# EDGAR Filing Document

**Accession Number:** 0000744822
**File Stem:** 0000744822-26-000051
**Filing Date:** 2026-6
**Character Count:** 2375491
**Document Hash:** 1b5060167ae27f0d39f23a4697487f20
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000744822-26-000051.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0000744822-26-000051

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 223

**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:** 261105614

**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 International Discovery Fund (Series ID: S000007093)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000019407 | Fidelity International Discovery Fund                  | FIGRX           |
| C000019408 | Fidelity Advisor International Discovery Fund: Class A | FAIDX           |
| C000019410 | Fidelity Advisor International Discovery Fund: Class C | FCADX           |
| C000019411 | Fidelity Advisor International Discovery Fund: Class M | FTADX           |
| C000019412 | Fidelity Advisor International Discovery Fund: Class I | FIADX           |
| C000064259 | Class K                                                | FIDKX           |
| C000130141 | Fidelity Advisor International Discovery Fund: Class Z | FZAIX           |

### Fidelity Europe Fund (Series ID: S000007094)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000019413 | Fidelity Europe Fund                  | FIEUX           |
| C000136832 | Fidelity Advisor Europe Fund: Class A | FHJUX           |
| C000136834 | Fidelity Advisor Europe Fund: Class C | FHJTX           |
| C000136835 | Fidelity Advisor Europe Fund: Class M | FHJVX           |
| C000136836 | Fidelity Advisor Europe Fund: Class I | FHJMX           |
| C000205026 | Fidelity Advisor Europe Fund: Class Z | FIQHX           |

### Fidelity Japan Fund (Series ID: S000007096)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000019415 | Fidelity Japan Fund                  | FJPNX           |
| C000093326 | Fidelity Advisor Japan Fund: Class A | FPJAX           |
| C000093328 | Fidelity Advisor Japan Fund: Class C | FJPCX           |
| C000093329 | Fidelity Advisor Japan Fund: Class M | FJPTX           |
| C000093330 | Fidelity Advisor Japan Fund: Class I | FJPIX           |
| C000205027 | Fidelity Advisor Japan Fund: Class Z | FIQLX           |

### Fidelity Japan Smaller Companies Fund (Series ID: S000007097)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000019416 | Fidelity Japan Smaller Companies Fund | FJSCX           |

### Fidelity Nordic Fund (Series ID: S000007099)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000019418 | Fidelity Nordic Fund | FNORX           |

### Fidelity Overseas Fund (Series ID: S000007100)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000019419 | Fidelity Overseas Fund                  | FOSFX           |
| C000064260 | Class K                                 | FOSKX           |
| C000259423 | Fidelity Advisor Overseas Fund: Class Z | FVOZX           |
| C000259424 | Fidelity Advisor Overseas Fund: Class I | FOVHX           |
| C000259425 | Fidelity Advisor Overseas Fund: Class A | FOVBX           |
| C000259426 | Fidelity Advisor Overseas Fund: Class M | FOVMX           |
| C000259427 | Fidelity Advisor Overseas Fund: Class C | FOVDX           |

### Fidelity Pacific Basin Fund (Series ID: S000007101)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000019420 | Fidelity Pacific Basin Fund | FPBFX           |

### Fidelity Emerging Asia Fund (Series ID: S000007102)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000019421 | Fidelity Emerging Asia Fund | FSEAX           |

### Fidelity Worldwide Fund (Series ID: S000007103)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000019422 | Fidelity Worldwide Fund                  | FWWFX           |
| C000074282 | Fidelity Advisor Worldwide Fund: Class A | FWAFX           |
| C000074284 | Fidelity Advisor Worldwide Fund: Class C | FWCFX           |
| C000074285 | Fidelity Advisor Worldwide Fund: Class M | FWTFX           |
| C000074286 | Fidelity Advisor Worldwide Fund: Class I | FWIFX           |
| C000205029 | Fidelity Advisor Worldwide Fund: Class Z | FIQOX           |

### Fidelity International Small Cap Fund (Series ID: S000007104)

| Class ID   | Class Name                                             | Ticker Symbol   |
|:---|:---|:---|
| C000019423 | Fidelity International Small Cap Fund                  | FISMX           |
| C000019424 | Fidelity Advisor International Small Cap Fund: Class A | FIASX           |
| C000019426 | Fidelity Advisor International Small Cap Fund: Class C | FICSX           |
| C000019427 | Fidelity Advisor International Small Cap Fund: Class M | FTISX           |
| C000019428 | Fidelity Advisor International Small Cap Fund: Class I | FIXIX           |
| C000205030 | Fidelity Advisor International Small Cap Fund: Class Z | FIQIX           |

### Fidelity International Small Cap Opportunities Fund (Series ID: S000007105)

| Class ID   | Class Name                                                           | Ticker Symbol   |
|:---|:---|:---|
| C000019429 | Fidelity International Small Cap Opportunities Fund                  | FSCOX           |
| C000019430 | Fidelity Advisor International Small Cap Opportunities Fund: Class A | FOPAX           |
| C000019432 | Fidelity Advisor International Small Cap Opportunities Fund: Class C | FOPCX           |
| C000019433 | Fidelity Advisor International Small Cap Opportunities Fund: Class M | FOPTX           |
| C000019434 | Fidelity Advisor International Small Cap Opportunities Fund: Class I | FOPIX           |
| C000205031 | Fidelity Advisor International Small Cap Opportunities Fund: Class Z | FIQJX           |

### Fidelity Canada Fund (Series ID: S000007107)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000019436 | Fidelity Canada Fund                  | FICDX           |
| C000047986 | Fidelity Advisor Canada Fund: Class A | FACNX           |
| C000047988 | Fidelity Advisor Canada Fund: Class C | FCCNX           |
| C000047989 | Fidelity Advisor Canada Fund: Class M | FTCNX           |
| C000047990 | Fidelity Advisor Canada Fund: Class I | FICCX           |
| C000205032 | Fidelity Advisor Canada Fund: Class Z | FIQEX           |

### Fidelity China Region Fund (Series ID: S000007108)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000019437 | Fidelity China Region Fund                  | FHKCX           |
| C000064261 | Fidelity Advisor China Region Fund: Class A | FHKAX           |
| C000064263 | Fidelity Advisor China Region Fund: Class C | FCHKX           |
| C000064264 | Fidelity Advisor China Region Fund: Class M | FHKTX           |
| C000064265 | Fidelity Advisor China Region Fund: Class I | FHKIX           |
| C000205033 | Fidelity Advisor China Region Fund: Class Z | FIQFX           |

### Fidelity Diversified International Fund (Series ID: S000007109)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000019438 | Fidelity Diversified International Fund | FDIVX           |
| C000064266 | Class K                                 | FDIKX           |

### Fidelity Emerging Markets Fund (Series ID: S000007110)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000019439 | Fidelity Emerging Markets Fund                  | FEMKX           |
| C000064267 | Class K                                         | FKEMX           |
| C000225960 | Fidelity Advisor Emerging Markets Fund: Class M | FEQMX           |
| C000225961 | Fidelity Advisor Emerging Markets Fund: Class Z | FZEMX           |
| C000225962 | Fidelity Advisor Emerging Markets Fund: Class A | FEDMX           |
| C000225963 | Fidelity Advisor Emerging Markets Fund: Class C | FEMMX           |
| C000225964 | Fidelity Advisor Emerging Markets Fund: Class I | FECMX           |

### Fidelity International Value Fund (Series ID: S000012165)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000033179 | Fidelity International Value Fund                  | FIVLX           |
| C000033180 | Fidelity Advisor International Value Fund: Class A | FIVMX           |
| C000033182 | Fidelity Advisor International Value Fund: Class C | FIVOX           |
| C000033183 | Fidelity Advisor International Value Fund: Class M | FIVPX           |
| C000033184 | Fidelity Advisor International Value Fund: Class I | FIVQX           |
| C000205034 | Fidelity Advisor International Value Fund: Class Z | FIQKX           |

### Fidelity International Growth Fund (Series ID: S000019397)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000053902 | Fidelity International Growth Fund                  | FIGFX           |
| C000053903 | Fidelity Advisor International Growth Fund: Class A | FIAGX           |
| C000053905 | Fidelity Advisor International Growth Fund: Class C | FIGCX           |
| C000053906 | Fidelity Advisor International Growth Fund: Class M | FITGX           |
| C000053907 | Fidelity Advisor International Growth Fund: Class I | FIIIX           |
| C000130142 | Fidelity Advisor International Growth Fund: Class Z | FZAJX           |

### Fidelity Total International Equity Fund (Series ID: S000019398)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000053908 | Fidelity Advisor Total International Equity Fund: Class C | FTCEX           |
| C000053909 | Fidelity Advisor Total International Equity Fund: Class M | FTTEX           |
| C000053910 | Fidelity Advisor Total International Equity Fund: Class I | FTEIX           |
| C000053911 | Fidelity Total International Equity Fund                  | FTIEX           |
| C000053912 | Fidelity Advisor Total International Equity Fund: Class A | FTAEX           |
| C000177513 | Fidelity Advisor Total International Equity Fund: Class Z | FIEZX           |

### Fidelity Emerging Markets Discovery Fund (Series ID: S000034264)

| Class ID   | Class Name                                                | Ticker Symbol   |
|:---|:---|:---|
| C000105577 | Fidelity Emerging Markets Discovery Fund                  | FEDDX           |
| C000105578 | Fidelity Advisor Emerging Markets Discovery Fund: Class A | FEDAX           |
| C000105579 | Fidelity Advisor Emerging Markets Discovery Fund: Class C | FEDGX           |
| C000105580 | Fidelity Advisor Emerging Markets Discovery Fund: Class M | FEDTX           |
| C000105581 | Fidelity Advisor Emerging Markets Discovery Fund: Class I | FEDIX           |
| C000205036 | Fidelity Advisor Emerging Markets Discovery Fund: Class Z | FIQGX           |

### Fidelity Global Equity Income Fund (Series ID: S000036874)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000112814 | Fidelity Global Equity Income Fund                  | FGILX           |
| C000254524 | Fidelity Advisor Global Equity Income Fund: Class C | FGEHX           |
| C000254525 | Fidelity Advisor Global Equity Income Fund: Class Z | FGEKX           |
| C000254526 | Fidelity Advisor Global Equity Income Fund: Class A | FGEEX           |
| C000254527 | Fidelity Advisor Global Equity Income Fund: Class M | FGEGX           |
| C000254528 | Fidelity Advisor Global Equity Income Fund: Class I | FGEJX           |

### Fidelity Diversified International K6 Fund (Series ID: S000057282)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000182858 | Fidelity Diversified International K6 Fund | FKIDX           |

### Fidelity International Capital Appreciation K6 Fund (Series ID: S000057283)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000182859 | Fidelity International Capital Appreciation K6 Fund | FAPCX           |

### Fidelity International Discovery K6 Fund (Series ID: S000065699)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000212504 | Fidelity International Discovery K6 Fund | FDKFX           |

?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 Diversified International K6 Fund, Fidelity Emerging Markets Discovery Fund, Fidelity International Value Fund, Fidelity Global Equity Income Fund, Fidelity Diversified International Fund, Fidelity Overseas Fund, Fidelity Worldwide Fund, Fidelity International Growth Fund, Fidelity International Discovery K6 Fund, Fidelity International Discovery Fund, Fidelity International Small Cap Opportunities Fund, Fidelity International Small Cap Fund, Fidelity International Capital Appreciation K6 Fund, Fidelity Total International Equity Fund, Fidelity Canada Fund, Fidelity China Region Fund, Fidelity Emerging Asia Fund, Fidelity Emerging Markets Fund, Fidelity Europe Fund, Fidelity Japan Fund, Fidelity Japan Smaller Companies Fund, Fidelity Nordic Fund, and Fidelity Pacific Basin Fund (the "Funds").

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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® Worldwide Fund  | $47  | 0.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130897_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> 1.9915657.101 318-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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  | $44  | 0.83% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130898_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> 1.9915658.101 3273-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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  | $76  | 1.45% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130899_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> 1.9915655.101 2146-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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  | 0.95% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130900_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> 1.9915656.101 2147-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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  | $102  | 1.95% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130901_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> 1.9915654.101 2145-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Worldwide 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  | $63  | 1.20% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $3760110256<br>|
| Number of Holdings | 195<br>|
| Portfolio Turnover | 121%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.1 |
| Industrials | 14.2 |
| Consumer Discretionary | 11.0 |
| Communication Services | 10.6 |
| Financials | 10.5 |
| Health Care | 8.2 |
| Materials | 3.3 |
| Energy | 2.9 |
| Consumer Staples | 1.7 |
| Utilities | 0.5 |
| Real Estate | 0.3 |

---

Common Stocks 98.5 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img318_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.7 |

---

---

| | |
|:---|:---|
| United States | 66.8 |
| United Kingdom | 4.6 |
| Taiwan | 4.5 |
| Japan | 4.2 |
| Canada | 2.9 |
| Spain | 1.6 |
| Switzerland | 1.6 |
| China | 1.6 |
| Australia | 1.5 |
| Others | 10.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img318_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 66.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 4.6&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;Japan - 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;Canada - 2.9&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 - 1.6&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;Switzerland - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;China - 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;Australia - 1.5&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;Others - 10.7&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)**  |  |
| Alphabet Inc Class A | 7.9<br>|
| NVIDIA Corp | 6.5<br>|
| Amazon.com Inc | 4.4<br>|
| Western Digital Corp | 3.8<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 3.7<br>|
| Eli Lilly & Co | 2.8<br>|
| Cummins Inc | 2.7<br>|
| PrairieSky Royalty Ltd | 2.2<br>|
| Intel Corp | 2.1<br>|
| Corning Inc | 1.9<br>|
|  | 38.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img318_20260430_1.jpg)<br>| ![](img130902_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> 1.9915653.101 2143-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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® Total International Equity Fund  | $44  | 0.83% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130911_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> 1.9915743.101 1978-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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  | $39  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130912_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> 1.9915748.101 2892-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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  | $72  | 1.38% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130913_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> 1.9915746.101 1983-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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  | $46  | 0.88% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130914_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> 1.9915747.101 1984-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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  | $98  | 1.88% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130915_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> 1.9915745.101 1982-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Total 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  | $59  | 1.13% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2190106334<br>|
| Number of Holdings | 304<br>|
| Portfolio Turnover | 69%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.5 |
| Financials | 21.2 |
| Information Technology | 18.3 |
| Materials | 10.9 |
| Consumer Discretionary | 6.2 |
| Health Care | 5.7 |
| Energy | 5.5 |
| Communication Services | 3.5 |
| Consumer Staples | 2.4 |
| Utilities | 1.3 |
| Real Estate | 0.3 |

---

Common Stocks 98.8 <br> Preferred Stocks 0.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1978_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.8&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) - 1.2 |

---

---

| | |
|:---|:---|
| United States | 11.3 |
| Japan | 10.7 |
| China | 9.6 |
| United Kingdom | 8.8 |
| Taiwan | 8.6 |
| Canada | 7.4 |
| France | 6.3 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Others | 29.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1978_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 10.7&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;China - 9.6&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 - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 8.6&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;Canada - 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; |
| &nbsp;&nbsp;France - 6.3&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Others - 29.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.7<br>|
| Samsung Electronics Co Ltd | 3.0<br>|
| ASML Holding NV | 2.4<br>|
| Tencent Holdings Ltd | 1.8<br>|
| CRH PLC | 1.6<br>|
| BAE Systems PLC | 1.4<br>|
| MediaTek Inc | 1.3<br>|
| Franco-Nevada Corp | 1.2<br>|
| Mitsubishi Heavy Industries Ltd | 1.2<br>|
| Banco Santander SA | 1.1<br>|
|  | 19.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1978_20260430_1.jpg)<br>| ![](img130916_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> 1.9915744.101 1980-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Pacific Basin 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® Pacific Basin Fund  | $53  | 0.98% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1169739923<br>|
| Number of Holdings | 111<br>|
| Portfolio Turnover | 75%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.9 |
| Consumer Discretionary | 15.0 |
| Industrials | 13.8 |
| Financials | 13.1 |
| Communication Services | 8.8 |
| Health Care | 4.9 |
| Materials | 4.8 |
| Consumer Staples | 3.6 |
| Real Estate | 0.9 |
| Energy | 0.4 |

---

Common Stocks 94.4 <br> Preferred Stocks 2.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img302_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 94.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.8 |

---

---

| | |
|:---|:---|
| Japan | 34.3 |
| China | 16.0 |
| Taiwan | 15.3 |
| Korea (South) | 13.4 |
| United States | 8.7 |
| Australia | 6.3 |
| Hong Kong | 2.5 |
| Indonesia | 1.4 |
| Thailand | 1.4 |
| Others | 0.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img302_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 34.3&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;China - 16.0&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 - 15.3&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;Korea (South) - 13.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 6.3&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;Hong Kong - 2.5&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;Indonesia - 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;Thailand - 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;Others - 0.7&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 12.8<br>|
| Tencent Holdings Ltd | 4.4<br>|
| Samsung Electronics Co Ltd | 4.1<br>|
| Kioxia Holdings Corp | 2.2<br>|
| Hitachi Ltd | 2.1<br>|
| AIA Group Ltd | 2.1<br>|
| Samsung Electronics Co Ltd non-voting shares | 2.0<br>|
| Panasonic Holdings Corp | 1.9<br>|
| Renesas Electronics Corp | 1.9<br>|
| Hoya Corp | 1.7<br>|
|  | 35.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img302_20260430_1.jpg)<br>| ![](img130965_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> 1.9915635.101 302-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® Overseas Fund  | $28  | 0.55% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img130966_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> 1.9915607.101 94-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-800-835-5092 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 K  | $24  | 0.48% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img130967_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> 1.9915606.101 2099-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Nordic 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® Nordic Fund  | $46  | 0.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $357756259<br>|
| Number of Holdings | 70<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 38.8 |
| Financials | 20.5 |
| Information Technology | 13.3 |
| Health Care | 10.7 |
| Materials | 4.6 |
| Energy | 3.5 |
| Consumer Staples | 2.8 |
| Consumer Discretionary | 1.5 |
| Utilities | 1.3 |
| Real Estate | 0.6 |
| Communication Services | 0.3 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img342_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

---

| | |
|:---|:---|
| Sweden | 42.0 |
| Denmark | 21.3 |
| Finland | 13.9 |
| Norway | 12.1 |
| Germany | 2.3 |
| Taiwan | 2.2 |
| United Kingdom | 2.1 |
| United States | 2.1 |
| France | 1.2 |
| Others | 0.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img342_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Sweden - 42.0&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;Denmark - 21.3&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;Finland - 13.9&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;Norway - 12.1&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;Germany - 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;Taiwan - 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;United Kingdom - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United States - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Others - 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)**  |  |
| Novo Nordisk A/S Series B | 6.4<br>|
| Atlas Copco AB B Shares | 5.6<br>|
| Investor AB B Shares | 5.2<br>|
| Nordea Bank Abp (Sweden) | 4.7<br>|
| Nokia Oyj | 4.6<br>|
| Sandvik AB | 4.3<br>|
| Danske Bank A/S | 4.0<br>|
| DSV A/S | 4.0<br>|
| Vestas Wind Systems A/S | 3.4<br>|
| Swedbank AB A1 Shares | 3.1<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. |
| ![](img342_20260430_1.jpg)<br>| ![](img130968_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> 1.9915676.101 342-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Japan Smaller Companies Fund<br> **Fidelity® Japan Smaller Companies Fund : FJSCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Japan Smaller Companies 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® Japan Smaller Companies Fund  | $46  | 0.85% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $424454513<br>|
| Number of Holdings | 90<br>|
| Portfolio Turnover | 58%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 30.3 |
| Information Technology | 14.1 |
| Financials | 13.5 |
| Materials | 11.8 |
| Consumer Discretionary | 11.2 |
| Consumer Staples | 6.8 |
| Health Care | 2.4 |
| Energy | 2.4 |
| Real Estate | 2.4 |
| Utilities | 1.7 |
| Communication Services | 0.5 |

---

Common Stocks 97.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img360_20260430_AA.jpg) <br>|

---

Common Stocks - 97.1&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) - 2.9 <br>

Japan 97.1 <br> United States 2.9

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img360_20260430_GD.jpg) <br>|

---

Japan - 97.1&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; <br> United States - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Kioxia Holdings Corp | 3.9<br>|
| Hokuhoku Financial Group Inc | 3.2<br>|
| Renesas Electronics Corp | 2.5<br>|
| Sompo Holdings Inc | 2.4<br>|
| Visional Inc | 2.3<br>|
| Ebara Corp | 2.3<br>|
| Panasonic Holdings Corp | 2.0<br>|
| Ajinomoto Co Inc | 1.9<br>|
| ORIX Corp | 1.8<br>|
| Senshu Electric Co Ltd | 1.7<br>|
|  | 24.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img360_20260430_1.jpg)<br>| ![](img130969_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> 1.9915696.101 360-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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® Japan Fund  | $47  | 0.87% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130970_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> 1.9915688.101 350-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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  | $42  | 0.78% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130971_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> 1.9915687.101 3270-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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  | $76  | 1.42% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130972_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> 1.9915685.101 2259-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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  | $49  | 0.91% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130973_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> 1.9915686.101 2260-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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  | $103  | 1.92% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130974_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> 1.9915684.101 2258-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Japan 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  | $63  | 1.17% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1037115807<br>|
| Number of Holdings | 93<br>|
| Portfolio Turnover | 43%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.5 |
| Information Technology | 16.3 |
| Financials | 13.9 |
| Consumer Discretionary | 12.1 |
| Materials | 11.9 |
| Health Care | 7.3 |
| Consumer Staples | 5.6 |
| Communication Services | 3.8 |
| Energy | 1.4 |
| Real Estate | 1.1 |

---

Common Stocks 97.9 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img350_20260430_AA.jpg) <br>|

---

Common Stocks - 97.9&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) - 2.1 <br>

Japan 96.8 <br> United States 3.0 <br> Korea (South) 0.2

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img350_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 96.8&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 States - 3.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 0.2&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)**  |  |
| Sumitomo Mitsui Financial Group Inc | 5.4<br>|
| Hitachi Ltd | 3.8<br>|
| Toyota Motor Corp | 3.3<br>|
| Renesas Electronics Corp | 2.8<br>|
| Kioxia Holdings Corp | 2.7<br>|
| Hoya Corp | 2.5<br>|
| Mizuho Financial Group Inc | 2.5<br>|
| Furukawa Electric Co Ltd | 2.4<br>|
| ORIX Corp | 2.2<br>|
| Chugai Pharmaceutical Co Ltd | 2.2<br>|
|  | 29.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img350_20260430_1.jpg)<br>| ![](img130975_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> 1.9915683.101 2256-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® International Value Fund  | $40  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130976_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> 1.9915737.101 1597-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $36  | 0.68% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130977_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> 1.9915742.101 3269-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $68  | 1.30% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130978_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> 1.9915740.101 1615-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $42  | 0.80% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130979_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> 1.9915741.101 1616-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $94  | 1.80% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130980_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> 1.9915739.101 1614-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $55  | 1.05% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $4455711259<br>|
| Number of Holdings | 108<br>|
| Portfolio Turnover | 33%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 38.3 |
| Industrials | 14.6 |
| Materials | 10.8 |
| Energy | 7.5 |
| Health Care | 7.1 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.7 |
| Utilities | 3.6 |
| Information Technology | 3.1 |
| Communication Services | 2.5 |
| Real Estate | 0.8 |

---

Common Stocks 97.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1597_20260430_AA.jpg) <br>|

---

Common Stocks - 97.8&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) - 2.2 <br>

---

| | |
|:---|:---|
| Japan | 20.7 |
| United Kingdom | 17.2 |
| United States | 13.0 |
| Germany | 10.9 |
| France | 8.9 |
| Spain | 4.8 |
| Italy | 4.8 |
| Australia | 3.9 |
| Switzerland | 2.7 |
| Others | 13.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1597_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.7&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 - 17.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 13.0&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;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;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;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. |
| ![](img1597_20260430_1.jpg)<br>| ![](img130981_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> 1.9915738.101 1612-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 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® International Small Cap Opportunities Fund  | $42  | 0.81% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130984_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> 1.9915735.101 1504-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Small Cap Opportunities Fund<br> **Fidelity Advisor® International Small Cap Opportunities Fund Class Z : FIQJX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 1-877-208-0098 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  | $38  | 0.74% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130985_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> 1.9915736.101 3268-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Small Cap Opportunities Fund<br> **Fidelity Advisor® International Small Cap Opportunities Fund Class M : FOPTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 1-877-208-0098 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  | $70  | 1.36% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130986_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> 1.9915733.101 1484-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Small Cap Opportunities Fund<br> **Fidelity Advisor® International Small Cap Opportunities Fund Class I : FOPIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 1-877-208-0098 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  | $45  | 0.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130987_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> 1.9915734.101 1485-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Small Cap Opportunities Fund<br> **Fidelity Advisor® International Small Cap Opportunities Fund Class C : FOPCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 1-877-208-0098 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  | $96  | 1.87% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130988_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> 1.9915732.101 1483-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Small Cap Opportunities Fund<br> **Fidelity Advisor® International Small Cap Opportunities Fund Class A : FOPAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Small Cap 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 1-877-208-0098 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  | $58  | 1.11% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1656958695<br>|
| Number of Holdings | 201<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 14.3 |
| Consumer Discretionary | 14.1 |
| Financials | 9.3 |
| Materials | 7.7 |
| Consumer Staples | 4.2 |
| Health Care | 4.1 |
| Real Estate | 4.0 |
| Energy | 3.3 |
| Communication Services | 2.1 |
| Utilities | 0.3 |

---

Common Stocks 96.6 <br> International Equity Funds 1.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.4

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1504_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; |
| International Equity Funds - 1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.4 |

---

---

| | |
|:---|:---|
| Japan | 29.6 |
| United Kingdom | 16.5 |
| Sweden | 10.0 |
| United States | 6.7 |
| Netherlands | 4.8 |
| Canada | 4.1 |
| France | 3.9 |
| Italy | 3.2 |
| Belgium | 3.2 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1504_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 29.6&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 - 16.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 10.0&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;United States - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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;France - 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;&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;Belgium - 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;Others - 18.0&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)**  |  |
| Lagercrantz Group AB B Shares | 3.0<br>|
| Games Workshop Group PLC | 2.9<br>|
| AddTech AB B Shares | 2.8<br>|
| BE Semiconductor Industries NV | 2.3<br>|
| KBC Ancora | 2.3<br>|
| Interpump Group SpA | 2.2<br>|
| Azbil Corp | 2.1<br>|
| Oxford Instruments PLC | 2.0<br>|
| Howden Joinery Group PLC | 1.9<br>|
| InterContinental Hotels Group PLC ADR | 1.8<br>|
|  | 23.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1504_20260430_1.jpg)<br>| ![](img130989_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> 1.9915731.101 1481-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® International Small Cap Fund  | $37  | 0.71% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130990_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> 1.9915716.101 818-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $34  | 0.64% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130991_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> 1.9915715.101 3267-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $66  | 1.25% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130992_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> 1.9915713.101 1261-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $40  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130993_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> 1.9915714.101 1262-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $92  | 1.76% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130994_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> 1.9915712.101 1260-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $53  | 1.00% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5593934974<br>|
| Number of Holdings | 180<br>|
| Portfolio Turnover | 39%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 23.8 |
| Financials | 15.2 |
| Materials | 12.5 |
| Consumer Discretionary | 9.6 |
| Information Technology | 9.5 |
| Consumer Staples | 6.8 |
| Health Care | 5.8 |
| Real Estate | 5.4 |
| Communication Services | 4.1 |
| Energy | 4.0 |
| Utilities | 0.7 |

---

Common Stocks 97.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1135_20260430_AA.jpg) <br>|

---

Common Stocks - 97.4&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) - 2.6 <br>

---

| | |
|:---|:---|
| Japan | 26.4 |
| United Kingdom | 10.5 |
| United States | 5.2 |
| China | 5.1 |
| Taiwan | 4.5 |
| Korea (South) | 4.2 |
| Australia | 3.7 |
| Canada | 3.6 |
| Austria | 3.6 |
| Others | 33.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1135_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 26.4&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;United Kingdom - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 5.2&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;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;Korea (South) - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Australia - 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;Canada - 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;Austria - 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;Others - 33.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Test Research Co Ltd | 1.2<br>|
| Kawasaki Heavy Industries Ltd | 1.2<br>|
| Logista Integral SA | 1.1<br>|
| Subsea 7 SA | 1.1<br>|
| Vitzrocell Co Ltd | 1.1<br>|
| LG Innotek Co Ltd | 1.1<br>|
| Tripod Technology Corp | 1.1<br>|
| Maruwa Co Ltd/Aichi | 1.1<br>|
| Renesas Electronics Corp | 1.1<br>|
| Hokuhoku Financial Group Inc | 1.0<br>|
|  | 11.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1135_20260430_1.jpg)<br>| ![](img130995_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> 1.9915711.101 1258-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® International Growth Fund  | $42  | 0.82% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img130998_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> 1.9915749.101 1979-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $38  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img130999_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> 1.9915754.101 2535-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $69  | 1.36% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img131000_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> 1.9915752.101 1988-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $44  | 0.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img131001_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> 1.9915753.101 1989-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $95  | 1.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img131002_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> 1.9915751.101 1987-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $57  | 1.11% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $8149693696<br>|
| Number of Holdings | 61<br>|
| Portfolio Turnover | 62%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 41.0 |
| Information Technology | 22.2 |
| Materials | 12.2 |
| Health Care | 7.2 |
| Consumer Discretionary | 6.8 |
| Financials | 5.7 |
| Communication Services | 0.8 |
| Consumer Staples | 0.8 |

---

Common Stocks 96.5 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1979_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.5&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) - 3.3 |

---

---

| | |
|:---|:---|
| United States | 23.9 |
| Japan | 13.3 |
| France | 12.1 |
| United Kingdom | 11.6 |
| Netherlands | 9.4 |
| Sweden | 8.9 |
| Switzerland | 6.2 |
| Taiwan | 5.0 |
| Germany | 2.3 |
| Others | 7.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1979_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 23.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 13.3&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;France - 12.1&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 Kingdom - 11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Netherlands - 9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 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;Switzerland - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Taiwan - 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;Germany - 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;Others - 7.3&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV | 8.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 5.0<br>|
| Schneider Electric SE | 3.6<br>|
| CRH PLC | 3.6<br>|
| Safran SA | 3.3<br>|
| GE Vernova Inc | 3.2<br>|
| BAE Systems PLC | 3.2<br>|
| Rolls-Royce Holdings PLC | 3.0<br>|
| Airbus SE | 3.0<br>|
| Mitsubishi Heavy Industries Ltd | 2.9<br>|
|  | 38.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1979_20260430_1.jpg)<br>| ![](img131003_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> 1.9915750.101 1985-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Discovery K6 Fund<br> **Fidelity® International Discovery K6 Fund : FDKFX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Discovery K6 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 1-800-835-5092 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® International Discovery K6 Fund  | $31  | 0.60% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $598916358<br>|
| Number of Holdings | 144<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.2 |
| Financials | 22.7 |
| Information Technology | 19.9 |
| Communication Services | 9.2 |
| Consumer Discretionary | 5.9 |
| Health Care | 5.6 |
| Materials | 2.8 |
| Consumer Staples | 2.4 |
| Energy | 1.4 |
| Utilities | 1.0 |

---

Common Stocks 95.6 <br> Preferred Stocks 0.5 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img3461_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.9 |

---

---

| | |
|:---|:---|
| Japan | 19.8 |
| United Kingdom | 17.4 |
| United States | 7.4 |
| Taiwan | 6.3 |
| Germany | 6.2 |
| Netherlands | 5.9 |
| Sweden | 4.3 |
| Spain | 4.1 |
| China | 3.9 |
| Others | 24.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img3461_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 19.8&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 - 17.4&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;Taiwan - 6.3&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;Germany - 6.2&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;Netherlands - 5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Sweden - 4.3&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;Spain - 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;China - 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;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 24.7&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)**  |  |
| Zegona Communications plc | 6.3<br>|
| Taiwan Semiconductor Manufacturing Co Ltd | 4.5<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.3<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 1.9<br>|
| Mitsubishi UFJ Financial Group Inc | 1.9<br>|
| ITOCHU Corp | 1.8<br>|
| Schneider Electric SE | 1.7<br>|
|  | 28.6 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img3461_20260430_1.jpg)<br>| ![](img131004_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> 1.9915810.101 3461-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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® International Discovery Fund  | $39  | 0.75% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131005_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> 1.9915642.101 305-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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  | $35  | 0.68% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131006_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> 1.9915641.101 2534-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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  | $66  | 1.29% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131007_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> 1.9915638.101 1401-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Discovery Fund<br> **Fidelity® International Discovery Fund Class K : FIDKX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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 1-800-835-5092 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 K  | $35  | 0.68% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131008_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> 1.9915640.101 2093-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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  | $41  | 0.79% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131009_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> 1.9915639.101 1402-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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  | $92  | 1.79% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131010_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> 1.9915637.101 1399-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® International Discovery 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  | $54  | 1.04% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12541282277<br>|
| Number of Holdings | 146<br>|
| Portfolio Turnover | 77%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 25.8 |
| Financials | 23.3 |
| Information Technology | 19.7 |
| Communication Services | 7.1 |
| Consumer Discretionary | 6.0 |
| Health Care | 6.0 |
| Materials | 3.0 |
| Consumer Staples | 2.4 |
| Energy | 1.5 |
| Utilities | 1.1 |

---

Common Stocks 95.2 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 4.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img305_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 4.1 |

---

---

| | |
|:---|:---|
| Japan | 20.4 |
| United Kingdom | 15.2 |
| United States | 7.7 |
| Germany | 6.5 |
| Taiwan | 6.4 |
| Netherlands | 6.1 |
| Sweden | 4.3 |
| Spain | 4.2 |
| China | 4.2 |
| Others | 25.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img305_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.4&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;United Kingdom - 15.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 6.5&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;Taiwan - 6.4&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;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;Sweden - 4.3&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;Spain - 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;China - 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;Others - 25.0&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 4.6<br>|
| Zegona Communications plc | 3.9<br>|
| ASML Holding NV | 3.5<br>|
| Banco Santander SA | 2.5<br>|
| Investor AB B Shares | 2.4<br>|
| British American Tobacco PLC | 2.2<br>|
| Siemens AG | 2.0<br>|
| Mitsubishi UFJ Financial Group Inc | 2.0<br>|
| ITOCHU Corp | 2.0<br>|
| Schneider Electric SE | 1.8<br>|
|  | 26.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img305_20260430_1.jpg)<br>| ![](img131011_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> 1.9915636.101 1397-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® International Capital Appreciation K6 Fund<br> **Fidelity® International Capital Appreciation K6 Fund : FAPCX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® International Capital Appreciation K6 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 1-800-835-5092 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® International Capital Appreciation K6 Fund  | $34  | 0.66% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2258816802<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 141%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 33.2 |
| Information Technology | 27.0 |
| Financials | 24.1 |
| Materials | 6.7 |
| Consumer Staples | 3.3 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2953_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 100.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - (0.1)% |

---

---

| | |
|:---|:---|
| United States | 19.8 |
| Japan | 15.9 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2953_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 19.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Japan - 15.9&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 - 6.9&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;United Kingdom - 6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Israel - 6.5&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;Netherlands - 5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;India - 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;Spain - 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;Others - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 6.9<br>|
| ASML Holding NV | 3.1<br>|
| SK Hynix Inc | 2.5<br>|
| ASM International NV | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Hitachi Ltd | 2.1<br>|
| Siemens Energy AG | 2.1<br>|
| Rolls-Royce Holdings PLC | 2.1<br>|
| Next Vision Stabilized Systems Ltd | 2.0<br>|
| Celestica Inc (United States) | 2.0<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. |
| ![](img2953_20260430_1.jpg)<br>| ![](img131012_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> 1.9915794.101 2953-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Global Equity Income Fund<br> **Fidelity® Global Equity Income Fund : FGILX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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 Equity Income Fund  | $44  | 0.85% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131015_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> 1.9915780.101 2406-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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® Europe Fund  | $42  | 0.81% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131024_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> 1.9915633.101 301-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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  | $37  | 0.72% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131025_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> 1.9915634.101 3266-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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  | $70  | 1.35% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131026_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> 1.9915631.101 2635-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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  | $43  | 0.83% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131027_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> 1.9915632.101 2636-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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  | $96  | 1.85% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131028_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> 1.9915630.101 2634-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Europe 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  | $57  | 1.10% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $982760970<br>|
| Number of Holdings | 102<br>|
| Portfolio Turnover | 89%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.1 |
| Industrials | 20.8 |
| Health Care | 13.5 |
| Information Technology | 11.3 |
| Consumer Discretionary | 6.2 |
| Energy | 5.4 |
| Communication Services | 5.1 |
| Materials | 4.9 |
| Consumer Staples | 4.4 |
| Utilities | 2.4 |

---

Common Stocks 99.0 <br> Preferred Stocks 0.1 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.9

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img301_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 - 0.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.9 |

---

---

| | |
|:---|:---|
| United Kingdom | 21.3 |
| United States | 11.7 |
| France | 11.1 |
| Germany | 8.0 |
| Italy | 7.7 |
| Netherlands | 6.7 |
| Spain | 5.4 |
| Sweden | 4.9 |
| Switzerland | 4.5 |
| Others | 18.7 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img301_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United Kingdom - 21.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;France - 11.1&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;Germany - 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;Italy - 7.7&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;Netherlands - 6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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;Sweden - 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;Switzerland - 4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 18.7&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)**  |  |
| ASML Holding NV | 5.8<br>|
| Siemens Energy AG | 4.0<br>|
| Astrazeneca PLC | 3.9<br>|
| Shell PLC | 3.8<br>|
| Roche Holding AG | 3.2<br>|
| Rolls-Royce Holdings PLC | 2.9<br>|
| Banco Santander SA | 2.2<br>|
| Siemens AG | 2.1<br>|
| Schneider Electric SE | 2.1<br>|
| Prudential PLC | 1.9<br>|
|  | 31.9 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img301_20260430_1.jpg)<br>| ![](img131029_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> 1.9915629.101 2632-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® Emerging Markets Fund  | $45  | 0.86% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131032_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> 1.9915660.101 322-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $39  | 0.74% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131033_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> 1.9915665.101 6359-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $74  | 1.39% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131034_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> 1.9915663.101 6357-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-800-835-5092 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 K  | $39  | 0.74% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131035_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> 1.9915659.101 2084-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $47  | 0.88% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131036_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> 1.9915664.101 6358-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $100  | 1.89% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131037_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> 1.9915662.101 6356-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $60  | 1.14% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $10755515455<br>|
| Number of Holdings | 94<br>|
| Portfolio Turnover | 30%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 40.6 |
| Financials | 14.1 |
| Industrials | 11.5 |
| Consumer Discretionary | 7.8 |
| Communication Services | 7.7 |
| Energy | 5.3 |
| Health Care | 4.6 |
| Consumer Staples | 3.9 |
| Materials | 2.4 |
| Utilities | 0.7 |
| Real Estate | 0.6 |

---

Common Stocks 98.4 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img322_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 98.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 0.8 |

---

---

| | |
|:---|:---|
| China | 23.1 |
| Taiwan | 22.8 |
| Korea (South) | 17.4 |
| India | 9.3 |
| United States | 4.9 |
| Brazil | 4.8 |
| United Arab Emirates | 1.9 |
| France | 1.8 |
| Mexico | 1.7 |
| Others | 12.3 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img322_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 22.8&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) - 17.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 9.3&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 States - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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 Arab Emirates - 1.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 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;Mexico - 1.7&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 - 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;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 20.0<br>|
| Samsung Electronics Co Ltd | 6.6<br>|
| SK Hynix Inc | 6.3<br>|
| Tencent Holdings Ltd | 5.3<br>|
| Alibaba Group Holding Ltd ADR | 2.9<br>|
| NVIDIA Corp | 2.8<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.2<br>|
| Sieyuan Electric Co Ltd A Shares (China) | 1.7<br>|
| Gaztransport Et Technigaz SA | 1.5<br>|
| SK Square Co Ltd | 1.4<br>|
|  | 50.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img322_20260430_1.jpg)<br>| ![](img131038_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> 1.9915661.101 6355-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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® Emerging Markets Discovery Fund  | $51  | 0.93% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131039_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> 1.9915774.101 2374-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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  | 0.85% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131040_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> 1.9915779.101 3265-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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  | $81  | 1.48% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131041_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> 1.9915777.101 2377-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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  | 0.98% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131042_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> 1.9915778.101 2378-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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  | 1.98% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131043_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> 1.9915776.101 2376-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Markets Discovery 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  | 1.23% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1488600335<br>|
| Number of Holdings | 106<br>|
| Portfolio Turnover | 66%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 24.8 |
| Financials | 18.0 |
| Information Technology | 15.2 |
| Consumer Discretionary | 11.7 |
| Consumer Staples | 7.3 |
| Materials | 6.7 |
| Health Care | 6.1 |
| Energy | 3.5 |
| Real Estate | 2.3 |
| Communication Services | 2.2 |
| Utilities | 1.0 |

---

Common Stocks 98.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2374_20260430_AA.jpg) <br>|

---

Common Stocks - 98.8&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) - 1.2 <br>

---

| | |
|:---|:---|
| Taiwan | 21.2 |
| China | 17.2 |
| Korea (South) | 10.5 |
| India | 10.1 |
| Brazil | 7.7 |
| Mexico | 4.1 |
| Poland | 3.7 |
| South Africa | 3.3 |
| Indonesia | 3.0 |
| Others | 19.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2374_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 21.2&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;China - 17.2&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) - 10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 10.1&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;Brazil - 7.7&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;Mexico - 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;Poland - 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;South Africa - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Indonesia - 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;Others - 19.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Unimicron Technology Corp | 3.0<br>|
| Chroma ATE Inc | 2.2<br>|
| Bizlink Holding Inc | 2.2<br>|
| ASPEED Technology Inc | 1.9<br>|
| Sasol Ltd | 1.7<br>|
| eMemory Technology Inc | 1.6<br>|
| First Resources Ltd | 1.5<br>|
| PRIO SA/Brazil | 1.5<br>|
| Yageo Corp | 1.5<br>|
| Airtac International Group | 1.4<br>|
|  | 18.5 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2374_20260430_1.jpg)<br>| ![](img131044_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> 1.9915775.101 2375-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Emerging Asia 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® Emerging Asia Fund  | $56  | 1.03% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1945723581<br>|
| Number of Holdings | 73<br>|
| Portfolio Turnover | 98%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.1 |
| Industrials | 16.0 |
| Financials | 13.7 |
| Consumer Discretionary | 7.9 |
| Communication Services | 6.1 |
| Materials | 5.1 |
| Health Care | 3.0 |
| Consumer Staples | 1.8 |
| Energy | 1.7 |

---

Common Stocks 92.9 <br> Preferred Stocks 4.5 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.6

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img351_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; |
| Preferred Stocks - 4.5&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 |

---

---

| | |
|:---|:---|
| China | 30.7 |
| Taiwan | 30.0 |
| Korea (South) | 20.8 |
| India | 7.9 |
| Singapore | 3.8 |
| United States | 2.9 |
| Hong Kong | 1.6 |
| Indonesia | 1.2 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img351_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 30.7&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 - 30.0&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;Korea (South) - 20.8&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;Singapore - 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;United States - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Indonesia - 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;Philippines - 1.1&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 | 16.5<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.1<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Samsung Electronics Co Ltd | 2.4<br>|
| Oversea-Chinese Banking Corp Ltd | 2.2<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.0<br>|
| SK Hynix Inc | 2.0<br>|
|  | 43.0 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img351_20260430_1.jpg)<br>| ![](img131045_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> 1.9915689.101 351-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Diversified International K6 Fund<br> **Fidelity® Diversified International K6 Fund : FKIDX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Diversified International K6 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 1-800-835-5092 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® Diversified International K6 Fund  | $31  | 0.60% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $5149248045<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.9 |
| Industrials | 23.3 |
| Information Technology | 15.5 |
| Health Care | 7.8 |
| Materials | 7.4 |
| Consumer Discretionary | 6.8 |
| Energy | 4.2 |
| Consumer Staples | 3.0 |
| Utilities | 2.2 |
| Communication Services | 0.6 |

---

Common Stocks 96.0 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2947_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.3 |

---

---

| | |
|:---|:---|
| Japan | 20.1 |
| United Kingdom | 15.0 |
| United States | 11.5 |
| Germany | 8.6 |
| Spain | 5.0 |
| France | 4.8 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.8 |
| Others | 22.6 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2947_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 - 15.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.6&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;Spain - 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;France - 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;Italy - 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;Netherlands - 4.2&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;Others - 22.6&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 depository receipt | 3.3<br>|
| Banco Santander SA | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 2.4<br>|
| Rolls-Royce Holdings PLC | 2.1<br>|
| Shell PLC | 1.9<br>|
| Siemens Energy AG | 1.9<br>|
| Lloyds Banking Group PLC | 1.9<br>|
| Schneider Electric SE | 1.8<br>|
| SK Hynix Inc | 1.8<br>|
| CaixaBank SA | 1.7<br>|
|  | 21.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2947_20260430_1.jpg)<br>| ![](img131046_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> 1.9915793.101 2947-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Diversified International 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® Diversified International Fund  | $37  | 0.70% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $14466960179<br>|
| Number of Holdings | 151<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.9 |
| Industrials | 23.2 |
| Information Technology | 15.4 |
| Health Care | 7.9 |
| Materials | 7.4 |
| Consumer Discretionary | 6.8 |
| Energy | 4.1 |
| Consumer Staples | 3.0 |
| Utilities | 2.2 |
| Communication Services | 0.6 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.5

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img325_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.5 |

---

---

| | |
|:---|:---|
| Japan | 20.0 |
| United Kingdom | 15.0 |
| United States | 11.7 |
| Germany | 8.7 |
| Spain | 5.0 |
| France | 4.8 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.7 |
| Others | 22.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img325_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.0&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 Kingdom - 15.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.7&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;Spain - 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;France - 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;Italy - 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;Netherlands - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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 - 22.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV depository receipt | 3.3<br>|
| Banco Santander SA | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 2.4<br>|
| Rolls-Royce Holdings PLC | 2.1<br>|
| Shell PLC | 1.9<br>|
| Siemens Energy AG | 1.9<br>|
| Lloyds Banking Group PLC | 1.9<br>|
| Schneider Electric SE | 1.8<br>|
| SK Hynix Inc | 1.8<br>|
| CaixaBank SA | 1.7<br>|
|  | 21.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img325_20260430_1.jpg)<br>| ![](img131047_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> 1.9915667.101 325-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® Diversified International Fund<br> **Fidelity® Diversified International Fund Class K : FDIKX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® Diversified International 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 1-800-835-5092 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 K  | $33  | 0.63% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $14466960179<br>|
| Number of Holdings | 151<br>|
| Portfolio Turnover | 51%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 25.9 |
| Industrials | 23.2 |
| Information Technology | 15.4 |
| Health Care | 7.9 |
| Materials | 7.4 |
| Consumer Discretionary | 6.8 |
| Energy | 4.1 |
| Consumer Staples | 3.0 |
| Utilities | 2.2 |
| Communication Services | 0.6 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.5

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img325_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 95.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 0.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.5 |

---

---

| | |
|:---|:---|
| Japan | 20.0 |
| United Kingdom | 15.0 |
| United States | 11.7 |
| Germany | 8.7 |
| Spain | 5.0 |
| France | 4.8 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.7 |
| Others | 22.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img325_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.0&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 Kingdom - 15.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.7&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;Spain - 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;France - 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;Italy - 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;Netherlands - 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 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 - 22.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| ASML Holding NV depository receipt | 3.3<br>|
| Banco Santander SA | 2.5<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 2.4<br>|
| Rolls-Royce Holdings PLC | 2.1<br>|
| Shell PLC | 1.9<br>|
| Siemens Energy AG | 1.9<br>|
| Lloyds Banking Group PLC | 1.9<br>|
| Schneider Electric SE | 1.8<br>|
| SK Hynix Inc | 1.8<br>|
| CaixaBank SA | 1.7<br>|
|  | 21.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img325_20260430_1.jpg)<br>| ![](img131048_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> 1.9915666.101 2082-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® China Region 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® China Region Fund  | $51  | 0.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131051_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> 1.9915695.101 352-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® China Region Fund<br> **Fidelity Advisor® China Region Fund Class Z : FIQFX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® China Region 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  | 0.77% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131052_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> 1.9915694.101 3264-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® China Region Fund<br> **Fidelity Advisor® China Region Fund Class M : FHKTX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® China Region 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  | 1.43% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131053_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> 1.9915692.101 2067-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® China Region Fund<br> **Fidelity Advisor® China Region Fund Class I : FHKIX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® China Region 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  | $51  | 0.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131054_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> 1.9915693.101 2068-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® China Region Fund<br> **Fidelity Advisor® China Region Fund Class C : FCHKX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® China Region 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  | 1.93% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131055_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> 1.9915691.101 2066-TSRS-0626 <br>|

---

---

| |
|:---|
| **SEMI-ANNUAL SHAREHOLDER REPORT \|** AS OF APRIL 30, 2026 |
| Fidelity® China Region Fund<br> **Fidelity Advisor® China Region Fund Class A : FHKAX** <br>|

---

This semi-annual shareholder report contains information about Fidelity® China Region 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  | $66  | 1.18% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $2520751229<br>|
| Number of Holdings | 88<br>|
| Portfolio Turnover | 37%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 53.5 |
| Consumer Discretionary | 9.7 |
| Financials | 8.8 |
| Industrials | 8.5 |
| Communication Services | 7.3 |
| Materials | 5.0 |
| Health Care | 4.2 |
| Consumer Staples | 0.9 |
| Real Estate | 0.4 |

---

Common Stocks 96.3 <br> Preferred Stocks 2.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img352_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 1.7 |

---

---

| | |
|:---|:---|
| Taiwan | 44.9 |
| China | 43.7 |
| United States | 4.3 |
| Hong Kong | 4.1 |
| Korea (South) | 1.5 |
| South Africa | 1.4 |
| France | 0.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img352_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Taiwan - 44.9&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;China - 43.7&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 States - 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Hong Kong - 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;Korea (South) - 1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;South Africa - 1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;France - 0.1&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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 23.2<br>|
| Tencent Holdings Ltd | 5.8<br>|
| Alibaba Group Holding Ltd | 3.6<br>|
| Delta Electronics Inc | 3.4<br>|
| MediaTek Inc | 2.9<br>|
| Elite Material Co Ltd | 2.5<br>|
| Bizlink Holding Inc | 2.3<br>|
| Zijin Mining Group Co Ltd H Shares | 2.3<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| AIA Group Ltd | 2.0<br>|
|  | 50.1 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img352_20260430_1.jpg)<br>| ![](img131056_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> 1.9915690.101 2064-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 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® Canada Fund  | $35  | 0.65% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131059_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> 1.9915649.101 309-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $31  | 0.57% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131060_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> 1.9915650.101 3263-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $64  | 1.20% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131061_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> 1.9915647.101 1859-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $37  | 0.69% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131062_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> 1.9915648.101 1861-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $90  | 1.70% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131063_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> 1.9915646.101 1858-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® 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 1-877-208-0098 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  | $50  | 0.95% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1144927253<br>|
| Number of Holdings | 69<br>|
| Portfolio Turnover | 19%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 28.0 |
| Energy | 19.5 |
| Materials | 16.7 |
| Industrials | 12.1 |
| Consumer Discretionary | 7.8 |
| Consumer Staples | 7.2 |
| Information Technology | 6.9 |
| Communication Services | 1.1 |

---

Common Stocks 99.1 <br> Preferred Stocks 0.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 0.7

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img309_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 99.1&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) - 0.7 |

---

---

| | |
|:---|:---|
| Canada | 90.3 |
| United States | 4.0 |
| Brazil | 3.5 |
| Chile | 1.3 |
| Zambia | 0.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img309_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Canada - 90.3&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 States - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Brazil - 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;&nbsp;&nbsp; |
| &nbsp;&nbsp;Chile - 1.3&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;Zambia - 0.9&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)**  |  |
| Royal Bank of Canada | 8.5<br>|
| Toronto Dominion Bank | 5.0<br>|
| Canadian Pacific Kansas City Ltd | 4.9<br>|
| Canadian Natural Resources Ltd | 4.9<br>|
| Franco-Nevada Corp | 4.8<br>|
| Alimentation Couche-Tard Inc | 4.1<br>|
| PrairieSky Royalty Ltd | 4.0<br>|
| Suncor Energy Inc | 3.8<br>|
| Shopify Inc Class A | 3.7<br>|
| Wheaton Precious Metals Corp | 3.5<br>|
|  | 47.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img309_20260430_1.jpg)<br>| ![](img131064_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> 1.9915645.101 1856-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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  | $73  | 1.40% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131107_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> 1.9918443.101 7767-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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  | $98  | 1.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131108_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> 1.9918441.101 7768-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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  | $46  | 0.89% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131109_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> 1.9918445.101 7769-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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  | $40  | 0.76% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131110_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> 1.9918447.101 7770-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Global Equity Income 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  | $60  | 1.15% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $467170275<br>|
| Number of Holdings | 150<br>|
| Portfolio Turnover | 3%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 27.0 |
| Financials | 13.1 |
| Industrials | 12.1 |
| Health Care | 10.7 |
| Communication Services | 8.5 |
| Consumer Staples | 7.7 |
| Consumer Discretionary | 7.0 |
| Energy | 4.5 |
| Utilities | 3.4 |
| Materials | 2.2 |
| Real Estate | 1.0 |

---

Common Stocks 97.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img2406_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; <br> Short-Term Investments and Net Other Assets (Liabilities) - 2.8 <br>

---

| | |
|:---|:---|
| United States | 58.8 |
| United Kingdom | 8.8 |
| Taiwan | 5.5 |
| Canada | 4.0 |
| Korea (South) | 4.0 |
| Germany | 3.9 |
| Japan | 3.8 |
| France | 2.8 |
| Netherlands | 2.0 |
| Others | 6.4 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img2406_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 58.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;United Kingdom - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 5.5&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;Canada - 4.0&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;Korea (South) - 4.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Germany - 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;Japan - 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 - 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; |
| &nbsp;&nbsp;Netherlands - 2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Others - 6.4&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 5.5<br>|
| Apple Inc | 5.2<br>|
| Alphabet Inc Class A | 4.8<br>|
| Microsoft Corp | 4.3<br>|
| Samsung Electronics Co Ltd | 4.0<br>|
| Broadcom Inc | 2.6<br>|
| JPMorgan Chase & Co | 2.3<br>|
| Rheinmetall AG | 2.0<br>|
| NXP Semiconductors NV | 2.0<br>|
| AbbVie Inc | 1.6<br>|
|  | 34.3 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img2406_20260430_1.jpg)<br>| ![](img131111_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> 1.9918439.101 7766-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Overseas Fund for the period November 13, 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 A | $51  | 1.09% |

---

AExpenses for the full reporting period would be higher.

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img131122_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> 1.9919133.100 9061-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Overseas Fund for the period November 13, 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 A | $40  | 0.84% |

---

AExpenses for the full reporting period would be higher.

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img131123_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> 1.9919131.100 9059-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Overseas Fund for the period November 13, 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 A | $74  | 1.57% |

---

AExpenses for the full reporting period would be higher.

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img131124_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> 1.9919135.100 9062-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Overseas Fund for the period November 13, 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 A | $28  | 0.59% |

---

AExpenses for the full reporting period would be higher.

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img131125_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> 1.9919137.100 9063-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity® Overseas Fund for the period November 13, 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 A | $22  | 0.46% |

---

AExpenses for the full reporting period would be higher.

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $7653462377<br>|
| Number of Holdings | 81<br>|
| Portfolio Turnover | 76%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Industrials | 27.9 |
| Financials | 22.8 |
| Information Technology | 13.7 |
| Health Care | 10.6 |
| Materials | 8.7 |
| Consumer Staples | 4.8 |
| Consumer Discretionary | 4.0 |
| Utilities | 3.4 |
| Energy | 1.8 |
| Communication Services | 1.0 |

---

Common Stocks 98.7 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img94_20260430_AA.jpg) <br>|

---

Common Stocks - 98.7&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) - 1.3 <br>

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 16.1 |
| United States | 14.0 |
| Germany | 8.0 |
| Spain | 7.5 |
| France | 7.5 |
| Netherlands | 6.2 |
| Italy | 4.1 |
| Sweden | 2.6 |
| Others | 13.8 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img94_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;Japan - 20.2&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 - 16.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 14.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 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;Spain - 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;  |
| &nbsp;&nbsp;France - 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; |
| &nbsp;&nbsp;Netherlands - 6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Italy - 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;Sweden - 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 - 13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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 | 2.5<br>|
| Iberdrola SA | 2.4<br>|
| Allianz SE | 2.4<br>|
| Safran SA | 2.3<br>|
| CaixaBank SA | 2.2<br>|
| Roche Holding AG | 2.2<br>|
|  | 26.7 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img94_20260430_1.jpg)<br>| ![](img131126_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> 1.9919139.100 9064-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's Targeted International Equity Funds®**

**Fidelity® Canada Fund**

**Fidelity® China Region Fund**

**Fidelity® Emerging Asia Fund**

**Fidelity® Emerging Markets Fund**

**Fidelity® Europe Fund**

**Fidelity® Japan Fund**

**Fidelity® Japan Smaller Companies Fund**

**Fidelity® Nordic Fund**

**Fidelity® Pacific Basin Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131255_1.jpg)

![](img131255_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_TIF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Canada Fund](#Sub_Sec_Fund_309_TIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® China Region Fund](#Sub_Sec_Fund_352_TIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Emerging Asia Fund](#Sub_Sec_Fund_351_TIF-SANN)** |
| **[Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7Consolidated_TIF-SANN_1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Emerging Markets Fund](#Sub_Sec_Fund_322_TIF-SANN)** |
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_TIF-SANN_2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Europe Fund](#Sub_Sec_Fund_301_TIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Japan Fund](#Sub_Sec_Fund_350_TIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Japan Smaller Companies Fund](#Sub_Sec_Fund_360_TIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Nordic Fund](#Sub_Sec_Fund_342_TIF-SANN)** |
| **[Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7Consolidated_TIF-SANN_3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Pacific Basin Fund](#Sub_Sec_Fund_302_TIF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_TIF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_TIF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_TIF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_TIF-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 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® Canada Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.1%** | &nbsp;&nbsp;**Common Stocks - 99.1%** | &nbsp;&nbsp;**Common Stocks - 99.1%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 3.5%  |  |  |
| Materials - 3.5% |  |  |
| Metals & Mining - 3.5% |  |  |
| Wheaton Precious Metals Corp  | 315222 | 39817272 |
| CANADA - 90.1%  |  |  |
| Communication Services - 1.1% |  |  |
| Diversified Telecommunication Services - 1.1% |  |  |
| Quebecor Inc Multiple Voting Shares  | 321519 | 13018401 |
| Consumer Discretionary - 7.2% |  |  |
| Broadline Retail - 3.0% |  |  |
| Dollarama Inc  | 270341 | 34550151 |
| Hotels, Restaurants & Leisure - 1.8% |  |  |
| Restaurant Brands International Inc  | 259674 | 20954001 |
| Specialty Retail - 2.3% |  |  |
| Aritzia Inc Subordinate Voting Shares (c) | 96226 | 10156382 |
| Diversified Royalty Corp  | 2014150 | 6331520 |
| KITS Eyecare Ltd (c) | 118784 | 1230383 |
| Pet Valu Holdings Ltd  | 521413 | 8164652 |
|  |  | 25882937 |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Canada Goose Holdings Inc Subordinate Voting Shares (c) | 142176 | 1619216 |
| TOTAL CONSUMER DISCRETIONARY |  | 83006305 |
| Consumer Staples - 7.2% |  |  |
| Beverages - 0.0% |  |  |
| GURU Organic Energy Corp (c) | 237100 | 698200 |
| Consumer Staples Distribution & Retail - 6.8% |  |  |
| Alimentation Couche-Tard Inc  | 798028 | 47211345 |
| Metro Inc/CN  | 338875 | 22717236 |
| North West Co Inc/The  | 201761 | 7557404 |
|  |  | 77485985 |
| Personal Care Products - 0.4% |  |  |
| Jamieson Wellness Inc (a)(b) | 175563 | 4369849 |
| TOTAL CONSUMER STAPLES |  | 82554034 |
| Energy - 19.3% |  |  |
| Energy Equipment & Services - 1.1% |  |  |
| Pason Systems Inc  | 594589 | 6115072 |
| TerraVest Industries Inc  | 63672 | 6494933 |
|  |  | 12610005 |
| Oil, Gas & Consumable Fuels - 18.2% |  |  |
| Cameco Corp  | 95330 | 11718779 |
| Canadian Natural Resources Ltd  | 1161775 | 55456614 |
| Imperial Oil Ltd (d) | 216244 | 28967319 |
| PrairieSky Royalty Ltd  | 1814518 | 45832159 |
| South Bow Corp  | 670154 | 22941187 |
| Suncor Energy Inc  | 639607 | 43828630 |
|  |  | 208744688 |
| TOTAL ENERGY |  | 221354693 |
| Financials - 28.0% |  |  |
| Banks - 16.2% |  |  |
| Bank of Montreal  | 205653 | 31315395 |
| Royal Bank of Canada  | 536367 | 96469851 |
| Toronto Dominion Bank  | 528227 | 56903933 |
|  |  | 184689179 |
| Capital Markets - 4.5% |  |  |
| Brookfield Asset Management Ltd Class A  | 324418 | 15586203 |
| Brookfield Corp Class A  | 408098 | 18431783 |
| TMX Group Ltd  | 435476 | 17760791 |
|  |  | 51778777 |
| Insurance - 7.3% |  |  |
| Definity Financial Corp  | 469696 | 23945557 |
| Intact Financial Corp  | 150033 | 28909808 |
| Sun Life Financial Inc  | 416764 | 30028117 |
|  |  | 82883482 |
| TOTAL FINANCIALS |  | 319351438 |
| Industrials - 9.6% |  |  |
| Commercial Services & Supplies - 0.8% |  |  |
| BOYD GROUP INC  | 72867 | 9007323 |
| Ground Transportation - 6.6% |  |  |
| Canadian National Railway Co  | 117654 | 13214908 |
| Canadian Pacific Kansas City Ltd  | 646424 | 56221542 |
| TFI International Inc  | 45662 | 6533564 |
|  |  | 75970014 |
| Professional Services - 2.2% |  |  |
| Thomson Reuters Corp  | 265217 | 25370705 |
| TOTAL INDUSTRIALS |  | 110348042 |
| Information Technology - 6.7% |  |  |
| IT Services - 3.7% |  |  |
| Shopify Inc Class A (c) | 348533 | 42305828 |
| Software - 3.0% |  |  |
| ApplyBoard Inc (c)(e)(f) | 1677 | 6960 |
| ApplyBoard Inc non-voting shares (c)(e)(f) | 414 | 1717 |
| Constellation Software Inc/Canada  | 17788 | 32396331 |
| Constellation Software Inc/Canada warrants 3/31/2040 (c)(f) | 19300 | 1 |
| Dye & Durham Ltd (d) | 809900 | 2086833 |
|  |  | 34491842 |
| TOTAL INFORMATION TECHNOLOGY |  | 76797670 |
| Materials - 11.0% |  |  |
| Containers & Packaging - 1.0% |  |  |
| CCL Industries Inc Class A  | 25900 | 1635588 |
| CCL Industries Inc Class B  | 153568 | 9697842 |
|  |  | 11333430 |
| Metals & Mining - 9.5% |  |  |
| Agnico Eagle Mines Ltd/CA  | 162137 | 30488942 |
| Franco-Nevada Corp  | 237655 | 54828523 |
| G Mining Ventures Corp (c) | 102068 | 3537646 |
| G2 Goldfields Inc (c) | 32000 | 244767 |
| Hemlo Mining Corp (c) | 2704700 | 10453620 |
| Lumina Metals Corp  | 154900 | 1425443 |
| Minera Alamos Inc (c) | 407362 | 1814363 |
| Minera Alamos Inc warrants (c) | 281600 | 340445 |
| Triple Flag Precious Metals Corp  | 176825 | 5644445 |
|  |  | 108778194 |
| Paper & Forest Products - 0.5% |  |  |
| Stella-Jones Inc  | 89819 | 5558350 |
| TOTAL MATERIALS |  | 125669974 |
| TOTAL CANADA |  | 1032100557 |
| CHILE - 1.3%  |  |  |
| Materials - 1.3% |  |  |
| Metals & Mining - 1.3% |  |  |
| Lundin Mining Corp  | 571407 | 14664297 |
| UNITED STATES - 3.3%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Leisure Products - 0.6% |  |  |
| BRP Inc Subordinate Voting Shares  | 132299 | 7403134 |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Sunococorp LLC  | 26877 | 1792158 |
| Industrials - 2.5% |  |  |
| Commercial Services & Supplies - 2.5% |  |  |
| GFL Environmental Inc Subordinate Voting Shares  | 701497 | 28145608 |
| TOTAL UNITED STATES |  | 37340900 |
| ZAMBIA - 0.9%  |  |  |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| First Quantum Minerals Ltd (c) | 431711 | 10570698 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $492,487,209) |  | <br> **1134493724** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.2%  |  |  |
| Information Technology - 0.2% |  |  |
| Software - 0.2% |  |  |
| Valsoft Corp Series A-1.2 (c)(e)(f) | 126 | 1122928 |
| Valsoft Corp Series A-1.3 (c)(e)(f) | 45 | 401046 |
| Valsoft Corp Series A-1.4 (c)(e)(f) | 58 | 516904 |
| TOTAL CANADA |  | 2040878 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $2,686,002) |  | <br> **2040878** |

---

---

| | | |
|:---|:---|:---|
| &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)(e)(f) | 2063 | 8644 |
| ApplyBoard Inc Series A2 (c)(e)(f) | 1615 | 6783 |
| ApplyBoard Inc Series A3 (c)(e)(f) | 92 | 387 |
| ApplyBoard Inc Series D (c)(e)(f) | 4504 | 40131 |
| ApplyBoard Inc Series SEED (c)(e)(f) | 617 | 2567 |
| TOTAL CANADA |  | 58512 |
| <br> **TOTAL NON-CONVERTIBLE PREFERRED STOCKS**<br> (Cost $770,130) |  | <br> **58512** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 3.69 | 2038330 | 2038738 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 1695398 | 1695568 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $3,734,306) |  |  | **3734306** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.6%**<br> (Cost $499,677,647)<br>| <br>**1140327420** |
| **NET OTHER ASSETS (LIABILITIES) - 0.4%**  | **4599833** |
| **NET ASSETS - 100.0%** | **1144927253** |

---

**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 $4,369,849 or 0.4% 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 $4,369,849 or 0.4% of net assets.

(c) Non-income producing.

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

(e) 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 $2,108,067 or 0.2% of net assets.

(f) Level 3 security.

(g) 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.

(h) 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 | 85688 |
| ApplyBoard Inc non-voting shares | 6/30/2021 | 44289 |
| ApplyBoard Inc Series A1 | 6/4/2021 | 133582 |
| ApplyBoard Inc Series A2 | 6/4/2021 | 104573 |
| ApplyBoard Inc Series A3 | 6/4/2021 | 5957 |
| ApplyBoard Inc Series D | 6/4/2021 | 486066 |
| ApplyBoard Inc Series SEED | 6/4/2021 | 39952 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 1475928 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 446709 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 763365 |

---

**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 | 577285 | 34951877 | 33490501 | 21611 | 77 | - | 2038738 | 2038330 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 13443383 | 11620637 | 23369124 | 41749 | 672 | - | 1695568 | 1695398 | 0.0% |
| Total | 14020668 | 46572514 | 56859625 | 63360 | 749 | - | 3734306 |  |  |

---

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 | 13018401 | 13018401 | - | - |
| Consumer Discretionary | 90409439 | 90409439 | - | - |
| Consumer Staples | 82554034 | 82554034 | - | - |
| Energy | 223146851 | 223146851 | - | - |
| Financials | 319351438 | 319351438 | - | - |
| Industrials | 138493650 | 138493650 | - | - |
| Information Technology | 76797670 | 76788992 | - | 8678 |
| Materials | 190722241 | 190381796 | 340445 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 2040878 | - | - | 2040878 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 58512 | - | - | 58512 |
|  **Money Market Funds** | 3734306 | 3734306 | - | - |
| **Total Investments in Securities:** | 1140327420 | 1137878907 | 340445 | 2108068 |

---

**Fidelity® Canada 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 $1,613,766) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $495,943,341) | $1136593114 |  |
| Fidelity Central Funds (cost $3,734,306) | 3734306 |  |
| Total Investment in Securities (cost $499,677,647) |  | $1140327420 |
| Foreign currency held at value (cost $8,779,651) |  | 8863111 |
| Receivable for investments sold |  | 1030536 |
| Receivable for fund shares sold |  | 1966027 |
| Dividends receivable |  | 905016 |
| Distributions receivable from Fidelity Central Funds |  | 11891 |
| Prepaid expenses |  | 275 |
| **Total assets** |  | 1153104276 |
| **Liabilities** |  |  |
| Payable to custodian bank  | $396 |  |
| Payable for investments purchased  | 4861025 |  |
| Payable for fund shares redeemed | 982047 |  |
| Accrued management fee | 595343 |  |
| Distribution and service plan fees payable | 10697 |  |
| Other payables and accrued expenses | 36194 |  |
| Collateral on securities loaned | 1691321 |  |
| **Total liabilities** |  | 8177023 |
| **Net Assets**  |  | $1144927253 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $457203967 |
| Total accumulated earnings (loss) |  | 687723286 |
| **Net Assets** |  | $1144927253 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($34,802,351 ÷ 418,317 shares)(a) |  | $83.20 |
| Maximum offering price per share (100/94.25 of $83.20) |  | $88.28 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($7,201,644 ÷ 86,953 shares)(a) |  | $82.82 |
| Maximum offering price per share (100/96.50 of $82.82) |  | $85.82 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($637,685 ÷ 7,745 shares)(a) |  | $82.34 |
| **Canada :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,085,111,284 ÷ 12,981,342 shares) |  | $83.59 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($8,236,041 ÷ 97,696 shares) |  | $84.30 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($8,938,248 ÷ 107,571 shares) |  | $83.09 |
| *(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  |  | $10036735 |
| Interest  |  | 72144 |
| Income from Fidelity Central Funds (including $41,749 from security lending)  |  | 63360 |
| Income before foreign taxes withheld |  | $10172239 |
| Less foreign taxes withheld |  | (1579546) |
| **Total income** |  | 8592693 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $4424849 |  |
| Performance adjustment | (950752) |  |
| Distribution and service plan fees | 62677 |  |
| Custodian fees and expenses | 14790 |  |
| Independent trustees' fees and expenses | 1698 |  |
| Registration fees | 67895 |  |
| Audit fees | 30713 |  |
| Legal | 571 |  |
| Interest | 2443 |  |
| Miscellaneous | 1520 |  |
| **Total expenses** |  | 3656404 |
| **Net Investment income (loss)** |  | 4936289 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 48022542 |  |
| Fidelity Central Funds | 749 |  |
| Foreign currency transactions | 459362 |  |
| Written options | 102109 |  |
| Total net realized gain (loss) |  | 48584762 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 91808586 |  |
| Assets and liabilities in foreign currencies | 75280 |  |
| Written options | 482540 |  |
| Total change in net unrealized appreciation (depreciation) |  | 92366406 |
| **Net gain (loss)** |  | 140951168 |
| **Net increase (decrease) in net assets resulting from operations** |  | $145887457 |

---

---

| | | |
|:---|:---|:---|
| **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) | $4936289 | $10156392 |
| &nbsp;&nbsp;Net realized gain (loss) | 48584762<br>| 56003808<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 92366406 | 82206467<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 145887457<br>| 148366667<br>|
| Distributions to shareholders | (59702550)<br>| (64898988)<br>|
| Share transactions - net increase (decrease) | 3870248<br>| 28927501<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 90055155<br>| 112395180<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1054872098 | 942476918<br>|
| &nbsp;&nbsp;End of period | $1144927253 | $1054872098 |

---

**Financial Highlights** 

**Fidelity Advisor® Canada 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  | $76.95 | $70.62 | $57.80 | $59.44 | $67.23 | $46.01 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .24  | .55  | .47  | .57  | .63  | .55  |
| Net realized and unrealized gain (loss)  | 10.22  | 10.46  | 14.32  | (.01)  | (5.30)  | 21.89  |
| Total from investment operations  | 10.46  | 11.01  | 14.79  | .56  | (4.67)  | 22.44  |
| Distributions from net investment income  | (.39)  | (.70)  | (.65)  | (.68)  | (.61)  | (.63)  |
| Distributions from net realized gain  | (3.82)  | (3.98)  | (1.31)  | (1.52)  | (2.51)  | (.59)  |
| Total distributions  | (4.21)  | (4.68)  | (1.97) C | (2.20)  | (3.12)  | (1.22)  |
| Net asset value, end of period  | $83.20 | $76.95 | $70.62 | $57.80 | $59.44 | $67.23 |
| **Total Return** D,E,F | 14.01% <br>| 16.48%  | 26.11%  | .88%  | (7.06)%  | 49.45%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .95% I | 1.13%  | 1.34%  | 1.36%  | 1.20%  | 1.12%  |
| Expenses net of fee waivers, if any  | .95% I<br>| 1.13%  | 1.33%  | 1.36%  | 1.20%  | 1.12%  |
| Expenses net of all reductions, if any  | .95% I | 1.13%  | 1.33%  | 1.35%  | 1.20%  | 1.12%  |
| Net investment income (loss)  | .61% I | .76%  | .70%  | .94%  | 1.00%  | .92%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $34802 | $32314 | $31401 | $28548 | $31707 | $33087 |
| Portfolio turnover rate J | 19% I<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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*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*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® Canada 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  | $76.49 | $70.23 | $57.49 | $59.09 | $66.84 | $45.74 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .14  | .36  | .30  | .41  | .45  | .38  |
| Net realized and unrealized gain (loss)  | 10.17  | 10.40  | 14.25  | - C | (5.26)  | 21.78  |
| Total from investment operations  | 10.31  | 10.76  | 14.55  | .41  | (4.81)  | 22.16  |
| Distributions from net investment income  | (.16)  | (.53)  | (.50)  | (.49)  | (.42)  | (.47)  |
| Distributions from net realized gain  | (3.82)  | (3.98)  | (1.31)  | (1.52)  | (2.51)  | (.59)  |
| Total distributions  | (3.98)  | (4.50) D | (1.81)  | (2.01)  | (2.94) D | (1.06)  |
| Net asset value, end of period  | $82.82 | $76.49 | $70.23 | $57.49 | $59.09 | $66.84 |
| **Total Return** E,F,G | 13.86% <br>| 16.18%  | 25.80%  | .62%  | (7.32)%  | 49.04%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.20% J | 1.38%  | 1.59%  | 1.63%  | 1.48%  | 1.40%  |
| Expenses net of fee waivers, if any  | 1.20% J<br>| 1.38%  | 1.58%  | 1.63%  | 1.48%  | 1.39%  |
| Expenses net of all reductions, if any  | 1.20% J | 1.38%  | 1.58%  | 1.62%  | 1.48%  | 1.39%  |
| Net investment income (loss)  | .36% J | .51%  | .45%  | .68%  | .72%  | .64%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7202 | $6608 | $6946 | $6255 | $6641 | $7829 |
| Portfolio turnover rate K | 19% J<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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

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

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*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® Canada 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  | $75.92 | $69.57 | $56.91 | $58.39 | $65.76 | $44.96 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.05)  | - C | (.03)  | .10  | .14  | .08  |
| Net realized and unrealized gain (loss)  | 10.09  | 10.35  | 14.15  | - C | (5.19)  | 21.46  |
| Total from investment operations  | 10.04  | 10.35  | 14.12  | .10  | (5.05)  | 21.54  |
| Distributions from net investment income  | -  | (.02)  | (.15)  | (.05)  | -  | (.15)  |
| Distributions from net realized gain  | (3.62)  | (3.98)  | (1.31)  | (1.52)  | (2.32)  | (.59)  |
| Total distributions  | (3.62)  | (4.00)  | (1.46)  | (1.58) D | (2.32)  | (.74)  |
| Net asset value, end of period  | $82.34 | $75.92 | $69.57 | $56.91 | $58.39 | $65.76 |
| **Total Return** E,F,G | 13.57% <br>| 15.61%  | 25.19%  | .10%  | (7.79)%  | 48.31%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.70% J | 1.89%  | 2.09%  | 2.14%  | 1.99%  | 1.90%  |
| Expenses net of fee waivers, if any  | 1.70% J<br>| 1.89%  | 2.09%  | 2.13%  | 1.98%  | 1.90%  |
| Expenses net of all reductions, if any  | 1.70% J | 1.89%  | 2.09%  | 2.13%  | 1.98%  | 1.90%  |
| Net investment income (loss)  | (.14)% J | -% K | (.05)%  | .16%  | .22%  | .14%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $638 | $521 | $759 | $844 | $1109 | $1683 |
| Portfolio turnover rate L | 19% J<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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

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*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*Amount represents less than .005%.*

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® 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  | $77.41 | $71.03 | $58.14 | $59.79 | $67.62 | $46.26 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .36  | .76  | .66  | .77  | .83  | .74  |
| Net realized and unrealized gain (loss)  | 10.27  | 10.51  | 14.40  | (.03)  | (5.33)  | 21.99  |
| Total from investment operations  | 10.63  | 11.27  | 15.06  | .74  | (4.50)  | 22.73  |
| Distributions from net investment income  | (.63)  | (.91)  | (.86)  | (.87)  | (.82)  | (.78)  |
| Distributions from net realized gain  | (3.82)  | (3.98)  | (1.31)  | (1.52)  | (2.51)  | (.59)  |
| Total distributions  | (4.45)  | (4.89)  | (2.17)  | (2.39)  | (3.33)  | (1.37)  |
| Net asset value, end of period  | $83.59 | $77.41 | $71.03 | $58.14 | $59.79 | $67.62 |
| **Total Return** C,D | 14.18% <br>| 16.82%  | 26.49%  | 1.18%  | (6.77)%  | 49.91%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .65% G | .84%  | 1.05%  | 1.05%  | .89%  | .80%  |
| Expenses net of fee waivers, if any  | .65% G<br>| .84%  | 1.04%  | 1.04%  | .88%  | .80%  |
| Expenses net of all reductions, if any  | .65% G | .84%  | 1.04%  | 1.04%  | .88%  | .80%  |
| Net investment income (loss)  | .91% G | 1.05%  | .99%  | 1.25%  | 1.32%  | 1.24%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1085111 | $1000022 | $877615 | $774062 | $825488 | $821617 |
| Portfolio turnover rate H | 19% G<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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® Canada 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  | $77.27 | $71.09 | $58.19 | $59.84 | $67.70 | $46.24 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .35  | .73  | .67  | .78  | .85  | .78  |
| Net realized and unrealized gain (loss)  | 10.30  | 10.52  | 14.40  | (.03)  | (5.34)  | 22.00  |
| Total from investment operations  | 10.65  | 11.25  | 15.07  | .75  | (4.49)  | 22.78  |
| Distributions from net investment income  | -  | (1.09)  | (.86)  | (.88)  | (.86)  | (.73)  |
| Distributions from net realized gain  | (3.62)  | (3.98)  | (1.31)  | (1.52)  | (2.51)  | (.59)  |
| Total distributions  | (3.62)  | (5.07)  | (2.17)  | (2.40)  | (3.37)  | (1.32)  |
| Net asset value, end of period  | $84.30 | $77.27 | $71.09 | $58.19 | $59.84 | $67.70 |
| **Total Return** C,D | 14.14% <br>| 16.81%  | 26.49%  | 1.20%  | (6.74)%  | 50.02%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .69% G | .87%  | 1.04%  | 1.03%  | .86%  | .74%  |
| Expenses net of fee waivers, if any  | .69% G<br>| .87%  | 1.04%  | 1.03%  | .86%  | .74%  |
| Expenses net of all reductions, if any  | .69% G | .87%  | 1.04%  | 1.03%  | .86%  | .74%  |
| Net investment income (loss)  | .87% G | 1.02%  | 1.00%  | 1.27%  | 1.34%  | 1.29%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $8236 | $7736 | $19072 | $10571 | $16165 | $13724 |
| Portfolio turnover rate H | 19% G<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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® Canada 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  | $76.99 | $70.84 | $58.01 | $59.55 | $67.38 | $46.11 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .39  | .82  | .75  | .85  | .92  | .82  |
| Net realized and unrealized gain (loss)  | 10.22  | 10.45  | 14.33  | (.03)  | (5.33)  | 21.91  |
| Total from investment operations  | 10.61  | 11.27  | 15.08  | .82  | (4.41)  | 22.73  |
| Distributions from net investment income  | (.68)  | (1.15)  | (.94)  | (.84)  | (.91)  | (.87)  |
| Distributions from net realized gain  | (3.82)  | (3.98)  | (1.31)  | (1.52)  | (2.51)  | (.59)  |
| Total distributions  | (4.51) C | (5.12) C | (2.25)  | (2.36)  | (3.42)  | (1.46)  |
| Net asset value, end of period  | $83.09 | $76.99 | $70.84 | $58.01 | $59.55 | $67.38 |
| **Total Return** D,E | 14.22% <br>| 16.92%  | 26.62%  | 1.33%  | (6.66)%  | 50.13%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .57% H | .75%  | .93%  | .92%  | .75%  | .66%  |
| Expenses net of fee waivers, if any  | .57% H<br>| .75%  | .92%  | .91%  | .75%  | .66%  |
| Expenses net of all reductions, if any  | .57% H | .75%  | .92%  | .91%  | .75%  | .66%  |
| Net investment income (loss)  | .98% H | 1.14%  | 1.11%  | 1.38%  | 1.45%  | 1.38%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $8938 | $7671 | $6683 | $2692 | $5843 | $22010 |
| Portfolio turnover rate I | 19% H<br>| 17%  | 8%  | 9%  | 13%  | 7%  |

---

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.*

**Notes to Financial Statements (Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Canada 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, Canada, 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. 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.

**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) 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** | $656314551 |
| **Gross unrealized depreciation** | <u>(20460876)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$635853675</u> |
| **Tax cost** | <u>$504473745</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.

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| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Canada Fund** | 104273305 | 164121106 |

---

**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.

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| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .89 |
| **Class M** | .89 |
| **Class C** | .89 |
| **Canada** | .86 |
| **Class I** | .84 |
| **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** | .85 |
| **Class M** | .85 |
| **Class C** | .85 |
| **Canada** | .80 |
| **Class I** | .84 |
| **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 Canada Fund** | S&P/TSX Composite Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Canada. 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 ±.20% 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 (.17)%

**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% | 42403 | 1254 |
| **Class M** | .25% | .25% | 17438 | 215 |
| **Class C** | .75% | .25% | <u>2836</u> | <u>578</u> |
|  |  |  | <u>62677</u> | <u>2047</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** | 2688 |
| **Class M** | 167 |
| **Class C**A | <u>8</u> |
|  | <u>2863</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 Canada Fund** | 54 |

---

**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 Canada Fund** | Borrower | 7249000 | 4.04% | 2443 |

---

**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 Canada Fund** | 13052422 | 15549245 | 2737362 |

---

**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 Canada Fund** | 693 |

---

**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 Canada Fund** | 4529 | - | - |

---

**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 Canada Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1750025 | $2052100 |
| Class M | 340759 | 441669 |
| Class C | 24059 | 42554 |
| Canada | 56768290 | 59857564 |
| Class I | 352273 | 1835114 |
| Class Z | <u>467144</u> | <u>669987</u> |
| Total  | <u>$59702550</u> | <u>$64898988</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 Canada Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 8227 | 27071 | $658930 | $2009540 |
| Reinvestment of distributions  | 21576 | 28921 | 1669776 | 1959103 |
| Shares redeemed | <u>(31420)</u> | <u>(80673)</u> | <u>(2525080)</u> | <u>(5669302)</u> |
| Net increase (decrease) | <u>(1617)</u> | <u>(24681)</u> | <u>$(196374)</u> | <u>$(1700659)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 3309 | 1888 | $266228 | $139431 |
| Reinvestment of distributions  | 4389 | 6508 | 338509 | 439149 |
| Shares redeemed | <u>(7138)</u> | <u>(20911)</u> | <u>(569559)</u> | <u>(1493757)</u> |
| Net increase (decrease) | <u>560</u> | <u>(12515)</u> | <u>$35178</u> | <u>$(915177)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 1282 | 1526 | $101836 | $110354 |
| Reinvestment of distributions  | 313 | 633 | 24059 | 42554 |
| Shares redeemed | <u>(717)</u> | <u>(6202)</u> | <u>(56741)</u> | <u>(443060)</u> |
| Net increase (decrease) | <u>878</u> | <u>(4043)</u> | <u>$69154</u> | <u>$(290152)</u> |
| **Canada** |  |  |  |  |
| Shares sold | 710933 | 1901531 | $57329960 | $140398178 |
| Reinvestment of distributions  | 682300 | 822201 | 52994238 | 55884979 |
| Shares redeemed | <u>(1330322)</u> | <u>(2160587)</u> | <u>(106723076)</u> | <u>(156336857)</u> |
| Net increase (decrease) | <u>62911</u> | <u>563145</u> | <u>$3601122</u> | <u>$39946300</u> |
| **Class I** |  |  |  |  |
| Shares sold | 6457 | 354479 | $522784 | $25034263 |
| Reinvestment of distributions  | 4291 | 26645 | 336177 | 1807836 |
| Shares redeemed | <u>(13169)</u> | <u>(549277)</u> | <u>(1050840)</u> | <u>(35672032)</u> |
| Net increase (decrease) | <u>(2421)</u> | <u>(168153)</u> | <u>$(191879)</u> | <u>$(8829933)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 29318 | 113828 | $2315490 | $8170075 |
| Reinvestment of distributions  | 5732 | 9164 | 442487 | 619049 |
| Shares redeemed | <u>(27113)</u> | <u>(117700)</u> | <u>(2204930)</u> | <u>(8072002)</u> |
| Net increase (decrease) | <u>7937</u> | <u>5292</u> | <u>$553047</u> | <u>$717122</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.

**Fidelity® China Region Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.3%** | &nbsp;&nbsp;**Common Stocks - 96.3%** | &nbsp;&nbsp;**Common Stocks - 96.3%** |
|  | Shares | Value ($)<br>|
| CHINA - 43.2%  |  |  |
| Communication Services - 6.5% |  |  |
| Entertainment - 0.2% |  |  |
| Netease Inc  | 257100 | 6018501 |
| Interactive Media & Services - 6.3% |  |  |
| Baidu Inc A Shares (a) | 764000 | 12064336 |
| Tencent Holdings Ltd  | 2387700 | 145010431 |
|  |  | 157074767 |
| TOTAL COMMUNICATION SERVICES |  | 163093268 |
| Consumer Discretionary - 8.2% |  |  |
| Automobile Components - 1.2% |  |  |
| Fuyao Glass Industry Group Co Ltd H Shares (e)(f) | 1858000 | 14154916 |
| Hesai Group ADR (a)(d) | 392100 | 8892828 |
| Ningbo Joyson Electronic Corp H Shares  | 3768000 | 8096268 |
|  |  | 31144012 |
| Automobiles - 1.4% |  |  |
| BYD Co Ltd H Shares  | 2696000 | 35862645 |
| Broadline Retail - 4.4% |  |  |
| Alibaba Group Holding Ltd  | 5505800 | 90741167 |
| PDD Holdings Inc Class A ADR (a) | 202305 | 20206223 |
|  |  | 110947390 |
| Diversified Consumer Services - 0.6% |  |  |
| New Oriental Education & Technology Group Inc ADR  | 178556 | 9765228 |
| TAL Education Group Class A ADR (a) | 430168 | 4783468 |
|  |  | 14548696 |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| Luckin Coffee Inc ADR (a) | 298500 | 10447500 |
| Trip.com Group Ltd ADR (a) | 64536 | 3498497 |
|  |  | 13945997 |
| TOTAL CONSUMER DISCRETIONARY |  | 206448740 |
| Consumer Staples - 0.9% |  |  |
| Beverages - 0.9% |  |  |
| China Resources Beer Holdings Co Ltd  | 3793000 | 13069560 |
| Kweichow Moutai Co Ltd A Shares (China)  | 47545 | 9644708 |
| TOTAL CONSUMER STAPLES |  | 22714268 |
| Financials - 5.1% |  |  |
| Banks - 3.1% |  |  |
| China Construction Bank Corp H Shares  | 47348610 | 53447109 |
| Industrial & Commercial Bank of China Ltd H Shares  | 28035000 | 25258141 |
|  |  | 78705250 |
| Financial Services - 0.3% |  |  |
| Far East Horizon Ltd  | 6706500 | 6428412 |
| Insurance - 1.7% |  |  |
| China Pacific Insurance Group Co Ltd H Shares  | 3953400 | 17258047 |
| PICC Property & Casualty Co Ltd H Shares  | 6992000 | 12630087 |
| Ping An Insurance Group Co of China Ltd H Shares  | 1594000 | 12956196 |
|  |  | 42844330 |
| TOTAL FINANCIALS |  | 127977992 |
| Health Care - 3.6% |  |  |
| Biotechnology - 1.6% |  |  |
| Abbisko Cayman Ltd (a) | 11802000 | 19648712 |
| Innovent Biologics Inc (a)(e)(f) | 838000 | 9785688 |
| Zai Lab Ltd (a)(d) | 4516400 | 9693278 |
|  |  | 39127678 |
| Health Care Equipment & Supplies - 1.0% |  |  |
| Shanghai Conant Optical Co Ltd H Shares  | 4368200 | 26305352 |
| Life Sciences Tools & Services - 1.0% |  |  |
| Wuxi Apptec Co Ltd H Shares (e)(f) | 1472500 | 25868755 |
| TOTAL HEALTH CARE |  | 91301785 |
| Industrials - 6.0% |  |  |
| Construction & Engineering - 0.4% |  |  |
| China Conch Venture Holdings Ltd  | 5804500 | 9000161 |
| Electrical Equipment - 2.5% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 527700 | 33901036 |
| Jiangsu Zhongtian Technology Co Ltd A Shares (China)  | 3054700 | 14917439 |
| Sieyuan Electric Co Ltd A Shares (China)  | 480700 | 13777016 |
| Sigenergy Technology Co Ltd H Shares  | 8900 | 651572 |
|  |  | 63247063 |
| Machinery - 3.1% |  |  |
| Airtac International Group  | 354000 | 16580826 |
| Huaming Power Equipment Co Ltd A Shares (China)  | 1801400 | 6490359 |
| Sany Heavy Equipment International Holdings Co Ltd  | 13691000 | 18924895 |
| Shenzhen Han's CNC Technology Co Ltd H Shares  | 394500 | 7108898 |
| Weichai Power Co Ltd H Shares  | 3754000 | 18660713 |
| Zhejiang Sanhua Intelligent Controls Co Ltd H Shares (d) | 2635300 | 11349416 |
|  |  | 79115107 |
| TOTAL INDUSTRIALS |  | 151362331 |
| Information Technology - 7.9% |  |  |
| Communications Equipment - 0.9% |  |  |
| Hengtong Optic-electric Co Ltd A Shares (China)  | 2366400 | 22952831 |
| Electronic Equipment, Instruments & Components - 1.1% |  |  |
| Shengyi Technology Co Ltd A Shares (China)  | 673600 | 7642106 |
| Shenzhen Newway Photomask Making Co Ltd A Shares (China)  | 591800 | 5680967 |
| Victory Giant Technology Huizhou Co Ltd A Shares (China)  | 284000 | 13890142 |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 11400 | 467668 |
|  |  | 27680883 |
| Semiconductors & Semiconductor Equipment - 5.5% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 580291 | 32262847 |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 666281 | 24593217 |
| Montage Technology Co Ltd A Shares (China)  | 1509921 | 38806163 |
| NAURA Technology Group Co Ltd A Shares (China)  | 233605 | 18495944 |
| Piotech Inc A Shares (China)  | 196600 | 12900797 |
| Shanghai Fudan Microelectronics Group Co Ltd H Shares  | 2540000 | 12694172 |
|  |  | 139753140 |
| Software - 0.4% |  |  |
| Pony AI Inc ADR (a) | 534500 | 5275515 |
| Shanghai Xizhi Technology Co Ltd H Shares  | 34200 | 3575593 |
|  |  | 8851108 |
| TOTAL INFORMATION TECHNOLOGY |  | 199237962 |
| Materials - 4.6% |  |  |
| Metals & Mining - 4.6% |  |  |
| Aluminum Corp of China Ltd H Shares (d) | 8724000 | 12776799 |
| Chuangxin Industries Holdings Ltd H Shares  | 4144500 | 12043966 |
| JCHX Mining Management Co Ltd A Shares (China)  | 1001426 | 9237041 |
| MMG Ltd (a) | 22204000 | 23955586 |
| Zijin Mining Group Co Ltd H Shares  | 12460000 | 57864262 |
| TOTAL MATERIALS |  | 115877654 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| China Resources Mixc Lifestyle Services Ltd (e)(f) | 1663000 | 10043831 |
| TOTAL CHINA |  | 1088057831 |
| FRANCE - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 7000 | 3708499 |
| HONG KONG - 4.1%  |  |  |
| Communication Services - 0.3% |  |  |
| Diversified Telecommunication Services - 0.3% |  |  |
| HKT Trust & HKT Ltd unit  | 4316000 | 7001203 |
| Financials - 3.4% |  |  |
| Capital Markets - 1.4% |  |  |
| Futu Holdings Ltd Class A ADR  | 198841 | 30722923 |
| Hong Kong Exchanges & Clearing Ltd  | 120300 | 6407509 |
|  |  | 37130432 |
| Insurance - 2.0% |  |  |
| AIA Group Ltd  | 4531200 | 49747002 |
| TOTAL FINANCIALS |  | 86877434 |
| Materials - 0.4% |  |  |
| Metals & Mining - 0.4% |  |  |
| Zijin Gold International Co Ltd  | 537613 | 10619757 |
| TOTAL HONG KONG |  | 104498394 |
| SOUTH AFRICA - 1.4%  |  |  |
| Consumer Discretionary - 1.4% |  |  |
| Broadline Retail - 1.4% |  |  |
| Naspers Ltd Class N  | 649800 | 35186621 |
| TAIWAN - 44.9%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| E.Sun Financial Holding Co Ltd  | 6829799 | 6913303 |
| Industrials - 2.3% |  |  |
| Electrical Equipment - 2.3% |  |  |
| Bizlink Holding Inc  | 644000 | 58010796 |
| Information Technology - 42.3% |  |  |
| Communications Equipment - 0.2% |  |  |
| FOCI Fiber Optic Communications Inc (a) | 244000 | 6096650 |
| Electronic Equipment, Instruments & Components - 11.2% |  |  |
| Chroma ATE Inc  | 706000 | 48394724 |
| Delta Electronics Inc  | 1202000 | 84559024 |
| Elite Material Co Ltd  | 430000 | 64275870 |
| Genius Electronic Optical Co Ltd  | 392000 | 6388651 |
| Unimicron Technology Corp  | 1637445 | 46656909 |
| Universal Microwave Technology Inc  | 271000 | 13526280 |
| Yageo Corp  | 1907000 | 19505055 |
|  |  | 283306513 |
| Semiconductors & Semiconductor Equipment - 30.9% |  |  |
| ASE Technology Holding Co Ltd  | 2493000 | 39201263 |
| eMemory Technology Inc  | 381481 | 48465550 |
| Jentech Precision Industrial Co Ltd  | 146000 | 25498901 |
| MediaTek Inc  | 867000 | 72608895 |
| MPI Corp  | 41000 | 6604063 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 8384000 | 583884972 |
|  |  | 776263644 |
| TOTAL INFORMATION TECHNOLOGY |  | 1065666807 |
| TOTAL TAIWAN |  | 1130590906 |
| UNITED STATES - 2.6%  |  |  |
| Health Care - 0.6% |  |  |
| Biotechnology - 0.6% |  |  |
| Legend Biotech Corp ADR (a) | 653039 | 15359477 |
| Industrials - 0.2% |  |  |
| Aerospace & Defense - 0.2% |  |  |
| Space Exploration Technologies Corp (a)(b)(c) | 10000 | 5265900 |
| Information Technology - 1.8% |  |  |
| Semiconductors & Semiconductor Equipment - 0.4% |  |  |
| ACM Research Inc Class A (a) | 206726 | 10685667 |
| Technology Hardware, Storage & Peripherals - 1.4% |  |  |
| Seagate Technology Holdings PLC  | 50600 | 34086184 |
| TOTAL INFORMATION TECHNOLOGY |  | 44771851 |
| TOTAL UNITED STATES |  | 65397228 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,153,358,710) |  | <br> **2427439479** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.5%  |  |  |
| Communication Services - 0.5% |  |  |
| Interactive Media & Services - 0.5% |  |  |
| Bytedance Ltd Series E1 (a)(b)(c) | 38752 | 11683728 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(c) | 238944 | 1655881 |
| TOTAL CHINA |  | 13339609 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $7,639,976) |  | <br> **13339609** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.5%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.5%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 1.5%** |
|  | Shares | Value ($)<br>|
| KOREA (SOUTH) - 1.5%  |  |  |
| Information Technology - 1.5% |  |  |
| Technology Hardware, Storage & Peripherals - 1.5% |  |  |
| Samsung Electronics Co Ltd non-voting shares <br>(Cost $12,602,527)<br>| 341430 | **37088435** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 (g) | 3.69 | 53169403 | 53180038 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 20591162 | 20593221 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $73,773,259) |  |  | **73773259** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.2%**<br> (Cost $1,247,374,472)<br>| <br>**2551640782** |
| **NET OTHER ASSETS (LIABILITIES) - (1.2)%**  | **(30889553)** |
| **NET ASSETS - 100.0%** | **2520751229** |

---

**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 $18,605,509 or 0.7% of net assets.

(c) Level 3 security.

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

(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 $59,853,190 or 2.4% of net assets.

(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 $59,853,190 or 2.4% of net assets.

(g) 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.

(h) 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 | 4246219 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 3393757 |
| Space Exploration Technologies Corp | 2/16/2021 | 419990 |

---

**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 | 34066955 | 291858393 | 272744396 | 461203 | (914) | - | 53180038 | 53169403 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 11460100 | 93898259 | 84764994 | 161558 | (144) | - | 20593221 | 20591162 | 0.1% |
| Total | 45527055 | 385756652 | 357509390 | 622761 | (1058) | - | 73773259 |  |  |

---

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 | 170094471 | - | 170094471 | - |
| Consumer Discretionary | 245343860 | 61302243 | 184041617 | - |
| Consumer Staples | 22714268 | - | 22714268 | - |
| Financials | 221768729 | 30722923 | 191045806 | - |
| Health Care | 106661262 | 15359477 | 91301785 | - |
| Industrials | 214639027 | - | 209373127 | 5265900 |
| Information Technology | 1309676620 | 50047366 | 1259629254 | - |
| Materials | 126497411 | - | 126497411 | - |
| Real Estate | 10043831 | - | 10043831 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 11683728 | - | - | 11683728 |
| Health Care | 1655881 | - | - | 1655881 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 37088435 | - | 37088435 | - |
|  **Money Market Funds** | 73773259 | 73773259 | - | - |
| **Total Investments in Securities:** | 2551640782 | 231205268 | 2301830005 | 18605509 |

---

**Fidelity® China Region 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 $20,186,372) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,173,601,213) | $2477867523 |  |
| Fidelity Central Funds (cost $73,773,259) | 73773259 |  |
| Total Investment in Securities (cost $1,247,374,472) |  | $2551640782 |
| Foreign currency held at value (cost $24,224) |  | 24225 |
| Receivable for fund shares sold |  | 5800356 |
| Dividends receivable |  | 489344 |
| Distributions receivable from Fidelity Central Funds |  | 184057 |
| Prepaid expenses |  | 345 |
| Other receivables |  | 14847 |
| **Total assets** |  | 2558153956 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $13417773 |  |
| Payable for fund shares redeemed | 1673599 |  |
| Accrued management fee | 1615907 |  |
| Distribution and service plan fees payable | 21799 |  |
| Other payables and accrued expenses | 80284 |  |
| Collateral on securities loaned | 20593365 |  |
| **Total liabilities** |  | 37402727 |
| **Net Assets**  |  | $2520751229 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1441790125 |
| Total accumulated earnings (loss) |  | 1078961104 |
| **Net Assets** |  | $2520751229 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($53,847,818 ÷ 779,245 shares)(a) |  | $69.10 |
| Maximum offering price per share (100/94.25 of $69.10) |  | $73.32 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($14,673,043 ÷ 214,071 shares)(a) |  | $68.54 |
| Maximum offering price per share (100/96.50 of $68.54) |  | $71.03 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($7,663,922 ÷ 116,559 shares)(a) |  | $65.75 |
| **China Region :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,932,464,958 ÷ 27,527,624 shares) |  | $70.20 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($64,372,571 ÷ 925,005 shares) |  | $69.59 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($447,728,917 ÷ 6,444,541 shares) |  | $69.47 |
| *(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  |  | $8708865 |
| Income from Fidelity Central Funds (including $161,558 from security lending)  |  | 622761 |
| Security lending |  | 37884 |
| Income before foreign taxes withheld |  | $9369510 |
| Less foreign taxes withheld |  | (1139310) |
| **Total income** |  | 8230200 |
| **Expenses** |  |  |
| Management fee | $8447309 |  |
| Distribution and service plan fees | 116321 |  |
| Custodian fees and expenses | 207840 |  |
| Independent trustees' fees and expenses | 2782 |  |
| Registration fees | 128617 |  |
| Audit fees | 38814 |  |
| Legal | 2028 |  |
| Interest | 1402 |  |
| Miscellaneous | 2257 |  |
| Total expenses before reductions | 8947370 |  |
| Expense reductions | (6060) |  |
| Total expenses after reductions |  | 8941310 |
| **Net Investment income (loss)** |  | (711110) |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 51484040 |  |
| Fidelity Central Funds | (1058) |  |
| Foreign currency transactions | (184080) |  |
| Total net realized gain (loss) |  | 51298902 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 465683256 |  |
| Assets and liabilities in foreign currencies | 204 |  |
| Total change in net unrealized appreciation (depreciation) |  | 465683460 |
| **Net gain (loss)** |  | 516982362 |
| **Net increase (decrease) in net assets resulting from operations** |  | $516271252 |

---

---

| | | |
|:---|:---|:---|
| **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) | $(711110) | $10255633 |
| &nbsp;&nbsp;Net realized gain (loss) | 51298902<br>| 405228<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 465683460 | 439675465<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 516271252<br>| 450336326<br>|
| Distributions to shareholders | (31676438)<br>| (15536300)<br>|
| Share transactions - net increase (decrease) | 221096537<br>| 170589787<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 705691351<br>| 605389813<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1815059878 | 1209670065<br>|
| &nbsp;&nbsp;End of period | $2520751229 | $1815059878 |

---

**Financial Highlights** 

**Fidelity Advisor® China Region 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  | $55.30 | $40.04 | $30.63 | $24.85 | $50.32 | $50.90 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.10)  | .24  | .41  | .22  | .14  | .06  |
| Net realized and unrealized gain (loss)  | 14.76  | 15.49  | 9.50  | 5.75 C | (20.99)  | 1.95  |
| Total from investment operations  | 14.66  | 15.73  | 9.91  | 5.97  | (20.85)  | 2.01  |
| Distributions from net investment income  | (.86)  | (.47)  | (.50)  | (.19)  | -  | (.44)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (.86)  | (.47)  | (.50)  | (.19)  | (4.62)  | (2.59) D |
| Net asset value, end of period  | $69.10 | $55.30 | $40.04 | $30.63 | $24.85 | $50.32 |
| **Total Return** E,F,G | 26.99% <br>| 39.77%  | 32.78%  | 23.98% C | (45.20)%  | 3.65%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.18% J | 1.17%  | 1.19%  | 1.25%  | 1.23%  | 1.21%  |
| Expenses net of fee waivers, if any  | 1.18% J<br>| 1.17%  | 1.19%  | 1.25%  | 1.22%  | 1.21%  |
| Expenses net of all reductions, if any  | 1.18% J | 1.17%  | 1.19%  | 1.25%  | 1.22%  | 1.21%  |
| Net investment income (loss)  | (.36)% J | .54%  | 1.18%  | .66%  | .38%  | .11%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $53848 | $38586 | $25856 | $21354 | $19362 | $45301 |
| Portfolio turnover rate K | 37% J<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 23.96%.*

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

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*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® China Region 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  | $54.75 | $39.69 | $30.34 | $24.61 | $50.02 | $50.64 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.18)  | .12  | .32  | .13  | .03  | (.10)  |
| Net realized and unrealized gain (loss)  | 14.65  | 15.36  | 9.43  | 5.69 C | (20.82)  | 1.96  |
| Total from investment operations  | 14.47  | 15.48  | 9.75  | 5.82  | (20.79)  | 1.86  |
| Distributions from net investment income  | (.68)  | (.42)  | (.40)  | (.09)  | -  | (.32)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (.68)  | (.42)  | (.40)  | (.09)  | (4.62)  | (2.48)  |
| Net asset value, end of period  | $68.54 | $54.75 | $39.69 | $30.34 | $24.61 | $50.02 |
| **Total Return** D,E,F | 26.81% <br>| 39.44%  | 32.49%  | 23.64% C | (45.37)%  | 3.36%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.43% I | 1.43%  | 1.44%  | 1.52%  | 1.53%  | 1.50%  |
| Expenses net of fee waivers, if any  | 1.43% I<br>| 1.43%  | 1.44%  | 1.52%  | 1.53%  | 1.50%  |
| Expenses net of all reductions, if any  | 1.43% I | 1.43%  | 1.44%  | 1.51%  | 1.53%  | 1.50%  |
| Net investment income (loss)  | (.61)% I | .29%  | .93%  | .40%  | .08%  | (.18)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $14673 | $11038 | $9322 | $6610 | $5803 | $12623 |
| Portfolio turnover rate J | 37% I<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 23.62%.*

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*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® China Region 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  | $52.44 | $38.03 | $29.03 | $23.59 | $48.34 | $49.10 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.31)  | (.09)  | .14  | (.02)  | (.13)  | (.35)  |
| Net realized and unrealized gain (loss)  | 14.07  | 14.73  | 9.05  | 5.46 C | (20.00)  | 1.92  |
| Total from investment operations  | 13.76  | 14.64  | 9.19  | 5.44  | (20.13)  | 1.57  |
| Distributions from net investment income  | (.45)  | (.23)  | (.19)  | -  | -  | (.17)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (.45)  | (.23)  | (.19)  | -  | (4.62)  | (2.33)  |
| Net asset value, end of period  | $65.75 | $52.44 | $38.03 | $29.03 | $23.59 | $48.34 |
| **Total Return** D,E,F | 26.50% <br>| 38.74%  | 31.82%  | 23.06% C | (45.60)%  | 2.89%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.93% I | 1.92%  | 1.94%  | 1.97%  | 1.96%  | 1.96%  |
| Expenses net of fee waivers, if any  | 1.93% I<br>| 1.92%  | 1.94%  | 1.96%  | 1.96%  | 1.96%  |
| Expenses net of all reductions, if any  | 1.93% I | 1.92%  | 1.94%  | 1.96%  | 1.96%  | 1.96%  |
| Net investment income (loss)  | (1.11)% I | (.21)%  | .43%  | (.05)%  | (.36)%  | (.65)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7664 | $6296 | $4628 | $4834 | $5784 | $13168 |
| Portfolio turnover rate J | 37% I<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 23.04%.*

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*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® China Region 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  | $56.19 | $40.64 | $31.11 | $25.28 | $51.03 | $51.53 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.02)  | .36  | .51  | .32  | .25  | .23  |
| Net realized and unrealized gain (loss)  | 14.98  | 15.73  | 9.64  | 5.85 C | (21.32)  | 1.97  |
| Total from investment operations  | 14.96  | 16.09  | 10.15  | 6.17  | (21.07)  | 2.20  |
| Distributions from net investment income  | (.95)  | (.54)  | (.62)  | (.34)  | (.06)  | (.54)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (.95)  | (.54)  | (.62)  | (.34)  | (4.68)  | (2.70)  |
| Net asset value, end of period  | $70.20 | $56.19 | $40.64 | $31.11 | $25.28 | $51.03 |
| **Total Return** D,E | 27.17% <br>| 40.16%  | 33.15%  | 24.34% C | (45.04)%  | 3.97%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .90% H | .91%  | .92%  | .95%  | .94%  | .91%  |
| Expenses net of fee waivers, if any  | .90% H<br>| .91%  | .92%  | .95%  | .93%  | .91%  |
| Expenses net of all reductions, if any  | .90% H | .91%  | .92%  | .95%  | .93%  | .91%  |
| Net investment income (loss)  | (.08)% H | .81%  | 1.45%  | .96%  | .67%  | .41%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1932465 | $1363897 | $972318 | $809283 | $736185 | $1609326 |
| Portfolio turnover rate I | 37% H<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 24.32%.*

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 Advisor® China Region 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  | $55.76 | $40.34 | $30.87 | $25.07 | $50.63 | $51.16 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.02)  | .36  | .51  | .32  | .25  | .22  |
| Net realized and unrealized gain (loss)  | 14.84  | 15.62  | 9.56  | 5.82 C | (21.15)  | 1.96  |
| Total from investment operations  | 14.82  | 15.98  | 10.07  | 6.14  | (20.90)  | 2.18  |
| Distributions from net investment income  | (.99)  | (.56)  | (.60)  | (.34)  | (.04)  | (.55)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (.99)  | (.56)  | (.60)  | (.34)  | (4.66)  | (2.71)  |
| Net asset value, end of period  | $69.59 | $55.76 | $40.34 | $30.87 | $25.07 | $50.63 |
| **Total Return** D,E | 27.15% <br>| 40.19%  | 33.15%  | 24.40% C | (45.05)%  | 3.96%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .90% H | .89%  | .91%  | .94%  | .93%  | .93%  |
| Expenses net of fee waivers, if any  | .90% H<br>| .89%  | .91%  | .93%  | .93%  | .93%  |
| Expenses net of all reductions, if any  | .90% H | .89%  | .91%  | .93%  | .93%  | .93%  |
| Net investment income (loss)  | (.08)% H | .82%  | 1.46%  | .98%  | .68%  | .39%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $64373 | $47453 | $32635 | $26683 | $20509 | $68464 |
| Portfolio turnover rate I | 37% H<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 24.38%.*

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 Advisor® China Region 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  | $55.75 | $40.34 | $30.90 | $25.02 | $50.57 | $51.07 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .01  | .41  | .57  | .36  | .30  | .29  |
| Net realized and unrealized gain (loss)  | 14.83  | 15.61  | 9.55  | 5.80 C | (21.10)  | 1.95  |
| Total from investment operations  | 14.84  | 16.02  | 10.12  | 6.16  | (20.80)  | 2.24  |
| Distributions from net investment income  | (1.12)  | (.61)  | (.68)  | (.28)  | (.12)  | (.59)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (4.62)  | (2.16)  |
| Total distributions  | (1.12)  | (.61)  | (.68)  | (.28)  | (4.75) D | (2.74) D |
| Net asset value, end of period  | $69.47 | $55.75 | $40.34 | $30.90 | $25.02 | $50.57 |
| **Total Return** E,F | 27.25% <br>| 40.35%  | 33.34%  | 24.55% C | (44.97)%  | 4.09%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .77% I | .77%  | .77%  | .81%  | .80%  | .80%  |
| Expenses net of fee waivers, if any  | .77% I<br>| .77%  | .77%  | .80%  | .80%  | .80%  |
| Expenses net of all reductions, if any  | .77% I | .77%  | .77%  | .80%  | .80%  | .80%  |
| Net investment income (loss)  | .05% I | .95%  | 1.60%  | 1.11%  | .81%  | .52%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $447729 | $347789 | $164912 | $26195 | $3940 | $71573 |
| Portfolio turnover rate J | 37% I<br>| 34%  | 30%  | 24%  | 20%  | 60%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been 24.53%.*

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*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 China Region 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, China Region, 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. 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.

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), certain corporate actions, 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** | $1326589895 |
| **Gross unrealized depreciation** | <u>(46547466)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$1280042429</u> |
| **Tax cost** | <u>$1271598353</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 | $(142447576) |
| Long-term | <u>(94129802)</u> |
| **Total capital loss carryforward** | <u>$(236577378)</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 China Region Fund** | 539840955 | 366836700 |

---

**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.

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| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .89 |
| **Class M** | .89 |
| **Class C** | .89 |
| **China Region** | .87 |
| **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** | .89 |
| **Class M** | .89 |
| **Class C** | .89 |
| **China Region** | .86 |
| **Class I** | .86 |
| **Class Z** | .73 |

---

**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% | 53266 | 1678 |
| **Class M** | .25% | .25% | 30170 | 457 |
| **Class C** | .75% | .25% | <u>32885</u> | <u>7634</u> |
|  |  |  | <u>116321</u> | <u>9769</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** | 8307 |
| **Class M** | 404 |
| **Class C**A | <u>21</u> |
|  | <u>8732</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 China Region Fund** | 5099 |

---

**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:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Borrower or Lender** | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)**  |
| **Fidelity China Region Fund** | Borrower | 3128500 | 4.03% | 1402 |

---

**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 China Region Fund** | 12968673 | 3206710 | 328316 |

---

**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.

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| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity China Region Fund** | 1220 |

---

**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 China Region Fund** | 21159 | - | - |

---

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 China Region Fund** | 1341801 |

---

**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 $6,060.

**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 China Region Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $609120 | $286694 |
| Class M | 140707 | 89302 |
| Class C | 52100 | 26893 |
| China Region | 23078301 | 12329201 |
| Class I | 825715 | 331048 |
| Class Z | <u>6970495</u> | <u>2473162</u> |
| Total | <u>$31676438</u> | <u>$15536300</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 China Region Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 176852 | 259255 | $10470847 | $11857174 |
| Reinvestment of distributions  | 10791 | 6819 | 567193 | 265721 |
| Shares redeemed | <u>(106111)</u> | <u>(214079)</u> | <u>(6027025)</u> | <u>(8881970)</u> |
| Net increase (decrease) | <u>81532</u> | <u>51995</u> | <u>$5011015</u> | <u>$3240925</u> |
| **Class M** |  |  |  |  |
| Shares sold | 20335 | 23078 | $1169432 | $1034606 |
| Reinvestment of distributions  | 2663 | 2209 | 138963 | 85437 |
| Shares redeemed | <u>(10560)</u> | <u>(58520)</u> | <u>(600363)</u> | <u>(2412025)</u> |
| Net increase (decrease) | <u>12438</u> | <u>(33233)</u> | <u>$708032</u> | <u>$(1291982)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 15732 | 28736 | $848788 | $1249452 |
| Reinvestment of distributions  | 1029 | 712 | 51636 | 26488 |
| Shares redeemed | <u>(20271)</u> | <u>(31053)</u> | <u>(1105357)</u> | <u>(1287624)</u> |
| Net increase (decrease) | <u>(3510)</u> | <u>(1605)</u> | <u>$(204933)</u> | <u>$(11684)</u> |
| **China Region** |  |  |  |  |
| Shares sold | 6934832 | 7266867 | $417197825 | $344031574 |
| Reinvestment of distributions  | 403865 | 292451 | 21542152 | 11554738 |
| Shares redeemed | <u>(4082266)</u> | <u>(7210799)</u> | <u>(238873865)</u> | <u>(310025782)</u> |
| Net increase (decrease) | <u>3256431</u> | <u>348519</u> | <u>$199866112</u> | <u>$45560530</u> |
| **Class I** |  |  |  |  |
| Shares sold | 221081 | 657081 | $13053438 | $29063447 |
| Reinvestment of distributions  | 13875 | 6972 | 733703 | 273284 |
| Shares redeemed | <u>(161050)</u> | <u>(621909)</u> | <u>(9259367)</u> | <u>(26214074)</u> |
| Net increase (decrease) | <u>73906</u> | <u>42144</u> | <u>$4527774</u> | <u>$3122657</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 145601 | 2265389 | $8415304 | $124947794 |
| Reinvestment of distributions  | 131924 | 63077 | 6960295 | 2469454 |
| Shares redeemed | <u>(70888)</u> | <u>(178289)</u> | <u>(4187062)</u> | <u>(7447907)</u> |
| Net increase (decrease) | <u>206637</u> | <u>2150177</u> | <u>$11188537</u> | <u>$119969341</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.

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.

---

| | |
|:---|:---|
|  | **Strategic Advisers Fidelity Emerging Markets Fund** |
| **Fidelity China Region Fund** | 15% |

---

**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.

**Fidelity® Emerging Asia 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>|
| CHINA - 30.3%  |  |  |
| Communication Services - 4.6% |  |  |
| Interactive Media & Services - 4.6% |  |  |
| Tencent Holdings Ltd  | 1467844 | 89145492 |
| Consumer Discretionary - 4.7% |  |  |
| Automobile Components - 0.4% |  |  |
| Hesai Group ADR (b)(f) | 386700 | 8770356 |
| Automobiles - 0.9% |  |  |
| BYD Co Ltd A Shares (China)  | 1151200 | 17478117 |
| Broadline Retail - 2.6% |  |  |
| Alibaba Group Holding Ltd  | 2024068 | 33358693 |
| Alibaba Group Holding Ltd ADR  | 61400 | 8097432 |
| PDD Holdings Inc Class A ADR (b) | 84172 | 8407099 |
|  |  | 49863224 |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Laopu Gold Co Ltd H Shares (f) | 220000 | 15707731 |
| TOTAL CONSUMER DISCRETIONARY |  | 91819428 |
| Consumer Staples - 0.5% |  |  |
| Beverages - 0.5% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 397400 | 11874365 |
| Energy - 1.1% |  |  |
| Oil, Gas & Consumable Fuels - 1.1% |  |  |
| PetroChina Co Ltd H Shares  | 13720000 | 21163297 |
| Financials - 2.5% |  |  |
| Insurance - 2.5% |  |  |
| People's Insurance Co Group of China Ltd/The H Shares  | 19214021 | 13146554 |
| Ping An Insurance Group Co of China Ltd H Shares  | 4369405 | 35514973 |
| TOTAL FINANCIALS |  | 48661527 |
| Health Care - 3.0% |  |  |
| Health Care Equipment & Supplies - 2.1% |  |  |
| AK Medical Holdings Ltd (d)(e) | 16936127 | 13686170 |
| Peijia Medical Ltd (b)(d)(e) | 7599779 | 6044476 |
| Shanghai Conant Optical Co Ltd H Shares  | 969000 | 5835329 |
| Zylox-Tonbridge Medical Technology Co Ltd H Shares (d)(e) | 5132278 | 15121378 |
|  |  | 40687353 |
| Life Sciences Tools & Services - 0.9% |  |  |
| WuXi XDC Cayman Inc (b) | 2239459 | 17004734 |
| TOTAL HEALTH CARE |  | 57692087 |
| Industrials - 6.9% |  |  |
| Air Freight & Logistics - 1.1% |  |  |
| J&T Global Express Ltd B Shares (b) | 17655101 | 22106653 |
| Electrical Equipment - 3.0% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 618900 | 39759999 |
| Hongfa Technology Co Ltd A Shares (China)  | 1962700 | 8993480 |
| Sieyuan Electric Co Ltd A Shares (China)  | 332200 | 9520959 |
|  |  | 58274438 |
| Machinery - 2.8% |  |  |
| Airtac International Group  | 585000 | 27400519 |
| Guangdong Dtech Technology Co Ltd (China)  | 268800 | 9354398 |
| Weichai Power Co Ltd H Shares  | 3547000 | 17631739 |
|  |  | 54386656 |
| TOTAL INDUSTRIALS |  | 134767747 |
| Information Technology - 3.6% |  |  |
| Electronic Equipment, Instruments & Components - 1.5% |  |  |
| Shengyi Technology Co Ltd A Shares (China)  | 906800 | 10287798 |
| WUS Printed Circuit Kunshan Co Ltd A Shares (China)  | 1282800 | 19544107 |
|  |  | 29831905 |
| Semiconductors & Semiconductor Equipment - 2.1% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 461700 | 25669461 |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 381200 | 14070541 |
|  |  | 39740002 |
| TOTAL INFORMATION TECHNOLOGY |  | 69571907 |
| Materials - 3.4% |  |  |
| Chemicals - 0.5% |  |  |
| Sinoma Science & Technology Co Ltd A Shares (China)  | 1206600 | 9820475 |
| Metals & Mining - 2.9% |  |  |
| MMG Ltd (b) | 23336000 | 25176885 |
| Zijin Mining Group Co Ltd A Shares (China)  | 6181600 | 30464680 |
|  |  | 55641565 |
| TOTAL MATERIALS |  | 65462040 |
| TOTAL CHINA |  | 590157890 |
| HONG KONG - 1.6%  |  |  |
| Communication Services - 0.0% |  |  |
| Entertainment - 0.0% |  |  |
| Huanxi Media Group Ltd (b) | 5149015 | 168641 |
| Financials - 1.6% |  |  |
| Insurance - 1.6% |  |  |
| AIA Group Ltd  | 2783092 | 30554926 |
| TOTAL HONG KONG |  | 30723567 |
| INDIA - 7.9%  |  |  |
| Communication Services - 1.1% |  |  |
| Wireless Telecommunication Services - 1.1% |  |  |
| Bharti Airtel Ltd  | 1066500 | 21320099 |
| Consumer Discretionary - 0.0% |  |  |
| Broadline Retail - 0.0% |  |  |
| Meesho (g) | 450976 | 925021 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Coal India Ltd  | 2447000 | 12446019 |
| Financials - 5.1% |  |  |
| Banks - 1.0% |  |  |
| Bank of Maharashtra  | 22999700 | 19107080 |
| Capital Markets - 0.8% |  |  |
| 360 ONE WAM Ltd  | 1452141 | 15889279 |
| Consumer Finance - 1.9% |  |  |
| Bajaj Finance Ltd  | 1974161 | 19609412 |
| Shriram Finance Ltd  | 1623705 | 16149361 |
|  |  | 35758773 |
| Financial Services - 1.4% |  |  |
| Power Finance Corp Ltd  | 5745100 | 27275164 |
| TOTAL FINANCIALS |  | 98030296 |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| National Aluminium Co Ltd  | 5182700 | 21929523 |
| TOTAL INDIA |  | 154650958 |
| INDONESIA - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Bank Rakyat Indonesia Persero Tbk PT  | 76127700 | 13169682 |
| Bank Syariah Indonesia Persero Tbk PT  | 94928541 | 9749256 |
| TOTAL INDONESIA |  | 22918938 |
| KOREA (SOUTH) - 16.7%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Automobiles - 1.6% |  |  |
| Kia Corp  | 300180 | 31159839 |
| Consumer Staples - 1.3% |  |  |
| Personal Care Products - 1.3% |  |  |
| APR Corp/Korea  | 86010 | 24855773 |
| Financials - 1.1% |  |  |
| Insurance - 1.1% |  |  |
| Samsung Life Insurance Co Ltd  | 128230 | 21949267 |
| Industrials - 7.7% |  |  |
| Aerospace & Defense - 1.9% |  |  |
| Hanwha Aerospace Co Ltd  | 22060 | 21325753 |
| Korea Aerospace Industries Ltd  | 131739 | 15189807 |
|  |  | 36515560 |
| Electrical Equipment - 1.8% |  |  |
| LS Electric Co Ltd  | 183100 | 35389341 |
| Industrial Conglomerates - 4.0% |  |  |
| SK Square Co Ltd (b) | 132533 | 77629456 |
| TOTAL INDUSTRIALS |  | 149534357 |
| Information Technology - 4.4% |  |  |
| Semiconductors & Semiconductor Equipment - 2.0% |  |  |
| SK Hynix Inc  | 43288 | 38850677 |
| Technology Hardware, Storage & Peripherals - 2.4% |  |  |
| Samsung Electronics Co Ltd  | 312435 | 47350873 |
| TOTAL INFORMATION TECHNOLOGY |  | 86201550 |
| Materials - 0.6% |  |  |
| Chemicals - 0.6% |  |  |
| Hansol Chemical Co Ltd  | 59040 | 11626625 |
| TOTAL KOREA (SOUTH) |  | 325327411 |
| PHILIPPINES - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Transportation Infrastructure - 1.1% |  |  |
| International Container Terminal Services Inc  | 1761000 | 20457319 |
| SINGAPORE - 3.8%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Broadline Retail - 1.6% |  |  |
| Sea Ltd Class A ADR (b) | 369788 | 31387605 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| Oversea-Chinese Banking Corp Ltd  | 2418200 | 41720265 |
| TOTAL SINGAPORE |  | 73107870 |
| TAIWAN - 30.0%  |  |  |
| Information Technology - 30.0% |  |  |
| Electronic Equipment, Instruments & Components - 7.2% |  |  |
| Chroma ATE Inc  | 205000 | 14052292 |
| Delta Electronics Inc  | 683000 | 48048098 |
| Elite Material Co Ltd  | 218000 | 32586371 |
| Unimicron Technology Corp  | 1150537 | 32783086 |
| Universal Microwave Technology Inc  | 253000 | 12627855 |
|  |  | 140097702 |
| Semiconductors & Semiconductor Equipment - 22.8% |  |  |
| ASE Technology Holding Co Ltd  | 2274000 | 35757590 |
| eMemory Technology Inc  | 148000 | 18802775 |
| LandMark Optoelectronics Corp  | 118000 | 10268248 |
| MediaTek Inc  | 620000 | 51923316 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 4603892 | 320627785 |
| Visual Photonics Epitaxy Co Ltd  | 579000 | 6470928 |
|  |  | 443850642 |
| TOTAL TAIWAN |  | 583948344 |
| UNITED STATES - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| Space Exploration Technologies Corp (a)(b)(c) | 11000 | 5792489 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,198,504,525) |  | <br> **1807084786** |

---

---

| | | |
|:---|:---|:---|
| &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 (a)(b)(c) | 23366 | 7044849 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(c) | 111500 | 772694 |
| TOTAL CHINA |  | 7817543 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $4,143,961) |  | <br> **7817543** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.1%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.1%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.1%** |
|  | Shares | Value ($)<br>|
| KOREA (SOUTH) - 4.1%  |  |  |
| Information Technology - 4.1% |  |  |
| Technology Hardware, Storage & Peripherals - 4.1% |  |  |
| Samsung Electronics Co Ltd non-voting shares <br>(Cost $36,663,449)<br>| 731972 | **79511748** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 20211429 | 20215471 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 15465420 | 15466967 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $35,682,438) |  |  | **35682438** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.2%**<br> (Cost $1,274,994,373)<br>| <br>**1930096515** |
| **NET OTHER ASSETS (LIABILITIES) - 0.8%**  | **15627066** |
| **NET ASSETS - 100.0%** | **1945723581** |

---

**Legend**

(a) 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 $13,610,032 or 0.7% of net assets.

(b) Non-income producing.

(c) Level 3 security.

(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 $34,852,024 or 1.8% of net assets.

(e) 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 $34,852,024 or 1.8% of net assets.

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

(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 $925,021 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Bytedance Ltd Series E1 | 11/18/2020 | 2560310 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 1583651 |
| Space Exploration Technologies Corp | 2/16/2021 | 461989 |

---

---

| | |
|:---|:---|
| 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 |

---

**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 | 87503144 | 440025020 | 507307338 | 1614635 | (5355) | - | 20215471 | 20211429 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 21426138 | 44764370 | 50723546 | 61134 | 5 | - | 15466967 | 15465420 | 0.0% |
| Total | 108929282 | 484789390 | 558030884 | 1675769 | (5350) | - | 35682438 |  |  |

---

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 | 110634232 | - | 110634232 | - |
| Consumer Discretionary | 155291893 | 56662492 | 98629401 | - |
| Consumer Staples | 36730138 | - | 36730138 | - |
| Energy | 33609316 | - | 33609316 | - |
| Financials | 263835219 | - | 263835219 | - |
| Health Care | 57692087 | - | 57692087 | - |
| Industrials | 310551912 | - | 304759423 | 5792489 |
| Information Technology | 739721801 | - | 739721801 | - |
| Materials | 99018188 | - | 99018188 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 7044849 | - | - | 7044849 |
| Health Care | 772694 | - | - | 772694 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 79511748 | - | 79511748 | - |
|  **Money Market Funds** | 35682438 | 35682438 | - | - |
| **Total Investments in Securities:** | 1930096515 | 92344930 | 1824141553 | 13610032 |

---

**Fidelity® Emerging Asia 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 $19,983,709) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,239,311,935) | $1894414077 |  |
| Fidelity Central Funds (cost $35,682,438) | 35682438 |  |
| Total Investment in Securities (cost $1,274,994,373) |  | $1930096515 |
| Foreign currency held at value (cost $62,117) |  | 62117 |
| Receivable for investments sold |  | 37389913 |
| Receivable for fund shares sold |  | 1494728 |
| Dividends receivable |  | 2173204 |
| Distributions receivable from Fidelity Central Funds |  | 168067 |
| Prepaid expenses |  | 317 |
| Other receivables |  | 1241648 |
| **Total assets** |  | 1972626509 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $6055020 |  |
| Payable for fund shares redeemed | 958376 |  |
| Accrued management fee | 1496142 |  |
| Deferred taxes | 2862291 |  |
| Other payables and accrued expenses | 64137 |  |
| Collateral on securities loaned | 15466962 |  |
| **Total liabilities** |  | 26902928 |
| **Net Assets**  |  | $1945723581 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1255766523 |
| Total accumulated earnings (loss) |  | 689957058 |
| **Net Assets** |  | $1945723581 |
| **Net Asset Value**, offering price and redemption price per share ($1,945,723,581 ÷ 24,037,076 shares) |  | $80.95 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $9659404 |
| Income from Fidelity Central Funds (including $61,134 from security lending)  |  | 1675769 |
| Security lending |  | 23585 |
| Income before foreign taxes withheld |  | $11358758 |
| Less foreign taxes withheld |  | (1524237) |
| **Total income** |  | 9834521 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $7108401 |  |
| Performance adjustment | 1062235 |  |
| Custodian fees and expenses | 141595 |  |
| Independent trustees' fees and expenses | 2347 |  |
| Registration fees | 53110 |  |
| Audit fees | 56823 |  |
| Legal | 1880 |  |
| Miscellaneous | 2121 |  |
| Total expenses before reductions | 8428512 |  |
| Expense reductions | (1772) |  |
| Total expenses after reductions |  | 8426740 |
| **Net Investment income (loss)** |  | 1407781 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $4,003,406)  | 120381187 |  |
| Fidelity Central Funds | (5350) |  |
| Foreign currency transactions | (909566) |  |
| Total net realized gain (loss) |  | 119466271 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $5,846,687)  | 208034589 |  |
| Assets and liabilities in foreign currencies | 1103 |  |
| Total change in net unrealized appreciation (depreciation) |  | 208035692 |
| **Net gain (loss)** |  | 327501963 |
| **Net increase (decrease) in net assets resulting from operations** |  | $328909744 |

---

---

| | | |
|:---|:---|:---|
| **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) | $1407781 | $248585 |
| &nbsp;&nbsp;Net realized gain (loss) | 119466271<br>| 195407978<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 208035692 | 163056552<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 328909744<br>| 358713115<br>|
| Distributions to shareholders | (3203124)<br>| -<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 319699030 | 294916917 |
| Reinvestment of distributions | 2883076<br>| -<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (179997640) | (201749186) |
| **Net increase (decrease) in net assets resulting from share transactions** | 142584466<br>| 93167731<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 468291086<br>| 451880846<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1477432495 | 1025551649<br>|
| &nbsp;&nbsp;End of period | $1945723581 | $1477432495 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 4563558 | 5098750 |
| Issued in reinvestment of distributions | 44887<br>| -<br>|
| &nbsp;&nbsp;Redeemed | (2584305) | (3728673) |
| &nbsp;&nbsp;Net increase (decrease) | 2024140 | 1370077 |

---

**Financial Highlights** 

**Fidelity® Emerging Asia 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  | $67.12 | $49.68 | $35.97 | $30.23 | $64.66 | $63.60 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .01  | .24  | .05  | (.22)  | (.31) C |
| Net realized and unrealized gain (loss)  | 13.91  | 17.43  | 13.50  | 5.69  | (26.97)  | 11.00  |
| Total from investment operations  | 13.97  | 17.44  | 13.74  | 5.74  | (27.19)  | 10.69  |
| Distributions from net investment income  | (.14)  | -  | (.02)  | -  | (.09)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (7.15)  | (9.63)  |
| Distributions from tax return of capital  | - | - | (.01) | - | - | - |
| Total distributions  | (.14)  | -  | (.03)  | -  | (7.24)  | (9.63)  |
| Net asset value, end of period  | $80.95 | $67.12 | $49.68 | $35.97 | $30.23 | $64.66 |
| **Total Return** D,E | 20.87% <br>| 35.10%  | 38.22%  | 18.99%  | (46.77)%  | 17.02%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.03% H | 1.03%  | .66%  | .87%  | 1.18%  | 1.02%  |
| Expenses net of fee waivers, if any  | 1.03% H<br>| 1.03%  | .65%  | .87%  | 1.17%  | 1.02%  |
| Expenses net of all reductions, if any  | 1.03% H | 1.03%  | .65%  | .87%  | 1.17%  | 1.02%  |
| Net investment income (loss)  | .17% H | .02%  | .56%  | .13%  | (.51)%  | (.45)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1945724 | $1477432 | $1025552 | $867653 | $823527 | $2000120 |
| Portfolio turnover rate I | 98% H<br>| 107%  | 57%  | 50%  | 44%  | 85%  |

---

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 $.06 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.54)%.*

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 Emerging Asia Fund (the Fund) is a 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. 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. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.

**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 Deferred taxes 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 foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforwards, and losses deferred due to wash sales and excise tax regulations.

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** | $702757257 |
| **Gross unrealized depreciation** | <u>(64880485)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$637876772</u> |
| **Tax cost** | <u>$1292219743</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 | $(48295015) |
| Long-term | <u>(15402043)</u> |
| **Total capital loss carryforward** | <u>$(63697058)</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 Emerging Asia Fund** | 906481990 | 768436933 |

---

**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 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 %** |
| **Fidelity Emerging Asia Fund** | .87 |

---

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 %** |
| **Fidelity Emerging Asia Fund** | .87 |

---

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 Emerging Asia Fund** | MSCI All Country Asia ex Japan Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of the 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 ±.20% 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 .13%.

**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 Emerging Asia Fund** | 655 |

---

**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 Emerging Asia Fund** | 7131032 | 6651902 | (178711) |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Emerging Asia Fund** | 167568 |

---

**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 Emerging Asia Fund** | 1007 |

---

**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 Emerging Asia Fund** | 9371 | - | - |

---

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 Emerging Asia Fund** | 5269981 |

---

**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 $1,772.

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

**Fidelity® Emerging Markets Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.4%** | &nbsp;&nbsp;**Common Stocks - 98.4%** | &nbsp;&nbsp;**Common Stocks - 98.4%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 4.4%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Broadline Retail - 0.3% |  |  |
| MercadoLibre Inc (a) | 19100 | 34239233 |
| Energy - 0.7% |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| PRIO SA/Brazil (a) | 5944400 | 79722041 |
| Financials - 2.3% |  |  |
| Banks - 1.5% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (a) | 10089670 | 146098422 |
| Capital Markets - 0.8% |  |  |
| Banco BTG Pactual SA unit  | 7365000 | 88258633 |
| TOTAL FINANCIALS |  | 234357055 |
| Information Technology - 0.4% |  |  |
| Software - 0.4% |  |  |
| TOTVS SA  | 6712200 | 43186456 |
| Utilities - 0.7% |  |  |
| Electric Utilities - 0.7% |  |  |
| Equatorial SA  | 9117500 | 77921685 |
| TOTAL BRAZIL |  | 469426470 |
| CANADA - 1.2%  |  |  |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Cameco Corp  | 797400 | 98023228 |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.3% |  |  |
| G Mining Ventures Corp (a) | 990600 | 34333896 |
| TOTAL CANADA |  | 132357124 |
| CHILE - 0.7%  |  |  |
| Materials - 0.7% |  |  |
| Metals & Mining - 0.7% |  |  |
| Antofagasta PLC  | 1631800 | 78815648 |
| CHINA - 22.8%  |  |  |
| Communication Services - 5.8% |  |  |
| Entertainment - 0.5% |  |  |
| Tencent Music Entertainment Group Class A ADR  | 5678225 | 52069323 |
| Interactive Media & Services - 5.3% |  |  |
| Tencent Holdings Ltd  | 9367500 | 568909499 |
| TOTAL COMMUNICATION SERVICES |  | 620978822 |
| Consumer Discretionary - 4.4% |  |  |
| Automobiles - 1.0% |  |  |
| BYD Co Ltd H Shares  | 8097200 | 107710315 |
| Broadline Retail - 2.9% |  |  |
| Alibaba Group Holding Ltd ADR (c) | 2360200 | 311263176 |
| Hotels, Restaurants & Leisure - 0.5% |  |  |
| Yum China Holdings Inc  | 1118200 | 54176790 |
| TOTAL CONSUMER DISCRETIONARY |  | 473150281 |
| Consumer Staples - 1.2% |  |  |
| Beverages - 1.2% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 1912200 | 57136789 |
| Kweichow Moutai Co Ltd A Shares (China)  | 353518 | 71712646 |
| TOTAL CONSUMER STAPLES |  | 128849435 |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Bank of Chengdu Co Ltd A Shares (China)  | 30607145 | 85897506 |
| Health Care - 1.9% |  |  |
| Health Care Equipment & Supplies - 0.5% |  |  |
| APT Medical Inc A Shares (China)  | 1523000 | 53480697 |
| Pharmaceuticals - 1.4% |  |  |
| Consun Pharmaceutical Group Ltd  | 15867000 | 32878843 |
| Hansoh Pharmaceutical Group Co Ltd (d)(e) | 24124000 | 115545963 |
|  |  | 148424806 |
| TOTAL HEALTH CARE |  | 201905503 |
| Industrials - 6.1% |  |  |
| Construction & Engineering - 0.6% |  |  |
| L&K Engineering Suzhou Co Ltd A Shares (China)  | 2252645 | 62401424 |
| Electrical Equipment - 3.9% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 3562037 | 228835978 |
| Sieyuan Electric Co Ltd A Shares (China)  | 6551166 | 187758519 |
|  |  | 416594497 |
| Machinery - 1.6% |  |  |
| Airtac International Group  | 1987000 | 93068085 |
| Neway Valve Suzhou Co Ltd A Shares (China)  | 8675279 | 80088989 |
|  |  | 173157074 |
| TOTAL INDUSTRIALS |  | 652152995 |
| Information Technology - 1.3% |  |  |
| Semiconductors & Semiconductor Equipment - 0.7% |  |  |
| NAURA Technology Group Co Ltd A Shares (China)  | 995539 | 78822942 |
| Software - 0.6% |  |  |
| Knowledge Atlas Technology JSC Ltd H Shares (c) | 139400 | 15931690 |
| Pony AI Inc ADR (a)(c) | 4496300 | 44378481 |
|  |  | 60310171 |
| TOTAL INFORMATION TECHNOLOGY |  | 139133113 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| JCHX Mining Management Co Ltd A Shares (China)  | 7145000 | 65904680 |
| Zijin Mining Group Co Ltd A Shares (China)  | 16298244 | 80322374 |
| TOTAL MATERIALS |  | 146227054 |
| TOTAL CHINA |  | 2448294709 |
| FRANCE - 1.8%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| Hermes International SCA  | 19019 | 36385282 |
| Energy - 1.5% |  |  |
| Oil, Gas & Consumable Fuels - 1.5% |  |  |
| Gaztransport Et Technigaz SA  | 666841 | 162006054 |
| TOTAL FRANCE |  | 198391336 |
| GERMANY - 0.5%  |  |  |
| Health Care - 0.5% |  |  |
| Biotechnology - 0.5% |  |  |
| BioNTech SE ADR (a) | 546500 | 56535425 |
| GREECE - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Optima bank SA  | 6305682 | 65569880 |
| HUNGARY - 0.5%  |  |  |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Richter Gedeon Nyrt  | 1346155 | 56702094 |
| INDIA - 9.2%  |  |  |
| Communication Services - 0.8% |  |  |
| Wireless Telecommunication Services - 0.8% |  |  |
| Bharti Airtel Ltd  | 4405031 | 88059726 |
| Consumer Discretionary - 1.0% |  |  |
| Broadline Retail - 0.0% |  |  |
| Meesho  | 942072 | 1931811 |
| Hotels, Restaurants & Leisure - 0.8% |  |  |
| Eternal Ltd (a) | 33001300 | 86595943 |
| Specialty Retail - 0.2% |  |  |
| Lenskart Solutions Ltd (h) | 3138591 | 17198513 |
| Lenskart Solutions Ltd (a) | 229328 | 1254417 |
|  |  | 18452930 |
| TOTAL CONSUMER DISCRETIONARY |  | 106980684 |
| Energy - 1.1% |  |  |
| Oil, Gas & Consumable Fuels - 1.1% |  |  |
| Reliance Industries Ltd  | 8046936 | 122047855 |
| Financials - 4.0% |  |  |
| Banks - 1.9% |  |  |
| HDFC Bank Ltd  | 16849834 | 137821485 |
| Kotak Mahindra Bank Ltd  | 15316740 | 62207985 |
|  |  | 200029470 |
| Capital Markets - 0.8% |  |  |
| 360 ONE WAM Ltd  | 7983361 | 87353674 |
| Consumer Finance - 0.8% |  |  |
| Bajaj Finance Ltd  | 8213000 | 81580018 |
| Insurance - 0.5% |  |  |
| SBI Life Insurance Co Ltd (d)(e) | 2808300 | 53937526 |
| TOTAL FINANCIALS |  | 422900688 |
| Health Care - 0.7% |  |  |
| Health Care Providers & Services - 0.7% |  |  |
| Max Healthcare Institute Ltd  | 6861200 | 72193147 |
| Industrials - 1.6% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Bharat Electronics Ltd  | 12669300 | 57840304 |
| Construction & Engineering - 0.7% |  |  |
| Larsen & Toubro Ltd  | 1804532 | 76659275 |
| Professional Services - 0.4% |  |  |
| Computer Age Management Services Ltd  | 4966600 | 38891487 |
| TOTAL INDUSTRIALS |  | 173391066 |
| TOTAL INDIA |  | 985573166 |
| INDONESIA - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Bank Central Asia Tbk PT  | 216149470 | 73283370 |
| ITALY - 0.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| Brunello Cucinelli SpA (c) | 318600 | 30946024 |
| KAZAKHSTAN - 0.9%  |  |  |
| Financials - 0.9% |  |  |
| Consumer Finance - 0.9% |  |  |
| Kaspi.KZ JSC ADR  | 1090000 | 93565600 |
| KOREA (SOUTH) - 17.4%  |  |  |
| Communication Services - 0.8% |  |  |
| Interactive Media & Services - 0.8% |  |  |
| Webtoon Entertainment Inc (a)(b)(c) | 7078696 | 86643239 |
| Consumer Staples - 1.2% |  |  |
| Personal Care Products - 1.2% |  |  |
| APR Corp/Korea  | 458780 | 132581463 |
| Financials - 0.4% |  |  |
| Insurance - 0.4% |  |  |
| Seoul Guarantee Insurance Co  | 1159536 | 37729890 |
| Health Care - 0.7% |  |  |
| Life Sciences Tools & Services - 0.7% |  |  |
| Samsung Biologics Co Ltd (a)(d)(e) | 75094 | 75352288 |
| Industrials - 1.4% |  |  |
| Industrial Conglomerates - 1.4% |  |  |
| SK Square Co Ltd (a) | 250960 | 146996509 |
| Information Technology - 12.9% |  |  |
| Semiconductors & Semiconductor Equipment - 6.3% |  |  |
| SK Hynix Inc  | 761540 | 683476811 |
| Technology Hardware, Storage & Peripherals - 6.6% |  |  |
| Samsung Electronics Co Ltd  | 4649607 | 704668017 |
| TOTAL INFORMATION TECHNOLOGY |  | 1388144828 |
| TOTAL KOREA (SOUTH) |  | 1867448217 |
| MEXICO - 1.7%  |  |  |
| Consumer Staples - 1.1% |  |  |
| Consumer Staples Distribution & Retail - 1.1% |  |  |
| BBB Foods Inc Class A (a)(c) | 2316139 | 84539074 |
| Grupo Comercial Chedraui SA de CV  | 5329100 | 31205520 |
| TOTAL CONSUMER STAPLES |  | 115744594 |
| Real Estate - 0.6% |  |  |
| Industrial REITs - 0.6% |  |  |
| Prologis Property Mexico SA de CV  | 15422314 | 70567339 |
| TOTAL MEXICO |  | 186311933 |
| NETHERLANDS - 0.5%  |  |  |
| Information Technology - 0.5% |  |  |
| Semiconductors & Semiconductor Equipment - 0.5% |  |  |
| BE Semiconductor Industries NV  | 196000 | 56864751 |
| PERU - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Credicorp Ltd  | 193700 | 62791729 |
| POLAND - 1.5%  |  |  |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| Dino Polska SA (a)(d)(e) | 4999606 | 44219644 |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 4301200 | 112300146 |
| TOTAL POLAND |  | 156519790 |
| RUSSIA - 0.0%  |  |  |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| Sberbank of Russia PJSC (a)(f) | 25741060 | 3 |
| SAUDI ARABIA - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| Al Rajhi Bank  | 6736830 | 123132835 |
| SOUTH AFRICA - 1.4%  |  |  |
| Consumer Discretionary - 1.4% |  |  |
| Broadline Retail - 1.4% |  |  |
| Naspers Ltd Class N  | 2691200 | 145728276 |
| SWEDEN - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Capital Markets - 0.1% |  |  |
| VEF AB (a)(b) | 73573525 | 15172510 |
| TAIWAN - 22.8%  |  |  |
| Industrials - 1.1% |  |  |
| Electrical Equipment - 1.1% |  |  |
| Bizlink Holding Inc  | 1330000 | 119804905 |
| Information Technology - 21.7% |  |  |
| Semiconductors & Semiconductor Equipment - 21.7% |  |  |
| ASPEED Technology Inc  | 175000 | 94374575 |
| eMemory Technology Inc  | 682000 | 86645220 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 30850000 | 2148479408 |
| TOTAL INFORMATION TECHNOLOGY |  | 2329499203 |
| TOTAL TAIWAN |  | 2449304108 |
| TURKEY - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Aerospace & Defense - 1.3% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 15242151 | 141762740 |
| UNITED ARAB EMIRATES - 1.9%  |  |  |
| Energy - 1.1% |  |  |
| Energy Equipment & Services - 0.7% |  |  |
| ADNOC Drilling Co PJSC  | 48523783 | 74771885 |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Adnoc Gas PLC  | 48472600 | 44472697 |
| TOTAL ENERGY |  | 119244582 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Abu Dhabi Commercial Bank PJSC  | 23021084 | 86491236 |
| Information Technology - 0.0% |  |  |
| IT Services - 0.0% |  |  |
| Presight AI Holding PLC (a) | 683619 | 580679 |
| TOTAL UNITED ARAB EMIRATES |  | 206316497 |
| UNITED KINGDOM - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Financial Services - 0.4% |  |  |
| Revolut Group Holdings Ltd (a)(f)(g) | 32055 | 47953318 |
| UNITED STATES - 4.1%  |  |  |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| Legend Biotech Corp ADR (a) | 1264643 | 29744403 |
| Information Technology - 3.8% |  |  |
| Semiconductors & Semiconductor Equipment - 2.8% |  |  |
| NVIDIA Corp  | 1525880 | 304519872 |
| Software - 1.0% |  |  |
| Synopsys Inc (a) | 214200 | 103372920 |
| TOTAL INFORMATION TECHNOLOGY |  | 407892792 |
| TOTAL UNITED STATES |  | 437637195 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $5,737,145,494) |  | <br> **10586404748** |

---

---

| | | |
|:---|:---|:---|
| &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 - 0.3%  |  |  |
| Communication Services - 0.3% |  |  |
| Interactive Media & Services - 0.3% |  |  |
| Bytedance Ltd Series E1 (a)(f)(g) | 85253 | 25703780 |
| INDIA - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.1% |  |  |
| Valuedrive Technologies Pvt Ltd Series A (f)(g) | 1405 | 1882841 |
| Valuedrive Technologies Pvt Ltd Series B (f)(g) | 2825 | 3785784 |
| Valuedrive Technologies Pvt Ltd Series C (f)(g) | 12 | 16081 |
| Valuedrive Technologies Pvt Ltd Series C1 (f)(g) | 10 | 13401 |
| Valuedrive Technologies Pvt Ltd Series G (f)(g) | 18092600 | 6734923 |
| Valuedrive Technologies Pvt Ltd Series S2 (f)(g) | 684 | 916629 |
| TOTAL INDIA |  | 13349659 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $23,328,779) |  | <br> **39053439** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 0.4%** |
|  | Shares | Value ($)<br>|
| BRAZIL - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Financial Services - 0.4% |  |  |
| Creditas Financial Solutions Ltd Series G2 (f)(g)<br>(Cost $30,523,684)<br>| 224729 | **47094209** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.7%** | &nbsp;&nbsp;**Money Market Funds - 1.7%** | &nbsp;&nbsp;**Money Market Funds - 1.7%** | &nbsp;&nbsp;**Money Market Funds - 1.7%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (i) | 3.69 | 130712594 | 130738736 |
| Fidelity Securities Lending Cash Central Fund (i)(j) | 3.69 | 51153844 | 51158960 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $181,897,696) |  |  | **181897696** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.9%**<br> (Cost $5,972,895,653)<br>| <br>**10854450092** |
| **NET OTHER ASSETS (LIABILITIES) - (0.9)%**  | **(98934637)** |
| **NET ASSETS - 100.0%** | **10755515455** |

---

**Legend**

(a) Non-income producing.

(b) Affiliated company.

(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 $289,055,421 or 2.7% 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 $289,055,421 or 2.7% of net assets.

(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 $134,100,966 or 1.2% of net assets.

(h) 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 $17,198,513 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Bytedance Ltd Series E1 | 11/18/2020 | 9341527 |
| Creditas Financial Solutions Ltd Series G2 | 1/28/2022 - 7/28/2023 | 30523684 |
| Revolut Group Holdings Ltd | 12/27/2024 - 1/28/2026 | 31391970 |
| Valuedrive Technologies Pvt Ltd Series A | 2/12/2026 | 1857141 |
| Valuedrive Technologies Pvt Ltd Series B | 2/12/2026 | 3734108 |
| Valuedrive Technologies Pvt Ltd Series C | 2/12/2026 | 14417 |
| Valuedrive Technologies Pvt Ltd Series C1 | 2/12/2026 | 12014 |
| Valuedrive Technologies Pvt Ltd Series G | 2/12/2026 | 7547821 |
| Valuedrive Technologies Pvt Ltd Series S2 | 2/12/2026 | 821751 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Lenskart Solutions Ltd | 5/7/2026 |

---

**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 | 70245419 | 1129026726 | 1068533938 | 2224842 | 529 | - | 130738736 | 130712594 | 0.2% |
| Fidelity Securities Lending Cash Central Fund | 29579750 | 707000602 | 685422049 | 229150 | 657 | - | 51158960 | 51153844 | 0.1% |
| Total | 99825169 | 1836027328 | 1753955987 | 2453992 | 1186 | - | 181897696 |  |  |

---

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.

**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  |
| VEF AB | 17308684 | - | - | - | - | (2136174) | 15172510 | 73573525 |
| Webtoon Entertainment Inc | 94522549 | 20043595 | 271181 | - | (267583) | (27384141) | 86643239 | 7078696 |
| Total | 111831233 | 20043595 | 271181 | - | (267583) | (29520315) | 101815749 |  |

---

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 | 795681787 | 138712562 | 656969225 | - |
| Consumer Discretionary | 827429780 | 430625223 | 396804557 | - |
| Consumer Staples | 421395136 | 159964238 | 261430898 | - |
| Energy | 581043760 | 458995905 | 122047855 | - |
| Financials | 1461145766 | 793380991 | 619811454 | 47953321 |
| Health Care | 492432860 | 142981922 | 349450938 | - |
| Industrials | 1234108215 | 141762740 | 1092345475 | - |
| Information Technology | 4365301822 | 552903159 | 3812398663 | - |
| Materials | 259376598 | 113149544 | 146227054 | - |
| Real Estate | 70567339 | 70567339 | - | - |
| Utilities | 77921685 | 77921685 | - | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 25703780 | - | - | 25703780 |
| Consumer Discretionary | 13349659 | - | - | 13349659 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Financials | 47094209 | - | - | 47094209 |
|  **Money Market Funds** | 181897696 | 181897696 | - | - |
| **Total Investments in Securities:** | 10854450092 | 3262863004 | 7457486119 | 134100969 |

---

The following is a reconciliation of consolidated Investments in Securities for which Level 3 inputs were used in determining value. Beginning balances have been updated to conform to current period presentation, as applicable.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning Balance ($)** | **Net Realized Gain (Loss) on Investment Securities ($)** | **Net Unrealized Gain (Loss) on Investment Securities ($)** | **Cost of Purchases ($)** | **Proceeds of Sales ($)** | **Amortization/**<br> **Accretion ($)** | **Transfers into Level 3 ($)** | **Transfers out of Level 3 ($)** | **Ending Balance ($)** | **The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2026 ($)** |
| **Common Stocks** | 133945740 | - | 4581821 | 9165620 | - | - | - | (99739860) | 47953321 | 4581821 |
| **Convertible Preferred Stocks** | 22046426 | (61) | 3019761 | 13987313 | - | - | - | - | 39053439 | 3019761 |
| **Non-Convertible Preferred Stocks** | - | - | 16570525 | 30523684 | - | - | - | - | 47094209 | 16570525 |
| **Convertible Corporate Bonds** | 36439175 | 88 | (5915491) | - | (30523772) | - | - | - | - | - |
| <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. |  |  |  |

---

**Fidelity® Emerging Markets 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 $138,858,241) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $5,656,684,058) | $10570736647 |  |
| Fidelity Central Funds (cost $181,897,696) | 181897696 |  |
| Other affiliated issuers (cost $134,313,899) | 101815749 |  |
| Total Investment in Securities (cost $5,972,895,653) |  | $10854450092 |
| Foreign currency held at value (cost $339,117) |  | 339633 |
| Receivable for investments sold |  | 590636 |
| Receivable for fund shares sold |  | 10764318 |
| Dividends receivable |  | 8857546 |
| Distributions receivable from Fidelity Central Funds |  | 527072 |
| Prepaid expenses |  | 2181 |
| Other receivables |  | 8532647 |
| **Total assets** |  | 10884064125 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $4106055 |  |
| Payable for fund shares redeemed | 11312042 |  |
| Accrued management fee | 6783487 |  |
| Distribution and service plan fees payable | 17468 |  |
| Deferred taxes | 54736876 |  |
| Other payables and accrued expenses | 434440 |  |
| Collateral on securities loaned | 51158302 |  |
| **Total liabilities** |  | 128548670 |
| **Net Assets**  |  | $10755515455 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $6306296515 |
| Total accumulated earnings (loss) |  | 4449218940 |
| **Net Assets** |  | $10755515455 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($46,801,187 ÷ 822,106 shares)(a) |  | $56.93 |
| Maximum offering price per share (100/94.25 of $56.93) |  | $60.40 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($9,673,874 ÷ 170,314 shares)(a) |  | $56.80 |
| Maximum offering price per share (100/96.50 of $56.80) |  | $58.86 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($4,255,351 ÷ 75,784 shares)(a) |  | $56.15 |
| **Emerging Markets :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($6,603,179,659 ÷ 114,962,328 shares) |  | $57.44 |
| **Class K :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,518,536,230 ÷ 43,790,024 shares) |  | $57.51 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($586,355,465 ÷ 10,238,806 shares) |  | $57.27 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($986,713,689 ÷ 17,042,854 shares) |  | $57.90 |
| *(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.* |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $53376165 |
| Income from Fidelity Central Funds (including $229,150 from security lending)  |  | 2453992 |
| Security lending |  | 19577 |
| Income before foreign taxes withheld |  | $55849734 |
| Less foreign taxes withheld |  | (7375794) |
| **Total income** |  | 48473940 |
| **Expenses** |  |  |
| Management fee | $38096490 |  |
| Distribution and service plan fees | 96053 |  |
| Custodian fees and expenses | 1110891 |  |
| Independent trustees' fees and expenses | 14447 |  |
| Registration fees | 191680 |  |
| Audit fees | 74309 |  |
| Legal | 5235 |  |
| Miscellaneous | 12550 |  |
| Total expenses before reductions | 39601655 |  |
| Expense reductions | (2429) |  |
| Total expenses after reductions |  | 39599226 |
| **Net Investment income (loss)** |  | 8874714 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 408256846 |  |
| Fidelity Central Funds | 1186 |  |
| Other affiliated issuers | (267583) |  |
| Foreign currency transactions | (2088188) |  |
| Total net realized gain (loss) |  | 405902261 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $27,296,226)  | 931337290 |  |
| Affiliated issuers  | (29520315) |  |
| Assets and liabilities in foreign currencies | (115702) |  |
| Total change in net unrealized appreciation (depreciation) |  | 901701273 |
| **Net gain (loss)** |  | 1307603534 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1316478248 |

---

---

| | | |
|:---|:---|:---|
| **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) | $8874714 | $56075081 |
| &nbsp;&nbsp;Net realized gain (loss) | 405902261<br>| 408036082<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 901701273 | 1528902468<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1316478248<br>| 1993013631<br>|
| Distributions to shareholders | (4946746)<br>| (46197464)<br>|
| Share transactions - net increase (decrease) | 177821830<br>| (1611471650)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1489353332<br>| 335344517<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 9266162123 | 8930817606<br>|
| &nbsp;&nbsp;End of period | $10755515455 | $9266162123 |

---

**Consolidated Financial Highlights** 

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021** A  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $50.00 | $39.62 | $31.80 | $27.73 | $47.48 | $46.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) B,C | (.03)  | .16  | .21  | .26 D | .16 E | (.04)  |
| Net realized and unrealized gain (loss)  | 6.96  | 10.46  | 7.91  | 3.95  | (17.27)  | .69  |
| Total from investment operations  | 6.93  | 10.62  | 8.12  | 4.21  | (17.11)  | .65  |
| Distributions from net investment income  | - F | (.24)  | (.30)  | (.14)  | (.48)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | -  |
| Total distributions  | - F | (.24)  | (.30)  | (.14)  | (2.64)  | -  |
| Net asset value, end of period  | $56.93 | $50.00 | $39.62 | $31.80 | $27.73 | $47.48 |
| **Total Return** G,H,I | 13.86% <br>| 26.97%  | 25.69%  | 15.18%  | (38.00)%  | 1.39%  |
| **Ratios to Average Net Assets** C,J,K |  |  |  |  |  |  |
| Expenses before reductions  | 1.14% L | 1.14%  | 1.14%  | 1.20%  | 1.21%  | 1.25% L |
| Expenses net of fee waivers, if any  | 1.14% L<br>| 1.14%  | 1.13%  | 1.20%  | 1.21%  | 1.25% L |
| Expenses net of all reductions, if any  | 1.14% L | 1.14%  | 1.13%  | 1.20%  | 1.21%  | 1.25% L |
| Net investment income (loss)  | (.13)% L | .40%  | .54%  | .77% D | .45% E | (.17)% L |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $46801 | $44055 | $38430 | $15288 | $10046 | $6248 |
| Portfolio turnover rate M | 30% L<br>| 31% N | 46% N,O | 23%  | 34%  | 38% L,O |

---

A*For the period May 11, 2021 (commencement of sale of shares) through October 31, 2021.*

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*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 .44%.*

E*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .22%.*

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

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

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

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

J*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.*

K*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.*

L*Annualized.*

M*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.*

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

O*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021** A  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $49.95 | $39.59 | $31.80 | $27.71 | $47.42 | $46.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) B,C | (.10)  | .06  | .11  | .17 D | .05 E | (.09)  |
| Net realized and unrealized gain (loss)  | 6.95  | 10.45  | 7.92  | 3.96  | (17.29)  | .68  |
| Total from investment operations  | 6.85  | 10.51  | 8.03  | 4.13  | (17.24)  | .59  |
| Distributions from net investment income  | -  | (.15)  | (.24)  | (.04)  | (.32)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | -  |
| Total distributions  | -  | (.15)  | (.24)  | (.04)  | (2.47) F | -  |
| Net asset value, end of period  | $56.80 | $49.95 | $39.59 | $31.80 | $27.71 | $47.42 |
| **Total Return** G,H,I | 13.71% <br>| 26.65%  | 25.37%  | 14.90%  | (38.20)%  | 1.26%  |
| **Ratios to Average Net Assets** C,J,K |  |  |  |  |  |  |
| Expenses before reductions  | 1.39% L | 1.39%  | 1.39%  | 1.48%  | 1.51%  | 1.52% L |
| Expenses net of fee waivers, if any  | 1.39% L<br>| 1.39%  | 1.39%  | 1.47%  | 1.50%  | 1.51% L |
| Expenses net of all reductions, if any  | 1.39% L | 1.39%  | 1.39%  | 1.47%  | 1.50%  | 1.51% L |
| Net investment income (loss)  | (.38)% L | .15%  | .29%  | .50% D | .15% E | (.39)% L |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $9674 | $7020 | $6498 | $3070 | $1392 | $2234 |
| Portfolio turnover rate M | 30% L<br>| 31% N | 46% N,O | 23%  | 34%  | 38% L,O |

---

A*For the period May 11, 2021 (commencement of sale of shares) through October 31, 2021.*

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*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 .17%.*

E*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.08)%.*

F*Total distributions per share do not sum due to rounding.*

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

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

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

J*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.*

K*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.*

L*Annualized.*

M*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.*

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

O*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021** A  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $49.50 | $39.29 | $31.54 | $27.59 | $47.31 | $46.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) B,C | (.23)  | (.14)  | (.08)  | - D,E | (.12) F | (.19)  |
| Net realized and unrealized gain (loss)  | 6.88  | 10.36  | 7.88  | 3.95  | (17.26)  | .67  |
| Total from investment operations  | 6.65  | 10.22  | 7.80  | 3.95  | (17.38)  | .48  |
| Distributions from net investment income  | -  | (.01)  | (.05)  | -  | (.18)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | -  |
| Total distributions  | -  | (.01)  | (.05)  | -  | (2.34)  | -  |
| Net asset value, end of period  | $56.15 | $49.50 | $39.29 | $31.54 | $27.59 | $47.31 |
| **Total Return** G,H,I | 13.43% <br>| 26.03%  | 24.73%  | 14.32%  | (38.50)%  | 1.02%  |
| **Ratios to Average Net Assets** C,J,K |  |  |  |  |  |  |
| Expenses before reductions  | 1.89% L | 1.89%  | 1.89%  | 1.98%  | 2.00%  | 2.01% L |
| Expenses net of fee waivers, if any  | 1.89% L<br>| 1.89%  | 1.88%  | 1.98%  | 2.00%  | 2.01% L |
| Expenses net of all reductions, if any  | 1.89% L | 1.89%  | 1.88%  | 1.97%  | 2.00%  | 2.01% L |
| Net investment income (loss)  | (.88)% L | (.35)%  | (.21)%  | (.01)% D | (.34)% F | (.86)% L |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $4255 | $3781 | $3573 | $1768 | $1377 | $1587 |
| Portfolio turnover rate M | 30% L<br>| 31% N | 46% N,O | 23%  | 34%  | 38% L,O |

---

A*For the period May 11, 2021 (commencement of sale of shares) through October 31, 2021.*

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*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 (.34)%.*

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

F*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.57)%.*

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

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

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

J*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.*

K*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.*

L*Annualized.*

M*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.*

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

O*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity® 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  | $50.40 | $39.83 | $31.97 | $27.87 | $47.56 | $40.26 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .04  | .28  | .30  | .36 C | .28 D | .12  |
| Net realized and unrealized gain (loss)  | 7.02  | 10.54  | 7.96  | 3.98  | (17.35)  | 7.81  |
| Total from investment operations  | 7.06  | 10.82  | 8.26  | 4.34  | (17.07)  | 7.93  |
| Distributions from net investment income  | (.02)  | (.25)  | (.40)  | (.24)  | (.46)  | (.09)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | (.54)  |
| Total distributions  | (.02)  | (.25)  | (.40)  | (.24)  | (2.62)  | (.63)  |
| Net asset value, end of period  | $57.44 | $50.40 | $39.83 | $31.97 | $27.87 | $47.56 |
| **Total Return** E,F | 14.02% <br>| 27.33%  | 26.02%  | 15.56%  | (37.83)%  | 19.83%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .86% I | .86%  | .87%  | .90%  | .90%  | .88%  |
| Expenses net of fee waivers, if any  | .86% I<br>| .86%  | .87%  | .90%  | .90%  | .88%  |
| Expenses net of all reductions, if any  | .86% I | .86%  | .87%  | .90%  | .90%  | .88%  |
| Net investment income (loss)  | .15% I | .67%  | .81%  | 1.07% C | .76% D | .26%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $6603180 | $5777850 | $4759858 | $3985433 | $3330900 | $5016159 |
| Portfolio turnover rate J | 30% I<br>| 31% K | 46% K,L | 23%  | 34%  | 38% L |

---

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 .74%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .53%.*

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

L*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity® Emerging Markets Fund Class K**<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  | $50.44 | $39.87 | $32.00 | $27.90 | $47.62 | $40.30 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .33  | .36  | .40 C | .33 D | .16  |
| Net realized and unrealized gain (loss)  | 7.03  | 10.54  | 7.95  | 3.98  | (17.35)  | 7.83  |
| Total from investment operations  | 7.10  | 10.87  | 8.31  | 4.38  | (17.02)  | 7.99  |
| Distributions from net investment income  | (.03)  | (.30)  | (.44)  | (.28)  | (.54)  | (.12)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | (.54)  |
| Total distributions  | (.03)  | (.30)  | (.44)  | (.28)  | (2.70)  | (.67) E |
| Net asset value, end of period  | $57.51 | $50.44 | $39.87 | $32.00 | $27.90 | $47.62 |
| **Total Return** F,G | 14.10% <br>| 27.47%  | 26.20%  | 15.69%  | (37.73)%  | 19.94%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .74% J | .74%  | .74%  | .77%  | .77%  | .77%  |
| Expenses net of fee waivers, if any  | .74% J<br>| .74%  | .74%  | .76%  | .77%  | .77%  |
| Expenses net of all reductions, if any  | .74% J | .74%  | .74%  | .76%  | .77%  | .77%  |
| Net investment income (loss)  | .27% J | .80%  | .94%  | 1.20% C | .88% D | .34%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2518536 | $2087700 | $1897730 | $1095217 | $826468 | $1689454 |
| Portfolio turnover rate K | 30% J<br>| 31% L | 46% L,M | 23%  | 34%  | 38% M |

---

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 .87%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .66%.*

E*Total distributions per share do not sum due to rounding.*

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

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

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 Consolidated 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*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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021** A  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $50.25 | $39.72 | $31.89 | $27.83 | $47.55 | $46.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) B,C | .03  | .27  | .31  | .36 D | .26 E | .04  |
| Net realized and unrealized gain (loss)  | 7.01  | 10.50  | 7.92  | 3.97  | (17.29)  | .68  |
| Total from investment operations  | 7.04  | 10.77  | 8.23  | 4.33  | (17.03)  | .72  |
| Distributions from net investment income  | (.02)  | (.24)  | (.40)  | (.27)  | (.53)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | -  |
| Total distributions  | (.02)  | (.24)  | (.40)  | (.27)  | (2.69)  | -  |
| Net asset value, end of period  | $57.27 | $50.25 | $39.72 | $31.89 | $27.83 | $47.55 |
| **Total Return** F,G | 14.02% <br>| 27.29%  | 26.01%  | 15.54%  | (37.81)%  | 1.54%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .88% J | .87%  | .88%  | .91%  | .89%  | .94% J |
| Expenses net of fee waivers, if any  | .88% J<br>| .87%  | .87%  | .90%  | .89%  | .93% J |
| Expenses net of all reductions, if any  | .88% J | .87%  | .87%  | .90%  | .89%  | .93% J |
| Net investment income (loss)  | .13% J | .66%  | .81%  | 1.06% D | .76% E | .17% J |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $586355 | $484299 | $303027 | $114992 | $47819 | $25824 |
| Portfolio turnover rate K | 30% J<br>| 31% L | 46% L,M | 23%  | 34%  | 38% J,M |

---

A*For the period May 11, 2021 (commencement of sale of shares) through October 31, 2021.*

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*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 .73%.*

E*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .53%.*

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

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

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 Consolidated 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*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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024**  | **2023**  | **2022**  | **2021** A  |
| **Selected Per-Share Data**  |  |  |  |  |  |  |
| Net asset value, beginning of period  | $50.78 | $39.82 | $31.96 | $27.87 | $47.59 | $46.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) B,C | .07  | .34  | .36  | .40 D | .32 E | (.03)  |
| Net realized and unrealized gain (loss)  | 7.08  | 10.62  | 7.94  | 3.97  | (17.33)  | .79  |
| Total from investment operations  | 7.15  | 10.96  | 8.30  | 4.37  | (17.01)  | .76  |
| Distributions from net investment income  | (.03)  | -  | (.44)  | (.28)  | (.55)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (2.16)  | -  |
| Total distributions  | (.03)  | -  | (.44)  | (.28)  | (2.71)  | -  |
| Net asset value, end of period  | $57.90 | $50.78 | $39.82 | $31.96 | $27.87 | $47.59 |
| **Total Return** F,G | 14.10% <br>| 27.52%  | 26.20%  | 15.67%  | (37.74)%  | 1.62%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .74% J | .73%  | .74%  | .77%  | .77%  | .78% J |
| Expenses net of fee waivers, if any  | .74% J<br>| .73%  | .74%  | .76%  | .77%  | .78% J |
| Expenses net of all reductions, if any  | .74% J | .73%  | .74%  | .76%  | .77%  | .78% J |
| Net investment income (loss)  | .27% J | .80%  | .94%  | 1.20% D | .88% E | (.13)% J |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $986714 | $861457 | $1921701 | $1611575 | $1306539 | $1797766 |
| Portfolio turnover rate K | 30% J<br>| 31% L | 46% L,M | 23%  | 34%  | 38% J,M |

---

A*For the period May 11, 2021 (commencement of sale of shares) through October 31, 2021.*

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*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 .87%.*

E*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .66%.*

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

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

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 Consolidated 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*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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity Emerging Markets 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, Emerging Markets, Class K, 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 Consolidated 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 consolidated 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 consolidated 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 consolidated financial statements and consolidated financial highlights. Subsequent events, if any, through the date that the consolidated financial statements were issued have been evaluated in the preparation of the consolidated financial statements. The Fund's Consolidated 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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Fair Value** | **Valuation Technique(s)** | **Unobservable Input** | **Amount or Range/Weighted Average** | **Impact to Valuation from an Increase in InputA** |
| Convertible Preferred Stocks | $39053439  | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 2.0 | Increase |
|  |  |  | Enterprise value/Gross profit multiple (EV/GP)  | 7.3 | Increase |
| Common Stocks | $47953321  | Market comparable  | Enterprise value/Net income (EV/NI) | 30.0 | Increase |
|  |  | Recovery value  | Recovery value  | $0.00  | Increase |
| Non-Convertible Preferred Stocks | $47094209  | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 7.8 | Increase |

---

*A Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end.* 

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, as well as a roll forward of Level 3 investments, is included at the end of the Fund's Consolidated 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 Consolidated 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 Consolidated Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Consolidated Statement of Assets and Liabilities in dividends 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 consolidated 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 Deferred taxes on the Consolidated 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 consolidated 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, 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** | $5169904576 |
| **Gross unrealized depreciation** | <u>(375763094)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$4794141482</u> |
| **Tax cost** | <u>$6060308610</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 | $(689240038) |
| Long-term | <u>-</u> |
| **Total capital loss carryforward** | <u>$(689240038)</u> |

---

Due to a merger in a prior period, approximately $99,915,601 of the Fund's realized capital losses are subject to limitation. Due to this limitation, the Fund will only be permitted to use approximately $6,505,359 of those capital losses per year to offset capital gains. These realized capital losses were acquired from Fidelity Latin America Fund when it merged into the Fund on September 13, 2024.

**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 Consolidated Schedule of Investments, if applicable.

Consolidated Special Purpose Vehicle. The Funds included in the table below hold 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 Emerging Markets Fund** | FID FDI 322,LLC | 29300195 | .27 |

---

The financial statements have been consolidated to include the SPV accounts where applicable. Accordingly, all inter-company transactions and balances have been eliminated.

**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 Emerging Markets Fund** | 1581535232 | 1447463639 |

---

**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** | .86 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Emerging Markets** | .84 |
| **Class K** | .71 |
| **Class I** | .85 |
| **Class Z** | .71 |

---

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** | .86 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Emerging Markets** | .83 |
| **Class K** | .71 |
| **Class I** | .85 |
| **Class Z** | .71 |

---

**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% | 56459 | 4036 |
| **Class M** | .25% | .25% | 20026 | 227 |
| **Class C** | .75% | .25% | <u>19568</u> | <u>3222</u> |
|  |  |  | <u>96053</u> | <u>7485</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** | 28975 |
| **Class M** | 500 |
| **Class C**A | <u>43</u> |
|  | <u>29518</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 Consolidated Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Emerging Markets Fund** | 3007 |

---

**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 Emerging Markets Fund** | 35975961 | 44390884 | 14452485 |

---

**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 Consolidated 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 Emerging Markets Fund** | 36475274 | (1624940) | 288075298 | 286450358 | 1449162640 |

---

**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 Consolidated 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 Emerging Markets Fund** | 5989 |

---

**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 Consolidated Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Consolidated 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 Consolidated 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 Consolidated 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 Emerging Markets Fund** | 27882 | 396 | - |

---

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 Consolidated Schedule of Investments or Consolidated Statement of Assets and Liabilities.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Emerging Markets Fund** | 90088493 |

---

**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 $2,429.

**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 Emerging Markets Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1695 | $235767 |
| Class M | - | 24237 |
| Class C | - | 1260 |
| Emerging Markets | 2759351 | 29623551 |
| Class K | 1421404 | 14351242 |
| Class I | 212721 | 1961407 |
| Class Z | <u>551575</u> | <u>-</u> |
| Total  | <u>$4946746</u> | <u>$46197464</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 Emerging Markets Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 289564 | 188169 | $15290627 | $7706796 |
| Reinvestment of distributions  | 34 | 5924 | 1665 | 232853 |
| Shares redeemed | <u>(348635)</u> | <u>(282931)</u> | <u>(18652300)</u> | <u>(11419928)</u> |
| Net increase (decrease) | <u>(59037)</u> | <u>(88838)</u> | <u>$(3360008)</u> | <u>$(3480279)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 42886 | 21930 | $2245487 | $936918 |
| Reinvestment of distributions  | - | 612 | - | 24099 |
| Shares redeemed | <u>(13131)</u> | <u>(46136)</u> | <u>(689758)</u> | <u>(1768542)</u> |
| Net increase (decrease) | <u>29755</u> | <u>(23594)</u> | <u>$1555729</u> | <u>$(807525)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 11697 | 10500 | $605330 | $440194 |
| Reinvestment of distributions  | - | 32 | - | 1243 |
| Shares redeemed | <u>(12302)</u> | <u>(25085)</u> | <u>(622076)</u> | <u>(999300)</u> |
| Net increase (decrease) | <u>(605)</u> | <u>(14553)</u> | <u>$(16746)</u> | <u>$(557863)</u> |
| **Emerging Markets** |  |  |  |  |
| Shares sold | 14087401 | 32687563 | $733013175 | $1326262247 |
| Reinvestment of distributions  | 39653 | 539294 | 1928692 | 21318295 |
| Shares redeemed | <u>(13813493)</u> | <u>(38075903)</u> | <u>(718810296)</u> | <u>(1554268938)</u> |
| Net increase (decrease) | <u>313561</u> | <u>(4849046)</u> | <u>$16131571</u> | <u>$(206688396)</u> |
| **Class K** |  |  |  |  |
| Shares sold | 8682720 | 15958631 | $453945760 | $650936361 |
| Reinvestment of distributions  | 28971 | 362455 | 1410329 | 14324210 |
| Shares redeemed | <u>(6308152)</u> | <u>(22531862)</u> | <u>(327518258)</u> | <u>(911066013)</u> |
| Net increase (decrease) | <u>2403539</u> | <u>(6210776)</u> | <u>$127837831</u> | <u>$(245805442)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 1777798 | 4645133 | $91328681 | $185475723 |
| Reinvestment of distributions  | 3718 | 41131 | 180301 | 1621391 |
| Shares redeemed | <u>(1180281)</u> | <u>(2677881)</u> | <u>(60965449)</u> | <u>(109173266)</u> |
| Net increase (decrease) | <u>601235</u> | <u>2008383</u> | <u>$30543533</u> | <u>$77923848</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 3495153 | 9939484 | $183385016 | $412066927 |
| Reinvestment of distributions  | 7383 | - | 361839 | - |
| Shares redeemed | <u>(3424883)</u> | <u>(41229653)</u> | <u>(178616935)</u> | <u>(1644122920)</u> |
| Net increase (decrease) | <u>77653</u> | <u>(31290169)</u> | <u>$5129920</u> | <u>$(1232055993)</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 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® Europe 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 - 1.6%  |  |  |
| Materials - 1.6% |  |  |
| Metals & Mining - 1.6% |  |  |
| Glencore PLC  | 2075500 | 16130450 |
| AUSTRIA - 0.8%  |  |  |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Erste Group Bank AG  | 33200 | 3668471 |
| Raiffeisen Bank International AG  | 70900 | 3861027 |
| TOTAL AUSTRIA |  | 7529498 |
| BELGIUM - 3.3%  |  |  |
| Consumer Staples - 0.6% |  |  |
| Food Products - 0.6% |  |  |
| Lotus Bakeries NV (b) | 500 | 6020825 |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| KBC Group NV  | 84800 | 11271265 |
| Health Care - 1.6% |  |  |
| Pharmaceuticals - 1.6% |  |  |
| UCB SA (a) | 55200 | 14978403 |
| TOTAL BELGIUM |  | 32270493 |
| CANADA - 0.6%  |  |  |
| Information Technology - 0.6% |  |  |
| Electronic Equipment, Instruments & Components - 0.6% |  |  |
| Celestica Inc (a) | 13500 | 5542519 |
| COTE D'IVOIRE - 0.3%  |  |  |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.3% |  |  |
| Endeavour Mining PLC  | 48100 | 2769818 |
| DENMARK - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Air Freight & Logistics - 0.7% |  |  |
| DSV A/S  | 29900 | 7318683 |
| FINLAND - 1.5%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Nordea Bank Abp (Sweden)  | 371200 | 6919230 |
| Information Technology - 0.8% |  |  |
| Communications Equipment - 0.8% |  |  |
| Nokia Oyj  | 609900 | 7591156 |
| TOTAL FINLAND |  | 14510386 |
| FRANCE - 11.1%  |  |  |
| Communication Services - 1.4% |  |  |
| Diversified Telecommunication Services - 1.4% |  |  |
| Orange SA  | 646800 | 13467897 |
| Consumer Discretionary - 1.0% |  |  |
| Textiles, Apparel & Luxury Goods - 1.0% |  |  |
| Hermes International SCA  | 800 | 1530481 |
| LVMH Moet Hennessy Louis Vuitton SE  | 14900 | 7893806 |
| TOTAL CONSUMER DISCRETIONARY |  | 9424287 |
| Consumer Staples - 0.7% |  |  |
| Food Products - 0.2% |  |  |
| Danone SA  | 24627 | 1929477 |
| Personal Care Products - 0.5% |  |  |
| L'Oreal SA  | 11200 | 4811684 |
| TOTAL CONSUMER STAPLES |  | 6741161 |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Gaztransport Et Technigaz SA  | 35900 | 8721745 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| BNP Paribas SA  | 87400 | 9178881 |
| Health Care - 0.6% |  |  |
| Biotechnology - 0.6% |  |  |
| Abivax SA (a)(b) | 57100 | 6605808 |
| Industrials - 3.8% |  |  |
| Aerospace & Defense - 2.1% |  |  |
| Airbus SE  | 79800 | 16451528 |
| Dassault Aviation SA  | 12944 | 4508904 |
|  |  | 20960432 |
| Building Products - 0.6% |  |  |
| Cie de Saint-Gobain SA  | 63400 | 5808700 |
| Electrical Equipment - 0.9% |  |  |
| Legrand SA  | 48800 | 8743185 |
| Trading Companies & Distributors - 0.2% |  |  |
| Rexel SA  | 49100 | 2060713 |
| TOTAL INDUSTRIALS |  | 37573030 |
| Materials - 1.1% |  |  |
| Chemicals - 1.1% |  |  |
| Air Liquide SA  | 50118 | 10782407 |
| Utilities - 0.7% |  |  |
| Multi-Utilities - 0.7% |  |  |
| Engie SA  | 214300 | 7059975 |
| TOTAL FRANCE |  | 109555191 |
| GERMANY - 8.0%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Automobile Components - 0.1% |  |  |
| Schaeffler AG Class Registered  | 171700 | 1628247 |
| Financials - 1.0% |  |  |
| Capital Markets - 1.0% |  |  |
| Deutsche Boerse AG  | 30700 | 9418695 |
| Health Care - 0.5% |  |  |
| Health Care Providers & Services - 0.4% |  |  |
| Fresenius SE & Co KGaA  | 84000 | 4068088 |
| Pharmaceuticals - 0.1% |  |  |
| Bayer AG  | 19700 | 879750 |
| TOTAL HEALTH CARE |  | 4947838 |
| Industrials - 6.4% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| Rheinmetall AG  | 1857 | 2954923 |
| Electrical Equipment - 4.0% |  |  |
| Siemens Energy AG  | 185000 | 39208478 |
| Industrial Conglomerates - 2.1% |  |  |
| Siemens AG  | 70100 | 20830998 |
| TOTAL INDUSTRIALS |  | 62994399 |
| TOTAL GERMANY |  | 78989179 |
| HONG KONG - 1.9%  |  |  |
| Financials - 1.9% |  |  |
| Insurance - 1.9% |  |  |
| Prudential PLC  | 1200400 | 18089487 |
| Prudential PLC rights (a)(c) | 1200400 | 227705 |
| TOTAL HONG KONG |  | 18317192 |
| IRELAND - 1.6%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| AIB Group PLC  | 1014600 | 11667314 |
| Industrials - 0.4% |  |  |
| Building Products - 0.4% |  |  |
| Kingspan Group PLC  | 47000 | 4338456 |
| TOTAL IRELAND |  | 16005770 |
| ISRAEL - 1.5%  |  |  |
| Health Care - 1.5% |  |  |
| Pharmaceuticals - 1.5% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (a) | 406600 | 14259462 |
| ITALY - 7.7%  |  |  |
| Communication Services - 1.2% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| Telecom Italia SpA/Milano (a) | 15151600 | 11939288 |
| Consumer Discretionary - 1.3% |  |  |
| Leisure Products - 0.5% |  |  |
| Technogym SpA (d)(e) | 194977 | 4585848 |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Brunello Cucinelli SpA (b) | 84500 | 8207593 |
| TOTAL CONSUMER DISCRETIONARY |  | 12793441 |
| Consumer Staples - 0.7% |  |  |
| Beverages - 0.7% |  |  |
| Coca-Cola HBC AG  | 120300 | 7006284 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| FinecoBank Banca Fineco SpA  | 326335 | 8073705 |
| Intesa Sanpaolo SpA  | 1961700 | 13328246 |
| TOTAL FINANCIALS |  | 21401951 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 87800 | 5115227 |
| Industrials - 1.8% |  |  |
| Electrical Equipment - 1.8% |  |  |
| Prysmian SpA  | 116300 | 17690302 |
| TOTAL ITALY |  | 75946493 |
| JAPAN - 0.8%  |  |  |
| Information Technology - 0.8% |  |  |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| Kioxia Holdings Corp (a) | 20500 | 4960153 |
| Lasertec Corp  | 11200 | 3095438 |
| TOTAL JAPAN |  | 8055591 |
| MEXICO - 0.2%  |  |  |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Fresnillo PLC  | 53800 | 2368289 |
| NETHERLANDS - 6.7%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| ING Groep NV  | 308900 | 8939996 |
| Information Technology - 5.8% |  |  |
| Semiconductors & Semiconductor Equipment - 5.8% |  |  |
| ASML Holding NV  | 39500 | 57099078 |
| TOTAL NETHERLANDS |  | 66039074 |
| NORWAY - 0.7%  |  |  |
| Energy - 0.7% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| Odfjell Drilling Ltd  | 157800 | 1693019 |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Equinor ASA  | 124500 | 5066808 |
| TOTAL NORWAY |  | 6759827 |
| POLAND - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Professional Services - 0.2% |  |  |
| Benefit Systems SA (a) | 2000 | 2207017 |
| PORTUGAL - 1.1%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Sonae SGPS SA  | 879500 | 2010775 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| Banco Comercial Portugues SA  | 8310400 | 8865932 |
| TOTAL PORTUGAL |  | 10876707 |
| SINGAPORE - 0.9%  |  |  |
| Information Technology - 0.9% |  |  |
| Semiconductors & Semiconductor Equipment - 0.9% |  |  |
| STMicroelectronics NV  | 168400 | 9094527 |
| SPAIN - 5.4%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Household Durables - 0.4% |  |  |
| Neinor Homes SA (d)(e) | 177100 | 3458681 |
| Financials - 4.3% |  |  |
| Banks - 4.3% |  |  |
| Banco Santander SA  | 1749800 | 21316917 |
| Bankinter SA  | 346800 | 5765464 |
| CaixaBank SA  | 1230300 | 15659694 |
| TOTAL FINANCIALS |  | 42742075 |
| Industrials - 0.7% |  |  |
| Construction & Engineering - 0.7% |  |  |
| ACS Actividades de Construccion y Servicios SA  | 45097 | 6488984 |
| Transportation Infrastructure - 0.0% |  |  |
| Aena SME SA (b)(d)(e) | 31100 | 848272 |
| TOTAL INDUSTRIALS |  | 7337256 |
| TOTAL SPAIN |  | 53538012 |
| SWEDEN - 4.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| Haypp Group AB (a) | 399824 | 5274546 |
| Financials - 2.5% |  |  |
| Capital Markets - 0.9% |  |  |
| EQT AB  | 275700 | 8856800 |
| Financial Services - 1.6% |  |  |
| Investor AB B Shares  | 354500 | 14283285 |
| TOTAL FINANCIALS |  | 23140085 |
| Industrials - 1.7% |  |  |
| Building Products - 1.1% |  |  |
| Assa Abloy AB B Shares  | 253200 | 9636834 |
| Munters Group AB (d)(e) | 50300 | 1090144 |
|  |  | 10726978 |
| Machinery - 0.6% |  |  |
| Atlas Copco AB B Shares  | 378800 | 6353165 |
| TOTAL INDUSTRIALS |  | 17080143 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Kry International Ab (a)(f)(g) | 18879 | 150227 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Alleima AB  | 249900 | 2218115 |
| TOTAL SWEDEN |  | 47863116 |
| SWITZERLAND - 4.5%  |  |  |
| Consumer Discretionary - 1.8% |  |  |
| Textiles, Apparel & Luxury Goods - 1.8% |  |  |
| Cie Financiere Richemont SA Series A  | 92040 | 17664078 |
| Financials - 1.2% |  |  |
| Capital Markets - 1.2% |  |  |
| UBS Group AG  | 276740 | 12219274 |
| Health Care - 1.5% |  |  |
| Pharmaceuticals - 1.5% |  |  |
| Galderma Group AG  | 67950 | 14255464 |
| TOTAL SWITZERLAND |  | 44138816 |
| TAIWAN - 0.9%  |  |  |
| Information Technology - 0.9% |  |  |
| Semiconductors & Semiconductor Equipment - 0.9% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 23400 | 9267804 |
| UNITED KINGDOM - 21.3%  |  |  |
| Communication Services - 2.5% |  |  |
| Diversified Telecommunication Services - 1.7% |  |  |
| Zegona Communications plc  | 655167 | 15708556 |
| Interactive Media & Services - 0.2% |  |  |
| MONY Group PLC  | 853300 | 2064486 |
| Wireless Telecommunication Services - 0.6% |  |  |
| Vodafone Group PLC  | 4012100 | 6383840 |
| TOTAL COMMUNICATION SERVICES |  | 24156882 |
| Consumer Discretionary - 1.1% |  |  |
| Leisure Products - 0.6% |  |  |
| Games Workshop Group PLC  | 22868 | 6064826 |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| Burberry Group PLC (a) | 331400 | 5221129 |
| TOTAL CONSUMER DISCRETIONARY |  | 11285955 |
| Consumer Staples - 2.2% |  |  |
| Tobacco - 2.2% |  |  |
| British American Tobacco PLC  | 242600 | 14287886 |
| Imperial Brands PLC  | 185968 | 7065421 |
| TOTAL CONSUMER STAPLES |  | 21353307 |
| Financials - 5.5% |  |  |
| Banks - 3.1% |  |  |
| HSBC Holdings PLC  | 678700 | 12487962 |
| Lloyds Banking Group PLC  | 13050809 | 17740005 |
|  |  | 30227967 |
| Financial Services - 0.3% |  |  |
| Revolut Group Holdings Ltd (a)(f)(g) | 1798 | 2689753 |
| Insurance - 2.1% |  |  |
| Admiral Group PLC  | 168400 | 7740697 |
| Hiscox Ltd  | 608967 | 12827531 |
|  |  | 20568228 |
| TOTAL FINANCIALS |  | 53485948 |
| Health Care - 3.9% |  |  |
| Pharmaceuticals - 3.9% |  |  |
| Astrazeneca PLC  | 196900 | 37371110 |
| Industrials - 3.0% |  |  |
| Aerospace & Defense - 2.9% |  |  |
| Rolls-Royce Holdings PLC  | 1776700 | 28589875 |
| Trading Companies & Distributors - 0.1% |  |  |
| Diploma PLC  | 11500 | 1086014 |
| TOTAL INDUSTRIALS |  | 29675889 |
| Information Technology - 1.4% |  |  |
| Electronic Equipment, Instruments & Components - 1.4% |  |  |
| Halma PLC  | 227345 | 13633482 |
| Utilities - 1.7% |  |  |
| Electric Utilities - 0.8% |  |  |
| SSE PLC  | 232600 | 8328100 |
| Multi-Utilities - 0.9% |  |  |
| National Grid PLC  | 487667 | 8729524 |
| TOTAL UTILITIES |  | 17057624 |
| TOTAL UNITED KINGDOM |  | 208020197 |
| UNITED STATES - 10.8%  |  |  |
| Energy - 3.8% |  |  |
| Oil, Gas & Consumable Fuels - 3.8% |  |  |
| Shell PLC  | 821577 | 37354483 |
| Health Care - 3.4% |  |  |
| Biotechnology - 0.2% |  |  |
| Insmed Inc (a) | 17300 | 2358509 |
| Pharmaceuticals - 3.2% |  |  |
| Roche Holding AG  | 76930 | 31348963 |
| TOTAL HEALTH CARE |  | 33707472 |
| Industrials - 2.1% |  |  |
| Electrical Equipment - 2.1% |  |  |
| Schneider Electric SE  | 64400 | 20492648 |
| Materials - 1.5% |  |  |
| Construction Materials - 1.5% |  |  |
| CRH PLC  | 26700 | 3161814 |
| Holcim AG  | 120190 | 11168827 |
| TOTAL MATERIALS |  | 14330641 |
| TOTAL UNITED STATES |  | 105885244 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $690,117,659) |  | <br> **973259355** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** |
|  | Shares | Value ($)<br>|
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (a)(f)(g)<br>(Cost $1,000,736)<br>| 3852 | **799566** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 5016810 | 5017814 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 14748243 | 14749718 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $19,767,532) |  |  | **19767532** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.1%**<br> (Cost $710,885,927)<br>| <br>**993826453** |
| **NET OTHER ASSETS (LIABILITIES) - (1.1)%**  | **(11065483)** |
| **NET ASSETS - 100.0%** | **982760970** |

---

**Legend**

(a) Non-income producing.

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

(c) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(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 $9,982,945 or 1.0% of net assets.

(e) 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 $9,982,945 or 1.0% of net assets.

(f) 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 $3,639,546 or 0.4% of net assets.

(g) Level 3 security.

(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>|
| Bolt Technology OU Series E | 1/3/2022 | 1000736 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 1248474 |
| Revolut Group Holdings Ltd | 12/27/2024 - 1/28/2026 | 1834012 |

---

**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 | 3759906 | 210445341 | 209186272 | 334635 | (1161) | - | 5017814 | 5016810 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 5772200 | 45445302 | 36467607 | 18212 | (177) | - | 14749718 | 14748243 | 0.0% |
| Total | 9532106 | 255890643 | 245653879 | 352847 | (1338) | - | 19767532 |  |  |

---

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 | 49564067 | 29712330 | 19851737 | - |
| Consumer Discretionary | 61529235 | 42334676 | 19194559 | - |
| Consumer Staples | 43132352 | 19849568 | 23282784 | - |
| Energy | 52836055 | 10414764 | 42421291 | - |
| Financials | 245097336 | 133896146 | 108511437 | 2689753 |
| Health Care | 131240784 | 106311424 | 24929360 | - |
| Industrials | 206707823 | 88100587 | 118607236 | - |
| Information Technology | 110434384 | 45129488 | 65154669 | 150227 |
| Materials | 48599720 | 10518036 | 38081684 | - |
| Utilities | 24117599 | 7059975 | 17057624 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 799566 | - | - | 799566 |
|  **Money Market Funds** | 19767532 | 19767532 | - | - |
| **Total Investments in Securities:** | 993826453 | 513094526 | 477092381 | 3639546 |

---

**Fidelity® Europe 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 $15,430,994) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $691,118,395) | $974058921 |  |
| Fidelity Central Funds (cost $19,767,532) | 19767532 |  |
| Total Investment in Securities (cost $710,885,927) |  | $993826453 |
| Foreign currency held at value (cost $174,832) |  | 174970 |
| Receivable for investments sold |  | 8655501 |
| Receivable for fund shares sold |  | 278900 |
| Dividends receivable |  | 3647255 |
| Reclaims receivable |  | 4897716 |
| Distributions receivable from Fidelity Central Funds |  | 22352 |
| Prepaid expenses |  | 242 |
| Other receivables |  | 91 |
| **Total assets** |  | 1011503480 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $11226816 |  |
| Delayed delivery | 231171 |  |
| Payable for fund shares redeemed | 1818810 |  |
| Accrued management fee | 662472 |  |
| Distribution and service plan fees payable | 10269 |  |
| Other payables and accrued expenses | 43077 |  |
| Collateral on securities loaned | 14749895 |  |
| **Total liabilities** |  | 28742510 |
| **Net Assets**  |  | $982760970 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $716074187 |
| Total accumulated earnings (loss) |  | 266686783 |
| **Net Assets** |  | $982760970 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($23,983,268 ÷ 492,491 shares)(a) |  | $48.70 |
| Maximum offering price per share (100/94.25 of $48.70) |  | $51.67 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($7,188,989 ÷ 147,434 shares)(a) |  | $48.76 |
| Maximum offering price per share (100/96.50 of $48.76) |  | $50.53 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($2,859,920 ÷ 59,309 shares)(a) |  | $48.22 |
| **Europe :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($931,928,448 ÷ 19,142,440 shares) |  | $48.68 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($8,969,514 ÷ 184,131 shares) |  | $48.71 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($7,830,831 ÷ 161,650 shares) |  | $48.44 |
| *(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  |  | $14425515 |
| Foreign Tax Reclaims |  | 1293997 |
| Income from Fidelity Central Funds (including $18,212 from security lending)  |  | 352847 |
| Security lending |  | 656 |
| Income before foreign taxes withheld |  | $16073015 |
| Less foreign taxes withheld |  | (1236087) |
| **Total income** |  | 14836928 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $3936428 |  |
| Performance adjustment | (178746) |  |
| Distribution and service plan fees | 60641 |  |
| Custodian fees and expenses | 27836 |  |
| Independent trustees' fees and expenses | 1500 |  |
| Registration fees | 80329 |  |
| Audit fees | 45078 |  |
| Legal | 500 |  |
| Miscellaneous | 1338 |  |
| Total expenses before reductions | 3974904 |  |
| Expense reductions | (186) |  |
| Total expenses after reductions |  | 3974718 |
| **Net Investment income (loss)** |  | 10862210 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 35803344 |  |
| Fidelity Central Funds | (1338) |  |
| Foreign currency transactions | 143677 |  |
| Total net realized gain (loss) |  | 35945683 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 30064399 |  |
| Assets and liabilities in foreign currencies | 125275 |  |
| Total change in net unrealized appreciation (depreciation) |  | 30189674 |
| **Net gain (loss)** |  | 66135357 |
| **Net increase (decrease) in net assets resulting from operations** |  | $76997567 |

---

---

| | | |
|:---|:---|:---|
| **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) | $10862210 | $12475157 |
| &nbsp;&nbsp;Net realized gain (loss) | 35945683<br>| 37599899<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 30189674 | 133420012<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 76997567<br>| 183495068<br>|
| Distributions to shareholders | (20919563)<br>| (17620668)<br>|
| Share transactions - net increase (decrease) | (2705782)<br>| 182842323<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 53372222<br>| 348716723<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 929388748 | 580672025<br>|
| &nbsp;&nbsp;End of period | $982760970 | $929388748 |

---

**Financial Highlights** 

**Fidelity Advisor® Europe 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  | $45.76 | $36.65 | $30.50 | $27.58 | $46.12 | $35.37 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .46  | .57  | .53  | .46  | .47  | .41  |
| Net realized and unrealized gain (loss)  | 3.36  | 9.57 C | 6.05  | 2.46  | (12.91)  | 10.72  |
| Total from investment operations  | 3.82  | 10.14  | 6.58  | 2.92  | (12.44)  | 11.13  |
| Distributions from net investment income  | (.88)  | (1.03)  | (.43)  | -  | (.99)  | (.38)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (.88)  | (1.03)  | (.43)  | -  | (6.10) D | (.38)  |
| Net asset value, end of period  | $48.70 | $45.76 | $36.65 | $30.50 | $27.58 | $46.12 |
| **Total Return** E,F,G | 8.48% <br>| 28.45% C | 21.73%  | 10.59%  | (30.29)%  | 31.60%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.10% J | 1.07%  | .93%  | 1.02%  | 1.18%  | 1.36%  |
| Expenses net of fee waivers, if any  | 1.10% J<br>| 1.07%  | .93%  | 1.01%  | 1.18%  | 1.36%  |
| Expenses net of all reductions, if any  | 1.10% J | 1.07%  | .93%  | 1.01%  | 1.18%  | 1.36%  |
| Net investment income (loss)  | 1.95% J | 1.38%  | 1.47%  | 1.43%  | 1.42%  | .92%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $23983 | $22129 | $15852 | $15325 | $16495 | $32148 |
| Portfolio turnover rate K | 89% J<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 28.41%.*

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

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*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® Europe 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  | $45.78 | $36.66 | $30.50 | $27.65 | $46.18 | $35.42 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .40  | .46  | .44  | .38  | .37  | .27  |
| Net realized and unrealized gain (loss)  | 3.37  | 9.60 C | 6.05  | 2.47  | (12.95)  | 10.75  |
| Total from investment operations  | 3.77  | 10.06  | 6.49  | 2.85  | (12.58)  | 11.02  |
| Distributions from net investment income  | (.79)  | (.94)  | (.33)  | -  | (.83)  | (.26)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (.79)  | (.94)  | (.33)  | -  | (5.95)  | (.26)  |
| Net asset value, end of period  | $48.76 | $45.78 | $36.66 | $30.50 | $27.65 | $46.18 |
| **Total Return** D,E,F | 8.35% <br>| 28.14% C | 21.39%  | 10.31%  | (30.51)%  | 31.20%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.35% I | 1.32%  | 1.19%  | 1.29%  | 1.49%  | 1.68%  |
| Expenses net of fee waivers, if any  | 1.35% I<br>| 1.32%  | 1.19%  | 1.28%  | 1.48%  | 1.68%  |
| Expenses net of all reductions, if any  | 1.35% I | 1.32%  | 1.19%  | 1.28%  | 1.48%  | 1.68%  |
| Net investment income (loss)  | 1.70% I | 1.13%  | 1.21%  | 1.16%  | 1.12%  | .59%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7189 | $6799 | $4665 | $4248 | $4066 | $6937 |
| Portfolio turnover rate J | 89% I<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 28.10%.*

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*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® Europe 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  | $45.29 | $36.19 | $30.03 | $27.36 | $45.63 | $35.01 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .28  | .26  | .26  | .21  | .21  | .04  |
| Net realized and unrealized gain (loss)  | 3.34  | 9.51 C | 5.98  | 2.46  | (12.84)  | 10.64  |
| Total from investment operations  | 3.62  | 9.77  | 6.24  | 2.67  | (12.63)  | 10.68  |
| Distributions from net investment income  | (.69)  | (.67)  | (.08)  | -  | (.52)  | (.06)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (.69)  | (.67)  | (.08)  | -  | (5.64)  | (.06)  |
| Net asset value, end of period  | $48.22 | $45.29 | $36.19 | $30.03 | $27.36 | $45.63 |
| **Total Return** D,E,F | 8.07% <br>| 27.48% C | 20.80%  | 9.76%  | (30.85)%  | 30.53%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.85% I | 1.81%  | 1.67%  | 1.79%  | 1.99%  | 2.19%  |
| Expenses net of fee waivers, if any  | 1.85% I<br>| 1.81%  | 1.67%  | 1.78%  | 1.98%  | 2.18%  |
| Expenses net of all reductions, if any  | 1.85% I | 1.81%  | 1.67%  | 1.78%  | 1.98%  | 2.18%  |
| Net investment income (loss)  | 1.20% I | .64%  | .73%  | .65%  | .62%  | .09%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2860 | $2589 | $1601 | $2025 | $2496 | $5255 |
| Portfolio turnover rate J | 89% I<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 27.44%.*

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*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® Europe 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  | $45.84 | $36.71 | $30.58 | $27.57 | $46.11 | $35.35 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .53  | .69  | .64  | .57  | .57  | .54  |
| Net realized and unrealized gain (loss)  | 3.35  | 9.58 C | 6.05  | 2.44  | (12.88)  | 10.71  |
| Total from investment operations  | 3.88  | 10.27  | 6.69  | 3.01  | (12.31)  | 11.25  |
| Distributions from net investment income  | (1.04)  | (1.14)  | (.56)  | -  | (1.11)  | (.49)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (1.04)  | (1.14)  | (.56)  | -  | (6.23)  | (.49)  |
| Net asset value, end of period  | $48.68 | $45.84 | $36.71 | $30.58 | $27.57 | $46.11 |
| **Total Return** D,E | 8.62% <br>| 28.85% C | 22.07%  | 10.92%  | (30.07)%  | 31.99%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .81% H | .77%  | .65%  | .70%  | .88%  | 1.06%  |
| Expenses net of fee waivers, if any  | .81% H<br>| .77%  | .64%  | .69%  | .88%  | 1.06%  |
| Expenses net of all reductions, if any  | .81% H | .77%  | .64%  | .69%  | .88%  | 1.06%  |
| Net investment income (loss)  | 2.25% H | 1.67%  | 1.76%  | 1.75%  | 1.73%  | 1.21%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $931928 | $877403 | $552467 | $519010 | $523685 | $913296 |
| Portfolio turnover rate I | 89% H<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 28.81%.*

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 Advisor® Europe 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  | $45.91 | $36.71 | $30.58 | $27.56 | $46.07 | $35.34 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .53  | .71  | .64  | .57  | .60  | .54  |
| Net realized and unrealized gain (loss)  | 3.36  | 9.56 C | 6.05  | 2.45  | (12.91)  | 10.70  |
| Total from investment operations  | 3.89  | 10.27  | 6.69  | 3.02  | (12.31)  | 11.24  |
| Distributions from net investment income  | (1.09)  | (1.07)  | (.56)  | -  | (1.08)  | (.51)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (1.09)  | (1.07)  | (.56)  | -  | (6.20)  | (.51)  |
| Net asset value, end of period  | $48.71 | $45.91 | $36.71 | $30.58 | $27.56 | $46.07 |
| **Total Return** D,E | 8.63% <br>| 28.82% C | 22.09%  | 10.96%  | (30.08)%  | 31.99%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .83% H | .77%  | .62%  | .68%  | .86%  | 1.06%  |
| Expenses net of fee waivers, if any  | .83% H<br>| .77%  | .61%  | .67%  | .86%  | 1.06%  |
| Expenses net of all reductions, if any  | .83% H | .77%  | .61%  | .67%  | .86%  | 1.06%  |
| Net investment income (loss)  | 2.23% H | 1.67%  | 1.79%  | 1.77%  | 1.74%  | 1.22%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $8970 | $13659 | $3011 | $4806 | $4283 | $14401 |
| Portfolio turnover rate I | 89% H<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 28.78%.*

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 Advisor® Europe 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  | $45.70 | $36.63 | $30.53 | $27.48 | $46.00 | $35.27 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .55  | .74  | .67  | .61  | .62  | .59  |
| Net realized and unrealized gain (loss)  | 3.34  | 9.53 C | 6.04  | 2.44  | (12.86)  | 10.67  |
| Total from investment operations  | 3.89  | 10.27  | 6.71  | 3.05  | (12.24)  | 11.26  |
| Distributions from net investment income  | (1.15)  | (1.20)  | (.61)  | -  | (1.17)  | (.53)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (5.12)  | -  |
| Total distributions  | (1.15)  | (1.20)  | (.61)  | -  | (6.28) D | (.53)  |
| Net asset value, end of period  | $48.44 | $45.70 | $36.63 | $30.53 | $27.48 | $46.00 |
| **Total Return** E,F | 8.68% <br>| 28.97% C | 22.20%  | 11.10%  | (30.00)%  | 32.13%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .72% I | .67%  | .55%  | .57%  | .76%  | .95%  |
| Expenses net of fee waivers, if any  | .72% I<br>| .67%  | .54%  | .56%  | .75%  | .95%  |
| Expenses net of all reductions, if any  | .72% I | .67%  | .54%  | .56%  | .75%  | .95%  |
| Net investment income (loss)  | 2.34% I | 1.78%  | 1.86%  | 1.87%  | 1.85%  | 1.33%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7831 | $6811 | $3076 | $2222 | $1461 | $28249 |
| Portfolio turnover rate J | 89% I<br>| 51%  | 31%  | 37%  | 55%  | 52%  |

---

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*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.02 per share. Excluding this reimbursement, the total return would have been 28.93%.*

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*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 Europe 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, Europe, 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 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.

**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** | $291514876 |
| **Gross unrealized depreciation** | <u>(13375349)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$278139527</u> |
| **Tax cost** | <u>$715686926</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 | $(46348544) |
| Long-term | <u>-</u> |
| **Total capital loss carryforward** | <u>$(46348544)</u> |

---

**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 Europe Fund** | 421093220 | 425830601 |

---

**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** | .88 |
| **Class M** | .88 |
| **Class C** | .88 |
| **Europe** | .84 |
| **Class I** | .83 |
| **Class Z** | .72 |

---

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** | .86 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Europe** | .81 |
| **Class I** | .83 |
| **Class Z** | .72 |

---

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 Europe Fund** | MSCI Europe Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Europe. 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 ±.20% 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% | 28962 | 887 |
| **Class M** | .25% | .25% | 17314 | 360 |
| **Class C** | .75% | .25% | <u>14365</u> | <u>4497</u> |
|  |  |  | <u>60641</u> | <u>5744</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** | 4761 |
| **Class M** | <u>106</u> |
|  | <u>4867</u> |

---

**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 Europe Fund** | 139 |

---

**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 Europe Fund** | 10937118 | 32937456 | 6941972 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Europe Fund** | 8116 |

---

**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 Europe Fund** | 611 |

---

**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 Europe Fund** | 2034 | - | - |

---

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 Europe Fund** | 1229707 |

---

**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 $186.

**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 Europe Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $425096 | $439342 |
| Class M | 114909 | 119110 |
| Class C | 42832 | 28833 |
| Europe | 19862885 | 16851586 |
| Class I | 291147 | 88150 |
| Class Z | <u>182694</u> | <u>93647</u> |
| Total  | <u>$20919563</u> | <u>$17620668</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 Europe Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 60694 | 245415 | $2893070 | $10009889 |
| Reinvestment of distributions  | 9231 | 12218 | 423232 | 436804 |
| Shares redeemed | <u>(61016)</u> | <u>(206587)</u> | <u>(2849111)</u> | <u>(8594432)</u> |
| Net increase (decrease) | <u>8909</u> | <u>51046</u> | <u>$467191</u> | <u>$1852261</u> |
| **Class M** |  |  |  |  |
| Shares sold | 5991 | 34918 | $286452 | $1419163 |
| Reinvestment of distributions  | 2370 | 3192 | 108953 | 114398 |
| Shares redeemed | <u>(9423)</u> | <u>(16851)</u> | <u>(437550)</u> | <u>(683663)</u> |
| Net increase (decrease) | <u>(1062)</u> | <u>21259</u> | <u>$(42145)</u> | <u>$849898</u> |
| **Class C** |  |  |  |  |
| Shares sold | 12652 | 23752 | $582579 | $948756 |
| Reinvestment of distributions  | 937 | 805 | 42698 | 28650 |
| Shares redeemed | <u>(11433)</u> | <u>(11650)</u> | <u>(546023)</u> | <u>(478640)</u> |
| Net increase (decrease) | <u>2156</u> | <u>12907</u> | <u>$79254</u> | <u>$498766</u> |
| **Europe** |  |  |  |  |
| Shares sold | 2439588 | 8273765 | $115678717 | $343059918 |
| Reinvestment of distributions  | 398668 | 432120 | 18246942 | 15431021 |
| Shares redeemed | <u>(2838034)</u> | <u>(4612503)</u> | <u>(132509470)</u> | <u>(190893686)</u> |
| Net increase (decrease) | <u>222</u> | <u>4093382</u> | <u>$1416189</u> | <u>$167597253</u> |
| **Class I** |  |  |  |  |
| Shares sold | 27431 | 339459 | $1299882 | $14220516 |
| Reinvestment of distributions  | 6263 | 2344 | 286847 | 83882 |
| Shares redeemed | <u>(147064)</u> | <u>(126319)</u> | <u>(6797799)</u> | <u>(5159005)</u> |
| Net increase (decrease) | <u>(113370)</u> | <u>215484</u> | <u>$(5211070)</u> | <u>$9145393</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 31868 | 104128 | $1483466 | $4468979 |
| Reinvestment of distributions  | 3151 | 1904 | 143431 | 67744 |
| Shares redeemed | <u>(22407)</u> | <u>(40966)</u> | <u>(1042098)</u> | <u>(1637971)</u> |
| Net increase (decrease) | <u>12612</u> | <u>65066</u> | <u>$584799</u> | <u>$2898752</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.

**Fidelity® Japan Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.9%** | &nbsp;&nbsp;**Common Stocks - 97.9%** | &nbsp;&nbsp;**Common Stocks - 97.9%** |
|  | Shares | Value ($)<br>|
| JAPAN - 96.8%  |  |  |
| Communication Services - 3.6% |  |  |
| Entertainment - 2.2% |  |  |
| Konami Group Corp  | 59600 | 7156367 |
| Nintendo Co Ltd  | 299800 | 14665884 |
|  |  | 21822251 |
| Wireless Telecommunication Services - 1.4% |  |  |
| SoftBank Group Corp  | 439200 | 15002556 |
| TOTAL COMMUNICATION SERVICES |  | 36824807 |
| Consumer Discretionary - 12.1% |  |  |
| Automobile Components - 0.5% |  |  |
| Yokohama Rubber Co Ltd/The  | 124700 | 5075510 |
| Automobiles - 3.3% |  |  |
| Toyota Motor Corp  | 1784200 | 34248464 |
| Broadline Retail - 0.8% |  |  |
| Pan Pacific International Holdings Corp  | 1451000 | 8206933 |
| Hotels, Restaurants & Leisure - 1.1% |  |  |
| Curves Holdings Co Ltd  | 975000 | 5099378 |
| Kyoritsu Maintenance Co Ltd  | 396000 | 6024917 |
|  |  | 11124295 |
| Household Durables - 4.8% |  |  |
| Open House Group Co Ltd  | 179700 | 10576003 |
| Panasonic Holdings Corp  | 896800 | 18344771 |
| Sony Group Corp  | 799500 | 16018249 |
| Sumitomo Forestry Co Ltd  | 577600 | 5219851 |
|  |  | 50158874 |
| Leisure Products - 0.3% |  |  |
| Roland Corp  | 141600 | 3692806 |
| Specialty Retail - 1.3% |  |  |
| Fast Retailing Co Ltd  | 27700 | 13039646 |
| TOTAL CONSUMER DISCRETIONARY |  | 125546528 |
| Consumer Staples - 5.6% |  |  |
| Beverages - 0.7% |  |  |
| Asahi Group Holdings Ltd  | 727400 | 7161711 |
| Consumer Staples Distribution & Retail - 0.6% |  |  |
| Tsuruha Holdings Inc  | 473845 | 6247635 |
| Food Products - 2.9% |  |  |
| Ajinomoto Co Inc  | 459400 | 14765309 |
| Kewpie Corp  | 359500 | 9538933 |
| Kotobuki Spirits Co Ltd (d) | 369600 | 4730293 |
|  |  | 29034535 |
| Personal Care Products - 0.5% |  |  |
| Rohto Pharmaceutical Co Ltd  | 378600 | 5567301 |
| Tobacco - 0.9% |  |  |
| Japan Tobacco Inc  | 260900 | 9719761 |
| TOTAL CONSUMER STAPLES |  | 57730943 |
| Energy - 1.4% |  |  |
| Oil, Gas & Consumable Fuels - 1.4% |  |  |
| ENEOS Holdings Inc  | 840400 | 7058086 |
| Inpex Corp  | 299300 | 7802805 |
| TOTAL ENERGY |  | 14860891 |
| Financials - 13.9% |  |  |
| Banks - 9.0% |  |  |
| Chiba Bank Ltd/The  | 385500 | 5321138 |
| Mizuho Financial Group Inc  | 600800 | 25836031 |
| Sumitomo Mitsui Financial Group Inc  | 1568200 | 55371659 |
| Suruga Bank Ltd  | 446700 | 6623209 |
|  |  | 93152037 |
| Capital Markets - 0.8% |  |  |
| SBI Holdings Inc  | 426700 | 8609963 |
| Financial Services - 2.2% |  |  |
| ORIX Corp  | 683000 | 22987384 |
| Insurance - 1.9% |  |  |
| LIFENET INSURANCE CO (b)(d) | 370700 | 4564466 |
| Tokio Marine Holdings Inc  | 322700 | 14778618 |
|  |  | 19343084 |
| TOTAL FINANCIALS |  | 144092468 |
| Health Care - 7.3% |  |  |
| Health Care Equipment & Supplies - 3.1% |  |  |
| Asahi Intecc Co Ltd  | 280700 | 5906655 |
| Hoya Corp  | 140000 | 26144132 |
|  |  | 32050787 |
| Pharmaceuticals - 4.2% |  |  |
| Chugai Pharmaceutical Co Ltd  | 420700 | 22435679 |
| Santen Pharmaceutical Co Ltd  | 597300 | 6155462 |
| Takeda Pharmaceutical Co Ltd  | 458300 | 15322250 |
|  |  | 43913391 |
| TOTAL HEALTH CARE |  | 75964178 |
| Industrials - 23.6% |  |  |
| Building Products - 2.7% |  |  |
| Daikin Industries Ltd  | 107400 | 15175105 |
| Nitto Boseki Co Ltd  | 68000 | 12493708 |
|  |  | 27668813 |
| Construction & Engineering - 0.6% |  |  |
| COMSYS Holdings Corp  | 203700 | 7335553 |
| Electrical Equipment - 3.7% |  |  |
| Furukawa Electric Co Ltd  | 88900 | 24144073 |
| Mitsubishi Electric Corp  | 160800 | 6453063 |
| NIDEC CORP  | 477200 | 7350678 |
|  |  | 37947814 |
| Industrial Conglomerates - 3.8% |  |  |
| Hitachi Ltd  | 1229100 | 39083351 |
| Machinery - 8.2% |  |  |
| Daifuku Co Ltd  | 5200 | 227353 |
| Ebara Corp  | 518100 | 17723119 |
| Hoshizaki Corp  | 161000 | 5234845 |
| IHI Corp  | 675900 | 12345698 |
| Japan Engine Corp (d) | 58000 | 4599232 |
| Japan Steel Works Ltd/The (d) | 75100 | 4589411 |
| Kawasaki Heavy Industries Ltd  | 526000 | 10813725 |
| Mitsubishi Heavy Industries Ltd  | 682500 | 20369826 |
| Namura Shipbuilding Co Ltd (d) | 348200 | 9120463 |
|  |  | 85023672 |
| Professional Services - 2.9% |  |  |
| BayCurrent Inc  | 144300 | 4647046 |
| Funai Soken Holdings Inc  | 50600 | 361008 |
| Gakujo Co Ltd (d) | 202100 | 2064036 |
| Persol Holdings Co Ltd  | 6018500 | 8958055 |
| SIGMAXYZ Holdings Inc  | 663000 | 2716800 |
| SMS Co Ltd  | 238300 | 2715091 |
| Timee Inc (b)(d) | 479500 | 3895730 |
| Visional Inc (b) | 97100 | 4585242 |
|  |  | 29943008 |
| Trading Companies & Distributors - 1.7% |  |  |
| ITOCHU Corp  | 1405500 | 17418516 |
| TOTAL INDUSTRIALS |  | 244420727 |
| Information Technology - 16.3% |  |  |
| Electronic Equipment, Instruments & Components - 3.8% |  |  |
| Dexerials Corp  | 571500 | 8919300 |
| Hamamatsu Photonics KK  | 467300 | 6023700 |
| Ibiden Co Ltd (d) | 231500 | 19800231 |
| Jeol Ltd  | 118300 | 4758817 |
|  |  | 39502048 |
| IT Services - 3.4% |  |  |
| ExaWizards Inc (b)(d) | 774300 | 3596914 |
| Fujitsu Ltd  | 409300 | 8215205 |
| NEC Corp  | 428700 | 11403425 |
| NSD Co Ltd  | 354200 | 6080360 |
| TechMatrix Corp  | 482200 | 5598372 |
|  |  | 34894276 |
| Semiconductors & Semiconductor Equipment - 6.7% |  |  |
| Kioxia Holdings Corp (b) | 114100 | 27607483 |
| Lasertec Corp  | 20800 | 5748671 |
| Renesas Electronics Corp  | 1435200 | 29023545 |
| Rohm Co Ltd (d) | 336400 | 7278001 |
|  |  | 69657700 |
| Software - 0.7% |  |  |
| Money Forward Inc (b)(d) | 250800 | 7678115 |
| Technology Hardware, Storage & Peripherals - 1.7% |  |  |
| FUJIFILM Holdings Corp  | 941300 | 17323347 |
| TOTAL INFORMATION TECHNOLOGY |  | 169055486 |
| Materials - 11.9% |  |  |
| Chemicals - 9.9% |  |  |
| Carlit Co Ltd  | 292200 | 5103504 |
| MEC Co Ltd  | 128600 | 7734572 |
| Mitsubishi Gas Chemical Co Inc  | 287400 | 8091669 |
| Mitsui Chemicals Inc  | 420000 | 5123613 |
| NOF Corp  | 335700 | 6855998 |
| Resonac Holdings Corp (d) | 204700 | 18732944 |
| Shin-Etsu Chemical Co Ltd  | 484600 | 22312051 |
| Tokyo Ohka Kogyo Co Ltd  | 190700 | 11211216 |
| Toyo Gosei Co Ltd (d) | 176300 | 17203047 |
|  |  | 102368614 |
| Metals & Mining - 2.0% |  |  |
| JX Advanced Metals Corp  | 387800 | 12031241 |
| Mitsui Kinzoku Co Ltd  | 34700 | 9534127 |
|  |  | 21565368 |
| TOTAL MATERIALS |  | 123933982 |
| Real Estate - 1.1% |  |  |
| Real Estate Management & Development - 1.1% |  |  |
| Relo Group Inc  | 612000 | 7661256 |
| Sumitomo Realty & Development Co Ltd  | 112600 | 3490556 |
| TOTAL REAL ESTATE |  | 11151812 |
| TOTAL JAPAN |  | 1003581822 |
| KOREA (SOUTH) - 0.2%  |  |  |
| Communication Services - 0.2% |  |  |
| Interactive Media & Services - 0.2% |  |  |
| Webtoon Entertainment Inc (b) | 220600 | 2700144 |
| UNITED STATES - 0.9%  |  |  |
| Industrials - 0.9% |  |  |
| Aerospace & Defense - 0.9% |  |  |
| Space Exploration Technologies Corp (a)(b)(c) | 18055 | 9507582 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $617,545,954) |  | <br> **1015789548** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.3%** | &nbsp;&nbsp;**Money Market Funds - 5.3%** | &nbsp;&nbsp;**Money Market Funds - 5.3%** | &nbsp;&nbsp;**Money Market Funds - 5.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e) | 3.69 | 658581 | 658713 |
| Fidelity Securities Lending Cash Central Fund (e)(f) | 3.69 | 54209389 | 54214810 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $54,873,523) |  |  | **54873523** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 103.2%**<br> (Cost $672,419,477)<br>| <br>**1070663071** |
| **NET OTHER ASSETS (LIABILITIES) - (3.2)%**  | **(33547264)** |
| **NET ASSETS - 100.0%** | **1037115807** |

---

**Legend**

(a) 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 $9,507,582 or 0.9% of net assets.

(b) Non-income producing.

(c) Level 3 security.

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

(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.

---

| | | |
|:---|:---|:---|
| 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>|
| Space Exploration Technologies Corp | 2/16/2021 - 5/24/2022 | 1151845 |

---

**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 | 1181280 | 44861354 | 45384027 | 23935 | 106 | - | 658713 | 658581 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 61202904 | 216959444 | 223948492 | 380528 | 954 | - | 54214810 | 54209389 | 0.2% |
| Total | 62384184 | 261820798 | 269332519 | 404463 | 1060 | - | 54873523 |  |  |

---

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 | 39524951 | 2700144 | 36824807 | - |
| Consumer Discretionary | 125546528 | - | 125546528 | - |
| Consumer Staples | 57730943 | - | 57730943 | - |
| Energy | 14860891 | - | 14860891 | - |
| Financials | 144092468 | - | 144092468 | - |
| Health Care | 75964178 | - | 75964178 | - |
| Industrials | 253928309 | - | 244420727 | 9507582 |
| Information Technology | 169055486 | - | 169055486 | - |
| Materials | 123933982 | - | 123933982 | - |
| Real Estate | 11151812 | - | 11151812 | - |
|  **Money Market Funds** | 54873523 | 54873523 | - | - |
| **Total Investments in Securities:** | 1070663071 | 57573667 | 1003581822 | 9507582 |

---

**Fidelity® Japan 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 $52,008,502) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $617,545,954) | $1015789548 |  |
| Fidelity Central Funds (cost $54,873,523) | 54873523 |  |
| Total Investment in Securities (cost $672,419,477) |  | $1070663071 |
| Foreign currency held at value (cost $14,813,790) |  | 15090677 |
| Receivable for investments sold |  | 63620 |
| Receivable for fund shares sold |  | 249402 |
| Dividends receivable |  | 7016022 |
| Distributions receivable from Fidelity Central Funds |  | 98097 |
| Prepaid expenses |  | 213 |
| **Total assets** |  | 1093181102 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $716086 |  |
| Payable for fund shares redeemed | 372880 |  |
| Accrued management fee | 710586 |  |
| Distribution and service plan fees payable | 8629 |  |
| Other payables and accrued expenses | 43257 |  |
| Collateral on securities loaned | 54213857 |  |
| **Total liabilities** |  | 56065295 |
| **Net Assets**  |  | $1037115807 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $612760335 |
| Total accumulated earnings (loss) |  | 424355472 |
| **Net Assets** |  | $1037115807 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($26,342,229 ÷ 1,143,476 shares)(a) |  | $23.04 |
| Maximum offering price per share (100/94.25 of $23.04) |  | $24.45 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($4,061,104 ÷ 177,755 shares)(a) |  | $22.85 |
| Maximum offering price per share (100/96.50 of $22.85) |  | $23.68 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($2,167,078 ÷ 96,906 shares)(a) |  | $22.36 |
| **Japan :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($312,233,344 ÷ 13,433,773 shares) |  | $23.24 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($47,172,513 ÷ 2,000,695 shares) |  | $23.58 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($645,139,539 ÷ 27,835,034 shares) |  | $23.18 |
| *(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  |  | $9669525 |
| Income from Fidelity Central Funds (including $380,528 from security lending)  |  | 404463 |
| Security lending |  | 63840 |
| Income before foreign taxes withheld |  | $10137828 |
| Less foreign taxes withheld |  | (966647) |
| **Total income** |  | 9171181 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $3528787 |  |
| Performance adjustment | 119235 |  |
| Distribution and service plan fees | 48716 |  |
| Custodian fees and expenses | 21119 |  |
| Independent trustees' fees and expenses | 1409 |  |
| Registration fees | 46996 |  |
| Audit fees | 33621 |  |
| Legal | 465 |  |
| Interest | 42563 |  |
| Miscellaneous | 1226 |  |
| Total expenses before reductions | 3844137 |  |
| Expense reductions | (98) |  |
| Total expenses after reductions |  | 3844039 |
| **Net Investment income (loss)** |  | 5327142 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 53471117 |  |
| Fidelity Central Funds | 1060 |  |
| Foreign currency transactions | (1576729) |  |
| Total net realized gain (loss) |  | 51895448 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 86360674 |  |
| Assets and liabilities in foreign currencies | 625868 |  |
| Total change in net unrealized appreciation (depreciation) |  | 86986542 |
| **Net gain (loss)** |  | 138881990 |
| **Net increase (decrease) in net assets resulting from operations** |  | $144209132 |

---

---

| | | |
|:---|:---|:---|
| **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) | $5327142 | $10703429 |
| &nbsp;&nbsp;Net realized gain (loss) | 51895448<br>| 54581467<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 86986542 | 150052568<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 144209132<br>| 215337464<br>|
| Distributions to shareholders | (82214313)<br>| (32121491)<br>|
| Share transactions - net increase (decrease) | 56917142<br>| 42001787<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 118911961<br>| 225217760<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 918203846 | 692986086<br>|
| &nbsp;&nbsp;End of period | $1037115807 | $918203846 |

---

**Financial Highlights** 

**Fidelity Advisor® Japan 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  | $21.72 | $17.34 | $14.56 | $13.26 | $20.90 | $17.50 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .20  | .15  | .11  | .04  | .02  |
| Net realized and unrealized gain (loss)  | 3.14  | 4.92  | 3.18  | 1.19  | (5.58)  | 3.71  |
| Total from investment operations  | 3.23  | 5.12  | 3.33  | 1.30  | (5.54)  | 3.73  |
| Distributions from net investment income  | (.84)  | (.38)  | (.09)  | -  | (.55)  | (.07)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.91)  | (.74) C | (.55)  | -  | (2.10)  | (.33) C |
| Net asset value, end of period  | $23.04 | $21.72 | $17.34 | $14.56 | $13.26 | $20.90 |
| **Total Return** D,E,F | 16.35% <br>| 30.78%  | 23.44%  | 9.80%  | (29.38)%  | 21.42%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.17% I | 1.03%  | .97%  | 1.22%  | 1.39%  | 1.38%  |
| Expenses net of fee waivers, if any  | 1.17% I<br>| 1.03%  | .97%  | 1.22%  | 1.39%  | 1.38%  |
| Expenses net of all reductions, if any  | 1.17% I | 1.03%  | .97%  | 1.21%  | 1.39%  | 1.38%  |
| Net investment income (loss)  | .80% I | 1.08%  | .90%  | .69%  | .26%  | .08%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $26342 | $21770 | $16922 | $15764 | $13004 | $20357 |
| Portfolio turnover rate J | 43% I<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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*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*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® Japan 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  | $21.53 | $17.21 | $14.44 | $13.19 | $20.76 | $17.40 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .15  | .11  | .06  | (.01)  | (.05)  |
| Net realized and unrealized gain (loss)  | 3.12  | 4.89  | 3.16  | 1.19  | (5.55)  | 3.69  |
| Total from investment operations  | 3.18  | 5.04  | 3.27  | 1.25  | (5.56)  | 3.64  |
| Distributions from net investment income  | (.78)  | (.35)  | (.04)  | -  | (.46)  | (.02)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.86) C | (.72)  | (.50)  | -  | (2.01)  | (.28) C |
| Net asset value, end of period  | $22.85 | $21.53 | $17.21 | $14.44 | $13.19 | $20.76 |
| **Total Return** D,E,F | 16.20% <br>| 30.47%  | 23.10%  | 9.48%  | (29.55)%  | 21.00%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.42% I | 1.28%  | 1.22%  | 1.51%  | 1.69%  | 1.70%  |
| Expenses net of fee waivers, if any  | 1.42% I<br>| 1.28%  | 1.22%  | 1.50%  | 1.69%  | 1.70%  |
| Expenses net of all reductions, if any  | 1.42% I | 1.28%  | 1.21%  | 1.49%  | 1.69%  | 1.70%  |
| Net investment income (loss)  | .55% I | .83%  | .65%  | .42%  | (.04)%  | (.23)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $4061 | $3633 | $2847 | $2354 | $2282 | $3919 |
| Portfolio turnover rate J | 43% I<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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*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*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® Japan 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  | $21.06 | $16.84 | $14.17 | $13.00 | $20.43 | $17.17 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | - C | .06  | .03  | - C | (.07)  | (.12)  |
| Net realized and unrealized gain (loss)  | 3.05  | 4.79  | 3.10  | 1.17  | (5.49)  | 3.63  |
| Total from investment operations  | 3.05  | 4.85  | 3.13  | 1.17  | (5.56)  | 3.51  |
| Distributions from net investment income  | (.68)  | (.26)  | -  | -  | (.33)  | (.01)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.75)  | (.63)  | (.46)  | -  | (1.87) D | (.25) D |
| Net asset value, end of period  | $22.36 | $21.06 | $16.84 | $14.17 | $13.00 | $20.43 |
| **Total Return** E,F,G | 15.85% <br>| 29.84%  | 22.54%  | 9.00%  | (29.85)%  | 20.54%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.92% J | 1.78%  | 1.71%  | 1.94%  | 2.11%  | 2.09%  |
| Expenses net of fee waivers, if any  | 1.92% J<br>| 1.78%  | 1.70%  | 1.93%  | 2.10%  | 2.09%  |
| Expenses net of all reductions, if any  | 1.92% J | 1.78%  | 1.70%  | 1.93%  | 2.10%  | 2.09%  |
| Net investment income (loss)  | .05% J | .33%  | .16%  | (.02)%  | (.46)%  | (.63)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2167 | $2024 | $1967 | $1779 | $2179 | $4778 |
| Portfolio turnover rate K | 43% J<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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

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*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*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® Japan 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  | $21.93 | $17.50 | $14.69 | $13.35 | $21.01 | $17.58 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .25  | .20  | .15  | .08  | .08  |
| Net realized and unrealized gain (loss)  | 3.16  | 4.98  | 3.21  | 1.19  | (5.60)  | 3.72  |
| Total from investment operations  | 3.28  | 5.23  | 3.41  | 1.34  | (5.52)  | 3.80  |
| Distributions from net investment income  | (.90)  | (.43)  | (.14)  | -  | (.59)  | (.11)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.97)  | (.80)  | (.60)  | -  | (2.14)  | (.37) C |
| Net asset value, end of period  | $23.24 | $21.93 | $17.50 | $14.69 | $13.35 | $21.01 |
| **Total Return** D,E | 16.48% <br>| 31.23%  | 23.78%  | 10.04%  | (29.16)%  | 21.75%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .87% H | .74%  | .69%  | .96%  | 1.13%  | 1.09%  |
| Expenses net of fee waivers, if any  | .87% H<br>| .74%  | .68%  | .95%  | 1.12%  | 1.09%  |
| Expenses net of all reductions, if any  | .87% H | .74%  | .68%  | .95%  | 1.12%  | 1.09%  |
| Net investment income (loss)  | 1.10% H | 1.37%  | 1.18%  | .96%  | .52%  | .37%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $312233 | $243060 | $176869 | $149990 | $113015 | $167954 |
| Portfolio turnover rate I | 43% H<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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 Advisor® Japan 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  | $22.22 | $17.64 | $14.81 | $13.45 | $20.97 | $17.56 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .25  | .19  | .15  | .09  | .09  |
| Net realized and unrealized gain (loss)  | 3.21  | 5.04  | 3.24  | 1.21  | (5.65)  | 3.71  |
| Total from investment operations  | 3.32  | 5.29  | 3.43  | 1.36  | (5.56)  | 3.80  |
| Distributions from net investment income  | (.89)  | (.35)  | (.14)  | -  | (.41)  | (.14)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.96)  | (.71) C | (.60)  | -  | (1.96)  | (.39)  |
| Net asset value, end of period  | $23.58 | $22.22 | $17.64 | $14.81 | $13.45 | $20.97 |
| **Total Return** D,E | 16.45% <br>| 31.20%  | 23.73%  | 10.11%  | (29.15)%  | 21.80%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .91% H | .78%  | .72%  | .94%  | 1.09%  | 1.04%  |
| Expenses net of fee waivers, if any  | .91% H<br>| .78%  | .72%  | .94%  | 1.09%  | 1.04%  |
| Expenses net of all reductions, if any  | .91% H | .78%  | .72%  | .94%  | 1.09%  | 1.04%  |
| Net investment income (loss)  | 1.05% H | 1.33%  | 1.15%  | .97%  | .56%  | .43%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $47173 | $24853 | $18555 | $32712 | $33320 | $48887 |
| Portfolio turnover rate I | 43% H<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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 Advisor® Japan 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  | $21.88 | $17.47 | $14.68 | $13.31 | $20.98 | $17.56 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .27  | .22  | .17  | .11  | .10  |
| Net realized and unrealized gain (loss)  | 3.15  | 4.97  | 3.19  | 1.20  | (5.59)  | 3.72  |
| Total from investment operations  | 3.28  | 5.24  | 3.41  | 1.37  | (5.48)  | 3.82  |
| Distributions from net investment income  | (.91)  | (.46)  | (.16)  | -  | (.64)  | (.15)  |
| Distributions from net realized gain  | (1.07)  | (.37)  | (.46)  | -  | (1.55)  | (.25)  |
| Total distributions  | (1.98)  | (.83)  | (.62)  | -  | (2.19)  | (.40)  |
| Net asset value, end of period  | $23.18 | $21.88 | $17.47 | $14.68 | $13.31 | $20.98 |
| **Total Return** C,D | 16.54% <br>| 31.38%  | 23.87%  | 10.29%  | (29.07)%  | 21.93%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .78% G | .64%  | .57%  | .80%  | .96%  | .96%  |
| Expenses net of fee waivers, if any  | .78% G<br>| .64%  | .56%  | .79%  | .96%  | .96%  |
| Expenses net of all reductions, if any  | .78% G | .64%  | .56%  | .79%  | .96%  | .96%  |
| Net investment income (loss)  | 1.18% G | 1.47%  | 1.30%  | 1.12%  | .69%  | .51%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $645140 | $622864 | $475826 | $429659 | $408434 | $585487 |
| Portfolio turnover rate H | 43% G<br>| 39%  | 21%  | 25%  | 26%  | 31%  |

---

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 Japan 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, Japan, 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.

**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) 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** | $420909771 |
| **Gross unrealized depreciation** | <u>(48777833)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$372131938</u> |
| **Tax cost** | <u>$698531133</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 Japan Fund** | 198358121 | 225656650 |

---

**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.

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| | |
|:---|:---|
|  | **Maximum Management Fee Rate %** |
| **Class A** | .88 |
| **Class M** | .88 |
| **Class C** | .86 |
| **Japan** | .87 |
| **Class I** | .87 |
| **Class Z** | .72 |

---

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** | .86 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Japan** | .81 |
| **Class I** | .85 |
| **Class Z** | .72 |

---

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 Japan Fund** | TOPIX |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of . 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 ±.20% 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 .03%.

**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% | 29271 | 1588 |
| **Class M** | .25% | .25% | 9356 | 160 |
| **Class C** | .75% | .25% | <u>10089</u> | <u>1139</u> |
|  |  |  | <u>48716</u> | <u>2887</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** | 3291 |
| **Class M** | 205 |
| **Class C**A | <u>34</u> |
|  | <u>3530</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 Japan Fund** | 25 |

---

**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 Japan Fund** | Borrower | 38676800 | 3.91% | 41966 |

---

**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 Japan Fund** | - | 2198405 | 1760533 |

---

**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 Japan Fund** | 585 |

---

**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 Japan Fund** | 47272 | - | - |

---

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 Japan Fund** | 748928 |

---

**8. Bank Borrowings.**

The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. Any open loans, including accrued interest, at period end are presented under the caption "Notes payable" in the Statement of Assets and Liabilities, if applicable. Activity in this program during the period for which loans were outstanding was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)** |
| **Fidelity Japan Fund** | 2594 | 4.14% | 597 |

---

**9. 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 $98.

**10. 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 Japan Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1897069 | $715903 |
| Class M | 308994 | 121784 |
| Class C | 165100 | 74834 |
| Japan | 21976538 | 7875903 |
| Class I | 2189997 | 751595 |
| Class Z | <u>55676615</u> | <u>22581472</u> |
| Total  | <u>$82214313</u> | <u>$32121491</u> |

---

**11. 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 Japan Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 198126 | 141455 | $4312674 | $2649565 |
| Reinvestment of distributions  | 92919 | 40646 | 1830506 | 684884 |
| Shares redeemed | <u>(149637)</u> | <u>(156014)</u> | <u>(3236348)</u> | <u>(2798686)</u> |
| Net increase (decrease) | <u>141408</u> | <u>26087</u> | <u>$2906832</u> | <u>$535763</u> |
| **Class M** |  |  |  |  |
| Shares sold | 7988 | 14193 | $170163 | $257679 |
| Reinvestment of distributions  | 15778 | 7270 | 308615 | 121622 |
| Shares redeemed | <u>(14749)</u> | <u>(18161)</u> | <u>(314809)</u> | <u>(329888)</u> |
| Net increase (decrease) | <u>9017</u> | <u>3302</u> | <u>$163969</u> | <u>$49413</u> |
| **Class C** |  |  |  |  |
| Shares sold | 11633 | 19004 | $244904 | $325395 |
| Reinvestment of distributions  | 8608 | 4552 | 165100 | 74834 |
| Shares redeemed | <u>(19432)</u> | <u>(44301)</u> | <u>(401445)</u> | <u>(745737)</u> |
| Net increase (decrease) | <u>809</u> | <u>(20745)</u> | <u>$8559</u> | <u>$(345508)</u> |
| **Japan** |  |  |  |  |
| Shares sold | 3869775 | 3313122 | $84676115 | $61784873 |
| Reinvestment of distributions  | 1019333 | 424185 | 20233754 | 7194179 |
| Shares redeemed | <u>(2538194)</u> | <u>(2759446)</u> | <u>(54537975)</u> | <u>(50380038)</u> |
| Net increase (decrease) | <u>2350914</u> | <u>977861</u> | <u>$50371894</u> | <u>$18599014</u> |
| **Class I** |  |  |  |  |
| Shares sold | 980495 | 327165 | $20559276 | $6326650 |
| Reinvestment of distributions  | 107482 | 42999 | 2164693 | 739145 |
| Shares redeemed | <u>(205958)</u> | <u>(303191)</u> | <u>(4351991)</u> | <u>(5409044)</u> |
| Net increase (decrease) | <u>882019</u> | <u>66973</u> | <u>$18371978</u> | <u>$1656751</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 304233 | 753129 | $6455789 | $13656683 |
| Reinvestment of distributions  | 174420 | 841043 | 3451771 | 14222031 |
| Shares redeemed | <u>(1114657)</u> | <u>(355498)</u> | <u>(24813650)</u> | <u>(6372360)</u> |
| Net increase (decrease) | <u>(636004)</u> | <u>1238674</u> | <u>$(14906090)</u> | <u>$21506354</u> |

---

**12. 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.

---

| | | |
|:---|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** | **Strategic Advisers International Fund** |
| **Fidelity Japan Fund** | 22% | 35% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| **Fidelity Japan Fund** | 57 |

---

**13. 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.

**Fidelity® Japan Smaller Companies Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.1%** | &nbsp;&nbsp;**Common Stocks - 97.1%** | &nbsp;&nbsp;**Common Stocks - 97.1%** |
|  | Shares | Value ($)<br>|
| JAPAN - 97.1%  |  |  |
| Communication Services - 0.5% |  |  |
| Entertainment - 0.5% |  |  |
| Capcom Co Ltd  | 101200 | 2136698 |
| Consumer Discretionary - 11.2% |  |  |
| Automobile Components - 1.8% |  |  |
| Niterra Co Ltd  | 87700 | 4740670 |
| Toyo Tire Corp  | 124900 | 3062313 |
|  |  | 7802983 |
| Automobiles - 1.0% |  |  |
| Mazda Motor Corp  | 637300 | 4102251 |
| Broadline Retail - 1.0% |  |  |
| Ryohin Keikaku Co Ltd  | 188100 | 4356925 |
| Distributors - 0.8% |  |  |
| Central Automotive Products Ltd  | 299600 | 3454620 |
| Hotels, Restaurants & Leisure - 0.5% |  |  |
| Food & Life Cos Ltd  | 38700 | 2251219 |
| Household Durables - 2.0% |  |  |
| Panasonic Holdings Corp  | 416900 | 8528027 |
| Specialty Retail - 1.9% |  |  |
| Sanrio Co Ltd  | 653000 | 3805431 |
| USS Co Ltd  | 388900 | 4200283 |
|  |  | 8005714 |
| Textiles, Apparel & Luxury Goods - 2.2% |  |  |
| Asics Corp  | 226200 | 6423544 |
| Fujibo Holdings Inc  | 108300 | 2730481 |
|  |  | 9154025 |
| TOTAL CONSUMER DISCRETIONARY |  | 47655764 |
| Consumer Staples - 6.8% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Kato Sangyo Co Ltd  | 90800 | 3549865 |
| Food Products - 5.0% |  |  |
| Ajinomoto Co Inc  | 240900 | 7742627 |
| Kewpie Corp  | 260350 | 6908098 |
| Kotobuki Spirits Co Ltd (a) | 495400 | 6340334 |
|  |  | 20991059 |
| Household Products - 1.0% |  |  |
| Transaction Co Ltd (a) | 600800 | 4327801 |
| TOTAL CONSUMER STAPLES |  | 28868725 |
| Energy - 2.4% |  |  |
| Oil, Gas & Consumable Fuels - 2.4% |  |  |
| Inpex Corp  | 275600 | 7184942 |
| Itochu Enex Co Ltd  | 243800 | 2966622 |
| TOTAL ENERGY |  | 10151564 |
| Financials - 13.5% |  |  |
| Banks - 6.8% |  |  |
| 77 Bank Ltd/The  | 323500 | 6227695 |
| Hokuhoku Financial Group Inc  | 356300 | 13583210 |
| Kyoto Financial Group Inc (a) | 103100 | 2849802 |
| North Pacific Bank Ltd (a) | 969800 | 6166323 |
|  |  | 28827030 |
| Financial Services - 1.8% |  |  |
| ORIX Corp  | 222600 | 7491935 |
| Insurance - 4.9% |  |  |
| LIFENET INSURANCE CO (b) | 154600 | 1903605 |
| Sompo Holdings Inc  | 272600 | 10144923 |
| T&D Holdings Inc  | 192900 | 4673584 |
| Tokio Marine Holdings Inc  | 88600 | 4057594 |
|  |  | 20779706 |
| TOTAL FINANCIALS |  | 57098671 |
| Health Care - 2.4% |  |  |
| Health Care Providers & Services - 0.7% |  |  |
| As One Corp  | 227100 | 3149211 |
| Pharmaceuticals - 1.7% |  |  |
| Santen Pharmaceutical Co Ltd  | 303400 | 3126682 |
| Takeda Pharmaceutical Co Ltd  | 121500 | 4062085 |
|  |  | 7188767 |
| TOTAL HEALTH CARE |  | 10337978 |
| Industrials - 30.3% |  |  |
| Building Products - 2.3% |  |  |
| Nichias Corp  | 359700 | 7136877 |
| Nitto Boseki Co Ltd  | 14600 | 2682472 |
|  |  | 9819349 |
| Commercial Services & Supplies - 0.4% |  |  |
| Daiei Kankyo Co Ltd  | 78700 | 1890521 |
| Construction & Engineering - 4.7% |  |  |
| Fukuda Corp  | 46800 | 2507891 |
| Hazama Ando Corp  | 520800 | 6314085 |
| Hibiya Engineering Ltd  | 313000 | 6012544 |
| Meisei Industrial Co Ltd  | 208400 | 2458274 |
| Yurtec Corp  | 171600 | 2748590 |
|  |  | 20041384 |
| Electrical Equipment - 3.3% |  |  |
| Furukawa Electric Co Ltd  | 19800 | 5377420 |
| SWCC Corp  | 69500 | 7113792 |
| Terasaki Electric Co Ltd (a) | 65100 | 1670953 |
|  |  | 14162165 |
| Ground Transportation - 1.4% |  |  |
| East Japan Railway Co  | 273900 | 5978942 |
| Machinery - 9.7% |  |  |
| Daifuku Co Ltd (a) | 138900 | 6072939 |
| Ebara Corp  | 268200 | 9174562 |
| IHI Corp  | 258100 | 4714343 |
| Japan Steel Works Ltd/The  | 45300 | 2768313 |
| Kawasaki Heavy Industries Ltd  | 273600 | 5624782 |
| Namura Shipbuilding Co Ltd  | 108200 | 2834101 |
| Nippon Dry-Chemical Co Ltd (a) | 178300 | 3380591 |
| Takeuchi Manufacturing Co Ltd  | 136000 | 6130725 |
|  |  | 40700356 |
| Professional Services - 3.2% |  |  |
| BayCurrent Inc  | 61100 | 1967668 |
| Funai Soken Holdings Inc  | 285360 | 2035915 |
| Visional Inc (b) | 205200 | 9689925 |
|  |  | 13693508 |
| Trading Companies & Distributors - 4.3% |  |  |
| Inaba Denki Sangyo Co Ltd  | 232800 | 3927297 |
| Mitani Corp  | 298600 | 4950945 |
| Senshu Electric Co Ltd (a) | 188300 | 7340382 |
| Totech Corp (a) | 89500 | 2185957 |
|  |  | 18404581 |
| Transportation Infrastructure - 1.0% |  |  |
| Kamigumi Co Ltd  | 124000 | 4098245 |
| TOTAL INDUSTRIALS |  | 128789051 |
| Information Technology - 14.1% |  |  |
| Electronic Equipment, Instruments & Components - 3.2% |  |  |
| Azbil Corp  | 462200 | 4113468 |
| Ibiden Co Ltd (a) | 73200 | 6260807 |
| Maruwa Co Ltd/Aichi  | 6800 | 3212367 |
|  |  | 13586642 |
| IT Services - 3.1% |  |  |
| Ad-sol Nissin Corp  | 143700 | 1359969 |
| Argo Graphics Inc  | 523700 | 4523796 |
| JFE Systems Inc  | 75400 | 917599 |
| NSD Co Ltd  | 205200 | 3522557 |
| TechMatrix Corp  | 229100 | 2659865 |
|  |  | 12983786 |
| Semiconductors & Semiconductor Equipment - 7.3% |  |  |
| Kioxia Holdings Corp (b) | 67400 | 16308014 |
| Renesas Electronics Corp  | 531000 | 10738226 |
| Shibaura Mechatronics Corp  | 129000 | 4007782 |
|  |  | 31054022 |
| Software - 0.5% |  |  |
| Money Forward Inc (a)(b) | 69450 | 2126177 |
| TOTAL INFORMATION TECHNOLOGY |  | 59750627 |
| Materials - 11.8% |  |  |
| Chemicals - 8.2% |  |  |
| C Uyemura & Co Ltd  | 39600 | 5928545 |
| Fujimi Inc (a) | 118600 | 2453072 |
| NOF Corp  | 174900 | 3571981 |
| Osaka Soda Co Ltd  | 412400 | 4937718 |
| Resonac Holdings Corp (a) | 80000 | 7321131 |
| Tokyo Ohka Kogyo Co Ltd  | 95300 | 5602669 |
| Toyo Gosei Co Ltd  | 49300 | 4810608 |
|  |  | 34625724 |
| Construction Materials - 1.0% |  |  |
| Maeda Kosen Co Ltd  | 380000 | 4434935 |
| Metals & Mining - 2.6% |  |  |
| Sumitomo Metal Mining Co Ltd  | 64800 | 3984093 |
| Yamato Kogyo Co Ltd  | 92600 | 7068322 |
|  |  | 11052415 |
| TOTAL MATERIALS |  | 50113074 |
| Real Estate - 2.4% |  |  |
| Real Estate Management & Development - 2.4% |  |  |
| Arealink Co Ltd  | 307400 | 1978423 |
| Katitas Co Ltd  | 168400 | 3361702 |
| Starts Corp Inc  | 119300 | 3642335 |
| Sumitomo Realty & Development Co Ltd  | 35321 | 1094937 |
| TOTAL REAL ESTATE |  | 10077397 |
| Utilities - 1.7% |  |  |
| Electric Utilities - 1.0% |  |  |
| Shikoku Electric Power Co Inc  | 424800 | 4229380 |
| Gas Utilities - 0.7% |  |  |
| Hokkaido Gas Co Ltd  | 339700 | 1794379 |
| Nippon Gas Co Ltd  | 60900 | 1045447 |
|  |  | 2839826 |
| TOTAL UTILITIES |  | 7069206 |
| TOTAL JAPAN |  | 412048755 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $267,806,614) |  | <br> **412048755** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 (c) | 3.69 | 560977 | 561089 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 22318387 | 22320620 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $22,881,709) |  |  | **22881709** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 102.5%**<br> (Cost $290,688,323)<br>| <br>**434930464** |
| **NET OTHER ASSETS (LIABILITIES) - (2.5)%**  | **(10475951)** |
| **NET ASSETS - 100.0%** | **424454513** |

---

**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 | 194071 | 9952392 | 9585333 | 7125 | (41) | - | 561089 | 560977 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 16332834 | 85094863 | 79107033 | 59533 | (44) | - | 22320620 | 22318387 | 0.1% |
| Total | 16526905 | 95047255 | 88692366 | 66658 | (85) | - | 22881709 |  |  |

---

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 | 2136698 | - | 2136698 | - |
| Consumer Discretionary | 47655764 | - | 47655764 | - |
| Consumer Staples | 28868725 | - | 28868725 | - |
| Energy | 10151564 | - | 10151564 | - |
| Financials | 57098671 | - | 57098671 | - |
| Health Care | 10337978 | - | 10337978 | - |
| Industrials | 128789051 | - | 128789051 | - |
| Information Technology | 59750627 | - | 59750627 | - |
| Materials | 50113074 | - | 50113074 | - |
| Real Estate | 10077397 | - | 10077397 | - |
| Utilities | 7069206 | - | 7069206 | - |
|  **Money Market Funds** | 22881709 | 22881709 | - | - |
| **Total Investments in Securities:** | 434930464 | 22881709 | 412048755 | - |

---

**Fidelity® Japan Smaller Companies 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 $21,835,326) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $267,806,614) | $412048755 |  |
| Fidelity Central Funds (cost $22,881,709) | 22881709 |  |
| Total Investment in Securities (cost $290,688,323) |  | $434930464 |
| Cash |  | 9234 |
| Foreign currency held at value (cost $9,796,206) |  | 9956642 |
| Receivable for investments sold |  | 1176210 |
| Receivable for fund shares sold |  | 133962 |
| Dividends receivable |  | 3629085 |
| Distributions receivable from Fidelity Central Funds |  | 19110 |
| Prepaid expenses |  | 121 |
| **Total assets** |  | 449854828 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $2665230 |  |
| Payable for fund shares redeemed | 101903 |  |
| Accrued management fee | 278270 |  |
| Other payables and accrued expenses | 34249 |  |
| Collateral on securities loaned | 22320663 |  |
| **Total liabilities** |  | 25400315 |
| **Net Assets**  |  | $424454513 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $246620300 |
| Total accumulated earnings (loss) |  | 177834213 |
| **Net Assets** |  | $424454513 |
| **Net Asset Value**, offering price and redemption price per share ($424,454,513 ÷ 22,062,690 shares) |  | $19.24 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $4716608 |
| Income from Fidelity Central Funds (including $59,533 from security lending)  |  | 66658 |
| Security lending |  | 1299 |
| Income before foreign taxes withheld |  | $4784565 |
| Less foreign taxes withheld |  | (472486) |
| **Total income** |  | 4312079 |
| **Expenses** |  |  |
| Management fee | $1622106 |  |
| Custodian fees and expenses | 13533 |  |
| Independent trustees' fees and expenses | 644 |  |
| Registration fees | 12207 |  |
| Audit fees | 29526 |  |
| Legal | 209 |  |
| Interest | 23145 |  |
| Miscellaneous | 618 |  |
| **Total expenses** |  | 1701988 |
| **Net Investment income (loss)** |  | 2610091 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 45105873 |  |
| Fidelity Central Funds | (85) |  |
| Foreign currency transactions | (388642) |  |
| Total net realized gain (loss) |  | 44717146 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 16165645 |  |
| Assets and liabilities in foreign currencies | 305642 |  |
| Total change in net unrealized appreciation (depreciation) |  | 16471287 |
| **Net gain (loss)** |  | 61188433 |
| **Net increase (decrease) in net assets resulting from operations** |  | $63798524 |

---

---

| | | |
|:---|:---|:---|
| **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) | $2610091 | $5420667 |
| &nbsp;&nbsp;Net realized gain (loss) | 44717146<br>| 62587939<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 16471287 | 25130080<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 63798524<br>| 93138686<br>|
| Distributions to shareholders | (60519067)<br>| (17881080)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 12546543 | 26148250 |
| Reinvestment of distributions | 30945698<br>| 17214798<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (17808931) | (133030231) |
| **Net increase (decrease) in net assets resulting from share transactions** | 25683310<br>| (89667183)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 28962767<br>| (14409577)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 395491746 | 409901323<br>|
| &nbsp;&nbsp;End of period | $424454513 | $395491746 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 680123 | 1481442 |
| Issued in reinvestment of distributions | 1847504<br>| 1075253<br>|
| &nbsp;&nbsp;Redeemed | (984032) | (7363553) |
| &nbsp;&nbsp;Net increase (decrease) | 1543595 | (4806858) |

---

**Financial Highlights** 

**Fidelity® Japan Smaller Companies 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  | $19.27 | $16.19 | $13.68 | $12.47 | $17.92 | $16.64 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .22  | .19  | .18  | .19  | .20  |
| Net realized and unrealized gain (loss)  | 2.81  | 3.57  | 2.75  | 1.04  | (3.75)  | 1.36  |
| Total from investment operations  | 2.93  | 3.79  | 2.94  | 1.22  | (3.56)  | 1.56  |
| Distributions from net investment income  | (.67)  | (.36)  | (.33)  | (.01)  | (.51)  | (.19)  |
| Distributions from net realized gain  | (2.29)  | (.34)  | (.10)  | -  | (1.38)  | (.10)  |
| Total distributions  | (2.96)  | (.71) C | (.43)  | (.01)  | (1.89)  | (.28) C |
| Net asset value, end of period  | $19.24 | $19.27 | $16.19 | $13.68 | $12.47 | $17.92 |
| **Total Return** D,E | 17.46% <br>| 24.29%  | 21.84%  | 9.76%  | (21.95)%  | 9.44%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .85% H | .85%  | .88%  | .92%  | .91%  | .91%  |
| Expenses net of fee waivers, if any  | .85% H<br>| .85%  | .87%  | .91%  | .91%  | .91%  |
| Expenses net of all reductions, if any  | .85% H | .85%  | .87%  | .91%  | .91%  | .91%  |
| Net investment income (loss)  | 1.30% H | 1.28%  | 1.21%  | 1.26%  | 1.33%  | 1.13%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $424455 | $395492 | $409901 | $435870 | $364425 | $501214 |
| Portfolio turnover rate I | 58% H<br>| 42%  | 21%  | 36%  | 38%  | 23%  |

---

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.* 

**Notes to Financial Statements (Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Japan Smaller Companies Fund (the Fund) is a 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. 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 dividends. 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) 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** | $142133059 |
| **Gross unrealized depreciation** | <u>(8048084)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$134084975</u> |
| **Tax cost** | <u>$300845489</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 Japan Smaller Companies Fund** | 114028285 | 154206213 |

---

**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 Japan Smaller Companies Fund** | .84 |

---

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 Japan Smaller Companies Fund** | .81 |

---

**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 Japan Smaller Companies Fund**  | Borrower | 30554000 | 3.90% | 23145 |

---

**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 Japan Smaller Companies Fund** | 850900 | 1682224 | 944471 |

---

**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 Japan Smaller Companies Fund** | 254 |

---

**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 Japan Smaller Companies Fund** | 6614 | - | - |

---

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 Japan Smaller Companies Fund** | 636624 |

---

**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, 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.

---

| | | |
|:---|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** | **Strategic Advisers International Fund** |
| **Fidelity Japan Smaller Companies Fund** | 14% | 27% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| **Fidelity Japan Smaller Companies Fund** | 52 |

---

**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.

**Fidelity® Nordic Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.9%** | &nbsp;&nbsp;**Common Stocks - 97.9%** | &nbsp;&nbsp;**Common Stocks - 97.9%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| DroneShield Ltd (a)(c) | 425227 | 1108482 |
| BRAZIL - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| ASTA Energy Solutions AG  | 28200 | 1833570 |
| CHINA - 0.0%  |  |  |
| Industrials - 0.0% |  |  |
| Electrical Equipment - 0.0% |  |  |
| Sigenergy Technology Co Ltd H Shares  | 1400 | 102494 |
| DENMARK - 21.3%  |  |  |
| Financials - 4.0% |  |  |
| Banks - 4.0% |  |  |
| Danske Bank A/S  | 280300 | 14408674 |
| Health Care - 7.3% |  |  |
| Biotechnology - 0.3% |  |  |
| Genmab A/S (a) | 4700 | 1244450 |
| Health Care Equipment & Supplies - 0.1% |  |  |
| Coloplast AS Series B  | 5100 | 315045 |
| Pharmaceuticals - 6.9% |  |  |
| ALK-Abello A/S Series B  | 51600 | 1932017 |
| Novo Nordisk A/S Series B  | 529900 | 22539807 |
|  |  | 24471824 |
| TOTAL HEALTH CARE |  | 26031319 |
| Industrials - 8.7% |  |  |
| Air Freight & Logistics - 4.0% |  |  |
| DSV A/S  | 58300 | 14270208 |
| Electrical Equipment - 4.7% |  |  |
| NKT A/S (a) | 32300 | 4760929 |
| Vestas Wind Systems A/S  | 387700 | 11921545 |
|  |  | 16682474 |
| TOTAL INDUSTRIALS |  | 30952682 |
| Materials - 1.3% |  |  |
| Chemicals - 1.3% |  |  |
| Novonesis Novozymes B Series B  | 76100 | 4676023 |
| TOTAL DENMARK |  | 76068698 |
| FINLAND - 13.9%  |  |  |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Neste Oyj  | 96100 | 3312577 |
| Financials - 4.7% |  |  |
| Banks - 4.7% |  |  |
| Nordea Bank Abp (Sweden)  | 896844 | 16717322 |
| Industrials - 0.8% |  |  |
| Machinery - 0.8% |  |  |
| Wartsila OYJ Abp  | 67400 | 2827968 |
| Information Technology - 4.6% |  |  |
| Communications Equipment - 4.6% |  |  |
| Nokia Oyj  | 1332400 | 16583794 |
| Materials - 1.2% |  |  |
| Paper & Forest Products - 1.2% |  |  |
| UPM-Kymmene Oyj  | 146100 | 4367348 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Cityvarasto Oyj (d) | 80500 | 1506937 |
| Utilities - 1.3% |  |  |
| Electric Utilities - 1.3% |  |  |
| Fortum Oyj  | 178300 | 4486573 |
| TOTAL FINLAND |  | 49802519 |
| FRANCE - 1.2%  |  |  |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| Abivax SA ADR (a) | 12200 | 1432036 |
| Industrials - 0.8% |  |  |
| Electrical Equipment - 0.8% |  |  |
| Nexans SA  | 15900 | 2950310 |
| TOTAL FRANCE |  | 4382346 |
| GERMANY - 2.3%  |  |  |
| Industrials - 2.3% |  |  |
| Construction & Engineering - 0.7% |  |  |
| HOCHTIEF AG  | 4600 | 2468327 |
| Electrical Equipment - 1.6% |  |  |
| Nordex SE (a) | 25100 | 1429332 |
| Siemens Energy AG  | 20400 | 4323529 |
|  |  | 5752861 |
| TOTAL GERMANY |  | 8221188 |
| NORWAY - 12.1%  |  |  |
| Consumer Staples - 1.4% |  |  |
| Food Products - 1.4% |  |  |
| Mowi ASA  | 219800 | 4873004 |
| Energy - 2.6% |  |  |
| Energy Equipment & Services - 0.2% |  |  |
| Odfjell Drilling Ltd  | 59700 | 640515 |
| Oil, Gas & Consumable Fuels - 2.4% |  |  |
| Equinor ASA  | 214400 | 8725490 |
| TOTAL ENERGY |  | 9366005 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| DNB Bank ASA  | 262000 | 7935195 |
| Industrials - 2.0% |  |  |
| Aerospace & Defense - 1.7% |  |  |
| Kongsberg Gruppen ASA  | 180700 | 6046284 |
| Machinery - 0.3% |  |  |
| Kongsberg Maritime AS  | 180700 | 1184291 |
| TOTAL INDUSTRIALS |  | 7230575 |
| Information Technology - 2.5% |  |  |
| Communications Equipment - 0.9% |  |  |
| Smartoptics Group ASA  | 545700 | 3086412 |
| Electronic Equipment, Instruments & Components - 0.5% |  |  |
| General Oceans AS  | 64100 | 212163 |
| Norbit ASA (d) | 69500 | 1707362 |
|  |  | 1919525 |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| Nordic Semiconductor ASA (a) | 197100 | 4020843 |
| TOTAL INFORMATION TECHNOLOGY |  | 9026780 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Norsk Hydro ASA  | 442900 | 4888072 |
| TOTAL NORWAY |  | 43319631 |
| SWEDEN - 42.0%  |  |  |
| Communication Services - 0.3% |  |  |
| Wireless Telecommunication Services - 0.3% |  |  |
| Tele2 AB B Shares  | 52700 | 1081370 |
| Consumer Discretionary - 1.5% |  |  |
| Specialty Retail - 1.5% |  |  |
| Haypp Group AB (a) | 415698 | 5483958 |
| Financials - 9.1% |  |  |
| Banks - 3.1% |  |  |
| Swedbank AB A1 Shares  | 311500 | 10921183 |
| Capital Markets - 0.8% |  |  |
| Nordnet AB  | 93100 | 3055352 |
| Financial Services - 5.2% |  |  |
| Investor AB B Shares  | 464500 | 18715334 |
| TOTAL FINANCIALS |  | 32691869 |
| Health Care - 3.0% |  |  |
| Biotechnology - 1.3% |  |  |
| Swedish Orphan Biovitrum AB B Shares (a) | 99800 | 4624239 |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Elekta AB B Shares  | 145200 | 837442 |
| Health Care Providers & Services - 0.4% |  |  |
| Ambea AB (b)(c) | 96500 | 1464315 |
| Life Sciences Tools & Services - 0.7% |  |  |
| AddLife AB B Shares  | 118200 | 1829442 |
| Medcap AB (a) | 12900 | 670377 |
|  |  | 2499819 |
| Pharmaceuticals - 0.4% |  |  |
| Camurus AB (a) | 22800 | 1311288 |
| TOTAL HEALTH CARE |  | 10737103 |
| Industrials - 23.2% |  |  |
| Aerospace & Defense - 3.0% |  |  |
| Mildef Group AB (d) | 76500 | 1434258 |
| Saab AB B Shares  | 153500 | 9317942 |
|  |  | 10752200 |
| Building Products - 3.3% |  |  |
| Assa Abloy AB B Shares  | 190200 | 7239044 |
| Munters Group AB (b)(c) | 209300 | 4536127 |
|  |  | 11775171 |
| Machinery - 16.9% |  |  |
| Atlas Copco AB B Shares  | 1193700 | 20020519 |
| Beijer Alma AB B Shares  | 106300 | 3333119 |
| Epiroc AB A Shares  | 305400 | 8816718 |
| Indutrade AB  | 127500 | 2723240 |
| Sandvik AB  | 371700 | 15423170 |
| Volvo AB B Shares  | 287500 | 10021319 |
|  |  | 60338085 |
| TOTAL INDUSTRIALS |  | 82865456 |
| Information Technology - 4.0% |  |  |
| Electronic Equipment, Instruments & Components - 3.0% |  |  |
| Hexagon AB B Shares  | 170400 | 1831577 |
| Lagercrantz Group AB B Shares  | 296253 | 7739431 |
| Ncab Group Ab (a) | 146600 | 1144823 |
|  |  | 10715831 |
| Semiconductors & Semiconductor Equipment - 0.3% |  |  |
| Sivers Semiconductors AB (a)(d) | 271718 | 1118332 |
| Technology Hardware, Storage & Peripherals - 0.7% |  |  |
| Dynavox Group AB (a) | 274300 | 2434690 |
| TOTAL INFORMATION TECHNOLOGY |  | 14268853 |
| Materials - 0.7% |  |  |
| Metals & Mining - 0.4% |  |  |
| Boliden AB  | 25900 | 1346792 |
| Paper & Forest Products - 0.3% |  |  |
| Svenska Cellulosa AB SCA B Shares  | 110300 | 1254393 |
| TOTAL MATERIALS |  | 2601185 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Swedish Logistic Property AB B Shares (a) | 142304 | 583380 |
| TOTAL SWEDEN |  | 150313174 |
| TAIWAN - 2.2%  |  |  |
| Information Technology - 2.2% |  |  |
| Semiconductors & Semiconductor Equipment - 2.2% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 112000 | 7799990 |
| UNITED KINGDOM - 2.1%  |  |  |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| British American Tobacco PLC  | 87115 | 5130623 |
| Financials - 0.5% |  |  |
| Financial Services - 0.5% |  |  |
| Enity Holding AB (a)(d) | 201100 | 1633587 |
| Industrials - 0.2% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| Verisure PLC (a) | 52600 | 650059 |
| TOTAL UNITED KINGDOM |  | 7414269 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $233,163,021) |  | <br> **350366361** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.0%** | &nbsp;&nbsp;**Money Market Funds - 1.0%** | &nbsp;&nbsp;**Money Market Funds - 1.0%** | &nbsp;&nbsp;**Money Market Funds - 1.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e) | 3.69 | 1620651 | 1620975 |
| Fidelity Securities Lending Cash Central Fund (e)(f) | 3.69 | 1939558 | 1939752 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $3,560,727) |  |  | **3560727** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 98.9%**<br> (Cost $236,723,748)<br>| <br>**353927088** |
| **NET OTHER ASSETS (LIABILITIES) - 1.1%**  | **3829171** |
| **NET ASSETS - 100.0%** | **357756259** |

---

**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 $6,000,442 or 1.7% 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 $7,108,924 or 2.0% of net assets.

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

(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 | 631975 | 43045045 | 42056113 | 51839 | 68 | - | 1620975 | 1620651 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 1790526 | 12190215 | 12040842 | 28304 | (147) | - | 1939752 | 1939558 | 0.0% |
| Total | 2422501 | 55235260 | 54096955 | 80143 | (79) | - | 3560727 |  |  |

---

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 | 1081370 | 1081370 | - | - |
| Consumer Discretionary | 5483958 | 5483958 | - | - |
| Consumer Staples | 10003627 | 4873004 | 5130623 | - |
| Energy | 12678582 | 3953092 | 8725490 | - |
| Financials | 73386647 | 73386647 | - | - |
| Health Care | 38200458 | 14101156 | 24099302 | - |
| Industrials | 138742784 | 97454284 | 41288500 | - |
| Information Technology | 47679417 | 39879427 | 7799990 | - |
| Materials | 16532628 | 11856605 | 4676023 | - |
| Real Estate | 2090317 | 2090317 | - | - |
| Utilities | 4486573 | 4486573 | - | - |
|  **Money Market Funds** | 3560727 | 3560727 | - | - |
| **Total Investments in Securities:** | 353927088 | 262207160 | 91719928 | - |

---

**Fidelity® Nordic 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 $2,233,750) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $233,163,021) | $350366361 |  |
| Fidelity Central Funds (cost $3,560,727) | 3560727 |  |
| Total Investment in Securities (cost $236,723,748) |  | $353927088 |
| Cash |  | 381531 |
| Foreign currency held at value (cost $53) |  | 53 |
| Receivable for investments sold |  | 337712 |
| Receivable for fund shares sold |  | 19734 |
| Dividends receivable |  | 822567 |
| Reclaims receivable |  | 5918018 |
| Distributions receivable from Fidelity Central Funds |  | 17945 |
| Prepaid expenses |  | 91 |
| **Total assets** |  | 361424739 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $178378 |  |
| Payable for fund shares redeemed | 146807 |  |
| Accrued management fee | 238032 |  |
| Payable for IRS closing agreement payments and fees | 1130566 |  |
| Other payables and accrued expenses | 34798 |  |
| Collateral on securities loaned | 1939899 |  |
| **Total liabilities** |  | 3668480 |
| **Net Assets**  |  | $357756259 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $235640729 |
| Total accumulated earnings (loss) |  | 122115530 |
| **Net Assets** |  | $357756259 |
| **Net Asset Value**, offering price and redemption price per share ($357,756,259 ÷ 4,969,863 shares) |  | $71.99 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $6914843 |
| Foreign Tax Reclaims |  | 2385882 |
| Income from Fidelity Central Funds (including $28,304 from security lending)  |  | 80143 |
| Security lending |  | 534 |
| Less IRS closing agreement payments and fees |  | (305780) |
| Income before foreign taxes withheld |  | $9075622 |
| Less foreign taxes withheld |  | (1230048) |
| **Total income** |  | 7845574 |
| **Expenses** |  |  |
| Management fee | $1383465 |  |
| Custodian fees and expenses | 22640 |  |
| Independent trustees' fees and expenses | 530 |  |
| Registration fees | 13317 |  |
| Audit fees | 39716 |  |
| Legal | 175 |  |
| Miscellaneous | 489 |  |
| **Total expenses** |  | 1460332 |
| **Net Investment income (loss)** |  | 6385242 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 12825330 |  |
| Fidelity Central Funds | (79) |  |
| Foreign currency transactions | 7825 |  |
| Total net realized gain (loss) |  | 12833076 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 27502357 |  |
| Assets and liabilities in foreign currencies | 106141 |  |
| Total change in net unrealized appreciation (depreciation) |  | 27608498 |
| **Net gain (loss)** |  | 40441574 |
| **Net increase (decrease) in net assets resulting from operations** |  | $46826816 |

---

---

| | | |
|:---|:---|:---|
| **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) | $6385242 | $7795723 |
| &nbsp;&nbsp;Net realized gain (loss) | 12833076<br>| 18026046<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 27608498 | 4149614<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 46826816<br>| 29971383<br>|
| Distributions to shareholders | (27222296)<br>| (17187035)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 19599932 | 40045592 |
| Reinvestment of distributions | 24474249<br>| 15532893<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (34325961) | (72553478) |
| **Net increase (decrease) in net assets resulting from share transactions** | 9748220<br>| (16974993)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 29352740<br>| (4190645)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 328403519 | 332594164<br>|
| &nbsp;&nbsp;End of period | $357756259 | $328403519 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 284117 | 625961 |
| Issued in reinvestment of distributions | 381516<br>| 257979<br>|
| &nbsp;&nbsp;Redeemed | (505371) | (1147997) |
| &nbsp;&nbsp;Net increase (decrease) | 160262 | (264057) |

---

**Financial Highlights** 

**Fidelity® Nordic 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  | $68.28 | $65.55 | $53.55 | $46.13 | $75.57 | $56.51 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | 1.28  | 1.56 C | .92  | .93  | .78  | 1.06  |
| Net realized and unrealized gain (loss)  | 8.17  | 4.65  | 11.11  | 6.49  | (20.65) D | 20.17  |
| Total from investment operations  | 9.45  | 6.21  | 12.03  | 7.42  | (19.87)  | 21.23  |
| Distributions from net investment income  | (2.42)  | (2.36)  | (.03)  | -  | (3.02)  | (.96)  |
| Distributions from net realized gain  | (3.32)  | (1.12)  | -  | -  | (6.56)  | (1.21)  |
| Total distributions  | (5.74)  | (3.48)  | (.03)  | -  | (9.57) E | (2.17)  |
| Net asset value, end of period  | $71.99 | $68.28 | $65.55 | $53.55 | $46.13 | $75.57 |
| **Total Return** F,G | 14.86% <br>| 10.19% C | 22.47%  | 16.08%  | (29.33)% D | 38.39%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .86% J | .86%  | .88%  | .94%  | .93%  | .92%  |
| Expenses net of fee waivers, if any  | .86% J<br>| .86%  | .88%  | .93%  | .92%  | .92%  |
| Expenses net of all reductions, if any  | .86% J | .86%  | .88%  | .93%  | .92%  | .92%  |
| Net investment income (loss)  | 3.74% J | 2.43%  | 1.39%  | 1.69%  | 1.45%  | 1.51%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $357756 | $328404 | $332594 | $286653 | $257164 | $422673 |
| Portfolio turnover rate K | 62% J<br>| 49%  | 21%  | 23%  | 42%  | 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 (loss) per share reflects EU reclaims which amounted to $.75 per share. Excluding these EU reclaims, the total return would have been 9.02%.*

D*Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (29.35)%.*

E*Total distributions per share do not sum due to rounding.*

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

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

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*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 Nordic Fund (the Fund) is a 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. 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. For U.S. income tax purposes, EU reclaims received by a fund reduce the amounts of foreign taxes shareholders can use as tax credits in their individual income tax returns. In the event that EU reclaims received by a fund during the fiscal year exceed foreign withholding taxes paid in that year, and a fund previously passed foreign tax credit on to its shareholders, a fund will enter into a closing agreement with the Internal Revenue Service (IRS) in order to pay the associated tax liability on behalf of shareholders. During the fiscal year ended October 31, 2025 and the six months ended April 30, 2026, the Fund received EU reclaims in excess of foreign withholding taxes paid. The Fund is seeking closing agreements with the IRS and has accrued estimated payments, along with associated interest and fees due to the IRS as presented in the Statement of Assets and Liabilities in payable for IRS closing agreement payments and fees, and in the Statement of Operations in IRS closing agreement payments and fees. The actual fees may differ from the estimate.

**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), non-deductible expenses 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** | $110627814 |
| **Gross unrealized depreciation** | <u>(4734875)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$105892939</u> |
| **Tax cost** | <u>$248034149</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 Nordic Fund** | 103371782 | 118791649 |

---

**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 Nordic Fund** | .85 |

---

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 Nordic 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 Nordic Fund** | 12 |

---

**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 Nordic Fund** | 1954367 | 3020006 | 404602 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Nordic Fund** | 8118 |

---

**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 Nordic Fund** | 214 |

---

**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 Nordic Fund** | 3090 | - | - |

---

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 Nordic Fund** | 661838 |

---

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

**Fidelity® Pacific Basin Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 94.4%** | &nbsp;&nbsp;**Common Stocks - 94.4%** | &nbsp;&nbsp;**Common Stocks - 94.4%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 6.3%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Specialty Retail - 1.0% |  |  |
| Lovisa Holdings Ltd  | 659641 | 11419974 |
| Financials - 3.9% |  |  |
| Capital Markets - 2.1% |  |  |
| HUB24 Ltd  | 143970 | 8809735 |
| Macquarie Group Ltd  | 92404 | 15874288 |
|  |  | 24684023 |
| Financial Services - 1.8% |  |  |
| Challenger Ltd  | 2079470 | 12942987 |
| Cuscal Ltd  | 2233531 | 7585787 |
|  |  | 20528774 |
| TOTAL FINANCIALS |  | 45212797 |
| Industrials - 0.5% |  |  |
| Commercial Services & Supplies - 0.5% |  |  |
| Brambles Ltd  | 382033 | 6253479 |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Northern Star Resources Ltd  | 705728 | 10817566 |
| TOTAL AUSTRALIA |  | 73703816 |
| CHINA - 16.0%  |  |  |
| Communication Services - 5.4% |  |  |
| Entertainment - 1.0% |  |  |
| DouYu International Holdings Ltd ADR (a)(b) | 887510 | 4331048 |
| HUYA Inc Class A ADR (b) | 2391957 | 7510745 |
|  |  | 11841793 |
| Interactive Media & Services - 4.4% |  |  |
| Tencent Holdings Ltd  | 845900 | 51373424 |
| TOTAL COMMUNICATION SERVICES |  | 63215217 |
| Consumer Discretionary - 6.1% |  |  |
| Automobile Components - 0.3% |  |  |
| WeRide Inc ADR (a)(b) | 666300 | 5143836 |
| Broadline Retail - 1.8% |  |  |
| Alibaba Group Holding Ltd  | 933700 | 15388323 |
| PDD Holdings Inc Class A ADR (a) | 52300 | 5223724 |
|  |  | 20612047 |
| Diversified Consumer Services - 0.9% |  |  |
| TAL Education Group Class A ADR (a) | 906600 | 10081392 |
| Hotels, Restaurants & Leisure - 1.5% |  |  |
| Atour Lifestyle Holdings Ltd ADR  | 246116 | 9411476 |
| Luckin Coffee Inc ADR (a) | 233200 | 8162000 |
|  |  | 17573476 |
| Textiles, Apparel & Luxury Goods - 1.6% |  |  |
| Laopu Gold Co Ltd H Shares (b) | 99300 | 7089899 |
| Shenzhou International Group Holdings Ltd  | 1859100 | 11332002 |
|  |  | 18421901 |
| TOTAL CONSUMER DISCRETIONARY |  | 71832652 |
| Consumer Staples - 1.3% |  |  |
| Beverages - 1.3% |  |  |
| China Resources Beverage Holdings Co Ltd (b) | 8999400 | 10019310 |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 163500 | 4885401 |
| TOTAL CONSUMER STAPLES |  | 14904711 |
| Financials - 0.6% |  |  |
| Consumer Finance - 0.6% |  |  |
| Lufax Holding Ltd ADR (a)(b) | 3947300 | 7539343 |
| Health Care - 0.9% |  |  |
| Biotechnology - 0.3% |  |  |
| Zai Lab Ltd ADR (a)(b) | 162700 | 3520828 |
| Health Care Equipment & Supplies - 0.6% |  |  |
| Zylox-Tonbridge Medical Technology Co Ltd H Shares (e)(f) | 2421500 | 7134535 |
| TOTAL HEALTH CARE |  | 10655363 |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| EHang Holdings Ltd ADR (a)(b) | 281900 | 2751344 |
| Electrical Equipment - 0.0% |  |  |
| Sigenergy Technology Co Ltd H Shares  | 4300 | 314804 |
| TOTAL INDUSTRIALS |  | 3066148 |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 5500 | 225629 |
| Software - 0.3% |  |  |
| Pony AI Inc ADR (a) | 333056 | 3287263 |
| TOTAL INFORMATION TECHNOLOGY |  | 3512892 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Jiangxi Copper Co Ltd H Shares  | 1117000 | 5308507 |
| Real Estate - 0.6% |  |  |
| Real Estate Management & Development - 0.6% |  |  |
| KE Holdings Inc ADR (b) | 408000 | 6989040 |
| TOTAL CHINA |  | 187023873 |
| HONG KONG - 2.5%  |  |  |
| Financials - 2.5% |  |  |
| Capital Markets - 0.4% |  |  |
| Futu Holdings Ltd Class A ADR  | 30500 | 4712555 |
| Insurance - 2.1% |  |  |
| AIA Group Ltd  | 2210400 | 24267473 |
| TOTAL FINANCIALS |  | 28980028 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| China Metal Recycling Holdings Ltd (a)(c) | 2572200 | 3 |
| TOTAL HONG KONG |  | 28980031 |
| INDIA - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.1% |  |  |
| Meesho (g) | 318647 | 653594 |
| INDONESIA - 1.4%  |  |  |
| Consumer Staples - 0.6% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 42249400 | 3233290 |
| Food Products - 0.3% |  |  |
| Ultrajaya Milk Industry & Trading Co Tbk PT  | 40753600 | 3985874 |
| TOTAL CONSUMER STAPLES |  | 7219164 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Bank Central Asia Tbk PT  | 28192200 | 9558290 |
| TOTAL INDONESIA |  | 16777454 |
| JAPAN - 34.3%  |  |  |
| Communication Services - 1.7% |  |  |
| Entertainment - 1.7% |  |  |
| Daiichikosho Co Ltd  | 232600 | 2419335 |
| Nintendo Co Ltd  | 348600 | 17053126 |
| TOTAL COMMUNICATION SERVICES |  | 19472461 |
| Consumer Discretionary - 5.8% |  |  |
| Automobiles - 1.4% |  |  |
| Toyota Motor Corp  | 852800 | 16369852 |
| Broadline Retail - 0.6% |  |  |
| Pan Pacific International Holdings Corp  | 1181000 | 6679799 |
| Hotels, Restaurants & Leisure - 0.5% |  |  |
| Kyoritsu Maintenance Co Ltd  | 352700 | 5366131 |
| Household Durables - 2.8% |  |  |
| Open House Group Co Ltd  | 177300 | 10434754 |
| Panasonic Holdings Corp  | 1096382 | 22427383 |
|  |  | 32862137 |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| Unitika Ltd (a)(b) | 403900 | 6393792 |
| TOTAL CONSUMER DISCRETIONARY |  | 67671711 |
| Consumer Staples - 1.0% |  |  |
| Food Products - 0.7% |  |  |
| Ajinomoto Co Inc  | 257400 | 8272944 |
| Personal Care Products - 0.3% |  |  |
| Rohto Pharmaceutical Co Ltd  | 228000 | 3352733 |
| TOTAL CONSUMER STAPLES |  | 11625677 |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| ENEOS Holdings Inc  | 595800 | 5003817 |
| Financials - 3.6% |  |  |
| Banks - 0.6% |  |  |
| Sumitomo Mitsui Financial Group Inc  | 191400 | 6758153 |
| Capital Markets - 0.4% |  |  |
| SBI Holdings Inc  | 244200 | 4927474 |
| Financial Services - 1.7% |  |  |
| ORIX Corp  | 579500 | 19503937 |
| Insurance - 0.9% |  |  |
| LIFENET INSURANCE CO (a)(b) | 370100 | 4557078 |
| Tokio Marine Holdings Inc  | 128300 | 5875726 |
|  |  | 10432804 |
| TOTAL FINANCIALS |  | 41622368 |
| Health Care - 2.6% |  |  |
| Health Care Equipment & Supplies - 1.7% |  |  |
| Hoya Corp  | 108600 | 20280377 |
| Pharmaceuticals - 0.9% |  |  |
| Takeda Pharmaceutical Co Ltd  | 305500 | 10213719 |
| TOTAL HEALTH CARE |  | 30494096 |
| Industrials - 7.7% |  |  |
| Building Products - 1.3% |  |  |
| Daikin Industries Ltd  | 109200 | 15429436 |
| Construction & Engineering - 0.5% |  |  |
| COMSYS Holdings Corp  | 167900 | 6046339 |
| Electrical Equipment - 0.5% |  |  |
| NIDEC CORP  | 414500 | 6384862 |
| Industrial Conglomerates - 2.1% |  |  |
| Hitachi Ltd  | 765200 | 24332097 |
| Machinery - 2.0% |  |  |
| IHI Corp  | 389600 | 7116266 |
| Mitsubishi Heavy Industries Ltd  | 322100 | 9613364 |
| Namura Shipbuilding Co Ltd  | 236200 | 6186827 |
|  |  | 22916457 |
| Professional Services - 1.3% |  |  |
| Funai Soken Holdings Inc  | 52200 | 372423 |
| SMS Co Ltd  | 272600 | 3105891 |
| Timee Inc (a)(b) | 1409400 | 11450767 |
|  |  | 14929081 |
| TOTAL INDUSTRIALS |  | 90038272 |
| Information Technology - 9.0% |  |  |
| Electronic Equipment, Instruments & Components - 2.1% |  |  |
| Hamamatsu Photonics KK  | 574700 | 7408132 |
| Ibiden Co Ltd  | 199100 | 17029054 |
|  |  | 24437186 |
| IT Services - 0.3% |  |  |
| NSD Co Ltd  | 228200 | 3917386 |
| Semiconductors & Semiconductor Equipment - 5.9% |  |  |
| Kioxia Holdings Corp (a) | 104500 | 25284681 |
| Renesas Electronics Corp  | 1090900 | 22060886 |
| Rohm Co Ltd  | 639800 | 13842047 |
| SUMCO Corp  | 496400 | 7919890 |
|  |  | 69107504 |
| Technology Hardware, Storage & Peripherals - 0.7% |  |  |
| FUJIFILM Holdings Corp  | 447200 | 8230108 |
| TOTAL INFORMATION TECHNOLOGY |  | 105692184 |
| Materials - 2.2% |  |  |
| Chemicals - 1.6% |  |  |
| Shin-Etsu Chemical Co Ltd  | 70300 | 3236767 |
| Toyo Gosei Co Ltd (b) | 148700 | 14509887 |
|  |  | 17746654 |
| Metals & Mining - 0.6% |  |  |
| Mitsui Kinzoku Co Ltd  | 27400 | 7528388 |
| TOTAL MATERIALS |  | 25275042 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| Sumitomo Realty & Development Co Ltd  | 124917 | 3872378 |
| TOTAL JAPAN |  | 400768006 |
| KOREA (SOUTH) - 10.7%  |  |  |
| Communication Services - 1.7% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| KT Corp  | 326740 | 13547752 |
| Interactive Media & Services - 0.5% |  |  |
| Webtoon Entertainment Inc (a) | 514503 | 6297517 |
| TOTAL COMMUNICATION SERVICES |  | 19845269 |
| Consumer Discretionary - 1.4% |  |  |
| Broadline Retail - 1.4% |  |  |
| Coupang Inc Class A (a) | 819200 | 16367616 |
| Consumer Staples - 0.7% |  |  |
| Personal Care Products - 0.7% |  |  |
| Amorepacific Corp  | 86518 | 7983157 |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| KB Financial Group Inc  | 111279 | 12263849 |
| Industrials - 1.8% |  |  |
| Aerospace & Defense - 1.8% |  |  |
| Hanwha Aerospace Co Ltd  | 14120 | 13650029 |
| Korea Aerospace Industries Ltd  | 66860 | 7709110 |
| TOTAL INDUSTRIALS |  | 21359139 |
| Information Technology - 4.1% |  |  |
| Technology Hardware, Storage & Peripherals - 4.1% |  |  |
| Samsung Electronics Co Ltd  | 310870 | 47113691 |
| TOTAL KOREA (SOUTH) |  | 124932721 |
| SINGAPORE - 0.5%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Broadline Retail - 0.5% |  |  |
| Sea Ltd Class A ADR (a) | 74700 | 6340536 |
| TAIWAN - 15.3%  |  |  |
| Industrials - 1.1% |  |  |
| Electrical Equipment - 1.1% |  |  |
| Bizlink Holding Inc  | 140000 | 12611043 |
| Information Technology - 14.2% |  |  |
| Semiconductors & Semiconductor Equipment - 14.2% |  |  |
| MediaTek Inc  | 205000 | 17168193 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 2146000 | 149453381 |
| TOTAL INFORMATION TECHNOLOGY |  | 166621574 |
| TOTAL TAIWAN |  | 179232617 |
| THAILAND - 1.4%  |  |  |
| Industrials - 1.4% |  |  |
| Transportation Infrastructure - 1.4% |  |  |
| Airports of Thailand PCL  | 10211500 | 16165512 |
| UNITED STATES - 5.9%  |  |  |
| Health Care - 1.4% |  |  |
| Biotechnology - 0.2% |  |  |
| Legend Biotech Corp ADR (a) | 108900 | 2561328 |
| Health Care Equipment & Supplies - 1.2% |  |  |
| Anteris Technologies Global Corp (a)(b) | 1795137 | 11040093 |
| Anteris Technologies Global Corp depository receipt (a) | 455983 | 2573556 |
| GI Dynamics Inc (a)(c) | 111225 | 1 |
|  |  | 13613650 |
| TOTAL HEALTH CARE |  | 16174978 |
| Industrials - 1.0% |  |  |
| Aerospace & Defense - 1.0% |  |  |
| Space Exploration Technologies Corp (a)(c)(d) | 22539 | 11868812 |
| Information Technology - 2.3% |  |  |
| Software - 0.5% |  |  |
| Canva Inc Class A (a)(c)(d) | 4424 | 5453730 |
| Technology Hardware, Storage & Peripherals - 1.8% |  |  |
| Seagate Technology Holdings PLC  | 15300 | 10306692 |
| Western Digital Corp  | 23700 | 10298124 |
|  |  | 20604816 |
| TOTAL INFORMATION TECHNOLOGY |  | 26058546 |
| Materials - 1.2% |  |  |
| Construction Materials - 1.2% |  |  |
| James Hardie Industries PLC depository receipt (a) | 672333 | 14344236 |
| TOTAL UNITED STATES |  | 68446572 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $672,605,245) |  | <br> **1103024732** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.1%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(c)(d) | 76206 | 528108 |
| INDIA - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.1% |  |  |
| Valuedrive Technologies Pvt Ltd Series A (c)(d) | 116 | 155452 |
| Valuedrive Technologies Pvt Ltd Series B (c)(d) | 233 | 312243 |
| Valuedrive Technologies Pvt Ltd Series C (c)(d) | 1 | 1340 |
| Valuedrive Technologies Pvt Ltd Series C1 (c)(d) | 1 | 1340 |
| Valuedrive Technologies Pvt Ltd Series G (c)(d) | 1490900 | 554984 |
| Valuedrive Technologies Pvt Ltd Series S2 (c)(d) | 57 | 76386 |
| TOTAL INDIA |  | 1101745 |
| UNITED STATES - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Canva Inc Series A2 (a)(c)(d) | 15 | 18490 |
| Canvas Inc Series A (a)(c)(d) | 85 | 104785 |
| TOTAL UNITED STATES |  | 123275 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $2,343,194) |  | <br> **1753128** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 2.7%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 2.7%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 2.7%** |
|  | Shares | Value ($)<br>|
| KOREA (SOUTH) - 2.7%  |  |  |
| Financials - 0.7% |  |  |
| Insurance - 0.7% |  |  |
| Samsung Fire & Marine Insurance Co Ltd  | 30652 | 7774696 |
| Information Technology - 2.0% |  |  |
| Technology Hardware, Storage & Peripherals - 2.0% |  |  |
| Samsung Electronics Co Ltd non-voting shares  | 219180 | 23808813 |
| TOTAL KOREA (SOUTH) |  | 31583509 |
| <br> **TOTAL NON-CONVERTIBLE PREFERRED STOCKS**<br> (Cost $12,442,059) |  | <br> **31583509** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 6.8%** | &nbsp;&nbsp;**Money Market Funds - 6.8%** | &nbsp;&nbsp;**Money Market Funds - 6.8%** | &nbsp;&nbsp;**Money Market Funds - 6.8%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 34188196 | 34195033 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 45555929 | 45560485 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $79,755,518) |  |  | **79755518** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 104.0%**<br> (Cost $767,146,016)<br>| <br>**1216116887** |
| **NET OTHER ASSETS (LIABILITIES) - (4.0)%**  | **(46376964)** |
| **NET ASSETS - 100.0%** | **1169739923** |

---

**Legend**

(a) Non-income producing.

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

(c) Level 3 security.

(d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $19,075,670 or 1.6% of net assets.

(e) 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 $7,134,535 or 0.6% of net assets.

(f) 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 $7,134,535 or 0.6% of net assets.

(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 $653,594 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Canva Inc Class A | 3/18/2024 - 11/12/2025 | 5573816 |
| Canva Inc Series A2 | 9/22/2023 | 16000 |
| Canvas Inc Series A | 9/22/2023 | 90666 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 1082365 |
| Space Exploration Technologies Corp | 2/16/2021 - 5/24/2022 | 1437725 |
| Valuedrive Technologies Pvt Ltd Series A | 2/12/2026 | 153330 |
| Valuedrive Technologies Pvt Ltd Series B | 2/12/2026 | 307981 |
| Valuedrive Technologies Pvt Ltd Series C | 2/12/2026 | 1201 |
| Valuedrive Technologies Pvt Ltd Series C1 | 2/12/2026 | 1201 |
| Valuedrive Technologies Pvt Ltd Series G | 2/12/2026 | 621971 |
| Valuedrive Technologies Pvt Ltd Series S2 | 2/12/2026 | 68479 |

---

---

| | |
|:---|:---|
| 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 |

---

**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 | 19028323 | 235605403 | 220440004 | 287827 | 1311 | - | 34195033 | 34188196 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 32975813 | 215489158 | 202904386 | 495828 | (100) | - | 45560485 | 45555929 | 0.1% |
| Total | 52004136 | 451094561 | 423344390 | 783655 | 1211 | - | 79755518 |  |  |

---

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 | 102532947 | 18139310 | 84393637 | - |
| Consumer Discretionary | 174286083 | 60730580 | 113555503 | - |
| Consumer Staples | 41732709 | - | 41732709 | - |
| Energy | 5003817 | - | 5003817 | - |
| Financials | 145176675 | 12251898 | 132924777 | - |
| Health Care | 57324437 | 17122249 | 40202187 | 1 |
| Industrials | 161362405 | 2751344 | 146742249 | 11868812 |
| Information Technology | 348998887 | 23892079 | 319653078 | 5453730 |
| Materials | 55745354 | - | 55745351 | 3 |
| Real Estate | 10861418 | 6989040 | 3872378 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Consumer Discretionary | 1101745 | - | - | 1101745 |
| Health Care | 528108 | - | - | 528108 |
| Information Technology | 123275 | - | - | 123275 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Financials | 7774696 | - | 7774696 | - |
| Information Technology | 23808813 | - | 23808813 | - |
|  **Money Market Funds** | 79755518 | 79755518 | - | - |
| **Total Investments in Securities:** | 1216116887 | 221632018 | 975409195 | 19075674 |

---

The following is a reconciliation of consolidated Investments in Securities for which Level 3 inputs were used in determining value. Beginning balances have been updated to conform to current period presentation, as applicable.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning Balance ($)** | **Net Realized Gain (Loss) on Investment Securities ($)** | **Net Unrealized Gain (Loss) on Investment Securities ($)** | **Cost of Purchases ($)** | **Proceeds of Sales ($)** | **Amortization/**<br> **Accretion ($)** | **Transfers into Level 3 ($)** | **Transfers out of Level 3 ($)** | **Ending Balance ($)** | **The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2026 ($)** |
| **Common Stocks** | 11402620 | - | 5261470 | 658456 | - | - | - | - | 17322546 | 5261470 |
| **Convertible Preferred Stocks** | 1264223 | (5) | (368448) | 1154163 | (296805) | - | - | - | 1753128 | (174532) |
| <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. |  |  |  |

---

**Fidelity® Pacific Basin 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 $44,572,880) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $687,390,498) | $1136361369 |  |
| Fidelity Central Funds (cost $79,755,518) | 79755518 |  |
| Total Investment in Securities (cost $767,146,016) |  | $1216116887 |
| Cash |  | 15015 |
| Foreign currency held at value (cost $6,141) |  | 6142 |
| Receivable for investments sold |  | 65051 |
| Receivable for fund shares sold |  | 300551 |
| Dividends receivable |  | 2698016 |
| Distributions receivable from Fidelity Central Funds |  | 202360 |
| Prepaid expenses |  | 222 |
| Other receivables |  | 159052 |
| **Total assets** |  | 1219563296 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $1999832 |  |
| Payable for fund shares redeemed | 1329402 |  |
| Accrued management fee | 853342 |  |
| Other payables and accrued expenses | 80212 |  |
| Collateral on securities loaned | 45560585 |  |
| **Total liabilities** |  | 49823373 |
| **Net Assets**  |  | $1169739923 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $680513335 |
| Total accumulated earnings (loss) |  | 489226588 |
| **Net Assets** |  | $1169739923 |
| **Net Asset Value**, offering price and redemption price per share ($1,169,739,923 ÷ 25,353,079 shares) |  | $46.14 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $7509940 |
| Income from Fidelity Central Funds (including $495,828 from security lending)  |  | 783655 |
| Security lending |  | 44675 |
| Income before foreign taxes withheld |  | $8338270 |
| Less foreign taxes withheld |  | (883504) |
| **Total income** |  | 7454766 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $4320450 |  |
| Performance adjustment | 512814 |  |
| Custodian fees and expenses | 179824 |  |
| Independent trustees' fees and expenses | 1544 |  |
| Registration fees | 29600 |  |
| Audit fees | 42169 |  |
| Legal | 1124 |  |
| Interest | 4657 |  |
| Miscellaneous | 1316 |  |
| Total expenses before reductions | 5093498 |  |
| Expense reductions | (1644) |  |
| Total expenses after reductions |  | 5091854 |
| **Net Investment income (loss)** |  | 2362912 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 77188776 |  |
| Fidelity Central Funds | 1211 |  |
| Foreign currency transactions | (245535) |  |
| Total net realized gain (loss) |  | 76944452 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of increase in deferred foreign taxes of $11,760)  | 91212041 |  |
| Assets and liabilities in foreign currencies | 113987 |  |
| Total change in net unrealized appreciation (depreciation) |  | 91326028 |
| **Net gain (loss)** |  | 168270480 |
| **Net increase (decrease) in net assets resulting from operations** |  | $170633392 |

---

---

| | | |
|:---|:---|:---|
| **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) | $2362912 | $17640315 |
| &nbsp;&nbsp;Net realized gain (loss) | 76944452<br>| 45303189<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 91326028 | 172806060<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 170633392<br>| 235749564<br>|
| Distributions to shareholders | (74098293)<br>| (38319917)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 115516979 | 155495367 |
| Reinvestment of distributions | 55785947<br>| 28600287<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (92749586) | (102559536) |
| **Net increase (decrease) in net assets resulting from share transactions** | 78553340<br>| 81536118<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 175088439<br>| 278965765<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 994651484 | 715685719<br>|
| &nbsp;&nbsp;End of period | $1169739923 | $994651484 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 2749914 | 4305008 |
| Issued in reinvestment of distributions | 1464583<br>| 909678<br>|
| &nbsp;&nbsp;Redeemed | (2237978) | (2978157) |
| &nbsp;&nbsp;Net increase (decrease) | 1976519 | 2236529 |

---

**Consolidated Financial Highlights** 

**Fidelity® Pacific Basin 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  | $42.55 | $33.85 | $27.79 | $25.99 | $46.10 | $40.16 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .10  | .80 C | .88 D | .32 E | .22  | .15  |
| Net realized and unrealized gain (loss)  | 6.66  | 9.73  | 6.77  | 3.88  | (14.49)  | 7.74  |
| Total from investment operations  | 6.76  | 10.53  | 7.65  | 4.20  | (14.27)  | 7.89  |
| Distributions from net investment income  | (1.76)  | (1.83)  | (.25)  | -  | (1.17) F | (.10)  |
| Distributions from net realized gain  | (1.42)  | -  | (1.34)  | (2.40)  | (4.67) F | (1.85)  |
| Total distributions  | (3.17) G | (1.83)  | (1.59)  | (2.40)  | (5.84)  | (1.95)  |
| Net asset value, end of period  | $46.14 | $42.55 | $33.85 | $27.79 | $25.99 | $46.10 |
| **Total Return** H,I | 17.47% <br>| 33.02%  | 28.70%  | 16.06%  | (35.11)%  | 20.08%  |
| **Ratios to Average Net Assets** B,J,K |  |  |  |  |  |  |
| Expenses before reductions  | .98% L | .98%  | .88%  | 1.07%  | 1.12%  | 1.04%  |
| Expenses net of fee waivers, if any  | .98% L<br>| .98%  | .88%  | 1.07%  | 1.12%  | 1.04%  |
| Expenses net of all reductions, if any  | .98% L | .98%  | .88%  | 1.07%  | 1.12%  | 1.04%  |
| Net investment income (loss)  | .45% L | 2.28% C | 2.88% D | 1.08% E | .64%  | .32%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1169740 | $994651 | $715686 | $649965 | $657558 | $1214726 |
| Portfolio turnover rate M | 75% L<br>| 47%  | 61%  | 46%  | 29%  | 40%  |

---

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 $.56 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .69%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.39 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.61%.*

E*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.07 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .84%.*

F*The amount shown reflects reclassifications related to book to tax differences that were made in the year shown.*

G*Total distributions per share do not sum due to rounding.*

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

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

J*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.*

K*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.*

L*Annualized.*

M*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 Consolidated Financial Statements (Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Pacific Basin Fund (the Fund) is a fund of Fidelity Investment Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Consolidated 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. 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 Consolidated 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 consolidated 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 consolidated 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 consolidated financial statements and consolidated financial highlights. Subsequent events, if any, through the date that the consolidated financial statements were issued have been evaluated in the preparation of the consolidated financial statements. The Fund's Consolidated 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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Fair Value** | **Valuation Technique(s)** | **Unobservable Input** | **Amount or Range/Weighted Average** | **Impact to Valuation from an Increase in InputA** |
| Convertible Preferred Stocks | $1753128  | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 7.8 | Increase |
|  |  |  | Enterprise value/Gross profit multiple (EV/GP)  | 7.3 | Increase |
|  |  | Market approach  | Transaction price  | $15.40  | Increase |
|  |  |  | Discount rate  | 25.0% | Decrease |
|  |  | Black scholes  | Discount rate  | 3.8% | Increase |
|  |  |  | Term  | 3.0 | Increase |
|  |  |  | Volatility  | 60.0% | Increase |
| Common Stocks | $17322546  | Market comparable  | Enterprise value/EBITDA multiple (EV/EBITDA)  | 89.5 | Increase |
|  |  |  | Enterprise value/Revenue multiple (EV/R) | 7.8 | Increase |
|  |  | Recovery value  | Recovery value  | $0.00  | Increase |

---

*A Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end.* 

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, as well as a roll forward of Level 3 investments, is included at the end of the Fund's Consolidated 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 Consolidated 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 Consolidated Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Consolidated 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 consolidated 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 Consolidated 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 consolidated 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** | $482647841 |
| **Gross unrealized depreciation** | <u>(60081273)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$422566568</u> |
| **Tax cost** | <u>$793550319</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 Consolidated Schedule of Investments, if applicable.

Consolidated Special Purpose Vehicle. The Funds included in the table below hold 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 Pacific Basin Fund** | FID FDI 302,LLC | 1169110 | .10 |

---

The financial statements have been consolidated to include the SPV accounts where applicable. Accordingly, all inter-company transactions and balances have been eliminated.

**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 Pacific Basin Fund** | 382639278 | 386673231 |

---

**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 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 %** |
| **Fidelity Pacific Basin Fund** | .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 %** |
| **Fidelity Pacific Basin Fund** | .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 Pacific Basin Fund** | MSCI All Country Pacific Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of the 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 ±.20% 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 .10%.

**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 Consolidated Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Pacific Basin Fund** | 1741 |

---

**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 Pacific Basin Fund**  | Borrower | 10455250 | 4.02% | 4657 |

---

**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 Pacific Basin Fund** | 8163347 | 201324 | 53004 |

---

**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 Consolidated 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 Pacific Basin Fund** | 649 |

---

**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 Consolidated Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Consolidated 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 Consolidated 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 Consolidated 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 Pacific Basin Fund** | 57746 | 4 | - |

---

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 Consolidated Schedule of Investments or Consolidated Statement of Assets and Liabilities.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Pacific Basin Fund** | 178903 |

---

**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 $1,644.

**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, 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.

---

| | |
|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** |
| **Fidelity Pacific Basin Fund** | 14% |

---

**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 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.

![](img131255_4.jpg)<br>

1.703611.128 TIF-SANN-0626

**Fidelity® Total International Equity Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131260_1.jpg)

![](img131260_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_TIE-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Total International Equity Fund](#Sub_Sec_Fund_1978_TIE-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1978_TIE-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_TIE-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_TIE-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_TIE-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_TIE-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® Total International Equity Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.8%** | &nbsp;&nbsp;**Common Stocks - 98.8%** | &nbsp;&nbsp;**Common Stocks - 98.8%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.1%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| YPF SA Class D ADR (a)(c) | 47200 | 2131552 |
| AUSTRALIA - 1.8%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Whitehaven Coal Ltd  | 45004 | 275002 |
| Financials - 0.1% |  |  |
| Capital Markets - 0.1% |  |  |
| Macquarie Group Ltd  | 15155 | 2603511 |
| Insurance - 0.0% |  |  |
| Steadfast Group Ltd  | 167959 | 516614 |
| TOTAL FINANCIALS |  | 3120125 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| Anglogold Ashanti Plc  | 132184 | 12389607 |
| Glencore PLC  | 1338700 | 10404160 |
| Imdex Ltd  | 445618 | 1310820 |
| Rio Tinto PLC  | 115935 | 11678895 |
| TOTAL MATERIALS |  | 35783482 |
| TOTAL AUSTRALIA |  | 39178609 |
| AUSTRIA - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Erste Group Bank AG  | 72100 | 7966769 |
| BELGIUM - 1.2%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| KBC Ancora  | 23405 | 2134363 |
| KBC Group NV  | 161310 | 21440658 |
| TOTAL FINANCIALS |  | 23575021 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| UCB SA (c) | 6990 | 1896721 |
| TOTAL BELGIUM |  | 25471742 |
| BRAZIL - 1.3%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| PRIO SA/Brazil (c) | 693681 | 9303153 |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Itau Unibanco Holding SA  | 764823 | 6670848 |
| Materials - 0.6% |  |  |
| Containers & Packaging - 0.2% |  |  |
| Klabin SA  | 7636854 | 5505790 |
| Metals & Mining - 0.4% |  |  |
| Vale SA ADR  | 473266 | 7742632 |
| TOTAL MATERIALS |  | 13248422 |
| TOTAL BRAZIL |  | 29222423 |
| CANADA - 7.4%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Hotels, Restaurants & Leisure - 0.4% |  |  |
| Restaurant Brands International Inc (a) | 97730 | 7886175 |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| Alimentation Couche-Tard Inc  | 174598 | 10329219 |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| Canadian Natural Resources Ltd  | 246505 | 11766764 |
| Suncor Energy Inc  | 214935 | 14728273 |
| TOTAL ENERGY |  | 26495037 |
| Financials - 2.2% |  |  |
| Banks - 1.4% |  |  |
| Royal Bank of Canada  | 113850 | 20476825 |
| Toronto Dominion Bank  | 101073 | 10888219 |
|  |  | 31365044 |
| Capital Markets - 0.4% |  |  |
| Brookfield Asset Management Ltd Class A  | 96876 | 4654270 |
| TMX Group Ltd  | 109032 | 4446846 |
|  |  | 9101116 |
| Insurance - 0.4% |  |  |
| Intact Financial Corp  | 43461 | 8374485 |
| TOTAL FINANCIALS |  | 48840645 |
| Industrials - 1.4% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| BOYD GROUP INC  | 33086 | 4089867 |
| Ground Transportation - 0.9% |  |  |
| Canadian Pacific Kansas City Ltd  | 211442 | 18389780 |
| Professional Services - 0.3% |  |  |
| Thomson Reuters Corp  | 75876 | 7258312 |
| Trading Companies & Distributors - 0.0% |  |  |
| Richelieu Hardware Ltd  | 28128 | 822500 |
| TOTAL INDUSTRIALS |  | 30560459 |
| Information Technology - 0.3% |  |  |
| Software - 0.3% |  |  |
| Constellation Software Inc/Canada  | 3966 | 7223063 |
| Constellation Software Inc/Canada warrants 3/31/2040 (b)(c) | 921 | 0 |
| TOTAL INFORMATION TECHNOLOGY |  | 7223063 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Agnico Eagle Mines Ltd/CA  | 23141 | 4351534 |
| Franco-Nevada Corp  | 110261 | 25437915 |
| OR Royalties Inc  | 35952 | 1324164 |
| TOTAL MATERIALS |  | 31113613 |
| TOTAL CANADA |  | 162448211 |
| CHILE - 0.7%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Banco de Chile  | 42665007 | 7998059 |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.3% |  |  |
| Antofagasta PLC  | 158703 | 7665326 |
| TOTAL CHILE |  | 15663385 |
| CHINA - 9.6%  |  |  |
| Communication Services - 1.8% |  |  |
| Interactive Media & Services - 1.8% |  |  |
| Tencent Holdings Ltd  | 638395 | 38771175 |
| Consumer Discretionary - 1.4% |  |  |
| Automobiles - 0.6% |  |  |
| BYD Co Ltd H Shares  | 974839 | 12967472 |
| Broadline Retail - 0.5% |  |  |
| Alibaba Group Holding Ltd ADR  | 73070 | 9636472 |
| PDD Holdings Inc Class A ADR (c) | 12066 | 1205152 |
|  |  | 10841624 |
| Hotels, Restaurants & Leisure - 0.0% |  |  |
| Shangri-La Asia Ltd  | 510093 | 290143 |
| Household Durables - 0.3% |  |  |
| Haier Smart Home Co Ltd A Shares (China)  | 2157567 | 6822428 |
| TOTAL CONSUMER DISCRETIONARY |  | 30921667 |
| Consumer Staples - 0.0% |  |  |
| Personal Care Products - 0.0% |  |  |
| Chlitina Holding Ltd  | 60094 | 203111 |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| China Petroleum & Chemical Corp H Shares  | 15020589 | 8874011 |
| Financials - 1.5% |  |  |
| Banks - 0.7% |  |  |
| China Construction Bank Corp H Shares  | 12765083 | 14409225 |
| Insurance - 0.8% |  |  |
| China Life Insurance Co Ltd H Shares  | 3593072 | 13255038 |
| PICC Property & Casualty Co Ltd H Shares  | 2281119 | 4120528 |
|  |  | 17375566 |
| TOTAL FINANCIALS |  | 31784791 |
| Health Care - 0.9% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| Shanghai Conant Optical Co Ltd H Shares  | 1306926 | 7870325 |
| Life Sciences Tools & Services - 0.3% |  |  |
| Wuxi Apptec Co Ltd H Shares (e)(f) | 372171 | 6538268 |
| Pharmaceuticals - 0.2% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (e)(f) | 1258221 | 6026461 |
| TOTAL HEALTH CARE |  | 20435054 |
| Industrials - 2.7% |  |  |
| Electrical Equipment - 1.1% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 169614 | 10896514 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 347125 | 7690659 |
| Qingdao TGOOD Electric Co Ltd A Shares (China)  | 1495662 | 6500030 |
|  |  | 25087203 |
| Machinery - 1.6% |  |  |
| Airtac International Group  | 169833 | 7954722 |
| First Tractor Co Ltd H Shares  | 4913734 | 5789883 |
| Sany Heavy Equipment International Holdings Co Ltd  | 5105347 | 7057056 |
| Sany Heavy Industry Co Ltd A Shares (China)  | 1988219 | 5943972 |
| Zhejiang Sanhua Intelligent Controls Co Ltd A Shares (China)  | 825182 | 5724872 |
|  |  | 32470505 |
| TOTAL INDUSTRIALS |  | 57557708 |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Aluminum Corp of China Ltd A Shares (China)  | 3450700 | 5960756 |
| MMG Ltd (c) | 5540289 | 5977341 |
| Zijin Mining Group Co Ltd A Shares (China)  | 1761974 | 8683508 |
| TOTAL MATERIALS |  | 20621605 |
| TOTAL CHINA |  | 209169122 |
| DENMARK - 0.2%  |  |  |
| Industrials - 0.2% |  |  |
| Air Freight & Logistics - 0.2% |  |  |
| DSV A/S  | 15999 | 3916107 |
| FINLAND - 1.0%  |  |  |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Mandatum Holding Oy  | 93193 | 744850 |
| Sampo Oyj A Shares  | 400939 | 4166254 |
| TOTAL FINANCIALS |  | 4911104 |
| Industrials - 0.3% |  |  |
| Machinery - 0.3% |  |  |
| Kone Oyj B Shares  | 114848 | 7305691 |
| Information Technology - 0.3% |  |  |
| Communications Equipment - 0.3% |  |  |
| Nokia Oyj  | 488754 | 6083305 |
| Utilities - 0.2% |  |  |
| Electric Utilities - 0.2% |  |  |
| Fortum Oyj  | 157685 | 3967837 |
| TOTAL FINLAND |  | 22267937 |
| FRANCE - 6.3%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.3% |  |  |
| Orange SA  | 363455 | 7567988 |
| Entertainment - 0.1% |  |  |
| Vivendi SE  | 525113 | 1225873 |
| Media - 0.1% |  |  |
| Canal+ SA  | 380164 | 1186705 |
| TOTAL COMMUNICATION SERVICES |  | 9980566 |
| Consumer Discretionary - 0.5% |  |  |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 19151 | 10145924 |
| Consumer Staples - 0.1% |  |  |
| Beverages - 0.0% |  |  |
| Laurent-Perrier  | 2244 | 221755 |
| Food Products - 0.1% |  |  |
| Danone SA  | 40545 | 3176622 |
| TOTAL CONSUMER STAPLES |  | 3398377 |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| TotalEnergies SE  | 59877 | 5572076 |
| Financials - 0.9% |  |  |
| Banks - 0.4% |  |  |
| BNP Paribas SA  | 74707 | 7845842 |
| Insurance - 0.5% |  |  |
| AXA SA  | 227627 | 10972827 |
| TOTAL FINANCIALS |  | 18818669 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| EssilorLuxottica SA  | 30537 | 6463754 |
| Pharmaceuticals - 0.0% |  |  |
| Vetoquinol SA  | 6959 | 628892 |
| TOTAL HEALTH CARE |  | 7092646 |
| Industrials - 3.0% |  |  |
| Aerospace & Defense - 2.0% |  |  |
| Airbus SE  | 95717 | 19732967 |
| LISI SA  | 13033 | 951422 |
| Safran SA  | 68425 | 21972146 |
|  |  | 42656535 |
| Building Products - 0.2% |  |  |
| Cie de Saint-Gobain SA  | 56657 | 5190907 |
| Electrical Equipment - 0.7% |  |  |
| Legrand SA  | 89451 | 16026367 |
| Trading Companies & Distributors - 0.1% |  |  |
| Rexel SA  | 52801 | 2216043 |
| TOTAL INDUSTRIALS |  | 66089852 |
| Materials - 0.6% |  |  |
| Chemicals - 0.6% |  |  |
| Air Liquide SA  | 64927 | 13968421 |
| Utilities - 0.1% |  |  |
| Multi-Utilities - 0.1% |  |  |
| Veolia Environnement SA  | 90251 | 3816643 |
| TOTAL FRANCE |  | 138883174 |
| GERMANY - 3.9%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobiles - 0.2% |  |  |
| Bayerische Motoren Werke AG  | 36316 | 3321128 |
| Specialty Retail - 0.0% |  |  |
| Fielmann Group AG  | 5902 | 294392 |
| TOTAL CONSUMER DISCRETIONARY |  | 3615520 |
| Financials - 0.8% |  |  |
| Banks - 0.1% |  |  |
| Commerzbank AG  | 54959 | 2271137 |
| Capital Markets - 0.1% |  |  |
| Deutsche Bank AG  | 37324 | 1160841 |
| Deutsche Boerse AG  | 5216 | 1600258 |
|  |  | 2761099 |
| Insurance - 0.6% |  |  |
| Hannover Rueck SE  | 20873 | 6310581 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 11226 | 6729992 |
|  |  | 13040573 |
| TOTAL FINANCIALS |  | 18072809 |
| Health Care - 0.4% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Fresenius SE & Co KGaA  | 96433 | 4670213 |
| Pharmaceuticals - 0.2% |  |  |
| Bayer AG  | 76880 | 3433259 |
| TOTAL HEALTH CARE |  | 8103472 |
| Industrials - 1.6% |  |  |
| Aerospace & Defense - 0.8% |  |  |
| Rheinmetall AG  | 10483 | 16680913 |
| Air Freight & Logistics - 0.3% |  |  |
| Deutsche Post AG  | 111890 | 6625483 |
| Industrial Conglomerates - 0.5% |  |  |
| Siemens AG  | 38324 | 11388405 |
| Machinery - 0.0% |  |  |
| Daimler Truck Holding AG  | 27906 | 1407521 |
| TOTAL INDUSTRIALS |  | 36102322 |
| Materials - 0.4% |  |  |
| Chemicals - 0.0% |  |  |
| BASF SE  | 6323 | 405535 |
| Construction Materials - 0.4% |  |  |
| Heidelberg Materials AG  | 37203 | 8208592 |
| TOTAL MATERIALS |  | 8614127 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Vonovia SE  | 103501 | 2788649 |
| Utilities - 0.4% |  |  |
| Independent Power and Renewable Electricity Producers - 0.4% |  |  |
| RWE AG  | 111952 | 8151514 |
| TOTAL GERMANY |  | 85448413 |
| GREECE - 0.3%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Eurobank SA  | 1268165 | 5477245 |
| Industrials - 0.0% |  |  |
| Transportation Infrastructure - 0.0% |  |  |
| Athens International Airport SA  | 27141 | 309303 |
| TOTAL GREECE |  | 5786548 |
| HONG KONG - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Insurance - 0.4% |  |  |
| Prudential PLC  | 555060 | 8364504 |
| Prudential PLC rights (c)(d) | 446643 | 84724 |
| TOTAL HONG KONG |  | 8449228 |
| HUNGARY - 1.0%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| OTP Bank Nyrt  | 87022 | 11666775 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Richter Gedeon Nyrt  | 238600 | 10050195 |
| TOTAL HUNGARY |  | 21716970 |
| INDIA - 2.5%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| Reliance Industries Ltd GDR (e) | 47043 | 2841396 |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| ICICI Bank Ltd  | 439548 | 5898238 |
| State Bank of India  | 1018983 | 11526175 |
| TOTAL FINANCIALS |  | 17424413 |
| Industrials - 0.7% |  |  |
| Construction & Engineering - 0.7% |  |  |
| Larsen & Toubro Ltd  | 354236 | 15048486 |
| Information Technology - 0.4% |  |  |
| IT Services - 0.4% |  |  |
| Tata Consultancy Services Ltd  | 299923 | 7870984 |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| JK Cement Ltd  | 95006 | 5321041 |
| Utilities - 0.3% |  |  |
| Independent Power and Renewable Electricity Producers - 0.3% |  |  |
| NTPC Ltd  | 1611579 | 6805136 |
| TOTAL INDIA |  | 55311456 |
| INDONESIA - 0.7%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Bank Central Asia Tbk PT  | 35657554 | 12089346 |
| Materials - 0.1% |  |  |
| Construction Materials - 0.1% |  |  |
| Semen Indonesia Persero Tbk PT  | 30213143 | 3499747 |
| TOTAL INDONESIA |  | 15589093 |
| IRELAND - 0.1%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Household Durables - 0.0% |  |  |
| Cairn Homes PLC  | 81689 | 209200 |
| Industrials - 0.1% |  |  |
| Trading Companies & Distributors - 0.1% |  |  |
| AerCap Holdings NV  | 3830 | 544664 |
| Real Estate - 0.0% |  |  |
| Residential REITs - 0.0% |  |  |
| Irish Residential Properties Reit PLC  | 312520 | 393198 |
| TOTAL IRELAND |  | 1147062 |
| ISRAEL - 0.2%  |  |  |
| Financials - 0.0% |  |  |
| Capital Markets - 0.0% |  |  |
| Tel Aviv Stock Exchange Ltd  | 16338 | 824175 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (c) | 100662 | 3530216 |
| Information Technology - 0.0% |  |  |
| Communications Equipment - 0.0% |  |  |
| Ituran Location and Control Ltd  | 14365 | 827424 |
| TOTAL ISRAEL |  | 5181815 |
| ITALY - 1.6%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Eni SpA (a) | 307813 | 8703848 |
| Financials - 0.8% |  |  |
| Banks - 0.7% |  |  |
| BPER Banca SPA  | 331261 | 4873025 |
| UniCredit SpA  | 117591 | 9087713 |
|  |  | 13960738 |
| Insurance - 0.1% |  |  |
| Generali  | 62438 | 2797971 |
| TOTAL FINANCIALS |  | 16758709 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Prysmian SpA  | 22112 | 3363439 |
| Machinery - 0.1% |  |  |
| Interpump Group SpA  | 72895 | 3061094 |
| Passenger Airlines - 0.1% |  |  |
| Ryanair Holdings PLC ADR  | 37867 | 2069431 |
| TOTAL INDUSTRIALS |  | 8493964 |
| TOTAL ITALY |  | 33956521 |
| JAPAN - 10.7%  |  |  |
| Communication Services - 0.1% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| LY Corp  | 436345 | 1147686 |
| Consumer Discretionary - 1.4% |  |  |
| Automobiles - 0.6% |  |  |
| Toyota Motor Corp  | 625873 | 12013894 |
| Distributors - 0.0% |  |  |
| Central Automotive Products Ltd  | 22411 | 258416 |
| Diversified Consumer Services - 0.0% |  |  |
| Aucnet Inc  | 54624 | 420563 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Curves Holdings Co Ltd  | 126718 | 662752 |
| Gift Holdings Inc  | 20054 | 565739 |
| Koshidaka Holdings Co Ltd  | 120244 | 770021 |
| Monogatari Corp/The  | 25136 | 676158 |
|  |  | 2674670 |
| Household Durables - 0.5% |  |  |
| Panasonic Holdings Corp  | 363730 | 7440392 |
| Sumitomo Forestry Co Ltd  | 236138 | 2134012 |
|  |  | 9574404 |
| Leisure Products - 0.0% |  |  |
| Yonex Co Ltd  | 18814 | 318568 |
| Specialty Retail - 0.2% |  |  |
| USS Co Ltd  | 409703 | 4424964 |
| TOTAL CONSUMER DISCRETIONARY |  | 29685479 |
| Consumer Staples - 0.0% |  |  |
| Consumer Staples Distribution & Retail - 0.0% |  |  |
| YAKUODO Holdings Co Ltd  | 6500 | 73340 |
| Food Products - 0.0% |  |  |
| Iwatsuka Confectionery Co Ltd  | 2332 | 47384 |
| Personal Care Products - 0.0% |  |  |
| Artnature Inc  | 29851 | 153830 |
| TOTAL CONSUMER STAPLES |  | 274554 |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Inpex Corp  | 154590 | 4030189 |
| San-Ai Obbli Co Ltd  | 34710 | 510749 |
| TOTAL ENERGY |  | 4540938 |
| Financials - 2.4% |  |  |
| Banks - 1.7% |  |  |
| Chiba Bank Ltd/The  | 38102 | 525930 |
| Hachijuni Nagano Bank Ltd  | 56150 | 760740 |
| Hokuhoku Financial Group Inc  | 20913 | 797265 |
| Kyoto Financial Group Inc  | 10935 | 302256 |
| Mitsubishi UFJ Financial Group Inc  | 1035559 | 18601581 |
| Sumitomo Mitsui Financial Group Inc  | 449688 | 15878058 |
|  |  | 36865830 |
| Financial Services - 0.3% |  |  |
| ORIX Corp  | 238662 | 8032525 |
| Insurance - 0.4% |  |  |
| Tokio Marine Holdings Inc  | 187105 | 8568805 |
| TOTAL FINANCIALS |  | 53467160 |
| Health Care - 0.5% |  |  |
| Health Care Equipment & Supplies - 0.5% |  |  |
| Hoya Corp  | 51900 | 9692004 |
| Medikit Co Ltd  | 16619 | 316544 |
| Nagaileben Co Ltd  | 42710 | 463281 |
| Techno Medica Co Ltd  | 500 | 7026 |
|  |  | 10478855 |
| Health Care Technology - 0.0% |  |  |
| Software Service Inc  | 2370 | 170877 |
| TOTAL HEALTH CARE |  | 10649732 |
| Industrials - 2.8% |  |  |
| Commercial Services & Supplies - 0.0% |  |  |
| Daiei Kankyo Co Ltd  | 10162 | 244110 |
| Japan Elevator Service Holdings Co Ltd  | 65042 | 658035 |
| Midac Holdings Co Ltd  | 11000 | 148704 |
|  |  | 1050849 |
| Construction & Engineering - 0.1% |  |  |
| SHO-BOND Holdings Co Ltd  | 280356 | 2371450 |
| Industrial Conglomerates - 0.4% |  |  |
| Hitachi Ltd  | 264948 | 8424909 |
| Machinery - 1.5% |  |  |
| Komatsu Ltd  | 105700 | 4525863 |
| MINEBEA MITSUMI Inc  | 133485 | 2668774 |
| Mitsubishi Heavy Industries Ltd  | 825621 | 24641400 |
| Mitsuboshi Belting Ltd  | 6737 | 169736 |
| Moriya Transportation Engineering & Manufacturing Co Ltd  | 19676 | 261015 |
| NS Tool Co Ltd  | 37179 | 206393 |
| Tocalo Co Ltd  | 31900 | 636435 |
|  |  | 33109616 |
| Trading Companies & Distributors - 0.8% |  |  |
| ITOCHU Corp  | 565567 | 7009134 |
| Mitsui & Co Ltd  | 252308 | 9473140 |
|  |  | 16482274 |
| TOTAL INDUSTRIALS |  | 61439098 |
| Information Technology - 2.8% |  |  |
| Electronic Equipment, Instruments & Components - 0.8% |  |  |
| Ai Holdings Corp  | 9884 | 170372 |
| Azbil Corp  | 756245 | 6730397 |
| Keyence Corp  | 22584 | 10358511 |
|  |  | 17259280 |
| IT Services - 0.1% |  |  |
| NSD Co Ltd  | 14915 | 256038 |
| TIS Inc  | 60384 | 1316071 |
|  |  | 1572109 |
| Semiconductors & Semiconductor Equipment - 1.9% |  |  |
| Advantest Corp  | 76000 | 14190611 |
| Disco Corp  | 29100 | 13845271 |
| Lasertec Corp  | 18500 | 5113001 |
| Renesas Electronics Corp  | 339441 | 6864396 |
| Rohm Co Ltd  | 102808 | 2224247 |
|  |  | 42237526 |
| Software - 0.0% |  |  |
| Broadleaf Co Ltd  | 31385 | 181555 |
| Technology Hardware, Storage & Peripherals - 0.0% |  |  |
| FUJIFILM Holdings Corp  | 25072 | 461416 |
| TOTAL INFORMATION TECHNOLOGY |  | 61711886 |
| Materials - 0.3% |  |  |
| Chemicals - 0.3% |  |  |
| Nihon Parkerizing Co Ltd  | 20126 | 185083 |
| Shin-Etsu Chemical Co Ltd  | 129345 | 5955329 |
| SK Kaken Co Ltd  | 13488 | 903477 |
| TOTAL MATERIALS |  | 7043889 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Goldcrest Co Ltd  | 20490 | 436806 |
| Sumitomo Realty & Development Co Ltd  | 110662 | 3430479 |
| TOTAL REAL ESTATE |  | 3867285 |
| TOTAL JAPAN |  | 233827707 |
| KOREA (SOUTH) - 4.0%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Automobile Components - 0.3% |  |  |
| Hyundai Mobis Co Ltd  | 21680 | 6310516 |
| Consumer Staples - 0.0% |  |  |
| Consumer Staples Distribution & Retail - 0.0% |  |  |
| BGF retail Co Ltd  | 4541 | 408514 |
| Industrials - 0.7% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Korea Aerospace Industries Ltd  | 71194 | 8208831 |
| Machinery - 0.3% |  |  |
| Hyundai Rotem Co Ltd  | 33431 | 6156986 |
| TOTAL INDUSTRIALS |  | 14365817 |
| Information Technology - 3.0% |  |  |
| Technology Hardware, Storage & Peripherals - 3.0% |  |  |
| Samsung Electronics Co Ltd  | 434558 | 65859141 |
| TOTAL KOREA (SOUTH) |  | 86943988 |
| MALAYSIA - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| CIMB Group Holdings Bhd  | 4467025 | 8630025 |
| MEXICO - 1.0%  |  |  |
| Communication Services - 0.5% |  |  |
| Wireless Telecommunication Services - 0.5% |  |  |
| America Movil SAB de CV ADR  | 384725 | 10233685 |
| Consumer Staples - 0.3% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Wal-Mart de Mexico SAB de CV Series V  | 1987816 | 6266653 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Regional SAB de CV  | 632034 | 5325895 |
| TOTAL MEXICO |  | 21826233 |
| NETHERLANDS - 2.9%  |  |  |
| Consumer Staples - 0.1% |  |  |
| Food Products - 0.1% |  |  |
| Magnum Ice Cream Co NV/The  | 119200 | 1740345 |
| Industrials - 0.1% |  |  |
| Machinery - 0.1% |  |  |
| Aalberts NV  | 34146 | 1293636 |
| Aalberts NV rights (c)(d) | 34146 | 46086 |
| TOTAL INDUSTRIALS |  | 1339722 |
| Information Technology - 2.7% |  |  |
| Semiconductors & Semiconductor Equipment - 2.7% |  |  |
| ASML Holding NV  | 36072 | 52143746 |
| BE Semiconductor Industries NV  | 26754 | 7762038 |
| TOTAL INFORMATION TECHNOLOGY |  | 59905784 |
| TOTAL NETHERLANDS |  | 62985851 |
| NORWAY - 0.1%  |  |  |
| Health Care - 0.0% |  |  |
| Health Care Equipment & Supplies - 0.0% |  |  |
| Medistim ASA  | 10614 | 257768 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Kongsberg Gruppen ASA  | 30075 | 1006320 |
| Machinery - 0.0% |  |  |
| Kongsberg Maritime AS  | 30075 | 197109 |
| TOTAL INDUSTRIALS |  | 1203429 |
| TOTAL NORWAY |  | 1461197 |
| PHILIPPINES - 0.0%  |  |  |
| Industrials - 0.0% |  |  |
| Transportation Infrastructure - 0.0% |  |  |
| International Container Terminal Services Inc  | 19226 | 223346 |
| PORTUGAL - 0.2%  |  |  |
| Energy - 0.2% |  |  |
| Oil, Gas & Consumable Fuels - 0.2% |  |  |
| Galp Energia SGPS SA  | 193267 | 4527483 |
| RUSSIA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| LUKOIL PJSC ADR (b)(c) | 15040 | 0 |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| Sberbank of Russia PJSC ADR (b)(c) | 62556 | 1 |
| TOTAL RUSSIA |  | 1 |
| SAUDI ARABIA - 0.9%  |  |  |
| Energy - 0.5% |  |  |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Saudi Arabian Oil Co (e)(f) | 1406797 | 10412661 |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Al Rajhi Bank  | 486853 | 8898486 |
| TOTAL SAUDI ARABIA |  | 19311147 |
| SINGAPORE - 0.5%  |  |  |
| Communication Services - 0.2% |  |  |
| Diversified Telecommunication Services - 0.2% |  |  |
| Singapore Telecommunications Ltd  | 1213404 | 4394705 |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| United Overseas Bank Ltd  | 241403 | 6874930 |
| TOTAL SINGAPORE |  | 11269635 |
| SOUTH AFRICA - 1.3%  |  |  |
| Communication Services - 0.4% |  |  |
| Wireless Telecommunication Services - 0.4% |  |  |
| MTN Group Ltd  | 756296 | 9489171 |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Thungela Resources Ltd (United Kingdom)  | 28433 | 248004 |
| Financials - 0.3% |  |  |
| Financial Services - 0.3% |  |  |
| FirstRand Ltd  | 1138298 | 6029238 |
| Materials - 0.6% |  |  |
| Metals & Mining - 0.6% |  |  |
| Anglo American PLC  | 103299 | 5111749 |
| Valterra Platinum Ltd  | 84748 | 6825859 |
| Valterra Platinum Ltd (United Kingdom)  | 18489 | 1498213 |
| TOTAL MATERIALS |  | 13435821 |
| TOTAL SOUTH AFRICA |  | 29202234 |
| SPAIN - 1.4%  |  |  |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| Banco Santander SA  | 1969733 | 23996247 |
| Bankinter SA  | 374421 | 6224656 |
| TOTAL FINANCIALS |  | 30220903 |
| Industrials - 0.0% |  |  |
| Machinery - 0.0% |  |  |
| Fluidra SA  | 10554 | 246372 |
| TOTAL SPAIN |  | 30467275 |
| SWEDEN - 3.5%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Autoliv Inc  | 30401 | 3524388 |
| Financials - 0.5% |  |  |
| Financial Services - 0.5% |  |  |
| Investor AB B Shares  | 286482 | 11542748 |
| Health Care - 0.0% |  |  |
| Life Sciences Tools & Services - 0.0% |  |  |
| AddLife AB B Shares  | 21401 | 331234 |
| Industrials - 2.5% |  |  |
| Aerospace & Defense - 0.0% |  |  |
| INVISIO AB  | 19376 | 558232 |
| Building Products - 0.6% |  |  |
| Assa Abloy AB B Shares  | 368507 | 14025438 |
| Machinery - 1.5% |  |  |
| Atlas Copco AB A Shares  | 865652 | 16332791 |
| Epiroc AB A Shares  | 527595 | 15231356 |
|  |  | 31564147 |
| Trading Companies & Distributors - 0.4% |  |  |
| AddTech AB B Shares  | 226491 | 8178722 |
| Bergman & Beving AB B Shares  | 30583 | 1035140 |
|  |  | 9213862 |
| TOTAL INDUSTRIALS |  | 55361679 |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Lagercrantz Group AB B Shares  | 211449 | 5523977 |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| John Mattson Fastighetsforetagen AB  | 53976 | 344338 |
| TOTAL SWEDEN |  | 76628364 |
| SWITZERLAND - 2.6%  |  |  |
| Financials - 1.5% |  |  |
| Capital Markets - 0.8% |  |  |
| UBS Group AG  | 357684 | 15793304 |
| UBS Group AG (United States)  | 52118 | 2287980 |
|  |  | 18081284 |
| Insurance - 0.7% |  |  |
| Swiss Life Holding AG  | 3417 | 4009350 |
| Zurich Insurance Group AG  | 15957 | 11125544 |
|  |  | 15134894 |
| TOTAL FINANCIALS |  | 33216178 |
| Industrials - 1.1% |  |  |
| Electrical Equipment - 0.8% |  |  |
| ABB Ltd  | 167590 | 16950010 |
| Machinery - 0.3% |  |  |
| Schindler Holding AG  | 1028 | 344706 |
| Schindler Holding AG participation certificate  | 20765 | 7265823 |
|  |  | 7610529 |
| TOTAL INDUSTRIALS |  | 24560539 |
| TOTAL SWITZERLAND |  | 57776717 |
| TAIWAN - 8.6%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Eclat Textile Co Ltd  | 288361 | 3073270 |
| Information Technology - 8.5% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Delta Electronics Inc  | 275727 | 19397010 |
| Elite Material Co Ltd  | 72955 | 10905223 |
| Yageo Corp  | 1356278 | 13872196 |
|  |  | 44174429 |
| Semiconductors & Semiconductor Equipment - 6.5% |  |  |
| eMemory Technology Inc  | 78920 | 10026452 |
| MediaTek Inc  | 336077 | 28145536 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 1483599 | 103321942 |
|  |  | 141493930 |
| TOTAL INFORMATION TECHNOLOGY |  | 185668359 |
| TOTAL TAIWAN |  | 188741629 |
| TURKEY - 0.7%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Yapi ve Kredi Bankasi AS (c) | 8305446 | 6808353 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.4% |  |  |
| Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS  | 1505662 | 9463547 |
| TOTAL TURKEY |  | 16271900 |
| UNITED ARAB EMIRATES - 0.3%  |  |  |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| Adnoc Gas PLC  | 6941279 | 6368493 |
| UNITED KINGDOM - 8.8%  |  |  |
| Consumer Discretionary - 1.1% |  |  |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| Compass Group PLC  | 455893 | 12878977 |
| Household Durables - 0.2% |  |  |
| Barratt Redrow PLC  | 1310835 | 4464381 |
| Leisure Products - 0.3% |  |  |
| Games Workshop Group PLC  | 26272 | 6967602 |
| Specialty Retail - 0.0% |  |  |
| JD Sports Fashion PLC  | 582489 | 533434 |
| TOTAL CONSUMER DISCRETIONARY |  | 24844394 |
| Consumer Staples - 1.0% |  |  |
| Consumer Staples Distribution & Retail - 0.0% |  |  |
| Tesco PLC  | 238611 | 1565168 |
| Tobacco - 1.0% |  |  |
| British American Tobacco PLC  | 220489 | 12985662 |
| Imperial Brands PLC  | 209628 | 7964328 |
|  |  | 20949990 |
| TOTAL CONSUMER STAPLES |  | 22515158 |
| Financials - 2.1% |  |  |
| Banks - 1.7% |  |  |
| HSBC Holdings PLC  | 731378 | 13457228 |
| Lloyds Banking Group PLC  | 10727906 | 14582476 |
| Metro Bank Holdings PLC (c) | 129591 | 263100 |
| Standard Chartered PLC  | 324480 | 8262828 |
|  |  | 36565632 |
| Capital Markets - 0.2% |  |  |
| London Stock Exchange Group PLC  | 15312 | 1989820 |
| St James's Place PLC  | 92700 | 1537034 |
|  |  | 3526854 |
| Insurance - 0.2% |  |  |
| Beazley PLC  | 269986 | 4687813 |
| TOTAL FINANCIALS |  | 44780299 |
| Health Care - 1.5% |  |  |
| Pharmaceuticals - 1.5% |  |  |
| Astrazeneca PLC  | 110283 | 20931428 |
| GSK PLC  | 426779 | 11189067 |
| TOTAL HEALTH CARE |  | 32120495 |
| Industrials - 2.8% |  |  |
| Aerospace & Defense - 2.5% |  |  |
| Avon Technologies PLC  | 16318 | 382809 |
| BAE Systems PLC  | 1054517 | 29329873 |
| Rolls-Royce Holdings PLC  | 1458769 | 23473869 |
|  |  | 53186551 |
| Machinery - 0.0% |  |  |
| Bodycote PLC  | 44227 | 409838 |
| Spirax Group PLC  | 4565 | 445264 |
|  |  | 855102 |
| Marine Transportation - 0.0% |  |  |
| Clarkson PLC  | 4588 | 301917 |
| Trading Companies & Distributors - 0.3% |  |  |
| Diploma PLC  | 13121 | 1239095 |
| Howden Joinery Group PLC  | 433688 | 4585396 |
|  |  | 5824491 |
| TOTAL INDUSTRIALS |  | 60168061 |
| Information Technology - 0.0% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Oxford Instruments PLC  | 15361 | 603246 |
| Real Estate - 0.0% |  |  |
| Diversified REITs - 0.0% |  |  |
| Shaftesbury Capital PLC  | 120320 | 218573 |
| Utilities - 0.3% |  |  |
| Electric Utilities - 0.3% |  |  |
| SSE PLC  | 209040 | 7484549 |
| TOTAL UNITED KINGDOM |  | 192734775 |
| UNITED STATES - 10.1%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| InterContinental Hotels Group PLC ADR  | 84805 | 12201743 |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| PriceSmart Inc  | 25967 | 4074742 |
| Food Products - 0.2% |  |  |
| Nestle SA  | 47350 | 4793697 |
| TOTAL CONSUMER STAPLES |  | 8868439 |
| Energy - 1.4% |  |  |
| Energy Equipment & Services - 0.4% |  |  |
| Tenaris SA ADR  | 128959 | 8240480 |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| BP PLC  | 502970 | 3981427 |
| Shell PLC ADR  | 201826 | 18299564 |
|  |  | 22280991 |
| TOTAL ENERGY |  | 30521471 |
| Financials - 0.1% |  |  |
| Financial Services - 0.1% |  |  |
| Mastercard Inc Class A  | 3256 | 1637507 |
| Visa Inc Class A  | 5103 | 1683174 |
| TOTAL FINANCIALS |  | 3320681 |
| Health Care - 1.3% |  |  |
| Pharmaceuticals - 1.3% |  |  |
| Novartis AG  | 103420 | 15284408 |
| Roche Holding AG  | 34965 | 14248232 |
| TOTAL HEALTH CARE |  | 29532640 |
| Industrials - 2.6% |  |  |
| Commercial Services & Supplies - 0.4% |  |  |
| GFL Environmental Inc Subordinate Voting Shares  | 196838 | 7897575 |
| Electrical Equipment - 2.1% |  |  |
| GE Vernova Inc  | 19474 | 21099300 |
| Schneider Electric SE  | 74859 | 23820794 |
|  |  | 44920094 |
| Trading Companies & Distributors - 0.1% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 13716 | 3622692 |
| TOTAL INDUSTRIALS |  | 56440361 |
| Materials - 3.7% |  |  |
| Chemicals - 1.3% |  |  |
| Linde PLC  | 42234 | 21165147 |
| Sherwin-Williams Co/The  | 21437 | 6894353 |
|  |  | 28059500 |
| Construction Materials - 2.4% |  |  |
| Amrize Ltd  | 53831 | 2945944 |
| CRH PLC  | 291397 | 34507233 |
| Holcim AG  | 160238 | 14890345 |
|  |  | 52343522 |
| TOTAL MATERIALS |  | 80403022 |
| TOTAL UNITED STATES |  | 221288357 |
| ZAMBIA - 0.1%  |  |  |
| Materials - 0.1% |  |  |
| Metals & Mining - 0.1% |  |  |
| First Quantum Minerals Ltd (c) | 132264 | 3238562 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,798,691,909) |  | <br> **2162631056** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.0%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.0%  |  |  |
| Communication Services - 0.0% |  |  |
| Interactive Media & Services - 0.0% |  |  |
| Bytedance Ltd Series E1 (b)(c)(g)<br>(Cost $63,224)<br>| 577 | **173965** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** | &nbsp;&nbsp;**Money Market Funds - 1.8%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 37170560 | 37177994 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 2785378 | 2785657 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $39,963,647) |  |  | **39963651** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.6%**<br> (Cost $1,838,718,780)<br>| <br>**2202768672** |
| **NET OTHER ASSETS (LIABILITIES) - (0.6)%**  | **(12662338)** |
| **NET ASSETS - 100.0%** | **2190106334** |

---

**Legend**

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

(b) Level 3 security.

(c) Non-income producing.

(d) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(e) 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 $25,818,786 or 1.2% of net assets.

(f) 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 $22,977,390 or 1.0% of net assets.

(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 $173,965 or 0.0% 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>|
| Bytedance Ltd Series E1 | 11/18/2020 | 63224 |

---

**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 | 36599868 | 1553147521 | 1552552787 | 807211 | (16609) | 1 | 37177994 | 37170560 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 2377535 | 93694258 | 93286754 | 27940 | 618 | - | 2785657 | 2785378 | 0.0% |
| Total | 38977403 | 1646841779 | 1645839541 | 835151 | (15991) | 1 | 39963651 |  |  |

---

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 | 74016988 | 20909561 | 53107427 | - |
| Consumer Discretionary | 132418276 | 68804587 | 63613689 | - |
| Consumer Staples | 54004370 | 24197882 | 29806488 | - |
| Energy | 120815125 | 94439899 | 26375226 | - |
| Financials | 463563628 | 229942623 | 233621004 | 1 |
| Health Care | 124000173 | 55307945 | 68692228 | - |
| Industrials | 510740527 | 167592935 | 343147592 | - |
| Information Technology | 401277169 | 28023053 | 373254116 | - |
| Materials | 243957078 | 134666420 | 109290658 | - |
| Real Estate | 7612043 | 956109 | 6655934 | - |
| Utilities | 30225679 | 3967837 | 26257842 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 173965 | - | - | 173965 |
|  **Money Market Funds** | 39963651 | 39963651 | - | - |
| **Total Investments in Securities:** | 2202768672 | 868772502 | 1333822204 | 173966 |

---

**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 $10,848,705) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,798,755,133) | $2162805021 |  |
| Fidelity Central Funds (cost $39,963,647) | 39963651 |  |
| Total Investment in Securities (cost $1,838,718,780) |  | $2202768672 |
| Cash |  | 256 |
| Foreign currency held at value (cost $772,598) |  | 772590 |
| Receivable for investments sold |  | 4703336 |
| Receivable for fund shares sold |  | 3393202 |
| Dividends receivable |  | 5514530 |
| Reclaims receivable |  | 1149533 |
| Distributions receivable from Fidelity Central Funds |  | 128595 |
| Prepaid expenses |  | 146 |
| Other receivables |  | 236758 |
| **Total assets** |  | 2218667618 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $18925013 |  |
| Delayed delivery | 132101 |  |
| Payable for fund shares redeemed | 5222570 |  |
| Accrued management fee | 1371837 |  |
| Distribution and service plan fees payable | 24515 |  |
| Other payables and accrued expenses | 99943 |  |
| Collateral on securities loaned | 2785305 |  |
| **Total liabilities** |  | 28561284 |
| **Net Assets**  |  | $2190106334 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1832197116 |
| Total accumulated earnings (loss) |  | 357909218 |
| **Net Assets** |  | $2190106334 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($63,575,136 ÷ 3,899,765 shares)(a) |  | $16.30 |
| Maximum offering price per share (100/94.25 of $16.30) |  | $17.29 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($18,635,079 ÷ 1,132,614 shares)(a) |  | $16.45 |
| Maximum offering price per share (100/96.50 of $16.45) |  | $17.05 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($5,166,803 ÷ 317,175 shares)(a) |  | $16.29 |
| **Total International Equity :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,456,700,547 ÷ 89,220,503 shares) |  | $16.33 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($178,898,701 ÷ 10,970,251 shares) |  | $16.31 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($467,130,068 ÷ 28,506,631 shares) |  | $16.39 |
| *(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  |  | $19478210 |
| Income from Fidelity Central Funds (including $27,940 from security lending)  |  | 835151 |
| Security lending |  | 1640 |
| Income before foreign taxes withheld |  | $20315001 |
| Less foreign taxes withheld |  | (1801219) |
| **Total income** |  | 18513782 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $6520175 |  |
| Performance adjustment | 100859 |  |
| Distribution and service plan fees | 131507 |  |
| Custodian fees and expenses | 177892 |  |
| Independent trustees' fees and expenses | 1971 |  |
| Registration fees | 107719 |  |
| Audit fees | 51632 |  |
| Legal | 1076 |  |
| Miscellaneous | 1415 |  |
| **Total expenses** |  | 7094246 |
| **Net Investment income (loss)** |  | 11419536 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | (5402308) |  |
| Fidelity Central Funds | (15991) |  |
| Foreign currency transactions | (356514) |  |
| Total net realized gain (loss) |  | (5774813) |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $391,666)  | 192940516 |  |
| Fidelity Central Funds  | 1 |  |
| Assets and liabilities in foreign currencies | 113754 |  |
| Total change in net unrealized appreciation (depreciation) |  | 193054271 |
| **Net gain (loss)** |  | 187279458 |
| **Net increase (decrease) in net assets resulting from operations** |  | $198698994 |

---

---

| | | |
|:---|:---|:---|
| **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) | $11419536 | $7559878 |
| &nbsp;&nbsp;Net realized gain (loss) | (5774813)<br>| 4363172<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 193054271 | 107299381<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 198698994<br>| 119222431<br>|
| Distributions to shareholders | (14894969)<br>| (4837858)<br>|
| Share transactions - net increase (decrease) | 891709734<br>| 680448664<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1075513759<br>| 794833237<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1114592575 | 319759338<br>|
| &nbsp;&nbsp;End of period | $2190106334 | $1114592575 |

---

**Financial Highlights** 

**Fidelity Advisor® Total International Equity 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  | $14.66 | $11.84 | $9.56 | $8.56 | $12.48 | $9.60 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .08  | .16  | .13  | .13  | .15  | .11 C |
| Net realized and unrealized gain (loss)  | 1.68  | 2.80  | 2.27  | .95  | (3.10)  | 3.03  |
| Total from investment operations  | 1.76  | 2.96  | 2.40  | 1.08  | (2.95)  | 3.14  |
| Distributions from net investment income  | (.09)  | (.14)  | (.12)  | (.08)  | (.19)  | (.06)  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.12)  | (.14)  | (.12)  | (.08)  | (.97) D | (.26)  |
| Net asset value, end of period  | $16.30 | $14.66 | $11.84 | $9.56 | $8.56 | $12.48 |
| **Total Return** E,F,G | 12.07% <br>| 25.32%  | 25.25%  | 12.66%  | (25.44)%  | 33.04%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.13% J | 1.22%  | 1.28%  | 1.39%  | 1.56%  | 1.60%  |
| Expenses net of fee waivers, if any  | 1.13% J<br>| 1.20%  | 1.24%  | 1.29%  | 1.30%  | 1.34%  |
| Expenses net of all reductions, if any  | 1.13% J | 1.20%  | 1.24%  | 1.29%  | 1.30%  | 1.34%  |
| Net investment income (loss)  | 1.06% J | 1.25%  | 1.11%  | 1.33%  | 1.55%  | .91% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $63575 | $44012 | $24152 | $17343 | $12786 | $8642 |
| Portfolio turnover rate K | 69% J<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 .64%.*

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

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*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® Total International Equity 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  | $14.76 | $11.91 | $9.62 | $8.61 | $12.53 | $9.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .13  | .10  | .11  | .13  | .08 C |
| Net realized and unrealized gain (loss)  | 1.69  | 2.83  | 2.28  | .95  | (3.12)  | 3.04  |
| Total from investment operations  | 1.75  | 2.96  | 2.38  | 1.06  | (2.99)  | 3.12  |
| Distributions from net investment income  | (.03)  | (.11)  | (.09)  | (.05)  | (.15)  | (.04)  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.06)  | (.11)  | (.09)  | (.05)  | (.93) D | (.24)  |
| Net asset value, end of period  | $16.45 | $14.76 | $11.91 | $9.62 | $8.61 | $12.53 |
| **Total Return** E,F,G | 11.89% <br>| 25.06%  | 24.91%  | 12.34%  | (25.59)%  | 32.63%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.38% J | 1.48%  | 1.52%  | 1.66%  | 1.80%  | 1.83%  |
| Expenses net of fee waivers, if any  | 1.38% J<br>| 1.45%  | 1.48%  | 1.54%  | 1.55%  | 1.59%  |
| Expenses net of all reductions, if any  | 1.38% J | 1.45%  | 1.48%  | 1.54%  | 1.55%  | 1.59%  |
| Net investment income (loss)  | .81% J | 1.00%  | .87%  | 1.09%  | 1.29%  | .65% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $18635 | $16290 | $13015 | $10624 | $9876 | $12936 |
| Portfolio turnover rate K | 69% J<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 .38%.*

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

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*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® Total International Equity 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  | $14.62 | $11.79 | $9.53 | $8.53 | $12.41 | $9.57 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .02  | .06  | .04  | .06  | .08  | .02 C |
| Net realized and unrealized gain (loss)  | 1.68  | 2.81  | 2.27  | .95  | (3.11)  | 3.02  |
| Total from investment operations  | 1.70  | 2.87  | 2.31  | 1.01  | (3.03)  | 3.04  |
| Distributions from net investment income  | -  | (.04)  | (.05)  | (.01)  | (.07)  | -  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.03)  | (.04)  | (.05)  | (.01)  | (.85) D | (.20)  |
| Net asset value, end of period  | $16.29 | $14.62 | $11.79 | $9.53 | $8.53 | $12.41 |
| **Total Return** E,F,G | 11.66% <br>| 24.45%  | 24.28%  | 11.82%  | (26.04)%  | 32.00%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.88% J | 1.97%  | 2.02%  | 2.18%  | 2.34%  | 2.40%  |
| Expenses net of fee waivers, if any  | 1.88% J<br>| 1.95%  | 1.99%  | 2.04%  | 2.05%  | 2.10%  |
| Expenses net of all reductions, if any  | 1.88% J | 1.95%  | 1.99%  | 2.04%  | 2.05%  | 2.10%  |
| Net investment income (loss)  | .31% J | .50%  | .36%  | .58%  | .79%  | .15% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $5167 | $3848 | $2950 | $2475 | $1893 | $1982 |
| Portfolio turnover rate K | 69% J<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 (.12)%.*

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*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*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® Total International Equity 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  | $14.73 | $11.90 | $9.60 | $8.60 | $12.54 | $9.64 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .10  | .20  | .16  | .16  | .18  | .14 C |
| Net realized and unrealized gain (loss)  | 1.68  | 2.81  | 2.28  | .94  | (3.12)  | 3.04  |
| Total from investment operations  | 1.78  | 3.01  | 2.44  | 1.10  | (2.94)  | 3.18  |
| Distributions from net investment income  | (.15)  | (.18)  | (.14)  | (.10)  | (.23)  | (.08)  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.18)  | (.18)  | (.14)  | (.10)  | (1.00)  | (.28)  |
| Net asset value, end of period  | $16.33 | $14.73 | $11.90 | $9.60 | $8.60 | $12.54 |
| **Total Return** D,E | 12.24% <br>| 25.67%  | 25.68%  | 12.80%  | (25.25)%  | 33.37%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .83% H | .91%  | .99%  | 1.11%  | 1.23%  | 1.27%  |
| Expenses net of fee waivers, if any  | .83% H<br>| .91%  | .99%  | 1.04%  | 1.05%  | 1.09%  |
| Expenses net of all reductions, if any  | .83% H | .91%  | .99%  | 1.04%  | 1.05%  | 1.09%  |
| Net investment income (loss)  | 1.36% H | 1.54%  | 1.36%  | 1.58%  | 1.79%  | 1.16% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1456701 | $865934 | $163406 | $108561 | $86458 | $82604 |
| Portfolio turnover rate I | 69% H<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 .89%.*

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 Advisor® Total International Equity 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  | $14.67 | $11.85 | $9.56 | $8.56 | $12.49 | $9.60 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .10  | .19  | .16  | .16  | .17  | .14 C |
| Net realized and unrealized gain (loss)  | 1.67  | 2.81  | 2.27  | .94  | (3.10)  | 3.03  |
| Total from investment operations  | 1.77  | 3.00  | 2.43  | 1.10  | (2.93)  | 3.17  |
| Distributions from net investment income  | (.10)  | (.18)  | (.14)  | (.10)  | (.23)  | (.08)  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.13)  | (.18)  | (.14)  | (.10)  | (1.00)  | (.28)  |
| Net asset value, end of period  | $16.31 | $14.67 | $11.85 | $9.56 | $8.56 | $12.49 |
| **Total Return** D,E | 12.20% <br>| 25.67%  | 25.69%  | 12.86%  | (25.28)%  | 33.40%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .88% H | .96%  | .99%  | 1.09%  | 1.22%  | 1.26%  |
| Expenses net of fee waivers, if any  | .88% H<br>| .95%  | .97%  | 1.04%  | 1.04%  | 1.06%  |
| Expenses net of all reductions, if any  | .88% H | .95%  | .97%  | 1.04%  | 1.04%  | 1.06%  |
| Net investment income (loss)  | 1.31% H | 1.50%  | 1.38%  | 1.58%  | 1.80%  | 1.18% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $178899 | $121849 | $69379 | $57299 | $35423 | $5714 |
| Portfolio turnover rate I | 69% H<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 .91%.*

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 Advisor® Total International Equity 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  | $14.80 | $11.93 | $9.63 | $8.61 | $12.53 | $9.62 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .21  | .17  | .17  | .19  | .16 C |
| Net realized and unrealized gain (loss)  | 1.68  | 2.84  | 2.28  | .95  | (3.11)  | 3.03  |
| Total from investment operations  | 1.79  | 3.05  | 2.45  | 1.12  | (2.92)  | 3.19  |
| Distributions from net investment income  | (.17)  | (.18)  | (.15)  | (.10)  | (.23)  | (.08)  |
| Distributions from net realized gain  | (.03)  | -  | -  | -  | (.77)  | (.20)  |
| Total distributions  | (.20)  | (.18)  | (.15)  | (.10)  | (1.00)  | (.28)  |
| Net asset value, end of period  | $16.39 | $14.80 | $11.93 | $9.63 | $8.61 | $12.53 |
| **Total Return** D,E | 12.27% <br>| 25.91%  | 25.73%  | 13.04%  | (25.09)%  | 33.54%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .75% H | .83%  | .89%  | .95%  | 1.10%  | 1.16%  |
| Expenses net of fee waivers, if any  | .75% H<br>| .80%  | .85%  | .89%  | .90%  | .94%  |
| Expenses net of all reductions, if any  | .75% H | .80%  | .85%  | .89%  | .90%  | .94%  |
| Net investment income (loss)  | 1.44% H | 1.65%  | 1.50%  | 1.74%  | 1.94%  | 1.31% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $467130 | $62660 | $46858 | $26401 | $7681 | $5752 |
| Portfolio turnover rate I | 69% H<br>| 37%  | 33%  | 28%  | 31%  | 39%  |

---

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 1.04%.*

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 Total 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, Total International Equity, 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. 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. 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 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** | $431791072 |
| **Gross unrealized depreciation** | <u>(79094041)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$352697031</u> |
| **Tax cost** | <u>$1850071641</u> |

---

**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 Total International Equity Fund** | 1470312634 | 572809933 |

---

**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** | .88 |
| **Class M** | .88 |
| **Class C** | .88 |
| **Total International Equity** | .87 |
| **Class I** | .85 |
| **Class Z** | .72 |

---

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** | .82 |
| **Class C** | .82 |
| **Total International Equity** | .78 |
| **Class I** | .82 |
| **Class Z** | .69 |

---

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 Total International Equity Fund** | MSCI All Country World ex USA Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Total International Equity. 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 ±.20% 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 .01%.

**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% | 65992 | 4104 |
| **Class M** | .25% | .25% | 42974 | 565 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>22541</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6969</u> |
|  |  |  | <u>131507</u> | <u>11638</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** | 25695 |
| **Class M** | 1112 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>24</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>26831</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 Total International Equity Fund** | 1605 |

---

**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 Total International Equity Fund** | 121880416 | 14905409 | (255478) |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Total International Equity Fund** | 17269 |

---

**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 Total International Equity Fund** | 974 |

---

**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 Total International Equity Fund** | 3215 | - | - |

---

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 Total International Equity Fund** | 8369885 |

---

**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 Total International Equity Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $369689 | $294865 |
| Class M | 62908 | 118208 |
| Class C | 8313 | 10828 |
| Total International Equity | 11164676 | 2693319 |
| Class I | 1060923 | 1209622 |
| Class Z | <u>2228460</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>511016</u> |
| Total  | <u>$14894969</u> | <u>$4837858</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 Total International Equity Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 1147379 | 1316237 | $17764518 | $17044482 |
| Reinvestment of distributions  | 25165 | 25108 | 369311 | 294592 |
| Shares redeemed | <u>(274452)</u> | <u>(379540)</u> | <u>(4255299)</u> | <u>(4853816)</u> |
| Net increase (decrease) | <u>898092</u> | <u>961805</u> | <u>$13878530</u> | <u>$12485258</u> |
| **Class M** |  |  |  |  |
| Shares sold | 120476 | 173829 | $1891930 | $2275071 |
| Reinvestment of distributions  | 4238 | 9993 | 62849 | 118147 |
| Shares redeemed | <u>(95992)</u> | <u>(172632)</u> | <u>(1460865)</u> | <u>(2206805)</u> |
| Net increase (decrease) | <u>28722</u> | <u>11190</u> | <u>$493914</u> | <u>$186413</u> |
| **Class C** |  |  |  |  |
| Shares sold | 85270 | 95768 | $1334221 | $1260882 |
| Reinvestment of distributions  | 565 | 926 | 8313 | 10828 |
| Shares redeemed | <u>(31874)</u> | <u>(83622)</u> | <u>(493223)</u> | <u>(1028540)</u> |
| Net increase (decrease) | <u>53961</u> | <u>13072</u> | <u>$849311</u> | <u>$243170</u> |
| **Total International Equity** |  |  |  |  |
| Shares sold | 38396915 | 51008106 | $586245890 | $706163196 |
| Reinvestment of distributions  | 723206 | 200010 | 10619792 | 2352232 |
| Shares redeemed | <u>(8693569)</u> | <u>(6148640)</u> | <u>(134125296)</u> | <u>(79929120)</u> |
| Net increase (decrease) | <u>30426552</u> | <u>45059476</u> | <u>$462740386</u> | <u>$628586308</u> |
| **Class I** |  |  |  |  |
| Shares sold | 4551276 | 4874881 | $70507393 | $62075906 |
| Reinvestment of distributions  | 70996 | 101172 | 1041144 | 1185843 |
| Shares redeemed | <u>(1960353)</u> | <u>(2523400)</u> | <u>(29984878)</u> | <u>(31412520)</u> |
| Net increase (decrease) | <u>2661919</u> | <u>2452653</u> | <u>$41563659</u> | <u>$31849229</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 25565780 | 3033014 | $392730679 | $40190330 |
| Reinvestment of distributions  | 138626 | 40881 | 2042408 | 482408 |
| Shares redeemed | <u>(1432750)</u> | <u>(2765832)</u> | <u>(22589153)</u> | <u>(33574452)</u> |
| Net increase (decrease) | <u>24271656</u> | <u>308063</u> | <u>$372183934</u> | <u>$7098286</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.

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.

---

| | |
|:---|:---|
|  | **VIP Funds Manager 60% Portfolio** |
| Fidelity Total International Equity Fund | 11% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| Fidelity Total International Equity Fund | 22 |

---

**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.

![](img131260_4.jpg)<br>

1.912361.116 TIE-SANN-0626

**Fidelity® International Value Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131273_1.jpg)

![](img131273_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_FIV-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Value Fund](#Sub_Sec_Fund_1597_FIV-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1597_FIV-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_FIV-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_FIV-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_FIV-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_FIV-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® International Value Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.8%** | &nbsp;&nbsp;**Common Stocks - 97.8%** | &nbsp;&nbsp;**Common Stocks - 97.8%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.9%  |  |  |
| Financials - 0.4% |  |  |
| Capital Markets - 0.4% |  |  |
| Macquarie Group Ltd  | 106200 | 18244333 |
| Materials - 3.5% |  |  |
| Metals & Mining - 3.5% |  |  |
| Glencore PLC  | 9414907 | 73171133 |
| Rio Tinto PLC  | 818907 | 82493890 |
| TOTAL MATERIALS |  | 155665023 |
| TOTAL AUSTRALIA |  | 173909356 |
| BELGIUM - 2.0%  |  |  |
| Financials - 1.7% |  |  |
| Banks - 1.7% |  |  |
| KBC Group NV  | 569697 | 75721768 |
| Health Care - 0.3% |  |  |
| Pharmaceuticals - 0.3% |  |  |
| UCB SA (a) | 49191 | 13347874 |
| TOTAL BELGIUM |  | 89069642 |
| DENMARK - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Air Freight & Logistics - 0.6% |  |  |
| DSV A/S  | 112312 | 27490832 |
| FINLAND - 2.3%  |  |  |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Mandatum Holding Oy  | 616537 | 4927707 |
| Sampo Oyj A Shares  | 2772710 | 28811894 |
| TOTAL FINANCIALS |  | 33739601 |
| Information Technology - 1.0% |  |  |
| Communications Equipment - 1.0% |  |  |
| Nokia Oyj  | 3449700 | 42936892 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Fortum Oyj  | 1104368 | 27789274 |
| TOTAL FINLAND |  | 104465767 |
| FRANCE - 8.9%  |  |  |
| Communication Services - 1.6% |  |  |
| Diversified Telecommunication Services - 1.2% |  |  |
| Orange SA  | 2556400 | 53230261 |
| Entertainment - 0.2% |  |  |
| Vivendi SE  | 3722937 | 8691171 |
| Media - 0.2% |  |  |
| Canal+ SA  | 2685068 | 8381602 |
| TOTAL COMMUNICATION SERVICES |  | 70303034 |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| Danone SA  | 283422 | 22205561 |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| TotalEnergies SE  | 421546 | 39228526 |
| Financials - 3.0% |  |  |
| Banks - 1.2% |  |  |
| BNP Paribas SA  | 525079 | 55144593 |
| Insurance - 1.8% |  |  |
| AXA SA  | 1596015 | 76936375 |
| TOTAL FINANCIALS |  | 132080968 |
| Industrials - 1.2% |  |  |
| Building Products - 0.8% |  |  |
| Cie de Saint-Gobain SA  | 399468 | 36599209 |
| Trading Companies & Distributors - 0.4% |  |  |
| Rexel SA  | 372300 | 15625328 |
| TOTAL INDUSTRIALS |  | 52224537 |
| Materials - 1.2% |  |  |
| Chemicals - 1.2% |  |  |
| Air Liquide SA  | 253643 | 54568859 |
| Utilities - 0.6% |  |  |
| Multi-Utilities - 0.6% |  |  |
| Veolia Environnement SA  | 638200 | 26988971 |
| TOTAL FRANCE |  | 397600456 |
| GERMANY - 10.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Automobiles - 0.5% |  |  |
| Bayerische Motoren Werke AG  | 255231 | 23341081 |
| Financials - 2.8% |  |  |
| Banks - 0.4% |  |  |
| Commerzbank AG  | 382321 | 15799116 |
| Capital Markets - 0.4% |  |  |
| Deutsche Bank AG  | 273254 | 8498671 |
| Deutsche Boerse AG  | 36009 | 11047485 |
|  |  | 19546156 |
| Insurance - 2.0% |  |  |
| Hannover Rueck SE  | 146841 | 44394768 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 77644 | 46547611 |
|  |  | 90942379 |
| TOTAL FINANCIALS |  | 126287651 |
| Health Care - 1.3% |  |  |
| Health Care Providers & Services - 0.8% |  |  |
| Fresenius SE & Co KGaA  | 666852 | 32295383 |
| Pharmaceuticals - 0.5% |  |  |
| Bayer AG  | 542277 | 24216671 |
| TOTAL HEALTH CARE |  | 56512054 |
| Industrials - 4.2% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| Rheinmetall AG  | 32746 | 52106571 |
| Air Freight & Logistics - 1.0% |  |  |
| Deutsche Post AG  | 787284 | 46618434 |
| Industrial Conglomerates - 1.8% |  |  |
| Siemens AG  | 270339 | 80334254 |
| Machinery - 0.2% |  |  |
| Daimler Truck Holding AG  | 187583 | 9461298 |
| TOTAL INDUSTRIALS |  | 188520557 |
| Materials - 0.4% |  |  |
| Chemicals - 0.1% |  |  |
| BASF SE  | 42905 | 2751781 |
| Construction Materials - 0.3% |  |  |
| Heidelberg Materials AG  | 60700 | 13393046 |
| TOTAL MATERIALS |  | 16144827 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Vonovia SE  | 721946 | 19451542 |
| Utilities - 1.3% |  |  |
| Independent Power and Renewable Electricity Producers - 1.3% |  |  |
| RWE AG  | 787507 | 57340417 |
| TOTAL GERMANY |  | 487598129 |
| HONG KONG - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Insurance - 1.3% |  |  |
| Prudential PLC  | 3915947 | 59011554 |
| Prudential PLC rights (a)(b) | 3035447 | 575798 |
| TOTAL HONG KONG |  | 59587352 |
| INDIA - 0.4%  |  |  |
| Energy - 0.4% |  |  |
| Oil, Gas & Consumable Fuels - 0.4% |  |  |
| Reliance Industries Ltd GDR (d) | 331100 | 19998440 |
| INDONESIA - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| Bank Central Asia Tbk PT  | 9693789 | 3286585 |
| ISRAEL - 0.6%  |  |  |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (a) | 714092 | 25043206 |
| ITALY - 4.8%  |  |  |
| Energy - 1.4% |  |  |
| Oil, Gas & Consumable Fuels - 1.4% |  |  |
| Eni SpA  | 2173474 | 61458051 |
| Financials - 2.6% |  |  |
| Banks - 2.2% |  |  |
| BPER Banca SPA  | 2327100 | 34232872 |
| UniCredit SpA  | 809135 | 62531884 |
|  |  | 96764756 |
| Insurance - 0.4% |  |  |
| Generali  | 354100 | 15867926 |
| TOTAL FINANCIALS |  | 112632682 |
| Industrials - 0.8% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Prysmian SpA  | 154599 | 23515933 |
| Passenger Airlines - 0.3% |  |  |
| Ryanair Holdings PLC ADR  | 261655 | 14299446 |
| TOTAL INDUSTRIALS |  | 37815379 |
| TOTAL ITALY |  | 211906112 |
| JAPAN - 20.7%  |  |  |
| Communication Services - 0.2% |  |  |
| Interactive Media & Services - 0.2% |  |  |
| LY Corp  | 3059356 | 8046800 |
| Consumer Discretionary - 3.4% |  |  |
| Automobiles - 1.9% |  |  |
| Toyota Motor Corp  | 4322983 | 82981464 |
| Household Durables - 1.5% |  |  |
| Panasonic Holdings Corp  | 2552400 | 52211409 |
| Sumitomo Forestry Co Ltd (c) | 1645138 | 14867341 |
|  |  | 67078750 |
| TOTAL CONSUMER DISCRETIONARY |  | 150060214 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Inpex Corp  | 1096359 | 28582277 |
| Financials - 8.2% |  |  |
| Banks - 5.5% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 7287624 | 130906428 |
| Sumitomo Mitsui Financial Group Inc  | 3163005 | 111682715 |
|  |  | 242589143 |
| Financial Services - 1.3% |  |  |
| ORIX Corp  | 1684267 | 56686518 |
| Insurance - 1.4% |  |  |
| Tokio Marine Holdings Inc  | 1315493 | 60245331 |
| TOTAL FINANCIALS |  | 359520992 |
| Industrials - 5.3% |  |  |
| Industrial Conglomerates - 1.3% |  |  |
| Hitachi Ltd  | 1871486 | 59510165 |
| Machinery - 1.3% |  |  |
| MINEBEA MITSUMI Inc  | 946941 | 18932251 |
| Mitsubishi Heavy Industries Ltd  | 1358573 | 40547832 |
|  |  | 59480083 |
| Trading Companies & Distributors - 2.7% |  |  |
| ITOCHU Corp  | 3978130 | 49301402 |
| Mitsui & Co Ltd  | 1781722 | 66896423 |
|  |  | 116197825 |
| TOTAL INDUSTRIALS |  | 235188073 |
| Information Technology - 1.7% |  |  |
| IT Services - 0.2% |  |  |
| TIS Inc  | 414308 | 9029855 |
| Semiconductors & Semiconductor Equipment - 1.4% |  |  |
| Renesas Electronics Corp  | 2387077 | 48273018 |
| Rohm Co Ltd  | 716200 | 15494958 |
|  |  | 63767976 |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| FUJIFILM Holdings Corp  | 176949 | 3256506 |
| TOTAL INFORMATION TECHNOLOGY |  | 76054337 |
| Materials - 0.9% |  |  |
| Chemicals - 0.9% |  |  |
| Shin-Etsu Chemical Co Ltd  | 909553 | 41877822 |
| Real Estate - 0.4% |  |  |
| Real Estate Management & Development - 0.4% |  |  |
| Sumitomo Realty & Development Co Ltd  | 600000 | 18599767 |
| TOTAL JAPAN |  | 917930282 |
| KOREA (SOUTH) - 0.4%  |  |  |
| Information Technology - 0.4% |  |  |
| Technology Hardware, Storage & Peripherals - 0.4% |  |  |
| Samsung Electronics Co Ltd  | 131340 | 19905144 |
| PORTUGAL - 0.7%  |  |  |
| Energy - 0.7% |  |  |
| Oil, Gas & Consumable Fuels - 0.7% |  |  |
| Galp Energia SGPS SA  | 1355300 | 31749331 |
| SINGAPORE - 1.8%  |  |  |
| Communication Services - 0.7% |  |  |
| Diversified Telecommunication Services - 0.7% |  |  |
| Singapore Telecommunications Ltd  | 8559112 | 30999379 |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| United Overseas Bank Ltd  | 1697916 | 48355051 |
| TOTAL SINGAPORE |  | 79354430 |
| SOUTH AFRICA - 1.1%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Thungela Resources Ltd (United Kingdom)  | 199681 | 1741699 |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| Anglo American PLC  | 726507 | 35951183 |
| Valterra Platinum Ltd (United Kingdom)  | 129293 | 10476956 |
| TOTAL MATERIALS |  | 46428139 |
| TOTAL SOUTH AFRICA |  | 48169838 |
| SPAIN - 4.8%  |  |  |
| Financials - 4.8% |  |  |
| Banks - 4.8% |  |  |
| Banco Santander SA  | 13873131 | 169009239 |
| Bankinter SA  | 2633441 | 43780304 |
| TOTAL SPAIN |  | 212789543 |
| SWEDEN - 1.8%  |  |  |
| Financials - 1.8% |  |  |
| Financial Services - 1.8% |  |  |
| Investor AB B Shares  | 2012453 | 81084457 |
| SWITZERLAND - 2.7%  |  |  |
| Financials - 2.7% |  |  |
| Capital Markets - 0.3% |  |  |
| UBS Group AG (United States)  | 363700 | 15966430 |
| Insurance - 2.4% |  |  |
| Swiss Life Holding AG  | 23837 | 27969235 |
| Zurich Insurance Group AG  | 112728 | 78596249 |
|  |  | 106565484 |
| TOTAL SWITZERLAND |  | 122531914 |
| UNITED KINGDOM - 17.2%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Household Durables - 0.7% |  |  |
| Barratt Redrow PLC  | 9210548 | 31368855 |
| Specialty Retail - 0.1% |  |  |
| JD Sports Fashion PLC  | 3831170 | 3508527 |
| TOTAL CONSUMER DISCRETIONARY |  | 34877382 |
| Consumer Staples - 3.6% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Tesco PLC  | 1688104 | 11073110 |
| Tobacco - 3.4% |  |  |
| British American Tobacco PLC  | 1549580 | 91262251 |
| Imperial Brands PLC  | 1482233 | 56313991 |
|  |  | 147576242 |
| TOTAL CONSUMER STAPLES |  | 158649352 |
| Financials - 7.0% |  |  |
| Banks - 5.7% |  |  |
| HSBC Holdings PLC  | 5157282 | 94893091 |
| Lloyds Banking Group PLC  | 75647975 | 102828525 |
| Standard Chartered PLC  | 2282025 | 58111377 |
|  |  | 255832993 |
| Capital Markets - 0.6% |  |  |
| London Stock Exchange Group PLC  | 107700 | 13995790 |
| St James's Place PLC  | 654800 | 10857068 |
|  |  | 24852858 |
| Insurance - 0.7% |  |  |
| Beazley PLC  | 1896407 | 32927637 |
| TOTAL FINANCIALS |  | 313613488 |
| Health Care - 2.6% |  |  |
| Pharmaceuticals - 2.6% |  |  |
| Astrazeneca PLC  | 195825 | 37167078 |
| GSK PLC  | 3014481 | 79032080 |
| TOTAL HEALTH CARE |  | 116199158 |
| Industrials - 2.0% |  |  |
| Aerospace & Defense - 2.0% |  |  |
| BAE Systems PLC  | 2260953 | 62885154 |
| Rolls-Royce Holdings PLC  | 1562322 | 25140198 |
| TOTAL INDUSTRIALS |  | 88025352 |
| Utilities - 1.2% |  |  |
| Electric Utilities - 1.2% |  |  |
| SSE PLC  | 1475400 | 52825790 |
| TOTAL UNITED KINGDOM |  | 764190522 |
| UNITED STATES - 10.8%  |  |  |
| Consumer Staples - 0.8% |  |  |
| Food Products - 0.8% |  |  |
| Nestle SA  | 334160 | 33830239 |
| Energy - 3.5% |  |  |
| Oil, Gas & Consumable Fuels - 3.5% |  |  |
| BP PLC  | 3521909 | 27878850 |
| Shell PLC ADR  | 1420302 | 128778782 |
| TOTAL ENERGY |  | 156657632 |
| Health Care - 2.3% |  |  |
| Pharmaceuticals - 2.3% |  |  |
| Roche Holding AG  | 246629 | 100501278 |
| Industrials - 0.5% |  |  |
| Trading Companies & Distributors - 0.5% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 97391 | 25723064 |
| Materials - 3.7% |  |  |
| Chemicals - 0.6% |  |  |
| Linde PLC  | 58437 | 29285118 |
| Construction Materials - 3.1% |  |  |
| Amrize Ltd  | 378613 | 20719897 |
| CRH PLC  | 674494 | 79873580 |
| Holcim AG  | 380470 | 35355719 |
|  |  | 135949196 |
| TOTAL MATERIALS |  | 165234314 |
| TOTAL UNITED STATES |  | 481946527 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $3,305,555,182) |  | <br> **4359607865** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (e) | 3.69 | 87196563 | 87214002 |
| Fidelity Securities Lending Cash Central Fund (e)(f) | 3.69 | 1063785 | 1063891 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $88,277,893) |  |  | **88277893** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $3,393,833,075)<br>| <br>**4447885758** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **7825501** |
| **NET ASSETS - 100.0%** | **4455711259** |

---

**Legend**

(a) Non-income producing.

(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(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 $19,998,440 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 | 93097776 | 670160966 | 676041768 | 1661367 | (2972) | - | 87214002 | 87196563 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 59945849 | 81295991 | 140180780 | 24949 | 2831 | - | 1063891 | 1063785 | 0.0% |
| Total | 153043625 | 751456957 | 816222548 | 1686316 | (141) | - | 88277893 |  |  |

---

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 | 109349213 | 8381602 | 100967611 | - |
| Consumer Discretionary | 208278677 | 26849608 | 181429069 | - |
| Consumer Staples | 214685152 | 11073110 | 203612042 | - |
| Energy | 339415956 | 221496778 | 117919178 | - |
| Financials | 1699476385 | 626288471 | 1073187914 | - |
| Health Care | 311603570 | 200276107 | 111327463 | - |
| Industrials | 654987794 | 135245241 | 519742553 | - |
| Information Technology | 138896373 | 42936892 | 95959481 | - |
| Materials | 479918984 | 140355551 | 339563433 | - |
| Real Estate | 38051309 | - | 38051309 | - |
| Utilities | 164944452 | 27789274 | 137155178 | - |
|  **Money Market Funds** | 88277893 | 88277893 | - | - |
| **Total Investments in Securities:** | 4447885758 | 1528970527 | 2918915231 | - |

---

**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 $1,009,686) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $3,305,555,182) | $4359607865 |  |
| Fidelity Central Funds (cost $88,277,893) | 88277893 |  |
| Total Investment in Securities (cost $3,393,833,075) |  | $4447885758 |
| Foreign currency held at value (cost $2,050,217) |  | 2050640 |
| Receivable for investments sold |  | 10725060 |
| Receivable for fund shares sold |  | 9224804 |
| Dividends receivable |  | 21454249 |
| Reclaims receivable |  | 8180568 |
| Distributions receivable from Fidelity Central Funds |  | 292565 |
| Prepaid expenses |  | 702 |
| **Total assets** |  | 4499814346 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $21168868 |  |
| Delayed delivery | 584562 |  |
| Payable for fund shares redeemed | 18627456 |  |
| Accrued management fee | 2575019 |  |
| Distribution and service plan fees payable | 24449 |  |
| Other payables and accrued expenses | 61673 |  |
| Collateral on securities loaned | 1061060 |  |
| **Total liabilities** |  | 44103087 |
| **Net Assets**  |  | $4455711259 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $3451105220 |
| Total accumulated earnings (loss) |  | 1004606039 |
| **Net Assets** |  | $4455711259 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($66,075,260 ÷ 4,413,116 shares)(a) |  | $14.97 |
| Maximum offering price per share (100/94.25 of $14.97) |  | $15.88 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($9,041,377 ÷ 603,077 shares)(a) |  | $14.99 |
| Maximum offering price per share (100/96.50 of $14.99) |  | $15.53 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($8,349,309 ÷ 555,632 shares)(a) |  | $15.03 |
| **International Value :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,489,232,162 ÷ 166,119,610 shares) |  | $14.98 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($623,116,048 ÷ 41,573,742 shares) |  | $14.99 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,259,897,103 ÷ 84,047,437 shares) |  | $14.99 |
| *(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  |  | $54863054 |
| Interest  |  | 4777 |
| Income from Fidelity Central Funds (including $24,949 from security lending)  |  | 1686316 |
| Income before foreign taxes withheld |  | $56554147 |
| Less foreign taxes withheld |  | (3502864) |
| **Total income** |  | 53051283 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $13864852 |  |
| Performance adjustment | (357883) |  |
| Distribution and service plan fees | 139487 |  |
| Custodian fees and expenses | 96238 |  |
| Independent trustees' fees and expenses | 5229 |  |
| Registration fees | 265042 |  |
| Audit fees | 31763 |  |
| Legal | 1744 |  |
| Miscellaneous | 4366 |  |
| Total expenses before reductions | 14050838 |  |
| Expense reductions | (948) |  |
| Total expenses after reductions |  | 14049890 |
| **Net Investment income (loss)** |  | 39001393 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 20440486 |  |
| Fidelity Central Funds | (141) |  |
| Foreign currency transactions | (540277) |  |
| Total net realized gain (loss) |  | 19900068 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 356342007 |  |
| Assets and liabilities in foreign currencies | 779990 |  |
| Total change in net unrealized appreciation (depreciation) |  | 357121997 |
| **Net gain (loss)** |  | 377022065 |
| **Net increase (decrease) in net assets resulting from operations** |  | $416023458 |

---

---

| | | |
|:---|:---|:---|
| **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) | $39001393 | $63945434 |
| &nbsp;&nbsp;Net realized gain (loss) | 19900068<br>| 34280179<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 357121997 | 485844462<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 416023458<br>| 584070075<br>|
| Distributions to shareholders | (78144014)<br>| (42013169)<br>|
| Share transactions - net increase (decrease) | 1056850228<br>| 1046640484<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1394729672<br>| 1588697390<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 3060981587 | 1472284197<br>|
| &nbsp;&nbsp;End of period | $4455711259 | $3060981587 |

---

**Financial Highlights** 

**Fidelity Advisor® International Value 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  | $13.66 | $10.70 | $8.85 | $7.64 | $9.65 | $6.87 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .32  | .22  | .20  | .24  | .25 C |
| Net realized and unrealized gain (loss)  | 1.49  | 2.89  | 1.81  | 1.15  | (1.87)  | 2.66  |
| Total from investment operations  | 1.62  | 3.21  | 2.03  | 1.35  | (1.63)  | 2.91  |
| Distributions from net investment income  | (.31)  | (.25)  | (.18)  | (.14)  | (.38)  | (.13)  |
| Total distributions  | (.31)  | (.25)  | (.18)  | (.14)  | (.38)  | (.13)  |
| Net asset value, end of period  | $14.97 | $13.66 | $10.70 | $8.85 | $7.64 | $9.65 |
| **Total Return** D,E,F | 12.01% <br>| 30.75%  | 23.18%  | 17.72%  | (17.43)%  | 42.56%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.05% I | 1.09%  | 1.15%  | 1.33%  | 1.46%  | 1.37%  |
| Expenses net of fee waivers, if any  | 1.05% I<br>| 1.09%  | 1.14%  | 1.29%  | 1.30%  | 1.33%  |
| Expenses net of all reductions, if any  | 1.05% I | 1.09%  | 1.14%  | 1.29%  | 1.30%  | 1.33%  |
| Net investment income (loss)  | 1.77% I | 2.64%  | 2.12%  | 2.21%  | 2.85%  | 2.77% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $66075 | $52344 | $20609 | $17133 | $12080 | $10566 |
| Portfolio turnover rate J | 33% I<br>| 31%  | 29%  | 29%  | 25%  | 29% K |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.73%.*

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

**Fidelity Advisor® International Value 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  | $13.65 | $10.69 | $8.84 | $7.63 | $9.63 | $6.86 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .29  | .19  | .18  | .22  | .23 C |
| Net realized and unrealized gain (loss)  | 1.50  | 2.89  | 1.81  | 1.15  | (1.87)  | 2.65  |
| Total from investment operations  | 1.61  | 3.18  | 2.00  | 1.33  | (1.65)  | 2.88  |
| Distributions from net investment income  | (.27)  | (.22)  | (.15)  | (.12)  | (.35)  | (.11)  |
| Total distributions  | (.27)  | (.22)  | (.15)  | (.12)  | (.35)  | (.11)  |
| Net asset value, end of period  | $14.99 | $13.65 | $10.69 | $8.84 | $7.63 | $9.63 |
| **Total Return** D,E,F | 11.94% <br>| 30.38%  | 22.87%  | 17.45%  | (17.65)%  | 42.20%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.30% I | 1.34%  | 1.39%  | 1.59%  | 1.72%  | 1.62%  |
| Expenses net of fee waivers, if any  | 1.30% I<br>| 1.34%  | 1.39%  | 1.54%  | 1.55%  | 1.58%  |
| Expenses net of all reductions, if any  | 1.30% I | 1.34%  | 1.39%  | 1.54%  | 1.55%  | 1.58%  |
| Net investment income (loss)  | 1.52% I | 2.39%  | 1.88%  | 1.97%  | 2.60%  | 2.51% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $9041 | $9701 | $4730 | $4196 | $3498 | $4375 |
| Portfolio turnover rate J | 33% I<br>| 31%  | 29%  | 29%  | 25%  | 29% K |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.48%.*

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

**Fidelity Advisor® International Value 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  | $13.70 | $10.72 | $8.85 | $7.64 | $9.60 | $6.85 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .23  | .14  | .13  | .18  | .18 C |
| Net realized and unrealized gain (loss)  | 1.51  | 2.91  | 1.83  | 1.15  | (1.87)  | 2.65  |
| Total from investment operations  | 1.58  | 3.14  | 1.97  | 1.28  | (1.69)  | 2.83  |
| Distributions from net investment income  | (.25)  | (.16)  | (.10)  | (.07)  | (.27)  | (.08)  |
| Total distributions  | (.25)  | (.16)  | (.10)  | (.07)  | (.27)  | (.08)  |
| Net asset value, end of period  | $15.03 | $13.70 | $10.72 | $8.85 | $7.64 | $9.60 |
| **Total Return** D,E,F | 11.64% <br>| 29.70%  | 22.44%  | 16.74%  | (18.01)%  | 41.45%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.80% I | 1.83%  | 1.88%  | 2.09%  | 2.23%  | 2.12%  |
| Expenses net of fee waivers, if any  | 1.80% I<br>| 1.83%  | 1.88%  | 2.05%  | 2.05%  | 2.09%  |
| Expenses net of all reductions, if any  | 1.80% I | 1.83%  | 1.88%  | 2.05%  | 2.05%  | 2.09%  |
| Net investment income (loss)  | 1.02% I | 1.90%  | 1.38%  | 1.46%  | 2.09%  | 2.00% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $8349 | $6779 | $2365 | $2366 | $2190 | $3177 |
| Portfolio turnover rate J | 33% I<br>| 31%  | 29%  | 29%  | 25%  | 29% K |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .97%.*

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

**Fidelity® 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  | $13.67 | $10.72 | $8.86 | $7.65 | $9.66 | $6.87 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .35  | .25  | .22  | .26  | .28 C |
| Net realized and unrealized gain (loss)  | 1.49  | 2.89  | 1.81  | 1.15  | (1.86)  | 2.66  |
| Total from investment operations  | 1.64  | 3.24  | 2.06  | 1.37  | (1.60)  | 2.94  |
| Distributions from net investment income  | (.33)  | (.29)  | (.20)  | (.16)  | (.41)  | (.15)  |
| Total distributions  | (.33)  | (.29)  | (.20)  | (.16)  | (.41)  | (.15)  |
| Net asset value, end of period  | $14.98 | $13.67 | $10.72 | $8.86 | $7.65 | $9.66 |
| **Total Return** D,E | 12.18% <br>| 31.12%  | 23.58%  | 17.96%  | (17.20)%  | 43.08%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .75% H | .80%  | .89%  | 1.01%  | 1.13%  | 1.01%  |
| Expenses net of fee waivers, if any  | .75% H<br>| .80%  | .89%  | 1.01%  | 1.05%  | 1.01%  |
| Expenses net of all reductions, if any  | .75% H | .80%  | .89%  | 1.01%  | 1.05%  | 1.01%  |
| Net investment income (loss)  | 2.06% H | 2.92%  | 2.37%  | 2.50%  | 3.10%  | 3.09% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2489232 | $1677259 | $885896 | $443836 | $367478 | $372441 |
| Portfolio turnover rate I | 33% H<br>| 31%  | 29%  | 29%  | 25%  | 29% J |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.05%.*

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.*

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

**Fidelity Advisor® International Value 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  | $13.68 | $10.73 | $8.87 | $7.66 | $9.67 | $6.88 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .35  | .24  | .22  | .25  | .28 C |
| Net realized and unrealized gain (loss)  | 1.50  | 2.89  | 1.82  | 1.15  | (1.86)  | 2.66  |
| Total from investment operations  | 1.65  | 3.24  | 2.06  | 1.37  | (1.61)  | 2.94  |
| Distributions from net investment income  | (.34)  | (.29)  | (.20)  | (.16)  | (.40)  | (.15)  |
| Total distributions  | (.34)  | (.29)  | (.20)  | (.16)  | (.40)  | (.15)  |
| Net asset value, end of period  | $14.99 | $13.68 | $10.73 | $8.87 | $7.66 | $9.67 |
| **Total Return** D,E | 12.24% <br>| 31.05%  | 23.55%  | 17.97%  | (17.23)%  | 43.05%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .80% H | .84%  | .92%  | 1.02%  | 1.09%  | 1.07%  |
| Expenses net of fee waivers, if any  | .80% H<br>| .84%  | .92%  | 1.01%  | 1.04%  | 1.05%  |
| Expenses net of all reductions, if any  | .80% H | .84%  | .92%  | 1.01%  | 1.04%  | 1.05%  |
| Net investment income (loss)  | 2.02% H | 2.88%  | 2.34%  | 2.50%  | 3.10%  | 3.05% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $623116 | $408520 | $164277 | $91052 | $74751 | $6661 |
| Portfolio turnover rate I | 33% H<br>| 31%  | 29%  | 29%  | 25%  | 29% J |

---

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 $.10 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.01%.*

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.*

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

**Fidelity Advisor® International Value 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  | $13.69 | $10.74 | $8.88 | $7.66 | $9.67 | $6.87 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .15  | .36  | .26  | .24  | .26  | .30 C |
| Net realized and unrealized gain (loss)  | 1.50  | 2.89  | 1.82  | 1.15  | (1.86)  | 2.65  |
| Total from investment operations  | 1.65  | 3.25  | 2.08  | 1.39  | (1.60)  | 2.95  |
| Distributions from net investment income  | (.35)  | (.30)  | (.22)  | (.17)  | (.41)  | (.15)  |
| Total distributions  | (.35)  | (.30)  | (.22)  | (.17)  | (.41)  | (.15)  |
| Net asset value, end of period  | $14.99 | $13.69 | $10.74 | $8.88 | $7.66 | $9.67 |
| **Total Return** D,E | 12.23% <br>| 31.21%  | 23.71%  | 18.20%  | (17.13)%  | 43.35%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .68% H | .73%  | .79%  | .87%  | .94%  | .89%  |
| Expenses net of fee waivers, if any  | .68% H<br>| .73%  | .79%  | .86%  | .89%  | .89%  |
| Expenses net of all reductions, if any  | .68% H | .72%  | .79%  | .86%  | .89%  | .89%  |
| Net investment income (loss)  | 2.13% H | 3.00%  | 2.47%  | 2.65%  | 3.25%  | 3.21% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1259897 | $906379 | $394406 | $158601 | $118176 | $11946 |
| Portfolio turnover rate I | 33% H<br>| 31%  | 29%  | 29%  | 25%  | 29% J |

---

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 $.10 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.17%.*

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.*

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 International Value 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, International Value, 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 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 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 taxes withheld. 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.

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** | $1109289058 |
| **Gross unrealized depreciation** | <u>(95121574)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$1014167484</u> |
| **Tax cost** | <u>$3433718274</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 | $(41801869) |
| Long-term | <u>(7917340)</u> |
| **Total capital loss carryforward** | <u>$(49719209)</u> |

---

Due to large redemptions in a prior period, $21,132,092 of capital losses that will be available to offset future capital gains of the Fund will be limited to approximately $5,836,972 per year.

**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 International Value Fund** | 1603757428 | 611431445 |

---

**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** | .88 |
| **Class M** | .88 |
| **Class C** | .88 |
| **International Value** | .87 |
| **Class I** | .87 |
| **Class Z** | .72 |

---

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** | .80 |
| **Class M** | .80 |
| **Class C** | .79 |
| **International Value** | .75 |
| **Class I** | .79 |
| **Class Z** | .68 |

---

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 International Value Fund** | MSCI EAFE Value Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of International Value. 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 ±.20% 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% | 76291 | 9804 |
| **Class M** | .25% | .25% | 25072 | 294 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>38124</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>9016</u> |
|  |  |  | <u>139487</u> | <u>19114</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** | 39255 |
| **Class M** | 485 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>50</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>39790</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 International Value Fund** | 242 |

---

**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 International Value Fund** | 97561553 | 18037202 | 992135 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Value Fund** | 15675 |

---

**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 International Value Fund** | 2253 |

---

**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 International Value Fund** | 2647 | - | - |

---

**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 $948.

**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 International Value Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1221591 | $488630 |
| Class M | 184652 | 96338 |
| Class C | 123503 | 33393 |
| International Value | 42050085 | 24793093 |
| Class I | 10792781 | 4958469 |
| Class Z | <u>23771402</u> | <u>11643246</u> |
| Total  | <u>$78144014</u> | <u>$42013169</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 International Value Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 1188346 | 2656161 | $17202053 | $32469471 |
| Reinvestment of distributions  | 87950 | 46752 | 1218108 | 485618 |
| Shares redeemed | <u>(696167)</u> | <u>(795907)</u> | <u>(9981282)</u> | <u>(9912166)</u> |
| Net increase (decrease) | <u>580129</u> | <u>1907006</u> | <u>$8438879</u> | <u>$23042923</u> |
| **Class M** |  |  |  |  |
| Shares sold | 36302 | 323909 | $526319 | $3994255 |
| Reinvestment of distributions  | 13303 | 9259 | 184652 | 96338 |
| Shares redeemed | <u>(157001)</u> | <u>(65009)</u> | <u>(2278824)</u> | <u>(793067)</u> |
| Net increase (decrease) | <u>(107396)</u> | <u>268159</u> | <u>$(1567853)</u> | <u>$3297526</u> |
| **Class C** |  |  |  |  |
| Shares sold | 168751 | 366525 | $2443576 | $4632287 |
| Reinvestment of distributions  | 8860 | 3198 | 123503 | 33393 |
| Shares redeemed | <u>(116924)</u> | <u>(95533)</u> | <u>(1663993)</u> | <u>(1199228)</u> |
| Net increase (decrease) | <u>60687</u> | <u>274190</u> | <u>$903086</u> | <u>$3466452</u> |
| **International Value** |  |  |  |  |
| Shares sold | 65926769 | 95253860 | $950141569 | $1156005757 |
| Reinvestment of distributions  | 2346011 | 1839614 | 32468791 | 19105277 |
| Shares redeemed | <u>(24862989)</u> | <u>(57010781)</u> | <u>(358329332)</u> | <u>(705469583)</u> |
| Net increase (decrease) | <u>43409791</u> | <u>40082693</u> | <u>$624281028</u> | <u>$469641451</u> |
| **Class I** |  |  |  |  |
| Shares sold | 15518660 | 21393351 | $224738653 | $262720600 |
| Reinvestment of distributions  | 772291 | 467850 | 10696236 | 4863643 |
| Shares redeemed | <u>(4572343)</u> | <u>(7309810)</u> | <u>(66171986)</u> | <u>(86076089)</u> |
| Net increase (decrease) | <u>11718608</u> | <u>14551391</u> | <u>$169262903</u> | <u>$181508154</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 28482281 | 43471460 | $410586941 | $531900267 |
| Reinvestment of distributions  | 1356217 | 853657 | 18770041 | 8868907 |
| Shares redeemed | <u>(12021290)</u> | <u>(14823952)</u> | <u>(173824797)</u> | <u>(175085196)</u> |
| Net increase (decrease) | <u>17817208</u> | <u>29501165</u> | <u>$255532185</u> | <u>$365683978</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.

![](img131273_4.jpg)<br>

1.827485.119 FIV-SANN-0626

**Fidelity® International Small Cap Opportunities Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131275_1.jpg)

![](img131275_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ILS-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Small Cap Opportunities Fund](#Sub_Sec_Fund_1504_ILS-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1504_ILS-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ILS-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ILS-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ILS-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ILS-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® International Small Cap Opportunities 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%  |  |  |
| Energy - 0.3% |  |  |
| Oil, Gas & Consumable Fuels - 0.3% |  |  |
| Whitehaven Coal Ltd  | 860000 | 5255143 |
| Financials - 1.3% |  |  |
| Financial Services - 0.3% |  |  |
| Cuscal Ltd  | 1332000 | 4523899 |
| Insurance - 1.0% |  |  |
| AUB Group Ltd  | 145999 | 2719067 |
| Steadfast Group Ltd  | 4637460 | 14264053 |
|  |  | 16983120 |
| TOTAL FINANCIALS |  | 21507019 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Imdex Ltd  | 7777574 | 22878343 |
| Real Estate - 0.1% |  |  |
| Retail REITs - 0.1% |  |  |
| Charter Hall Retail REIT  | 552544 | 1567785 |
| TOTAL AUSTRALIA |  | 51208290 |
| BELGIUM - 3.2%  |  |  |
| Financials - 2.3% |  |  |
| Banks - 2.3% |  |  |
| KBC Ancora  | 411398 | 37516455 |
| Health Care - 0.3% |  |  |
| Health Care Providers & Services - 0.3% |  |  |
| Fagron  | 179000 | 5042000 |
| Information Technology - 0.3% |  |  |
| Semiconductors & Semiconductor Equipment - 0.3% |  |  |
| Melexis NV (d) | 54000 | 4521956 |
| Real Estate - 0.3% |  |  |
| Industrial REITs - 0.3% |  |  |
| Warehouses De Pauw CVA  | 196000 | 5152793 |
| Warehouses De Pauw CVA rights (b)(c) | 196000 | 282944 |
| TOTAL REAL ESTATE |  | 5435737 |
| TOTAL BELGIUM |  | 52516148 |
| BRAZIL - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Commercial Services & Supplies - 0.4% |  |  |
| Orizon Valorizacao de Residuos SA (b) | 420000 | 6912638 |
| BURKINA FASO - 0.0%  |  |  |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| IAMGOLD Corp (b) | 80000 | 1346338 |
| CANADA - 4.1%  |  |  |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| North West Co Inc/The  | 213000 | 7978386 |
| Energy - 0.3% |  |  |
| Energy Equipment & Services - 0.3% |  |  |
| TerraVest Industries Inc  | 52000 | 5304318 |
| Financials - 0.2% |  |  |
| Capital Markets - 0.2% |  |  |
| Onex Corp Subordinate Voting Shares  | 32000 | 2696212 |
| Industrials - 1.3% |  |  |
| Trading Companies & Distributors - 1.3% |  |  |
| Richelieu Hardware Ltd  | 756763 | 22128779 |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Lumine Group Inc Subordinate Voting Shares (a)(b) | 180000 | 2679427 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| OR Royalties Inc  | 677100 | 24938575 |
| Orla Mining Ltd  | 90000 | 1179372 |
| Triple Flag Precious Metals Corp  | 54000 | 1723738 |
| TOTAL MATERIALS |  | 27841685 |
| TOTAL CANADA |  | 68628807 |
| CHINA - 0.5%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Personal Care Products - 0.2% |  |  |
| Chlitina Holding Ltd  | 1048842 | 3544986 |
| Health Care - 0.3% |  |  |
| Pharmaceuticals - 0.3% |  |  |
| Consun Pharmaceutical Group Ltd  | 1957000 | 4055203 |
| TOTAL CHINA |  | 7600189 |
| EGYPT - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Integrated Diagnostics Holdings PLC (a)(e) | 5696716 | 3190161 |
| FRANCE - 3.9%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Beverages - 0.2% |  |  |
| Laurent-Perrier  | 39163 | 3870140 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Vetoquinol SA  | 121442 | 10974841 |
| Industrials - 2.5% |  |  |
| Aerospace & Defense - 1.6% |  |  |
| Exail Technologies SA (b)(d) | 52000 | 7543283 |
| LISI SA  | 247284 | 18051987 |
|  |  | 25595270 |
| Commercial Services & Supplies - 0.4% |  |  |
| Elis SA  | 241000 | 7427632 |
| Ground Transportation - 0.4% |  |  |
| Stef SA  | 43000 | 5864260 |
| Trading Companies & Distributors - 0.1% |  |  |
| Thermador Groupe  | 26500 | 2152239 |
| TOTAL INDUSTRIALS |  | 41039401 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Robertet SA  | 2200 | 2065624 |
| Real Estate - 0.4% |  |  |
| Industrial REITs - 0.2% |  |  |
| ARGAN SA  | 48000 | 3453348 |
| Retail REITs - 0.2% |  |  |
| Carmila SA  | 169000 | 3367929 |
| TOTAL REAL ESTATE |  | 6821277 |
| TOTAL FRANCE |  | 64771283 |
| GERMANY - 1.9%  |  |  |
| Communication Services - 0.1% |  |  |
| Wireless Telecommunication Services - 0.1% |  |  |
| 1&1 AG  | 49000 | 1296824 |
| Consumer Discretionary - 0.8% |  |  |
| Specialty Retail - 0.8% |  |  |
| Auto1 Group SE (b) | 374000 | 7958075 |
| Fielmann Group AG  | 113000 | 5636454 |
| TOTAL CONSUMER DISCRETIONARY |  | 13594529 |
| Industrials - 0.8% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Montana Aerospace Ag (a)(b)(d)(e) | 83000 | 2177641 |
| Rheinmetall AG  | 4800 | 7637927 |
|  |  | 9815568 |
| Machinery - 0.2% |  |  |
| Stabilus SE  | 190000 | 3839948 |
| TOTAL INDUSTRIALS |  | 13655516 |
| Information Technology - 0.2% |  |  |
| Software - 0.2% |  |  |
| Mensch und Maschine Software SE  | 72095 | 3384572 |
| TOTAL GERMANY |  | 31931441 |
| GREECE - 0.3%  |  |  |
| Industrials - 0.3% |  |  |
| Transportation Infrastructure - 0.3% |  |  |
| Athens International Airport SA  | 473700 | 5398352 |
| INDONESIA - 0.4%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Selamat Sempurna Tbk PT  | 34636000 | 3630477 |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 36901000 | 2823984 |
| TOTAL INDONESIA |  | 6454461 |
| IRELAND - 2.1%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Household Durables - 0.3% |  |  |
| Cairn Homes PLC  | 1685691 | 4316939 |
| Industrials - 1.4% |  |  |
| Building Products - 0.3% |  |  |
| Kingspan Group PLC  | 56000 | 5169224 |
| Machinery - 0.4% |  |  |
| Mincon Group Plc  | 8084693 | 6831792 |
| Trading Companies & Distributors - 0.7% |  |  |
| AerCap Holdings NV  | 78200 | 11120822 |
| TOTAL INDUSTRIALS |  | 23121838 |
| Real Estate - 0.4% |  |  |
| Residential REITs - 0.4% |  |  |
| Irish Residential Properties Reit PLC  | 5454557 | 6862666 |
| TOTAL IRELAND |  | 34301443 |
| ISRAEL - 2.1%  |  |  |
| Financials - 1.1% |  |  |
| Capital Markets - 1.1% |  |  |
| Tel Aviv Stock Exchange Ltd  | 345296 | 17418545 |
| Information Technology - 1.0% |  |  |
| Communications Equipment - 1.0% |  |  |
| Ituran Location and Control Ltd  | 297877 | 17157715 |
| TOTAL ISRAEL |  | 34576260 |
| ITALY - 3.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Pirelli & C SpA (a)(e) | 486000 | 3336804 |
| Financials - 0.4% |  |  |
| Financial Services - 0.4% |  |  |
| BFF Bank SpA (a)(b)(d)(e) | 850000 | 2069028 |
| Generalfinance SpA  | 132788 | 4815661 |
| TOTAL FINANCIALS |  | 6884689 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 49000 | 2854739 |
| Industrials - 2.4% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| doValue SpA (a)(b)(e) | 1160750 | 2860860 |
| Machinery - 2.2% |  |  |
| Interpump Group SpA  | 879640 | 36938896 |
| TOTAL INDUSTRIALS |  | 39799756 |
| TOTAL ITALY |  | 52875988 |
| JAPAN - 29.6%  |  |  |
| Consumer Discretionary - 6.4% |  |  |
| Automobile Components - 0.5% |  |  |
| Niterra Co Ltd  | 93000 | 5027164 |
| Toyo Tire Corp  | 157000 | 3849345 |
|  |  | 8876509 |
| Distributors - 0.3% |  |  |
| Central Automotive Products Ltd  | 469500 | 5413698 |
| Diversified Consumer Services - 0.5% |  |  |
| Aucnet Inc  | 1062908 | 8183573 |
| Hotels, Restaurants & Leisure - 3.1% |  |  |
| Curves Holdings Co Ltd  | 2642078 | 13818418 |
| Gift Holdings Inc (d) | 350000 | 9873778 |
| Koshidaka Holdings Co Ltd  | 2098675 | 13439542 |
| Metaplanet Inc (b)(d) | 606000 | 1302970 |
| Monogatari Corp/The  | 438700 | 11801025 |
|  |  | 50235733 |
| Leisure Products - 0.4% |  |  |
| Yonex Co Ltd  | 386000 | 6535946 |
| Specialty Retail - 1.6% |  |  |
| Intermestic Inc (d) | 235000 | 3187963 |
| USS Co Ltd  | 2181130 | 23557118 |
|  |  | 26745081 |
| TOTAL CONSUMER DISCRETIONARY |  | 105990540 |
| Consumer Staples - 1.6% |  |  |
| Consumer Staples Distribution & Retail - 1.4% |  |  |
| Blue Zones Holdings Co Ltd  | 264000 | 2938582 |
| Kato Sangyo Co Ltd  | 67000 | 2619394 |
| Qol Holdings Co Ltd (d) | 225000 | 2523311 |
| Tsuruha Holdings Inc (d) | 767000 | 10112877 |
| YAKUODO Holdings Co Ltd  | 411500 | 4643011 |
|  |  | 22837175 |
| Food Products - 0.0% |  |  |
| Iwatsuka Confectionery Co Ltd  | 37800 | 768057 |
| Personal Care Products - 0.2% |  |  |
| Artnature Inc (d) | 521000 | 2684837 |
| TOTAL CONSUMER STAPLES |  | 26290069 |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| Itochu Enex Co Ltd  | 264000 | 3212421 |
| Iwatani Corp  | 415000 | 5101830 |
| San-Ai Obbli Co Ltd  | 840800 | 12372164 |
| TOTAL ENERGY |  | 20686415 |
| Financials - 3.3% |  |  |
| Banks - 3.3% |  |  |
| Bank of Iwate Ltd/The  | 364000 | 4583498 |
| Chiba Bank Ltd/The  | 665000 | 9179135 |
| Hachijuni Nagano Bank Ltd  | 980000 | 13277380 |
| Hokuhoku Financial Group Inc  | 582000 | 22187561 |
| Kyoto Financial Group Inc  | 219200 | 6058939 |
| TOTAL FINANCIALS |  | 55286513 |
| Health Care - 1.2% |  |  |
| Health Care Equipment & Supplies - 0.9% |  |  |
| Medikit Co Ltd  | 291800 | 5557944 |
| Nagaileben Co Ltd  | 745427 | 8085744 |
| Techno Medica Co Ltd  | 80791 | 1135332 |
|  |  | 14779020 |
| Health Care Technology - 0.3% |  |  |
| Software Service Inc  | 59400 | 4282748 |
| TOTAL HEALTH CARE |  | 19061768 |
| Industrials - 7.1% |  |  |
| Building Products - 0.1% |  |  |
| Nitto Boseki Co Ltd  | 11000 | 2021041 |
| Commercial Services & Supplies - 3.4% |  |  |
| CTS Co Ltd  | 269000 | 1488221 |
| Daiei Kankyo Co Ltd  | 941000 | 22604579 |
| Japan Elevator Service Holdings Co Ltd  | 1889200 | 19113163 |
| Midac Holdings Co Ltd (d) | 217704 | 2943041 |
| Park24 Co Ltd  | 487000 | 5726872 |
| Pronexus Inc  | 439797 | 3013055 |
|  |  | 54888931 |
| Construction & Engineering - 1.1% |  |  |
| SHO-BOND Holdings Co Ltd  | 2087600 | 17658400 |
| Machinery - 2.4% |  |  |
| Daifuku Co Ltd  | 140000 | 6121033 |
| Mitsuboshi Belting Ltd  | 117580 | 2962388 |
| Moriya Transportation Engineering & Manufacturing Co Ltd (d) | 363400 | 4820736 |
| Namura Shipbuilding Co Ltd  | 151000 | 3955169 |
| NS Tool Co Ltd  | 648900 | 3602257 |
| Takeuchi Manufacturing Co Ltd  | 100000 | 4507886 |
| Tocalo Co Ltd  | 658636 | 13140414 |
|  |  | 39109883 |
| Professional Services - 0.0% |  |  |
| Funai Soken Holdings Inc  | 46336 | 330586 |
| Trading Companies & Distributors - 0.1% |  |  |
| Mitani Corp  | 143000 | 2371015 |
| TOTAL INDUSTRIALS |  | 116379856 |
| Information Technology - 4.5% |  |  |
| Electronic Equipment, Instruments & Components - 3.3% |  |  |
| Ai Holdings Corp  | 172500 | 2973409 |
| Azbil Corp  | 3935689 | 35026676 |
| Ibiden Co Ltd  | 56000 | 4789689 |
| Rigaku Holdings Corp (d) | 354000 | 6152578 |
| Seikoh Giken Co Ltd (d) | 7000 | 1301730 |
| Shimadzu Corp  | 141000 | 3277613 |
|  |  | 53521695 |
| IT Services - 0.5% |  |  |
| NSD Co Ltd  | 312549 | 5365359 |
| System Support Holdings Inc  | 290000 | 1993729 |
| TechMatrix Corp  | 125000 | 1451258 |
|  |  | 8810346 |
| Semiconductors & Semiconductor Equipment - 0.2% |  |  |
| Shibaura Mechatronics Corp  | 126000 | 3914578 |
| Software - 0.5% |  |  |
| Broadleaf Co Ltd  | 650098 | 3760664 |
| Miroku Jyoho Service Co Ltd  | 156700 | 1710261 |
| Systena Corp  | 861000 | 2355321 |
| VRAIN Solution Inc (b)(d) | 31000 | 651756 |
|  |  | 8478002 |
| TOTAL INFORMATION TECHNOLOGY |  | 74724621 |
| Materials - 2.6% |  |  |
| Chemicals - 2.1% |  |  |
| KeePer Technical Laboratory Co Ltd (d) | 69000 | 1307169 |
| Nihon Parkerizing Co Ltd  | 494678 | 4549165 |
| Nissan Chemical Corp  | 38300 | 1656074 |
| Osaka Soda Co Ltd  | 252000 | 3017228 |
| SK Kaken Co Ltd  | 235400 | 15767985 |
| Toyo Gosei Co Ltd  | 85000 | 8294152 |
|  |  | 34591773 |
| Construction Materials - 0.3% |  |  |
| Maeda Kosen Co Ltd  | 363000 | 4236530 |
| Containers & Packaging - 0.2% |  |  |
| FP Corp  | 102000 | 1506930 |
| Fuji Seal International Inc  | 163000 | 2575908 |
|  |  | 4082838 |
| TOTAL MATERIALS |  | 42911141 |
| Real Estate - 1.4% |  |  |
| Real Estate Management & Development - 1.4% |  |  |
| Arealink Co Ltd  | 500000 | 3217995 |
| Goldcrest Co Ltd  | 442430 | 9431720 |
| Katitas Co Ltd  | 258000 | 5150351 |
| SRE Holdings Corp (d) | 119000 | 2743335 |
| Tokyo Tatemono Co Ltd  | 141000 | 3244520 |
| TOTAL REAL ESTATE |  | 23787921 |
| Utilities - 0.3% |  |  |
| Electric Utilities - 0.3% |  |  |
| Shikoku Electric Power Co Inc  | 481000 | 4788917 |
| TOTAL JAPAN |  | 489907761 |
| KOREA (SOUTH) - 0.6%  |  |  |
| Consumer Staples - 0.4% |  |  |
| Consumer Staples Distribution & Retail - 0.4% |  |  |
| BGF retail Co Ltd  | 79256 | 7129975 |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Seoul Guarantee Insurance Co  | 100000 | 3253878 |
| TOTAL KOREA (SOUTH) |  | 10383853 |
| NETHERLANDS - 4.8%  |  |  |
| Industrials - 2.2% |  |  |
| Construction & Engineering - 0.3% |  |  |
| Koninklijke Heijmans N.V depository receipt (b) | 48000 | 4847644 |
| Machinery - 1.8% |  |  |
| Aalberts NV  | 758197 | 28724613 |
| Aalberts NV rights (b)(c) | 758197 | 1023337 |
|  |  | 29747950 |
| Trading Companies & Distributors - 0.1% |  |  |
| IMCD NV (b)(d) | 20000 | 2350821 |
| TOTAL INDUSTRIALS |  | 36946415 |
| Information Technology - 2.3% |  |  |
| Semiconductors & Semiconductor Equipment - 2.3% |  |  |
| BE Semiconductor Industries NV  | 130418 | 37837690 |
| Real Estate - 0.3% |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| CTP NV (a)(e) | 279000 | 5265369 |
| TOTAL NETHERLANDS |  | 80049474 |
| NORWAY - 2.1%  |  |  |
| Energy - 0.5% |  |  |
| Energy Equipment & Services - 0.5% |  |  |
| TGS ASA  | 526000 | 8544583 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Medistim ASA  | 185242 | 4498737 |
| Industrials - 1.3% |  |  |
| Aerospace & Defense - 1.1% |  |  |
| Kongsberg Gruppen ASA  | 524905 | 17563499 |
| Machinery - 0.2% |  |  |
| Kongsberg Maritime AS  | 524905 | 3440180 |
| TOTAL INDUSTRIALS |  | 21003679 |
| TOTAL NORWAY |  | 34046999 |
| PHILIPPINES - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Transportation Infrastructure - 0.6% |  |  |
| International Container Terminal Services Inc  | 876000 | 10176384 |
| SINGAPORE - 0.4%  |  |  |
| Industrials - 0.2% |  |  |
| Construction & Engineering - 0.2% |  |  |
| Boustead Singapore Ltd  | 1655000 | 3116376 |
| Real Estate - 0.2% |  |  |
| Health Care REITs - 0.2% |  |  |
| Parkway Life Real Estate Investment Trust  | 1063000 | 3363464 |
| TOTAL SINGAPORE |  | 6479840 |
| SPAIN - 1.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| CIE Automotive SA  | 85000 | 2893047 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Viscofan SA  | 51000 | 3591369 |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Clinica Baviera SA (d) | 60000 | 3929380 |
| Industrials - 0.4% |  |  |
| Commercial Services & Supplies - 0.1% |  |  |
| Befesa SA (a)(e) | 66000 | 2532972 |
| Machinery - 0.3% |  |  |
| Fluidra SA  | 184201 | 4299970 |
| TOTAL INDUSTRIALS |  | 6832942 |
| Materials - 0.2% |  |  |
| Containers & Packaging - 0.2% |  |  |
| Vidrala SA  | 31000 | 2797864 |
| TOTAL SPAIN |  | 20044602 |
| SWEDEN - 10.0%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Automobile Components - 0.5% |  |  |
| Autoliv Inc  | 77000 | 8926610 |
| Broadline Retail - 0.4% |  |  |
| Rusta AB  | 582000 | 6354077 |
| Household Durables - 0.1% |  |  |
| JM AB  | 155697 | 1944368 |
| TOTAL CONSUMER DISCRETIONARY |  | 17225055 |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| AddLife AB B Shares  | 373520 | 5781160 |
| Industrials - 5.0% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| INVISIO AB (d) | 338163 | 9742640 |
| Machinery - 0.0% |  |  |
| Beijer Alma AB B Shares  | 1887 | 59168 |
| Trading Companies & Distributors - 4.4% |  |  |
| AddTech AB B Shares  | 1253275 | 45256494 |
| Bergman & Beving AB B Shares  | 798462 | 27025466 |
|  |  | 72281960 |
| TOTAL INDUSTRIALS |  | 82083768 |
| Information Technology - 3.0% |  |  |
| Electronic Equipment, Instruments & Components - 3.0% |  |  |
| Lagercrantz Group AB B Shares  | 1900212 | 49641887 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Alleima AB  | 313000 | 2778192 |
| Real Estate - 0.5% |  |  |
| Real Estate Management & Development - 0.5% |  |  |
| Intea Fastigheter AB B Shares  | 282000 | 2251052 |
| John Mattson Fastighetsforetagen AB  | 942052 | 6009787 |
| TOTAL REAL ESTATE |  | 8260839 |
| TOTAL SWEDEN |  | 165770901 |
| SWITZERLAND - 0.1%  |  |  |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Huber + Suhner AG  | 5000 | 1449414 |
| TAIWAN - 1.4%  |  |  |
| Communication Services - 0.5% |  |  |
| Interactive Media & Services - 0.5% |  |  |
| Addcn Technology Co Ltd  | 1585292 | 7782056 |
| Industrials - 0.2% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Bizlink Holding Inc  | 42000 | 3783313 |
| Information Technology - 0.7% |  |  |
| Semiconductors & Semiconductor Equipment - 0.7% |  |  |
| eMemory Technology Inc  | 94000 | 11942303 |
| TOTAL TAIWAN |  | 23507672 |
| TURKEY - 0.6%  |  |  |
| Industrials - 0.6% |  |  |
| Electrical Equipment - 0.6% |  |  |
| Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS  | 1510000 | 9490813 |
| UNITED KINGDOM - 16.5%  |  |  |
| Communication Services - 1.5% |  |  |
| Diversified Telecommunication Services - 1.3% |  |  |
| Zegona Communications plc  | 870849 | 20879837 |
| Interactive Media & Services - 0.2% |  |  |
| Trustpilot Group PLC (a)(b)(e) | 1235000 | 4376090 |
| TOTAL COMMUNICATION SERVICES |  | 25255927 |
| Consumer Discretionary - 3.2% |  |  |
| Automobile Components - 0.1% |  |  |
| AB Dynamics PLC  | 163000 | 2158136 |
| Broadline Retail - 0.1% |  |  |
| B&M European Value Retail plc  | 821000 | 1870152 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Dp Poland PLC (b) | 18541591 | 2056283 |
| Leisure Products - 2.9% |  |  |
| Games Workshop Group PLC  | 177279 | 47016195 |
| TOTAL CONSUMER DISCRETIONARY |  | 53100766 |
| Energy - 1.0% |  |  |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| DCC PLC  | 210000 | 15830965 |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Metro Bank Holdings PLC (b) | 4551130 | 9239882 |
| Industrials - 6.2% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Avon Technologies PLC  | 284800 | 6681217 |
| Air Freight & Logistics - 0.1% |  |  |
| Ferrari Group PLC  | 224000 | 2139986 |
| Machinery - 2.1% |  |  |
| Bodycote PLC  | 2519526 | 23347711 |
| Spirax Group PLC  | 120691 | 11772026 |
|  |  | 35119737 |
| Marine Transportation - 0.4% |  |  |
| Clarkson PLC  | 91153 | 5998402 |
| Trading Companies & Distributors - 3.2% |  |  |
| Diploma PLC  | 229000 | 21625856 |
| Howden Joinery Group PLC  | 2889700 | 30552878 |
|  |  | 52178734 |
| TOTAL INDUSTRIALS |  | 102118076 |
| Information Technology - 2.2% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Oxford Instruments PLC  | 816100 | 32049263 |
| Software - 0.2% |  |  |
| Pinewood Technologies Group PLC (b)(d) | 1096462 | 3737487 |
| TOTAL INFORMATION TECHNOLOGY |  | 35786750 |
| Materials - 1.5% |  |  |
| Construction Materials - 0.6% |  |  |
| SigmaRoc PLC (b) | 5511910 | 9247909 |
| Metals & Mining - 0.9% |  |  |
| Hill & Smith PLC  | 430000 | 15037648 |
| TOTAL MATERIALS |  | 24285557 |
| Real Estate - 0.4% |  |  |
| Diversified REITs - 0.1% |  |  |
| Shaftesbury Capital PLC  | 2100000 | 3814863 |
| Specialized REITs - 0.3% |  |  |
| Big Yellow Group PLC (The)  | 358000 | 4394079 |
| TOTAL REAL ESTATE |  | 8208942 |
| TOTAL UNITED KINGDOM |  | 273826865 |
| UNITED STATES - 3.3%  |  |  |
| Consumer Discretionary - 1.8% |  |  |
| Hotels, Restaurants & Leisure - 1.8% |  |  |
| InterContinental Hotels Group PLC ADR  | 201150 | 28941462 |
| Consumer Staples - 0.9% |  |  |
| Consumer Staples Distribution & Retail - 0.9% |  |  |
| PriceSmart Inc  | 100060 | 15701415 |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.2% |  |  |
| Legend Biotech Corp ADR (b) | 141000 | 3316320 |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Anteris Technologies Global Corp (b) | 449000 | 2761350 |
| TOTAL HEALTH CARE |  | 6077670 |
| Industrials - 0.2% |  |  |
| Building Products - 0.2% |  |  |
| Reliance Worldwide Corp Ltd  | 1371000 | 3251302 |
| TOTAL UNITED STATES |  | 53971849 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,129,937,048) |  | <br> **1600818226** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**International Equity Funds - 1.0%** | &nbsp;&nbsp;**International Equity Funds - 1.0%** | &nbsp;&nbsp;**International Equity Funds - 1.0%** |
|  | Shares | Value ($)<br>|
| iShares MSCI EAFE Small-Cap ETF (d)<br>(Cost $15,012,125)<br>| 197800 | **16534102** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.8%** | &nbsp;&nbsp;**Money Market Funds - 3.8%** | &nbsp;&nbsp;**Money Market Funds - 3.8%** | &nbsp;&nbsp;**Money Market Funds - 3.8%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 36243770 | 36251018 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 26601976 | 26604636 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $62,855,654) |  |  | **62855654** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.4%**<br> (Cost $1,207,804,827)<br>| <br>**1680207982** |
| **NET OTHER ASSETS (LIABILITIES) - (1.4)%**  | **(23249287)** |
| **NET ASSETS - 100.0%** | **1656958695** |

---

**Security Type Abbreviations**

ETF - EXCHANGE-TRADED FUND

**Legend**

(a) 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 $28,488,352 or 1.7% of net assets.

(b) Non-income producing.

(c) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

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

(e) 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 $25,808,925 or 1.6% of net assets.

(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 | 24628104 | 426799895 | 415177780 | 700163 | 799 | - | 36251018 | 36243770 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 31899291 | 208733966 | 214026896 | 244449 | (1725) | - | 26604636 | 26601976 | 0.1% |
| Total | 56527395 | 635533861 | 629204676 | 944612 | (926) | - | 62855654 |  |  |

---

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 | 34334807 | 26552751 | 7782056 | - |
| Consumer Discretionary | 233029619 | 123408602 | 109621017 | - |
| Consumer Staples | 70930324 | 31141310 | 39789014 | - |
| Energy | 55621424 | 29679866 | 25941558 | - |
| Financials | 153803193 | 73755783 | 80047410 | - |
| Health Care | 65465659 | 42348688 | 23116971 | - |
| Industrials | 548688618 | 411981387 | 136707231 | - |
| Information Technology | 237676921 | 151009997 | 86666924 | - |
| Materials | 126904744 | 61115260 | 65789484 | - |
| Real Estate | 69574000 | 40854830 | 28719170 | - |
| Utilities | 4788917 | - | 4788917 | - |
|  **International Equity Funds** | 16534102 | 16534102 | - | - |
|  **Money Market Funds** | 62855654 | 62855654 | - | - |
| **Total Investments in Securities:** | 1680207982 | 1071238230 | 608969752 | - |

---

**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 $32,624,181) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,144,949,173) | $1617352328 |  |
| Fidelity Central Funds (cost $62,855,654) | 62855654 |  |
| Total Investment in Securities (cost $1,207,804,827) |  | $1680207982 |
| Cash |  | 1802 |
| Foreign currency held at value (cost $1,633,525) |  | 1634046 |
| Receivable for investments sold |  | 1609958 |
| Receivable for fund shares sold |  | 856673 |
| Dividends receivable |  | 9136318 |
| Reclaims receivable |  | 2966934 |
| Distributions receivable from Fidelity Central Funds |  | 179106 |
| Prepaid expenses |  | 415 |
| Other receivables |  | 21425 |
| **Total assets** |  | 1696614659 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $2898858 |  |
| Delayed delivery | 1306280 |  |
| Payable for fund shares redeemed | 7777989 |  |
| Accrued management fee | 1007487 |  |
| Distribution and service plan fees payable | 13543 |  |
| Other payables and accrued expenses | 44964 |  |
| Collateral on securities loaned | 26606843 |  |
| **Total liabilities** |  | 39655964 |
| **Net Assets**  |  | $1656958695 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1135059398 |
| Total accumulated earnings (loss) |  | 521899297 |
| **Net Assets** |  | $1656958695 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($39,298,469 ÷ 1,753,256 shares)(a) |  | $22.41 |
| Maximum offering price per share (100/94.25 of $22.41) |  | $23.78 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($9,858,410 ÷ 448,494 shares)(a) |  | $21.98 |
| Maximum offering price per share (100/96.50 of $21.98) |  | $22.78 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($1,746,361 ÷ 84,600 shares)(a) |  | $20.64 |
| **International Small Cap Opportunities :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($903,868,860 ÷ 39,344,290 shares) |  | $22.97 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($161,812,255 ÷ 7,032,212 shares) |  | $23.01 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($540,374,340 ÷ 23,639,834 shares) |  | $22.86 |
| *(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  |  | $18563257 |
| Interest  |  | 2693 |
| Income from Fidelity Central Funds (including $244,449 from security lending)  |  | 944612 |
| Security lending |  | 7558 |
| Income before foreign taxes withheld |  | $19518120 |
| Less foreign taxes withheld |  | (1475781) |
| **Total income** |  | 18042339 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $6819445 |  |
| Performance adjustment | (665738) |  |
| Distribution and service plan fees | 81594 |  |
| Custodian fees and expenses | 75855 |  |
| Independent trustees' fees and expenses | 2488 |  |
| Registration fees | 60638 |  |
| Audit fees | 31960 |  |
| Legal | 830 |  |
| Miscellaneous | 2246 |  |
| **Total expenses** |  | 6409318 |
| **Net Investment income (loss)** |  | 11633021 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 65291246 |  |
| Fidelity Central Funds | (926) |  |
| Foreign currency transactions | (126877) |  |
| Total net realized gain (loss) |  | 65163443 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 58791892 |  |
| Assets and liabilities in foreign currencies | 329083 |  |
| Total change in net unrealized appreciation (depreciation) |  | 59120975 |
| **Net gain (loss)** |  | 124284418 |
| **Net increase (decrease) in net assets resulting from operations** |  | $135917439 |

---

---

| | | |
|:---|:---|:---|
| **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) | $11633021 | $18669074 |
| &nbsp;&nbsp;Net realized gain (loss) | 65163443<br>| 155245608<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 59120975 | 91102299<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 135917439<br>| 265016981<br>|
| Distributions to shareholders | (171159550)<br>| (77968307)<br>|
| Share transactions - net increase (decrease) | 141793816<br>| 91826373<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 106551705<br>| 278875047<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1550406990 | 1271531943<br>|
| &nbsp;&nbsp;End of period | $1656958695 | $1550406990 |

---

**Financial Highlights** 

**Fidelity Advisor® International Small Cap Opportunities 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  | $23.14 | $20.36 | $16.75 | $17.17 | $28.35 | $20.86 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .22  | .15  | .10  | .06  | (.06)  |
| Net realized and unrealized gain (loss)  | 1.70  | 3.76  | 4.14  | .61  | (8.93)  | 7.55  |
| Total from investment operations  | 1.83  | 3.98  | 4.29  | .71  | (8.87)  | 7.49  |
| Distributions from net investment income  | (.42)  | (.25)  | (.12)  | -  | -  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.56)  | (1.20)  | (.68)  | (1.13)  | (2.31)  | -  |
| Net asset value, end of period  | $22.41 | $23.14 | $20.36 | $16.75 | $17.17 | $28.35 |
| **Total Return** C,D,E | 8.64% <br>| 20.56%  | 26.06%  | 3.74%  | (33.79)%  | 35.91%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.11% H | 1.24%  | 1.27%  | 1.31%  | 1.49%  | 1.50%  |
| Expenses net of fee waivers, if any  | 1.11% H<br>| 1.24%  | 1.26%  | 1.31%  | 1.48%  | 1.50%  |
| Expenses net of all reductions, if any  | 1.11% H | 1.24%  | 1.26%  | 1.31%  | 1.48%  | 1.50%  |
| Net investment income (loss)  | 1.16% H | 1.01%  | .77%  | .56%  | .30%  | (.25)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $39298 | $37552 | $32876 | $26559 | $26380 | $45981 |
| Portfolio turnover rate I | 51% H<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

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® International Small Cap Opportunities 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  | $22.70 | $19.98 | $16.43 | $16.91 | $28.02 | $20.67 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .10  | .16  | .10  | .06  | .01  | (.13)  |
| Net realized and unrealized gain (loss)  | 1.66  | 3.70  | 4.07  | .59  | (8.81)  | 7.48  |
| Total from investment operations  | 1.76  | 3.86  | 4.17  | .65  | (8.80)  | 7.35  |
| Distributions from net investment income  | (.34)  | (.19)  | (.06)  | -  | -  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.48)  | (1.14)  | (.62)  | (1.13)  | (2.31)  | -  |
| Net asset value, end of period  | $21.98 | $22.70 | $19.98 | $16.43 | $16.91 | $28.02 |
| **Total Return** C,D,E | 8.50% <br>| 20.29%  | 25.80%  | 3.43%  | (33.95)%  | 35.56%  |
| **Ratios to Average Net Assets** A,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.36% H | 1.49%  | 1.53%  | 1.57%  | 1.74%  | 1.75%  |
| Expenses net of fee waivers, if any  | 1.36% H<br>| 1.49%  | 1.52%  | 1.56%  | 1.74%  | 1.75%  |
| Expenses net of all reductions, if any  | 1.36% H | 1.49%  | 1.52%  | 1.56%  | 1.74%  | 1.75%  |
| Net investment income (loss)  | .91% H | .76%  | .51%  | .31%  | .05%  | (.50)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $9858 | $9783 | $9933 | $9589 | $10115 | $16378 |
| Portfolio turnover rate I | 51% H<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

A*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.*

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

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® International Small Cap Opportunities 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  | $21.43 | $18.95 | $15.64 | $16.22 | $27.10 | $20.09 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .04  | .05  | - C | (.04)  | (.09)  | (.25)  |
| Net realized and unrealized gain (loss)  | 1.57  | 3.50  | 3.87  | .59  | (8.48)  | 7.26  |
| Total from investment operations  | 1.61  | 3.55  | 3.87  | .55  | (8.57)  | 7.01  |
| Distributions from net investment income  | (.26)  | (.12)  | -  | -  | -  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.40)  | (1.07)  | (.56)  | (1.13)  | (2.31)  | -  |
| Net asset value, end of period  | $20.64 | $21.43 | $18.95 | $15.64 | $16.22 | $27.10 |
| **Total Return** D,E,F | 8.25% <br>| 19.66%  | 25.11%  | 2.93%  | (34.28)%  | 34.89%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.87% I | 1.99%  | 2.02%  | 2.10%  | 2.26%  | 2.26%  |
| Expenses net of fee waivers, if any  | 1.87% I<br>| 1.99%  | 2.02%  | 2.10%  | 2.25%  | 2.26%  |
| Expenses net of all reductions, if any  | 1.87% I | 1.99%  | 2.02%  | 2.10%  | 2.25%  | 2.26%  |
| Net investment income (loss)  | .40% I | .26%  | .01%  | (.23)%  | (.47)%  | (1.01)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1746 | $2124 | $2035 | $2036 | $3314 | $6770 |
| Portfolio turnover rate J | 51% I<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

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

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*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® International Small Cap 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  | $23.70 | $20.81 | $17.12 | $17.47 | $28.77 | $21.10 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .29  | .21  | .16  | .13  | .01  |
| Net realized and unrealized gain (loss)  | 1.74  | 3.85  | 4.23  | .63  | (9.09)  | 7.66  |
| Total from investment operations  | 1.90  | 4.14  | 4.44  | .79  | (8.96)  | 7.67  |
| Distributions from net investment income  | (.49)  | (.30)  | (.19)  | - C | (.04)  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.63)  | (1.25)  | (.75)  | (1.14) D | (2.34) D | -  |
| Net asset value, end of period  | $22.97 | $23.70 | $20.81 | $17.12 | $17.47 | $28.77 |
| **Total Return** E,F | 8.78% <br>| 20.99%  | 26.39%  | 4.11%  | (33.62)%  | 36.35%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .81% I | .94%  | .98%  | 1.01%  | 1.19%  | 1.21%  |
| Expenses net of fee waivers, if any  | .81% I<br>| .94%  | .98%  | 1.00%  | 1.19%  | 1.20%  |
| Expenses net of all reductions, if any  | .81% I | .94%  | .98%  | 1.00%  | 1.19%  | 1.20%  |
| Net investment income (loss)  | 1.46% I | 1.31%  | 1.05%  | .87%  | .60%  | .05%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $903869 | $852597 | $636948 | $632320 | $700271 | $1268421 |
| Portfolio turnover rate J | 51% I<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

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

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*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® International Small Cap Opportunities 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  | $23.65 | $20.77 | $17.09 | $17.46 | $28.75 | $21.09 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .27  | .21  | .15  | .13  | .01  |
| Net realized and unrealized gain (loss)  | 1.74  | 3.85  | 4.21  | .62  | (9.07)  | 7.65  |
| Total from investment operations  | 1.90  | 4.12  | 4.42  | .77  | (8.94)  | 7.66  |
| Distributions from net investment income  | (.40)  | (.29)  | (.18)  | (.01)  | (.04)  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.54)  | (1.24)  | (.74)  | (1.14)  | (2.35)  | -  |
| Net asset value, end of period  | $23.01 | $23.65 | $20.77 | $17.09 | $17.46 | $28.75 |
| **Total Return** C,D | 8.78% <br>| 20.89%  | 26.37%  | 4.02%  | (33.60)%  | 36.32%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .86% G | 1.00%  | .99%  | 1.05%  | 1.20%  | 1.22%  |
| Expenses net of fee waivers, if any  | .86% G<br>| 1.00%  | .98%  | 1.04%  | 1.19%  | 1.22%  |
| Expenses net of all reductions, if any  | .86% G | 1.00%  | .98%  | 1.04%  | 1.19%  | 1.22%  |
| Net investment income (loss)  | 1.41% G | 1.25%  | 1.05%  | .83%  | .59%  | .04%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $161812 | $143204 | $221654 | $81122 | $82705 | $141310 |
| Portfolio turnover rate H | 51% G<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

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® International Small Cap Opportunities 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  | $23.59 | $20.74 | $17.07 | $17.44 | $28.73 | $21.05 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .30  | .23  | .18  | .15  | .04  |
| Net realized and unrealized gain (loss)  | 1.74  | 3.84  | 4.21  | .62  | (9.05)  | 7.64  |
| Total from investment operations  | 1.91  | 4.14  | 4.44  | .80  | (8.90)  | 7.68  |
| Distributions from net investment income  | (.49)  | (.34)  | (.21)  | (.04)  | (.08)  | -  |
| Distributions from net realized gain  | (2.14)  | (.95)  | (.56)  | (1.13)  | (2.31)  | -  |
| Total distributions  | (2.64) C | (1.29)  | (.77)  | (1.17)  | (2.39)  | -  |
| Net asset value, end of period  | $22.86 | $23.59 | $20.74 | $17.07 | $17.44 | $28.73 |
| **Total Return** D,E | 8.85% <br>| 21.08%  | 26.53%  | 4.19%  | (33.52)%  | 36.48%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .74% H | .86%  | .87%  | .89%  | 1.07%  | 1.09%  |
| Expenses net of fee waivers, if any  | .74% H<br>| .86%  | .87%  | .88%  | 1.07%  | 1.09%  |
| Expenses net of all reductions, if any  | .74% H | .86%  | .87%  | .88%  | 1.07%  | 1.09%  |
| Net investment income (loss)  | 1.53% H | 1.38%  | 1.16%  | .98%  | .72%  | .16%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $540374 | $505147 | $368086 | $223254 | $219360 | $309803 |
| Portfolio turnover rate I | 51% H<br>| 53%  | 27%  | 10%  | 13%  | 21%  |

---

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.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity International Small Cap Opportunities 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, International Small Cap Opportunities, 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.

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. 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 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) 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** | $534319372 |
| **Gross unrealized depreciation** | <u>(88464946)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$445854426</u> |
| **Tax cost** | <u>$1234353556</u> |

---

**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 International Small Cap Opportunities Fund** | 394916197 | 426909605 |

---

**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** | 1.02 |
| **Class M** | 1.02 |
| **Class C** | 1.02 |
| **International Small Cap Opportunities** | .99 |
| **Class I** | 1.02 |
| **Class Z** | .88 |

---

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** | .92 |
| **Class M** | .92 |
| **Class C** | .93 |
| **International Small Cap Opportunities** | .87 |
| **Class I** | .92 |
| **Class Z** | .80 |

---

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 International Small Cap Opportunities Fund** | MSCI EAFE Small Cap Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of International Small Cap Opportunities. 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 ±.20% 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 (.08)%.

**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% | 47755 | 1889 |
| **Class M** | .25% | .25% | 24062 | 226 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>9777</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1790</u> |
|  |  |  | <u>81594</u> | <u>3905</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** | 2686 |
| **Class M** | 216 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>8</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2910</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 International Small Cap Opportunities Fund** | 293 |

---

**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 International Small Cap Opportunities Fund** | 26860272 | 24927620 | 10272198 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Small Cap Opportunities Fund** | 1689 |

---

**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 International Small Cap Opportunities Fund** | 997 |

---

**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 International Small Cap Opportunities Fund** | 27304 | - | - |

---

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 International Small Cap Opportunities Fund** | 7703381 |

---

**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 International Small Cap Opportunities Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $4153621 | $1902866 |
| Class M | 1020682 | 561660 |
| Class C | 228736 | 112453 |
| International Small Cap Opportunities | 94320988 | 38399271 |
| Class I | 15870313 | 13413028 |
| Class Z | <u>55565210</u> | <u>23579029</u> |
| Total  | <u>$171159550</u> | <u>$77968307</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 International Small Cap Opportunities Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 114517 | 263573 | $2531101 | $5638958 |
| Reinvestment of distributions  | 179959 | 88165 | 3775539 | 1736854 |
| Shares redeemed | <u>(163772)</u> | <u>(344241)</u> | <u>(3610227)</u> | <u>(7280331)</u> |
| Net increase (decrease) | <u>130704</u> | <u>7497</u> | <u>$2696413</u> | <u>$95481</u> |
| **Class M** |  |  |  |  |
| Shares sold | 14358 | 40475 | $309700 | $870315 |
| Reinvestment of distributions  | 49338 | 26375 | 1015865 | 510610 |
| Shares redeemed | <u>(46192)</u> | <u>(133104)</u> | <u>(997381)</u> | <u>(2700722)</u> |
| Net increase (decrease) | <u>17504</u> | <u>(66254)</u> | <u>$328184</u> | <u>$(1319797)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 6360 | 15616 | $126716 | $319956 |
| Reinvestment of distributions  | 11589 | 6125 | 224600 | 112453 |
| Shares redeemed | <u>(32422)</u> | <u>(30063)</u> | <u>(654046)</u> | <u>(586618)</u> |
| Net increase (decrease) | <u>(14473)</u> | <u>(8322)</u> | <u>$(302730)</u> | <u>$(154209)</u> |
| **International Small Cap Opportunities** |  |  |  |  |
| Shares sold | 4219380 | 13886903 | $94550709 | $312370530 |
| Reinvestment of distributions  | 3754293 | 1573114 | 80642206 | 31635332 |
| Shares redeemed | <u>(4609206)</u> | <u>(10085823)</u> | <u>(104006559)</u> | <u>(220450296)</u> |
| Net increase (decrease) | <u>3364467</u> | <u>5374194</u> | <u>$71186356</u> | <u>$123555566</u> |
| **Class I** |  |  |  |  |
| Shares sold | 792900 | 3092105 | $18095588 | $65984490 |
| Reinvestment of distributions  | 723986 | 647836 | 15580183 | 13008545 |
| Shares redeemed | <u>(540022)</u> | <u>(8358673)</u> | <u>(12161353)</u> | <u>(182616697)</u> |
| Net increase (decrease) | <u>976864</u> | <u>(4618732)</u> | <u>$21514418</u> | <u>$(103623662)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 2567431 | 5702095 | $56330051 | $121149179 |
| Reinvestment of distributions  | 2397991 | 1086298 | 51245071 | 21736824 |
| Shares redeemed | <u>(2738919)</u> | <u>(3118779)</u> | <u>(61203947)</u> | <u>(69613009)</u> |
| Net increase (decrease) | <u>2226503</u> | <u>3669614</u> | <u>$46371175</u> | <u>$73272994</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.

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| **Fidelity International Small Cap Opportunities Fund** | 23% |

---

**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.

![](img131275_4.jpg)<br>

1.815078.120 ILS-SANN-0626

**Fidelity® International Small Cap Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131276_1.jpg)

![](img131276_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ISC-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Small Cap Fund](#Sub_Sec_Fund_1135_ISC-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1135_ISC-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ISC-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ISC-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ISC-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ISC-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® International Small Cap Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 97.4%** | &nbsp;&nbsp;**Common Stocks - 97.4%** | &nbsp;&nbsp;**Common Stocks - 97.4%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 3.7%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobile Components - 0.2% |  |  |
| Amotiv Ltd  | 3326107 | 15470464 |
| Financials - 1.1% |  |  |
| Insurance - 1.1% |  |  |
| AUB Group Ltd  | 1770233 | 32968591 |
| nib holdings Ltd/Australia  | 5428251 | 26215092 |
| TOTAL FINANCIALS |  | 59183683 |
| Materials - 2.4% |  |  |
| Metals & Mining - 2.4% |  |  |
| Deterra Royalties Ltd  | 10515892 | 31672616 |
| Imdex Ltd  | 12108786 | 35618941 |
| OceanaGold Corp  | 1015000 | 31428498 |
| Vault Minerals Ltd  | 10100000 | 33696207 |
| TOTAL MATERIALS |  | 132416262 |
| TOTAL AUSTRALIA |  | 207070409 |
| AUSTRIA - 3.6%  |  |  |
| Communication Services - 0.9% |  |  |
| Diversified Telecommunication Services - 0.9% |  |  |
| Eurotelesites AG (c) | 2619500 | 14449568 |
| Telekom Austria AG  | 3304700 | 37544472 |
| TOTAL COMMUNICATION SERVICES |  | 51994040 |
| Industrials - 0.9% |  |  |
| Construction & Engineering - 0.9% |  |  |
| Strabag SE  | 491597 | 51868958 |
| Materials - 1.8% |  |  |
| Construction Materials - 0.5% |  |  |
| Wienerberger AG (a) | 946000 | 27357124 |
| Containers & Packaging - 0.4% |  |  |
| Mayr Melnhof Karton AG  | 261100 | 24515201 |
| Metals & Mining - 0.9% |  |  |
| voestalpine AG  | 879130 | 45295622 |
| TOTAL MATERIALS |  | 97167947 |
| TOTAL AUSTRIA |  | 201030945 |
| BELGIUM - 0.9%  |  |  |
| Health Care - 0.8% |  |  |
| Health Care Providers & Services - 0.8% |  |  |
| Fagron  | 1520500 | 42828836 |
| Information Technology - 0.1% |  |  |
| IT Services - 0.1% |  |  |
| Econocom Group SA/NV  | 4274795 | 7099215 |
| TOTAL BELGIUM |  | 49928051 |
| BRAZIL - 0.9%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Diversified Consumer Services - 0.4% |  |  |
| Afya Ltd Class A  | 1631500 | 23509915 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Hypera SA  | 5983900 | 27225911 |
| TOTAL BRAZIL |  | 50735826 |
| CANADA - 3.6%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Quebecor Inc Class B  | 612800 | 25795932 |
| Consumer Staples - 1.4% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| North West Co Inc/The (a) | 1092600 | 40925747 |
| Food Products - 0.6% |  |  |
| Lassonde Industries Inc Class A  | 218999 | 36036851 |
| TOTAL CONSUMER STAPLES |  | 76962598 |
| Energy - 0.3% |  |  |
| Energy Equipment & Services - 0.3% |  |  |
| Total Energy Services Inc  | 1021000 | 17678743 |
| Industrials - 0.1% |  |  |
| Trading Companies & Distributors - 0.1% |  |  |
| Richelieu Hardware Ltd  | 296500 | 8670062 |
| Materials - 0.6% |  |  |
| Containers & Packaging - 0.6% |  |  |
| CCL Industries Inc Class B  | 564200 | 35629312 |
| Real Estate - 0.7% |  |  |
| Real Estate Management & Development - 0.7% |  |  |
| Colliers International Group Inc Subordinate Voting Shares  | 250000 | 26134649 |
| Genesis Land Development Corp (b) | 5135199 | 12702373 |
| TOTAL REAL ESTATE |  | 38837022 |
| TOTAL CANADA |  | 203573669 |
| CHINA - 5.1%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Automobile Components - 0.3% |  |  |
| Weifu High-Technology Group Co Ltd B Shares  | 8972271 | 15824572 |
| Diversified Consumer Services - 0.6% |  |  |
| New Oriental Education & Technology Group Inc  | 5800000 | 31647714 |
| Textiles, Apparel & Luxury Goods - 0.1% |  |  |
| Best Pacific International Holdings Ltd (e) | 22158900 | 8289057 |
| TOTAL CONSUMER DISCRETIONARY |  | 55761343 |
| Financials - 0.5% |  |  |
| Financial Services - 0.5% |  |  |
| Far East Horizon Ltd  | 29572000 | 28345788 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Consun Pharmaceutical Group Ltd  | 19459000 | 40322015 |
| Industrials - 2.3% |  |  |
| Machinery - 1.6% |  |  |
| Precision Tsugami China Corp Ltd (e) | 5803453 | 35769288 |
| Sany Heavy Equipment International Holdings Co Ltd  | 15818000 | 21865019 |
| Yangzijiang Shipbuildling (Holdings) Ltd  | 8365900 | 28531606 |
|  |  | 86165913 |
| Transportation Infrastructure - 0.7% |  |  |
| Qingdao Port International Co Ltd H Shares (d)(e) | 42216000 | 41479746 |
| TOTAL INDUSTRIALS |  | 127645659 |
| Materials - 0.6% |  |  |
| Containers & Packaging - 0.6% |  |  |
| Shenzhen YUTO Packaging Technology Co Ltd A Shares (China)  | 5863066 | 32575528 |
| TOTAL CHINA |  | 284650333 |
| FRANCE - 2.5%  |  |  |
| Energy - 1.1% |  |  |
| Energy Equipment & Services - 1.1% |  |  |
| Vallourec SACA  | 1923400 | 57902269 |
| Industrials - 0.6% |  |  |
| Trading Companies & Distributors - 0.6% |  |  |
| Thermador Groupe  | 404966 | 32889954 |
| Real Estate - 0.8% |  |  |
| Industrial REITs - 0.5% |  |  |
| ARGAN SA  | 352600 | 25367717 |
| Residential REITs - 0.3% |  |  |
| Altarea SCA  | 164757 | 21618437 |
| TOTAL REAL ESTATE |  | 46986154 |
| TOTAL FRANCE |  | 137778377 |
| GERMANY - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Rheinmetall AG  | 21225 | 33773956 |
| Machinery - 0.7% |  |  |
| JOST Werke SE (d)(e) | 490120 | 29796880 |
| Stabilus SE  | 391500 | 7912314 |
|  |  | 37709194 |
| TOTAL GERMANY |  | 71483150 |
| GREECE - 0.8%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Alpha Bank SA  | 4000000 | 16052939 |
| Industrials - 0.5% |  |  |
| Transportation Infrastructure - 0.5% |  |  |
| Athens International Airport SA  | 2612300 | 29770141 |
| TOTAL GREECE |  | 45823080 |
| HONG KONG - 1.4%  |  |  |
| Communication Services - 0.9% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| HKT Trust & HKT Ltd unit  | 16905000 | 27422461 |
| Media - 0.3% |  |  |
| Pico Far East Holdings Ltd  | 61300071 | 19038939 |
| TOTAL COMMUNICATION SERVICES |  | 46461400 |
| Consumer Discretionary - 0.0% |  |  |
| Hotels, Restaurants & Leisure - 0.0% |  |  |
| Magnificent Hotel Investment Ltd (c) | 242682000 | 2112433 |
| Consumer Staples - 0.5% |  |  |
| Food Products - 0.5% |  |  |
| WH Group Ltd (d)(e) | 23683500 | 28966030 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| China Metal Recycling Holdings Ltd (c)(f) | 436800 | 1 |
| TOTAL HONG KONG |  | 77539864 |
| HUNGARY - 0.8%  |  |  |
| Health Care - 0.8% |  |  |
| Pharmaceuticals - 0.8% |  |  |
| Richter Gedeon Nyrt  | 997000 | 41995155 |
| INDIA - 2.9%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| KRBL Ltd  | 3679149 | 14277109 |
| Financials - 0.9% |  |  |
| Consumer Finance - 0.9% |  |  |
| Shriram Finance Ltd  | 5057760 | 50304454 |
| Information Technology - 0.7% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Redington Ltd  | 16000000 | 36769699 |
| Materials - 0.6% |  |  |
| Metals & Mining - 0.6% |  |  |
| National Aluminium Co Ltd  | 7304600 | 30907903 |
| Real Estate - 0.5% |  |  |
| Office REITs - 0.5% |  |  |
| Embassy Office Parks REIT  | 6206600 | 27828811 |
| TOTAL INDIA |  | 160087976 |
| INDONESIA - 0.9%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Automobile Components - 0.4% |  |  |
| Selamat Sempurna Tbk PT  | 206988500 | 21696126 |
| Consumer Staples - 0.3% |  |  |
| Consumer Staples Distribution & Retail - 0.3% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 209139000 | 16005126 |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Bank Syariah Indonesia Persero Tbk PT  | 102112700 | 10487075 |
| TOTAL INDONESIA |  | 48188327 |
| IRELAND - 0.4%  |  |  |
| Real Estate - 0.4% |  |  |
| Residential REITs - 0.4% |  |  |
| Irish Residential Properties Reit PLC  | 17030600 | 21427097 |
| ISRAEL - 0.8%  |  |  |
| Communication Services - 0.8% |  |  |
| Diversified Telecommunication Services - 0.8% |  |  |
| Bezeq The Israeli Telecommunication Corp Ltd  | 15469984 | 42147211 |
| ITALY - 2.8%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Automobile Components - 0.4% |  |  |
| Pirelli & C SpA (d)(e) | 3375800 | 23177745 |
| Hotels, Restaurants & Leisure - 0.4% |  |  |
| Lottomatica Group Spa  | 811200 | 23877787 |
| TOTAL CONSUMER DISCRETIONARY |  | 47055532 |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| MARR SpA  | 985827 | 9938766 |
| Financials - 1.2% |  |  |
| Capital Markets - 0.6% |  |  |
| Banca Generali SpA  | 480300 | 31426503 |
| Financial Services - 0.6% |  |  |
| Banca Mediolanum SpA (a) | 1545700 | 33796885 |
| TOTAL FINANCIALS |  | 65223388 |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 597311 | 34799331 |
| TOTAL ITALY |  | 157017017 |
| JAPAN - 26.4%  |  |  |
| Consumer Discretionary - 3.7% |  |  |
| Automobile Components - 1.3% |  |  |
| Niterra Co Ltd  | 750000 | 40541645 |
| Toyo Tire Corp  | 1220000 | 29912110 |
|  |  | 70453755 |
| Distributors - 1.1% |  |  |
| Central Automotive Products Ltd  | 2122300 | 24471760 |
| PALTAC Corp  | 1173500 | 34662611 |
|  |  | 59134371 |
| Leisure Products - 0.4% |  |  |
| Roland Corp  | 1025000 | 26731114 |
| Specialty Retail - 0.9% |  |  |
| ABC-Mart Inc  | 1568500 | 26643759 |
| ARCLANDS CORP  | 2294889 | 26019141 |
|  |  | 52662900 |
| TOTAL CONSUMER DISCRETIONARY |  | 208982140 |
| Consumer Staples - 0.2% |  |  |
| Consumer Staples Distribution & Retail - 0.2% |  |  |
| Tsuruha Holdings Inc (a) | 1051950 | 13869935 |
| Energy - 0.9% |  |  |
| Oil, Gas & Consumable Fuels - 0.9% |  |  |
| Itochu Enex Co Ltd  | 1414900 | 17216874 |
| San-Ai Obbli Co Ltd  | 2127900 | 31311520 |
| TOTAL ENERGY |  | 48528394 |
| Financials - 2.9% |  |  |
| Banks - 2.9% |  |  |
| Hachijuni Nagano Bank Ltd  | 3868900 | 52417200 |
| Hokuhoku Financial Group Inc  | 1530200 | 58335748 |
| Kyoto Financial Group Inc (a) | 1931200 | 53380582 |
| TOTAL FINANCIALS |  | 164133530 |
| Health Care - 1.2% |  |  |
| Health Care Providers & Services - 1.2% |  |  |
| As One Corp  | 1997600 | 27700855 |
| Ship Healthcare Holdings Inc  | 2589100 | 38529805 |
| TOTAL HEALTH CARE |  | 66230660 |
| Industrials - 9.0% |  |  |
| Building Products - 1.3% |  |  |
| Nichias Corp  | 1800000 | 35714145 |
| Nitto Boseki Co Ltd  | 200000 | 36746201 |
|  |  | 72460346 |
| Commercial Services & Supplies - 0.3% |  |  |
| Prestige International Inc  | 3568700 | 15156284 |
| Electrical Equipment - 0.8% |  |  |
| Furukawa Electric Co Ltd  | 160000 | 43453899 |
| Industrial Conglomerates - 0.5% |  |  |
| Hikari Tsushin Inc  | 124600 | 30257376 |
| Machinery - 2.8% |  |  |
| Ebara Corp  | 1654400 | 56593568 |
| Kawasaki Heavy Industries Ltd  | 2887000 | 59352138 |
| Namura Shipbuilding Co Ltd (a) | 1259900 | 33000780 |
|  |  | 148946486 |
| Professional Services - 0.4% |  |  |
| Funai Soken Holdings Inc  | 334200 | 2384366 |
| MEITEC Group Holdings Inc  | 1129500 | 22621354 |
|  |  | 25005720 |
| Trading Companies & Distributors - 2.0% |  |  |
| Inaba Denki Sangyo Co Ltd  | 2845400 | 48001425 |
| Mitani Corp  | 1362042 | 22583370 |
| Sojitz Corp  | 1100200 | 41207694 |
|  |  | 111792489 |
| Transportation Infrastructure - 0.9% |  |  |
| Kamigumi Co Ltd  | 1486300 | 49122756 |
| TOTAL INDUSTRIALS |  | 496195356 |
| Information Technology - 4.4% |  |  |
| Electronic Equipment, Instruments & Components - 1.7% |  |  |
| Maruwa Co Ltd/Aichi  | 125800 | 59428796 |
| Yokogawa Electric Corp  | 1000000 | 34817744 |
|  |  | 94246540 |
| IT Services - 0.5% |  |  |
| NSD Co Ltd  | 1606800 | 27583065 |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| Renesas Electronics Corp  | 2924500 | 59141133 |
| Software - 1.1% |  |  |
| Justsystems Corp  | 634700 | 15091398 |
| Systena Corp  | 10021200 | 27413638 |
| WingArc1st Inc  | 1196282 | 20401680 |
|  |  | 62906716 |
| TOTAL INFORMATION TECHNOLOGY |  | 243877454 |
| Materials - 2.4% |  |  |
| Chemicals - 2.4% |  |  |
| Chugoku Marine Paints Ltd  | 1460000 | 29904105 |
| NOF Corp  | 2516400 | 51392416 |
| Tokyo Ohka Kogyo Co Ltd  | 900000 | 52910826 |
| TOTAL MATERIALS |  | 134207347 |
| Real Estate - 1.0% |  |  |
| Real Estate Management & Development - 1.0% |  |  |
| Starts Corp Inc  | 925200 | 28247174 |
| Tokyo Tatemono Co Ltd  | 1310000 | 30144121 |
| TOTAL REAL ESTATE |  | 58391295 |
| Utilities - 0.7% |  |  |
| Electric Utilities - 0.7% |  |  |
| Kansai Electric Power Co Inc/The  | 2439000 | 39073177 |
| TOTAL JAPAN |  | 1473489288 |
| KOREA (SOUTH) - 4.2%  |  |  |
| Financials - 0.4% |  |  |
| Insurance - 0.4% |  |  |
| Seoul Guarantee Insurance Co  | 717263 | 23338865 |
| Industrials - 1.1% |  |  |
| Electrical Equipment - 1.1% |  |  |
| Vitzrocell Co Ltd  | 1586882 | 61895639 |
| Information Technology - 1.1% |  |  |
| Electronic Equipment, Instruments & Components - 1.1% |  |  |
| LG Innotek Co Ltd  | 156280 | 61490771 |
| Materials - 1.6% |  |  |
| Chemicals - 1.6% |  |  |
| Hansol Chemical Co Ltd  | 195000 | 38400947 |
| Soulbrain Co Ltd  | 161800 | 51234639 |
| TOTAL MATERIALS |  | 89635586 |
| TOTAL KOREA (SOUTH) |  | 236360861 |
| MEXICO - 2.7%  |  |  |
| Consumer Staples - 1.3% |  |  |
| Consumer Staples Distribution & Retail - 0.6% |  |  |
| Grupo Comercial Chedraui SA de CV (a) | 5910400 | 34609429 |
| Food Products - 0.7% |  |  |
| Gruma SAB de CV Series B  | 2154800 | 37395837 |
| TOTAL CONSUMER STAPLES |  | 72005266 |
| Financials - 1.2% |  |  |
| Capital Markets - 0.4% |  |  |
| Bolsa Mexicana de Valores SAB de CV  | 11169329 | 25160322 |
| Insurance - 0.8% |  |  |
| Qualitas Controladora SAB de CV (a) | 4175935 | 41645799 |
| TOTAL FINANCIALS |  | 66806121 |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Genomma Lab Internacional SAB de CV (a) | 15068542 | 14215850 |
| TOTAL MEXICO |  | 153027237 |
| NETHERLANDS - 0.9%  |  |  |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| Acomo NV  | 957899 | 29117768 |
| Financials - 0.4% |  |  |
| Capital Markets - 0.4% |  |  |
| Van Lanschot Kempen NV depository receipt  | 296041 | 22653644 |
| TOTAL NETHERLANDS |  | 51771412 |
| NORWAY - 1.6%  |  |  |
| Consumer Discretionary - 0.9% |  |  |
| Broadline Retail - 0.9% |  |  |
| Europris ASA (d)(e) | 4658300 | 47564970 |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| SpareBank 1 SMN  | 1547100 | 34533259 |
| Real Estate - 0.1% |  |  |
| Real Estate Management & Development - 0.1% |  |  |
| Selvaag Bolig ASA (c) | 2186000 | 8234632 |
| TOTAL NORWAY |  | 90332861 |
| PERU - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| Intercorp Financial Services Inc (United States) (e) | 683100 | 30452598 |
| PHILIPPINES - 0.7%  |  |  |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Century Pacific Food Inc  | 20289700 | 9448638 |
| Real Estate - 0.5% |  |  |
| Real Estate Management & Development - 0.5% |  |  |
| Robinsons Land Corp  | 95921000 | 27177134 |
| TOTAL PHILIPPINES |  | 36625772 |
| POLAND - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| mBank SA (c) | 105000 | 33065962 |
| ROMANIA - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Banca Transilvania SA  | 5096601 | 41771266 |
| SAUDI ARABIA - 0.5%  |  |  |
| Financials - 0.5% |  |  |
| Insurance - 0.5% |  |  |
| Bupa Arabia for Cooperative Insurance Co  | 607600 | 29565925 |
| SINGAPORE - 1.8%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| Hour Glass Ltd/The  | 15675780 | 29023486 |
| Industrials - 0.8% |  |  |
| Construction & Engineering - 0.4% |  |  |
| Boustead Singapore Ltd  | 12550066 | 23631862 |
| Professional Services - 0.4% |  |  |
| HRnetgroup Ltd (e) | 36239100 | 21262056 |
| TOTAL INDUSTRIALS |  | 44893918 |
| Real Estate - 0.5% |  |  |
| Industrial REITs - 0.5% |  |  |
| Mapletree Industrial Trust (a) | 17411231 | 27019991 |
| TOTAL SINGAPORE |  | 100937395 |
| SOUTH AFRICA - 0.5%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Specialty Retail - 0.5% |  |  |
| Pepkor Holdings Ltd (d)(e) | 23127700 | 30503711 |
| SPAIN - 2.6%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Automobile Components - 0.6% |  |  |
| CIE Automotive SA  | 952800 | 32429358 |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| Viscofan SA  | 366371 | 25799479 |
| Industrials - 1.6% |  |  |
| Air Freight & Logistics - 1.1% |  |  |
| Logista Integral SA  | 1590000 | 62103925 |
| Commercial Services & Supplies - 0.5% |  |  |
| Prosegur Comp Securidad SA  | 8592981 | 27179485 |
| TOTAL INDUSTRIALS |  | 89283410 |
| TOTAL SPAIN |  | 147512247 |
| SWEDEN - 2.7%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Specialty Retail - 0.2% |  |  |
| Haypp Group AB (c) | 1232700 | 16261987 |
| Industrials - 1.1% |  |  |
| Machinery - 0.6% |  |  |
| Beijer Alma AB B Shares  | 1098000 | 34428637 |
| Trading Companies & Distributors - 0.5% |  |  |
| Alligo AB B Shares  | 1697197 | 25514711 |
| TOTAL INDUSTRIALS |  | 59943348 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Alleima AB  | 4000000 | 35504048 |
| Granges AB  | 2151776 | 40482358 |
| TOTAL MATERIALS |  | 75986406 |
| TOTAL SWEDEN |  | 152191741 |
| SWITZERLAND - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Anhui Heli Co Ltd A ELS (Ubs Ag Londn Branch Warrant Program) warrants 11/17/2027 (c) | 8014256 | 21331259 |
| TAIWAN - 4.5%  |  |  |
| Communication Services - 0.6% |  |  |
| Entertainment - 0.6% |  |  |
| International Games System Co Ltd  | 1398000 | 33334947 |
| Industrials - 0.6% |  |  |
| Professional Services - 0.3% |  |  |
| Sporton International Inc  | 2419977 | 17076813 |
| Trading Companies & Distributors - 0.3% |  |  |
| Lumax International Corp Ltd  | 4537292 | 16657004 |
| TOTAL INDUSTRIALS |  | 33733817 |
| Information Technology - 3.2% |  |  |
| Electronic Equipment, Instruments & Components - 3.2% |  |  |
| Test Research Co Ltd  | 5732000 | 63090871 |
| Tripod Technology Corp  | 4225000 | 61064251 |
| Yageo Corp  | 4957596 | 50706966 |
| TOTAL INFORMATION TECHNOLOGY |  | 174862088 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Yung Chi Paint & Varnish Manufacturing Co Ltd  | 3376773 | 8095946 |
| TOTAL TAIWAN |  | 250026798 |
| TURKEY - 0.4%  |  |  |
| Health Care - 0.4% |  |  |
| Health Care Providers & Services - 0.4% |  |  |
| MLP Saglik Hizmetleri AS (c)(d)(e) | 2536000 | 24961652 |
| UNITED ARAB EMIRATES - 0.2%  |  |  |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| RAK Properties PJSC (c) | 31862924 | 9281894 |
| UNITED KINGDOM - 10.5%  |  |  |
| Communication Services - 0.4% |  |  |
| Media - 0.4% |  |  |
| Informa PLC  | 2303933 | 24848619 |
| Consumer Staples - 1.6% |  |  |
| Food Products - 1.6% |  |  |
| Cranswick PLC  | 532100 | 39026568 |
| Premier Foods PLC  | 18855500 | 50725118 |
| TOTAL CONSUMER STAPLES |  | 89751686 |
| Energy - 1.1% |  |  |
| Energy Equipment & Services - 1.1% |  |  |
| Subsea 7 SA  | 1726600 | 62096249 |
| Financials - 3.2% |  |  |
| Banks - 1.1% |  |  |
| Close Brothers Group PLC (c) | 3500000 | 20984126 |
| Metro Bank Holdings PLC (c) | 10000000 | 20302390 |
| Shawbrook Group PLC (d)(e) | 4086000 | 18236880 |
|  |  | 59523396 |
| Capital Markets - 0.5% |  |  |
| Rathbones Group PLC  | 1114100 | 29895748 |
| Insurance - 1.6% |  |  |
| Hiscox Ltd  | 2270248 | 47821435 |
| Lancashire Holdings Ltd  | 2827100 | 22081644 |
| Sabre Insurance Group PLC (d)(e) | 9790000 | 20169118 |
|  |  | 90072197 |
| TOTAL FINANCIALS |  | 179491341 |
| Health Care - 0.6% |  |  |
| Health Care Equipment & Supplies - 0.6% |  |  |
| Convatec Group PLC (d)(e) | 12077700 | 34636734 |
| Industrials - 2.9% |  |  |
| Commercial Services & Supplies - 0.6% |  |  |
| Mears Group PLC (b) | 5726314 | 30778723 |
| Machinery - 0.7% |  |  |
| Bodycote PLC  | 2246371 | 20816463 |
| Luxfer Holdings PLC  | 1082259 | 16287998 |
|  |  | 37104461 |
| Passenger Airlines - 0.4% |  |  |
| JET2 PLC  | 1585000 | 23767812 |
| Trading Companies & Distributors - 1.2% |  |  |
| Ashtead Technology Holdings plc (a)(b) | 7342000 | 47555382 |
| RS GROUP PLC  | 2670653 | 21877228 |
|  |  | 69432610 |
| TOTAL INDUSTRIALS |  | 161083606 |
| Real Estate - 0.7% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| LSL Property Services PLC  | 4279487 | 12869519 |
| Residential REITs - 0.5% |  |  |
| Grainger PLC  | 10871166 | 23713082 |
| TOTAL REAL ESTATE |  | 36582601 |
| TOTAL UNITED KINGDOM |  | 588490836 |
| UNITED STATES - 2.6%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Diversified Consumer Services - 0.4% |  |  |
| Covista Inc (c) | 182400 | 21016128 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Antero Resources Corp (c) | 906400 | 35585264 |
| Industrials - 0.6% |  |  |
| Machinery - 0.6% |  |  |
| Impro Precision Industries Ltd (d)(e) | 26391300 | 35152572 |
| Materials - 1.0% |  |  |
| Construction Materials - 1.0% |  |  |
| GCC SAB de CV  | 1468100 | 17346414 |
| RHI Magnesita NV  | 1056191 | 38014255 |
| TOTAL MATERIALS |  | 55360669 |
| TOTAL UNITED STATES |  | 147114633 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $4,011,591,319) |  | <br> **5449291835** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.1%** | &nbsp;&nbsp;**Money Market Funds - 2.1%** | &nbsp;&nbsp;**Money Market Funds - 2.1%** | &nbsp;&nbsp;**Money Market Funds - 2.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 3.69 | 40836574 | 40844741 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 74022453 | 74029856 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $114,874,597) |  |  | **114874597** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.5%**<br> (Cost $4,126,465,916)<br>| <br>**5564166432** |
| **NET OTHER ASSETS (LIABILITIES) - 0.5%**  | **29768542** |
| **NET ASSETS - 100.0%** | **5593934974** |

---

**Legend**

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

(b) Affiliated company.

(c) Non-income producing.

(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 $334,646,038 or 6.4% 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 $430,419,037 or 7.7% of net assets.

(f) Level 3 security.

(g) 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.

(h) 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 | 68458070 | 434493794 | 462109977 | 1352733 | 2854 | - | 40844741 | 40836574 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 84002365 | 497608548 | 507580912 | 372244 | (145) | - | 74029856 | 74022453 | 0.2% |
| Total | 152460435 | 932102342 | 969690889 | 1724977 | 2709 | - | 114874597 |  |  |

---

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  |
| Ashtead Technology Holdings plc | 31587982 | - | - | 129878 | - | 15967400 | 47555382 | 7342000 |
| Genesis Land Development Corp | 12155617 | - | - | 343436 | - | 546756 | 12702373 | 5135199 |
| Mears Group PLC | 26705438 | - | - | - | - | 4073285 | 30778723 | 5726314 |
| Mincon Group Plc | 7017828 | - | 8119588 | 165262 | (5814948) | 6916708 | - | - |
| Vitzrocell Co Ltd | 30852290 | - | 39152872 | 459329 | 27299915 | 42896306 | - | - |
| Total | 108319155 | - | 47272460 | 1097905 | 21484967 | 70400455 | 91036478 |  |

---

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 | 224582149 | 144785802 | 79796347 | - |
| Consumer Discretionary | 551387593 | 218341601 | 333045992 | - |
| Consumer Staples | 386142401 | 303575563 | 82566838 | - |
| Energy | 221790919 | 173262525 | 48528394 | - |
| Financials | 855409838 | 503563504 | 351846334 | - |
| Health Care | 327216144 | 186026735 | 141189409 | - |
| Industrials | 1325840849 | 504992629 | 820848220 | - |
| Information Technology | 524099227 | 7099215 | 517000012 | - |
| Materials | 691982907 | 295572832 | 396410074 | 1 |
| Real Estate | 301766631 | 161349400 | 140417231 | - |
| Utilities | 39073177 | - | 39073177 | - |
|  **Money Market Funds** | 114874597 | 114874597 | - | - |
| **Total Investments in Securities:** | 5564166432 | 2613444403 | 2950722028 | 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 $76,388,007) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $3,962,434,557) | $5358255357 |  |
| Fidelity Central Funds (cost $114,874,597) | 114874597 |  |
| Other affiliated issuers (cost $49,156,762) | 91036478 |  |
| Total Investment in Securities (cost $4,126,465,916) |  | $5564166432 |
| Foreign currency held at value (cost $72,565,188) |  | 72901730 |
| Receivable for investments sold |  | 29114248 |
| Receivable for fund shares sold |  | 1385710 |
| Dividends receivable |  | 33402668 |
| Reclaims receivable |  | 7596822 |
| Distributions receivable from Fidelity Central Funds |  | 144033 |
| Prepaid expenses |  | 1395 |
| Other receivables |  | 113491 |
| **Total assets** |  | 5708826529 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $24014390 |  |
| Payable for fund shares redeemed | 8966826 |  |
| Accrued management fee | 2993661 |  |
| Distribution and service plan fees payable | 49180 |  |
| Deferred taxes | 4755179 |  |
| Other payables and accrued expenses | 86413 |  |
| Collateral on securities loaned | 74025906 |  |
| **Total liabilities** |  | 114891555 |
| **Net Assets**  |  | $5593934974 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $4052030289 |
| Total accumulated earnings (loss) |  | 1541904685 |
| **Net Assets** |  | $5593934974 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($152,574,041 ÷ 3,953,988 shares)(a) |  | $38.59 |
| Maximum offering price per share (100/94.25 of $38.59) |  | $40.94 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($22,806,966 ÷ 594,777 shares)(a) |  | $38.35 |
| Maximum offering price per share (100/96.50 of $38.35) |  | $39.74 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($10,419,072 ÷ 281,880 shares)(a) |  | $36.96 |
| **International Small Cap :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,735,985,566 ÷ 43,917,276 shares) |  | $39.53 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,512,212,666 ÷ 37,988,125 shares) |  | $39.81 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,159,936,663 ÷ 54,344,210 shares) |  | $39.75 |
| *(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 (including $1,097,905 earned from affiliated issuers) |  | $76677244 |
| Income from Fidelity Central Funds (including $372,244 from security lending)  |  | 1724977 |
| Security lending |  | 30398 |
| Income before foreign taxes withheld |  | $78432619 |
| Less foreign taxes withheld |  | (6235178) |
| **Total income** |  | 72197441 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $22475920 |  |
| Performance adjustment | (3904086) |  |
| Distribution and service plan fees | 292115 |  |
| Custodian fees and expenses | 285126 |  |
| Independent trustees' fees and expenses | 8521 |  |
| Registration fees | 115273 |  |
| Audit fees | 47779 |  |
| Legal | 2850 |  |
| Miscellaneous | 7636 |  |
| Total expenses before reductions | 19331134 |  |
| Expense reductions | (13448) |  |
| Total expenses after reductions |  | 19317686 |
| **Net Investment income (loss)** |  | 52879755 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $1,214,495)  | 161982691 |  |
| Fidelity Central Funds | 2709 |  |
| Other affiliated issuers | 21484967 |  |
| Foreign currency transactions | (812885) |  |
| Total net realized gain (loss) |  | 182657482 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $677,620)  | 273473536 |  |
| Affiliated issuers  | 70400455 |  |
| Assets and liabilities in foreign currencies | 2362753 |  |
| Total change in net unrealized appreciation (depreciation) |  | 346236744 |
| **Net gain (loss)** |  | 528894226 |
| **Net increase (decrease) in net assets resulting from operations** |  | $581773981 |

---

---

| | | |
|:---|:---|:---|
| **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) | $52879755 | $121327038 |
| &nbsp;&nbsp;Net realized gain (loss) | 182657482<br>| 88982199<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 346236744 | 594335661<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 581773981<br>| 804644898<br>|
| Distributions to shareholders | (189969060)<br>| (120637857)<br>|
| Share transactions - net increase (decrease) | (84750243)<br>| (175417152)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 307054678<br>| 508589889<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 5286880296 | 4778290407<br>|
| &nbsp;&nbsp;End of period | $5593934974 | $5286880296 |

---

**Financial Highlights** 

**Fidelity Advisor® International Small Cap 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  | $35.90 | $31.28 | $26.84 | $23.88 | $34.31 | $24.75 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .30  | .71  | .58  | .44  | .58  | .31  |
| Net realized and unrealized gain (loss)  | 3.62  | 4.63  | 4.37  | 2.63  | (8.74)  | 9.42  |
| Total from investment operations  | 3.92  | 5.34  | 4.95  | 3.07  | (8.16)  | 9.73  |
| Distributions from net investment income  | (1.15)  | (.72)  | (.51)  | (.11)  | (.75)  | (.17)  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (1.23)  | (.72)  | (.51)  | (.11)  | (2.27)  | (.17)  |
| Net asset value, end of period  | $38.59 | $35.90 | $31.28 | $26.84 | $23.88 | $34.31 |
| **Total Return** C,D,E | 11.22% <br>| 17.46%  | 18.59%  | 12.87%  | (25.19)%  | 39.43%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.00% H | 1.19%  | 1.32%  | 1.43%  | 1.29%  | 1.29%  |
| Expenses net of fee waivers, if any  | 1.00% H<br>| 1.19%  | 1.32%  | 1.43%  | 1.29%  | 1.29%  |
| Expenses net of all reductions, if any  | 1.00% H | 1.19%  | 1.32%  | 1.43%  | 1.29%  | 1.29%  |
| Net investment income (loss)  | 1.63% H | 2.15%  | 1.85%  | 1.56%  | 2.06%  | .95%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $152574 | $142350 | $124941 | $108866 | $95906 | $136131 |
| Portfolio turnover rate I | 39% H<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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® International Small Cap 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  | $35.66 | $31.11 | $26.69 | $23.73 | $34.12 | $24.62 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .25  | .63  | .50  | .36  | .50  | .22  |
| Net realized and unrealized gain (loss)  | 3.61  | 4.59  | 4.35  | 2.64  | (8.70)  | 9.38  |
| Total from investment operations  | 3.86  | 5.22  | 4.85  | 3.00  | (8.20)  | 9.60  |
| Distributions from net investment income  | (1.09)  | (.67)  | (.43)  | (.04)  | (.66)  | (.10)  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (1.17)  | (.67)  | (.43)  | (.04)  | (2.19) C | (.10)  |
| Net asset value, end of period  | $38.35 | $35.66 | $31.11 | $26.69 | $23.73 | $34.12 |
| **Total Return** D,E,F | 11.11% <br>| 17.13%  | 18.27%  | 12.62%  | (25.43)%  | 39.07%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.25% I | 1.45%  | 1.58%  | 1.71%  | 1.57%  | 1.57%  |
| Expenses net of fee waivers, if any  | 1.25% I<br>| 1.45%  | 1.57%  | 1.70%  | 1.56%  | 1.57%  |
| Expenses net of all reductions, if any  | 1.25% I | 1.44%  | 1.57%  | 1.70%  | 1.56%  | 1.57%  |
| Net investment income (loss)  | 1.38% I | 1.90%  | 1.60%  | 1.29%  | 1.79%  | .68%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $22807 | $20929 | $19033 | $15515 | $13761 | $19926 |
| Portfolio turnover rate J | 39% I<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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*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*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® International Small Cap 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  | $34.28 | $29.87 | $25.64 | $22.88 | $32.93 | $23.80 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .44  | .33  | .21  | .35  | .06  |
| Net realized and unrealized gain (loss)  | 3.46  | 4.43  | 4.19  | 2.55  | (8.40)  | 9.07  |
| Total from investment operations  | 3.62  | 4.87  | 4.52  | 2.76  | (8.05)  | 9.13  |
| Distributions from net investment income  | (.86)  | (.46)  | (.29)  | -  | (.48)  | -  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (.94)  | (.46)  | (.29)  | -  | (2.00)  | -  |
| Net asset value, end of period  | $36.96 | $34.28 | $29.87 | $25.64 | $22.88 | $32.93 |
| **Total Return** C,D,E | 10.81% <br>| 16.55%  | 17.68%  | 12.06%  | (25.77)%  | 38.36%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.76% H | 1.95%  | 2.06%  | 2.20%  | 2.06%  | 2.05%  |
| Expenses net of fee waivers, if any  | 1.76% H<br>| 1.95%  | 2.06%  | 2.19%  | 2.05%  | 2.05%  |
| Expenses net of all reductions, if any  | 1.76% H | 1.95%  | 2.06%  | 2.19%  | 2.05%  | 2.05%  |
| Net investment income (loss)  | .88% H | 1.39%  | 1.11%  | .80%  | 1.30%  | .19%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $10419 | $10885 | $12577 | $12603 | $13556 | $21683 |
| Portfolio turnover rate I | 39% H<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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® 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  | $36.78 | $32.03 | $27.46 | $24.43 | $35.05 | $25.28 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .36  | .83  | .68  | .52  | .67  | .41  |
| Net realized and unrealized gain (loss)  | 3.71  | 4.73  | 4.48  | 2.70  | (8.94)  | 9.61  |
| Total from investment operations  | 4.07  | 5.56  | 5.16  | 3.22  | (8.27)  | 10.02  |
| Distributions from net investment income  | (1.24)  | (.81)  | (.59)  | (.19)  | (.83)  | (.25)  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (1.32)  | (.81)  | (.59)  | (.19)  | (2.35)  | (.25)  |
| Net asset value, end of period  | $39.53 | $36.78 | $32.03 | $27.46 | $24.43 | $35.05 |
| **Total Return** C,D | 11.39% <br>| 17.79%  | 18.93%  | 13.19%  | (25.01)%  | 39.83%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .71% G | .90%  | 1.04%  | 1.17%  | 1.02%  | 1.01%  |
| Expenses net of fee waivers, if any  | .71% G<br>| .90%  | 1.04%  | 1.16%  | 1.02%  | 1.01%  |
| Expenses net of all reductions, if any  | .71% G | .90%  | 1.04%  | 1.16%  | 1.02%  | 1.01%  |
| Net investment income (loss)  | 1.93% G | 2.44%  | 2.13%  | 1.83%  | 2.33%  | 1.23%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1735986 | $1657765 | $1590236 | $1342755 | $1145773 | $1534214 |
| Portfolio turnover rate H | 39% G<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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® International Small Cap 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  | $37.03 | $32.25 | $27.66 | $24.60 | $35.27 | $25.44 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .36  | .82  | .67  | .53  | .68  | .41  |
| Net realized and unrealized gain (loss)  | 3.73  | 4.76  | 4.51  | 2.71  | (8.99)  | 9.67  |
| Total from investment operations  | 4.09  | 5.58  | 5.18  | 3.24  | (8.31)  | 10.08  |
| Distributions from net investment income  | (1.23)  | (.80)  | (.59)  | (.18)  | (.84)  | (.25)  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (1.31)  | (.80)  | (.59)  | (.18)  | (2.36)  | (.25)  |
| Net asset value, end of period  | $39.81 | $37.03 | $32.25 | $27.66 | $24.60 | $35.27 |
| **Total Return** C,D | 11.37% <br>| 17.73%  | 18.90%  | 13.20%  | (24.98)%  | 39.80%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .75% G | .95%  | 1.08%  | 1.16%  | 1.02%  | 1.02%  |
| Expenses net of fee waivers, if any  | .75% G<br>| .95%  | 1.08%  | 1.15%  | 1.01%  | 1.02%  |
| Expenses net of all reductions, if any  | .75% G | .94%  | 1.08%  | 1.15%  | 1.01%  | 1.02%  |
| Net investment income (loss)  | 1.88% G | 2.40%  | 2.09%  | 1.84%  | 2.34%  | 1.22%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1512213 | $1416087 | $1304244 | $924094 | $696515 | $1080258 |
| Portfolio turnover rate H | 39% G<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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® International Small Cap 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  | $37.00 | $32.23 | $27.65 | $24.59 | $35.26 | $25.43 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .38  | .86  | .71  | .56  | .70  | .45  |
| Net realized and unrealized gain (loss)  | 3.73  | 4.75  | 4.50  | 2.72  | (8.97)  | 9.67  |
| Total from investment operations  | 4.11  | 5.61  | 5.21  | 3.28  | (8.27)  | 10.12  |
| Distributions from net investment income  | (1.28)  | (.84)  | (.63)  | (.22)  | (.88)  | (.29)  |
| Distributions from net realized gain  | (.08)  | -  | -  | -  | (1.52)  | -  |
| Total distributions  | (1.36)  | (.84)  | (.63)  | (.22)  | (2.40)  | (.29)  |
| Net asset value, end of period  | $39.75 | $37.00 | $32.23 | $27.65 | $24.59 | $35.26 |
| **Total Return** C,D | 11.45% <br>| 17.86%  | 19.01%  | 13.38%  | (24.89)%  | 39.99%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .64% G | .83%  | .96%  | 1.03%  | .89%  | .89%  |
| Expenses net of fee waivers, if any  | .64% G<br>| .83%  | .96%  | 1.03%  | .89%  | .89%  |
| Expenses net of all reductions, if any  | .64% G | .83%  | .96%  | 1.03%  | .89%  | .89%  |
| Net investment income (loss)  | 2.00% G | 2.51%  | 2.21%  | 1.96%  | 2.47%  | 1.35%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2159937 | $2038863 | $1727260 | $1251559 | $965701 | $739757 |
| Portfolio turnover rate H | 39% G<br>| 24%  | 17%  | 10%  | 17%  | 28%  |

---

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 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. 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, International Small Cap, 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. 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. 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 taxes withheld. 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 Deferred taxes 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), 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** | $1659865948 |
| **Gross unrealized depreciation** | <u>(317009036)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$1342856912</u> |
| **Tax cost** | <u>$4221309520</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 International Small Cap Fund** | 1022723485 | 1138685944 |

---

**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** | 1.02 |
| **Class M** | 1.02 |
| **Class C** | 1.02 |
| **International Small Cap** | 1.00 |
| **Class I** | 1.00 |
| **Class Z** | .87 |

---

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** | .88 |
| **Class M** | .88 |
| **Class C** | .88 |
| **International Small Cap** | .83 |
| **Class I** | .88 |
| **Class Z** | .77 |

---

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 International Small Cap Fund** | MSCI ACWI (All Country World Index) ex USA Small Cap Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of International Small Cap. 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 ±.20% 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 (.14)%.

**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% | 184010 | 4818 |
| **Class M** | .25% | .25% | 54748 | 586 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>53357</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>5844</u> |
|  |  |  | <u>292115</u> | <u>11248</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** | 6051 |
| **Class M** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>723</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>6774</u> |

---

**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 International Small Cap Fund** | 4679286 | 41032993 | 4205669 |

---

**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 International Small Cap Fund** | 3441 |

---

**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 International Small Cap Fund** | 43714 | - | - |

---

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 International Small Cap Fund** | 5868354 |

---

**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 $13,448.

**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 International Small Cap Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $4847066 | $2901411 |
| Class M | 687237 | 410420 |
| Class C | 295051 | 186204 |
| International Small Cap | 59372401 | 39749892 |
| Class I | 49832495 | 31846159 |
| Class Z | <u>74934810</u> | <u>45543771</u> |
| Total  | <u>$189969060</u> | <u>$120637857</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 International Small Cap Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 295584 | 930116 | $10897268 | $30202967 |
| Reinvestment of distributions  | 135761 | 94214 | 4810007 | 2884846 |
| Shares redeemed | <u>(443067)</u> | <u>(1052868)</u> | <u>(16328200)</u> | <u>(34813541)</u> |
| Net increase (decrease) | <u>(11722)</u> | <u>(28538)</u> | <u>$(620925)</u> | <u>$(1725728)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 39419 | 126929 | $1448444 | $4272202 |
| Reinvestment of distributions  | 19440 | 13431 | 685277 | 409526 |
| Shares redeemed | <u>(50948)</u> | <u>(165358)</u> | <u>(1862181)</u> | <u>(5146501)</u> |
| Net increase (decrease) | <u>7911</u> | <u>(24998)</u> | <u>$271540</u> | <u>$(464773)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 19218 | 35411 | $684793 | $1127956 |
| Reinvestment of distributions  | 8657 | 6318 | 294677 | 185987 |
| Shares redeemed | <u>(63505)</u> | <u>(145336)</u> | <u>(2233876)</u> | <u>(4585721)</u> |
| Net increase (decrease) | <u>(35630)</u> | <u>(103607)</u> | <u>$(1254406)</u> | <u>$(3271778)</u> |
| **International Small Cap** |  |  |  |  |
| Shares sold | 5936720 | 12665091 | $223307760 | $425579688 |
| Reinvestment of distributions  | 1285192 | 1091550 | 46601068 | 34154601 |
| Shares redeemed | <u>(8380182)</u> | <u>(18333629)</u> | <u>(313111245)</u> | <u>(616630506)</u> |
| Net increase (decrease) | <u>(1158270)</u> | <u>(4576988)</u> | <u>$(43202417)</u> | <u>$(156896217)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 4043458 | 10958781 | $153692638 | $366166037 |
| Reinvestment of distributions  | 1300617 | 980060 | 47498546 | 30891485 |
| Shares redeemed | <u>(5599124)</u> | <u>(14143408)</u> | <u>(211767569)</u> | <u>(470345518)</u> |
| Net increase (decrease) | <u>(255049)</u> | <u>(2204567)</u> | <u>$(10576385)</u> | <u>$(73287996)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 4348397 | 16187289 | $164433918 | $561614814 |
| Reinvestment of distributions  | 1350025 | 967209 | 49208420 | 30428407 |
| Shares redeemed | <u>(6454209)</u> | <u>(15650083)</u> | <u>(243009988)</u> | <u>(531813881)</u> |
| Net increase (decrease) | <u>(755787)</u> | <u>1504415</u> | <u>$(29367650)</u> | <u>$60229340</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.

![](img131276_4.jpg)<br>

1.800662.122 ISC-SANN-0626

**Fidelity® International Growth Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131278_1.jpg)

![](img131278_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_IGF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Growth Fund](#Sub_Sec_Fund_1979_IGF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1979_IGF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IGF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IGF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IGF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IGF-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® International Growth Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.5%** | &nbsp;&nbsp;**Common Stocks - 96.5%** | &nbsp;&nbsp;**Common Stocks - 96.5%** |
|  | Shares | Value ($)<br>|
| AUSTRIA - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Erste Group Bank AG  | 899900 | 99435446 |
| BELGIUM - 1.6%  |  |  |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| KBC Group NV  | 1006500 | 133779816 |
| CANADA - 2.2%  |  |  |
| Industrials - 0.5% |  |  |
| Ground Transportation - 0.5% |  |  |
| Canadian Pacific Kansas City Ltd  | 453800 | 39468423 |
| Materials - 1.7% |  |  |
| Metals & Mining - 1.7% |  |  |
| Franco-Nevada Corp  | 598280 | 138027008 |
| TOTAL CANADA |  | 177495431 |
| CHINA - 0.6%  |  |  |
| Communication Services - 0.6% |  |  |
| Interactive Media & Services - 0.6% |  |  |
| Tencent Holdings Ltd  | 829200 | 50359195 |
| FINLAND - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Machinery - 1.1% |  |  |
| Kone Oyj B Shares  | 1415204 | 90023717 |
| FRANCE - 12.1%  |  |  |
| Consumer Discretionary - 1.5% |  |  |
| Textiles, Apparel & Luxury Goods - 1.5% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 236445 | 125265159 |
| Health Care - 1.0% |  |  |
| Health Care Equipment & Supplies - 1.0% |  |  |
| EssilorLuxottica SA  | 376221 | 79634545 |
| Industrials - 8.7% |  |  |
| Aerospace & Defense - 6.3% |  |  |
| Airbus SE  | 1179100 | 243082643 |
| Safran SA  | 842500 | 270537550 |
|  |  | 513620193 |
| Electrical Equipment - 2.4% |  |  |
| Legrand SA  | 1101500 | 197348737 |
| TOTAL INDUSTRIALS |  | 710968930 |
| Materials - 0.9% |  |  |
| Chemicals - 0.9% |  |  |
| Air Liquide SA  | 333758 | 71804833 |
| TOTAL FRANCE |  | 987673467 |
| GERMANY - 2.3%  |  |  |
| Industrials - 1.4% |  |  |
| Aerospace & Defense - 1.4% |  |  |
| Rheinmetall AG  | 70300 | 111863798 |
| Materials - 0.9% |  |  |
| Construction Materials - 0.9% |  |  |
| Heidelberg Materials AG  | 360800 | 79608091 |
| TOTAL GERMANY |  | 191471889 |
| ITALY - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Interpump Group SpA  | 740226 | 31084456 |
| JAPAN - 13.3%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Specialty Retail - 0.4% |  |  |
| USS Co Ltd  | 4032600 | 43553769 |
| Health Care - 1.5% |  |  |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Hoya Corp  | 639700 | 119460010 |
| Industrials - 3.9% |  |  |
| Construction & Engineering - 0.3% |  |  |
| SHO-BOND Holdings Co Ltd  | 3008000 | 25443795 |
| Machinery - 3.6% |  |  |
| Komatsu Ltd  | 1302100 | 55753317 |
| Mitsubishi Heavy Industries Ltd  | 7864700 | 234729036 |
|  |  | 290482353 |
| TOTAL INDUSTRIALS |  | 315926148 |
| Information Technology - 7.5% |  |  |
| Electronic Equipment, Instruments & Components - 2.5% |  |  |
| Azbil Corp  | 8211712 | 73082241 |
| Keyence Corp  | 278448 | 127714610 |
|  |  | 200796851 |
| Semiconductors & Semiconductor Equipment - 5.0% |  |  |
| Advantest Corp  | 923200 | 172378584 |
| Disco Corp  | 358200 | 170425290 |
| Lasertec Corp  | 236000 | 65225308 |
|  |  | 408029182 |
| TOTAL INFORMATION TECHNOLOGY |  | 608826033 |
| TOTAL JAPAN |  | 1087765960 |
| NETHERLANDS - 9.4%  |  |  |
| Consumer Staples - 0.3% |  |  |
| Food Products - 0.3% |  |  |
| Magnum Ice Cream Co NV/The  | 1475000 | 21535304 |
| Industrials - 0.1% |  |  |
| Machinery - 0.1% |  |  |
| Aalberts NV (a) | 297400 | 11267125 |
| Aalberts NV rights (a)(b)(c) | 297400 | 401399 |
| TOTAL INDUSTRIALS |  | 11668524 |
| Information Technology - 9.0% |  |  |
| Semiconductors & Semiconductor Equipment - 9.0% |  |  |
| ASML Holding NV  | 454842 | 657495163 |
| BE Semiconductor Industries NV  | 258364 | 74958186 |
| TOTAL INFORMATION TECHNOLOGY |  | 732453349 |
| TOTAL NETHERLANDS |  | 765657177 |
| SWEDEN - 8.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Automobile Components - 0.5% |  |  |
| Autoliv Inc (a) | 317969 | 36862146 |
| Industrials - 7.7% |  |  |
| Building Products - 2.1% |  |  |
| Assa Abloy AB B Shares  | 4538310 | 172728833 |
| Machinery - 4.8% |  |  |
| Atlas Copco AB A Shares  | 10761400 | 203041985 |
| Epiroc AB A Shares  | 6498117 | 187596802 |
|  |  | 390638787 |
| Trading Companies & Distributors - 0.8% |  |  |
| AddTech AB B Shares  | 1886882 | 68136412 |
| TOTAL INDUSTRIALS |  | 631504032 |
| Information Technology - 0.7% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Lagercrantz Group AB B Shares  | 2045500 | 53437448 |
| TOTAL SWEDEN |  | 721803626 |
| SWITZERLAND - 6.2%  |  |  |
| Financials - 2.4% |  |  |
| Capital Markets - 2.4% |  |  |
| UBS Group AG  | 4519762 | 199567145 |
| Industrials - 3.8% |  |  |
| Electrical Equipment - 2.6% |  |  |
| ABB Ltd  | 2077720 | 210140069 |
| Machinery - 1.2% |  |  |
| Schindler Holding AG  | 20350 | 6823703 |
| Schindler Holding AG participation certificate  | 248423 | 86924999 |
|  |  | 93748702 |
| TOTAL INDUSTRIALS |  | 303888771 |
| TOTAL SWITZERLAND |  | 503455916 |
| TAIWAN - 5.0%  |  |  |
| Information Technology - 5.0% |  |  |
| Semiconductors & Semiconductor Equipment - 5.0% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 5906000 | 411310191 |
| UNITED KINGDOM - 11.6%  |  |  |
| Consumer Discretionary - 2.6% |  |  |
| Hotels, Restaurants & Leisure - 1.9% |  |  |
| Compass Group PLC  | 5610300 | 158490975 |
| Leisure Products - 0.7% |  |  |
| Games Workshop Group PLC  | 212074 | 56244183 |
| TOTAL CONSUMER DISCRETIONARY |  | 214735158 |
| Health Care - 2.4% |  |  |
| Pharmaceuticals - 2.4% |  |  |
| Astrazeneca PLC  | 1014026 | 192459507 |
| Industrials - 6.6% |  |  |
| Aerospace & Defense - 6.2% |  |  |
| BAE Systems PLC  | 9225936 | 256606130 |
| Rolls-Royce Holdings PLC  | 15224019 | 244978217 |
|  |  | 501584347 |
| Trading Companies & Distributors - 0.4% |  |  |
| Howden Joinery Group PLC  | 3371500 | 35646962 |
| TOTAL INDUSTRIALS |  | 537231309 |
| TOTAL UNITED KINGDOM |  | 944425974 |
| UNITED STATES - 20.6%  |  |  |
| Consumer Discretionary - 1.8% |  |  |
| Hotels, Restaurants & Leisure - 1.8% |  |  |
| InterContinental Hotels Group PLC ADR  | 1019770 | 146724508 |
| Consumer Staples - 0.5% |  |  |
| Consumer Staples Distribution & Retail - 0.5% |  |  |
| PriceSmart Inc  | 248798 | 39041382 |
| Financials - 0.5% |  |  |
| Financial Services - 0.5% |  |  |
| Mastercard Inc Class A  | 39700 | 19965924 |
| Visa Inc Class A  | 62360 | 20568822 |
| TOTAL FINANCIALS |  | 40534746 |
| Health Care - 2.3% |  |  |
| Pharmaceuticals - 2.3% |  |  |
| Novartis AG  | 1273708 | 188240884 |
| Industrials - 6.8% |  |  |
| Electrical Equipment - 6.8% |  |  |
| GE Vernova Inc  | 240300 | 260355438 |
| Schneider Electric SE  | 921800 | 293324892 |
| TOTAL INDUSTRIALS |  | 553680330 |
| Materials - 8.7% |  |  |
| Chemicals - 3.6% |  |  |
| Linde PLC  | 418579 | 209766680 |
| Sherwin-Williams Co/The (a) | 254511 | 81853283 |
|  |  | 291619963 |
| Construction Materials - 5.1% |  |  |
| CRH PLC  | 2400566 | 284275027 |
| Holcim AG  | 1328690 | 123470416 |
|  |  | 407745443 |
| TOTAL MATERIALS |  | 699365406 |
| TOTAL UNITED STATES |  | 1667587256 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $5,029,804,247) |  | <br> **7863329517** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.2%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.2%  |  |  |
| Communication Services - 0.2% |  |  |
| Interactive Media & Services - 0.2% |  |  |
| Bytedance Ltd Series E1 (c)(d)(e)<br>(Cost $6,992,915)<br>| 63819 | **19241428** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.8%** | &nbsp;&nbsp;**Money Market Funds - 2.8%** | &nbsp;&nbsp;**Money Market Funds - 2.8%** | &nbsp;&nbsp;**Money Market Funds - 2.8%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 221251974 | 221296224 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 7118967 | 7119679 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $228,415,903) |  |  | **228415903** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.5%**<br> (Cost $5,265,213,065)<br>| <br>**8110986848** |
| **NET OTHER ASSETS (LIABILITIES) - 0.5%**  | **38706848** |
| **NET ASSETS - 100.0%** | **8149693696** |

---

**Legend**

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

(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(c) Non-income producing.

(d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $19,241,428 or 0.2% of net assets.

(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.

---

| | | |
|:---|:---|:---|
| 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 | 6992915 |

---

**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 | 110621638 | 1127375290 | 1016703492 | 4509199 | 2788 | - | 221296224 | 221251974 | 0.4% |
| Fidelity Securities Lending Cash Central Fund | 50288128 | 201029293 | 244198698 | 126395 | 956 | - | 7119679 | 7118967 | 0.0% |
| Total | 160909766 | 1328404583 | 1260902190 | 4635594 | 3744 | - | 228415903 |  |  |

---

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 | 50359195 | - | 50359195 | - |
| Consumer Discretionary | 567140740 | 523586971 | 43553769 | - |
| Consumer Staples | 60576686 | 60576686 | - | - |
| Financials | 473317153 | 373881707 | 99435446 | - |
| Health Care | 579794946 | 192459507 | 387335439 | - |
| Industrials | 3337308438 | 1117767250 | 2219541188 | - |
| Information Technology | 1806027021 | 128395634 | 1677631387 | - |
| Materials | 988805338 | 713921998 | 274883340 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 19241428 | - | - | 19241428 |
|  **Money Market Funds** | 228415903 | 228415903 | - | - |
| **Total Investments in Securities:** | 8110986848 | 3339005656 | 4752739764 | 19241428 |

---

**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 $7,471,997) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $5,036,797,162) | $7882570945 |  |
| Fidelity Central Funds (cost $228,415,903) | 228415903 |  |
| Total Investment in Securities (cost $5,265,213,065) |  | $8110986848 |
| Foreign currency held at value (cost $2,549,745) |  | 2549601 |
| Receivable for investments sold |  | 36100545 |
| Receivable for forward foreign currency contracts |  | 536893 |
| Receivable for fund shares sold |  | 5856852 |
| Dividends receivable |  | 17392124 |
| Reclaims receivable |  | 21132679 |
| Interest receivable |  | 1000 |
| Distributions receivable from Fidelity Central Funds |  | 653537 |
| Prepaid expenses |  | 1806 |
| Other receivables |  | 9167 |
| **Total assets** |  | 8195221052 |
| **Liabilities** |  |  |
| Payable to custodian bank  | $140 |  |
| Payable for investments purchased |  |  |
| Regular delivery | 27019377 |  |
| Delayed delivery | 401400 |  |
| Payable for forward foreign currency contracts | 456511 |  |
| Payable for fund shares redeemed | 4820995 |  |
| Accrued management fee | 5539007 |  |
| Distribution and service plan fees payable | 77810 |  |
| Other payables and accrued expenses | 94096 |  |
| Collateral on securities loaned | 7118020 |  |
| **Total liabilities** |  | 45527356 |
| **Net Assets**  |  | $8149693696 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $5008514652 |
| Total accumulated earnings (loss) |  | 3141179044 |
| **Net Assets** |  | $8149693696 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($237,234,998 ÷ 9,955,305 shares)(a) |  | $23.83 |
| Maximum offering price per share (100/94.25 of $23.83) |  | $25.28 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($32,407,308 ÷ 1,374,274 shares)(a) |  | $23.58 |
| Maximum offering price per share (100/96.50 of $23.58) |  | $24.44 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($18,930,539 ÷ 842,859 shares)(a) |  | $22.46 |
| **International Growth :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,731,186,633 ÷ 71,868,639 shares) |  | $24.09 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($2,158,429,547 ÷ 89,919,200 shares) |  | $24.00 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($3,971,504,671 ÷ 165,454,780 shares) |  | $24.00 |
| *(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  |  | $61387635 |
| Foreign Tax Reclaims |  | 4153929 |
| Interest  |  | 30032 |
| Income from Fidelity Central Funds (including $126,395 from security lending)  |  | 4635594 |
| Security lending |  | 647 |
| Income before foreign taxes withheld |  | $70207837 |
| Less foreign taxes withheld |  | (7452995) |
| **Total income** |  | 62754842 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $27983469 |  |
| Performance adjustment | 2679342 |  |
| Distribution and service plan fees | 467414 |  |
| Custodian fees and expenses | 181203 |  |
| Independent trustees' fees and expenses | 11713 |  |
| Registration fees | 116956 |  |
| Audit fees | 45105 |  |
| Legal | 4383 |  |
| Miscellaneous | 10248 |  |
| Total expenses before reductions | 31499833 |  |
| Expense reductions | (728) |  |
| Total expenses after reductions |  | 31499105 |
| **Net Investment income (loss)** |  | 31255737 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $1,573,282)  | 289782745 |  |
| Fidelity Central Funds | 3744 |  |
| Foreign currency transactions | (425703) |  |
| Total net realized gain (loss) |  | 289360786 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $2,720,491)  | 88592714 |  |
| Assets and liabilities in foreign currencies | 864975 |  |
| Total change in net unrealized appreciation (depreciation) |  | 89457689 |
| **Net gain (loss)** |  | 378818475 |
| **Net increase (decrease) in net assets resulting from operations** |  | $410074212 |

---

---

| | | |
|:---|:---|:---|
| **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) | $31255737 | $42873348 |
| &nbsp;&nbsp;Net realized gain (loss) | 289360786<br>| 220955620<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 89457689 | 758573057<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 410074212<br>| 1022402025<br>|
| Distributions to shareholders | (261142594)<br>| (52532043)<br>|
| Share transactions - net increase (decrease) | 318083191<br>| 666193603<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 467014809<br>| 1636063585<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 7682678887 | 6046615302<br>|
| &nbsp;&nbsp;End of period | $8149693696 | $7682678887 |

---

**Financial Highlights** 

**Fidelity Advisor® International Growth 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  | $23.42 | $20.21 | $16.19 | $14.89 | $21.04 | $16.06 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .08  | .06  | .04  | - C | (.04)  |
| Net realized and unrealized gain (loss)  | 1.07  | 3.23  | 4.00  | 1.49  | (5.80)  | 5.02  |
| Total from investment operations  | 1.13  | 3.31  | 4.06  | 1.53  | (5.80)  | 4.98  |
| Distributions from net investment income  | (.10)  | (.02)  | (.04)  | -  | (.03)  | -  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.72)  | (.10) D | (.04)  | (.23)  | (.35)  | -  |
| Net asset value, end of period  | $23.83 | $23.42 | $20.21 | $16.19 | $14.89 | $21.04 |
| **Total Return** E,F,G | 5.04% <br>| 16.42%  | 25.08%  | 10.26%  | (28.00)%  | 31.01%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.11% J | 1.13%  | 1.18%  | 1.21%  | 1.30%  | 1.28%  |
| Expenses net of fee waivers, if any  | 1.11% J<br>| 1.13%  | 1.18%  | 1.21%  | 1.30%  | 1.28%  |
| Expenses net of all reductions, if any  | 1.11% J | 1.13%  | 1.18%  | 1.21%  | 1.30%  | 1.28%  |
| Net investment income (loss)  | .50% J | .36%  | .28%  | .23%  | .02%  | (.20)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $237235 | $229530 | $204716 | $171656 | $157490 | $232527 |
| Portfolio turnover rate K | 62% J<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

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

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

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*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® International Growth 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  | $23.15 | $20.00 | $16.04 | $14.79 | $20.92 | $16.01 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .03  | .02  | .01  | (.01)  | (.04)  | (.09)  |
| Net realized and unrealized gain (loss)  | 1.06  | 3.20  | 3.95  | 1.49  | (5.77)  | 5.00  |
| Total from investment operations  | 1.09  | 3.22  | 3.96  | 1.48  | (5.81)  | 4.91  |
| Distributions from net investment income  | (.04)  | -  | -  | -  | -  | -  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.66)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Net asset value, end of period  | $23.58 | $23.15 | $20.00 | $16.04 | $14.79 | $20.92 |
| **Total Return** C,D,E | 4.91% <br>| 16.16%  | 24.69%  | 9.99%  | (28.18)%  | 30.67%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.36% H | 1.38%  | 1.44%  | 1.48%  | 1.57%  | 1.55%  |
| Expenses net of fee waivers, if any  | 1.36% H<br>| 1.38%  | 1.43%  | 1.48%  | 1.57%  | 1.55%  |
| Expenses net of all reductions, if any  | 1.36% H | 1.38%  | 1.43%  | 1.47%  | 1.57%  | 1.55%  |
| Net investment income (loss)  | .25% H | .11%  | .03%  | (.03)%  | (.25)%  | (.48)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $32407 | $32719 | $31196 | $27016 | $26250 | $38761 |
| Portfolio turnover rate I | 62% H<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

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® International Growth 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  | $22.10 | $19.19 | $15.46 | $14.33 | $20.39 | $15.68 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.03)  | (.08)  | (.09)  | (.09)  | (.13)  | (.18)  |
| Net realized and unrealized gain (loss)  | 1.01  | 3.06  | 3.82  | 1.45  | (5.61)  | 4.89  |
| Total from investment operations  | .98  | 2.98  | 3.73  | 1.36  | (5.74)  | 4.71  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Net asset value, end of period  | $22.46 | $22.10 | $19.19 | $15.46 | $14.33 | $20.39 |
| **Total Return** C,D,E | 4.63% <br>| 15.59%  | 24.13%  | 9.47%  | (28.58)%  | 30.04%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.86% H | 1.89%  | 1.94%  | 1.98%  | 2.07%  | 2.05%  |
| Expenses net of fee waivers, if any  | 1.86% H<br>| 1.89%  | 1.94%  | 1.97%  | 2.06%  | 2.05%  |
| Expenses net of all reductions, if any  | 1.86% H | 1.89%  | 1.94%  | 1.97%  | 2.06%  | 2.05%  |
| Net investment income (loss)  | (.25)% H | (.40)%  | (.48)%  | (.53)%  | (.74)%  | (.97)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $18931 | $20853 | $24523 | $27270 | $33575 | $58867 |
| Portfolio turnover rate I | 62% H<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

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® 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  | $23.69 | $20.44 | $16.38 | $15.05 | $21.26 | $16.20 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .14  | .11  | .09  | .05  | .02  |
| Net realized and unrealized gain (loss)  | 1.09  | 3.27  | 4.04  | 1.51  | (5.85)  | 5.06  |
| Total from investment operations  | 1.18  | 3.41  | 4.15  | 1.60  | (5.80)  | 5.08  |
| Distributions from net investment income  | (.16)  | (.08)  | (.09)  | (.04)  | (.09)  | (.02)  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.78)  | (.16) C | (.09)  | (.27)  | (.41)  | (.02)  |
| Net asset value, end of period  | $24.09 | $23.69 | $20.44 | $16.38 | $15.05 | $21.26 |
| **Total Return** D,E | 5.22% <br>| 16.77%  | 25.41%  | 10.59%  | (27.79)%  | 31.38%  |
| **Ratios to Average Net Assets** A,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .82% H | .84%  | .89%  | .93%  | 1.01%  | .99%  |
| Expenses net of fee waivers, if any  | .82% H<br>| .84%  | .89%  | .92%  | 1.01%  | .99%  |
| Expenses net of all reductions, if any  | .82% H | .84%  | .89%  | .92%  | 1.01%  | .99%  |
| Net investment income (loss)  | .80% H | .65%  | .57%  | .52%  | .31%  | .09%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1731187 | $1726679 | $1591303 | $1277884 | $1194442 | $1773433 |
| Portfolio turnover rate I | 62% H<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

A*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.*

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

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*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*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*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® International Growth 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  | $23.62 | $20.38 | $16.34 | $15.01 | $21.20 | $16.16 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .13  | .11  | .09  | .05  | .01  |
| Net realized and unrealized gain (loss)  | 1.07  | 3.27  | 4.02  | 1.50  | (5.83)  | 5.05  |
| Total from investment operations  | 1.16  | 3.40  | 4.13  | 1.59  | (5.78)  | 5.06  |
| Distributions from net investment income  | (.16)  | (.08)  | (.09)  | (.03)  | (.09)  | (.02)  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.78)  | (.16) C | (.09)  | (.26)  | (.41)  | (.02)  |
| Net asset value, end of period  | $24.00 | $23.62 | $20.38 | $16.34 | $15.01 | $21.20 |
| **Total Return** D,E | 5.13% <br>| 16.77%  | 25.34%  | 10.59%  | (27.78)%  | 31.36%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .86% H | .88%  | .92%  | .94%  | 1.02%  | 1.00%  |
| Expenses net of fee waivers, if any  | .86% H<br>| .88%  | .92%  | .93%  | 1.02%  | 1.00%  |
| Expenses net of all reductions, if any  | .86% H | .88%  | .92%  | .93%  | 1.02%  | 1.00%  |
| Net investment income (loss)  | .75% H | .61%  | .54%  | .51%  | .30%  | .07%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2158430 | $2093362 | $1821120 | $1441605 | $1373850 | $2035690 |
| Portfolio turnover rate I | 62% H<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

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 Advisor® International Growth 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  | $23.65 | $20.43 | $16.38 | $15.05 | $21.25 | $16.19 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .10  | .16  | .14  | .11  | .08  | .04  |
| Net realized and unrealized gain (loss)  | 1.08  | 3.26  | 4.03  | 1.51  | (5.85)  | 5.06  |
| Total from investment operations  | 1.18  | 3.42  | 4.17  | 1.62  | (5.77)  | 5.10  |
| Distributions from net investment income  | (.20)  | (.13)  | (.12)  | (.06)  | (.11)  | (.04)  |
| Distributions from net realized gain  | (.62)  | (.07)  | -  | (.23)  | (.32)  | -  |
| Total distributions  | (.83) C | (.20)  | (.12)  | (.29)  | (.43)  | (.04)  |
| Net asset value, end of period  | $24.00 | $23.65 | $20.43 | $16.38 | $15.05 | $21.25 |
| **Total Return** D,E | 5.21% <br>| 16.88%  | 25.53%  | 10.74%  | (27.68)%  | 31.55%  |
| **Ratios to Average Net Assets** A,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .75% H | .77%  | .79%  | .80%  | .89%  | .87%  |
| Expenses net of fee waivers, if any  | .75% H<br>| .77%  | .79%  | .79%  | .89%  | .87%  |
| Expenses net of all reductions, if any  | .75% H | .77%  | .79%  | .79%  | .89%  | .87%  |
| Net investment income (loss)  | .87% H | .72%  | .67%  | .65%  | .43%  | .20%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3971505 | $3579535 | $2373757 | $1394806 | $989259 | $1277877 |
| Portfolio turnover rate I | 62% H<br>| 39%  | 31%  | 22%  | 22%  | 21%  |

---

A*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.*

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

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.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity International Growth 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, International Growth, 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 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. 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 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.

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) 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** | $2977886319 |
| **Gross unrealized depreciation** | <u>(139395888)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$2838490431</u> |
| **Tax cost** | <u>$5272496417</u> |

---

**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 International Growth Fund** | 2346233639 | 2418223117 |

---

**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** | .87 |
| **Class M** | .87 |
| **Class C** | .87 |
| **International Growth** | .84 |
| **Class I** | .85 |
| **Class Z** | .71 |

---

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** | .78 |
| **Class M** | .78 |
| **Class C** | .78 |
| **International Growth** | .74 |
| **Class I** | .78 |
| **Class Z** | .67 |

---

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 International Growth Fund** | MSCI EAFE Growth Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of International Growth. 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 ±.20% 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 .07%.

**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% | 288067 | 8487 |
| **Class M** | .25% | .25% | 80776 | 686 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>98571</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>12152</u> |
|  |  |  | <u>467414</u> | <u>21325</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** | 17546 |
| **Class M** | 1458 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>71</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>19075</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 International Growth Fund** | 1141 |

---

**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 International Growth Fund** | 121835233 | 130466178 | 28293321 |

---

**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 International Growth Fund** | 4816 |

---

**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 International Growth Fund** | 13552 | - | - |

---

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 International Growth Fund** | 474698 |

---

**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 $728.

**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 International Growth Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $7027393 | $961001 |
| Class M | 929576 | 111260 |
| Class C | 572043 | 87826 |
| International Growth | 56516345 | 11811561 |
| Class I | 69281903 | 14013519 |
| Class Z | <u>126815334</u> | <u>25546876</u> |
| Total  | <u>$261142594</u> | <u>$52532043</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 International Growth Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 566996 | 1265548 | $13149495 | $27040697 |
| Reinvestment of distributions  | 312504 | 46688 | 6987596 | 959433 |
| Shares redeemed | <u>(724146)</u> | <u>(1642214)</u> | <u>(16690368)</u> | <u>(35069393)</u> |
| Net increase (decrease) | <u>155354</u> | <u>(329978)</u> | <u>$3446723</u> | <u>$(7069263)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 39318 | 109654 | $905426 | $2326094 |
| Reinvestment of distributions  | 41795 | 5288 | 925765 | 107663 |
| Shares redeemed | <u>(120000)</u> | <u>(261220)</u> | <u>(2755155)</u> | <u>(5535058)</u> |
| Net increase (decrease) | <u>(38887)</u> | <u>(146278)</u> | <u>$(923964)</u> | <u>$(3101301)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 55545 | 134868 | $1224239 | $2743088 |
| Reinvestment of distributions  | 27051 | 4496 | 571582 | 87769 |
| Shares redeemed | <u>(183405)</u> | <u>(473507)</u> | <u>(4017127)</u> | <u>(9509544)</u> |
| Net increase (decrease) | <u>(100809)</u> | <u>(334143)</u> | <u>$(2221306)</u> | <u>$(6678687)</u> |
| **International Growth** |  |  |  |  |
| Shares sold | 4968208 | 12824035 | $116907543 | $276273838 |
| Reinvestment of distributions  | 2225155 | 511084 | 50221751 | 10599872 |
| Shares redeemed | <u>(8197757)</u> | <u>(18307185)</u> | <u>(192344736)</u> | <u>(395397756)</u> |
| Net increase (decrease) | <u>(1004394)</u> | <u>(4972066)</u> | <u>$(25215442)</u> | <u>$(108524046)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 11194927 | 20441543 | $261735152 | $439927847 |
| Reinvestment of distributions  | 3030251 | 667402 | 68180651 | 13801873 |
| Shares redeemed | <u>(12946228)</u> | <u>(21811957)</u> | <u>(303093499)</u> | <u>(470979946)</u> |
| Net increase (decrease) | <u>1278950</u> | <u>(703012)</u> | <u>$26822304</u> | <u>$(17250226)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 21103297 | 70610119 | $480851926 | $1566104662 |
| Reinvestment of distributions  | 4374293 | 901011 | 98377854 | 18632896 |
| Shares redeemed | <u>(11374344)</u> | <u>(36337381)</u> | <u>(263054904)</u> | <u>(775920432)</u> |
| Net increase (decrease) | <u>14103246</u> | <u>35173749</u> | <u>$316174876</u> | <u>$808817126</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.

---

| | |
|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** |
| Fidelity International Growth Fund | 20% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| Fidelity International Growth Fund | 23 |

---

**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.

![](img131278_4.jpg)<br>

1.912353.116 IGF-SANN-0626

**Fidelity® International Discovery K6 Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131280_1.jpg)

![](img131280_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_IGI-K6-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Discovery K6 Fund](#Sub_Sec_Fund_3461_IGI-K6-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements3461_IGI-K6-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IGI-K6-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IGI-K6-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IGI-K6-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IGI-K6-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 1-800-835-5092 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® International Discovery K6 Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 95.6%** | &nbsp;&nbsp;**Common Stocks - 95.6%** | &nbsp;&nbsp;**Common Stocks - 95.6%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.9%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Hotels, Restaurants & Leisure - 0.4% |  |  |
| Aristocrat Leisure Ltd  | 72183 | 2483492 |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| DroneShield Ltd (b)(e) | 671186 | 1749647 |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Elsight Ltd (b) | 423953 | 1989809 |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Brazilian Rare Earths Ltd (b) | 267935 | 967780 |
| IperionX Ltd (b) | 1341776 | 4092818 |
| TOTAL MATERIALS |  | 5060598 |
| TOTAL AUSTRALIA |  | 11283546 |
| BAILIWICK OF JERSEY - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Capital Markets - 0.6% |  |  |
| JTC PLC (e)(f) | 200204 | 3574250 |
| BELGIUM - 0.9%  |  |  |
| Health Care - 0.9% |  |  |
| Pharmaceuticals - 0.9% |  |  |
| UCB SA (b) | 20209 | 5483669 |
| BRAZIL - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (b) | 156489 | 2265961 |
| CANADA - 2.0%  |  |  |
| Energy - 1.4% |  |  |
| Oil, Gas & Consumable Fuels - 1.4% |  |  |
| Cameco Corp  | 19615 | 2411244 |
| Canadian Natural Resources Ltd  | 131351 | 6269959 |
| TOTAL ENERGY |  | 8681203 |
| Financials - 0.3% |  |  |
| Insurance - 0.3% |  |  |
| Definity Financial Corp  | 32404 | 1651987 |
| Information Technology - 0.3% |  |  |
| IT Services - 0.3% |  |  |
| Shopify Inc Class A (b) | 13267 | 1610383 |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(b) | 4032 | 0 |
| TOTAL INFORMATION TECHNOLOGY |  | 1610383 |
| TOTAL CANADA |  | 11943573 |
| CHINA - 3.8%  |  |  |
| Communication Services - 1.3% |  |  |
| Interactive Media & Services - 1.3% |  |  |
| Tencent Holdings Ltd  | 123830 | 7520476 |
| Consumer Discretionary - 0.2% |  |  |
| Textiles, Apparel & Luxury Goods - 0.2% |  |  |
| Laopu Gold Co Ltd H Shares (d) | 19500 | 1392276 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 23700 | 1522559 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 41028 | 908988 |
| TOTAL INDUSTRIALS |  | 2431547 |
| Information Technology - 1.4% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 2900 | 118968 |
| Semiconductors & Semiconductor Equipment - 1.4% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 58391 | 3246406 |
| Montage Technology Co Ltd A Shares (China)  | 182068 | 4679292 |
|  |  | 7925698 |
| TOTAL INFORMATION TECHNOLOGY |  | 8044666 |
| Materials - 0.5% |  |  |
| Metals & Mining - 0.5% |  |  |
| Zijin Mining Group Co Ltd H Shares  | 700924 | 3255092 |
| TOTAL CHINA |  | 22644057 |
| DENMARK - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Air Freight & Logistics - 1.3% |  |  |
| DSV A/S  | 31358 | 7675560 |
| FINLAND - 0.5%  |  |  |
| Information Technology - 0.5% |  |  |
| Communications Equipment - 0.5% |  |  |
| Nokia Oyj ADR  | 231812 | 2992693 |
| FRANCE - 3.1%  |  |  |
| Communication Services - 0.4% |  |  |
| Diversified Telecommunication Services - 0.4% |  |  |
| Orange SA  | 104619 | 2178414 |
| Consumer Discretionary - 0.3% |  |  |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| Hermes International SCA  | 1095 | 2094846 |
| Financials - 0.6% |  |  |
| Insurance - 0.6% |  |  |
| AXA SA  | 72121 | 3476614 |
| Industrials - 1.8% |  |  |
| Aerospace & Defense - 1.8% |  |  |
| Dassault Aviation SA  | 7322 | 2550541 |
| Safran SA  | 25066 | 8049014 |
| TOTAL INDUSTRIALS |  | 10599555 |
| TOTAL FRANCE |  | 18349429 |
| GERMANY - 6.2%  |  |  |
| Financials - 0.7% |  |  |
| Capital Markets - 0.7% |  |  |
| Deutsche Boerse AG  | 13159 | 4037153 |
| Health Care - 0.5% |  |  |
| Health Care Providers & Services - 0.5% |  |  |
| Fresenius SE & Co KGaA  | 62255 | 3014985 |
| Industrials - 3.9% |  |  |
| Aerospace & Defense - 0.6% |  |  |
| Rheinmetall AG  | 2099 | 3340002 |
| Electrical Equipment - 1.4% |  |  |
| Siemens Energy AG  | 40889 | 8665921 |
| Industrial Conglomerates - 1.9% |  |  |
| Siemens AG  | 38416 | 11415744 |
| TOTAL INDUSTRIALS |  | 23421667 |
| Information Technology - 0.6% |  |  |
| Software - 0.6% |  |  |
| SAP SE  | 20561 | 3452052 |
| Materials - 0.5% |  |  |
| Construction Materials - 0.5% |  |  |
| Heidelberg Materials AG  | 14899 | 3287364 |
| TOTAL GERMANY |  | 37213221 |
| GREECE - 0.3%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Alpha Bank SA  | 479844 | 1925727 |
| HONG KONG - 0.1%  |  |  |
| Materials - 0.1% |  |  |
| Metals & Mining - 0.1% |  |  |
| Zijin Gold International Co Ltd  | 54118 | 1069021 |
| HUNGARY - 0.5%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| OTP Bank Nyrt  | 17535 | 2350865 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Richter Gedeon Nyrt  | 15284 | 643785 |
| TOTAL HUNGARY |  | 2994650 |
| INDIA - 0.9%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| Bharti Airtel Ltd  | 53127 | 1062047 |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.0% |  |  |
| Meesho  | 74820 | 153426 |
| Specialty Retail - 0.2% |  |  |
| Lenskart Solutions Ltd (g) | 232992 | 1276724 |
| TOTAL CONSUMER DISCRETIONARY |  | 1430150 |
| Financials - 0.2% |  |  |
| Capital Markets - 0.2% |  |  |
| 360 ONE WAM Ltd  | 96506 | 1055965 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Computer Age Management Services Ltd  | 223085 | 1746891 |
| TOTAL INDIA |  | 5295053 |
| IRELAND - 1.9%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Household Durables - 0.5% |  |  |
| Cairn Homes PLC  | 1154108 | 2955592 |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| AIB Group PLC  | 525894 | 6047477 |
| Industrials - 0.4% |  |  |
| Building Products - 0.4% |  |  |
| Kingspan Group PLC  | 28748 | 2653658 |
| TOTAL IRELAND |  | 11656727 |
| ISRAEL - 0.7%  |  |  |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (b) | 111075 | 3895400 |
| ITALY - 3.1%  |  |  |
| Communication Services - 0.6% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| Telecom Italia SpA/Milano (b) | 4296126 | 3385298 |
| Consumer Discretionary - 0.1% |  |  |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Lottomatica Group Spa  | 39300 | 1156801 |
| Financials - 1.9% |  |  |
| Banks - 1.9% |  |  |
| Intesa Sanpaolo SpA  | 845706 | 5745923 |
| UniCredit SpA  | 69656 | 5383182 |
| TOTAL FINANCIALS |  | 11129105 |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Prysmian SpA  | 20032 | 3047052 |
| TOTAL ITALY |  | 18718256 |
| JAPAN - 19.8%  |  |  |
| Consumer Discretionary - 2.5% |  |  |
| Broadline Retail - 0.4% |  |  |
| Pan Pacific International Holdings Corp  | 435981 | 2465932 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Metaplanet Inc (b)(d) | 156147 | 335734 |
| Household Durables - 1.1% |  |  |
| Panasonic Holdings Corp  | 329721 | 6744711 |
| Specialty Retail - 0.9% |  |  |
| Fast Retailing Co Ltd  | 11924 | 5613167 |
| TOTAL CONSUMER DISCRETIONARY |  | 15159544 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Kotobuki Spirits Co Ltd  | 107069 | 1370313 |
| Financials - 3.9% |  |  |
| Banks - 3.7% |  |  |
| Hachijuni Nagano Bank Ltd  | 158675 | 2149784 |
| Mitsubishi UFJ Financial Group Inc  | 626336 | 11250774 |
| Sumitomo Mitsui Financial Group Inc  | 251277 | 8872353 |
|  |  | 22272911 |
| Insurance - 0.2% |  |  |
| Tokio Marine Holdings Inc  | 25700 | 1176977 |
| TOTAL FINANCIALS |  | 23449888 |
| Health Care - 0.9% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| Hoya Corp  | 13595 | 2538782 |
| Pharmaceuticals - 0.5% |  |  |
| Chugai Pharmaceutical Co Ltd  | 5000 | 266647 |
| Takeda Pharmaceutical Co Ltd  | 85715 | 2865692 |
|  |  | 3132339 |
| TOTAL HEALTH CARE |  | 5671121 |
| Industrials - 8.4% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Furukawa Electric Co Ltd  | 5176 | 1405734 |
| Industrial Conglomerates - 1.1% |  |  |
| Hitachi Ltd  | 200294 | 6369019 |
| Machinery - 3.4% |  |  |
| IHI Corp  | 243825 | 4453602 |
| Japan Steel Works Ltd/The  | 24179 | 1477595 |
| Kawasaki Heavy Industries Ltd  | 304570 | 6261476 |
| Mitsubishi Heavy Industries Ltd  | 265492 | 7923847 |
|  |  | 20116520 |
| Professional Services - 0.1% |  |  |
| Visional Inc (b) | 15963 | 753802 |
| Trading Companies & Distributors - 3.6% |  |  |
| ITOCHU Corp  | 869024 | 10769910 |
| Marubeni Corp  | 211651 | 8237690 |
| Toyota Tsusho Corp  | 58369 | 2291321 |
|  |  | 21298921 |
| TOTAL INDUSTRIALS |  | 49943996 |
| Information Technology - 3.9% |  |  |
| Electronic Equipment, Instruments & Components - 0.6% |  |  |
| Ibiden Co Ltd  | 43841 | 3749728 |
| Semiconductors & Semiconductor Equipment - 3.3% |  |  |
| Advantest Corp  | 33917 | 6332934 |
| Disco Corp  | 6941 | 3302406 |
| Lasertec Corp  | 9944 | 2748307 |
| Renesas Electronics Corp  | 149183 | 3016875 |
| Rohm Co Ltd  | 87144 | 1885357 |
| Tokyo Seimitsu Co Ltd  | 19017 | 2101296 |
|  |  | 19387175 |
| TOTAL INFORMATION TECHNOLOGY |  | 23136903 |
| TOTAL JAPAN |  | 118731765 |
| KOREA (SOUTH) - 2.4%  |  |  |
| Communication Services - 0.3% |  |  |
| Interactive Media & Services - 0.3% |  |  |
| Webtoon Entertainment Inc (b) | 138711 | 1697823 |
| Information Technology - 2.1% |  |  |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| SK Hynix Inc  | 7244 | 6501439 |
| Technology Hardware, Storage & Peripherals - 1.0% |  |  |
| Samsung Electronics Co Ltd  | 39694 | 6015797 |
| TOTAL INFORMATION TECHNOLOGY |  | 12517236 |
| TOTAL KOREA (SOUTH) |  | 14215059 |
| NETHERLANDS - 5.9%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| ING Groep NV  | 243607 | 7050326 |
| Health Care - 0.5% |  |  |
| Biotechnology - 0.5% |  |  |
| Argenx SE (b) | 4167 | 3267878 |
| Information Technology - 4.2% |  |  |
| Semiconductors & Semiconductor Equipment - 4.2% |  |  |
| ASML Holding NV  | 14254 | 20604817 |
| BE Semiconductor Industries NV  | 15003 | 4352764 |
| TOTAL INFORMATION TECHNOLOGY |  | 24957581 |
| TOTAL NETHERLANDS |  | 35275785 |
| NORWAY - 0.2%  |  |  |
| Information Technology - 0.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| General Oceans AS  | 335710 | 1111158 |
| POLAND - 0.5%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 53764 | 1403726 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Benefit Systems SA (b) | 1289 | 1422423 |
| TOTAL POLAND |  | 2826149 |
| PORTUGAL - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Banco Comercial Portugues SA  | 6664311 | 7109806 |
| SINGAPORE - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| DBS Group Holdings Ltd  | 141700 | 6533882 |
| SPAIN - 4.1%  |  |  |
| Financials - 4.1% |  |  |
| Banks - 4.1% |  |  |
| Banco Santander SA  | 1218278 | 14841656 |
| CaixaBank SA  | 771268 | 9816972 |
| TOTAL SPAIN |  | 24658628 |
| SWEDEN - 4.3%  |  |  |
| Financials - 2.4% |  |  |
| Banks - 0.1% |  |  |
| Noba (b) | 88269 | 808812 |
| Financial Services - 2.3% |  |  |
| Investor AB B Shares  | 334511 | 13477901 |
| TOTAL FINANCIALS |  | 14286713 |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| Swedish Orphan Biovitrum AB B Shares (b) | 47033 | 2179277 |
| Industrials - 0.6% |  |  |
| Machinery - 0.6% |  |  |
| Indutrade AB  | 177587 | 3793036 |
| Information Technology - 0.9% |  |  |
| Electronic Equipment, Instruments & Components - 0.9% |  |  |
| Lagercrantz Group AB B Shares  | 210648 | 5503052 |
| Software - 0.0% |  |  |
| Kry International Ab (a)(b)(c) | 3324 | 26450 |
| TOTAL INFORMATION TECHNOLOGY |  | 5529502 |
| TOTAL SWEDEN |  | 25788528 |
| SWITZERLAND - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Capital Markets - 0.7% |  |  |
| UBS Group AG  | 95624 | 4222215 |
| TAIWAN - 6.3%  |  |  |
| Industrials - 1.2% |  |  |
| Electrical Equipment - 1.2% |  |  |
| Bizlink Holding Inc  | 79661 | 7175773 |
| Information Technology - 5.1% |  |  |
| Semiconductors & Semiconductor Equipment - 5.1% |  |  |
| MediaTek Inc  | 44604 | 3735464 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 381201 | 26547893 |
| TOTAL INFORMATION TECHNOLOGY |  | 30283357 |
| TOTAL TAIWAN |  | 37459130 |
| UNITED KINGDOM - 17.4%  |  |  |
| Communication Services - 6.3% |  |  |
| Diversified Telecommunication Services - 6.3% |  |  |
| Zegona Communications plc  | 1581560 | 37920139 |
| Consumer Discretionary - 1.6% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Compass Group PLC  | 60260 | 1702345 |
| Leisure Products - 1.3% |  |  |
| Games Workshop Group PLC  | 29492 | 7821578 |
| TOTAL CONSUMER DISCRETIONARY |  | 9523923 |
| Consumer Staples - 2.2% |  |  |
| Tobacco - 2.2% |  |  |
| British American Tobacco PLC  | 217706 | 12821758 |
| Imperial Brands PLC  | 1558 | 59193 |
| TOTAL CONSUMER STAPLES |  | 12880951 |
| Financials - 1.5% |  |  |
| Banks - 0.1% |  |  |
| Shawbrook Group PLC (e)(f) | 128793 | 574837 |
| Starling Bank Ltd (a)(c) | 137500 | 409755 |
|  |  | 984592 |
| Financial Services - 0.4% |  |  |
| Revolut Group Holdings Ltd (a)(b)(c) | 1409 | 2107822 |
| Insurance - 1.0% |  |  |
| Admiral Group PLC  | 51246 | 2355580 |
| Aviva PLC  | 422183 | 3582492 |
|  |  | 5938072 |
| TOTAL FINANCIALS |  | 9030486 |
| Health Care - 1.4% |  |  |
| Pharmaceuticals - 1.4% |  |  |
| Astrazeneca PLC  | 45214 | 8581500 |
| Industrials - 3.4% |  |  |
| Aerospace & Defense - 2.5% |  |  |
| BAE Systems PLC  | 162547 | 4521011 |
| Rolls-Royce Holdings PLC  | 635649 | 10228584 |
|  |  | 14749595 |
| Trading Companies & Distributors - 0.9% |  |  |
| Diploma PLC  | 57864 | 5464448 |
| TOTAL INDUSTRIALS |  | 20214043 |
| Utilities - 1.0% |  |  |
| Electric Utilities - 1.0% |  |  |
| SSE PLC  | 176404 | 6316037 |
| TOTAL UNITED KINGDOM |  | 104467079 |
| UNITED STATES - 3.5%  |  |  |
| Health Care - 0.2% |  |  |
| Health Care Equipment & Supplies - 0.1% |  |  |
| Alcon AG (United States)  | 11975 | 896568 |
| Pharmaceuticals - 0.1% |  |  |
| Viatris Inc  | 28975 | 432887 |
| TOTAL HEALTH CARE |  | 1329455 |
| Industrials - 2.4% |  |  |
| Construction & Engineering - 0.7% |  |  |
| Ferrovial SE  | 60786 | 4169197 |
| Electrical Equipment - 1.7% |  |  |
| Schneider Electric SE  | 32357 | 10296283 |
| TOTAL INDUSTRIALS |  | 14465480 |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Canva Inc Class A (a)(b)(c) | 540 | 665690 |
| Materials - 0.8% |  |  |
| Construction Materials - 0.8% |  |  |
| CRH PLC  | 21618 | 2560004 |
| Holcim AG  | 22867 | 2124948 |
| TOTAL MATERIALS |  | 4684952 |
| TOTAL UNITED STATES |  | 21145577 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $362,215,143) |  | <br> **572525554** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.2%  |  |  |
| Information Technology - 0.2% |  |  |
| Software - 0.2% |  |  |
| Valsoft Corp Series A-1.2 (a)(b)(c) | 64 | 570376 |
| Valsoft Corp Series A-1.3 (a)(b)(c) | 23 | 204979 |
| Valsoft Corp Series A-1.4 (a)(b)(c) | 29 | 258452 |
| TOTAL CANADA |  | 1033807 |
| CHINA - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| Bytedance Ltd Series E1 (a)(b)(c) | 1533 | 462200 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(c) | 7322 | 50741 |
| TOTAL CHINA |  | 512941 |
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (a)(b)(c) | 3347 | 694743 |
| INDIA - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.1% |  |  |
| Valuedrive Technologies Pvt Ltd Series A (a)(c) | 79 | 105868 |
| Valuedrive Technologies Pvt Ltd Series B (a)(c) | 159 | 213076 |
| Valuedrive Technologies Pvt Ltd Series C (a)(c) | 1 | 1340 |
| Valuedrive Technologies Pvt Ltd Series C1 (a)(c) | 1 | 1340 |
| Valuedrive Technologies Pvt Ltd Series G (a)(c) | 1019800 | 379618 |
| Valuedrive Technologies Pvt Ltd Series S2 (a)(c) | 39 | 52264 |
| TOTAL INDIA |  | 753506 |
| UNITED STATES - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Canva Inc Series A2 (a)(b)(c) | 15 | 18490 |
| Canvas Inc Series A (a)(b)(c) | 85 | 104785 |
| TOTAL UNITED STATES |  | 123275 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $3,397,141) |  | <br> **3118272** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 (h) | 3.69 | 16881376 | 16884753 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 1408147 | 1408287 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $18,293,040) |  |  | **18293040** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.2%**<br> (Cost $383,905,324)<br>| <br>**593936866** |
| **NET OTHER ASSETS (LIABILITIES) - 0.8%**  | **4979492** |
| **NET ASSETS - 100.0%** | **598916358** |

---

**Legend**

(a) Level 3 security.

(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 $6,327,989 or 1.1% of net assets.

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

(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 $5,898,734 or 1.0% of net assets.

(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 $4,149,087 or 0.7% of net assets.

(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 $1,276,724 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Bolt Technology OU Series E | 1/3/2022 | 869539 |
| Bytedance Ltd Series E1 | 11/18/2020 | 167978 |
| Canva Inc Class A | 3/18/2024 - 11/12/2025 | 657124 |
| Canva Inc Series A2 | 9/22/2023 | 16000 |
| Canvas Inc Series A | 9/22/2023 | 90666 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 103995 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 219661 |
| Revolut Group Holdings Ltd | 12/27/2024 | 1225512 |
| Starling Bank Ltd | 6/18/2021 - 4/5/2022 | 286270 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 749677 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 228318 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 381683 |
| Valuedrive Technologies Pvt Ltd Series A | 2/12/2026 | 104423 |
| Valuedrive Technologies Pvt Ltd Series B | 2/12/2026 | 210168 |
| Valuedrive Technologies Pvt Ltd Series C | 2/12/2026 | 1201 |
| Valuedrive Technologies Pvt Ltd Series C1 | 2/12/2026 | 1201 |
| Valuedrive Technologies Pvt Ltd Series G | 2/12/2026 | 425438 |
| Valuedrive Technologies Pvt Ltd Series S2 | 2/12/2026 | 46854 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Lenskart Solutions Ltd | 5/7/2026 |

---

**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 | 24097363 | 142271407 | 149483364 | 306855 | (653) | - | 16884753 | 16881376 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 1559664 | 29327375 | 29478672 | 27687 | (80) | - | 1408287 | 1408147 | 0.0% |
| Total | 25657027 | 171598782 | 178962036 | 334542 | (733) | - | 18293040 |  |  |

---

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 | 53764197 | 43003260 | 10760937 | - |
| Consumer Discretionary | 36196624 | 13636316 | 22560308 | - |
| Consumer Staples | 14251264 | - | 14251264 | - |
| Energy | 8681203 | 8681203 | - | - |
| Financials | 135260774 | 64267565 | 68475632 | 2517577 |
| Health Care | 34067070 | 22113086 | 11953984 | - |
| Industrials | 150340328 | 39734786 | 110605542 | - |
| Information Technology | 116291030 | 15570050 | 100028840 | 692140 |
| Materials | 17357027 | 2560004 | 14797023 | - |
| Utilities | 6316037 | - | 6316037 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 462200 | - | - | 462200 |
| Consumer Discretionary | 753506 | - | - | 753506 |
| Health Care | 50741 | - | - | 50741 |
| Information Technology | 1851825 | - | - | 1851825 |
|  **Money Market Funds** | 18293040 | 18293040 | - | - |
| **Total Investments in Securities:** | 593936866 | 227859310 | 359749567 | 6327989 |

---

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value. Beginning balances have been updated to conform to current period presentation, as applicable.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning Balance ($)** | **Net Realized Gain (Loss) on Investment Securities ($)** | **Net Unrealized Gain (Loss) on Investment Securities ($)** | **Cost of Purchases ($)** | **Proceeds of Sales ($)** | **Amortization/**<br> **Accretion ($)** | **Transfers into Level 3 ($)** | **Transfers out of Level 3 ($)** | **Ending Balance ($)** | **The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2026 ($)** |
| **Common Stocks** | 3201571 | - | (57700) | 285507 | (219661) | - | - | - | 3209717 | (207553) |
| **Convertible Preferred Stocks** | 2653183 | (4) | (324195) | 789288 | - | - | - | - | 3118272 | (324195) |
| <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. |  |  |  |

---

**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 $1,416,571) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $365,612,284) | $575643826 |  |
| Fidelity Central Funds (cost $18,293,040) | 18293040 |  |
| Total Investment in Securities (cost $383,905,324) |  | $593936866 |
| Cash |  | 248 |
| Foreign currency held at value (cost $174,503) |  | 174410 |
| Receivable for investments sold |  | 3767014 |
| Receivable for fund shares sold |  | 279418 |
| Dividends receivable |  | 2162184 |
| Reclaims receivable |  | 1401612 |
| Distributions receivable from Fidelity Central Funds |  | 54279 |
| Other receivables |  | 48428 |
| **Total assets** |  | 601824459 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $48068 |  |
| Payable for fund shares redeemed | 1132015 |  |
| Accrued management fee | 293205 |  |
| Other payables and accrued expenses | 26446 |  |
| Collateral on securities loaned | 1408367 |  |
| **Total liabilities** |  | 2908101 |
| **Net Assets**  |  | $598916358 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $421894317 |
| Total accumulated earnings (loss) |  | 177022041 |
| **Net Assets** |  | $598916358 |
| **Net Asset Value**, offering price and redemption price per share ($598,916,358 ÷ 33,800,415 shares) |  | $17.72 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $5333216 |
| Special dividends |  | 3429687 |
| Income from Fidelity Central Funds (including $27,687 from security lending)  |  | 334542 |
| Security lending |  | 3530 |
| Income before foreign taxes withheld |  | $9100975 |
| Less foreign taxes withheld |  | (456127) |
| **Total income** |  | 8644848 |
| **Expenses** |  |  |
| Management fee | $1770660 |  |
| Independent trustees' fees and expenses | 949 |  |
| Interest | 4440 |  |
| Total expenses before reductions | 1776049 |  |
| Expense reductions | (111) |  |
| Total expenses after reductions |  | 1775938 |
| **Net Investment income (loss)** |  | 6868910 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $237,694)  | 46620996 |  |
| Fidelity Central Funds | (733) |  |
| Foreign currency transactions | (93521) |  |
| Total net realized gain (loss) |  | 46526742 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $326,875)  | (8661901) |  |
| Assets and liabilities in foreign currencies | 92679 |  |
| Total change in net unrealized appreciation (depreciation) |  | (8569222) |
| **Net gain (loss)** |  | 37957520 |
| **Net increase (decrease) in net assets resulting from operations** |  | $44826430 |

---

---

| | | |
|:---|:---|:---|
| **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) | $6868910 | $7714632 |
| &nbsp;&nbsp;Net realized gain (loss) | 46526742<br>| 39321486<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (8569222) | 87074045<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 44826430<br>| 134110163<br>|
| Distributions to shareholders | (17129832)<br>| (20770849)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 68175143 | 115796946 |
| Reinvestment of distributions | 17129831<br>| 20770849<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (150210802) | (164432659) |
| **Net increase (decrease) in net assets resulting from share transactions** | (64905828)<br>| (27864864)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | (37209230)<br>| 85474450<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 636125588 | 550651138<br>|
| &nbsp;&nbsp;End of period | $598916358 | $636125588 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 4007483 | 7879090 |
| Issued in reinvestment of distributions | 1061986<br>| 1540864<br>|
| &nbsp;&nbsp;Redeemed | (9013545) | (11479198) |
| &nbsp;&nbsp;Net increase (decrease) | (3944076) | (2059244) |

---

**Financial Highlights** 

**Fidelity® International Discovery K6 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  | $16.85 | $13.83 | $10.86 | $10.23 | $14.97 | $11.29 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .20 C | .20  | .17  | .19  | .24  | .16  |
| Net realized and unrealized gain (loss)  | 1.18  | 3.35  | 3.00  | .55  | (4.70)  | 3.60  |
| Total from investment operations  | 1.38  | 3.55  | 3.17  | .74  | (4.46)  | 3.76  |
| Distributions from net investment income  | (.51)  | (.53)  | (.20)  | (.11)  | (.28)  | (.08)  |
| Total distributions  | (.51)  | (.53)  | (.20)  | (.11)  | (.28)  | (.08)  |
| Net asset value, end of period  | $17.72 | $16.85 | $13.83 | $10.86 | $10.23 | $14.97 |
| **Total Return** D,E | 8.46% <br>| 26.64%  | 29.50%  | 7.19%  | (30.35)%  | 33.43%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .60% H | .60%  | .60%  | .60%  | .60%  | .60%  |
| Expenses net of fee waivers, if any  | .60% H<br>| .60%  | .60%  | .60%  | .60%  | .60%  |
| Expenses net of all reductions, if any  | .60% H | .60%  | .60%  | .60%  | .60%  | .60%  |
| Net investment income (loss)  | 1.75% C,H | 1.36%  | 1.31%  | 1.62%  | 1.98%  | 1.11%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $598916 | $636126 | $550651 | $583383 | $468052 | $430892 |
| Portfolio turnover rate I | 76% H<br>| 54%  | 48% J | 55% J | 50% J | 58% J |

---

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 $.10 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been 1.17%.*

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.* 

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 International Discovery K6 Fund (the Fund) is a 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. Shares generally are available only to employer-sponsored retirement plans that are recordkept by Fidelity, or to certain employer-sponsored retirement plans that are not recordkept by Fidelity. 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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Fair Value** | **Valuation Technique (s)** | **Unobservable Input** | **Amount or Range / Weighted Average** | **Impact to Valuation from an Increase in Input\*** |
| Convertible Preferred Stocks | $3118272 | Market comparable  | Enterprise value/EBITDA multiple (EV/EBITDA)  | 8.5 | Increase |
|  |  |  | Enterprise value/Revenue multiple (EV/R)  | 2.0 - 7.8 / 2.7 | Increase |
|  |  |  | Enterprise value/Gross profit multiple (EV/GP) | 7.3 | Increase |
|  |  | Market approach  | Transaction price  | $15.40  | Increase |
|  |  |  | Discount rate  | 25.0% | Decrease |
|  |  | Black scholes  | Discount rate  | 3.8% | Increase |
|  |  |  | Term  | 3.0 | Increase |
|  |  |  | Volatility  | 60.0% | Increase |
| Common Stocks | $3209717 | Market comparable | Enterprise value/Revenue multiple (EV/R)  | 1.3 - 7.8 / 7.5 | Increase |
|  |  |  | Enterprise value/Net income (EV/NI)  | 14.0 - 30.0 / 27.4 | Increase |
|  |  | Recovery value | Recovery value | $0.00  | Increase |
|  |  | Black scholes | Discount rate | 2.4% | Increase |
|  |  |  | Term | 2.0 | Increase |
|  |  |  | Volatility | 75.0% | Increase |

---

*A Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end.* 

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, as well as a roll forward of Level 3 investments, 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. Large, non-recurring dividends recognized by the Fund are presented separately on the Statement of Operations as "Special Dividends" and the impact of these dividends is presented in the Financial Highlights. 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. 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 foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), capital loss carryforward 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** | $208135183 |
| **Gross unrealized depreciation** | <u>(10692911)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$197442272</u> |
| **Tax cost** | <u>$396494594</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 | $(66001931) |

---

Due to large subscriptions in a prior period, approximately $58,410,947 of the Fund's realized capital losses are subject to limitation. Due to this limitation, the Fund will only be permitted to use approximately $11,985,573 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 International Discovery K6 Fund** | 218025714 | 289650001 |

---

**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 .60% of average net assets. 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.

**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 International Discovery K6 Fund** | 366 |

---

**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 International Discovery K6 Fund**  | Borrower | 38289000 | 4.18% | 4440 |

---

**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 International Discovery K6 Fund** | 8852057 | 5855480 | 949807 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Discovery K6 Fund** | 11510 |

---

**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 International Discovery K6 Fund** | 3358 | - | - |

---

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 International Discovery K6 Fund** | 81136 |

---

**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 $111.

**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.

![](img131280_4.jpg)<br>

1.9893916.106 IGI-K6-SANN-0626

**Fidelity® International Discovery Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131281_1.jpg)

![](img131281_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7Consolidated_IGI-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Discovery Fund](#Sub_Sec_Fund_305_IGI-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Consolidated Financial Statements](#Sub_Sec_NotestoFinancialStatements305_IGI-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IGI-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IGI-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IGI-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IGI-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: Consolidated Financial Statements and Consolidated Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)**

**Fidelity® International Discovery Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 95.2%** | &nbsp;&nbsp;**Common Stocks - 95.2%** | &nbsp;&nbsp;**Common Stocks - 95.2%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.9%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Hotels, Restaurants & Leisure - 0.4% |  |  |
| Aristocrat Leisure Ltd  | 1565253 | 53853298 |
| Industrials - 0.3% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| DroneShield Ltd (b)(f) | 14225413 | 37082802 |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Elsight Ltd (b) | 9067066 | 42555958 |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Brazilian Rare Earths Ltd (b) | 5919602 | 21381591 |
| IperionX Ltd (b)(e) | 26335995 | 80332653 |
| TOTAL MATERIALS |  | 101714244 |
| TOTAL AUSTRALIA |  | 235206302 |
| BAILIWICK OF JERSEY - 0.6%  |  |  |
| Financials - 0.6% |  |  |
| Capital Markets - 0.6% |  |  |
| JTC PLC (f)(g) | 4346297 | 77594614 |
| BELGIUM - 1.0%  |  |  |
| Health Care - 1.0% |  |  |
| Pharmaceuticals - 1.0% |  |  |
| UCB SA (b) | 446049 | 121034451 |
| BRAZIL - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (b) | 3421530 | 49543754 |
| CANADA - 2.1%  |  |  |
| Energy - 1.5% |  |  |
| Oil, Gas & Consumable Fuels - 1.5% |  |  |
| Cameco Corp  | 464617 | 57114696 |
| Canadian Natural Resources Ltd  | 2766680 | 132065765 |
| TOTAL ENERGY |  | 189180461 |
| Financials - 0.3% |  |  |
| Insurance - 0.3% |  |  |
| Definity Financial Corp  | 717479 | 36577775 |
| Information Technology - 0.3% |  |  |
| IT Services - 0.3% |  |  |
| Shopify Inc Class A (b) | 276100 | 33513725 |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(b) | 50942 | 3 |
| TOTAL INFORMATION TECHNOLOGY |  | 33513728 |
| TOTAL CANADA |  | 259271964 |
| CHINA - 3.8%  |  |  |
| Communication Services - 1.3% |  |  |
| Interactive Media & Services - 1.3% |  |  |
| Tencent Holdings Ltd  | 2679300 | 162719959 |
| Consumer Discretionary - 0.2% |  |  |
| Textiles, Apparel & Luxury Goods - 0.2% |  |  |
| Laopu Gold Co Ltd H Shares (d) | 411400 | 29373457 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 496442 | 31892928 |
| Ningbo Deye Technology Co Ltd A Shares (China)  | 857900 | 19007032 |
| TOTAL INDUSTRIALS |  | 50899960 |
| Information Technology - 1.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 60300 | 2473716 |
| Semiconductors & Semiconductor Equipment - 1.3% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 1102200 | 61279790 |
| Montage Technology Co Ltd A Shares (China)  | 3884700 | 99839858 |
|  |  | 161119648 |
| TOTAL INFORMATION TECHNOLOGY |  | 163593364 |
| Materials - 0.6% |  |  |
| Metals & Mining - 0.6% |  |  |
| Zijin Mining Group Co Ltd H Shares  | 15152000 | 70365915 |
| TOTAL CHINA |  | 476952655 |
| DENMARK - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Air Freight & Logistics - 1.3% |  |  |
| DSV A/S  | 680300 | 166518387 |
| FINLAND - 0.5%  |  |  |
| Information Technology - 0.5% |  |  |
| Communications Equipment - 0.5% |  |  |
| Nokia Oyj ADR  | 4853100 | 62653521 |
| FRANCE - 3.2%  |  |  |
| Communication Services - 0.4% |  |  |
| Diversified Telecommunication Services - 0.4% |  |  |
| Orange SA  | 2176000 | 45309437 |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| Hermes International SCA  | 23901 | 45725044 |
| Financials - 0.6% |  |  |
| Insurance - 0.6% |  |  |
| AXA SA  | 1609299 | 77576733 |
| Industrials - 1.8% |  |  |
| Aerospace & Defense - 1.8% |  |  |
| Dassault Aviation SA  | 156600 | 54549938 |
| Safran SA  | 541875 | 174003009 |
| TOTAL INDUSTRIALS |  | 228552947 |
| TOTAL FRANCE |  | 397164161 |
| GERMANY - 6.5%  |  |  |
| Financials - 0.7% |  |  |
| Capital Markets - 0.7% |  |  |
| Deutsche Boerse AG  | 285400 | 87560118 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.6% |  |  |
| Fresenius SE & Co KGaA  | 1565600 | 75821398 |
| Industrials - 4.0% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Rheinmetall AG  | 44474 | 70768571 |
| Electrical Equipment - 1.5% |  |  |
| Siemens Energy AG  | 887800 | 188158306 |
| Industrial Conglomerates - 2.0% |  |  |
| Siemens AG  | 829137 | 246387323 |
| TOTAL INDUSTRIALS |  | 505314200 |
| Information Technology - 0.6% |  |  |
| Software - 0.6% |  |  |
| SAP SE  | 440921 | 74027634 |
| Materials - 0.6% |  |  |
| Construction Materials - 0.6% |  |  |
| Heidelberg Materials AG  | 320300 | 70672039 |
| TOTAL GERMANY |  | 813395389 |
| GREECE - 0.3%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| Alpha Bank SA  | 10480200 | 42059503 |
| HONG KONG - 0.1%  |  |  |
| Materials - 0.1% |  |  |
| Metals & Mining - 0.1% |  |  |
| Zijin Gold International Co Ltd  | 1109100 | 21908646 |
| HUNGARY - 0.5%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| OTP Bank Nyrt  | 366700 | 49162356 |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Richter Gedeon Nyrt  | 333225 | 14035943 |
| TOTAL HUNGARY |  | 63198299 |
| INDIA - 0.9%  |  |  |
| Communication Services - 0.2% |  |  |
| Wireless Telecommunication Services - 0.2% |  |  |
| Bharti Airtel Ltd  | 1131350 | 22616497 |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.0% |  |  |
| Meesho  | 1195975 | 2452464 |
| Specialty Retail - 0.1% |  |  |
| Lenskart Solutions Ltd (h) | 3178393 | 17416616 |
| Lenskart Solutions Ltd (b) | 92001 | 503242 |
|  |  | 17919858 |
| TOTAL CONSUMER DISCRETIONARY |  | 20372322 |
| Financials - 0.3% |  |  |
| Capital Markets - 0.2% |  |  |
| 360 ONE WAM Ltd  | 2085500 | 22819473 |
| Financial Services - 0.1% |  |  |
| Pine Labs Ltd (h) | 7241995 | 14899058 |
| TOTAL FINANCIALS |  | 37718531 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Computer Age Management Services Ltd  | 4143500 | 32446116 |
| TOTAL INDIA |  | 113153466 |
| IRELAND - 2.0%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Household Durables - 0.5% |  |  |
| Cairn Homes PLC  | 25082401 | 64234311 |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| AIB Group PLC  | 11164400 | 128384155 |
| Industrials - 0.5% |  |  |
| Building Products - 0.5% |  |  |
| Kingspan Group PLC  | 618037 | 57049495 |
| TOTAL IRELAND |  | 249667961 |
| ISRAEL - 0.7%  |  |  |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (b) | 2417100 | 84767697 |
| ITALY - 3.2%  |  |  |
| Communication Services - 0.6% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| Telecom Italia SpA/Milano (b) | 88365000 | 69630614 |
| Consumer Discretionary - 0.2% |  |  |
| Hotels, Restaurants & Leisure - 0.2% |  |  |
| Lottomatica Group Spa  | 841901 | 24781475 |
| Financials - 1.9% |  |  |
| Banks - 1.9% |  |  |
| Intesa Sanpaolo SpA  | 18359300 | 124737352 |
| UniCredit SpA  | 1480102 | 114385814 |
| TOTAL FINANCIALS |  | 239123166 |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Prysmian SpA  | 416400 | 63338280 |
| TOTAL ITALY |  | 396873535 |
| JAPAN - 20.4%  |  |  |
| Consumer Discretionary - 2.6% |  |  |
| Broadline Retail - 0.4% |  |  |
| Pan Pacific International Holdings Corp  | 9627920 | 54456030 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Metaplanet Inc (b)(d) | 3078200 | 6618487 |
| Household Durables - 1.1% |  |  |
| Panasonic Holdings Corp  | 7021300 | 143626379 |
| Specialty Retail - 1.0% |  |  |
| Fast Retailing Co Ltd  | 257180 | 121066287 |
| TOTAL CONSUMER DISCRETIONARY |  | 325767183 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Kotobuki Spirits Co Ltd  | 2390500 | 30594608 |
| Financials - 4.1% |  |  |
| Banks - 3.9% |  |  |
| Hachijuni Nagano Bank Ltd  | 3362000 | 45549543 |
| Mitsubishi UFJ Financial Group Inc  | 13499786 | 242494504 |
| Sumitomo Mitsui Financial Group Inc  | 5442018 | 192152508 |
|  |  | 480196555 |
| Insurance - 0.2% |  |  |
| Tokio Marine Holdings Inc  | 533700 | 24441736 |
| TOTAL FINANCIALS |  | 504638291 |
| Health Care - 0.9% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| Hoya Corp  | 279400 | 52176218 |
| Pharmaceuticals - 0.5% |  |  |
| Chugai Pharmaceutical Co Ltd  | 93500 | 4986299 |
| Takeda Pharmaceutical Co Ltd  | 1756500 | 58724705 |
|  |  | 63711004 |
| TOTAL HEALTH CARE |  | 115887222 |
| Industrials - 8.7% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Furukawa Electric Co Ltd  | 108200 | 29385699 |
| Industrial Conglomerates - 1.2% |  |  |
| Hitachi Ltd  | 4619081 | 146879150 |
| Machinery - 3.4% |  |  |
| IHI Corp  | 5191300 | 94822049 |
| Japan Steel Works Ltd/The  | 527100 | 32211431 |
| Kawasaki Heavy Industries Ltd  | 6501200 | 133654352 |
| Mitsubishi Heavy Industries Ltd  | 5745291 | 171473370 |
|  |  | 432161202 |
| Professional Services - 0.1% |  |  |
| Visional Inc (b) | 360594 | 17027918 |
| Trading Companies & Distributors - 3.8% |  |  |
| ITOCHU Corp  | 18727135 | 232087442 |
| Marubeni Corp  | 4572200 | 177955050 |
| Toyota Tsusho Corp  | 1234500 | 48461289 |
|  |  | 458503781 |
| TOTAL INDUSTRIALS |  | 1083957750 |
| Information Technology - 3.9% |  |  |
| Electronic Equipment, Instruments & Components - 0.7% |  |  |
| Ibiden Co Ltd (d) | 1004100 | 85880828 |
| Semiconductors & Semiconductor Equipment - 3.2% |  |  |
| Advantest Corp  | 720200 | 134474714 |
| Disco Corp  | 149800 | 71272218 |
| Lasertec Corp  | 206700 | 57127420 |
| Renesas Electronics Corp  | 3057100 | 61822657 |
| Rohm Co Ltd  | 1779600 | 38501574 |
| Tokyo Seimitsu Co Ltd  | 398311 | 44011633 |
|  |  | 407210216 |
| TOTAL INFORMATION TECHNOLOGY |  | 493091044 |
| TOTAL JAPAN |  | 2553936098 |
| KOREA (SOUTH) - 2.4%  |  |  |
| Communication Services - 0.3% |  |  |
| Interactive Media & Services - 0.3% |  |  |
| Webtoon Entertainment Inc (b) | 2905300 | 35560872 |
| Information Technology - 2.1% |  |  |
| Semiconductors & Semiconductor Equipment - 1.1% |  |  |
| SK Hynix Inc  | 151940 | 136365085 |
| Technology Hardware, Storage & Peripherals - 1.0% |  |  |
| Samsung Electronics Co Ltd  | 845350 | 128116442 |
| TOTAL INFORMATION TECHNOLOGY |  | 264481527 |
| TOTAL KOREA (SOUTH) |  | 300042399 |
| NETHERLANDS - 6.1%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| ING Groep NV  | 5326179 | 154147039 |
| Health Care - 0.6% |  |  |
| Biotechnology - 0.6% |  |  |
| Argenx SE (b) | 88900 | 69717861 |
| Information Technology - 4.3% |  |  |
| Semiconductors & Semiconductor Equipment - 4.3% |  |  |
| ASML Holding NV  | 305714 | 441923737 |
| BE Semiconductor Industries NV  | 326750 | 94798762 |
| TOTAL INFORMATION TECHNOLOGY |  | 536722499 |
| TOTAL NETHERLANDS |  | 760587399 |
| NORWAY - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| General Oceans AS  | 6973700 | 23082076 |
| POLAND - 0.5%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 1201900 | 31380439 |
| Industrials - 0.3% |  |  |
| Professional Services - 0.3% |  |  |
| Benefit Systems SA (b) | 29600 | 32663871 |
| TOTAL POLAND |  | 64044310 |
| PORTUGAL - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| Banco Comercial Portugues SA  | 144696700 | 154369364 |
| SINGAPORE - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| DBS Group Holdings Ltd  | 3085000 | 142251408 |
| SPAIN - 4.2%  |  |  |
| Financials - 4.2% |  |  |
| Banks - 4.2% |  |  |
| Banco Santander SA  | 26200100 | 319182379 |
| CaixaBank SA  | 16658053 | 212029603 |
| TOTAL SPAIN |  | 531211982 |
| SWEDEN - 4.3%  |  |  |
| Financials - 2.5% |  |  |
| Banks - 0.1% |  |  |
| Noba (b) | 1994000 | 18271089 |
| Financial Services - 2.4% |  |  |
| Investor AB B Shares  | 7198433 | 290034614 |
| TOTAL FINANCIALS |  | 308305703 |
| Health Care - 0.4% |  |  |
| Biotechnology - 0.4% |  |  |
| Swedish Orphan Biovitrum AB B Shares (b) | 983300 | 45561262 |
| Industrials - 0.6% |  |  |
| Machinery - 0.6% |  |  |
| Indutrade AB  | 3751922 | 80136364 |
| Information Technology - 0.8% |  |  |
| Electronic Equipment, Instruments & Components - 0.8% |  |  |
| Lagercrantz Group AB B Shares  | 3740597 | 97720830 |
| Software - 0.0% |  |  |
| Kry International Ab (a)(b)(c) | 194526 | 1547911 |
| TOTAL INFORMATION TECHNOLOGY |  | 99268741 |
| TOTAL SWEDEN |  | 533272070 |
| SWITZERLAND - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Capital Markets - 0.7% |  |  |
| UBS Group AG  | 2013440 | 88902131 |
| TAIWAN - 6.4%  |  |  |
| Industrials - 1.2% |  |  |
| Electrical Equipment - 1.2% |  |  |
| Bizlink Holding Inc  | 1640000 | 147729356 |
| Information Technology - 5.2% |  |  |
| Semiconductors & Semiconductor Equipment - 5.2% |  |  |
| MediaTek Inc  | 964500 | 80774256 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 8190000 | 570374274 |
| TOTAL INFORMATION TECHNOLOGY |  | 651148530 |
| TOTAL TAIWAN |  | 798877886 |
| UNITED KINGDOM - 15.2%  |  |  |
| Communication Services - 3.9% |  |  |
| Diversified Telecommunication Services - 3.9% |  |  |
| Zegona Communications plc (e) | 20594092 | 493772495 |
| Consumer Discretionary - 1.5% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Compass Group PLC  | 1294092 | 36558099 |
| Leisure Products - 1.2% |  |  |
| Games Workshop Group PLC  | 567257 | 150442328 |
| TOTAL CONSUMER DISCRETIONARY |  | 187000427 |
| Consumer Staples - 2.2% |  |  |
| Tobacco - 2.2% |  |  |
| British American Tobacco PLC  | 4686099 | 275987005 |
| Imperial Brands PLC  | 31292 | 1188867 |
| TOTAL CONSUMER STAPLES |  | 277175872 |
| Financials - 1.6% |  |  |
| Banks - 0.3% |  |  |
| Shawbrook Group PLC (f)(g) | 2958852 | 13206126 |
| Starling Bank Ltd (a)(c) | 6223100 | 18545102 |
|  |  | 31751228 |
| Financial Services - 0.3% |  |  |
| Revolut Group Holdings Ltd (a)(b)(c) | 25338 | 37904888 |
| Insurance - 1.0% |  |  |
| Admiral Group PLC  | 1055900 | 48535642 |
| Aviva PLC  | 9166588 | 77784338 |
|  |  | 126319980 |
| TOTAL FINANCIALS |  | 195976096 |
| Health Care - 1.5% |  |  |
| Pharmaceuticals - 1.5% |  |  |
| Astrazeneca PLC  | 976600 | 185356150 |
| Industrials - 3.4% |  |  |
| Aerospace & Defense - 2.5% |  |  |
| BAE Systems PLC  | 3445163 | 95822250 |
| Rolls-Royce Holdings PLC  | 13724967 | 220856132 |
|  |  | 316678382 |
| Trading Companies & Distributors - 0.9% |  |  |
| Diploma PLC  | 1221800 | 115381965 |
| TOTAL INDUSTRIALS |  | 432060347 |
| Utilities - 1.1% |  |  |
| Electric Utilities - 1.1% |  |  |
| SSE PLC  | 3822469 | 136861152 |
| TOTAL UNITED KINGDOM |  | 1908202539 |
| UNITED STATES - 3.6%  |  |  |
| Health Care - 0.2% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Alcon AG (United States)  | 270500 | 20252335 |
| Pharmaceuticals - 0.0% |  |  |
| Viatris Inc  | 535023 | 7993244 |
| TOTAL HEALTH CARE |  | 28245579 |
| Industrials - 2.5% |  |  |
| Construction & Engineering - 0.7% |  |  |
| Ferrovial SE  | 1291700 | 88595257 |
| Electrical Equipment - 1.8% |  |  |
| Schneider Electric SE  | 698765 | 222353187 |
| TOTAL INDUSTRIALS |  | 310948444 |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Canva Inc Class A (a)(b)(c) | 7900 | 9738804 |
| Materials - 0.8% |  |  |
| Construction Materials - 0.8% |  |  |
| CRH PLC  | 457200 | 54141624 |
| Holcim AG  | 516310 | 47978844 |
| TOTAL MATERIALS |  | 102120468 |
| TOTAL UNITED STATES |  | 451053295 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $7,803,973,782) |  | <br> **11940797262** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.7%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.7%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.7%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Valsoft Corp Series A-1.2 (a)(b)(c) | 1026 | 9143846 |
| Valsoft Corp Series A-1.3 (a)(b)(c) | 363 | 3235103 |
| Valsoft Corp Series A-1.4 (a)(b)(c) | 469 | 4179789 |
| TOTAL CANADA |  | 16558738 |
| CHINA - 0.4%  |  |  |
| Communication Services - 0.4% |  |  |
| Interactive Media & Services - 0.4% |  |  |
| Bytedance Ltd Series E1 (a)(b)(c) | 131235 | 39567353 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(c) | 631853 | 4378741 |
| TOTAL CHINA |  | 43946094 |
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (a)(b)(c) | 87239 | 18108351 |
| INDIA - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.1% |  |  |
| Valuedrive Technologies Pvt Ltd Series A (a)(c) | 1504 | 2015511 |
| Valuedrive Technologies Pvt Ltd Series B (a)(c) | 3024 | 4052464 |
| Valuedrive Technologies Pvt Ltd Series C (a)(c) | 13 | 17421 |
| Valuedrive Technologies Pvt Ltd Series C1 (a)(c) | 11 | 14741 |
| Valuedrive Technologies Pvt Ltd Series G (a)(c) | 19366900 | 7209278 |
| Valuedrive Technologies Pvt Ltd Series S2 (a)(c) | 732 | 980954 |
| TOTAL INDIA |  | 14290369 |
| UNITED STATES - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Canva Inc Series A2 (a)(b)(c) | 169 | 208335 |
| Canvas Inc Series A (a)(b)(c) | 931 | 1147700 |
| TOTAL UNITED STATES |  | 1356035 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $83,959,263) |  | <br> **94259587** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** | &nbsp;&nbsp;**Money Market Funds - 3.9%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (i) | 3.69 | 366447354 | 366520644 |
| Fidelity Securities Lending Cash Central Fund (i)(j) | 3.69 | 119231139 | 119243062 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $485,763,706) |  |  | **485763706** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $8,373,696,751)<br>| <br>**12520820555** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **20461722** |
| **NET ASSETS - 100.0%** | **12541282277** |

---

**Legend**

(a) Level 3 security.

(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 $161,996,292 or 1.3% of net assets.

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

(e) Affiliated company.

(f) 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 $127,883,542 or 1.0% of net assets.

(g) 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 $90,800,740 or 0.7% of net assets.

(h) 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 $32,315,674 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Bolt Technology OU Series E | 1/3/2022 | 22664387 |
| Bytedance Ltd Series E1 | 11/18/2020 | 14379968 |
| Canva Inc Class A | 3/18/2024 - 11/12/2025 | 9585580 |
| Canva Inc Series A2 | 9/22/2023 | 180266 |
| Canvas Inc Series A | 9/22/2023 | 993061 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 8974301 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 12863694 |
| Revolut Group Holdings Ltd | 12/27/2024 | 22037614 |
| Starling Bank Ltd | 6/18/2021 | 11126191 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 12018267 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 3603455 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 6172730 |
| Valuedrive Technologies Pvt Ltd Series A | 2/12/2026 | 1988000 |
| Valuedrive Technologies Pvt Ltd Series B | 2/12/2026 | 3997148 |
| Valuedrive Technologies Pvt Ltd Series C | 2/12/2026 | 15618 |
| Valuedrive Technologies Pvt Ltd Series C1 | 2/12/2026 | 13214 |
| Valuedrive Technologies Pvt Ltd Series G | 2/12/2026 | 8079430 |
| Valuedrive Technologies Pvt Ltd Series S2 | 2/12/2026 | 879418 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Lenskart Solutions Ltd | 5/7/2026 |
| 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 | 464941083 | 2465237284 | 2563677670 | 6382441 | 19947 | - | 366520644 | 366447354 | 0.6% |
| Fidelity Securities Lending Cash Central Fund | 36660131 | 725271374 | 642692304 | 757937 | 3861 | - | 119243062 | 119231139 | 0.3% |
| Total | 501601214 | 3190508658 | 3206369974 | 7140378 | 23808 | - | 485763706 |  |  |

---

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.

**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  |
| IperionX Ltd | 115148974 | 2471639 | - | - | - | (37287960) | 80332653 | 26335995 |
| Zegona Communications plc | 332769842 | - | - | 44659257 | - | 161002653 | 493772495 | 20594092 |
| Total | 447918816 | 2471639 | - | 44659257 | - | 123714693 | 574105148 |  |

---

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 | 829609874 | 598963981 | 230645893 | - |
| Consumer Discretionary | 751107517 | 276016213 | 475091304 | - |
| Consumer Staples | 307770480 | - | 307770480 | - |
| Energy | 189180461 | 189180461 | - | - |
| Financials | 2936483158 | 1382928776 | 1497104392 | 56449990 |
| Health Care | 740427563 | 479001082 | 261426481 | - |
| Industrials | 3228698319 | 853822154 | 2374876165 | - |
| Information Technology | 2453877426 | 311768914 | 2130821794 | 11286718 |
| Materials | 366781312 | 54141624 | 312639688 | - |
| Utilities | 136861152 | - | 136861152 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 39567353 | - | - | 39567353 |
| Consumer Discretionary | 14290369 | - | - | 14290369 |
| Health Care | 4378741 | - | - | 4378741 |
| Information Technology | 36023124 | - | - | 36023124 |
|  **Money Market Funds** | 485763706 | 485763706 | - | - |
| **Total Investments in Securities:** | 12520820555 | 4631586911 | 7727237349 | 161996295 |

---

The following is a reconciliation of consolidated Investments in Securities for which Level 3 inputs were used in determining value. Beginning balances have been updated to conform to current period presentation, as applicable.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning Balance ($)** | **Net Realized Gain (Loss) on Investment Securities ($)** | **Net Unrealized Gain (Loss) on Investment Securities ($)** | **Cost of Purchases ($)** | **Proceeds of Sales ($)** | **Amortization/**<br> **Accretion ($)** | **Transfers into Level 3 ($)** | **Transfers out of Level 3 ($)** | **Ending Balance ($)** | **The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2026 ($)** |
| **Common Stocks** | 68654360 | - | (2399178) | 14345221 | (12863695) | - | - | - | 67736708 | (11177576) |
| **Convertible Preferred Stocks** | 80852953 | (65) | (1566196) | 14972895 | - | - | - | - | 94259587 | (1566196) |
| <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's consolidated Statement of Operations. |  |  |  |

---

**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 $115,766,195) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $7,812,283,674) | $11460951701 |  |
| Fidelity Central Funds (cost $485,763,706) | 485763706 |  |
| Other affiliated issuers (cost $75,649,371) | 574105148 |  |
| Total Investment in Securities (cost $8,373,696,751) |  | $12520820555 |
| Cash |  | 15220 |
| Foreign currency held at value (cost $2,301,706) |  | 2295195 |
| Receivable for investments sold |  | 77631727 |
| Receivable for fund shares sold |  | 2981204 |
| Dividends receivable |  | 47303256 |
| Reclaims receivable |  | 32624012 |
| Distributions receivable from Fidelity Central Funds |  | 1213921 |
| Prepaid expenses |  | 3038 |
| Other receivables |  | 2293659 |
| **Total assets** |  | 12687181787 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $632319 |  |
| Payable for fund shares redeemed | 18039091 |  |
| Accrued management fee | 7842147 |  |
| Distribution and service plan fees payable | 48680 |  |
| Other payables and accrued expenses | 98072 |  |
| Collateral on securities loaned | 119239201 |  |
| **Total liabilities** |  | 145899510 |
| **Net Assets**  |  | $12541282277 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $7824274062 |
| Total accumulated earnings (loss) |  | 4717008215 |
| **Net Assets** |  | $12541282277 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($175,816,517 ÷ 2,889,664 shares)(a) |  | $60.84 |
| Maximum offering price per share (100/94.25 of $60.84) |  | $64.55 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($21,141,678 ÷ 351,118 shares)(a) |  | $60.21 |
| Maximum offering price per share (100/96.50 of $60.21) |  | $62.39 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($5,100,389 ÷ 85,945 shares)(a) |  | $59.34 |
| **International Discovery :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($4,722,602,202 ÷ 76,900,506 shares) |  | $61.41 |
| **Class K :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($601,669,877 ÷ 9,835,843 shares) |  | $61.17 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,036,863,794 ÷ 16,992,764 shares) |  | $61.02 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($5,978,087,820 ÷ 97,992,986 shares) |  | $61.01 |
| *(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.* |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $112787470 |
| Special dividends |  | 44659257 |
| Interest  |  | 32715 |
| Income from Fidelity Central Funds (including $757,937 from security lending)  |  | 7140378 |
| Security lending |  | 5105 |
| Income before foreign taxes withheld |  | $164624925 |
| Less foreign taxes withheld |  | (10067659) |
| **Total income** |  | 154557266 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $42418108 |  |
| Performance adjustment | 114993 |  |
| Distribution and service plan fees | 288653 |  |
| Custodian fees and expenses | 343316 |  |
| Independent trustees' fees and expenses | 18751 |  |
| Registration fees | 163262 |  |
| Audit fees | 64483 |  |
| Legal | 7190 |  |
| Interest | 8882 |  |
| Miscellaneous | 16729 |  |
| Total expenses before reductions | 43444367 |  |
| Expense reductions | (5303) |  |
| Total expenses after reductions |  | 43439064 |
| **Net Investment income (loss)** |  | 111118202 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $3,616,953)  | 864225137 |  |
| Fidelity Central Funds | 23808 |  |
| Foreign currency transactions | (536357) |  |
| Total net realized gain (loss) |  | 863712588 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $8,552,133)  | (197793710) |  |
| Affiliated issuers  | 123714693 |  |
| Assets and liabilities in foreign currencies | 1392662 |  |
| Total change in net unrealized appreciation (depreciation) |  | (72686355) |
| **Net gain (loss)** |  | 791026233 |
| **Net increase (decrease) in net assets resulting from operations** |  | $902144435 |

---

---

| | | |
|:---|:---|:---|
| **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) | $111118202 | $144190521 |
| &nbsp;&nbsp;Net realized gain (loss) | 863712588<br>| 780622168<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (72686355) | 1501919757<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 902144435<br>| 2426732446<br>|
| Distributions to shareholders | (794375016)<br>| (278640123)<br>|
| Share transactions - net increase (decrease) | 382491420<br>| 61895340<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 490260839<br>| 2209987663<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 12051021438 | 9841033775<br>|
| &nbsp;&nbsp;End of period | $12541282277 | $12051021438 |

---

**Consolidated Financial Highlights** 

**Fidelity Advisor® International Discovery 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  | $60.44 | $49.70 | $39.12 | $36.68 | $58.79 | $45.84 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .45 C | .55  | .50  | .49  | .56 D | .18  |
| Net realized and unrealized gain (loss)  | 3.77  | 11.43  | 10.78  | 1.95  | (16.91)  | 14.60  |
| Total from investment operations  | 4.22  | 11.98  | 11.28  | 2.44  | (16.35)  | 14.78  |
| Distributions from net investment income  | (1.62)  | (1.24)  | (.70)  | -  | (1.38)  | (.12)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (3.82) E | (1.24)  | (.70)  | -  | (5.76)  | (1.83)  |
| Net asset value, end of period  | $60.84 | $60.44 | $49.70 | $39.12 | $36.68 | $58.79 |
| **Total Return** F,G,H | 7.55% <br>| 24.70%  | 29.14%  | 6.65%  | (30.57)%  | 32.86%  |
| **Ratios to Average Net Assets** B,I,J |  |  |  |  |  |  |
| Expenses before reductions  | 1.04% K | .95%  | .88%  | 1.00%  | 1.31%  | 1.32%  |
| Expenses net of fee waivers, if any  | 1.04% K<br>| .95%  | .87%  | .99%  | 1.30%  | 1.32%  |
| Expenses net of all reductions, if any  | 1.04% K | .95%  | .87%  | .99%  | 1.30%  | 1.32%  |
| Net investment income (loss)  | 1.13% C,K | 1.03%  | 1.05%  | 1.17%  | 1.27% D | .32%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $175817 | $163858 | $143018 | $122305 | $130702 | $206114 |
| Portfolio turnover rate L | 77% K<br>| 54%  | 44% M | 49% M | 43% M | 41% M |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been .78%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .92%.*

E*Total distributions per share do not sum due to rounding.*

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

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

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

I*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.*

J*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.*

K*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.*

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

**Fidelity Advisor® International Discovery 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  | $59.78 | $49.16 | $38.71 | $36.38 | $58.35 | $45.53 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .37 C | .41  | .38  | .38  | .45 D | .04  |
| Net realized and unrealized gain (loss)  | 3.73  | 11.32  | 10.67  | 1.95  | (16.81)  | 14.51  |
| Total from investment operations  | 4.10  | 11.73  | 11.05  | 2.33  | (16.36)  | 14.55  |
| Distributions from net investment income  | (1.48)  | (1.11)  | (.60)  | -  | (1.23)  | (.02)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (3.67)  | (1.11)  | (.60)  | -  | (5.61)  | (1.73)  |
| Net asset value, end of period  | $60.21 | $59.78 | $49.16 | $38.71 | $36.38 | $58.35 |
| **Total Return** E,F,G | 7.42% <br>| 24.39%  | 28.81%  | 6.40%  | (30.76)%  | 32.53%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.29% J | 1.20%  | 1.13%  | 1.24%  | 1.55%  | 1.57%  |
| Expenses net of fee waivers, if any  | 1.29% J<br>| 1.20%  | 1.12%  | 1.24%  | 1.55%  | 1.57%  |
| Expenses net of all reductions, if any  | 1.29% J | 1.20%  | 1.12%  | 1.23%  | 1.55%  | 1.57%  |
| Net investment income (loss)  | .88% C,J | .78%  | .80%  | .93%  | 1.02% D | .07%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $21142 | $20509 | $17503 | $15275 | $16100 | $25178 |
| Portfolio turnover rate K | 77% J<br>| 54%  | 44% L | 49% L | 43% L | 41% L |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been .53%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .67%.*

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 sales charges.*

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 Consolidated 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*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.*

**Fidelity Advisor® International Discovery 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  | $58.86 | $48.41 | $38.06 | $35.96 | $57.59 | $45.18 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .22 C | .15  | .14  | .16  | .21 D | (.27)  |
| Net realized and unrealized gain (loss)  | 3.68  | 11.16  | 10.54  | 1.94  | (16.66)  | 14.38  |
| Total from investment operations  | 3.90  | 11.31  | 10.68  | 2.10  | (16.45)  | 14.11  |
| Distributions from net investment income  | (1.23)  | (.86)  | (.33)  | -  | (.80)  | -  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.70)  |
| Total distributions  | (3.42)  | (.86)  | (.33)  | -  | (5.18)  | (1.70)  |
| Net asset value, end of period  | $59.34 | $58.86 | $48.41 | $38.06 | $35.96 | $57.59 |
| **Total Return** E,F,G | 7.14% <br>| 23.77%  | 28.20%  | 5.84%  | (31.14)%  | 31.79%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.79% J | 1.70%  | 1.62%  | 1.77%  | 2.10%  | 2.14%  |
| Expenses net of fee waivers, if any  | 1.79% J<br>| 1.70%  | 1.62%  | 1.76%  | 2.10%  | 2.13%  |
| Expenses net of all reductions, if any  | 1.79% J | 1.70%  | 1.62%  | 1.76%  | 2.10%  | 2.13%  |
| Net investment income (loss)  | .38% C,J | .28%  | .31%  | .40%  | .48% D | (.50)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $5100 | $5055 | $4485 | $4391 | $5429 | $10230 |
| Portfolio turnover rate K | 77% J<br>| 54%  | 44% L | 49% L | 43% L | 41% L |

---

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 $.21 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been .03%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been .12%.*

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

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

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 Consolidated 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*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.*

**Fidelity® International Discovery 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  | $61.04 | $50.17 | $39.51 | $37.04 | $59.31 | $46.20 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .54 C | .71  | .65  | .63  | .72 D | .36  |
| Net realized and unrealized gain (loss)  | 3.80  | 11.54  | 10.86  | 1.98  | (17.07)  | 14.71  |
| Total from investment operations  | 4.34  | 12.25  | 11.51  | 2.61  | (16.35)  | 15.07  |
| Distributions from net investment income  | (1.78)  | (1.38)  | (.85)  | (.14)  | (1.54)  | (.25)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (3.97)  | (1.38)  | (.85)  | (.14)  | (5.92)  | (1.96)  |
| Net asset value, end of period  | $61.41 | $61.04 | $50.17 | $39.51 | $37.04 | $59.31 |
| **Total Return** E,F | 7.71% <br>| 25.07%  | 29.52%  | 7.04%  | (30.36)%  | 33.29%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .75% I | .66%  | .58%  | .66%  | .98%  | .99%  |
| Expenses net of fee waivers, if any  | .75% I<br>| .66%  | .58%  | .65%  | .97%  | .99%  |
| Expenses net of all reductions, if any  | .75% I | .66%  | .58%  | .65%  | .97%  | .99%  |
| Net investment income (loss)  | 1.43% C,I | 1.32%  | 1.35%  | 1.51%  | 1.60% D | .65%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $4722602 | $4408318 | $3704910 | $3352940 | $3385800 | $5117474 |
| Portfolio turnover rate J | 77% I<br>| 54%  | 44% K | 49% K | 43% K | 41% K |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been 1.07%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.25%.*

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

**Fidelity® International Discovery Fund Class K**<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  | $60.81 | $50.01 | $39.39 | $36.93 | $59.18 | $46.10 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .56 C | .74  | .68  | .68  | .78 D | .41  |
| Net realized and unrealized gain (loss)  | 3.78  | 11.50  | 10.83  | 1.96  | (17.02)  | 14.67  |
| Total from investment operations  | 4.34  | 12.24  | 11.51  | 2.64  | (16.24)  | 15.08  |
| Distributions from net investment income  | (1.79)  | (1.44)  | (.89)  | (.18)  | (1.62)  | (.29)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (3.98)  | (1.44)  | (.89)  | (.18)  | (6.01) E | (2.00)  |
| Net asset value, end of period  | $61.17 | $60.81 | $50.01 | $39.39 | $36.93 | $59.18 |
| **Total Return** F,G | 7.75% <br>| 25.15%  | 29.64%  | 7.15%  | (30.28)%  | 33.40%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | .68% J | .59%  | .51%  | .55%  | .87%  | .90%  |
| Expenses net of fee waivers, if any  | .68% J<br>| .59%  | .51%  | .54%  | .87%  | .90%  |
| Expenses net of all reductions, if any  | .68% J | .59%  | .51%  | .54%  | .87%  | .90%  |
| Net investment income (loss)  | 1.50% C,J | 1.40%  | 1.41%  | 1.62%  | 1.71% D | .74%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $601670 | $611520 | $645612 | $476117 | $602552 | $1371352 |
| Portfolio turnover rate K | 77% J<br>| 54%  | 44% L | 49% L | 43% L | 41% L |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been 1.14%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.35%.*

E*Total distributions per share do not sum due to rounding.*

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

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

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 Consolidated 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*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.*

**Fidelity Advisor® International Discovery 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  | $60.69 | $49.96 | $39.35 | $36.90 | $59.15 | $46.08 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .52 C | .69  | .62  | .63  | .69 D | .35  |
| Net realized and unrealized gain (loss)  | 3.79  | 11.47  | 10.83  | 1.96  | (16.99)  | 14.67  |
| Total from investment operations  | 4.31  | 12.16  | 11.45  | 2.59  | (16.30)  | 15.02  |
| Distributions from net investment income  | (1.79)  | (1.43)  | (.84)  | (.14)  | (1.57)  | (.24)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (3.98)  | (1.43)  | (.84)  | (.14)  | (5.95)  | (1.95)  |
| Net asset value, end of period  | $61.02 | $60.69 | $49.96 | $39.35 | $36.90 | $59.15 |
| **Total Return** E,F | 7.70% <br>| 25.01%  | 29.49%  | 7.01%  | (30.37)%  | 33.26%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .79% I | .70%  | .62%  | .67%  | .99%  | 1.02%  |
| Expenses net of fee waivers, if any  | .79% I<br>| .70%  | .62%  | .66%  | .99%  | 1.02%  |
| Expenses net of all reductions, if any  | .79% I | .70%  | .62%  | .66%  | .99%  | 1.02%  |
| Net investment income (loss)  | 1.38% C,I | 1.28%  | 1.30%  | 1.50%  | 1.59% D | .62%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1036864 | $1024382 | $776727 | $496845 | $509367 | $565667 |
| Portfolio turnover rate J | 77% I<br>| 54%  | 44% K | 49% K | 43% K | 41% K |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been 1.03%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.23%.*

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

**Fidelity Advisor® International Discovery 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  | $60.69 | $49.93 | $39.33 | $36.88 | $59.14 | $46.07 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .55 C | .75  | .68  | .67  | .76 D | .43  |
| Net realized and unrealized gain (loss)  | 3.79  | 11.47  | 10.82  | 1.97  | (16.99)  | 14.64  |
| Total from investment operations  | 4.34  | 12.22  | 11.50  | 2.64  | (16.23)  | 15.07  |
| Distributions from net investment income  | (1.83)  | (1.46)  | (.90)  | (.19)  | (1.65)  | (.29)  |
| Distributions from net realized gain  | (2.19)  | -  | -  | -  | (4.38)  | (1.71)  |
| Total distributions  | (4.02)  | (1.46)  | (.90)  | (.19)  | (6.03)  | (2.00)  |
| Net asset value, end of period  | $61.01 | $60.69 | $49.93 | $39.33 | $36.88 | $59.14 |
| **Total Return** E,F | 7.76% <br>| 25.17%  | 29.65%  | 7.14%  | (30.29)%  | 33.40%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .68% I | .59%  | .52%  | .55%  | .87%  | .90%  |
| Expenses net of fee waivers, if any  | .68% I<br>| .59%  | .51%  | .54%  | .87%  | .90%  |
| Expenses net of all reductions, if any  | .68% I | .59%  | .51%  | .54%  | .87%  | .90%  |
| Net investment income (loss)  | 1.50% C,I | 1.40%  | 1.41%  | 1.62%  | 1.71% D | .74%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $5978088 | $5817380 | $4548779 | $2667797 | $2720340 | $3972323 |
| Portfolio turnover rate J | 77% I<br>| 54%  | 44% K | 49% K | 43% K | 41% K |

---

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 $.22 per share. Such dividends are not annualized in the ratio of net investment income (loss) to average net assets. Excluding such non-recurring dividend(s) the ratio of net investment income (loss) to average net assets would have been 1.14%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.16 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.35%.*

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

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity International Discovery 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, International Discovery, Class K, 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 Consolidated 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 consolidated 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 consolidated 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 consolidated financial statements and consolidated financial highlights. Subsequent events, if any, through the date that the consolidated financial statements were issued have been evaluated in the preparation of the consolidated financial statements. The Fund's Consolidated 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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Fair Value** | **Valuation Technique(s)** | **Unobservable Input** | **Amount or Range/Weighted Average** | **Impact to Valuation from an Increase in InputA** |
| Convertible Preferred Stocks | $94259587 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA)  | 8.5 | Increase |
|  |  |  | Enterprise value/Revenue multiple (EV/R)  | 2.0 - 7.8 / 2.2 | Increase |
|  |  |  | Enterprise value/Gross profit multiple (EV/GP) | 7.3 | Increase |
|  |  | Market approach | Transaction price  | $15.40  | Increase |
|  |  |  | Discount rate  | 25.0% | Decrease |
|  |  | Black scholes | Discount rate  | 3.8% | Increase |
|  |  |  | Term  | 3.0 | Increase |
|  |  |  | Volatility  | 60.0% | Increase |
| Common Stocks | $67736708 | Market comparable | Enterprise value/Revenue multiple (EV/R)  | 1.3 - 7.8 / 6.9 | Increase |
|  |  |  | Enterprise value/Net income (EV/NI)  | 14.0 - 30.0 / 24.7 | Increase |
|  |  | Recovery value | Recovery value | $0.00  | Increase |
|  |  | Black scholes | Discount rate | 2.4% | Increase |
|  |  |  | Term | 2.0 | Increase |
|  |  |  | Volatility | 75.0% | Increase |

---

*A Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end.* 

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, as well as a roll forward of Level 3 investments, is included at the end of the Fund's Consolidated 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 Consolidated 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. Large, non-recurring dividends recognized by the Fund are presented separately on the Consolidated Statement of Operations as "Special Dividends" and the impact of these dividends is presented in the Financial Highlights. 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 Consolidated Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Consolidated 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 Consolidated Statement of Operations in foreign taxes withheld. 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 consolidated 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 consolidated 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), deferred Trustee compensation, 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** | $4192201216 |
| **Gross unrealized depreciation** | <u>(243972803)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$3948228413</u> |
| **Tax cost** | <u>$8572592142</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 Consolidated Schedule of Investments, if applicable.

**Consolidated Special Purpose Vehicle.** The Funds included in the table below hold 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 International Discovery Fund** | FID FDO 305, LLC | 47456279 | .37 |

---

The financial statements have been consolidated to include the SPV accounts where applicable. Accordingly, all inter-company transactions and balances have been eliminated.

**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 International Discovery Fund** | 4500146148 | 4772150906 |

---

**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** | .84 |
| **Class M** | .84 |
| **Class C** | .84 |
| **International Discovery** | .78 |
| **Class K** | .68 |
| **Class I** | .80 |
| **Class Z** | .68 |

---

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** | .78 |
| **Class M** | .78 |
| **Class C** | .78 |
| **International Discovery** | .74 |
| **Class K** | .67 |
| **Class I** | .78 |
| **Class Z** | .67 |

---

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 International Discovery 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 International Discovery. 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 ±.20% 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 less than .005%.

**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% | 211876 | 4513 |
| **Class M** | .25% | .25% | 51668 | 828 |
| **Class C** | .75% | .25% | <u>25109</u> | <u>4166</u> |
|  |  |  | <u>288653</u> | <u>9507</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** | 13130 |
| **Class M** | 1783 |
| **Class C**A | <u>43</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>14956</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 Consolidated Statement of Operations. The commissions paid to these affiliated firms were as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Discovery Fund** | 6593 |

---

**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 International Discovery Fund**  | Borrower | 16453240 | 3.89% | 8882 |

---

**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 International Discovery Fund** | 209785311 | 154343777 | 34168517 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Discovery Fund** | 166578 |

---

**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 Consolidated 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 International Discovery Fund** | 7593 |

---

**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 Consolidated Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Consolidated 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 ConsolidatedStatement 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 Consolidated 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 International Discovery Fund** | 82544 | - | - |

---

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 Consolidated Schedule of Investments or Consolidated Statement of Assets and Liabilities.

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity International Discovery Fund** | 2351642 |

---

**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 $5,303.

**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 International Discovery Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $10622071 | $3553974 |
| Class M | 1263585 | 392108 |
| Class C | 294107 | 79580 |
| International Discovery | 287700601 | 101373792 |
| Class K | 38774762 | 17514884 |
| Class I | 68831123 | 22644236 |
| Class Z | <u>386888767</u> | <u>133081549</u> |
| Total  | <u>$794375016</u> | <u>$278640123</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 International Discovery Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 189403 | 169906 | $11101959 | $9072981 |
| Reinvestment of distributions  | 187608 | 71602 | 10495934 | 3507794 |
| Shares redeemed | <u>(198479)</u> | <u>(408117)</u> | <u>(11576646)</u> | <u>(21413069)</u> |
| Net increase (decrease) | <u>178532</u> | <u>(166609)</u> | <u>$10021247</u> | <u>$(8832294)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 17685 | 20223 | $1044994 | $1053406 |
| Reinvestment of distributions  | 22596 | 8014 | 1252190 | 389159 |
| Shares redeemed | <u>(32241)</u> | <u>(41171)</u> | <u>(1890888)</u> | <u>(2155619)</u> |
| Net increase (decrease) | <u>8040</u> | <u>(12934)</u> | <u>$406296</u> | <u>$(713054)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 11410 | 15751 | $659299 | $828716 |
| Reinvestment of distributions  | 5343 | 1646 | 292387 | 78954 |
| Shares redeemed | <u>(16687)</u> | <u>(24156)</u> | <u>(956230)</u> | <u>(1233216)</u> |
| Net increase (decrease) | <u>66</u> | <u>(6759)</u> | <u>$(4544)</u> | <u>$(325546)</u> |
| **International Discovery** |  |  |  |  |
| Shares sold | 5337187 | 6222698 | $316508470 | $334368072 |
| Reinvestment of distributions  | 4656573 | 1875836 | 262610116 | 92572519 |
| Shares redeemed | <u>(5316706)</u> | <u>(9722586)</u> | <u>(314678372)</u> | <u>(517362444)</u> |
| Net increase (decrease) | <u>4677054</u> | <u>(1624052)</u> | <u>$264440214</u> | <u>$(90421853)</u> |
| **Class K** |  |  |  |  |
| Shares sold | 1151609 | 1876128 | $68758929 | $99335574 |
| Reinvestment of distributions  | 690377 | 356501 | 38774762 | 17514884 |
| Shares redeemed | <u>(2062425)</u> | <u>(5086382)</u> | <u>(121193287)</u> | <u>(264162493)</u> |
| Net increase (decrease) | <u>(220439)</u> | <u>(2853753)</u> | <u>$(13659596)</u> | <u>$(147312035)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 3222060 | 7557597 | $186549648 | $389724198 |
| Reinvestment of distributions  | 422284 | 103131 | 23666951 | 5062699 |
| Shares redeemed | <u>(3529315)</u> | <u>(6328809)</u> | <u>(203473695)</u> | <u>(319443891)</u> |
| Net increase (decrease) | <u>115029</u> | <u>1331919</u> | <u>$6742904</u> | <u>$75343006</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 761960 | 5980670 | $44547881 | $306303735 |
| Reinvestment of distributions  | 5521908 | 2691652 | 309306966 | 131971709 |
| Shares redeemed | <u>(4146029)</u> | <u>(3912968)</u> | <u>(239309948)</u> | <u>(204118328)</u> |
| Net increase (decrease) | <u>2137839</u> | <u>4759354</u> | <u>$114544899</u> | <u>$234157116</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.

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.

---

| | |
|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** |
| Fidelity International Discovery Fund | 38% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| Fidelity International Discovery Fund | 49 |

---

**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 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.

![](img131281_4.jpg)<br>

1.807261.121 IGI-SANN-0626

**Fidelity® International Capital Appreciation K6 Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131282_1.jpg)

![](img131282_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_IVFK6-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® International Capital Appreciation K6 Fund](#Sub_Sec_Fund_2953_IVFK6-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements2953_IVFK6-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IVFK6-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IVFK6-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IVFK6-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IVFK6-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 1-800-835-5092 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® International Capital Appreciation K6 Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 100.1%** | &nbsp;&nbsp;**Common Stocks - 100.1%** | &nbsp;&nbsp;**Common Stocks - 100.1%** |
|  | Shares | Value ($)<br>|
| AUSTRIA - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| Erste Group Bank AG  | 267631 | 29572183 |
| BRAZIL - 1.5%  |  |  |
| Materials - 1.5% |  |  |
| Metals & Mining - 1.5% |  |  |
| Wheaton Precious Metals Corp  | 275804 | 34838186 |
| CANADA - 3.4%  |  |  |
| Information Technology - 2.0% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Celestica Inc (United States) (a) | 110349 | 45197847 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Franco-Nevada Corp  | 138848 | 32033118 |
| TOTAL CANADA |  | 77230965 |
| CHINA - 1.4%  |  |  |
| Industrials - 1.4% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 490600 | 31517621 |
| DENMARK - 1.5%  |  |  |
| Industrials - 1.5% |  |  |
| Air Freight & Logistics - 1.5% |  |  |
| DSV A/S  | 138915 | 34002502 |
| FINLAND - 1.2%  |  |  |
| Information Technology - 1.2% |  |  |
| Communications Equipment - 1.2% |  |  |
| Nokia Oyj ADR  | 2102953 | 27149123 |
| FRANCE - 3.2%  |  |  |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 1.7% |  |  |
| Safran SA  | 117616 | 37768006 |
| Electrical Equipment - 1.5% |  |  |
| Legrand SA  | 189921 | 34026935 |
| TOTAL FRANCE |  | 71794941 |
| GERMANY - 5.2%  |  |  |
| Industrials - 3.9% |  |  |
| Aerospace & Defense - 1.8% |  |  |
| Rheinmetall AG  | 25380 | 40385536 |
| Electrical Equipment - 2.1% |  |  |
| Siemens Energy AG  | 223257 | 47316579 |
| TOTAL INDUSTRIALS |  | 87702115 |
| Materials - 1.3% |  |  |
| Construction Materials - 1.3% |  |  |
| Heidelberg Materials AG  | 137232 | 30279317 |
| TOTAL GERMANY |  | 117981432 |
| INDIA - 3.8%  |  |  |
| Communication Services - 1.3% |  |  |
| Wireless Telecommunication Services - 1.3% |  |  |
| Bharti Airtel Ltd  | 1494921 | 29884542 |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| ICICI Bank Ltd  | 2061143 | 27658211 |
| Industrials - 1.3% |  |  |
| Transportation Infrastructure - 1.3% |  |  |
| Adani Ports & Special Economic Zone Ltd  | 1671195 | 29365507 |
| TOTAL INDIA |  | 86908260 |
| ISRAEL - 6.5%  |  |  |
| Financials - 4.5% |  |  |
| Banks - 3.2% |  |  |
| Bank Hapoalim BM  | 1372683 | 36792701 |
| Bank Leumi Le-Israel BM  | 1405567 | 35561763 |
|  |  | 72354464 |
| Insurance - 1.3% |  |  |
| Harel Insurance Investments & Financial Services Ltd  | 392081 | 24340878 |
| Phoenix Financial Ltd  | 74119 | 4458078 |
|  |  | 28798956 |
| TOTAL FINANCIALS |  | 101153420 |
| Information Technology - 2.0% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Next Vision Stabilized Systems Ltd  | 395625 | 45350415 |
| TOTAL ISRAEL |  | 146503835 |
| ITALY - 3.4%  |  |  |
| Financials - 3.4% |  |  |
| Banks - 3.4% |  |  |
| Intesa Sanpaolo SpA  | 5866429 | 39857883 |
| UniCredit SpA  | 485021 | 37483580 |
| TOTAL ITALY |  | 77341463 |
| JAPAN - 15.9%  |  |  |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| Japan Tobacco Inc  | 827120 | 30814137 |
| Financials - 3.5% |  |  |
| Banks - 3.5% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 2208665 | 39673897 |
| Sumitomo Mitsui Financial Group Inc  | 1120964 | 39580179 |
| TOTAL FINANCIALS |  | 79254076 |
| Industrials - 6.4% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Fujikura Ltd  | 817745 | 31551055 |
| Industrial Conglomerates - 2.1% |  |  |
| Hitachi Ltd  | 1498730 | 47657140 |
| Machinery - 2.9% |  |  |
| Kawasaki Heavy Industries Ltd  | 1368297 | 28130014 |
| Mitsubishi Heavy Industries Ltd  | 1199202 | 35791261 |
|  |  | 63921275 |
| TOTAL INDUSTRIALS |  | 143129470 |
| Information Technology - 4.6% |  |  |
| Semiconductors & Semiconductor Equipment - 4.6% |  |  |
| Advantest Corp  | 203303 | 37960445 |
| Disco Corp  | 73884 | 35152714 |
| Tokyo Electron Ltd  | 105104 | 30972344 |
| TOTAL INFORMATION TECHNOLOGY |  | 104085503 |
| TOTAL JAPAN |  | 357283186 |
| KOREA (SOUTH) - 2.5%  |  |  |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| SK Hynix Inc  | 62070 | 55707390 |
| MEXICO - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Transportation Infrastructure - 1.1% |  |  |
| Grupo Aeroportuario del Pacifico SAB de CV Series B  | 952736 | 23900074 |
| NETHERLANDS - 5.2%  |  |  |
| Information Technology - 5.2% |  |  |
| Semiconductors & Semiconductor Equipment - 5.2% |  |  |
| ASM International NV  | 50372 | 49104323 |
| ASML Holding NV  | 47878 | 69209865 |
| TOTAL NETHERLANDS |  | 118314188 |
| SPAIN - 3.8%  |  |  |
| Financials - 2.0% |  |  |
| Banks - 2.0% |  |  |
| Banco Santander SA  | 3651042 | 44478772 |
| Utilities - 1.8% |  |  |
| Electric Utilities - 1.8% |  |  |
| Iberdrola SA  | 1789892 | 41962638 |
| TOTAL SPAIN |  | 86441410 |
| SWEDEN - 1.2%  |  |  |
| Industrials - 1.2% |  |  |
| Building Products - 1.2% |  |  |
| Assa Abloy AB B Shares  | 707211 | 26916568 |
| SWITZERLAND - 3.4%  |  |  |
| Financials - 3.4% |  |  |
| Capital Markets - 1.8% |  |  |
| UBS Group AG  | 939526 | 41484158 |
| Insurance - 1.6% |  |  |
| Zurich Insurance Group AG  | 51051 | 35593793 |
| TOTAL SWITZERLAND |  | 77077951 |
| TAIWAN - 6.9%  |  |  |
| Information Technology - 6.9% |  |  |
| Semiconductors & Semiconductor Equipment - 6.9% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 2228708 | 155213395 |
| UNITED ARAB EMIRATES - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Transportation Infrastructure - 1.0% |  |  |
| Salik Co PJSC  | 15183176 | 23148236 |
| UNITED KINGDOM - 6.8%  |  |  |
| Consumer Staples - 1.9% |  |  |
| Tobacco - 1.9% |  |  |
| British American Tobacco PLC  | 709753 | 41800782 |
| Financials - 1.1% |  |  |
| Insurance - 1.1% |  |  |
| Aviva PLC  | 3276335 | 27801789 |
| Industrials - 3.8% |  |  |
| Aerospace & Defense - 3.8% |  |  |
| BAE Systems PLC  | 1364814 | 37960337 |
| Rolls-Royce Holdings PLC  | 2926456 | 47091243 |
| TOTAL INDUSTRIALS |  | 85051580 |
| TOTAL UNITED KINGDOM |  | 154654151 |
| UNITED STATES - 19.9%  |  |  |
| Consumer Discretionary - 2.7% |  |  |
| Hotels, Restaurants & Leisure - 2.7% |  |  |
| Hilton Worldwide Holdings Inc  | 84297 | 27318129 |
| InterContinental Hotels Group PLC  | 232316 | 33244420 |
| TOTAL CONSUMER DISCRETIONARY |  | 60562549 |
| Financials - 3.7% |  |  |
| Capital Markets - 1.3% |  |  |
| Moody's Corp  | 62380 | 28810203 |
| Financial Services - 2.4% |  |  |
| Mastercard Inc Class A  | 52218 | 26261477 |
| Visa Inc Class A  | 85496 | 28200001 |
|  |  | 54461478 |
| TOTAL FINANCIALS |  | 83271681 |
| Industrials - 8.4% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| HEICO Corp  | 100339 | 27083503 |
| Building Products - 1.3% |  |  |
| Trane Technologies PLC  | 57627 | 28383603 |
| Commercial Services & Supplies - 1.2% |  |  |
| Waste Connections Inc  | 171379 | 28231137 |
| Construction & Engineering - 1.3% |  |  |
| Ferrovial SE  | 422287 | 28963866 |
| Electrical Equipment - 3.4% |  |  |
| Eaton Corp PLC (b) | 66693 | 28878736 |
| Schneider Electric SE  | 150508 | 47892973 |
|  |  | 76771709 |
| TOTAL INDUSTRIALS |  | 189433818 |
| Information Technology - 2.6% |  |  |
| Software - 2.6% |  |  |
| Cadence Design Systems Inc (a) | 108413 | 35731841 |
| Synopsys Inc (a) | 46906 | 22636835 |
| TOTAL INFORMATION TECHNOLOGY |  | 58368676 |
| Materials - 2.5% |  |  |
| Construction Materials - 2.5% |  |  |
| CRH PLC  | 210745 | 24956423 |
| Holcim AG  | 331645 | 30818585 |
| TOTAL MATERIALS |  | 55775008 |
| TOTAL UNITED STATES |  | 447411732 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,709,835,344) |  | <br> **2260908792** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 (c) | 3.69 | 394 | 394 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 28237776 | 28240600 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $28,240,994) |  |  | **28240994** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.3%**<br> (Cost $1,738,076,338)<br>| <br>**2289149786** |
| **NET OTHER ASSETS (LIABILITIES) - (1.3)%**  | **(30332984)** |
| **NET ASSETS - 100.0%** | **2258816802** |

---

**Legend**

(a) Non-income producing.

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

(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 | 21518970 | 420444421 | 441962137 | 328657 | (860) | - | 394 | 394 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 7763550 | 108988387 | 88511478 | 66523 | 141 | - | 28240600 | 28237776 | 0.1% |
| Total | 29282520 | 529432808 | 530473615 | 395180 | (719) | - | 28240994 |  |  |

---

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 | 29884542 | - | 29884542 | - |
| Consumer Discretionary | 60562549 | 60562549 | - | - |
| Consumer Staples | 72614919 | - | 72614919 | - |
| Financials | 547609546 | 298189820 | 249419726 | - |
| Industrials | 745962432 | 337210340 | 408752092 | - |
| Information Technology | 609386537 | 225170384 | 384216153 | - |
| Materials | 152925629 | 91827727 | 61097902 | - |
| Utilities | 41962638 | - | 41962638 | - |
|  **Money Market Funds** | 28240994 | 28240994 | - | - |
| **Total Investments in Securities:** | 2289149786 | 1041201814 | 1247947972 | - |

---

**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 $29,184,874) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,709,835,344) | $2260908792 |  |
| Fidelity Central Funds (cost $28,240,994) | 28240994 |  |
| Total Investment in Securities (cost $1,738,076,338) |  | $2289149786 |
| Foreign currency held at value (cost $183,500) |  | 182193 |
| Receivable for investments sold |  | 60932330 |
| Receivable for fund shares sold |  | 1241772 |
| Dividends receivable |  | 5605459 |
| Reclaims receivable |  | 3782505 |
| Distributions receivable from Fidelity Central Funds |  | 99817 |
| Other receivables |  | 396399 |
| **Total assets** |  | 2361390261 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $58026863 |  |
| Payable for fund shares redeemed | 2452727 |  |
| Accrued management fee | 1182496 |  |
| Notes payable to affiliates | 10584000 |  |
| Other payables and accrued expenses | 2086773 |  |
| Collateral on securities loaned | 28240600 |  |
| **Total liabilities** |  | 102573459 |
| **Net Assets**  |  | $2258816802 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1668113611 |
| Total accumulated earnings (loss) |  | 590703191 |
| **Net Assets** |  | $2258816802 |
| **Net Asset Value**, offering price and redemption price per share ($2,258,816,802 ÷ 123,235,403 shares) |  | $18.33 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $17101024 |
| Interest  |  | 1781 |
| Income from Fidelity Central Funds (including $66,523 from security lending)  |  | 395180 |
| Income before foreign taxes withheld |  | $17497985 |
| Less foreign taxes withheld |  | (1796930) |
| **Total income** |  | 15701055 |
| **Expenses** |  |  |
| Management fee | $6893678 |  |
| Independent trustees' fees and expenses | 3378 |  |
| Interest | 101150 |  |
| Total expenses before reductions | 6998206 |  |
| Expense reductions | (147) |  |
| Total expenses after reductions |  | 6998059 |
| **Net Investment income (loss)** |  | 8702996 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $1,102,548)  | 53407978 |  |
| Fidelity Central Funds | (719) |  |
| Foreign currency transactions | (86693) |  |
| Total net realized gain (loss) |  | 53320566 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $4,142,542)  | 34649734 |  |
| Assets and liabilities in foreign currencies | 69344 |  |
| Total change in net unrealized appreciation (depreciation) |  | 34719078 |
| **Net gain (loss)** |  | 88039644 |
| **Net increase (decrease) in net assets resulting from operations** |  | $96742640 |

---

---

| | | |
|:---|:---|:---|
| **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) | $8702996 | $14155550 |
| &nbsp;&nbsp;Net realized gain (loss) | 53320566<br>| 157090770<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 34719078 | 112538330<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 96742640<br>| 283784650<br>|
| Distributions to shareholders | (181496626)<br>| (45040106)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 459881390 | 1020368593 |
| Reinvestment of distributions | 179530434<br>| 44942135<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (426121725) | (794408016) |
| **Net increase (decrease) in net assets resulting from share transactions** | 213290099<br>| 270902712<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 128536113<br>| 509647256<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 2130280689 | 1620633433<br>|
| &nbsp;&nbsp;End of period | $2258816802 | $2130280689 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 25282657 | 55957227 |
| Issued in reinvestment of distributions | 10413598<br>| 2687927<br>|
| &nbsp;&nbsp;Redeemed | (23457331) | (43951770) |
| &nbsp;&nbsp;Net increase (decrease) | 12238924 | 14693384 |

---

**Financial Highlights** 

**Fidelity® International Capital Appreciation K6 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  | $19.19 | $16.83 | $13.05 | $11.29 | $17.82 | $13.99 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .14  | .11  | .08  | .06  | .05  |
| Net realized and unrealized gain (loss)  | .73  | 2.69  | 3.74  | 1.73  | (5.14)  | 3.85  |
| Total from investment operations  | .80  | 2.83  | 3.85  | 1.81  | (5.08)  | 3.90  |
| Distributions from net investment income  | (.20)  | (.17)  | (.07)  | (.05)  | (.04)  | (.07)  |
| Distributions from net realized gain  | (1.46)  | (.31)  | -  | -  | (1.41)  | -  |
| Total distributions  | (1.66)  | (.47) C | (.07)  | (.05)  | (1.45)  | (.07)  |
| Net asset value, end of period  | $18.33 | $19.19 | $16.83 | $13.05 | $11.29 | $17.82 |
| **Total Return** D,E | 4.70% <br>| 17.26%  | 29.54%  | 16.02%  | (30.83)%  | 27.93%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .66% H | .65%  | .66%  | .65%  | .65%  | .65%  |
| Expenses net of fee waivers, if any  | .66% H<br>| .65%  | .66%  | .65%  | .65%  | .65%  |
| Expenses net of all reductions, if any  | .66% H | .65%  | .66%  | .65%  | .65%  | .65%  |
| Net investment income (loss)  | .82% H | .76%  | .66%  | .59%  | .44%  | .29%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $2258817 | $2130281 | $1620633 | $1092342 | $763118 | $923233 |
| Portfolio turnover rate I | 141% H<br>| 110%  | 84%  | 78%  | 119% J | 149%  |

---

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.* 

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 International Capital Appreciation K6 Fund (the Fund) is a 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. Shares generally are available only to employer-sponsored retirement plans that are recordkept by Fidelity, or to certain employer-sponsored retirement plans that are not recordkept by Fidelity. 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. 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 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. 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 foreign currency transactions, passive foreign investment companies (PFIC), certain foreign taxes 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** | $578796597 |
| **Gross unrealized depreciation** | <u>(29834929)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$548961668</u> |
| **Tax cost** | <u>$1740188118</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 International Capital Appreciation K6 Fund** | 1551783815 | 1492223351 |

---

**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 .65% of average net assets. 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.

**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 International Capital Appreciation K6 Fund** | 1166 |

---

**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. Any open loans, including accrued interest, at period end are presented as Notes payable to affiliates in the Statement of Assets and Liabilities. 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 International Capital Appreciation K6 Fund**  | Borrower | 13145319 | 3.97% | 100078 |

---

**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 International Capital Appreciation K6 Fund** | 115780155 | 69139237 | 2870144 |

---

**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 International Capital Appreciation K6 Fund** | 7150 | - | - |

---

**8. Bank Borrowings.**

The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. Any open loans, including accrued interest, at period end are presented under the caption "Notes payable" in the Statement of Assets and Liabilities, if applicable. Activity in this program during the period for which loans were outstanding was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)** |
| **Fidelity International Capital Appreciation K6 Fund** | 4416000 | 4.37% | 1072 |

---

**9. 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 $147.

**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.

**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.

![](img131282_4.jpg)<br>

1.9883990.108 IVFK6-SANN-0626

**Fidelity® Global Equity Income Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131283_1.jpg)

![](img131283_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_GED-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Global Equity Income Fund](#Sub_Sec_Fund_2406_GED-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements2406_GED-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_GED-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_GED-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_GED-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_GED-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 Equity Income 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>|
| BELGIUM - 0.9%  |  |  |
| Financials - 0.5% |  |  |
| Banks - 0.5% |  |  |
| KBC Group NV  | 18598 | 2471970 |
| Health Care - 0.4% |  |  |
| Pharmaceuticals - 0.4% |  |  |
| UCB SA (a) | 6532 | 1772444 |
| TOTAL BELGIUM |  | 4244414 |
| BRAZIL - 0.6%  |  |  |
| Utilities - 0.6% |  |  |
| Electric Utilities - 0.6% |  |  |
| Equatorial SA  | 304274 | 2600443 |
| CANADA - 4.0%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Hotels, Restaurants & Leisure - 0.5% |  |  |
| Restaurant Brands International Inc  | 26411 | 2131196 |
| Consumer Staples - 1.4% |  |  |
| Consumer Staples Distribution & Retail - 1.4% |  |  |
| Alimentation Couche-Tard Inc  | 56483 | 3341535 |
| Metro Inc/CN  | 45815 | 3071310 |
| TOTAL CONSUMER STAPLES |  | 6412845 |
| Energy - 1.8% |  |  |
| Oil, Gas & Consumable Fuels - 1.8% |  |  |
| Canadian Natural Resources Ltd  | 54842 | 2617849 |
| Imperial Oil Ltd  | 24880 | 3332841 |
| PrairieSky Royalty Ltd  | 90106 | 2275950 |
| TOTAL ENERGY |  | 8226640 |
| Information Technology - 0.3% |  |  |
| Software - 0.3% |  |  |
| Constellation Software Inc/Canada  | 1149 | 2092612 |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(b) | 581 | 0 |
| TOTAL INFORMATION TECHNOLOGY |  | 2092612 |
| TOTAL CANADA |  | 18863293 |
| DENMARK - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Insurance - 0.1% |  |  |
| Tryg A/S  | 29100 | 698347 |
| FRANCE - 2.8%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 2887 | 1529491 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Danone SA  | 14400 | 1128212 |
| Energy - 1.1% |  |  |
| Energy Equipment & Services - 0.6% |  |  |
| Vallourec SACA  | 80300 | 2417361 |
| Oil, Gas & Consumable Fuels - 0.5% |  |  |
| Gaztransport Et Technigaz SA  | 9500 | 2307983 |
| TOTAL ENERGY |  | 4725344 |
| Financials - 0.2% |  |  |
| Capital Markets - 0.2% |  |  |
| Amundi SA (d)(e) | 10891 | 1050699 |
| Industrials - 0.8% |  |  |
| Aerospace & Defense - 0.8% |  |  |
| Airbus SE  | 8818 | 1817914 |
| Thales SA  | 6300 | 1730846 |
| TOTAL INDUSTRIALS |  | 3548760 |
| Information Technology - 0.2% |  |  |
| IT Services - 0.2% |  |  |
| Capgemini SE  | 8109 | 986187 |
| TOTAL FRANCE |  | 12968693 |
| GERMANY - 3.9%  |  |  |
| Communication Services - 1.0% |  |  |
| Diversified Telecommunication Services - 1.0% |  |  |
| Deutsche Telekom AG  | 146809 | 4742026 |
| Health Care - 0.2% |  |  |
| Health Care Providers & Services - 0.2% |  |  |
| Fresenius SE & Co KGaA  | 18700 | 905633 |
| Industrials - 2.7% |  |  |
| Aerospace & Defense - 2.0% |  |  |
| Rheinmetall AG  | 5932 | 9439204 |
| Industrial Conglomerates - 0.7% |  |  |
| Siemens AG  | 10288 | 3057194 |
| TOTAL INDUSTRIALS |  | 12496398 |
| TOTAL GERMANY |  | 18144057 |
| HONG KONG - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Insurance - 0.4% |  |  |
| AIA Group Ltd  | 175286 | 1924425 |
| HUNGARY - 0.7%  |  |  |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Richter Gedeon Nyrt  | 74600 | 3142265 |
| INDIA - 0.1%  |  |  |
| Financials - 0.1% |  |  |
| Banks - 0.1% |  |  |
| HDFC Bank Ltd ADR  | 20158 | 512215 |
| Information Technology - 0.0% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Redington Ltd  | 71339 | 163944 |
| TOTAL INDIA |  | 676159 |
| IRELAND - 0.4%  |  |  |
| Consumer Staples - 0.1% |  |  |
| Food Products - 0.1% |  |  |
| Kerry Group PLC Class A  | 9100 | 771111 |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| AIB Group PLC  | 111300 | 1279886 |
| TOTAL IRELAND |  | 2050997 |
| ITALY - 1.6%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Automobiles - 0.2% |  |  |
| Ferrari NV (c) | 2500 | 868250 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 40300 | 2347877 |
| Industrials - 0.9% |  |  |
| Electrical Equipment - 0.9% |  |  |
| Prysmian SpA  | 28800 | 4380746 |
| TOTAL ITALY |  | 7596873 |
| JAPAN - 3.8%  |  |  |
| Communication Services - 0.5% |  |  |
| Entertainment - 0.5% |  |  |
| Capcom Co Ltd  | 49836 | 1052218 |
| Nintendo Co Ltd  | 25865 | 1265287 |
| TOTAL COMMUNICATION SERVICES |  | 2317505 |
| Consumer Discretionary - 0.7% |  |  |
| Household Durables - 0.7% |  |  |
| Sony Group Corp  | 155880 | 3123108 |
| Financials - 0.0% |  |  |
| Financial Services - 0.0% |  |  |
| Sony Financial Group Inc  | 155880 | 139849 |
| Health Care - 0.3% |  |  |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Hoya Corp  | 8596 | 1605250 |
| Industrials - 1.6% |  |  |
| Industrial Conglomerates - 0.9% |  |  |
| Hitachi Ltd  | 132023 | 4198114 |
| Machinery - 0.2% |  |  |
| Ebara Corp  | 27896 | 954264 |
| Trading Companies & Distributors - 0.5% |  |  |
| Inaba Denki Sangyo Co Ltd  | 137198 | 2314507 |
| TOTAL INDUSTRIALS |  | 7466885 |
| Information Technology - 0.4% |  |  |
| Semiconductors & Semiconductor Equipment - 0.4% |  |  |
| Renesas Electronics Corp  | 83679 | 1692211 |
| Materials - 0.3% |  |  |
| Chemicals - 0.3% |  |  |
| Shin-Etsu Chemical Co Ltd  | 34680 | 1596744 |
| TOTAL JAPAN |  | 17941552 |
| KENYA - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Wireless Telecommunication Services - 0.1% |  |  |
| Safaricom PLC  | 1360546 | 312878 |
| KOREA (SOUTH) - 4.0%  |  |  |
| Information Technology - 4.0% |  |  |
| Technology Hardware, Storage & Peripherals - 4.0% |  |  |
| Samsung Electronics Co Ltd  | 122116 | 18507207 |
| NETHERLANDS - 2.0%  |  |  |
| Consumer Staples - 0.0% |  |  |
| Food Products - 0.0% |  |  |
| Magnum Ice Cream Co NV/The (United Kingdom)  | 6465 | 94306 |
| Information Technology - 2.0% |  |  |
| Semiconductors & Semiconductor Equipment - 2.0% |  |  |
| NXP Semiconductors NV  | 31245 | 9173220 |
| TOTAL NETHERLANDS |  | 9267526 |
| SOUTH AFRICA - 0.2%  |  |  |
| Consumer Discretionary - 0.2% |  |  |
| Broadline Retail - 0.2% |  |  |
| Naspers Ltd Class N  | 17840 | 966035 |
| SWEDEN - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Hexagon AB B Shares  | 40600 | 436397 |
| SWITZERLAND - 0.9%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| Cie Financiere Richemont SA Series A  | 8776 | 1684267 |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Galderma Group AG  | 13109 | 2750182 |
| TOTAL SWITZERLAND |  | 4434449 |
| TAIWAN - 5.5%  |  |  |
| Information Technology - 5.5% |  |  |
| Semiconductors & Semiconductor Equipment - 5.5% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 366452 | 25520732 |
| UNITED KINGDOM - 8.8%  |  |  |
| Consumer Discretionary - 1.3% |  |  |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 107346 | 3032525 |
| Leisure Products - 0.3% |  |  |
| Games Workshop Group PLC  | 5341 | 1416488 |
| Textiles, Apparel & Luxury Goods - 0.3% |  |  |
| Burberry Group PLC (a) | 89257 | 1406222 |
| TOTAL CONSUMER DISCRETIONARY |  | 5855235 |
| Consumer Staples - 2.1% |  |  |
| Beverages - 0.0% |  |  |
| Diageo PLC  | 27820 | 562503 |
| Food Products - 0.6% |  |  |
| Cranswick PLC  | 20600 | 1510895 |
| Premier Foods PLC  | 401653 | 1080528 |
|  |  | 2591423 |
| Personal Care Products - 0.4% |  |  |
| Unilever PLC  | 28735 | 1675686 |
| Tobacco - 1.1% |  |  |
| British American Tobacco PLC  | 72500 | 4269875 |
| Imperial Brands PLC  | 21601 | 820680 |
|  |  | 5090555 |
| TOTAL CONSUMER STAPLES |  | 9920167 |
| Financials - 1.1% |  |  |
| Banks - 0.4% |  |  |
| Lloyds Banking Group PLC  | 1028879 | 1398558 |
| Starling Bank Ltd (b)(f) | 83600 | 249132 |
|  |  | 1647690 |
| Capital Markets - 0.5% |  |  |
| London Stock Exchange Group PLC  | 19550 | 2540554 |
| Insurance - 0.2% |  |  |
| Hiscox Ltd  | 40809 | 859618 |
| TOTAL FINANCIALS |  | 5047862 |
| Health Care - 2.0% |  |  |
| Pharmaceuticals - 2.0% |  |  |
| Astrazeneca PLC (United States)  | 33768 | 6327110 |
| GSK PLC  | 112397 | 2946766 |
| TOTAL HEALTH CARE |  | 9273876 |
| Industrials - 2.2% |  |  |
| Aerospace & Defense - 1.5% |  |  |
| BAE Systems PLC  | 116374 | 3236775 |
| Rolls-Royce Holdings PLC  | 238837 | 3843261 |
|  |  | 7080036 |
| Professional Services - 0.5% |  |  |
| RELX PLC  | 59541 | 2171243 |
| Trading Companies & Distributors - 0.2% |  |  |
| RS GROUP PLC  | 95777 | 784578 |
| TOTAL INDUSTRIALS |  | 10035857 |
| Information Technology - 0.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Halma PLC  | 11400 | 683638 |
| TOTAL UNITED KINGDOM |  | 40816635 |
| UNITED STATES - 56.0%  |  |  |
| Communication Services - 6.9% |  |  |
| Diversified Telecommunication Services - 0.7% |  |  |
| AT&T Inc  | 49394 | 1290665 |
| Comcast Corp Class A  | 33025 | 892996 |
| Verizon Communications Inc  | 27382 | 1315158 |
|  |  | 3498819 |
| Entertainment - 0.6% |  |  |
| Walt Disney Co/The  | 26030 | 2700612 |
| Interactive Media & Services - 4.8% |  |  |
| Alphabet Inc Class A  | 57987 | 22313398 |
| Media - 0.0% |  |  |
| Versant Media Group Inc Class A  | 1321 | 53090 |
| Wireless Telecommunication Services - 0.8% |  |  |
| T-Mobile US Inc  | 18177 | 3553604 |
| TOTAL COMMUNICATION SERVICES |  | 32119523 |
| Consumer Discretionary - 3.5% |  |  |
| Diversified Consumer Services - 0.2% |  |  |
| H&R Block Inc  | 34398 | 1091449 |
| Hotels, Restaurants & Leisure - 0.8% |  |  |
| McDonald's Corp  | 7793 | 2287947 |
| Starbucks Corp  | 12444 | 1310726 |
|  |  | 3598673 |
| Specialty Retail - 1.7% |  |  |
| Lowe's Cos Inc  | 10807 | 2580603 |
| TJX Cos Inc/The  | 34626 | 5427626 |
|  |  | 8008229 |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| NIKE Inc Class B  | 10800 | 479088 |
| Tapestry Inc  | 22550 | 3270652 |
|  |  | 3749740 |
| TOTAL CONSUMER DISCRETIONARY |  | 16448091 |
| Consumer Staples - 3.9% |  |  |
| Beverages - 1.1% |  |  |
| Coca-Cola Co/The  | 44667 | 3517973 |
| Keurig Dr Pepper Inc  | 48055 | 1412817 |
|  |  | 4930790 |
| Consumer Staples Distribution & Retail - 2.1% |  |  |
| Albertsons Cos Inc Class A (c) | 27400 | 461689 |
| BJ's Wholesale Club Holdings Inc (a) | 13485 | 1266107 |
| Costco Wholesale Corp  | 1924 | 1951956 |
| Target Corp  | 8845 | 1147639 |
| Walmart Inc  | 36144 | 4768478 |
|  |  | 9595869 |
| Food Products - 0.0% |  |  |
| Mondelez International Inc  | 9931 | 610161 |
| Household Products - 0.7% |  |  |
| Procter & Gamble Co/The  | 21290 | 3131546 |
| TOTAL CONSUMER STAPLES |  | 18268366 |
| Energy - 1.6% |  |  |
| Oil, Gas & Consumable Fuels - 1.6% |  |  |
| Exxon Mobil Corp  | 34804 | 5371302 |
| Shell PLC  | 47834 | 2174859 |
| TOTAL ENERGY |  | 7546161 |
| Financials - 10.4% |  |  |
| Banks - 6.5% |  |  |
| Bank of America Corp  | 93751 | 5011928 |
| JPMorgan Chase & Co  | 33822 | 10594066 |
| M&T Bank Corp  | 15145 | 3311151 |
| PNC Financial Services Group Inc/The  | 18347 | 4091381 |
| US Bancorp  | 41200 | 2334392 |
| Wells Fargo & Co  | 55448 | 4559489 |
|  |  | 29902407 |
| Capital Markets - 1.0% |  |  |
| Blackrock Inc  | 1300 | 1385280 |
| Charles Schwab Corp/The  | 26400 | 2419296 |
| MSCI Inc  | 1589 | 939750 |
|  |  | 4744326 |
| Consumer Finance - 0.4% |  |  |
| Capital One Financial Corp  | 10053 | 1923139 |
| Financial Services - 0.2% |  |  |
| Apollo Global Management Inc  | 7200 | 926784 |
| Insurance - 2.3% |  |  |
| Chubb Ltd  | 8427 | 2755629 |
| Hartford Insurance Group Inc/The  | 32028 | 4381751 |
| Travelers Companies Inc/The  | 11424 | 3485919 |
|  |  | 10623299 |
| TOTAL FINANCIALS |  | 48119955 |
| Health Care - 6.0% |  |  |
| Biotechnology - 2.6% |  |  |
| AbbVie Inc  | 35473 | 7496155 |
| Gilead Sciences Inc  | 34005 | 4449214 |
|  |  | 11945369 |
| Health Care Providers & Services - 0.5% |  |  |
| UnitedHealth Group Inc  | 6496 | 2406638 |
| Life Sciences Tools & Services - 0.3% |  |  |
| Danaher Corp  | 9548 | 1708615 |
| Pharmaceuticals - 2.6% |  |  |
| Eli Lilly & Co  | 7230 | 6757158 |
| Johnson & Johnson  | 1000 | 229850 |
| Merck & Co Inc  | 30868 | 3370168 |
| Royalty Pharma PLC Class A  | 36012 | 1803841 |
|  |  | 12161017 |
| TOTAL HEALTH CARE |  | 28221639 |
| Industrials - 3.9% |  |  |
| Aerospace & Defense - 1.6% |  |  |
| GE Aerospace  | 20539 | 5954873 |
| General Dynamics Corp  | 3718 | 1280107 |
|  |  | 7234980 |
| Building Products - 0.5% |  |  |
| Johnson Controls International plc  | 16248 | 2372695 |
| Electrical Equipment - 1.3% |  |  |
| GE Vernova Inc  | 5491 | 5949279 |
| Ground Transportation - 0.3% |  |  |
| Norfolk Southern Corp  | 5000 | 1579150 |
| Machinery - 0.2% |  |  |
| Crane Co  | 6314 | 1122187 |
| TOTAL INDUSTRIALS |  | 18258291 |
| Information Technology - 14.4% |  |  |
| Communications Equipment - 1.1% |  |  |
| Cisco Systems Inc  | 56275 | 5149163 |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Crane NXT Co  | 8814 | 393809 |
| IT Services - 1.1% |  |  |
| Accenture PLC Class A  | 10387 | 1856261 |
| Amdocs Ltd  | 29626 | 1915913 |
| IBM Corporation  | 6500 | 1501370 |
|  |  | 5273544 |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| Broadcom Inc  | 28917 | 12070823 |
| Software - 4.3% |  |  |
| Microsoft Corp  | 49176 | 20052989 |
| Technology Hardware, Storage & Peripherals - 5.2% |  |  |
| Apple Inc  | 88459 | 24003350 |
| TOTAL INFORMATION TECHNOLOGY |  | 66943678 |
| Materials - 1.6% |  |  |
| Chemicals - 1.1% |  |  |
| Linde PLC  | 9868 | 4945250 |
| Construction Materials - 0.2% |  |  |
| Holcim AG  | 13060 | 1213619 |
| Containers & Packaging - 0.3% |  |  |
| Ball Corp  | 12898 | 787810 |
| Crown Holdings Inc  | 5400 | 530874 |
|  |  | 1318684 |
| TOTAL MATERIALS |  | 7477553 |
| Real Estate - 1.0% |  |  |
| Specialized REITs - 1.0% |  |  |
| American Tower Corp  | 6319 | 1154544 |
| Lamar Advertising Co Class A  | 18863 | 2600076 |
| Public Storage  | 3626 | 1096684 |
| TOTAL REAL ESTATE |  | 4851304 |
| Utilities - 2.8% |  |  |
| Electric Utilities - 1.3% |  |  |
| NextEra Energy Inc  | 35637 | 3488150 |
| PG&E Corp  | 34085 | 566492 |
| Southern Co/The  | 19668 | 1901896 |
|  |  | 5956538 |
| Gas Utilities - 0.1% |  |  |
| Southwest Gas Holdings Inc  | 9100 | 855855 |
| Independent Power and Renewable Electricity Producers - 0.7% |  |  |
| Vistra Corp  | 19645 | 3100767 |
| Multi-Utilities - 0.7% |  |  |
| Ameren Corp  | 17643 | 2005127 |
| WEC Energy Group Inc  | 9315 | 1098611 |
|  |  | 3103738 |
| TOTAL UTILITIES |  | 13016898 |
| TOTAL UNITED STATES |  | 261271459 |
| ZAMBIA - 0.3%  |  |  |
| Materials - 0.3% |  |  |
| Metals & Mining - 0.3% |  |  |
| First Quantum Minerals Ltd (a) | 61057 | 1495017 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $286,837,171) |  | <br> **453879853** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.5%** | &nbsp;&nbsp;**Money Market Funds - 2.5%** | &nbsp;&nbsp;**Money Market Funds - 2.5%** | &nbsp;&nbsp;**Money Market Funds - 2.5%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 3.69 | 11706899 | 11709241 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 3.69 | 310064 | 310094 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $12,019,335) |  |  | **12019335** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.7%**<br> (Cost $298,856,506)<br>| <br>**465899188** |
| **NET OTHER ASSETS (LIABILITIES) - 0.3%**  | **1271087** |
| **NET ASSETS - 100.0%** | **467170275** |

---

**Legend**

(a) Non-income producing.

(b) Level 3 security.

(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 $1,050,699 or 0.2% 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 $1,050,699 or 0.2% of net assets.

(f) 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 $249,132 or 0.1% of net assets.

(g) 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.

(h) 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>|
| Starling Bank Ltd | 6/18/2021 - 4/5/2022 | 170981 |

---

**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 | 10046726 | 34116268 | 32453329 | 241314 | (424) | - | 11709241 | 11706899 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | - | 10347736 | 10037687 | 1080 | 45 | - | 310094 | 310064 | 0.0% |
| Total | 10046726 | 44464004 | 42491016 | 242394 | (379) | - | 12019335 |  |  |

---

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 | 39491932 | 32432401 | 7059531 | - |
| Consumer Discretionary | 32605673 | 26832263 | 5773410 | - |
| Consumer Staples | 36595007 | 28138051 | 8456956 | - |
| Energy | 20498145 | 18323286 | 2174859 | - |
| Financials | 61245208 | 57533244 | 3462832 | 249132 |
| Health Care | 50019166 | 41811335 | 8207831 | - |
| Industrials | 56186937 | 28482073 | 27704864 | - |
| Information Technology | 126199826 | 79329545 | 46870281 | - |
| Materials | 10569314 | 7758951 | 2810363 | - |
| Real Estate | 4851304 | 4851304 | - | - |
| Utilities | 15617341 | 15617341 | - | - |
|  **Money Market Funds** | 12019335 | 12019335 | - | - |
| **Total Investments in Securities:** | 465899188 | 353129129 | 112520927 | 249132 |

---

**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 $735,505) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $286,837,171) | $453879853 |  |
| Fidelity Central Funds (cost $12,019,335) | 12019335 |  |
| Total Investment in Securities (cost $298,856,506) |  | $465899188 |
| Cash |  | 25794 |
| Foreign currency held at value (cost $34,619) |  | 34763 |
| Receivable for investments sold |  | 1007851 |
| Receivable for fund shares sold |  | 291316 |
| Dividends receivable |  | 613808 |
| Reclaims receivable |  | 332636 |
| Distributions receivable from Fidelity Central Funds |  | 37856 |
| Prepaid expenses |  | 94 |
| Other receivables |  | 382 |
| **Total assets** |  | 468243688 |
| **Liabilities** |  |  |
| Payable for fund shares redeemed | $373133 |  |
| Accrued management fee | 307114 |  |
| Distribution and service plan fees payable | 21508 |  |
| Other payables and accrued expenses | 61608 |  |
| Collateral on securities loaned | 310050 |  |
| **Total liabilities** |  | 1073413 |
| **Net Assets**  |  | $467170275 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $300325968 |
| Total accumulated earnings (loss) |  | 166844307 |
| **Net Assets** |  | $467170275 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($35,079,369 ÷ 1,316,916 shares)(a) |  | $26.64 |
| Maximum offering price per share (100/94.25 of $26.64) |  | $28.27 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($25,154,635 ÷ 944,951 shares)(a) |  | $26.62 |
| Maximum offering price per share (100/96.50 of $26.62) |  | $27.59 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($5,182,523 ÷ 195,489 shares)(a) |  | $26.51 |
| **Fidelity Global Equity Income Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($339,709,402 ÷ 12,755,501 shares) |  | $26.63 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($21,821,588 ÷ 819,183 shares) |  | $26.64 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($40,222,758 ÷ 1,509,697 shares) |  | $26.64 |
| *(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  |  | $3706032 |
| Income from Fidelity Central Funds (including $1,080 from security lending)  |  | 242394 |
| Security lending |  | 6 |
| Income before foreign taxes withheld |  | $3948432 |
| Less foreign taxes withheld |  | (190067) |
| **Total income** |  | 3758365 |
| **Expenses** |  |  |
| Management fee | $1739363 |  |
| Distribution and service plan fees | 124400 |  |
| Custodian fees and expenses | 7803 |  |
| Independent trustees' fees and expenses | 635 |  |
| Registration fees | 59056 |  |
| Audit fees | 17735 |  |
| Legal | 213 |  |
| Miscellaneous | 548 |  |
| Total expenses before reductions | 1949753 |  |
| Expense reductions | (179) |  |
| Total expenses after reductions |  | 1949574 |
| **Net Investment income (loss)** |  | 1808791 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 204294 |  |
| Fidelity Central Funds | (379) |  |
| Foreign currency transactions | 20133 |  |
| Total net realized gain (loss) |  | 224048 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $6,092)  | 38207310 |  |
| Assets and liabilities in foreign currencies | 19092 |  |
| Total change in net unrealized appreciation (depreciation) |  | 38226402 |
| **Net gain (loss)** |  | 38450450 |
| **Net increase (decrease) in net assets resulting from operations** |  | $40259241 |

---

---

| | | |
|:---|:---|:---|
| **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) | $1808791 | $3394147 |
| &nbsp;&nbsp;Net realized gain (loss) | 224048<br>| 11286924<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 38226402 | 51046819<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 40259241<br>| 65727890<br>|
| Distributions to shareholders | (6027300)<br>| (4747368)<br>|
| Share transactions - net increase (decrease) | 41904383<br>| 72355976<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 76136324<br>| 133336498<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 391033951 | 257697453<br>|
| &nbsp;&nbsp;End of period | $467170275 | $391033951 |

---

**Financial Highlights** 

**Fidelity Advisor® Global Equity Income Fund Class A**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024** A  |
| **Selected Per-Share Data**  |  |  |  |
| Net asset value, beginning of period  | $24.63 | $20.36 | $21.10 |
| Income from Investment Operations  |  |  |  |
| Net investment income (loss) B,C | .08  | .19  | (.01)  |
| Net realized and unrealized gain (loss)  | 2.27  | 4.36  | (.73)  |
| Total from investment operations  | 2.35  | 4.55  | (.74)  |
| Distributions from net investment income  | (.07)  | (.16)  | -  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  |
| Total distributions  | (.34)  | (.28) D | -  |
| Net asset value, end of period  | $26.64 | $24.63 | $20.36 |
| **Total Return** E,F,G | 9.65% <br>| 22.58%  | (3.51)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |
| Expenses before reductions  | 1.15% J | 1.21%  | 1.06% J,K |
| Expenses net of fee waivers, if any  | 1.15% J<br>| 1.18%  | 1.05% J,K |
| Expenses net of all reductions, if any  | 1.15% J | 1.18%  | 1.05% J,K |
| Net investment income (loss)  | .60% J | .84%  | (.82)% J,K |
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000 omitted) | $35079 | $30360 | $24403 |
| Portfolio turnover rate L | 3% J<br>| 19%  | 29% M |

---

A*For the period October 18, 2024 (commencement of sale of shares) through October 31, 2024.*

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

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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Global Equity Income Fund Class M**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024** A  |
| **Selected Per-Share Data**  |  |  |  |
| Net asset value, beginning of period  | $24.62 | $20.36 | $21.10 |
| Income from Investment Operations  |  |  |  |
| Net investment income (loss) B,C | .04  | .13  | (.01)  |
| Net realized and unrealized gain (loss)  | 2.27  | 4.37  | (.73)  |
| Total from investment operations  | 2.31  | 4.50  | (.74)  |
| Distributions from net investment income  | (.04)  | (.11)  | -  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  |
| Total distributions  | (.31)  | (.24)  | -  |
| Net asset value, end of period  | $26.62 | $24.62 | $20.36 |
| **Total Return** D,E,F | 9.49% <br>| 22.29%  | (3.51)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |  |
| Expenses before reductions  | 1.40% I | 1.46%  | 1.31% I,J |
| Expenses net of fee waivers, if any  | 1.40% I<br>| 1.42%  | 1.31% I,J |
| Expenses net of all reductions, if any  | 1.40% I | 1.42%  | 1.31% I,J |
| Net investment income (loss)  | .35% I | .60%  | (1.07)% I,J |
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000 omitted) | $25155 | $22341 | $16568 |
| Portfolio turnover rate K | 3% I<br>| 19%  | 29% L |

---

A*For the period October 18, 2024 (commencement of sale of shares) through October 31, 2024.*

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.*

L*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Global Equity Income Fund Class C**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024** A  |
| **Selected Per-Share Data**  |  |  |  |
| Net asset value, beginning of period  | $24.54 | $20.35 | $21.10 |
| Income from Investment Operations  |  |  |  |
| Net investment income (loss) B,C | (.02)  | .02  | (.01)  |
| Net realized and unrealized gain (loss)  | 2.26  | 4.35  | (.74)  |
| Total from investment operations  | 2.24  | 4.37  | (.75)  |
| Distributions from net investment income  | -  | (.06)  | -  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  |
| Total distributions  | (.27)  | (.18) D | -  |
| Net asset value, end of period  | $26.51 | $24.54 | $20.35 |
| **Total Return** E,F,G | 9.23% <br>| 21.64%  | (3.55)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |
| Expenses before reductions  | 1.90% J | 1.96%  | 1.81% J,K |
| Expenses net of fee waivers, if any  | 1.90% J<br>| 1.93%  | 1.80% J,K |
| Expenses net of all reductions, if any  | 1.90% J | 1.93%  | 1.80% J,K |
| Net investment income (loss)  | (.15)% J | .09%  | (1.57)% J,K |
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000 omitted) | $5183 | $4906 | $4953 |
| Portfolio turnover rate L | 3% J<br>| 19%  | 29% M |

---

A*For the period October 18, 2024 (commencement of sale of shares) through October 31, 2024.*

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 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*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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity® Global Equity Income 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  | $24.62 | $20.36 | $16.19 | $15.58 | $19.80 | $15.12 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .25  | .22  | .22  | .20  | .15  |
| Net realized and unrealized gain (loss)  | 2.28  | 4.36  | 4.17  | .62  | (2.21)  | 5.07  |
| Total from investment operations  | 2.39  | 4.61  | 4.39  | .84  | (2.01)  | 5.22  |
| Distributions from net investment income  | (.10)  | (.23)  | (.22)  | (.23)  | (.17)  | (.16)  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  | -  | (2.04)  | (.38)  |
| Total distributions  | (.38) C | (.35) C | (.22)  | (.23)  | (2.21)  | (.54)  |
| Net asset value, end of period  | $26.63 | $24.62 | $20.36 | $16.19 | $15.58 | $19.80 |
| **Total Return** D,E | 9.81% <br>| 22.93%  | 27.18%  | 5.36%  | (11.45)%  | 35.09%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .85% H | .91%  | .93%  | 1.00%  | .98%  | 1.02%  |
| Expenses net of fee waivers, if any  | .85% H<br>| .89%  | .92%  | 1.00%  | .98%  | 1.02%  |
| Expenses net of all reductions, if any  | .85% H | .89%  | .92%  | 1.00%  | .98%  | 1.02%  |
| Net investment income (loss)  | .90% H | 1.13%  | 1.15%  | 1.33%  | 1.22%  | .84%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $339709 | $275822 | $166803 | $147940 | $139355 | $92918 |
| Portfolio turnover rate I | 3% H<br>| 19%  | 29% J | 30%  | 61%  | 43%  |

---

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.*

J*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Global Equity Income Fund Class I**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024** A  |
| **Selected Per-Share Data**  |  |  |  |
| Net asset value, beginning of period  | $24.63 | $20.36 | $21.10 |
| Income from Investment Operations  |  |  |  |
| Net investment income (loss) B,C | .11  | .24  | - D |
| Net realized and unrealized gain (loss)  | 2.27  | 4.37  | (.74)  |
| Total from investment operations  | 2.38  | 4.61  | (.74)  |
| Distributions from net investment income  | (.10)  | (.22)  | -  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  |
| Total distributions  | (.37)  | (.34) E | -  |
| Net asset value, end of period  | $26.64 | $24.63 | $20.36 |
| **Total Return** F,G | 9.78% <br>| 22.92%  | (3.51)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |
| Expenses before reductions  | .89% J | .95%  | .80% J,K |
| Expenses net of fee waivers, if any  | .89% J<br>| .91%  | .80% J,K |
| Expenses net of all reductions, if any  | .89% J | .91%  | .80% J,K |
| Net investment income (loss)  | .86% J | 1.11%  | (.57)% J,K |
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000 omitted) | $21822 | $19276 | $14026 |
| Portfolio turnover rate L | 3% J<br>| 19%  | 29% M |

---

A*For the period October 18, 2024 (commencement of sale of shares) through October 31, 2024.*

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 distributions per share do not sum due to rounding.*

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

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

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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Global Equity Income Fund Class Z**<br>

---

| | | | |
|:---|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025**  | **2024** A  |
| **Selected Per-Share Data**  |  |  |  |
| Net asset value, beginning of period  | $24.63 | $20.36 | $21.10 |
| Income from Investment Operations  |  |  |  |
| Net investment income (loss) B,C | .13  | .27  | - D |
| Net realized and unrealized gain (loss)  | 2.27  | 4.37  | (.74)  |
| Total from investment operations  | 2.40  | 4.64  | (.74)  |
| Distributions from net investment income  | (.11)  | (.24)  | -  |
| Distributions from net realized gain  | (.27)  | (.13)  | -  |
| Total distributions  | (.39) E | (.37)  | -  |
| Net asset value, end of period  | $26.64 | $24.63 | $20.36 |
| **Total Return** F,G | 9.85% <br>| 23.05%  | (3.51)%  |
| **Ratios to Average Net Assets** C,H,I |  |  |  |
| Expenses before reductions  | .76% J | .82%  | .64% J,K |
| Expenses net of fee waivers, if any  | .76% J<br>| .78%  | .64% J,K |
| Expenses net of all reductions, if any  | .76% J | .78%  | .64% J,K |
| Net investment income (loss)  | .99% J | 1.24%  | (.41)% J,K |
| **Supplemental Data** |  |  |  |
| Net assets, end of period (000 omitted) | $40223 | $38329 | $30944 |
| Portfolio turnover rate L | 3% J<br>| 19%  | 29% M |

---

A*For the period October 18, 2024 (commencement of sale of shares) through October 31, 2024.*

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 distributions per share do not sum due to rounding.*

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

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

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.*

M*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity Global Equity Income 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, Global Equity Income, 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. 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 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. 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), 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** | $177935465 |
| **Gross unrealized depreciation** | <u>(11707720)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$166227745</u> |
| **Tax cost** | <u>$299671443</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 Global Equity Income Fund** | 41454661 | 5415600 |

---

**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** | .86 |
| **Class C** | .88 |
| **Fidelity Global Equity Income Fund** | .86 |
| **Class I** | .85 |
| **Class Z** | .72 |

---

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** | .86 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Fidelity Global Equity Income Fund** | .81 |
| **Class I** | .85 |
| **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% | 40567 | 1908 |
| **Class M** | .25% | .25% | 59172 | 529 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>24661</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>2465</u> |
|  |  |  | <u>124400</u> | <u>4902</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** | 7486 |
| **Class M** | 1143 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>42</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>8671</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 Equity Income Fund** | 41 |

---

**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 Equity Income Fund** | 2873126 | 27614 | 1991 |

---

**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 Equity Income Fund** | 265 |

---

**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 Equity Income Fund** | 116 | - | - |

---

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 Equity Income Fund** | 422665 |

---

**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 $179.

**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 Equity Income Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $427670 | $340380 |
| Class M | 288057 | 200992 |
| Class C | 53235 | 41563 |
| Fidelity Global Equity Income Fund | 4363490 | 3393599 |
| Class I | 291516 | 275658 |
| Class Z | &nbsp;&nbsp;&nbsp;&nbsp; <u>603332</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>495176</u> |
| Total  | <u>$6027300</u> | <u>$4747368</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 Equity Income Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 179418 | 281020 | $4554900 | $6199876 |
| Reinvestment of distributions  | 17322 | 15956 | 427639 | 340107 |
| Shares redeemed | <u>(112492)</u> | <u>(262832)</u> | <u>(2859109)</u> | <u>(5665599)</u> |
| Net increase (decrease) | <u>84248</u> | <u>34144</u> | <u>$2123430</u> | <u>$874384</u> |
| **Class M** |  |  |  |  |
| Shares sold | 104658 | 232499 | $2638577 | $5077426 |
| Reinvestment of distributions  | 11599 | 9467 | 286255 | 200333 |
| Shares redeemed | <u>(78809)</u> | <u>(148179)</u> | <u>(2007212)</u> | <u>(3237846)</u> |
| Net increase (decrease) | <u>37448</u> | <u>93787</u> | <u>$917620</u> | <u>$2039913</u> |
| **Class C** |  |  |  |  |
| Shares sold | 21673 | 21168 | $542892 | $473525 |
| Reinvestment of distributions  | 2162 | 2009 | 53235 | 41563 |
| Shares redeemed | <u>(28273)</u> | <u>(66633)</u> | <u>(716532)</u> | <u>(1437294)</u> |
| Net increase (decrease) | <u>(4438)</u> | <u>(43456)</u> | <u>$(120405)</u> | <u>$(922206)</u> |
| **Fidelity Global Equity Income Fund** |  |  |  |  |
| Shares sold | 2970152 | 5375651 | $75080106 | $119641589 |
| Reinvestment of distributions  | 159231 | 140510 | 3930235 | 3021195 |
| Shares redeemed | <u>(1575338)</u> | <u>(2506593)</u> | <u>(39780431)</u> | <u>(55825474)</u> |
| Net increase (decrease) | <u>1554045</u> | <u>3009568</u> | <u>$39229910</u> | <u>$66837310</u> |
| **Class I** |  |  |  |  |
| Shares sold | 70923 | 315716 | $1804273 | $6755276 |
| Reinvestment of distributions  | 11403 | 12484 | 281513 | 266369 |
| Shares redeemed | <u>(45823)</u> | <u>(234372)</u> | <u>(1155653)</u> | <u>(5068708)</u> |
| Net increase (decrease) | <u>36503</u> | <u>93828</u> | <u>$930133</u> | <u>$1952937</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 203772 | 504954 | $5140075 | $11596596 |
| Reinvestment of distributions  | 23250 | 21831 | 574096 | 467938 |
| Shares redeemed | <u>(273306)</u> | <u>(490493)</u> | <u>(6890476)</u> | <u>(10490896)</u> |
| Net increase (decrease) | <u>(46284)</u> | <u>36292</u> | <u>$(1176305)</u> | <u>$1573638</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.

![](img131283_4.jpg)<br>

1.938166.113 GED-SANN-0626

**Fidelity® Emerging Markets Discovery Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131287_1.jpg)

![](img131287_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_EMD-TEK-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Emerging Markets Discovery Fund](#Sub_Sec_Fund_2374_EMD-TEK-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements2374_EMD-TEK-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_EMD-TEK-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_EMD-TEK-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_EMD-TEK-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_EMD-TEK-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® Emerging Markets Discovery Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.8%** | &nbsp;&nbsp;**Common Stocks - 98.8%** | &nbsp;&nbsp;**Common Stocks - 98.8%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.1%  |  |  |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| YPF SA Class D ADR (c)(d) | 48400 | 2185744 |
| BRAZIL - 7.7%  |  |  |
| Consumer Discretionary - 1.8% |  |  |
| Diversified Consumer Services - 0.6% |  |  |
| Afya Ltd Class A (d) | 658659 | 9491276 |
| Specialty Retail - 1.2% |  |  |
| Vibra Energia SA  | 2664848 | 17920643 |
| TOTAL CONSUMER DISCRETIONARY |  | 27411919 |
| Energy - 1.5% |  |  |
| Oil, Gas & Consumable Fuels - 1.5% |  |  |
| PRIO SA/Brazil (c) | 1638860 | 21979218 |
| Financials - 1.0% |  |  |
| Insurance - 1.0% |  |  |
| Caixa Seguridade Participacoes S/A  | 3989390 | 14574107 |
| Health Care - 1.0% |  |  |
| Pharmaceuticals - 1.0% |  |  |
| Hypera SA  | 3136551 | 14270870 |
| Industrials - 2.3% |  |  |
| Commercial Services & Supplies - 1.3% |  |  |
| Orizon Valorizacao de Residuos SA (c) | 1139280 | 18751024 |
| Ground Transportation - 1.0% |  |  |
| Localiza Rent a Car SA  | 1642560 | 15228791 |
| TOTAL INDUSTRIALS |  | 33979815 |
| Utilities - 0.1% |  |  |
| Water Utilities - 0.1% |  |  |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP  | 290310 | 1943491 |
| TOTAL BRAZIL |  | 114159420 |
| CHILE - 0.8%  |  |  |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Banco de Chile ADR  | 330729 | 12524707 |
| CHINA - 17.2%  |  |  |
| Communication Services - 1.1% |  |  |
| Entertainment - 0.8% |  |  |
| DouYu International Holdings Ltd ADR (c) | 609903 | 2976326 |
| Tencent Music Entertainment Group Class A ADR  | 988450 | 9064087 |
|  |  | 12040413 |
| Interactive Media & Services - 0.3% |  |  |
| Tongdao Liepin Group (b)(c) | 11740997 | 3785091 |
| TOTAL COMMUNICATION SERVICES |  | 15825504 |
| Consumer Discretionary - 3.1% |  |  |
| Automobile Components - 0.8% |  |  |
| Bethel Automotive Safety Systems Co Ltd A Shares (China)  | 1787411 | 12092864 |
| Diversified Consumer Services - 0.8% |  |  |
| TAL Education Group Class A ADR (c) | 1088170 | 12100451 |
| Household Durables - 0.6% |  |  |
| Chervon Holdings Ltd  | 4138690 | 8643328 |
| Textiles, Apparel & Luxury Goods - 0.9% |  |  |
| Li Ning Co Ltd  | 5270190 | 13720783 |
| TOTAL CONSUMER DISCRETIONARY |  | 46557426 |
| Consumer Staples - 2.4% |  |  |
| Beverages - 2.4% |  |  |
| China Resources Beer Holdings Co Ltd  | 3200583 | 11028266 |
| Eastroc Beverage Group Co Ltd (e) | 408900 | 10619298 |
| Tsingtao Brewery Co Ltd H Shares  | 2036046 | 14076441 |
| TOTAL CONSUMER STAPLES |  | 35724005 |
| Financials - 0.9% |  |  |
| Financial Services - 0.9% |  |  |
| Far East Horizon Ltd  | 13429244 | 12872396 |
| Health Care - 2.1% |  |  |
| Biotechnology - 1.1% |  |  |
| Zai Lab Ltd (c)(d) | 7546720 | 16197073 |
| Pharmaceuticals - 1.0% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (a)(b) | 3110140 | 14896539 |
| TOTAL HEALTH CARE |  | 31093612 |
| Industrials - 4.9% |  |  |
| Electrical Equipment - 1.1% |  |  |
| Hongfa Technology Co Ltd A Shares (China)  | 3677501 | 16851037 |
| Machinery - 3.8% |  |  |
| Airtac International Group  | 445140 | 20849687 |
| Sany Heavy Equipment International Holdings Co Ltd  | 8816910 | 12187502 |
| Shenzhen Inovance Technology Co Ltd A Shares (China)  | 1125197 | 11350969 |
| Zhejiang Dingli Machinery Co Ltd A Shares (China)  | 1512020 | 12253952 |
|  |  | 56642110 |
| TOTAL INDUSTRIALS |  | 73493147 |
| Materials - 2.7% |  |  |
| Containers & Packaging - 0.8% |  |  |
| Shenzhen YUTO Packaging Technology Co Ltd A Shares (China)  | 2355580 | 13087736 |
| Metals & Mining - 1.9% |  |  |
| Chuangxin Industries Holdings Ltd H Shares  | 4259193 | 12377265 |
| MMG Ltd (c) | 14181710 | 15300450 |
|  |  | 27677715 |
| TOTAL MATERIALS |  | 40765451 |
| TOTAL CHINA |  | 256331541 |
| FRANCE - 1.0%  |  |  |
| Energy - 1.0% |  |  |
| Oil, Gas & Consumable Fuels - 1.0% |  |  |
| Gaztransport Et Technigaz SA  | 63600 | 15451337 |
| GEORGIA - 1.0%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Lion Finance Group PLC  | 96456 | 14490276 |
| GREECE - 0.7%  |  |  |
| Industrials - 0.7% |  |  |
| Transportation Infrastructure - 0.7% |  |  |
| Athens International Airport SA  | 855030 | 9744043 |
| HUNGARY - 1.1%  |  |  |
| Health Care - 1.1% |  |  |
| Pharmaceuticals - 1.1% |  |  |
| Richter Gedeon Nyrt  | 405025 | 17060268 |
| INDIA - 10.1%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Automobiles - 0.8% |  |  |
| Eicher Motors Ltd  | 160993 | 12114378 |
| Financials - 2.5% |  |  |
| Consumer Finance - 1.8% |  |  |
| Manappuram Finance Ltd  | 4766223 | 14812221 |
| Shriram Finance Ltd  | 1159425 | 11531635 |
|  |  | 26343856 |
| Insurance - 0.7% |  |  |
| HDFC Life Insurance Co Ltd (a)(b) | 1742090 | 10821307 |
| TOTAL FINANCIALS |  | 37165163 |
| Health Care - 1.9% |  |  |
| Health Care Providers & Services - 1.0% |  |  |
| Max Healthcare Institute Ltd  | 1440590 | 15157804 |
| Pharmaceuticals - 0.9% |  |  |
| Torrent Pharmaceuticals Ltd  | 298968 | 13209061 |
| TOTAL HEALTH CARE |  | 28366865 |
| Industrials - 3.8% |  |  |
| Aerospace & Defense - 1.9% |  |  |
| Bharat Electronics Ltd  | 2830023 | 12920161 |
| Hindustan Aeronautics Ltd (b) | 298590 | 13709678 |
|  |  | 26629839 |
| Air Freight & Logistics - 0.9% |  |  |
| Delhivery Ltd (c) | 2824340 | 13957706 |
| Professional Services - 1.0% |  |  |
| Computer Age Management Services Ltd  | 1859960 | 14564614 |
| TOTAL INDUSTRIALS |  | 55152159 |
| Materials - 0.3% |  |  |
| Construction Materials - 0.3% |  |  |
| Deccan Cements Ltd (g) | 721239 | 5000767 |
| Real Estate - 0.8% |  |  |
| Real Estate Management & Development - 0.8% |  |  |
| Oberoi Realty Ltd  | 698290 | 12349569 |
| TOTAL INDIA |  | 150148901 |
| INDONESIA - 3.0%  |  |  |
| Consumer Staples - 2.3% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Sumber Alfaria Trijaya Tbk PT  | 163678250 | 12526076 |
| Food Products - 1.5% |  |  |
| First Resources Ltd  | 8009541 | 22002241 |
| TOTAL CONSUMER STAPLES |  | 34528317 |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| Bank Syariah Indonesia Persero Tbk PT  | 100834960 | 10355851 |
| TOTAL INDONESIA |  | 44884168 |
| KOREA (SOUTH) - 10.5%  |  |  |
| Consumer Discretionary - 1.5% |  |  |
| Household Durables - 0.9% |  |  |
| Coway Co Ltd  | 207219 | 12124684 |
| Textiles, Apparel & Luxury Goods - 0.6% |  |  |
| Misto Holdings Corp  | 349485 | 9675288 |
| TOTAL CONSUMER DISCRETIONARY |  | 21799972 |
| Consumer Staples - 1.0% |  |  |
| Tobacco - 1.0% |  |  |
| KT&G Corp  | 124620 | 15120855 |
| Financials - 2.8% |  |  |
| Banks - 1.3% |  |  |
| Woori Financial Group Inc  | 875890 | 20102141 |
| Insurance - 1.5% |  |  |
| DB Insurance Co Ltd  | 157965 | 18090780 |
| Seoul Guarantee Insurance Co  | 121923 | 3967226 |
|  |  | 22058006 |
| TOTAL FINANCIALS |  | 42160147 |
| Industrials - 2.0% |  |  |
| Aerospace & Defense - 1.3% |  |  |
| Korea Aerospace Industries Ltd  | 163969 | 18906000 |
| Professional Services - 0.7% |  |  |
| NICE Information Service Co Ltd  | 1027360 | 10689148 |
| TOTAL INDUSTRIALS |  | 29595148 |
| Information Technology - 1.2% |  |  |
| Semiconductors & Semiconductor Equipment - 1.2% |  |  |
| HPSP Co Ltd  | 497240 | 18122669 |
| Materials - 2.0% |  |  |
| Chemicals - 2.0% |  |  |
| Hansol Chemical Co Ltd  | 73158 | 14406854 |
| Soulbrain Co Ltd  | 46247 | 14644304 |
| TOTAL MATERIALS |  | 29051158 |
| TOTAL KOREA (SOUTH) |  | 155849949 |
| MEXICO - 4.1%  |  |  |
| Consumer Staples - 0.8% |  |  |
| Food Products - 0.8% |  |  |
| Gruma SAB de CV Series B  | 672900 | 11677955 |
| Financials - 1.8% |  |  |
| Banks - 1.0% |  |  |
| Regional SAB de CV  | 1769192 | 14908268 |
| Insurance - 0.8% |  |  |
| Qualitas Controladora SAB de CV (d) | 1220563 | 12172441 |
| TOTAL FINANCIALS |  | 27080709 |
| Industrials - 0.8% |  |  |
| Transportation Infrastructure - 0.8% |  |  |
| Grupo Aeroportuario del Centro Norte SAB de CV Series B  | 926780 | 12299591 |
| Real Estate - 0.7% |  |  |
| Diversified REITs - 0.7% |  |  |
| Fibra Uno Administracion SA de CV (d) | 6208936 | 10659529 |
| TOTAL MEXICO |  | 61717784 |
| PANAMA - 0.8%  |  |  |
| Industrials - 0.8% |  |  |
| Passenger Airlines - 0.8% |  |  |
| Copa Holdings SA Class A  | 97420 | 11269546 |
| PERU - 1.7%  |  |  |
| Financials - 1.7% |  |  |
| Banks - 1.7% |  |  |
| Credicorp Ltd  | 38140 | 12363844 |
| Intercorp Financial Services Inc (United States) (b) | 286750 | 12783315 |
| TOTAL PERU |  | 25147159 |
| PHILIPPINES - 1.8%  |  |  |
| Industrials - 1.0% |  |  |
| Transportation Infrastructure - 1.0% |  |  |
| International Container Terminal Services Inc  | 1245840 | 14472769 |
| Real Estate - 0.8% |  |  |
| Real Estate Management & Development - 0.8% |  |  |
| Robinsons Land Corp  | 45274679 | 12827598 |
| TOTAL PHILIPPINES |  | 27300367 |
| POLAND - 3.7%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Broadline Retail - 1.0% |  |  |
| Allegro.eu SA (a)(b)(c) | 1767880 | 14507170 |
| Consumer Staples - 0.8% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Dino Polska SA (a)(b)(c) | 1485790 | 13141257 |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| Powszechna Kasa Oszczednosci Bank Polski SA  | 524150 | 13685046 |
| Industrials - 1.0% |  |  |
| Professional Services - 1.0% |  |  |
| Benefit Systems SA (c) | 13107 | 14463695 |
| TOTAL POLAND |  | 55797168 |
| ROMANIA - 0.9%  |  |  |
| Utilities - 0.9% |  |  |
| Independent Power and Renewable Electricity Producers - 0.9% |  |  |
| Societatea De Producere A Energiei Electrice in Hidrocentrale Hidroelectrica SA  | 381130 | 13672671 |
| RUSSIA - 0.0%  |  |  |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| T-Tekhnologii MKPAO Class A GDR (Russia) (b)(c)(f) | 59253 | 0 |
| Real Estate - 0.0% |  |  |
| Real Estate Management & Development - 0.0% |  |  |
| LSR Group PJSC (c)(f) | 67346 | 0 |
| TOTAL RUSSIA |  | 0 |
| SAUDI ARABIA - 2.3%  |  |  |
| Financials - 1.1% |  |  |
| Insurance - 1.1% |  |  |
| Bupa Arabia for Cooperative Insurance Co  | 331781 | 16144523 |
| Industrials - 1.2% |  |  |
| Electrical Equipment - 1.2% |  |  |
| Electrical Industries Co  | 3768320 | 18246285 |
| TOTAL SAUDI ARABIA |  | 34390808 |
| SOUTH AFRICA - 3.3%  |  |  |
| Financials - 0.8% |  |  |
| Financial Services - 0.8% |  |  |
| FirstRand Ltd  | 2369466 | 12550382 |
| Industrials - 0.8% |  |  |
| Industrial Conglomerates - 0.8% |  |  |
| Bidvest Group Ltd  | 797407 | 11168724 |
| Materials - 1.7% |  |  |
| Chemicals - 1.7% |  |  |
| Sasol Ltd (c) | 1841590 | 25597278 |
| TOTAL SOUTH AFRICA |  | 49316384 |
| TAIWAN - 21.2%  |  |  |
| Communication Services - 1.1% |  |  |
| Entertainment - 1.1% |  |  |
| International Games System Co Ltd  | 667090 | 15906587 |
| Consumer Discretionary - 2.7% |  |  |
| Broadline Retail - 1.2% |  |  |
| Poya International Co Ltd  | 956098 | 17371023 |
| Household Durables - 0.9% |  |  |
| Nien Made Enterprise Co Ltd  | 1176280 | 13205884 |
| Textiles, Apparel & Luxury Goods - 0.6% |  |  |
| Makalot Industrial Co Ltd  | 1370318 | 9255404 |
| TOTAL CONSUMER DISCRETIONARY |  | 39832311 |
| Industrials - 4.1% |  |  |
| Construction & Engineering - 1.2% |  |  |
| Acter Group Corp Ltd  | 688440 | 18461617 |
| Electrical Equipment - 2.9% |  |  |
| Bizlink Holding Inc  | 357171 | 32173563 |
| Voltronic Power Technology Corp  | 400460 | 9982755 |
|  |  | 42156318 |
| TOTAL INDUSTRIALS |  | 60617935 |
| Information Technology - 13.3% |  |  |
| Electronic Equipment, Instruments & Components - 7.4% |  |  |
| Chroma ATE Inc  | 478010 | 32766518 |
| E Ink Holdings Inc  | 2638320 | 11646263 |
| Unimicron Technology Corp  | 1564457 | 44577209 |
| Yageo Corp  | 2115160 | 21634144 |
|  |  | 110624134 |
| Semiconductors & Semiconductor Equipment - 4.7% |  |  |
| ASPEED Technology Inc  | 51080 | 27546590 |
| eMemory Technology Inc  | 189240 | 24042143 |
| King Yuan Electronics Co Ltd  | 1812310 | 17776074 |
|  |  | 69364807 |
| Technology Hardware, Storage & Peripherals - 1.2% |  |  |
| Advantech Co Ltd  | 1517530 | 17408860 |
| TOTAL INFORMATION TECHNOLOGY |  | 197397801 |
| TOTAL TAIWAN |  | 313754634 |
| TURKEY - 2.2%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Mavi Giyim Sanayi Ve Ticaret AS Class B (a)(b) | 11937794 | 11445128 |
| Industrials - 1.4% |  |  |
| Aerospace & Defense - 1.4% |  |  |
| Aselsan Elektronik Sanayi Ve Ticaret AS  | 2232600 | 20764752 |
| TOTAL TURKEY |  | 32209880 |
| UNITED ARAB EMIRATES - 0.9%  |  |  |
| Energy - 0.9% |  |  |
| Energy Equipment & Services - 0.9% |  |  |
| ADNOC Drilling Co PJSC  | 8569750 | 13205408 |
| UNITED STATES - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Consumer Finance - 1.1% |  |  |
| FirstCash Holdings Inc  | 74850 | 16333767 |
| VIETNAM - 1.6%  |  |  |
| Financials - 0.9% |  |  |
| Banks - 0.9% |  |  |
| Bank for Foreign Trade of Vietnam JSC  | 5651740 | 12865331 |
| Information Technology - 0.7% |  |  |
| IT Services - 0.7% |  |  |
| FPT Corp  | 4039931 | 11607383 |
| TOTAL VIETNAM |  | 24472714 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,087,246,723) |  | <br> **1471418644** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** | &nbsp;&nbsp;**Money Market Funds - 2.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 19766700 | 19770653 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 10002753 | 10003753 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $29,774,406) |  |  | **29774406** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.8%**<br> (Cost $1,117,021,129)<br>| <br>**1501193050** |
| **NET OTHER ASSETS (LIABILITIES) - (0.8)%**  | **(12592715)** |
| **NET ASSETS - 100.0%** | **1488600335** |

---

**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 $64,811,401 or 4.4% 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 $95,089,485 or 6.4% of net assets.

(c) Non-income producing.

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

(e) 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 $10,619,298 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(f) Level 3 security.

(g) Affiliated company.

(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 lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Eastroc Beverage Group Co Ltd | 8/2/2026 |

---

**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 | 36726745 | 334846751 | 351802830 | 411659 | (13) | - | 19770653 | 19766700 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 11116449 | 46928593 | 48041340 | 30831 | 51 | - | 10003753 | 10002753 | 0.0% |
| Total | 47843194 | 381775344 | 399844170 | 442490 | 38 | - | 29774406 |  |  |

---

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  |
| Deccan Cements Ltd | 8082397 | 237343 | - | - | - | (3318973) | 5000767 | 721239 |
| Total | 8082397 | 237343 | - | - | - | (3318973) | 5000767 |  |

---

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 | 31732091 | 12040413 | 19691678 | - |
| Consumer Discretionary | 173668304 | 65464668 | 108203636 | - |
| Consumer Staples | 110192389 | 24819212 | 85373177 | - |
| Energy | 52821707 | 52821707 | - | - |
| Financials | 267949564 | 152530676 | 115418888 | - |
| Health Care | 90791615 | 31331138 | 59460477 | - |
| Industrials | 365267609 | 131936451 | 233331158 | - |
| Information Technology | 227127853 | - | 227127853 | - |
| Materials | 100414654 | - | 100414654 | - |
| Real Estate | 35836696 | 10659529 | 25177167 | - |
| Utilities | 15616162 | 15616162 | - | - |
|  **Money Market Funds** | 29774406 | 29774406 | - | - |
| **Total Investments in Securities:** | 1501193050 | 526994362 | 974198688 | - |

---

**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 $10,301,513) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,082,279,397) | $1466417877 |  |
| Fidelity Central Funds (cost $29,774,406) | 29774406 |  |
| Other affiliated issuers (cost $4,967,326) | 5000767 |  |
| Total Investment in Securities (cost $1,117,021,129) |  | $1501193050 |
| Foreign currency held at value (cost $407,884) |  | 406768 |
| Receivable for investments sold |  | 422727 |
| Receivable for fund shares sold |  | 2576925 |
| Dividends receivable |  | 3027712 |
| Distributions receivable from Fidelity Central Funds |  | 44109 |
| Prepaid expenses |  | 321 |
| Other receivables |  | 26080 |
| **Total assets** |  | 1507697692 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $265449 |  |
| Payable for fund shares redeemed | 1076828 |  |
| Accrued management fee | 1074583 |  |
| Distribution and service plan fees payable | 15903 |  |
| Deferred taxes | 6587492 |  |
| Other payables and accrued expenses | 73400 |  |
| Collateral on securities loaned | 10003702 |  |
| **Total liabilities** |  | 19097357 |
| **Net Assets**  |  | $1488600335 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $988115843 |
| Total accumulated earnings (loss) |  | 500484492 |
| **Net Assets** |  | $1488600335 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($52,565,410 ÷ 2,349,298 shares)(a) |  | $22.37 |
| Maximum offering price per share (100/94.25 of $22.37) |  | $23.73 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($6,646,480 ÷ 296,934 shares)(a) |  | $22.38 |
| Maximum offering price per share (100/96.50 of $22.38) |  | $23.19 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($3,577,143 ÷ 164,459 shares)(a) |  | $21.75 |
| **Emerging Markets Discovery :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($514,730,559 ÷ 22,781,363 shares) |  | $22.59 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($688,579,029 ÷ 30,438,726 shares) |  | $22.62 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($222,501,714 ÷ 9,854,015 shares) |  | $22.58 |
| *(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  |  | $14945923 |
| Interest  |  | 301 |
| Income from Fidelity Central Funds (including $30,831 from security lending)  |  | 442490 |
| Security lending |  | 54 |
| Income before foreign taxes withheld |  | $15388768 |
| Less foreign taxes withheld |  | (1857450) |
| **Total income** |  | 13531318 |
| **Expenses** |  |  |
| Management fee | $5915647 |  |
| Distribution and service plan fees | 84166 |  |
| Custodian fees and expenses | 150838 |  |
| Independent trustees' fees and expenses | 1975 |  |
| Registration fees | 63117 |  |
| Audit fees | 46247 |  |
| Legal | 645 |  |
| Interest | 1597 |  |
| Miscellaneous | 1776 |  |
| Total expenses before reductions | 6266008 |  |
| Expense reductions | (340) |  |
| Total expenses after reductions |  | 6265668 |
| **Net Investment income (loss)** |  | 7265650 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $1,045,229)  | 140110811 |  |
| Fidelity Central Funds | 38 |  |
| Foreign currency transactions | 145792 |  |
| Total net realized gain (loss) |  | 140256641 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $2,105,766)  | 107406777 |  |
| Affiliated issuers  | (3318973) |  |
| Assets and liabilities in foreign currencies | 111747 |  |
| Total change in net unrealized appreciation (depreciation) |  | 104199551 |
| **Net gain (loss)** |  | 244456192 |
| **Net increase (decrease) in net assets resulting from operations** |  | $251721842 |

---

---

| | | |
|:---|:---|:---|
| **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) | $7265650 | $28603284 |
| &nbsp;&nbsp;Net realized gain (loss) | 140256641<br>| 43358051<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 104199551 | 156633832<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 251721842<br>| 228595167<br>|
| Distributions to shareholders | (55175579)<br>| (42386248)<br>|
| Share transactions - net increase (decrease) | 79896364<br>| (157288820)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 276442627<br>| 28920099<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1212157708 | 1183237609<br>|
| &nbsp;&nbsp;End of period | $1488600335 | $1212157708 |

---

**Financial Highlights** 

**Fidelity Advisor® Emerging Markets Discovery 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  | $19.38 | $16.44 | $14.69 | $12.89 | $18.36 | $13.93 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .38 C | .40 D | .31  | .31  | .11  |
| Net realized and unrealized gain (loss)  | 3.77  | 3.13  | 1.65  | 1.69  | (3.92)  | 4.37  |
| Total from investment operations  | 3.86  | 3.51  | 2.05  | 2.00  | (3.61)  | 4.48  |
| Distributions from net investment income  | (.55)  | (.57)  | (.30)  | (.20)  | (.37)  | (.05)  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.87)  | (.57)  | (.30)  | (.20)  | (1.86)  | (.05)  |
| Net asset value, end of period  | $22.37 | $19.38 | $16.44 | $14.69 | $12.89 | $18.36 |
| **Total Return** E,F,G | 20.79% <br>| 22.20%  | 14.09%  | 15.56%  | (21.58)%  | 32.23%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.23% J | 1.26%  | 1.30%  | 1.43%  | 1.49%  | 1.49%  |
| Expenses net of fee waivers, if any  | 1.23% J<br>| 1.26%  | 1.29%  | 1.42%  | 1.49%  | 1.49%  |
| Expenses net of all reductions, if any  | 1.23% J | 1.26%  | 1.29%  | 1.42%  | 1.49%  | 1.49%  |
| Net investment income (loss)  | .84% J | 2.28% C | 2.45% D | 2.07%  | 2.11%  | .60%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $52565 | $37387 | $30907 | $23373 | $16063 | $18900 |
| Portfolio turnover rate K | 66% J<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.77%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.99%.*

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 sales charges.*

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*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® Emerging Markets Discovery 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  | $19.36 | $16.39 | $14.65 | $12.85 | $18.30 | $13.89 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .06  | .34 C | .36 D | .27  | .27  | .06  |
| Net realized and unrealized gain (loss)  | 3.78  | 3.13  | 1.65  | 1.68  | (3.91)  | 4.36  |
| Total from investment operations  | 3.84  | 3.47  | 2.01  | 1.95  | (3.64)  | 4.42  |
| Distributions from net investment income  | (.50)  | (.50)  | (.27)  | (.15)  | (.32)  | (.01)  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.82)  | (.50)  | (.27)  | (.15)  | (1.81)  | (.01)  |
| Net asset value, end of period  | $22.38 | $19.36 | $16.39 | $14.65 | $12.85 | $18.30 |
| **Total Return** E,F,G | 20.66% <br>| 21.88%  | 13.80%  | 15.25%  | (21.77)%  | 31.82%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.48% J | 1.51%  | 1.50%  | 1.69%  | 1.75%  | 1.76%  |
| Expenses net of fee waivers, if any  | 1.48% J<br>| 1.51%  | 1.50%  | 1.69%  | 1.75%  | 1.76%  |
| Expenses net of all reductions, if any  | 1.48% J | 1.51%  | 1.50%  | 1.68%  | 1.75%  | 1.76%  |
| Net investment income (loss)  | .59% J | 2.03% C | 2.25% D | 1.80%  | 1.85%  | .33%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $6646 | $5640 | $5103 | $6560 | $4355 | $6095 |
| Portfolio turnover rate K | 66% J<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.52%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.78%.*

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 sales charges.*

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*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® Emerging Markets Discovery 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  | $18.77 | $15.92 | $14.23 | $12.47 | $17.78 | $13.55 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .01  | .25 C | .27 D | .19  | .19  | (.03)  |
| Net realized and unrealized gain (loss)  | 3.68  | 3.05  | 1.59  | 1.65  | (3.81)  | 4.26  |
| Total from investment operations  | 3.69  | 3.30  | 1.86  | 1.84  | (3.62)  | 4.23  |
| Distributions from net investment income  | (.39)  | (.45)  | (.17)  | (.08)  | (.20)  | -  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.71)  | (.45)  | (.17)  | (.08)  | (1.69)  | -  |
| Net asset value, end of period  | $21.75 | $18.77 | $15.92 | $14.23 | $12.47 | $17.78 |
| **Total Return** E,F,G | 20.36% <br>| 21.34%  | 13.16%  | 14.76%  | (22.21)%  | 31.22%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.98% J | 2.01%  | 2.02%  | 2.20%  | 2.25%  | 2.25%  |
| Expenses net of fee waivers, if any  | 1.98% J<br>| 2.01%  | 2.02%  | 2.19%  | 2.25%  | 2.25%  |
| Expenses net of all reductions, if any  | 1.98% J | 2.01%  | 2.02%  | 2.19%  | 2.25%  | 2.25%  |
| Net investment income (loss)  | .09% J | 1.53% C | 1.73% D | 1.29%  | 1.35%  | (.16)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3577 | $2914 | $3146 | $3300 | $3079 | $4995 |
| Portfolio turnover rate K | 66% J<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.02%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.07 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.26%.*

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*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® Emerging Markets Discovery 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  | $19.56 | $16.57 | $14.80 | $12.98 | $18.48 | $14.02 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .44 C | .45 D | .35  | .36  | .16  |
| Net realized and unrealized gain (loss)  | 3.80  | 3.16  | 1.66  | 1.71  | (3.95)  | 4.40  |
| Total from investment operations  | 3.92  | 3.60  | 2.11  | 2.06  | (3.59)  | 4.56  |
| Distributions from net investment income  | (.57)  | (.61)  | (.34)  | (.24)  | (.42)  | (.10)  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.89)  | (.61)  | (.34)  | (.24)  | (1.91)  | (.10)  |
| Net asset value, end of period  | $22.59 | $19.56 | $16.57 | $14.80 | $12.98 | $18.48 |
| **Total Return** E,F | 20.95% <br>| 22.59%  | 14.38%  | 15.94%  | (21.37)%  | 32.63%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .93% I | .97%  | 1.01%  | 1.15%  | 1.19%  | 1.19%  |
| Expenses net of fee waivers, if any  | .93% I<br>| .97%  | 1.00%  | 1.15%  | 1.19%  | 1.18%  |
| Expenses net of all reductions, if any  | .93% I | .97%  | 1.00%  | 1.15%  | 1.19%  | 1.18%  |
| Net investment income (loss)  | 1.14% I | 2.58% C | 2.74% D | 2.34%  | 2.41%  | .90%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $514731 | $391209 | $411220 | $368811 | $248805 | $283133 |
| Portfolio turnover rate J | 66% I<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.07%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.28%.*

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*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® Emerging Markets Discovery 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  | $19.60 | $16.61 | $14.85 | $13.03 | $18.54 | $14.06 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .11  | .43 C | .45 D | .36  | .34  | .16  |
| Net realized and unrealized gain (loss)  | 3.81  | 3.17  | 1.66  | 1.71  | (3.95)  | 4.41  |
| Total from investment operations  | 3.92  | 3.60  | 2.11  | 2.07  | (3.61)  | 4.57  |
| Distributions from net investment income  | (.58)  | (.61)  | (.35)  | (.25)  | (.41)  | (.09)  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.90)  | (.61)  | (.35)  | (.25)  | (1.90)  | (.09)  |
| Net asset value, end of period  | $22.62 | $19.60 | $16.61 | $14.85 | $13.03 | $18.54 |
| **Total Return** E,F | 20.92% <br>| 22.58%  | 14.34%  | 15.99%  | (21.37)%  | 32.62%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .98% I | 1.01%  | 1.04%  | 1.12%  | 1.17%  | 1.19%  |
| Expenses net of fee waivers, if any  | .98% I<br>| 1.01%  | 1.04%  | 1.11%  | 1.16%  | 1.19%  |
| Expenses net of all reductions, if any  | .98% I | 1.01%  | 1.04%  | 1.11%  | 1.16%  | 1.19%  |
| Net investment income (loss)  | 1.09% I | 2.53% C | 2.71% D | 2.37%  | 2.44%  | .90%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $688579 | $618101 | $553444 | $404844 | $129250 | $27397 |
| Portfolio turnover rate J | 66% I<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.02%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.24%.*

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*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® Emerging Markets Discovery 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  | $19.58 | $16.59 | $14.82 | $13.00 | $18.51 | $14.04 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .45 C | .46 D | .38  | .37  | .19  |
| Net realized and unrealized gain (loss)  | 3.82  | 3.16  | 1.67  | 1.70  | (3.95)  | 4.40  |
| Total from investment operations  | 3.94  | 3.61  | 2.13  | 2.08  | (3.58)  | 4.59  |
| Distributions from net investment income  | (.62)  | (.62)  | (.36)  | (.26)  | (.44)  | (.12)  |
| Distributions from net realized gain  | (.32)  | -  | -  | -  | (1.49)  | -  |
| Total distributions  | (.94)  | (.62)  | (.36)  | (.26)  | (1.93)  | (.12)  |
| Net asset value, end of period  | $22.58 | $19.58 | $16.59 | $14.82 | $13.00 | $18.51 |
| **Total Return** E,F | 21.04% <br>| 22.66%  | 14.54%  | 16.10%  | (21.27)%  | 32.82%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .85% I | .89%  | .93%  | .99%  | 1.03%  | 1.05%  |
| Expenses net of fee waivers, if any  | .85% I<br>| .89%  | .92%  | .98%  | 1.03%  | 1.05%  |
| Expenses net of all reductions, if any  | .85% I | .89%  | .92%  | .98%  | 1.03%  | 1.05%  |
| Net investment income (loss)  | 1.21% I | 2.65% C | 2.82% D | 2.50%  | 2.57%  | 1.04%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $222502 | $156907 | $179418 | $122312 | $29546 | $16365 |
| Portfolio turnover rate J | 66% I<br>| 38%  | 29%  | 30%  | 33%  | 64%  |

---

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 $.09 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.14%.*

D*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.08 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 2.35%.*

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*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 Emerging Markets Discovery 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, Emerging Markets Discovery, 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. 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.

**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 Deferred taxes 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), 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** | $462406812 |
| **Gross unrealized depreciation** | <u>(93910878)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$368495934</u> |
| **Tax cost** | <u>$1132697116</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 Emerging Markets Discovery Fund** | 464730348 | 432032748 |

---

**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** | 1.02 |
| **Class M** | 1.02 |
| **Class C** | 1.02 |
| **Emerging Markets Discovery** | 1.00 |
| **Class I** | 1.01 |
| **Class Z** | .88 |

---

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** | .94 |
| **Class M** | .94 |
| **Class C** | .94 |
| **Emerging Markets Discovery** | .89 |
| **Class I** | .94 |
| **Class Z** | .81 |

---

**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% | 53187 | 4681 |
| **Class M** | .25% | .25% | 15228 | 217 |
| **Class C** | .75% | .25% | <u>15751</u> | <u>3809</u> |
|  |  |  | <u>84166</u> | <u>8707</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** | 13469 |
| **Class M** | 760 |
| **Class C**A | <u>5</u> |
|  | <u>14234</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 Emerging Markets Discovery Fund** | 571 |

---

**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 Emerging Markets Discovery Fund**  | Borrower | 14802000 | 3.89% | 1597 |

---

**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 Emerging Markets Discovery Fund** | 2645861 | 5534850 | 1868734 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Emerging Markets Discovery Fund** | 2240 |

---

**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 Emerging Markets Discovery Fund** | 810 |

---

**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 Emerging Markets Discovery Fund** | 3349 | - | - |

---

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 Emerging Markets Discovery Fund** | 984417 |

---

**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 $340.

**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 Emerging Markets Discovery Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $1672782 | $1053053 |
| Class M | 232284 | 149825 |
| Class C | 105359 | 88170 |
| Emerging Markets Discovery | 17967768 | 14364018 |
| Class I | 27285863 | 20784903 |
| Class Z | <u>7911523</u> | <u>5946279</u> |
| Total  | <u>$55175579</u> | <u>$42386248</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 Emerging Markets Discovery Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 507799 | 494809 | $10543469 | $8554982 |
| Reinvestment of distributions  | 89272 | 67073 | 1671165 | 1051706 |
| Shares redeemed | <u>(176651)</u> | <u>(513147)</u> | <u>(3553515)</u> | <u>(8620404)</u> |
| Net increase (decrease) | <u>420420</u> | <u>48735</u> | <u>$8661119</u> | <u>$986284</u> |
| **Class M** |  |  |  |  |
| Shares sold | 37465 | 50826 | $773987 | $889120 |
| Reinvestment of distributions  | 12389 | 9543 | 232284 | 149825 |
| Shares redeemed | <u>(44181)</u> | <u>(80500)</u> | <u>(912547)</u> | <u>(1312811)</u> |
| Net increase (decrease) | <u>5673</u> | <u>(20131)</u> | <u>$93724</u> | <u>$(273866)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 38790 | 43111 | $765355 | $704743 |
| Reinvestment of distributions  | 5772 | 5770 | 105346 | 88170 |
| Shares redeemed | <u>(35335)</u> | <u>(91183)</u> | <u>(691370)</u> | <u>(1476342)</u> |
| Net increase (decrease) | <u>9227</u> | <u>(42302)</u> | <u>$179331</u> | <u>$(683429)</u> |
| **Emerging Markets Discovery** |  |  |  |  |
| Shares sold | 5009964 | 9528326 | $104192869 | $166306083 |
| Reinvestment of distributions  | 836891 | 813454 | 15808870 | 12836304 |
| Shares redeemed | <u>(3067330)</u> | <u>(15157698)</u> | <u>(62880319)</u> | <u>(268423880)</u> |
| Net increase (decrease) | <u>2779525</u> | <u>(4815918)</u> | <u>$57121420</u> | <u>$(89281493)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 4748453 | 16832146 | $97585387 | $282957961 |
| Reinvestment of distributions  | 1360102 | 1255207 | 25719520 | 19844830 |
| Shares redeemed | <u>(7212131)</u> | <u>(19859892)</u> | <u>(147495552)</u> | <u>(326981696)</u> |
| Net increase (decrease) | <u>(1103576)</u> | <u>(1772539)</u> | <u>$(24190645)</u> | <u>$(24178905)</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 3107440 | 2649090 | $64457505 | $43915046 |
| Reinvestment of distributions  | 346671 | 327837 | 6541685 | 5176545 |
| Shares redeemed | <u>(1613221)</u> | <u>(5779539)</u> | <u>(32967775)</u> | <u>(92949002)</u> |
| Net increase (decrease) | <u>1840890</u> | <u>(2802612)</u> | <u>$38031415</u> | <u>$(43857411)</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.

![](img131287_4.jpg)<br>

1.931240.114 EMD-TEK-SANN-0626

**Fidelity® Diversified International K6 Fund**

**Semi-Annual Report**

**April 30, 2026**

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**Contents**

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| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_DIFK6-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Diversified International K6 Fund](#Sub_Sec_Fund_2947_DIFK6-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements2947_DIFK6-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_DIFK6-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_DIFK6-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_DIFK6-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_DIFK6-SANN)** |

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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 1-800-835-5092 to request a free copy of the proxy voting guidelines.

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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® Diversified International K6 Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.0%** | &nbsp;&nbsp;**Common Stocks - 96.0%** | &nbsp;&nbsp;**Common Stocks - 96.0%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Aristocrat Leisure Ltd  | 518584 | 17842137 |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Steadfast Group Ltd  | 839072 | 2580845 |
| Suncorp Group Ltd  | 452843 | 5635352 |
| TOTAL FINANCIALS |  | 8216197 |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| Rio Tinto PLC  | 400914 | 40386706 |
| TOTAL AUSTRALIA |  | 66445040 |
| BELGIUM - 2.0%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| KBC Group NV  | 502773 | 66826507 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Financiere de Tubize SA  | 21800 | 5007096 |
| UCB SA (b) | 115796 | 31420999 |
| TOTAL HEALTH CARE |  | 36428095 |
| TOTAL BELGIUM |  | 103254602 |
| BRAZIL - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (b) | 848100 | 12280488 |
| CANADA - 3.7%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Broadline Retail - 0.5% |  |  |
| Dollarama Inc  | 219094 | 28000676 |
| Energy - 2.2% |  |  |
| Oil, Gas & Consumable Fuels - 2.2% |  |  |
| Cameco Corp  | 64479 | 7926310 |
| Canadian Natural Resources Ltd  | 1029641 | 49149278 |
| Imperial Oil Ltd (a) | 409810 | 54896771 |
| TOTAL ENERGY |  | 111972359 |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Franco-Nevada Corp  | 217883 | 50266997 |
| G Mining Ventures Corp (b) | 68400 | 2370723 |
| TOTAL MATERIALS |  | 52637720 |
| TOTAL CANADA |  | 192610755 |
| CHILE - 1.0%  |  |  |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Antofagasta PLC  | 1118165 | 54007169 |
| CHINA - 1.0%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Broadline Retail - 0.6% |  |  |
| Prosus NV Class N  | 614769 | 29762819 |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Airtac International Group  | 509000 | 23840792 |
| TOTAL CHINA |  | 53603611 |
| DENMARK - 1.8%  |  |  |
| Industrials - 1.7% |  |  |
| Air Freight & Logistics - 1.5% |  |  |
| DSV A/S  | 319782 | 78273678 |
| Electrical Equipment - 0.2% |  |  |
| Vestas Wind Systems A/S  | 254600 | 7828798 |
| TOTAL INDUSTRIALS |  | 86102476 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Novonesis Novozymes B Series B  | 146574 | 9006353 |
| TOTAL DENMARK |  | 95108829 |
| FINLAND - 0.8%  |  |  |
| Information Technology - 0.8% |  |  |
| Communications Equipment - 0.8% |  |  |
| Nokia Oyj  | 3335018 | 41509496 |
| FRANCE - 4.8%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Orange SA  | 1316549 | 27413646 |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 38466 | 20378733 |
| Consumer Staples - 0.6% |  |  |
| Food Products - 0.3% |  |  |
| Danone SA  | 199960 | 15666477 |
| Personal Care Products - 0.3% |  |  |
| L'Oreal SA  | 30073 | 12919799 |
| TOTAL CONSUMER STAPLES |  | 28586276 |
| Energy - 0.1% |  |  |
| Oil, Gas & Consumable Fuels - 0.1% |  |  |
| Gaztransport Et Technigaz SA  | 10900 | 2648107 |
| Financials - 0.3% |  |  |
| Capital Markets - 0.3% |  |  |
| Amundi SA (d)(e) | 140032 | 13509451 |
| Industrials - 1.5% |  |  |
| Aerospace & Defense - 1.1% |  |  |
| Airbus SE  | 25023 | 5158729 |
| Safran SA  | 163468 | 52491671 |
|  |  | 57650400 |
| Electrical Equipment - 0.4% |  |  |
| Legrand SA  | 119108 | 21339821 |
| TOTAL INDUSTRIALS |  | 78990221 |
| Materials - 1.1% |  |  |
| Chemicals - 1.1% |  |  |
| Air Liquide SA  | 269837 | 58052843 |
| Utilities - 0.3% |  |  |
| Multi-Utilities - 0.3% |  |  |
| Veolia Environnement SA  | 392500 | 16598513 |
| TOTAL FRANCE |  | 246177790 |
| GERMANY - 8.4%  |  |  |
| Financials - 3.6% |  |  |
| Capital Markets - 0.9% |  |  |
| Deutsche Boerse AG  | 147370 | 45212805 |
| Insurance - 2.7% |  |  |
| Allianz SE  | 181077 | 82703754 |
| Hannover Rueck SE  | 72059 | 21785759 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 56249 | 33721299 |
|  |  | 138210812 |
| TOTAL FINANCIALS |  | 183423617 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.6% |  |  |
| Fresenius SE & Co KGaA  | 681084 | 32984633 |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Rheinmetall AG  | 17207 | 27380375 |
| Electrical Equipment - 1.9% |  |  |
| Siemens Energy AG  | 455732 | 96586800 |
| Industrial Conglomerates - 0.8% |  |  |
| Siemens AG  | 133253 | 39597618 |
| TOTAL INDUSTRIALS |  | 163564793 |
| Information Technology - 0.5% |  |  |
| Software - 0.5% |  |  |
| SAP SE  | 152389 | 25585076 |
| Materials - 0.5% |  |  |
| Construction Materials - 0.5% |  |  |
| Heidelberg Materials AG  | 127701 | 28176366 |
| TOTAL GERMANY |  | 433734485 |
| HONG KONG - 1.9%  |  |  |
| Financials - 1.9% |  |  |
| Insurance - 1.9% |  |  |
| AIA Group Ltd  | 5736046 | 62974729 |
| Prudential PLC  | 2248367 | 33881876 |
| Prudential PLC rights (b)(c) | 2248367 | 426495 |
| TOTAL HONG KONG |  | 97283100 |
| IRELAND - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Building Products - 1.0% |  |  |
| Kingspan Group PLC  | 550153 | 50783288 |
| ISRAEL - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (b) | 292937 | 10273301 |
| ITALY - 4.4%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Lottomatica Group Spa  | 553870 | 16303242 |
| Consumer Staples - 1.0% |  |  |
| Beverages - 1.0% |  |  |
| Coca-Cola HBC AG  | 916744 | 53391262 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| FinecoBank Banca Fineco SpA  | 1169911 | 28944232 |
| Intesa Sanpaolo SpA  | 6189479 | 42052760 |
| UniCredit SpA  | 503244 | 38891897 |
| TOTAL FINANCIALS |  | 109888889 |
| Industrials - 0.9% |  |  |
| Electrical Equipment - 0.3% |  |  |
| Prysmian SpA  | 111200 | 16914545 |
| Machinery - 0.2% |  |  |
| Interpump Group SpA  | 185907 | 7806829 |
| Passenger Airlines - 0.4% |  |  |
| Ryanair Holdings PLC ADR  | 396024 | 21642712 |
| TOTAL INDUSTRIALS |  | 46364086 |
| TOTAL ITALY |  | 225947479 |
| JAPAN - 20.1%  |  |  |
| Consumer Discretionary - 1.9% |  |  |
| Automobiles - 0.4% |  |  |
| Toyota Motor Corp  | 1137089 | 21826898 |
| Household Durables - 0.9% |  |  |
| Panasonic Holdings Corp  | 2240086 | 45822774 |
| Specialty Retail - 0.6% |  |  |
| Fast Retailing Co Ltd  | 61136 | 28779487 |
| TOTAL CONSUMER DISCRETIONARY |  | 96429159 |
| Financials - 3.2% |  |  |
| Banks - 1.9% |  |  |
| Mizuho Financial Group Inc  | 418500 | 17996636 |
| Sumitomo Mitsui Financial Group Inc  | 2236782 | 78978657 |
|  |  | 96975293 |
| Financial Services - 0.8% |  |  |
| ORIX Corp  | 1171119 | 39415756 |
| Insurance - 0.5% |  |  |
| Tokio Marine Holdings Inc  | 612207 | 28037104 |
| TOTAL FINANCIALS |  | 164428153 |
| Health Care - 2.1% |  |  |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Hoya Corp  | 410474 | 76653476 |
| Pharmaceuticals - 0.6% |  |  |
| Chugai Pharmaceutical Co Ltd  | 314137 | 16752738 |
| Takeda Pharmaceutical Co Ltd  | 417115 | 13945320 |
|  |  | 30698058 |
| TOTAL HEALTH CARE |  | 107351534 |
| Industrials - 7.9% |  |  |
| Building Products - 0.3% |  |  |
| Daikin Industries Ltd  | 94936 | 13414000 |
| Electrical Equipment - 0.3% |  |  |
| Fujikura Ltd  | 245000 | 9452835 |
| Furukawa Electric Co Ltd  | 30100 | 8174765 |
|  |  | 17627600 |
| Industrial Conglomerates - 1.5% |  |  |
| Hitachi Ltd  | 2446620 | 77798477 |
| Machinery - 3.1% |  |  |
| Ebara Corp  | 1149779 | 39331538 |
| Japan Steel Works Ltd/The  | 156139 | 9541758 |
| Kawasaki Heavy Industries Ltd  | 1570000 | 32276708 |
| Mitsubishi Heavy Industries Ltd  | 2458939 | 73389243 |
|  |  | 154539247 |
| Trading Companies & Distributors - 2.7% |  |  |
| ITOCHU Corp  | 5471775 | 67812309 |
| Marubeni Corp  | 754913 | 29382044 |
| Sumitomo Corp  | 553842 | 20593067 |
| Toyota Tsusho Corp  | 538023 | 21120525 |
|  |  | 138907945 |
| TOTAL INDUSTRIALS |  | 402287269 |
| Information Technology - 4.0% |  |  |
| Semiconductors & Semiconductor Equipment - 4.0% |  |  |
| Advantest Corp  | 396399 | 74015054 |
| Disco Corp  | 13446 | 6397371 |
| Kioxia Holdings Corp (b) | 2300 | 556505 |
| Lasertec Corp  | 55200 | 15256089 |
| Renesas Electronics Corp  | 3901660 | 78901897 |
| Rohm Co Ltd  | 889000 | 19233479 |
| Tokyo Electron Ltd  | 40443 | 11917858 |
| TOTAL INFORMATION TECHNOLOGY |  | 206278253 |
| Materials - 1.0% |  |  |
| Chemicals - 1.0% |  |  |
| Nissan Chemical Corp (a) | 343916 | 14870770 |
| Shin-Etsu Chemical Co Ltd  | 798464 | 36763040 |
| TOTAL MATERIALS |  | 51633810 |
| TOTAL JAPAN |  | 1028408178 |
| KOREA (SOUTH) - 3.2%  |  |  |
| Information Technology - 3.2% |  |  |
| Semiconductors & Semiconductor Equipment - 1.8% |  |  |
| SK Hynix Inc  | 101490 | 91086564 |
| Technology Hardware, Storage & Peripherals - 1.4% |  |  |
| Samsung Electronics Co Ltd  | 471210 | 71413910 |
| TOTAL KOREA (SOUTH) |  | 162500474 |
| MEXICO - 0.2%  |  |  |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| Cemex SAB de CV ADR  | 1024143 | 12596959 |
| NETHERLANDS - 4.2%  |  |  |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.2% |  |  |
| Argenx SE (b) | 12397 | 9722073 |
| Industrials - 0.1% |  |  |
| Professional Services - 0.1% |  |  |
| Wolters Kluwer NV  | 63663 | 4968609 |
| Information Technology - 3.9% |  |  |
| Semiconductors & Semiconductor Equipment - 3.9% |  |  |
| ASM International NV  | 18137 | 17680559 |
| ASML Holding NV depository receipt  | 116918 | 168243833 |
| BE Semiconductor Industries NV  | 48822 | 14164545 |
| TOTAL INFORMATION TECHNOLOGY |  | 200088937 |
| TOTAL NETHERLANDS |  | 214779619 |
| POLAND - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.1% |  |  |
| Allegro.eu SA (b)(d)(e) | 476400 | 3909323 |
| SINGAPORE - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| DBS Group Holdings Ltd  | 1210187 | 55802530 |
| SPAIN - 5.0%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Specialty Retail - 0.3% |  |  |
| Industria de Diseno Textil SA (a) | 281416 | 16705759 |
| Financials - 4.2% |  |  |
| Banks - 4.2% |  |  |
| Banco Santander SA  | 10321145 | 125737216 |
| CaixaBank SA  | 6994260 | 89025420 |
| TOTAL FINANCIALS |  | 214762636 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Iberdrola SA  | 1069688 | 25078011 |
| TOTAL SPAIN |  | 256546406 |
| SWEDEN - 2.6%  |  |  |
| Financials - 1.2% |  |  |
| Financial Services - 1.2% |  |  |
| Investor AB B Shares  | 1499458 | 60415193 |
| Industrials - 1.3% |  |  |
| Building Products - 0.5% |  |  |
| Assa Abloy AB B Shares  | 654930 | 24926745 |
| Machinery - 0.8% |  |  |
| Atlas Copco AB A Shares  | 1203373 | 22704782 |
| Epiroc AB A Shares  | 310406 | 8961238 |
| Indutrade AB  | 367637 | 7852267 |
|  |  | 39518287 |
| TOTAL INDUSTRIALS |  | 64445032 |
| Information Technology - 0.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Hexagon AB B Shares  | 938872 | 10091648 |
| Software - 0.0% |  |  |
| Kry International Ab (b)(f)(g) | 30819 | 245237 |
| TOTAL INFORMATION TECHNOLOGY |  | 10336885 |
| TOTAL SWEDEN |  | 135197110 |
| SWITZERLAND - 1.5%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Textiles, Apparel & Luxury Goods - 0.7% |  |  |
| Cie Financiere Richemont SA Series A  | 194490 | 37326015 |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Zurich Insurance Group AG  | 59569 | 41532716 |
| TOTAL SWITZERLAND |  | 78858731 |
| TAIWAN - 2.6%  |  |  |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Bizlink Holding Inc  | 56000 | 5044417 |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 74000 | 5153565 |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 309404 | 122542548 |
| TOTAL INFORMATION TECHNOLOGY |  | 127696113 |
| TOTAL TAIWAN |  | 132740530 |
| UNITED KINGDOM - 15.0%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Zegona Communications plc  | 272290 | 6528538 |
| Consumer Discretionary - 0.9% |  |  |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 1205199 | 34046872 |
| Leisure Products - 0.2% |  |  |
| Games Workshop Group PLC  | 45039 | 11944801 |
| TOTAL CONSUMER DISCRETIONARY |  | 45991673 |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| British American Tobacco PLC  | 1212065 | 71384362 |
| Financials - 5.7% |  |  |
| Banks - 4.7% |  |  |
| HSBC Holdings PLC  | 1542747 | 28386276 |
| Lloyds Banking Group PLC  | 69587952 | 94591117 |
| NatWest Group PLC  | 10102911 | 80579576 |
| Standard Chartered PLC  | 1065272 | 27126970 |
| Starling Bank Ltd (f)(g) | 2406800 | 7172366 |
|  |  | 237856305 |
| Capital Markets - 0.8% |  |  |
| 3i Group PLC  | 724917 | 25210989 |
| London Stock Exchange Group PLC  | 125552 | 16315686 |
|  |  | 41526675 |
| Insurance - 0.2% |  |  |
| Admiral Group PLC  | 209795 | 9643465 |
| TOTAL FINANCIALS |  | 289026445 |
| Health Care - 2.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Convatec Group PLC (d)(e) | 4018578 | 11524580 |
| Pharmaceuticals - 2.2% |  |  |
| Astrazeneca PLC  | 425926 | 80839651 |
| GSK PLC  | 1214890 | 31851348 |
|  |  | 112690999 |
| TOTAL HEALTH CARE |  | 124215579 |
| Industrials - 3.1% |  |  |
| Aerospace & Defense - 3.0% |  |  |
| BAE Systems PLC  | 1743152 | 48483264 |
| Rolls-Royce Holdings PLC  | 6496386 | 104536986 |
|  |  | 153020250 |
| Trading Companies & Distributors - 0.1% |  |  |
| RS GROUP PLC  | 1072290 | 8783894 |
| TOTAL INDUSTRIALS |  | 161804144 |
| Utilities - 1.4% |  |  |
| Electric Utilities - 1.0% |  |  |
| SSE PLC  | 1431378 | 51249609 |
| Multi-Utilities - 0.4% |  |  |
| National Grid PLC  | 1126500 | 20165007 |
| TOTAL UTILITIES |  | 71414616 |
| TOTAL UNITED KINGDOM |  | 770365357 |
| UNITED STATES - 7.9%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Hotels, Restaurants & Leisure - 0.8% |  |  |
| InterContinental Hotels Group PLC  | 287897 | 41198061 |
| Energy - 1.9% |  |  |
| Oil, Gas & Consumable Fuels - 1.9% |  |  |
| Shell PLC  | 2166855 | 98519977 |
| Health Care - 1.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Alcon AG  | 133765 | 9967106 |
| Pharmaceuticals - 1.2% |  |  |
| Roche Holding AG  | 140303 | 57173450 |
| Viatris Inc  | 179900 | 2687706 |
|  |  | 59861156 |
| TOTAL HEALTH CARE |  | 69828262 |
| Industrials - 2.1% |  |  |
| Electrical Equipment - 1.8% |  |  |
| Schneider Electric SE  | 298932 | 95122800 |
| Trading Companies & Distributors - 0.3% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 53414 | 14107789 |
| TOTAL INDUSTRIALS |  | 109230589 |
| Materials - 1.7% |  |  |
| Chemicals - 0.1% |  |  |
| Linde PLC  | 16677 | 8357512 |
| Construction Materials - 1.6% |  |  |
| CRH PLC  | 509040 | 60280517 |
| Holcim AG  | 220070 | 20450319 |
|  |  | 80730836 |
| TOTAL MATERIALS |  | 89088348 |
| TOTAL UNITED STATES |  | 407865237 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $3,144,612,027) |  | <br> **4942589887** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.5%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Valsoft Corp Series A-1.2 (b)(f)(g) | 231 | 2058702 |
| Valsoft Corp Series A-1.3 (b)(f)(g) | 82 | 730794 |
| Valsoft Corp Series A-1.4 (b)(f)(g) | 105 | 935774 |
| TOTAL CANADA |  | 3725270 |
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (b)(f)(g) | 21668 | 4497664 |
| UNITED STATES - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Wasabi Holdings Inc Series C (b)(f)(g) | 743562 | 9391189 |
| Wasabi Holdings Inc Series D (b)(f)(g) | 304085 | 5756329 |
| Wasabi Holdings Inc Series D1 (f)(g) | 47437 | 862405 |
| TOTAL UNITED STATES |  | 16009923 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $23,826,674) |  | <br> **24232857** |

---

---

| | | |
|:---|:---|:---|
| &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>|
| GERMANY - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Life Sciences Tools & Services - 0.2% |  |  |
| Sartorius AG <br>(Cost $17,915,686)<br>| 60048 | **15307242** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 (h) | 3.69 | 142387514 | 142415992 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 11659411 | 11660577 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $154,075,946) |  |  | **154076569** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.7%**<br> (Cost $3,340,430,333)<br>| <br>**5136206555** |
| **NET OTHER ASSETS (LIABILITIES) - 0.3%**  | **13041490** |
| **NET ASSETS - 100.0%** | **5149248045** |

---

**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 $28,943,354 or 0.6% 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 $28,943,354 or 0.6% of net assets.

(f) 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 $31,650,460 or 0.6% of net assets.

(g) Level 3 security.

(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>|
| Bolt Technology OU Series E | 1/3/2022 | 5629271 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 2038126 |
| Starling Bank Ltd | 6/18/2021 - 4/5/2022 | 4642638 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 2705867 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 814003 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 1381954 |
| Wasabi Holdings Inc Series C | 3/31/2021 | 8078504 |
| Wasabi Holdings Inc Series D | 9/9/2022 | 4319984 |
| Wasabi Holdings Inc Series D1 | 11/14/2025 | 897091 |

---

**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 | 81438649 | 587639005 | 526646076 | 2698280 | (15587) | 1 | 142415992 | 142387514 | 0.2% |
| Fidelity Securities Lending Cash Central Fund | 10071813 | 202173469 | 200583616 | 35135 | (1089) | - | 11660577 | 11659411 | 0.0% |
| Total | 91510462 | 789812474 | 727229692 | 2733415 | (16676) | 1 | 154076569 |  |  |

---

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 | 33942184 | 6528538 | 27413646 | - |
| Consumer Discretionary | 353847597 | 172487467 | 181360130 | - |
| Consumer Staples | 153361900 | 66311061 | 87050839 | - |
| Energy | 213140443 | 114620466 | 98519977 | - |
| Financials | 1317395922 | 389605791 | 920617765 | 7172366 |
| Health Care | 390803477 | 197369309 | 193434168 | - |
| Industrials | 1197425716 | 360849159 | 836576557 | - |
| Information Technology | 773995234 | 374232629 | 399517368 | 245237 |
| Materials | 395586274 | 187879877 | 207706397 | - |
| Utilities | 113091140 | - | 113091140 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 24232857 | - | - | 24232857 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Health Care | 15307242 | 15307242 | - | - |
|  **Money Market Funds** | 154076569 | 154076569 | - | - |
| **Total Investments in Securities:** | 5136206555 | 2039268108 | 3065287987 | 31650460 |

---

**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 $11,130,317) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $3,186,354,387) | $4982129986 |  |
| Fidelity Central Funds (cost $154,075,946) | 154076569 |  |
| Total Investment in Securities (cost $3,340,430,333) |  | $5136206555 |
| Foreign currency held at value (cost $1,439,366) |  | 1439366 |
| Receivable for investments sold |  | 7055529 |
| Receivable for fund shares sold |  | 2266827 |
| Dividends receivable |  | 20936252 |
| Reclaims receivable |  | 14242307 |
| Distributions receivable from Fidelity Central Funds |  | 514087 |
| Other receivables |  | 231907 |
| **Total assets** |  | 5182892830 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $14998326 |  |
| Delayed delivery | 432987 |  |
| Payable for fund shares redeemed | 4017432 |  |
| Accrued management fee | 2532713 |  |
| Other payables and accrued expenses | 1661 |  |
| Collateral on securities loaned | 11661666 |  |
| **Total liabilities** |  | 33644785 |
| **Net Assets**  |  | $5149248045 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $3077926467 |
| Total accumulated earnings (loss) |  | 2071321578 |
| **Net Assets** |  | $5149248045 |
| **Net Asset Value**, offering price and redemption price per share ($5,149,248,045 ÷ 270,330,983 shares) |  | $19.05 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $51410705 |
| Interest  |  | 2686 |
| Income from Fidelity Central Funds (including $35,135 from security lending)  |  | 2733415 |
| Income before foreign taxes withheld |  | $54146806 |
| Less foreign taxes withheld |  | (4005757) |
| **Total income** |  | 50141049 |
| **Expenses** |  |  |
| Management fee | $14848044 |  |
| Independent trustees' fees and expenses | 7684 |  |
| Total expenses before reductions | 14855728 |  |
| Expense reductions | (268) |  |
| Total expenses after reductions |  | 14855460 |
| **Net Investment income (loss)** |  | 35285589 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $5,251,705)  | 252669180 |  |
| Redemptions in-kind | 47290537 |  |
| Fidelity Central Funds | (16676) |  |
| Foreign currency transactions | 171490 |  |
| Total net realized gain (loss) |  | 300114531 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $5,666,365)  | 147228563 |  |
| Fidelity Central Funds  | 1 |  |
| Assets and liabilities in foreign currencies | 673739 |  |
| Total change in net unrealized appreciation (depreciation) |  | 147902303 |
| **Net gain (loss)** |  | 448016834 |
| **Net increase (decrease) in net assets resulting from operations** |  | $483302423 |

---

---

| | | |
|:---|:---|:---|
| **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) | $35285589 | $65749329 |
| &nbsp;&nbsp;Net realized gain (loss) | 300114531<br>| 539073345<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 147902303 | 303182115<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 483302423<br>| 908004789<br>|
| Distributions to shareholders | (103932307)<br>| (98522166)<br>|
| Share transactions |  |  |
| &nbsp;&nbsp;Proceeds from sales of shares | 563605477 | 856276214 |
| Reinvestment of distributions | 103388501<br>| 98517898<br>|
| &nbsp;&nbsp;Cost of shares redeemed | (704293171) | (1789042675) |
| **Net increase (decrease) in net assets resulting from share transactions** | (37299193)<br>| (834248563)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 342070923<br>| (24765940)<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 4807177122 | 4831943062<br>|
| &nbsp;&nbsp;End of period | $5149248045 | $4807177122 |
| **Other Information** |  |  |
| Shares |  |  |
| &nbsp;&nbsp;Sold | 31319622 | 54606412 |
| Issued in reinvestment of distributions | 5931641<br>| 6724771<br>|
| &nbsp;&nbsp;Redeemed | (38712712) | (114694506) |
| &nbsp;&nbsp;Net increase (decrease) | (1461449) | (53363323) |

---

**Financial Highlights** 

**Fidelity® Diversified International K6 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  | $17.69 | $14.86 | $12.11 | $10.89 | $15.45 | $11.96 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .22  | .20  | .20  | .15  | .10  |
| Net realized and unrealized gain (loss)  | 1.62  | 2.92  | 2.76  | 1.12  | (4.56)  | 3.47  |
| Total from investment operations  | 1.75  | 3.14  | 2.96  | 1.32  | (4.41)  | 3.57  |
| Distributions from net investment income  | (.34)  | (.31)  | (.21)  | (.10)  | (.15)  | (.08)  |
| Distributions from net realized gain  | (.05)  | -  | -  | -  | -  | -  |
| Total distributions  | (.39)  | (.31)  | (.21)  | (.10)  | (.15)  | (.08)  |
| Net asset value, end of period  | $19.05 | $17.69 | $14.86 | $12.11 | $10.89 | $15.45 |
| **Total Return** C,D | 10.10% <br>| 21.60%  | 24.70%  | 12.12%  | (28.81)%  | 30.00%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .60% G | .60%  | .60%  | .60%  | .60%  | .60%  |
| Expenses net of fee waivers, if any  | .60% G<br>| .60%  | .60%  | .60%  | .60%  | .60%  |
| Expenses net of all reductions, if any  | .60% G | .60%  | .60%  | .60%  | .60%  | .60%  |
| Net investment income (loss)  | 1.43% G | 1.41%  | 1.40%  | 1.57%  | 1.21%  | .73%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $5149248 | $4807177 | $4831943 | $3991608 | $3483417 | $3961936 |
| Portfolio turnover rate H,I | 51% G<br>| 45%  | 37%  | 25%  | 31%  | 30%  |

---

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

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 Diversified International K6 Fund (the Fund) is a 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. Shares generally are available only to employer-sponsored retirement plans that are recordkept by Fidelity, or to certain employer-sponsored retirement plans that are not recordkept by Fidelity.

**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. 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. 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** | $1792973506 |
| **Gross unrealized depreciation** | <u>(48107654)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$1744865852</u> |
| **Tax cost** | <u>$3391340703</u> |

---

**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 Diversified International K6 Fund** | 1224906136 | 1266764819 |

---

**Unaffiliated Redemptions In-Kind.** Unaffiliated 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 Diversified International K6 Fund** | 6083671 | - | 47290537 | 47290537 | 109254387 |

---

**Prior Fiscal Year Unaffiliated Redemptions In-Kind.** Unaffiliated shareholders that redeemed shares 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 Diversified International K6 Fund** | 32167307 | - | 198398126 | 198398126 | 487697412 |

---

**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 .60% of average net assets. 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.

**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 Diversified International K6 Fund** | 3604 |

---

**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 Diversified International K6 Fund** | 50123392 | 56996421 | 16988892 |

---

**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 Diversified International K6 Fund** | 3838 | - | - |

---

**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 $268.

**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.

![](img131288_4.jpg)<br>

1.9883986.108 DIFK6-SANN-0626

**Fidelity's Broadly Diversified International Equity Funds**

**Fidelity® Diversified International Fund**

**Fidelity® Overseas Fund**

**Fidelity® Worldwide Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131291_1.jpg)

![](img131291_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_IBD-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Diversified International Fund](#Sub_Sec_Fund_325_IBD-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Overseas Fund](#Sub_Sec_Fund_94_IBD-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® Worldwide Fund](#Sub_Sec_Fund_318_IBD-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_IBD-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_IBD-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_IBD-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_IBD-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 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® Diversified International Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 95.8%** | &nbsp;&nbsp;**Common Stocks - 95.8%** | &nbsp;&nbsp;**Common Stocks - 95.8%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Aristocrat Leisure Ltd  | 1453603 | 50011925 |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Steadfast Group Ltd  | 2351167 | 7231797 |
| Suncorp Group Ltd  | 1269365 | 15796465 |
| TOTAL FINANCIALS |  | 23028262 |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| Rio Tinto PLC  | 1121300 | 112955927 |
| TOTAL AUSTRALIA |  | 185996114 |
| BELGIUM - 2.0%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| KBC Group NV  | 1394500 | 185351171 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Financiere de Tubize SA  | 61962 | 14231637 |
| UCB SA (a) | 328520 | 89143206 |
| TOTAL HEALTH CARE |  | 103374843 |
| TOTAL BELGIUM |  | 288726014 |
| BRAZIL - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (a) | 2389600 | 34601408 |
| CANADA - 3.7%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Broadline Retail - 0.5% |  |  |
| Dollarama Inc  | 612200 | 78240453 |
| Energy - 2.2% |  |  |
| Oil, Gas & Consumable Fuels - 2.2% |  |  |
| Cameco Corp  | 178681 | 21964997 |
| Canadian Natural Resources Ltd  | 2926551 | 139697108 |
| Imperial Oil Ltd  | 1160314 | 155431764 |
| TOTAL ENERGY |  | 317093869 |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Franco-Nevada Corp  | 604751 | 139519909 |
| G Mining Ventures Corp (a) | 191300 | 6630400 |
| TOTAL MATERIALS |  | 146150309 |
| TOTAL CANADA |  | 541484631 |
| CHILE - 1.0%  |  |  |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Antofagasta PLC  | 3133900 | 151366809 |
| CHINA - 1.0%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Broadline Retail - 0.6% |  |  |
| Prosus NV Class N  | 1730650 | 83785978 |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Airtac International Group  | 1425645 | 66775063 |
| TOTAL CHINA |  | 150561041 |
| DENMARK - 1.8%  |  |  |
| Industrials - 1.7% |  |  |
| Air Freight & Logistics - 1.5% |  |  |
| DSV A/S  | 893903 | 218802420 |
| Electrical Equipment - 0.2% |  |  |
| Vestas Wind Systems A/S  | 712200 | 21899726 |
| TOTAL INDUSTRIALS |  | 240702146 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Novonesis Novozymes B Series B  | 407100 | 25014574 |
| TOTAL DENMARK |  | 265716720 |
| FINLAND - 0.8%  |  |  |
| Information Technology - 0.8% |  |  |
| Communications Equipment - 0.8% |  |  |
| Nokia Oyj  | 9347400 | 116342959 |
| FRANCE - 4.8%  |  |  |
| Communication Services - 0.5% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Orange SA  | 3762000 | 78333687 |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 107955 | 57193006 |
| Consumer Staples - 0.6% |  |  |
| Food Products - 0.3% |  |  |
| Danone SA  | 551956 | 43244677 |
| Personal Care Products - 0.3% |  |  |
| L'Oreal SA  | 84800 | 36431317 |
| TOTAL CONSUMER STAPLES |  | 79675994 |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Gaztransport Et Technigaz SA  | 30500 | 7409839 |
| Financials - 0.3% |  |  |
| Capital Markets - 0.3% |  |  |
| Amundi SA (c)(d) | 375751 | 36250213 |
| Industrials - 1.6% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| Airbus SE  | 69700 | 14369316 |
| Safran SA  | 470591 | 151112803 |
|  |  | 165482119 |
| Electrical Equipment - 0.4% |  |  |
| Legrand SA  | 335466 | 60103306 |
| TOTAL INDUSTRIALS |  | 225585425 |
| Materials - 1.1% |  |  |
| Chemicals - 1.1% |  |  |
| Air Liquide SA  | 756354 | 162722310 |
| Utilities - 0.3% |  |  |
| Multi-Utilities - 0.3% |  |  |
| Veolia Environnement SA  | 1097800 | 46425089 |
| TOTAL FRANCE |  | 693595563 |
| GERMANY - 8.4%  |  |  |
| Financials - 3.6% |  |  |
| Capital Markets - 0.9% |  |  |
| Deutsche Boerse AG  | 409049 | 125495370 |
| Insurance - 2.7% |  |  |
| Allianz SE  | 505617 | 230931725 |
| Hannover Rueck SE  | 201221 | 60835596 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 158442 | 94986046 |
|  |  | 386753367 |
| TOTAL FINANCIALS |  | 512248737 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.6% |  |  |
| Fresenius SE & Co KGaA  | 1904895 | 92253322 |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Rheinmetall AG  | 47721 | 75935310 |
| Electrical Equipment - 1.9% |  |  |
| Siemens Energy AG  | 1283793 | 272084158 |
| Industrial Conglomerates - 0.8% |  |  |
| Siemens AG  | 373332 | 110939775 |
| TOTAL INDUSTRIALS |  | 458959243 |
| Information Technology - 0.5% |  |  |
| Software - 0.5% |  |  |
| SAP SE  | 427085 | 71704664 |
| Materials - 0.5% |  |  |
| Construction Materials - 0.5% |  |  |
| Heidelberg Materials AG  | 357095 | 78790609 |
| TOTAL GERMANY |  | 1213956575 |
| HONG KONG - 1.9%  |  |  |
| Financials - 1.9% |  |  |
| Insurance - 1.9% |  |  |
| AIA Group Ltd  | 16382439 | 179859026 |
| Prudential PLC  | 6421400 | 96767601 |
| Prudential PLC rights (a)(b) | 6421400 | 1218083 |
| TOTAL HONG KONG |  | 277844710 |
| IRELAND - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Building Products - 1.0% |  |  |
| Kingspan Group PLC  | 1538711 | 142034678 |
| ISRAEL - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (a) | 811800 | 28469826 |
| ITALY - 4.4%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Lottomatica Group Spa  | 1548300 | 45574430 |
| Consumer Staples - 1.0% |  |  |
| Beverages - 1.0% |  |  |
| Coca-Cola HBC AG  | 2545200 | 148232702 |
| Financials - 2.2% |  |  |
| Banks - 2.2% |  |  |
| FinecoBank Banca Fineco SpA  | 3272036 | 80951944 |
| Intesa Sanpaolo SpA  | 17424200 | 118384066 |
| UniCredit SpA  | 1416815 | 109494844 |
| TOTAL FINANCIALS |  | 308830854 |
| Industrials - 0.9% |  |  |
| Electrical Equipment - 0.3% |  |  |
| Prysmian SpA  | 310700 | 47260335 |
| Machinery - 0.1% |  |  |
| Interpump Group SpA  | 497023 | 20871585 |
| Passenger Airlines - 0.5% |  |  |
| Ryanair Holdings PLC ADR  | 1109994 | 60661172 |
| TOTAL INDUSTRIALS |  | 128793092 |
| TOTAL ITALY |  | 631431078 |
| JAPAN - 20.0%  |  |  |
| Consumer Discretionary - 1.9% |  |  |
| Automobiles - 0.4% |  |  |
| Toyota Motor Corp  | 3186300 | 61162358 |
| Household Durables - 0.9% |  |  |
| Panasonic Holdings Corp  | 6284800 | 128560675 |
| Specialty Retail - 0.6% |  |  |
| Fast Retailing Co Ltd  | 173262 | 81562280 |
| TOTAL CONSUMER DISCRETIONARY |  | 271285313 |
| Financials - 3.2% |  |  |
| Banks - 1.9% |  |  |
| Mizuho Financial Group Inc  | 1172900 | 50437884 |
| Sumitomo Mitsui Financial Group Inc  | 6252527 | 220770815 |
|  |  | 271208699 |
| Financial Services - 0.8% |  |  |
| ORIX Corp  | 3275427 | 110239380 |
| Insurance - 0.5% |  |  |
| Tokio Marine Holdings Inc  | 1699867 | 77848419 |
| TOTAL FINANCIALS |  | 459296498 |
| Health Care - 2.1% |  |  |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Hoya Corp  | 1136572 | 212247776 |
| Pharmaceuticals - 0.6% |  |  |
| Chugai Pharmaceutical Co Ltd  | 878000 | 46823214 |
| Takeda Pharmaceutical Co Ltd  | 1165700 | 38972609 |
|  |  | 85795823 |
| TOTAL HEALTH CARE |  | 298043599 |
| Industrials - 7.8% |  |  |
| Building Products - 0.3% |  |  |
| Daikin Industries Ltd  | 265400 | 37499747 |
| Electrical Equipment - 0.3% |  |  |
| Fujikura Ltd  | 686800 | 26498804 |
| Furukawa Electric Co Ltd  | 84400 | 22921932 |
|  |  | 49420736 |
| Industrial Conglomerates - 1.5% |  |  |
| Hitachi Ltd  | 6864491 | 218279481 |
| Machinery - 3.0% |  |  |
| Ebara Corp  | 3197701 | 109386672 |
| Japan Steel Works Ltd/The  | 446600 | 27292022 |
| Kawasaki Heavy Industries Ltd  | 4423745 | 90945175 |
| Mitsubishi Heavy Industries Ltd  | 6821738 | 203600898 |
|  |  | 431224767 |
| Trading Companies & Distributors - 2.7% |  |  |
| ITOCHU Corp  | 15552020 | 192737893 |
| Marubeni Corp  | 2110200 | 82131303 |
| Sumitomo Corp  | 1531700 | 56951985 |
| Toyota Tsusho Corp  | 1499800 | 58875854 |
|  |  | 390697035 |
| TOTAL INDUSTRIALS |  | 1127121766 |
| Information Technology - 4.0% |  |  |
| Semiconductors & Semiconductor Equipment - 4.0% |  |  |
| Advantest Corp  | 1116500 | 208471284 |
| Disco Corp  | 37300 | 17746687 |
| Kioxia Holdings Corp (a) | 6400 | 1548535 |
| Lasertec Corp  | 154400 | 42672828 |
| Renesas Electronics Corp  | 10935005 | 221134756 |
| Rohm Co Ltd  | 2491600 | 53905666 |
| Tokyo Electron Ltd  | 113000 | 33299159 |
| TOTAL INFORMATION TECHNOLOGY |  | 578778915 |
| Materials - 1.0% |  |  |
| Chemicals - 1.0% |  |  |
| Nissan Chemical Corp  | 961500 | 41574820 |
| Shin-Etsu Chemical Co Ltd  | 2249700 | 103581139 |
| TOTAL MATERIALS |  | 145155959 |
| TOTAL JAPAN |  | 2879682050 |
| KOREA (SOUTH) - 3.1%  |  |  |
| Information Technology - 3.1% |  |  |
| Semiconductors & Semiconductor Equipment - 1.8% |  |  |
| SK Hynix Inc  | 283690 | 254609786 |
| Technology Hardware, Storage & Peripherals - 1.3% |  |  |
| Samsung Electronics Co Ltd  | 1317190 | 199625832 |
| TOTAL KOREA (SOUTH) |  | 454235618 |
| MEXICO - 0.2%  |  |  |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| Cemex SAB de CV ADR  | 2832215 | 34836245 |
| NETHERLANDS - 4.2%  |  |  |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.2% |  |  |
| Argenx SE (a) | 34504 | 27059000 |
| Industrials - 0.1% |  |  |
| Professional Services - 0.1% |  |  |
| Wolters Kluwer NV  | 179313 | 13994568 |
| Information Technology - 3.9% |  |  |
| Semiconductors & Semiconductor Equipment - 3.9% |  |  |
| ASM International NV  | 50900 | 49619035 |
| ASML Holding NV depository receipt  | 328280 | 472391638 |
| BE Semiconductor Industries NV  | 136794 | 39687534 |
| TOTAL INFORMATION TECHNOLOGY |  | 561698207 |
| TOTAL NETHERLANDS |  | 602751775 |
| POLAND - 0.1%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.1% |  |  |
| Allegro.eu SA (a)(c)(d) | 1335400 | 10958251 |
| SINGAPORE - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| DBS Group Holdings Ltd  | 3347200 | 154341625 |
| SPAIN - 5.0%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Specialty Retail - 0.3% |  |  |
| Industria de Diseno Textil SA (e) | 792571 | 47049564 |
| Financials - 4.2% |  |  |
| Banks - 4.2% |  |  |
| Banco Santander SA  | 28927786 | 352412378 |
| CaixaBank SA  | 19689902 | 250620052 |
| TOTAL FINANCIALS |  | 603032430 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Iberdrola SA  | 2998100 | 70288144 |
| TOTAL SPAIN |  | 720370138 |
| SWEDEN - 2.6%  |  |  |
| Financials - 1.2% |  |  |
| Financial Services - 1.2% |  |  |
| Investor AB B Shares  | 4278859 | 172401023 |
| Industrials - 1.2% |  |  |
| Building Products - 0.4% |  |  |
| Assa Abloy AB B Shares  | 1835900 | 69874659 |
| Machinery - 0.8% |  |  |
| Atlas Copco AB A Shares  | 3341600 | 63048033 |
| Epiroc AB A Shares  | 878500 | 25361776 |
| Indutrade AB  | 1020582 | 21798356 |
|  |  | 110208165 |
| TOTAL INDUSTRIALS |  | 180082824 |
| Information Technology - 0.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Hexagon AB B Shares  | 2626000 | 28226069 |
| Software - 0.0% |  |  |
| Kry International Ab (a)(f)(g) | 123307 | 981197 |
| TOTAL INFORMATION TECHNOLOGY |  | 29207266 |
| TOTAL SWEDEN |  | 381691113 |
| SWITZERLAND - 1.5%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Textiles, Apparel & Luxury Goods - 0.7% |  |  |
| Cie Financiere Richemont SA Series A  | 543952 | 104393854 |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Zurich Insurance Group AG  | 166370 | 115996540 |
| TOTAL SWITZERLAND |  | 220390394 |
| TAIWAN - 2.6%  |  |  |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Bizlink Holding Inc  | 156000 | 14052305 |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 206000 | 14346410 |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 867097 | 343422438 |
| TOTAL INFORMATION TECHNOLOGY |  | 357768848 |
| TOTAL TAIWAN |  | 371821153 |
| UNITED KINGDOM - 15.0%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Zegona Communications plc  | 760777 | 18240705 |
| Consumer Discretionary - 0.9% |  |  |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 3409003 | 96304335 |
| Leisure Products - 0.2% |  |  |
| Games Workshop Group PLC  | 124825 | 33104860 |
| TOTAL CONSUMER DISCRETIONARY |  | 129409195 |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| British American Tobacco PLC  | 3412100 | 200955050 |
| Financials - 5.7% |  |  |
| Banks - 4.7% |  |  |
| HSBC Holdings PLC  | 4314818 | 79391900 |
| Lloyds Banking Group PLC  | 194627066 | 264557169 |
| NatWest Group PLC  | 28256332 | 225369029 |
| Standard Chartered PLC  | 3042400 | 77474197 |
| Starling Bank Ltd (f)(g) | 8636400 | 25736839 |
|  |  | 672529134 |
| Capital Markets - 0.8% |  |  |
| 3i Group PLC  | 2003362 | 69672440 |
| London Stock Exchange Group PLC  | 351878 | 45727118 |
|  |  | 115399558 |
| Insurance - 0.2% |  |  |
| Admiral Group PLC  | 596100 | 27400413 |
| TOTAL FINANCIALS |  | 815329105 |
| Health Care - 2.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Convatec Group PLC (c)(d) | 11230202 | 32206258 |
| Pharmaceuticals - 2.2% |  |  |
| Astrazeneca PLC  | 1193211 | 226468357 |
| GSK PLC  | 3405100 | 89273123 |
|  |  | 315741480 |
| TOTAL HEALTH CARE |  | 347947738 |
| Industrials - 3.1% |  |  |
| Aerospace & Defense - 3.0% |  |  |
| BAE Systems PLC  | 4911332 | 136601630 |
| Rolls-Royce Holdings PLC  | 18159464 | 292214107 |
|  |  | 428815737 |
| Trading Companies & Distributors - 0.1% |  |  |
| RS GROUP PLC  | 2995363 | 24537160 |
| TOTAL INDUSTRIALS |  | 453352897 |
| Utilities - 1.4% |  |  |
| Electric Utilities - 1.0% |  |  |
| SSE PLC  | 4001300 | 143264086 |
| Multi-Utilities - 0.4% |  |  |
| National Grid PLC  | 3157400 | 56519301 |
| TOTAL UTILITIES |  | 199783387 |
| TOTAL UNITED KINGDOM |  | 2165018077 |
| UNITED STATES - 7.9%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Hotels, Restaurants & Leisure - 0.8% |  |  |
| InterContinental Hotels Group PLC  | 805925 | 115327868 |
| Energy - 1.9% |  |  |
| Oil, Gas & Consumable Fuels - 1.9% |  |  |
| Shell PLC  | 6011122 | 273306521 |
| Health Care - 1.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Alcon AG  | 373902 | 27860209 |
| Pharmaceuticals - 1.2% |  |  |
| Roche Holding AG  | 395210 | 161048012 |
| Viatris Inc  | 504300 | 7534242 |
|  |  | 168582254 |
| TOTAL HEALTH CARE |  | 196442463 |
| Industrials - 2.1% |  |  |
| Electrical Equipment - 1.8% |  |  |
| Schneider Electric SE  | 834601 | 265577401 |
| Trading Companies & Distributors - 0.3% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 150328 | 39704868 |
| TOTAL INDUSTRIALS |  | 305282269 |
| Materials - 1.7% |  |  |
| Chemicals - 0.1% |  |  |
| Linde PLC  | 46392 | 23248887 |
| Construction Materials - 1.6% |  |  |
| CRH PLC  | 1431045 | 169464349 |
| Holcim AG  | 615489 | 57195194 |
|  |  | 226659543 |
| TOTAL MATERIALS |  | 249908430 |
| TOTAL UNITED STATES |  | 1140267551 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $8,627,808,323) |  | <br> **13858492116** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** |
|  | Shares | Value ($)<br>|
| CANADA - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Valsoft Corp Series A-1.2 (a)(f)(g) | 537 | 4785814 |
| Valsoft Corp Series A-1.3 (a)(f)(g) | 190 | 1693304 |
| Valsoft Corp Series A-1.4 (a)(f)(g) | 246 | 2192384 |
| TOTAL CANADA |  | 8671502 |
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (a)(f)(g) | 79275 | 16455250 |
| UNITED STATES - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Wasabi Holdings Inc Series C (a)(f)(g) | 2976172 | 37589052 |
| Wasabi Holdings Inc Series D1 (f)(g) | 125260 | 2277227 |
| TOTAL UNITED STATES |  | 39866279 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $66,713,195) |  | <br> **64993031** |

---

---

| | | |
|:---|:---|:---|
| &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%  |  |  |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| Sartorius AG <br>(Cost $49,804,828)<br>| 167052 | **42584358** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.3%** | &nbsp;&nbsp;**Money Market Funds - 3.3%** | &nbsp;&nbsp;**Money Market Funds - 3.3%** | &nbsp;&nbsp;**Money Market Funds - 3.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 433753410 | 433840160 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 39213579 | 39217500 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $473,056,703) |  |  | **473057660** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.8%**<br> (Cost $9,217,383,049)<br>| <br>**14439127165** |
| **NET OTHER ASSETS (LIABILITIES) - 0.2%**  | **27833014** |
| **NET ASSETS - 100.0%** | **14466960179** |

---

**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 $79,414,722 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 $79,414,722 or 0.5% of net assets.

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

(f) 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 $91,711,067 or 0.6% of net assets.

(g) Level 3 security.

(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>|
| Bolt Technology OU Series E | 1/3/2022 | 20595368 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 8153900 |
| Starling Bank Ltd | 6/18/2021 | 15440896 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 6290262 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 1886105 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 3237722 |
| Wasabi Holdings Inc Series C | 3/31/2021 | 32334919 |
| Wasabi Holdings Inc Series D1 | 11/14/2025 | 2368819 |

---

**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 | 324980155 | 1338135426 | 1229277908 | 7192643 | 2487 | - | 433840160 | 433753410 | 0.7% |
| Fidelity Securities Lending Cash Central Fund | 29075000 | 563595851 | 553445843 | 56145 | (7508) | - | 39217500 | 39213579 | 0.1% |
| Total | 354055155 | 1901731277 | 1782723751 | 7248788 | (5021) | - | 473057660 |  |  |

---

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 | 96574392 | 18240705 | 78333687 | - |
| Consumer Discretionary | 993229837 | 483752767 | 509477070 | - |
| Consumer Staples | 428863746 | 184664019 | 244199727 | - |
| Energy | 597810229 | 324503708 | 273306521 | - |
| Financials | 3698552576 | 1092135393 | 2580680344 | 25736839 |
| Health Care | 1093590791 | 554755489 | 538835302 | - |
| Industrials | 3356736276 | 1009352399 | 2347383877 | - |
| Information Technology | 2169736477 | 1049689673 | 1119065607 | 981197 |
| Materials | 1106901172 | 525066599 | 581834573 | - |
| Utilities | 316496620 | - | 316496620 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 64993031 | - | - | 64993031 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Health Care | 42584358 | 42584358 | - | - |
|  **Money Market Funds** | 473057660 | 473057660 | - | - |
| **Total Investments in Securities:** | 14439127165 | 5757802770 | 8589613328 | 91711067 |

---

**Fidelity® Diversified International 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 $37,379,689) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $8,744,326,346) | $13966069505 |  |
| Fidelity Central Funds (cost $473,056,703) | 473057660 |  |
| Total Investment in Securities (cost $9,217,383,049) |  | $14439127165 |
| Foreign currency held at value (cost $11,969,402) |  | 11938855 |
| Receivable for investments sold |  | 20137602 |
| Receivable for fund shares sold |  | 2947377 |
| Dividends receivable |  | 58564840 |
| Reclaims receivable |  | 31582042 |
| Distributions receivable from Fidelity Central Funds |  | 1410424 |
| Prepaid expenses |  | 3425 |
| Other receivables |  | 545934 |
| **Total assets** |  | 14566257664 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $45055108 |  |
| Delayed delivery | 1236624 |  |
| Payable for fund shares redeemed | 4977962 |  |
| Accrued management fee | 8525335 |  |
| Other payables and accrued expenses | 284956 |  |
| Collateral on securities loaned | 39217500 |  |
| **Total liabilities** |  | 99297485 |
| **Net Assets**  |  | $14466960179 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $8538953850 |
| Total accumulated earnings (loss) |  | 5928006329 |
| **Net Assets** |  | $14466960179 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Diversified International :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($13,058,961,922 ÷ 249,543,193 shares) |  | $52.33 |
| **Class K :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,407,998,257 ÷ 26,961,711 shares) |  | $52.22 |

---

---

| | | |
|:---|:---|:---|
| **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  |  | $143601020 |
| Income from Fidelity Central Funds (including $56,145 from security lending)  |  | 7248788 |
| Income before foreign taxes withheld |  | $150849808 |
| Less foreign taxes withheld |  | (10813257) |
| **Total income** |  | 140036551 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $50148280 |  |
| Performance adjustment | (2703530) |  |
| Custodian fees and expenses | 315762 |  |
| Independent trustees' fees and expenses | 21156 |  |
| Registration fees | 85231 |  |
| Audit fees | 45642 |  |
| Legal | 7667 |  |
| Miscellaneous | 18917 |  |
| **Total expenses** |  | 47939125 |
| **Net Investment income (loss)** |  | 92097426 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $13,559,234)  | 797449493 |  |
| Fidelity Central Funds | (5021) |  |
| Foreign currency transactions | 453263 |  |
| Total net realized gain (loss) |  | 797897735 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $14,636,668)  | 457142893 |  |
| Assets and liabilities in foreign currencies | 1597578 |  |
| Total change in net unrealized appreciation (depreciation) |  | 458740471 |
| **Net gain (loss)** |  | 1256638206 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1348735632 |

---

---

| | | |
|:---|:---|:---|
| **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) | $92097426 | $166912606 |
| &nbsp;&nbsp;Net realized gain (loss) | 797897735<br>| 1140768139<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 458740471 | 1063401466<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1348735632<br>| 2371082211<br>|
| Distributions to shareholders | (1314803761)<br>| (413712408)<br>|
| Share transactions - net increase (decrease) | 1081313196<br>| 376182904<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 1115245067<br>| 2333552707<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 13351715112 | 11018162405<br>|
| &nbsp;&nbsp;End of period | $14466960179 | $13351715112 |

---

**Financial Highlights** 

**Fidelity® Diversified International 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  | $52.63 | $44.97 | $37.63 | $33.99 | $53.38 | $41.61 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .34  | .65  | .63  | .57  | .33  | .16  |
| Net realized and unrealized gain (loss)  | 4.56  | 8.67  | 8.47  | 3.56  | (14.58)  | 12.07  |
| Total from investment operations  | 4.90  | 9.32  | 9.10  | 4.13  | (14.25)  | 12.23  |
| Distributions from net investment income  | (.91)  | (.87)  | (.70)  | (.14)  | (.57)  | (.02)  |
| Distributions from net realized gain  | (4.29)  | (.79)  | (1.06)  | (.35)  | (4.57)  | (.45)  |
| Total distributions  | (5.20)  | (1.66)  | (1.76)  | (.49)  | (5.14)  | (.46) C |
| Net asset value, end of period  | $52.33 | $52.63 | $44.97 | $37.63 | $33.99 | $53.38 |
| **Total Return** D,E | 10.24% <br>| 21.48%  | 24.85%  | 12.15%  | (29.36)%  | 29.58%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .70% H | .66%  | .61%  | .65%  | .99%  | 1.01%  |
| Expenses net of fee waivers, if any  | .70% H<br>| .66%  | .60%  | .65%  | .99%  | 1.01%  |
| Expenses net of all reductions, if any  | .70% H | .66%  | .60%  | .65%  | .99%  | 1.01%  |
| Net investment income (loss)  | 1.33% H | 1.38%  | 1.45%  | 1.45%  | .80%  | .32%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $13058962 | $12056104 | $9913806 | $7407098 | $7230515 | $11529722 |
| Portfolio turnover rate I | 51% H<br>| 47% J | 35% J | 22% J | 20% J | 29% J |

---

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.*

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

**Fidelity® Diversified International Fund Class K**<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  | $52.54 | $44.89 | $37.57 | $33.94 | $53.32 | $41.56 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .35  | .69  | .68  | .61  | .38  | .21  |
| Net realized and unrealized gain (loss)  | 4.56  | 8.64  | 8.44  | 3.56  | (14.58)  | 12.06  |
| Total from investment operations  | 4.91  | 9.33  | 9.12  | 4.17  | (14.20)  | 12.27  |
| Distributions from net investment income  | (.94)  | (.89)  | (.75)  | (.19)  | (.62)  | (.06)  |
| Distributions from net realized gain  | (4.29)  | (.79)  | (1.06)  | (.35)  | (4.57)  | (.45)  |
| Total distributions  | (5.23)  | (1.68)  | (1.80) C | (.54)  | (5.18) C | (.51)  |
| Net asset value, end of period  | $52.22 | $52.54 | $44.89 | $37.57 | $33.94 | $53.32 |
| **Total Return** D,E | 10.29% <br>| 21.57%  | 24.97%  | 12.29%  | (29.31)%  | 29.71%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .63% H | .59%  | .50%  | .54%  | .88%  | .91%  |
| Expenses net of fee waivers, if any  | .63% H<br>| .59%  | .50%  | .54%  | .88%  | .91%  |
| Expenses net of all reductions, if any  | .63% H | .59%  | .50%  | .54%  | .88%  | .91%  |
| Net investment income (loss)  | 1.40% H | 1.46%  | 1.56%  | 1.56%  | .91%  | .42%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1407998 | $1295611 | $1104357 | $1063151 | $1396859 | $3306774 |
| Portfolio turnover rate I | 51% H<br>| 47% J | 35% J | 22% J | 20% J | 29% J |

---

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.*

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 Diversified International 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 Diversified International and Class K shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.

**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.** 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.

Realized gains and losses on foreign currency transactions arise from the disposition of foreign currency, realized changes in the value of foreign currency between the trade and settlement dates on security transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on transaction date and the U.S. dollar equivalent of the amounts actually received or paid. Unrealized gains and losses on assets and liabilities in foreign currencies arise from changes in the value of foreign currency, and from assets and liabilities denominated in foreign currencies, other than investments, which are held at period end.

**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 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. 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 foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), deferred Trustee compensation 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** | $5202650903 |
| **Gross unrealized depreciation** | <u>(136988735)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$5065662168</u> |
| **Tax cost** | <u>$9373464997</u> |

---

**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 Diversified International Fund** | 3383111407 | 3580692026 |

---

**Prior Year Unaffiliated Exchanges In-Kind.** Shares that were exchanged for investments, including accrued interest and cash, if any, are shown in the table below. The amount of in-kind exchanges is included in share transactions in the accompanying Statement of Changes in Net Assets.

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Total Proceeds ($)** |
| **Fidelity Diversified International Fund** | 1513290 | 67940579 |

---

**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 %** |
| **Diversified International** | .79 |
| **Class K** | .68 |

---

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 %** |
| **Diversified International** | .74 |
| **Class K** | .67 |

---

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 Diversified International 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 Diversified International. 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 ±.20% 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)%.

**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 Diversified International Fund** | $91109 |

---

**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 Diversified International Fund** | 10049 |

---

**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 Diversified International Fund** | 125190191 | 160681578 | 47781970 |

---

**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 Diversified International Fund** | 8617 |

---

**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 Diversified International Fund** | 6113 | - | - |

---

**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 Diversified International Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Diversified International | $1188583315 | $371565810 |
| Class K | <u>126220446</u> | <u>42146598</u> |
| Total  | <u>$1314803761</u> | <u>$413712408</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 Diversified International Fund** |  |  |  |  |
| **Diversified International** |  |  |  |  |
| Shares sold | 10691576 | 27137511 | $540473783 | $1248651885 |
| Reinvestment of distributions  | 21878227 | 7395536 | 1045560477 | 322593265 |
| Shares redeemed | <u>(12108336)</u> | <u>(25891520)</u> | <u>(610367058)</u> | <u>(1198706545)</u> |
| Net increase (decrease) | <u>20461467</u> | <u>8641527</u> | <u>$975667202</u> | <u>$372538605</u> |
| **Class K** |  |  |  |  |
| Shares sold | 3416089 | 6661040 | $169906211 | $311883775 |
| Reinvestment of distributions  | 2644941 | 967876 | 126084331 | 42121949 |
| Shares redeemed | <u>(3758414)</u> | <u>(7568852)</u> | <u>(190344548)</u> | <u>(350361425)</u> |
| Net increase (decrease) | <u>2302616</u> | <u>60064</u> | <u>$105645994</u> | <u>$3644299</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.

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.

---

| | |
|:---|:---|
|  | **Strategic Advisers Fidelity International Fund** |
| Fidelity Diversified International Fund | 32% |

---

Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.

---

| | |
|:---|:---|
| **Fund**  | **% of shares held** |
| Fidelity Diversified International Fund | 36% |

---

**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.

**Fidelity® Overseas Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.7%** | &nbsp;&nbsp;**Common Stocks - 98.7%** | &nbsp;&nbsp;**Common Stocks - 98.7%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.8%  |  |  |
| Materials - 1.8% |  |  |
| Metals & Mining - 1.8% |  |  |
| Rio Tinto PLC  | 1383700 | 139389205 |
| BELGIUM - 1.4%  |  |  |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| KBC Group NV  | 782965 | 104068469 |
| CANADA - 1.0%  |  |  |
| Information Technology - 0.3% |  |  |
| Electronic Equipment, Instruments & Components - 0.3% |  |  |
| Celestica Inc (United States) (a) | 62900 | 25763211 |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(c) | 64880 | 5 |
| TOTAL INFORMATION TECHNOLOGY |  | 25763216 |
| Materials - 0.7% |  |  |
| Metals & Mining - 0.7% |  |  |
| Franco-Nevada Corp  | 232300 | 53593090 |
| TOTAL CANADA |  | 79356306 |
| CHINA - 0.5%  |  |  |
| Industrials - 0.5% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 597300 | 38372350 |
| DENMARK - 1.6%  |  |  |
| Industrials - 1.6% |  |  |
| Air Freight & Logistics - 1.6% |  |  |
| DSV A/S  | 500700 | 122557337 |
| FINLAND - 0.6%  |  |  |
| Information Technology - 0.6% |  |  |
| Communications Equipment - 0.6% |  |  |
| Nokia Oyj ADR  | 3504400 | 45241804 |
| FRANCE - 7.5%  |  |  |
| Communication Services - 0.6% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| Orange SA  | 2199500 | 45798763 |
| Consumer Staples - 1.0% |  |  |
| Food Products - 1.0% |  |  |
| Danone SA  | 1016300 | 79625125 |
| Industrials - 3.7% |  |  |
| Aerospace & Defense - 2.3% |  |  |
| Safran SA  | 534915 | 171768064 |
| Electrical Equipment - 1.4% |  |  |
| Legrand SA  | 583400 | 104524060 |
| TOTAL INDUSTRIALS |  | 276292124 |
| Materials - 2.2% |  |  |
| Chemicals - 2.2% |  |  |
| Air Liquide SA  | 785262 | 168941589 |
| TOTAL FRANCE |  | 570657601 |
| GERMANY - 8.0%  |  |  |
| Financials - 3.4% |  |  |
| Insurance - 3.4% |  |  |
| Allianz SE  | 394624 | 180237613 |
| Hannover Rueck SE  | 272481 | 82379791 |
| TOTAL FINANCIALS |  | 262617404 |
| Health Care - 0.5% |  |  |
| Health Care Providers & Services - 0.5% |  |  |
| Fresenius SE & Co KGaA  | 826100 | 40007701 |
| Industrials - 2.9% |  |  |
| Aerospace & Defense - 0.9% |  |  |
| Rheinmetall AG  | 44547 | 70884731 |
| Electrical Equipment - 2.0% |  |  |
| Siemens Energy AG  | 709200 | 150306229 |
| TOTAL INDUSTRIALS |  | 221190960 |
| Materials - 1.2% |  |  |
| Construction Materials - 1.2% |  |  |
| Heidelberg Materials AG  | 399000 | 88036665 |
| TOTAL GERMANY |  | 611852730 |
| HONG KONG - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Insurance - 1.2% |  |  |
| AIA Group Ltd  | 8607600 | 94500859 |
| IRELAND - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Building Products - 1.1% |  |  |
| Kingspan Group PLC  | 939800 | 86750657 |
| ITALY - 4.1%  |  |  |
| Financials - 3.4% |  |  |
| Banks - 3.4% |  |  |
| FinecoBank Banca Fineco SpA  | 2969563 | 73468598 |
| Intesa Sanpaolo SpA  | 17988800 | 122220090 |
| UniCredit SpA  | 789289 | 60998137 |
| TOTAL FINANCIALS |  | 256686825 |
| Health Care - 0.6% |  |  |
| Pharmaceuticals - 0.6% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 800350 | 46628380 |
| Industrials - 0.1% |  |  |
| Machinery - 0.1% |  |  |
| Interpump Group SpA  | 311100 | 13064083 |
| TOTAL ITALY |  | 316379288 |
| JAPAN - 20.2%  |  |  |
| Communication Services - 0.4% |  |  |
| Entertainment - 0.4% |  |  |
| Capcom Co Ltd  | 499100 | 10537804 |
| Nintendo Co Ltd  | 359500 | 17586342 |
| TOTAL COMMUNICATION SERVICES |  | 28124146 |
| Consumer Discretionary - 1.4% |  |  |
| Hotels, Restaurants & Leisure - 0.4% |  |  |
| Food & Life Cos Ltd  | 475100 | 27637057 |
| Household Durables - 1.0% |  |  |
| Panasonic Holdings Corp  | 3891200 | 79597648 |
| TOTAL CONSUMER DISCRETIONARY |  | 107234705 |
| Consumer Staples - 1.9% |  |  |
| Food Products - 1.9% |  |  |
| Ajinomoto Co Inc  | 4515800 | 145139708 |
| Financials - 4.4% |  |  |
| Banks - 3.2% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 8237100 | 147961715 |
| Mizuho Financial Group Inc  | 2288800 | 98424614 |
|  |  | 246386329 |
| Insurance - 1.2% |  |  |
| Tokio Marine Holdings Inc  | 2014289 | 92247931 |
| TOTAL FINANCIALS |  | 338634260 |
| Health Care - 2.9% |  |  |
| Health Care Equipment & Supplies - 2.2% |  |  |
| Hoya Corp  | 895931 | 167309561 |
| Pharmaceuticals - 0.7% |  |  |
| Takeda Pharmaceutical Co Ltd  | 1672500 | 55916350 |
| TOTAL HEALTH CARE |  | 223225911 |
| Industrials - 6.6% |  |  |
| Electrical Equipment - 0.5% |  |  |
| Fujikura Ltd  | 747900 | 28856226 |
| Furukawa Electric Co Ltd  | 28100 | 7631591 |
|  |  | 36487817 |
| Industrial Conglomerates - 2.2% |  |  |
| Hitachi Ltd  | 5255450 | 167114633 |
| Machinery - 3.9% |  |  |
| Daifuku Co Ltd  | 509100 | 22258697 |
| Ebara Corp  | 1893100 | 64758997 |
| Kawasaki Heavy Industries Ltd  | 3343000 | 68726773 |
| Mitsubishi Heavy Industries Ltd  | 4518800 | 134867645 |
|  |  | 290612112 |
| TOTAL INDUSTRIALS |  | 494214562 |
| Information Technology - 2.6% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| Advantest Corp  | 426800 | 79691486 |
| Disco Corp  | 105800 | 50337788 |
| Renesas Electronics Corp  | 3191000 | 64530469 |
|  |  | 194559743 |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| FUJIFILM Holdings Corp  | 300200 | 5524773 |
| TOTAL INFORMATION TECHNOLOGY |  | 200084516 |
| TOTAL JAPAN |  | 1536657808 |
| NETHERLANDS - 6.2%  |  |  |
| Consumer Staples - 0.1% |  |  |
| Food Products - 0.1% |  |  |
| Magnum Ice Cream Co NV/The  | 819300 | 11961949 |
| Information Technology - 6.1% |  |  |
| Semiconductors & Semiconductor Equipment - 6.1% |  |  |
| ASM International NV  | 145183 | 141529280 |
| ASML Holding NV  | 222615 | 321800286 |
| TOTAL INFORMATION TECHNOLOGY |  | 463329566 |
| TOTAL NETHERLANDS |  | 475291515 |
| PHILIPPINES - 0.0%  |  |  |
| Industrials - 0.0% |  |  |
| Transportation Infrastructure - 0.0% |  |  |
| International Container Terminal Services Inc  | 258500 | 3002962 |
| SPAIN - 7.5%  |  |  |
| Financials - 5.1% |  |  |
| Banks - 5.1% |  |  |
| Banco Santander SA  | 17927000 | 218395446 |
| CaixaBank SA  | 13515300 | 172027529 |
| TOTAL FINANCIALS |  | 390422975 |
| Utilities - 2.4% |  |  |
| Electric Utilities - 2.4% |  |  |
| Iberdrola SA  | 7696973 | 180449600 |
| TOTAL SPAIN |  | 570872575 |
| SWEDEN - 2.6%  |  |  |
| Health Care - 0.3% |  |  |
| Life Sciences Tools & Services - 0.3% |  |  |
| AddLife AB B Shares  | 1702809 | 26355247 |
| Industrials - 2.3% |  |  |
| Building Products - 1.5% |  |  |
| Assa Abloy AB B Shares  | 2874000 | 109384918 |
| Machinery - 0.8% |  |  |
| Indutrade AB  | 2983141 | 63716163 |
| TOTAL INDUSTRIALS |  | 173101081 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Kry International Ab (a)(b)(c) | 136880 | 1089202 |
| TOTAL SWEDEN |  | 200545530 |
| SWITZERLAND - 2.0%  |  |  |
| Financials - 1.5% |  |  |
| Insurance - 1.5% |  |  |
| Zurich Insurance Group AG  | 166239 | 115905204 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| Galderma Group AG  | 171990 | 36082372 |
| TOTAL SWITZERLAND |  | 151987576 |
| TAIWAN - 2.6%  |  |  |
| Information Technology - 2.6% |  |  |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 2815300 | 196065286 |
| UNITED KINGDOM - 16.1%  |  |  |
| Consumer Discretionary - 1.1% |  |  |
| Hotels, Restaurants & Leisure - 1.1% |  |  |
| Compass Group PLC  | 3000252 | 84757119 |
| Consumer Staples - 1.8% |  |  |
| Tobacco - 1.8% |  |  |
| British American Tobacco PLC  | 2277500 | 134132976 |
| Financials - 2.4% |  |  |
| Banks - 2.1% |  |  |
| NatWest Group PLC  | 20240500 | 161435739 |
| Capital Markets - 0.3% |  |  |
| 3i Group PLC  | 584500 | 20327600 |
| TOTAL FINANCIALS |  | 181763339 |
| Health Care - 3.2% |  |  |
| Pharmaceuticals - 3.2% |  |  |
| Astrazeneca PLC  | 786089 | 149197656 |
| GSK PLC  | 3681900 | 96530121 |
| TOTAL HEALTH CARE |  | 245727777 |
| Industrials - 5.1% |  |  |
| Aerospace & Defense - 3.9% |  |  |
| BAE Systems PLC  | 3921000 | 109056971 |
| Rolls-Royce Holdings PLC  | 11886100 | 191265893 |
|  |  | 300322864 |
| Trading Companies & Distributors - 1.2% |  |  |
| Diploma PLC  | 976562 | 92222657 |
| TOTAL INDUSTRIALS |  | 392545521 |
| Information Technology - 1.5% |  |  |
| Electronic Equipment, Instruments & Components - 1.5% |  |  |
| Halma PLC  | 1934349 | 115999529 |
| Utilities - 1.0% |  |  |
| Electric Utilities - 1.0% |  |  |
| SSE PLC  | 2241974 | 80272500 |
| TOTAL UNITED KINGDOM |  | 1235198761 |
| UNITED STATES - 12.7%  |  |  |
| Consumer Discretionary - 1.5% |  |  |
| Hotels, Restaurants & Leisure - 1.5% |  |  |
| InterContinental Hotels Group PLC  | 813391 | 116396252 |
| Energy - 1.8% |  |  |
| Oil, Gas & Consumable Fuels - 1.8% |  |  |
| Shell PLC  | 2968700 | 134977309 |
| Health Care - 2.6% |  |  |
| Health Care Equipment & Supplies - 0.4% |  |  |
| Alcon AG  | 411620 | 30670655 |
| Pharmaceuticals - 2.2% |  |  |
| Roche Holding AG  | 416342 | 169659299 |
| TOTAL HEALTH CARE |  | 200329954 |
| Industrials - 4.0% |  |  |
| Commercial Services & Supplies - 1.1% |  |  |
| Waste Connections Inc  | 523800 | 86285190 |
| Electrical Equipment - 2.9% |  |  |
| Schneider Electric SE  | 690800 | 219818654 |
| TOTAL INDUSTRIALS |  | 306103844 |
| Materials - 2.8% |  |  |
| Construction Materials - 2.8% |  |  |
| CRH PLC  | 998800 | 118277896 |
| Holcim AG  | 1045100 | 97117410 |
| TOTAL MATERIALS |  | 215395306 |
| TOTAL UNITED STATES |  | 973202665 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $5,426,611,280) |  | <br> **7551951284** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** | &nbsp;&nbsp;**Money Market Funds - 0.3%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (d)<br>(Cost $23,727,264)<br>| 3.69 | 23722519 | **23727264** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.0%**<br> (Cost $5,450,338,544)<br>| <br>**7575678548** |
| **NET OTHER ASSETS (LIABILITIES) - 1.0%**  | **77783829** |
| **NET ASSETS - 100.0%** | **7653462377** |

---

**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 $1,089,202 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 | 9051566 |

---

**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 | 87424296 | 1452829992 | 1516516793 | 2777323 | (10231) | - | 23727264 | 23722519 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 3756000 | 481037406 | 484788029 | 85953 | (5377) | - | - | - | 0.0% |
| Total | 91180296 | 1933867398 | 2001304822 | 2863276 | (15608) | - | 23727264 |  |  |

---

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.

Purchases and sales proceeds exclude the value of securities received and delivered through reorganization 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 | 73922909 | - | 73922909 | - |
| Consumer Discretionary | 308388076 | 201153371 | 107234705 | - |
| Consumer Staples | 370859758 | 11961949 | 358897809 | - |
| Energy | 134977309 | - | 134977309 | - |
| Financials | 1744599335 | 478312304 | 1266287031 | - |
| Health Care | 818357342 | 422511237 | 395846105 | - |
| Industrials | 2127195481 | 795171965 | 1332023516 | - |
| Information Technology | 1047573119 | 328533824 | 717950088 | 1089207 |
| Materials | 665355855 | 171870986 | 493484869 | - |
| Utilities | 260722100 | - | 260722100 | - |
|  **Money Market Funds** | 23727264 | 23727264 | - | - |
| **Total Investments in Securities:** | 7575678548 | 2433242900 | 5141346441 | 1089207 |

---

**Fidelity® Overseas 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 $5,426,611,280) | $7551951284 |  |
| Fidelity Central Funds (cost $23,727,264) | 23727264 |  |
| Total Investment in Securities (cost $5,450,338,544) |  | $7575678548 |
| Cash |  | 36040 |
| Foreign currency held at value (cost $420,703) |  | 420495 |
| Receivable for investments sold |  | 75173954 |
| Receivable for fund shares sold |  | 3990047 |
| Dividends receivable |  | 26066723 |
| Reclaims receivable |  | 41528254 |
| Distributions receivable from Fidelity Central Funds |  | 354088 |
| Prepaid expenses |  | 1961 |
| Other receivables |  | 97655 |
| **Total assets** |  | 7723347765 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $36607791 |  |
| Payable for fund shares redeemed | 29763001 |  |
| Accrued management fee | 3306157 |  |
| Distribution and service plan fees payable | 90059 |  |
| Other payables and accrued expenses | 118380 |  |
| **Total liabilities** |  | 69885388 |
| **Net Assets**  |  | $7653462377 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $5216378749 |
| Total accumulated earnings (loss) |  | 2437083628 |
| **Net Assets** |  | $7653462377 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($53,383,935 ÷ 714,595 shares)(a) |  | $74.71 |
| Maximum offering price per share (100/94.25 of $74.71) |  | $79.27 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($185,706,308 ÷ 2,488,292 shares)(a) |  | $74.63 |
| Maximum offering price per share (100/96.50 of $74.63) |  | $77.34 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($2,675,389 ÷ 35,907 shares)(a) |  | $74.51 |
| **Overseas :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($5,209,665,780 ÷ 69,649,308 shares) |  | $74.80 |
| **Class K :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($1,345,594,309 ÷ 18,095,343 shares) |  | $74.36 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($57,608,123 ÷ 770,479 shares) |  | $74.77 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($798,828,533 ÷ 10,680,076 shares) |  | $74.80 |
| *(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  |  | $77819844 |
| Foreign Tax Reclaims |  | 5212772 |
| Income from Fidelity Central Funds (including $85,953 from security lending)  |  | 2863276 |
| Security lending |  | 1642 |
| Income before foreign taxes withheld |  | $85897534 |
| Less foreign taxes withheld |  | (9770564) |
| **Total income** |  | 76126970 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $27510383 |  |
| Performance adjustment | (7547708) |  |
| Distribution and service plan fees | 469452 |  |
| Custodian fees and expenses | 155365 |  |
| Independent trustees' fees and expenses | 12033 |  |
| Registration fees | 175013 |  |
| Audit fees | 22082 |  |
| Legal | 4058 |  |
| Miscellaneous | 36188 |  |
| Total expenses before reductions | 20836866 |  |
| Expense reductions | (79545) |  |
| Total expenses after reductions |  | 20757321 |
| **Net Investment income (loss)** |  | 55369649 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $6,118,370)  | 336846813 |  |
| Fidelity Central Funds | (15608) |  |
| Foreign currency transactions | 481974 |  |
| Total net realized gain (loss) |  | 337313179 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $6,460,571)  | (92716429) |  |
| Assets and liabilities in foreign currencies | 1277093 |  |
| Total change in net unrealized appreciation (depreciation) |  | (91439336) |
| **Net gain (loss)** |  | 245873843 |
| **Net increase (decrease) in net assets resulting from operations** |  | $301243492 |

---

---

| | | |
|:---|:---|:---|
| **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) | $55369649 | $83367905 |
| &nbsp;&nbsp;Net realized gain (loss) | 337313179<br>| 235844226<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (91439336) | 806702021<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 301243492<br>| 1125914152<br>|
| Distributions to shareholders | (345499386)<br>| (89012888)<br>|
| Share transactions - net increase (decrease) | 266581224<br>| 100403309<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 222325330<br>| 1137304573<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 7431137047 | 6293832474<br>|
| &nbsp;&nbsp;End of period | $7653462377 | $7431137047 |

---

**Financial Highlights** 

**Fidelity Advisor® Overseas Fund Class A**<br>

---

| | |
|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** A |
| **Selected Per-Share Data**  |  |
| Net asset value, beginning of period  | $75.06 |
| Income from Investment Operations  |  |
| Net investment income (loss) B,C | .40  |
| Net realized and unrealized gain (loss)  | 2.75  |
| Total from investment operations  | 3.15  |
| Distributions from net investment income  | (1.28)  |
| Distributions from net realized gain  | (2.22)  |
| Total distributions  | (3.50)  |
| Net asset value, end of period  | $74.71 |
| **Total Return** D,E,F | 3.56% <br>|
| **Ratios to Average Net Assets** C,G,H |  |
| Expenses before reductions  | .84% I |
| Expenses net of fee waivers, if any  | .84% I<br>|
| Expenses net of all reductions, if any  | .84% I |
| Net investment income (loss)  | 1.18% I |
| **Supplemental Data** |  |
| Net assets, end of period (000 omitted) | $53384 |
| Portfolio turnover rate J | 76% I,K<br>|

---

A*For the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

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*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*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Overseas Fund Class M**<br>

---

| | |
|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** A |
| **Selected Per-Share Data**  |  |
| Net asset value, beginning of period  | $75.06 |
| Income from Investment Operations  |  |
| Net investment income (loss) B,C | .31  |
| Net realized and unrealized gain (loss)  | 2.74  |
| Total from investment operations  | 3.05  |
| Distributions from net investment income  | (1.26)  |
| Distributions from net realized gain  | (2.22)  |
| Total distributions  | (3.48)  |
| Net asset value, end of period  | $74.63 |
| **Total Return** D,E,F | 3.42% <br>|
| **Ratios to Average Net Assets** C,G,H |  |
| Expenses before reductions  | 1.09% I |
| Expenses net of fee waivers, if any  | 1.09% I<br>|
| Expenses net of all reductions, if any  | 1.09% I |
| Net investment income (loss)  | .93% I |
| **Supplemental Data** |  |
| Net assets, end of period (000 omitted) | $185706 |
| Portfolio turnover rate J | 76% I,K<br>|

---

A*For the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

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*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*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Overseas Fund Class C**<br>

---

| | |
|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** A |
| **Selected Per-Share Data**  |  |
| Net asset value, beginning of period  | $75.06 |
| Income from Investment Operations  |  |
| Net investment income (loss) B,C | .15  |
| Net realized and unrealized gain (loss)  | 2.74  |
| Total from investment operations  | 2.89  |
| Distributions from net investment income  | (1.22)  |
| Distributions from net realized gain  | (2.22)  |
| Total distributions  | (3.44)  |
| Net asset value, end of period  | $74.51 |
| **Total Return** D,E,F | 3.19% <br>|
| **Ratios to Average Net Assets** C,G,H |  |
| Expenses before reductions  | 1.57% I |
| Expenses net of fee waivers, if any  | 1.57% I<br>|
| Expenses net of all reductions, if any  | 1.57% I |
| Net investment income (loss)  | .45% I |
| **Supplemental Data** |  |
| Net assets, end of period (000 omitted) | $2675 |
| Portfolio turnover rate J | 76% I,K<br>|

---

A*For the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

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*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*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity® 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  | $75.79 | $65.03 | $52.19 | $46.55 | $69.79 | $50.91 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .53  | .85  | .85  | .67  | .47  | .21  |
| Net realized and unrealized gain (loss)  | 1.99  | 10.78  | 12.61  | 5.36  | (20.64)  | 18.98  |
| Total from investment operations  | 2.52  | 11.63  | 13.46  | 6.03  | (20.17)  | 19.19  |
| Distributions from net investment income  | (1.29)  | (.87)  | (.62)  | (.39)  | (.20)  | (.11)  |
| Distributions from net realized gain  | (2.22)  | -  | -  | -  | (2.87)  | (.21)  |
| Total distributions  | (3.51)  | (.87)  | (.62)  | (.39)  | (3.07)  | (.31) C |
| Net asset value, end of period  | $74.80 | $75.79 | $65.03 | $52.19 | $46.55 | $69.79 |
| **Total Return** D,E | 3.69% <br>| 18.10%  | 25.94%  | 12.95%  | (30.12)%  | 37.83%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .55% H | .67%  | .69%  | .73%  | .95%  | .99%  |
| Expenses net of fee waivers, if any  | .55% H<br>| .67%  | .69%  | .72%  | .95%  | .98%  |
| Expenses net of all reductions, if any  | .55% H | .67%  | .69%  | .72%  | .94%  | .98%  |
| Net investment income (loss)  | 1.46% H | 1.21%  | 1.34%  | 1.23%  | .84%  | .33%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $5209666 | $5964916 | $4962649 | $6684862 | $6175776 | $8981609 |
| Portfolio turnover rate I | 76% H,J<br>| 50%  | 35% K | 34%  | 25%  | 30% K |

---

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.*

J*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

**Fidelity® Overseas Fund Class K**<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  | $75.39 | $64.91 | $52.11 | $46.48 | $69.68 | $50.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .55  | .89  | .89  | .73  | .54  | .27  |
| Net realized and unrealized gain (loss)  | 1.97  | 10.73  | 12.59  | 5.34  | (20.60)  | 18.95  |
| Total from investment operations  | 2.52  | 11.62  | 13.48  | 6.07  | (20.06)  | 19.22  |
| Distributions from net investment income  | (1.33)  | (1.14)  | (.68)  | (.44)  | (.26)  | (.16)  |
| Distributions from net realized gain  | (2.22)  | -  | -  | -  | (2.87)  | (.21)  |
| Total distributions  | (3.55)  | (1.14)  | (.68)  | (.44)  | (3.14) C | (.37)  |
| Net asset value, end of period  | $74.36 | $75.39 | $64.91 | $52.11 | $46.48 | $69.68 |
| **Total Return** D,E | 3.72% <br>| 18.20%  | 26.04%  | 13.06%  | (30.04)%  | 37.97%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .48% H | .59%  | .64%  | .62%  | .84%  | .89%  |
| Expenses net of fee waivers, if any  | .48% H<br>| .59%  | .63%  | .61%  | .84%  | .88%  |
| Expenses net of all reductions, if any  | .48% H | .59%  | .63%  | .61%  | .84%  | .88%  |
| Net investment income (loss)  | 1.53% H | 1.28%  | 1.40%  | 1.34%  | .94%  | .43%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $1345594 | $1466221 | $1331184 | $692284 | $620003 | $1591397 |
| Portfolio turnover rate I | 76% H,J<br>| 50%  | 35% K | 34%  | 25%  | 30% K |

---

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.*

J*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

**Fidelity Advisor® Overseas Fund Class I**<br>

---

| | |
|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** A |
| **Selected Per-Share Data**  |  |
| Net asset value, beginning of period  | $75.06 |
| Income from Investment Operations  |  |
| Net investment income (loss) B,C | .48  |
| Net realized and unrealized gain (loss)  | 2.74  |
| Total from investment operations  | 3.22  |
| Distributions from net investment income  | (1.30)  |
| Distributions from net realized gain  | (2.22)  |
| Total distributions  | (3.51) D |
| Net asset value, end of period  | $74.77 |
| **Total Return** E,F | 3.66% <br>|
| **Ratios to Average Net Assets** C,G,H |  |
| Expenses before reductions  | .59% I |
| Expenses net of fee waivers, if any  | .59% I<br>|
| Expenses net of all reductions, if any  | .59% I |
| Net investment income (loss)  | 1.43% I |
| **Supplemental Data** |  |
| Net assets, end of period (000 omitted) | $57608 |
| Portfolio turnover rate J | 76% I,K<br>|

---

A*For the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

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 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*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.*

K*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Fidelity Advisor® Overseas Fund Class Z**<br>

---

| | |
|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)** A |
| **Selected Per-Share Data**  |  |
| Net asset value, beginning of period  | $75.06 |
| Income from Investment Operations  |  |
| Net investment income (loss) B,C | .52  |
| Net realized and unrealized gain (loss)  | 2.74  |
| Total from investment operations  | 3.26  |
| Distributions from net investment income  | (1.31)  |
| Distributions from net realized gain  | (2.22)  |
| Total distributions  | (3.52) D |
| Net asset value, end of period  | $74.80 |
| **Total Return** E,F | 3.72% <br>|
| **Ratios to Average Net Assets** C,G,H |  |
| Expenses before reductions  | .47% I |
| Expenses net of fee waivers, if any  | .46% I<br>|
| Expenses net of all reductions, if any  | .46% I |
| Net investment income (loss)  | 1.55% I |
| **Supplemental Data** |  |
| Net assets, end of period (000 omitted) | $798829 |
| Portfolio turnover rate J | 76% I,K<br>|

---

A*For the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

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 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*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.*

K*The portfolio turnover rate does not include the assets acquired in the reorganization.*

**Notes to Financial Statements (Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Overseas 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 commenced sale of Class A, Class M, Class C, Class I and Class Z shares on November 13, 2025. The Fund offers Class A, Class M, Class C, Overseas, Class K, 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 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.

**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 foreign currency transactions, 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** | $2230644623 |
| **Gross unrealized depreciation** | <u>(127400395)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$2103244228</u> |
| **Tax cost** | <u>$5472434320</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, in-kind transactions and securities acquired in the reorganization, as applicable, are noted in the table below.

---

| | | |
|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** |
| **Fidelity Overseas Fund** | 2802576653 | 3207171207 |

---

**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** | .86 |
| **Class M** | .83 |
| **Class C** | .86 |
| **Overseas** | .78 |
| **Class K** | .68 |
| **Class I** | .82 |
| **Class Z** | .68 |

---

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** | .78 |
| **Class M** | .78 |
| **Class C** | .78 |
| **Overseas** | .74 |
| **Class K** | .67 |
| **Class I** | .78 |
| **Class Z** | .65 |

---

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 Overseas 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 Overseas. 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 ±.20% 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 (.20)%. The performance adjustment rate may differ for classes that were not in existence for the entire reporting period.

**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% | 58961 | 2725 |
| **Class M** | .25% | .25% | 398552 | - |
| **Class C** | .75% | .25% | <u>11939</u> | <u>2112</u> |
|  |  |  | <u>469452</u> | <u>4837</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** | 1272 |
| **Class M** | 407 |
| **Class C**A | <u>7</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1686</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.*

**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 Overseas Fund** | $15282 |

---

**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 Overseas Fund** | 153 |

---

**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 Overseas Fund** | 47150082 | 117504307 | 6103915 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Overseas Fund** | 5845 |

---

**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 Overseas Fund** | 4738 |

---

**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 Overseas Fund** | 9321 | - | - |

---

**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 $181.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of class-level operating expenses as follows:

---

| | |
|:---|:---|
|  | **Class-Level Amount ($)** |
| **Class A**  | 561 |
| **Class M**  | 1875 |
| **Class C**  | 29 |
| **Fidelity Overseas Fund**  | 60304 |
| **Class K**  | 14291 |
| **Class I** | 685 |
| **Class Z**  | <u>1619</u> |
|  | <u>79364</u> |

---

**9. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Six months ended** <br> **April 30, 2026A** | **Year ended**<br> **October 31, 2025** |
| **Fidelity Overseas Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $61840 | $- |
| Class M | 150649 | - |
| Class C | 5206 | - |
| Overseas | 275818950 | 65840551 |
| Class K | 69143675 | 23172337 |
| Class I | 89938 | - |
| Class Z | <u>229128</u> | <u>-</u> |
| Total  | <u>$345499386</u> | <u>$89012888</u> |

---

*A Distributions for Class A, Class M, Class C, Class I and Class Z are for the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

**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, 2026A**  | **Year ended**<br> **October 31, 2025** | **Six months ended** <br> **April 30, 2026A**  | **Year ended**<br> **October 31, 2025** |
| **Fidelity Overseas Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 26863 | - | $2149962 | $- |
| Issued in exchange for the shares of the Acquired Fund(s) | 756258 | - | 52098569 | - |
| Reinvestment of distributions  | 752 | - | 54240 | - |
| Shares redeemed | <u>(69278)</u> | <u>-</u> | <u>(5070978)</u> | <u>-</u> |
| Net increase (decrease) | <u>714595</u> | <u>-</u> | <u>$49231793</u> | <u>$</u> <u>-</u> |
| **Class M** |  |  |  |  |
| Shares sold | 169207 | - | $12711086 | $- |
| Issued in exchange for the shares of the Acquired Fund(s) | 2536746 | - | 174730996 | - |
| Reinvestment of distributions  | 2000 | - | 144216 | - |
| Shares redeemed | <u>(219661)</u> | <u>-</u> | <u>(16017776)</u> | <u>-</u> |
| Net increase (decrease) | <u>2488292</u> | <u>-</u> | <u>$171568522</u> | <u>$</u> <u>-</u> |
| **Class C** |  |  |  |  |
| Shares sold | 2363 | - | $178301 | $- |
| Issued in exchange for the shares of the Acquired Fund(s) | 39584 | - | 2726120 | - |
| Reinvestment of distributions  | 9 | - | 647 | - |
| Shares redeemed | <u>(6049)</u> | <u>-</u> | <u>(434847)</u> | <u>-</u> |
| Net increase (decrease) | <u>35907</u> | <u>-</u> | <u>$2470221</u> | <u>$</u> <u>-</u> |
| **Overseas** |  |  |  |  |
| Shares sold | 7940087 | 15497372 | $574350981 | $1082733783 |
| Reinvestment of distributions  | 2989255 | 761890 | 207128126 | 49385702 |
| Shares redeemed | <u>(19981329)</u> | <u>(13874173)</u> | <u>(1483629243)</u> | <u>(955092537)</u> |
| Net increase (decrease) | <u>(9051987)</u> | <u>2385089</u> | <u>$(702150136)</u> | <u>$177026948</u> |
| **Class K** |  |  |  |  |
| Shares sold | 2127162 | 4921715 | $155188725 | $342144644 |
| Reinvestment of distributions  | 1004020 | 359651 | 69143675 | 23172337 |
| Shares redeemed | <u>(4484173)</u> | <u>(6340679)</u> | <u>(319822532)</u> | <u>(441940620)</u> |
| Net increase (decrease) | <u>(1352991)</u> | <u>(1059313)</u> | <u>$(95490132)</u> | <u>$(76623639)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 196031 | - | $13317188 | $- |
| Issued in exchange for the shares of the Acquired Fund(s) | 799626 | - | 55086268 | - |
| Reinvestment of distributions  | 1053 | - | 75929 | - |
| Shares redeemed | <u>(226231)</u> | <u>-</u> | <u>(16742546)</u> | <u>-</u> |
| Net increase (decrease) | <u>770479</u> | <u>-</u> | <u>$51736839</u> | <u>$</u> <u>-</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 9186050 | - | $688719913 | $- |
| Issued in exchange for the shares of the Acquired Fund(s) | 2081586 | - | 143400353 | - |
| Reinvestment of distributions  | 1102 | - | 79451 | - |
| Shares redeemed | <u>(588662)</u> | <u>-</u> | <u>(42985600)</u> | <u>-</u> |
| Net increase (decrease) | <u>10680076</u> | <u>-</u> | <u>$789214117</u> | <u>$</u> <u>-</u> |

---

*A Share transactions for Class A, Class M, Class C, Class I and Class Z are for the period November 13, 2025 (commencement of sale of shares) through April 30, 2026.*

**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.

**13. Reorganization Information.**

On November 21, 2025, Fidelity Overseas Fund acquired all of the assets and assumed all of the liabilities of Fidelity Advisor Overseas Fund (Acquired Fund) pursuant to an Agreement and Plan of Reorganization approved by the Board of Trustees. The securities held by the Acquired Fund were the primary assets acquired by the Fidelity Overseas Fund. In addition, the Board approved the creation of additional classes of shares that commenced sale of shares on November 13, 2025. The acquisition was accomplished by an exchange of each class of Fidelity Overseas Fund for corresponding shares then outstanding of the Acquired Fund at their respective net asset value on the acquisition date. The reorganization provides shareholders of the Acquired Fund access to a larger portfolio with a similar investment objective and lower projected expenses. For financial reporting purposes, the assets and liabilities of the Acquired Fund and shares issued by Fidelity Overseas Fund were recorded at fair value; however, the cost basis of the investments received from the Acquired Fund were carried forward and will be utilized for purposes of Fidelity Overseas Fund ongoing reporting of realized and unrealized gains and losses to more closely align subsequent reporting of realized gains with amounts distributable to shareholders for tax purposes. The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized to the funds or their shareholders.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Acquired Fund and Share Class** | **Investments $** | **Unrealized appreciation (depreciation) $** | **Net Assets $** | **Shares Exchanged** | **Shares Exchanged Ratio** |
| **Fidelity Advisor Overseas Fund** | 417657402 | 115676075 |  |  |  |
| **Class A** |  |  | 52098569 | 1571224 | 0.4813180433 |
| **Class M** |  |  | 174730996 | 5108603 | 0.4965635889 |
| **Class C** |  |  | 2726120 | 86497 | 0.457627414 |
| **Class I** |  |  | 55086268 | 1607550 | 0.4974190739 |
| **Class Z** |  |  | 143400353 | 4197550 | 0.495905066 |

---

---

| | | |
|:---|:---|:---|
| **Acquiring Fund** | **Net Assets $** | **Total net assets after the acquisition $** |
| **Fidelity Overseas Fund** | 7017708888 | 7445751194 |

---

Pro forma results of operations of the combined entity for the entire period ended April 30, 2026, as though the acquisition had occurred as of the beginning of the year (rather than on the actual acquisition date), are as follows:

---

| | |
|:---|:---|
| **Net investment income (loss)** | $55500943  |
| **Total net realized gain (loss)** | 353458139 |
| **Total change in net unrealized appreciation (depreciation)** | <u>(122087090)</u> |
| **Net increase (decrease) in net assets resulting from operations** | <u>$286871992</u> |

---

Because the combined investment portfolios have been managed as a single portfolio since the acquisition was completed, it is not practicable to separate the amounts of revenue and earnings of the Acquired Fund that has been included in the Fidelity Overseas Fund accompanying Statement of Operations since November 21, 2025.

**Fidelity® Worldwide Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.5%** | &nbsp;&nbsp;**Common Stocks - 98.5%** | &nbsp;&nbsp;**Common Stocks - 98.5%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.5%  |  |  |
| Consumer Discretionary - 0.1% |  |  |
| Specialty Retail - 0.1% |  |  |
| Lovisa Holdings Ltd  | 310528 | 5375988 |
| Financials - 0.7% |  |  |
| Capital Markets - 0.2% |  |  |
| Pinnacle Investment Management Group Ltd  | 792979 | 8659361 |
| Insurance - 0.5% |  |  |
| Generation Development Group Ltd  | 1841011 | 5253412 |
| Steadfast Group Ltd  | 1409422 | 4335147 |
| Suncorp Group Ltd  | 606346 | 7545602 |
|  |  | 17134161 |
| TOTAL FINANCIALS |  | 25793522 |
| Industrials - 0.5% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| DroneShield Ltd (b)(f) | 4435116 | 11561459 |
| Commercial Services & Supplies - 0.2% |  |  |
| Brambles Ltd  | 420019 | 6875269 |
| TOTAL INDUSTRIALS |  | 18436728 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Deterra Royalties Ltd  | 2088759 | 6291094 |
| TOTAL AUSTRALIA |  | 55897332 |
| AUSTRIA - 0.2%  |  |  |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| Wienerberger AG  | 277300 | 8019165 |
| BELGIUM - 0.8%  |  |  |
| Financials - 0.3% |  |  |
| Banks - 0.3% |  |  |
| KBC Group NV  | 95200 | 12653590 |
| Health Care - 0.5% |  |  |
| Pharmaceuticals - 0.5% |  |  |
| UCB SA (b) | 63000 | 17094917 |
| TOTAL BELGIUM |  | 29748507 |
| CANADA - 2.9%  |  |  |
| Energy - 2.3% |  |  |
| Energy Equipment & Services - 0.1% |  |  |
| TerraVest Industries Inc  | 45900 | 4682080 |
| Oil, Gas & Consumable Fuels - 2.2% |  |  |
| PrairieSky Royalty Ltd  | 3178000 | 80271787 |
| TOTAL ENERGY |  | 84953867 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Constellation Software Inc/Canada warrants 3/31/2040 (a)(b) | 3700 | 0 |
| Materials - 0.6% |  |  |
| Metals & Mining - 0.6% |  |  |
| Franco-Nevada Corp  | 108500 | 25031641 |
| TOTAL CANADA |  | 109985508 |
| CHINA - 1.5%  |  |  |
| Communication Services - 0.3% |  |  |
| Interactive Media & Services - 0.3% |  |  |
| Tencent Holdings Ltd  | 198500 | 12055355 |
| Consumer Discretionary - 0.5% |  |  |
| Automobiles - 0.4% |  |  |
| BYD Co Ltd H Shares  | 1051400 | 13985899 |
| Hotels, Restaurants & Leisure - 0.1% |  |  |
| Luckin Coffee Inc ADR (b) | 101400 | 3549000 |
| TOTAL CONSUMER DISCRETIONARY |  | 17534899 |
| Industrials - 0.7% |  |  |
| Electrical Equipment - 0.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 223500 | 14358313 |
| Machinery - 0.3% |  |  |
| Airtac International Group  | 221000 | 10351307 |
| TOTAL INDUSTRIALS |  | 24709620 |
| Information Technology - 0.0% |  |  |
| Electronic Equipment, Instruments & Components - 0.0% |  |  |
| Victory Giant Technology Huizhou Co Ltd H Shares  | 17500 | 717911 |
| TOTAL CHINA |  | 55017785 |
| DENMARK - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Air Freight & Logistics - 0.4% |  |  |
| DSV A/S  | 61646 | 15089214 |
| FINLAND - 1.2%  |  |  |
| Information Technology - 1.1% |  |  |
| Communications Equipment - 1.1% |  |  |
| Nokia Oyj  | 577200 | 7184153 |
| Nokia Oyj ADR  | 2480000 | 32016800 |
| TOTAL INFORMATION TECHNOLOGY |  | 39200953 |
| Materials - 0.1% |  |  |
| Paper & Forest Products - 0.1% |  |  |
| UPM-Kymmene Oyj  | 152400 | 4555673 |
| TOTAL FINLAND |  | 43756626 |
| FRANCE - 0.8%  |  |  |
| Consumer Staples - 0.4% |  |  |
| Food Products - 0.4% |  |  |
| Danone SA  | 176500 | 13828432 |
| Financials - 0.2% |  |  |
| Capital Markets - 0.2% |  |  |
| Amundi SA (f)(g) | 67800 | 6540939 |
| Industrials - 0.2% |  |  |
| Aerospace & Defense - 0.2% |  |  |
| Airbus SE  | 40000 | 8246379 |
| TOTAL FRANCE |  | 28615750 |
| GERMANY - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Health Care Providers & Services - 0.3% |  |  |
| Fresenius SE & Co KGaA  | 212300 | 10281606 |
| HONG KONG - 0.8%  |  |  |
| Financials - 0.8% |  |  |
| Capital Markets - 0.2% |  |  |
| Futu Holdings Ltd Class A ADR  | 44800 | 6922048 |
| Insurance - 0.6% |  |  |
| Prudential PLC  | 1451386 | 21871732 |
| Prudential PLC rights (b)(e) | 1451386 | 275315 |
|  |  | 22147047 |
| TOTAL HONG KONG |  | 29069095 |
| INDIA - 0.0%  |  |  |
| Financials - 0.0% |  |  |
| Financial Services - 0.0% |  |  |
| Pine Labs Ltd (h) | 661069 | 1360026 |
| INDONESIA - 0.4%  |  |  |
| Financials - 0.4% |  |  |
| Banks - 0.4% |  |  |
| Bank Central Asia Tbk PT  | 49813300 | 16888714 |
| IRELAND - 1.0%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| AIB Group PLC  | 2258000 | 25965697 |
| Industrials - 0.3% |  |  |
| Building Products - 0.3% |  |  |
| Kingspan Group PLC  | 136300 | 12581522 |
| TOTAL IRELAND |  | 38547219 |
| ITALY - 1.3%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Hotels, Restaurants & Leisure - 0.2% |  |  |
| Lottomatica Group Spa  | 275429 | 8107292 |
| Textiles, Apparel & Luxury Goods - 0.2% |  |  |
| Prada Spa  | 1860500 | 8290243 |
| TOTAL CONSUMER DISCRETIONARY |  | 16397535 |
| Financials - 0.1% |  |  |
| Financial Services - 0.1% |  |  |
| BFF Bank SpA (b)(c)(f)(g) | 1665830 | 4054880 |
| Health Care - 0.4% |  |  |
| Pharmaceuticals - 0.4% |  |  |
| Recordati Industria Chimica e Farmaceutica SpA  | 235460 | 13717896 |
| Industrials - 0.4% |  |  |
| Electrical Equipment - 0.2% |  |  |
| Prysmian SpA  | 50900 | 7742359 |
| Machinery - 0.2% |  |  |
| Interpump Group SpA  | 160100 | 6723111 |
| TOTAL INDUSTRIALS |  | 14465470 |
| TOTAL ITALY |  | 48635781 |
| JAPAN - 4.2%  |  |  |
| Communication Services - 0.3% |  |  |
| Entertainment - 0.3% |  |  |
| Nintendo Co Ltd  | 250000 | 12229723 |
| Consumer Discretionary - 0.9% |  |  |
| Household Durables - 0.3% |  |  |
| Panasonic Holdings Corp  | 559700 | 11449117 |
| Specialty Retail - 0.6% |  |  |
| Fast Retailing Co Ltd  | 25900 | 12192304 |
| USS Co Ltd  | 1043900 | 11274558 |
|  |  | 23466862 |
| TOTAL CONSUMER DISCRETIONARY |  | 34915979 |
| Consumer Staples - 0.2% |  |  |
| Food Products - 0.2% |  |  |
| Kotobuki Spirits Co Ltd  | 484100 | 6195712 |
| Health Care - 0.3% |  |  |
| Pharmaceuticals - 0.3% |  |  |
| Takeda Pharmaceutical Co Ltd  | 285300 | 9538376 |
| Industrials - 1.2% |  |  |
| Commercial Services & Supplies - 0.2% |  |  |
| Japan Elevator Service Holdings Co Ltd  | 626800 | 6341378 |
| Machinery - 0.6% |  |  |
| Daifuku Co Ltd  | 315100 | 13776696 |
| Ebara Corp  | 304500 | 10416309 |
|  |  | 24193005 |
| Trading Companies & Distributors - 0.4% |  |  |
| ITOCHU Corp  | 1085500 | 13452721 |
| TOTAL INDUSTRIALS |  | 43987104 |
| Information Technology - 0.8% |  |  |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| Kioxia Holdings Corp (b) | 40100 | 9702542 |
| Lasertec Corp  | 26200 | 7241115 |
| Renesas Electronics Corp  | 733231 | 14827872 |
| TOTAL INFORMATION TECHNOLOGY |  | 31771529 |
| Materials - 0.3% |  |  |
| Chemicals - 0.3% |  |  |
| NOF Corp  | 546685 | 11164943 |
| Real Estate - 0.2% |  |  |
| Real Estate Management & Development - 0.2% |  |  |
| Katitas Co Ltd  | 468000 | 9342498 |
| TOTAL JAPAN |  | 159145864 |
| KOREA (SOUTH) - 0.4%  |  |  |
| Information Technology - 0.4% |  |  |
| Semiconductors & Semiconductor Equipment - 0.4% |  |  |
| SK Hynix Inc  | 15170 | 13614969 |
| LUXEMBOURG - 0.0%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Automobile Components - 0.0% |  |  |
| Novem Group SA (b) | 174476 | 540602 |
| NETHERLANDS - 1.0%  |  |  |
| Information Technology - 1.0% |  |  |
| Semiconductors & Semiconductor Equipment - 1.0% |  |  |
| ASML Holding NV  | 26100 | 37728758 |
| NXP Semiconductors NV  | 800 | 234872 |
| TOTAL NETHERLANDS |  | 37963630 |
| NORWAY - 0.7%  |  |  |
| Energy - 0.6% |  |  |
| Energy Equipment & Services - 0.6% |  |  |
| TGS ASA  | 1394549 | 22653688 |
| Information Technology - 0.1% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| General Oceans AS  | 1522000 | 5037630 |
| TOTAL NORWAY |  | 27691318 |
| SINGAPORE - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Semiconductors & Semiconductor Equipment - 0.1% |  |  |
| STMicroelectronics NV  | 91700 | 4952304 |
| SPAIN - 1.6%  |  |  |
| Financials - 1.6% |  |  |
| Banks - 1.6% |  |  |
| Banco Santander SA  | 1395200 | 16997006 |
| Bankinter SA  | 1402400 | 23314553 |
| CaixaBank SA  | 1678500 | 21364543 |
| TOTAL SPAIN |  | 61676102 |
| SWEDEN - 1.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Household Durables - 0.1% |  |  |
| JM AB  | 316007 | 3946344 |
| Specialty Retail - 0.2% |  |  |
| Haypp Group AB (b) | 607852 | 8018886 |
| TOTAL CONSUMER DISCRETIONARY |  | 11965230 |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Noba (b) | 540500 | 4952620 |
| Swedbank AB A1 Shares  | 471350 | 16525521 |
| TOTAL FINANCIALS |  | 21478141 |
| Health Care - 0.4% |  |  |
| Life Sciences Tools & Services - 0.4% |  |  |
| AddLife AB B Shares  | 1042024 | 16127939 |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Kry International Ab (a)(b)(d) | 22735 | 180910 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Alleima AB  | 38665 | 343191 |
| TOTAL SWEDEN |  | 50095411 |
| SWITZERLAND - 1.6%  |  |  |
| Information Technology - 1.6% |  |  |
| Electronic Equipment, Instruments & Components - 1.6% |  |  |
| TE Connectivity PLC  | 291000 | 61593060 |
| TAIWAN - 4.5%  |  |  |
| Information Technology - 4.5% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| E Ink Holdings Inc  | 1806000 | 7972176 |
| Semiconductors & Semiconductor Equipment - 4.3% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 315000 | 21937472 |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 345000 | 136640700 |
|  |  | 158578172 |
| TOTAL TAIWAN |  | 166550348 |
| UNITED KINGDOM - 4.6%  |  |  |
| Communication Services - 0.7% |  |  |
| Diversified Telecommunication Services - 0.5% |  |  |
| Zegona Communications plc  | 778000 | 18653651 |
| Interactive Media & Services - 0.2% |  |  |
| MONY Group PLC  | 3108000 | 7519537 |
| TOTAL COMMUNICATION SERVICES |  | 26173188 |
| Consumer Discretionary - 0.7% |  |  |
| Household Durables - 0.1% |  |  |
| Beauty Tech Group PLC/The (b) | 724300 | 3055332 |
| Leisure Products - 0.6% |  |  |
| Games Workshop Group PLC  | 90242 | 23933097 |
| TOTAL CONSUMER DISCRETIONARY |  | 26988429 |
| Consumer Staples - 1.1% |  |  |
| Beverages - 0.2% |  |  |
| Diageo PLC  | 391173 | 7909279 |
| Food Products - 0.2% |  |  |
| Cranswick PLC  | 100300 | 7356446 |
| Tobacco - 0.7% |  |  |
| British American Tobacco PLC  | 434600 | 25595693 |
| TOTAL CONSUMER STAPLES |  | 40861418 |
| Financials - 1.6% |  |  |
| Banks - 0.3% |  |  |
| NatWest Group PLC  | 1362000 | 10863145 |
| Financial Services - 0.2% |  |  |
| Revolut Group Holdings Ltd (a)(b)(d) | 3936 | 5888138 |
| Insurance - 1.1% |  |  |
| Admiral Group PLC  | 282300 | 12976239 |
| Hiscox Ltd  | 703447 | 14817696 |
| Sabre Insurance Group PLC (f)(g) | 7362608 | 15168265 |
|  |  | 42962200 |
| TOTAL FINANCIALS |  | 59713483 |
| Industrials - 0.5% |  |  |
| Aerospace & Defense - 0.3% |  |  |
| Rolls-Royce Holdings PLC  | 645700 | 10390320 |
| Trading Companies & Distributors - 0.2% |  |  |
| RS GROUP PLC  | 814995 | 6676207 |
| TOTAL INDUSTRIALS |  | 17066527 |
| TOTAL UNITED KINGDOM |  | 170803045 |
| UNITED STATES - 65.4%  |  |  |
| Communication Services - 9.2% |  |  |
| Entertainment - 0.1% |  |  |
| Netflix Inc (b) | 47000 | 4399670 |
| Interactive Media & Services - 9.1% |  |  |
| Alphabet Inc Class A  | 769000 | 295911200 |
| Meta Platforms Inc Class A  | 72000 | 44057520 |
|  |  | 339968720 |
| TOTAL COMMUNICATION SERVICES |  | 344368390 |
| Consumer Discretionary - 8.1% |  |  |
| Automobiles - 0.2% |  |  |
| Rivian Automotive Inc Class A (b)(c) | 475100 | 7791640 |
| Tesla Inc (b) | 100 | 38163 |
| Waymo LLC Class B (a)(d) | 400 | 65728 |
|  |  | 7895531 |
| Broadline Retail - 4.4% |  |  |
| Amazon.com Inc (b) | 621000 | 164602260 |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| Flutter Entertainment PLC (b)(c) | 35600 | 3842308 |
| Flutter Entertainment PLC (United Kingdom) (b) | 100600 | 10855492 |
| Viking Holdings Ltd (b) | 86000 | 7044260 |
|  |  | 21742060 |
| Household Durables - 1.6% |  |  |
| Garmin Ltd  | 7000 | 1757980 |
| Somnigroup International Inc (c) | 764000 | 57957040 |
|  |  | 59715020 |
| Specialty Retail - 0.3% |  |  |
| Lowe's Cos Inc  | 54000 | 12894660 |
| Textiles, Apparel & Luxury Goods - 1.0% |  |  |
| Ralph Lauren Corp Class A  | 109000 | 39091760 |
| TOTAL CONSUMER DISCRETIONARY |  | 305941291 |
| Energy - 0.0% |  |  |
| Energy Equipment & Services - 0.0% |  |  |
| Baker Hughes Co Class A  | 19000 | 1323729 |
| Financials - 3.5% |  |  |
| Banks - 0.9% |  |  |
| Citigroup Inc  | 269000 | 34426620 |
| Capital Markets - 1.9% |  |  |
| Bank of New York Mellon Corp/The  | 254026 | 34133474 |
| Coinbase Global Inc Class A (b) | 10000 | 1877700 |
| Interactive Brokers Group Inc Class A  | 20000 | 1590000 |
| Robinhood Markets Inc Class A (b) | 427000 | 31124030 |
|  |  | 68725204 |
| Financial Services - 0.0% |  |  |
| Stripe Global Holdings Inc (a) | 10000 | 630000 |
| Insurance - 0.7% |  |  |
| Chubb Ltd  | 63000 | 20601000 |
| Travelers Companies Inc/The  | 20000 | 6102800 |
|  |  | 26703800 |
| TOTAL FINANCIALS |  | 130485624 |
| Health Care - 6.3% |  |  |
| Biotechnology - 0.2% |  |  |
| Gilead Sciences Inc  | 58000 | 7588720 |
| Moderna Inc (b) | 75000 | 3445500 |
|  |  | 11034220 |
| Health Care Equipment & Supplies - 0.5% |  |  |
| Alcon AG  | 221290 | 16488774 |
| Medline Inc Class A  | 40000 | 1778800 |
|  |  | 18267574 |
| Health Care Providers & Services - 1.0% |  |  |
| CVS Health Corp  | 116000 | 9661640 |
| UnitedHealth Group Inc  | 71000 | 26304080 |
|  |  | 35965720 |
| Pharmaceuticals - 4.6% |  |  |
| Eli Lilly & Co  | 113000 | 105609800 |
| Johnson & Johnson  | 194000 | 44590900 |
| Roche Holding AG  | 20990 | 8553422 |
| VeraDermics Inc  | 134000 | 13266000 |
|  |  | 172020122 |
| TOTAL HEALTH CARE |  | 237287636 |
| Industrials - 10.0% |  |  |
| Aerospace & Defense - 1.6% |  |  |
| Boeing Co (b) | 259000 | 59318770 |
| Air Freight & Logistics - 0.3% |  |  |
| FedEx Corp  | 26000 | 10486060 |
| Electrical Equipment - 0.7% |  |  |
| Regal Rexnord Corp  | 54000 | 11611620 |
| Schneider Electric SE  | 41100 | 13078383 |
|  |  | 24690003 |
| Ground Transportation - 1.7% |  |  |
| Knight-Swift Transportation Holdings Inc  | 36000 | 2336400 |
| Old Dominion Freight Line Inc  | 185000 | 39299550 |
| XPO Inc (b) | 109000 | 23994170 |
|  |  | 65630120 |
| Machinery - 5.0% |  |  |
| Caterpillar Inc  | 31000 | 27593410 |
| Cummins Inc  | 143000 | 95954430 |
| ESCO Technologies Inc  | 2000 | 647900 |
| ITT Inc  | 2000 | 428680 |
| PACCAR Inc  | 402000 | 47757600 |
| Parker-Hannifin Corp  | 6037 | 5490169 |
| RBC Bearings Inc (b) | 15000 | 8986350 |
|  |  | 186858539 |
| Passenger Airlines - 0.0% |  |  |
| United Airlines Holdings Inc (b) | 20000 | 1799999 |
| Trading Companies & Distributors - 0.7% |  |  |
| Fastenal Co  | 123000 | 5526390 |
| United Rentals Inc  | 7000 | 6718880 |
| WW Grainger Inc  | 12000 | 13936200 |
|  |  | 26181470 |
| TOTAL INDUSTRIALS |  | 374964961 |
| Information Technology - 25.8% |  |  |
| Communications Equipment - 1.1% |  |  |
| Ciena Corp (b) | 73000 | 38513340 |
| Viavi Solutions Inc (b) | 80000 | 4192000 |
|  |  | 42705340 |
| Electronic Equipment, Instruments & Components - 3.1% |  |  |
| Amphenol Corp Class A  | 49000 | 7216230 |
| Corning Inc  | 440000 | 72265600 |
| Flex Ltd (b) | 317000 | 29021350 |
| Keysight Technologies Inc (b) | 13000 | 4548830 |
| Littelfuse Inc  | 7000 | 2829190 |
| Vast Data Ltd (a)(b)(d) | 25607 | 1516447 |
|  |  | 117397647 |
| IT Services - 0.3% |  |  |
| Fastly Inc Class A (b) | 472000 | 11920360 |
| Semiconductors & Semiconductor Equipment - 12.2% |  |  |
| Analog Devices Inc  | 48000 | 19308480 |
| Applied Materials Inc  | 25000 | 9862250 |
| GlobalFoundries Inc (b) | 62000 | 4005200 |
| Intel Corp (b) | 823000 | 77757040 |
| Lam Research Corp  | 34000 | 8767240 |
| MaxLinear Inc (b) | 25000 | 1768750 |
| Microchip Technology Inc  | 62000 | 5760420 |
| Micron Technology Inc  | 66000 | 34132560 |
| NVIDIA Corp  | 1212000 | 241878840 |
| ON Semiconductor Corp (b) | 171000 | 17238510 |
| QUALCOMM Inc  | 19000 | 3412020 |
| Teradyne Inc  | 51000 | 17516970 |
| Texas Instruments Inc  | 42000 | 11805360 |
|  |  | 453213640 |
| Software - 0.7% |  |  |
| Circle Internet Group Inc Class A (b) | 57000 | 5180160 |
| Microsoft Corp  | 1000 | 407780 |
| Palantir Technologies Inc Class A (b) | 9000 | 1251990 |
| Strategy Inc Class A (b)(c) | 108000 | 17868600 |
|  |  | 24708530 |
| Technology Hardware, Storage & Peripherals - 8.4% |  |  |
| Apple Inc  | 251000 | 68108850 |
| Dell Technologies Inc Class C  | 12000 | 2507400 |
| Everpure Inc Class A (b) | 277600 | 19834520 |
| Sandisk Corp/DE (b) | 20000 | 21930200 |
| Seagate Technology Holdings PLC  | 89000 | 59953960 |
| Western Digital Corp  | 333000 | 144695160 |
|  |  | 317030090 |
| TOTAL INFORMATION TECHNOLOGY |  | 966975607 |
| Materials - 1.9% |  |  |
| Chemicals - 0.1% |  |  |
| Sherwin-Williams Co/The  | 13000 | 4180930 |
| Metals & Mining - 1.8% |  |  |
| Alcoa Corp  | 56000 | 3572240 |
| Steel Dynamics Inc  | 286000 | 65396760 |
|  |  | 68969000 |
| TOTAL MATERIALS |  | 73149930 |
| Real Estate - 0.1% |  |  |
| Specialized REITs - 0.1% |  |  |
| Equinix Inc  | 2000 | 2165660 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| NextEra Energy Inc  | 205000 | 20065400 |
| TOTAL UNITED STATES |  | 2456728228 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $2,495,950,398) |  | <br> **3702267209** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Interactive Media & Services - 0.1% |  |  |
| Bytedance Ltd Series E1 (a)(b)(d) | 14425 | 4349138 |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(d) | 120600 | 835758 |
| TOTAL CHINA |  | 5184896 |
| ISRAEL - 0.0%  |  |  |
| Industrials - 0.0% |  |  |
| Electrical Equipment - 0.0% |  |  |
| Element Labs Inc Series C (a) | 49400 | 1369862 |
| UNITED STATES - 0.7%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Automobiles - 0.0% |  |  |
| Waymo LLC Series D-2 (a)(d) | 1400 | 230048 |
| Financials - 0.0% |  |  |
| Financial Services - 0.0% |  |  |
| Stripe Global Holdings Inc Series H (a)(d) | 29122 | 1834686 |
| Information Technology - 0.7% |  |  |
| Electronic Equipment, Instruments & Components - 0.1% |  |  |
| Cerebras Systems Inc Series H (d) | 16500 | 1980000 |
| Vast Data Ltd Series B (a)(b)(d) | 5660 | 335185 |
| Vast Data Ltd Series F (a)(d) | 2501 | 148109 |
|  |  | 2463294 |
| Software - 0.6% |  |  |
| Anthropic PBC Series F (a)(d) | 24300 | 8106480 |
| Anthropic PBC Series G (a)(d) | 12100 | 4036560 |
| Databricks Inc Series K (a)(d) | 2500 | 475000 |
| Databricks Inc Series L (a)(d) | 26200 | 4978000 |
| OpenAI Group Pbc Series A-3 (a)(d) | 4152 | 2855289 |
|  |  | 20451329 |
| TOTAL INFORMATION TECHNOLOGY |  | 22914623 |
| TOTAL UNITED STATES |  | 24979357 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $21,230,450) |  | <br> **31534115** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.1%** | &nbsp;&nbsp;**Money Market Funds - 1.1%** | &nbsp;&nbsp;**Money Market Funds - 1.1%** | &nbsp;&nbsp;**Money Market Funds - 1.1%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (i) | 3.69 | 33402717 | 33409398 |
| Fidelity Securities Lending Cash Central Fund (i)(j) | 3.69 | 7442706 | 7443450 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $40,852,330) |  |  | **40852848** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.4%**<br> (Cost $2,558,033,178)<br>| <br>**3774654172** |
| **NET OTHER ASSETS (LIABILITIES) - (0.4)%**  | **(14543916)** |
| **NET ASSETS - 100.0%** | **3760110256** |

---

**Legend**

(a) Level 3 security.

(b) Non-income producing.

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

(d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $37,815,476 or 1.0% of net assets.

(e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(f) 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 $37,325,543 or 1.0% of net assets.

(g) 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 $25,764,084 or 0.7% of net assets.

(h) 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 $1,360,026 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(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>|
| Anthropic PBC Series F | 8/18/2025 | 3425514 |
| Anthropic PBC Series G | 1/27/2026 | 3135550 |
| Bytedance Ltd Series E1 | 11/18/2020 | 1580607 |
| Cerebras Systems Inc Series H | 1/30/2026 | 1468757 |
| Databricks Inc Series K | 9/8/2025 | 375000 |
| Databricks Inc Series L | 12/18/2025 | 4978000 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 1712900 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 1503523 |
| OpenAI Group Pbc Series A-3 | 8/4/2025 | 1274200 |
| Revolut Group Holdings Ltd | 12/27/2024 | 3423355 |
| Stripe Global Holdings Inc Series H | 3/15/2021 - 5/25/2023 | 1168520 |
| Vast Data Ltd | 2/27/2026 - 4/17/2026 | 1488972 |
| Vast Data Ltd Series B | 4/17/2026 | 329113 |
| Vast Data Ltd Series F | 2/27/2026 | 181782 |
| Waymo LLC Class B | 4/22/2026 | 65726 |
| Waymo LLC Series D-2 | 2/2/2026 | 230042 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| 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 | 25569862 | 526408334 | 518567004 | 465636 | (1794) | - | 33409398 | 33402717 | 0.1% |
| Fidelity Securities Lending Cash Central Fund | 17819217 | 217727941 | 228103286 | 168079 | (422) | - | 7443450 | 7442706 | 0.0% |
| Total | 43389079 | 744136275 | 746670290 | 633715 | (2216) | - | 40852848 |  |  |

---

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 | 394826656 | 370541578 | 24285078 | - |
| Consumer Discretionary | 419659953 | 357026116 | 62568109 | 65728 |
| Consumer Staples | 60885562 | 7356446 | 53529116 | - |
| Energy | 108931284 | 108931284 | - | - |
| Financials | 395679813 | 291019993 | 98141682 | 6518138 |
| Health Care | 304048370 | 284228388 | 19819982 | - |
| Industrials | 529547525 | 402956632 | 126590893 | - |
| Information Technology | 1328558851 | 1213118679 | 113742815 | 1697357 |
| Materials | 128555637 | 111099600 | 17456037 | - |
| Real Estate | 11508158 | 2165660 | 9342498 | - |
| Utilities | 20065400 | 20065400 | - | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 4349138 | - | - | 4349138 |
| Consumer Discretionary | 230048 | - | - | 230048 |
| Financials | 1834686 | - | - | 1834686 |
| Health Care | 835758 | - | - | 835758 |
| Industrials | 1369862 | - | - | 1369862 |
| Information Technology | 22914623 | - | 1980000 | 20934623 |
|  **Money Market Funds** | 40852848 | 40852848 | - | - |
| **Total Investments in Securities:** | 3774654172 | 3209362624 | 527456210 | 37835338 |

---

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value. Beginning balances have been updated to conform to current period presentation, as applicable.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Beginning Balance ($)** | **Net Realized Gain (Loss) on Investment Securities ($)** | **Net Unrealized Gain (Loss) on Investment Securities ($)** | **Cost of Purchases ($)** | **Proceeds of Sales ($)** | **Amortization/**<br> **Accretion ($)** | **Transfers into Level 3 ($)** | **Transfers out of Level 3 ($)** | **Ending Balance ($)** | **The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2026 ($)** |
| **Common Stocks** | 7776956 | - | 889626 | 3459506 | (3844865) | - | - | - | 8281223 | (446696) |
| **Convertible Preferred Stocks** | 11420460 | - | 7908702 | 11393473 | (1168520) | - | - | - | 29554115 | 7861962 |
| <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. | <br> The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in net gain (loss) on the Fund's Statement of Operations. |  |  |  |

---

**Fidelity® Worldwide 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 $57,287,401) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $2,517,180,848) | $3733801324 |  |
| Fidelity Central Funds (cost $40,852,330) | 40852848 |  |
| Total Investment in Securities (cost $2,558,033,178) |  | $3774654172 |
| Cash |  | 9839 |
| Foreign currency held at value (cost $62,574) |  | 63131 |
| Receivable for investments sold |  | 43637375 |
| Receivable for fund shares sold |  | 1242291 |
| Dividends receivable |  | 5743888 |
| Reclaims receivable |  | 4525325 |
| Distributions receivable from Fidelity Central Funds |  | 65661 |
| Prepaid expenses |  | 894 |
| Other receivables |  | 30088 |
| **Total assets** |  | 3829972664 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $57375948 |  |
| Delayed delivery | 279506 |  |
| Payable for fund shares redeemed | 1887978 |  |
| Accrued management fee | 2774761 |  |
| Distribution and service plan fees payable | 50724 |  |
| Other payables and accrued expenses | 50041 |  |
| Collateral on securities loaned | 7443450 |  |
| **Total liabilities** |  | 69862408 |
| **Net Assets**  |  | $3760110256 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $2296373417 |
| Total accumulated earnings (loss) |  | 1463736839 |
| **Net Assets** |  | $3760110256 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($155,454,558 ÷ 3,923,196 shares)(a) |  | $39.62 |
| Maximum offering price per share (100/94.25 of $39.62) |  | $42.04 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($26,087,592 ÷ 666,993 shares)(a) |  | $39.11 |
| Maximum offering price per share (100/96.50 of $39.11) |  | $40.53 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($11,885,420 ÷ 325,732 shares)(a) |  | $36.49 |
| **Worldwide :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($3,292,663,329 ÷ 81,041,650 shares) |  | $40.63 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($174,116,267 ÷ 4,331,990 shares) |  | $40.19 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($99,903,090 ÷ 2,446,584 shares) |  | $40.83 |
| *(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  |  | $23741398 |
| Income from Fidelity Central Funds (including $168,079 from security lending)  |  | 633715 |
| Security lending |  | 8916 |
| Income before foreign taxes withheld |  | $24384029 |
| Less foreign taxes withheld |  | (1138475) |
| **Total income** |  | 23245554 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $13226797 |  |
| Performance adjustment | 2461475 |  |
| Distribution and service plan fees | 294341 |  |
| Custodian fees and expenses | 46256 |  |
| Independent trustees' fees and expenses | 5499 |  |
| Registration fees | 96984 |  |
| Audit fees | 37437 |  |
| Legal | 5374 |  |
| Miscellaneous | 5552 |  |
| **Total expenses** |  | 16179715 |
| **Net Investment income (loss)** |  | 7065839 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 262286820 |  |
| Fidelity Central Funds | (2216) |  |
| Foreign currency transactions | (36132) |  |
| Total net realized gain (loss) |  | 262248472 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $93,469)  | 118421383 |  |
| Assets and liabilities in foreign currencies | 190186 |  |
| Total change in net unrealized appreciation (depreciation) |  | 118611569 |
| **Net gain (loss)** |  | 380860041 |
| **Net increase (decrease) in net assets resulting from operations** |  | $387925880 |

---

---

| | | |
|:---|:---|:---|
| **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) | $7065839 | $18570246 |
| &nbsp;&nbsp;Net realized gain (loss) | 262248472<br>| 379195025<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 118611569 | 171408529<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 387925880<br>| 569173800<br>|
| Distributions to shareholders | (364636193)<br>| (409305948)<br>|
| Share transactions - net increase (decrease) | 168072296<br>| 265210358<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 191361983<br>| 425078210<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 3568748273 | 3143670063<br>|
| &nbsp;&nbsp;End of period | $3760110256 | $3568748273 |

---

**Financial Highlights** 

**Fidelity Advisor® Worldwide 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  | $39.75 | $38.23 | $26.90 | $25.75 | $40.06 | $31.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .02  | .11  | .09  | .11  | .09  | (.13)  |
| Net realized and unrealized gain (loss)  | 3.95  | 6.42  | 11.44  | 2.52  | (9.90)  | 11.40  |
| Total from investment operations  | 3.97  | 6.53  | 11.53  | 2.63  | (9.81)  | 11.27  |
| Distributions from net investment income  | (.14)  | (.21)  | (.20)  | (.11)  | (.07)  | -  |
| Distributions from net realized gain  | (3.97)  | (4.80)  | -  | (1.37)  | (4.43)  | (2.70)  |
| Total distributions  | (4.10) C | (5.01)  | (.20)  | (1.48)  | (4.50)  | (2.70)  |
| Net asset value, end of period  | $39.62 | $39.75 | $38.23 | $26.90 | $25.75 | $40.06 |
| **Total Return** D,E,F | 11.29% <br>| 18.67%  | 43.09%  | 10.62%  | (27.31)%  | 37.72%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.20% I | 1.06%  | .99%  | .96%  | 1.21%  | 1.29%  |
| Expenses net of fee waivers, if any  | 1.20% I<br>| 1.06%  | .99%  | .95%  | 1.21%  | 1.28%  |
| Expenses net of all reductions, if any  | 1.20% I | 1.06%  | .99%  | .95%  | 1.21%  | 1.28%  |
| Net investment income (loss)  | .13% I | .30%  | .25%  | .41%  | .28%  | (.34)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $155455 | $139457 | $112959 | $73935 | $68608 | $99731 |
| Portfolio turnover rate J | 121% I<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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*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*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® Worldwide 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  | $39.23 | $37.79 | $26.60 | $25.44 | $39.62 | $31.19 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.02)  | .02  | - C | .04  | .01  | (.22)  |
| Net realized and unrealized gain (loss)  | 3.90  | 6.34  | 11.32  | 2.51  | (9.81)  | 11.29  |
| Total from investment operations  | 3.88  | 6.36  | 11.32  | 2.55  | (9.80)  | 11.07  |
| Distributions from net investment income  | (.03)  | (.13)  | (.13)  | (.02)  | -  | -  |
| Distributions from net realized gain  | (3.97)  | (4.80)  | -  | (1.37)  | (4.38)  | (2.64)  |
| Total distributions  | (4.00)  | (4.92) D | (.13)  | (1.39)  | (4.38)  | (2.64)  |
| Net asset value, end of period  | $39.11 | $39.23 | $37.79 | $26.60 | $25.44 | $39.62 |
| **Total Return** E,F,G | 11.15% <br>| 18.38%  | 42.69%  | 10.39%  | (27.53)%  | 37.37%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.45% J | 1.32%  | 1.24%  | 1.21%  | 1.47%  | 1.55%  |
| Expenses net of fee waivers, if any  | 1.45% J<br>| 1.32%  | 1.24%  | 1.21%  | 1.47%  | 1.55%  |
| Expenses net of all reductions, if any  | 1.45% J | 1.32%  | 1.24%  | 1.20%  | 1.47%  | 1.55%  |
| Net investment income (loss)  | (.12)% J | .05%  | -%  | .15%  | .02%  | (.61)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $26088 | $25120 | $23275 | $16051 | $15275 | $22771 |
| Portfolio turnover rate K | 121% J<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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

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

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*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® Worldwide 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  | $36.92 | $35.85 | $25.25 | $24.33 | $38.05 | $30.14 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.11)  | (.15)  | (.17)  | (.10)  | (.15)  | (.39)  |
| Net realized and unrealized gain (loss)  | 3.65  | 5.98  | 10.77  | 2.39  | (9.39)  | 10.88  |
| Total from investment operations  | 3.54  | 5.83  | 10.60  | 2.29  | (9.54)  | 10.49  |
| Distributions from net realized gain  | (3.97)  | (4.76)  | -  | (1.37)  | (4.18)  | (2.58)  |
| Total distributions  | (3.97)  | (4.76)  | -  | (1.37)  | (4.18)  | (2.58)  |
| Net asset value, end of period  | $36.49 | $36.92 | $35.85 | $25.25 | $24.33 | $38.05 |
| **Total Return** C,D,E | 10.90% <br>| 17.78%  | 41.98%  | 9.76%  | (27.89)%  | 36.63%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.95% H | 1.82%  | 1.74%  | 1.76%  | 2.00%  | 2.08%  |
| Expenses net of fee waivers, if any  | 1.95% H<br>| 1.82%  | 1.74%  | 1.75%  | 2.00%  | 2.08%  |
| Expenses net of all reductions, if any  | 1.95% H | 1.82%  | 1.74%  | 1.75%  | 2.00%  | 2.08%  |
| Net investment income (loss)  | (.62)% H | (.45)%  | (.51)%  | (.39)%  | (.51)%  | (1.14)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $11885 | $11685 | $10681 | $7292 | $8517 | $13602 |
| Portfolio turnover rate I | 121% H<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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® Worldwide 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  | $40.69 | $39.00 | $27.44 | $26.26 | $40.76 | $31.97 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .08  | .21  | .19  | .19  | .18  | (.02)  |
| Net realized and unrealized gain (loss)  | 4.05  | 6.58  | 11.66  | 2.57  | (10.09)  | 11.58  |
| Total from investment operations  | 4.13  | 6.79  | 11.85  | 2.76  | (9.91)  | 11.56  |
| Distributions from net investment income  | (.22)  | (.30)  | (.29)  | (.21)  | (.16)  | (.02)  |
| Distributions from net realized gain  | (3.97)  | (4.80)  | -  | (1.37)  | (4.43)  | (2.75)  |
| Total distributions  | (4.19)  | (5.10)  | (.29)  | (1.58)  | (4.59)  | (2.77)  |
| Net asset value, end of period  | $40.63 | $40.69 | $39.00 | $27.44 | $26.26 | $40.76 |
| **Total Return** C,D | 11.46% <br>| 19.02%  | 43.51%  | 10.95%  | (27.12)%  | 38.11%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .90% G | .77%  | .70%  | .67%  | .92%  | 1.00%  |
| Expenses net of fee waivers, if any  | .90% G<br>| .77%  | .70%  | .66%  | .92%  | 1.00%  |
| Expenses net of all reductions, if any  | .90% G | .77%  | .70%  | .66%  | .92%  | 1.00%  |
| Net investment income (loss)  | .42% G | .59%  | .54%  | .70%  | .57%  | (.06)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3292663 | $3105447 | $2836498 | $1982943 | $1899788 | $2896684 |
| Portfolio turnover rate H | 121% G<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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® Worldwide 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  | $40.30 | $38.69 | $27.23 | $26.04 | $40.46 | $31.77 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .20  | .18  | .19  | .17  | (.03)  |
| Net realized and unrealized gain (loss)  | 4.00  | 6.51  | 11.57  | 2.56  | (10.01)  | 11.49  |
| Total from investment operations  | 4.07  | 6.71  | 11.75  | 2.75  | (9.84)  | 11.46  |
| Distributions from net investment income  | (.21)  | (.31)  | (.29)  | (.19)  | (.16)  | (.02)  |
| Distributions from net realized gain  | (3.97)  | (4.80)  | -  | (1.37)  | (4.43)  | (2.75)  |
| Total distributions  | (4.18)  | (5.10) C | (.29)  | (1.56)  | (4.58) C | (2.77)  |
| Net asset value, end of period  | $40.19 | $40.30 | $38.69 | $27.23 | $26.04 | $40.46 |
| **Total Return** D,E | 11.41% <br>| 18.98%  | 43.45%  | 10.97%  | (27.13)%  | 38.06%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .95% H | .81%  | .73%  | .67%  | .94%  | 1.02%  |
| Expenses net of fee waivers, if any  | .95% H<br>| .81%  | .72%  | .67%  | .93%  | 1.02%  |
| Expenses net of all reductions, if any  | .95% H | .81%  | .72%  | .67%  | .93%  | 1.02%  |
| Net investment income (loss)  | .38% H | .55%  | .51%  | .69%  | .56%  | (.08)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $174116 | $167533 | $65286 | $41289 | $33226 | $86852 |
| Portfolio turnover rate I | 121% H<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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 Advisor® Worldwide 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  | $40.90 | $38.63 | $27.20 | $26.05 | $40.48 | $31.76 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .25  | .22  | .22  | .21  | .02  |
| Net realized and unrealized gain (loss)  | 4.07  | 6.57  | 11.55  | 2.55  | (10.01)  | 11.50  |
| Total from investment operations  | 4.16  | 6.82  | 11.77  | 2.77  | (9.80)  | 11.52  |
| Distributions from net investment income  | (.27)  | -  | (.34)  | (.25)  | (.20)  | (.05)  |
| Distributions from net realized gain  | (3.97)  | (4.55)  | -  | (1.37)  | (4.43)  | (2.75)  |
| Total distributions  | (4.23) C | (4.55)  | (.34)  | (1.62)  | (4.63)  | (2.80)  |
| Net asset value, end of period  | $40.83 | $40.90 | $38.63 | $27.20 | $26.05 | $40.48 |
| **Total Return** D,E | 11.50% <br>| 19.12%  | 43.63%  | 11.10%  | (27.05)%  | 38.27%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .83% H | .69%  | .62%  | .55%  | .81%  | .90%  |
| Expenses net of fee waivers, if any  | .83% H<br>| .69%  | .61%  | .55%  | .81%  | .90%  |
| Expenses net of all reductions, if any  | .83% H | .69%  | .61%  | .55%  | .81%  | .90%  |
| Net investment income (loss)  | .49% H | .67%  | .62%  | .81%  | .68%  | .04%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $99903 | $119507 | $94971 | $117232 | $76829 | $115963 |
| Portfolio turnover rate I | 121% H<br>| 144%  | 108%  | 114%  | 137%  | 96%  |

---

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.*

**Notes to Financial Statements (Unaudited)**

For the period ended April 30, 2026

**1. Organization.**

Fidelity Worldwide 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, Worldwide, 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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset Type** | **Fair Value** | **Valuation Technique(s)** | **Unobservable Input** | **Amount or Range/Weighted Average** | **Impact to Valuation from an Increase in InputA** |
| Convertible Preferred Stocks | $29554115 | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 2.0 - 33.2 / 14.5 | Increase |
|  |  | Market approach  | Transaction price  | $15.40  | Increase |
|  |  |  | Discount rate | 25.0% | Decrease |
|  |  | Black scholes  | Discount rate  | 3.8% - 4.0% / 3.9% | Increase |
|  |  |  | Term  | 3.0 - 5.0 / 4.2 | Increase |
|  |  |  | Volatility  | 60.0% - 90.0% / 78.6% | Increase |
| Common Stocks | $8281223 | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 1.3 - 32.0 / 21.7 | Increase |
|  |  |  | Enterprise value/Net income (EV/NI)  | 30.0 | Increase |
|  |  | Recovery value | Recovery value  | $0.00  | Increase |
|  |  | Black scholes  | Discount rate  | 2.4% | Increase |
|  |  |  | Term | 2.0 | Increase |
|  |  |  | Volatility | 75.0% | Increase |

---

*A Represents the directional change in the fair value of the Level 3 investments that could have resulted from an increase in the corresponding input as of period end. A decrease to the unobservable input would have had the opposite effect. Significant changes in these inputs may have resulted in a significantly higher or lower fair value measurement at period end.* 

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, as well as a roll forward of Level 3 investments, 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 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) 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** | $1296956850 |
| **Gross unrealized depreciation** | <u>(100737844)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$1196219006</u> |
| **Tax cost** | <u>$2578435166</u> |

---

**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 Worldwide Fund** | 2116395622 | 2296317513 |

---

**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** | .83 |
| **Class M** | .84 |
| **Class C** | .84 |
| **Worldwide** | .79 |
| **Class I** | .81 |
| **Class Z** | .69 |

---

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** | .80 |
| **Class M** | .80 |
| **Class C** | .80 |
| **Worldwide** | .75 |
| **Class I** | .80 |
| **Class Z** | .68 |

---

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 Worldwide Fund** | MSCI World Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Worldwide. 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 ±.20% 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 .14%.

**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% | 176527 | 4982 |
| **Class M** | .25% | .25% | 61606 | 629 |
| **Class C** | .75% | .25% | <u>56208</u> | <u>7589</u> |
|  |  |  | <u>294341</u> | <u>13200</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** | 39334 |
| **Class M** | 597 |
| **Class C**A | <u>47</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>39978</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 Worldwide Fund** | 19883 |

---

**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 Worldwide Fund** | 106884152 | 196194808 | 13663729 |

---

**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 Worldwide Fund** | 2204 |

---

**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 Worldwide Fund** | 18574 | - | - |

---

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 Worldwide Fund** | 50920604 |

---

**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 Worldwide Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $14391970 | $15054941 |
| Class M | 2525415 | 3022125 |
| Class C | 1233719 | 1421317 |
| Worldwide | 316478876 | 370044974 |
| Class I | 17250587 | 8710115 |
| Class Z | <u>12755626</u> | <u>11052476</u> |
| Total  | <u>$364636193</u> | <u>$409305948</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 Worldwide Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 267868 | 660436 | $9828322 | $23210461 |
| Reinvestment of distributions  | 403808 | 421629 | 14209992 | 14950974 |
| Shares redeemed | <u>(256693)</u> | <u>(528604)</u> | <u>(9402574)</u> | <u>(18660279)</u> |
| Net increase (decrease) | <u>414983</u> | <u>553461</u> | <u>$14635740</u> | <u>$19501156</u> |
| **Class M** |  |  |  |  |
| Shares sold | 15881 | 73613 | $585720 | $2522447 |
| Reinvestment of distributions  | 72017 | 85853 | 2504032 | 3010850 |
| Shares redeemed | <u>(61200)</u> | <u>(135006)</u> | <u>(2231934)</u> | <u>(4664442)</u> |
| Net increase (decrease) | <u>26698</u> | <u>24460</u> | <u>$857818</u> | <u>$868855</u> |
| **Class C** |  |  |  |  |
| Shares sold | 24550 | 53108 | $823220 | $1728482 |
| Reinvestment of distributions  | 37272 | 42052 | 1210977 | 1394017 |
| Shares redeemed | <u>(52545)</u> | <u>(76633)</u> | <u>(1784932)</u> | <u>(2520638)</u> |
| Net increase (decrease) | <u>9277</u> | <u>18527</u> | <u>$249265</u> | <u>$601861</u> |
| **Worldwide** |  |  |  |  |
| Shares sold | 4490570 | 11125071 | $169358496 | $406856229 |
| Reinvestment of distributions  | 8213813 | 9586818 | 296025827 | 347042795 |
| Shares redeemed | <u>(7985614)</u> | <u>(17123914)</u> | <u>(301252674)</u> | <u>(612724839)</u> |
| Net increase (decrease) | <u>4718769</u> | <u>3587975</u> | <u>$164131649</u> | <u>$141174185</u> |
| **Class I** |  |  |  |  |
| Shares sold | 349059 | 3083198 | $12945496 | $107745451 |
| Reinvestment of distributions  | 474503 | 240155 | 16920770 | 8611970 |
| Shares redeemed | <u>(649220)</u> | <u>(853180)</u> | <u>(23899890)</u> | <u>(29566477)</u> |
| Net increase (decrease) | <u>174342</u> | <u>2470173</u> | <u>$5966376</u> | <u>$86790944</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 406193 | 1171013 | $15572874 | $42221273 |
| Reinvestment of distributions  | 323276 | 287410 | 11705839 | 10453118 |
| Shares redeemed | <u>(1204554)</u> | <u>(995033)</u> | <u>(45047265)</u> | <u>(36401034)</u> |
| Net increase (decrease) | <u>(475085)</u> | <u>463390</u> | <u>$(17768552)</u> | <u>$16273357</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.

**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.

![](img131291_4.jpg)<br>

1.703569.128 IBD-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](ex99906cert.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

---

| | |
|:---|:---|
| &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 |

---

## Ex-99.Cert

&nbsp;&nbsp;&nbsp;&nbsp;<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

---

| |
|:---|
| &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) |

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## 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) |

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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) |

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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.

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