.10 | $7.36 | $6.55 |
| **Total Return** D,E,F | 21.17% <br>| 31.37%  | 25.58%  | 12.93%  | (34.50)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | 2.86% I | 3.94%  | 4.98%  | 6.44%  | 8.77% I,J |
| Expenses net of fee waivers, if any  | 1.50% I<br>| 1.50%  | 1.50%  | 1.49%  | 1.57% I |
| Expenses net of all reductions, if any  | 1.49% I | 1.49%  | 1.49%  | 1.48%  | 1.56% I |
| Net investment income (loss)  | .43% I | .73%  | 1.01%  | 1.06%  | .51% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1408 | $727 | $308 | $224 | $164 |
| Portfolio turnover rate K | 145% I<br>| 94%  | 108%  | 119%  | 84% I |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Audit fees are not annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class M**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.81 | $9.08 | $7.35 | $6.54 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .01  | .05  | .06  | .06  | .01  |
| Net realized and unrealized gain (loss)  | 2.45  | 2.75  | 1.77  | .77  | (3.47)  |
| Total from investment operations  | 2.46  | 2.80  | 1.83  | .83  | (3.46)  |
| Distributions from net investment income  | (.07)  | (.07)  | (.10)  | (.02)  | -  |
| Total distributions  | (.07)  | (.07)  | (.10)  | (.02)  | -  |
| Net asset value, end of period  | $14.20 | $11.81 | $9.08 | $7.35 | $6.54 |
| **Total Return** D,E,F | 21.00% <br>| 31.12%  | 25.18%  | 12.65%  | (34.60)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | 3.28% I | 4.27%  | 5.14%  | 6.57%  | 9.01% I,J |
| Expenses net of fee waivers, if any  | 1.75% I<br>| 1.75%  | 1.75%  | 1.74%  | 1.82% I |
| Expenses net of all reductions, if any  | 1.75% I | 1.74%  | 1.74%  | 1.73%  | 1.82% I |
| Net investment income (loss)  | .17% I | .48%  | .76%  | .81%  | .26% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $470 | $361 | $245 | $184 | $164 |
| Portfolio turnover rate K | 145% I<br>| 94%  | 108%  | 119%  | 84% I |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Audit fees are not annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class C**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.74 | $9.03 | $7.30 | $6.52 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | (.02)  | - D | .02  | .02  | (.01)  |
| Net realized and unrealized gain (loss)  | 2.43  | 2.74  | 1.77  | .76  | (3.47)  |
| Total from investment operations  | 2.41  | 2.74  | 1.79  | .78  | (3.48)  |
| Distributions from net investment income  | (.03)  | (.03)  | (.06)  | -  | -  |
| Total distributions  | (.03)  | (.03)  | (.06)  | -  | -  |
| Net asset value, end of period  | $14.12 | $11.74 | $9.03 | $7.30 | $6.52 |
| **Total Return** E,F,G | 20.63% <br>| 30.41%  | 24.71%  | 11.96%  | (34.80)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |
| Expenses before reductions  | 3.70% J | 4.81%  | 5.70%  | 7.07%  | 9.51% J,K |
| Expenses net of fee waivers, if any  | 2.25% J<br>| 2.25%  | 2.25%  | 2.25%  | 2.32% J |
| Expenses net of all reductions, if any  | 2.24% J | 2.24%  | 2.24%  | 2.24%  | 2.32% J |
| Net investment income (loss)  | (.32)% J | (.02)%  | .26%  | .31%  | (.24)% J |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $524 | $311 | $231 | $185 | $163 |
| Portfolio turnover rate L | 145% J<br>| 94%  | 108%  | 119%  | 84% J |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Amount represents less than $.005 per share.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Total returns do not include the effect of the contingent deferred sales charge.*

H*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

I*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

J*Annualized.*

K*Audit fees are not annualized.*

L*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity® Sustainable Emerging Markets Equity Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.86 | $9.12 | $7.38 | $6.57 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .04  | .10  | .11  | .10  | .05  |
| Net realized and unrealized gain (loss)  | 2.46  | 2.76  | 1.77  | .76  | (3.48)  |
| Total from investment operations  | 2.50  | 2.86  | 1.88  | .86  | (3.43)  |
| Distributions from net investment income  | (.12)  | (.12)  | (.14)  | (.05)  | -  |
| Total distributions  | (.12)  | (.12)  | (.14)  | (.05)  | -  |
| Net asset value, end of period  | $14.24 | $11.86 | $9.12 | $7.38 | $6.57 |
| **Total Return** D,E | 21.31% <br>| 31.73%  | 25.84%  | 13.11%  | (34.30)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 2.50% H | 3.60%  | 4.63%  | 6.16%  | 8.07% H,I |
| Expenses net of fee waivers, if any  | 1.25% H<br>| 1.25%  | 1.25%  | 1.25%  | 1.25% H |
| Expenses net of all reductions, if any  | 1.24% H | 1.24%  | 1.24%  | 1.24%  | 1.25% H |
| Net investment income (loss)  | .68% H | .98%  | 1.26%  | 1.31%  | .83% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $28890 | $11180 | $4724 | $2947 | $2082 |
| Portfolio turnover rate J | 145% H<br>| 94%  | 108%  | 119%  | 84% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class I**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.86 | $9.12 | $7.38 | $6.57 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .04  | .09  | .11  | .10  | .04  |
| Net realized and unrealized gain (loss)  | 2.46  | 2.76  | 1.77  | .76  | (3.47)  |
| Total from investment operations  | 2.50  | 2.85  | 1.88  | .86  | (3.43)  |
| Distributions from net investment income  | (.12)  | (.11)  | (.14)  | (.05)  | -  |
| Total distributions  | (.12)  | (.11)  | (.14)  | (.05)  | -  |
| Net asset value, end of period  | $14.24 | $11.86 | $9.12 | $7.38 | $6.57 |
| **Total Return** D,E | 21.31% <br>| 31.68%  | 25.84%  | 13.11%  | (34.30)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 2.68% H | 3.78%  | 4.70%  | 6.00%  | 8.50% H,I |
| Expenses net of fee waivers, if any  | 1.25% H<br>| 1.25%  | 1.25%  | 1.24%  | 1.31% H |
| Expenses net of all reductions, if any  | 1.25% H | 1.24%  | 1.24%  | 1.23%  | 1.31% H |
| Net investment income (loss)  | .68% H | .97%  | 1.26%  | 1.31%  | .76% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $547 | $345 | $256 | $201 | $164 |
| Portfolio turnover rate J | 145% H<br>| 94%  | 108%  | 119%  | 84% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable Emerging Markets Equity Fund Class Z**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.91 | $9.16 | $7.40 | $6.57 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .05  | .11  | .12  | .11  | .05  |
| Net realized and unrealized gain (loss)  | 2.47  | 2.77  | 1.78  | .77  | (3.48)  |
| Total from investment operations  | 2.52  | 2.88  | 1.90  | .88  | (3.43)  |
| Distributions from net investment income  | (.12)  | (.13)  | (.14)  | (.05)  | -  |
| Total distributions  | (.12)  | (.13)  | (.14)  | (.05)  | -  |
| Net asset value, end of period  | $14.31 | $11.91 | $9.16 | $7.40 | $6.57 |
| **Total Return** D,E | 21.41% <br>| 31.88%  | 26.04%  | 13.42%  | (34.30)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 2.45% H | 3.86%  | 4.45%  | 5.87%  | 8.23% H,I |
| Expenses net of fee waivers, if any  | 1.10% H<br>| 1.10%  | 1.10%  | 1.09%  | 1.15% H |
| Expenses net of all reductions, if any  | 1.10% H | 1.09%  | 1.09%  | 1.09%  | 1.15% H |
| Net investment income (loss)  | .83% H | 1.12%  | 1.41%  | 1.46%  | .93% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1269 | $722 | $653 | $390 | $276 |
| Portfolio turnover rate J | 145% H<br>| 94%  | 108%  | 119%  | 84% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Sustainable Emerging Markets Equity Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Fidelity Sustainable Emerging Markets Equity Fund, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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.

Exchange-Traded Funds (ETFs) are valued at their last 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 but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be 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 (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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $7745241 |
| **Gross unrealized depreciation** | <u>(1089244)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$6655997</u> |
| **Tax cost** | <u>$26535506</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | <u>$(289467)</u> |
| **Total capital loss carryforward** | <u>$(289467)</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** The Fund's investment objectives allow for various types of derivative instruments, including futures 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.

Derivatives were used to increase returns and 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 objectives may not be achieved.

Derivatives were used to increase or decrease 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.<br>|

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

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 and amounts recognized in the Statement of Assets and Liabilities. 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 fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily. Subsequent payments from or to a fund are made or as needed depending on the fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.

Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Sustainable Emerging Markets Equity Fund** | 29069732 | 15419660 |

---

**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.

The Fund's management contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. The management fee is determined by calculating a basic fee and then applying a performance adjustment. When determining a class's basic fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual basic fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.

---

| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .98 |
| **Class M** | .90 |
| **Class C** | .90 |
| **Fidelity Sustainable Emerging Markets Equity Fund** | .98 |
| **Class I** | .90 |
| **Class Z** | .83 |

---

One-twelfth of the basic fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the basic fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:

---

| | |
|:---|:---|
|  | **Total Management Fee Rate %** |
| **Class A** | .95 |
| **Class M** | .90 |
| **Class C** | .90 |
| **Fidelity Sustainable Emerging Markets Equity Fund** | .90 |
| **Class I** | .90 |
| **Class Z** | .83 |

---

The performance adjustment rate is calculated monthly by comparing over the performance period the Fund's performance to that of the performance adjustment index listed below. Returns for certain performance adjustment indexes are adjusted for tax withholding rates applicable to U.S. based mutual funds.

---

| | |
|:---|:---|
|  | **Performance Adjustment Index** |
| **Fidelity Sustainable Emerging Markets Equity Fund** | MSCI Emerging Markets Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Fidelity Sustainable Emerging Markets Equity Fund. To the extent that other classes of the Fund have higher expenses, this could result in those classes bearing a larger positive performance adjustment and smaller negative performance adjustment than would be the case if each class's own performance were considered. The performance period is the most recent 36 month period. The maximum annualized performance adjustment rate is ±.10% of the Fund's average net assets over the performance period. The performance adjustment rate is divided by twelve and multiplied by the Fund's average net assets over the performance period, and the resulting dollar amount is proportionately added to or subtracted from a class's basic fee. For the reporting period, the total annualized performance adjustment was .02%.

**Distribution and Service Plan Fees.** In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Distribution Fee** | **Service Fee** | **Total Fees ($)** | **Retained by FDC ($)** |
| **Class A**  | -% | .25% | 1307 | 417 |
| **Class M** | .25% | .25% | 1010 | 806 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2151</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1649</u> |
|  |  |  | <u>4468</u> | <u>2872</u> |

---

**Sales Load.** FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares. For the period, sales charge amounts retained by FDC were as follows:

---

| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Class A** | 1114 |
| **Class M** | 49 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>9</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1172</u> |

---

*A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.*

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Sustainable Emerging Markets Equity Fund** | 50 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Sustainable Emerging Markets Equity Fund** | 532869 | 166672 | 6538 |

---

**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Sustainable Emerging Markets Equity Fund** | 12 |

---

**8. Expense Reductions.** 

The investment adviser contractually agreed to reimburse expenses of each class to the extent annual operating expenses exceeded certain levels of class-level average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following classes were in reimbursement during the period:

---

| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Class A** | 1.50% | 7179 |
| **Class M** | 1.75% | 3098 |
| **Class C** | 2.25% | 3124 |
| **Fidelity Sustainable Emerging Markets Equity Fund** | 1.25% | 117989 |
| **Class I** | 1.25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2906</u> |
| **Class Z** | 1.10% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6398</u> |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; <u>140694</u> |

---

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $164.

**9. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **April 30, 2026** | **Year ended**<br> **October 31, 2025** |
| **Fidelity Sustainable Emerging Markets Equity Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $6882 | $2849 |
| Class M | 2315 | 1942 |
| Class C | 1083 | 691 |
| Fidelity Sustainable Emerging Markets Equity Fund | 133244 | 58746 |
| Class I | 3460 | 3004 |
| Class Z | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>7243</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>9050</u> |
| Total  | <u>$154227</u> | <u>$76282</u> |

---

**10. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** |
| **Fidelity Sustainable Emerging Markets Equity Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 50821 | 28341 | $649965 | $315160 |
| Reinvestment of distributions  | 598 | 320 | 6882 | 2849 |
| Shares redeemed | <u>(13766)</u> | <u>(1047)</u> | <u>(171442)</u> | <u>(9952)</u> |
| Net increase (decrease) | <u>37653</u> | <u>27614</u> | <u>$485405</u> | <u>$308057</u> |
| **Class M** |  |  |  |  |
| Shares sold | 2607 | 3405 | $32132 | $36856 |
| Reinvestment of distributions  | 201 | 218 | 2315 | 1942 |
| Shares redeemed | <u>(239)</u> | <u>(9)</u> | <u>(3013)</u> | <u>(79)</u> |
| Net increase (decrease) | <u>2569</u> | <u>3614</u> | <u>$31434</u> | <u>$38719</u> |
| **Class C** |  |  |  |  |
| Shares sold | 10923 | 865 | $134352 | $10033 |
| Reinvestment of distributions  | 94 | 78 | 1083 | 691 |
| Shares redeemed | <u>(454)</u> | <u>-</u> | <u>(6050)</u> | <u>-</u> |
| Net increase (decrease) | <u>10563</u> | <u>943</u> | <u>$129385</u> | <u>$10724</u> |
| **Fidelity Sustainable Emerging Markets Equity Fund** |  |  |  |  |
| Shares sold | 1525757 | 649081 | $19511406 | $6850413 |
| Reinvestment of distributions  | 11052 | 6287 | 127192 | 55888 |
| Shares redeemed | <u>(450381)</u> | <u>(230484)</u> | <u>(5727071)</u> | <u>(2307527)</u> |
| Net increase (decrease) | <u>1086428</u> | <u>424884</u> | <u>$13911527</u> | <u>$4598774</u> |
| **Class I** |  |  |  |  |
| Shares sold | 9028 | 1908 | $117124 | $20055 |
| Reinvestment of distributions  | 300 | 338 | 3460 | 3004 |
| Shares redeemed | <u>(15)</u> | <u>(1262)</u> | <u>(219)</u> | <u>(11192)</u> |
| Net increase (decrease) | <u>9313</u> | <u>984</u> | <u>$120365</u> | <u>$11867</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 31745 | 1112 | $403832 | $9698 |
| Reinvestment of distributions  | 366 | 565 | 4225 | 5032 |
| Shares redeemed | <u>(4042)</u> | <u>(12263)</u> | <u>(49677)</u> | <u>(113958)</u> |
| Net increase (decrease) | <u>28069</u> | <u>(10586)</u> | <u>$358380</u> | <u>$(99228)</u> |

---

**11. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

In addition, at the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund** | **Fidelity Sustainable Multi-Asset Fund** |
| Fidelity Sustainable Emerging Markets Equity Fund  | 22% |

---

**12. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131307_4.jpg)<br>

1.9905244.104 MAR-SANN-0626

**Fidelity® Series Canada Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131267_1.jpg)

![](img131267_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_SAD-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Canada Fund](#Sub_Sec_Fund_3036_SAD-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3036_SAD-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SAD-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SAD-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SAD-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SAD-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Canada Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.0%** | &nbsp;&nbsp;**Common Stocks - 99.0%** | &nbsp;&nbsp;**Common Stocks - 99.0%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 3.3%  |  |  |
| Materials - 3.3% |  |  |
| Metals & Mining - 3.3% |  |  |
| Wheaton Precious Metals Corp  | 2641831 | 333702921 |
| CANADA - 90.1%  |  |  |
| Communication Services - 0.7% |  |  |
| Diversified Telecommunication Services - 0.7% |  |  |
| Quebecor Inc Multiple Voting Shares  | 1796509 | 72741190 |
| Consumer Discretionary - 6.5% |  |  |
| Broadline Retail - 2.7% |  |  |
| Dollarama Inc  | 2164331 | 276606075 |
| Hotels, Restaurants & Leisure - 1.9% |  |  |
| Restaurant Brands International Inc (e) | 2362452 | 190634493 |
| Specialty Retail - 1.8% |  |  |
| Aritzia Inc Subordinate Voting Shares (c) | 587116 | 61968433 |
| Diversified Royalty Corp (d) | 11800200 | 37094161 |
| KITS Eyecare Ltd (c)(e) | 1047493 | 10850095 |
| Pet Valu Holdings Ltd (d) | 4473221 | 70044842 |
|  |  | 179957531 |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Canada Goose Holdings Inc Subordinate Voting Shares (c) | 931632 | 10610186 |
| TOTAL CONSUMER DISCRETIONARY |  | 657808285 |
| Consumer Staples - 7.0% |  |  |
| Beverages - 0.0% |  |  |
| GURU Organic Energy Corp (c) | 1042234 | 3069118 |
| Consumer Staples Distribution & Retail - 6.7% |  |  |
| Alimentation Couche-Tard Inc  | 6970568 | 412378875 |
| Metro Inc/CN  | 3012436 | 201945318 |
| North West Co Inc/The  | 1708741 | 64004668 |
|  |  | 678328861 |
| Personal Care Products - 0.3% |  |  |
| Jamieson Wellness Inc (a)(b) | 1278522 | 31823042 |
| TOTAL CONSUMER STAPLES |  | 713221021 |
| Energy - 18.4% |  |  |
| Energy Equipment & Services - 1.0% |  |  |
| Pason Systems Inc (d) | 4890140 | 50292823 |
| TerraVest Industries Inc  | 491571 | 50143245 |
|  |  | 100436068 |
| Oil, Gas & Consumable Fuels - 17.4% |  |  |
| Cameco Corp  | 841861 | 103488754 |
| Canadian Natural Resources Ltd  | 12303466 | 587298366 |
| Imperial Oil Ltd (e) | 1345095 | 180184405 |
| PrairieSky Royalty Ltd  | 8958180 | 226270958 |
| South Bow Corp  | 5394706 | 184675400 |
| Suncor Energy Inc  | 7067238 | 484277626 |
|  |  | 1766195509 |
| TOTAL ENERGY |  | 1866631577 |
| Financials - 31.4% |  |  |
| Banks - 19.6% |  |  |
| Bank of Montreal (e) | 3330778 | 507187486 |
| National Bank of Canada  | 2543454 | 383928890 |
| Royal Bank of Canada  | 2665968 | 479495448 |
| Toronto Dominion Bank (e) | 5751702 | 619609493 |
|  |  | 1990221317 |
| Capital Markets - 5.0% |  |  |
| Brookfield Asset Management Ltd Class A (e) | 3182422 | 152894953 |
| Brookfield Corp Class A  | 4301857 | 194293759 |
| TMX Group Ltd  | 3997150 | 163022866 |
|  |  | 510211578 |
| Insurance - 6.8% |  |  |
| Definity Financial Corp  | 3798856 | 193669362 |
| Intact Financial Corp  | 1248538 | 240580363 |
| Sun Life Financial Inc (e) | 3568190 | 257090408 |
|  |  | 691340133 |
| TOTAL FINANCIALS |  | 3191773028 |
| Industrials - 9.1% |  |  |
| Commercial Services & Supplies - 0.8% |  |  |
| BOYD GROUP INC  | 665997 | 82326025 |
| Ground Transportation - 6.3% |  |  |
| Canadian National Railway Co  | 1104010 | 124002507 |
| Canadian Pacific Kansas City Ltd  | 5232945 | 455125794 |
| TFI International Inc  | 457220 | 65421489 |
|  |  | 644549790 |
| Professional Services - 2.0% |  |  |
| Thomson Reuters Corp (e) | 2114188 | 202243596 |
| TOTAL INDUSTRIALS |  | 929119411 |
| Information Technology - 6.8% |  |  |
| IT Services - 4.1% |  |  |
| Shopify Inc Class A (c) | 3393741 | 411940970 |
| Software - 2.7% |  |  |
| ApplyBoard Inc (c)(f)(g) | 10248 | 42529 |
| ApplyBoard Inc non-voting shares (c)(f)(g) | 2527 | 10487 |
| Constellation Software Inc/Canada  | 147958 | 269467970 |
| Constellation Software Inc/Canada warrants 3/31/2040 (c)(f) | 47800 | 3 |
| Dye & Durham Ltd (d)(e) | 4761989 | 12270005 |
|  |  | 281790994 |
| TOTAL INFORMATION TECHNOLOGY |  | 693731964 |
| Materials - 10.2% |  |  |
| Containers & Packaging - 0.9% |  |  |
| CCL Industries Inc Class A  | 141800 | 8954691 |
| CCL Industries Inc Class B  | 1244020 | 78560044 |
|  |  | 87514735 |
| Metals & Mining - 8.9% |  |  |
| Agnico Eagle Mines Ltd/CA  | 1344645 | 252852853 |
| Franco-Nevada Corp  | 2082988 | 480558604 |
| G Mining Ventures Corp (c) | 753550 | 26117815 |
| G2 Goldfields Inc (c) | 274900 | 2102706 |
| Hemlo Mining Corp (c)(d) | 19184433 | 74147512 |
| Lumina Metals Corp  | 1499797 | 13801644 |
| Minera Alamos Inc (c) | 2984765 | 13293944 |
| Minera Alamos Inc warrants (c) | 1752300 | 2118470 |
| Triple Flag Precious Metals Corp  | 1136985 | 36293790 |
|  |  | 901287338 |
| Paper & Forest Products - 0.4% |  |  |
| Stella-Jones Inc  | 722873 | 44734202 |
| TOTAL MATERIALS |  | 1033536275 |
| TOTAL CANADA |  | 9158562751 |
| CHILE - 1.4%  |  |  |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Lundin Mining Corp  | 5403317 | 138667965 |
| UNITED STATES - 3.4%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Leisure Products - 0.6% |  |  |
| BRP Inc Subordinate Voting Shares  | 1054544 | 59009747 |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Sunococorp LLC  | 231361 | 15427151 |
| Industrials - 2.6% |  |  |
| Commercial Services & Supplies - 2.6% |  |  |
| GFL Environmental Inc Subordinate Voting Shares (e) | 6636414 | 266267577 |
| TOTAL UNITED STATES |  | 340704475 |
| ZAMBIA - 0.8%  |  |  |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| First Quantum Minerals Ltd (c) | 3588906 | 87876478 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $6,486,365,603) |  | <br> **10059514590** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Valsoft Corp Series A-1.2 (c)(f)(g) | 759 | 6764307 |
| Valsoft Corp Series A-1.3 (c)(f)(g) | 269 | 2397363 |
| Valsoft Corp Series A-1.4 (c)(f)(g) | 347 | 3092509 |
| TOTAL CANADA |  | 12254179 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $16,128,065) |  | <br> **12254179** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.0%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| ApplyBoard Inc Series A1 (c)(f)(g) | 12606 | 52819 |
| ApplyBoard Inc Series A2 (c)(f)(g) | 9868 | 41446 |
| ApplyBoard Inc Series A3 (c)(f)(g) | 563 | 2369 |
| ApplyBoard Inc Series D (c)(f)(g) | 27521 | 245212 |
| ApplyBoard Inc Series SEED (c)(f)(g) | 3768 | 15675 |
| TOTAL CANADA |  | 357521 |
| <br> **TOTAL NON-CONVERTIBLE PREFERRED STOCKS**<br> (Cost $4,705,692) |  | <br> **357521** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.4%** | &nbsp;&nbsp;**Money Market Funds - 5.4%** | &nbsp;&nbsp;**Money Market Funds - 5.4%** | &nbsp;&nbsp;**Money Market Funds - 5.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 8999320 | 9001120 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 534797419 | 534850899 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $543,852,019) |  |  | **543852019** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 104.4%**<br> (Cost $7,051,051,379)<br>| <br>**10615978309** |
| **NET OTHER ASSETS (LIABILITIES) - (4.4)%**  | **(450620375)** |
| **NET ASSETS - 100.0%** | **10165357934** |

---

**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 $31,823,042 or 0.3% of net assets.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $31,823,042 or 0.3% of net assets.

(c) Non-income producing.

(d) Affiliated company.

(e) Security or a portion of the security is on loan at period end.

(f) Level 3 security.

(g) 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 $12,664,716 or 0.1% of net assets.

(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: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| ApplyBoard Inc | 6/4/2021 - 6/30/2021 | 524313 |
| ApplyBoard Inc non-voting shares | 6/30/2021 | 269861 |
| ApplyBoard Inc Series A1 | 6/4/2021 | 816255 |
| ApplyBoard Inc Series A2 | 6/4/2021 | 638966 |
| ApplyBoard Inc Series A3 | 6/4/2021 | 36455 |
| ApplyBoard Inc Series D | 6/4/2021 | 2970033 |
| ApplyBoard Inc Series SEED | 6/4/2021 | 243983 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 8890706 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 2670328 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 4567031 |

---

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 13247920 | 777914977 | 782161476 | 308782 | (301) | - | 9001120 | 8999320 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 288791439 | 5209245735 | 4963219500 | 2188028 | 33225 | - | 534850899 | 534797419 | 1.5% |
| Total | 302039359 | 5987160712 | 5745380976 | 2496810 | 32924 | - | 543852019 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**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 ($) and Shares end of period columns 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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  |
| Diversified Royalty Corp | 29397626 | - | 434652 | 1036587 | 137400 | 7993787 | 37094161 | 11800200 |
| Dye & Durham Ltd | 17622429 | - | 113324 | - | (92148) | (5146952) | 12270005 | 4761989 |
| Hemlo Mining Corp | - | 17425613 | 942588 | - | 452174 | 28903861 | 74147512 | 19184433 |
| Pason Systems Inc | 35781412 | 8452666 | 2141666 | 724183 | (369118) | 8569529 | 50292823 | 4890140 |
| Pet Valu Holdings Ltd | 76708624 | 32303564 | 4323871 | 622063 | (1140868) | (33502607) | 70044842 | 4473221 |
| Total | 159510091 | 58181843 | 7956101 | 2382833 | (1012560) | 6817618 | 243849343 |  |

---

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 72741190 | 72741190 | - | - |
| Consumer Discretionary | 716818032 | 716818032 | - | - |
| Consumer Staples | 713221021 | 713221021 | - | - |
| Energy | 1882058728 | 1882058728 | - | - |
| Financials | 3191773028 | 3191773028 | - | - |
| Industrials | 1195386988 | 1195386988 | - | - |
| Information Technology | 693731964 | 693678945 | - | 53019 |
| Materials | 1593783639 | 1591665169 | 2118470 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 12254179 | - | - | 12254179 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 357521 | - | - | 357521 |
|  **Money Market Funds** | 543852019 | 543852019 | - | - |
| **Total Investments in Securities:** | 10615978309 | 10601195120 | 2118470 | 12664719 |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $517,644,230) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $6,251,108,270) | $9828276947 |  |
| Fidelity Central Funds (cost $543,852,019) | 543852019 |  |
| Other affiliated issuers (cost $256,091,090) | 243849343 |  |
| Total Investment in Securities (cost $7,051,051,379) |  | $10615978309 |
| Cash |  | 11280 |
| Foreign currency held at value (cost $102,560,718) |  | 103342880 |
| Receivable for investments sold |  | 8878464 |
| Receivable for fund shares sold |  | 249518973 |
| Dividends receivable |  | 12048458 |
| Distributions receivable from Fidelity Central Funds |  | 499484 |
| **Total assets** |  | 10990277848 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $285736096 |  |
| Payable for fund shares redeemed | 4353482 |  |
| Other payables and accrued expenses | 14434 |  |
| Collateral on securities loaned | 534815902 |  |
| **Total liabilities** |  | 824919914 |
| **Net Assets**  |  | $10165357934 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $6281622315 |
| Total accumulated earnings (loss) |  | 3883735619 |
| **Net Assets** |  | $10165357934 |
| **Net Asset Value**, offering price and redemption price per share ($10,165,357,934 ÷ 475,975,004 shares) |  | $21.36 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $2,382,833 earned from affiliated issuers) |  | $84405856 |
| Interest  |  | 328071 |
| Income from Fidelity Central Funds (including $2,188,028 from security lending)  |  | 2496810 |
| Income before foreign taxes withheld |  | $87230737 |
| Less foreign taxes withheld |  | (13015583) |
| **Total income** |  | 74215154 |
| **Expenses** |  |  |
| Custodian fees and expenses | $58917 |  |
| Independent trustees' fees and expenses | 12730 |  |
| Interest | 4061 |  |
| **Total expenses** |  | 75708 |
| **Net Investment income (loss)** |  | 74139446 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 262525710 |  |
| Redemptions in-kind | 66867877 |  |
| Fidelity Central Funds | 32924 |  |
| Other affiliated issuers | (1012560) |  |
| Foreign currency transactions | 3768995 |  |
| Written options | 735186 |  |
| Total net realized gain (loss) |  | 332918132 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 858343130 |  |
| Affiliated issuers  | 6817618 |  |
| Assets and liabilities in foreign currencies | 840171 |  |
| Written options | 3474290 |  |
| Total change in net unrealized appreciation (depreciation) |  | 869475209 |
| **Net gain (loss)** |  | 1202393341 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1276532787 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $74139446 | $121319112 |
| &nbsp;&nbsp;Net realized gain (loss) | 332918132<br>| 187878225<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 869475209 | 752974923<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1276532787<br>| 1062172260<br>|
| Distributions to shareholders | (167778429)<br>| (165541550)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 2229494494 | 2021953488 |
| Reinvestment of distributions | 167778429<br>| 165541550<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (936880796) | (1216595478) |
| **Net increase (decrease) in net assets resulting from share transactions** | 1460392127<br>| 970899560<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 2569146485<br>| 1867530270<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 7596211449 | 5728681179<br>|
| &nbsp;&nbsp;End of period | $10165357934 | $7596211449 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 108633758 | 110513585 |
| Issued in reinvestment of distributions | 8547042<br>| 10212310<br>|
| &nbsp;&nbsp;Redeemed | (43384244) | (72342266) |
| &nbsp;&nbsp;Net increase (decrease) | 73796556 | 48383629 |

---

**Financial Highlights** 

**Fidelity® Series Canada Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $18.89 | $16.19 | $13.17 | $13.37 | $14.77 | $9.77 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .35  | .33  | .33  | .32  | .28  |
| Net realized and unrealized gain (loss)  | 2.71  | 2.83  | 3.19  | (.12)  | (1.40)  | 4.97  |
| Total from investment operations  | 2.88  | 3.18  | 3.52  | .21  | (1.08)  | 5.25  |
| Distributions from net investment income  | (.26)  | (.42)  | (.38)  | (.40)  | (.32)  | (.25)  |
| Distributions from net realized gain  | (.15)  | (.06)  | (.12)  | (.01)  | -  | -  |
| Total distributions  | (.41)  | (.48)  | (.50)  | (.41)  | (.32)  | (.25)  |
| Net asset value, end of period  | $21.36 | $18.89 | $16.19 | $13.17 | $13.37 | $14.77 |
| **Total Return** C,D | 15.41% <br>| 20.12%  | 27.38%  | 1.54%  | (7.45)%  | 54.40%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | -% G,H | -% H | -% H | .01%  | -% H | -% H |
| Expenses net of fee waivers, if any  | -% G,H<br>| -% H | -% H | .01%  | -% H | -% H |
| Expenses net of all reductions, if any  | -% G,H | -% H | -% H | .01%  | -% H | -% H |
| Net investment income (loss)  | 1.65% G | 1.99%  | 2.15%  | 2.41%  | 2.29%  | 2.13%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $10165358 | $7596211 | $5728681 | $4517559 | $5407197 | $6065145 |
| Portfolio turnover rate I | 26% G,J<br>| 13% J | 9% J | 15% J | 19% J | 19%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount represents less than .005%.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

J*Portfolio turnover rate excludes securities received or delivered in-kind.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Series Canada Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), redemptions in-kind, losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $3745922891 |
| **Gross unrealized depreciation** | <u>(260370983)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$3485551908</u> |
| **Tax cost** | <u>$7130426401</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** The Fund's investment objectives allow for various types of derivative instruments, including options. 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.

Derivatives were used to increase returns and 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 objectives may not be achieved.

Derivatives were used to increase or decrease 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.<br>|

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

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 and amounts recognized in the Statement of Assets and Liabilities. 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.

**Options.** Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date.

Exchange-traded written covered call options were used to manage exposure to the market. When a fund writes a covered call option, a fund holds the underlying instrument which must be delivered to the holder upon the exercise of the option.

Upon entering into a written options contract, a fund will receive a premium. Premiums received are reflected as a liability on the Statement of Assets and Liabilities. Options are valued daily and any unrealized appreciation (depreciation) is reflected in total accumulated earnings (loss) in the Statement of Assets and Liabilities. When a written option is exercised, the premium is added to the proceeds from the sale of the underlying instrument in determining the gain or loss realized on that investment. When an option is closed, a gain or loss is realized depending on whether the proceeds or amount paid for the closing sale transaction are greater or less than the premium received. When an option expires, gains and losses are realized to the extent of premiums received. The net realized gain (loss) on closed and expired written options and the change in net unrealized appreciation (depreciation) on written options are presented in the Statement of Operations.

Writing call options tends to decrease exposure to the underlying instrument and risk of loss is the change in value in excess of the premium received.

Any open options at period end are presented in the Schedule of Investments under the caption "Written Options", and are representative of volume of activity during the period.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Series Canada Fund** | 2673979296 | 1151247379 |

---

**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Canada Fund** | 135 |

---

**Interfund Lending Program.** Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds at rates that are beneficial to both the borrowing and lending fund. Borrowings under the program are generally for temporary or emergency purposes, including meeting fund shareholder redemptions. The interfund loan rate is determined, as specified in the Exemptive Order, by averaging, (1) the higher of the overnight time deposit rate and the current overnight repurchase agreement rate, and (2) a benchmark rate representing the lowest bank loan rate available to the funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Borrower or Lender** | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)**  |
| **Fidelity Series Canada Fund**. | Borrower | 18736500 | 3.90% | 4061 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Series Canada Fund** | 339777080 | 64997424 | 11522423 |

---

**Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The total net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Affiliated Issuers ($)** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series Canada Fund** | 5539410 | 647352 | 66220525 | 66867877 | 113295654 |

---

**Prior Fiscal Year Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Affiliated Issuers ($)** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series Canada Fund** | 12683672 | 1023846 | 113813637 | 114837483 | 214138702 |

---

**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**8. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Series Canada Fund** | 241326 | - | - |

---

**8. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.

**9. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131267_4.jpg)<br>

1.9883883.108 SAD-SANN-0626

**Fidelity® Global Commodity Stock Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131284_1.jpg)

![](img131284_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_GCS-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Global Commodity Stock Fund](#Sub_Sec_Fund_2120_GCS-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements2120_GCS-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_GCS-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_GCS-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_GCS-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_GCS-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Global Commodity Stock Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.0%** | &nbsp;&nbsp;**Common Stocks - 98.0%** | &nbsp;&nbsp;**Common Stocks - 98.0%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.2%  |  |  |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| YPF SA Class D ADR (a)(b) | 77690 | 3508480 |
| AUSTRALIA - 8.5%  |  |  |
| Energy - 0.7% |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| Woodside Energy Group Ltd  | 480889 | 11496925 |
| Materials - 7.8% |  |  |
| Metals & Mining - 7.8% |  |  |
| Anglogold Ashanti Plc (South Africa)  | 256700 | 23908274 |
| BHP Group Ltd  | 1457711 | 57695241 |
| Glencore PLC  | 4329300 | 33646619 |
| TOTAL MATERIALS |  | 115250134 |
| TOTAL AUSTRALIA |  | 126747059 |
| BRAZIL - 6.0%  |  |  |
| Energy - 1.7% |  |  |
| Oil, Gas & Consumable Fuels - 1.7% |  |  |
| PRIO SA/Brazil (b) | 1894500 | 25407679 |
| Materials - 4.3% |  |  |
| Chemicals - 0.2% |  |  |
| Yara International ASA  | 61900 | 3601206 |
| Metals & Mining - 4.1% |  |  |
| Vale SA  | 2309400 | 37860393 |
| Wheaton Precious Metals Corp  | 172700 | 21814603 |
|  |  | 59674996 |
| TOTAL MATERIALS |  | 63276202 |
| TOTAL BRAZIL |  | 88683881 |
| CANADA - 18.2%  |  |  |
| Energy - 6.1% |  |  |
| Oil, Gas & Consumable Fuels - 6.1% |  |  |
| Cameco Corp  | 31100 | 3823078 |
| Imperial Oil Ltd (a) | 328900 | 44058339 |
| PrairieSky Royalty Ltd  | 57437 | 1450777 |
| Suncor Energy Inc  | 495900 | 33981207 |
| Tamarack Valley Energy Ltd  | 787000 | 7381293 |
| TOTAL ENERGY |  | 90694694 |
| Materials - 12.1% |  |  |
| Chemicals - 4.9% |  |  |
| Nutrien Ltd (a) | 964583 | 73319244 |
| Metals & Mining - 6.4% |  |  |
| Agnico Eagle Mines Ltd/CA  | 159800 | 30049482 |
| Alamos Gold Inc Class A  | 211500 | 8439136 |
| Barrick Mining Corp  | 142000 | 5579225 |
| Franco-Nevada Corp  | 83071 | 19165009 |
| G Mining Ventures Corp (b) | 645200 | 22362437 |
| Hemlo Mining Corp (b) | 530500 | 2050373 |
| Hudbay Minerals Inc  | 160300 | 3707900 |
| Major Drilling Group International Inc (b) | 261200 | 3013218 |
|  |  | 94366780 |
| Paper & Forest Products - 0.8% |  |  |
| West Fraser Timber Co Ltd (a) | 185000 | 11712739 |
| TOTAL MATERIALS |  | 179398763 |
| TOTAL CANADA |  | 270093457 |
| CHILE - 1.2%  |  |  |
| Materials - 1.2% |  |  |
| Metals & Mining - 1.2% |  |  |
| Antofagasta PLC  | 356200 | 17204396 |
| CHINA - 5.1%  |  |  |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| China Shenhua Energy Co Ltd H Shares  | 1425000 | 8851921 |
| Materials - 4.5% |  |  |
| Metals & Mining - 4.5% |  |  |
| Chuangxin Industries Holdings Ltd H Shares  | 3029000 | 8802310 |
| MMG Ltd (b) | 23564000 | 25422871 |
| Zijin Mining Group Co Ltd H Shares  | 7140000 | 33158172 |
| TOTAL MATERIALS |  | 67383353 |
| TOTAL CHINA |  | 76235274 |
| FINLAND - 2.3%  |  |  |
| Materials - 2.3% |  |  |
| Paper & Forest Products - 2.3% |  |  |
| UPM-Kymmene Oyj  | 1133100 | 33871606 |
| INDIA - 0.5%  |  |  |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Coal India Ltd  | 1446500 | 7357240 |
| JAPAN - 0.8%  |  |  |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| JX Advanced Metals Corp  | 367600 | 11404549 |
| NORWAY - 0.8%  |  |  |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| Norsk Hydro ASA  | 1125500 | 12421598 |
| PORTUGAL - 0.5%  |  |  |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Galp Energia SGPS SA  | 315700 | 7395605 |
| UNITED KINGDOM - 0.9%  |  |  |
| Energy - 0.9% |  |  |
| Energy Equipment & Services - 0.9% |  |  |
| Subsea 7 SA  | 378700 | 13619744 |
| UNITED STATES - 52.2%  |  |  |
| Consumer Staples - 11.1% |  |  |
| Food Products - 11.1% |  |  |
| Archer-Daniels-Midland Co  | 1105700 | 82418878 |
| Bunge Global SA  | 641900 | 81566233 |
| TOTAL CONSUMER STAPLES |  | 163985111 |
| Energy - 27.7% |  |  |
| Energy Equipment & Services - 0.9% |  |  |
| National Energy Services Reunited Corp (b) | 305200 | 7611688 |
| Tidewater Inc (a)(b) | 67700 | 6047641 |
|  |  | 13659329 |
| Oil, Gas & Consumable Fuels - 26.8% |  |  |
| Antero Resources Corp (b) | 297012 | 11660691 |
| BP PLC  | 3765400 | 29806284 |
| Chevron Corp  | 229530 | 44370444 |
| ConocoPhillips  | 305100 | 38375478 |
| Diamondback Energy Inc  | 103400 | 21262142 |
| Exxon Mobil Corp  | 792600 | 122321959 |
| Kinder Morgan Inc  | 385100 | 12658237 |
| Murphy Oil Corp (a) | 142500 | 5950800 |
| Navigator Holdings Ltd  | 634504 | 13832187 |
| Occidental Petroleum Corp  | 154000 | 9329320 |
| Ovintiv Inc  | 366900 | 22582695 |
| Shell PLC  | 1160373 | 52758456 |
| Targa Resources Corp  | 49700 | 12925976 |
|  |  | 397834669 |
| TOTAL ENERGY |  | 411493998 |
| Materials - 13.4% |  |  |
| Chemicals - 9.9% |  |  |
| CF Industries Holdings Inc  | 242000 | 30056400 |
| Corteva Inc  | 1425300 | 115463553 |
|  |  | 145519953 |
| Metals & Mining - 3.5% |  |  |
| Nucor Corp  | 131000 | 29512990 |
| Steel Dynamics Inc  | 101100 | 23117526 |
|  |  | 52630516 |
| TOTAL MATERIALS |  | 198150469 |
| TOTAL UNITED STATES |  | 773629578 |
| ZAMBIA - 0.8%  |  |  |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| First Quantum Minerals Ltd (b) | 485471 | 11887043 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,044,842,067) |  | <br> **1454059510** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.9%** | &nbsp;&nbsp;**Money Market Funds - 2.9%** | &nbsp;&nbsp;**Money Market Funds - 2.9%** | &nbsp;&nbsp;**Money Market Funds - 2.9%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c) | 3.69 | 28017922 | 28023526 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 14709258 | 14710729 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $42,734,255) |  |  | **42734255** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.9%**<br> (Cost $1,087,576,322)<br>| <br>**1496793765** |
| **NET OTHER ASSETS (LIABILITIES) - (0.9)%**  | **(13465058)** |
| **NET ASSETS - 100.0%** | **1483328707** |

---

**Legend**

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing.

(c) 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.

(d) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 20359132 | 242801272 | 235136975 | 417609 | 97 | - | 28023526 | 28017922 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 9215185 | 309518118 | 304022921 | 38826 | 347 | - | 14710729 | 14709258 | 0.0% |
| Total | 29574317 | 552319390 | 539159896 | 456435 | 444 | - | 42734255 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Consumer Staples | 163985111 | 163985111 | - | - |
| Energy | 579826286 | 469555460 | 110270826 | - |
| Materials | 710248113 | 540118351 | 170129762 | - |
|  **Money Market Funds** | 42734255 | 42734255 | - | - |
| **Total Investments in Securities:** | 1496793765 | 1216393177 | 280400588 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $17,267,871) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,044,842,067) | $1454059510 |  |
| Fidelity Central Funds (cost $42,734,255) | 42734255 |  |
| Total Investment in Securities (cost $1,087,576,322) |  | $1496793765 |
| Foreign currency held at value (cost $186,321) |  | 186826 |
| Receivable for fund shares sold |  | 2937762 |
| Dividends receivable |  | 640907 |
| Reclaims receivable |  | 1191706 |
| Interest receivable |  | 173 |
| Distributions receivable from Fidelity Central Funds |  | 67020 |
| Prepaid expenses |  | 243 |
| Other receivables |  | 2783 |
| **Total assets** |  | 1501821185 |
| **Liabilities** |  |  |
| Payable to custodian bank  | $627 |  |
| Payable for investments purchased  | 1736966 |  |
| Payable for fund shares redeemed | 924721 |  |
| Accrued management fee | 968039 |  |
| Distribution and service plan fees payable | 51752 |  |
| Other payables and accrued expenses | 99990 |  |
| Collateral on securities loaned | 14710383 |  |
| **Total liabilities** |  | 18492478 |
| **Net Assets**  |  | $1483328707 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1118606134 |
| Total accumulated earnings (loss) |  | 364722573 |
| **Net Assets** |  | $1483328707 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($133,706,393 ÷ 4,784,950 shares)(a) |  | $27.94 |
| Maximum offering price per share (100/94.25 of $27.94) |  | $29.64 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($19,804,185 ÷ 708,665 shares)(a) |  | $27.95 |
| Maximum offering price per share (100/96.50 of $27.95) |  | $28.96 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($19,500,731 ÷ 700,874 shares)(a) |  | $27.82 |
| **Global Commodity Stock :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($695,641,799 ÷ 24,842,006 shares) |  | $28.00 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($360,961,722 ÷ 12,902,692 shares) |  | $27.98 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($253,713,877 ÷ 9,082,808 shares) |  | $27.93 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $14634673 |
| Foreign Tax Reclaims |  | 1020609 |
| Income from Fidelity Central Funds (including $38,826 from security lending)  |  | 456435 |
| Security lending |  | 35 |
| Income before foreign taxes withheld |  | $16111752 |
| Less foreign taxes withheld |  | (452947) |
| **Total income** |  | 15658805 |
| **Expenses** |  |  |
| Management fee | $4775853 |  |
| Distribution and service plan fees | 270812 |  |
| Custodian fees and expenses | 21756 |  |
| Independent trustees' fees and expenses | 1632 |  |
| Registration fees | 76742 |  |
| Audit fees | 27082 |  |
| Legal | 1264 |  |
| Miscellaneous | 1445 |  |
| Total expenses before reductions | 5176586 |  |
| Expense reductions | (891) |  |
| Total expenses after reductions |  | 5175695 |
| **Net Investment income (loss)** |  | 10483110 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 88054923 |  |
| Fidelity Central Funds | 444 |  |
| Foreign currency transactions | 39685 |  |
| Total net realized gain (loss) |  | 88095052 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of increase in deferred foreign taxes of $66,910)  | 231488453 |  |
| Assets and liabilities in foreign currencies | 12142 |  |
| Total change in net unrealized appreciation (depreciation) |  | 231500595 |
| **Net gain (loss)** |  | 319595647 |
| **Net increase (decrease) in net assets resulting from operations** |  | $330078757 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $10483110 | $20146926 |
| &nbsp;&nbsp;Net realized gain (loss) | 88095052<br>| 46072903<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 231500595 | 52444152<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 330078757<br>| 118663981<br>|
| Distributions to shareholders | (23928789)<br>| (22299940)<br>|
| Share transactions - net increase (decrease) | 256379795<br>| (105157403)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 562529763<br>| (8793362)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 920798944 | 929592306<br>|
| &nbsp;&nbsp;End of period | $1483328707 | $920798944 |

---

**Financial Highlights** 

**Fidelity Advisor® Global Commodity Stock Fund Class A**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.29 | $19.07 | $17.33 | $19.50 | $16.35 | $10.80 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .39  | .33  | .35  | .47  | .48  |
| Net realized and unrealized gain (loss)  | 6.96  | 2.25  | 1.73  | (2.20)  | 3.19  | 5.24  |
| Total from investment operations  | 7.15  | 2.64  | 2.06  | (1.85)  | 3.66  | 5.72  |
| Distributions from net investment income  | (.50)  | (.42)  | (.32)  | (.32)  | (.51)  | (.17)  |
| Total distributions  | (.50)  | (.42)  | (.32)  | (.32)  | (.51)  | (.17)  |
| Net asset value, end of period  | $27.94 | $21.29 | $19.07 | $17.33 | $19.50 | $16.35 |
| **Total Return** C,D,E | 34.22% <br>| 14.15%  | 12.13%  | (9.64)%  | 23.27%  | 53.37%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.11% H | 1.14%  | 1.16%  | 1.19%  | 1.19%  | 1.23%  |
| Expenses net of fee waivers, if any  | 1.11% H<br>| 1.14%  | 1.16%  | 1.18%  | 1.19%  | 1.22%  |
| Expenses net of all reductions, if any  | 1.11% H | 1.14%  | 1.16%  | 1.18%  | 1.19%  | 1.22%  |
| Net investment income (loss)  | 1.50% H | 2.02%  | 1.76%  | 1.88%  | 2.53%  | 3.18%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $133706 | $92451 | $87347 | $95290 | $128363 | $45343 |
| Portfolio turnover rate I | 65% H<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Global Commodity Stock Fund Class M**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.27 | $19.03 | $17.28 | $19.46 | $16.32 | $10.78 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .34  | .28  | .30  | .42  | .44  |
| Net realized and unrealized gain (loss)  | 6.97  | 2.25  | 1.73  | (2.20)  | 3.19  | 5.24  |
| Total from investment operations  | 7.13  | 2.59  | 2.01  | (1.90)  | 3.61  | 5.68  |
| Distributions from net investment income  | (.45)  | (.35)  | (.26)  | (.28)  | (.47)  | (.14)  |
| Total distributions  | (.45)  | (.35)  | (.26)  | (.28)  | (.47)  | (.14)  |
| Net asset value, end of period  | $27.95 | $21.27 | $19.03 | $17.28 | $19.46 | $16.32 |
| **Total Return** C,D,E | 34.09% <br>| 13.87%  | 11.85%  | (9.90)%  | 22.93%  | 52.97%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.36% H | 1.39%  | 1.42%  | 1.47%  | 1.46%  | 1.52%  |
| Expenses net of fee waivers, if any  | 1.36% H<br>| 1.39%  | 1.41%  | 1.45%  | 1.46%  | 1.52%  |
| Expenses net of all reductions, if any  | 1.36% H | 1.39%  | 1.41%  | 1.45%  | 1.46%  | 1.52%  |
| Net investment income (loss)  | 1.25% H | 1.77%  | 1.51%  | 1.62%  | 2.26%  | 2.88%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $19804 | $15071 | $14821 | $17928 | $24513 | $8888 |
| Portfolio turnover rate I | 65% H<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the sales charges.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Global Commodity Stock Fund Class C**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.12 | $18.89 | $17.11 | $19.29 | $16.17 | $10.68 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .24  | .18  | .21  | .33  | .37  |
| Net realized and unrealized gain (loss)  | 6.94  | 2.24  | 1.74  | (2.18)  | 3.18  | 5.20  |
| Total from investment operations  | 7.03  | 2.48  | 1.92  | (1.97)  | 3.51  | 5.57  |
| Distributions from net investment income  | (.33)  | (.25)  | (.14)  | (.21)  | (.39)  | (.08)  |
| Total distributions  | (.33)  | (.25)  | (.14)  | (.21)  | (.39)  | (.08)  |
| Net asset value, end of period  | $27.82 | $21.12 | $18.89 | $17.11 | $19.29 | $16.17 |
| **Total Return** C,D,E | 33.70% <br>| 13.30%  | 11.34%  | (10.34)%  | 22.34%  | 52.30%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.86% H | 1.90%  | 1.91%  | 1.94%  | 1.94%  | 1.97%  |
| Expenses net of fee waivers, if any  | 1.86% H<br>| 1.90%  | 1.91%  | 1.93%  | 1.93%  | 1.96%  |
| Expenses net of all reductions, if any  | 1.86% H | 1.90%  | 1.91%  | 1.93%  | 1.93%  | 1.96%  |
| Net investment income (loss)  | .75% H | 1.26%  | 1.01%  | 1.13%  | 1.78%  | 2.44%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $19501 | $14870 | $18118 | $23853 | $34984 | $11020 |
| Portfolio turnover rate I | 65% H<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns do not include the effect of the contingent deferred sales charge.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity® Global Commodity Stock Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.36 | $19.13 | $17.38 | $19.55 | $16.39 | $10.82 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .23  | .45  | .38  | .40  | .52  | .53  |
| Net realized and unrealized gain (loss)  | 6.98  | 2.25  | 1.73  | (2.21)  | 3.19  | 5.26  |
| Total from investment operations  | 7.21  | 2.70  | 2.11  | (1.81)  | 3.71  | 5.79  |
| Distributions from net investment income  | (.57)  | (.47)  | (.36)  | (.36)  | (.55)  | (.22)  |
| Total distributions  | (.57)  | (.47)  | (.36)  | (.36)  | (.55)  | (.22)  |
| Net asset value, end of period  | $28.00 | $21.36 | $19.13 | $17.38 | $19.55 | $16.39 |
| **Total Return** C,D | 34.44% <br>| 14.50%  | 12.42%  | (9.47)%  | 23.57%  | 53.95%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .81% G | .85%  | .89%  | .97%  | .94%  | .94%  |
| Expenses net of fee waivers, if any  | .81% G<br>| .85%  | .89%  | .95%  | .94%  | .94%  |
| Expenses net of all reductions, if any  | .81% G | .85%  | .89%  | .95%  | .94%  | .94%  |
| Net investment income (loss)  | 1.80% G | 2.31%  | 2.03%  | 2.12%  | 2.78%  | 3.46%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $695642 | $380664 | $356627 | $428912 | $893636 | $546863 |
| Portfolio turnover rate H | 65% G<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Global Commodity Stock Fund Class I**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.33 | $19.11 | $17.37 | $19.54 | $16.39 | $10.81 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .44  | .37  | .40  | .52  | .53  |
| Net realized and unrealized gain (loss)  | 6.98  | 2.25  | 1.74  | (2.20)  | 3.19  | 5.25  |
| Total from investment operations  | 7.20  | 2.69  | 2.11  | (1.80)  | 3.71  | 5.78  |
| Distributions from net investment income  | (.55)  | (.47)  | (.37)  | (.37)  | (.56)  | (.20)  |
| Total distributions  | (.55)  | (.47)  | (.37)  | (.37)  | (.56)  | (.20)  |
| Net asset value, end of period  | $27.98 | $21.33 | $19.11 | $17.37 | $19.54 | $16.39 |
| **Total Return** C,D | 34.41% <br>| 14.45%  | 12.45%  | (9.42)%  | 23.56%  | 53.97%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .86% G | .89%  | .90%  | .92%  | .92%  | .93%  |
| Expenses net of fee waivers, if any  | .86% G<br>| .89%  | .90%  | .91%  | .92%  | .93%  |
| Expenses net of all reductions, if any  | .86% G | .89%  | .90%  | .91%  | .92%  | .93%  |
| Net investment income (loss)  | 1.75% G | 2.27%  | 2.02%  | 2.15%  | 2.80%  | 3.48%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $360962 | $248642 | $260235 | $351709 | $499191 | $85252 |
| Portfolio turnover rate H | 65% G<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Global Commodity Stock Fund Class Z**<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $21.31 | $19.10 | $17.37 | $19.53 | $16.38 | $10.81 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .24  | .46  | .40  | .43  | .54  | .56  |
| Net realized and unrealized gain (loss)  | 6.96  | 2.24  | 1.74  | (2.21)  | 3.19  | 5.23  |
| Total from investment operations  | 7.20  | 2.70  | 2.14  | (1.78)  | 3.73  | 5.79  |
| Distributions from net investment income  | (.58)  | (.49)  | (.41)  | (.38)  | (.58)  | (.22)  |
| Total distributions  | (.58)  | (.49)  | (.41)  | (.38)  | (.58)  | (.22)  |
| Net asset value, end of period  | $27.93 | $21.31 | $19.10 | $17.37 | $19.53 | $16.38 |
| **Total Return** C,D | 34.49% <br>| 14.54%  | 12.62%  | (9.30)%  | 23.72%  | 54.07%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .74% G | .76%  | .77%  | .79%  | .79%  | .80%  |
| Expenses net of fee waivers, if any  | .74% G<br>| .76%  | .76%  | .78%  | .79%  | .80%  |
| Expenses net of all reductions, if any  | .74% G | .76%  | .76%  | .78%  | .79%  | .80%  |
| Net investment income (loss)  | 1.88% G | 2.40%  | 2.16%  | 2.29%  | 2.93%  | 3.60%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $253714 | $169102 | $192445 | $187090 | $234430 | $60837 |
| Portfolio turnover rate H | 65% G<br>| 78%  | 49%  | 113%  | 42%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Global Commodity Stock Fund (the Fund) is a non-diversified fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Global Commodity Stock, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets and Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $417800084 |
| **Gross unrealized depreciation** | <u>(9922971)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$407877113</u> |
| **Tax cost** | <u>$1088916652</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | <u>$(138145579)</u> |
| **Total capital loss carryforward** | <u>$(138145579)</u> |

---

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Global Commodity Stock Fund** | 614300936 | 383603665 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.

The Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.

---

| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .88 |
| **Class M** | .89 |
| **Class C** | .88 |
| **Global Commodity Stock** | .89 |
| **Class I** | .86 |
| **Class Z** | .73 |

---

One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:

---

| | |
|:---|:---|
|  | **Total Management Fee Rate %** |
| **Class A** | .84 |
| **Class M** | .84 |
| **Class C** | .84 |
| **Global Commodity Stock** | .79 |
| **Class I** | .84 |
| **Class Z** | .72 |

---

**Distribution and Service Plan Fees.** In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Distribution Fee** | **Service Fee** | **Total Fees ($)** | **Retained by FDC ($)** |
| **Class A**  | - % | .25% | 139694 | 7193 |
| **Class M** | .25% | .25% | 44418 | 568 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>86700</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6964</u> |
|  |  |  | <u>270812</u> | <u>14725</u> |

---

**Sales Load.** FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares. For the period, sales charge amounts retained by FDC were as follows:

---

| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Class A** | 44643 |
| **Class M** | 973 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>15</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>45631</u> |

---

*A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.*

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Global Commodity Stock Fund** | 5454 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Global Commodity Stock Fund** | 17465905 | 10628381 | 3836099 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Global Commodity Stock Fund** | 3203 |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Global Commodity Stock Fund** | 713 |

---

**7. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Global Commodity Stock Fund** | 4236 | - | - |

---

At period end, the value of any non-cash collateral is presented below. Non-cash collateral is held by a third-party bank for the benefit of a fund and the borrower. A fund is not permitted to sell or re-pledge non-cash collateral except in the event of borrower default, and therefore it is not included in the Schedule of Investments or Statement of Assets and Liabilities.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Global Commodity Stock Fund** | 2999037 |

---

**8. Expense Reductions.** 

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $891.

**9. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **April 30, 2026** | **Year ended**<br> **October 31, 2025** |
| **Fidelity Global Commodity Stock Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $2111386 | $1857948 |
| Class M | 318740 | 269585 |
| Class C | 230665 | 226107 |
| Global Commodity Stock | 10218793 | 8595843 |
| Class I | 6431210 | 6380702 |
| Class Z | <u>4617995</u> | <u>4969755</u> |
| Total  | <u>$23928789</u> | <u>$22299940</u> |

---

**10. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** |
| **Fidelity Global Commodity Stock Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 951194 | 574389 | $25097632 | $11373867 |
| Reinvestment of distributions  | 94697 | 97364 | 2101320 | 1799280 |
| Shares redeemed | <u>(603451)</u> | <u>(909558)</u> | <u>(15006080)</u> | <u>(17320864)</u> |
| Net increase (decrease) | <u>442440</u> | <u>(237805)</u> | <u>$12192872</u> | <u>$(4147717)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 63885 | 105136 | $1628257 | $2041492 |
| Reinvestment of distributions  | 14277 | 14411 | 317097 | 266612 |
| Shares redeemed | <u>(78016)</u> | <u>(189847)</u> | <u>(1963494)</u> | <u>(3592233)</u> |
| Net increase (decrease) | <u>146</u> | <u>(70300)</u> | <u>$(18140)</u> | <u>$(1284129)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 67672 | 53497 | $1783726 | $1006614 |
| Reinvestment of distributions  | 10408 | 12154 | 230632 | 224242 |
| Shares redeemed | <u>(81351)</u> | <u>(320736)</u> | <u>(2045710)</u> | <u>(5980576)</u> |
| Net increase (decrease) | <u>(3271)</u> | <u>(255085)</u> | <u>$(31352)</u> | <u>$(4749720)</u> |
| **Global Commodity Stock** |  |  |  |  |
| Shares sold | 10344459 | 5005044 | $272659251 | $94796551 |
| Reinvestment of distributions  | 356656 | 359913 | 7921330 | 6654781 |
| Shares redeemed | <u>(3677192)</u> | <u>(6184876)</u> | <u>(96971588)</u> | <u>(117429519)</u> |
| Net increase (decrease) | <u>7023923</u> | <u>(819919)</u> | <u>$183608993</u> | <u>$(15978187)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 3158756 | 3483992 | $81369612 | $66204537 |
| Reinvestment of distributions  | 288003 | 341157 | 6393676 | 6301165 |
| Shares redeemed | <u>(2201455)</u> | <u>(5785839)</u> | <u>(56439853)</u> | <u>(111461873)</u> |
| Net increase (decrease) | <u>1245304</u> | <u>(1960690)</u> | <u>$31323435</u> | <u>$(38956171)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 3119677 | 2624865 | $80728759 | $50294009 |
| Reinvestment of distributions  | 193185 | 214240 | 4279047 | 3950577 |
| Shares redeemed | <u>(2164007)</u> | <u>(4983426)</u> | <u>(55703819)</u> | <u>(94286065)</u> |
| Net increase (decrease) | <u>1148855</u> | <u>(2144321)</u> | <u>$29303987</u> | <u>$(40041479)</u> |

---

**11. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**12. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131284_4.jpg)<br>

1.879383.117 GCS-SANN-0626

**Fidelity® Sustainable International Equity Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131306_1.jpg)

![](img131306_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_SIC-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Sustainable International Equity Fund](#Sub_Sec_Fund_6462_SIC-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6462_SIC-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SIC-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SIC-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SIC-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SIC-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Sustainable International Equity Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.6%** | &nbsp;&nbsp;**Common Stocks - 96.6%** | &nbsp;&nbsp;**Common Stocks - 96.6%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.1%  |  |  |
| Financials - 1.4% |  |  |
| Capital Markets - 1.4% |  |  |
| Macquarie Group Ltd  | 2114 | 363169 |
| Industrials - 1.0% |  |  |
| Commercial Services & Supplies - 1.0% |  |  |
| Brambles Ltd  | 15422 | 252442 |
| Materials - 0.7% |  |  |
| Metals & Mining - 0.7% |  |  |
| IperionX Ltd (a) | 65546 | 199935 |
| TOTAL AUSTRALIA |  | 815546 |
| AUSTRIA - 0.4%  |  |  |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Wienerberger AG  | 3868 | 111858 |
| BELGIUM - 2.9%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| KBC Group NV  | 1838 | 244299 |
| Health Care - 2.0% |  |  |
| Pharmaceuticals - 2.0% |  |  |
| UCB SA (a) | 1921 | 521260 |
| TOTAL BELGIUM |  | 765559 |
| CANADA - 0.9%  |  |  |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Cameco Corp  | 2000 | 245857 |
| CHINA - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 1000 | 64242 |
| FINLAND - 1.5%  |  |  |
| Information Technology - 1.0% |  |  |
| Communications Equipment - 1.0% |  |  |
| Nokia Oyj ADR  | 18290 | 236124 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Fortum Oyj  | 5673 | 142750 |
| TOTAL FINLAND |  | 378874 |
| FRANCE - 3.7%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Hermes International SCA  | 114 | 218094 |
| Consumer Staples - 0.7% |  |  |
| Personal Care Products - 0.7% |  |  |
| L'Oreal SA  | 448 | 192467 |
| Financials - 2.2% |  |  |
| Capital Markets - 1.3% |  |  |
| Amundi SA (b)(c) | 3329 | 321162 |
| Insurance - 0.9% |  |  |
| AXA SA  | 4765 | 229698 |
| TOTAL FINANCIALS |  | 550860 |
| TOTAL FRANCE |  | 961421 |
| GERMANY - 4.6%  |  |  |
| Financials - 0.9% |  |  |
| Capital Markets - 0.9% |  |  |
| Deutsche Boerse AG  | 738 | 226417 |
| Industrials - 1.9% |  |  |
| Air Freight & Logistics - 0.9% |  |  |
| Deutsche Post AG  | 4062 | 240528 |
| Industrial Conglomerates - 1.0% |  |  |
| Siemens AG  | 883 | 262394 |
| TOTAL INDUSTRIALS |  | 502922 |
| Materials - 1.2% |  |  |
| Construction Materials - 1.2% |  |  |
| Heidelberg Materials AG  | 1372 | 302723 |
| Real Estate - 0.6% |  |  |
| Real Estate Management & Development - 0.6% |  |  |
| Instone Real Estate Group SE (b)(c) | 15444 | 159869 |
| TOTAL GERMANY |  | 1191931 |
| HONG KONG - 1.8%  |  |  |
| Financials - 1.8% |  |  |
| Insurance - 1.8% |  |  |
| AIA Group Ltd  | 42461 | 466170 |
| IRELAND - 3.1%  |  |  |
| Consumer Staples - 0.3% |  |  |
| Food Products - 0.3% |  |  |
| Kerry Group PLC Class A  | 851 | 72112 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| AIB Group PLC  | 20562 | 236451 |
| Industrials - 1.9% |  |  |
| Building Products - 1.9% |  |  |
| Kingspan Group PLC  | 5276 | 487015 |
| TOTAL IRELAND |  | 795578 |
| ITALY - 3.5%  |  |  |
| Financials - 2.5% |  |  |
| Banks - 2.5% |  |  |
| Intesa Sanpaolo SpA  | 52295 | 355304 |
| UniCredit SpA  | 3862 | 298465 |
| TOTAL FINANCIALS |  | 653769 |
| Industrials - 1.0% |  |  |
| Electrical Equipment - 1.0% |  |  |
| Prysmian SpA  | 1711 | 260259 |
| TOTAL ITALY |  | 914028 |
| JAPAN - 21.7%  |  |  |
| Consumer Discretionary - 4.3% |  |  |
| Broadline Retail - 0.6% |  |  |
| Pan Pacific International Holdings Corp  | 28557 | 161520 |
| Household Durables - 2.4% |  |  |
| Panasonic Holdings Corp  | 13716 | 280572 |
| Sony Group Corp  | 16865 | 337896 |
|  |  | 618468 |
| Specialty Retail - 1.3% |  |  |
| Fast Retailing Co Ltd  | 713 | 335641 |
| TOTAL CONSUMER DISCRETIONARY |  | 1115629 |
| Financials - 5.8% |  |  |
| Banks - 3.5% |  |  |
| Mizuho Financial Group Inc  | 7552 | 324757 |
| Sumitomo Mitsui Financial Group Inc  | 16563 | 584824 |
|  |  | 909581 |
| Financial Services - 2.1% |  |  |
| ORIX Corp  | 15973 | 537595 |
| Insurance - 0.2% |  |  |
| Tokio Marine Holdings Inc  | 1155 | 52895 |
| TOTAL FINANCIALS |  | 1500071 |
| Health Care - 1.6% |  |  |
| Health Care Equipment & Supplies - 1.1% |  |  |
| Hoya Corp  | 1477 | 275821 |
| Pharmaceuticals - 0.5% |  |  |
| Chugai Pharmaceutical Co Ltd  | 200 | 10666 |
| Takeda Pharmaceutical Co Ltd  | 3774 | 126175 |
|  |  | 136841 |
| TOTAL HEALTH CARE |  | 412662 |
| Industrials - 7.2% |  |  |
| Industrial Conglomerates - 2.1% |  |  |
| Hitachi Ltd  | 16853 | 535898 |
| Trading Companies & Distributors - 5.1% |  |  |
| ITOCHU Corp  | 73132 | 906333 |
| Marubeni Corp  | 10680 | 415677 |
|  |  | 1322010 |
| TOTAL INDUSTRIALS |  | 1857908 |
| Information Technology - 2.8% |  |  |
| Electronic Equipment, Instruments & Components - 0.8% |  |  |
| Ibiden Co Ltd  | 2534 | 216733 |
| Semiconductors & Semiconductor Equipment - 2.0% |  |  |
| Advantest Corp  | 1165 | 217528 |
| Disco Corp  | 288 | 137025 |
| Renesas Electronics Corp  | 7920 | 160163 |
|  |  | 514716 |
| TOTAL INFORMATION TECHNOLOGY |  | 731449 |
| TOTAL JAPAN |  | 5617719 |
| KOREA (SOUTH) - 1.1%  |  |  |
| Information Technology - 1.1% |  |  |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| SK Hynix Inc  | 308 | 276428 |
| NETHERLANDS - 10.7%  |  |  |
| Communication Services - 2.4% |  |  |
| Diversified Telecommunication Services - 2.4% |  |  |
| Koninklijke KPN NV  | 116298 | 621909 |
| Financials - 2.8% |  |  |
| Banks - 2.8% |  |  |
| ING Groep NV  | 25004 | 723651 |
| Health Care - 0.7% |  |  |
| Biotechnology - 0.7% |  |  |
| Argenx SE (a) | 246 | 192920 |
| Information Technology - 4.8% |  |  |
| Semiconductors & Semiconductor Equipment - 4.8% |  |  |
| ASML Holding NV  | 864 | 1248952 |
| TOTAL NETHERLANDS |  | 2787432 |
| NEW ZEALAND - 0.0%  |  |  |
| Utilities - 0.0% |  |  |
| Electric Utilities - 0.0% |  |  |
| Contact Energy Ltd  | 256 | 1438 |
| PORTUGAL - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Banco Comercial Portugues SA  | 233261 | 248854 |
| SINGAPORE - 1.6%  |  |  |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| DBS Group Holdings Ltd  | 8756 | 403745 |
| SPAIN - 4.7%  |  |  |
| Consumer Staples - 0.0% |  |  |
| Personal Care Products - 0.0% |  |  |
| Puig Brands SA Class B  | 400 | 8290 |
| Financials - 2.7% |  |  |
| Banks - 2.7% |  |  |
| Banco Santander SA  | 35997 | 438533 |
| CaixaBank SA  | 19685 | 250558 |
| TOTAL FINANCIALS |  | 689091 |
| Utilities - 2.0% |  |  |
| Electric Utilities - 1.8% |  |  |
| Iberdrola SA  | 19605 | 459624 |
| Independent Power and Renewable Electricity Producers - 0.2% |  |  |
| EDP Renovaveis SA (a) | 269 | 4477 |
| Grenergy Renovables SA (a) | 466 | 66068 |
|  |  | 70545 |
| TOTAL UTILITIES |  | 530169 |
| TOTAL SPAIN |  | 1227550 |
| SWEDEN - 4.4%  |  |  |
| Financials - 1.9% |  |  |
| Financial Services - 1.9% |  |  |
| Investor AB B Shares  | 12511 | 504085 |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| Swedish Orphan Biovitrum AB B Shares (a) | 2028 | 93967 |
| Industrials - 1.1% |  |  |
| Machinery - 0.3% |  |  |
| Indutrade AB  | 3761 | 80330 |
| Trading Companies & Distributors - 0.8% |  |  |
| AddTech AB B Shares  | 5330 | 192470 |
| TOTAL INDUSTRIALS |  | 272800 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Lagercrantz Group AB B Shares  | 6344 | 165733 |
| Technology Hardware, Storage & Peripherals - 0.4% |  |  |
| Dynavox Group AB (a) | 12929 | 114758 |
| TOTAL INFORMATION TECHNOLOGY |  | 280491 |
| TOTAL SWEDEN |  | 1151343 |
| SWITZERLAND - 2.3%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| Cie Financiere Richemont SA Series A  | 561 | 107665 |
| Industrials - 1.9% |  |  |
| Electrical Equipment - 1.9% |  |  |
| ABB Ltd  | 4871 | 492652 |
| TOTAL SWITZERLAND |  | 600317 |
| TAIWAN - 4.6%  |  |  |
| Information Technology - 4.6% |  |  |
| Semiconductors & Semiconductor Equipment - 4.6% |  |  |
| MediaTek Inc  | 1281 | 107280 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 15616 | 1087542 |
| TOTAL TAIWAN |  | 1194822 |
| UNITED KINGDOM - 13.7%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Compass Group PLC  | 2673 | 75512 |
| Consumer Staples - 1.4% |  |  |
| Food Products - 0.4% |  |  |
| Cranswick PLC  | 1391 | 102022 |
| Personal Care Products - 1.0% |  |  |
| Unilever PLC  | 4267 | 248831 |
| TOTAL CONSUMER STAPLES |  | 350853 |
| Financials - 1.9% |  |  |
| Banks - 0.6% |  |  |
| Lloyds Banking Group PLC  | 118759 | 161429 |
| Insurance - 1.3% |  |  |
| Admiral Group PLC  | 2572 | 118225 |
| Aviva PLC  | 25772 | 218692 |
|  |  | 336917 |
| TOTAL FINANCIALS |  | 498346 |
| Health Care - 3.6% |  |  |
| Pharmaceuticals - 3.6% |  |  |
| Astrazeneca PLC  | 4817 | 914255 |
| Industrials - 3.4% |  |  |
| Commercial Services & Supplies - 0.4% |  |  |
| Johnson Service Group PLC  | 68858 | 120824 |
| Trading Companies & Distributors - 3.0% |  |  |
| Diploma PLC  | 4251 | 401448 |
| Howden Joinery Group PLC  | 34840 | 368364 |
|  |  | 769812 |
| TOTAL INDUSTRIALS |  | 890636 |
| Real Estate - 0.2% |  |  |
| Residential REITs - 0.2% |  |  |
| Grainger PLC  | 23207 | 50621 |
| Utilities - 2.9% |  |  |
| Electric Utilities - 1.3% |  |  |
| SSE PLC  | 9679 | 346551 |
| Multi-Utilities - 1.6% |  |  |
| National Grid PLC  | 22386 | 400722 |
| TOTAL UTILITIES |  | 747273 |
| TOTAL UNITED KINGDOM |  | 3527496 |
| UNITED STATES - 5.1%  |  |  |
| Health Care - 1.2% |  |  |
| Health Care Equipment & Supplies - 1.2% |  |  |
| Alcon AG  | 4101 | 305574 |
| Industrials - 3.0% |  |  |
| Electrical Equipment - 3.0% |  |  |
| Schneider Electric SE  | 2454 | 780884 |
| Materials - 0.9% |  |  |
| Construction Materials - 0.9% |  |  |
| CRH PLC  | 1006 | 119131 |
| Holcim AG  | 1346 | 125079 |
| TOTAL MATERIALS |  | 244210 |
| TOTAL UNITED STATES |  | 1330668 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $19,626,696) |  | <br> **25078876** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $794,516)<br>| 3.69 | 794357 | **794516** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.6%**<br> (Cost $20,421,212)<br>| <br>**25873392** |
| **NET OTHER ASSETS (LIABILITIES) - 0.4%**  | **92735** |
| **NET ASSETS - 100.0%** | **25966127** |

---

**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 $481,031 or 1.9% of net assets.

(c) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $481,031 or 1.9% of net assets.

(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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 816403 | 6483683 | 6505548 | 15384 | (22) | - | 794516 | 794357 | 0.0% |
| Total | 816403 | 6483683 | 6505548 | 15384 | (22) | - | 794516 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 621909 | - | 621909 | - |
| Consumer Discretionary | 1516900 | 75512 | 1441388 | - |
| Consumer Staples | 623722 | 374891 | 248831 | - |
| Energy | 245857 | 245857 | - | - |
| Financials | 7308978 | 2330301 | 4978677 | - |
| Health Care | 2440638 | 1835056 | 605582 | - |
| Industrials | 5861760 | 1650451 | 4211309 | - |
| Information Technology | 3968266 | 516615 | 3451651 | - |
| Materials | 858726 | 230989 | 627737 | - |
| Real Estate | 210490 | 210490 | - | - |
| Utilities | 1421630 | 213295 | 1208335 | - |
|  **Money Market Funds** | 794516 | 794516 | - | - |
| **Total Investments in Securities:** | 25873392 | 8477973 | 17395419 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $19,626,696) | $25078876 |  |
| Fidelity Central Funds (cost $794,516) | 794516 |  |
| Total Investment in Securities (cost $20,421,212) |  | $25873392 |
| Foreign currency held at value (cost $2) |  | 2 |
| Receivable for investments sold |  | 8937 |
| Receivable for fund shares sold |  | 20060 |
| Dividends receivable |  | 93396 |
| Reclaims receivable |  | 17365 |
| Distributions receivable from Fidelity Central Funds |  | 2726 |
| Prepaid expenses |  | 4 |
| Receivable from investment adviser for expense reductions |  | 12402 |
| **Total assets** |  | 26028284 |
| **Liabilities** |  |  |
| Payable for fund shares redeemed | $195 |  |
| Accrued management fee | 16405 |  |
| Distribution and service plan fees payable | 600 |  |
| Audit fee payable | 35235 |  |
| Custody fee payable | 9722 |  |
| **Total liabilities** |  | 62157 |
| **Net Assets**  |  | $25966127 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $20798008 |
| Total accumulated earnings (loss) |  | 5168119 |
| **Net Assets** |  | $25966127 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($517,209 ÷ 41,749 shares)(a) |  | $12.39 |
| Maximum offering price per share (100/94.25 of $12.39) |  | $13.15 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($485,304 ÷ 39,295 shares)(a) |  | $12.35 |
| Maximum offering price per share (100/96.50 of $12.35) |  | $12.80 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($369,972 ÷ 30,059 shares)(a) |  | $12.31 |
| **Fidelity Sustainable International Equity Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($23,725,619 ÷ 1,915,999 shares) |  | $12.38 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($329,740 ÷ 26,605 shares) |  | $12.39 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($538,283 ÷ 43,197 shares) |  | $12.46 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $253685 |
| Income from Fidelity Central Funds  |  | 15384 |
| Income before foreign taxes withheld |  | $269069 |
| Less foreign taxes withheld |  | (31935) |
| **Total income** |  | 237134 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $89011 |  |
| Performance adjustment | (4083) |  |
| Distribution and service plan fees | 3417 |  |
| Custodian fees and expenses | 17460 |  |
| Independent trustees' fees and expenses | 30 |  |
| Registration fees | 79206 |  |
| Audit fees | 40317 |  |
| Legal | 10 |  |
| Miscellaneous | 25 |  |
| Total expenses before reductions | 225393 |  |
| Expense reductions | (106723) |  |
| Total expenses after reductions |  | 118670 |
| **Net Investment income (loss)** |  | 118464 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 433843 |  |
| Fidelity Central Funds | (22) |  |
| Foreign currency transactions | (3392) |  |
| Total net realized gain (loss) |  | 430429 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 1313139 |  |
| Assets and liabilities in foreign currencies | 2740 |  |
| Total change in net unrealized appreciation (depreciation) |  | 1315879 |
| **Net gain (loss)** |  | 1746308 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1864772 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $118464 | $204382 |
| &nbsp;&nbsp;Net realized gain (loss) | 430429<br>| 208859<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 1315879 | 2363801<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1864772<br>| 2777042<br>|
| Distributions to shareholders | (419433)<br>| (205446)<br>|
| Share transactions - net increase (decrease) | 6741843<br>| 4460319<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 8187182<br>| 7031915<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 17778945 | 10747030<br>|
| &nbsp;&nbsp;End of period | $25966127 | $17778945 |

---

**Financial Highlights** 

**Fidelity Advisor® Sustainable International Equity Fund Class A**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.63 | $9.73 | $7.85 | $7.20 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .05  | .13  | .11  | .10  | .07  |
| Net realized and unrealized gain (loss)  | .93  | 1.92  | 1.89  | .58  | (2.87)  |
| Total from investment operations  | .98  | 2.05  | 2.00  | .68  | (2.80)  |
| Distributions from net investment income  | (.22)  | (.15)  | (.12)  | (.03)  | -  |
| Total distributions  | (.22)  | (.15)  | (.12)  | (.03)  | -  |
| Net asset value, end of period  | $12.39 | $11.63 | $9.73 | $7.85 | $7.20 |
| **Total Return** D,E,F | 8.55% <br>| 21.41%  | 25.71%  | 9.43%  | (28.00)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | 2.29% I | 2.36%  | 3.09%  | 3.91%  | 7.77% I,J |
| Expenses net of fee waivers, if any  | 1.30% I<br>| 1.30%  | 1.30%  | 1.29%  | 1.30% I |
| Expenses net of all reductions, if any  | 1.30% I | 1.29%  | 1.29%  | 1.29%  | 1.28% I |
| Net investment income (loss)  | .85% I | 1.31%  | 1.20%  | 1.23%  | 1.18% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $517 | $382 | $304 | $353 | $185 |
| Portfolio turnover rate K | 69% I<br>| 49%  | 50%  | 36%  | 43% I |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Audit fees are not annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable International Equity Fund Class M**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.60 | $9.71 | $7.83 | $7.19 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .04  | .11  | .09  | .08  | .05  |
| Net realized and unrealized gain (loss)  | .91  | 1.92  | 1.89  | .57  | (2.86)  |
| Total from investment operations  | .95  | 2.03  | 1.98  | .65  | (2.81)  |
| Distributions from net investment income  | (.20)  | (.14)  | (.10)  | (.01)  | -  |
| Total distributions  | (.20)  | (.14)  | (.10)  | (.01)  | -  |
| Net asset value, end of period  | $12.35 | $11.60 | $9.71 | $7.83 | $7.19 |
| **Total Return** D,E,F | 8.36% <br>| 21.15%  | 25.40%  | 9.08%  | (28.10)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | 2.55% I | 2.51%  | 3.06%  | 4.24%  | 8.02% I,J |
| Expenses net of fee waivers, if any  | 1.55% I<br>| 1.55%  | 1.55%  | 1.55%  | 1.55% I |
| Expenses net of all reductions, if any  | 1.55% I | 1.54%  | 1.54%  | 1.54%  | 1.55% I |
| Net investment income (loss)  | .60% I | 1.06%  | .95%  | .98%  | .91% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $485 | $443 | $270 | $196 | $180 |
| Portfolio turnover rate K | 69% I<br>| 49%  | 50%  | 36%  | 43% I |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the sales charges.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Audit fees are not annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable International Equity Fund Class C**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.53 | $9.64 | $7.78 | $7.16 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .01  | .06  | .04  | .04  | .02  |
| Net realized and unrealized gain (loss)  | .92  | 1.91  | 1.87  | .58  | (2.86)  |
| Total from investment operations  | .93  | 1.97  | 1.91  | .62  | (2.84)  |
| Distributions from net investment income  | (.15)  | (.08)  | (.05)  | -  | -  |
| Total distributions  | (.15)  | (.08)  | (.05)  | -  | -  |
| Net asset value, end of period  | $12.31 | $11.53 | $9.64 | $7.78 | $7.16 |
| **Total Return** D,E,F | 8.15% <br>| 20.61%  | 24.60%  | 8.66%  | (28.40)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |  |  |
| Expenses before reductions  | 3.04% I | 3.08%  | 3.53%  | 4.73%  | 8.51% I,J |
| Expenses net of fee waivers, if any  | 2.05% I<br>| 2.05%  | 2.05%  | 2.04%  | 2.05% I |
| Expenses net of all reductions, if any  | 2.05% I | 2.04%  | 2.04%  | 2.04%  | 2.05% I |
| Net investment income (loss)  | .10% I | .56%  | .45%  | .48%  | .41% I |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $370 | $333 | $260 | $194 | $179 |
| Portfolio turnover rate K | 69% I<br>| 49%  | 50%  | 36%  | 43% I |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Total returns do not include the effect of the contingent deferred sales charge.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

J*Audit fees are not annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity® Sustainable International Equity Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.65 | $9.75 | $7.87 | $7.21 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .07  | .16  | .14  | .12  | .08  |
| Net realized and unrealized gain (loss)  | .92  | 1.92  | 1.88  | .58  | (2.87)  |
| Total from investment operations  | .99  | 2.08  | 2.02  | .70  | (2.79)  |
| Distributions from net investment income  | (.26)  | (.18)  | (.14)  | (.04)  | -  |
| Total distributions  | (.26)  | (.18)  | (.14)  | (.04)  | -  |
| Net asset value, end of period  | $12.38 | $11.65 | $9.75 | $7.87 | $7.21 |
| **Total Return** D,E | 8.67% <br>| 21.74%  | 25.98%  | 9.73%  | (27.90)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 2.01% H | 2.06%  | 2.55%  | 3.72%  | 7.64% H,I |
| Expenses net of fee waivers, if any  | 1.05% H<br>| 1.05%  | 1.05%  | 1.04%  | 1.05% H |
| Expenses net of all reductions, if any  | 1.05% H | 1.04%  | 1.04%  | 1.04%  | 1.01% H |
| Net investment income (loss)  | 1.10% H | 1.56%  | 1.45%  | 1.48%  | 1.45% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $23726 | $15781 | $9326 | $5563 | $3908 |
| Portfolio turnover rate J | 69% H<br>| 49%  | 50%  | 36%  | 43% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable International Equity Fund Class I**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.65 | $9.75 | $7.87 | $7.21 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .07  | .16  | .14  | .12  | .08  |
| Net realized and unrealized gain (loss)  | .92  | 1.92  | 1.88  | .58  | (2.87)  |
| Total from investment operations  | .99  | 2.08  | 2.02  | .70  | (2.79)  |
| Distributions from net investment income  | (.25)  | (.18)  | (.14)  | (.04)  | -  |
| Total distributions  | (.25)  | (.18)  | (.14)  | (.04)  | -  |
| Net asset value, end of period  | $12.39 | $11.65 | $9.75 | $7.87 | $7.21 |
| **Total Return** D,E | 8.67% <br>| 21.72%  | 25.98%  | 9.73%  | (27.90)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 2.08% H | 2.10%  | 2.60%  | 3.74%  | 7.52% H,I |
| Expenses net of fee waivers, if any  | 1.05% H<br>| 1.05%  | 1.05%  | 1.04%  | 1.05% H |
| Expenses net of all reductions, if any  | 1.05% H | 1.05%  | 1.04%  | 1.04%  | 1.03% H |
| Net investment income (loss)  | 1.10% H | 1.56%  | 1.45%  | 1.48%  | 1.43% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $330 | $323 | $249 | $199 | $180 |
| Portfolio turnover rate J | 69% H<br>| 49%  | 50%  | 36%  | 43% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Fidelity Advisor® Sustainable International Equity Fund Class Z**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.68 | $9.79 | $7.89 | $7.22 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .07  | .18  | .15  | .14  | .09  |
| Net realized and unrealized gain (loss)  | .94  | 1.92  | 1.89  | .57  | (2.87)  |
| Total from investment operations  | 1.01  | 2.10  | 2.04  | .71  | (2.78)  |
| Distributions from net investment income  | (.23)  | (.21)  | (.14)  | (.04)  | -  |
| Total distributions  | (.23)  | (.21)  | (.14)  | (.04)  | -  |
| Net asset value, end of period  | $12.46 | $11.68 | $9.79 | $7.89 | $7.22 |
| **Total Return** D,E | 8.79% <br>| 21.88%  | 26.18%  | 9.86%  | (27.80)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | 1.99% H | 2.12%  | 2.48%  | 3.56%  | 7.46% H,I |
| Expenses net of fee waivers, if any  | .90% H<br>| .90%  | .90%  | .89%  | .90% H |
| Expenses net of all reductions, if any  | .90% H | .90%  | .89%  | .89%  | .90% H |
| Net investment income (loss)  | 1.25% H | 1.71%  | 1.60%  | 1.63%  | 1.56% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $538 | $517 | $338 | $287 | $181 |
| Portfolio turnover rate J | 69% H<br>| 49%  | 50%  | 36%  | 43% H |

---

A*For the period February 10, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Sustainable International Equity Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Fidelity Sustainable International Equity Fund, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $5699356 |
| **Gross unrealized depreciation** | <u>(542519)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$5156837</u> |
| **Tax cost** | <u>$20716555</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(440940) |
| Long-term | <u>(4707)</u> |
| **Total capital loss carryforward** | <u>$(445647)</u> |

---

Due to large subscriptions in a prior period, approximately $166,045 of the Fund's realized capital losses are subject to limitation. Due to this limitation, the Fund will only be permitted to use approximately $74,614 of those capital losses per year to offset capital gains. Additionally, the Fund is subject to an annual limit on its use of some of its unrealized capital losses to offset capital gains in future periods. If those losses are realized and the limitation prevents the Fund from using any of those losses in a future period, those capital losses will be available to offset capital gains in subsequent periods.

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Sustainable International Equity Fund** | 13768091 | 7297575 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.

The Fund's management contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. The management fee is determined by calculating a basic fee and then applying a performance adjustment. When determining a class's basic fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual basic fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.

---

| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .82 |
| **Class M** | .79 |
| **Class C** | .78 |
| **Fidelity Sustainable International Equity Fund** | .88 |
| **Class I** | .79 |
| **Class Z** | .73 |

---

One-twelfth of the basic fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the basic fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:

---

| | |
|:---|:---|
|  | **Total Management Fee Rate %** |
| **Class A** | .82 |
| **Class M** | .79 |
| **Class C** | .78 |
| **Fidelity Sustainable International Equity Fund** | .81 |
| **Class I** | .79 |
| **Class Z** | .73 |

---

The performance adjustment rate is calculated monthly by comparing over the performance period the Fund's performance to that of the performance adjustment index listed below. Returns for certain performance adjustment indexes are adjusted for tax withholding rates applicable to U.S. based mutual funds.

---

| | |
|:---|:---|
|  | **Performance Adjustment Index** |
| **Fidelity Sustainable International Equity Fund** | MSCI EAFE Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Fidelity Sustainable International Equity Fund. To the extent that other classes of the Fund have higher expenses, this could result in those classes bearing a larger positive performance adjustment and smaller negative performance adjustment than would be the case if each class's own performance were considered. The performance period is the most recent 36 month period. The maximum annualized performance adjustment rate is ± .10% of the Fund's average net assets over the performance period. The performance adjustment rate is divided by twelve and multiplied by the Fund's average net assets over the performance period, and the resulting dollar amount is proportionately added to or subtracted from a class's basic fee. For the reporting period, the total annualized performance adjustment was (.04) %.

**Distribution and Service Plan Fees.** In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Distribution Fee** | **Service Fee** | **Total Fees ($)** | **Retained by FDC ($)** |
| **Class A**  | - % | .25% | 531 | 399 |
| **Class M** | .25% | .25% | 1150 | 773 |
| **Class C** | .75% | .25% | 1736 | <u>1619</u> |
|  |  |  | <u>3417</u> | <u>2791</u> |

---

**Sales Load.** FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.

For the period, sales charge amounts retained by FDC were as follows:

---

| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Class A** | 195 |
| **Class M** | 6 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>5</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>206</u> |

---

*A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.*

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Sustainable International Equity Fund** | 6 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Sustainable International Equity Fund** | 1008060 | 617988 | (2250) |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Sustainable International Equity Fund** | 13 |

---

**7. Expense Reductions.**

The investment adviser contractually agreed to reimburse expenses of each class to the extent annual operating expenses exceeded certain levels of class-level average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement.

The following classes were in reimbursement during the period:

---

| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Class A** | 1.30% | 2116 |
| **Class M** | 1.55% | 2298 |
| **Class C** | 2.05% | 1711 |
| **Fidelity Sustainable International Equity Fund** | 1.05% | 96031 |
| **Class I** | 1.05% | 1641 |
| **Class Z** | .90% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2800</u> |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; <u>106597</u> |

---

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $126.

**8. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **April 30, 2026** | **Year ended**<br> **October 31, 2025** |
| **Fidelity Sustainable International Equity Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $7093 | $4752 |
| Class M | 7776 | 3796 |
| Class C | 4243 | 2180 |
| Fidelity Sustainable International Equity Fund | 383747 | 176943 |
| Class I | 6909 | 4626 |
| Class Z | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>9665</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>13149</u> |
| Total  | <u>$419433</u> | <u>$205446</u> |

---

**9. Share Transactions.**

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025** |
| **Fidelity Sustainable International Equity Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 8322 | 1137 | $102544 | $10618 |
| Reinvestment of distributions  | 622 | 491 | 7093 | 4752 |
| Shares redeemed | <u>-</u> | <u>(81)</u> | <u>-</u> | <u>(766)</u> |
| Net increase (decrease) | <u>8944</u> | <u>1547</u> | <u>$109637</u> | <u>$14604</u> |
| **Class M** |  |  |  |  |
| Shares sold | 442 | 9943 | $5255 | $92805 |
| Reinvestment of distributions  | 683 | 393 | 7776 | 3796 |
| Shares redeemed | <u>(1)</u> | <u>(3)</u> | <u>(8)</u> | <u>(38)</u> |
| Net increase (decrease) | <u>1124</u> | <u>10333</u> | <u>$13023</u> | <u>$96563</u> |
| **Class C** |  |  |  |  |
| Shares sold | 821 | 1895 | $9945 | $19476 |
| Reinvestment of distributions  | 374 | 226 | 4243 | 2180 |
| Shares redeemed | <u>(50)</u> | <u>(121)</u> | <u>(572)</u> | <u>(1201)</u> |
| Net increase (decrease) | <u>1145</u> | <u>2000</u> | <u>$13616</u> | <u>$20455</u> |
| **Fidelity Sustainable International Equity Fund** |  |  |  |  |
| Shares sold | 705525 | 706434 | $8353829 | $7436128 |
| Reinvestment of distributions  | 31293 | 16573 | 356432 | 160261 |
| Shares redeemed | <u>(175115)</u> | <u>(325272)</u> | <u>(2078523)</u> | <u>(3369841)</u> |
| Net increase (decrease) | <u>561703</u> | <u>397735</u> | <u>$6631738</u> | <u>$4226548</u> |
| **Class I** |  |  |  |  |
| Shares sold | - | 1710 | $- | $20006 |
| Reinvestment of distributions  | 606 | 478 | 6909 | 4626 |
| Shares redeemed | <u>(1747)</u> | <u>(1)</u> | <u>(20297)</u> | <u>(6)</u> |
| Net increase (decrease) | <u>(1141)</u> | <u>2187</u> | <u>$(13388)</u> | <u>$24626</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 432 | 29923 | $5137 | $296820 |
| Reinvestment of distributions  | 688 | 1158 | 7884 | 11208 |
| Shares redeemed | <u>(2180)</u> | <u>(21380)</u> | <u>(25804)</u> | <u>(230505)</u> |
| Net increase (decrease) | <u>(1060)</u> | <u>9701</u> | <u>$(12783)</u> | <u>$77523</u> |

---

**10. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.

---

| | |
|:---|:---|
|  | **Fidelity Sustainable Multi-Asset Fund** |
| Fidelity Sustainable International Equity Fund | 52% |

---

**11. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131306_4.jpg)<br>

1.9904430.104 SIC-SANN-0626

**Fidelity® Series Emerging Markets Fund**

**Fidelity® Series Emerging Markets Opportunities Fund**

**Fidelity® Series International Growth Fund**

**Fidelity® Series International Small Cap Fund**

**Fidelity® Series International Value Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131265_1.jpg)

![](img131265_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_GSV-S-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Emerging Markets Fund](#Sub_Sec_Fund_3225_GSV-S-SANN)** |
| **[Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7Consolidated_GSV-S-SANN_1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Emerging Markets Opportunities Fund](#Sub_Sec_Fund_2117_GSV-S-SANN)** |
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_GSV-S-SANN_2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series International Growth Fund](#Sub_Sec_Fund_2282_GSV-S-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series International Small Cap Fund](#Sub_Sec_Fund_2284_GSV-S-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series International Value Fund](#Sub_Sec_Fund_2283_GSV-S-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3225_GSV-S-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_GSV-S-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_GSV-S-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_GSV-S-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_GSV-S-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Funds nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Emerging Markets Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 92.9%** | &nbsp;&nbsp;**Common Stocks - 92.9%** | &nbsp;&nbsp;**Common Stocks - 92.9%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.1%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| YPF SA Class D ADR (a)(d) | 237276 | 10715383 |
| AUSTRALIA - 1.4%  |  |  |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Anglogold Ashanti Plc  | 1184363 | 111010344 |
| BRAZIL - 5.0%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| Vibra Energia SA  | 6142626 | 41308099 |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Raia Drogasil SA  | 4836513 | 21429197 |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| PRIO SA/Brazil (a) | 5109016 | 68518469 |
| Financials - 1.2% |  |  |
| Banks - 0.5% |  |  |
| Itau Unibanco Holding SA  | 3019933 | 26340100 |
| NU Holdings Ltd/Cayman Islands Class A (a) | 856189 | 12397617 |
|  |  | 38737717 |
| Capital Markets - 0.5% |  |  |
| Banco BTG Pactual SA unit  | 3377768 | 40477554 |
| Financial Services - 0.2% |  |  |
| StoneCo Ltd Class A (d) | 1124926 | 12351687 |
| TOTAL FINANCIALS |  | 91566958 |
| Industrials - 0.6% |  |  |
| Ground Transportation - 0.6% |  |  |
| Localiza Rent a Car SA  | 4716101 | 43724746 |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.3% |  |  |
| Vale SA ADR  | 1764329 | 28864422 |
| Utilities - 1.3% |  |  |
| Electric Utilities - 0.9% |  |  |
| Axia Energia SA  | 5404489 | 67722554 |
| Water Utilities - 0.4% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 4686945 | 31376919 |
| TOTAL UTILITIES |  | 99099473 |
| TOTAL BRAZIL |  | 394511364 |
| CHILE - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Banco de Chile  | 95236400 | 17853187 |
| CHINA - 23.9%  |  |  |
| Communication Services - 4.4% |  |  |
| Entertainment - 0.4% |  |  |
| Netease Inc  | 425900 | 9969971 |
| Netease Inc ADR  | 198650 | 23343362 |
|  |  | 33313333 |
| Interactive Media & Services - 4.0% |  |  |
| Baidu Inc A Shares (a) | 2252952 | 35576401 |
| Tencent Holdings Ltd  | 4556402 | 276720617 |
|  |  | 312297018 |
| TOTAL COMMUNICATION SERVICES |  | 345610351 |
| Consumer Discretionary - 6.3% |  |  |
| Automobiles - 1.1% |  |  |
| BYD Co Ltd H Shares  | 6354679 | 84531008 |
| Broadline Retail - 3.1% |  |  |
| Alibaba Group Holding Ltd  | 11031939 | 181817541 |
| Alibaba Group Holding Ltd ADR  | 201400 | 26560632 |
| JD.com Inc A Shares  | 502000 | 7605362 |
| JD.com Inc ADR  | 247253 | 7496711 |
| PDD Holdings Inc Class A ADR (a) | 99122 | 9900305 |
|  |  | 233380551 |
| Diversified Consumer Services - 0.2% |  |  |
| New Oriental Education & Technology Group Inc ADR  | 326500 | 17856284 |
| Hotels, Restaurants & Leisure - 1.9% |  |  |
| H World Group Ltd ADR (d) | 1216660 | 62828322 |
| Luckin Coffee Inc ADR (a) | 286000 | 10010000 |
| Meituan B Shares (a)(b)(c) | 1445400 | 15551330 |
| Trip.com Group Ltd ADR (a) | 776866 | 42113906 |
| Yum China Holdings Inc  | 428637 | 20767463 |
|  |  | 151271021 |
| TOTAL CONSUMER DISCRETIONARY |  | 487038864 |
| Consumer Staples - 0.6% |  |  |
| Beverages - 0.5% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 377600 | 11282738 |
| Kweichow Moutai Co Ltd A Shares (China)  | 137225 | 27836681 |
|  |  | 39119419 |
| Personal Care Products - 0.1% |  |  |
| Mao Geping Cosmetics Co LTD H Shares (d) | 1217763 | 11245462 |
| TOTAL CONSUMER STAPLES |  | 50364881 |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| PetroChina Co Ltd H Shares  | 16773519 | 25873393 |
| Financials - 4.4% |  |  |
| Banks - 1.9% |  |  |
| China Construction Bank Corp H Shares  | 99655079 | 112490649 |
| China Merchants Bank Co Ltd H Shares  | 1577986 | 9550824 |
| Industrial & Commercial Bank of China Ltd H Shares  | 34093677 | 30716707 |
|  |  | 152758180 |
| Insurance - 2.5% |  |  |
| China Life Insurance Co Ltd H Shares  | 11020692 | 40655931 |
| China Pacific Insurance Group Co Ltd H Shares  | 4423138 | 19308626 |
| People's Insurance Co Group of China Ltd/The H Shares  | 10134000 | 6933852 |
| PICC Property & Casualty Co Ltd H Shares  | 12633958 | 22821509 |
| Ping An Insurance Group Co of China Ltd H Shares  | 12395740 | 100753848 |
|  |  | 190473766 |
| TOTAL FINANCIALS |  | 343231946 |
| Health Care - 1.8% |  |  |
| Biotechnology - 0.4% |  |  |
| Innovent Biologics Inc (a)(b)(c) | 1230791 | 14372479 |
| Zai Lab Ltd ADR (a)(d) | 894582 | 19358754 |
|  |  | 33731233 |
| Life Sciences Tools & Services - 1.0% |  |  |
| Wuxi Apptec Co Ltd H Shares (b)(c) | 3958365 | 69540220 |
| Pharmaceuticals - 0.4% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (b)(c) | 7289815 | 34915797 |
| TOTAL HEALTH CARE |  | 138187250 |
| Industrials - 3.2% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 1206886 | 77533989 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 1497500 | 33177562 |
|  |  | 110711551 |
| Machinery - 1.8% |  |  |
| Airtac International Group  | 789000 | 36955571 |
| Huaming Power Equipment Co Ltd A Shares (China)  | 5946000 | 21423158 |
| Sany Heavy Equipment International Holdings Co Ltd  | 5194000 | 7179599 |
| UBTech Robotics Corp Ltd H Shares (a) | 559602 | 7672140 |
| Weichai Power Co Ltd H Shares  | 14185000 | 70512045 |
|  |  | 143742513 |
| TOTAL INDUSTRIALS |  | 254454064 |
| Information Technology - 1.0% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 36600 | 1501459 |
| Semiconductors & Semiconductor Equipment - 0.7% |  |  |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 326100 | 12036735 |
| Montage Technology Co Ltd A Shares (China)  | 1383900 | 35567324 |
|  |  | 47604059 |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Xiaomi Corp B Shares (a)(b)(c) | 7300747 | 27393878 |
| TOTAL INFORMATION TECHNOLOGY |  | 76499396 |
| Materials - 1.9% |  |  |
| Construction Materials - 0.1% |  |  |
| Anhui Conch Cement Co Ltd H Shares  | 4693643 | 11759648 |
| Metals & Mining - 1.8% |  |  |
| Chuangxin Industries Holdings Ltd H Shares  | 6905331 | 20066973 |
| MMG Ltd (a) | 42678046 | 46044749 |
| Zijin Mining Group Co Ltd H Shares  | 15728068 | 73041176 |
|  |  | 139152898 |
| TOTAL MATERIALS |  | 150912546 |
| TOTAL CHINA |  | 1872172691 |
| GREECE - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Eurobank SA  | 6377783 | 27545849 |
| National Bank of Greece SA  | 1450074 | 22847730 |
| TOTAL GREECE |  | 50393579 |
| HUNGARY - 1.4%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| OTP Bank Nyrt  | 516426 | 69235666 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Richter Gedeon Nyrt  | 898561 | 37848754 |
| TOTAL HUNGARY |  | 107084420 |
| INDIA - 8.0%  |  |  |
| Communication Services - 0.9% |  |  |
| Wireless Telecommunication Services - 0.9% |  |  |
| Bharti Airtel Ltd  | 3431633 | 68600803 |
| Consumer Discretionary - 0.2% |  |  |
| Automobiles - 0.1% |  |  |
| Mahindra & Mahindra Ltd  | 302217 | 9912280 |
| Broadline Retail - 0.1% |  |  |
| Meesho  | 3450577 | 7075746 |
| TOTAL CONSUMER DISCRETIONARY |  | 16988026 |
| Energy - 1.3% |  |  |
| Oil, Gas & Consumable Fuels - 1.3% |  |  |
| Coal India Ltd  | 5781100 | 29404038 |
| Reliance Industries Ltd  | 4784812 | 72571230 |
| TOTAL ENERGY |  | 101975268 |
| Financials - 3.6% |  |  |
| Banks - 3.2% |  |  |
| Axis Bank Ltd  | 1565501 | 20998235 |
| HDFC Bank Ltd  | 13260422 | 108462259 |
| ICICI Bank Ltd  | 7416183 | 99516801 |
| State Bank of India  | 2369366 | 26800964 |
|  |  | 255778259 |
| Capital Markets - 0.1% |  |  |
| HDFC Asset Management Co Ltd (b)(c) | 236058 | 6773513 |
| Consumer Finance - 0.3% |  |  |
| Bajaj Finance Ltd  | 2137635 | 21233204 |
| TOTAL FINANCIALS |  | 283784976 |
| Health Care - 0.1% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Max Healthcare Institute Ltd  | 914613 | 9623505 |
| Industrials - 0.6% |  |  |
| Construction & Engineering - 0.6% |  |  |
| Larsen & Toubro Ltd  | 1142803 | 48548016 |
| Information Technology - 0.2% |  |  |
| IT Services - 0.2% |  |  |
| Tata Consultancy Services Ltd  | 478512 | 12557757 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Tata Steel Ltd  | 7597531 | 16989950 |
| Utilities - 0.9% |  |  |
| Independent Power and Renewable Electricity Producers - 0.9% |  |  |
| NTPC Ltd  | 16576477 | 69996681 |
| TOTAL INDIA |  | 629064982 |
| INDONESIA - 0.2%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Telkom Indonesia Persero Tbk PT  | 41258947 | 6749261 |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Bank Central Asia Tbk PT  | 33645302 | 11407112 |
| TOTAL INDONESIA |  | 18156373 |
| KOREA (SOUTH) - 17.1%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| KT Corp  | 401120 | 16631799 |
| Entertainment - 0.3% |  |  |
| HYBE Co Ltd  | 114870 | 20714915 |
| TOTAL COMMUNICATION SERVICES |  | 37346714 |
| Consumer Discretionary - 1.0% |  |  |
| Automobiles - 1.0% |  |  |
| Hyundai Motor Co  | 130219 | 47502127 |
| Kia Corp  | 322454 | 33471965 |
| TOTAL CONSUMER DISCRETIONARY |  | 80974092 |
| Consumer Staples - 0.8% |  |  |
| Personal Care Products - 0.3% |  |  |
| APR Corp/Korea  | 88070 | 25451086 |
| Tobacco - 0.5% |  |  |
| KT&G Corp  | 299526 | 36343199 |
| TOTAL CONSUMER STAPLES |  | 61794285 |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| KB Financial Group Inc  | 449923 | 49585165 |
| Shinhan Financial Group Co Ltd  | 714237 | 48814274 |
| Woori Financial Group Inc  | 1188323 | 27272644 |
| TOTAL FINANCIALS |  | 125672083 |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| Samsung Biologics Co Ltd (a)(b)(c) | 22291 | 22367671 |
| Industrials - 1.8% |  |  |
| Aerospace & Defense - 0.7% |  |  |
| Hanwha Aerospace Co Ltd  | 35302 | 34127006 |
| Korea Aerospace Industries Ltd  | 160795 | 18540030 |
|  |  | 52667036 |
| Electrical Equipment - 0.9% |  |  |
| LS Electric Co Ltd  | 366188 | 70776362 |
| Machinery - 0.2% |  |  |
| Samsung Heavy Industries Co Ltd (a) | 958120 | 21239596 |
| TOTAL INDUSTRIALS |  | 144682994 |
| Information Technology - 11.1% |  |  |
| Semiconductors & Semiconductor Equipment - 4.3% |  |  |
| SK Hynix Inc  | 384135 | 344758470 |
| Technology Hardware, Storage & Peripherals - 6.8% |  |  |
| Samsung Electronics Co Ltd  | 3512298 | 532303928 |
| TOTAL INFORMATION TECHNOLOGY |  | 877062398 |
| TOTAL KOREA (SOUTH) |  | 1349900237 |
| MALAYSIA - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| CIMB Group Holdings Bhd  | 6131943 | 11846546 |
| MEXICO - 3.0%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| America Movil SAB de CV Series B  | 12661921 | 16823607 |
| Consumer Staples - 0.5% |  |  |
| Beverages - 0.3% |  |  |
| Fomento Economico Mexicano SAB de CV ADR  | 179070 | 21173237 |
| Food Products - 0.2% |  |  |
| Gruma SAB de CV Series B  | 1201533 | 20852205 |
| TOTAL CONSUMER STAPLES |  | 42025442 |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Grupo Financiero Banorte SAB de CV  | 8485814 | 92142382 |
| Industrials - 0.2% |  |  |
| Transportation Infrastructure - 0.2% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Series B  | 1093478 | 14511893 |
| Materials - 0.7% |  |  |
| Construction Materials - 0.7% |  |  |
| Cemex SAB de CV ADR  | 4657466 | 57286832 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Corp Inmobiliaria Vesta SAB de CV ADR  | 441761 | 15726692 |
| TOTAL MEXICO |  | 238516848 |
| PERU - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Credicorp Ltd  | 126688 | 41068449 |
| PHILIPPINES - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Transportation Infrastructure - 0.5% |  |  |
| International Container Terminal Services Inc  | 3188315 | 37038261 |
| POLAND - 0.5%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.1% |  |  |
| Allegro.eu SA (a)(b)(c) | 931612 | 7644780 |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 1236859 | 32293185 |
| TOTAL POLAND |  | 39937965 |
| RUSSIA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| LUKOIL PJSC (a)(e) | 568462 | 0 |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| Sberbank of Russia PJSC (a)(e) | 5098115 | 1 |
| TOTAL RUSSIA |  | 1 |
| SAUDI ARABIA - 1.5%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| Saudi Arabian Oil Co (b)(c) | 1375200 | 10178790 |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| Al Rajhi Bank  | 3526987 | 64464727 |
| Saudi National Bank/The  | 4381991 | 45893776 |
| TOTAL FINANCIALS |  | 110358503 |
| TOTAL SAUDI ARABIA |  | 120537293 |
| SOUTH AFRICA - 3.0%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Broadline Retail - 0.7% |  |  |
| Naspers Ltd Class N  | 956542 | 51796677 |
| Consumer Staples - 0.3% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Shoprite Holdings Ltd  | 1531747 | 25817397 |
| Financials - 1.2% |  |  |
| Banks - 0.9% |  |  |
| Capitec Bank Holdings Ltd  | 197503 | 51282248 |
| Standard Bank Group Ltd  | 935965 | 18007950 |
|  |  | 69290198 |
| Financial Services - 0.3% |  |  |
| FirstRand Ltd  | 4991796 | 26440112 |
| TOTAL FINANCIALS |  | 95730310 |
| Materials - 0.8% |  |  |
| Chemicals - 0.8% |  |  |
| Sasol Ltd (a) | 4465486 | 62068258 |
| TOTAL SOUTH AFRICA |  | 235412642 |
| TAIWAN - 23.6%  |  |  |
| Industrials - 1.2% |  |  |
| Electrical Equipment - 1.2% |  |  |
| Bizlink Holding Inc  | 1052842 | 94838823 |
| Information Technology - 22.4% |  |  |
| Communications Equipment - 0.3% |  |  |
| Accton Technology Corp  | 307376 | 22582805 |
| Electronic Equipment, Instruments & Components - 4.2% |  |  |
| Chroma ATE Inc  | 705000 | 48326176 |
| Delta Electronics Inc  | 2287927 | 160952474 |
| Elite Material Co Ltd  | 647727 | 96821433 |
| Hon Hai Precision Industry Co Ltd  | 2230880 | 15811363 |
| Yageo Corp  | 1172253 | 11989963 |
|  |  | 333901409 |
| Semiconductors & Semiconductor Equipment - 17.9% |  |  |
| ASE Technology Holding Co Ltd  | 6507129 | 102321569 |
| eMemory Technology Inc  | 13000 | 1651595 |
| MediaTek Inc  | 1401643 | 117383795 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 17086401 | 1189944270 |
|  |  | 1411301229 |
| TOTAL INFORMATION TECHNOLOGY |  | 1767785443 |
| TOTAL TAIWAN |  | 1862624266 |
| THAILAND - 0.6%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Kasikornbank PCL  | 5133994 | 30846080 |
| Industrials - 0.2% |  |  |
| Transportation Infrastructure - 0.2% |  |  |
| Airports of Thailand PCL  | 9854449 | 15600275 |
| TOTAL THAILAND |  | 46446355 |
| TURKEY - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 3904000 | 36309950 |
| UNITED ARAB EMIRATES - 0.8%  |  |  |
| Energy - 0.3% |  |  |
| Energy Equipment & Services - 0.3% |  |  |
| ADNOC Drilling Co PJSC  | 13899048 | 21417498 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 3928096 | 14758031 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| Aldar Properties PJSC  | 4740200 | 9949890 |
| Emaar Properties PJSC  | 5408500 | 17375052 |
| TOTAL REAL ESTATE |  | 27324942 |
| TOTAL UNITED ARAB EMIRATES |  | 63500471 |
| UNITED STATES - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| BeOne Medicines Ltd H Shares (a) | 1049138 | 23814561 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $4,207,709,894) |  | <br> **7317916168** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 3.1%** | &nbsp;&nbsp;**International Equity Funds - 3.1%** | &nbsp;&nbsp;**International Equity Funds - 3.1%** |
|  | Shares | Value ($)<br>|
| iShares Core MSCI Emerging Markets ETF <br>(Cost $236,947,432)<br>| 3172100 | **248978129** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.0%** | &nbsp;&nbsp;**Money Market Funds - 5.0%** | &nbsp;&nbsp;**Money Market Funds - 5.0%** | &nbsp;&nbsp;**Money Market Funds - 5.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 329944508 | 330010497 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 60320789 | 60326820 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $390,337,317) |  |  | **390337317** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.0%**<br> (Cost $4,834,994,643)<br>| <br>**7957231614** |
| **NET OTHER ASSETS (LIABILITIES) - (1.0)%**  | **(78164619)** |
| **NET ASSETS - 100.0%** | **7879066995** |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Non-income producing.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $208,738,458 or 2.6% of net assets.

(c) 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 $208,738,458 or 2.6% of net assets.

(d) Security or a portion of the security is on loan at period end.

(e) Level 3 security.

(f) 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.

(g) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 153857026 | 1273584366 | 1097427210 | 2971036 | (3685) | - | 330010497 | 329944508 | 0.5% |
| Fidelity Securities Lending Cash Central Fund | 53652710 | 298149535 | 291474750 | 320543 | (675) | - | 60326820 | 60320789 | 0.2% |
| Total | 207509736 | 1571733901 | 1388901960 | 3291579 | (4360) | - | 390337317 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 475130736 | 40166969 | 434963767 | - |
| Consumer Discretionary | 685750538 | 246486502 | 439264036 | - |
| Consumer Staples | 201431202 | 89272036 | 112159166 | - |
| Energy | 238678801 | 110830140 | 127848661 | - |
| Financials | 1422188994 | 615400250 | 806788743 | 1 |
| Health Care | 231841741 | 57207508 | 174634233 | - |
| Industrials | 689709022 | 94546589 | 595162433 | - |
| Information Technology | 2733904994 | - | 2733904994 | - |
| Materials | 427132352 | 197161598 | 229970754 | - |
| Real Estate | 43051634 | 43051634 | - | - |
| Utilities | 169096154 | 99099473 | 69996681 | - |
|  **International Equity Funds** | 248978129 | 248978129 | - | - |
|  **Money Market Funds** | 390337317 | 390337317 | - | - |
| **Total Investments in Securities:** | 7957231614 | 2232538145 | 5724693468 | 1 |

---

**Fidelity® Series Emerging Markets Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $76,794,430) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $4,444,657,326) | $7566894297 |  |
| Fidelity Central Funds (cost $390,337,317) | 390337317 |  |
| Total Investment in Securities (cost $4,834,994,643) |  | $7957231614 |
| Foreign currency held at value (cost $2,086,245) |  | 2086240 |
| Receivable for investments sold |  | 69314588 |
| Receivable for fund shares sold |  | 157148396 |
| Dividends receivable |  | 10768140 |
| Distributions receivable from Fidelity Central Funds |  | 613596 |
| Receivable from investment adviser for expense reductions |  | 62078 |
| Other receivables |  | 1496616 |
| **Total assets** |  | 8198721268 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $221914995 |  |
| Payable for fund shares redeemed | 26554817 |  |
| Other payables and accrued expenses | 10856965 |  |
| Collateral on securities loaned | 60327496 |  |
| **Total liabilities** |  | 319654273 |
| **Net Assets**  |  | $7879066995 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $4527443328 |
| Total accumulated earnings (loss) |  | 3351623667 |
| **Net Assets** |  | $7879066995 |
| **Net Asset Value**, offering price and redemption price per share ($7,879,066,995 ÷ 546,395,867 shares) |  | $14.42 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $64686380 |
| Income from Fidelity Central Funds (including $320,543 from security lending)  |  | 3291579 |
| Security lending |  | 22381 |
| Income before foreign taxes withheld |  | $68000340 |
| Less foreign taxes withheld |  | (6812480) |
| **Total income** |  | 61187860 |
| **Expenses** |  |  |
| Custodian fees and expenses | $654496 |  |
| Independent trustees' fees and expenses | 10337 |  |
| Total expenses before reductions | 664833 |  |
| Expense reductions | (216625) |  |
| Total expenses after reductions |  | 448208 |
| **Net Investment income (loss)** |  | 60739652 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $906,946)  | 467633080 |  |
| Fidelity Central Funds | (4360) |  |
| Foreign currency transactions | (2399846) |  |
| Total net realized gain (loss) |  | 465228874 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $16,110,154)  | 933875954 |  |
| Assets and liabilities in foreign currencies | 78467 |  |
| Total change in net unrealized appreciation (depreciation) |  | 933954421 |
| **Net gain (loss)** |  | 1399183295 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1459922947 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $60739652 | $124398905 |
| &nbsp;&nbsp;Net realized gain (loss) | 465228874<br>| 327939808<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 933954421 | 1161118436<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1459922947<br>| 1613457149<br>|
| Distributions to shareholders | (152290177)<br>| (147929266)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 591004058 | 756721008 |
| Reinvestment of distributions | 152290177<br>| 147929266<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (764267869) | (1722955111) |
| **Net increase (decrease) in net assets resulting from share transactions** | (20973634)<br>| (818304837)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1286659136<br>| 647223046<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 6592407859 | 5945184813<br>|
| &nbsp;&nbsp;End of period | $7879066995 | $6592407859 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 43120987 | 78984751 |
| Issued in reinvestment of distributions | 13256981<br>| 16418342<br>|
| &nbsp;&nbsp;Redeemed | (60517424) | (178559102) |
| &nbsp;&nbsp;Net increase (decrease) | (4139456) | (83156009) |

---

**Financial Highlights** 

**Fidelity® Series Emerging Markets Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $11.97 | $9.38 | $7.72 | $6.94 | $11.31 | $9.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .21  | .22  | .24  | .23  | .20  |
| Net realized and unrealized gain (loss)  | 2.62  | 2.63  | 1.65  | .74  | (4.24)  | 1.62  |
| Total from investment operations  | 2.73  | 2.84  | 1.87  | .98  | (4.01)  | 1.82  |
| Distributions from net investment income  | (.28)  | (.25)  | (.21)  | (.20)  | (.30)  | (.16)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (.07)  | -  |
| Total distributions  | (.28)  | (.25)  | (.21)  | (.20)  | (.36) C | (.16)  |
| Net asset value, end of period  | $14.42 | $11.97 | $9.38 | $7.72 | $6.94 | $11.31 |
| **Total Return** D,E | 23.40% <br>| 31.12%  | 24.61%  | 14.04%  | (36.53)%  | 18.88%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .02% H | .02%  | .03%  | .03%  | .04%  | .04%  |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | .01% H | .01%  | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 1.78% H | 2.15%  | 2.52%  | 2.96%  | 2.61%  | 1.70%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7879067 | $6592408 | $5945185 | $4904858 | $2436744 | $3239693 |
| Portfolio turnover rate I | 97% H<br>| 100%  | 91%  | 90%  | 65%  | 78%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Emerging Markets Opportunities Fund**

**Consolidated Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.4%** | &nbsp;&nbsp;**Common Stocks - 96.4%** | &nbsp;&nbsp;**Common Stocks - 96.4%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.1%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| YPF SA Class D ADR (b)(c) | 784200 | 35414472 |
| AUSTRALIA - 0.6%  |  |  |
| Materials - 0.6% |  |  |
| Metals & Mining - 0.6% |  |  |
| Anglogold Ashanti Plc (South Africa)  | 2089600 | 194619128 |
| BRAZIL - 5.2%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Household Durables - 0.1% |  |  |
| Construtora Tenda S/A  | 1760300 | 9989182 |
| Cury Construtora e Incorporadora SA  | 1538300 | 9338280 |
|  |  | 19327462 |
| Specialty Retail - 0.3% |  |  |
| Vibra Energia SA  | 14641773 | 98463396 |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Azzas 2154 SA  | 7212993 | 31492570 |
| TOTAL CONSUMER DISCRETIONARY |  | 149283428 |
| Energy - 0.8% |  |  |
| Oil, Gas & Consumable Fuels - 0.8% |  |  |
| Petroleo Brasileiro SA - Petrobras ADR (c) | 2834235 | 62438197 |
| Petroleo Brasileiro SA - Petrobras ADR (PN)  | 3378300 | 67160604 |
| PRIO SA/Brazil (b) | 8938600 | 119878110 |
| TOTAL ENERGY |  | 249476911 |
| Financials - 1.6% |  |  |
| Banks - 0.7% |  |  |
| Itau Unibanco Holding SA ADR  | 23923751 | 208136634 |
| Capital Markets - 0.9% |  |  |
| B3 SA - Brasil Bolsa Balcao  | 42686100 | 155424368 |
| XP Inc Class A  | 6689430 | 128169478 |
|  |  | 283593846 |
| TOTAL FINANCIALS |  | 491730480 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Hypera SA  | 4981418 | 22664758 |
| Industrials - 0.3% |  |  |
| Ground Transportation - 0.3% |  |  |
| Localiza Rent a Car SA  | 9738740 | 90291521 |
| Localiza Rent a Car SA (PN)  | 458483 | 4086885 |
| TOTAL INDUSTRIALS |  | 94378406 |
| Materials - 1.0% |  |  |
| Metals & Mining - 0.9% |  |  |
| Metalurgica Gerdau SA  | 38171920 | 76547350 |
| Vale SA ADR  | 12653970 | 207018949 |
|  |  | 283566299 |
| Paper & Forest Products - 0.1% |  |  |
| Dexco SA  | 26189304 | 27554884 |
| TOTAL MATERIALS |  | 311121183 |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| LOG Commercial Properties e Participacoes SA  | 2449751 | 13174374 |
| Utilities - 0.9% |  |  |
| Electric Utilities - 0.7% |  |  |
| Axia Energia SA  | 6304700 | 79002916 |
| Axia Energia SA Series C  | 1657146 | 20062584 |
| Equatorial SA  | 8651095 | 73935607 |
| Isa Energia Brasil sa  | 4459000 | 26573183 |
| Transmissora Alianca de Energia Eletrica S/A unit  | 2654300 | 22791881 |
|  |  | 222366171 |
| Water Utilities - 0.2% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 11108250 | 74364572 |
| TOTAL UTILITIES |  | 296730743 |
| TOTAL BRAZIL |  | 1628560283 |
| CHILE - 0.6%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Banco de Chile  | 302646000 | 56734563 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Antofagasta PLC  | 3058144 | 147707808 |
| TOTAL CHILE |  | 204442371 |
| CHINA - 22.8%  |  |  |
| Communication Services - 4.7% |  |  |
| Entertainment - 0.4% |  |  |
| Netease Inc  | 649062 | 15194012 |
| Netease Inc ADR  | 988823 | 116196591 |
|  |  | 131390603 |
| Interactive Media & Services - 4.3% |  |  |
| Baidu Inc A Shares (b) | 4550083 | 71850433 |
| Baidu Inc Class A ADR (b)(c) | 364726 | 46148781 |
| Tencent Holdings Ltd  | 20142309 | 1223288061 |
|  |  | 1341287275 |
| TOTAL COMMUNICATION SERVICES |  | 1472677878 |
| Consumer Discretionary - 6.0% |  |  |
| Automobile Components - 0.4% |  |  |
| Fuyao Glass Industry Group Co Ltd A Shares (China)  | 6659300 | 57676093 |
| Fuyao Glass Industry Group Co Ltd H Shares (d)(e) | 939650 | 7158593 |
| Hesai Group ADR (b)(c) | 1465198 | 33230691 |
| Hesai Group B Shares (c) | 1577130 | 35515155 |
|  |  | 133580532 |
| Automobiles - 1.0% |  |  |
| BYD Co Ltd A Shares (China)  | 4389212 | 66639299 |
| BYD Co Ltd H Shares  | 13212824 | 175759205 |
| XPeng Inc A Shares (b) | 6322599 | 50533466 |
|  |  | 292931970 |
| Broadline Retail - 3.2% |  |  |
| Alibaba Group Holding Ltd  | 48182616 | 794098367 |
| JD.com Inc A Shares  | 3760000 | 56964465 |
| PDD Holdings Inc Class A ADR (b)(c) | 1407613 | 140592386 |
|  |  | 991655218 |
| Diversified Consumer Services - 0.3% |  |  |
| New Oriental Education & Technology Group Inc  | 13931015 | 76014616 |
| New Oriental Education & Technology Group Inc ADR  | 382584 | 20923519 |
|  |  | 96938135 |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| H World Group Ltd ADR (c) | 1814235 | 93687096 |
| Luckin Coffee Inc ADR (b) | 891919 | 31217165 |
| Yum China Holdings Inc  | 406552 | 19697444 |
| Yum China Holdings Inc (Hong Kong)  | 1088799 | 53278486 |
|  |  | 197880191 |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| Laopu Gold Co Ltd H Shares (c) | 1421518 | 101494647 |
| Shenzhou International Group Holdings Ltd  | 6992403 | 42621660 |
|  |  | 144116307 |
| TOTAL CONSUMER DISCRETIONARY |  | 1857102353 |
| Consumer Staples - 0.8% |  |  |
| Beverages - 0.6% |  |  |
| China Resources Beer Holdings Co Ltd  | 9052166 | 31191097 |
| Kweichow Moutai Co Ltd A Shares (China)  | 402626 | 81674415 |
| Tsingtao Brewery Co Ltd H Shares  | 10431084 | 72116511 |
|  |  | 184982023 |
| Food Products - 0.1% |  |  |
| Uni-President China Holdings Ltd  | 27799000 | 25587518 |
| Personal Care Products - 0.1% |  |  |
| Mao Geping Cosmetics Co LTD H Shares (c) | 3596300 | 33210119 |
| TOTAL CONSUMER STAPLES |  | 243779660 |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| PetroChina Co Ltd H Shares  | 98474000 | 151897556 |
| Financials - 4.3% |  |  |
| Banks - 2.9% |  |  |
| Bank of Chengdu Co Ltd A Shares (China)  | 25359100 | 71169116 |
| Bank of Ningbo Co Ltd A Shares (China)  | 17293700 | 84758543 |
| China Construction Bank Corp H Shares  | 607243076 | 685455959 |
| Huaxia Bank Co Ltd A Shares (China)  | 65958154 | 67088053 |
|  |  | 908471671 |
| Capital Markets - 0.1% |  |  |
| China International Capital Corp Ltd H Shares (d)(e) | 20542400 | 53629891 |
| Insurance - 1.3% |  |  |
| China Life Insurance Co Ltd H Shares  | 22095538 | 81511638 |
| Ping An Insurance Group Co of China Ltd H Shares  | 40015270 | 325248226 |
|  |  | 406759864 |
| TOTAL FINANCIALS |  | 1368861426 |
| Health Care - 1.3% |  |  |
| Biotechnology - 0.6% |  |  |
| Akeso Inc (b)(d)(e) | 2827452 | 49599065 |
| Clover Biopharmaceuticals Ltd (b) | 5077500 | 1948904 |
| CStone Pharmaceuticals (b)(c)(d)(e) | 3403659 | 4087955 |
| Innovent Biologics Inc (b)(d)(e) | 5906366 | 68971190 |
| Remegen Co Ltd H Shares (b)(d)(e) | 1093777 | 14179843 |
| Sichuan Kelun-Biotech Biopharmaceutical Co Ltd H Shares (b) | 281850 | 17048312 |
| Zai Lab Ltd (b)(c) | 9924189 | 21299692 |
|  |  | 177134961 |
| Life Sciences Tools & Services - 0.4% |  |  |
| Wuxi Apptec Co Ltd H Shares (d)(e) | 6636860 | 116595791 |
| WuXi XDC Cayman Inc (b) | 3048488 | 23147880 |
|  |  | 139743671 |
| Pharmaceuticals - 0.3% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (d)(e) | 13087617 | 62685347 |
| Jiangsu Hengrui Pharmaceuticals Co Ltd A Shares (China)  | 3511904 | 27838460 |
| Jiangsu Hengrui Pharmaceuticals Co Ltd H Shares (c) | 1982671 | 16532080 |
|  |  | 107055887 |
| TOTAL HEALTH CARE |  | 423934519 |
| Industrials - 2.1% |  |  |
| Construction & Engineering - 0.1% |  |  |
| Sinopec Engineering Group Co Ltd H Shares  | 35842887 | 28956843 |
| Electrical Equipment - 1.0% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 3791500 | 243577372 |
| Hongfa Technology Co Ltd A Shares  | 7410820 | 33957843 |
| Hongfa Technology Co Ltd A Shares (China)  | 7440600 | 34094301 |
|  |  | 311629516 |
| Machinery - 1.0% |  |  |
| Airtac International Group  | 2503000 | 117236747 |
| Shenzhen Inovance Technology Co Ltd A Shares (China)  | 8094100 | 81653151 |
| Yangzijiang Shipbuilding (Holdings) Ltd  | 36753300 | 125345829 |
|  |  | 324235727 |
| TOTAL INDUSTRIALS |  | 664822086 |
| Information Technology - 0.7% |  |  |
| Communications Equipment - 0.0% |  |  |
| Hengtong Optic-electric Co Ltd A Shares (China)  | 1177300 | 11419188 |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| WUS Printed Circuit Kunshan Co Ltd A Shares (China)  | 1064500 | 16218196 |
| Semiconductors & Semiconductor Equipment - 0.6% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 2469562 | 137301978 |
| Montage Technology Co Ltd A Shares (China)  | 983100 | 25266447 |
| Shanghai Fudan Microelectronics Group Co Ltd H Shares  | 3661000 | 18296600 |
|  |  | 180865025 |
| Software - 0.1% |  |  |
| Pony AI Inc ADR (b)(c) | 2274752 | 22451802 |
| TOTAL INFORMATION TECHNOLOGY |  | 230954211 |
| Materials - 1.8% |  |  |
| Construction Materials - 0.4% |  |  |
| Anhui Conch Cement Co Ltd H Shares  | 19768000 | 49527569 |
| China Jushi Co Ltd A Shares (China)  | 14980100 | 76096581 |
|  |  | 125624150 |
| Metals & Mining - 1.4% |  |  |
| Aluminum Corp of China Ltd A Shares (China)  | 46884400 | 80988349 |
| MMG Ltd (b) | 168532000 | 181826825 |
| Zijin Mining Group Co Ltd A Shares (China)  | 35398100 | 174451887 |
|  |  | 437267061 |
| TOTAL MATERIALS |  | 562891211 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| China Overseas Land & Investment Ltd  | 5972900 | 10259505 |
| China Resources Land Ltd  | 10943220 | 45978307 |
| KE Holdings Inc A Shares  | 5616300 | 31185247 |
| Longfor Group Holdings Ltd (c)(d)(e) | 4305500 | 4458033 |
| TOTAL REAL ESTATE |  | 91881092 |
| Utilities - 0.3% |  |  |
| Gas Utilities - 0.3% |  |  |
| ENN Energy Holdings Ltd  | 4998100 | 39181678 |
| Kunlun Energy Co Ltd  | 57808000 | 55631276 |
| TOTAL UTILITIES |  | 94812954 |
| TOTAL CHINA |  | 7163614946 |
| FRANCE - 0.1%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| Gaztransport Et Technigaz SA  | 94600 | 22982649 |
| GREECE - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Alpha Bank SA  | 19760764 | 79304585 |
| Piraeus Bank SA  | 12996369 | 121262849 |
| TOTAL GREECE |  | 200567434 |
| HONG KONG - 0.0%  |  |  |
| Communication Services - 0.0% |  |  |
| Entertainment - 0.0% |  |  |
| Huanxi Media Group Ltd (b) | 41618380 | 1363085 |
| INDIA - 9.8%  |  |  |
| Communication Services - 0.6% |  |  |
| Wireless Telecommunication Services - 0.6% |  |  |
| Bharti Airtel Ltd  | 10046981 | 200846350 |
| Consumer Discretionary - 1.1% |  |  |
| Automobiles - 0.5% |  |  |
| Mahindra & Mahindra Ltd  | 4474645 | 146761867 |
| Broadline Retail - 0.6% |  |  |
| Meesho  | 47625376 | 97660502 |
| Meesho (g) | 39468303 | 80955573 |
|  |  | 178616075 |
| Hotels, Restaurants & Leisure - 0.0% |  |  |
| MakeMyTrip Ltd (b)(c) | 383929 | 18125288 |
| TOTAL CONSUMER DISCRETIONARY |  | 343503230 |
| Consumer Staples - 0.2% |  |  |
| Tobacco - 0.2% |  |  |
| ITC Ltd  | 18706154 | 62285385 |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| Coal India Ltd  | 15656300 | 79631636 |
| Reliance Industries Ltd  | 18952384 | 287450753 |
| TOTAL ENERGY |  | 367082389 |
| Financials - 3.6% |  |  |
| Banks - 2.3% |  |  |
| Canara Bank  | 58544028 | 83559829 |
| HDFC Bank Ltd  | 45364401 | 371053454 |
| ICICI Bank Ltd  | 21374849 | 286826337 |
|  |  | 741439620 |
| Consumer Finance - 0.9% |  |  |
| Bajaj Finance Ltd  | 15885101 | 157787268 |
| Shriram Finance Ltd  | 13418017 | 133455524 |
|  |  | 291242792 |
| Financial Services - 0.1% |  |  |
| Pine Labs Ltd (g) | 8022102 | 16503983 |
| Insurance - 0.3% |  |  |
| HDFC Life Insurance Co Ltd (d)(e) | 13457567 | 83594109 |
| TOTAL FINANCIALS |  | 1132780504 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Max Healthcare Institute Ltd  | 4240978 | 44623324 |
| Life Sciences Tools & Services - 0.1% |  |  |
| Divi's Laboratories Ltd  | 548794 | 37762891 |
| Pharmaceuticals - 0.4% |  |  |
| Sun Pharmaceutical Industries Ltd  | 4084462 | 78244249 |
| Torrent Pharmaceuticals Ltd  | 648418 | 28648527 |
|  |  | 106892776 |
| TOTAL HEALTH CARE |  | 189278991 |
| Industrials - 1.2% |  |  |
| Aerospace & Defense - 0.7% |  |  |
| Bharat Electronics Ltd  | 26759400 | 122167117 |
| Hindustan Aeronautics Ltd (e) | 2209352 | 101441791 |
|  |  | 223608908 |
| Construction & Engineering - 0.5% |  |  |
| Larsen & Toubro Ltd  | 3898016 | 165593671 |
| TOTAL INDUSTRIALS |  | 389202579 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.2% |  |  |
| JK Cement Ltd  | 1020821 | 57173548 |
| Metals & Mining - 0.2% |  |  |
| Tata Steel Ltd  | 34990600 | 78247598 |
| TOTAL MATERIALS |  | 135421146 |
| Real Estate - 0.1% |  |  |
| Office REITs - 0.0% |  |  |
| Embassy Office Parks REIT  | 1083800 | 4859482 |
| Real Estate Management & Development - 0.1% |  |  |
| Godrej Properties Ltd (b) | 1153978 | 22409495 |
| Sunteck Realty Ltd  | 2343600 | 8436964 |
|  |  | 30846459 |
| TOTAL REAL ESTATE |  | 35705941 |
| Utilities - 0.8% |  |  |
| Electric Utilities - 0.3% |  |  |
| Power Grid Corp of India Ltd  | 27721272 | 93355233 |
| Independent Power and Renewable Electricity Producers - 0.5% |  |  |
| NHPC Ltd  | 60634800 | 53370490 |
| NTPC Ltd  | 25105245 | 106010693 |
|  |  | 159381183 |
| TOTAL UTILITIES |  | 252736416 |
| TOTAL INDIA |  | 3108842931 |
| INDONESIA - 1.1%  |  |  |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 758427300 | 58041418 |
| Food Products - 0.4% |  |  |
| First Resources Ltd  | 40651946 | 111671059 |
| TOTAL CONSUMER STAPLES |  | 169712477 |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Bank Central Asia Tbk PT  | 287933286 | 97620973 |
| Bank Rakyat Indonesia Persero Tbk PT  | 338307356 | 58525350 |
| Bank Syariah Indonesia Persero Tbk PT  | 217909760 | 22379549 |
| TOTAL FINANCIALS |  | 178525872 |
| TOTAL INDONESIA |  | 348238349 |
| ITALY - 0.2%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Beverages - 0.2% |  |  |
| Coca-Cola HBC AG  | 960400 | 55933792 |
| KOREA (SOUTH) - 17.5%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.0% |  |  |
| KT Corp  | 387436 | 16064415 |
| Entertainment - 0.1% |  |  |
| HYBE Co Ltd  | 219838 | 39644166 |
| Interactive Media & Services - 0.4% |  |  |
| Kakao Corp  | 2650427 | 85873076 |
| NAVER Corp  | 195255 | 28226898 |
|  |  | 114099974 |
| TOTAL COMMUNICATION SERVICES |  | 169808555 |
| Consumer Discretionary - 0.5% |  |  |
| Automobiles - 0.3% |  |  |
| Kia Corp  | 986338 | 102385678 |
| Household Durables - 0.2% |  |  |
| Coway Co Ltd  | 1184290 | 69294526 |
| TOTAL CONSUMER DISCRETIONARY |  | 171680204 |
| Consumer Staples - 0.1% |  |  |
| Tobacco - 0.1% |  |  |
| KT&G Corp  | 364790 | 44262052 |
| Financials - 1.8% |  |  |
| Banks - 1.4% |  |  |
| KB Financial Group Inc  | 2413419 | 265978352 |
| Woori Financial Group Inc  | 6524842 | 149748593 |
|  |  | 415726945 |
| Insurance - 0.4% |  |  |
| Samsung Life Insurance Co Ltd  | 697284 | 119354854 |
| TOTAL FINANCIALS |  | 535081799 |
| Health Care - 0.2% |  |  |
| Life Sciences Tools & Services - 0.2% |  |  |
| Samsung Biologics Co Ltd (b)(d)(e) | 74053 | 74307708 |
| Industrials - 1.4% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Korea Aerospace Industries Ltd  | 1214800 | 140069207 |
| Electrical Equipment - 0.6% |  |  |
| LS Electric Co Ltd  | 841268 | 162599234 |
| Industrial Conglomerates - 0.2% |  |  |
| LG Corp  | 1022568 | 69454778 |
| Machinery - 0.2% |  |  |
| HD Hyundai Marine Solution Co Ltd  | 375820 | 68386777 |
| TOTAL INDUSTRIALS |  | 440509996 |
| Information Technology - 13.0% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Samsung Electro-Mechanics Co Ltd  | 95770 | 55294495 |
| Semiconductors & Semiconductor Equipment - 5.4% |  |  |
| Eugene Technology Co Ltd  | 148000 | 13385670 |
| SK Hynix Inc  | 1889483 | 1695797747 |
|  |  | 1709183417 |
| Technology Hardware, Storage & Peripherals - 7.4% |  |  |
| Samsung Electronics Co Ltd  | 15150107 | 2296064132 |
| TOTAL INFORMATION TECHNOLOGY |  | 4060542044 |
| TOTAL KOREA (SOUTH) |  | 5496192358 |
| KUWAIT - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Kuwait Finance House KSCP  | 53943882 | 138587534 |
| MEXICO - 2.2%  |  |  |
| Communication Services - 0.4% |  |  |
| Wireless Telecommunication Services - 0.4% |  |  |
| America Movil SAB de CV Series B  | 96296217 | 127946601 |
| Consumer Staples - 0.3% |  |  |
| Beverages - 0.2% |  |  |
| Arca Continental SAB de CV  | 4444900 | 53401904 |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Wal-Mart de Mexico SAB de CV Series V  | 15965200 | 50330799 |
| TOTAL CONSUMER STAPLES |  | 103732703 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Grupo Financiero Banorte SAB de CV  | 21900878 | 237808543 |
| Industrials - 0.2% |  |  |
| Transportation Infrastructure - 0.2% |  |  |
| Grupo Aeroportuario del Pacifico SAB de CV Series B  | 2416800 | 60627182 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Cemex SAB de CV ADR  | 10517197 | 129361523 |
| Real Estate - 0.1% |  |  |
| Diversified REITs - 0.1% |  |  |
| Fibra Uno Administracion SA de CV  | 12733400 | 21860759 |
| Real Estate Management & Development - 0.0% |  |  |
| Corp Inmobiliaria Vesta SAB de CV  | 4865384 | 17318578 |
| TOTAL REAL ESTATE |  | 39179337 |
| TOTAL MEXICO |  | 698655889 |
| NETHERLANDS - 0.0%  |  |  |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| CTP NV (d)(e) | 730577 | 13787663 |
| PANAMA - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Passenger Airlines - 0.2% |  |  |
| Copa Holdings SA Class A  | 632729 | 73194091 |
| PERU - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Credicorp Ltd  | 499187 | 161821450 |
| PHILIPPINES - 0.2%  |  |  |
| Industrials - 0.1% |  |  |
| Industrial Conglomerates - 0.1% |  |  |
| SM Investments Corp  | 2353000 | 23435544 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Ayala Land Inc  | 55543224 | 13698434 |
| SM Prime Holdings Inc  | 34525200 | 10708879 |
| TOTAL REAL ESTATE |  | 24407313 |
| TOTAL PHILIPPINES |  | 47842857 |
| POLAND - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Entertainment - 0.1% |  |  |
| CD Projekt SA  | 399654 | 30386405 |
| PUERTO RICO - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Liberty Latin America Ltd Class C (b) | 2003259 | 16647082 |
| ROMANIA - 0.0%  |  |  |
| Utilities - 0.0% |  |  |
| Independent Power and Renewable Electricity Producers - 0.0% |  |  |
| Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA  | 421700 | 15128080 |
| RUSSIA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Gazprom PJSC ADR (b)(f) | 10986900 | 110 |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| Sberbank of Russia PJSC (b)(f) | 12899053 | 2 |
| Sberbank of Russia PJSC ADR (b)(f) | 19633994 | 196 |
| TOTAL FINANCIALS |  | 198 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Severstal PAO GDR (b)(e)(f) | 6035400 | 60 |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| LSR Group PJSC (b)(f) | 98230 | 0 |
| TOTAL RUSSIA |  | 368 |
| SAUDI ARABIA - 2.2%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Specialty Retail - 0.0% |  |  |
| Aldrees Petroleum and Transport Services Co  | 785607 | 25136073 |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Saudi Arabian Oil Co (d)(e) | 20008000 | 148092809 |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| Al Rajhi Bank  | 12761440 | 233248023 |
| Saudi National Bank/The  | 19088043 | 199914233 |
| TOTAL FINANCIALS |  | 433162256 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| Dr Sulaiman Al Habib Medical Services Group Co  | 333143 | 21531492 |
| Industrials - 0.3% |  |  |
| Electrical Equipment - 0.3% |  |  |
| Electrical Industries Co  | 16348980 | 79162106 |
| TOTAL SAUDI ARABIA |  | 707084736 |
| SINGAPORE - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.2% |  |  |
| Sea Ltd Class A ADR (b) | 860958 | 73078115 |
| SOUTH AFRICA - 3.6%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| MTN Group Ltd  | 5881400 | 73793342 |
| Consumer Discretionary - 0.8% |  |  |
| Broadline Retail - 0.8% |  |  |
| Naspers Ltd Class N  | 4755684 | 257519929 |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| Pick n Pay Stores Ltd (b) | 27977387 | 33087470 |
| Shoprite Holdings Ltd  | 6205076 | 104585750 |
| TOTAL CONSUMER STAPLES |  | 137673220 |
| Financials - 1.3% |  |  |
| Banks - 0.6% |  |  |
| Capitec Bank Holdings Ltd  | 700155 | 181797352 |
| Financial Services - 0.7% |  |  |
| FirstRand Ltd  | 35610751 | 188619935 |
| TOTAL FINANCIALS |  | 370417287 |
| Industrials - 0.1% |  |  |
| Industrial Conglomerates - 0.1% |  |  |
| Bidvest Group Ltd  | 2896600 | 40570659 |
| Materials - 0.8% |  |  |
| Chemicals - 0.3% |  |  |
| Sasol Ltd (b) | 7344400 | 102083875 |
| Metals & Mining - 0.5% |  |  |
| Impala Platinum Holdings Ltd  | 11442702 | 160392922 |
| TOTAL MATERIALS |  | 262476797 |
| TOTAL SOUTH AFRICA |  | 1142451234 |
| TAIWAN - 24.8%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Uni-President Enterprises Corp  | 21804000 | 47910727 |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| CTBC Financial Holding Co Ltd  | 131728798 | 218575802 |
| Industrials - 0.6% |  |  |
| Electrical Equipment - 0.6% |  |  |
| Bizlink Holding Inc  | 1977417 | 178123500 |
| Information Technology - 23.3% |  |  |
| Communications Equipment - 0.2% |  |  |
| Accton Technology Corp  | 937000 | 68841056 |
| Electronic Equipment, Instruments & Components - 2.9% |  |  |
| Chroma ATE Inc  | 939636 | 64409950 |
| Delta Electronics Inc  | 7149705 | 502971777 |
| Elite Material Co Ltd  | 1188973 | 177726218 |
| Gold Circuit Electronics Ltd  | 673000 | 30560932 |
| Hon Hai Precision Industry Co Ltd  | 1620000 | 11481750 |
| Unimicron Technology Corp  | 3505011 | 99870822 |
| Universal Microwave Technology Inc  | 186000 | 9283720 |
| Yageo Corp  | 2108000 | 21560910 |
|  |  | 917866079 |
| Semiconductors & Semiconductor Equipment - 20.0% |  |  |
| ASE Technology Holding Co Ltd  | 14800025 | 232723492 |
| ASPEED Technology Inc  | 29000 | 15639215 |
| eMemory Technology Inc  | 133303 | 16935583 |
| Hon Precision Inc  | 238000 | 37470137 |
| Jentech Precision Industrial Co Ltd  | 288000 | 50299201 |
| MediaTek Inc  | 4651693 | 389566656 |
| MPI Corp  | 181437 | 29224912 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 79198292 | 5515588317 |
| Visual Photonics Epitaxy Co Ltd  | 523000 | 5845070 |
|  |  | 6293292583 |
| Technology Hardware, Storage & Peripherals - 0.2% |  |  |
| Asia Vital Components Co Ltd  | 827000 | 75955493 |
| TOTAL INFORMATION TECHNOLOGY |  | 7355955211 |
| TOTAL TAIWAN |  | 7800565240 |
| THAILAND - 0.3%  |  |  |
| Materials - 0.3% |  |  |
| Chemicals - 0.3% |  |  |
| PTT Global Chemical PCL  | 65629500 | 79909899 |
| TURKEY - 1.1%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| BIM Birlesik Magazalar AS  | 4611000 | 75668373 |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Akbank TAS  | 27345100 | 44299488 |
| Industrials - 0.6% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 20017000 | 186172199 |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| Oyak Cimento Fabrikalari AS  | 95350000 | 50012338 |
| TOTAL TURKEY |  | 356152398 |
| UNITED ARAB EMIRATES - 1.1%  |  |  |
| Energy - 0.1% |  |  |
| Energy Equipment & Services - 0.1% |  |  |
| ADNOC Drilling Co PJSC  | 35499220 | 54701909 |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 26403439 | 99198894 |
| Abu Dhabi Islamic Bank PJSC  | 19807197 | 118203632 |
| TOTAL FINANCIALS |  | 217402526 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| Aldar Properties PJSC  | 12993000 | 27272884 |
| Emaar Properties PJSC  | 18081035 | 58086143 |
| RAK Properties PJSC (b) | 17736300 | 5166710 |
| TOTAL REAL ESTATE |  | 90525737 |
| TOTAL UNITED ARAB EMIRATES |  | 362630172 |
| UNITED STATES - 0.8%  |  |  |
| Energy - 0.2% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| Tenaris SA ADR (c) | 1094800 | 69957720 |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.2% |  |  |
| BeOne Medicines Ltd ADR (b) | 139674 | 41241542 |
| BeOne Medicines Ltd H Shares (b) | 1440491 | 32697949 |
| TOTAL HEALTH CARE |  | 73939491 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Titan SA  | 2161272 | 116986926 |
| TOTAL UNITED STATES |  | 260884137 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $16,045,855,482) |  | <br> **30439579148** |

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---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.4%  |  |  |
| Communication Services - 0.4% |  |  |
| Interactive Media & Services - 0.4% |  |  |
| Bytedance Ltd Series E1 (b)(f)(h) | 399541 | 120461612 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (b)(f)(h) | 668281 | 4631187 |
| TOTAL CHINA |  | 125092799 |
| UNITED STATES - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| IT Services - 0.0% |  |  |
| Gupshup Inc (b)(f)(h) | 566129 | 3023129 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $66,215,724) |  | <br> **128115928** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.6%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Financial Services - 0.2% |  |  |
| Creditas Financial Solutions Ltd Series G2 (f)(h) | 245239 | 51392285 |
| KOREA (SOUTH) - 0.4%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Automobiles - 0.4% |  |  |
| Hyundai Motor Co Series 2  | 812035 | 137773923 |
| <br> **TOTAL NON-CONVERTIBLE PREFERRED STOCKS**<br> (Cost $98,673,481) |  | <br> **189166208** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** | &nbsp;&nbsp;**U.S. Treasury Obligations - 0.1%** |
|  | Yield (%) (i) | Principal<br> Amount (a)<br>| Value ($)<br>|
| US Treasury Bills 0% 5/14/2026  | 3.62 to 3.64 | 2000000 | 1997413 |
| US Treasury Bills 0% 5/7/2026  | 3.62 | 180000 | 179892 |
| US Treasury Bills 0% 6/11/2026  | 3.64 | 590000 | 587581 |
| US Treasury Bills 0% 6/18/2026  | 3.64 to 3.66 | 840000 | 835959 |
| US Treasury Bills 0% 6/25/2026 (j) | 3.61 to 3.63 | 43030000 | 42791461 |
| <br> **TOTAL U.S. TREASURY OBLIGATIONS**<br> (Cost $46,395,078) |  |  | **46392306** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.6%** | &nbsp;&nbsp;**Money Market Funds - 1.6%** | &nbsp;&nbsp;**Money Market Funds - 1.6%** | &nbsp;&nbsp;**Money Market Funds - 1.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (k) | 3.69 | 231411071 | 231457353 |
| Fidelity Securities Lending Cash Central Fund (k)(l) | 3.69 | 274740728 | 274768202 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $506,222,689) |  |  | **506225555** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.1%**<br> (Cost $16,763,362,454)<br>| <br>**31309479145** |
| **NET OTHER ASSETS (LIABILITIES) - 0.9%**  | **287805841** |
| **NET ASSETS - 100.0%** | **31597284986** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Equity Contracts |  |  |  |  |
| ICE MSCI Emerging Markets Index Contracts (United States) | 8960 | 6/2026 | 732121600 | 9357686 |
| The notional amount of long futures as a percentage of Net Assets is 2.3%. | The notional amount of long futures as a percentage of Net Assets is 2.3%. | The notional amount of long futures as a percentage of Net Assets is 2.3%. | The notional amount of long futures as a percentage of Net Assets is 2.3%. | The notional amount of long futures as a percentage of Net Assets is 2.3%. |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing.

(c) Security or a portion of the security is on loan at period end.

(d) 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 $701,147,997 or 2.2% of net assets.

(e) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $802,589,848 or 2.5% of net assets.

(f) Level 3 security.

(g) Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. At the end of the period, the total value of unadjusted equity securities subject to contractual sale restrictions is $97,459,556 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(h) 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 $179,508,213 or 0.6% of net assets.

(i) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(j) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $4,600,356.

(k) 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.

(l) Investment made with cash collateral received from securities on loan.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Bytedance Ltd Series E1 | 11/18/2020 | 43779377 |
| Creditas Financial Solutions Ltd Series G2 | 1/28/2022 - 7/28/2023 | 33309389 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 9491694 |
| Gupshup Inc | 6/8/2021 | 12944653 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Meesho | 6/9/2026 |
| Pine Labs Ltd | 5/13/2026 |

---

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 399856291 | 5432228001 | 5600639307 | 6902669 | 12369 | (1) | 231457353 | 231411071 | 0.4% |
| Fidelity Securities Lending Cash Central Fund | 296882546 | 2711529815 | 2733629443 | 3007311 | (14716) | - | 274768202 | 274740728 | 0.8% |
| Total | 696738837 | 8143757816 | 8334268750 | 9909980 | (2347) | (1) | 506225555 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Consolidated Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Consolidated Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 2093469298 | 411118802 | 1682350496 | - |
| Consumer Discretionary | 2877303332 | 604971205 | 2272332127 | - |
| Consumer Staples | 940958389 | 373008088 | 567950301 | - |
| Energy | 1099606525 | 580626470 | 518979945 | 110 |
| Financials | 5786357162 | 2273226976 | 3513129988 | 198 |
| Health Care | 805656959 | 85437792 | 720219167 | - |
| Industrials | 2230198348 | 534104643 | 1696093705 | - |
| Information Technology | 11647451466 | 22451802 | 11624999664 | - |
| Materials | 1990508019 | 949808906 | 1040699053 | 60 |
| Real Estate | 308661457 | 156667111 | 151994346 | - |
| Utilities | 659408193 | 311858823 | 347549370 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 120461612 | - | - | 120461612 |
| Health Care | 4631187 | - | - | 4631187 |
| Information Technology | 3023129 | - | - | 3023129 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Consumer Discretionary | 137773923 | - | 137773923 | - |
| Financials | 51392285 | - | - | 51392285 |
|  **U.S. Treasury Obligations** | 46392306 | - | 46392306 | - |
|  **Money Market Funds** | 506225555 | 506225555 | - | - |
| **Total Investments in Securities:** | 31309479145 | 6809506173 | 24320464391 | 179508581 |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 9357686 | 9357686 | - | - |
| Total Assets | 9357686 | 9357686 | - | - |
| **Total Derivative Instruments:** | 9357686 | 9357686 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Consolidated Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 9357686 | - |
| **Total Equity Risk**  | 9357686 | - |
| **Total Value of Derivatives** | 9357686 | - |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Consolidated Schedule of Investments. In the Consolidated Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity® Series Emerging Markets Opportunities Fund**

**Consolidated Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Consolidated Statement of Assets and Liabilities** | **Consolidated Statement of Assets and Liabilities** | **Consolidated Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $323,749,951) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $16,257,139,765) | $30803253590 |  |
| Fidelity Central Funds (cost $506,222,689) | 506225555 |  |
| Total Investment in Securities (cost $16,763,362,454) |  | $31309479145 |
| Cash |  | 365269 |
| Foreign currency held at value (cost $34,701,017) |  | 34699909 |
| Receivable for investments sold |  | 124548194 |
| Receivable for fund shares sold |  | 813680668 |
| Dividends receivable |  | 23160805 |
| Distributions receivable from Fidelity Central Funds |  | 2227518 |
| Receivable for variation margin on futures contracts |  | 1763450 |
| Receivable from investment adviser for expense reductions |  | 729 |
| Other receivables |  | 3655767 |
| **Total assets** |  | 32313581454 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $275039955 |  |
| Payable for fund shares redeemed | 1410460 |  |
| Deferred taxes | 163266554 |  |
| Other payables and accrued expenses | 1808552 |  |
| Collateral on securities loaned | 274770947 |  |
| **Total liabilities** |  | 716296468 |
| **Net Assets**  |  | $31597284986 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $17025263647 |
| Total accumulated earnings (loss) |  | 14572021339 |
| **Net Assets** |  | $31597284986 |
| **Net Asset Value**, offering price and redemption price per share ($31,597,284,986 ÷ 1,070,888,022 shares) |  | $29.51 |

---

---

| | | |
|:---|:---|:---|
| **Consolidated Statement of Operations** | **Consolidated Statement of Operations** | **Consolidated Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $248934188 |
| Income from Fidelity Central Funds (including $3,007,311 from security lending)  |  | 9909980 |
| Security lending |  | 191297 |
| Income before foreign taxes withheld |  | $259035465 |
| Less foreign taxes withheld |  | (29513512) |
| **Total income** |  | 229521953 |
| **Expenses** |  |  |
| Custodian fees and expenses | $2509578 |  |
| Independent trustees' fees and expenses | 41352 |  |
| Interest | 139667 |  |
| Total expenses before reductions | 2690597 |  |
| Expense reductions | (742995) |  |
| Total expenses after reductions |  | 1947602 |
| **Net Investment income (loss)** |  | 227574351 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $16,549,593)  | 1645751401 |  |
| Fidelity Central Funds | (2347) |  |
| Foreign currency transactions | (9352610) |  |
| Futures contracts | 12850853 |  |
| Total net realized gain (loss) |  | 1649247297 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $67,490,560)  | 3555975060 |  |
| Fidelity Central Funds  | (1) |  |
| Assets and liabilities in foreign currencies | 300842 |  |
| Futures contracts | 6636751 |  |
| Total change in net unrealized appreciation (depreciation) |  | 3562912652 |
| **Net gain (loss)** |  | 5212159949 |
| **Net increase (decrease) in net assets resulting from operations** |  | $5439734300 |

---

---

| | | |
|:---|:---|:---|
| **Consolidated Statement of Changes in Net Assets** | **Consolidated Statement of Changes in Net Assets** | **Consolidated Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $227574351 | $540622954 |
| &nbsp;&nbsp;Net realized gain (loss) | 1649247297<br>| 904800297<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 3562912652 | 4980851119<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 5439734300<br>| 6426274370<br>|
| Distributions to shareholders | (635086825)<br>| (440747266)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 3091259364 | 2869220136 |
| Reinvestment of distributions | 635086825<br>| 440747266<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (3601570141) | (6436203328) |
| **Net increase (decrease) in net assets resulting from share transactions** | 124776048<br>| (3126235926)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 4929423523<br>| 2859291178<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 26667861463 | 23808570285<br>|
| &nbsp;&nbsp;End of period | $31597284986 | $26667861463 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 115157659 | 143029372 |
| Issued in reinvestment of distributions | 26617218<br>| 23295310<br>|
| &nbsp;&nbsp;Redeemed | (142212174) | (323790729) |
| &nbsp;&nbsp;Net increase (decrease) | (437297) | (157466047) |

---

**Consolidated Financial Highlights** 

**Fidelity® Series Emerging Markets Opportunities Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $24.89 | $19.38 | $15.84 | $14.17 | $24.69 | $21.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .48  | .42  | .46  | .48  | .47  |
| Net realized and unrealized gain (loss)  | 5.00  | 5.41  | 3.61  | 1.58  | (8.30)  | 3.48  |
| Total from investment operations  | 5.22  | 5.89  | 4.03  | 2.04  | (7.82)  | 3.95  |
| Distributions from net investment income  | (.60)  | (.38)  | (.49)  | (.37)  | (.68)  | (.33)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.01)  | (.41)  |
| Total distributions  | (.60)  | (.38)  | (.49)  | (.37)  | (2.70) C | (.75) C |
| Net asset value, end of period  | $29.51 | $24.89 | $19.38 | $15.84 | $14.17 | $24.69 |
| **Total Return** D,E | 21.56% <br>| 31.02%  | 25.97%  | 14.40%  | (35.33)%  | 18.44%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .02% H | .02%  | .03%  | .03%  | .03%  | .03%  |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | .01% H | .01%  | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 1.67% H | 2.33%  | 2.32%  | 2.82%  | 2.64%  | 1.82%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $31597285 | $26667861 | $23808570 | $20165712 | $22330277 | $29188538 |
| Portfolio turnover rate I | 56% H<br>| 45%  | 49%  | 41%  | 37%  | 69%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Consolidated Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series International Growth Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.2%** | &nbsp;&nbsp;**Common Stocks - 98.2%** | &nbsp;&nbsp;**Common Stocks - 98.2%** |
|  | Shares | Value ($)<br>|
| AUSTRIA - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Erste Group Bank AG  | 1979700 | 218749141 |
| BELGIUM - 1.6%  |  |  |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| KBC Group NV  | 2136356 | 283955601 |
| CANADA - 2.2%  |  |  |
| Industrials - 0.5% |  |  |
| Ground Transportation - 0.5% |  |  |
| Canadian Pacific Kansas City Ltd  | 999440 | 86924461 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| Franco-Nevada Corp  | 1324148 | 305489381 |
| TOTAL CANADA |  | 392413842 |
| CHINA - 0.6%  |  |  |
| Communication Services - 0.6% |  |  |
| Interactive Media & Services - 0.6% |  |  |
| Tencent Holdings Ltd  | 1878900 | 114109854 |
| FINLAND - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Machinery - 1.1% |  |  |
| Kone Oyj B Shares  | 3116989 | 198277375 |
| FRANCE - 12.3%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Textiles, Apparel & Luxury Goods - 1.6% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 523723 | 277460910 |
| Health Care - 1.0% |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| EssilorLuxottica SA  | 796224 | 168536408 |
| Industrials - 8.9% |  |  |
| Aerospace & Defense - 6.4% |  |  |
| Airbus SE  | 2596948 | 535385450 |
| Safran SA  | 1835886 | 589526529 |
|  |  | 1124911979 |
| Electrical Equipment - 2.5% |  |  |
| Legrand SA  | 2426044 | 434658845 |
| TOTAL INDUSTRIALS |  | 1559570824 |
| Materials - 0.8% |  |  |
| Chemicals - 0.8% |  |  |
| Air Liquide SA  | 738975 | 158983385 |
| TOTAL FRANCE |  | 2164551527 |
| GERMANY - 2.4%  |  |  |
| Industrials - 1.4% |  |  |
| Aerospace & Defense - 1.4% |  |  |
| Rheinmetall AG  | 155400 | 247277868 |
| Materials - 1.0% |  |  |
| Construction Materials - 1.0% |  |  |
| Heidelberg Materials AG  | 802300 | 177022096 |
| TOTAL GERMANY |  | 424299964 |
| ITALY - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Interpump Group SpA  | 1580620 | 66375287 |
| JAPAN - 13.6%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| USS Co Ltd  | 8700011 | 93963766 |
| Health Care - 1.5% |  |  |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Hoya Corp  | 1408900 | 263103342 |
| Industrials - 4.0% |  |  |
| Construction & Engineering - 0.3% |  |  |
| SHO-BOND Holdings Co Ltd  | 7143900 | 60428167 |
| Machinery - 3.7% |  |  |
| Komatsu Ltd  | 2879500 | 123294429 |
| Mitsubishi Heavy Industries Ltd  | 17456734 | 521011906 |
|  |  | 644306335 |
| TOTAL INDUSTRIALS |  | 704734502 |
| Information Technology - 7.6% |  |  |
| Electronic Equipment, Instruments & Components - 2.5% |  |  |
| Azbil Corp  | 16962620 | 150963197 |
| Keyence Corp  | 613143 | 281227801 |
|  |  | 432190998 |
| Semiconductors & Semiconductor Equipment - 5.1% |  |  |
| Advantest Corp  | 2034600 | 379897603 |
| Disco Corp  | 798900 | 380102636 |
| Lasertec Corp  | 520100 | 143744417 |
|  |  | 903744656 |
| TOTAL INFORMATION TECHNOLOGY |  | 1335935654 |
| TOTAL JAPAN |  | 2397737264 |
| NETHERLANDS - 9.6%  |  |  |
| Consumer Staples - 0.3% |  |  |
| Food Products - 0.3% |  |  |
| Magnum Ice Cream Co NV/The  | 3241700 | 47329488 |
| Industrials - 0.1% |  |  |
| Machinery - 0.1% |  |  |
| Aalberts NV  | 699411 | 26497481 |
| Aalberts NV rights (a)(b) | 701311 | 946557 |
| TOTAL INDUSTRIALS |  | 27444038 |
| Information Technology - 9.2% |  |  |
| Semiconductors & Semiconductor Equipment - 9.2% |  |  |
| ASML Holding NV  | 1008059 | 1457195940 |
| BE Semiconductor Industries NV  | 574851 | 166779383 |
| TOTAL INFORMATION TECHNOLOGY |  | 1623975323 |
| TOTAL NETHERLANDS |  | 1698748849 |
| SWEDEN - 9.0%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Automobile Components - 0.5% |  |  |
| Autoliv Inc  | 700234 | 81178128 |
| Industrials - 7.9% |  |  |
| Building Products - 2.2% |  |  |
| Assa Abloy AB B Shares  | 10105937 | 384633642 |
| Machinery - 4.9% |  |  |
| Atlas Copco AB A Shares  | 23732244 | 447770914 |
| Epiroc AB A Shares  | 14387217 | 415350463 |
|  |  | 863121377 |
| Trading Companies & Distributors - 0.8% |  |  |
| AddTech AB B Shares  | 4039832 | 145880695 |
| TOTAL INDUSTRIALS |  | 1393635714 |
| Information Technology - 0.6% |  |  |
| Electronic Equipment, Instruments & Components - 0.6% |  |  |
| Lagercrantz Group AB B Shares  | 4219871 | 110241573 |
| TOTAL SWEDEN |  | 1585055415 |
| SWITZERLAND - 6.3%  |  |  |
| Financials - 2.5% |  |  |
| Capital Markets - 2.5% |  |  |
| UBS Group AG  | 10026395 | 442708936 |
| Industrials - 3.8% |  |  |
| Electrical Equipment - 2.6% |  |  |
| ABB Ltd  | 4556010 | 460793685 |
| Machinery - 1.2% |  |  |
| Schindler Holding AG  | 136832 | 45882106 |
| Schindler Holding AG participation certificate  | 459148 | 160659197 |
|  |  | 206541303 |
| TOTAL INDUSTRIALS |  | 667334988 |
| TOTAL SWITZERLAND |  | 1110043924 |
| TAIWAN - 5.2%  |  |  |
| Information Technology - 5.2% |  |  |
| Semiconductors & Semiconductor Equipment - 5.2% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 13052885 | 909039048 |
| UNITED KINGDOM - 11.8%  |  |  |
| Consumer Discretionary - 2.6% |  |  |
| Hotels, Restaurants & Leisure - 2.0% |  |  |
| Compass Group PLC  | 12357500 | 349099375 |
| Leisure Products - 0.6% |  |  |
| Games Workshop Group PLC  | 436400 | 115737720 |
| TOTAL CONSUMER DISCRETIONARY |  | 464837095 |
| Health Care - 2.4% |  |  |
| Pharmaceuticals - 2.4% |  |  |
| Astrazeneca PLC  | 2248458 | 426751504 |
| Industrials - 6.8% |  |  |
| Aerospace & Defense - 6.4% |  |  |
| BAE Systems PLC  | 20401395 | 567435436 |
| Rolls-Royce Holdings PLC  | 33731017 | 542784688 |
|  |  | 1110220124 |
| Trading Companies & Distributors - 0.4% |  |  |
| Howden Joinery Group PLC  | 7425800 | 78513187 |
| TOTAL INDUSTRIALS |  | 1188733311 |
| TOTAL UNITED KINGDOM |  | 2080321910 |
| UNITED STATES - 20.9%  |  |  |
| Consumer Discretionary - 1.8% |  |  |
| Hotels, Restaurants & Leisure - 1.8% |  |  |
| InterContinental Hotels Group PLC ADR  | 2183575 | 314172771 |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| PriceSmart Inc  | 547927 | 85980705 |
| Financials - 0.5% |  |  |
| Financial Services - 0.5% |  |  |
| Mastercard Inc Class A  | 87431 | 43970798 |
| Visa Inc Class A  | 137370 | 45310121 |
| TOTAL FINANCIALS |  | 89280919 |
| Health Care - 2.4% |  |  |
| Pharmaceuticals - 2.4% |  |  |
| Novartis AG  | 2805388 | 414607365 |
| Industrials - 6.9% |  |  |
| Electrical Equipment - 6.9% |  |  |
| GE Vernova Inc  | 529200 | 573367032 |
| Schneider Electric SE  | 2030300 | 646059372 |
| TOTAL INDUSTRIALS |  | 1219426404 |
| Materials - 8.8% |  |  |
| Chemicals - 3.6% |  |  |
| Linde PLC  | 916101 | 459094856 |
| Sherwin-Williams Co/The  | 555081 | 178519600 |
|  |  | 637614456 |
| Construction Materials - 5.2% |  |  |
| CRH PLC  | 5294840 | 627014953 |
| Holcim AG  | 2914650 | 270848015 |
|  |  | 897862968 |
| TOTAL MATERIALS |  | 1535477424 |
| TOTAL UNITED STATES |  | 3658945588 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $10,638,550,195) |  | <br> **17302624589** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.3%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.3%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.3%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.3%  |  |  |
| Communication Services - 0.3% |  |  |
| Interactive Media & Services - 0.3% |  |  |
| Bytedance Ltd Series E1 (b)(c)(d)<br>(Cost $18,859,141)<br>| 172113 | **51892069** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e)<br>(Cost $553,574,596)<br>| 3.69 | 553463904 | **553574596** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.6%**<br> (Cost $11,210,983,932)<br>| <br>**17908091254** |
| **NET OTHER ASSETS (LIABILITIES) - (1.6)%**  | **(290133280)** |
| **NET ASSETS - 100.0%** | **17617957974** |

---

**Legend**

(a) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(b) Non-income producing.

(c) 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 $51,892,069 or 0.3% of net assets.

(d) Level 3 security.

(e) 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.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Bytedance Ltd Series E1 | 11/18/2020 | 18859141 |

---

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 309869261 | 2852971441 | 2609249290 | 9493046 | (16816) | - | 553574596 | 553463904 | 0.9% |
| Fidelity Securities Lending Cash Central Fund | - | 36768472 | 36770267 | 22665 | 1795 | - | - | - | 0.0% |
| Total | 309869261 | 2889739913 | 2646019557 | 9515711 | (15021) | - | 553574596 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 114109854 | - | 114109854 | - |
| Consumer Discretionary | 1231612670 | 1137648904 | 93963766 | - |
| Consumer Staples | 133310193 | 133310193 | - | - |
| Financials | 1034694597 | 815945456 | 218749141 | - |
| Health Care | 1272998619 | 426751504 | 846247115 | - |
| Industrials | 7359734772 | 2463005802 | 4896728970 | - |
| Information Technology | 3979191598 | 277020956 | 3702170642 | - |
| Materials | 2176972286 | 1570118790 | 606853496 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 51892069 | - | - | 51892069 |
|  **Money Market Funds** | 553574596 | 553574596 | - | - |
| **Total Investments in Securities:** | 17908091254 | 7377376201 | 10478822984 | 51892069 |

---

**Fidelity® Series International Growth Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $10,657,409,336) | $17354516658 |  |
| Fidelity Central Funds (cost $553,574,596) | 553574596 |  |
| Total Investment in Securities (cost $11,210,983,932) |  | $17908091254 |
| Foreign currency held at value (cost $9,403,609) |  | 9403290 |
| Receivable for investments sold |  | 85804846 |
| Receivable for fund shares sold |  | 6340366 |
| Dividends receivable |  | 37916834 |
| Reclaims receivable |  | 57535182 |
| Interest receivable |  | 311 |
| Distributions receivable from Fidelity Central Funds |  | 1864882 |
| Other receivables |  | 130431 |
| **Total assets** |  | 18107087396 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $57304229 |  |
| Delayed delivery | 946558 |  |
| Payable for fund shares redeemed | 430647955 |  |
| Other payables and accrued expenses | 230680 |  |
| **Total liabilities** |  | 489129422 |
| **Net Assets**  |  | $17617957974 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $9863502247 |
| Total accumulated earnings (loss) |  | 7754455727 |
| **Net Assets** |  | $17617957974 |
| **Net Asset Value**, offering price and redemption price per share ($17,617,957,974 ÷ 868,334,189 shares) |  | $20.29 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $132913750 |
| Foreign Tax Reclaims |  | 8328414 |
| Income from Fidelity Central Funds (including $22,665 from security lending)  |  | 9515711 |
| Security lending |  | 381 |
| Income before foreign taxes withheld |  | $150758256 |
| Less foreign taxes withheld |  | (17047158) |
| **Total income** |  | 133711098 |
| **Expenses** |  |  |
| Custodian fees and expenses | $370498 |  |
| Independent trustees' fees and expenses | 25631 |  |
| Total expenses before reductions | 396129 |  |
| Expense reductions | (130) |  |
| Total expenses after reductions |  | 395999 |
| **Net Investment income (loss)** |  | 133315099 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $3,601,362)  | 890227676 |  |
| Redemptions in-kind | 113281947 |  |
| Fidelity Central Funds | (15021) |  |
| Foreign currency transactions | (489484) |  |
| Total net realized gain (loss) |  | 1003005118 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $6,403,596)  | (150448147) |  |
| Assets and liabilities in foreign currencies | 2122539 |  |
| Total change in net unrealized appreciation (depreciation) |  | (148325608) |
| **Net gain (loss)** |  | 854679510 |
| **Net increase (decrease) in net assets resulting from operations** |  | $987994609 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $133315099 | $229315680 |
| &nbsp;&nbsp;Net realized gain (loss) | 1003005118<br>| 1422567833<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (148325608) | 904826917<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 987994609<br>| 2556710430<br>|
| Distributions to shareholders | (1283365917)<br>| (578924668)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 2421100912 | 2138905253 |
| Reinvestment of distributions | 1283365917<br>| 578924668<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (1876678240) | (3584020289) |
| **Net increase (decrease) in net assets resulting from share transactions** | 1827788589<br>| (866190368)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1532417281<br>| 1111595394<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 16085540693 | 14973945299<br>|
| &nbsp;&nbsp;End of period | $17617957974 | $16085540693 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 119796171 | 114148794 |
| Issued in reinvestment of distributions | 67652394<br>| 31931863<br>|
| &nbsp;&nbsp;Redeemed | (88620088) | (188609753) |
| &nbsp;&nbsp;Net increase (decrease) | 98828477 | (42529096) |

---

**Financial Highlights** 

**Fidelity® Series International Growth Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $20.90 | $18.44 | $14.80 | $13.75 | $20.51 | $18.01 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .29  | .26  | .22  | .21  | .20  |
| Net realized and unrealized gain (loss)  | .89  | 2.92  | 3.60  | 1.33  | (5.38)  | 5.19  |
| Total from investment operations  | 1.05  | 3.21  | 3.86  | 1.55  | (5.17)  | 5.39  |
| Distributions from net investment income  | (.33)  | (.28)  | (.22)  | (.20)  | (.28)  | (.24)  |
| Distributions from net realized gain  | (1.33)  | (.47)  | -  | (.30)  | (1.31)  | (2.65)  |
| Total distributions  | (1.66)  | (.75)  | (.22)  | (.50)  | (1.59)  | (2.89)  |
| Net asset value, end of period  | $20.29 | $20.90 | $18.44 | $14.80 | $13.75 | $20.51 |
| **Total Return** C,D | 5.56% <br>| 18.02%  | 26.26%  | 11.31%  | (27.31)%  | 33.10%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | -% G,H | -% G | .01%  | .01%  | .01%  | .01%  |
| Expenses net of fee waivers, if any  | -% G,H<br>| -% G | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | -% G,H | -% G | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 1.60% H | 1.52%  | 1.44%  | 1.42%  | 1.32%  | 1.06%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $17617958 | $16085541 | $14973945 | $12848087 | $12392171 | $15467124 |
| Portfolio turnover rate I | 63% H,J<br>| 36% J | 26% J | 19% J | 22% J | 24%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Amount represents less than .005%.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

J*Portfolio turnover rate excludes securities received or delivered in-kind.*

**Fidelity® Series International Small Cap Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.2%** | &nbsp;&nbsp;**Common Stocks - 97.2%** | &nbsp;&nbsp;**Common Stocks - 97.2%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.1%  |  |  |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| Whitehaven Coal Ltd  | 1775000 | 10846371 |
| Financials - 1.3% |  |  |
| Financial Services - 0.2% |  |  |
| Cuscal Ltd  | 2175000 | 7386998 |
| Insurance - 1.1% |  |  |
| AUB Group Ltd  | 225600 | 4201545 |
| Steadfast Group Ltd  | 9393607 | 28893168 |
|  |  | 33094713 |
| TOTAL FINANCIALS |  | 40481711 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Imdex Ltd  | 15274505 | 44931152 |
| Real Estate - 0.1% |  |  |
| Retail REITs - 0.1% |  |  |
| Charter Hall Retail REIT  | 1097873 | 3115099 |
| TOTAL AUSTRALIA |  | 99374333 |
| BELGIUM - 3.0%  |  |  |
| Financials - 2.4% |  |  |
| Banks - 2.4% |  |  |
| KBC Ancora  | 838533 | 76468009 |
| Health Care - 0.1% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Fagron  | 150000 | 4225140 |
| Information Technology - 0.3% |  |  |
| Semiconductors & Semiconductor Equipment - 0.3% |  |  |
| Melexis NV (b) | 100000 | 8373993 |
| Real Estate - 0.2% |  |  |
| Industrial REITs - 0.2% |  |  |
| Warehouses De Pauw CVA  | 280000 | 7361133 |
| Warehouses De Pauw CVA rights (a)(e) | 280000 | 404205 |
| TOTAL REAL ESTATE |  | 7765338 |
| TOTAL BELGIUM |  | 96832480 |
| BRAZIL - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| Orizon Valorizacao de Residuos SA (a) | 475000 | 7817864 |
| BURKINA FASO - 0.1%  |  |  |
| Materials - 0.1% |  |  |
| Metals & Mining - 0.1% |  |  |
| IAMGOLD Corp (a) | 150000 | 2524385 |
| CANADA - 3.7%  |  |  |
| Energy - 0.2% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| TerraVest Industries Inc  | 72000 | 7344440 |
| Financials - 0.2% |  |  |
| Capital Markets - 0.2% |  |  |
| Onex Corp Subordinate Voting Shares  | 60000 | 5055398 |
| Industrials - 1.4% |  |  |
| Trading Companies & Distributors - 1.4% |  |  |
| Richelieu Hardware Ltd (b) | 1526720 | 44643368 |
| Information Technology - 0.2% |  |  |
| Software - 0.2% |  |  |
| Lumine Group Inc Subordinate Voting Shares (a)(c) | 360000 | 5358854 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| OR Royalties Inc  | 1309800 | 48241833 |
| Orla Mining Ltd  | 170000 | 2227703 |
| Triple Flag Precious Metals Corp  | 100000 | 3192108 |
| TOTAL MATERIALS |  | 53661644 |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| Real Matters Inc (a) | 700000 | 2963154 |
| TOTAL CANADA |  | 119026858 |
| CHINA - 0.4%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Personal Care Products - 0.2% |  |  |
| Chlitina Holding Ltd  | 2306670 | 7796326 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Consun Pharmaceutical Group Ltd  | 3200000 | 6630888 |
| TOTAL CHINA |  | 14427214 |
| EGYPT - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Integrated Diagnostics Holdings PLC (c)(f) | 14026647 | 7854922 |
| FRANCE - 3.8%  |  |  |
| Consumer Staples - 0.3% |  |  |
| Beverages - 0.3% |  |  |
| Laurent-Perrier  | 97649 | 9649804 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Vetoquinol SA  | 261180 | 23603111 |
| Industrials - 2.5% |  |  |
| Aerospace & Defense - 1.5% |  |  |
| Exail Technologies SA (a)(b) | 90000 | 13055683 |
| LISI SA  | 479688 | 35017718 |
|  |  | 48073401 |
| Commercial Services & Supplies - 0.4% |  |  |
| Elis SA  | 420000 | 12944421 |
| Ground Transportation - 0.3% |  |  |
| Stef SA  | 75000 | 10228360 |
| Trading Companies & Distributors - 0.3% |  |  |
| Thermador Groupe  | 107519 | 8732325 |
| TOTAL INDUSTRIALS |  | 79978507 |
| Real Estate - 0.3% |  |  |
| Industrial REITs - 0.1% |  |  |
| ARGAN SA  | 45000 | 3237513 |
| Retail REITs - 0.2% |  |  |
| Carmila SA  | 280000 | 5580002 |
| TOTAL REAL ESTATE |  | 8817515 |
| TOTAL FRANCE |  | 122048937 |
| GERMANY - 1.8%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Specialty Retail - 0.8% |  |  |
| Auto1 Group SE (a)(b) | 660000 | 14043662 |
| Fielmann Group AG  | 235000 | 11721829 |
| TOTAL CONSUMER DISCRETIONARY |  | 25765491 |
| Industrials - 0.9% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Montana Aerospace Ag (a)(b)(c)(f) | 120000 | 3148397 |
| Rheinmetall AG  | 9800 | 15594100 |
|  |  | 18742497 |
| Machinery - 0.3% |  |  |
| Norma Group SE (b) | 42782 | 738103 |
| Stabilus SE  | 423400 | 8557021 |
|  |  | 9295124 |
| TOTAL INDUSTRIALS |  | 28037621 |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Mensch und Maschine Software SE  | 67961 | 3190497 |
| TOTAL GERMANY |  | 56993609 |
| GREECE - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Transportation Infrastructure - 0.3% |  |  |
| Athens International Airport SA  | 947400 | 10796704 |
| INDONESIA - 0.3%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Selamat Sempurna Tbk PT  | 59800000 | 6268118 |
| Consumer Staples - 0.1% |  |  |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 56000000 | 4285604 |
| TOTAL INDONESIA |  | 10553722 |
| IRELAND - 1.8%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Household Durables - 0.3% |  |  |
| Cairn Homes PLC  | 3541234 | 9068858 |
| Industrials - 1.1% |  |  |
| Building Products - 0.2% |  |  |
| Kingspan Group PLC  | 70000 | 6461530 |
| Machinery - 0.2% |  |  |
| Mincon Group Plc  | 8669300 | 7325801 |
| Trading Companies & Distributors - 0.7% |  |  |
| AerCap Holdings NV  | 160000 | 22753601 |
| TOTAL INDUSTRIALS |  | 36540932 |
| Real Estate - 0.4% |  |  |
| Residential REITs - 0.4% |  |  |
| Irish Residential Properties Reit PLC  | 10949300 | 13775892 |
| TOTAL IRELAND |  | 59385682 |
| ISRAEL - 2.2%  |  |  |
| Financials - 1.1% |  |  |
| Capital Markets - 1.1% |  |  |
| Tel Aviv Stock Exchange Ltd  | 714457 | 36040965 |
| Information Technology - 1.1% |  |  |
| Communications Equipment - 1.1% |  |  |
| Ituran Location and Control Ltd  | 623735 | 35927136 |
| TOTAL ISRAEL |  | 71968101 |
| ITALY - 3.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Pirelli & C SpA (c)(f) | 850000 | 5835975 |
| Financials - 0.4% |  |  |
| Financial Services - 0.4% |  |  |
| BFF Bank SpA (a)(c)(f) | 1689000 | 4111280 |
| Generalfinance SpA  | 217800 | 7898688 |
| TOTAL FINANCIALS |  | 12009968 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 80000 | 4660798 |
| Industrials - 2.5% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| doValue SpA (a)(b)(c)(f) | 2313933 | 5703069 |
| Machinery - 2.3% |  |  |
| Interpump Group SpA  | 1782237 | 74841830 |
| TOTAL INDUSTRIALS |  | 80544899 |
| TOTAL ITALY |  | 103051640 |
| JAPAN - 28.6%  |  |  |
| Consumer Discretionary - 6.5% |  |  |
| Automobile Components - 0.5% |  |  |
| Niterra Co Ltd  | 160000 | 8648884 |
| Toyo Tire Corp  | 320000 | 7845800 |
|  |  | 16494684 |
| Distributors - 0.3% |  |  |
| Central Automotive Products Ltd  | 750237 | 8650813 |
| Diversified Consumer Services - 0.5% |  |  |
| Aucnet Inc  | 2231240 | 17178829 |
| Hotels, Restaurants & Leisure - 3.2% |  |  |
| Curves Holdings Co Ltd (d) | 5149659 | 26933397 |
| Gift Holdings Inc (b) | 721900 | 20365373 |
| Koshidaka Holdings Co Ltd (b)(d) | 4693759 | 30057998 |
| Metaplanet Inc (a)(b) | 725000 | 1558833 |
| Monogatari Corp/The  | 925488 | 24895618 |
|  |  | 103811219 |
| Leisure Products - 0.4% |  |  |
| Yonex Co Ltd  | 800000 | 13546001 |
| Specialty Retail - 1.6% |  |  |
| Intermestic Inc  | 300000 | 4069740 |
| USS Co Ltd  | 4261500 | 46025987 |
|  |  | 50095727 |
| TOTAL CONSUMER DISCRETIONARY |  | 209777273 |
| Consumer Staples - 1.7% |  |  |
| Consumer Staples Distribution & Retail - 1.4% |  |  |
| Belc Co Ltd  | 130000 | 5794396 |
| Kato Sangyo Co Ltd  | 110000 | 4300497 |
| Qol Holdings Co Ltd (b) | 400000 | 4485887 |
| Tsuruha Holdings Inc  | 1422500 | 18755630 |
| YAKUODO Holdings Co Ltd  | 914600 | 10319556 |
|  |  | 43655966 |
| Food Products - 0.1% |  |  |
| Iwatsuka Confectionery Co Ltd  | 211600 | 4299492 |
| Personal Care Products - 0.2% |  |  |
| Artnature Inc  | 1124900 | 5796877 |
| TOTAL CONSUMER STAPLES |  | 53752335 |
| Energy - 1.0% |  |  |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| Itochu Enex Co Ltd  | 230000 | 2798700 |
| Iwatani Corp  | 750000 | 9220175 |
| San-Ai Obbli Co Ltd  | 1268872 | 18671137 |
| TOTAL ENERGY |  | 30690012 |
| Financials - 3.6% |  |  |
| Banks - 3.6% |  |  |
| Chiba Bank Ltd/The  | 1750000 | 24155619 |
| Hachijuni Nagano Bank Ltd  | 2340000 | 31703132 |
| Hokuhoku Financial Group Inc  | 1205000 | 45938163 |
| Kyoto Financial Group Inc  | 460900 | 12739804 |
| TOTAL FINANCIALS |  | 114536718 |
| Health Care - 1.3% |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| Medikit Co Ltd  | 608800 | 11595875 |
| Nagaileben Co Ltd  | 1528000 | 16574416 |
| Techno Medica Co Ltd  | 283000 | 3976914 |
|  |  | 32147205 |
| Health Care Technology - 0.3% |  |  |
| Software Service Inc  | 129100 | 9308128 |
| TOTAL HEALTH CARE |  | 41455333 |
| Industrials - 6.7% |  |  |
| Building Products - 0.1% |  |  |
| Nitto Boseki Co Ltd  | 21000 | 3858351 |
| Commercial Services & Supplies - 3.5% |  |  |
| CTS Co Ltd  | 500000 | 2766210 |
| Daiei Kankyo Co Ltd  | 1845000 | 44320348 |
| Japan Elevator Service Holdings Co Ltd  | 3815000 | 38596612 |
| Midac Holdings Co Ltd (b) | 465817 | 6297168 |
| Park24 Co Ltd  | 875000 | 10289554 |
| Pronexus Inc  | 987097 | 6762614 |
|  |  | 109032506 |
| Construction & Engineering - 0.9% |  |  |
| SHO-BOND Holdings Co Ltd  | 3580500 | 30286406 |
| Machinery - 2.1% |  |  |
| Daifuku Co Ltd  | 180000 | 7869899 |
| Ebara Corp  | 63000 | 2155098 |
| Mitsuboshi Belting Ltd  | 242952 | 6121093 |
| Moriya Transportation Engineering & Manufacturing Co Ltd (b) | 721000 | 9564532 |
| Namura Shipbuilding Co Ltd  | 230000 | 6024430 |
| NS Tool Co Ltd (d) | 1444000 | 8016118 |
| Tocalo Co Ltd  | 1295749 | 25851424 |
|  |  | 65602594 |
| Professional Services - 0.0% |  |  |
| Funai Soken Holdings Inc  | 93752 | 668878 |
| Trading Companies & Distributors - 0.1% |  |  |
| Mitani Corp  | 280000 | 4642547 |
| TOTAL INDUSTRIALS |  | 214091282 |
| Information Technology - 4.5% |  |  |
| Electronic Equipment, Instruments & Components - 3.5% |  |  |
| Ai Holdings Corp  | 376292 | 6486203 |
| Azbil Corp  | 7789779 | 69327141 |
| Ibiden Co Ltd  | 95000 | 8125365 |
| Maruwa Co Ltd/Aichi  | 17000 | 8030918 |
| Rigaku Holdings Corp (b) | 620000 | 10775702 |
| Seikoh Giken Co Ltd (b) | 13000 | 2417498 |
| Shimadzu Corp  | 200000 | 4649096 |
|  |  | 109811923 |
| IT Services - 0.3% |  |  |
| NSD Co Ltd  | 630180 | 10817959 |
| Semiconductors & Semiconductor Equipment - 0.2% |  |  |
| Shibaura Mechatronics Corp  | 220000 | 6834976 |
| Software - 0.5% |  |  |
| Broadleaf Co Ltd  | 1345173 | 7781510 |
| Miroku Jyoho Service Co Ltd  | 333891 | 3644165 |
| Systena Corp  | 1950000 | 5334350 |
|  |  | 16760025 |
| TOTAL INFORMATION TECHNOLOGY |  | 144224883 |
| Materials - 1.9% |  |  |
| Chemicals - 1.6% |  |  |
| KeePer Technical Laboratory Co Ltd (b) | 120000 | 2273337 |
| Nihon Parkerizing Co Ltd  | 1018818 | 9369268 |
| Nissan Chemical Corp  | 76000 | 3286205 |
| Osaka Soda Co Ltd  | 460000 | 5507639 |
| SK Kaken Co Ltd  | 459120 | 30753600 |
|  |  | 51190049 |
| Construction Materials - 0.2% |  |  |
| Maeda Kosen Co Ltd  | 600000 | 7002530 |
| Containers & Packaging - 0.1% |  |  |
| FP Corp  | 170000 | 2511550 |
| TOTAL MATERIALS |  | 60704129 |
| Real Estate - 1.2% |  |  |
| Real Estate Management & Development - 1.2% |  |  |
| Arealink Co Ltd  | 747000 | 4807684 |
| Goldcrest Co Ltd  | 919200 | 19595500 |
| Katitas Co Ltd  | 220000 | 4391773 |
| SRE Holdings Corp  | 200000 | 4610647 |
| Tokyo Tatemono Co Ltd  | 250000 | 5752695 |
| TOTAL REAL ESTATE |  | 39158299 |
| Utilities - 0.2% |  |  |
| Electric Utilities - 0.2% |  |  |
| Shikoku Electric Power Co Inc  | 950000 | 9458359 |
| TOTAL JAPAN |  | 917848623 |
| KOREA (SOUTH) - 0.6%  |  |  |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| BGF retail Co Ltd  | 157318 | 14152535 |
| Financials - 0.1% |  |  |
| Insurance - 0.1% |  |  |
| Seoul Guarantee Insurance Co  | 130000 | 4230042 |
| TOTAL KOREA (SOUTH) |  | 18382577 |
| NETHERLANDS - 6.0%  |  |  |
| Financials - 0.3% |  |  |
| Capital Markets - 0.3% |  |  |
| Van Lanschot Kempen NV depository receipt  | 115000 | 8800028 |
| Industrials - 3.0% |  |  |
| Construction & Engineering - 0.4% |  |  |
| Koninklijke Heijmans N.V depository receipt (a) | 118000 | 11917125 |
| Machinery - 2.5% |  |  |
| Aalberts NV  | 2064835 | 78227146 |
| Aalberts NV rights (a)(b)(e) | 2064835 | 2786902 |
|  |  | 81014048 |
| Trading Companies & Distributors - 0.1% |  |  |
| IMCD NV (a)(b) | 31000 | 3643772 |
| TOTAL INDUSTRIALS |  | 96574945 |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| BE Semiconductor Industries NV  | 275890 | 80042940 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| CTP NV (c)(f) | 400000 | 7548917 |
| TOTAL NETHERLANDS |  | 192966830 |
| NORWAY - 2.2%  |  |  |
| Energy - 0.5% |  |  |
| Energy Equipment & Services - 0.5% |  |  |
| TGS ASA  | 940000 | 15269787 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Medistim ASA  | 393375 | 9553399 |
| Industrials - 1.3% |  |  |
| Aerospace & Defense - 1.1% |  |  |
| Kongsberg Gruppen ASA  | 1084540 | 36289076 |
| Machinery - 0.2% |  |  |
| Kongsberg Maritime AS  | 1084540 | 7107976 |
| TOTAL INDUSTRIALS |  | 43397052 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Selvaag Bolig ASA (a) | 840000 | 3164269 |
| TOTAL NORWAY |  | 71384507 |
| PHILIPPINES - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Transportation Infrastructure - 0.6% |  |  |
| International Container Terminal Services Inc  | 1625000 | 18877424 |
| SINGAPORE - 0.6%  |  |  |
| Industrials - 0.5% |  |  |
| Construction & Engineering - 0.5% |  |  |
| Boustead Singapore Ltd  | 8200000 | 15440658 |
| Real Estate - 0.1% |  |  |
| Health Care REITs - 0.1% |  |  |
| Parkway Life Real Estate Investment Trust  | 1600000 | 5062598 |
| TOTAL SINGAPORE |  | 20503256 |
| SPAIN - 1.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Automobile Components - 0.1% |  |  |
| CIE Automotive SA  | 120000 | 4084302 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Viscofan SA  | 72000 | 5070168 |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Clinica Baviera SA  | 110000 | 7203864 |
| Industrials - 0.5% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| Befesa SA (c)(f) | 135000 | 5181078 |
| Machinery - 0.3% |  |  |
| Fluidra SA  | 348620 | 8138150 |
| TOTAL INDUSTRIALS |  | 13319228 |
| Materials - 0.1% |  |  |
| Containers & Packaging - 0.1% |  |  |
| Vidrala SA  | 50000 | 4512684 |
| TOTAL SPAIN |  | 34190246 |
| SWEDEN - 11.3%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Automobile Components - 0.6% |  |  |
| Autoliv Inc  | 157900 | 18305347 |
| Broadline Retail - 0.4% |  |  |
| Rusta AB  | 1055549 | 11524122 |
| Household Durables - 0.0% |  |  |
| JM AB  | 210969 | 2634613 |
| TOTAL CONSUMER DISCRETIONARY |  | 32464082 |
| Consumer Staples - 0.1% |  |  |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Apotea Sverige AB (a)(b) | 568527 | 4855363 |
| Health Care - 0.4% |  |  |
| Life Sciences Tools & Services - 0.4% |  |  |
| AddLife AB B Shares  | 789823 | 12224495 |
| Industrials - 5.6% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| INVISIO AB  | 683872 | 19702684 |
| Machinery - 0.2% |  |  |
| Beijer Alma AB B Shares  | 228000 | 7149116 |
| Trading Companies & Distributors - 4.8% |  |  |
| AddTech AB B Shares  | 2617896 | 94533756 |
| Bergman & Beving AB B Shares  | 1727890 | 58483726 |
|  |  | 153017482 |
| TOTAL INDUSTRIALS |  | 179869282 |
| Information Technology - 3.3% |  |  |
| Electronic Equipment, Instruments & Components - 3.3% |  |  |
| Lagercrantz Group AB B Shares  | 4035155 | 105415980 |
| Materials - 0.3% |  |  |
| Chemicals - 0.2% |  |  |
| KB Components AB  | 900000 | 4386559 |
| Metals & Mining - 0.1% |  |  |
| Alleima AB  | 446403 | 3962278 |
| TOTAL MATERIALS |  | 8348837 |
| Real Estate - 0.6% |  |  |
| Real Estate Management & Development - 0.6% |  |  |
| Intea Fastigheter AB B Shares  | 390000 | 3113157 |
| John Mattson Fastighetsforetagen AB  | 2434706 | 15532120 |
| TOTAL REAL ESTATE |  | 18645277 |
| TOTAL SWEDEN |  | 361823316 |
| SWITZERLAND - 0.1%  |  |  |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Huber + Suhner AG  | 10000 | 2898829 |
| TAIWAN - 1.4%  |  |  |
| Communication Services - 0.5% |  |  |
| Interactive Media & Services - 0.5% |  |  |
| Addcn Technology Co Ltd (d) | 3352661 | 16457912 |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Bizlink Holding Inc  | 60000 | 5404732 |
| Information Technology - 0.8% |  |  |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| eMemory Technology Inc  | 193000 | 24519835 |
| TOTAL TAIWAN |  | 46382479 |
| TURKEY - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS  | 2571000 | 16159523 |
| UNITED KINGDOM - 16.9%  |  |  |
| Communication Services - 1.4% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| Zegona Communications plc  | 1665000 | 39920731 |
| Interactive Media & Services - 0.2% |  |  |
| Trustpilot Group PLC (a)(c)(f) | 1700000 | 6023768 |
| TOTAL COMMUNICATION SERVICES |  | 45944499 |
| Consumer Discretionary - 3.3% |  |  |
| Automobile Components - 0.1% |  |  |
| AB Dynamics PLC  | 250000 | 3310024 |
| Broadline Retail - 0.1% |  |  |
| B&M European Value Retail plc  | 1250000 | 2847369 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Dp Poland PLC (a) | 42210188 | 4681157 |
| Leisure Products - 3.0% |  |  |
| Games Workshop Group PLC  | 348880 | 92526527 |
| TOTAL CONSUMER DISCRETIONARY |  | 103365077 |
| Energy - 0.7% |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| DCC PLC  | 314000 | 23671063 |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Metro Bank Holdings PLC (a) | 8217445 | 16683376 |
| Industrials - 6.6% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Avon Technologies PLC  | 606500 | 14228084 |
| Air Freight & Logistics - 0.1% |  |  |
| Ferrari Group PLC  | 405000 | 3869172 |
| Machinery - 2.2% |  |  |
| Bodycote PLC  | 5301261 | 49125235 |
| Spirax Group PLC  | 200897 | 19595204 |
|  |  | 68720439 |
| Marine Transportation - 0.4% |  |  |
| Clarkson PLC  | 190634 | 12544836 |
| Trading Companies & Distributors - 3.5% |  |  |
| Diploma PLC  | 482600 | 45574838 |
| Howden Joinery Group PLC  | 6062682 | 64100903 |
|  |  | 109675741 |
| TOTAL INDUSTRIALS |  | 209038272 |
| Information Technology - 2.0% |  |  |
| Electronic Equipment, Instruments & Components - 1.8% |  |  |
| Oxford Instruments PLC  | 1490000 | 58514155 |
| Software - 0.2% |  |  |
| Pinewood Technologies Group PLC (a)(b) | 1600000 | 5453886 |
| TOTAL INFORMATION TECHNOLOGY |  | 63968041 |
| Materials - 1.8% |  |  |
| Construction Materials - 1.1% |  |  |
| SigmaRoc PLC (a) | 20913473 | 35088724 |
| Metals & Mining - 0.7% |  |  |
| Hill & Smith PLC  | 675000 | 23605611 |
| TOTAL MATERIALS |  | 58694335 |
| Real Estate - 0.6% |  |  |
| Diversified REITs - 0.3% |  |  |
| Shaftesbury Capital PLC  | 4250000 | 7720555 |
| Industrial REITs - 0.1% |  |  |
| Segro PLC  | 400000 | 3782885 |
| Specialized REITs - 0.2% |  |  |
| Big Yellow Group PLC (The)  | 566900 | 6958111 |
| TOTAL REAL ESTATE |  | 18461551 |
| TOTAL UNITED KINGDOM |  | 539826214 |
| UNITED STATES - 3.2%  |  |  |
| Consumer Discretionary - 1.9% |  |  |
| Hotels, Restaurants & Leisure - 1.9% |  |  |
| InterContinental Hotels Group PLC ADR  | 424200 | 61033897 |
| Consumer Staples - 0.9% |  |  |
| Consumer Staples Distribution & Retail - 0.9% |  |  |
| PriceSmart Inc  | 184712 | 28985007 |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.1% |  |  |
| Legend Biotech Corp ADR (a) | 170000 | 3998400 |
| Health Care Equipment & Supplies - 0.1% |  |  |
| Anteris Technologies Global Corp (a) | 406236 | 2498351 |
| TOTAL HEALTH CARE |  | 6496751 |
| Industrials - 0.2% |  |  |
| Building Products - 0.2% |  |  |
| Reliance Worldwide Corp Ltd  | 2500000 | 5928705 |
| TOTAL UNITED STATES |  | 102444360 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,957,079,637) |  | <br> **3126344635** |

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Valsoft Corp Series A-1.2 (a)(g)(h) | 283 | 2522133 |
| Valsoft Corp Series A-1.3 (a)(g)(h) | 100 | 891213 |
| Valsoft Corp Series A-1.4 (a)(g)(h) | 130 | 1158577 |
| TOTAL CANADA |  | 4571923 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $6,018,658) |  | <br> **4571923** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (i) | 3.69 | 43417729 | 43426412 |
| Fidelity Securities Lending Cash Central Fund (i)(j) | 3.69 | 55444589 | 55450134 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $98,875,652) |  |  | **98876546** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.4%**<br> (Cost $2,061,973,947)<br>| <br>**3229793104** |
| **NET OTHER ASSETS (LIABILITIES) - (0.4)%**  | **(14193164)** |
| **NET ASSETS - 100.0%** | **3215599940** |

---

**Legend**

(a) Non-income producing.

(b) Security or a portion of the security is on loan at period end.

(c) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $50,766,260 or 1.6% of net assets.

(d) Affiliated company.

(e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(f) 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 $45,407,406 or 1.4% of net assets.

(g) Level 3 security.

(h) 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 $4,571,923 or 0.1% of net assets.

(i) 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.

(j) Investment made with cash collateral received from securities on loan.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Valsoft Corp Series A-1.2 | 3/14/2025 | 3314980 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 992687 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 1710991 |

---

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 57886143 | 920371557 | 934831127 | 1293735 | (161) | - | 43426412 | 43417729 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 63940363 | 318528221 | 327014890 | 342894 | (3560) | - | 55450134 | 55444589 | 0.2% |
| Total | 121826506 | 1238899778 | 1261846017 | 1636629 | (3721) | - | 98876546 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**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 ($) and Shares end of period columns 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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  |
| Addcn Technology Co Ltd | 20238502 | - | 1086899 | 440329 | (336697) | (2356994) | 16457912 | 3352661 |
| Curves Holdings Co Ltd | 26063023 | - | 1948723 | 318476 | (990742) | 3809839 | 26933397 | 5149659 |
| Koshidaka Holdings Co Ltd | 40142351 | - | 4273818 | 351739 | 91752 | (5902287) | 30057998 | 4693759 |
| NS Tool Co Ltd | 7177367 | - | - | 122066 | - | 838751 | 8016118 | 1444000 |
| Total | 93621243 | - | 7309440 | 1232610 | (1235687) | (3610691) | 81465425 |  |

---

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 62402411 | 45944499 | 16457912 | - |
| Consumer Discretionary | 457663073 | 241617682 | 216045391 | - |
| Consumer Staples | 128547142 | 48560342 | 79986800 | - |
| Energy | 87821673 | 46285290 | 41536383 | - |
| Financials | 314306215 | 155057744 | 159248471 | - |
| Health Care | 123908701 | 75822480 | 48086221 | - |
| Industrials | 1109359827 | 849617026 | 259742801 | - |
| Information Technology | 471022159 | 302277441 | 168744718 | - |
| Materials | 233377166 | 127741885 | 105635281 | - |
| Real Estate | 128477909 | 81141913 | 47335996 | - |
| Utilities | 9458359 | - | 9458359 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 4571923 | - | - | 4571923 |
|  **Money Market Funds** | 98876546 | 98876546 | - | - |
| **Total Investments in Securities:** | 3229793104 | 2072942848 | 1152278333 | 4571923 |

---

**Fidelity® Series International Small Cap Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $73,780,339) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,882,157,388) | $3049451133 |  |
| Fidelity Central Funds (cost $98,875,652) | 98876546 |  |
| Other affiliated issuers (cost $80,940,907) | 81465425 |  |
| Total Investment in Securities (cost $2,061,973,947) |  | $3229793104 |
| Cash |  | 46181 |
| Foreign currency held at value (cost $569,330) |  | 570322 |
| Receivable for investments sold |  | 105841440 |
| Receivable for fund shares sold |  | 3236504 |
| Dividends receivable |  | 19274897 |
| Reclaims receivable |  | 9268293 |
| Distributions receivable from Fidelity Central Funds |  | 285638 |
| Other receivables |  | 4054 |
| **Total assets** |  | 3368320433 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $6333623 |  |
| Delayed delivery | 3191108 |  |
| Payable for fund shares redeemed | 87727436 |  |
| Other payables and accrued expenses | 17304 |  |
| Collateral on securities loaned | 55451022 |  |
| **Total liabilities** |  | 152720493 |
| **Net Assets**  |  | $3215599940 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1776167961 |
| Total accumulated earnings (loss) |  | 1439431979 |
| **Net Assets** |  | $3215599940 |
| **Net Asset Value**, offering price and redemption price per share ($3,215,599,940 ÷ 170,657,762 shares) |  | $18.84 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends (including $1,232,610 earned from affiliated issuers) |  | $40298114 |
| Income from Fidelity Central Funds (including $342,894 from security lending)  |  | 1636629 |
| Security lending |  | 33705 |
| Income before foreign taxes withheld |  | $41968448 |
| Less foreign taxes withheld |  | (2805125) |
| **Total income** |  | 39163323 |
| **Expenses** |  |  |
| Custodian fees and expenses | $124766 |  |
| Independent trustees' fees and expenses | 5920 |  |
| **Total expenses** |  | 130686 |
| **Net Investment income (loss)** |  | 39032637 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 326530443 |  |
| Fidelity Central Funds | (3721) |  |
| Other affiliated issuers | (1235687) |  |
| Foreign currency transactions | (1346405) |  |
| Total net realized gain (loss) |  | 323944630 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (40129903) |  |
| Affiliated issuers  | (3610691) |  |
| Assets and liabilities in foreign currencies | 790470 |  |
| Total change in net unrealized appreciation (depreciation) |  | (42950124) |
| **Net gain (loss)** |  | 280994506 |
| **Net increase (decrease) in net assets resulting from operations** |  | $320027143 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $39032637 | $90118882 |
| &nbsp;&nbsp;Net realized gain (loss) | 323944630<br>| 449497122<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (42950124) | 251003277<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 320027143<br>| 790619281<br>|
| Distributions to shareholders | (507891031)<br>| (353063220)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 154392114 | 307044878 |
| Reinvestment of distributions | 507891031<br>| 353063220<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (1009799054) | (1253730859) |
| **Net increase (decrease) in net assets resulting from share transactions** | (347515909)<br>| (593622761)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | (535379797)<br>| (156066700)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 3750979737 | 3907046437<br>|
| &nbsp;&nbsp;End of period | $3215599940 | $3750979737 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 7220289 | 17605350 |
| Issued in reinvestment of distributions | 28841058<br>| 21243274<br>|
| &nbsp;&nbsp;Redeemed | (52902392) | (70335883) |
| &nbsp;&nbsp;Net increase (decrease) | (16841045) | (31487259) |

---

**Financial Highlights** 

**Fidelity® Series International Small Cap Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $20.01 | $17.84 | $14.52 | $14.48 | $24.12 | $17.55 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .20  | .43  | .40  | .32  | .35  | .29  |
| Net realized and unrealized gain (loss)  | 1.36  | 3.40  | 3.49  | .67  | (7.16)  | 6.45  |
| Total from investment operations  | 1.56  | 3.83  | 3.89  | .99  | (6.81)  | 6.74  |
| Distributions from net investment income  | (.70)  | (.55)  | (.37)  | (.21)  | (.47)  | (.17)  |
| Distributions from net realized gain  | (2.02)  | (1.11)  | (.20)  | (.73)  | (2.35)  | -  |
| Total distributions  | (2.73) C | (1.66)  | (.57)  | (.95) C | (2.83) C | (.17)  |
| Net asset value, end of period  | $18.84 | $20.01 | $17.84 | $14.52 | $14.48 | $24.12 |
| **Total Return** D,E | 8.73% <br>| 23.33%  | 27.24%  | 6.57%  | (31.82)%  | 38.60%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .01% H | .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | .01% H | .01%  | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 2.18% H | 2.35%  | 2.32%  | 2.02%  | 2.03%  | 1.34%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3215600 | $3750980 | $3907046 | $3418303 | $3246258 | $4847936 |
| Portfolio turnover rate I | 42% H<br>| 37%  | 30%  | 26%  | 25%  | 32%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total distributions per share do not sum due to rounding.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Fidelity® Series International Value Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.6%** | &nbsp;&nbsp;**Common Stocks - 97.6%** | &nbsp;&nbsp;**Common Stocks - 97.6%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.9%  |  |  |
| Financials - 0.4% |  |  |
| Capital Markets - 0.4% |  |  |
| Macquarie Group Ltd  | 416812 | 71605057 |
| Materials - 3.5% |  |  |
| Metals & Mining - 3.5% |  |  |
| Glencore PLC  | 36955727 | 287213927 |
| Rio Tinto PLC  | 3214073 | 323774720 |
| TOTAL MATERIALS |  | 610988647 |
| TOTAL AUSTRALIA |  | 682593704 |
| BELGIUM - 2.1%  |  |  |
| Financials - 1.8% |  |  |
| Banks - 1.8% |  |  |
| KBC Group NV  | 2361333 | 313858613 |
| Health Care - 0.3% |  |  |
| Pharmaceuticals - 0.3% |  |  |
| UCB SA (b) | 194100 | 52668624 |
| TOTAL BELGIUM |  | 366527237 |
| DENMARK - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Air Freight & Logistics - 0.6% |  |  |
| DSV A/S  | 440840 | 107905286 |
| FINLAND - 2.4%  |  |  |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Mandatum Holding Oy  | 2513887 | 20092384 |
| Sampo Oyj A Shares  | 11126035 | 115613297 |
| TOTAL FINANCIALS |  | 135705681 |
| Information Technology - 1.0% |  |  |
| Communications Equipment - 1.0% |  |  |
| Nokia Oyj  | 13539200 | 168516443 |
| Utilities - 0.6% |  |  |
| Electric Utilities - 0.6% |  |  |
| Fortum Oyj  | 4334400 | 109066750 |
| TOTAL FINLAND |  | 413288874 |
| FRANCE - 8.9%  |  |  |
| Communication Services - 1.6% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| Orange SA  | 10033400 | 208918984 |
| Entertainment - 0.2% |  |  |
| Vivendi SE  | 14643555 | 34185281 |
| Media - 0.2% |  |  |
| Canal+ SA  | 10601255 | 33092458 |
| TOTAL COMMUNICATION SERVICES |  | 276196723 |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| Danone SA  | 1139600 | 89285439 |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| TotalEnergies SE  | 1659467 | 154427856 |
| Financials - 3.0% |  |  |
| Banks - 1.2% |  |  |
| BNP Paribas SA  | 2060770 | 216425192 |
| Insurance - 1.8% |  |  |
| AXA SA  | 6320479 | 304680555 |
| TOTAL FINANCIALS |  | 521105747 |
| Industrials - 1.2% |  |  |
| Building Products - 0.9% |  |  |
| Cie de Saint-Gobain SA  | 1572200 | 144044771 |
| Trading Companies & Distributors - 0.3% |  |  |
| Rexel SA  | 1465800 | 61519222 |
| TOTAL INDUSTRIALS |  | 205563993 |
| Materials - 1.2% |  |  |
| Chemicals - 1.2% |  |  |
| Air Liquide SA  | 995288 | 214126669 |
| Utilities - 0.6% |  |  |
| Multi-Utilities - 0.6% |  |  |
| Veolia Environnement SA  | 2504600 | 105917543 |
| TOTAL FRANCE |  | 1566623970 |
| GERMANY - 10.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Automobiles - 0.5% |  |  |
| Bayerische Motoren Werke AG  | 1001700 | 91606275 |
| Financials - 2.8% |  |  |
| Banks - 0.3% |  |  |
| Commerzbank AG (a) | 1500500 | 62006987 |
| Capital Markets - 0.4% |  |  |
| Deutsche Bank AG  | 1047600 | 32582167 |
| Deutsche Boerse AG  | 141400 | 43381222 |
|  |  | 75963389 |
| Insurance - 2.1% |  |  |
| Hannover Rueck SE  | 576263 | 174222884 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 311491 | 186738986 |
|  |  | 360961870 |
| TOTAL FINANCIALS |  | 498932246 |
| Health Care - 1.3% |  |  |
| Health Care Providers & Services - 0.8% |  |  |
| Fresenius SE & Co KGaA  | 2676000 | 129597637 |
| Pharmaceuticals - 0.5% |  |  |
| Bayer AG  | 2134682 | 95329311 |
| TOTAL HEALTH CARE |  | 224926948 |
| Industrials - 4.2% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| Rheinmetall AG  | 128588 | 204613684 |
| Air Freight & Logistics - 1.0% |  |  |
| Deutsche Post AG  | 3089707 | 182954692 |
| Industrial Conglomerates - 1.8% |  |  |
| Siemens AG  | 1060987 | 315284141 |
| Machinery - 0.2% |  |  |
| Daimler Truck Holding AG  | 750900 | 37873843 |
| TOTAL INDUSTRIALS |  | 740726360 |
| Materials - 0.4% |  |  |
| Chemicals - 0.1% |  |  |
| BASF SE  | 178000 | 11416314 |
| Construction Materials - 0.3% |  |  |
| Heidelberg Materials AG  | 235900 | 52049747 |
| TOTAL MATERIALS |  | 63466061 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Vonovia SE (a) | 2833449 | 76342208 |
| Utilities - 1.3% |  |  |
| Independent Power and Renewable Electricity Producers - 1.3% |  |  |
| RWE AG  | 3090800 | 225049123 |
| TOTAL GERMANY |  | 1921049221 |
| HONG KONG - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Insurance - 1.3% |  |  |
| Prudential PLC  | 15402968 | 232115778 |
| Prudential PLC rights (a)(b)(c) | 12615268 | 2393005 |
| TOTAL HONG KONG |  | 234508783 |
| INDIA - 0.4%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Reliance Industries Ltd GDR (d) | 1299500 | 78489800 |
| ISRAEL - 0.6%  |  |  |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (b) | 2802800 | 98294196 |
| ITALY - 4.8%  |  |  |
| Energy - 1.4% |  |  |
| Oil, Gas & Consumable Fuels - 1.4% |  |  |
| Eni SpA (a) | 8530500 | 241211953 |
| Financials - 2.5% |  |  |
| Banks - 2.2% |  |  |
| BPER Banca SPA  | 9133400 | 134357147 |
| UniCredit SpA  | 3244100 | 250711789 |
|  |  | 385068936 |
| Insurance - 0.3% |  |  |
| Generali  | 1409142 | 63146457 |
| TOTAL FINANCIALS |  | 448215393 |
| Industrials - 0.9% |  |  |
| Electrical Equipment - 0.6% |  |  |
| Prysmian SpA  | 606700 | 92284664 |
| Passenger Airlines - 0.3% |  |  |
| Ryanair Holdings PLC ADR  | 1050800 | 57426219 |
| TOTAL INDUSTRIALS |  | 149710883 |
| TOTAL ITALY |  | 839138229 |
| JAPAN - 20.6%  |  |  |
| Communication Services - 0.2% |  |  |
| Interactive Media & Services - 0.2% |  |  |
| LY Corp  | 12159800 | 31983034 |
| Consumer Discretionary - 3.4% |  |  |
| Automobiles - 1.9% |  |  |
| Toyota Motor Corp  | 17368600 | 333397530 |
| Household Durables - 1.5% |  |  |
| Panasonic Holdings Corp  | 10082000 | 206235477 |
| Sumitomo Forestry Co Ltd (a) | 6518000 | 58904071 |
|  |  | 265139548 |
| TOTAL CONSUMER DISCRETIONARY |  | 598537078 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Inpex Corp  | 4302800 | 112174772 |
| Financials - 8.1% |  |  |
| Banks - 5.5% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 28697144 | 515482223 |
| Sumitomo Mitsui Financial Group Inc  | 12462349 | 440033755 |
|  |  | 955515978 |
| Financial Services - 1.3% |  |  |
| ORIX Corp  | 6610333 | 222480615 |
| Insurance - 1.3% |  |  |
| Tokio Marine Holdings Inc  | 5163025 | 236449872 |
| TOTAL FINANCIALS |  | 1414446465 |
| Industrials - 5.3% |  |  |
| Industrial Conglomerates - 1.3% |  |  |
| Hitachi Ltd  | 7345000 | 233558874 |
| Machinery - 1.3% |  |  |
| MINEBEA MITSUMI Inc  | 3683751 | 73649466 |
| Mitsubishi Heavy Industries Ltd  | 5331900 | 159135345 |
|  |  | 232784811 |
| Trading Companies & Distributors - 2.7% |  |  |
| ITOCHU Corp  | 15613365 | 193498148 |
| Mitsui & Co Ltd  | 6993000 | 262558740 |
|  |  | 456056888 |
| TOTAL INDUSTRIALS |  | 922400573 |
| Information Technology - 1.7% |  |  |
| IT Services - 0.2% |  |  |
| TIS Inc  | 1634456 | 35623017 |
| Semiconductors & Semiconductor Equipment - 1.4% |  |  |
| Renesas Electronics Corp  | 9368660 | 189459111 |
| Rohm Co Ltd  | 2810900 | 60813709 |
|  |  | 250272820 |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| FUJIFILM Holdings Corp  | 717957 | 13213023 |
| TOTAL INFORMATION TECHNOLOGY |  | 299108860 |
| Materials - 0.9% |  |  |
| Chemicals - 0.9% |  |  |
| Shin-Etsu Chemical Co Ltd  | 3569910 | 164366513 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Sumitomo Realty & Development Co Ltd  | 2411800 | 74764863 |
| TOTAL JAPAN |  | 3617782158 |
| KOREA (SOUTH) - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Samsung Electronics Co Ltd  | 515463 | 78120643 |
| PORTUGAL - 0.7%  |  |  |
| Energy - 0.7% |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| Galp Energia SGPS SA  | 5319300 | 124610209 |
| SINGAPORE - 1.8%  |  |  |
| Communication Services - 0.7% |  |  |
| Diversified Telecommunication Services - 0.7% |  |  |
| Singapore Telecommunications Ltd  | 33692500 | 122027446 |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| United Overseas Bank Ltd  | 6664089 | 189786989 |
| TOTAL SINGAPORE |  | 311814435 |
| SOUTH AFRICA - 1.1%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Thungela Resources Ltd (United Kingdom) (a) | 673074 | 5870826 |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| Anglo American PLC  | 2851515 | 141107158 |
| Valterra Platinum Ltd (United Kingdom)  | 503379 | 40790140 |
| TOTAL MATERIALS |  | 181897298 |
| TOTAL SOUTH AFRICA |  | 187768124 |
| SPAIN - 4.8%  |  |  |
| Financials - 4.8% |  |  |
| Banks - 4.8% |  |  |
| Banco Santander SA (a) | 54588772 | 665027008 |
| Bankinter SA  | 10335700 | 171828452 |
| TOTAL SPAIN |  | 836855460 |
| SWEDEN - 1.8%  |  |  |
| Financials - 1.8% |  |  |
| Financial Services - 1.8% |  |  |
| Investor AB B Shares  | 7941760 | 319984265 |
| SWITZERLAND - 2.7%  |  |  |
| Financials - 2.7% |  |  |
| Capital Markets - 0.3% |  |  |
| UBS Group AG (United States)  | 1422129 | 62431463 |
| Insurance - 2.4% |  |  |
| Swiss Life Holding AG  | 93550 | 109767249 |
| Zurich Insurance Group AG  | 442439 | 308477449 |
|  |  | 418244698 |
| TOTAL SWITZERLAND |  | 480676161 |
| UNITED KINGDOM - 17.1%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Household Durables - 0.7% |  |  |
| Barratt Redrow PLC  | 36149371 | 123115841 |
| Specialty Retail - 0.1% |  |  |
| JD Sports Fashion PLC  | 15649900 | 14331940 |
| TOTAL CONSUMER DISCRETIONARY |  | 137447781 |
| Consumer Staples - 3.6% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Tesco PLC  | 6578092 | 43148964 |
| Tobacco - 3.4% |  |  |
| British American Tobacco PLC  | 6111561 | 359939348 |
| Imperial Brands PLC  | 5817454 | 221020616 |
|  |  | 580959964 |
| TOTAL CONSUMER STAPLES |  | 624108928 |
| Financials - 7.0% |  |  |
| Banks - 5.7% |  |  |
| HSBC Holdings PLC  | 20303700 | 373584547 |
| Lloyds Banking Group PLC  | 297816238 | 404822527 |
| Standard Chartered PLC  | 8956222 | 228068665 |
|  |  | 1006475739 |
| Capital Markets - 0.6% |  |  |
| London Stock Exchange Group PLC  | 422500 | 54904561 |
| St James's Place PLC  | 2557900 | 42411872 |
|  |  | 97316433 |
| Insurance - 0.7% |  |  |
| Beazley PLC  | 7443117 | 129236105 |
| TOTAL FINANCIALS |  | 1233028277 |
| Health Care - 2.6% |  |  |
| Pharmaceuticals - 2.6% |  |  |
| Astrazeneca PLC  | 768459 | 145851528 |
| GSK PLC  | 11831116 | 310181986 |
| TOTAL HEALTH CARE |  | 456033514 |
| Industrials - 1.9% |  |  |
| Aerospace & Defense - 1.9% |  |  |
| BAE Systems PLC  | 8762564 | 243718105 |
| Rolls-Royce Holdings PLC  | 6131700 | 98668619 |
| TOTAL INDUSTRIALS |  | 342386724 |
| Utilities - 1.2% |  |  |
| Electric Utilities - 1.2% |  |  |
| SSE PLC  | 5790800 | 207336033 |
| TOTAL UNITED KINGDOM |  | 3000341257 |
| UNITED STATES - 10.8%  |  |  |
| Consumer Staples - 0.8% |  |  |
| Food Products - 0.8% |  |  |
| Nestle SA  | 1311490 | 132774781 |
| Energy - 3.5% |  |  |
| Oil, Gas & Consumable Fuels - 3.5% |  |  |
| BP PLC  | 13822477 | 109416444 |
| Shell PLC ADR  | 5593807 | 507190481 |
| TOTAL ENERGY |  | 616606925 |
| Health Care - 2.3% |  |  |
| Pharmaceuticals - 2.3% |  |  |
| Roche Holding AG  | 970860 | 395625295 |
| Industrials - 0.5% |  |  |
| Trading Companies & Distributors - 0.5% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 382095 | 100919533 |
| Materials - 3.7% |  |  |
| Chemicals - 0.7% |  |  |
| Linde PLC  | 230014 | 115269216 |
| Construction Materials - 3.0% |  |  |
| Amrize Ltd  | 1485980 | 81321437 |
| CRH PLC  | 2647128 | 313472898 |
| Holcim AG  | 1493250 | 138762389 |
|  |  | 533556724 |
| TOTAL MATERIALS |  | 648825940 |
| TOTAL UNITED STATES |  | 1894752474 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $10,265,911,329) |  | <br> **17161124486** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** | &nbsp;&nbsp;**Money Market Funds - 2.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e) | 3.69 | 255652115 | 255703246 |
| Fidelity Securities Lending Cash Central Fund (e)(f) | 3.69 | 123379917 | 123392255 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $379,095,501) |  |  | **379095501** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $10,645,006,830)<br>| <br>**17540219987** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **38026550** |
| **NET ASSETS - 100.0%** | **17578246537** |

---

**Legend**

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing.

(c) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(d) 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 $78,489,800 or 0.4% of net assets.

(e) 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.

(f) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 188544089 | 1841567067 | 1774403757 | 4077373 | (4153) | - | 255703246 | 255652115 | 0.4% |
| Fidelity Securities Lending Cash Central Fund | 19063320 | 983028374 | 878695346 | 301022 | (4093) | - | 123392255 | 123379917 | 0.4% |
| Total | 207607409 | 2824595441 | 2653099103 | 4378395 | (8246) | - | 379095501 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 430207203 | 33092458 | 397114745 | - |
| Consumer Discretionary | 827591134 | 105938215 | 721652919 | - |
| Consumer Staples | 846169148 | 43148964 | 803020184 | - |
| Energy | 1333392341 | 870589172 | 462803169 | - |
| Financials | 6698709137 | 2481843148 | 4216865989 | - |
| Health Care | 1227548577 | 787768954 | 439779623 | - |
| Industrials | 2569613352 | 532383944 | 2037229408 | - |
| Information Technology | 545745946 | 168516443 | 377229503 | - |
| Materials | 1883671128 | 550853691 | 1332817437 | - |
| Real Estate | 151107071 | - | 151107071 | - |
| Utilities | 647369449 | 109066750 | 538302699 | - |
|  **Money Market Funds** | 379095501 | 379095501 | - | - |
| **Total Investments in Securities:** | 17540219987 | 6062297240 | 11477922747 | - |

---

**Fidelity® Series International Value Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $196,121,524) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $10,265,911,329) | $17161124486 |  |
| Fidelity Central Funds (cost $379,095,501) | 379095501 |  |
| Total Investment in Securities (cost $10,645,006,830) |  | $17540219987 |
| Foreign currency held at value (cost $22,743,531) |  | 22768084 |
| Receivable for investments sold |  | 50801299 |
| Receivable for fund shares sold |  | 183621686 |
| Dividends receivable |  | 87545193 |
| Reclaims receivable |  | 66467153 |
| Interest receivable |  | 999 |
| Distributions receivable from Fidelity Central Funds |  | 832479 |
| Other receivables |  | 123191 |
| **Total assets** |  | 17952380071 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $85348036 |  |
| Delayed delivery | 2429431 |  |
| Payable for fund shares redeemed | 162655352 |  |
| Other payables and accrued expenses | 304367 |  |
| Collateral on securities loaned | 123396348 |  |
| **Total liabilities** |  | 374133534 |
| **Net Assets**  |  | $17578246537 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $9915744000 |
| Total accumulated earnings (loss) |  | 7662502537 |
| **Net Assets** |  | $17578246537 |
| **Net Asset Value**, offering price and redemption price per share ($17,578,246,537 ÷ 1,058,569,709 shares) |  | $16.61 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $234075799 |
| Foreign Tax Reclaims |  | 14798528 |
| Income from Fidelity Central Funds (including $301,022 from security lending)  |  | 4378395 |
| Security lending |  | 32528 |
| Income before foreign taxes withheld |  | $253285250 |
| Less foreign taxes withheld |  | (24928074) |
| **Total income** |  | 228357176 |
| **Expenses** |  |  |
| Custodian fees and expenses | $376401 |  |
| Independent trustees' fees and expenses | 25844 |  |
| **Total expenses** |  | 402245 |
| **Net Investment income (loss)** |  | 227954931 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 966589944 |  |
| Redemptions in-kind | 108250310 |  |
| Fidelity Central Funds | (8246) |  |
| Foreign currency transactions | (1339957) |  |
| Total net realized gain (loss) |  | 1073492051 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 714742832 |  |
| Assets and liabilities in foreign currencies | 3603394 |  |
| Total change in net unrealized appreciation (depreciation) |  | 718346226 |
| **Net gain (loss)** |  | 1791838277 |
| **Net increase (decrease) in net assets resulting from operations** |  | $2019793208 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $227954931 | $519270503 |
| &nbsp;&nbsp;Net realized gain (loss) | 1073492051<br>| 1810983073<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 718346226 | 2060469871<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 2019793208<br>| 4390723447<br>|
| Distributions to shareholders | (1659617271)<br>| (633417316)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 1375286193 | 1691978648 |
| Reinvestment of distributions | 1659617271<br>| 633417316<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (1886521997) | (5028246214) |
| **Net increase (decrease) in net assets resulting from share transactions** | 1148381467<br>| (2702850250)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1508557404<br>| 1054455881<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 16069689133 | 15015233252<br>|
| &nbsp;&nbsp;End of period | $17578246537 | $16069689133 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 84952527 | 123099338 |
| Issued in reinvestment of distributions | 108613696<br>| 51399480<br>|
| &nbsp;&nbsp;Redeemed | (114969117) | (360370894) |
| &nbsp;&nbsp;Net increase (decrease) | 78597106 | (185872076) |

---

**Financial Highlights** 

**Fidelity® Series International Value Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $16.40 | $12.88 | $10.64 | $9.24 | $11.62 | $8.25 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22  | .48  | .40  | .37  | .42  | .43 C |
| Net realized and unrealized gain (loss)  | 1.74  | 3.60  | 2.22  | 1.36  | (2.24)  | 3.23  |
| Total from investment operations  | 1.96  | 4.08  | 2.62  | 1.73  | (1.82)  | 3.66  |
| Distributions from net investment income  | (.72)  | (.56)  | (.38)  | (.33)  | (.56)  | (.29)  |
| Distributions from net realized gain  | (1.02)  | -  | -  | -  | -  | -  |
| Total distributions  | (1.75) D | (.56)  | (.38)  | (.33)  | (.56)  | (.29)  |
| Net asset value, end of period  | $16.61 | $16.40 | $12.88 | $10.64 | $9.24 | $11.62 |
| **Total Return** E,F | 12.86% <br>| 33.10%  | 25.19%  | 18.99%  | (16.40)%  | 44.95%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | -% I,J | .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of fee waivers, if any  | -% I,J<br>| .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | -% I,J | .01%  | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 2.72% J | 3.38%  | 3.25%  | 3.42%  | 4.09%  | 3.97% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $17578247 | $16069689 | $15015233 | $12786763 | $12367978 | $15330482 |
| Portfolio turnover rate K | 49% J,L<br>| 29% L | 33% L | 30% L | 31% L | 34%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.11 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 3.00%.*

D*Total distributions per share do not sum due to rounding.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Amount represents less than .005%.*

J*Annualized.*

K*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

L*Portfolio turnover rate excludes securities received or delivered in-kind.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Series Emerging Markets Fund, Fidelity Series Emerging Markets Opportunities Fund, Fidelity Series International Growth Fund, Fidelity Series International Small Cap Fund and Fidelity Series International Value Fund (the Funds) are funds of Fidelity Investment Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Each Fund is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile. The financial statements for Fidelity Series Emerging Markets Opportunities Fund have been consolidated to include the SPV accounts (see Consolidated Special Purpose Vehicle note below).

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Each Fund operates as a single operating segment. Each Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each 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, each 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 each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

Each Fund categorizes the inputs to valuation techniques used to value its investments 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 each 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 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 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. Corporate bonds and U.S. government and government agency 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. Exchange-Traded Funds (ETFs) are valued at their last 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 but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of each Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld or foreign tax reclaims, as applicable. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable or reclaims receivable, as applicable. Fidelity Series International Growth Fund, Fidelity Series International Small Cap Fund and Fidelity Series International Value Fund have filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign taxes withheld or foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Fidelity Series Emerging Markets Fund did not recognize dividend income during the period on certain Russian securities due to restrictions imposed by the Russian government on these dividend payments. There is uncertainty regarding the timeline for these restrictions to be lifted and the collectability of these and future dividend payments on Russian securities.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity Series Emerging Markets Fund, Fidelity Series Emerging Markets Opportunities Fund and Fidelity Series International Growth Fund are subject to a tax imposed on capital gains by certain countries in which they invest. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses or Deferred taxes on each applicable Fund's Statement of Assets and Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), redemptions in-kind, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Tax cost ($)**  | **Gross unrealized appreciation ($)** | **Gross unrealized depreciation ($)** | **Net unrealized appreciation (depreciation)($)** |
| **Fidelity Series Emerging Markets Fund**  | 4860109662 | 3280039133 | (182917181) | 3097121952 |
| **Fidelity Series Emerging Markets Opportunities Fund**  | 16997199467 | 15482979791 | (1161342427) | 14321637364 |
| **Fidelity Series International Growth Fund**  | 11225653012 | 6970141337 | (287703095) | 6682438242 |
| **Fidelity Series International Small Cap Fund**  | 2134748726 | 1262977850 | (167933472) | 1095044378 |
| **Fidelity Series International Value Fund**  | 10938451381 | 6964029135 | (362260529) | 6601768606 |

---

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-term ($)** | **Long-term ($)** | **Total capital loss carryforward ($)** |
| **Fidelity Series Emerging Markets Fund**  | (208885852) | - | (208885852) |
| **Fidelity Series Emerging Markets Opportunities Fund**  | (1233615480) | (114023317) | (1347638797) |

---

**Delayed Delivery Transactions and When-Issued Securities.** During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**Consolidated Special Purpose Vehicle**. The Fund included in the table below holds private equity of Indian issuers through a wholly owned special purpose vehicle (SPV). As of period end, the investment in the SPV was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **SPV Name** | **Net Assets of SPV** | **% of Fund's Total Assets** |
| **Fidelity Series Emerging Markets Opportunities Fund** | Fid FDI 2117, LLC | 91416166 | .28 |

---

The financial statements have been consolidated to include the SPV accounts where applicable. Accordingly, all inter-company transactions and balances have been eliminated.

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** Each Fund's investment objectives allow for various types of derivative instruments, including futures 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.

Derivatives were used to increase returns and 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 objectives may not be achieved.

Derivatives were used to increase or decrease exposure to the following risk(s):

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| | |
|:---|:---|
| 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. |

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

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 and amounts recognized in the Statement of Assets and Liabilities. 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 fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily. Subsequent payments from or to a fund are made or as needed depending on the fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.

Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.

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| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Series Emerging Markets Fund** | 3266633094 | 3538147317 |
| **Fidelity Series Emerging Markets Opportunities Fund** | 7594333408 | 8377589651 |
| **Fidelity Series International Growth Fund** | 5895154938 | 5085616489 |
| **Fidelity Series International Small Cap Fund** | 735059544 | 1575372837 |
| **Fidelity Series International Value Fund** | 4056399127 | 4263177734 |

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**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services for which the Funds do not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Funds, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Deferred Trustee Compensation.** Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.

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| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Emerging Markets Opportunities Fund** | 1028098 |
| **Fidelity Series International Growth Fund** | 106289 |
| **Fidelity Series International Value Fund** | 123191 |

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**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

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| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Emerging Markets Opportunities Fund** | 23314 |
| **Fidelity Series International Growth Fund** | 2731 |
| **Fidelity Series International Small Cap Fund** | 360 |
| **Fidelity Series International Value Fund** | 1785 |

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**Interfund Lending Program.** Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), each Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing each Fund to borrow from, or lend money to, other participating affiliated funds at rates that are beneficial to both the borrowing and lending fund. Borrowings under the program are generally for temporary or emergency purposes, including meeting fund shareholder redemptions. The interfund loan rate is determined, as specified in the Exemptive Order, by averaging, (1) the higher of the overnight time deposit rate and the current overnight repurchase agreement rate, and (2) a benchmark rate representing the lowest bank loan rate available to the funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Borrower or Lender** | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)**  |
| **Fidelity Series Emerging Markets Opportunities Fund**  | Borrower | 142748556 | 3.91% | 139667 |

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**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

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| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Series Emerging Markets Fund** | 36064820 | 45146728 | (3687626) |
| **Fidelity Series Emerging Markets Opportunities Fund** | 64662697 | 77633566 | 6158203 |
| **Fidelity Series International Growth Fund** | 239398985 | 302384768 | 94158729 |
| **Fidelity Series International Small Cap Fund** | 26277251 | 124646224 | 46898853 |
| **Fidelity Series International Value Fund** | 73153572 | 259830767 | 65190402 |

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**Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The total net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Affiliated Issuers ($)** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series International Growth Fund** | 10981224 | - | 113281947 | 113281947 | 221734349 |
| **Fidelity Series International Value Fund** | 13523465 | - | 108250310 | 108250310 | 221309514 |

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**Prior Fiscal Year Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series International Growth Fund** | 28749009 | 280869364 | 280869364 | 536840984 |
| **Fidelity Series International Value Fund** | 40412290 | 221078865 | 221078865 | 541309379 |

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**Other.** During the period, the investment adviser reimbursed the Funds for certain losses as follows:

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| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Emerging Markets Opportunities Fund** | 6014 |
| **Fidelity Series International Small Cap Fund** | 1658 |
| **Fidelity Series International Value Fund** | 66202 |

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**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**8. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

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| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Series Emerging Markets Fund** | 37298 | - | - |
| **Fidelity Series Emerging Markets Opportunities Fund** | 346822 | 1115 | - |
| **Fidelity Series International Growth Fund** | 2496 | - | - |
| **Fidelity Series International Small Cap Fund** | 40728 | 117 | - |
| **Fidelity Series International Value Fund** | 22177 | - | - |

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At period end, the value of any non-cash collateral is presented below. Non-cash collateral is held by a third-party bank for the benefit of a fund and the borrower. A fund is not permitted to sell or re-pledge non-cash collateral except in the event of borrower default, and therefore it is not included in the Schedule of Investments or Statement of Assets and Liabilities.

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| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Emerging Markets Fund** | 17778499 |
| **Fidelity Series Emerging Markets Opportunities Fund** | 60365814 |
| **Fidelity Series International Small Cap Fund** | 21596129 |
| **Fidelity Series International Value Fund** | 82265243 |

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**9. Expense Reductions.** 

The investment adviser contractually agreed to reimburse each Fund to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2029. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement.

The following Funds were in reimbursement during the period:

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| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Fidelity Series Emerging Markets Fund** | .013% | 210814 |
| **Fidelity Series Emerging Markets Opportunities Fund** | .013% | 741678 |

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Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.

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| | |
|:---|:---|
|  | **Custodian credits ($)** |
| **Fidelity Series Emerging Markets Fund**  | 5811 |
| **Fidelity Series Emerging Markets Opportunities Fund**  | 1317 |
| **Fidelity Series International Growth Fund**  | 130 |

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**10. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Funds.

**11. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the consolidated financial statements for each Fund as part of Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131265_4.jpg)<br>

1.907946.116 GSV-S-SANN-0626

**Fidelity® Series Overseas Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131263_1.jpg)

![](img131263_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_SOV-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Overseas Fund](#Sub_Sec_Fund_3468_SOV-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3468_SOV-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SOV-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SOV-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SOV-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SOV-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Overseas Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.0%** | &nbsp;&nbsp;**Common Stocks - 99.0%** | &nbsp;&nbsp;**Common Stocks - 99.0%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.9%  |  |  |
| Materials - 1.9% |  |  |
| Metals & Mining - 1.9% |  |  |
| Rio Tinto PLC  | 3245500 | 326940568 |
| BELGIUM - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| KBC Group NV  | 1741565 | 231481615 |
| CANADA - 1.1%  |  |  |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Celestica Inc (United States) (a) | 146300 | 59923017 |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(c) | 105870 | 8 |
| TOTAL INFORMATION TECHNOLOGY |  | 59923025 |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| Franco-Nevada Corp  | 544900 | 125711902 |
| TOTAL CANADA |  | 185634927 |
| CHINA - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 1382300 | 88803112 |
| DENMARK - 1.6%  |  |  |
| Industrials - 1.6% |  |  |
| Air Freight & Logistics - 1.6% |  |  |
| DSV A/S  | 1175400 | 287705001 |
| FINLAND - 0.6%  |  |  |
| Information Technology - 0.6% |  |  |
| Communications Equipment - 0.6% |  |  |
| Nokia Oyj ADR  | 8142500 | 105119675 |
| FRANCE - 7.6%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Orange SA  | 5137600 | 106976913 |
| Consumer Staples - 1.1% |  |  |
| Food Products - 1.1% |  |  |
| Danone SA  | 2385813 | 186923800 |
| Industrials - 3.7% |  |  |
| Aerospace & Defense - 2.3% |  |  |
| Safran SA  | 1254700 | 402900254 |
| Electrical Equipment - 1.4% |  |  |
| Legrand SA  | 1367000 | 244916680 |
| TOTAL INDUSTRIALS |  | 647816934 |
| Materials - 2.3% |  |  |
| Chemicals - 2.3% |  |  |
| Air Liquide SA  | 1841826 | 396251203 |
| TOTAL FRANCE |  | 1337968850 |
| GERMANY - 8.1%  |  |  |
| Financials - 3.5% |  |  |
| Insurance - 3.5% |  |  |
| Allianz SE  | 925033 | 422492650 |
| Hannover Rueck SE  | 638984 | 193185465 |
| TOTAL FINANCIALS |  | 615678115 |
| Health Care - 0.4% |  |  |
| Health Care Providers & Services - 0.4% |  |  |
| Fresenius SE & Co KGaA  | 1832100 | 88727889 |
| Industrials - 3.0% |  |  |
| Aerospace & Defense - 0.9% |  |  |
| Rheinmetall AG  | 104657 | 166533847 |
| Electrical Equipment - 2.1% |  |  |
| Siemens Energy AG  | 1663100 | 352473619 |
| TOTAL INDUSTRIALS |  | 519007466 |
| Materials - 1.2% |  |  |
| Construction Materials - 1.2% |  |  |
| Heidelberg Materials AG  | 935900 | 206500036 |
| TOTAL GERMANY |  | 1429913506 |
| HONG KONG - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Insurance - 1.3% |  |  |
| AIA Group Ltd  | 20139998 | 221112401 |
| IRELAND - 1.2%  |  |  |
| Industrials - 1.2% |  |  |
| Building Products - 1.2% |  |  |
| Kingspan Group PLC  | 2202700 | 203325891 |
| ITALY - 4.2%  |  |  |
| Financials - 3.5% |  |  |
| Banks - 3.5% |  |  |
| FinecoBank Banca Fineco SpA  | 7790885 | 192750718 |
| Intesa Sanpaolo SpA  | 42168500 | 286502593 |
| UniCredit SpA  | 1860567 | 143789057 |
| TOTAL FINANCIALS |  | 623042368 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 1646339 | 95915687 |
| Industrials - 0.2% |  |  |
| Machinery - 0.2% |  |  |
| Interpump Group SpA  | 663700 | 27870885 |
| TOTAL ITALY |  | 746828940 |
| JAPAN - 20.1%  |  |  |
| Communication Services - 0.3% |  |  |
| Entertainment - 0.3% |  |  |
| Capcom Co Ltd  | 1202100 | 25380676 |
| Nintendo Co Ltd  | 849843 | 41573379 |
| TOTAL COMMUNICATION SERVICES |  | 66954055 |
| Consumer Discretionary - 1.4% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Food & Life Cos Ltd  | 1118100 | 65041030 |
| Household Durables - 1.1% |  |  |
| Panasonic Holdings Corp  | 9110900 | 186370840 |
| TOTAL CONSUMER DISCRETIONARY |  | 251411870 |
| Consumer Staples - 1.9% |  |  |
| Food Products - 1.9% |  |  |
| Ajinomoto Co Inc  | 10371235 | 333335847 |
| Financials - 4.5% |  |  |
| Banks - 3.3% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 19302300 | 346724138 |
| Mizuho Financial Group Inc  | 5364900 | 230705265 |
|  |  | 577429403 |
| Insurance - 1.2% |  |  |
| Tokio Marine Holdings Inc  | 4553639 | 208541961 |
| TOTAL FINANCIALS |  | 785971364 |
| Health Care - 2.9% |  |  |
| Health Care Equipment & Supplies - 2.2% |  |  |
| Hoya Corp  | 1992860 | 372154252 |
| Pharmaceuticals - 0.7% |  |  |
| Takeda Pharmaceutical Co Ltd  | 3922900 | 131153512 |
| TOTAL HEALTH CARE |  | 503307764 |
| Industrials - 6.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Fujikura Ltd  | 1728100 | 66675282 |
| Furukawa Electric Co Ltd  | 64900 | 17625988 |
|  |  | 84301270 |
| Industrial Conglomerates - 2.2% |  |  |
| Hitachi Ltd  | 12326900 | 391975069 |
| Machinery - 3.8% |  |  |
| Daifuku Co Ltd  | 1169100 | 51114993 |
| Ebara Corp  | 4439100 | 151852339 |
| Kawasaki Heavy Industries Ltd  | 7810400 | 160569426 |
| Mitsubishi Heavy Industries Ltd  | 10054991 | 300100238 |
|  |  | 663636996 |
| TOTAL INDUSTRIALS |  | 1139913335 |
| Information Technology - 2.6% |  |  |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| Advantest Corp  | 1001100 | 186923961 |
| Disco Corp  | 247800 | 117898902 |
| Renesas Electronics Corp  | 7130400 | 144195568 |
|  |  | 449018431 |
| Technology Hardware, Storage & Peripherals - 0.0% |  |  |
| FUJIFILM Holdings Corp  | 570400 | 10497436 |
| TOTAL INFORMATION TECHNOLOGY |  | 459515867 |
| TOTAL JAPAN |  | 3540410102 |
| NETHERLANDS - 6.1%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Magnum Ice Cream Co NV/The  | 1982700 | 28947829 |
| Information Technology - 5.9% |  |  |
| Semiconductors & Semiconductor Equipment - 5.9% |  |  |
| ASM International NV  | 290927 | 283605442 |
| ASML Holding NV  | 521866 | 754381456 |
| TOTAL INFORMATION TECHNOLOGY |  | 1037986898 |
| TOTAL NETHERLANDS |  | 1066934727 |
| PHILIPPINES - 0.0%  |  |  |
| Industrials - 0.0% |  |  |
| Transportation Infrastructure - 0.0% |  |  |
| International Container Terminal Services Inc  | 599350 | 6962574 |
| SPAIN - 7.6%  |  |  |
| Financials - 5.2% |  |  |
| Banks - 5.2% |  |  |
| Banco Santander SA  | 41763236 | 508780081 |
| CaixaBank SA  | 31594100 | 402140904 |
| TOTAL FINANCIALS |  | 910920985 |
| Utilities - 2.4% |  |  |
| Electric Utilities - 2.4% |  |  |
| Iberdrola SA  | 18053494 | 423250254 |
| TOTAL SPAIN |  | 1334171239 |
| SWEDEN - 2.1%  |  |  |
| Industrials - 2.1% |  |  |
| Building Products - 1.4% |  |  |
| Assa Abloy AB B Shares  | 6392700 | 243307225 |
| Machinery - 0.7% |  |  |
| Indutrade AB  | 6078877 | 129837215 |
| TOTAL INDUSTRIALS |  | 373144440 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Kry International Ab (a)(b)(c) | 206997 | 1647147 |
| TOTAL SWEDEN |  | 374791587 |
| SWITZERLAND - 2.0%  |  |  |
| Financials - 1.6% |  |  |
| Insurance - 1.6% |  |  |
| Zurich Insurance Group AG  | 390246 | 272087431 |
| Health Care - 0.4% |  |  |
| Pharmaceuticals - 0.4% |  |  |
| Galderma Group AG  | 349871 | 73400637 |
| TOTAL SWITZERLAND |  | 345488068 |
| TAIWAN - 2.6%  |  |  |
| Information Technology - 2.6% |  |  |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 6620684 | 461082763 |
| UNITED KINGDOM - 16.3%  |  |  |
| Consumer Discretionary - 1.1% |  |  |
| Hotels, Restaurants & Leisure - 1.1% |  |  |
| Compass Group PLC  | 7047687 | 199097158 |
| Consumer Staples - 1.8% |  |  |
| Tobacco - 1.8% |  |  |
| British American Tobacco PLC  | 5342000 | 314616183 |
| Financials - 2.4% |  |  |
| Banks - 2.2% |  |  |
| NatWest Group PLC  | 47475041 | 378655089 |
| Capital Markets - 0.2% |  |  |
| 3i Group PLC  | 1277791 | 44438707 |
| TOTAL FINANCIALS |  | 423093796 |
| Health Care - 3.3% |  |  |
| Pharmaceuticals - 3.3% |  |  |
| Astrazeneca PLC  | 1838824 | 349004032 |
| GSK PLC  | 8636000 | 226414113 |
| TOTAL HEALTH CARE |  | 575418145 |
| Industrials - 5.1% |  |  |
| Aerospace & Defense - 4.0% |  |  |
| BAE Systems PLC  | 9185855 | 255491334 |
| Rolls-Royce Holdings PLC  | 27879600 | 448626260 |
|  |  | 704117594 |
| Trading Companies & Distributors - 1.1% |  |  |
| Diploma PLC  | 1999070 | 188784274 |
| TOTAL INDUSTRIALS |  | 892901868 |
| Information Technology - 1.5% |  |  |
| Electronic Equipment, Instruments & Components - 1.5% |  |  |
| Halma PLC  | 4537096 | 272081718 |
| Utilities - 1.1% |  |  |
| Electric Utilities - 1.1% |  |  |
| SSE PLC  | 5258600 | 188280939 |
| TOTAL UNITED KINGDOM |  | 2865489807 |
| UNITED STATES - 12.8%  |  |  |
| Consumer Discretionary - 1.3% |  |  |
| Hotels, Restaurants & Leisure - 1.3% |  |  |
| InterContinental Hotels Group PLC  | 1702541 | 243633617 |
| Energy - 1.8% |  |  |
| Oil, Gas & Consumable Fuels - 1.8% |  |  |
| Shell PLC  | 6963087 | 316589330 |
| Health Care - 2.7% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| Alcon AG  | 973998 | 72574600 |
| Pharmaceuticals - 2.3% |  |  |
| Roche Holding AG  | 977785 | 398447231 |
| TOTAL HEALTH CARE |  | 471021831 |
| Industrials - 4.1% |  |  |
| Commercial Services & Supplies - 1.2% |  |  |
| Waste Connections Inc  | 1230000 | 202616999 |
| Electrical Equipment - 2.9% |  |  |
| Schneider Electric SE  | 1620531 | 515667260 |
| TOTAL INDUSTRIALS |  | 718284259 |
| Materials - 2.9% |  |  |
| Construction Materials - 2.9% |  |  |
| CRH PLC  | 2342700 | 277422534 |
| Holcim AG  | 2451320 | 227792413 |
| TOTAL MATERIALS |  | 505214947 |
| TOTAL UNITED STATES |  | 2254743984 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $12,801,176,065) |  | <br> **17414909337** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.2%** | &nbsp;&nbsp;**Money Market Funds - 1.2%** | &nbsp;&nbsp;**Money Market Funds - 1.2%** | &nbsp;&nbsp;**Money Market Funds - 1.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $206,225,122)<br>| 3.69 | 206183886 | **206225122** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.2%**<br> (Cost $13,007,401,187)<br>| <br>**17621134459** |
| **NET OTHER ASSETS (LIABILITIES) - (0.2)%**  | **(30900496)** |
| **NET ASSETS - 100.0%** | **17590233963** |

---

**Legend**

(a) Non-income producing.

(b) 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 $1,647,147 or 0.0% 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.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Kry International Ab | 5/14/2021 - 10/30/2024 | 13688300 |

---

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 250184713 | 3183375049 | 3227323104 | 7644681 | (11536) | - | 206225122 | 206183886 | 0.3% |
| Fidelity Securities Lending Cash Central Fund | - | 580277841 | 580267862 | 115489 | (9979) | - | - | - | 0.0% |
| Total | 250184713 | 3763652890 | 3807590966 | 7760170 | (21515) | - | 206225122 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 173930968 | - | 173930968 | - |
| Consumer Discretionary | 694142645 | 442730775 | 251411870 | - |
| Consumer Staples | 863823659 | 28947829 | 834875830 | - |
| Energy | 316589330 | - | 316589330 | - |
| Financials | 4083388075 | 1126197879 | 2957190196 | - |
| Health Care | 1807791953 | 915941550 | 891850403 | - |
| Industrials | 4905735765 | 1802454956 | 3103280809 | - |
| Information Technology | 2397357093 | 720729852 | 1674980086 | 1647155 |
| Materials | 1560618656 | 403134436 | 1157484220 | - |
| Utilities | 611531193 | - | 611531193 | - |
|  **Money Market Funds** | 206225122 | 206225122 | - | - |
| **Total Investments in Securities:** | 17621134459 | 5646362399 | 11973124905 | 1647155 |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $12,801,176,065) | $17414909337 |  |
| Fidelity Central Funds (cost $206,225,122) | 206225122 |  |
| Total Investment in Securities (cost $13,007,401,187) |  | $17621134459 |
| Cash |  | 36040 |
| Foreign currency held at value (cost $5,929,407) |  | 5929081 |
| Receivable for investments sold |  | 174238331 |
| Receivable for fund shares sold |  | 52149782 |
| Dividends receivable |  | 56694880 |
| Reclaims receivable |  | 66528485 |
| Distributions receivable from Fidelity Central Funds |  | 1066062 |
| Other receivables |  | 111744 |
| **Total assets** |  | 17977888864 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $85056317 |  |
| Payable for fund shares redeemed | 302492841 |  |
| Other payables and accrued expenses | 105743 |  |
| **Total liabilities** |  | 387654901 |
| **Net Assets**  |  | $17590233963 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $12307812944 |
| Total accumulated earnings (loss) |  | 5282421019 |
| **Net Assets** |  | $17590233963 |
| **Net Asset Value**, offering price and redemption price per share ($17,590,233,963 ÷ 1,132,695,814 shares) |  | $15.53 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $170840816 |
| Foreign Tax Reclaims |  | 14250278 |
| Income from Fidelity Central Funds (including $115,489 from security lending)  |  | 7760170 |
| Security lending |  | 20512 |
| Income before foreign taxes withheld |  | $192871776 |
| Less foreign taxes withheld |  | (22227762) |
| **Total income** |  | 170644014 |
| **Expenses** |  |  |
| Custodian fees and expenses | $511288 |  |
| Independent trustees' fees and expenses | 25469 |  |
| Total expenses before reductions | 536757 |  |
| Expense reductions | (554) |  |
| Total expenses after reductions |  | 536203 |
| **Net Investment income (loss)** |  | 170107811 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $12,652,320)  | 626454600 |  |
| Redemptions in-kind | 81269751 |  |
| Fidelity Central Funds | (21515) |  |
| Foreign currency transactions | 1449951 |  |
| Total net realized gain (loss) |  | 709152787 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $14,411,142)  | (178881723) |  |
| Assets and liabilities in foreign currencies | 2422601 |  |
| Total change in net unrealized appreciation (depreciation) |  | (176459122) |
| **Net gain (loss)** |  | 532693665 |
| **Net increase (decrease) in net assets resulting from operations** |  | $702801476 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $170107811 | $277883893 |
| &nbsp;&nbsp;Net realized gain (loss) | 709152787<br>| 1399025091<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (176459122) | 868920894<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 702801476<br>| 2545829878<br>|
| Distributions to shareholders | (1352912021)<br>| (312065833)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 2186631287 | 2126069295 |
| Reinvestment of distributions | 1352912021<br>| 312065833<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (1361847296) | (3520378629) |
| **Net increase (decrease) in net assets resulting from share transactions** | 2177696012<br>| (1082243501)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1527585467<br>| 1151520544<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 16062648496 | 14911127952<br>|
| &nbsp;&nbsp;End of period | $17590233963 | $16062648496 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 144136559 | 141113190 |
| Issued in reinvestment of distributions | 91785076<br>| 22434639<br>|
| &nbsp;&nbsp;Redeemed | (87688082) | (240235691) |
| &nbsp;&nbsp;Net increase (decrease) | 148233553 | (76687862) |

---

**Financial Highlights** 

**Fidelity® Series Overseas Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $16.32 | $14.05 | $11.32 | $10.10 | $14.58 | $10.62 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .28  | .25  | .22  | .21  | .17  |
| Net realized and unrealized gain (loss)  | .42  | 2.29  | 2.69  | 1.20  | (4.27)  | 3.93  |
| Total from investment operations  | .58  | 2.57  | 2.94  | 1.42  | (4.06)  | 4.10  |
| Distributions from net investment income  | (.38)  | (.30)  | (.21)  | (.20)  | (.17)  | (.14)  |
| Distributions from net realized gain  | (.99)  | -  | -  | -  | (.25)  | -  |
| Total distributions  | (1.37)  | (.30)  | (.21)  | (.20)  | (.42)  | (.14)  |
| Net asset value, end of period  | $15.53 | $16.32 | $14.05 | $11.32 | $10.10 | $14.58 |
| **Total Return** C,D | 3.98% <br>| 18.69%  | 26.24%  | 14.05%  | (28.66)%  | 38.89%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .01% G | .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of fee waivers, if any  | .01% G<br>| .01%  | .01%  | .01%  | .01%  | .01%  |
| Expenses net of all reductions, if any  | .01% G | .01%  | .01%  | .01%  | .01%  | .01%  |
| Net investment income (loss)  | 2.05% G | 1.84%  | 1.79%  | 1.90%  | 1.79%  | 1.29%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $17590234 | $16062648 | $14911128 | $12844900 | $12317244 | $15419200 |
| Portfolio turnover rate H | 80% G,I<br>| 49% I | 36% I | 38% I | 28% I | 33%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Annualized.*

H*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

I*Portfolio turnover rate excludes securities received or delivered in-kind.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Series Overseas Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign tax reclaims. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable. The Fund has filed tax reclaims for previously withheld taxes on dividends earned in certain European Union (EU) countries. These additional filings are subject to various administrative proceedings by the local jurisdictions' tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for EU reclaims is included with other reclaims in the Statement of Operations in foreign tax reclaims. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), redemptions in-kind, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $4847255583 |
| **Gross unrealized depreciation** | <u>(309727466)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$4537528117</u> |
| **Tax cost** | <u>$13083606342</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Series Overseas Fund** | 7999618708 | 6547800348 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Deferred Trustee Compensation.** Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.

---

| | |
|:---|:---|
| **Fidelity Series Overseas Fund** | $25892 |

---

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Overseas Fund** | 429 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Series Overseas Fund** | 839048344 | 254997214 | 12794098 |

---

**Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The total net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Affiliated Issuers ($)** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series Overseas Fund** | 14155044 | - | 81269751 | 81269751 | 219631857 |

---

**Prior Fiscal Year Affiliated Redemptions In-Kind.** Affiliated shareholders that redeemed shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Shares** | **Net realized gain or loss on Affiliated Issuers ($)** | **Net realized gain or loss on Unaffiliated Issuers ($)** | **Total net realized gain or loss on Investments ($)** | **Total Proceeds ($)** |
| **Fidelity Series Overseas Fund** | 36987633 | - | 201637121 | 201637121 | 538266355 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Overseas Fund** | 66829 |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**7. Security Lending.**

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Series Overseas Fund** | 14479 | - | - |

---

**8. Expense Reductions.**

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $554.

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131263_4.jpg)<br>

1.9894004.106 SOV-SANN-0626

**Fidelity® SAI Sustainable Emerging Markets Equity Fund**

**Semi-Annual Report**

**April 30, 2026**

Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

![](img131308_1.jpg)

![](img131308_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ESP-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® SAI Sustainable Emerging Markets Equity Fund](#Sub_Sec_Fund_6548_ESP-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6548_ESP-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ESP-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ESP-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ESP-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ESP-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® SAI Sustainable Emerging Markets Equity Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 92.0%** | &nbsp;&nbsp;**Common Stocks - 92.0%** | &nbsp;&nbsp;**Common Stocks - 92.0%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.6%  |  |  |
| Materials - 1.6% |  |  |
| Metals & Mining - 1.6% |  |  |
| Anglogold Ashanti Plc  | 20651 | 1935618 |
| BRAZIL - 4.6%  |  |  |
| Consumer Discretionary - 0.9% |  |  |
| Household Durables - 0.2% |  |  |
| Cury Construtora e Incorporadora SA  | 47530 | 288531 |
| Specialty Retail - 0.7% |  |  |
| Vibra Energia SA  | 114413 | 769408 |
| TOTAL CONSUMER DISCRETIONARY |  | 1057939 |
| Consumer Staples - 0.3% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Raia Drogasil SA  | 96364 | 426961 |
| Financials - 1.4% |  |  |
| Banks - 0.9% |  |  |
| Itau Unibanco Holding SA  | 101314 | 883669 |
| NU Holdings Ltd/Cayman Islands Class A (a) | 11122 | 161047 |
|  |  | 1044716 |
| Capital Markets - 0.4% |  |  |
| Banco BTG Pactual SA unit  | 37357 | 447668 |
| Financial Services - 0.1% |  |  |
| StoneCo Ltd Class A  | 19259 | 211464 |
| TOTAL FINANCIALS |  | 1703848 |
| Industrials - 0.6% |  |  |
| Ground Transportation - 0.6% |  |  |
| Localiza Rent a Car SA  | 77902 | 722259 |
| Utilities - 1.4% |  |  |
| Electric Utilities - 1.0% |  |  |
| Axia Energia SA  | 90186 | 1130103 |
| Water Utilities - 0.4% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 81115 | 543027 |
| TOTAL UTILITIES |  | 1673130 |
| TOTAL BRAZIL |  | 5584137 |
| CHILE - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Banco de Chile  | 931899 | 174695 |
| CHINA - 26.1%  |  |  |
| Communication Services - 4.1% |  |  |
| Entertainment - 0.4% |  |  |
| Netease Inc  | 6023 | 140993 |
| Netease Inc ADR  | 2814 | 330673 |
|  |  | 471666 |
| Interactive Media & Services - 3.7% |  |  |
| Baidu Inc A Shares (a) | 21550 | 340296 |
| Tencent Holdings Ltd  | 69068 | 4194657 |
|  |  | 4534953 |
| TOTAL COMMUNICATION SERVICES |  | 5006619 |
| Consumer Discretionary - 7.4% |  |  |
| Automobile Components - 0.4% |  |  |
| Ningbo Joyson Electronic Corp H Shares  | 201168 | 432248 |
| Automobiles - 1.2% |  |  |
| BYD Co Ltd H Shares  | 111135 | 1478336 |
| Broadline Retail - 3.2% |  |  |
| Alibaba Group Holding Ltd  | 205016 | 3378872 |
| Alibaba Group Holding Ltd ADR  | 1998 | 263496 |
| JD.com Inc A Shares  | 11537 | 174787 |
|  |  | 3817155 |
| Diversified Consumer Services - 0.3% |  |  |
| New Oriental Education & Technology Group Inc ADR  | 7639 | 417777 |
| Hotels, Restaurants & Leisure - 2.3% |  |  |
| H World Group Ltd ADR  | 26003 | 1342795 |
| Luckin Coffee Inc ADR (a) | 5358 | 187530 |
| Meituan B Shares (a)(b)(c) | 22581 | 242953 |
| Trip.com Group Ltd ADR (a) | 12284 | 665916 |
| Yum China Holdings Inc  | 7698 | 372968 |
|  |  | 2812162 |
| TOTAL CONSUMER DISCRETIONARY |  | 8957678 |
| Consumer Staples - 0.7% |  |  |
| Beverages - 0.6% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 7800 | 233065 |
| Kweichow Moutai Co Ltd A Shares (China)  | 2252 | 456828 |
|  |  | 689893 |
| Personal Care Products - 0.1% |  |  |
| Mao Geping Cosmetics Co LTD H Shares  | 21641 | 199844 |
| TOTAL CONSUMER STAPLES |  | 889737 |
| Financials - 5.3% |  |  |
| Banks - 2.7% |  |  |
| China Construction Bank Corp H Shares  | 2304141 | 2600915 |
| China Merchants Bank Co Ltd H Shares  | 25608 | 154993 |
| Industrial & Commercial Bank of China Ltd H Shares  | 475527 | 428426 |
|  |  | 3184334 |
| Insurance - 2.6% |  |  |
| China Life Insurance Co Ltd H Shares  | 155387 | 573231 |
| China Pacific Insurance Group Co Ltd H Shares  | 64083 | 279746 |
| People's Insurance Co Group of China Ltd/The H Shares  | 151274 | 103504 |
| PICC Property & Casualty Co Ltd H Shares  | 376315 | 679761 |
| Ping An Insurance Group Co of China Ltd H Shares  | 186402 | 1515095 |
|  |  | 3151337 |
| TOTAL FINANCIALS |  | 6335671 |
| Health Care - 2.3% |  |  |
| Biotechnology - 0.6% |  |  |
| Innovent Biologics Inc (a)(b)(c) | 24047 | 280807 |
| Zai Lab Ltd ADR (a) | 22330 | 483221 |
|  |  | 764028 |
| Life Sciences Tools & Services - 0.9% |  |  |
| Wuxi Apptec Co Ltd H Shares (b)(c) | 64524 | 1133552 |
| Pharmaceuticals - 0.8% |  |  |
| Consun Pharmaceutical Group Ltd  | 207672 | 430328 |
| Hansoh Pharmaceutical Group Co Ltd (b)(c) | 103824 | 497283 |
|  |  | 927611 |
| TOTAL HEALTH CARE |  | 2825191 |
| Industrials - 3.5% |  |  |
| Electrical Equipment - 1.5% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 17665 | 1134853 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 22599 | 500688 |
| Sieyuan Electric Co Ltd A Shares (China)  | 9600 | 275138 |
|  |  | 1910679 |
| Machinery - 2.0% |  |  |
| Airtac International Group  | 13481 | 631430 |
| Huaming Power Equipment Co Ltd A Shares (China)  | 113614 | 409346 |
| UBTech Robotics Corp Ltd H Shares (a) | 11507 | 157761 |
| Weichai Power Co Ltd H Shares  | 243453 | 1210178 |
|  |  | 2408715 |
| TOTAL INDUSTRIALS |  | 4319394 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 600 | 24614 |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 6647 | 245349 |
| Montage Technology Co Ltd A Shares (China)  | 26723 | 686802 |
|  |  | 932151 |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Xiaomi Corp B Shares (a)(b)(c) | 96352 | 361532 |
| TOTAL INFORMATION TECHNOLOGY |  | 1318297 |
| Materials - 1.5% |  |  |
| Metals & Mining - 1.5% |  |  |
| MMG Ltd (a) | 647139 | 698189 |
| Zijin Mining Group Co Ltd H Shares  | 242118 | 1124397 |
| TOTAL MATERIALS |  | 1822586 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| China Resources Mixc Lifestyle Services Ltd (b)(c) | 45439 | 274432 |
| TOTAL CHINA |  | 31749605 |
| GREECE - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Eurobank SA  | 91910 | 396962 |
| National Bank of Greece SA  | 49362 | 777760 |
| TOTAL GREECE |  | 1174722 |
| HUNGARY - 1.0%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| OTP Bank Nyrt  | 7947 | 1065430 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Richter Gedeon Nyrt  | 2870 | 120889 |
| TOTAL HUNGARY |  | 1186319 |
| INDIA - 5.9%  |  |  |
| Communication Services - 0.9% |  |  |
| Wireless Telecommunication Services - 0.9% |  |  |
| Bharti Airtel Ltd  | 52343 | 1046374 |
| Consumer Discretionary - 0.2% |  |  |
| Automobiles - 0.1% |  |  |
| Mahindra & Mahindra Ltd  | 4367 | 143231 |
| Broadline Retail - 0.1% |  |  |
| Meesho  | 58592 | 120149 |
| TOTAL CONSUMER DISCRETIONARY |  | 263380 |
| Energy - 0.8% |  |  |
| Oil, Gas & Consumable Fuels - 0.8% |  |  |
| Reliance Industries Ltd  | 67203 | 1019268 |
| Financials - 3.2% |  |  |
| Banks - 2.8% |  |  |
| Axis Bank Ltd  | 25173 | 337648 |
| HDFC Bank Ltd  | 159802 | 1307085 |
| HDFC Bank Ltd ADR  | 9074 | 230570 |
| ICICI Bank Ltd  | 79729 | 1069873 |
| State Bank of India  | 44002 | 497726 |
|  |  | 3442902 |
| Capital Markets - 0.1% |  |  |
| HDFC Asset Management Co Ltd (b)(c) | 4181 | 119971 |
| Consumer Finance - 0.3% |  |  |
| Bajaj Finance Ltd  | 32655 | 324363 |
| TOTAL FINANCIALS |  | 3887236 |
| Industrials - 0.6% |  |  |
| Construction & Engineering - 0.6% |  |  |
| Larsen & Toubro Ltd  | 17175 | 729620 |
| Information Technology - 0.2% |  |  |
| IT Services - 0.2% |  |  |
| Tata Consultancy Services Ltd  | 9011 | 236479 |
| TOTAL INDIA |  | 7182357 |
| INDONESIA - 0.2%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Telkom Indonesia Persero Tbk PT  | 822516 | 134549 |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Bank Central Asia Tbk PT  | 433903 | 147111 |
| TOTAL INDONESIA |  | 281660 |
| KOREA (SOUTH) - 16.1%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| KT Corp  | 4553 | 188783 |
| Entertainment - 0.3% |  |  |
| HYBE Co Ltd  | 2081 | 375274 |
| TOTAL COMMUNICATION SERVICES |  | 564057 |
| Consumer Discretionary - 0.9% |  |  |
| Automobiles - 0.9% |  |  |
| Hyundai Motor Co  | 1514 | 552287 |
| Kia Corp  | 5261 | 546112 |
| TOTAL CONSUMER DISCRETIONARY |  | 1098399 |
| Consumer Staples - 0.2% |  |  |
| Personal Care Products - 0.2% |  |  |
| APR Corp/Korea  | 1313 | 379440 |
| Financials - 1.5% |  |  |
| Banks - 1.5% |  |  |
| KB Financial Group Inc  | 6393 | 704560 |
| Shinhan Financial Group Co Ltd  | 10773 | 736277 |
| Woori Financial Group Inc  | 15606 | 358166 |
| TOTAL FINANCIALS |  | 1799003 |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| Samsung Biologics Co Ltd (a)(b)(c) | 424 | 425458 |
| Industrials - 1.3% |  |  |
| Electrical Equipment - 1.0% |  |  |
| LS Electric Co Ltd  | 6251 | 1208186 |
| Machinery - 0.3% |  |  |
| Samsung Heavy Industries Co Ltd (a) | 14682 | 325470 |
| TOTAL INDUSTRIALS |  | 1533656 |
| Information Technology - 11.4% |  |  |
| Semiconductors & Semiconductor Equipment - 4.6% |  |  |
| SK Hynix Inc  | 6230 | 5591381 |
| Technology Hardware, Storage & Peripherals - 6.8% |  |  |
| Samsung Electronics Co Ltd  | 54723 | 8293508 |
| TOTAL INFORMATION TECHNOLOGY |  | 13884889 |
| TOTAL KOREA (SOUTH) |  | 19684902 |
| MALAYSIA - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| CIMB Group Holdings Bhd  | 55377 | 106985 |
| MEXICO - 2.2%  |  |  |
| Consumer Staples - 0.1% |  |  |
| Beverages - 0.1% |  |  |
| Fomento Economico Mexicano SAB de CV ADR  | 1342 | 158678 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Grupo Financiero Banorte SAB de CV  | 77824 | 845045 |
| Regional SAB de CV  | 18465 | 155597 |
| TOTAL FINANCIALS |  | 1000642 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Genomma Lab Internacional SAB de CV  | 237686 | 224236 |
| Industrials - 0.3% |  |  |
| Transportation Infrastructure - 0.3% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Series B  | 25792 | 342294 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Cemex SAB de CV ADR  | 35910 | 441693 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Corp Inmobiliaria Vesta SAB de CV ADR  | 14899 | 530404 |
| TOTAL MEXICO |  | 2697947 |
| PERU - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Credicorp Ltd  | 1939 | 628566 |
| PHILIPPINES - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Transportation Infrastructure - 0.7% |  |  |
| International Container Terminal Services Inc  | 73230 | 850704 |
| POLAND - 0.8%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 21604 | 564060 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Benefit Systems SA (a) | 417 | 460163 |
| TOTAL POLAND |  | 1024223 |
| SAUDI ARABIA - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Al Rajhi Bank  | 43206 | 789701 |
| Saudi National Bank/The  | 62994 | 659753 |
| TOTAL SAUDI ARABIA |  | 1449454 |
| SINGAPORE - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.2% |  |  |
| Sea Ltd Class A ADR (a) | 3313 | 281207 |
| SOUTH AFRICA - 2.9%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Broadline Retail - 0.7% |  |  |
| Naspers Ltd Class N  | 16786 | 908961 |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| Shoprite Holdings Ltd  | 31323 | 527945 |
| Financials - 1.2% |  |  |
| Banks - 0.9% |  |  |
| Capitec Bank Holdings Ltd  | 2424 | 629400 |
| Standard Bank Group Ltd  | 16869 | 324559 |
|  |  | 953959 |
| Financial Services - 0.3% |  |  |
| FirstRand Ltd  | 77106 | 408408 |
| TOTAL FINANCIALS |  | 1362367 |
| Materials - 0.6% |  |  |
| Chemicals - 0.6% |  |  |
| Sasol Ltd (a) | 49693 | 690710 |
| TOTAL SOUTH AFRICA |  | 3489983 |
| TAIWAN - 24.2%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| E.Sun Financial Holding Co Ltd  | 158222 | 160156 |
| Industrials - 1.5% |  |  |
| Electrical Equipment - 1.5% |  |  |
| Bizlink Holding Inc  | 20848 | 1877964 |
| Information Technology - 22.6% |  |  |
| Communications Equipment - 0.3% |  |  |
| Accton Technology Corp  | 5057 | 371536 |
| Electronic Equipment, Instruments & Components - 4.8% |  |  |
| Chroma ATE Inc  | 7613 | 521854 |
| Delta Electronics Inc  | 48704 | 3426258 |
| Elite Material Co Ltd  | 9518 | 1422739 |
| Hon Hai Precision Industry Co Ltd  | 31600 | 223965 |
| Yageo Corp  | 26497 | 271015 |
|  |  | 5865831 |
| Semiconductors & Semiconductor Equipment - 17.5% |  |  |
| ASE Technology Holding Co Ltd  | 106553 | 1675496 |
| eMemory Technology Inc  | 1706 | 216740 |
| MediaTek Inc  | 22058 | 1847298 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 251562 | 17519475 |
|  |  | 21259009 |
| TOTAL INFORMATION TECHNOLOGY |  | 27496376 |
| TOTAL TAIWAN |  | 29534496 |
| THAILAND - 0.7%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Kasikornbank PCL  | 80305 | 482489 |
| Health Care - 0.1% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Bumrungrad Hospital Pcl  | 24295 | 134829 |
| Industrials - 0.2% |  |  |
| Transportation Infrastructure - 0.2% |  |  |
| Airports of Thailand PCL  | 144322 | 228472 |
| TOTAL THAILAND |  | 845790 |
| TURKEY - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Aerospace & Defense - 0.7% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 92624 | 861468 |
| UNITED ARAB EMIRATES - 0.8%  |  |  |
| Energy - 0.1% |  |  |
| Energy Equipment & Services - 0.1% |  |  |
| ADNOC Drilling Co PJSC  | 132144 | 203625 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 73857 | 277484 |
| Real Estate - 0.5% |  |  |
| Real Estate Management & Development - 0.5% |  |  |
| Aldar Properties PJSC  | 96576 | 202717 |
| Emaar Properties PJSC  | 109789 | 352702 |
| TOTAL REAL ESTATE |  | 555419 |
| TOTAL UNITED ARAB EMIRATES |  | 1036528 |
| UNITED STATES - 0.4%  |  |  |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| BeOne Medicines Ltd H Shares (a) | 19000 | 431284 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $76,732,095) |  | <br> **112192650** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 2.6%** | &nbsp;&nbsp;**International Equity Funds - 2.6%** | &nbsp;&nbsp;**International Equity Funds - 2.6%** |
|  | Shares | Value ($)<br>|
| iShares ESG Aware MSCI EM ETF <br>(Cost $3,019,176)<br>| 62693 | **3206120** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.1%** | &nbsp;&nbsp;**Money Market Funds - 5.1%** | &nbsp;&nbsp;**Money Market Funds - 5.1%** | &nbsp;&nbsp;**Money Market Funds - 5.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $6,211,714)<br>| 3.69 | 6210472 | **6211714** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.7%**<br> (Cost $85,962,985)<br>| <br>**121610484** |
| **NET OTHER ASSETS (LIABILITIES) - 0.3%**  | **364704** |
| **NET ASSETS - 100.0%** | **121975188** |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) Non-income producing.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $3,335,988 or 2.7% of net assets.

(c) 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 $3,335,988 or 2.7% of net assets.

(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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 3549496 | 24703707 | 22041548 | 60373 | 59 | - | 6211714 | 6210472 | 0.0% |
| Total | 3549496 | 24703707 | 22041548 | 60373 | 59 | - | 6211714 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 6751599 | 330673 | 6420926 | - |
| Consumer Discretionary | 12567564 | 4589628 | 7977936 | - |
| Consumer Staples | 2382761 | 1113584 | 1269177 | - |
| Energy | 1222893 | 203625 | 1019268 | - |
| Financials | 22319919 | 9631838 | 12688081 | - |
| Health Care | 4161887 | 828346 | 3333541 | - |
| Industrials | 11925994 | 2386184 | 9539810 | - |
| Information Technology | 42936041 | - | 42936041 | - |
| Materials | 4890607 | 2377311 | 2513296 | - |
| Real Estate | 1360255 | 1085823 | 274432 | - |
| Utilities | 1673130 | 1673130 | - | - |
|  **International Equity Funds** | 3206120 | 3206120 | - | - |
|  **Money Market Funds** | 6211714 | 6211714 | - | - |
| **Total Investments in Securities:** | 121610484 | 33637976 | 87972508 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $79,751,271) | $115398770 |  |
| Fidelity Central Funds (cost $6,211,714) | 6211714 |  |
| Total Investment in Securities (cost $85,962,985) |  | $121610484 |
| Cash |  | 23441 |
| Foreign currency held at value (cost $6,564) |  | 6564 |
| Receivable for investments sold |  | 1877327 |
| Receivable for fund shares sold |  | 227115 |
| Dividends receivable |  | 194882 |
| Distributions receivable from Fidelity Central Funds |  | 10099 |
| Prepaid expenses |  | 18 |
| Receivable from investment adviser for expense reductions |  | 1896 |
| Other receivables |  | 30856 |
| **Total assets** |  | 123982682 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $1860702 |  |
| Payable for fund shares redeemed | 27618 |  |
| Accrued management fee | 70262 |  |
| Other payables and accrued expenses | 48912 |  |
| **Total liabilities** |  | 2007494 |
| **Net Assets**  |  | $121975188 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $81730828 |
| Total accumulated earnings (loss) |  | 40244360 |
| **Net Assets** |  | $121975188 |
| **Net Asset Value**, offering price and redemption price per share ($121,975,188 ÷ 7,522,600 shares) |  | $16.21 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $968754 |
| Interest  |  | 242 |
| Income from Fidelity Central Funds  |  | 60373 |
| Income before foreign taxes withheld |  | $1029369 |
| Less foreign taxes withheld |  | (90405) |
| **Total income** |  | 938964 |
| **Expenses** |  |  |
| Management fee | $368215 |  |
| Custodian fees and expenses | 33758 |  |
| Independent trustees' fees and expenses | 139 |  |
| Registration fees | 24273 |  |
| Audit fees | 47623 |  |
| Legal | 57 |  |
| Miscellaneous | 114 |  |
| Total expenses before reductions | 474179 |  |
| Expense reductions | (7170) |  |
| Total expenses after reductions |  | 467009 |
| **Net Investment income (loss)** |  | 471955 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 5187414 |  |
| Fidelity Central Funds | 59 |  |
| Foreign currency transactions | (65926) |  |
| Futures contracts | 32624 |  |
| Total net realized gain (loss) |  | 5154171 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $184,816)  | 15882008 |  |
| Assets and liabilities in foreign currencies | 1570 |  |
| Futures contracts | (31371) |  |
| Total change in net unrealized appreciation (depreciation) |  | 15852207 |
| **Net gain (loss)** |  | 21006378 |
| **Net increase (decrease) in net assets resulting from operations** |  | $21478333 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $471955 | $765362 |
| &nbsp;&nbsp;Net realized gain (loss) | 5154171<br>| 1294716<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 15852207 | 17041720<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 21478333<br>| 19101798<br>|
| Distributions to shareholders | (2540349)<br>| (796210)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 34238829 | 51105507 |
| Reinvestment of distributions | 2155281<br>| 681926<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (19916359) | (22324169) |
| **Net increase (decrease) in net assets resulting from share transactions** | 16477751<br>| 29463264<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 35415735<br>| 47768852<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 86559453 | 38790601<br>|
| &nbsp;&nbsp;End of period | $121975188 | $86559453 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 2381787 | 4631437 |
| Issued in reinvestment of distributions | 164986<br>| 66400<br>|
| &nbsp;&nbsp;Redeemed | (1348669) | (2029443) |
| &nbsp;&nbsp;Net increase (decrease) | 1198104 | 2668394 |

---

**Financial Highlights** 

**Fidelity® SAI Sustainable Emerging Markets Equity Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $13.69 | $10.61 | $8.57 | $7.60 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .07  | .15  | .17  | .15  | .06  |
| Net realized and unrealized gain (loss)  | 2.83  | 3.12  | 1.97  | .90  | (2.46)  |
| Total from investment operations  | 2.90  | 3.27  | 2.14  | 1.05  | (2.40)  |
| Distributions from net investment income  | (.22)  | (.11)  | (.10)  | (.08)  | -  |
| Distributions from net realized gain  | (.16)  | (.08)  | -  | -  | -  |
| Total distributions  | (.38)  | (.19)  | (.10)  | (.08)  | -  |
| Net asset value, end of period  | $16.21 | $13.69 | $10.61 | $8.57 | $7.60 |
| **Total Return** D,E | 21.87% <br>| 31.42%  | 25.12%  | 13.74%  | (24.00)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | .96% H | 1.05%  | 1.58%  | 4.99%  | 6.38% H,I |
| Expenses net of fee waivers, if any  | .95% H<br>| .95%  | .95%  | .94%  | .96% H |
| Expenses net of all reductions, if any  | .95% H | .95%  | .95%  | .93%  | .96% H |
| Net investment income (loss)  | .96% H | 1.30%  | 1.67%  | 1.65%  | 1.27% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $121975 | $86559 | $38791 | $6257 | $1772 |
| Portfolio turnover rate J | 109% H<br>| 95%  | 103%  | 87%  | 74% H |

---

A*For the period April 14, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity SAI Sustainable Emerging Markets Equity Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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.

Exchange-Traded Funds (ETFs) are valued at their last 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 but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be 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 (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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets and Liabilities.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $37799736 |
| **Gross unrealized depreciation** | <u>(2634511)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$35165225</u> |
| **Tax cost** | <u>$86445259</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** The Fund's investment objectives allow for various types of derivative instruments, including futures 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.

Derivatives were used to increase returns and 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 objectives may not be achieved.

Derivatives were used to increase or decrease 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.<br>|

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

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 and amounts recognized in the Statement of Assets and Liabilities. 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 fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily. Subsequent payments from or to a fund are made or as needed depending on the fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.

Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity SAI Sustainable Emerging Markets Equity Fund** | 63165557 | 51967019 |

---

**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .748% of the Fund's average net assets.

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity SAI Sustainable Emerging Markets Equity Fund** | 6 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity SAI Sustainable Emerging Markets Equity Fund** | 844156 | 619343 | 6650 |

---

**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity SAI Sustainable Emerging Markets Equity Fund** | 59 |

---

**8. Expense Reductions.** 

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .95% of average net assets. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $6,988.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $182.

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131308_4.jpg)<br>

1.9905648.104 ESP-SANN-0626

**Fidelity® SAI International SMA Completion Fund**

**Semi-Annual Report**

**April 30, 2026**

Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

![](img131270_1.jpg)

![](img131270_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ISM-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® SAI International SMA Completion Fund](#Sub_Sec_Fund_3358_ISM-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3358_ISM-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ISM-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ISM-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ISM-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ISM-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® SAI International SMA Completion Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 89.4%** | &nbsp;&nbsp;**Common Stocks - 89.4%** | &nbsp;&nbsp;**Common Stocks - 89.4%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 2.2%  |  |  |
| Consumer Discretionary - 1.4% |  |  |
| Hotels, Restaurants & Leisure - 1.4% |  |  |
| Aristocrat Leisure Ltd  | 787200 | 27084003 |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Steadfast Group Ltd  | 1738885 | 5348520 |
| Suncorp Group Ltd  | 734196 | 9136616 |
| TOTAL FINANCIALS |  | 14485136 |
| TOTAL AUSTRALIA |  | 41569139 |
| BELGIUM - 2.9%  |  |  |
| Health Care - 2.9% |  |  |
| Pharmaceuticals - 2.9% |  |  |
| Financiere de Tubize SA  | 36400 | 8360472 |
| UCB SA (a) | 176281 | 47833476 |
| TOTAL BELGIUM |  | 56193948 |
| CANADA - 2.3%  |  |  |
| Consumer Discretionary - 2.3% |  |  |
| Broadline Retail - 2.3% |  |  |
| Dollarama Inc  | 346200 | 44245091 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(b) | 10836 | 1 |
| TOTAL CANADA |  | 44245092 |
| CHILE - 4.1%  |  |  |
| Materials - 4.1% |  |  |
| Metals & Mining - 4.1% |  |  |
| Antofagasta PLC  | 1632926 | 78870034 |
| CHINA - 1.9%  |  |  |
| Industrials - 1.9% |  |  |
| Machinery - 1.9% |  |  |
| Airtac International Group  | 790000 | 37002409 |
| FRANCE - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Capital Markets - 1.0% |  |  |
| Amundi SA (c)(d) | 201397 | 19429580 |
| GERMANY - 6.7%  |  |  |
| Financials - 1.7% |  |  |
| Insurance - 1.7% |  |  |
| Hannover Rueck SE  | 106663 | 32247663 |
| Health Care - 2.8% |  |  |
| Health Care Providers & Services - 2.8% |  |  |
| Fresenius SE & Co KGaA  | 1092483 | 52908526 |
| Materials - 2.2% |  |  |
| Construction Materials - 2.2% |  |  |
| Heidelberg Materials AG  | 192096 | 42384690 |
| TOTAL GERMANY |  | 127540879 |
| IRELAND - 3.7%  |  |  |
| Industrials - 3.7% |  |  |
| Building Products - 3.7% |  |  |
| Kingspan Group PLC  | 775475 | 71582215 |
| ITALY - 6.7%  |  |  |
| Consumer Staples - 4.0% |  |  |
| Beverages - 4.0% |  |  |
| Coca-Cola HBC AG  | 1313500 | 76498371 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| FinecoBank Banca Fineco SpA  | 1719402 | 42538938 |
| Industrials - 0.5% |  |  |
| Machinery - 0.5% |  |  |
| Interpump Group SpA  | 238800 | 10027975 |
| TOTAL ITALY |  | 129065284 |
| JAPAN - 28.1%  |  |  |
| Consumer Discretionary - 2.1% |  |  |
| Specialty Retail - 2.1% |  |  |
| Fast Retailing Co Ltd  | 86283 | 40617320 |
| Industrials - 17.2% |  |  |
| Electrical Equipment - 0.6% |  |  |
| Furukawa Electric Co Ltd  | 45700 | 12411520 |
| Machinery - 11.8% |  |  |
| Ebara Corp  | 1620036 | 55418048 |
| Japan Steel Works Ltd/The  | 240186 | 14677926 |
| Kawasaki Heavy Industries Ltd (e) | 2412735 | 49602002 |
| Mitsubishi Heavy Industries Ltd  | 3524770 | 105199927 |
|  |  | 224897903 |
| Trading Companies & Distributors - 4.8% |  |  |
| ITOCHU Corp  | 4703445 | 58290311 |
| Toyota Tsusho Corp  | 826900 | 32460623 |
|  |  | 90750934 |
| TOTAL INDUSTRIALS |  | 328060357 |
| Information Technology - 7.7% |  |  |
| Semiconductors & Semiconductor Equipment - 7.7% |  |  |
| Renesas Electronics Corp  | 5813730 | 117569014 |
| Rohm Co Ltd  | 1348200 | 29168253 |
| TOTAL INFORMATION TECHNOLOGY |  | 146737267 |
| Materials - 1.1% |  |  |
| Chemicals - 1.1% |  |  |
| Nissan Chemical Corp  | 485008 | 20971524 |
| TOTAL JAPAN |  | 536386468 |
| KOREA (SOUTH) - 12.2%  |  |  |
| Information Technology - 12.2% |  |  |
| Semiconductors & Semiconductor Equipment - 7.5% |  |  |
| SK Hynix Inc  | 158760 | 142485988 |
| Technology Hardware, Storage & Peripherals - 4.7% |  |  |
| Samsung Electronics Co Ltd  | 600120 | 90950777 |
| TOTAL KOREA (SOUTH) |  | 233436765 |
| NETHERLANDS - 1.2%  |  |  |
| Information Technology - 1.2% |  |  |
| Semiconductors & Semiconductor Equipment - 1.2% |  |  |
| BE Semiconductor Industries NV  | 78879 | 22884871 |
| POLAND - 0.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Broadline Retail - 0.3% |  |  |
| Allegro.eu SA (a)(c)(d) | 801100 | 6573803 |
| SPAIN - 7.0%  |  |  |
| Financials - 7.0% |  |  |
| Banks - 7.0% |  |  |
| CaixaBank SA  | 10468497 | 133246740 |
| SWEDEN - 5.2%  |  |  |
| Financials - 4.7% |  |  |
| Financial Services - 4.7% |  |  |
| Investor AB B Shares  | 2212178 | 89131647 |
| Industrials - 0.5% |  |  |
| Machinery - 0.5% |  |  |
| Indutrade AB  | 501479 | 10710965 |
| TOTAL SWEDEN |  | 99842612 |
| TAIWAN - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Bizlink Holding Inc  | 96000 | 8647572 |
| UNITED KINGDOM - 3.4%  |  |  |
| Consumer Discretionary - 0.9% |  |  |
| Leisure Products - 0.9% |  |  |
| Games Workshop Group PLC  | 61682 | 16358694 |
| Financials - 0.6% |  |  |
| Insurance - 0.6% |  |  |
| Admiral Group PLC  | 263800 | 12125866 |
| Health Care - 1.0% |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| Convatec Group PLC (c)(d) | 6363424 | 18249189 |
| Industrials - 0.9% |  |  |
| Trading Companies & Distributors - 0.9% |  |  |
| RS GROUP PLC  | 2167519 | 17755698 |
| TOTAL UNITED KINGDOM |  | 64489447 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,128,873,793) |  | <br> **1711006858** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.1%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.1%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.1%** |
|  | Shares | Value ($)<br>|
| GERMANY - 1.1%  |  |  |
| Health Care - 1.1% |  |  |
| Life Sciences Tools & Services - 1.1% |  |  |
| Sartorius AG <br>(Cost $25,099,452)<br>| 85500 | **21795385** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 10.6%** | &nbsp;&nbsp;**Money Market Funds - 10.6%** | &nbsp;&nbsp;**Money Market Funds - 10.6%** | &nbsp;&nbsp;**Money Market Funds - 10.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 187276711 | 187314166 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 15662834 | 15664400 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $202,978,566) |  |  | **202978566** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.1%**<br> (Cost $1,356,951,811)<br>| <br>**1935780809** |
| **NET OTHER ASSETS (LIABILITIES) - (1.1)%**  | **(20636183)** |
| **NET ASSETS - 100.0%** | **1915144626** |

---

**Legend**

(a) Non-income producing.

(b) Level 3 security.

(c) 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 $44,252,572 or 2.3% of net assets.

(d) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $44,252,572 or 2.3% of net assets.

(e) Security or a portion of the security is on loan at period end.

(f) 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.

(g) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 39427463 | 363413333 | 215528618 | 2294716 | 1988 | - | 187314166 | 187276711 | 0.3% |
| Fidelity Securities Lending Cash Central Fund | - | 43962568 | 28295818 | 14195 | (2350) | - | 15664400 | 15662834 | 0.0% |
| Total | 39427463 | 407375901 | 243824436 | 2308911 | (362) | - | 202978566 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Consumer Discretionary | 134878911 | 67177588 | 67701323 | - |
| Consumer Staples | 76498371 | 76498371 | - | - |
| Financials | 343205570 | 195473694 | 147731876 | - |
| Health Care | 127351663 | 56193948 | 71157715 | - |
| Industrials | 483787191 | 110076853 | 373710338 | - |
| Information Technology | 403058904 | 22884871 | 380174032 | 1 |
| Materials | 142226248 | 78870034 | 63356214 | - |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Health Care | 21795385 | 21795385 | - | - |
|  **Money Market Funds** | 202978566 | 202978566 | - | - |
| **Total Investments in Securities:** | 1935780809 | 831949310 | 1103831498 | 1 |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $14,918,168) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,153,973,245) | $1732802243 |  |
| Fidelity Central Funds (cost $202,978,566) | 202978566 |  |
| Total Investment in Securities (cost $1,356,951,811) |  | $1935780809 |
| Foreign currency held at value (cost $254,879) |  | 254502 |
| Receivable for investments sold |  | 7726928 |
| Receivable for fund shares sold |  | 2194795 |
| Dividends receivable |  | 3751750 |
| Reclaims receivable |  | 1449465 |
| Distributions receivable from Fidelity Central Funds |  | 581486 |
| Other receivables |  | 101047 |
| **Total assets** |  | 1951840782 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $19888595 |  |
| Payable for fund shares redeemed | 1140376 |  |
| Other payables and accrued expenses | 435 |  |
| Collateral on securities loaned | 15666750 |  |
| **Total liabilities** |  | 36696156 |
| **Net Assets**  |  | $1915144626 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1416597379 |
| Total accumulated earnings (loss) |  | 498547247 |
| **Net Assets** |  | $1915144626 |
| **Net Asset Value**, offering price and redemption price per share ($1,915,144,626 ÷ 111,586,002 shares) |  | $17.16 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $12682450 |
| Interest  |  | 2869 |
| Income from Fidelity Central Funds (including $14,195 from security lending)  |  | 2308911 |
| Income before foreign taxes withheld |  | $14994230 |
| Less foreign taxes withheld |  | (1354958) |
| **Total income** |  | 13639272 |
| **Expenses** |  |  |
| Independent trustees' fees and expenses | $2298 |  |
| Total expenses before reductions | 2298 |  |
| Expense reductions | (1) |  |
| Total expenses after reductions |  | 2297 |
| **Net Investment income (loss)** |  | 13636975 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 20549224 |  |
| Fidelity Central Funds | (362) |  |
| Foreign currency transactions | 398204 |  |
| Total net realized gain (loss) |  | 20947066 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 238670136 |  |
| Assets and liabilities in foreign currencies | 133388 |  |
| Total change in net unrealized appreciation (depreciation) |  | 238803524 |
| **Net gain (loss)** |  | 259750590 |
| **Net increase (decrease) in net assets resulting from operations** |  | $273387565 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $13636975 | $20342416 |
| &nbsp;&nbsp;Net realized gain (loss) | 20947066<br>| 2709750<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 238803524 | 221004615<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 273387565<br>| 244056781<br>|
| Distributions to shareholders | (28377962)<br>| (20520649)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 322516945 | 501932149 |
| Reinvestment of distributions | 7842522<br>| 5528019<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (63301248) | (136120783) |
| **Net increase (decrease) in net assets resulting from share transactions** | 267058219<br>| 371339385<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 512067822<br>| 594875517<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1403076804 | 808201287<br>|
| &nbsp;&nbsp;End of period | $1915144626 | $1403076804 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 20375192 | 38714330 |
| Issued in reinvestment of distributions | 533868<br>| 460669<br>|
| &nbsp;&nbsp;Redeemed | (4003065) | (10789376) |
| &nbsp;&nbsp;Net increase (decrease) | 16905995 | 28385623 |

---

**Financial Highlights** 

**Fidelity® SAI International SMA Completion Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $14.82 | $12.19 | $10.11 | $9.61 | $15.46 | $12.38 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .25  | .23  | .25  | .18  | .19  |
| Net realized and unrealized gain (loss)  | 2.50  | 2.68  | 2.07  | .39  | (5.16)  | 3.01  |
| Total from investment operations  | 2.63  | 2.93  | 2.30  | .64  | (4.98)  | 3.20  |
| Distributions from net investment income  | (.29)  | (.30)  | (.22)  | (.14)  | (.16)  | (.12)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (.71)  | -  |
| Total distributions  | (.29)  | (.30)  | (.22)  | (.14)  | (.87)  | (.12)  |
| Net asset value, end of period  | $17.16 | $14.82 | $12.19 | $10.11 | $9.61 | $15.46 |
| **Total Return** C,D | 18.08% <br>| 24.58%  | 22.95%  | 6.61%  | (34.09)%  | 26.03%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions G | -% H | -%  | -%  | -%  | -%  | -%  |
| Expenses net of fee waivers, if any G | -% H<br>| -%  | -%  | -%  | -%  | -%  |
| Expenses net of all reductions, if any G | -% H | -%  | -%  | -%  | -%  | -%  |
| Net investment income (loss)  | 1.68% H | 1.93%  | 1.90%  | 2.36%  | 1.56%  | 1.30%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1915145 | $1403077 | $808201 | $528460 | $438707 | $583710 |
| Portfolio turnover rate I | 50% H<br>| 52%  | 33%  | 31%  | 40%  | 37%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Total returns for periods of less than one year are not annualized.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

F*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

G*Amount represents less than .005%.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity SAI International SMA Completion Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $581761294 |
| **Gross unrealized depreciation** | <u>(20528186)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$561233108</u> |
| **Tax cost** | <u>$1374547701</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(30150539) |
| Long-term | <u>(62695881)</u> |
| **Total capital loss carryforward** | <u>$(92846420)</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity SAI International SMA Completion Fund** | 488558879 | 378410743 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services and the Fund does not pay any fees for these services. Under the management contract, the investment adviser or an affiliate pays all other expenses of the Fund, excluding fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity SAI International SMA Completion Fund** | 57586106 | 7297513 | (210141) |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity SAI International SMA Completion Fund** | 3631 |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**7. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity SAI International SMA Completion Fund** | 1519 | - | - |

---

**8. Expense Reductions.** 

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $1.

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131270_4.jpg)<br>

1.9893099.107 ISM-SANN-0626

**Fidelity® Series Sustainable Emerging Markets Fund**

**Fidelity® Series Sustainable Non-U.S. Developed Markets Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131311_1.jpg)

![](img131311_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_SMKC-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Sustainable Emerging Markets Fund](#Sub_Sec_Fund_7317_SMKC-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Sustainable Non-U.S. Developed Markets Fund](#Sub_Sec_Fund_7318_SMKC-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements7317_SMKC-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SMKC-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SMKC-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SMKC-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SMKC-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Funds nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Sustainable Emerging Markets Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 90.3%** | &nbsp;&nbsp;**Common Stocks - 90.3%** | &nbsp;&nbsp;**Common Stocks - 90.3%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| YPF SA Class D ADR (a) | 200 | 9032 |
| AUSTRALIA - 0.9%  |  |  |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Anglogold Ashanti Plc  | 857 | 80326 |
| Anglogold Ashanti Plc (South Africa)  | 1296 | 120706 |
| TOTAL AUSTRALIA |  | 201032 |
| BRAZIL - 5.0%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Household Durables - 0.1% |  |  |
| Construtora Tenda S/A  | 900 | 5107 |
| Cury Construtora e Incorporadora SA  | 2643 | 16045 |
|  |  | 21152 |
| Specialty Retail - 0.7% |  |  |
| Vibra Energia SA  | 21065 | 141658 |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Azzas 2154 SA  | 3890 | 16984 |
| TOTAL CONSUMER DISCRETIONARY |  | 179794 |
| Consumer Staples - 0.1% |  |  |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Raia Drogasil SA  | 4200 | 18609 |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| PRIO SA/Brazil (a) | 7328 | 98278 |
| Financials - 2.1% |  |  |
| Banks - 0.7% |  |  |
| Itau Unibanco Holding SA  | 181 | 1579 |
| Itau Unibanco Holding SA ADR  | 16193 | 140880 |
|  |  | 142459 |
| Capital Markets - 1.4% |  |  |
| B3 SA - Brasil Bolsa Balcao  | 47786 | 173994 |
| XP Inc Class A  | 5230 | 100207 |
|  |  | 274201 |
| Financial Services - 0.0% |  |  |
| StoneCo Ltd Class A  | 783 | 8597 |
| TOTAL FINANCIALS |  | 425257 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Hypera SA  | 6300 | 28664 |
| Industrials - 0.3% |  |  |
| Ground Transportation - 0.3% |  |  |
| Localiza Rent a Car SA  | 6860 | 63602 |
| Localiza Rent a Car SA (PN)  | 490 | 4367 |
| TOTAL INDUSTRIALS |  | 67969 |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.2% |  |  |
| Metalurgica Gerdau SA  | 20785 | 41681 |
| Paper & Forest Products - 0.1% |  |  |
| Dexco SA  | 25574 | 26907 |
| TOTAL MATERIALS |  | 68588 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| LOG Commercial Properties e Participacoes SA  | 4100 | 22049 |
| Utilities - 0.7% |  |  |
| Electric Utilities - 0.6% |  |  |
| Axia Energia SA  | 4200 | 52629 |
| Equatorial SA  | 5800 | 49569 |
| Isa Energia Brasil sa  | 4300 | 25626 |
|  |  | 127824 |
| Water Utilities - 0.1% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 3400 | 22761 |
| TOTAL UTILITIES |  | 150585 |
| TOTAL BRAZIL |  | 1059793 |
| CHILE - 0.8%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Banco de Chile  | 404356 | 75801 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Antofagasta PLC  | 2064 | 99691 |
| TOTAL CHILE |  | 175492 |
| CHINA - 20.8%  |  |  |
| Communication Services - 4.6% |  |  |
| Entertainment - 0.6% |  |  |
| Netease Inc  | 1800 | 42136 |
| Netease Inc ADR  | 874 | 102704 |
|  |  | 144840 |
| Interactive Media & Services - 4.0% |  |  |
| Baidu Inc A Shares (a) | 4650 | 73428 |
| Baidu Inc Class A ADR (a) | 306 | 38718 |
| Tencent Holdings Ltd  | 12112 | 735590 |
|  |  | 847736 |
| TOTAL COMMUNICATION SERVICES |  | 992576 |
| Consumer Discretionary - 5.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Fuyao Glass Industry Group Co Ltd A Shares (China)  | 5000 | 43305 |
| Fuyao Glass Industry Group Co Ltd H Shares (b)(c) | 800 | 6095 |
|  |  | 49400 |
| Automobiles - 1.1% |  |  |
| BYD Co Ltd A Shares (China)  | 2700 | 40993 |
| BYD Co Ltd H Shares  | 11470 | 152576 |
| XPeng Inc A Shares (a) | 5300 | 42360 |
|  |  | 235929 |
| Broadline Retail - 2.3% |  |  |
| Alibaba Group Holding Ltd  | 27700 | 456525 |
| Alibaba Group Holding Ltd ADR  | 146 | 19254 |
| JD.com Inc ADR  | 505 | 15311 |
|  |  | 491090 |
| Diversified Consumer Services - 0.3% |  |  |
| New Oriental Education & Technology Group Inc  | 5900 | 32194 |
| New Oriental Education & Technology Group Inc ADR  | 502 | 27454 |
|  |  | 59648 |
| Hotels, Restaurants & Leisure - 0.9% |  |  |
| H World Group Ltd ADR  | 964 | 49781 |
| Meituan B Shares (a)(b)(c) | 2112 | 22723 |
| Trip.com Group Ltd (a) | 82 | 4428 |
| Trip.com Group Ltd ADR (a) | 605 | 32797 |
| Yum China Holdings Inc  | 737 | 35708 |
| Yum China Holdings Inc (Hong Kong)  | 750 | 36700 |
|  |  | 182137 |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| Laopu Gold Co Ltd H Shares  | 600 | 42839 |
| Shenzhou International Group Holdings Ltd  | 5500 | 33525 |
|  |  | 76364 |
| TOTAL CONSUMER DISCRETIONARY |  | 1094568 |
| Consumer Staples - 0.8% |  |  |
| Beverages - 0.7% |  |  |
| China Resources Beer Holdings Co Ltd  | 7000 | 24120 |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 800 | 23904 |
| Kweichow Moutai Co Ltd A Shares (China)  | 300 | 60856 |
| Tsingtao Brewery Co Ltd H Shares  | 6129 | 42374 |
|  |  | 151254 |
| Food Products - 0.1% |  |  |
| Uni-President China Holdings Ltd  | 16000 | 14727 |
| TOTAL CONSUMER STAPLES |  | 165981 |
| Financials - 4.7% |  |  |
| Banks - 3.1% |  |  |
| Bank of Ningbo Co Ltd A Shares (China)  | 14200 | 69596 |
| China Construction Bank Corp H Shares  | 453548 | 511966 |
| China Merchants Bank Co Ltd H Shares  | 5506 | 33325 |
| Industrial & Commercial Bank of China Ltd H Shares  | 45864 | 41321 |
|  |  | 656208 |
| Insurance - 1.6% |  |  |
| China Life Insurance Co Ltd H Shares  | 14061 | 51872 |
| China Pacific Insurance Group Co Ltd H Shares  | 4400 | 19208 |
| People's Insurance Co Group of China Ltd/The H Shares  | 19000 | 13000 |
| PICC Property & Casualty Co Ltd H Shares  | 4000 | 7225 |
| Ping An Insurance Group Co of China Ltd H Shares  | 32056 | 260554 |
|  |  | 351859 |
| TOTAL FINANCIALS |  | 1008067 |
| Health Care - 1.6% |  |  |
| Biotechnology - 0.5% |  |  |
| Innovent Biologics Inc (a)(b)(c) | 6985 | 81567 |
| Zai Lab Ltd (a) | 7045 | 15120 |
| Zai Lab Ltd ADR (a) | 529 | 11448 |
|  |  | 108135 |
| Health Care Equipment & Supplies - 0.0% |  |  |
| Shandong Weigao Group Medical Polymer Co Ltd H Shares  | 28000 | 12340 |
| Life Sciences Tools & Services - 0.5% |  |  |
| Wuxi Apptec Co Ltd H Shares (b)(c) | 5200 | 91353 |
| WuXi XDC Cayman Inc (a) | 1000 | 7593 |
|  |  | 98946 |
| Pharmaceuticals - 0.6% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (b)(c) | 15205 | 72827 |
| Jiangsu Hengrui Pharmaceuticals Co Ltd A Shares (China)  | 5300 | 42012 |
| Jiangsu Hengrui Pharmaceuticals Co Ltd H Shares  | 1400 | 11674 |
|  |  | 126513 |
| TOTAL HEALTH CARE |  | 345934 |
| Industrials - 2.0% |  |  |
| Construction & Engineering - 0.1% |  |  |
| Sinopec Engineering Group Co Ltd H Shares  | 27616 | 22310 |
| Electrical Equipment - 1.0% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 2700 | 173456 |
| Hongfa Technology Co Ltd A Shares (China)  | 8100 | 37116 |
|  |  | 210572 |
| Machinery - 0.9% |  |  |
| Airtac International Group  | 1000 | 46838 |
| Sany Heavy Equipment International Holdings Co Ltd  | 3000 | 4147 |
| Shenzhen Inovance Technology Co Ltd A Shares (China)  | 7700 | 77678 |
| UBTech Robotics Corp Ltd H Shares (a) | 50 | 686 |
| Yangzijiang Shipbuildling (Holdings) Ltd  | 17600 | 60024 |
|  |  | 189373 |
| TOTAL INDUSTRIALS |  | 422255 |
| Information Technology - 0.5% |  |  |
| Semiconductors & Semiconductor Equipment - 0.5% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 1161 | 64549 |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 384 | 14174 |
| Montage Technology Co Ltd A Shares (China)  | 958 | 24621 |
| Shanghai Fudan Microelectronics Group Co Ltd H Shares  | 1000 | 4998 |
| TOTAL INFORMATION TECHNOLOGY |  | 108342 |
| Materials - 0.7% |  |  |
| Construction Materials - 0.2% |  |  |
| China Jushi Co Ltd A Shares (China)  | 9300 | 47243 |
| Metals & Mining - 0.5% |  |  |
| MMG Ltd (a) | 96000 | 103573 |
| TOTAL MATERIALS |  | 150816 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| China Overseas Land & Investment Ltd  | 4500 | 7729 |
| China Resources Land Ltd  | 2500 | 10504 |
| KE Holdings Inc A Shares  | 4300 | 23876 |
| TOTAL REAL ESTATE |  | 42109 |
| Utilities - 0.5% |  |  |
| Gas Utilities - 0.5% |  |  |
| ENN Energy Holdings Ltd  | 8640 | 67732 |
| Kunlun Energy Co Ltd  | 42867 | 41253 |
| TOTAL UTILITIES |  | 108985 |
| TOTAL CHINA |  | 4439633 |
| FRANCE - 0.2%  |  |  |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Gaztransport Et Technigaz SA  | 132 | 32069 |
| GREECE - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Alpha Bank SA  | 7286 | 29240 |
| Eurobank SA  | 8795 | 37986 |
| Piraeus Bank SA  | 8431 | 78666 |
| TOTAL GREECE |  | 145892 |
| HONG KONG - 0.0%  |  |  |
| Communication Services - 0.0% |  |  |
| Entertainment - 0.0% |  |  |
| Huanxi Media Group Ltd (a) | 61876 | 2027 |
| HUNGARY - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Richter Gedeon Nyrt  | 1012 | 42627 |
| INDIA - 7.9%  |  |  |
| Communication Services - 0.3% |  |  |
| Wireless Telecommunication Services - 0.3% |  |  |
| Bharti Airtel Ltd  | 3349 | 66949 |
| Consumer Discretionary - 0.9% |  |  |
| Automobiles - 0.6% |  |  |
| Mahindra & Mahindra Ltd  | 3956 | 129751 |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Eternal Ltd (a) | 17840 | 46813 |
| MakeMyTrip Ltd (a) | 330 | 15579 |
|  |  | 62392 |
| TOTAL CONSUMER DISCRETIONARY |  | 192143 |
| Energy - 1.0% |  |  |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| Reliance Industries Ltd  | 14640 | 222045 |
| Financials - 4.3% |  |  |
| Banks - 2.9% |  |  |
| Axis Bank Ltd  | 2619 | 35129 |
| Canara Bank  | 40925 | 58412 |
| HDFC Bank Ltd  | 36091 | 295203 |
| ICICI Bank Ltd  | 14190 | 190414 |
| State Bank of India  | 1691 | 19127 |
|  |  | 598285 |
| Capital Markets - 0.0% |  |  |
| HDFC Asset Management Co Ltd (b)(c) | 194 | 5567 |
| Consumer Finance - 0.9% |  |  |
| Bajaj Finance Ltd  | 12676 | 125911 |
| Shriram Finance Ltd  | 6533 | 64977 |
|  |  | 190888 |
| Insurance - 0.5% |  |  |
| HDFC Life Insurance Co Ltd (b)(c) | 13590 | 84417 |
| SBI Life Insurance Co Ltd (b)(c) | 727 | 13963 |
|  |  | 98380 |
| TOTAL FINANCIALS |  | 893120 |
| Health Care - 0.2% |  |  |
| Life Sciences Tools & Services - 0.1% |  |  |
| Divi's Laboratories Ltd  | 272 | 18717 |
| Pharmaceuticals - 0.1% |  |  |
| Sun Pharmaceutical Industries Ltd  | 773 | 14808 |
| Torrent Pharmaceuticals Ltd  | 194 | 8571 |
|  |  | 23379 |
| TOTAL HEALTH CARE |  | 42096 |
| Industrials - 0.4% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Bharat Electronics Ltd  | 3835 | 17508 |
| Construction & Engineering - 0.3% |  |  |
| Larsen & Toubro Ltd  | 1759 | 74725 |
| TOTAL INDUSTRIALS |  | 92233 |
| Information Technology - 0.3% |  |  |
| IT Services - 0.3% |  |  |
| Infosys Ltd  | 5913 | 74442 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Godrej Properties Ltd (a) | 315 | 6117 |
| Sunteck Realty Ltd  | 2464 | 8870 |
| TOTAL REAL ESTATE |  | 14987 |
| Utilities - 0.4% |  |  |
| Electric Utilities - 0.3% |  |  |
| Power Grid Corp of India Ltd  | 16377 | 55152 |
| Independent Power and Renewable Electricity Producers - 0.1% |  |  |
| NHPC Ltd  | 37436 | 32951 |
| TOTAL UTILITIES |  | 88103 |
| TOTAL INDIA |  | 1686118 |
| INDONESIA - 0.9%  |  |  |
| Consumer Staples - 0.3% |  |  |
| Food Products - 0.3% |  |  |
| First Resources Ltd  | 22857 | 62788 |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Bank Central Asia Tbk PT  | 167447 | 56771 |
| Bank Rakyat Indonesia Persero Tbk PT  | 284178 | 49161 |
| Bank Syariah Indonesia Persero Tbk PT  | 152000 | 15611 |
| TOTAL FINANCIALS |  | 121543 |
| TOTAL INDONESIA |  | 184331 |
| ITALY - 0.2%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Beverages - 0.2% |  |  |
| Coca-Cola HBC AG  | 895 | 52125 |
| KOREA (SOUTH) - 17.5%  |  |  |
| Communication Services - 0.6% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| KT Corp  | 869 | 36032 |
| Entertainment - 0.2% |  |  |
| HYBE Co Ltd  | 217 | 39132 |
| Interactive Media & Services - 0.2% |  |  |
| NAVER Corp  | 327 | 47273 |
| TOTAL COMMUNICATION SERVICES |  | 122437 |
| Consumer Discretionary - 0.4% |  |  |
| Automobiles - 0.1% |  |  |
| Kia Corp  | 301 | 31245 |
| Household Durables - 0.3% |  |  |
| Coway Co Ltd  | 815 | 47687 |
| TOTAL CONSUMER DISCRETIONARY |  | 78932 |
| Financials - 2.4% |  |  |
| Banks - 2.1% |  |  |
| KB Financial Group Inc  | 1810 | 199477 |
| Shinhan Financial Group Co Ltd  | 1232 | 84201 |
| Woori Financial Group Inc  | 6805 | 156178 |
|  |  | 439856 |
| Insurance - 0.3% |  |  |
| Samsung Life Insurance Co Ltd  | 385 | 65901 |
| TOTAL FINANCIALS |  | 505757 |
| Health Care - 0.1% |  |  |
| Life Sciences Tools & Services - 0.1% |  |  |
| Samsung Biologics Co Ltd (a)(b)(c) | 45 | 45155 |
| Industrials - 1.5% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| Korea Aerospace Industries Ltd  | 560 | 64569 |
| Electrical Equipment - 0.9% |  |  |
| Doosan Enerbility Co Ltd (a) | 122 | 10701 |
| LS Electric Co Ltd  | 825 | 159455 |
|  |  | 170156 |
| Industrial Conglomerates - 0.2% |  |  |
| LG Corp  | 734 | 49855 |
| Machinery - 0.1% |  |  |
| HD Hyundai Marine Solution Co Ltd  | 170 | 30934 |
| TOTAL INDUSTRIALS |  | 315514 |
| Information Technology - 12.5% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Samsung Electro-Mechanics Co Ltd  | 68 | 39261 |
| Semiconductors & Semiconductor Equipment - 5.3% |  |  |
| SK Hynix Inc  | 1252 | 1123661 |
| Technology Hardware, Storage & Peripherals - 7.0% |  |  |
| Samsung Electronics Co Ltd  | 9931 | 1505086 |
| TOTAL INFORMATION TECHNOLOGY |  | 2668008 |
| TOTAL KOREA (SOUTH) |  | 3735803 |
| MALAYSIA - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| CIMB Group Holdings Bhd  | 75300 | 145475 |
| MEXICO - 2.3%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| America Movil SAB de CV Series B  | 37100 | 49294 |
| Consumer Staples - 0.5% |  |  |
| Beverages - 0.2% |  |  |
| Arca Continental SAB de CV  | 2100 | 25230 |
| Fomento Economico Mexicano SAB de CV ADR  | 209 | 24712 |
|  |  | 49942 |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Wal-Mart de Mexico SAB de CV Series V  | 10910 | 34394 |
| Food Products - 0.1% |  |  |
| Gruma SAB de CV Series B  | 904 | 15689 |
| TOTAL CONSUMER STAPLES |  | 100025 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| Grupo Financiero Banorte SAB de CV  | 17891 | 194268 |
| Industrials - 0.1% |  |  |
| Transportation Infrastructure - 0.1% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Series B  | 200 | 2654 |
| Grupo Aeroportuario del Pacifico SAB de CV Series B  | 563 | 14124 |
| TOTAL INDUSTRIALS |  | 16778 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Cemex SAB de CV ADR  | 6678 | 82139 |
| Real Estate - 0.2% |  |  |
| Diversified REITs - 0.0% |  |  |
| Fibra Uno Administracion SA de CV  | 3084 | 5294 |
| Real Estate Management & Development - 0.2% |  |  |
| Corp Inmobiliaria Vesta SAB de CV  | 5700 | 20290 |
| Corp Inmobiliaria Vesta SAB de CV ADR  | 569 | 20256 |
|  |  | 40546 |
| TOTAL REAL ESTATE |  | 45840 |
| TOTAL MEXICO |  | 488344 |
| NETHERLANDS - 0.0%  |  |  |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| CTP NV (b)(c) | 578 | 10908 |
| PANAMA - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Passenger Airlines - 0.3% |  |  |
| Copa Holdings SA Class A  | 516 | 59691 |
| PHILIPPINES - 0.0%  |  |  |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| Ayala Land Inc  | 14023 | 3458 |
| SM Prime Holdings Inc  | 16400 | 5087 |
| TOTAL PHILIPPINES |  | 8545 |
| POLAND - 0.4%  |  |  |
| Communication Services - 0.0% |  |  |
| Entertainment - 0.0% |  |  |
| CD Projekt SA  | 156 | 11861 |
| Consumer Discretionary - 0.4% |  |  |
| Broadline Retail - 0.4% |  |  |
| Allegro.eu SA (a)(b)(c) | 9748 | 79992 |
| TOTAL POLAND |  | 91853 |
| PUERTO RICO - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Liberty Latin America Ltd Class C (a) | 2742 | 22786 |
| ROMANIA - 0.0%  |  |  |
| Utilities - 0.0% |  |  |
| Independent Power and Renewable Electricity Producers - 0.0% |  |  |
| Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA  | 171 | 6134 |
| SAUDI ARABIA - 1.7%  |  |  |
| Financials - 1.5% |  |  |
| Banks - 1.5% |  |  |
| Al Rajhi Bank  | 12912 | 236000 |
| Saudi National Bank/The  | 7156 | 74947 |
| TOTAL FINANCIALS |  | 310947 |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Dr Sulaiman Al Habib Medical Services Group Co  | 644 | 41622 |
| TOTAL SAUDI ARABIA |  | 352569 |
| SINGAPORE - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.2% |  |  |
| Sea Ltd Class A ADR (a) | 558 | 47363 |
| SOUTH AFRICA - 3.5%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| MTN Group Ltd  | 2802 | 35156 |
| Consumer Discretionary - 0.6% |  |  |
| Broadline Retail - 0.6% |  |  |
| Naspers Ltd Class N  | 2466 | 133534 |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| Pick n Pay Stores Ltd (a) | 20682 | 24459 |
| Shoprite Holdings Ltd  | 5370 | 90511 |
| TOTAL CONSUMER STAPLES |  | 114970 |
| Financials - 1.3% |  |  |
| Banks - 0.6% |  |  |
| Capitec Bank Holdings Ltd  | 430 | 111651 |
| Standard Bank Group Ltd  | 900 | 17316 |
|  |  | 128967 |
| Financial Services - 0.7% |  |  |
| FirstRand Ltd  | 25349 | 134267 |
| TOTAL FINANCIALS |  | 263234 |
| Industrials - 0.3% |  |  |
| Industrial Conglomerates - 0.3% |  |  |
| Bidvest Group Ltd  | 4613 | 64611 |
| Materials - 0.6% |  |  |
| Chemicals - 0.2% |  |  |
| Sasol Ltd (a) | 3837 | 53332 |
| Metals & Mining - 0.4% |  |  |
| Impala Platinum Holdings Ltd  | 6091 | 85378 |
| TOTAL MATERIALS |  | 138710 |
| TOTAL SOUTH AFRICA |  | 750215 |
| TAIWAN - 23.1%  |  |  |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| CTBC Financial Holding Co Ltd  | 96555 | 160212 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.4% |  |  |
| Bizlink Holding Inc  | 1148 | 103411 |
| Information Technology - 21.9% |  |  |
| Communications Equipment - 0.3% |  |  |
| Accton Technology Corp  | 942 | 69208 |
| Electronic Equipment, Instruments & Components - 3.0% |  |  |
| Chroma ATE Inc  | 1000 | 68548 |
| Delta Electronics Inc  | 5823 | 409640 |
| Elite Material Co Ltd  | 1000 | 149479 |
| Yageo Corp  | 1000 | 10228 |
|  |  | 637895 |
| Semiconductors & Semiconductor Equipment - 18.2% |  |  |
| ASE Technology Holding Co Ltd  | 10789 | 169652 |
| MediaTek Inc  | 2912 | 243872 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 49651 | 3457834 |
|  |  | 3871358 |
| Technology Hardware, Storage & Peripherals - 0.4% |  |  |
| Asia Vital Components Co Ltd  | 1000 | 91845 |
| TOTAL INFORMATION TECHNOLOGY |  | 4670306 |
| TOTAL TAIWAN |  | 4933929 |
| THAILAND - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Kasikornbank PCL  | 3100 | 18625 |
| TURKEY - 0.8%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| BIM Birlesik Magazalar AS  | 2170 | 35611 |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Akbank TAS  | 17145 | 27774 |
| Industrials - 0.5% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 11149 | 103694 |
| TOTAL TURKEY |  | 167079 |
| UNITED ARAB EMIRATES - 1.3%  |  |  |
| Energy - 0.2% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| ADNOC Drilling Co PJSC  | 33822 | 52117 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 27249 | 102376 |
| Abu Dhabi Islamic Bank PJSC  | 13117 | 78278 |
| TOTAL FINANCIALS |  | 180654 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Emaar Properties PJSC  | 9821 | 31551 |
| RAK Properties PJSC (a) | 27752 | 8084 |
| TOTAL REAL ESTATE |  | 39635 |
| TOTAL UNITED ARAB EMIRATES |  | 272406 |
| UNITED STATES - 0.7%  |  |  |
| Energy - 0.3% |  |  |
| Energy Equipment & Services - 0.3% |  |  |
| Tenaris SA ADR  | 897 | 57318 |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| BeOne Medicines Ltd ADR (a) | 91 | 26869 |
| BeOne Medicines Ltd H Shares (a) | 1600 | 36319 |
| TOTAL HEALTH CARE |  | 63188 |
| Materials - 0.1% |  |  |
| Construction Materials - 0.1% |  |  |
| Titan SA  | 433 | 23438 |
| TOTAL UNITED STATES |  | 143944 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $13,668,867) |  | <br> **19285840** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.2%** |
|  | Shares | Value ($)<br>|
| KOREA (SOUTH) - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobiles - 0.2% |  |  |
| Hyundai Motor Co Series 2 <br>(Cost $33,795)<br>| 318 | **53953** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** | &nbsp;&nbsp;**Money Market Funds - 6.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $1,402,039)<br>| 3.69 | 1401758 | **1402039** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 97.1%**<br> (Cost $15,104,701)<br>| <br>**20741832** |
| **NET OTHER ASSETS (LIABILITIES) - 2.9%**  | **613874** |
| **NET ASSETS - 100.0%** | **21355706** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Equity Contracts |  |  |  |  |
| ICE MSCI Emerging Markets Index Contracts (United States) | 21 | 6/2026 | 1715910 | 103807 |
| The notional amount of long futures as a percentage of Net Assets is 8.0%. | The notional amount of long futures as a percentage of Net Assets is 8.0%. | The notional amount of long futures as a percentage of Net Assets is 8.0%. | The notional amount of long futures as a percentage of Net Assets is 8.0%. | The notional amount of long futures as a percentage of Net Assets is 8.0%. |

---

**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 $514,567 or 2.4% of net assets.

(c) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $514,567 or 2.4% of net assets.

(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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 888169 | 3981899 | 3468063 | 9876 | 34 | - | 1402039 | 1401758 | 0.0% |
| Total | 888169 | 3981899 | 3468063 | 9876 | 34 | - | 1402039 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 1303086 | 260519 | 1042567 | - |
| Consumer Discretionary | 1806326 | 503033 | 1303293 | - |
| Consumer Staples | 550109 | 321340 | 228769 | - |
| Energy | 470859 | 248814 | 222045 | - |
| Financials | 4476626 | 1594587 | 2882039 | - |
| Health Care | 609286 | 151230 | 458056 | - |
| Industrials | 1246156 | 312743 | 933413 | - |
| Information Technology | 7521098 | - | 7521098 | - |
| Materials | 764414 | 474888 | 289526 | - |
| Real Estate | 184073 | 118432 | 65641 | - |
| Utilities | 353807 | 156719 | 197088 | - |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Consumer Discretionary | 53953 | - | 53953 | - |
|  **Money Market Funds** | 1402039 | 1402039 | - | - |
| **Total Investments in Securities:** | 20741832 | 5544344 | 15197488 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 103807 | 103807 | - | - |
| Total Assets | 103807 | 103807 | - | - |
| **Total Derivative Instruments:** | 103807 | 103807 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 103807 | - |
| **Total Equity Risk**  | 103807 | - |
| **Total Value of Derivatives** | 103807 | - |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity® Series Sustainable Emerging Markets Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $13,702,662) | $19339793 |  |
| Fidelity Central Funds (cost $1,402,039) | 1402039 |  |
| Total Investment in Securities (cost $15,104,701) |  | $20741832 |
| Segregated cash with brokers for derivative instruments |  | 58933 |
| Cash |  | 41358 |
| Foreign currency held at value (cost $2,410) |  | 2421 |
| Receivable for investments sold |  | 85011 |
| Receivable for fund shares sold |  | 752220 |
| Dividends receivable |  | 20223 |
| Distributions receivable from Fidelity Central Funds |  | 3474 |
| Receivable for variation margin on futures contracts |  | 25040 |
| Receivable from investment adviser for expense reductions |  | 635 |
| Other receivables |  | 3 |
| **Total assets** |  | 21731150 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $372087 |  |
| Other payables and accrued expenses | 3357 |  |
| **Total liabilities** |  | 375444 |
| **Net Assets**  |  | $21355706 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $14618034 |
| Total accumulated earnings (loss) |  | 6737672 |
| **Net Assets** |  | $21355706 |
| **Net Asset Value**, offering price and redemption price per share ($21,355,706 ÷ 1,257,788 shares) |  | $16.98 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $169303 |
| Interest  |  | 172 |
| Income from Fidelity Central Funds  |  | 9876 |
| Income before foreign taxes withheld |  | $179351 |
| Less foreign taxes withheld |  | (17626) |
| **Total income** |  | 161725 |
| **Expenses** |  |  |
| Custodian fees and expenses | $17231 |  |
| Independent trustees' fees and expenses | 25 |  |
| Total expenses before reductions | 17256 |  |
| Expense reductions | (16301) |  |
| Total expenses after reductions |  | 955 |
| **Net Investment income (loss)** |  | 160770 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 1066151 |  |
| Fidelity Central Funds | 34 |  |
| Foreign currency transactions | (4609) |  |
| Futures contracts | (51204) |  |
| Total net realized gain (loss) |  | 1010372 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $4,482)  | 1786249 |  |
| Assets and liabilities in foreign currencies | 365 |  |
| Futures contracts | 99356 |  |
| Total change in net unrealized appreciation (depreciation) |  | 1885970 |
| **Net gain (loss)** |  | 2896342 |
| **Net increase (decrease) in net assets resulting from operations** |  | $3057112 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $160770 | $278520 |
| &nbsp;&nbsp;Net realized gain (loss) | 1010372<br>| 86717<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 1885970 | 2873752<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 3057112<br>| 3238989<br>|
| Distributions to shareholders | (310287)<br>| (206982)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 4570749 | 6642847 |
| Reinvestment of distributions | 310287<br>| 206982<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (1991353) | (3920316) |
| **Net increase (decrease) in net assets resulting from share transactions** | 2889683<br>| 2929513<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 5636508<br>| 5961520<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 15719198 | 9757678<br>|
| &nbsp;&nbsp;End of period | $21355706 | $15719198 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 292519 | 536632 |
| Issued in reinvestment of distributions | 21975<br>| 18285<br>|
| &nbsp;&nbsp;Redeemed | (132246) | (318293) |
| &nbsp;&nbsp;Net increase (decrease) | 182248 | 236624 |

---

**Financial Highlights** 

**Fidelity® Series Sustainable Emerging Markets Fund** <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023** A |
| **Selected Per-Share Data**  |  |  |  |  |
| Net asset value, beginning of period  | $14.62 | $11.63 | $9.62 | $10.00 |
| Income from Investment Operations  |  |  |  |  |
| Net investment income (loss) B,C | .14  | .29  | .28  | .16  |
| Net realized and unrealized gain (loss)  | 2.51  | 2.94  | 1.95  | (.54)  |
| Total from investment operations  | 2.65  | 3.23  | 2.23  | (.38)  |
| Distributions from net investment income  | (.29)  | (.24)  | (.22)  | -  |
| Total distributions  | (.29)  | (.24)  | (.22)  | -  |
| Net asset value, end of period  | $16.98 | $14.62 | $11.63 | $9.62 |
| **Total Return** D,E | 18.49% <br>| 28.42%  | 23.47%  | (3.80)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |
| Expenses before reductions  | .20% H | .25%  | .32%  | .31% H |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01% H |
| Expenses net of all reductions, if any  | .01% H | .01%  | -% I | .01% H |
| Net investment income (loss)  | 1.88% H | 2.36%  | 2.56%  | 3.40% H |
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000 omitted) | $21356 | $15719 | $9758 | $4341 |
| Portfolio turnover rate J | 90% H<br>| 87%  | 47%  | 36% K |

---

A*For the period May 11, 2023 (commencement of operations) through October 31, 2023.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount represents less than .005%.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

K*Amount not annualized.*

**Fidelity® Series Sustainable Non-U.S. Developed Markets Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 93.6%** | &nbsp;&nbsp;**Common Stocks - 93.6%** | &nbsp;&nbsp;**Common Stocks - 93.6%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.5%  |  |  |
| Communication Services - 0.0% |  |  |
| Interactive Media & Services - 0.0% |  |  |
| REA Group Ltd  | 51 | 6313 |
| Consumer Discretionary - 0.2% |  |  |
| Hotels, Restaurants & Leisure - 0.2% |  |  |
| Aristocrat Leisure Ltd  | 1186 | 40805 |
| Lottery Corp/The  | 9854 | 39447 |
| TOTAL CONSUMER DISCRETIONARY |  | 80252 |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Woodside Energy Group Ltd  | 2928 | 70002 |
| Financials - 0.4% |  |  |
| Banks - 0.1% |  |  |
| Commonwealth Bank of Australia  | 275 | 34638 |
| Capital Markets - 0.2% |  |  |
| ASX Ltd  | 518 | 22697 |
| Macquarie Group Ltd  | 108 | 18553 |
|  |  | 41250 |
| Insurance - 0.1% |  |  |
| QBE Insurance Group Ltd  | 1474 | 23876 |
| Suncorp Group Ltd  | 718 | 8935 |
|  |  | 32811 |
| TOTAL FINANCIALS |  | 108699 |
| Health Care - 0.0% |  |  |
| Health Care Equipment & Supplies - 0.0% |  |  |
| Cochlear Ltd  | 114 | 7757 |
| Industrials - 0.5% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| Brambles Ltd  | 3658 | 59878 |
| Transportation Infrastructure - 0.3% |  |  |
| Transurban Group unit  | 9063 | 91851 |
| TOTAL INDUSTRIALS |  | 151729 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Imdex Ltd  | 6216 | 18285 |
| Rio Tinto PLC  | 691 | 69609 |
| TOTAL MATERIALS |  | 87894 |
| TOTAL AUSTRALIA |  | 512646 |
| AUSTRIA - 0.4%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| OMV AG  | 351 | 24779 |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| BAWAG Group AG (c)(d) | 156 | 26676 |
| Erste Group Bank AG  | 773 | 85414 |
| TOTAL FINANCIALS |  | 112090 |
| Utilities - 0.0% |  |  |
| Electric Utilities - 0.0% |  |  |
| Verbund AG Class A  | 118 | 8884 |
| TOTAL AUSTRIA |  | 145753 |
| BELGIUM - 1.6%  |  |  |
| Consumer Staples - 0.1% |  |  |
| Beverages - 0.1% |  |  |
| Anheuser-Busch InBev SA/NV  | 516 | 38990 |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| KBC Group NV  | 3353 | 445667 |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| Fagron  | 1249 | 35181 |
| Pharmaceuticals - 0.1% |  |  |
| UCB SA (a) | 152 | 41245 |
| TOTAL HEALTH CARE |  | 76426 |
| TOTAL BELGIUM |  | 561083 |
| BRAZIL - 0.9%  |  |  |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Wheaton Precious Metals Corp  | 2595 | 327787 |
| CANADA - 13.7%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Broadline Retail - 0.4% |  |  |
| Dollarama Inc  | 1024 | 130869 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Restaurant Brands International Inc  | 480 | 38733 |
| Specialty Retail - 0.2% |  |  |
| Aritzia Inc Subordinate Voting Shares (a) | 271 | 28603 |
| Pet Valu Holdings Ltd  | 1984 | 31067 |
|  |  | 59670 |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Canada Goose Holdings Inc Subordinate Voting Shares (a) | 1454 | 16559 |
| TOTAL CONSUMER DISCRETIONARY |  | 245831 |
| Consumer Staples - 0.8% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Alimentation Couche-Tard Inc  | 4629 | 273852 |
| Energy - 1.7% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| Pason Systems Inc  | 7600 | 78162 |
| Oil, Gas & Consumable Fuels - 1.5% |  |  |
| Cameco Corp  | 995 | 122314 |
| Canadian Natural Resources Ltd  | 4291 | 204828 |
| Imperial Oil Ltd  | 1083 | 145075 |
| PrairieSky Royalty Ltd  | 1766 | 44607 |
|  |  | 516824 |
| TOTAL ENERGY |  | 594986 |
| Financials - 6.9% |  |  |
| Banks - 4.1% |  |  |
| Bank of Montreal  | 1816 | 276528 |
| National Bank of Canada  | 2738 | 413295 |
| Royal Bank of Canada  | 1994 | 358637 |
| Toronto Dominion Bank  | 3653 | 393524 |
|  |  | 1441984 |
| Capital Markets - 1.1% |  |  |
| Brookfield Asset Management Ltd Class A  | 1214 | 58325 |
| Brookfield Corp Class A  | 2707 | 122262 |
| TMX Group Ltd  | 5636 | 229863 |
|  |  | 410450 |
| Insurance - 1.7% |  |  |
| Definity Financial Corp  | 2213 | 112820 |
| Intact Financial Corp  | 1016 | 195773 |
| Sun Life Financial Inc  | 3806 | 274225 |
|  |  | 582818 |
| TOTAL FINANCIALS |  | 2435252 |
| Industrials - 0.8% |  |  |
| Commercial Services & Supplies - 0.1% |  |  |
| BOYD GROUP INC  | 249 | 30779 |
| Ground Transportation - 0.5% |  |  |
| Canadian National Railway Co  | 257 | 28866 |
| Canadian Pacific Kansas City Ltd  | 1619 | 140810 |
|  |  | 169676 |
| Professional Services - 0.2% |  |  |
| Thomson Reuters Corp  | 896 | 85712 |
| TOTAL INDUSTRIALS |  | 286167 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Celestica Inc (United States) (a) | 74 | 30309 |
| IT Services - 0.7% |  |  |
| Shopify Inc Class A (a) | 1874 | 227471 |
| Software - 0.3% |  |  |
| Constellation Software Inc/Canada  | 63 | 114739 |
| TOTAL INFORMATION TECHNOLOGY |  | 372519 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| Agnico Eagle Mines Ltd/CA  | 704 | 132383 |
| Franco-Nevada Corp  | 1911 | 440881 |
| OR Royalties Inc  | 270 | 9944 |
| Triple Flag Precious Metals Corp  | 874 | 27899 |
| TOTAL MATERIALS |  | 611107 |
| TOTAL CANADA |  | 4819714 |
| CHILE - 0.5%  |  |  |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Antofagasta PLC  | 995 | 48058 |
| Lundin Mining Corp  | 5422 | 139148 |
| TOTAL CHILE |  | 187206 |
| CHINA - 0.3%  |  |  |
| Communication Services - 0.1% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| Tencent Holdings Ltd  | 426 | 25872 |
| Consumer Discretionary - 0.0% |  |  |
| Broadline Retail - 0.0% |  |  |
| Prosus NV Class N  | 101 | 4890 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| BOC Hong Kong Holdings Ltd  | 12239 | 70401 |
| TOTAL CHINA |  | 101163 |
| DENMARK - 0.7%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Pandora A/S  | 190 | 14437 |
| Consumer Staples - 0.1% |  |  |
| Beverages - 0.1% |  |  |
| Carlsberg AS Series B  | 206 | 27895 |
| Industrials - 0.6% |  |  |
| Air Freight & Logistics - 0.6% |  |  |
| DSV A/S  | 685 | 167669 |
| Electrical Equipment - 0.0% |  |  |
| Vestas Wind Systems A/S  | 551 | 16943 |
| TOTAL INDUSTRIALS |  | 184612 |
| Utilities - 0.0% |  |  |
| Independent Power and Renewable Electricity Producers - 0.0% |  |  |
| Orsted AS (a)(c)(d) | 545 | 14581 |
| TOTAL DENMARK |  | 241525 |
| FINLAND - 1.5%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Elisa Oyj A Shares  | 467 | 22658 |
| Consumer Staples - 0.1% |  |  |
| Consumer Staples Distribution & Retail - 0.1% |  |  |
| Kesko Oyj B Shares  | 1715 | 42188 |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| Neste Oyj  | 1301 | 44846 |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Sampo Oyj A Shares  | 8325 | 86507 |
| Industrials - 0.3% |  |  |
| Machinery - 0.3% |  |  |
| Metso Oyj  | 2403 | 41401 |
| Wartsila OYJ Abp  | 1316 | 55217 |
| TOTAL INDUSTRIALS |  | 96618 |
| Information Technology - 0.5% |  |  |
| Communications Equipment - 0.5% |  |  |
| Nokia Oyj  | 10533 | 131100 |
| Nokia Oyj ADR  | 4369 | 56404 |
| TOTAL INFORMATION TECHNOLOGY |  | 187504 |
| Materials - 0.2% |  |  |
| Paper & Forest Products - 0.2% |  |  |
| Stora Enso Oyj R Shares  | 3084 | 34241 |
| UPM-Kymmene Oyj  | 857 | 25618 |
| TOTAL MATERIALS |  | 59859 |
| TOTAL FINLAND |  | 540180 |
| FRANCE - 5.7%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| Kering SA  | 19 | 5227 |
| LVMH Moet Hennessy Louis Vuitton SE  | 254 | 134566 |
| TOTAL CONSUMER DISCRETIONARY |  | 139793 |
| Consumer Staples - 0.0% |  |  |
| Personal Care Products - 0.0% |  |  |
| L'Oreal SA  | 52 | 22340 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| TotalEnergies SE  | 2099 | 195330 |
| Financials - 1.5% |  |  |
| Banks - 0.8% |  |  |
| BNP Paribas SA  | 1611 | 169190 |
| Credit Agricole SA  | 603 | 11778 |
| Societe Generale SA Series A  | 1058 | 85169 |
|  |  | 266137 |
| Insurance - 0.7% |  |  |
| AXA SA  | 5277 | 254379 |
| TOTAL FINANCIALS |  | 520516 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| EssilorLuxottica SA  | 580 | 122768 |
| Industrials - 2.3% |  |  |
| Aerospace & Defense - 0.7% |  |  |
| Airbus SE  | 1099 | 226569 |
| LISI SA  | 206 | 15038 |
|  |  | 241607 |
| Building Products - 0.0% |  |  |
| Cie de Saint-Gobain SA  | 60 | 5497 |
| Construction & Engineering - 0.1% |  |  |
| Eiffage SA  | 322 | 51774 |
| Electrical Equipment - 0.8% |  |  |
| Legrand SA  | 1647 | 295083 |
| Ground Transportation - 0.1% |  |  |
| Stef SA  | 150 | 20457 |
| Machinery - 0.1% |  |  |
| Alstom SA (a) | 956 | 19210 |
| Trading Companies & Distributors - 0.3% |  |  |
| Rexel SA  | 2382 | 99972 |
| Thermador Groupe  | 146 | 11858 |
|  |  | 111830 |
| Transportation Infrastructure - 0.2% |  |  |
| Getlink SE Series A  | 3508 | 78514 |
| TOTAL INDUSTRIALS |  | 823972 |
| Information Technology - 0.2% |  |  |
| Software - 0.2% |  |  |
| Dassault Systemes SE  | 2511 | 56582 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Air Liquide SA  | 199 | 42813 |
| Real Estate - 0.3% |  |  |
| Diversified REITs - 0.1% |  |  |
| Covivio SA/France  | 484 | 31924 |
| Retail REITs - 0.2% |  |  |
| Unibail-Rodamco-Westfield unit  | 538 | 65100 |
| TOTAL REAL ESTATE |  | 97024 |
| TOTAL FRANCE |  | 2021138 |
| GERMANY - 5.4%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.0% |  |  |
| Auto1 Group SE (a) | 281 | 5979 |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Adidas AG  | 145 | 25094 |
| TOTAL CONSUMER DISCRETIONARY |  | 31073 |
| Consumer Staples - 0.4% |  |  |
| Household Products - 0.3% |  |  |
| Henkel AG & Co KGaA  | 1526 | 105221 |
| Personal Care Products - 0.1% |  |  |
| Beiersdorf AG  | 343 | 28434 |
| TOTAL CONSUMER STAPLES |  | 133655 |
| Financials - 1.1% |  |  |
| Banks - 0.0% |  |  |
| Commerzbank AG  | 379 | 15662 |
| Capital Markets - 0.1% |  |  |
| Deutsche Boerse AG  | 119 | 36509 |
| Insurance - 1.0% |  |  |
| Allianz SE  | 409 | 186804 |
| Hannover Rueck SE  | 223 | 67419 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 131 | 78535 |
|  |  | 332758 |
| TOTAL FINANCIALS |  | 384929 |
| Health Care - 0.4% |  |  |
| Pharmaceuticals - 0.4% |  |  |
| Bayer AG  | 1314 | 58680 |
| Merck KGaA  | 621 | 80208 |
| TOTAL HEALTH CARE |  | 138888 |
| Industrials - 2.4% |  |  |
| Aerospace & Defense - 1.0% |  |  |
| Hensoldt AG  | 290 | 26168 |
| Rheinmetall AG  | 208 | 330977 |
|  |  | 357145 |
| Air Freight & Logistics - 0.0% |  |  |
| Deutsche Post AG  | 315 | 18652 |
| Construction & Engineering - 0.2% |  |  |
| HOCHTIEF AG  | 109 | 58489 |
| Electrical Equipment - 0.4% |  |  |
| Siemens Energy AG  | 652 | 138183 |
| Industrial Conglomerates - 0.6% |  |  |
| Siemens AG  | 723 | 214848 |
| Machinery - 0.2% |  |  |
| Gea Group Ag  | 955 | 65401 |
| TOTAL INDUSTRIALS |  | 852718 |
| Information Technology - 0.5% |  |  |
| Semiconductors & Semiconductor Equipment - 0.1% |  |  |
| Infineon Technologies AG  | 771 | 51854 |
| Software - 0.4% |  |  |
| SAP SE  | 778 | 130621 |
| TOTAL INFORMATION TECHNOLOGY |  | 182475 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Heidelberg Materials AG  | 639 | 140991 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Vonovia SE  | 1453 | 39148 |
| TOTAL GERMANY |  | 1903877 |
| HONG KONG - 0.8%  |  |  |
| Financials - 0.5% |  |  |
| Capital Markets - 0.0% |  |  |
| Hong Kong Exchanges & Clearing Ltd  | 317 | 16884 |
| Insurance - 0.5% |  |  |
| AIA Group Ltd  | 6600 | 72460 |
| Prudential PLC  | 4583 | 69064 |
| Prudential PLC rights (a)(b) | 4583 | 869 |
|  |  | 142393 |
| TOTAL FINANCIALS |  | 159277 |
| Industrials - 0.1% |  |  |
| Ground Transportation - 0.1% |  |  |
| MTR Corp Ltd  | 11850 | 50637 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Sino Land Co Ltd  | 38000 | 60936 |
| TOTAL HONG KONG |  | 270850 |
| IRELAND - 0.5%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Household Durables - 0.0% |  |  |
| Cairn Homes PLC  | 3030 | 7759 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Kerry Group PLC Class A  | 866 | 73383 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| AIB Group PLC  | 1635 | 18802 |
| Bank of Ireland Group PLC  | 1868 | 36700 |
| TOTAL FINANCIALS |  | 55502 |
| Industrials - 0.1% |  |  |
| Building Products - 0.1% |  |  |
| Kingspan Group PLC  | 435 | 40154 |
| TOTAL IRELAND |  | 176798 |
| ISRAEL - 0.5%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Bank Hapoalim BM  | 1968 | 52749 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (a) | 751 | 26338 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Elbit Systems Ltd  | 62 | 51396 |
| Information Technology - 0.1% |  |  |
| Communications Equipment - 0.1% |  |  |
| Ituran Location and Control Ltd  | 323 | 18605 |
| Software - 0.0% |  |  |
| Nice Ltd (a) | 175 | 17668 |
| TOTAL INFORMATION TECHNOLOGY |  | 36273 |
| TOTAL ISRAEL |  | 166756 |
| ITALY - 2.3%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Textiles, Apparel & Luxury Goods - 0.2% |  |  |
| Moncler SpA  | 942 | 56650 |
| Financials - 1.8% |  |  |
| Banks - 1.4% |  |  |
| BPER Banca SPA  | 2359 | 34702 |
| FinecoBank Banca Fineco SpA  | 1579 | 39065 |
| Intesa Sanpaolo SpA  | 32823 | 223008 |
| UniCredit SpA  | 2585 | 199775 |
|  |  | 496550 |
| Financial Services - 0.1% |  |  |
| Banca Mediolanum SpA  | 1734 | 37913 |
| Insurance - 0.3% |  |  |
| Generali  | 2490 | 111582 |
| TOTAL FINANCIALS |  | 646045 |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.2% |  |  |
| Leonardo SpA  | 976 | 60947 |
| Commercial Services & Supplies - 0.0% |  |  |
| doValue SpA (a)(c)(d) | 2206 | 5437 |
| Electrical Equipment - 0.1% |  |  |
| Prysmian SpA  | 264 | 40157 |
| Machinery - 0.0% |  |  |
| Interpump Group SpA  | 305 | 12808 |
| TOTAL INDUSTRIALS |  | 119349 |
| TOTAL ITALY |  | 822044 |
| JAPAN - 16.1%  |  |  |
| Communication Services - 0.5% |  |  |
| Entertainment - 0.2% |  |  |
| Nintendo Co Ltd  | 1646 | 80521 |
| Interactive Media & Services - 0.0% |  |  |
| LY Corp  | 4888 | 12856 |
| Wireless Telecommunication Services - 0.3% |  |  |
| KDDI Corp  | 4285 | 70122 |
| SoftBank Group Corp  | 660 | 22545 |
|  |  | 92667 |
| TOTAL COMMUNICATION SERVICES |  | 186044 |
| Consumer Discretionary - 2.2% |  |  |
| Automobile Components - 0.3% |  |  |
| Bridgestone Corp  | 5200 | 108062 |
| Niterra Co Ltd  | 200 | 10811 |
|  |  | 118873 |
| Automobiles - 0.6% |  |  |
| Toyota Motor Corp  | 6391 | 122678 |
| Yamaha Motor Co Ltd  | 9079 | 63771 |
|  |  | 186449 |
| Broadline Retail - 0.0% |  |  |
| Rakuten Group Inc (a) | 2207 | 10745 |
| Diversified Consumer Services - 0.0% |  |  |
| Aucnet Inc  | 2200 | 16938 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Oriental Land Co Ltd/Japan  | 3300 | 45913 |
| Household Durables - 1.0% |  |  |
| Panasonic Holdings Corp  | 11600 | 237287 |
| Sony Group Corp  | 3366 | 67439 |
|  |  | 304726 |
| Specialty Retail - 0.2% |  |  |
| Sanrio Co Ltd  | 3000 | 17483 |
| USS Co Ltd  | 2461 | 26580 |
| ZOZO Inc  | 4395 | 29497 |
|  |  | 73560 |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Asics Corp  | 245 | 6957 |
| TOTAL CONSUMER DISCRETIONARY |  | 764161 |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.0% |  |  |
| MatsukiyoCocokara & Co  | 400 | 5858 |
| YAKUODO Holdings Co Ltd  | 200 | 2257 |
|  |  | 8115 |
| Food Products - 0.5% |  |  |
| Ajinomoto Co Inc  | 4894 | 157295 |
| TOTAL CONSUMER STAPLES |  | 165410 |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| ENEOS Holdings Inc  | 5945 | 49929 |
| Financials - 3.7% |  |  |
| Banks - 2.3% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 18500 | 332313 |
| Mizuho Financial Group Inc  | 3400 | 146209 |
| Sumitomo Mitsui Financial Group Inc  | 7735 | 273116 |
| Yokohama Financial Group Inc  | 5048 | 47918 |
|  |  | 799556 |
| Capital Markets - 0.3% |  |  |
| Daiwa Securities Group Inc  | 8714 | 82024 |
| Japan Exchange Group Inc  | 1700 | 20250 |
|  |  | 102274 |
| Financial Services - 0.2% |  |  |
| ORIX Corp  | 1970 | 66303 |
| Insurance - 0.9% |  |  |
| Daiichi Life Group Inc  | 1500 | 13734 |
| Sompo Holdings Inc  | 900 | 33494 |
| Tokio Marine Holdings Inc  | 6194 | 283665 |
|  |  | 330893 |
| TOTAL FINANCIALS |  | 1299026 |
| Health Care - 1.2% |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| Hoya Corp  | 1908 | 356307 |
| Pharmaceuticals - 0.2% |  |  |
| Chugai Pharmaceutical Co Ltd  | 112 | 5973 |
| Takeda Pharmaceutical Co Ltd  | 1500 | 50149 |
|  |  | 56122 |
| TOTAL HEALTH CARE |  | 412429 |
| Industrials - 4.3% |  |  |
| Commercial Services & Supplies - 0.1% |  |  |
| CTS Co Ltd  | 2125 | 11756 |
| Pronexus Inc  | 2610 | 17882 |
|  |  | 29638 |
| Construction & Engineering - 0.0% |  |  |
| Obayashi Corp  | 600 | 14106 |
| Electrical Equipment - 0.1% |  |  |
| Fuji Electric Co Ltd  | 200 | 16809 |
| Mitsubishi Electric Corp  | 268 | 10755 |
|  |  | 27564 |
| Ground Transportation - 0.2% |  |  |
| Hankyu Hanshin Holdings Inc  | 1236 | 35830 |
| Tokyu Corp  | 3456 | 36753 |
|  |  | 72583 |
| Industrial Conglomerates - 1.0% |  |  |
| Hitachi Ltd  | 10530 | 334838 |
| Machinery - 2.0% |  |  |
| Daifuku Co Ltd  | 500 | 21861 |
| Ebara Corp  | 2527 | 86443 |
| FANUC Corp  | 1351 | 59678 |
| IHI Corp  | 577 | 10539 |
| Komatsu Ltd  | 1337 | 57248 |
| Mitsubishi Heavy Industries Ltd  | 15275 | 455897 |
|  |  | 691666 |
| Passenger Airlines - 0.0% |  |  |
| ANA Holdings Inc  | 1200 | 19942 |
| Professional Services - 0.1% |  |  |
| Recruit Holdings Co Ltd  | 1026 | 47529 |
| Trading Companies & Distributors - 0.8% |  |  |
| ITOCHU Corp  | 14670 | 181807 |
| Marubeni Corp  | 1926 | 74962 |
| Mitsui & Co Ltd  | 200 | 7509 |
|  |  | 264278 |
| TOTAL INDUSTRIALS |  | 1502144 |
| Information Technology - 3.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Azbil Corp  | 11400 | 101457 |
| Ibiden Co Ltd  | 400 | 34212 |
| Keyence Corp  | 125 | 57333 |
| Yokogawa Electric Corp  | 1906 | 66363 |
|  |  | 259365 |
| IT Services - 0.3% |  |  |
| Fujitsu Ltd  | 2120 | 42551 |
| NEC Corp  | 1643 | 43704 |
| Nomura Research Institute Ltd  | 806 | 21754 |
|  |  | 108009 |
| Semiconductors & Semiconductor Equipment - 2.2% |  |  |
| Advantest Corp  | 1500 | 280078 |
| Disco Corp  | 500 | 237891 |
| Renesas Electronics Corp  | 8232 | 166473 |
| Tokyo Electron Ltd  | 224 | 66009 |
|  |  | 750451 |
| Software - 0.0% |  |  |
| Broadleaf Co Ltd  | 589 | 3407 |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| FUJIFILM Holdings Corp  | 1284 | 23630 |
| TOTAL INFORMATION TECHNOLOGY |  | 1144862 |
| Materials - 0.3% |  |  |
| Chemicals - 0.2% |  |  |
| Asahi Kasei Corp  | 1500 | 14759 |
| Shin-Etsu Chemical Co Ltd  | 618 | 28454 |
| Toray Industries Inc  | 4409 | 31656 |
|  |  | 74869 |
| Metals & Mining - 0.1% |  |  |
| Sumitomo Metal Mining Co Ltd  | 362 | 22257 |
| TOTAL MATERIALS |  | 97126 |
| TOTAL JAPAN |  | 5621131 |
| LUXEMBOURG - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Life Sciences Tools & Services - 0.0% |  |  |
| Eurofins Scientific SE  | 216 | 14962 |
| NETHERLANDS - 4.5%  |  |  |
| Communication Services - 0.2% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| Koninklijke KPN NV  | 15558 | 83197 |
| Consumer Staples - 0.1% |  |  |
| Beverages - 0.0% |  |  |
| Heineken NV  | 233 | 18087 |
| Food Products - 0.1% |  |  |
| JDE Peet's NV  | 575 | 21494 |
| TOTAL CONSUMER STAPLES |  | 39581 |
| Industrials - 0.1% |  |  |
| Construction & Engineering - 0.0% |  |  |
| Koninklijke Heijmans N.V depository receipt (a) | 76 | 7675 |
| Professional Services - 0.1% |  |  |
| Wolters Kluwer NV  | 262 | 20448 |
| TOTAL INDUSTRIALS |  | 28123 |
| Information Technology - 4.0% |  |  |
| Semiconductors & Semiconductor Equipment - 4.0% |  |  |
| ASM International NV  | 135 | 131603 |
| ASML Holding NV  | 762 | 1101506 |
| BE Semiconductor Industries NV  | 551 | 159860 |
| TOTAL INFORMATION TECHNOLOGY |  | 1392969 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Akzo Nobel NV  | 438 | 25641 |
| TOTAL NETHERLANDS |  | 1569511 |
| NEW ZEALAND - 0.1%  |  |  |
| Utilities - 0.1% |  |  |
| Independent Power and Renewable Electricity Producers - 0.1% |  |  |
| Meridian Energy Ltd  | 6145 | 20630 |
| NORWAY - 1.0%  |  |  |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| Mowi ASA  | 2356 | 52233 |
| Orkla ASA  | 6320 | 77903 |
| TOTAL CONSUMER STAPLES |  | 130136 |
| Energy - 0.4% |  |  |
| Energy Equipment & Services - 0.0% |  |  |
| TGS ASA  | 762 | 12378 |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Aker BP ASA  | 1437 | 55931 |
| Equinor ASA  | 1586 | 64546 |
|  |  | 120477 |
| TOTAL ENERGY |  | 132855 |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| DNB Bank ASA  | 949 | 28742 |
| Industrials - 0.2% |  |  |
| Aerospace & Defense - 0.2% |  |  |
| Kongsberg Gruppen ASA  | 1838 | 61500 |
| Machinery - 0.0% |  |  |
| Kongsberg Maritime AS  | 1838 | 12046 |
| TOTAL INDUSTRIALS |  | 73546 |
| TOTAL NORWAY |  | 365279 |
| PORTUGAL - 0.4%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Galp Energia SGPS SA  | 6425 | 150512 |
| Utilities - 0.0% |  |  |
| Electric Utilities - 0.0% |  |  |
| EDP SA  | 109 | 594 |
| TOTAL PORTUGAL |  | 151106 |
| SINGAPORE - 0.9%  |  |  |
| Communication Services - 0.2% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| Singapore Telecommunications Ltd  | 16864 | 61078 |
| Financials - 0.5% |  |  |
| Banks - 0.2% |  |  |
| DBS Group Holdings Ltd  | 200 | 9222 |
| United Overseas Bank Ltd  | 2153 | 61315 |
|  |  | 70537 |
| Capital Markets - 0.3% |  |  |
| Singapore Exchange Ltd  | 4900 | 83784 |
| TOTAL FINANCIALS |  | 154321 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.0% |  |  |
| Singapore Technologies Engineering Ltd  | 1622 | 13746 |
| Ground Transportation - 0.0% |  |  |
| Grab Holdings Ltd Class A (a) | 178 | 680 |
| Industrial Conglomerates - 0.1% |  |  |
| Keppel Ltd  | 3786 | 32406 |
| TOTAL INDUSTRIALS |  | 46832 |
| Information Technology - 0.1% |  |  |
| Semiconductors & Semiconductor Equipment - 0.1% |  |  |
| STMicroelectronics NV  | 880 | 47525 |
| Real Estate - 0.0% |  |  |
| Office REITs - 0.0% |  |  |
| Keppel REIT (b) | 420 | 296 |
| Real Estate Management & Development - 0.0% |  |  |
| CapitaLand Investment Ltd/Singapore  | 61 | 133 |
| TOTAL REAL ESTATE |  | 429 |
| TOTAL SINGAPORE |  | 310185 |
| SPAIN - 3.7%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Cellnex Telecom SA (c)(d) | 918 | 30902 |
| Consumer Discretionary - 0.2% |  |  |
| Hotels, Restaurants & Leisure - 0.2% |  |  |
| Amadeus IT Group SA Class A  | 1327 | 76571 |
| Specialty Retail - 0.0% |  |  |
| Industria de Diseno Textil SA  | 91 | 5402 |
| TOTAL CONSUMER DISCRETIONARY |  | 81973 |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Repsol SA  | 2735 | 73465 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| Banco Bilbao Vizcaya Argentaria SA  | 132 | 2915 |
| Banco Santander SA  | 36080 | 439544 |
| Bankinter SA  | 2536 | 42160 |
| CaixaBank SA  | 23244 | 295858 |
| TOTAL FINANCIALS |  | 780477 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| Clinica Baviera SA  | 104 | 6811 |
| Industrials - 0.1% |  |  |
| Construction & Engineering - 0.1% |  |  |
| ACS Actividades de Construccion y Servicios SA  | 230 | 33095 |
| Utilities - 0.9% |  |  |
| Electric Utilities - 0.9% |  |  |
| Acciona SA  | 137 | 39779 |
| Endesa SA  | 836 | 37471 |
| Iberdrola SA  | 9768 | 229004 |
| TOTAL UTILITIES |  | 306254 |
| TOTAL SPAIN |  | 1312977 |
| SWEDEN - 3.4%  |  |  |
| Communication Services - 0.2% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| Telia Co AB  | 14176 | 74099 |
| Consumer Discretionary - 0.0% |  |  |
| Hotels, Restaurants & Leisure - 0.0% |  |  |
| Evolution AB (c) | 228 | 16068 |
| Financials - 0.1% |  |  |
| Capital Markets - 0.1% |  |  |
| EQT AB  | 1062 | 34117 |
| Financial Services - 0.0% |  |  |
| Investor AB B Shares  | 9 | 362 |
| TOTAL FINANCIALS |  | 34479 |
| Industrials - 2.4% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| INVISIO AB  | 1014 | 29214 |
| Building Products - 0.6% |  |  |
| Assa Abloy AB B Shares  | 4745 | 180595 |
| Nibe Industrier AB B Shares  | 3111 | 13923 |
|  |  | 194518 |
| Machinery - 1.3% |  |  |
| Atlas Copco AB A Shares  | 9066 | 171054 |
| Epiroc AB A Shares  | 5440 | 157051 |
| Epiroc AB B Shares  | 1198 | 29610 |
| Sandvik AB  | 2187 | 90746 |
|  |  | 448461 |
| Trading Companies & Distributors - 0.4% |  |  |
| AddTech AB B Shares  | 3676 | 132743 |
| Bergman & Beving AB B Shares  | 720 | 24369 |
|  |  | 157112 |
| TOTAL INDUSTRIALS |  | 829305 |
| Information Technology - 0.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Lagercrantz Group AB B Shares  | 2283 | 59642 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.3% |  |  |
| Boliden AB  | 2305 | 119859 |
| Paper & Forest Products - 0.2% |  |  |
| Svenska Cellulosa AB SCA B Shares  | 4724 | 53724 |
| TOTAL MATERIALS |  | 173583 |
| TOTAL SWEDEN |  | 1187176 |
| SWITZERLAND - 3.7%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Textiles, Apparel & Luxury Goods - 0.0% |  |  |
| Cie Financiere Richemont SA Series A  | 7 | 1342 |
| Financials - 1.2% |  |  |
| Banks - 0.0% |  |  |
| Banque Cantonale Vaudoise  | 6 | 946 |
| Capital Markets - 0.0% |  |  |
| Julius Baer Group Ltd  | 12 | 986 |
| Insurance - 1.2% |  |  |
| Swiss Life Holding AG  | 66 | 77441 |
| Zurich Insurance Group AG  | 485 | 338153 |
|  |  | 415594 |
| TOTAL FINANCIALS |  | 417526 |
| Health Care - 0.4% |  |  |
| Health Care Equipment & Supplies - 0.1% |  |  |
| Sonova Holding AG  | 173 | 37906 |
| Life Sciences Tools & Services - 0.2% |  |  |
| Lonza Group AG  | 131 | 80542 |
| Pharmaceuticals - 0.1% |  |  |
| Galderma Group AG  | 110 | 23077 |
| TOTAL HEALTH CARE |  | 141525 |
| Industrials - 1.5% |  |  |
| Building Products - 0.1% |  |  |
| Belimo Holding AG  | 40 | 36501 |
| Electrical Equipment - 1.1% |  |  |
| ABB Ltd  | 3805 | 384837 |
| Machinery - 0.1% |  |  |
| VAT Group AG (c)(d) | 57 | 42530 |
| Marine Transportation - 0.1% |  |  |
| Kuehne + Nagel International AG  | 97 | 22681 |
| Professional Services - 0.1% |  |  |
| SGS SA  | 380 | 41164 |
| TOTAL INDUSTRIALS |  | 527713 |
| Information Technology - 0.1% |  |  |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| Logitech International SA  | 428 | 42036 |
| Materials - 0.2% |  |  |
| Chemicals - 0.2% |  |  |
| Givaudan SA  | 12 | 42772 |
| Sika AG  | 107 | 19738 |
| TOTAL MATERIALS |  | 62510 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| Swiss Prime Site AG  | 611 | 105802 |
| TOTAL SWITZERLAND |  | 1298454 |
| TAIWAN - 1.7%  |  |  |
| Information Technology - 1.7% |  |  |
| Semiconductors & Semiconductor Equipment - 1.7% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 8446 | 588203 |
| UNITED KINGDOM - 11.9%  |  |  |
| Communication Services - 0.4% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| Autotrader Group PLC (c)(d) | 3808 | 25616 |
| Media - 0.3% |  |  |
| Informa PLC  | 10672 | 115101 |
| TOTAL COMMUNICATION SERVICES |  | 140717 |
| Consumer Discretionary - 1.0% |  |  |
| Automobile Components - 0.0% |  |  |
| AB Dynamics PLC  | 1155 | 15292 |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 6539 | 184727 |
| Entain PLC  | 5217 | 38590 |
|  |  | 223317 |
| Household Durables - 0.1% |  |  |
| Barratt Redrow PLC  | 11373 | 38734 |
| Leisure Products - 0.1% |  |  |
| Games Workshop Group PLC  | 186 | 49329 |
| Specialty Retail - 0.1% |  |  |
| Kingfisher PLC  | 9753 | 38352 |
| TOTAL CONSUMER DISCRETIONARY |  | 365024 |
| Consumer Staples - 0.7% |  |  |
| Beverages - 0.2% |  |  |
| Diageo PLC  | 3955 | 79968 |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| J Sainsbury PLC  | 9429 | 42187 |
| Marks & Spencer Group PLC  | 3586 | 16107 |
| Tesco PLC  | 6321 | 41463 |
|  |  | 99757 |
| Personal Care Products - 0.2% |  |  |
| Unilever PLC  | 1083 | 63155 |
| TOTAL CONSUMER STAPLES |  | 242880 |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| DCC PLC  | 367 | 27667 |
| Financials - 3.3% |  |  |
| Banks - 2.2% |  |  |
| Barclays PLC  | 7089 | 41669 |
| HSBC Holdings PLC  | 10952 | 201515 |
| Lloyds Banking Group PLC  | 159334 | 216583 |
| NatWest Group PLC  | 22230 | 177304 |
| Standard Chartered PLC  | 5000 | 127324 |
|  |  | 764395 |
| Capital Markets - 0.5% |  |  |
| 3i Group PLC  | 2096 | 72894 |
| London Stock Exchange Group PLC  | 601 | 78101 |
| Schroders PLC  | 510 | 4025 |
| St James's Place PLC  | 1907 | 31619 |
|  |  | 186639 |
| Insurance - 0.6% |  |  |
| Admiral Group PLC  | 499 | 22937 |
| Aviva PLC  | 8547 | 72528 |
| Beazley PLC  | 3625 | 62941 |
| Legal & General Group PLC  | 14702 | 50354 |
|  |  | 208760 |
| TOTAL FINANCIALS |  | 1159794 |
| Health Care - 1.5% |  |  |
| Pharmaceuticals - 1.5% |  |  |
| Astrazeneca PLC  | 1634 | 310129 |
| GSK PLC  | 8627 | 226178 |
| TOTAL HEALTH CARE |  | 536307 |
| Industrials - 3.4% |  |  |
| Aerospace & Defense - 1.9% |  |  |
| Avon Technologies PLC  | 2515 | 59000 |
| BAE Systems PLC  | 21763 | 605307 |
| Melrose Industries PLC  | 795 | 5209 |
|  |  | 669516 |
| Commercial Services & Supplies - 0.1% |  |  |
| Rentokil Initial PLC  | 4189 | 28241 |
| Industrial Conglomerates - 0.5% |  |  |
| Smiths Group PLC  | 4774 | 165264 |
| Machinery - 0.0% |  |  |
| Bodycote PLC  | 2479 | 22972 |
| Marine Transportation - 0.0% |  |  |
| Clarkson PLC  | 206 | 13556 |
| Professional Services - 0.2% |  |  |
| RELX PLC  | 2100 | 76579 |
| Trading Companies & Distributors - 0.7% |  |  |
| Diploma PLC  | 1412 | 133344 |
| Howden Joinery Group PLC  | 9361 | 98974 |
|  |  | 232318 |
| TOTAL INDUSTRIALS |  | 1208446 |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Halma PLC  | 1060 | 63566 |
| Oxford Instruments PLC  | 357 | 14020 |
|  |  | 77586 |
| Software - 0.1% |  |  |
| Sage Group PLC/The  | 3810 | 45441 |
| TOTAL INFORMATION TECHNOLOGY |  | 123027 |
| Materials - 0.1% |  |  |
| Metals & Mining - 0.1% |  |  |
| Hill & Smith PLC  | 551 | 19268 |
| Real Estate - 0.2% |  |  |
| Diversified REITs - 0.1% |  |  |
| Land Securities Group PLC  | 2904 | 23366 |
| Industrial REITs - 0.1% |  |  |
| Segro PLC  | 4501 | 42567 |
| TOTAL REAL ESTATE |  | 65933 |
| Utilities - 0.9% |  |  |
| Electric Utilities - 0.7% |  |  |
| SSE PLC  | 6259 | 224100 |
| Multi-Utilities - 0.2% |  |  |
| National Grid PLC  | 4869 | 87158 |
| TOTAL UTILITIES |  | 311258 |
| TOTAL UNITED KINGDOM |  | 4200321 |
| UNITED STATES - 9.9%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| InterContinental Hotels Group PLC  | 720 | 103032 |
| InterContinental Hotels Group PLC ADR  | 1037 | 149204 |
|  |  | 252236 |
| Leisure Products - 0.1% |  |  |
| BRP Inc Subordinate Voting Shares  | 433 | 24229 |
| TOTAL CONSUMER DISCRETIONARY |  | 276465 |
| Energy - 1.1% |  |  |
| Oil, Gas & Consumable Fuels - 1.1% |  |  |
| Shell PLC  | 3674 | 167045 |
| Shell PLC ADR  | 1866 | 169190 |
| Sunococorp LLC  | 979 | 65280 |
| TOTAL ENERGY |  | 401515 |
| Financials - 0.1% |  |  |
| Financial Services - 0.0% |  |  |
| Visa Inc Class A  | 28 | 9235 |
| Insurance - 0.1% |  |  |
| Aegon Ltd  | 706 | 5850 |
| Swiss Re AG  | 193 | 31111 |
|  |  | 36961 |
| TOTAL FINANCIALS |  | 46196 |
| Health Care - 2.3% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Alcon AG  | 1016 | 75704 |
| Life Sciences Tools & Services - 0.1% |  |  |
| QIAGEN NV (Germany)  | 851 | 28999 |
| Pharmaceuticals - 2.0% |  |  |
| Novartis AG  | 2281 | 337108 |
| Roche Holding AG  | 886 | 361046 |
| Roche Holding AG bearer shares  | 33 | 13794 |
|  |  | 711948 |
| TOTAL HEALTH CARE |  | 816651 |
| Industrials - 2.7% |  |  |
| Commercial Services & Supplies - 0.0% |  |  |
| GFL Environmental Inc Subordinate Voting Shares  | 217 | 8707 |
| Electrical Equipment - 2.5% |  |  |
| GE Vernova Inc  | 256 | 277365 |
| Schneider Electric SE  | 1914 | 609052 |
|  |  | 886417 |
| Trading Companies & Distributors - 0.2% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 181 | 47806 |
| Sunbelt Rentals Holdings Inc (United Kingdom)  | 237 | 17815 |
|  |  | 65621 |
| TOTAL INDUSTRIALS |  | 960745 |
| Materials - 2.9% |  |  |
| Chemicals - 0.9% |  |  |
| Linde PLC  | 495 | 248064 |
| Sherwin-Williams Co/The  | 228 | 73327 |
|  |  | 321391 |
| Construction Materials - 2.0% |  |  |
| CRH PLC  | 5658 | 670021 |
| TOTAL MATERIALS |  | 991412 |
| TOTAL UNITED STATES |  | 3492984 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $25,985,127) |  | <br> **32931439** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 7.6%** | &nbsp;&nbsp;**Money Market Funds - 7.6%** | &nbsp;&nbsp;**Money Market Funds - 7.6%** | &nbsp;&nbsp;**Money Market Funds - 7.6%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e)<br>(Cost $2,671,866)<br>| 3.69 | 2671332 | **2671866** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.2%**<br> (Cost $28,656,993)<br>| <br>**35603305** |
| **NET OTHER ASSETS (LIABILITIES) - (1.2)%**  | **(411435)** |
| **NET ASSETS - 100.0%** | **35191870** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  | &nbsp;&nbsp;**Futures Contracts**  |
|  | Number <br> of contracts | Expiration <br> Date | Notional <br> Amount ($)<br>| Unrealized<br> Appreciation/<br> (Depreciation) ($)<br>|
| LONG |  |  |  |  |
| Equity Contracts |  |  |  |  |
| ICE MSCI EAFE Index Contracts (United States) | 11 | 6/2026 | 1675355 | 68058 |
| The notional amount of long futures as a percentage of Net Assets is 4.8%. | The notional amount of long futures as a percentage of Net Assets is 4.8%. | The notional amount of long futures as a percentage of Net Assets is 4.8%. | The notional amount of long futures as a percentage of Net Assets is 4.8%. | The notional amount of long futures as a percentage of Net Assets is 4.8%. |

---

**Legend**

(a) Non-income producing.

(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(c) 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 $161,810 or 0.5% of net assets.

(d) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $145,742 or 0.4% of net assets.

(e) 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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 1089069 | 7519474 | 5936664 | 20200 | (13) | - | 2671866 | 2671332 | 0.0% |
| Total | 1089069 | 7519474 | 5936664 | 20200 | (13) | - | 2671866 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 630880 | 211858 | 419022 | - |
| Consumer Discretionary | 2085718 | 1035027 | 1050691 | - |
| Consumer Staples | 1190310 | 814353 | 375957 | - |
| Energy | 1765886 | 1340899 | 424987 | - |
| Financials | 8998195 | 4276174 | 4722021 | - |
| Health Care | 2300862 | 1091003 | 1209859 | - |
| Industrials | 7867301 | 3311050 | 4556251 | - |
| Information Technology | 4233617 | 1114548 | 3119069 | - |
| Materials | 2827197 | 2438635 | 388562 | - |
| Real Estate | 369272 | 245393 | 123879 | - |
| Utilities | 662201 | 101309 | 560892 | - |
|  **Money Market Funds** | 2671866 | 2671866 | - | - |
| **Total Investments in Securities:** | 35603305 | 18652115 | 16951190 | - |
| **<u>Derivative Instruments:</u>** |  |  |  |  |
|  **Assets** |  |  |  |  |
| Futures Contracts | 68058 | 68058 | - | - |
| Total Assets | 68058 | 68058 | - | - |
| **Total Derivative Instruments:** | 68058 | 68058 | - | - |

---

**Value of Derivative Instruments**

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2026. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

---

| | | |
|:---|:---|:---|
| **Primary Risk Exposure / Derivative Type** <br>| **Value** | **Value** |
|  | **Asset ($)** | **Liability ($)** |
| **Equity Risk** |  |  |
| Futures Contracts (a)  | 68058 | - |
| **Total Equity Risk**  | 68058 | - |
| **Total Value of Derivatives** | 68058 | - |

---

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

**Fidelity® Series Sustainable Non-U.S. Developed Markets Fund**

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $25,985,127) | $32931439 |  |
| Fidelity Central Funds (cost $2,671,866) | 2671866 |  |
| Total Investment in Securities (cost $28,656,993) |  | $35603305 |
| Segregated cash with brokers for derivative instruments |  | 84765 |
| Cash |  | 49 |
| Foreign currency held at value (cost $14,640) |  | 14642 |
| Receivable for investments sold |  | 297067 |
| Receivable for fund shares sold |  | 115079 |
| Dividends receivable |  | 120939 |
| Reclaims receivable |  | 23989 |
| Interest receivable |  | 13 |
| Distributions receivable from Fidelity Central Funds |  | 6591 |
| Receivable for variation margin on futures contracts |  | 57176 |
| Receivable from investment adviser for expense reductions |  | 776 |
| **Total assets** |  | 36324391 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $785009 |  |
| Delayed delivery | 1176 |  |
| Payable for fund shares redeemed | 343042 |  |
| Other payables and accrued expenses | 3294 |  |
| **Total liabilities** |  | 1132521 |
| **Net Assets**  |  | $35191870 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $27970110 |
| Total accumulated earnings (loss) |  | 7221760 |
| **Net Assets** |  | $35191870 |
| **Net Asset Value**, offering price and redemption price per share ($35,191,870 ÷ 2,391,484 shares) |  | $14.72 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $355665 |
| Interest  |  | 329 |
| Income from Fidelity Central Funds  |  | 20200 |
| Income before foreign taxes withheld |  | $376194 |
| Less foreign taxes withheld |  | (43533) |
| **Total income** |  | 332661 |
| **Expenses** |  |  |
| Custodian fees and expenses | $9405 |  |
| Independent trustees' fees and expenses | 46 |  |
| Total expenses before reductions | 9451 |  |
| Expense reductions | (7742) |  |
| Total expenses after reductions |  | 1709 |
| **Net Investment income (loss)** |  | 330952 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 232219 |  |
| Fidelity Central Funds | (13) |  |
| Foreign currency transactions | 6273 |  |
| Futures contracts | (71142) |  |
| Total net realized gain (loss) |  | 167337 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 1985374 |  |
| Assets and liabilities in foreign currencies | 2844 |  |
| Futures contracts | 68058 |  |
| Total change in net unrealized appreciation (depreciation) |  | 2056276 |
| **Net gain (loss)** |  | 2223613 |
| **Net increase (decrease) in net assets resulting from operations** |  | $2554565 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $330952 | $505682 |
| &nbsp;&nbsp;Net realized gain (loss) | 167337<br>| 30606<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 2056276 | 3914291<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 2554565<br>| 4450579<br>|
| Distributions to shareholders | (670328)<br>| (330622)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 8484580 | 13280048 |
| Reinvestment of distributions | 670328<br>| 330622<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (4508575) | (4800901) |
| **Net increase (decrease) in net assets resulting from share transactions** | 4646333<br>| 8809769<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 6530570<br>| 12929726<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 28661300 | 15731574<br>|
| &nbsp;&nbsp;End of period | $35191870 | $28661300 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 596631 | 1052663 |
| Issued in reinvestment of distributions | 49036<br>| 28650<br>|
| &nbsp;&nbsp;Redeemed | (315149) | (379943) |
| &nbsp;&nbsp;Net increase (decrease) | 330518 | 701370 |

---

**Financial Highlights** 

**Fidelity® Series Sustainable Non-U.S. Developed Markets Fund** <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023** A |
| **Selected Per-Share Data**  |  |  |  |  |
| Net asset value, beginning of period  | $13.91 | $11.57 | $9.34 | $10.00 |
| Income from Investment Operations  |  |  |  |  |
| Net investment income (loss) B,C | .15  | .30  | .26  | .11  |
| Net realized and unrealized gain (loss)  | .99  | 2.28  | 2.10  | (.77)  |
| Total from investment operations  | 1.14  | 2.58  | 2.36  | (.66)  |
| Distributions from net investment income  | (.33)  | (.24)  | (.13)  | -  |
| Total distributions  | (.33)  | (.24)  | (.13)  | -  |
| Net asset value, end of period  | $14.72 | $13.91 | $11.57 | $9.34 |
| **Total Return** D,E | 8.38% <br>| 22.75%  | 25.41%  | (6.60)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |
| Expenses before reductions  | .06% H | .10%  | .17%  | .29% H |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01% H |
| Expenses net of all reductions, if any  | .01% H | .01%  | .01%  | .01% H |
| Net investment income (loss)  | 2.14% H | 2.34%  | 2.32%  | 2.35% H |
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000 omitted) | $35192 | $28661 | $15732 | $6844 |
| Portfolio turnover rate I | 64% H<br>| 39%  | 33%  | 8% J |

---

A*For the period May 11, 2023 (commencement of operations) through October 31, 2023.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

E*Total returns for periods of less than one year are not annualized.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

J*Amount not annualized.*

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Series Sustainable Emerging Markets Fund and Fidelity Series Sustainable Non-U.S. Developed Markets Fund (the Funds) are funds of Fidelity Investment Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Each Fund is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Each Fund operates as a single operating segment. Each Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each 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, each 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 each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

Each Fund categorizes the inputs to valuation techniques used to value its investments 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 each 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 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 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.

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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of each Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable or reclaims receivable as applicable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards, future transactions and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Tax cost ($)**  | **Gross unrealized appreciation ($)** | **Gross unrealized depreciation ($)** | **Net unrealized appreciation (depreciation)($)** |
| **Fidelity Series Sustainable Emerging Markets Fund**  | 15141960 | 6354289 | (650610) | 5703679 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | 28782520 | 7831455 | (942612) | 6888843 |

---

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-term ($)** | **Long-term ($)** | **Total capital loss carryforward ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund**  | (3128) | - | (3128) |

---

**Delayed Delivery Transactions and When-Issued Securities.** During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Derivative Instruments.**

**Risk Exposures and the Use of Derivative Instruments.** Each Fund's investment objectives allow for various types of derivative instruments, including futures 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.

Derivatives were used to increase returns and 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 objectives may not be achieved.

Derivatives were used to increase or decrease 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.<br>|

---

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

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 and amounts recognized in the Statement of Assets and Liabilities. 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 fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily. Subsequent payments from or to a fund are made or as needed depending on the fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.

Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

**5. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund** | 8649137 | 7519148 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | 12202416 | 9682085 |

---

**6. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management related services for which the Funds do not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Funds, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund** | 19 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | 1 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below. During the period, there were no interfund trades.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund** | 73118 | 274391 | 19300 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | 501541 | 534523 | (71987) |

---

**7. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**8. Expense Reductions.** 

The investment adviser contractually agreed to reimburse each Fund to the extent annual operating expenses exceeded certain levels of average net assets as noted in the table below. This reimbursement will remain in place through February 28, 2029. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement.

The following Funds were in reimbursement during the period:

---

| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund** | .013% | 16119 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | .013% | 7398 |

---

Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.

---

| | |
|:---|:---|
|  | **Custodian credits ($)** |
| **Fidelity Series Sustainable Emerging Markets Fund**  | 182 |
| **Fidelity Series Sustainable Non-U.S. Developed Markets Fund**  | 344 |

---

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Funds.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131311_4.jpg)<br>

1.9908949.102 SMKC-SANN-0626

**Fidelity® Series Select International Small Cap Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131310_1.jpg)

![](img131310_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_SSI-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Series Select International Small Cap Fund](#Sub_Sec_Fund_6955_SSI-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6955_SSI-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SSI-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SSI-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SSI-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SSI-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Series Select International Small Cap Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.7%** | &nbsp;&nbsp;**Common Stocks - 97.7%** | &nbsp;&nbsp;**Common Stocks - 97.7%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 7.5%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Automobile Components - 0.3% |  |  |
| Amotiv Ltd  | 198293 | 922305 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Whitehaven Coal Ltd  | 273110 | 1668875 |
| Financials - 1.4% |  |  |
| Insurance - 1.4% |  |  |
| AUB Group Ltd  | 41382 | 770693 |
| nib holdings Ltd/Australia  | 342247 | 1652841 |
| Steadfast Group Ltd  | 469201 | 1443184 |
| TOTAL FINANCIALS |  | 3866718 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Ansell Ltd  | 45767 | 877962 |
| Industrials - 1.4% |  |  |
| Construction & Engineering - 0.6% |  |  |
| Ventia Services Group Pty Ltd  | 418146 | 1609728 |
| Professional Services - 0.8% |  |  |
| ALS Ltd  | 140862 | 2199538 |
| TOTAL INDUSTRIALS |  | 3809266 |
| Materials - 3.0% |  |  |
| Chemicals - 0.7% |  |  |
| Dyno Nobel Ltd  | 777056 | 1845120 |
| Metals & Mining - 2.3% |  |  |
| Evolution Mining Ltd  | 235165 | 2079128 |
| Iluka Resources Ltd  | 69374 | 412743 |
| Imdex Ltd  | 603158 | 1774236 |
| Sandfire Resources Ltd (a) | 184919 | 2234119 |
|  |  | 6500226 |
| TOTAL MATERIALS |  | 8345346 |
| Real Estate - 0.5% |  |  |
| Diversified REITs - 0.5% |  |  |
| GPT Group/The unit  | 421162 | 1452523 |
| TOTAL AUSTRALIA |  | 20942995 |
| AUSTRIA - 1.5%  |  |  |
| Information Technology - 1.2% |  |  |
| Electronic Equipment, Instruments & Components - 1.2% |  |  |
| AT&S Austria Technologie & Systemtechnik AG (a) | 30627 | 3371677 |
| Materials - 0.3% |  |  |
| Construction Materials - 0.3% |  |  |
| Wienerberger AG (d) | 30562 | 883814 |
| TOTAL AUSTRIA |  | 4255491 |
| BELGIUM - 1.9%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| KBC Ancora  | 18729 | 1707945 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.6% |  |  |
| Fagron  | 61065 | 1720055 |
| Real Estate - 0.7% |  |  |
| Industrial REITs - 0.7% |  |  |
| Warehouses De Pauw CVA  | 64798 | 1703524 |
| Warehouses De Pauw CVA rights (a)(e) | 64798 | 93542 |
| TOTAL REAL ESTATE |  | 1797066 |
| TOTAL BELGIUM |  | 5225066 |
| DENMARK - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| FLSmidth & Co A/S  | 15700 | 1163849 |
| FINLAND - 2.6%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Broadline Retail - 0.4% |  |  |
| Puuilo Oyj  | 79571 | 1214051 |
| Industrials - 0.7% |  |  |
| Machinery - 0.7% |  |  |
| Konecranes Oyj A Shares  | 56511 | 1853096 |
| Materials - 0.7% |  |  |
| Chemicals - 0.4% |  |  |
| Kemira Oyj  | 51711 | 1071189 |
| Containers & Packaging - 0.3% |  |  |
| Huhtamaki Oyj  | 28278 | 904718 |
| TOTAL MATERIALS |  | 1975907 |
| Utilities - 0.8% |  |  |
| Electric Utilities - 0.8% |  |  |
| Fortum Oyj  | 90175 | 2269079 |
| TOTAL FINLAND |  | 7312133 |
| FRANCE - 3.6%  |  |  |
| Communication Services - 0.3% |  |  |
| Media - 0.3% |  |  |
| IPSOS SA  | 22052 | 932246 |
| Energy - 1.0% |  |  |
| Energy Equipment & Services - 1.0% |  |  |
| Vallourec SACA  | 94111 | 2833129 |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Virbac SACA  | 3569 | 1556123 |
| Industrials - 1.3% |  |  |
| Commercial Services & Supplies - 0.6% |  |  |
| Elis SA  | 56155 | 1730699 |
| Trading Companies & Distributors - 0.7% |  |  |
| Rexel SA  | 45793 | 1921920 |
| TOTAL INDUSTRIALS |  | 3652619 |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Vicat SACA  | 17224 | 1212897 |
| TOTAL FRANCE |  | 10187014 |
| GERMANY - 3.2%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Automobile Components - 0.6% |  |  |
| SAF-Holland SE (d) | 77789 | 1599524 |
| Industrials - 0.5% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Hensoldt AG (d) | 12528 | 1130451 |
| Machinery - 0.1% |  |  |
| Stabilus SE  | 13105 | 264855 |
| TOTAL INDUSTRIALS |  | 1395306 |
| Information Technology - 0.7% |  |  |
| IT Services - 0.3% |  |  |
| Bechtle AG  | 27300 | 930460 |
| Software - 0.4% |  |  |
| Mensch und Maschine Software SE  | 19918 | 935071 |
| TOTAL INFORMATION TECHNOLOGY |  | 1865531 |
| Materials - 1.1% |  |  |
| Chemicals - 0.5% |  |  |
| Wacker Chemie AG (d) | 11800 | 1296965 |
| Metals & Mining - 0.6% |  |  |
| Aurubis AG  | 8200 | 1764067 |
| TOTAL MATERIALS |  | 3061032 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| Patrizia SE  | 104325 | 915859 |
| TOTAL GERMANY |  | 8837252 |
| HONG KONG - 2.1%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| Luk Fook Holdings International Ltd  | 463635 | 1329672 |
| Industrials - 0.3% |  |  |
| Marine Transportation - 0.3% |  |  |
| Pacific Basin Shipping Ltd  | 2272235 | 889090 |
| Information Technology - 0.9% |  |  |
| Semiconductors & Semiconductor Equipment - 0.9% |  |  |
| ASMPT Ltd  | 120925 | 2533066 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Hysan Development Co Ltd  | 421383 | 1056322 |
| TOTAL HONG KONG |  | 5808150 |
| ISRAEL - 3.2%  |  |  |
| Communication Services - 1.1% |  |  |
| Diversified Telecommunication Services - 1.1% |  |  |
| Bezeq The Israeli Telecommunication Corp Ltd  | 1164038 | 3171364 |
| Consumer Staples - 0.8% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Rami Levy Chain Stores Hashikma Marketing 2006 Ltd  | 18173 | 2244075 |
| Information Technology - 1.3% |  |  |
| Semiconductors & Semiconductor Equipment - 1.3% |  |  |
| Nova Ltd (Israel) (a) | 7162 | 3533926 |
| TOTAL ISRAEL |  | 8949365 |
| ITALY - 3.2%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| RAI Way SpA (b)(c) | 180932 | 1299587 |
| Consumer Discretionary - 0.8% |  |  |
| Automobile Components - 0.8% |  |  |
| Brembo NV  | 127054 | 1192936 |
| Pirelli & C SpA (b)(c) | 170700 | 1172001 |
| TOTAL CONSUMER DISCRETIONARY |  | 2364937 |
| Financials - 0.8% |  |  |
| Capital Markets - 0.8% |  |  |
| Banca Generali SpA  | 34841 | 2279681 |
| Health Care - 0.8% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| GVS SpA (a)(b)(c)(d) | 184676 | 916831 |
| Pharmaceuticals - 0.5% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 24267 | 1413795 |
| TOTAL HEALTH CARE |  | 2330626 |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| Avio SpA (b) | 21683 | 802638 |
| TOTAL ITALY |  | 9077469 |
| JAPAN - 38.3%  |  |  |
| Communication Services - 1.0% |  |  |
| Entertainment - 0.3% |  |  |
| Daiichikosho Co Ltd  | 92131 | 958279 |
| Wireless Telecommunication Services - 0.7% |  |  |
| Okinawa Cellular Telephone Co  | 85456 | 1828756 |
| TOTAL COMMUNICATION SERVICES |  | 2787035 |
| Consumer Discretionary - 4.9% |  |  |
| Automobile Components - 0.8% |  |  |
| Shoei Co Ltd  | 110692 | 1233262 |
| Stanley Electric Co Ltd  | 51174 | 998757 |
|  |  | 2232019 |
| Distributors - 0.5% |  |  |
| PALTAC Corp  | 42752 | 1262800 |
| Hotels, Restaurants & Leisure - 1.2% |  |  |
| Food & Life Cos Ltd  | 38011 | 2211139 |
| Kyoritsu Maintenance Co Ltd  | 67258 | 1023293 |
|  |  | 3234432 |
| Household Durables - 1.4% |  |  |
| Haseko Corp  | 105448 | 1820985 |
| Nikon Corp (d) | 108543 | 1200876 |
| Rinnai Corp  | 43209 | 982008 |
|  |  | 4003869 |
| Leisure Products - 0.3% |  |  |
| Sega Sammy Holdings Inc  | 64583 | 936302 |
| Specialty Retail - 0.7% |  |  |
| Nextage Co Ltd  | 92901 | 2039209 |
| TOTAL CONSUMER DISCRETIONARY |  | 13708631 |
| Consumer Staples - 2.2% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| Tsuruha Holdings Inc  | 89300 | 1177418 |
| Food Products - 1.5% |  |  |
| Kotobuki Spirits Co Ltd  | 106009 | 1356747 |
| Morinaga & Co Ltd/Japan  | 68616 | 1170868 |
| Toyo Suisan Kaisha Ltd  | 22224 | 1526399 |
|  |  | 4054014 |
| Personal Care Products - 0.3% |  |  |
| Milbon Co Ltd  | 50654 | 826389 |
| TOTAL CONSUMER STAPLES |  | 6057821 |
| Energy - 1.0% |  |  |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| Itochu Enex Co Ltd  | 109600 | 1333642 |
| San-Ai Obbli Co Ltd  | 91400 | 1344928 |
| TOTAL ENERGY |  | 2678570 |
| Financials - 3.6% |  |  |
| Banks - 3.0% |  |  |
| Hokuhoku Financial Group Inc  | 92687 | 3533503 |
| Kyoto Financial Group Inc  | 75488 | 2086575 |
| Suruga Bank Ltd  | 193096 | 2863029 |
|  |  | 8483107 |
| Financial Services - 0.6% |  |  |
| Zenkoku Hosho Co Ltd  | 83772 | 1686519 |
| TOTAL FINANCIALS |  | 10169626 |
| Health Care - 2.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Nagaileben Co Ltd  | 55779 | 605041 |
| Health Care Providers & Services - 1.0% |  |  |
| As One Corp  | 93904 | 1302173 |
| H.U. Group Holdings Inc  | 73316 | 1462789 |
|  |  | 2764962 |
| Pharmaceuticals - 1.2% |  |  |
| Kissei Pharmaceutical Co Ltd  | 34988 | 976158 |
| Santen Pharmaceutical Co Ltd  | 99300 | 1023334 |
| Sawai Group Holdings Co Ltd  | 98677 | 1328838 |
|  |  | 3328330 |
| TOTAL HEALTH CARE |  | 6698333 |
| Industrials - 9.9% |  |  |
| Building Products - 1.0% |  |  |
| Nichias Corp  | 85500 | 1696422 |
| Sanwa Holdings Corp  | 52570 | 1202415 |
|  |  | 2898837 |
| Commercial Services & Supplies - 1.0% |  |  |
| Daiei Kankyo Co Ltd  | 61707 | 1482317 |
| Park24 Co Ltd  | 104375 | 1227397 |
|  |  | 2709714 |
| Construction & Engineering - 0.9% |  |  |
| Penta-Ocean Construction Co Ltd  | 234101 | 2622927 |
| Electrical Equipment - 1.1% |  |  |
| SWCC Corp  | 30661 | 3138359 |
| Ground Transportation - 0.4% |  |  |
| Kyushu Railway Co  | 51112 | 1173224 |
| Machinery - 3.3% |  |  |
| Daihatsu Diesel Manufacturing Co Ltd  | 80445 | 1534375 |
| Galilei Co Ltd  | 51709 | 1178165 |
| Hosokawa Micron Corp  | 47894 | 1815902 |
| Japan Steel Works Ltd/The  | 17600 | 1075548 |
| Meidensha Corp  | 34061 | 1860951 |
| Takeuchi Manufacturing Co Ltd  | 31373 | 1414259 |
|  |  | 8879200 |
| Professional Services - 0.6% |  |  |
| Timee Inc (a)(d) | 72700 | 590656 |
| Visional Inc (a) | 21000 | 991659 |
|  |  | 1582315 |
| Trading Companies & Distributors - 1.0% |  |  |
| Inaba Denki Sangyo Co Ltd  | 105468 | 1779228 |
| Sojitz Corp  | 27500 | 1030005 |
|  |  | 2809233 |
| Transportation Infrastructure - 0.6% |  |  |
| Kamigumi Co Ltd  | 53510 | 1768525 |
| TOTAL INDUSTRIALS |  | 27582334 |
| Information Technology - 4.9% |  |  |
| Electronic Equipment, Instruments & Components - 3.4% |  |  |
| Alps Alpine Co Ltd  | 11300 | 169570 |
| Anritsu Corp  | 92697 | 2426542 |
| Daiwabo Holdings Co Ltd  | 74473 | 1516530 |
| Dexerials Corp  | 67891 | 1059563 |
| Hamamatsu Photonics KK  | 101000 | 1301934 |
| Maruwa Co Ltd/Aichi  | 4235 | 2000643 |
| Riken Keiki Co Ltd  | 47459 | 1019302 |
|  |  | 9494084 |
| IT Services - 0.7% |  |  |
| NSD Co Ltd  | 63547 | 1090877 |
| Zuken Inc  | 30363 | 857165 |
|  |  | 1948042 |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| SUMCO Corp  | 139124 | 2219675 |
| TOTAL INFORMATION TECHNOLOGY |  | 13661801 |
| Materials - 5.6% |  |  |
| Chemicals - 2.8% |  |  |
| Fujimi Inc  | 58800 | 1216194 |
| Kaneka Corp  | 44418 | 1389256 |
| Kuraray Co Ltd  | 90333 | 948729 |
| Resonac Holdings Corp (d) | 35212 | 3222396 |
| Teijin Ltd  | 85800 | 864079 |
|  |  | 7640654 |
| Construction Materials - 0.3% |  |  |
| Maeda Kosen Co Ltd  | 82030 | 957362 |
| Containers & Packaging - 0.4% |  |  |
| FP Corp  | 80909 | 1195336 |
| Metals & Mining - 2.1% |  |  |
| Dowa Holdings Co Ltd  | 29729 | 1809055 |
| Toho Titanium Co Ltd (d) | 76300 | 1642549 |
| UACJ Corp  | 141416 | 2495135 |
|  |  | 5946739 |
| TOTAL MATERIALS |  | 15740091 |
| Real Estate - 2.5% |  |  |
| Diversified REITs - 0.5% |  |  |
| Daiwa House REIT Investment Corp  | 1718 | 1381690 |
| Industrial REITs - 0.4% |  |  |
| SOSiLA Logistics REIT Inc  | 1571 | 1235663 |
| Real Estate Management & Development - 1.2% |  |  |
| Relo Group Inc  | 83237 | 1041993 |
| Tokyo Tatemono Co Ltd  | 89007 | 2048121 |
|  |  | 3090114 |
| Residential REITs - 0.4% |  |  |
| Daiwa Securities Living Investments Corp  | 1760 | 1210518 |
| TOTAL REAL ESTATE |  | 6917985 |
| Utilities - 0.3% |  |  |
| Gas Utilities - 0.3% |  |  |
| Nippon Gas Co Ltd  | 45579 | 782437 |
| TOTAL JAPAN |  | 106784664 |
| NETHERLANDS - 1.1%  |  |  |
| Industrials - 0.5% |  |  |
| Trading Companies & Distributors - 0.5% |  |  |
| IMCD NV (a) | 11200 | 1316460 |
| Real Estate - 0.6% |  |  |
| Retail REITs - 0.6% |  |  |
| Eurocommercial Properties NV  | 51766 | 1695069 |
| TOTAL NETHERLANDS |  | 3011529 |
| NEW ZEALAND - 1.1%  |  |  |
| Industrials - 0.4% |  |  |
| Building Products - 0.4% |  |  |
| Fletcher Building Ltd (a) | 739180 | 1221045 |
| Utilities - 0.7% |  |  |
| Electric Utilities - 0.7% |  |  |
| Contact Energy Ltd  | 332175 | 1866969 |
| TOTAL NEW ZEALAND |  | 3088014 |
| NORWAY - 2.3%  |  |  |
| Energy - 1.5% |  |  |
| Energy Equipment & Services - 1.5% |  |  |
| DOF Group ASA A Shares  | 141121 | 2092893 |
| TGS ASA  | 132482 | 2152098 |
| TOTAL ENERGY |  | 4244991 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| SpareBank 1 SMN  | 97528 | 2176950 |
| TOTAL NORWAY |  | 6421941 |
| SINGAPORE - 0.9%  |  |  |
| Real Estate - 0.9% |  |  |
| Hotel & Resort REITs - 0.3% |  |  |
| CDL Hospitality Trusts unit  | 1691739 | 1078926 |
| Industrial REITs - 0.6% |  |  |
| Mapletree Industrial Trust  | 996807 | 1546916 |
| TOTAL SINGAPORE |  | 2625842 |
| SPAIN - 4.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Automobile Components - 0.5% |  |  |
| CIE Automotive SA  | 45135 | 1536208 |
| Consumer Staples - 0.5% |  |  |
| Food Products - 0.5% |  |  |
| Viscofan SA  | 18800 | 1323877 |
| Financials - 1.5% |  |  |
| Banks - 1.0% |  |  |
| Bankinter SA  | 160335 | 2665530 |
| Insurance - 0.5% |  |  |
| Linea Directa Aseguradora SA Cia de Seguros y Reaseguros  | 1178950 | 1646573 |
| TOTAL FINANCIALS |  | 4312103 |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| Grifols SA Class A (d) | 115400 | 1213535 |
| Industrials - 2.0% |  |  |
| Air Freight & Logistics - 0.7% |  |  |
| Logista Integral SA  | 46927 | 1832925 |
| Construction & Engineering - 0.5% |  |  |
| Sacyr SA  | 229153 | 1258127 |
| Machinery - 0.8% |  |  |
| Construcciones y Auxiliar de Ferrocarriles SA  | 20500 | 1539829 |
| Fluidra SA  | 33595 | 784238 |
|  |  | 2324067 |
| TOTAL INDUSTRIALS |  | 5415119 |
| TOTAL SPAIN |  | 13800842 |
| SWEDEN - 4.2%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Household Durables - 0.3% |  |  |
| JM AB  | 67100 | 837955 |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| AAK AB  | 41315 | 1178671 |
| Financials - 0.9% |  |  |
| Banks - 0.3% |  |  |
| Noba (a) | 87000 | 797184 |
| Capital Markets - 0.6% |  |  |
| Avanza Bank Holding AB  | 44486 | 1596297 |
| TOTAL FINANCIALS |  | 2393481 |
| Health Care - 0.4% |  |  |
| Life Sciences Tools & Services - 0.4% |  |  |
| AddLife AB B Shares  | 79090 | 1224116 |
| Industrials - 1.1% |  |  |
| Commercial Services & Supplies - 0.6% |  |  |
| Loomis AB  | 34271 | 1587949 |
| Trading Companies & Distributors - 0.5% |  |  |
| AddTech AB B Shares  | 41251 | 1489597 |
| TOTAL INDUSTRIALS |  | 3077546 |
| Information Technology - 0.6% |  |  |
| IT Services - 0.6% |  |  |
| Atea ASA  | 93363 | 1574072 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Alleima AB  | 156500 | 1389096 |
| TOTAL SWEDEN |  | 11674937 |
| SWITZERLAND - 3.0%  |  |  |
| Consumer Staples - 0.5% |  |  |
| Food Products - 0.5% |  |  |
| Barry Callebaut AG  | 923 | 1380927 |
| Financials - 0.6% |  |  |
| Capital Markets - 0.6% |  |  |
| VZ Holding AG  | 8837 | 1723631 |
| Health Care - 0.2% |  |  |
| Life Sciences Tools & Services - 0.2% |  |  |
| Tecan Group AG  | 4250 | 640206 |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Bucher Industries AG  | 2880 | 1140795 |
| Information Technology - 0.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Sensirion Holding AG (a)(b)(c) | 5060 | 436479 |
| Real Estate - 1.1% |  |  |
| Real Estate Management & Development - 1.1% |  |  |
| International Workplace Group PLC  | 409800 | 1030510 |
| PSP Swiss Property AG  | 9479 | 1893738 |
| TOTAL REAL ESTATE |  | 2924248 |
| TOTAL SWITZERLAND |  | 8246286 |
| UNITED KINGDOM - 12.0%  |  |  |
| Communication Services - 1.2% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| Zegona Communications plc  | 140939 | 3379212 |
| Consumer Discretionary - 2.6% |  |  |
| Broadline Retail - 0.3% |  |  |
| B&M European Value Retail plc  | 313936 | 715113 |
| Distributors - 0.5% |  |  |
| Inchcape PLC  | 136522 | 1534851 |
| Diversified Consumer Services - 0.3% |  |  |
| ME Group International PLC  | 461066 | 915998 |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Playtech Plc (d) | 155900 | 774314 |
| Household Durables - 0.3% |  |  |
| Vistry Group PLC (a)(d) | 162330 | 721870 |
| Leisure Products - 0.4% |  |  |
| Games Workshop Group PLC  | 4201 | 1114148 |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| Burberry Group PLC (a) | 89107 | 1403860 |
| TOTAL CONSUMER DISCRETIONARY |  | 7180154 |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| DCC PLC  | 22670 | 1708990 |
| Financials - 2.5% |  |  |
| Banks - 0.5% |  |  |
| Close Brothers Group PLC (a) | 226000 | 1354975 |
| Capital Markets - 0.5% |  |  |
| St James's Place PLC  | 81500 | 1351330 |
| Insurance - 1.5% |  |  |
| Hiscox Ltd  | 52200 | 1099562 |
| Lancashire Holdings Ltd  | 178251 | 1392266 |
| Sabre Insurance Group PLC (b)(c) | 842257 | 1735198 |
|  |  | 4227026 |
| TOTAL FINANCIALS |  | 6933331 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Convatec Group PLC (b)(c) | 348200 | 998577 |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Senior PLC  | 295734 | 1148909 |
| Commercial Services & Supplies - 0.8% |  |  |
| Mitie Group PLC  | 941325 | 2226219 |
| Construction & Engineering - 0.5% |  |  |
| Balfour Beatty PLC  | 126600 | 1405731 |
| Machinery - 0.5% |  |  |
| IMI PLC  | 38503 | 1462811 |
| Marine Transportation - 0.6% |  |  |
| Clarkson PLC  | 23600 | 1553019 |
| Passenger Airlines - 0.4% |  |  |
| JET2 PLC  | 72959 | 1094054 |
| TOTAL INDUSTRIALS |  | 8890743 |
| Materials - 0.9% |  |  |
| Chemicals - 0.2% |  |  |
| Elementis PLC  | 284126 | 572204 |
| Metals & Mining - 0.7% |  |  |
| Hill & Smith PLC  | 53154 | 1858863 |
| TOTAL MATERIALS |  | 2431067 |
| Real Estate - 0.8% |  |  |
| Real Estate Management & Development - 0.5% |  |  |
| Savills PLC  | 112710 | 1268371 |
| Residential REITs - 0.3% |  |  |
| Grainger PLC  | 392621 | 856417 |
| TOTAL REAL ESTATE |  | 2124788 |
| TOTAL UNITED KINGDOM |  | 33646862 |
| UNITED STATES - 0.7%  |  |  |
| Industrials - 0.2% |  |  |
| Building Products - 0.2% |  |  |
| Reliance Worldwide Corp Ltd  | 294870 | 699279 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Acerinox SA  | 79732 | 1303534 |
| TOTAL UNITED STATES |  | 2002813 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $216,202,568) |  | <br> **273062514** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.3%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.3%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.3%** |
|  | Shares | Value ($)<br>|
| GERMANY - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Machinery - 0.3% |  |  |
| Jungheinrich AG <br>(Cost $934,739)<br>| 27339 | **822696** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** | &nbsp;&nbsp;**Money Market Funds - 3.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 3265539 | 3266192 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 5387960 | 5388499 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $8,654,691) |  |  | **8654691** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.1%**<br> (Cost $225,791,998)<br>| <br>**282539901** |
| **NET OTHER ASSETS (LIABILITIES) - (1.1)%**  | **(3147651)** |
| **NET ASSETS - 100.0%** | **279392250** |

---

**Legend**

(a) Non-income producing.

(b) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $7,361,311 or 2.6% of net assets.

(c) 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 $6,558,673 or 2.3% of net assets.

(d) Security or a portion of the security is on loan at period end.

(e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(f) 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.

(g) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 2885677 | 14174881 | 13794255 | 94226 | (111) | - | 3266192 | 3265539 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 4298768 | 16737710 | 15648141 | 28625 | 162 | - | 5388499 | 5387960 | 0.0% |
| Total | 7184445 | 30912591 | 29442396 | 122851 | 51 | - | 8654691 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 11569444 | 8782409 | 2787035 | - |
| Consumer Discretionary | 30693437 | 14732829 | 15960608 | - |
| Consumer Staples | 12185371 | 6127550 | 6057821 | - |
| Energy | 13134555 | 8787110 | 4347445 | - |
| Financials | 35563466 | 21527122 | 14036344 | - |
| Health Care | 17259533 | 8684661 | 8574872 | - |
| Industrials | 62909185 | 27577720 | 35331465 | - |
| Information Technology | 26976552 | 10781685 | 16194867 | - |
| Materials | 36342784 | 12257347 | 24085437 | - |
| Real Estate | 21509702 | 9457030 | 12052672 | - |
| Utilities | 4918485 | 2269079 | 2649406 | - |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Industrials | 822696 | 822696 | - | - |
|  **Money Market Funds** | 8654691 | 8654691 | - | - |
| **Total Investments in Securities:** | 282539901 | 140461929 | 142077972 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $11,317,613) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $217,137,307) | $273885210 |  |
| Fidelity Central Funds (cost $8,654,691) | 8654691 |  |
| Total Investment in Securities (cost $225,791,998) |  | $282539901 |
| Foreign currency held at value (cost $78,868) |  | 78869 |
| Receivable for investments sold |  | 1498611 |
| Receivable for fund shares sold |  | 572654 |
| Dividends receivable |  | 1712876 |
| Reclaims receivable |  | 279234 |
| Distributions receivable from Fidelity Central Funds |  | 22572 |
| **Total assets** |  | 286704717 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $1256157 |  |
| Delayed delivery | 93542 |  |
| Payable for fund shares redeemed | 572658 |  |
| Other payables and accrued expenses | 1773 |  |
| Collateral on securities loaned | 5388337 |  |
| **Total liabilities** |  | 7312467 |
| **Net Assets**  |  | $279392250 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $216295747 |
| Total accumulated earnings (loss) |  | 63096503 |
| **Net Assets** |  | $279392250 |
| **Net Asset Value**, offering price and redemption price per share ($279,392,250 ÷ 18,429,998 shares) |  | $15.16 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $4270948 |
| Income from Fidelity Central Funds (including $28,625 from security lending)  |  | 122851 |
| Security lending |  | 8077 |
| Income before foreign taxes withheld |  | $4401876 |
| Less foreign taxes withheld |  | (346111) |
| **Total income** |  | 4055765 |
| **Expenses** |  |  |
| Custodian fees and expenses | $12389 |  |
| Independent trustees' fees and expenses | 400 |  |
| Total expenses before reductions | 12789 |  |
| Expense reductions | (217) |  |
| Total expenses after reductions |  | 12572 |
| **Net Investment income (loss)** |  | 4043193 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 4354424 |  |
| Fidelity Central Funds | 51 |  |
| Foreign currency transactions | (44404) |  |
| Total net realized gain (loss) |  | 4310071 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 25823869 |  |
| Assets and liabilities in foreign currencies | 61884 |  |
| Total change in net unrealized appreciation (depreciation) |  | 25885753 |
| **Net gain (loss)** |  | 30195824 |
| **Net increase (decrease) in net assets resulting from operations** |  | $34239017 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $4043193 | $4618976 |
| &nbsp;&nbsp;Net realized gain (loss) | 4310071<br>| 775673<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 25885753 | 30756507<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 34239017<br>| 36151156<br>|
| Distributions to shareholders | (7376915)<br>| (88511)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 14300628 | 218680080 |
| Reinvestment of distributions | 7376915<br>| 88511<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (14177203) | (11082063) |
| **Net increase (decrease) in net assets resulting from share transactions** | 7500340<br>| 207686528<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 34362442<br>| 243749173<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 245029808 | 1280635<br>|
| &nbsp;&nbsp;End of period | $279392250 | $245029808 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 989792 | 18599173 |
| Issued in reinvestment of distributions | 542423<br>| 7889<br>|
| &nbsp;&nbsp;Redeemed | (980971) | (834691) |
| &nbsp;&nbsp;Net increase (decrease) | 551244 | 17772371 |

---

**Financial Highlights** 

**Fidelity® Series Select International Small Cap Fund** <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023** A |
| **Selected Per-Share Data**  |  |  |  |  |
| Net asset value, beginning of period  | $13.71 | $12.04 | $10.77 | $10.00 |
| Income from Investment Operations  |  |  |  |  |
| Net investment income (loss) B,C | .22  | .45  | .38  | .31  |
| Net realized and unrealized gain (loss)  | 1.64  | 2.05  | 1.57  | .49  |
| Total from investment operations  | 1.86  | 2.50  | 1.95  | .80  |
| Distributions from net investment income  | (.36)  | (.46)  | (.43)  | (.03)  |
| Distributions from net realized gain  | (.05)  | (.37)  | (.25)  | -  |
| Total distributions  | (.41)  | (.83)  | (.68)  | (.03)  |
| Net asset value, end of period  | $15.16 | $13.71 | $12.04 | $10.77 |
| **Total Return** D,E | 13.93% <br>| 22.31%  | 18.56%  | 8.03%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |
| Expenses before reductions  | .01% H | .01%  | .22%  | .23% H |
| Expenses net of fee waivers, if any  | .01% H<br>| .01%  | .01%  | .01% H |
| Expenses net of all reductions, if any  | .01% H | .01%  | .01%  | .01% H |
| Net investment income (loss)  | 3.08% H | 3.45%  | 3.14%  | 2.69% H |
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000 omitted) | $279392 | $245030 | $1281 | $1080 |
| Portfolio turnover rate I | 22% H<br>| 13%  | 18%  | 23% H |

---

A*For the period November 4, 2022 (commencement of operations) through October 31, 2023.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Series Select International Small Cap Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions and passive foreign investment companies (PFIC) and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $65689054 |
| **Gross unrealized depreciation** | <u>(9892905)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$55796149</u> |
| **Tax cost** | <u>$226743752</u> |

---

Due to large subscriptions in a prior period, the Fund is subject to an annual limit on its use of some of its unrealized capital losses to offset capital gains in future periods. If those capital losses are realized and the limitation prevents the Fund from using any of those capital losses in a future period, those capital losses will be available to offset capital gains in subsequent periods.

**Delayed Delivery Transactions and When-Issued Securities.** During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Series Select International Small Cap Fund** | 31619375 | 28711390 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Series Select International Small Cap Fund** | 472144 | 149007 | 7614 |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

**7. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Series Select International Small Cap Fund** | 3983 | - | - |

---

At period end, the value of any non-cash collateral is presented below. Non-cash collateral is held by a third-party bank for the benefit of a fund and the borrower. A fund is not permitted to sell or re-pledge non-cash collateral except in the event of borrower default, and therefore it is not included in the Schedule of Investments or Statement of Assets and Liabilities.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Series Select International Small Cap Fund** | 6386711 |

---

**8. Expense Reductions.** 

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $217.

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131310_4.jpg)<br>

1.9906199.103 SSI-SANN-0626

**Fidelity® SAI Sustainable International Equity Fund**

**Semi-Annual Report**

**April 30, 2026**

Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

![](img131309_1.jpg)

![](img131309_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_IEE-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® SAI Sustainable International Equity Fund](#Sub_Sec_Fund_6549_IEE-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements6549_IEE-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IEE-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IEE-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IEE-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IEE-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® SAI Sustainable International Equity Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.2%** | &nbsp;&nbsp;**Common Stocks - 96.2%** | &nbsp;&nbsp;**Common Stocks - 96.2%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.1%  |  |  |
| Financials - 1.4% |  |  |
| Capital Markets - 1.4% |  |  |
| Macquarie Group Ltd  | 12961 | 2226599 |
| Industrials - 1.0% |  |  |
| Commercial Services & Supplies - 1.0% |  |  |
| Brambles Ltd  | 94558 | 1547815 |
| Materials - 0.7% |  |  |
| Metals & Mining - 0.7% |  |  |
| IperionX Ltd (a) | 401887 | 1225875 |
| TOTAL AUSTRALIA |  | 5000289 |
| AUSTRIA - 0.4%  |  |  |
| Materials - 0.4% |  |  |
| Construction Materials - 0.4% |  |  |
| Wienerberger AG  | 23668 | 684449 |
| BELGIUM - 2.9%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| KBC Group NV  | 11098 | 1475100 |
| Health Care - 2.0% |  |  |
| Pharmaceuticals - 2.0% |  |  |
| UCB SA (a) | 11778 | 3195936 |
| TOTAL BELGIUM |  | 4671036 |
| CANADA - 0.9%  |  |  |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Cameco Corp  | 12262 | 1507350 |
| CHINA - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 6161 | 395801 |
| FINLAND - 1.5%  |  |  |
| Information Technology - 1.0% |  |  |
| Communications Equipment - 1.0% |  |  |
| Nokia Oyj ADR  | 112455 | 1451794 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Fortum Oyj  | 34538 | 869082 |
| TOTAL FINLAND |  | 2320876 |
| FRANCE - 3.7%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Hermes International SCA  | 697 | 1333432 |
| Consumer Staples - 0.7% |  |  |
| Personal Care Products - 0.7% |  |  |
| L'Oreal SA  | 2749 | 1181010 |
| Financials - 2.2% |  |  |
| Capital Markets - 1.3% |  |  |
| Amundi SA (b)(c) | 20483 | 1976078 |
| Insurance - 0.9% |  |  |
| AXA SA  | 29290 | 1411933 |
| TOTAL FINANCIALS |  | 3388011 |
| TOTAL FRANCE |  | 5902453 |
| GERMANY - 4.6%  |  |  |
| Financials - 0.9% |  |  |
| Capital Markets - 0.9% |  |  |
| Deutsche Boerse AG  | 4524 | 1387954 |
| Industrials - 1.9% |  |  |
| Air Freight & Logistics - 0.9% |  |  |
| Deutsche Post AG  | 24905 | 1474731 |
| Industrial Conglomerates - 1.0% |  |  |
| Siemens AG  | 5414 | 1608831 |
| TOTAL INDUSTRIALS |  | 3083562 |
| Materials - 1.2% |  |  |
| Construction Materials - 1.2% |  |  |
| Heidelberg Materials AG  | 8444 | 1863112 |
| Real Estate - 0.6% |  |  |
| Real Estate Management & Development - 0.6% |  |  |
| Instone Real Estate Group SE (b)(c) | 93937 | 972397 |
| TOTAL GERMANY |  | 7307025 |
| HONG KONG - 1.8%  |  |  |
| Financials - 1.8% |  |  |
| Insurance - 1.8% |  |  |
| AIA Group Ltd  | 260344 | 2858257 |
| IRELAND - 3.0%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Kerry Group PLC Class A  | 5159 | 437160 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| AIB Group PLC  | 126073 | 1449767 |
| Industrials - 1.9% |  |  |
| Building Products - 1.9% |  |  |
| Kingspan Group PLC  | 32349 | 2986058 |
| TOTAL IRELAND |  | 4872985 |
| ITALY - 3.5%  |  |  |
| Financials - 2.5% |  |  |
| Banks - 2.5% |  |  |
| Intesa Sanpaolo SpA  | 320640 | 2178503 |
| UniCredit SpA  | 23778 | 1837620 |
| TOTAL FINANCIALS |  | 4016123 |
| Industrials - 1.0% |  |  |
| Electrical Equipment - 1.0% |  |  |
| Prysmian SpA  | 10490 | 1595626 |
| TOTAL ITALY |  | 5611749 |
| JAPAN - 21.6%  |  |  |
| Consumer Discretionary - 4.3% |  |  |
| Broadline Retail - 0.6% |  |  |
| Pan Pacific International Holdings Corp  | 176079 | 995912 |
| Household Durables - 2.4% |  |  |
| Panasonic Holdings Corp  | 84098 | 1720292 |
| Sony Group Corp  | 103405 | 2071754 |
|  |  | 3792046 |
| Specialty Retail - 1.3% |  |  |
| Fast Retailing Co Ltd  | 4371 | 2057628 |
| TOTAL CONSUMER DISCRETIONARY |  | 6845586 |
| Financials - 5.8% |  |  |
| Banks - 3.5% |  |  |
| Mizuho Financial Group Inc  | 46449 | 1997433 |
| Sumitomo Mitsui Financial Group Inc  | 101554 | 3585776 |
|  |  | 5583209 |
| Financial Services - 2.1% |  |  |
| ORIX Corp  | 97936 | 3296182 |
| Insurance - 0.2% |  |  |
| Tokio Marine Holdings Inc  | 7096 | 324974 |
| TOTAL FINANCIALS |  | 9204365 |
| Health Care - 1.6% |  |  |
| Health Care Equipment & Supplies - 1.1% |  |  |
| Hoya Corp  | 9056 | 1691152 |
| Pharmaceuticals - 0.5% |  |  |
| Chugai Pharmaceutical Co Ltd  | 1123 | 59889 |
| Takeda Pharmaceutical Co Ltd  | 23014 | 769422 |
|  |  | 829311 |
| TOTAL HEALTH CARE |  | 2520463 |
| Industrials - 7.1% |  |  |
| Industrial Conglomerates - 2.0% |  |  |
| Hitachi Ltd  | 103332 | 3285787 |
| Trading Companies & Distributors - 5.1% |  |  |
| ITOCHU Corp  | 448400 | 5557071 |
| Marubeni Corp  | 65483 | 2548670 |
|  |  | 8105741 |
| TOTAL INDUSTRIALS |  | 11391528 |
| Information Technology - 2.8% |  |  |
| Electronic Equipment, Instruments & Components - 0.8% |  |  |
| Ibiden Co Ltd  | 15471 | 1323237 |
| Semiconductors & Semiconductor Equipment - 2.0% |  |  |
| Advantest Corp  | 7143 | 1333731 |
| Disco Corp  | 1761 | 837852 |
| Renesas Electronics Corp  | 48164 | 974004 |
|  |  | 3145587 |
| TOTAL INFORMATION TECHNOLOGY |  | 4468824 |
| TOTAL JAPAN |  | 34430766 |
| KOREA (SOUTH) - 1.1%  |  |  |
| Information Technology - 1.1% |  |  |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| SK Hynix Inc  | 1872 | 1680107 |
| NETHERLANDS - 10.7%  |  |  |
| Communication Services - 2.4% |  |  |
| Diversified Telecommunication Services - 2.4% |  |  |
| Koninklijke KPN NV  | 713058 | 3813113 |
| Financials - 2.8% |  |  |
| Banks - 2.8% |  |  |
| ING Groep NV  | 153309 | 4436976 |
| Health Care - 0.7% |  |  |
| Biotechnology - 0.7% |  |  |
| Argenx SE (a) | 1509 | 1183399 |
| Information Technology - 4.8% |  |  |
| Semiconductors & Semiconductor Equipment - 4.8% |  |  |
| ASML Holding NV  | 5297 | 7657059 |
| TOTAL NETHERLANDS |  | 17090547 |
| NEW ZEALAND - 0.0%  |  |  |
| Utilities - 0.0% |  |  |
| Electric Utilities - 0.0% |  |  |
| Contact Energy Ltd  | 1535 | 8626 |
| PORTUGAL - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Banco Comercial Portugues SA  | 1430213 | 1525820 |
| SINGAPORE - 1.6%  |  |  |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| DBS Group Holdings Ltd  | 53792 | 2480385 |
| SPAIN - 4.7%  |  |  |
| Consumer Staples - 0.0% |  |  |
| Personal Care Products - 0.0% |  |  |
| Puig Brands SA Class B  | 2597 | 53827 |
| Financials - 2.7% |  |  |
| Banks - 2.7% |  |  |
| Banco Santander SA  | 220711 | 2688810 |
| CaixaBank SA  | 120696 | 1536261 |
| TOTAL FINANCIALS |  | 4225071 |
| Utilities - 2.0% |  |  |
| Electric Utilities - 1.8% |  |  |
| Iberdrola SA  | 120205 | 2818114 |
| Independent Power and Renewable Electricity Producers - 0.2% |  |  |
| EDP Renovaveis SA (a) | 1657 | 27576 |
| Grenergy Renovables SA (a) | 2895 | 410444 |
|  |  | 438020 |
| TOTAL UTILITIES |  | 3256134 |
| TOTAL SPAIN |  | 7535032 |
| SWEDEN - 4.5%  |  |  |
| Financials - 2.0% |  |  |
| Financial Services - 2.0% |  |  |
| Investor AB B Shares  | 76709 | 3090709 |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| Swedish Orphan Biovitrum AB B Shares (a) | 12490 | 578725 |
| Industrials - 1.0% |  |  |
| Machinery - 0.3% |  |  |
| Indutrade AB  | 23051 | 492341 |
| Trading Companies & Distributors - 0.7% |  |  |
| AddTech AB B Shares  | 32692 | 1180527 |
| TOTAL INDUSTRIALS |  | 1672868 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Lagercrantz Group AB B Shares  | 41938 | 1095605 |
| Technology Hardware, Storage & Peripherals - 0.4% |  |  |
| Dynavox Group AB (a) | 78759 | 699066 |
| TOTAL INFORMATION TECHNOLOGY |  | 1794671 |
| TOTAL SWEDEN |  | 7136973 |
| SWITZERLAND - 2.3%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| Cie Financiere Richemont SA Series A  | 3480 | 667873 |
| Industrials - 1.9% |  |  |
| Electrical Equipment - 1.9% |  |  |
| ABB Ltd  | 29863 | 3020336 |
| TOTAL SWITZERLAND |  | 3688209 |
| TAIWAN - 4.5%  |  |  |
| Information Technology - 4.5% |  |  |
| Semiconductors & Semiconductor Equipment - 4.5% |  |  |
| MediaTek Inc  | 7883 | 660180 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 94716 | 6596284 |
| TOTAL TAIWAN |  | 7256464 |
| UNITED KINGDOM - 13.5%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Compass Group PLC  | 15796 | 446237 |
| Consumer Staples - 1.3% |  |  |
| Food Products - 0.3% |  |  |
| Cranswick PLC  | 8618 | 632082 |
| Personal Care Products - 1.0% |  |  |
| Unilever PLC  | 26162 | 1525641 |
| TOTAL CONSUMER STAPLES |  | 2157723 |
| Financials - 1.9% |  |  |
| Banks - 0.6% |  |  |
| Lloyds Banking Group PLC  | 731759 | 994682 |
| Insurance - 1.3% |  |  |
| Admiral Group PLC  | 15708 | 722036 |
| Aviva PLC  | 158018 | 1340884 |
|  |  | 2062920 |
| TOTAL FINANCIALS |  | 3057602 |
| Health Care - 3.5% |  |  |
| Pharmaceuticals - 3.5% |  |  |
| Astrazeneca PLC  | 29534 | 5605477 |
| Industrials - 3.4% |  |  |
| Commercial Services & Supplies - 0.4% |  |  |
| Johnson Service Group PLC  | 420470 | 737793 |
| Trading Companies & Distributors - 3.0% |  |  |
| Diploma PLC  | 26064 | 2461382 |
| Howden Joinery Group PLC  | 213617 | 2258578 |
|  |  | 4719960 |
| TOTAL INDUSTRIALS |  | 5457753 |
| Real Estate - 0.2% |  |  |
| Residential REITs - 0.2% |  |  |
| Grainger PLC  | 138696 | 302534 |
| Utilities - 2.9% |  |  |
| Electric Utilities - 1.3% |  |  |
| SSE PLC  | 59345 | 2124811 |
| Multi-Utilities - 1.6% |  |  |
| National Grid PLC  | 137257 | 2456981 |
| TOTAL UTILITIES |  | 4581792 |
| TOTAL UNITED KINGDOM |  | 21609118 |
| UNITED STATES - 5.1%  |  |  |
| Health Care - 1.2% |  |  |
| Health Care Equipment & Supplies - 1.2% |  |  |
| Alcon AG  | 25144 | 1873531 |
| Industrials - 3.0% |  |  |
| Electrical Equipment - 3.0% |  |  |
| Schneider Electric SE  | 15046 | 4787770 |
| Materials - 0.9% |  |  |
| Construction Materials - 0.9% |  |  |
| CRH PLC  | 6223 | 736928 |
| Holcim AG  | 8222 | 764041 |
| TOTAL MATERIALS |  | 1500969 |
| TOTAL UNITED STATES |  | 8162270 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $122,666,063) |  | <br> **153736587** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 4.0%** | &nbsp;&nbsp;**Money Market Funds - 4.0%** | &nbsp;&nbsp;**Money Market Funds - 4.0%** | &nbsp;&nbsp;**Money Market Funds - 4.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $6,399,817)<br>| 3.69 | 6398537 | **6399817** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.2%**<br> (Cost $129,065,880)<br>| <br>**160136404** |
| **NET OTHER ASSETS (LIABILITIES) - (0.2)%**  | **(275136)** |
| **NET ASSETS - 100.0%** | **159861268** |

---

**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 $2,948,475 or 1.8% of net assets.

(c) Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $2,948,475 or 1.8% of net assets.

(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**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 5752407 | 40320356 | 39672874 | 89401 | (72) | - | 6399817 | 6398537 | 0.0% |
| Total | 5752407 | 40320356 | 39672874 | 89401 | (72) | - | 6399817 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 3813113 | - | 3813113 | - |
| Consumer Discretionary | 9293128 | 446237 | 8846891 | - |
| Consumer Staples | 3829720 | 2304079 | 1525641 | - |
| Energy | 1507350 | 1507350 | - | - |
| Financials | 44822739 | 14269204 | 30553535 | - |
| Health Care | 14957531 | 11253669 | 3703862 | - |
| Industrials | 35939117 | 10116679 | 25822438 | - |
| Information Technology | 24308919 | 3246465 | 21062454 | - |
| Materials | 5274405 | 1421377 | 3853028 | - |
| Real Estate | 1274931 | 1274931 | - | - |
| Utilities | 8715634 | 1307102 | 7408532 | - |
|  **Money Market Funds** | 6399817 | 6399817 | - | - |
| **Total Investments in Securities:** | 160136404 | 53546910 | 106589494 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $122,666,063) | $153736587 |  |
| Fidelity Central Funds (cost $6,399,817) | 6399817 |  |
| Total Investment in Securities (cost $129,065,880) |  | $160136404 |
| Foreign currency held at value (cost $14) |  | 14 |
| Receivable for investments sold |  | 88062 |
| Receivable for fund shares sold |  | 356232 |
| Dividends receivable |  | 557992 |
| Reclaims receivable |  | 132469 |
| Distributions receivable from Fidelity Central Funds |  | 17848 |
| Prepaid expenses |  | 25 |
| Receivable from investment adviser for expense reductions |  | 7104 |
| **Total assets** |  | 161296150 |
| **Liabilities** |  |  |
| Payable to custodian bank  | $14 |  |
| Payable for investments purchased  | 1278605 |  |
| Payable for fund shares redeemed | 33548 |  |
| Accrued management fee | 81979 |  |
| Other payables and accrued expenses | 40736 |  |
| **Total liabilities** |  | 1434882 |
| **Net Assets**  |  | $159861268 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $129818726 |
| Total accumulated earnings (loss) |  | 30042542 |
| **Net Assets** |  | $159861268 |
| **Net Asset Value**, offering price and redemption price per share ($159,861,268 ÷ 11,367,243 shares) |  | $14.06 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $1541788 |
| Income from Fidelity Central Funds  |  | 89401 |
| Income before foreign taxes withheld |  | $1631189 |
| Less foreign taxes withheld |  | (130474) |
| **Total income** |  | 1500715 |
| **Expenses** |  |  |
| Management fee | $439294 |  |
| Custodian fees and expenses | 21113 |  |
| Independent trustees' fees and expenses | 191 |  |
| Registration fees | 26998 |  |
| Audit fees | 31937 |  |
| Legal | 65 |  |
| Miscellaneous | 157 |  |
| Total expenses before reductions | 519755 |  |
| Expense reductions | (11460) |  |
| Total expenses after reductions |  | 508295 |
| **Net Investment income (loss)** |  | 992420 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 2050899 |  |
| Fidelity Central Funds | (72) |  |
| Foreign currency transactions | (30049) |  |
| Total net realized gain (loss) |  | 2020778 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 9193271 |  |
| Assets and liabilities in foreign currencies | 22640 |  |
| Total change in net unrealized appreciation (depreciation) |  | 9215911 |
| **Net gain (loss)** |  | 11236689 |
| **Net increase (decrease) in net assets resulting from operations** |  | $12229109 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $992420 | $1564475 |
| &nbsp;&nbsp;Net realized gain (loss) | 2020778<br>| (1337968)<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 9215911 | 17794796<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 12229109<br>| 18021303<br>|
| Distributions to shareholders | (2989041)<br>| (898412)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 48227267 | 65416892 |
| Reinvestment of distributions | 2578217<br>| 748216<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (17785438) | (24938317) |
| **Net increase (decrease) in net assets resulting from share transactions** | 33020046<br>| 41226791<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 42260114<br>| 58349682<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 117601154 | 59251472<br>|
| &nbsp;&nbsp;End of period | $159861268 | $117601154 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 3593881 | 5673048 |
| Issued in reinvestment of distributions | 200017<br>| 68455<br>|
| &nbsp;&nbsp;Redeemed | (1333838) | (2232437) |
| &nbsp;&nbsp;Net increase (decrease) | 2460060 | 3509066 |

---

**Financial Highlights** 

**Fidelity® SAI Sustainable International Equity Fund** <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $13.20 | $10.98 | $8.82 | $8.06 | $10.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) B,C | .10  | .22  | .20  | .17  | .08  |
| Net realized and unrealized gain (loss)  | 1.07  | 2.15  | 2.03  | .65  | (2.02)  |
| Total from investment operations  | 1.17  | 2.37  | 2.23  | .82  | (1.94)  |
| Distributions from net investment income  | (.31)  | (.15)  | (.07)  | (.06)  | -  |
| Total distributions  | (.31)  | (.15)  | (.07)  | (.06)  | -  |
| Net asset value, end of period  | $14.06 | $13.20 | $10.98 | $8.82 | $8.06 |
| **Total Return** D,E | 9.11% <br>| 21.86%  | 25.43%  | 10.12%  | (19.40)%  |
| **Ratios to Average Net Assets** C,F,G |  |  |  |  |  |
| Expenses before reductions  | .77% H | .78%  | 1.03%  | 3.13%  | 5.78% H,I |
| Expenses net of fee waivers, if any  | .75% H<br>| .75%  | .75%  | .75%  | .75% H |
| Expenses net of all reductions, if any  | .75% H | .75%  | .75%  | .73%  | .68% H |
| Net investment income (loss)  | 1.46% H | 1.87%  | 1.84%  | 1.84%  | 1.79% H |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $159861 | $117601 | $59251 | $9705 | $2186 |
| Portfolio turnover rate J | 70% H<br>| 42%  | 45%  | 27%  | 51% H |

---

A*For the period April 14, 2022 (commencement of operations) through October 31, 2022.*

B*Calculated based on average shares outstanding during the period.*

C*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Audit fees are not annualized.*

J*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity SAI Sustainable International Equity Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $32537307 |
| **Gross unrealized depreciation** | <u>(3062784)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$29474523</u> |
| **Tax cost** | <u>$130661881</u> |

---

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.

---

| | |
|:---|:---|
| Short-term | $(1730782) |
| Long-term | <u>-</u> |
| **Total capital loss carryforward** | <u>$(1730782)</u> |

---

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity SAI Sustainable International Equity Fund** | 76650830 | 45789057 |

---

**5 Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .648% of the Fund's average net assets.

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity SAI Sustainable International Equity Fund** | 42 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity SAI Sustainable International Equity Fund** | 5479423 | 3570880 | (77947) |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity SAI Sustainable International Equity Fund** | 82 |

---

**7. Expense Reductions.** 

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .75% of average net assets. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $11,460.

**8. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**9. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131309_4.jpg)<br>

1.9904872.104 IEE-SANN-0626

**Fidelity® Infrastructure Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131300_1.jpg)

![](img131300_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ISF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Infrastructure Fund](#Sub_Sec_Fund_3488_ISF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3488_ISF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ISF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ISF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ISF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ISF-SANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Infrastructure Fund**

**Schedule of Investments April 30, 2026 (Unaudited)**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.1%** | &nbsp;&nbsp;**Common Stocks - 96.1%** | &nbsp;&nbsp;**Common Stocks - 96.1%** |
|  | Shares | Value ($)<br>|
| CANADA - 1.6%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Cameco Corp (United States) (a) | 5300 | 652112 |
| Industrials - 1.2% |  |  |
| Ground Transportation - 1.2% |  |  |
| Canadian Pacific Kansas City Ltd (United States)  | 21394 | 1860422 |
| TOTAL CANADA |  | 2512534 |
| FINLAND - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Machinery - 1.0% |  |  |
| Wartsila OYJ Abp  | 38100 | 1598599 |
| GERMANY - 2.1%  |  |  |
| Industrials - 0.7% |  |  |
| Electrical Equipment - 0.7% |  |  |
| Siemens Energy AG  | 5100 | 1080882 |
| Utilities - 1.4% |  |  |
| Multi-Utilities - 1.4% |  |  |
| E.ON SE  | 105000 | 2327876 |
| TOTAL GERMANY |  | 3408758 |
| MEXICO - 1.9%  |  |  |
| Industrials - 1.9% |  |  |
| Transportation Infrastructure - 1.9% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Class B ADR  | 28658 | 3038035 |
| SPAIN - 1.8%  |  |  |
| Utilities - 1.8% |  |  |
| Electric Utilities - 1.8% |  |  |
| Iberdrola SA  | 127296 | 2984357 |
| TAIWAN - 4.8%  |  |  |
| Information Technology - 4.8% |  |  |
| Semiconductors & Semiconductor Equipment - 4.8% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 19800 | 7841988 |
| UNITED KINGDOM - 4.7%  |  |  |
| Utilities - 4.7% |  |  |
| Electric Utilities - 1.6% |  |  |
| SSE PLC  | 72300 | 2588657 |
| Multi-Utilities - 3.1% |  |  |
| National Grid PLC  | 275804 | 4937052 |
| TOTAL UNITED KINGDOM |  | 7525709 |
| UNITED STATES - 78.2%  |  |  |
| Communication Services - 1.4% |  |  |
| Media - 1.4% |  |  |
| EchoStar Corp Class A (a)(b) | 18900 | 2327346 |
| Energy - 5.8% |  |  |
| Oil, Gas & Consumable Fuels - 5.8% |  |  |
| Cheniere Energy Inc  | 16202 | 4454740 |
| Targa Resources Corp  | 7009 | 1822901 |
| Williams Cos Inc/The  | 39737 | 3032330 |
| TOTAL ENERGY |  | 9309971 |
| Industrials - 12.5% |  |  |
| Commercial Services & Supplies - 1.4% |  |  |
| Waste Connections Inc (United States)  | 13658 | 2249746 |
| Construction & Engineering - 4.3% |  |  |
| Centuri Holdings Inc (b) | 28600 | 1075360 |
| Ferrovial SE  | 21617 | 1482669 |
| MasTec Inc (b) | 7700 | 3034185 |
| Quanta Services Inc  | 1800 | 1309986 |
|  |  | 6902200 |
| Electrical Equipment - 3.8% |  |  |
| Bloom Energy Corp Class A (b) | 4700 | 1331792 |
| GE Vernova Inc  | 2100 | 2275266 |
| Nextpower Inc Class A (a)(b) | 20700 | 2465991 |
|  |  | 6073049 |
| Ground Transportation - 2.2% |  |  |
| CSX Corp  | 17900 | 813197 |
| Norfolk Southern Corp  | 4900 | 1547567 |
| Union Pacific Corp  | 4460 | 1201881 |
|  |  | 3562645 |
| Machinery - 0.8% |  |  |
| Caterpillar Inc  | 1600 | 1424176 |
| TOTAL INDUSTRIALS |  | 20211816 |
| Information Technology - 12.1% |  |  |
| Semiconductors & Semiconductor Equipment - 12.1% |  |  |
| Advanced Micro Devices Inc (b) | 5500 | 1949695 |
| Broadcom Inc  | 8000 | 3339440 |
| Monolithic Power Systems Inc  | 2300 | 3713143 |
| NVIDIA Corp  | 52800 | 10537296 |
| TOTAL INFORMATION TECHNOLOGY |  | 19539574 |
| Real Estate - 2.6% |  |  |
| Health Care REITs - 2.6% |  |  |
| Welltower Inc  | 19700 | 4281598 |
| Utilities - 43.8% |  |  |
| Electric Utilities - 28.6% |  |  |
| Alliant Energy Corp  | 11000 | 807730 |
| American Electric Power Co Inc  | 48700 | 6677257 |
| Constellation Energy Corp  | 20500 | 6416500 |
| Duke Energy Corp  | 19300 | 2500315 |
| Entergy Corp  | 39000 | 4598490 |
| Evergy Inc  | 19000 | 1573960 |
| NextEra Energy Inc  | 90260 | 8834649 |
| NRG Energy Inc  | 72600 | 11295109 |
| PG&E Corp  | 164800 | 2738976 |
| Xcel Energy Inc  | 9900 | 821205 |
|  |  | 46264191 |
| Independent Power and Renewable Electricity Producers - 5.3% |  |  |
| Talen Energy Corp (b) | 3300 | 1228986 |
| Vistra Corp  | 46920 | 7405853 |
|  |  | 8634839 |
| Multi-Utilities - 8.0% |  |  |
| Ameren Corp  | 13900 | 1579735 |
| CenterPoint Energy Inc  | 53900 | 2352735 |
| Consolidated Edison Inc  | 14600 | 1627754 |
| NiSource Inc  | 56437 | 2724778 |
| Sempra  | 48800 | 4641856 |
|  |  | 12926858 |
| Water Utilities - 1.9% |  |  |
| American Water Works Co Inc  | 24000 | 3082080 |
| TOTAL UTILITIES |  | 70907968 |
| TOTAL UNITED STATES |  | 126578273 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $121,696,930) |  | <br> **155488253** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.5%** | &nbsp;&nbsp;**Money Market Funds - 6.5%** | &nbsp;&nbsp;**Money Market Funds - 6.5%** | &nbsp;&nbsp;**Money Market Funds - 6.5%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c) | 3.69 | 7002244 | 7003644 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 3465453 | 3465800 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $10,469,444) |  |  | **10469444** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 102.6%**<br> (Cost $132,166,374)<br>| <br>**165957697** |
| **NET OTHER ASSETS (LIABILITIES) - (2.6)%**  | **(4151402)** |
| **NET ASSETS - 100.0%** | **161806295** |

---

**Legend**

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing.

(c) 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.

(d) Investment made with cash collateral received from securities on loan.

**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,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 5292386 | 40337460 | 38626138 | 87336 | (64) | - | 7003644 | 7002244 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 1317950 | 22286097 | 20138119 | 1566 | (128) | - | 3465800 | 3465453 | 0.0% |
| Total | 6610336 | 62623557 | 58764257 | 88902 | (192) | - | 10469444 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

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 income received for lending certain types of securities.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

The following is a summary of the inputs used, as of April 30, 2026, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** | **Valuation Inputs at Reporting Date:** |
| **Description** | **Total ($)** | **Level 1 ($)** | **Level 2 ($)** | **Level 3 ($)** |
| **<u>Investments in Securities:</u>** |  |  |  |  |
|  **Common Stocks** |  |  |  |  |
| Communication Services | 2327346 | 2327346 | - | - |
| Energy | 9962083 | 9962083 | - | - |
| Industrials | 27789754 | 27789754 | - | - |
| Information Technology | 27381562 | 27381562 | - | - |
| Real Estate | 4281598 | 4281598 | - | - |
| Utilities | 83745910 | 73235844 | 10510066 | - |
|  **Money Market Funds** | 10469444 | 10469444 | - | - |
| **Total Investments in Securities:** | 165957697 | 155447631 | 10510066 | - |

---

**Financial Statements (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** | <br> **As of April 30, 2026 (Unaudited)** |
| **Assets**  |  |  |
| Investment in securities, at value (including securities loaned of $3,525,882) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $121,696,930) | $155488253 |  |
| Fidelity Central Funds (cost $10,469,444) | 10469444 |  |
| Total Investment in Securities (cost $132,166,374) |  | $165957697 |
| Receivable for fund shares sold |  | 266312 |
| Dividends receivable |  | 60160 |
| Distributions receivable from Fidelity Central Funds |  | 17407 |
| Prepaid expenses |  | 21 |
| Other receivables |  | 216 |
| **Total assets** |  | 166301813 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $735625 |  |
| Payable for fund shares redeemed | 165468 |  |
| Accrued management fee | 104332 |  |
| Other payables and accrued expenses | 24293 |  |
| Collateral on securities loaned | 3465800 |  |
| **Total liabilities** |  | 4495518 |
| **Net Assets**  |  | $161806295 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $125938737 |
| Total accumulated earnings (loss) |  | 35867558 |
| **Net Assets** |  | $161806295 |
| **Net Asset Value**, offering price and redemption price per share ($161,806,295 ÷ 8,540,071 shares) |  | $18.95 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $1019299 |
| Income from Fidelity Central Funds (including $1,566 from security lending)  |  | 88902 |
| Income before foreign taxes withheld |  | $1108201 |
| Less foreign taxes withheld |  | (34413) |
| **Total income** |  | 1073788 |
| **Expenses** |  |  |
| Management fee | $544929 |  |
| Custodian fees and expenses | 5779 |  |
| Independent trustees' fees and expenses | 184 |  |
| Registration fees | 21041 |  |
| Audit fees | 27773 |  |
| Legal | 389 |  |
| Miscellaneous | 145 |  |
| Total expenses before reductions | 600240 |  |
| Expense reductions | (47) |  |
| Total expenses after reductions |  | 600193 |
| **Net Investment income (loss)** |  | 473595 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 2696539 |  |
| Fidelity Central Funds | (192) |  |
| Foreign currency transactions | (4548) |  |
| Total net realized gain (loss) |  | 2691799 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 11795701 |  |
| Assets and liabilities in foreign currencies | 1823 |  |
| Total change in net unrealized appreciation (depreciation) |  | 11797524 |
| **Net gain (loss)** |  | 14489323 |
| **Net increase (decrease) in net assets resulting from operations** |  | $14962918 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** | **Year ended**<br> **October 31, 2025** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $473595 | $882701 |
| &nbsp;&nbsp;Net realized gain (loss) | 2691799<br>| 8161877<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 11797524 | 11225236<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 14962918<br>| 20269814<br>|
| Distributions to shareholders | (4136486)<br>| (932954)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 56209036 | 71260795 |
| Reinvestment of distributions | 3861404<br>| 870477<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (25398975) | (20327001) |
| **Net increase (decrease) in net assets resulting from share transactions** | 34671465<br>| 51804271<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 45497897<br>| 71141131<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 116308398 | 45167267<br>|
| &nbsp;&nbsp;End of period | $161806295 | $116308398 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 3190398 | 4568522 |
| Issued in reinvestment of distributions | 230783<br>| 56175<br>|
| &nbsp;&nbsp;Redeemed | (1450359) | (1322662) |
| &nbsp;&nbsp;Net increase (decrease) | 1970822 | 3302035 |

---

**Financial Highlights** 

**Fidelity® Infrastructure Fund** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $17.70 | $13.82 | $10.72 | $11.22 | $12.63 | $10.44 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .19  | .21  | .22  | .13 C | .07  |
| Net realized and unrealized gain (loss)  | 1.77  | 3.89  | 3.10  | (.47)  | (1.38)  | 2.21  |
| Total from investment operations  | 1.83  | 4.08  | 3.31  | (.25)  | (1.25)  | 2.28  |
| Distributions from net investment income  | (.07)  | (.20)  | (.21)  | (.25)  | (.16)  | (.09)  |
| Distributions from net realized gain  | (.51)  | -  | -  | -  | -  | -  |
| Total distributions  | (.58)  | (.20)  | (.21)  | (.25)  | (.16)  | (.09)  |
| Net asset value, end of period  | $18.95 | $17.70 | $13.82 | $10.72 | $11.22 | $12.63 |
| **Total Return** D,E | 10.79% <br>| 29.73%  | 31.13%  | (2.43)%  | (9.95)%  | 21.96%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .89% H | .94%  | 1.05%  | 1.15%  | 1.13%  | 1.24%  |
| Expenses net of fee waivers, if any  | .89% H<br>| .94%  | .95%  | .94%  | .98%  | 1.00%  |
| Expenses net of all reductions, if any  | .89% H | .94%  | .95%  | .94%  | .98%  | 1.00%  |
| Net investment income (loss)  | .70% H | 1.26%  | 1.68%  | 1.88%  | 1.08% C | .61%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $161806 | $116308 | $45167 | $41924 | $37356 | $46046 |
| Portfolio turnover rate I | 59% H<br>| 115%  | 74%  | 55%  | 91%  | 46%  |

---

A*Calculated based on average shares outstanding during the period.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.03 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .86%.*

D*Total returns for periods of less than one year are not annualized.*

E*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

F*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

G*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

H*Annualized.*

I*Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.* 

**Notes to Financial Statements** **(Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Infrastructure Fund (the Fund) is a non-diversified fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. 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 Fund categorizes the inputs to valuation techniques used to value its investments 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 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 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 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 open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

**Foreign Currency.** Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.

**Expenses.** Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, capital loss carryforwards and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation** | $34892287 |
| **Gross unrealized depreciation** | <u>(1448714)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$33443573</u> |
| **Tax cost** | <u>$132514124</u> |

---

**4. Purchases and Sales of Investments.**

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Infrastructure Fund** | 66152621 | 38822720 |

---

**5. Fees and Other Transactions with Affiliates.**

**Management Fee.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.

Any reference to "class" in this note shall mean "the Fund" as the Fund currently offers only one class of shares. The Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.

---

| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Fidelity Infrastructure Fund** | .87 |

---

One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:

---

| | |
|:---|:---|
|  | **Total Management Fee Rate %** |
| **Fidelity Infrastructure Fund** | .81 |

---

**Brokerage Commissions.** A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Infrastructure Fund** | 483 |

---

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity Infrastructure Fund** | 4977901 | 659844 | 76606 |

---

**6. Committed Line of Credit.**

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.

Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.

Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.

The line of credit agreement will expire in March 2027 unless extended or renewed.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Infrastructure Fund** | 81 |

---

**7. Security Lending.** 

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. For cash collateral, securities lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received and is presented in the Statement of Operations as a component of income from Fidelity Central Funds. For non-cash collateral, securities lending income represents fees received from borrowers as compensation for the securities loaned and is presented in the Statement of Operations in security lending. Securities lending income is reduced by any lending agent fees associated with the loan. Affiliated security lending activity, if any, was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Security Lending Fees Paid to NFS ($)** | **Security Lending Income From Securities Loaned to NFS ($)** | **Value of Securities Loaned to NFS at Period End ($)** |
| **Fidelity Infrastructure Fund** | 165 | - | - |

---

**8. Expense Reductions.**

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $47.

**9. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**10. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

![](img131300_4.jpg)<br>

1.9896236.106 ISF-SANN-0626

Item 8.

<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>

See Item 7.

Item 9.

<u>Proxy Disclosures for Open-End Management Investment Companies</u>

See Item 7.

Item 10.

<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>

See Item 7.

Item 11.

<u>Statement Regarding Basis for Approval of Investment Advisory Contract</u>

See Item 7.

Item 12.

<u>Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies</u>

Not applicable.

Item 13.

<u>Portfolio Managers of Closed-End Management Investment Companies</u>

Not applicable.

Item 14.

<u>Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers</u>

Not applicable.

Item 15.

<u>Submission of Matters to a Vote of Security Holders</u>

There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Investment Trust's Board of Trustees.

Item 16.

<u>Controls and Procedures</u>

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Investment Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 17.

<u>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>

Not applicable.

Item 18.

<u>Recovery of Erroneously Awarded Compensation</u>

(a) Not applicable.

(b) Not applicable.

Item 19.

<u>Exhibits</u>

(a) (1) Not applicable.

(a) (2) [Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT](ex99cert.htm) .

(a) (3) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT](ex99906.htm) .

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Investment Trust

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| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
|  | &nbsp;&nbsp; Stacie M. Smith |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
|  | &nbsp;&nbsp; Stacie M. Smith |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
|  | &nbsp;&nbsp; Stephanie Caron |
|  | &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

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## Ex-99.Cert

<u>Exhibit EX-99.CERT</u>

I, Stacie M. Smith, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

June 22, 2026

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| |
|:---|
| &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
| &nbsp;&nbsp; Stacie M. Smith |
| &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |

---

I, Stephanie Caron, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Investment Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

June 22, 2026

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| |
|:---|
| &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp; Stephanie Caron |
| &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |

---

## Exhibit 99.906

<u>Exhibit EX-99.906CERT</u>

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)**

In connection with the attached Report of Fidelity Investment Trust (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: June 22, 2026

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| |
|:---|
| &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
| &nbsp;&nbsp; Stacie M. Smith |
| &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |

---

Dated: June 22, 2026

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| |
|:---|
| &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp; Stephanie Caron |
| &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

<br>