# EDGAR Filing Document

**Accession Number:** 0000729218
**File Stem:** 0000729218-26-000007
**Filing Date:** 2026-6
**Character Count:** 549671
**Document Hash:** d073bdd43bfa13ade32b235c9693be54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000729218-26-000007.hdr.sgml**: 20260622

**ACCESSION NUMBER**: 0000729218-26-000007

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 68

**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 ADVISOR SERIES VIII
- **CENTRAL INDEX KEY:** 0000729218

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03855
- **FILM NUMBER:** 261105547

**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 SPECIAL SITUATIONS FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Fidelity Advisor Diversified International Fund (Series ID: S000005432)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014776 | Class A      | FDVAX           |
| C000014778 | Class C      | FADCX           |
| C000014779 | Class M      | FADIX           |
| C000014780 | Class I      | FDVIX           |
| C000130139 | Class Z      | FZABX           |

### Fidelity Advisor Emerging Asia Fund (Series ID: S000005436)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014796 | Class A      | FEAAX           |
| C000014798 | Class C      | FERCX           |
| C000014799 | Class M      | FEATX           |
| C000014800 | Class I      | FERIX           |
| C000205050 | Class Z      | FIQPX           |

### Fidelity Advisor Focused Emerging Markets Fund (Series ID: S000005437)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014801 | Class A      | FAMKX           |
| C000014803 | Class C      | FMCKX           |
| C000014804 | Class M      | FTMKX           |
| C000014805 | Class I      | FIMKX           |
| C000130140 | Class Z      | FZAEX           |

### Fidelity Advisor Global Capital Appreciation Fund (Series ID: S000005440)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000014816 | Class A      | FGEAX           |
| C000014818 | Class C      | FEUCX           |
| C000014819 | Class M      | FGETX           |
| C000014820 | Class I      | FEUIX           |

### Fidelity Advisor International Capital Appreciation Fund (Series ID: S000005441)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000014821 | Class A                                          | FCPAX           |
| C000014823 | Class C                                          | FCPCX           |
| C000014824 | Class M                                          | FIATX           |
| C000014825 | Class I                                          | FCPIX           |
| C000177523 | Class Z                                          | FIDZX           |
| C000259428 | Fidelity International Capital Appreciation Fund | FICQX           |

?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>811-03855</u>

<u>Fidelity Advisor Series VIII</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>

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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  | 0.62% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131070_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> 1.9915626.101 2886-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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  | $63  | 1.23% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131071_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> 1.9915628.101 292-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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  | 0.73% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131072_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> 1.9915627.101 291-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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  | $88  | 1.73% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131073_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> 1.9915624.101 281-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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  | 0.98% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131074_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> 1.9915625.101 288-TSRS-0626 <br>|

---

---

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

---

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

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

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $79  | 1.55% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $176426894<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 86%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.3 |
| Industrials | 16.6 |
| Financials | 15.1 |
| Communication Services | 8.8 |
| Consumer Discretionary | 6.7 |
| Health Care | 5.0 |
| Energy | 4.7 |
| Materials | 1.7 |
| Consumer Staples | 1.3 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img751_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 - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.8 |

---

---

| | |
|:---|:---|
| United States | 67.5 |
| Taiwan | 4.7 |
| Korea (South) | 4.4 |
| Japan | 4.4 |
| China | 3.5 |
| United Kingdom | 2.9 |
| Germany | 2.4 |
| Spain | 2.1 |
| Canada | 1.6 |
| Others | 6.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img751_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 67.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Japan - 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;China - 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;United Kingdom - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| NVIDIA Corp | 7.2<br>|
| Alphabet Inc Class A | 5.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 4.7<br>|
| SK Hynix Inc | 4.4<br>|
| Amazon.com Inc | 3.7<br>|
| Amphenol Corp Class A | 2.9<br>|
| Westinghouse Air Brake Technologies Corp | 2.4<br>|
| Seagate Technology Holdings PLC | 2.3<br>|
| Broadcom Inc | 2.3<br>|
| EMCOR Group Inc | 2.2<br>|
|  | 37.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img751_20260430_1.jpg)<br>| ![](img131080_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> 1.9915705.101 755-TSRS-0626 <br>|

---

---

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

---

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

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

(based on hypothetical $10,000 investment)

---

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

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $176426894<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 86%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.3 |
| Industrials | 16.6 |
| Financials | 15.1 |
| Communication Services | 8.8 |
| Consumer Discretionary | 6.7 |
| Health Care | 5.0 |
| Energy | 4.7 |
| Materials | 1.7 |
| Consumer Staples | 1.3 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img751_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 - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.8 |

---

---

| | |
|:---|:---|
| United States | 67.5 |
| Taiwan | 4.7 |
| Korea (South) | 4.4 |
| Japan | 4.4 |
| China | 3.5 |
| United Kingdom | 2.9 |
| Germany | 2.4 |
| Spain | 2.1 |
| Canada | 1.6 |
| Others | 6.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img751_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 67.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Japan - 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;China - 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;United Kingdom - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| NVIDIA Corp | 7.2<br>|
| Alphabet Inc Class A | 5.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 4.7<br>|
| SK Hynix Inc | 4.4<br>|
| Amazon.com Inc | 3.7<br>|
| Amphenol Corp Class A | 2.9<br>|
| Westinghouse Air Brake Technologies Corp | 2.4<br>|
| Seagate Technology Holdings PLC | 2.3<br>|
| Broadcom Inc | 2.3<br>|
| EMCOR Group Inc | 2.2<br>|
|  | 37.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img751_20260430_1.jpg)<br>| ![](img131081_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> 1.9915704.101 754-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Global Capital Appreciation 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  | $105  | 2.05% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $176426894<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 86%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.3 |
| Industrials | 16.6 |
| Financials | 15.1 |
| Communication Services | 8.8 |
| Consumer Discretionary | 6.7 |
| Health Care | 5.0 |
| Energy | 4.7 |
| Materials | 1.7 |
| Consumer Staples | 1.3 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img751_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 - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.8 |

---

---

| | |
|:---|:---|
| United States | 67.5 |
| Taiwan | 4.7 |
| Korea (South) | 4.4 |
| Japan | 4.4 |
| China | 3.5 |
| United Kingdom | 2.9 |
| Germany | 2.4 |
| Spain | 2.1 |
| Canada | 1.6 |
| Others | 6.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img751_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 67.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Japan - 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;China - 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;United Kingdom - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| NVIDIA Corp | 7.2<br>|
| Alphabet Inc Class A | 5.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 4.7<br>|
| SK Hynix Inc | 4.4<br>|
| Amazon.com Inc | 3.7<br>|
| Amphenol Corp Class A | 2.9<br>|
| Westinghouse Air Brake Technologies Corp | 2.4<br>|
| Seagate Technology Holdings PLC | 2.3<br>|
| Broadcom Inc | 2.3<br>|
| EMCOR Group Inc | 2.2<br>|
|  | 37.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img751_20260430_1.jpg)<br>| ![](img131082_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> 1.9915703.101 753-TSRS-0626 <br>|

---

---

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

---

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

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

(based on hypothetical $10,000 investment)

---

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

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $176426894<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 86%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 36.3 |
| Industrials | 16.6 |
| Financials | 15.1 |
| Communication Services | 8.8 |
| Consumer Discretionary | 6.7 |
| Health Care | 5.0 |
| Energy | 4.7 |
| Materials | 1.7 |
| Consumer Staples | 1.3 |

---

Common Stocks 95.8 <br> Preferred Stocks 0.4 <br> Short-Term Investments and Net Other Assets (Liabilities) 3.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img751_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 - 0.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 3.8 |

---

---

| | |
|:---|:---|
| United States | 67.5 |
| Taiwan | 4.7 |
| Korea (South) | 4.4 |
| Japan | 4.4 |
| China | 3.5 |
| United Kingdom | 2.9 |
| Germany | 2.4 |
| Spain | 2.1 |
| Canada | 1.6 |
| Others | 6.5 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img751_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;United States - 67.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Taiwan - 4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Korea (South) - 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Japan - 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;China - 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;United Kingdom - 2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Canada - 1.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Others - 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; |

---

---

| | |
|:---|:---|
| **TOP HOLDINGS**<br>**(% of Fund's net assets)**  |  |
| NVIDIA Corp | 7.2<br>|
| Alphabet Inc Class A | 5.1<br>|
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 4.7<br>|
| SK Hynix Inc | 4.4<br>|
| Amazon.com Inc | 3.7<br>|
| Amphenol Corp Class A | 2.9<br>|
| Westinghouse Air Brake Technologies Corp | 2.4<br>|
| Seagate Technology Holdings PLC | 2.3<br>|
| Broadcom Inc | 2.3<br>|
| EMCOR Group Inc | 2.2<br>|
|  | 37.2 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img751_20260430_1.jpg)<br>| ![](img131083_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> 1.9915702.101 751-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Focused 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  | $43  | 0.78% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12475458273<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 54%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.2 |
| Financials | 21.4 |
| Industrials | 12.2 |
| Communication Services | 8.6 |
| Materials | 7.7 |
| Consumer Discretionary | 6.4 |
| Energy | 5.1 |
| Health Care | 3.5 |
| Consumer Staples | 2.1 |

---

Common Stocks 98.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1286_20260430_AA.jpg) <br>|

---

Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.8 <br>

---

| | |
|:---|:---|
| China | 24.0 |
| Taiwan | 22.2 |
| Korea (South) | 11.7 |
| India | 7.1 |
| Mexico | 4.8 |
| South Africa | 3.3 |
| Hungary | 3.1 |
| United States | 3.0 |
| Saudi Arabia | 2.8 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1286_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 24.0&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 - 22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.1&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;Mexico - 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;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;Hungary - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;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;Saudi Arabia - 2.8&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 10.3<br>|
| Samsung Electronics Co Ltd | 9.2<br>|
| Tencent Holdings Ltd | 5.0<br>|
| MediaTek Inc | 4.1<br>|
| Delta Electronics Inc | 2.8<br>|
| Larsen & Toubro Ltd | 2.2<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| America Movil SAB de CV ADR | 2.1<br>|
| Yageo Corp | 2.0<br>|
| Credicorp Ltd | 2.0<br>|
|  | 41.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1286_20260430_1.jpg)<br>| ![](img131084_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> 1.9915725.101 2530-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Focused 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  | $76  | 1.40% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12475458273<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 54%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.2 |
| Financials | 21.4 |
| Industrials | 12.2 |
| Communication Services | 8.6 |
| Materials | 7.7 |
| Consumer Discretionary | 6.4 |
| Energy | 5.1 |
| Health Care | 3.5 |
| Consumer Staples | 2.1 |

---

Common Stocks 98.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1286_20260430_AA.jpg) <br>|

---

Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.8 <br>

---

| | |
|:---|:---|
| China | 24.0 |
| Taiwan | 22.2 |
| Korea (South) | 11.7 |
| India | 7.1 |
| Mexico | 4.8 |
| South Africa | 3.3 |
| Hungary | 3.1 |
| United States | 3.0 |
| Saudi Arabia | 2.8 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1286_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 24.0&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 - 22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.1&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;Mexico - 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;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;Hungary - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;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;Saudi Arabia - 2.8&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 10.3<br>|
| Samsung Electronics Co Ltd | 9.2<br>|
| Tencent Holdings Ltd | 5.0<br>|
| MediaTek Inc | 4.1<br>|
| Delta Electronics Inc | 2.8<br>|
| Larsen & Toubro Ltd | 2.2<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| America Movil SAB de CV ADR | 2.1<br>|
| Yageo Corp | 2.0<br>|
| Credicorp Ltd | 2.0<br>|
|  | 41.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1286_20260430_1.jpg)<br>| ![](img131085_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> 1.9915723.101 1289-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Focused 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  | $49  | 0.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12475458273<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 54%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.2 |
| Financials | 21.4 |
| Industrials | 12.2 |
| Communication Services | 8.6 |
| Materials | 7.7 |
| Consumer Discretionary | 6.4 |
| Energy | 5.1 |
| Health Care | 3.5 |
| Consumer Staples | 2.1 |

---

Common Stocks 98.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1286_20260430_AA.jpg) <br>|

---

Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.8 <br>

---

| | |
|:---|:---|
| China | 24.0 |
| Taiwan | 22.2 |
| Korea (South) | 11.7 |
| India | 7.1 |
| Mexico | 4.8 |
| South Africa | 3.3 |
| Hungary | 3.1 |
| United States | 3.0 |
| Saudi Arabia | 2.8 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1286_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 24.0&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 - 22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.1&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;Mexico - 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;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;Hungary - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;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;Saudi Arabia - 2.8&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 10.3<br>|
| Samsung Electronics Co Ltd | 9.2<br>|
| Tencent Holdings Ltd | 5.0<br>|
| MediaTek Inc | 4.1<br>|
| Delta Electronics Inc | 2.8<br>|
| Larsen & Toubro Ltd | 2.2<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| America Movil SAB de CV ADR | 2.1<br>|
| Yageo Corp | 2.0<br>|
| Credicorp Ltd | 2.0<br>|
|  | 41.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1286_20260430_1.jpg)<br>| ![](img131086_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> 1.9915724.101 1290-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Focused 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  | $103  | 1.90% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12475458273<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 54%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.2 |
| Financials | 21.4 |
| Industrials | 12.2 |
| Communication Services | 8.6 |
| Materials | 7.7 |
| Consumer Discretionary | 6.4 |
| Energy | 5.1 |
| Health Care | 3.5 |
| Consumer Staples | 2.1 |

---

Common Stocks 98.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1286_20260430_AA.jpg) <br>|

---

Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.8 <br>

---

| | |
|:---|:---|
| China | 24.0 |
| Taiwan | 22.2 |
| Korea (South) | 11.7 |
| India | 7.1 |
| Mexico | 4.8 |
| South Africa | 3.3 |
| Hungary | 3.1 |
| United States | 3.0 |
| Saudi Arabia | 2.8 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1286_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 24.0&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 - 22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.1&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;Mexico - 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;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;Hungary - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;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;Saudi Arabia - 2.8&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 10.3<br>|
| Samsung Electronics Co Ltd | 9.2<br>|
| Tencent Holdings Ltd | 5.0<br>|
| MediaTek Inc | 4.1<br>|
| Delta Electronics Inc | 2.8<br>|
| Larsen & Toubro Ltd | 2.2<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| America Movil SAB de CV ADR | 2.1<br>|
| Yageo Corp | 2.0<br>|
| Credicorp Ltd | 2.0<br>|
|  | 41.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1286_20260430_1.jpg)<br>| ![](img131087_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> 1.9915722.101 1288-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® Focused 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  | $62  | 1.15% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $12475458273<br>|
| Number of Holdings | 62<br>|
| Portfolio Turnover | 54%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 31.2 |
| Financials | 21.4 |
| Industrials | 12.2 |
| Communication Services | 8.6 |
| Materials | 7.7 |
| Consumer Discretionary | 6.4 |
| Energy | 5.1 |
| Health Care | 3.5 |
| Consumer Staples | 2.1 |

---

Common Stocks 98.2 <br> Short-Term Investments and Net Other Assets (Liabilities) 1.8

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img1286_20260430_AA.jpg) <br>|

---

Common Stocks - 98.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Short-Term Investments and Net Other Assets (Liabilities) - 1.8 <br>

---

| | |
|:---|:---|
| China | 24.0 |
| Taiwan | 22.2 |
| Korea (South) | 11.7 |
| India | 7.1 |
| Mexico | 4.8 |
| South Africa | 3.3 |
| Hungary | 3.1 |
| United States | 3.0 |
| Saudi Arabia | 2.8 |
| Others | 18.0 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img1286_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 24.0&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 - 22.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.1&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;Mexico - 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;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;Hungary - 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;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;Saudi Arabia - 2.8&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)**  |  |
| Taiwan Semiconductor Manufacturing Co Ltd | 10.3<br>|
| Samsung Electronics Co Ltd | 9.2<br>|
| Tencent Holdings Ltd | 5.0<br>|
| MediaTek Inc | 4.1<br>|
| Delta Electronics Inc | 2.8<br>|
| Larsen & Toubro Ltd | 2.2<br>|
| China Construction Bank Corp H Shares | 2.1<br>|
| America Movil SAB de CV ADR | 2.1<br>|
| Yageo Corp | 2.0<br>|
| Credicorp Ltd | 2.0<br>|
|  | 41.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img1286_20260430_1.jpg)<br>| ![](img131088_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> 1.9915721.101 1286-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 0.79% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $718365445<br>|
| Number of Holdings | 72<br>|
| Portfolio Turnover | 103%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.8 |
| Industrials | 16.3 |
| Financials | 12.5 |
| Consumer Discretionary | 8.1 |
| Communication Services | 6.2 |
| Materials | 5.0 |
| Health Care | 3.2 |
| Consumer Staples | 1.9 |
| Energy | 1.8 |

---

Common Stocks 92.8 <br> Preferred Stocks 5.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img756_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.2 |

---

---

| | |
|:---|:---|
| China | 31.7 |
| Taiwan | 30.2 |
| Korea (South) | 21.2 |
| India | 7.0 |
| Singapore | 3.3 |
| United States | 2.6 |
| Hong Kong | 1.6 |
| Indonesia | 1.3 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img756_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 31.7&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 - 30.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 21.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.0&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;Singapore - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 2.6&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 - 1.3&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;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 | 17.0<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.4<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Samsung Electronics Co Ltd | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.1<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 2.0<br>|
| LS Electric Co Ltd | 1.8<br>|
|  | 43.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img756_20260430_1.jpg)<br>| ![](img131095_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> 1.9915706.101 3274-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

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

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class M  | $79  | 1.45% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $718365445<br>|
| Number of Holdings | 72<br>|
| Portfolio Turnover | 103%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.8 |
| Industrials | 16.3 |
| Financials | 12.5 |
| Consumer Discretionary | 8.1 |
| Communication Services | 6.2 |
| Materials | 5.0 |
| Health Care | 3.2 |
| Consumer Staples | 1.9 |
| Energy | 1.8 |

---

Common Stocks 92.8 <br> Preferred Stocks 5.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img756_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.2 |

---

---

| | |
|:---|:---|
| China | 31.7 |
| Taiwan | 30.2 |
| Korea (South) | 21.2 |
| India | 7.0 |
| Singapore | 3.3 |
| United States | 2.6 |
| Hong Kong | 1.6 |
| Indonesia | 1.3 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img756_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 31.7&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 - 30.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 21.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.0&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;Singapore - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 2.6&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 - 1.3&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;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 | 17.0<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.4<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Samsung Electronics Co Ltd | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.1<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 2.0<br>|
| LS Electric Co Ltd | 1.8<br>|
|  | 43.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img756_20260430_1.jpg)<br>| ![](img131096_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> 1.9915710.101 760-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 0.93% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $718365445<br>|
| Number of Holdings | 72<br>|
| Portfolio Turnover | 103%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.8 |
| Industrials | 16.3 |
| Financials | 12.5 |
| Consumer Discretionary | 8.1 |
| Communication Services | 6.2 |
| Materials | 5.0 |
| Health Care | 3.2 |
| Consumer Staples | 1.9 |
| Energy | 1.8 |

---

Common Stocks 92.8 <br> Preferred Stocks 5.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img756_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.2 |

---

---

| | |
|:---|:---|
| China | 31.7 |
| Taiwan | 30.2 |
| Korea (South) | 21.2 |
| India | 7.0 |
| Singapore | 3.3 |
| United States | 2.6 |
| Hong Kong | 1.6 |
| Indonesia | 1.3 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img756_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 31.7&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 - 30.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 21.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.0&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;Singapore - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 2.6&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 - 1.3&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;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 | 17.0<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.4<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Samsung Electronics Co Ltd | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.1<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 2.0<br>|
| LS Electric Co Ltd | 1.8<br>|
|  | 43.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img756_20260430_1.jpg)<br>| ![](img131097_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> 1.9915709.101 759-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

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

(based on hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Class C  | $106  | 1.94% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $718365445<br>|
| Number of Holdings | 72<br>|
| Portfolio Turnover | 103%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.8 |
| Industrials | 16.3 |
| Financials | 12.5 |
| Consumer Discretionary | 8.1 |
| Communication Services | 6.2 |
| Materials | 5.0 |
| Health Care | 3.2 |
| Consumer Staples | 1.9 |
| Energy | 1.8 |

---

Common Stocks 92.8 <br> Preferred Stocks 5.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img756_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.2 |

---

---

| | |
|:---|:---|
| China | 31.7 |
| Taiwan | 30.2 |
| Korea (South) | 21.2 |
| India | 7.0 |
| Singapore | 3.3 |
| United States | 2.6 |
| Hong Kong | 1.6 |
| Indonesia | 1.3 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img756_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 31.7&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 - 30.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 21.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.0&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;Singapore - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 2.6&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 - 1.3&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;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 | 17.0<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.4<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Samsung Electronics Co Ltd | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.1<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 2.0<br>|
| LS Electric Co Ltd | 1.8<br>|
|  | 43.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img756_20260430_1.jpg)<br>| ![](img131098_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> 1.9915708.101 758-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 1.20% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $718365445<br>|
| Number of Holdings | 72<br>|
| Portfolio Turnover | 103%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Information Technology | 42.8 |
| Industrials | 16.3 |
| Financials | 12.5 |
| Consumer Discretionary | 8.1 |
| Communication Services | 6.2 |
| Materials | 5.0 |
| Health Care | 3.2 |
| Consumer Staples | 1.9 |
| Energy | 1.8 |

---

Common Stocks 92.8 <br> Preferred Stocks 5.0 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.2

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img756_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 92.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| Preferred Stocks - 5.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Short-Term Investments and Net Other Assets (Liabilities) - 2.2 |

---

---

| | |
|:---|:---|
| China | 31.7 |
| Taiwan | 30.2 |
| Korea (South) | 21.2 |
| India | 7.0 |
| Singapore | 3.3 |
| United States | 2.6 |
| Hong Kong | 1.6 |
| Indonesia | 1.3 |
| Philippines | 1.1 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img756_20260430_GD.jpg) <br>|

---

---

| |
|:---|
| &nbsp;&nbsp;China - 31.7&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 - 30.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Korea (South) - 21.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;India - 7.0&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;Singapore - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 2.6&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 - 1.3&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;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 | 17.0<br>|
| Tencent Holdings Ltd | 4.6<br>|
| Samsung Electronics Co Ltd non-voting shares | 4.4<br>|
| SK Square Co Ltd | 4.0<br>|
| MediaTek Inc | 2.7<br>|
| Samsung Electronics Co Ltd | 2.7<br>|
| Delta Electronics Inc | 2.5<br>|
| Contemporary Amperex Technology Co Ltd A Shares (China) | 2.1<br>|
| Ping An Insurance Group Co of China Ltd H Shares | 2.0<br>|
| LS Electric Co Ltd | 1.8<br>|
|  | 43.8 |

---

---

| | | |
|:---|:---|:---|
| 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. |
| ![](img756_20260430_1.jpg)<br>| ![](img131099_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> 1.9915707.101 756-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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 | $1724046590<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 49%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 26.1 |
| Industrials | 23.6 |
| Information Technology | 15.6 |
| Health Care | 7.9 |
| Materials | 7.6 |
| Consumer Discretionary | 6.7 |
| Energy | 4.2 |
| Consumer Staples | 3.1 |
| Utilities | 2.2 |
| Communication Services | 0.7 |

---

Common Stocks 96.9 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img731_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.9&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) - 2.3 |

---

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 15.1 |
| United States | 10.6 |
| Germany | 8.8 |
| Spain | 5.0 |
| France | 4.9 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.9 |
| Others | 22.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img731_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 - 15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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 - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.4&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 - 3.9&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 - 22.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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>|
| Schneider Electric SE | 1.9<br>|
| Lloyds Banking Group PLC | 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. |
| ![](img731_20260430_1.jpg)<br>| ![](img131100_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> 1.9915697.101 2527-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 1.34% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1724046590<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 49%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 26.1 |
| Industrials | 23.6 |
| Information Technology | 15.6 |
| Health Care | 7.9 |
| Materials | 7.6 |
| Consumer Discretionary | 6.7 |
| Energy | 4.2 |
| Consumer Staples | 3.1 |
| Utilities | 2.2 |
| Communication Services | 0.7 |

---

Common Stocks 96.9 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img731_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.9&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) - 2.3 |

---

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 15.1 |
| United States | 10.6 |
| Germany | 8.8 |
| Spain | 5.0 |
| France | 4.9 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.9 |
| Others | 22.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img731_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 - 15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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 - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.4&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 - 3.9&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 - 22.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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>|
| Schneider Electric SE | 1.9<br>|
| Lloyds Banking Group PLC | 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. |
| ![](img731_20260430_1.jpg)<br>| ![](img131101_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> 1.9915701.101 735-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 0.84% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1724046590<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 49%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 26.1 |
| Industrials | 23.6 |
| Information Technology | 15.6 |
| Health Care | 7.9 |
| Materials | 7.6 |
| Consumer Discretionary | 6.7 |
| Energy | 4.2 |
| Consumer Staples | 3.1 |
| Utilities | 2.2 |
| Communication Services | 0.7 |

---

Common Stocks 96.9 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img731_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.9&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) - 2.3 |

---

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 15.1 |
| United States | 10.6 |
| Germany | 8.8 |
| Spain | 5.0 |
| France | 4.9 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.9 |
| Others | 22.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img731_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 - 15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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 - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.4&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 - 3.9&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 - 22.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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>|
| Schneider Electric SE | 1.9<br>|
| Lloyds Banking Group PLC | 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. |
| ![](img731_20260430_1.jpg)<br>| ![](img131102_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> 1.9915700.101 734-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 1.84% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1724046590<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 49%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 26.1 |
| Industrials | 23.6 |
| Information Technology | 15.6 |
| Health Care | 7.9 |
| Materials | 7.6 |
| Consumer Discretionary | 6.7 |
| Energy | 4.2 |
| Consumer Staples | 3.1 |
| Utilities | 2.2 |
| Communication Services | 0.7 |

---

Common Stocks 96.9 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img731_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.9&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) - 2.3 |

---

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 15.1 |
| United States | 10.6 |
| Germany | 8.8 |
| Spain | 5.0 |
| France | 4.9 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.9 |
| Others | 22.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img731_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 - 15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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 - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.4&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 - 3.9&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 - 22.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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>|
| Schneider Electric SE | 1.9<br>|
| Lloyds Banking Group PLC | 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. |
| ![](img731_20260430_1.jpg)<br>| ![](img131103_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> 1.9915699.101 733-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® 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 1-877-208-0098 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  | 1.09% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $1724046590<br>|
| Number of Holdings | 152<br>|
| Portfolio Turnover | 49%<br>|

---

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

---

| | |
|:---|:---|
| **MARKET SECTORS**<br> **(% of Fund's net assets)** |  |
| Financials | 26.1 |
| Industrials | 23.6 |
| Information Technology | 15.6 |
| Health Care | 7.9 |
| Materials | 7.6 |
| Consumer Discretionary | 6.7 |
| Energy | 4.2 |
| Consumer Staples | 3.1 |
| Utilities | 2.2 |
| Communication Services | 0.7 |

---

Common Stocks 96.9 <br> Preferred Stocks 0.8 <br> Short-Term Investments and Net Other Assets (Liabilities) 2.3

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img731_20260430_AA.jpg) <br>|

---

---

| |
|:---|
| Common Stocks - 96.9&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) - 2.3 |

---

---

| | |
|:---|:---|
| Japan | 20.2 |
| United Kingdom | 15.1 |
| United States | 10.6 |
| Germany | 8.8 |
| Spain | 5.0 |
| France | 4.9 |
| Italy | 4.4 |
| Netherlands | 4.2 |
| Canada | 3.9 |
| Others | 22.9 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img731_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 - 15.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;United States - 10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Germany - 8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| &nbsp;&nbsp;Spain - 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 - 4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; |
| &nbsp;&nbsp;Italy - 4.4&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 - 3.9&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 - 22.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |

---

---

| | |
|:---|:---|
| **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>|
| Schneider Electric SE | 1.9<br>|
| Lloyds Banking Group PLC | 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. |
| ![](img731_20260430_1.jpg)<br>| ![](img131104_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> 1.9915698.101 731-TSRS-0626 <br>|

---

---

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

---

This semi-annual shareholder report contains information about Fidelity Advisor® International Capital Appreciation 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 Capital Appreciation Fund  | $35  | 0.69% |

---

**Key Fund Statistics**

(as of April 30, 2026)

---

| | |
|:---|:---|
| **KEY FACTS**  |  |
| Fund Size | $16250767968<br>|
| Number of Holdings | 64<br>|
| Portfolio Turnover | 135%<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 | 24.2 |
| Materials | 6.7 |
| Consumer Staples | 3.2 |
| Consumer Discretionary | 2.7 |
| Utilities | 1.8 |
| Communication Services | 1.3 |

---

Common Stocks 100.1

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img288_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 | 15.8 |
| Taiwan | 6.9 |
| United Kingdom | 6.8 |
| Israel | 6.5 |
| Netherlands | 5.2 |
| Germany | 5.2 |
| India | 3.8 |
| Spain | 3.8 |
| Others | 26.2 |

---

---

| |
|:---|
| **GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)** |
| ![](img288_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 - 15.8&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;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 - 26.2&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)**  |  |
| 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. |
| ![](img288_20260430_1.jpg)<br>| ![](img131120_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> 1.9919123.100 7615-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 Advisor® International Capital Appreciation Fund**

**Semi-Annual Report**

**April 30, 2026**

Includes Fidelity and Fidelity Advisor share classes

![](img131293_1.jpg)

![](img131293_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_AICAP-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Advisor® International Capital Appreciation Fund](#Sub_Sec_Fund_288_AICAP-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements288_AICAP-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_AICAP-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_AICAP-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_AICAP-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_AICAP-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 Advisor® International Capital Appreciation 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  | 1923430 | 212531525 |
| BRAZIL - 1.5%  |  |  |
| Materials - 1.5% |  |  |
| Metals & Mining - 1.5% |  |  |
| Wheaton Precious Metals Corp  | 1982170 | 250377832 |
| CANADA - 3.4%  |  |  |
| Information Technology - 2.0% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Celestica Inc (United States) (a) | 793066 | 324831903 |
| Materials - 1.4% |  |  |
| Metals & Mining - 1.4% |  |  |
| Franco-Nevada Corp  | 997884 | 230218197 |
| TOTAL CANADA |  | 555050100 |
| CHINA - 1.4%  |  |  |
| Industrials - 1.4% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 3525800 | 226508004 |
| DENMARK - 1.5%  |  |  |
| Industrials - 1.5% |  |  |
| Air Freight & Logistics - 1.5% |  |  |
| DSV A/S  | 998363 | 244371302 |
| FINLAND - 1.2%  |  |  |
| Information Technology - 1.2% |  |  |
| Communications Equipment - 1.2% |  |  |
| Nokia Oyj ADR  | 15113669 | 195117467 |
| FRANCE - 3.2%  |  |  |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 1.7% |  |  |
| Safran SA  | 845292 | 271434097 |
| Electrical Equipment - 1.5% |  |  |
| Legrand SA  | 1364940 | 244547603 |
| TOTAL FRANCE |  | 515981700 |
| GERMANY - 5.2%  |  |  |
| Industrials - 3.9% |  |  |
| Aerospace & Defense - 1.8% |  |  |
| Rheinmetall AG  | 182406 | 290250752 |
| Electrical Equipment - 2.1% |  |  |
| Siemens Energy AG  | 1604522 | 340058731 |
| TOTAL INDUSTRIALS |  | 630309483 |
| Materials - 1.3% |  |  |
| Construction Materials - 1.3% |  |  |
| Heidelberg Materials AG  | 986267 | 217613176 |
| TOTAL GERMANY |  | 847922659 |
| INDIA - 3.8%  |  |  |
| Communication Services - 1.3% |  |  |
| Wireless Telecommunication Services - 1.3% |  |  |
| Bharti Airtel Ltd  | 10743817 | 214776601 |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| ICICI Bank Ltd  | 14813189 | 198776269 |
| Industrials - 1.3% |  |  |
| Transportation Infrastructure - 1.3% |  |  |
| Adani Ports & Special Economic Zone Ltd  | 12010681 | 211046427 |
| TOTAL INDIA |  | 624599297 |
| ISRAEL - 6.5%  |  |  |
| Financials - 4.5% |  |  |
| Banks - 3.2% |  |  |
| Bank Hapoalim BM  | 9865309 | 264424752 |
| Bank Leumi Le-Israel BM  | 10101640 | 255578089 |
|  |  | 520002841 |
| Insurance - 1.3% |  |  |
| Harel Insurance Investments & Financial Services Ltd  | 2884953 | 179101484 |
| Phoenix Financial Ltd  | 533685 | 32099856 |
|  |  | 211201340 |
| TOTAL FINANCIALS |  | 731204181 |
| Information Technology - 2.0% |  |  |
| Electronic Equipment, Instruments & Components - 2.0% |  |  |
| Next Vision Stabilized Systems Ltd  | 2837375 | 325247736 |
| TOTAL ISRAEL |  | 1056451917 |
| ITALY - 3.4%  |  |  |
| Financials - 3.4% |  |  |
| Banks - 3.4% |  |  |
| Intesa Sanpaolo SpA  | 42161323 | 286453830 |
| UniCredit SpA  | 3485789 | 269390091 |
| TOTAL ITALY |  | 555843921 |
| JAPAN - 15.8%  |  |  |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| Japan Tobacco Inc  | 5944412 | 221457501 |
| Financials - 3.5% |  |  |
| Banks - 3.5% |  |  |
| Mitsubishi UFJ Financial Group Inc  | 15873414 | 285131605 |
| Sumitomo Mitsui Financial Group Inc  | 8056234 | 284458002 |
| TOTAL FINANCIALS |  | 569589607 |
| Industrials - 6.3% |  |  |
| Electrical Equipment - 1.4% |  |  |
| Fujikura Ltd  | 5877035 | 226753640 |
| Industrial Conglomerates - 2.1% |  |  |
| Hitachi Ltd  | 10771194 | 342506186 |
| Machinery - 2.8% |  |  |
| Kawasaki Heavy Industries Ltd  | 9833789 | 202167092 |
| Mitsubishi Heavy Industries Ltd  | 8618525 | 257227620 |
|  |  | 459394712 |
| TOTAL INDUSTRIALS |  | 1028654538 |
| Information Technology - 4.6% |  |  |
| Semiconductors & Semiconductor Equipment - 4.6% |  |  |
| Advantest Corp  | 1461114 | 272817117 |
| Disco Corp  | 530996 | 252638602 |
| Tokyo Electron Ltd  | 755372 | 222595155 |
| TOTAL INFORMATION TECHNOLOGY |  | 748050874 |
| TOTAL JAPAN |  | 2567752520 |
| KOREA (SOUTH) - 2.5%  |  |  |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| SK Hynix Inc  | 446960 | 401143467 |
| MEXICO - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Transportation Infrastructure - 1.1% |  |  |
| Grupo Aeroportuario del Pacifico SAB de CV Series B  | 6847198 | 171766931 |
| NETHERLANDS - 5.2%  |  |  |
| Information Technology - 5.2% |  |  |
| Semiconductors & Semiconductor Equipment - 5.2% |  |  |
| ASM International NV  | 362019 | 352908319 |
| ASML Holding NV  | 344090 | 497398020 |
| TOTAL NETHERLANDS |  | 850306339 |
| SPAIN - 3.8%  |  |  |
| Financials - 2.0% |  |  |
| Banks - 2.0% |  |  |
| Banco Santander SA  | 26239603 | 319663623 |
| Utilities - 1.8% |  |  |
| Electric Utilities - 1.8% |  |  |
| Iberdrola SA  | 12863740 | 301580471 |
| TOTAL SPAIN |  | 621244094 |
| SWEDEN - 1.2%  |  |  |
| Industrials - 1.2% |  |  |
| Building Products - 1.2% |  |  |
| Assa Abloy AB B Shares  | 5155180 | 196207008 |
| SWITZERLAND - 3.4%  |  |  |
| Financials - 3.4% |  |  |
| Capital Markets - 1.8% |  |  |
| UBS Group AG  | 6752263 | 298141772 |
| Insurance - 1.6% |  |  |
| Zurich Insurance Group AG  | 366898 | 255808731 |
| TOTAL SWITZERLAND |  | 553950503 |
| TAIWAN - 6.9%  |  |  |
| Information Technology - 6.9% |  |  |
| Semiconductors & Semiconductor Equipment - 6.9% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 16017456 | 1115499980 |
| UNITED ARAB EMIRATES - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Transportation Infrastructure - 1.1% |  |  |
| Salik Co PJSC  | 115025322 | 175367347 |
| UNITED KINGDOM - 6.8%  |  |  |
| Consumer Staples - 1.8% |  |  |
| Tobacco - 1.8% |  |  |
| British American Tobacco PLC  | 5100911 | 300417287 |
| Financials - 1.2% |  |  |
| Insurance - 1.2% |  |  |
| Aviva PLC  | 23546624 | 199808103 |
| Industrials - 3.8% |  |  |
| Aerospace & Defense - 3.8% |  |  |
| BAE Systems PLC  | 9841993 | 273740868 |
| Rolls-Royce Holdings PLC  | 21032087 | 338439094 |
| TOTAL INDUSTRIALS |  | 612179962 |
| TOTAL UNITED KINGDOM |  | 1112405352 |
| UNITED STATES - 19.9%  |  |  |
| Consumer Discretionary - 2.7% |  |  |
| Hotels, Restaurants & Leisure - 2.7% |  |  |
| Hilton Worldwide Holdings Inc  | 605836 | 196333272 |
| InterContinental Hotels Group PLC  | 1669625 | 238923338 |
| TOTAL CONSUMER DISCRETIONARY |  | 435256610 |
| Financials - 3.7% |  |  |
| Capital Markets - 1.3% |  |  |
| Moody's Corp  | 448321 | 207057054 |
| Financial Services - 2.4% |  |  |
| Mastercard Inc Class A  | 375287 | 188739338 |
| Visa Inc Class A  | 614451 | 202670518 |
|  |  | 391409856 |
| TOTAL FINANCIALS |  | 598466910 |
| Industrials - 8.4% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| HEICO Corp (b) | 721123 | 194645520 |
| Building Products - 1.3% |  |  |
| Trane Technologies PLC  | 414158 | 203989381 |
| Commercial Services & Supplies - 1.2% |  |  |
| Waste Connections Inc  | 1231677 | 202893250 |
| Construction & Engineering - 1.3% |  |  |
| Ferrovial SE  | 3034925 | 208159758 |
| Electrical Equipment - 3.4% |  |  |
| Eaton Corp PLC (b) | 479312 | 207546889 |
| Schneider Electric SE  | 1081683 | 344201074 |
|  |  | 551747963 |
| TOTAL INDUSTRIALS |  | 1361435872 |
| Information Technology - 2.6% |  |  |
| Software - 2.6% |  |  |
| Cadence Design Systems Inc (a) | 779152 | 256800708 |
| Synopsys Inc (a) | 338874 | 163540592 |
| TOTAL INFORMATION TECHNOLOGY |  | 420341300 |
| Materials - 2.5% |  |  |
| Construction Materials - 2.5% |  |  |
| CRH PLC  | 1514599 | 179358813 |
| Holcim AG  | 2383494 | 221489585 |
| TOTAL MATERIALS |  | 400848398 |
| TOTAL UNITED STATES |  | 3216349090 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $12,260,304,471) |  | <br> **16266748355** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.0%** | &nbsp;&nbsp;**Money Market Funds - 0.0%** | &nbsp;&nbsp;**Money Market Funds - 0.0%** | &nbsp;&nbsp;**Money Market Funds - 0.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c) | 3.69 | 37 | 36 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 2181605 | 2181824 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $2,181,860) |  |  | **2181860** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $12,262,486,331)<br>| <br>**16268930215** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(18162247)** |
| **NET ASSETS - 100.0%** | **16250767968** |

---

**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 | 240908363 | 2682427516 | 2923334277 | 2371518 | (1566) | - | 36 | 37 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 27394948 | 726481276 | 751697424 | 416484 | 3024 | - | 2181824 | 2181605 | 0.0% |
| Total | 268303311 | 3408908792 | 3675031701 | 2788002 | 1458 | - | 2181860 |  |  |

---

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 | 214776601 | - | 214776601 | - |
| Consumer Discretionary | 435256610 | 435256610 | - | - |
| Consumer Staples | 521874788 | - | 521874788 | - |
| Financials | 3939834642 | 2147284589 | 1792550053 | - |
| Industrials | 5373828574 | 2435256869 | 2938571705 | - |
| Information Technology | 4380539066 | 1618446725 | 2762092341 | - |
| Materials | 1099057603 | 659954842 | 439102761 | - |
| Utilities | 301580471 | - | 301580471 | - |
|  **Money Market Funds** | 2181860 | 2181860 | - | - |
| **Total Investments in Securities:** | 16268930215 | 7298381495 | 8970548720 | - |

---

**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 $4,195,076) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $12,260,304,471) | $16266748355 |  |
| Fidelity Central Funds (cost $2,181,860) | 2181860 |  |
| Total Investment in Securities (cost $12,262,486,331) |  | $16268930215 |
| Foreign currency held at value (cost $5,822,035) |  | 5824541 |
| Receivable for investments sold |  | 413007842 |
| Receivable for fund shares sold |  | 10371642 |
| Dividends receivable |  | 41272850 |
| Reclaims receivable |  | 26771692 |
| Distributions receivable from Fidelity Central Funds |  | 495112 |
| Prepaid expenses |  | 4124 |
| Other receivables |  | 60043751 |
| **Total assets** |  | 16826721769 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $420335830 |  |
| Payable for fund shares redeemed | 21764092 |  |
| Accrued management fee | 8256449 |  |
| Distribution and service plan fees payable | 352573 |  |
| Notes payable to affiliates | 106170000 |  |
| Other payables and accrued expenses | 16896057 |  |
| Collateral on securities loaned | 2178800 |  |
| **Total liabilities** |  | 575953801 |
| **Net Assets**  |  | $16250767968 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $11828988674 |
| Total accumulated earnings (loss) |  | 4421779294 |
| **Net Assets** |  | $16250767968 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($862,142,354 ÷ 24,793,091 shares)(a) |  | $34.77 |
| Maximum offering price per share (100/94.25 of $34.77) |  | $36.89 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($241,349,845 ÷ 7,191,954 shares)(a) |  | $33.56 |
| Maximum offering price per share (100/96.50 of $33.56) |  | $34.78 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($96,080,310 ÷ 3,304,116 shares)(a) |  | $29.08 |
| **International Capital Appreciation :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($4,102,474,820 ÷ 109,415,946 shares) |  | $37.49 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($7,563,112,079 ÷ 200,757,736 shares) |  | $37.67 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($3,385,608,560 ÷ 89,613,517 shares) |  | $37.78 |
| *(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  |  | $127689634 |
| Income from Fidelity Central Funds (including $416,484 from security lending)  |  | 2788002 |
| Security lending |  | 33 |
| Income before foreign taxes withheld |  | $130477669 |
| Less foreign taxes withheld |  | (12172282) |
| **Total income** |  | 118305387 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $59345250 |  |
| Performance adjustment | (5790234) |  |
| Distribution and service plan fees | 2092985 |  |
| Custodian fees and expenses | 1045580 |  |
| Independent trustees' fees and expenses | 25220 |  |
| Registration fees | 456378 |  |
| Audit fees | 83852 |  |
| Legal | 9050 |  |
| Interest | 535618 |  |
| Miscellaneous | 22519 |  |
| Total expenses before reductions | 57826218 |  |
| Expense reductions | (4750) |  |
| Total expenses after reductions |  | 57821468 |
| **Net Investment income (loss)** |  | 60483919 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $5,764,521)  | 491565707 |  |
| Fidelity Central Funds | 1458 |  |
| Foreign currency transactions | 1970895 |  |
| Total net realized gain (loss) |  | 493538060 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $28,366,162)  | 175313071 |  |
| Assets and liabilities in foreign currencies | 21763 |  |
| Total change in net unrealized appreciation (depreciation) |  | 175334834 |
| **Net gain (loss)** |  | 668872894 |
| **Net increase (decrease) in net assets resulting from operations** |  | $729356813 |

---

---

| | | |
|:---|:---|:---|
| **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) | $60483919 | $55579289 |
| &nbsp;&nbsp;Net realized gain (loss) | 493538060<br>| 1052574988<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 175334834 | 450105085<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 729356813<br>| 1558259362<br>|
| Distributions to shareholders | (849943574)<br>| (63613346)<br>|
| Share transactions - net increase (decrease) | 334016964<br>| 5828661665<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 213430203<br>| 7323307681<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 16037337765 | 8714030084<br>|
| &nbsp;&nbsp;End of period | $16250767968 | $16037337765 |

---

**Financial Highlights** 

**Fidelity Advisor® International Capital Appreciation 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  | $35.17 | $30.27 | $23.51 | $20.33 | $30.72 | $24.14 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .08  | .09  | .06  | .06  | (.04)  | (.09)  |
| Net realized and unrealized gain (loss)  | 1.41  | 4.98  | 6.74  | 3.12  | (9.21)  | 6.67  |
| Total from investment operations  | 1.49  | 5.07  | 6.80  | 3.18  | (9.25)  | 6.58  |
| Distributions from net investment income  | (.15)  | (.16)  | (.04)  | -  | -  | -  |
| Distributions from net realized gain  | (1.74)  | (.01)  | -  | -  | (1.14)  | -  |
| Total distributions  | (1.89)  | (.17)  | (.04)  | -  | (1.14)  | -  |
| Net asset value, end of period  | $34.77 | $35.17 | $30.27 | $23.51 | $20.33 | $30.72 |
| **Total Return** C,D,E | 4.56% <br>| 16.81%  | 28.97%  | 15.64%  | (31.18)%  | 27.26%  |
| **Ratios to Average Net Assets** A,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .98% H | 1.14%  | 1.14%  | 1.06%  | 1.24%  | 1.23%  |
| Expenses net of fee waivers, if any  | .98% H<br>| 1.14%  | 1.14%  | 1.06%  | 1.24%  | 1.23%  |
| Expenses net of all reductions, if any  | .98% H | 1.14%  | 1.14%  | 1.06%  | 1.24%  | 1.23%  |
| Net investment income (loss)  | .50% H | .27%  | .19%  | .23%  | (.18)%  | (.30)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $862142 | $792246 | $643559 | $464374 | $400112 | $592640 |
| Portfolio turnover rate I | 135% H<br>| 96% J | 63%  | 80%  | 110% K | 128%  |

---

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.*

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® International Capital Appreciation 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  | $33.97 | $29.26 | $22.74 | $19.71 | $29.82 | $23.49 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .04  | - C | (.02)  | (.01)  | (.10)  | (.15)  |
| Net realized and unrealized gain (loss)  | 1.36  | 4.82  | 6.54  | 3.04  | (8.95)  | 6.48  |
| Total from investment operations  | 1.40  | 4.82  | 6.52  | 3.03  | (9.05)  | 6.33  |
| Distributions from net investment income  | (.07)  | (.10)  | -  | -  | -  | -  |
| Distributions from net realized gain  | (1.74)  | (.01)  | -  | -  | (1.06)  | -  |
| Total distributions  | (1.81)  | (.11)  | -  | -  | (1.06)  | -  |
| Net asset value, end of period  | $33.56 | $33.97 | $29.26 | $22.74 | $19.71 | $29.82 |
| **Total Return** D,E,F | 4.44% <br>| 16.50%  | 28.67%  | 15.37%  | (31.39)%  | 26.95%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.23% I | 1.39%  | 1.39%  | 1.31%  | 1.49%  | 1.49%  |
| Expenses net of fee waivers, if any  | 1.23% I<br>| 1.39%  | 1.39%  | 1.31%  | 1.49%  | 1.48%  |
| Expenses net of all reductions, if any  | 1.23% I | 1.39%  | 1.39%  | 1.31%  | 1.49%  | 1.48%  |
| Net investment income (loss)  | .25% I | .02%  | (.06)%  | (.02)%  | (.43)%  | (.55)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $241350 | $229326 | $192004 | $149358 | $126232 | $191997 |
| Portfolio turnover rate J | 135% I<br>| 96% K | 63%  | 80%  | 110% L | 128%  |

---

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 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.*

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

**Fidelity Advisor® International Capital Appreciation 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  | $29.68 | $25.61 | $20.00 | $17.43 | $26.58 | $21.04 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.04)  | (.14)  | (.14)  | (.11)  | (.20)  | (.26)  |
| Net realized and unrealized gain (loss)  | 1.18  | 4.22  | 5.75  | 2.68  | (7.92)  | 5.80  |
| Total from investment operations  | 1.14  | 4.08  | 5.61  | 2.57  | (8.12)  | 5.54  |
| Distributions from net realized gain  | (1.74)  | (.01)  | -  | -  | (1.03)  | -  |
| Total distributions  | (1.74)  | (.01)  | -  | -  | (1.03)  | -  |
| Net asset value, end of period  | $29.08 | $29.68 | $25.61 | $20.00 | $17.43 | $26.58 |
| **Total Return** C,D,E | 4.19% <br>| 15.92%  | 28.05%  | 14.74%  | (31.70)%  | 26.33%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.73% H | 1.89%  | 1.90%  | 1.81%  | 1.99%  | 1.98%  |
| Expenses net of fee waivers, if any  | 1.73% H<br>| 1.89%  | 1.89%  | 1.81%  | 1.99%  | 1.98%  |
| Expenses net of all reductions, if any  | 1.73% H | 1.89%  | 1.89%  | 1.81%  | 1.99%  | 1.98%  |
| Net investment income (loss)  | (.25)% H | (.50)%  | (.56)%  | (.52)%  | (.93)%  | (1.05)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $96080 | $102417 | $105449 | $96072 | $97124 | $169018 |
| Portfolio turnover rate I | 135% H<br>| 96% J | 63%  | 80%  | 110% K | 128%  |

---

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.*

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® International Capital Appreciation Fund** <br>

---

| | | |
|:---|:---|:---|
|  | **Six months ended**<br> **April 30, 2026**<br> **(Unaudited)**  | **Years ended October 31, 2025** A |
| **Selected Per-Share Data**  |  |  |
| Net asset value, beginning of period  | $37.97 | $38.05 |
| Income from Investment Operations  |  |  |
| Net investment income (loss) B,C | .14  | .03  |
| Net realized and unrealized gain (loss)  | 1.51  | (.10) D |
| Total from investment operations  | 1.65  | (.07)  |
| Distributions from net investment income  | (.39)  | -  |
| Distributions from net realized gain  | (1.74)  | (.01)  |
| Total distributions  | (2.13)  | (.01)  |
| Net asset value, end of period  | $37.49 | $37.97 |
| **Total Return** E,F | 4.70% <br>| (.19)%  |
| **Ratios to Average Net Assets** C,G,H |  |  |
| Expenses before reductions  | .69% I | .83% I |
| Expenses net of fee waivers, if any  | .69% I<br>| .83% I |
| Expenses net of all reductions, if any  | .69% I | .83% I |
| Net investment income (loss)  | .79% I | .24% I |
| **Supplemental Data** |  |  |
| Net assets, end of period (000 omitted) | $4102475 | $4226409 |
| Portfolio turnover rate J | 135% I<br>| 96% K |

---

A*For the period July 17, 2025 (commencement of sale of shares) through October 31, 2025.*

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*The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.*

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® International Capital Appreciation 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  | $37.96 | $32.64 | $25.33 | $21.85 | $32.92 | $25.83 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .14  | .19  | .14  | .13  | .02  | (.01)  |
| Net realized and unrealized gain (loss)  | 1.52  | 5.36  | 7.28  | 3.35  | (9.88)  | 7.13  |
| Total from investment operations  | 1.66  | 5.55  | 7.42  | 3.48  | (9.86)  | 7.12  |
| Distributions from net investment income  | (.21)  | (.22)  | (.11)  | -  | -  | (.03)  |
| Distributions from net realized gain  | (1.74)  | (.01)  | -  | -  | (1.21)  | -  |
| Total distributions  | (1.95)  | (.23)  | (.11)  | -  | (1.21)  | (.03)  |
| Net asset value, end of period  | $37.67 | $37.96 | $32.64 | $25.33 | $21.85 | $32.92 |
| **Total Return** C,D | 4.69% <br>| 17.10%  | 29.34%  | 15.93%  | (31.01)%  | 27.60%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .73% G | .89%  | .89%  | .80%  | .98%  | .97%  |
| Expenses net of fee waivers, if any  | .73% G<br>| .89%  | .88%  | .79%  | .97%  | .97%  |
| Expenses net of all reductions, if any  | .73% G | .89%  | .88%  | .79%  | .97%  | .97%  |
| Net investment income (loss)  | .75% G | .53%  | .45%  | .49%  | .08%  | (.04)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7563112 | $7459674 | $5528021 | $3758357 | $3228604 | $6128293 |
| Portfolio turnover rate H | 135% G<br>| 96% I | 63%  | 80%  | 110% J | 128%  |

---

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

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

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

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

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

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

G*Annualized.*

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

I*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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

**Fidelity Advisor® International Capital Appreciation 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  | $38.09 | $32.76 | $25.43 | $21.90 | $32.99 | $25.88 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .16  | .23  | .18  | .16  | .06  | .03  |
| Net realized and unrealized gain (loss)  | 1.53  | 5.38  | 7.29  | 3.37  | (9.91)  | 7.14  |
| Total from investment operations  | 1.69  | 5.61  | 7.47  | 3.53  | (9.85)  | 7.17  |
| Distributions from net investment income  | (.26)  | (.27)  | (.14)  | -  | -  | (.06)  |
| Distributions from net realized gain  | (1.74)  | (.01)  | -  | -  | (1.24)  | -  |
| Total distributions  | (2.00)  | (.28)  | (.14)  | -  | (1.24)  | (.06)  |
| Net asset value, end of period  | $37.78 | $38.09 | $32.76 | $25.43 | $21.90 | $32.99 |
| **Total Return** C,D | 4.77% <br>| 17.23%  | 29.44%  | 16.12%  | (30.93)%  | 27.73%  |
| **Ratios to Average Net Assets** B,E,F |  |  |  |  |  |  |
| Expenses before reductions  | .62% G | .78%  | .76%  | .67%  | .85%  | .85%  |
| Expenses net of fee waivers, if any  | .62% G<br>| .78%  | .76%  | .67%  | .85%  | .85%  |
| Expenses net of all reductions, if any  | .62% G | .78%  | .76%  | .67%  | .85%  | .85%  |
| Net investment income (loss)  | .86% G | .64%  | .57%  | .62%  | .21%  | .09%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $3385609 | $3227266 | $2244997 | $1251587 | $893180 | $1845967 |
| Portfolio turnover rate H | 135% G<br>| 96% I | 63%  | 80%  | 110% J | 128%  |

---

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

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

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

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

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

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

G*Annualized.*

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

I*The portfolio turnover rate does not include the assets acquired in the reorganization.*

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 Advisor International Capital Appreciation Fund (the Fund) is a fund of Fidelity Advisor Series VIII (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 Capital Appreciation, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions. The Fund's investments in emerging markets can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.

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

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

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

---

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

---

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

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

**3. Significant Accounting Policies.**

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

**Investment Valuation.** Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2026 is included at the end of the Fund's Schedule of Investments.

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

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

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

**Investment Transactions and Income.** For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign 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 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** | $4216903795 |
| **Gross unrealized depreciation** | <u>(219589707)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$3997314088</u> |
| **Tax cost** | <u>$12271616127</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 Advisor International Capital Appreciation Fund** | 10751480899 | 11024522795 |

---

**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** | .85 |
| **Class M** | .85 |
| **Class C** | .85 |
| **International Capital Appreciation** | .83 |
| **Class I** | .84 |
| **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 Capital Appreciation** | .73 |
| **Class I** | .78 |
| **Class Z** | .66 |

---

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 Advisor International Capital Appreciation 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 Class I. 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% | 1020195 | 60331 |
| **Class M** | .25% | .25% | 580906 | 6478 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>491884</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>78488</u> |
|  |  |  | <u>2092985</u> | <u>145297</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:

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| | |
|:---|:---|
|  | **Retained by FDC ($)** |
| **Class A** | 127272 |
| **Class M** | 4112 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>49</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>131433</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 Advisor International Capital Appreciation Fund** | 8822 |

---

**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:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Borrower or Lender** | **Average Loan Balance ($)** | **Weighted Average Interest Rate** | **Interest Expense ($)**  |
| **Fidelity Advisor International Capital Appreciation Fund**  | Borrower | 83408169 | 3.92% | 535618 |

---

**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 Advisor International Capital Appreciation Fund** | 358469546 | 634619445 | 48139102 |

---

**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 Advisor International Capital Appreciation Fund** | 10116 |

---

**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 Advisor International Capital Appreciation Fund** | 44241 | - | - |

---

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 Advisor International Capital Appreciation Fund** | 1920092 |

---

**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 $4,750. During the period, transfer agent credits reduced each class' expenses as noted in the table below.

**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, 2025A** |
| **Fidelity Advisor International Capital Appreciation Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $42955181 | $3461169 |
| Class M | 12256476 | 689327 |
| Class C | 5946997 | 21375 |
| International Capital Appreciation | 232261065 | 655597 |
| Class I | 382812172 | 39343642 |
| Class Z | <u>173711683</u> | <u>19442236</u> |
| Total  | <u>$849943574</u> | <u>$63613346</u> |

---

*A Distributions for International Capital Appreciation are for the period July 17, 2025 (commencement of sale of shares) through October 31, 2025.*

**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, 2025A** | **Six months ended** <br> **April 30, 2026**  | **Year ended**<br> **October 31, 2025A** |
| **Fidelity Advisor International Capital Appreciation Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 3242292 | 5691528 | $110160718 | $186882643 |
| Reinvestment of distributions  | 1244865 | 106421 | 40744446 | 3287910 |
| Shares redeemed | <u>(2220444)</u> | <u>(4532253)</u> | <u>(75105549)</u> | <u>(145760918)</u> |
| Net increase (decrease) | <u>2266713</u> | <u>1265696</u> | <u>$75799615</u> | <u>$44409635</u> |
| **Class M** |  |  |  |  |
| Shares sold | 487535 | 1046127 | $15929435 | $33189576 |
| Reinvestment of distributions  | 385176 | 22899 | 12179255 | 686518 |
| Shares redeemed | <u>(431761)</u> | <u>(881098)</u> | <u>(14090095)</u> | <u>(27498182)</u> |
| Net increase (decrease) | <u>440950</u> | <u>187928</u> | <u>$14018595</u> | <u>$6377912</u> |
| **Class C** |  |  |  |  |
| Shares sold | 325231 | 612348 | $9275939 | $17152250 |
| Reinvestment of distributions  | 207561 | 691 | 5697557 | 20443 |
| Shares redeemed | <u>(679179)</u> | <u>(1280600)</u> | <u>(19277479)</u> | <u>(35132486)</u> |
| Net increase (decrease) | <u>(146387)</u> | <u>(667561)</u> | <u>$(4303983)</u> | <u>$(17959793)</u> |
| **International Capital Appreciation** |  |  |  |  |
| Shares sold | 11467240 | 9343885 | $416056718 | $354809396 |
| Issued in exchange for the shares of the Acquired Fund(s) | - | 110447900 | - | 4222426502 |
| Reinvestment of distributions  | 5150605 | 13554 | 181558843 | 512460 |
| Shares redeemed | <u>(18522497)</u> | <u>(8484741)</u> | <u>(673094846)</u> | <u>(320748316)</u> |
| Net increase (decrease) | <u>(1904652)</u> | <u>111320598</u> | <u>$(75479285)</u> | <u>$4257000042</u> |
| **Class I** |  |  |  |  |
| Shares sold | 29332744 | 75330303 | $1078820696 | $2640317243 |
| Reinvestment of distributions  | 9060396 | 1000531 | 321009830 | 33257971 |
| Shares redeemed | <u>(34161484)</u> | <u>(49182891)</u> | <u>(1250859775)</u> | <u>(1716179835)</u> |
| Net increase (decrease) | <u>4231656</u> | <u>27147943</u> | <u>$148970751</u> | <u>$957395379</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 15273597 | 35722807 | $561602666 | $1266954948 |
| Reinvestment of distributions  | 3816342 | 463784 | 135518286 | 15444838 |
| Shares redeemed | <u>(14198852)</u> | <u>(19991714)</u> | <u>(522109681)</u> | <u>(700961296)</u> |
| Net increase (decrease) | <u>4891087</u> | <u>16194877</u> | <u>$175011271</u> | <u>$581438490</u> |

---

*A Share transactions for International Capital Appreciation are for the period July 17, 2025 (commencement of sale of shares) through October 31, 2025.*

**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. Prior Fiscal Year Reorganization Information.**

On July 25, 2025, the Fund acquired all of the assets and assumed all of the liabilities of Fidelity International Capital Appreciation Fund ("Acquired Fund") pursuant to an Agreement and Plan of Reorganization (Agreements) approved by the Board of Trustees ("The Board"). The securities held by the Acquired Fund were the primary assets acquired by the Fund. In addition, the Board approved the creation of additional classes of shares that commenced sale of shares on July 17, 2025. The acquisition was accomplished by an exchange of each class of the Fund for corresponding shares then outstanding of the Acquired Fund at its 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 the 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 the Fund's 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** | **Investments $** | **Unrealized appreciation (depreciation) $** | **Net Assets $** | **Shares Exchanged** | **Shares Exchanged Ratio** |
| **Fidelity International Capital Appreciation Fund** | 4207861988 | 1145728002 | 4222426502 | 142036660 | 0.7776013602 |

---

---

| | | |
|:---|:---|:---|
| **Acquiring Fund** | **Net Assets $** | **Total net assets after the acquisition $** |
| **Fidelity Advisor International Capital Appreciation Fund** | 11437685893 | 15660112395 |

---

Pro forma results of operations of the combined entity for the entire period ended October 31, 2025, 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)** | $82391073 |
| **Total net realized gain (loss)** | 1451080677 |
| **Total change in net unrealized appreciation (depreciation)** | <u>644500194</u> |
| **Net increase (decrease) in net assets resulting from operations** | <u>$2177971944</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 have been included in the Fund's Statement of Operations since July 25, 2025.

**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.

![](img131293_4.jpg)<br>

1.703428.128 AICAP-SANN-0626

**Fidelity Advisor® Global Capital Appreciation Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131295_1.jpg)

![](img131295_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_AGLO-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Advisor® Global Capital Appreciation Fund](#Sub_Sec_Fund_751_AGLO-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements751_AGLO-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_AGLO-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_AGLO-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_AGLO-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_AGLO-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 1-877-208-0098 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 Advisor® Global Capital Appreciation 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 - 0.8%  |  |  |
| Industrials - 0.8% |  |  |
| Aerospace & Defense - 0.8% |  |  |
| DroneShield Ltd (a)(b) | 540115 | 1407971 |
| BRAZIL - 0.7%  |  |  |
| Financials - 0.7% |  |  |
| Banks - 0.7% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (b) | 84100 | 1217767 |
| CANADA - 1.6%  |  |  |
| Energy - 1.6% |  |  |
| Oil, Gas & Consumable Fuels - 1.6% |  |  |
| Canadian Natural Resources Ltd (United States)  | 57800 | 2756482 |
| CHINA - 3.5%  |  |  |
| Communication Services - 1.3% |  |  |
| Interactive Media & Services - 1.3% |  |  |
| Tencent Holdings Ltd  | 38600 | 2344265 |
| Consumer Discretionary - 0.5% |  |  |
| Automobiles - 0.5% |  |  |
| BYD Co Ltd H Shares  | 66900 | 889915 |
| Industrials - 1.7% |  |  |
| Electrical Equipment - 1.7% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 46610 | 2994367 |
| TOTAL CHINA |  | 6228547 |
| DENMARK - 1.2%  |  |  |
| Industrials - 1.2% |  |  |
| Air Freight & Logistics - 1.2% |  |  |
| DSV A/S  | 8400 | 2056085 |
| GERMANY - 2.4%  |  |  |
| Industrials - 2.4% |  |  |
| Aerospace & Defense - 0.9% |  |  |
| Rheinmetall AG  | 950 | 1511673 |
| Electrical Equipment - 1.5% |  |  |
| Siemens Energy AG  | 12900 | 2733997 |
| TOTAL GERMANY |  | 4245670 |
| ITALY - 1.2%  |  |  |
| Financials - 1.2% |  |  |
| Banks - 1.2% |  |  |
| UniCredit SpA  | 28200 | 2179363 |
| JAPAN - 4.4%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Household Durables - 1.6% |  |  |
| Panasonic Holdings Corp  | 138800 | 2839266 |
| Industrials - 0.9% |  |  |
| Industrial Conglomerates - 0.9% |  |  |
| Hitachi Ltd  | 52500 | 1669413 |
| Information Technology - 1.9% |  |  |
| Semiconductors & Semiconductor Equipment - 1.9% |  |  |
| Renesas Electronics Corp  | 111600 | 2256848 |
| Rohm Co Ltd  | 43200 | 934631 |
| TOTAL INFORMATION TECHNOLOGY |  | 3191479 |
| TOTAL JAPAN |  | 7700158 |
| KOREA (SOUTH) - 4.4%  |  |  |
| Information Technology - 4.4% |  |  |
| Semiconductors & Semiconductor Equipment - 4.4% |  |  |
| SK Hynix Inc  | 8620 | 7736390 |
| NETHERLANDS - 1.6%  |  |  |
| Information Technology - 1.6% |  |  |
| Semiconductors & Semiconductor Equipment - 1.6% |  |  |
| ASML Holding NV  | 1900 | 2746538 |
| SPAIN - 2.1%  |  |  |
| Financials - 2.1% |  |  |
| Banks - 2.1% |  |  |
| Banco Santander SA  | 304200 | 3705913 |
| SWEDEN - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Trading Companies & Distributors - 1.0% |  |  |
| Bergman & Beving AB B Shares  | 50443 | 1707339 |
| TAIWAN - 4.7%  |  |  |
| Information Technology - 4.7% |  |  |
| Semiconductors & Semiconductor Equipment - 4.7% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 21100 | 8356866 |
| UNITED KINGDOM - 2.9%  |  |  |
| Financials - 2.1% |  |  |
| Banks - 2.1% |  |  |
| Lloyds Banking Group PLC  | 2565900 | 3487836 |
| Starling Bank Ltd (d)(e) | 72300 | 215457 |
| TOTAL FINANCIALS |  | 3703293 |
| Health Care - 0.8% |  |  |
| Pharmaceuticals - 0.8% |  |  |
| GSK PLC ADR  | 27700 | 1448987 |
| TOTAL UNITED KINGDOM |  | 5152280 |
| UNITED STATES - 63.3%  |  |  |
| Communication Services - 7.5% |  |  |
| Entertainment - 0.6% |  |  |
| Netflix Inc (b) | 12700 | 1188847 |
| Interactive Media & Services - 6.9% |  |  |
| Alphabet Inc Class A  | 23300 | 8965840 |
| Meta Platforms Inc Class A  | 5100 | 3120741 |
|  |  | 12086581 |
| TOTAL COMMUNICATION SERVICES |  | 13275428 |
| Consumer Discretionary - 4.6% |  |  |
| Broadline Retail - 3.7% |  |  |
| Amazon.com Inc (b) | 24500 | 6493970 |
| Specialty Retail - 0.9% |  |  |
| TJX Cos Inc/The  | 10000 | 1567500 |
| TOTAL CONSUMER DISCRETIONARY |  | 8061470 |
| Consumer Staples - 1.3% |  |  |
| Beverages - 1.3% |  |  |
| Coca-Cola Co/The  | 31100 | 2449436 |
| Energy - 3.1% |  |  |
| Oil, Gas & Consumable Fuels - 3.1% |  |  |
| Diamondback Energy Inc  | 8500 | 1747855 |
| Exxon Mobil Corp  | 24200 | 3734786 |
| TOTAL ENERGY |  | 5482641 |
| Financials - 9.0% |  |  |
| Banks - 3.3% |  |  |
| JPMorgan Chase & Co  | 11000 | 3445530 |
| Wells Fargo & Co  | 29800 | 2450454 |
|  |  | 5895984 |
| Capital Markets - 2.3% |  |  |
| Bank of New York Mellon Corp/The  | 12600 | 1693062 |
| Charles Schwab Corp/The  | 26500 | 2428460 |
|  |  | 4121522 |
| Consumer Finance - 1.2% |  |  |
| American Express Co  | 6300 | 2035215 |
| Financial Services - 1.0% |  |  |
| Mastercard Inc Class A  | 3400 | 1709928 |
| Insurance - 1.2% |  |  |
| Arthur J Gallagher & Co  | 10600 | 2187840 |
| TOTAL FINANCIALS |  | 15950489 |
| Health Care - 4.2% |  |  |
| Biotechnology - 1.3% |  |  |
| Gilead Sciences Inc  | 18300 | 2394372 |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Medline Inc Class A (c) | 57700 | 2565919 |
| Pharmaceuticals - 1.4% |  |  |
| Eli Lilly & Co  | 2700 | 2523420 |
| TOTAL HEALTH CARE |  | 7483711 |
| Industrials - 8.6% |  |  |
| Aerospace & Defense - 2.0% |  |  |
| Boeing Co (b) | 15600 | 3572868 |
| Construction & Engineering - 3.2% |  |  |
| Construction Partners Inc Class A (b) | 14200 | 1755972 |
| EMCOR Group Inc  | 4400 | 3923348 |
|  |  | 5679320 |
| Machinery - 3.4% |  |  |
| Allison Transmission Holdings Inc  | 13200 | 1773420 |
| Westinghouse Air Brake Technologies Corp  | 15200 | 4102328 |
|  |  | 5875748 |
| TOTAL INDUSTRIALS |  | 15127936 |
| Information Technology - 23.3% |  |  |
| Electronic Equipment, Instruments & Components - 5.0% |  |  |
| Amphenol Corp Class A  | 34600 | 5095542 |
| Corning Inc  | 22500 | 3695400 |
|  |  | 8790942 |
| Semiconductors & Semiconductor Equipment - 9.5% |  |  |
| Broadcom Inc  | 9600 | 4007328 |
| NVIDIA Corp  | 64050 | 12782459 |
|  |  | 16789787 |
| Software - 1.9% |  |  |
| Microsoft Corp  | 8050 | 3282629 |
| Technology Hardware, Storage & Peripherals - 6.9% |  |  |
| Apple Inc  | 12600 | 3419010 |
| Everpure Inc Class A (b) | 19500 | 1393275 |
| Seagate Technology Holdings PLC  | 6000 | 4041840 |
| Western Digital Corp  | 7600 | 3302352 |
|  |  | 12156477 |
| TOTAL INFORMATION TECHNOLOGY |  | 41019835 |
| Materials - 1.7% |  |  |
| Construction Materials - 1.7% |  |  |
| CRH PLC  | 24600 | 2913132 |
| TOTAL UNITED STATES |  | 111764078 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $105,636,725) |  | <br> **168961447** |

---

---

| | | |
|:---|:---|:---|
| &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 (b)(d)(e) | 7 | 62385 |
| Valsoft Corp Series A-1.3 (b)(d)(e) | 3 | 26736 |
| Valsoft Corp Series A-1.4 (b)(d)(e) | 3 | 26736 |
| TOTAL CANADA |  | 115857 |
| UNITED STATES - 0.4%  |  |  |
| Information Technology - 0.4% |  |  |
| Technology Hardware, Storage & Peripherals - 0.4% |  |  |
| Wasabi Holdings Inc Series C (b)(d)(e) | 50623 | 639369 |
| Wasabi Holdings Inc Series D1 (d)(e) | 2130 | 38723 |
| TOTAL UNITED STATES |  | 678092 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $741,541) |  | <br> **793949** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.2%** | &nbsp;&nbsp;**Money Market Funds - 5.2%** | &nbsp;&nbsp;**Money Market Funds - 5.2%** | &nbsp;&nbsp;**Money Market Funds - 5.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 6622090 | 6623414 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 2562944 | 2563200 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $9,186,614) |  |  | **9186614** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.4%**<br> (Cost $115,564,880)<br>| <br>**178942010** |
| **NET OTHER ASSETS (LIABILITIES) - (1.4)%**  | **(2515116)** |
| **NET ASSETS - 100.0%** | **176426894** |

---

**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 $1,407,971 or 0.8% of net assets.

(b) Non-income producing.

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

(d) Level 3 security.

(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 $1,009,406 or 0.6% 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.

---

| | | |
|:---|:---|:---|
| 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 | 138336 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 81996 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 29781 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 39484 |
| Wasabi Holdings Inc Series C | 3/31/2021 - 4/30/2021 | 549999 |
| Wasabi Holdings Inc Series D1 | 11/14/2025 | 40281 |

---

**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 | 6062796 | 46286058 | 45725295 | 127181 | (145) | - | 6623414 | 6622090 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | - | 17094038 | 14530652 | 804 | (186) | - | 2563200 | 2562944 | 0.0% |
| Total | 6062796 | 63380096 | 60255947 | 127985 | (331) | - | 9186614 |  |  |

---

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 | 15619693 | 13275428 | 2344265 | - |
| Consumer Discretionary | 11790651 | 8061470 | 3729181 | - |
| Consumer Staples | 2449436 | 2449436 | - | - |
| Energy | 8239123 | 8239123 | - | - |
| Financials | 26756825 | 20874169 | 5667199 | 215457 |
| Health Care | 8932698 | 8932698 | - | - |
| Industrials | 29208781 | 23137030 | 6071751 | - |
| Information Technology | 63051108 | 49376701 | 13674407 | - |
| Materials | 2913132 | 2913132 | - | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 793949 | - | - | 793949 |
|  **Money Market Funds** | 9186614 | 9186614 | - | - |
| **Total Investments in Securities:** | 178942010 | 146445801 | 31486803 | 1009406 |

---

**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 $2,561,472) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $106,378,266) | $169755396 |  |
| Fidelity Central Funds (cost $9,186,614) | 9186614 |  |
| Total Investment in Securities (cost $115,564,880) |  | $178942010 |
| Foreign currency held at value (cost $263) |  | 267 |
| Receivable for fund shares sold |  | 8521 |
| Dividends receivable |  | 213921 |
| Distributions receivable from Fidelity Central Funds |  | 14404 |
| Prepaid expenses |  | 41 |
| Receivable from investment adviser for expense reductions |  | 4743 |
| Other receivables |  | 39241 |
| **Total assets** |  | 179223148 |
| **Liabilities** |  |  |
| Payable for fund shares redeemed | $27930 |  |
| Accrued management fee | 140658 |  |
| Distribution and service plan fees payable | 28474 |  |
| Other payables and accrued expenses | 35992 |  |
| Collateral on securities loaned | 2563200 |  |
| **Total liabilities** |  | 2796254 |
| **Net Assets**  |  | $176426894 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $101951908 |
| Total accumulated earnings (loss) |  | 74474986 |
| **Net Assets** |  | $176426894 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($60,462,255 ÷ 2,123,630 shares)(a) |  | $28.47 |
| Maximum offering price per share (100/94.25 of $28.47) |  | $30.21 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($28,089,422 ÷ 1,078,842 shares)(a) |  | $26.04 |
| Maximum offering price per share (100/96.50 of $26.04) |  | $26.98 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($6,316,479 ÷ 300,588 shares)(a) |  | $21.01 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($81,558,738 ÷ 2,604,869 shares) |  | $31.31 |
| *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* | *(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.* |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** | **Six months ended April 30, 2026 (Unaudited)** |
| **Investment Income** |  |  |
| Dividends  |  | $835627 |
| Income from Fidelity Central Funds (including $804 from security lending)  |  | 127985 |
| Income before foreign taxes withheld |  | $963612 |
| Less foreign taxes withheld |  | (53664) |
| **Total income** |  | 909948 |
| **Expenses** |  |  |
| Management fee |  |  |
| Basic fee | $689536 |  |
| Performance adjustment | 133655 |  |
| Distribution and service plan fees | 168419 |  |
| Custodian fees and expenses | 3988 |  |
| Independent trustees' fees and expenses | 258 |  |
| Registration fees | 24802 |  |
| Audit fees | 39597 |  |
| Legal | 413 |  |
| Miscellaneous | 228 |  |
| Total expenses before reductions | 1060896 |  |
| Expense reductions | (24334) |  |
| Total expenses after reductions |  | 1036562 |
| **Net Investment income (loss)** |  | (126614) |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $188,864)  | 11516009 |  |
| Fidelity Central Funds | (331) |  |
| Foreign currency transactions | (19556) |  |
| Total net realized gain (loss) |  | 11496122 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $137,478)  | (699823) |  |
| Assets and liabilities in foreign currencies | 888 |  |
| Total change in net unrealized appreciation (depreciation) |  | (698935) |
| **Net gain (loss)** |  | 10797187 |
| **Net increase (decrease) in net assets resulting from operations** |  | $10670573 |

---

---

| | | |
|:---|:---|:---|
| **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) | $(126614) | $(262389) |
| &nbsp;&nbsp;Net realized gain (loss) | 11496122<br>| 15865800<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | (698935) | 13526356<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 10670573<br>| 29129767<br>|
| Distributions to shareholders | (14469951)<br>| (10270655)<br>|
| Share transactions - net increase (decrease) | 12623165<br>| 7322457<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 8823787<br>| 26181569<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 167603107 | 141421538<br>|
| &nbsp;&nbsp;End of period | $176426894 | $167603107 |

---

**Financial Highlights** 

**Fidelity Advisor® Global Capital Appreciation 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  | $29.38 | $25.98 | $19.50 | $16.68 | $24.21 | $18.53 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.03)  | (.05)  | (.04)  | .08  | (.06)  | (.09) C |
| Net realized and unrealized gain (loss)  | 1.70  | 5.28  | 7.85  | 2.74  | (5.64)  | 5.77  |
| Total from investment operations  | 1.67  | 5.23  | 7.81  | 2.82  | (5.70)  | 5.68  |
| Distributions from net investment income  | -  | -  | (.05)  | -  | -  | -  |
| Distributions from net realized gain  | (2.58)  | (1.83)  | (1.27)  | -  | (1.83)  | -  |
| Total distributions  | (2.58)  | (1.83)  | (1.33) D | -  | (1.83)  | -  |
| Net asset value, end of period  | $28.47 | $29.38 | $25.98 | $19.50 | $16.68 | $24.21 |
| **Total Return** E,F,G | 6.43% <br>| 21.16%  | 42.09%  | 16.91%  | (25.40)%  | 30.65%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.35% J | 1.37%  | 1.33%  | 1.22%  | 1.31%  | 1.15%  |
| Expenses net of fee waivers, if any  | 1.30% J<br>| 1.30%  | 1.30%  | 1.22%  | 1.30%  | 1.15%  |
| Expenses net of all reductions, if any  | 1.30% J | 1.30%  | 1.30%  | 1.22%  | 1.30%  | 1.15%  |
| Net investment income (loss)  | (.20)% J | (.20)%  | (.15)%  | .42%  | (.32)%  | (.42)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $60462 | $57406 | $52355 | $32433 | $28069 | $40398 |
| Portfolio turnover rate K | 86% J<br>| 71%  | 47%  | 39%  | 42%  | 58%  |

---

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 $.02 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.50)%.*

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® Global Capital Appreciation 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  | $27.13 | $24.17 | $18.22 | $15.63 | $22.85 | $17.54 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.06)  | (.11)  | (.09)  | .03  | (.10)  | (.14) C |
| Net realized and unrealized gain (loss)  | 1.55  | 4.90  | 7.31  | 2.56  | (5.29)  | 5.45  |
| Total from investment operations  | 1.49  | 4.79  | 7.22  | 2.59  | (5.39)  | 5.31  |
| Distributions from net realized gain  | (2.58)  | (1.83)  | (1.27)  | -  | (1.83)  | -  |
| Total distributions  | (2.58)  | (1.83)  | (1.27)  | -  | (1.83)  | -  |
| Net asset value, end of period  | $26.04 | $27.13 | $24.17 | $18.22 | $15.63 | $22.85 |
| **Total Return** D,E,F | 6.29% <br>| 20.90%  | 41.72%  | 16.57%  | (25.56)%  | 30.27%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.60% I | 1.62%  | 1.58%  | 1.47%  | 1.56%  | 1.41%  |
| Expenses net of fee waivers, if any  | 1.55% I<br>| 1.55%  | 1.55%  | 1.47%  | 1.55%  | 1.41%  |
| Expenses net of all reductions, if any  | 1.55% I | 1.55%  | 1.55%  | 1.47%  | 1.55%  | 1.41%  |
| Net investment income (loss)  | (.45)% I | (.45)%  | (.40)%  | .18%  | (.58)%  | (.68)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $28089 | $27086 | $23754 | $17748 | $16273 | $22618 |
| Portfolio turnover rate J | 86% I<br>| 71%  | 47%  | 39%  | 42%  | 58%  |

---

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 $.02 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.76)%.*

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® Global Capital Appreciation 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  | $22.45 | $20.40 | $15.62 | $13.47 | $20.04 | $15.46 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.10)  | (.19)  | (.17)  | (.06)  | (.17)  | (.22) C |
| Net realized and unrealized gain (loss)  | 1.24  | 4.07  | 6.21  | 2.21  | (4.57)  | 4.80  |
| Total from investment operations  | 1.14  | 3.88  | 6.04  | 2.15  | (4.74)  | 4.58  |
| Distributions from net realized gain  | (2.58)  | (1.83)  | (1.26)  | -  | (1.83)  | -  |
| Total distributions  | (2.58)  | (1.83)  | (1.26)  | -  | (1.83)  | -  |
| Net asset value, end of period  | $21.01 | $22.45 | $20.40 | $15.62 | $13.47 | $20.04 |
| **Total Return** D,E,F | 6.02% <br>| 20.26%  | 41.03%  | 15.96%  | (25.94)%  | 29.62%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 2.11% I | 2.13%  | 2.08%  | 2.01%  | 2.08%  | 1.92%  |
| Expenses net of fee waivers, if any  | 2.05% I<br>| 2.05%  | 2.05%  | 2.01%  | 2.05%  | 1.92%  |
| Expenses net of all reductions, if any  | 2.05% I | 2.05%  | 2.05%  | 2.01%  | 2.05%  | 1.92%  |
| Net investment income (loss)  | (.95)% I | (.95)%  | (.90)%  | (.36)%  | (1.07)%  | (1.19)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $6316 | $7139 | $6464 | $4192 | $4907 | $8044 |
| Portfolio turnover rate J | 86% I<br>| 71%  | 47%  | 39%  | 42%  | 58%  |

---

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 $.01 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (1.27)%.*

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 Advisor® Global Capital Appreciation 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  | $32.01 | $28.08 | $20.99 | $17.89 | $25.75 | $19.65 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .01  | .01  | .04  | .16  | -  | (.02) C |
| Net realized and unrealized gain (loss)  | 1.87  | 5.75  | 8.45  | 2.94  | (6.03)  | 6.12  |
| Total from investment operations  | 1.88  | 5.76  | 8.49  | 3.10  | (6.03)  | 6.10  |
| Distributions from net investment income  | -  | -  | (.13)  | -  | -  | -  |
| Distributions from net realized gain  | (2.58)  | (1.83)  | (1.27)  | -  | (1.83)  | -  |
| Total distributions  | (2.58)  | (1.83)  | (1.40)  | -  | (1.83)  | -  |
| Net asset value, end of period  | $31.31 | $32.01 | $28.08 | $20.99 | $17.89 | $25.75 |
| **Total Return** D,E | 6.57% <br>| 21.48%  | 42.47%  | 17.33%  | (25.14)%  | 31.04%  |
| **Ratios to Average Net Assets** A,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.05% H | 1.06%  | 1.01%  | .88%  | .97%  | .82%  |
| Expenses net of fee waivers, if any  | 1.05% H<br>| 1.05%  | 1.00%  | .88%  | .96%  | .82%  |
| Expenses net of all reductions, if any  | 1.05% H | 1.05%  | 1.00%  | .88%  | .96%  | .82%  |
| Net investment income (loss)  | .05% H | .05%  | .14%  | .76%  | .01%  | (.09)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $81559 | $75972 | $58849 | $45342 | $32058 | $49146 |
| Portfolio turnover rate I | 86% H<br>| 71%  | 47%  | 39%  | 42%  | 58%  |

---

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*Net investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.02 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (.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*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.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity Advisor Global Capital Appreciation Fund (the Fund) is a fund of Fidelity Advisor Series VIII (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 and Class I shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C and Class I 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 taxes withheld. Any receivables for withholding tax reclaims are included in the 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 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, net operating losses 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** | $65611083 |
| **Gross unrealized depreciation** | <u>(2253972)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$63357111</u> |
| **Tax cost** | <u>$115584899</u> |

---

The Fund elected to defer to its next fiscal year $218,182 of ordinary losses recognized during the period January 1, 2025 to October 31, 2025.

**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 Advisor Global Capital Appreciation Fund** | 72734256 | 68363401 |

---

**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 |
| **Class I** | .80 |

---

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 |
| **Class I** | .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 Advisor Global Capital Appreciation Fund** | MSCI All Country World Index |

---

For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Class I. 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 .16%.

**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% | 71264 | 2513 |
| **Class M** | .25% | .25% | 66430 | 479 |
| **Class C** | .75% | .25% | 30725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>5287</u> |
|  |  |  | <u>168419</u> | <u>8279</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** | 11082 |
| **Class M** | 612 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>22</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>11716</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 Advisor Global Capital Appreciation Fund** | 362 |

---

**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 Advisor Global Capital Appreciation Fund** | 7796863 | 5097532 | 812015 |

---

**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 Advisor Global Capital Appreciation Fund** | 104 |

---

**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 Advisor Global Capital Appreciation Fund** | 87 | - | - |

---

**8. Expense Reductions.** 

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

The following classes were in reimbursement during the period:

---

| | | |
|:---|:---|:---|
|  | **Expense Limitations** | **Reimbursement ($)** |
| **Class A** | 1.30% | 15297 |
| **Class M** | 1.55% | 7181 |
| **Class C** | 2.05% | 1769 |
| **Class I** | 1.05% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>-</u> |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; <u>24247</u> |

---

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $87.

**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 Advisor Global Capital Appreciation Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $5015318 | $3678544 |
| Class M | 2545106 | 1793510 |
| Class C | 739781 | 900720 |
| Class I | <u>6169746</u> | <u>3897881</u> |
| Total  | <u>$14469951</u> | <u>$10270655</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 Advisor Global Capital Appreciation Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 176871 | 264790 | $4792443 | $6910848 |
| Reinvestment of distributions  | 187959 | 140669 | 4926416 | 3615183 |
| Shares redeemed | <u>(194850)</u> | <u>(467332)</u> | <u>(5325342)</u> | <u>(11813672)</u> |
| Net increase (decrease) | <u>169980</u> | <u>(61873)</u> | <u>$4393517</u> | <u>$(1287641)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 24749 | 59065 | $623626 | $1411740 |
| Reinvestment of distributions  | 105785 | 75247 | 2537791 | 1789366 |
| Shares redeemed | <u>(50151)</u> | <u>(118596)</u> | <u>(1260147)</u> | <u>(2780197)</u> |
| Net increase (decrease) | <u>80383</u> | <u>15716</u> | <u>$1901270</u> | <u>$420909</u> |
| **Class C** |  |  |  |  |
| Shares sold | 41507 | 236012 | $820403 | $4981612 |
| Reinvestment of distributions  | 38131 | 45577 | 739737 | 900600 |
| Shares redeemed | <u>(97021)</u> | <u>(280537)</u> | <u>(1998828)</u> | <u>(5268406)</u> |
| Net increase (decrease) | <u>(17383)</u> | <u>1052</u> | <u>$(438688)</u> | <u>$613806</u> |
| **Class I** |  |  |  |  |
| Shares sold | 210276 | 443880 | $6330147 | $12313128 |
| Reinvestment of distributions  | 203468 | 131334 | 5857855 | 3669472 |
| Shares redeemed | <u>(181980)</u> | <u>(297925)</u> | <u>(5420936)</u> | <u>(8407217)</u> |
| Net increase (decrease) | <u>231764</u> | <u>277289</u> | <u>$6767066</u> | <u>$7575383</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.

![](img131295_4.jpg)<br>

1.719689.127 AGLO-SANN-0626

**Fidelity Advisor® Focused Emerging Markets Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131297_1.jpg)

![](img131297_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_FAEM-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Advisor® Focused Emerging Markets Fund](#Sub_Sec_Fund_1286_FAEM-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements1286_FAEM-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_FAEM-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_FAEM-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_FAEM-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_FAEM-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 1-877-208-0098 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 Advisor® Focused Emerging Markets Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.2%** | &nbsp;&nbsp;**Common Stocks - 98.2%** | &nbsp;&nbsp;**Common Stocks - 98.2%** |
|  | Shares | Value ($)<br>|
| ARGENTINA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| YPF SA Class D ADR (b) | 269400 | 12166104 |
| AUSTRALIA - 1.8%  |  |  |
| Materials - 1.8% |  |  |
| Metals & Mining - 1.8% |  |  |
| Anglogold Ashanti Plc  | 2395300 | 224511469 |
| BRAZIL - 2.1%  |  |  |
| Financials - 1.0% |  |  |
| Banks - 1.0% |  |  |
| Itau Unibanco Holding SA  | 13934731 | 121539851 |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| Vale SA ADR  | 8505820 | 139155215 |
| TOTAL BRAZIL |  | 260695066 |
| CHILE - 1.1%  |  |  |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| Antofagasta PLC  | 2868618 | 138553736 |
| CHINA - 24.0%  |  |  |
| Communication Services - 5.0% |  |  |
| Interactive Media & Services - 5.0% |  |  |
| Tencent Holdings Ltd  | 10321440 | 626844437 |
| Consumer Discretionary - 4.7% |  |  |
| Automobiles - 1.9% |  |  |
| BYD Co Ltd H Shares  | 17593300 | 234029033 |
| Broadline Retail - 1.6% |  |  |
| Alibaba Group Holding Ltd ADR (a) | 1322782 | 174448490 |
| PDD Holdings Inc Class A ADR (b) | 212817 | 21256162 |
|  |  | 195704652 |
| Hotels, Restaurants & Leisure - 0.2% |  |  |
| Shangri-La Asia Ltd  | 58492494 | 33270786 |
| Household Durables - 1.0% |  |  |
| Haier Smart Home Co Ltd A Shares (China)  | 39886816 | 126125828 |
| TOTAL CONSUMER DISCRETIONARY |  | 589130299 |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| China Petroleum & Chemical Corp H Shares  | 273584000 | 161630642 |
| Financials - 4.7% |  |  |
| Banks - 2.1% |  |  |
| China Construction Bank Corp H Shares  | 228139407 | 257523753 |
| Insurance - 2.6% |  |  |
| China Life Insurance Co Ltd H Shares  | 65106518 | 240181476 |
| PICC Property & Casualty Co Ltd H Shares  | 46100114 | 83273520 |
|  |  | 323454996 |
| TOTAL FINANCIALS |  | 580978749 |
| Health Care - 2.1% |  |  |
| Life Sciences Tools & Services - 1.2% |  |  |
| Wuxi Apptec Co Ltd H Shares (c)(d) | 8291608 | 145666263 |
| Pharmaceuticals - 0.9% |  |  |
| Hansoh Pharmaceutical Group Co Ltd (c)(d) | 24197330 | 115897189 |
| TOTAL HEALTH CARE |  | 261563452 |
| Industrials - 4.3% |  |  |
| Electrical Equipment - 1.6% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 3138900 | 201652383 |
| Machinery - 2.7% |  |  |
| Sany Heavy Industry Co Ltd A Shares (China)  | 37225100 | 111288014 |
| Shenzhen Inovance Technology Co Ltd A Shares (China)  | 21574474 | 217642950 |
|  |  | 328930964 |
| TOTAL INDUSTRIALS |  | 530583347 |
| Materials - 2.0% |  |  |
| Metals & Mining - 2.0% |  |  |
| Aluminum Corp of China Ltd A Shares (China)  | 47789700 | 82552169 |
| Zijin Mining Group Co Ltd A Shares (China)  | 33646288 | 165818460 |
| TOTAL MATERIALS |  | 248370629 |
| TOTAL CHINA |  | 2999101555 |
| GREECE - 2.8%  |  |  |
| Financials - 2.8% |  |  |
| Banks - 2.8% |  |  |
| Eurobank SA  | 34234382 | 147859392 |
| National Bank of Greece SA  | 12930406 | 203734726 |
| TOTAL GREECE |  | 351594118 |
| HUNGARY - 3.1%  |  |  |
| Financials - 1.7% |  |  |
| Banks - 1.7% |  |  |
| OTP Bank Nyrt  | 1555750 | 208574679 |
| Health Care - 1.4% |  |  |
| Pharmaceuticals - 1.4% |  |  |
| Richter Gedeon Nyrt  | 4287811 | 180609114 |
| TOTAL HUNGARY |  | 389183793 |
| INDIA - 7.1%  |  |  |
| Financials - 2.6% |  |  |
| Banks - 2.6% |  |  |
| ICICI Bank Ltd  | 8449100 | 113377381 |
| State Bank of India  | 18468500 | 208905509 |
| TOTAL FINANCIALS |  | 322282890 |
| Industrials - 2.2% |  |  |
| Construction & Engineering - 2.2% |  |  |
| Larsen & Toubro Ltd  | 6322845 | 268604109 |
| Information Technology - 1.5% |  |  |
| IT Services - 1.5% |  |  |
| Tata Consultancy Services Ltd  | 7190200 | 188694921 |
| Materials - 0.8% |  |  |
| Construction Materials - 0.8% |  |  |
| JK Cement Ltd  | 1887500 | 105714001 |
| TOTAL INDIA |  | 885295921 |
| INDONESIA - 1.7%  |  |  |
| Financials - 1.7% |  |  |
| Banks - 1.7% |  |  |
| Bank Central Asia Tbk PT  | 641453900 | 217478689 |
| JAPAN - 1.3%  |  |  |
| Industrials - 1.3% |  |  |
| Machinery - 1.3% |  |  |
| Komatsu Ltd  | 3742324 | 160238827 |
| KOREA (SOUTH) - 11.7%  |  |  |
| Consumer Discretionary - 1.0% |  |  |
| Automobile Components - 1.0% |  |  |
| Hyundai Mobis Co Ltd  | 411240 | 119701870 |
| Industrials - 1.5% |  |  |
| Aerospace & Defense - 1.5% |  |  |
| Korea Aerospace Industries Ltd  | 1668120 | 192338036 |
| Information Technology - 9.2% |  |  |
| Technology Hardware, Storage & Peripherals - 9.2% |  |  |
| Samsung Electronics Co Ltd  | 7532081 | 1141519398 |
| TOTAL KOREA (SOUTH) |  | 1453559304 |
| MALAYSIA - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| CIMB Group Holdings Bhd  | 81114600 | 156708555 |
| MEXICO - 4.8%  |  |  |
| Communication Services - 2.1% |  |  |
| Wireless Telecommunication Services - 2.1% |  |  |
| America Movil SAB de CV ADR  | 9646800 | 256604880 |
| Consumer Staples - 2.1% |  |  |
| Beverages - 1.2% |  |  |
| Fomento Economico Mexicano SAB de CV ADR  | 1262771 | 149310043 |
| Consumer Staples Distribution & Retail - 0.9% |  |  |
| Wal-Mart de Mexico SAB de CV Series V  | 35626430 | 112313450 |
| TOTAL CONSUMER STAPLES |  | 261623493 |
| Financials - 0.6% |  |  |
| Banks - 0.6% |  |  |
| Grupo Financiero Banorte SAB de CV  | 7536948 | 81839213 |
| TOTAL MEXICO |  | 600067586 |
| PERU - 2.0%  |  |  |
| Financials - 2.0% |  |  |
| Banks - 2.0% |  |  |
| Credicorp Ltd  | 763778 | 247593914 |
| RUSSIA - 0.0%  |  |  |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| LUKOIL PJSC ADR (b)(e) | 782000 | 8 |
| Financials - 0.0% |  |  |
| Banks - 0.0% |  |  |
| Sberbank of Russia PJSC ADR (b)(e) | 3242100 | 32 |
| TOTAL RUSSIA |  | 40 |
| SAUDI ARABIA - 2.8%  |  |  |
| Energy - 1.5% |  |  |
| Oil, Gas & Consumable Fuels - 1.5% |  |  |
| Saudi Arabian Oil Co (c)(d) | 25368400 | 187768773 |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| Al Rajhi Bank  | 9050400 | 165419256 |
| TOTAL SAUDI ARABIA |  | 353188029 |
| SOUTH AFRICA - 3.3%  |  |  |
| Communication Services - 1.5% |  |  |
| Wireless Telecommunication Services - 1.5% |  |  |
| MTN Group Ltd  | 14390209 | 180552525 |
| Financials - 0.9% |  |  |
| Financial Services - 0.9% |  |  |
| FirstRand Ltd  | 22083223 | 116968499 |
| Materials - 0.9% |  |  |
| Metals & Mining - 0.9% |  |  |
| Impala Platinum Holdings Ltd  | 7748254 | 108607660 |
| TOTAL SOUTH AFRICA |  | 406128684 |
| TAIWAN - 22.2%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Textiles, Apparel & Luxury Goods - 0.7% |  |  |
| Eclat Textile Co Ltd  | 7690719 | 81965499 |
| Industrials - 1.0% |  |  |
| Machinery - 1.0% |  |  |
| Hiwin Technologies Corp  | 12315660 | 123817660 |
| Information Technology - 20.5% |  |  |
| Electronic Equipment, Instruments & Components - 4.8% |  |  |
| Delta Electronics Inc  | 4971000 | 349702918 |
| Yageo Corp  | 24571920 | 251324936 |
|  |  | 601027854 |
| Semiconductors & Semiconductor Equipment - 15.7% |  |  |
| eMemory Technology Inc  | 1311945 | 166677071 |
| MediaTek Inc  | 6080000 | 509183488 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 18399554 | 1281395881 |
|  |  | 1957256440 |
| TOTAL INFORMATION TECHNOLOGY |  | 2558284294 |
| TOTAL TAIWAN |  | 2764067453 |
| TURKEY - 2.7%  |  |  |
| Financials - 0.8% |  |  |
| Banks - 0.8% |  |  |
| Yapi ve Kredi Bankasi AS (b) | 120590000 | 98853122 |
| Industrials - 1.9% |  |  |
| Electrical Equipment - 1.9% |  |  |
| Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS  | 38474969 | 241826970 |
| TOTAL TURKEY |  | 340680092 |
| UNITED ARAB EMIRATES - 1.2%  |  |  |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| Adnoc Gas PLC  | 160933645 | 147653585 |
| UNITED STATES - 1.2%  |  |  |
| Energy - 1.2% |  |  |
| Energy Equipment & Services - 1.2% |  |  |
| Tenaris SA ADR (a) | 2313400 | 147826260 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $8,189,902,998) |  | <br> **12256292780** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 2.4%** | &nbsp;&nbsp;**Money Market Funds - 2.4%** | &nbsp;&nbsp;**Money Market Funds - 2.4%** | &nbsp;&nbsp;**Money Market Funds - 2.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (f) | 3.69 | 267531513 | 267585019 |
| Fidelity Securities Lending Cash Central Fund (f)(g) | 3.69 | 30117988 | 30121000 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $297,706,019) |  |  | **297706019** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.6%**<br> (Cost $8,487,609,017)<br>| <br>**12553998799** |
| **NET OTHER ASSETS (LIABILITIES) - (0.6)%**  | **(78540526)** |
| **NET ASSETS - 100.0%** | **12475458273** |

---

**Legend**

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

(b) Non-income producing.

(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 $449,332,225 or 3.6% 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 $449,332,225 or 3.6% 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.

**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 | 283468508 | 2034484825 | 2050359854 | 3416123 | (8460) | - | 267585019 | 267531513 | 0.4% |
| Fidelity Securities Lending Cash Central Fund | 54734200 | 791968431 | 816578057 | 224757 | (3574) | - | 30121000 | 30117988 | 0.1% |
| Total | 338202708 | 2826453256 | 2866937911 | 3640880 | (12034) | - | 297706019 |  |  |

---

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 | 1064001842 | 437157405 | 626844437 | - |
| Consumer Discretionary | 790797668 | 195704652 | 595093016 | - |
| Consumer Staples | 261623493 | 261623493 | - | - |
| Energy | 657045372 | 495414722 | 161630642 | 8 |
| Financials | 2669831567 | 1392382652 | 1277448883 | 32 |
| Health Care | 442172566 | 180609114 | 261563452 | - |
| Industrials | 1517408949 | 241826970 | 1275581979 | - |
| Information Technology | 3888498613 | - | 3888498613 | - |
| Materials | 964912710 | 502220420 | 462692290 | - |
|  **Money Market Funds** | 297706019 | 297706019 | - | - |
| **Total Investments in Securities:** | 12553998799 | 4004645447 | 8549353312 | 40 |

---

**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 $103,822,872) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $8,189,902,998) | $12256292780 |  |
| Fidelity Central Funds (cost $297,706,019) | 297706019 |  |
| Total Investment in Securities (cost $8,487,609,017) |  | $12553998799 |
| Foreign currency held at value (cost $2,441,300) |  | 2439107 |
| Receivable for investments sold |  | 17931981 |
| Receivable for fund shares sold |  | 15354776 |
| Dividends receivable |  | 13602700 |
| Distributions receivable from Fidelity Central Funds |  | 475158 |
| Prepaid expenses |  | 2209 |
| Other receivables |  | 3721055 |
| **Total assets** |  | 12607525785 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $84548260 |  |
| Payable for fund shares redeemed | 8370030 |  |
| Accrued management fee | 8331797 |  |
| Distribution and service plan fees payable | 83149 |  |
| Other payables and accrued expenses | 613276 |  |
| Collateral on securities loaned | 30121000 |  |
| **Total liabilities** |  | 132067512 |
| **Net Assets**  |  | $12475458273 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $8124479271 |
| Total accumulated earnings (loss) |  | 4350979002 |
| **Net Assets** |  | $12475458273 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($243,675,915 ÷ 4,915,392 shares)(a) |  | $49.57 |
| Maximum offering price per share (100/94.25 of $49.57) |  | $52.59 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($44,082,930 ÷ 901,127 shares)(a) |  | $48.92 |
| Maximum offering price per share (100/96.50 of $48.92) |  | $50.69 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($19,764,315 ÷ 429,899 shares)(a) |  | $45.97 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($7,664,944,452 ÷ 154,209,695 shares) |  | $49.70 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($4,502,990,661 ÷ 90,778,314 shares) |  | $49.60 |
| *(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  |  | $113197797 |
| Income from Fidelity Central Funds (including $224,757 from security lending)  |  | 3640880 |
| Security lending |  | 22735 |
| Income before foreign taxes withheld |  | $116861412 |
| Less foreign taxes withheld |  | (11110418) |
| **Total income** |  | 105750994 |
| **Expenses** |  |  |
| Management fee | $44252766 |  |
| Distribution and service plan fees | 474818 |  |
| Custodian fees and expenses | 1035824 |  |
| Independent trustees' fees and expenses | 15466 |  |
| Registration fees | 219067 |  |
| Audit fees | 58409 |  |
| Legal | 5080 |  |
| Interest | 36462 |  |
| Miscellaneous | 13186 |  |
| Total expenses before reductions | 46111078 |  |
| Expense reductions | (29520) |  |
| Total expenses after reductions |  | 46081558 |
| **Net Investment income (loss)** |  | 59669436 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $9,289,301)  | 445435982 |  |
| Fidelity Central Funds | (12034) |  |
| Foreign currency transactions | (2151350) |  |
| Total net realized gain (loss) |  | 443272598 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $14,182,912)  | 1396992057 |  |
| Assets and liabilities in foreign currencies | (33492) |  |
| Total change in net unrealized appreciation (depreciation) |  | 1396958565 |
| **Net gain (loss)** |  | 1840231163 |
| **Net increase (decrease) in net assets resulting from operations** |  | $1899900599 |

---

---

| | | |
|:---|:---|:---|
| **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) | $59669436 | $133695535 |
| &nbsp;&nbsp;Net realized gain (loss) | 443272598<br>| 100798510<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 1396958565 | 2037215442<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 1899900599<br>| 2271709487<br>|
| Distributions to shareholders | (155976139)<br>| (70243035)<br>|
| Share transactions - net increase (decrease) | 1021057510<br>| 1720978698<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 2764981970<br>| 3922445150<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 9710476303 | 5788031153<br>|
| &nbsp;&nbsp;End of period | $12475458273 | $9710476303 |

---

**Financial Highlights** 

**Fidelity Advisor® Focused Emerging Markets 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  | $42.12 | $32.37 | $25.58 | $22.89 | $36.01 | $30.73 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .52  | .40  | .47 C | .59  | .31  |
| Net realized and unrealized gain (loss)  | 7.82  | 9.46  | 6.75  | 2.42  | (12.07)  | 5.64  |
| Total from investment operations  | 8.01  | 9.98  | 7.15  | 2.89  | (11.48)  | 5.95  |
| Distributions from net investment income  | (.56)  | (.23)  | (.36)  | (.20)  | (.52)  | (.05)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (1.12)  | (.62)  |
| Total distributions  | (.56)  | (.23)  | (.36)  | (.20)  | (1.64)  | (.67)  |
| Net asset value, end of period  | $49.57 | $42.12 | $32.37 | $25.58 | $22.89 | $36.01 |
| **Total Return** D,E,F | 19.29% <br>| 31.06%  | 28.20%  | 12.59%  | (33.30)%  | 19.43%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.15% I | 1.17%  | 1.20%  | 1.33%  | 1.34%  | 1.32%  |
| Expenses net of fee waivers, if any  | 1.15% I<br>| 1.17%  | 1.20%  | 1.33%  | 1.34%  | 1.32%  |
| Expenses net of all reductions, if any  | 1.15% I | 1.17%  | 1.20%  | 1.33%  | 1.34%  | 1.32%  |
| Net investment income (loss)  | .84% I | 1.49%  | 1.34%  | 1.72% C | 1.99%  | .83%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $243676 | $200099 | $155871 | $130156 | $117404 | $191955 |
| Portfolio turnover rate J | 54% I<br>| 58% K | 46%  | 33%  | 63%  | 51%  |

---

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 1.37%.*

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® Focused Emerging Markets 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  | $41.49 | $31.98 | $25.26 | $22.60 | $35.56 | $30.36 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .42  | .32  | .39 C | .50  | .20  |
| Net realized and unrealized gain (loss)  | 7.74  | 9.33  | 6.68  | 2.40  | (11.94)  | 5.58  |
| Total from investment operations  | 7.87  | 9.75  | 7.00  | 2.79  | (11.44)  | 5.78  |
| Distributions from net investment income  | (.44)  | (.24)  | (.28)  | (.13)  | (.41)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (1.12)  | (.58)  |
| Total distributions  | (.44)  | (.24)  | (.28)  | (.13)  | (1.52) D | (.58)  |
| Net asset value, end of period  | $48.92 | $41.49 | $31.98 | $25.26 | $22.60 | $35.56 |
| **Total Return** E,F,G | 19.16% <br>| 30.71%  | 27.90%  | 12.30%  | (33.50)%  | 19.10%  |
| **Ratios to Average Net Assets** B,H,I |  |  |  |  |  |  |
| Expenses before reductions  | 1.40% J | 1.42%  | 1.44%  | 1.60%  | 1.62%  | 1.61%  |
| Expenses net of fee waivers, if any  | 1.40% J<br>| 1.42%  | 1.43%  | 1.60%  | 1.62%  | 1.60%  |
| Expenses net of all reductions, if any  | 1.40% J | 1.42%  | 1.43%  | 1.59%  | 1.62%  | 1.60%  |
| Net investment income (loss)  | .59% J | 1.24%  | 1.10%  | 1.45% C | 1.71%  | .55%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $44083 | $39028 | $32971 | $29402 | $28497 | $48494 |
| Portfolio turnover rate K | 54% J<br>| 58% L | 46%  | 33%  | 63%  | 51%  |

---

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 1.10%.*

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.*

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

**Fidelity Advisor® Focused Emerging Markets 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  | $38.96 | $29.98 | $23.69 | $21.21 | $33.42 | $28.57 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .02  | .24  | .17  | .24 C | .33  | .01  |
| Net realized and unrealized gain (loss)  | 7.27  | 8.77  | 6.26  | 2.24  | (11.21)  | 5.27  |
| Total from investment operations  | 7.29  | 9.01  | 6.43  | 2.48  | (10.88)  | 5.28  |
| Distributions from net investment income  | (.28)  | (.03)  | (.14)  | -  | (.21)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (1.12)  | (.43)  |
| Total distributions  | (.28)  | (.03)  | (.14)  | -  | (1.33)  | (.43)  |
| Net asset value, end of period  | $45.97 | $38.96 | $29.98 | $23.69 | $21.21 | $33.42 |
| **Total Return** D,E,F | 18.84% <br>| 30.09%  | 27.25%  | 11.69%  | (33.82)%  | 18.52%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.90% I | 1.92%  | 1.93%  | 2.10%  | 2.12%  | 2.11%  |
| Expenses net of fee waivers, if any  | 1.90% I<br>| 1.92%  | 1.93%  | 2.10%  | 2.12%  | 2.11%  |
| Expenses net of all reductions, if any  | 1.90% I | 1.92%  | 1.93%  | 2.10%  | 2.12%  | 2.11%  |
| Net investment income (loss)  | .09% I | .74%  | .61%  | .95% C | 1.21%  | .04%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $19764 | $19258 | $19447 | $19041 | $19733 | $37777 |
| Portfolio turnover rate J | 54% I<br>| 58% K | 46%  | 33%  | 63%  | 51%  |

---

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 .60%.*

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 Advisor® Focused Emerging Markets 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  | $42.28 | $32.55 | $25.75 | $23.06 | $36.27 | $30.94 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .25  | .61  | .48  | .56 C | .66  | .42  |
| Net realized and unrealized gain (loss)  | 7.84  | 9.49  | 6.78  | 2.43  | (12.12)  | 5.67  |
| Total from investment operations  | 8.09  | 10.10  | 7.26  | 2.99  | (11.46)  | 6.09  |
| Distributions from net investment income  | (.67)  | (.37)  | (.46)  | (.30)  | (.63)  | (.15)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (1.12)  | (.62)  |
| Total distributions  | (.67)  | (.37)  | (.46)  | (.30)  | (1.75)  | (.76) D |
| Net asset value, end of period  | $49.70 | $42.28 | $32.55 | $25.75 | $23.06 | $36.27 |
| **Total Return** E,F | 19.44% <br>| 31.39%  | 28.53%  | 12.92%  | (33.08)%  | 19.77%  |
| **Ratios to Average Net Assets** A,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .90% I | .91%  | .96%  | 1.02%  | 1.03%  | 1.03%  |
| Expenses net of fee waivers, if any  | .90% I<br>| .91%  | .95%  | 1.01%  | 1.03%  | 1.03%  |
| Expenses net of all reductions, if any  | .90% I | .91%  | .95%  | 1.01%  | 1.03%  | 1.03%  |
| Net investment income (loss)  | 1.09% I | 1.75%  | 1.58%  | 2.04% C | 2.31%  | 1.13%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $7664944 | $5834794 | $3373539 | $2063159 | $696741 | $660307 |
| Portfolio turnover rate J | 54% I<br>| 58% K | 46%  | 33%  | 63%  | 51%  |

---

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*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 1.69%.*

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

**Fidelity Advisor® Focused Emerging Markets 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  | $42.21 | $32.51 | $25.71 | $23.01 | $36.21 | $30.89 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .27  | .65  | .52  | .59 C | .71  | .47  |
| Net realized and unrealized gain (loss)  | 7.82  | 9.47  | 6.76  | 2.44  | (12.11)  | 5.66  |
| Total from investment operations  | 8.09  | 10.12  | 7.28  | 3.03  | (11.40)  | 6.13  |
| Distributions from net investment income  | (.70)  | (.42)  | (.48)  | (.33)  | (.68)  | (.20)  |
| Distributions from net realized gain  | -  | -  | -  | -  | (1.12)  | (.62)  |
| Total distributions  | (.70)  | (.42)  | (.48)  | (.33)  | (1.80)  | (.81) D |
| Net asset value, end of period  | $49.60 | $42.21 | $32.51 | $25.71 | $23.01 | $36.21 |
| **Total Return** E,F | 19.49% <br>| 31.54%  | 28.69%  | 13.10%  | (33.01)%  | 19.94%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .78% I | .80%  | .83%  | .89%  | .90%  | .90%  |
| Expenses net of fee waivers, if any  | .78% I<br>| .80%  | .82%  | .88%  | .90%  | .90%  |
| Expenses net of all reductions, if any  | .78% I | .80%  | .82%  | .88%  | .90%  | .90%  |
| Net investment income (loss)  | 1.20% I | 1.86%  | 1.71%  | 2.16% C | 2.43%  | 1.25%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $4502991 | $3617298 | $2206202 | $1456314 | $856213 | $1127699 |
| Portfolio turnover rate J | 54% I<br>| 58% K | 46%  | 33%  | 63%  | 51%  |

---

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 1.81%.*

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*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 Advisor Focused Emerging Markets Fund (the Fund) is a fund of Fidelity Advisor Series VIII (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, 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. Effective the close of business on March 31, 2025, new positions in the Fund may no longer be opened with certain exceptions. 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 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 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** | $4467342825 |
| **Gross unrealized depreciation** | <u>(454518143)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$4012824682</u> |
| **Tax cost** | <u>$8541174117</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 | $(67239380) |
| Long-term | <u>-</u> |
| **Total capital loss carryforward** | <u>$(67239380)</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 Advisor Focused Emerging Markets Fund** | 3812198588 | 2847210370 |

---

**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 Advisor Focused Emerging Markets Fund** | 677548 | 22000000 |

---

**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** | .98 |
| **Class M** | .98 |
| **Class C** | .98 |
| **Class I** | .95 |
| **Class Z** | .83 |

---

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** | .87 |
| **Class M** | .87 |
| **Class C** | .87 |
| **Class I** | .87 |
| **Class Z** | .76 |

---

**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% | 275111 | 3959 |
| **Class M** | .25% | .25% | 102282 | 1451 |
| **Class C** | .75% | .25% | <u>97425</u> | <u>6938</u> |
|  |  |  | <u>474818</u> | <u>12348</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** | 3789 |
| **Class M** | 770 |
| **Class C**A | <u>68</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>4627</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 Advisor Focused Emerging Markets Fund** | 6025 |

---

**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 Advisor Focused Emerging Markets Fund**  | Borrower | 42193375 | 3.89% | 36462 |

---

**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 Advisor Focused Emerging Markets Fund** | 239145641 | 19885380 | (14298) |

---

**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 Advisor Focused Emerging Markets Fund** | 6542 |

---

**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 Advisor Focused Emerging Markets Fund** | 26909 | - | - |

---

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 Advisor Focused Emerging Markets Fund** | 75216930 |

---

**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 $29,520.

**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 Advisor Focused Emerging Markets Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $2716009 | $1075878 |
| Class M | 404386 | 286229 |
| Class C | 133573 | 20142 |
| Class I | 92212103 | 38797356 |
| Class Z | <u>60510068</u> | <u>30063430</u> |
| Total  | <u>$155976139</u> | <u>$70243035</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 Advisor Focused Emerging Markets Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 753289 | 1285825 | $33880604 | $44315219 |
| Reinvestment of distributions  | 56299 | 32931 | 2335845 | 1049197 |
| Shares redeemed | <u>(644793)</u> | <u>(1383334)</u> | <u>(29165569)</u> | <u>(48147604)</u> |
| Net increase (decrease) | <u>164795</u> | <u>(64578)</u> | <u>$7050880</u> | <u>$(2783188)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 25759 | 272028 | $1163538 | $8870955 |
| Reinvestment of distributions  | 9487 | 8855 | 388780 | 278570 |
| Shares redeemed | <u>(74681)</u> | <u>(371345)</u> | <u>(3316677)</u> | <u>(11690769)</u> |
| Net increase (decrease) | <u>(39435)</u> | <u>(90462)</u> | <u>$(1764359)</u> | <u>$(2541244)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 10731 | 45548 | $446509 | $1407202 |
| Reinvestment of distributions  | 3365 | 667 | 129845 | 19780 |
| Shares redeemed | <u>(78491)</u> | <u>(200511)</u> | <u>(3320802)</u> | <u>(6316818)</u> |
| Net increase (decrease) | <u>(64395)</u> | <u>(154296)</u> | <u>$(2744448)</u> | <u>$(4889836)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 32457637 | 75809381 | $1504937520 | $2586132482 |
| Reinvestment of distributions  | 1476454 | 1070182 | 61361444 | 34160198 |
| Shares redeemed | <u>(17720857)</u> | <u>(42510297)</u> | <u>(799991608)</u> | <u>(1467328823)</u> |
| Net increase (decrease) | <u>16213234</u> | <u>34369266</u> | <u>$766307356</u> | <u>$1152963857</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 21539505 | 43574721 | $958137439 | $1437529198 |
| Reinvestment of distributions  | 667233 | 400949 | 27663475 | 12762198 |
| Shares redeemed | <u>(17131322)</u> | <u>(26135392)</u> | <u>(733592833)</u> | <u>(872062287)</u> |
| Net increase (decrease) | <u>5075416</u> | <u>17840278</u> | <u>$252208081</u> | <u>$578229109</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.

![](img131297_4.jpg)<br>

1.800638.122 FAEM-SANN-0626

**Fidelity Advisor® Emerging Asia Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131298_1.jpg)

![](img131298_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_AEA-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Advisor® Emerging Asia Fund](#Sub_Sec_Fund_756_AEA-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements756_AEA-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_AEA-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_AEA-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_AEA-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_AEA-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 1-877-208-0098 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 Advisor® Emerging Asia Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 92.8%** | &nbsp;&nbsp;**Common Stocks - 92.8%** | &nbsp;&nbsp;**Common Stocks - 92.8%** |
|  | Shares | Value ($)<br>|
| CHINA - 31.1%  |  |  |
| Communication Services - 4.6% |  |  |
| Interactive Media & Services - 4.6% |  |  |
| Tencent Holdings Ltd  | 546824 | 33209860 |
| Consumer Discretionary - 4.8% |  |  |
| Automobile Components - 0.5% |  |  |
| Hesai Group ADR (b) | 150700 | 3417876 |
| Automobiles - 0.9% |  |  |
| BYD Co Ltd A Shares (China)  | 424900 | 6451053 |
| Broadline Retail - 2.6% |  |  |
| Alibaba Group Holding Ltd  | 747061 | 12312323 |
| Alibaba Group Holding Ltd ADR  | 23900 | 3151932 |
| PDD Holdings Inc Class A ADR (b) | 32084 | 3204550 |
|  |  | 18668805 |
| Textiles, Apparel & Luxury Goods - 0.8% |  |  |
| Laopu Gold Co Ltd H Shares (f) | 83100 | 5933238 |
| TOTAL CONSUMER DISCRETIONARY |  | 34470972 |
| Consumer Staples - 0.6% |  |  |
| Beverages - 0.6% |  |  |
| Eastroc Beverage Group Co Ltd A Shares (China)  | 152566 | 4558692 |
| Energy - 1.2% |  |  |
| Oil, Gas & Consumable Fuels - 1.2% |  |  |
| PetroChina Co Ltd H Shares  | 5380000 | 8298727 |
| Financials - 2.7% |  |  |
| Insurance - 2.7% |  |  |
| People's Insurance Co Group of China Ltd/The H Shares  | 7511497 | 5139492 |
| Ping An Insurance Group Co of China Ltd H Shares  | 1724482 | 14016767 |
| TOTAL FINANCIALS |  | 19156259 |
| Health Care - 3.1% |  |  |
| Health Care Equipment & Supplies - 2.2% |  |  |
| AK Medical Holdings Ltd (d)(e) | 6722094 | 5432158 |
| Peijia Medical Ltd (b)(d)(e) | 3006901 | 2391536 |
| Shanghai Conant Optical Co Ltd H Shares  | 357500 | 2152869 |
| Zylox-Tonbridge Medical Technology Co Ltd H Shares (d)(e) | 2029716 | 5980211 |
|  |  | 15956774 |
| Life Sciences Tools & Services - 0.9% |  |  |
| WuXi XDC Cayman Inc (b) | 840608 | 6382932 |
| TOTAL HEALTH CARE |  | 22339706 |
| Industrials - 7.1% |  |  |
| Air Freight & Logistics - 1.2% |  |  |
| J&T Global Express Ltd B Shares (b) | 6650246 | 8327037 |
| Electrical Equipment - 3.1% |  |  |
| Contemporary Amperex Technology Co Ltd A Shares (China)  | 233480 | 14999459 |
| Hongfa Technology Co Ltd A Shares (China)  | 730500 | 3347295 |
| Sieyuan Electric Co Ltd A Shares (China)  | 141800 | 4064033 |
|  |  | 22410787 |
| Machinery - 2.8% |  |  |
| Airtac International Group  | 218000 | 10210791 |
| Guangdong Dtech Technology Co Ltd (China)  | 99800 | 3473099 |
| Weichai Power Co Ltd H Shares  | 1330000 | 6611281 |
|  |  | 20295171 |
| TOTAL INDUSTRIALS |  | 51032995 |
| Information Technology - 3.7% |  |  |
| Electronic Equipment, Instruments & Components - 1.5% |  |  |
| Shengyi Technology Co Ltd A Shares (China)  | 336500 | 3817649 |
| WUS Printed Circuit Kunshan Co Ltd A Shares (China)  | 473500 | 7214012 |
|  |  | 11031661 |
| Semiconductors & Semiconductor Equipment - 2.2% |  |  |
| Advanced Micro-Fabrication Equipment Inc China A Shares (China)  | 177100 | 9846353 |
| Anji Microelectronics Technology Shanghai Co Ltd A Shares (China)  | 151400 | 5588353 |
|  |  | 15434706 |
| TOTAL INFORMATION TECHNOLOGY |  | 26466367 |
| Materials - 3.3% |  |  |
| Chemicals - 0.5% |  |  |
| Sinoma Science & Technology Co Ltd A Shares (China)  | 447800 | 3644629 |
| Metals & Mining - 2.8% |  |  |
| MMG Ltd (b) | 8648000 | 9330206 |
| Zijin Mining Group Co Ltd A Shares (China)  | 2180298 | 10745128 |
|  |  | 20075334 |
| TOTAL MATERIALS |  | 23719963 |
| TOTAL CHINA |  | 223253541 |
| HONG KONG - 1.6%  |  |  |
| Communication Services - 0.0% |  |  |
| Entertainment - 0.0% |  |  |
| Huanxi Media Group Ltd (b) | 880292 | 28831 |
| Financials - 1.6% |  |  |
| Insurance - 1.6% |  |  |
| AIA Group Ltd  | 1073401 | 11784623 |
| TOTAL HONG KONG |  | 11813454 |
| INDIA - 7.0%  |  |  |
| Communication Services - 1.1% |  |  |
| Wireless Telecommunication Services - 1.1% |  |  |
| Bharti Airtel Ltd  | 409300 | 8182200 |
| Consumer Discretionary - 0.1% |  |  |
| Broadline Retail - 0.1% |  |  |
| Meesho (g) | 192330 | 394498 |
| Energy - 0.6% |  |  |
| Oil, Gas & Consumable Fuels - 0.6% |  |  |
| Coal India Ltd  | 903100 | 4593380 |
| Financials - 4.1% |  |  |
| Capital Markets - 0.9% |  |  |
| 360 ONE WAM Ltd  | 582543 | 6374166 |
| Consumer Finance - 2.0% |  |  |
| Bajaj Finance Ltd  | 741107 | 7361443 |
| Shriram Finance Ltd  | 633061 | 6296421 |
|  |  | 13657864 |
| Financial Services - 1.2% |  |  |
| Power Finance Corp Ltd  | 1827900 | 8678051 |
| TOTAL FINANCIALS |  | 28710081 |
| Materials - 1.1% |  |  |
| Metals & Mining - 1.1% |  |  |
| National Aluminium Co Ltd  | 1910900 | 8085578 |
| TOTAL INDIA |  | 49965737 |
| INDONESIA - 1.3%  |  |  |
| Financials - 1.3% |  |  |
| Banks - 1.3% |  |  |
| Bank Rakyat Indonesia Persero Tbk PT  | 29554800 | 5112822 |
| Bank Syariah Indonesia Persero Tbk PT  | 37661585 | 3867882 |
| TOTAL INDONESIA |  | 8980704 |
| KOREA (SOUTH) - 16.8%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Automobiles - 1.6% |  |  |
| Kia Corp  | 112240 | 11650944 |
| Consumer Staples - 1.3% |  |  |
| Personal Care Products - 1.3% |  |  |
| APR Corp/Korea  | 31630 | 9140659 |
| Financials - 1.1% |  |  |
| Insurance - 1.1% |  |  |
| Samsung Life Insurance Co Ltd  | 47210 | 8080987 |
| Industrials - 7.7% |  |  |
| Aerospace & Defense - 1.9% |  |  |
| Hanwha Aerospace Co Ltd  | 8130 | 7859401 |
| Korea Aerospace Industries Ltd  | 51423 | 5929189 |
|  |  | 13788590 |
| Electrical Equipment - 1.8% |  |  |
| LS Electric Co Ltd  | 68350 | 13210603 |
| Industrial Conglomerates - 4.0% |  |  |
| SK Square Co Ltd (b) | 48570 | 28449237 |
| TOTAL INDUSTRIALS |  | 55448430 |
| Information Technology - 4.5% |  |  |
| Semiconductors & Semiconductor Equipment - 1.8% |  |  |
| SK Hynix Inc  | 14665 | 13161734 |
| Technology Hardware, Storage & Peripherals - 2.7% |  |  |
| Samsung Electronics Co Ltd  | 126555 | 19179957 |
| TOTAL INFORMATION TECHNOLOGY |  | 32341691 |
| Materials - 0.6% |  |  |
| Chemicals - 0.6% |  |  |
| Hansol Chemical Co Ltd  | 21630 | 4259551 |
| TOTAL KOREA (SOUTH) |  | 120922262 |
| PHILIPPINES - 1.1%  |  |  |
| Industrials - 1.1% |  |  |
| Transportation Infrastructure - 1.1% |  |  |
| International Container Terminal Services Inc  | 698000 | 8108580 |
| SINGAPORE - 3.3%  |  |  |
| Consumer Discretionary - 1.6% |  |  |
| Broadline Retail - 1.6% |  |  |
| Sea Ltd Class A ADR (b) | 137174 | 11643329 |
| Financials - 1.7% |  |  |
| Banks - 1.7% |  |  |
| Oversea-Chinese Banking Corp Ltd  | 691300 | 11926730 |
| TOTAL SINGAPORE |  | 23570059 |
| TAIWAN - 30.2%  |  |  |
| Information Technology - 30.2% |  |  |
| Electronic Equipment, Instruments & Components - 7.3% |  |  |
| Chroma ATE Inc  | 79000 | 5415274 |
| Delta Electronics Inc  | 255000 | 17938894 |
| Elite Material Co Ltd  | 83000 | 12406738 |
| Unimicron Technology Corp  | 420975 | 11995146 |
| Universal Microwave Technology Inc  | 94000 | 4691772 |
|  |  | 52447824 |
| Semiconductors & Semiconductor Equipment - 22.9% |  |  |
| ASE Technology Holding Co Ltd  | 662000 | 10409641 |
| eMemory Technology Inc  | 55000 | 6987518 |
| LandMark Optoelectronics Corp  | 44000 | 3828838 |
| MediaTek Inc  | 234000 | 19596865 |
| Taiwan Semiconductor Manufacturing Co Ltd  | 1743393 | 121414715 |
| Visual Photonics Epitaxy Co Ltd  | 213000 | 2380497 |
|  |  | 164618074 |
| TOTAL TAIWAN |  | 217065898 |
| UNITED STATES - 0.4%  |  |  |
| Industrials - 0.4% |  |  |
| Aerospace & Defense - 0.4% |  |  |
| Space Exploration Technologies Corp (a)(b)(c) | 6000 | 3159540 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $428,348,627) |  | <br> **666839775** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.6%  |  |  |
| Communication Services - 0.5% |  |  |
| Interactive Media & Services - 0.5% |  |  |
| Bytedance Ltd Series E1 (a)(b)(c) | 11980 | 3611970 |
| Health Care - 0.1% |  |  |
| Health Care Providers & Services - 0.1% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (a)(b)(c) | 56711 | 393007 |
| TOTAL CHINA |  | 4004977 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $2,118,173) |  | <br> **4004977** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.4%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.4%** | &nbsp;&nbsp;**Non-Convertible Preferred Stocks - 4.4%** |
|  | Shares | Value ($)<br>|
| KOREA (SOUTH) - 4.4%  |  |  |
| Information Technology - 4.4% |  |  |
| Technology Hardware, Storage & Peripherals - 4.4% |  |  |
| Samsung Electronics Co Ltd non-voting shares <br>(Cost $14,454,489)<br>| 289246 | **31419856** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** | &nbsp;&nbsp;**Money Market Funds - 1.4%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (h) | 3.69 | 4018905 | 4019709 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 6141386 | 6142000 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $10,161,709) |  |  | **10161709** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.2%**<br> (Cost $455,082,998)<br>| <br>**712426317** |
| **NET OTHER ASSETS (LIABILITIES) - 0.8%**  | **5939128** |
| **NET ASSETS - 100.0%** | **718365445** |

---

**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 $7,164,517 or 1.0% 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 $13,803,905 or 1.9% 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 $13,803,905 or 1.9% 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 $394,498 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 | 1312699 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 805474 |
| Space Exploration Technologies Corp | 2/16/2021 | 251993 |

---

---

| | |
|:---|:---|
| 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 | 26079593 | 169661060 | 191719380 | 380481 | (1564) | - | 4019709 | 4018905 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 4448214 | 29840916 | 28146584 | 16380 | (546) | - | 6142000 | 6141386 | 0.0% |
| Total | 30527807 | 199501976 | 219865964 | 396861 | (2110) | - | 10161709 |  |  |

---

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 | 41420891 | - | 41420891 | - |
| Consumer Discretionary | 58159743 | 21417687 | 36742056 | - |
| Consumer Staples | 13699351 | - | 13699351 | - |
| Energy | 12892107 | - | 12892107 | - |
| Financials | 88639384 | - | 88639384 | - |
| Health Care | 22339706 | - | 22339706 | - |
| Industrials | 117749545 | - | 114590005 | 3159540 |
| Information Technology | 275873956 | - | 275873956 | - |
| Materials | 36065092 | - | 36065092 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Communication Services | 3611970 | - | - | 3611970 |
| Health Care | 393007 | - | - | 393007 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 31419856 | - | 31419856 | - |
|  **Money Market Funds** | 10161709 | 10161709 | - | - |
| **Total Investments in Securities:** | 712426317 | 31579396 | 673682404 | 7164517 |

---

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** | 1272000 | - | 1887540 | - | - | - | - | - | 3159540 | 1887540 |
| **Convertible Preferred Stocks** | 3847337 | - | 336784 | - | (179144) | - | - | - | 4004977 | 453828 |
| <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 $5,846,152) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $444,921,289) | $702264608 |  |
| Fidelity Central Funds (cost $10,161,709) | 10161709 |  |
| Total Investment in Securities (cost $455,082,998) |  | $712426317 |
| Foreign currency held at value (cost $24,528) |  | 24533 |
| Receivable for investments sold |  | 14231498 |
| Receivable for fund shares sold |  | 637367 |
| Dividends receivable |  | 735980 |
| Distributions receivable from Fidelity Central Funds |  | 52821 |
| Prepaid expenses |  | 135 |
| Other receivables |  | 250407 |
| **Total assets** |  | 728359058 |
| **Liabilities** |  |  |
| Payable for investments purchased  | $2212191 |  |
| Payable for fund shares redeemed | 182079 |  |
| Accrued management fee | 472161 |  |
| Distribution and service plan fees payable | 72393 |  |
| Deferred taxes | 860215 |  |
| Other payables and accrued expenses | 52574 |  |
| Collateral on securities loaned | 6142000 |  |
| **Total liabilities** |  | 9993613 |
| **Net Assets**  |  | $718365445 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $483746959 |
| Total accumulated earnings (loss) |  | 234618486 |
| **Net Assets** |  | $718365445 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($221,921,136 ÷ 2,839,895 shares)(a) |  | $78.14 |
| Maximum offering price per share (100/94.25 of $78.14) |  | $82.91 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($55,257,277 ÷ 745,237 shares)(a) |  | $74.15 |
| Maximum offering price per share (100/96.50 of $74.15) |  | $76.84 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($10,187,871 ÷ 155,616 shares)(a) |  | $65.47 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($316,842,113 ÷ 3,845,483 shares) |  | $82.39 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($114,157,048 ÷ 1,381,662 shares) |  | $82.62 |
| *(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  |  | $3676624 |
| Income from Fidelity Central Funds (including $16,380 from security lending)  |  | 396861 |
| Security lending |  | 9341 |
| Income before foreign taxes withheld |  | $4082826 |
| Less foreign taxes withheld |  | (591016) |
| **Total income** |  | 3491810 |
| **Expenses** |  |  |
| Management fee | $2602468 |  |
| Distribution and service plan fees | 404766 |  |
| Custodian fees and expenses | 80298 |  |
| Independent trustees' fees and expenses | 914 |  |
| Registration fees | 64825 |  |
| Audit fees | 56855 |  |
| Legal | 1409 |  |
| Miscellaneous | 948 |  |
| **Total expenses** |  | 3212483 |
| **Net Investment income (loss)** |  | 279327 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $2,375,985)  | 49970265 |  |
| Fidelity Central Funds | (2110) |  |
| Foreign currency transactions | (164599) |  |
| Total net realized gain (loss) |  | 49803556 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $3,207,984)  | 74161499 |  |
| Assets and liabilities in foreign currencies | 5519 |  |
| Total change in net unrealized appreciation (depreciation) |  | 74167018 |
| **Net gain (loss)** |  | 123970574 |
| **Net increase (decrease) in net assets resulting from operations** |  | $124249901 |

---

---

| | | |
|:---|:---|:---|
| **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) | $279327 | $(153084) |
| &nbsp;&nbsp;Net realized gain (loss) | 49803556<br>| 96147548<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 74167018 | 55934073<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 124249901<br>| 151928537<br>|
| Share transactions - net increase (decrease) | 11218858<br>| (14817643)<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 135468759<br>| 137110894<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 582896686 | 445785792<br>|
| &nbsp;&nbsp;End of period | $718365445 | $582896686 |

---

**Financial Highlights** 

**Fidelity Advisor® Emerging Asia 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  | $64.57 | $47.74 | $34.91 | $29.31 | $61.78 | $56.33 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.02)  | (.09)  | (.02)  | (.10)  | (.25)  | (.40) C |
| Net realized and unrealized gain (loss)  | 13.59  | 16.92  | 12.85  | 5.70  | (25.86)  | 10.17  |
| Total from investment operations  | 13.57  | 16.83  | 12.83  | 5.60  | (26.11)  | 9.77  |
| Distributions from net realized gain  | -  | -  | -  | -  | (6.36)  | (4.32)  |
| Total distributions  | -  | -  | -  | -  | (6.36)  | (4.32)  |
| Net asset value, end of period  | $78.14 | $64.57 | $47.74 | $34.91 | $29.31 | $61.78 |
| **Total Return** D,E,F | 21.02% <br>| 35.25%  | 36.75%  | 19.11%  | (46.56)%  | 17.45%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.20% I | 1.20%  | 1.24%  | 1.28%  | 1.25%  | 1.20%  |
| Expenses net of fee waivers, if any  | 1.20% I<br>| 1.20%  | 1.24%  | 1.27%  | 1.25%  | 1.20%  |
| Expenses net of all reductions, if any  | 1.20% I | 1.20%  | 1.24%  | 1.27%  | 1.25%  | 1.20%  |
| Net investment income (loss)  | (.06)% I | (.18)%  | (.04)%  | (.28)%  | (.61)%  | (.61)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $221921 | $180664 | $145193 | $122142 | $115657 | $271275 |
| Portfolio turnover rate J | 103% I<br>| 107%  | 59%  | 58%  | 44%  | 79%  |

---

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 (.71)%.*

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® Emerging Asia 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  | $61.35 | $45.47 | $33.33 | $28.07 | $59.60 | $54.51 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.10)  | (.21)  | (.12)  | (.19)  | (.34)  | (.55) C |
| Net realized and unrealized gain (loss)  | 12.90  | 16.09  | 12.26  | 5.45  | (24.83)  | 9.87  |
| Total from investment operations  | 12.80  | 15.88  | 12.14  | 5.26  | (25.17)  | 9.32  |
| Distributions from net realized gain  | -  | -  | -  | -  | (6.36)  | (4.23)  |
| Total distributions  | -  | -  | -  | -  | (6.36)  | (4.23)  |
| Net asset value, end of period  | $74.15 | $61.35 | $45.47 | $33.33 | $28.07 | $59.60 |
| **Total Return** D,E,F | 20.86% <br>| 34.92%  | 36.42%  | 18.74%  | (46.70)%  | 17.18%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.45% I | 1.45%  | 1.49%  | 1.55%  | 1.52%  | 1.45%  |
| Expenses net of fee waivers, if any  | 1.45% I<br>| 1.45%  | 1.49%  | 1.55%  | 1.52%  | 1.45%  |
| Expenses net of all reductions, if any  | 1.45% I | 1.45%  | 1.49%  | 1.54%  | 1.52%  | 1.45%  |
| Net investment income (loss)  | (.31)% I | (.43)%  | (.29)%  | (.55)%  | (.88)%  | (.87)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $55257 | $46941 | $37386 | $30814 | $27239 | $60893 |
| Portfolio turnover rate J | 103% I<br>| 107%  | 59%  | 58%  | 44%  | 79%  |

---

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 (.96)%.*

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® Emerging Asia 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  | $54.30 | $40.44 | $29.79 | $25.21 | $54.45 | $50.22 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | (.23)  | (.40)  | (.27)  | (.31)  | (.48)  | (.80) C |
| Net realized and unrealized gain (loss)  | 11.40  | 14.26  | 10.92  | 4.89  | (22.40)  | 9.10  |
| Total from investment operations  | 11.17  | 13.86  | 10.65  | 4.58  | (22.88)  | 8.30  |
| Distributions from net realized gain  | -  | -  | -  | -  | (6.36)  | (4.07)  |
| Total distributions  | -  | -  | -  | -  | (6.36)  | (4.07)  |
| Net asset value, end of period  | $65.47 | $54.30 | $40.44 | $29.79 | $25.21 | $54.45 |
| **Total Return** D,E,F | 20.57% <br>| 34.27%  | 35.75%  | 18.17%  | (46.94)%  | 16.58%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.94% I | 1.95%  | 1.97%  | 2.01%  | 1.99%  | 1.96%  |
| Expenses net of fee waivers, if any  | 1.94% I<br>| 1.95%  | 1.97%  | 2.01%  | 1.99%  | 1.96%  |
| Expenses net of all reductions, if any  | 1.94% I | 1.95%  | 1.97%  | 2.01%  | 1.99%  | 1.96%  |
| Net investment income (loss)  | (.80)% I | (.92)%  | (.77)%  | (1.02)%  | (1.35)%  | (1.37)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $10188 | $9301 | $9501 | $8864 | $9087 | $26377 |
| Portfolio turnover rate J | 103% I<br>| 107%  | 59%  | 58%  | 44%  | 79%  |

---

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 $.05 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been (1.47)%.*

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 Advisor® Emerging Asia 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  | $67.99 | $50.13 | $36.56 | $30.61 | $64.13 | $58.29 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .07  | .05  | .10  | - C | (.14)  | (.24) D |
| Net realized and unrealized gain (loss)  | 14.33  | 17.81  | 13.47  | 5.95  | (26.95)  | 10.53  |
| Total from investment operations  | 14.40  | 17.86  | 13.57  | 5.95  | (27.09)  | 10.29  |
| Distributions from net investment income  | -  | -  | -  | -  | (.07)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (6.36)  | (4.45)  |
| Total distributions  | -  | -  | -  | -  | (6.43)  | (4.45)  |
| Net asset value, end of period  | $82.39 | $67.99 | $50.13 | $36.56 | $30.61 | $64.13 |
| **Total Return** E,F | 21.18% <br>| 35.63%  | 37.12%  | 19.44%  | (46.41)%  | 17.77%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | .93% I | .93%  | .96%  | .99%  | .97%  | .94%  |
| Expenses net of fee waivers, if any  | .93% I<br>| .93%  | .95%  | .99%  | .97%  | .94%  |
| Expenses net of all reductions, if any  | .93% I | .93%  | .95%  | .99%  | .97%  | .94%  |
| Net investment income (loss)  | .21% I | .09%  | .24%  | -% J | (.33)%  | (.36)% D |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $316842 | $253047 | $170909 | $152325 | $143659 | $472553 |
| Portfolio turnover rate K | 103% I<br>| 107%  | 59%  | 58%  | 44%  | 79%  |

---

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*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 (.45)%.*

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 represents less than .005%.*

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 Asia 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  | $68.13 | $50.17 | $36.53 | $30.55 | $64.10 | $58.22 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .12  | .13  | .16  | .05  | (.08)  | (.15) C |
| Net realized and unrealized gain (loss)  | 14.37  | 17.83  | 13.48  | 5.93  | (26.89)  | 10.50  |
| Total from investment operations  | 14.49  | 17.96  | 13.64  | 5.98  | (26.97)  | 10.35  |
| Distributions from net investment income  | -  | -  | -  | -  | (.22)  | -  |
| Distributions from net realized gain  | -  | -  | -  | -  | (6.36)  | (4.47)  |
| Total distributions  | -  | -  | -  | -  | (6.58)  | (4.47)  |
| Net asset value, end of period  | $82.62 | $68.13 | $50.17 | $36.53 | $30.55 | $64.10 |
| **Total Return** D,E | 21.27% <br>| 35.80%  | 37.34%  | 19.57%  | (46.34)%  | 17.92%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .79% H | .80%  | .83%  | .86%  | .84%  | .81%  |
| Expenses net of fee waivers, if any  | .79% H<br>| .80%  | .82%  | .85%  | .84%  | .81%  |
| Expenses net of all reductions, if any  | .79% H | .80%  | .82%  | .85%  | .84%  | .81%  |
| Net investment income (loss)  | .35% H | .23%  | .37%  | .14%  | (.20)%  | (.22)% C |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $114157 | $92943 | $82797 | $68594 | $73190 | $264327 |
| Portfolio turnover rate I | 103% H<br>| 107%  | 59%  | 58%  | 44%  | 79%  |

---

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 (.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.*

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

For the period ended April 30, 2026

**1. Organization.**

Fidelity Advisor Emerging Asia Fund (the Fund) is a fund of Fidelity Advisor Series VIII (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, 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.

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 | $4004977 | Market comparable  | Enterprise value/Revenue multiple (EV/R)  | 2.0 | 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 | $3159540 | Market comparable  | Enterprise value/EBITDA multiple (EV/EBITDA)  | 89.5 | 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. 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 witheld. Any receivables for withholding tax reclaims are included in the 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 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), net operating losses, 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** | $274027507 |
| **Gross unrealized depreciation** | <u>(23169070)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$250858437</u> |
| **Tax cost** | <u>$461567880</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 | $(51654868) |
| Long-term | <u>(12610916)</u> |
| **Total capital loss carryforward** | <u>$(64265784)</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 Advisor Emerging Asia Fund** | 316249880 | 311056461 |

---

**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** | .88 |
| **Class C** | .87 |
| **Class I** | .86 |
| **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** | .88 |
| **Class M** | .88 |
| **Class C** | .87 |
| **Class I** | .86 |
| **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% | 237825 | 5714 |
| **Class M** | .25% | .25% | 120776 | 2282 |
| **Class C** | .75% | .25% | <u>46165</u> | <u>4339</u> |
|  |  |  | <u>404766</u> | <u>12335</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** | 24434 |
| **Class M** | 404 |
| **Class C**A | 15 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>24853</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 Advisor Emerging Asia Fund** | 268 |

---

**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 Advisor Emerging Asia Fund** | - | 2460318 | 64277 |

---

**Other.** During the period, the investment adviser reimbursed the Fund for certain losses as follows:

---

| | |
|:---|:---|
|  | **Amount ($)** |
| **Fidelity Advisor Emerging Asia Fund** | 4192 |

---

**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 Advisor Emerging Asia Fund** | 382 |

---

**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 Advisor Emerging Asia Fund** | 2783 | - | - |

---

**8. 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 Advisor Emerging Asia Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 222660 | 164093 | $15269319 | $8770177 |
| Shares redeemed | <u>(180768)</u> | <u>(407566)</u> | <u>(12182893)</u> | <u>(21165144)</u> |
| Net increase (decrease) | <u>41892</u> | <u>(243473)</u> | <u>$3086426</u> | <u>$(12394967)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 31225 | 53368 | $1990542 | $2773947 |
| Shares redeemed | <u>(51177)</u> | <u>(110427)</u> | <u>(3222109)</u> | <u>(5424707)</u> |
| Net increase (decrease) | <u>(19952)</u> | <u>(57059)</u> | <u>$(1231567)</u> | <u>$(2650760)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 30536 | 21176 | $1787554 | $929207 |
| Shares redeemed | <u>(46213)</u> | <u>(84799)</u> | <u>(2607815)</u> | <u>(3754799)</u> |
| Net increase (decrease) | <u>(15677)</u> | <u>(63623)</u> | <u>$(820261)</u> | <u>$(2825592)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 580940 | 1542615 | $41466804 | $83376015 |
| Shares redeemed | <u>(457108)</u> | <u>(1230090)</u> | <u>(32659193)</u> | <u>(66422373)</u> |
| Net increase (decrease) | <u>123832</u> | <u>312525</u> | <u>$8807611</u> | <u>$16953642</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 144913 | 319869 | $10302333 | $17585093 |
| Shares redeemed | <u>(127386)</u> | <u>(606157)</u> | <u>(8925684)</u> | <u>(31485059)</u> |
| Net increase (decrease) | <u>17527</u> | <u>(286288)</u> | <u>$1376649</u> | <u>$(13899966)</u> |

---

**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.

![](img131298_4.jpg)<br>

1.703637.128 AEA-SANN-0626

**Fidelity Advisor® Diversified International Fund**

**Semi-Annual Report**

**April 30, 2026**

![](img131299_1.jpg)

![](img131299_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)](#Sec_Item7_ADIF-SANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity Advisor® Diversified International Fund](#Sub_Sec_Fund_731_ADIF-SANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements731_ADIF-SANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_ADIF-SANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_ADIF-SANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_ADIF-SANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_ADIF-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 1-877-208-0098 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 Advisor® Diversified International Fund**

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

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 96.9%** | &nbsp;&nbsp;**Common Stocks - 96.9%** | &nbsp;&nbsp;**Common Stocks - 96.9%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 1.3%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Aristocrat Leisure Ltd  | 173631 | 5973860 |
| Financials - 0.2% |  |  |
| Insurance - 0.2% |  |  |
| Steadfast Group Ltd  | 281207 | 864946 |
| Suncorp Group Ltd  | 151766 | 1888634 |
| TOTAL FINANCIALS |  | 2753580 |
| Materials - 0.8% |  |  |
| Metals & Mining - 0.8% |  |  |
| Rio Tinto PLC  | 134000 | 13498702 |
| TOTAL AUSTRALIA |  | 22226142 |
| BELGIUM - 2.1%  |  |  |
| Financials - 1.4% |  |  |
| Banks - 1.4% |  |  |
| KBC Group NV  | 170900 | 22715321 |
| Health Care - 0.7% |  |  |
| Pharmaceuticals - 0.7% |  |  |
| Financiere de Tubize SA  | 7561 | 1736635 |
| UCB SA (a) | 40158 | 10896789 |
| TOTAL HEALTH CARE |  | 12633424 |
| TOTAL BELGIUM |  | 35348745 |
| BRAZIL - 0.2%  |  |  |
| Financials - 0.2% |  |  |
| Banks - 0.2% |  |  |
| NU Holdings Ltd/Cayman Islands Class A (a) | 285900 | 4139832 |
| CANADA - 3.8%  |  |  |
| Consumer Discretionary - 0.5% |  |  |
| Broadline Retail - 0.5% |  |  |
| Dollarama Inc  | 73200 | 9355114 |
| Energy - 2.3% |  |  |
| Oil, Gas & Consumable Fuels - 2.3% |  |  |
| Cameco Corp  | 21884 | 2690168 |
| Canadian Natural Resources Ltd  | 357202 | 17050817 |
| Imperial Oil Ltd  | 141974 | 19018361 |
| TOTAL ENERGY |  | 38759346 |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Franco-Nevada Corp  | 73489 | 16954381 |
| G Mining Ventures Corp (a) | 22900 | 793707 |
| TOTAL MATERIALS |  | 17748088 |
| TOTAL CANADA |  | 65862548 |
| CHILE - 1.0%  |  |  |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Antofagasta PLC  | 374300 | 18078623 |
| CHINA - 1.0%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Broadline Retail - 0.6% |  |  |
| Prosus NV Class N  | 207400 | 10040859 |
| Industrials - 0.4% |  |  |
| Machinery - 0.4% |  |  |
| Airtac International Group  | 170000 | 7962543 |
| TOTAL CHINA |  | 18003402 |
| DENMARK - 1.9%  |  |  |
| Industrials - 1.7% |  |  |
| Air Freight & Logistics - 1.5% |  |  |
| DSV A/S  | 107300 | 26264035 |
| Electrical Equipment - 0.2% |  |  |
| Vestas Wind Systems A/S  | 85100 | 2616774 |
| TOTAL INDUSTRIALS |  | 28880809 |
| Materials - 0.2% |  |  |
| Chemicals - 0.2% |  |  |
| Novonesis Novozymes B Series B  | 49400 | 3035421 |
| TOTAL DENMARK |  | 31916230 |
| FINLAND - 0.8%  |  |  |
| Information Technology - 0.8% |  |  |
| Communications Equipment - 0.8% |  |  |
| Nokia Oyj  | 1117800 | 13912763 |
| FRANCE - 4.9%  |  |  |
| Communication Services - 0.6% |  |  |
| Diversified Telecommunication Services - 0.6% |  |  |
| Orange SA  | 457000 | 9515815 |
| Consumer Discretionary - 0.4% |  |  |
| Textiles, Apparel & Luxury Goods - 0.4% |  |  |
| LVMH Moet Hennessy Louis Vuitton SE  | 12856 | 6810924 |
| Consumer Staples - 0.6% |  |  |
| Food Products - 0.3% |  |  |
| Danone SA  | 66900 | 5241485 |
| Personal Care Products - 0.3% |  |  |
| L'Oreal SA  | 10200 | 4382068 |
| TOTAL CONSUMER STAPLES |  | 9623553 |
| Energy - 0.0% |  |  |
| Oil, Gas & Consumable Fuels - 0.0% |  |  |
| Gaztransport Et Technigaz SA  | 3600 | 874604 |
| Financials - 0.3% |  |  |
| Capital Markets - 0.3% |  |  |
| Amundi SA (c)(d) | 46042 | 4441857 |
| Industrials - 1.6% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| Airbus SE  | 8400 | 1731739 |
| Safran SA  | 57558 | 18482612 |
|  |  | 20214351 |
| Electrical Equipment - 0.4% |  |  |
| Legrand SA  | 40141 | 7191807 |
| TOTAL INDUSTRIALS |  | 27406158 |
| Materials - 1.1% |  |  |
| Chemicals - 1.1% |  |  |
| Air Liquide SA  | 90418 | 19452566 |
| Utilities - 0.3% |  |  |
| Multi-Utilities - 0.3% |  |  |
| Veolia Environnement SA  | 131200 | 5548344 |
| TOTAL FRANCE |  | 83673821 |
| GERMANY - 8.5%  |  |  |
| Financials - 3.7% |  |  |
| Capital Markets - 0.9% |  |  |
| Deutsche Boerse AG  | 50168 | 15391436 |
| Insurance - 2.8% |  |  |
| Allianz SE  | 61990 | 28312849 |
| Hannover Rueck SE  | 24636 | 7448257 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen  | 18982 | 11379717 |
|  |  | 47140823 |
| TOTAL FINANCIALS |  | 62532259 |
| Health Care - 0.6% |  |  |
| Health Care Providers & Services - 0.6% |  |  |
| Fresenius SE & Co KGaA  | 227700 | 11027422 |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 0.5% |  |  |
| Rheinmetall AG  | 5804 | 9235526 |
| Electrical Equipment - 1.9% |  |  |
| Siemens Energy AG  | 153800 | 32596021 |
| Industrial Conglomerates - 0.8% |  |  |
| Siemens AG  | 44660 | 13271218 |
| TOTAL INDUSTRIALS |  | 55102765 |
| Information Technology - 0.5% |  |  |
| Software - 0.5% |  |  |
| SAP SE  | 51074 | 8574977 |
| Materials - 0.5% |  |  |
| Construction Materials - 0.5% |  |  |
| Heidelberg Materials AG  | 42700 | 9421468 |
| TOTAL GERMANY |  | 146658891 |
| HONG KONG - 2.0%  |  |  |
| Financials - 2.0% |  |  |
| Insurance - 2.0% |  |  |
| AIA Group Ltd  | 1995582 | 21909035 |
| Prudential PLC  | 782200 | 11787402 |
| Prudential PLC rights (a)(b) | 782200 | 148376 |
| TOTAL HONG KONG |  | 33844813 |
| IRELAND - 1.0%  |  |  |
| Industrials - 1.0% |  |  |
| Building Products - 1.0% |  |  |
| Kingspan Group PLC  | 183911 | 16976378 |
| ISRAEL - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Pharmaceuticals - 0.2% |  |  |
| Teva Pharmaceutical Industries Ltd ADR (a) | 99600 | 3492972 |
| ITALY - 4.4%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Hotels, Restaurants & Leisure - 0.3% |  |  |
| Lottomatica Group Spa  | 185900 | 5471993 |
| Consumer Staples - 1.1% |  |  |
| Beverages - 1.1% |  |  |
| Coca-Cola HBC AG  | 312300 | 18188383 |
| Financials - 2.1% |  |  |
| Banks - 2.1% |  |  |
| FinecoBank Banca Fineco SpA  | 391167 | 9677684 |
| Intesa Sanpaolo SpA  | 2087900 | 14185678 |
| UniCredit SpA  | 169736 | 13117603 |
| TOTAL FINANCIALS |  | 36980965 |
| Industrials - 0.9% |  |  |
| Electrical Equipment - 0.3% |  |  |
| Prysmian SpA  | 37200 | 5658463 |
| Machinery - 0.2% |  |  |
| Interpump Group SpA  | 61800 | 2595179 |
| Passenger Airlines - 0.4% |  |  |
| Ryanair Holdings PLC ADR  | 132558 | 7244295 |
| TOTAL INDUSTRIALS |  | 15497937 |
| TOTAL ITALY |  | 76139278 |
| JAPAN - 20.2%  |  |  |
| Consumer Discretionary - 1.9% |  |  |
| Automobiles - 0.4% |  |  |
| Toyota Motor Corp  | 381100 | 7315374 |
| Household Durables - 0.9% |  |  |
| Panasonic Holdings Corp  | 751200 | 15366404 |
| Specialty Retail - 0.6% |  |  |
| Fast Retailing Co Ltd  | 21116 | 9940259 |
| TOTAL CONSUMER DISCRETIONARY |  | 32622037 |
| Financials - 3.2% |  |  |
| Banks - 1.9% |  |  |
| Mizuho Financial Group Inc  | 140300 | 6033281 |
| Sumitomo Mitsui Financial Group Inc  | 750630 | 26504035 |
|  |  | 32537316 |
| Financial Services - 0.8% |  |  |
| ORIX Corp  | 391571 | 13178906 |
| Insurance - 0.5% |  |  |
| Tokio Marine Holdings Inc  | 208471 | 9547299 |
| TOTAL FINANCIALS |  | 55263521 |
| Health Care - 2.1% |  |  |
| Health Care Equipment & Supplies - 1.5% |  |  |
| Hoya Corp  | 139785 | 26103983 |
| Pharmaceuticals - 0.6% |  |  |
| Chugai Pharmaceutical Co Ltd  | 105500 | 5626252 |
| Takeda Pharmaceutical Co Ltd  | 140100 | 4683934 |
|  |  | 10310186 |
| TOTAL HEALTH CARE |  | 36414169 |
| Industrials - 8.0% |  |  |
| Building Products - 0.3% |  |  |
| Daikin Industries Ltd  | 31700 | 4479058 |
| Electrical Equipment - 0.3% |  |  |
| Fujikura Ltd  | 82100 | 3167665 |
| Furukawa Electric Co Ltd  | 10100 | 2743027 |
|  |  | 5910692 |
| Industrial Conglomerates - 1.5% |  |  |
| Hitachi Ltd  | 820440 | 26088637 |
| Machinery - 3.1% |  |  |
| Ebara Corp  | 391700 | 13399239 |
| Japan Steel Works Ltd/The  | 54200 | 3312198 |
| Kawasaki Heavy Industries Ltd  | 529000 | 10875400 |
| Mitsubishi Heavy Industries Ltd  | 838118 | 25014385 |
|  |  | 52601222 |
| Trading Companies & Distributors - 2.8% |  |  |
| ITOCHU Corp  | 1898075 | 23523052 |
| Marubeni Corp  | 253300 | 9858714 |
| Sumitomo Corp  | 188200 | 6997691 |
| Toyota Tsusho Corp  | 180000 | 7066045 |
|  |  | 47445502 |
| TOTAL INDUSTRIALS |  | 136525111 |
| Information Technology - 4.0% |  |  |
| Semiconductors & Semiconductor Equipment - 4.0% |  |  |
| Advantest Corp  | 133700 | 24964273 |
| Disco Corp  | 4600 | 2188599 |
| Kioxia Holdings Corp (a) | 800 | 193567 |
| Lasertec Corp  | 18500 | 5113001 |
| Renesas Electronics Corp  | 1306344 | 26417735 |
| Rohm Co Ltd  | 298000 | 6447218 |
| Tokyo Electron Ltd  | 13500 | 3978218 |
| TOTAL INFORMATION TECHNOLOGY |  | 69302611 |
| Materials - 1.0% |  |  |
| Chemicals - 1.0% |  |  |
| Nissan Chemical Corp  | 114900 | 4968223 |
| Shin-Etsu Chemical Co Ltd  | 269154 | 12392443 |
| TOTAL MATERIALS |  | 17360666 |
| TOTAL JAPAN |  | 347488115 |
| KOREA (SOUTH) - 3.2%  |  |  |
| Information Technology - 3.2% |  |  |
| Semiconductors & Semiconductor Equipment - 1.8% |  |  |
| SK Hynix Inc  | 33910 | 30433987 |
| Technology Hardware, Storage & Peripherals - 1.4% |  |  |
| Samsung Electronics Co Ltd  | 158120 | 23963769 |
| TOTAL KOREA (SOUTH) |  | 54397756 |
| MEXICO - 0.2%  |  |  |
| Materials - 0.2% |  |  |
| Construction Materials - 0.2% |  |  |
| Cemex SAB de CV ADR  | 348400 | 4285320 |
| NETHERLANDS - 4.2%  |  |  |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.2% |  |  |
| Argenx SE (a) | 4195 | 3289836 |
| Industrials - 0.1% |  |  |
| Professional Services - 0.1% |  |  |
| Wolters Kluwer NV  | 21439 | 1673217 |
| Information Technology - 3.9% |  |  |
| Semiconductors & Semiconductor Equipment - 3.9% |  |  |
| ASM International NV  | 6100 | 5946486 |
| ASML Holding NV depository receipt  | 39150 | 56336459 |
| BE Semiconductor Industries NV  | 16345 | 4742113 |
| TOTAL INFORMATION TECHNOLOGY |  | 67025058 |
| TOTAL NETHERLANDS |  | 71988111 |
| POLAND - 0.0%  |  |  |
| Consumer Discretionary - 0.0% |  |  |
| Broadline Retail - 0.0% |  |  |
| Allegro.eu SA (a)(c)(d) | 159700 | 1310493 |
| SINGAPORE - 1.1%  |  |  |
| Financials - 1.1% |  |  |
| Banks - 1.1% |  |  |
| DBS Group Holdings Ltd  | 411400 | 18969928 |
| SPAIN - 5.0%  |  |  |
| Consumer Discretionary - 0.3% |  |  |
| Specialty Retail - 0.3% |  |  |
| Industria de Diseno Textil SA (e) | 94970 | 5637725 |
| Financials - 4.2% |  |  |
| Banks - 4.2% |  |  |
| Banco Santander SA  | 3459305 | 42142938 |
| CaixaBank SA  | 2359322 | 30030287 |
| TOTAL FINANCIALS |  | 72173225 |
| Utilities - 0.5% |  |  |
| Electric Utilities - 0.5% |  |  |
| Iberdrola SA  | 358500 | 8404756 |
| TOTAL SPAIN |  | 86215706 |
| SWEDEN - 2.7%  |  |  |
| Financials - 1.2% |  |  |
| Financial Services - 1.2% |  |  |
| Investor AB B Shares  | 525891 | 21188861 |
| Industrials - 1.3% |  |  |
| Building Products - 0.5% |  |  |
| Assa Abloy AB B Shares  | 219500 | 8354206 |
| Machinery - 0.8% |  |  |
| Atlas Copco AB A Shares  | 409800 | 7731950 |
| Epiroc AB A Shares  | 108100 | 3120783 |
| Indutrade AB  | 123971 | 2647866 |
|  |  | 13500599 |
| TOTAL INDUSTRIALS |  | 21854805 |
| Information Technology - 0.2% |  |  |
| Electronic Equipment, Instruments & Components - 0.2% |  |  |
| Hexagon AB B Shares  | 313900 | 3374015 |
| Software - 0.0% |  |  |
| Kry International Ab (a)(f)(g) | 15457 | 122996 |
| TOTAL INFORMATION TECHNOLOGY |  | 3497011 |
| TOTAL SWEDEN |  | 46540677 |
| SWITZERLAND - 1.5%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Textiles, Apparel & Luxury Goods - 0.7% |  |  |
| Cie Financiere Richemont SA Series A  | 65024 | 12479237 |
| Financials - 0.8% |  |  |
| Insurance - 0.8% |  |  |
| Zurich Insurance Group AG  | 20370 | 14202377 |
| TOTAL SWITZERLAND |  | 26681614 |
| TAIWAN - 2.6%  |  |  |
| Industrials - 0.1% |  |  |
| Electrical Equipment - 0.1% |  |  |
| Bizlink Holding Inc  | 19000 | 1711499 |
| Information Technology - 2.5% |  |  |
| Semiconductors & Semiconductor Equipment - 2.5% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd  | 25000 | 1741069 |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 103667 | 41058352 |
| TOTAL INFORMATION TECHNOLOGY |  | 42799421 |
| TOTAL TAIWAN |  | 44510920 |
| UNITED KINGDOM - 15.1%  |  |  |
| Communication Services - 0.1% |  |  |
| Diversified Telecommunication Services - 0.1% |  |  |
| Zegona Communications plc  | 92183 | 2210218 |
| Consumer Discretionary - 0.9% |  |  |
| Hotels, Restaurants & Leisure - 0.7% |  |  |
| Compass Group PLC  | 418758 | 11829914 |
| Leisure Products - 0.2% |  |  |
| Games Workshop Group PLC  | 15328 | 4065141 |
| TOTAL CONSUMER DISCRETIONARY |  | 15895055 |
| Consumer Staples - 1.4% |  |  |
| Tobacco - 1.4% |  |  |
| British American Tobacco PLC  | 408900 | 24082096 |
| Financials - 5.7% |  |  |
| Banks - 4.7% |  |  |
| HSBC Holdings PLC  | 515800 | 9490630 |
| Lloyds Banking Group PLC  | 23266700 | 31626497 |
| NatWest Group PLC  | 3377900 | 26941715 |
| Standard Chartered PLC  | 370600 | 9437266 |
| Starling Bank Ltd (f)(g) | 1191700 | 3551317 |
|  |  | 81047425 |
| Capital Markets - 0.8% |  |  |
| 3i Group PLC  | 246381 | 8568579 |
| London Stock Exchange Group PLC  | 42055 | 5465115 |
|  |  | 14033694 |
| Insurance - 0.2% |  |  |
| Admiral Group PLC  | 72900 | 3350931 |
| TOTAL FINANCIALS |  | 98432050 |
| Health Care - 2.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Convatec Group PLC (c)(d) | 1348200 | 3866402 |
| Pharmaceuticals - 2.2% |  |  |
| Astrazeneca PLC  | 142589 | 27063023 |
| GSK PLC  | 407200 | 10675756 |
|  |  | 37738779 |
| TOTAL HEALTH CARE |  | 41605181 |
| Industrials - 3.2% |  |  |
| Aerospace & Defense - 3.0% |  |  |
| BAE Systems PLC  | 587493 | 16340272 |
| Rolls-Royce Holdings PLC  | 2179938 | 35078604 |
|  |  | 51418876 |
| Trading Companies & Distributors - 0.2% |  |  |
| RS GROUP PLC  | 358179 | 2934100 |
| TOTAL INDUSTRIALS |  | 54352976 |
| Utilities - 1.4% |  |  |
| Electric Utilities - 1.0% |  |  |
| SSE PLC  | 480300 | 17196846 |
| Multi-Utilities - 0.4% |  |  |
| National Grid PLC  | 377600 | 6759260 |
| TOTAL UTILITIES |  | 23956106 |
| TOTAL UNITED KINGDOM |  | 260533682 |
| UNITED STATES - 8.0%  |  |  |
| Consumer Discretionary - 0.8% |  |  |
| Hotels, Restaurants & Leisure - 0.8% |  |  |
| InterContinental Hotels Group PLC  | 98778 | 14135132 |
| Energy - 1.9% |  |  |
| Oil, Gas & Consumable Fuels - 1.9% |  |  |
| Shell PLC  | 736301 | 33477255 |
| Health Care - 1.4% |  |  |
| Health Care Equipment & Supplies - 0.2% |  |  |
| Alcon AG  | 44884 | 3344399 |
| Pharmaceuticals - 1.2% |  |  |
| Roche Holding AG  | 47310 | 19278818 |
| Viatris Inc  | 60400 | 902376 |
|  |  | 20181194 |
| TOTAL HEALTH CARE |  | 23525593 |
| Industrials - 2.1% |  |  |
| Electrical Equipment - 1.9% |  |  |
| Schneider Electric SE  | 100319 | 31922391 |
| Trading Companies & Distributors - 0.2% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 17997 | 4753396 |
| TOTAL INDUSTRIALS |  | 36675787 |
| Materials - 1.8% |  |  |
| Chemicals - 0.2% |  |  |
| Linde PLC  | 5642 | 2827432 |
| Construction Materials - 1.6% |  |  |
| CRH PLC  | 174247 | 20634330 |
| Holcim AG  | 73579 | 6837433 |
|  |  | 27471763 |
| TOTAL MATERIALS |  | 30299195 |
| TOTAL UNITED STATES |  | 138112962 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $1,028,830,669) |  | <br> **1671309722** |

---

---

| | | |
|:---|:---|:---|
| &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 (a)(f)(g) | 70 | 623850 |
| Valsoft Corp Series A-1.3 (a)(f)(g) | 25 | 222803 |
| Valsoft Corp Series A-1.4 (a)(f)(g) | 32 | 285188 |
| TOTAL CANADA |  | 1131841 |
| ESTONIA - 0.1%  |  |  |
| Information Technology - 0.1% |  |  |
| Software - 0.1% |  |  |
| Bolt Technology OU Series E (a)(f)(g) | 10541 | 2188014 |
| UNITED STATES - 0.3%  |  |  |
| Information Technology - 0.3% |  |  |
| Technology Hardware, Storage & Peripherals - 0.3% |  |  |
| Wasabi Holdings Inc Series C (a)(f)(g) | 372910 | 4709853 |
| Wasabi Holdings Inc Series D (a)(f)(g) | 39419 | 746202 |
| Wasabi Holdings Inc Series D1 (f)(g) | 17786 | 323349 |
| TOTAL UNITED STATES |  | 5779404 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $9,175,693) |  | <br> **9099259** |

---

---

| | | |
|:---|:---|:---|
| &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 $6,104,584)<br>| 20474 | **5219166** |

---

---

| | | | |
|:---|:---|:---|:---|
| &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 | 29229442 | 29235288 |
| Fidelity Securities Lending Cash Central Fund (h)(i) | 3.69 | 4728909 | 4729381 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $33,964,317) |  |  | **33964669** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.7%**<br> (Cost $1,078,075,263)<br>| <br>**1719592816** |
| **NET OTHER ASSETS (LIABILITIES) - 0.3%**  | **4453774** |
| **NET ASSETS - 100.0%** | **1724046590** |

---

**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 $9,618,752 or 0.6% 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 $9,618,752 or 0.6% 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 $12,773,572 or 0.7% 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 | 2738515 |
| Kry International Ab | 5/14/2021 - 10/30/2024 | 1022023 |
| Starling Bank Ltd | 6/18/2021 - 4/5/2022 | 2273443 |
| Valsoft Corp Series A-1.2 | 3/14/2025 | 819960 |
| Valsoft Corp Series A-1.3 | 3/17/2025 | 248172 |
| Valsoft Corp Series A-1.4 | 3/17/2025 | 421167 |
| Wasabi Holdings Inc Series C | 3/31/2021 | 4051518 |
| Wasabi Holdings Inc Series D | 9/9/2022 | 560006 |
| Wasabi Holdings Inc Series D1 | 11/14/2025 | 336355 |

---

**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 | 36599527 | 165079301 | 172441785 | 685157 | (1755) | - | 29235288 | 29229442 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 17082992 | 74736092 | 87089365 | 20098 | (338) | - | 4729381 | 4728909 | 0.0% |
| Total | 53682519 | 239815393 | 259531150 | 705255 | (2093) | - | 33964669 |  |  |

---

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 | 11726033 | 2210218 | 9515815 | - |
| Consumer Discretionary | 119732429 | 58616436 | 61115993 | - |
| Consumer Staples | 51894032 | 22570451 | 29323581 | - |
| Energy | 73111205 | 39633950 | 33477255 | - |
| Financials | 447638589 | 132098889 | 311988383 | 3551317 |
| Health Care | 131988597 | 66715012 | 65273585 | - |
| Industrials | 404619985 | 121332952 | 283287033 | - |
| Information Technology | 259509597 | 125370188 | 134016413 | 122996 |
| Materials | 133180049 | 63573793 | 69606256 | - |
| Utilities | 37909206 | - | 37909206 | - |
|  **Convertible Preferred Stocks** |  |  |  |  |
| Information Technology | 9099259 | - | - | 9099259 |
|  **Non-Convertible Preferred Stocks** |  |  |  |  |
| Health Care | 5219166 | 5219166 | - | - |
|  **Money Market Funds** | 33964669 | 33964669 | - | - |
| **Total Investments in Securities:** | 1719592816 | 671305724 | 1035513520 | 12773572 |

---

**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 $4,507,753) - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,044,110,946) | $1685628147 |  |
| Fidelity Central Funds (cost $33,964,317) | 33964669 |  |
| Total Investment in Securities (cost $1,078,075,263) |  | $1719592816 |
| Foreign currency held at value (cost $805,399) |  | 805197 |
| Receivable for investments sold |  | 2472653 |
| Receivable for fund shares sold |  | 803714 |
| Dividends receivable |  | 7079608 |
| Reclaims receivable |  | 5176826 |
| Distributions receivable from Fidelity Central Funds |  | 114190 |
| Prepaid expenses |  | 420 |
| Other receivables |  | 37869 |
| **Total assets** |  | 1736083293 |
| **Liabilities** |  |  |
| Payable for investments purchased |  |  |
| Regular delivery | $5037801 |  |
| Delayed delivery | 150635 |  |
| Payable for fund shares redeemed | 751275 |  |
| Accrued management fee | 1132194 |  |
| Distribution and service plan fees payable | 191996 |  |
| Other payables and accrued expenses | 43420 |  |
| Collateral on securities loaned | 4729382 |  |
| **Total liabilities** |  | 12036703 |
| **Net Assets**  |  | $1724046590 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $991167244 |
| Total accumulated earnings (loss) |  | 732879346 |
| **Net Assets** |  | $1724046590 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Class A :** |  |  |
| **Net Asset Value** and redemption price per share ($562,582,246 ÷ 18,939,064 shares)(a) |  | $29.70 |
| Maximum offering price per share (100/94.25 of $29.70) |  | $31.51 |
| **Class M :** |  |  |
| **Net Asset Value** and redemption price per share ($152,630,452 ÷ 5,218,524 shares)(a) |  | $29.25 |
| Maximum offering price per share (100/96.50 of $29.25) |  | $30.31 |
| **Class C :** |  |  |
| **Net Asset Value** and offering price per share ($17,103,919 ÷ 619,840 shares)(a) |  | $27.59 |
| **Class I :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($651,240,653 ÷ 21,326,936 shares) |  | $30.54 |
| **Class Z :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($340,489,320 ÷ 11,185,034 shares) |  | $30.44 |
| *(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  |  | $17415730 |
| Income from Fidelity Central Funds (including $20,098 from security lending)  |  | 705255 |
| Income before foreign taxes withheld |  | $18120985 |
| Less foreign taxes withheld |  | (1670513) |
| **Total income** |  | 16450472 |
| **Expenses** |  |  |
| Management fee | $6661640 |  |
| Distribution and service plan fees | 1134311 |  |
| Custodian fees and expenses | 48608 |  |
| Independent trustees' fees and expenses | 2576 |  |
| Registration fees | 45277 |  |
| Audit fees | 41415 |  |
| Legal | 1477 |  |
| Miscellaneous | 2310 |  |
| Total expenses before reductions | 7937614 |  |
| Expense reductions | (134) |  |
| Total expenses after reductions |  | 7937480 |
| **Net Investment income (loss)** |  | 8512992 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of foreign taxes of $1,657,715)  | 104618536 |  |
| Fidelity Central Funds | (2093) |  |
| Foreign currency transactions | 121269 |  |
| Total net realized gain (loss) |  | 104737712 |
| Change in net unrealized appreciation (depreciation) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers (net of decrease in deferred foreign taxes of $1,789,717)  | 47359022 |  |
| Assets and liabilities in foreign currencies | 215832 |  |
| Total change in net unrealized appreciation (depreciation) |  | 47574854 |
| **Net gain (loss)** |  | 152312566 |
| **Net increase (decrease) in net assets resulting from operations** |  | $160825558 |

---

---

| | | |
|:---|:---|:---|
| **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) | $8512992 | $16031352 |
| &nbsp;&nbsp;Net realized gain (loss) | 104737712<br>| 179053213<br>|
| &nbsp;&nbsp;Change in net unrealized appreciation (depreciation) | 47574854 | 91274807<br>|
| &nbsp;&nbsp;**Net increase (decrease) in net assets resulting from operations** | 160825558<br>| 286359372<br>|
| Distributions to shareholders | (201667530)<br>| (80749855)<br>|
| Share transactions - net increase (decrease) | 135500338<br>| 19737274<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 94658366<br>| 225346791<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1629388224 | 1404041433<br>|
| &nbsp;&nbsp;End of period | $1724046590 | $1629388224 |

---

**Financial Highlights** 

**Fidelity Advisor® Diversified International 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  | $30.87 | $27.05 | $22.68 | $20.71 | $32.52 | $25.10 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .13  | .26  | .21  | .23  | .16  | .09  |
| Net realized and unrealized gain (loss)  | 2.56  | 5.11  | 5.17  | 2.16  | (8.81)  | 7.33  |
| Total from investment operations  | 2.69  | 5.37  | 5.38  | 2.39  | (8.65)  | 7.42  |
| Distributions from net investment income  | (.42)  | (.41)  | (.31)  | (.02)  | (.31)  | -  |
| Distributions from net realized gain  | (3.44)  | (1.14)  | (.71)  | (.40)  | (2.85)  | -  |
| Total distributions  | (3.86)  | (1.55)  | (1.01) C | (.42)  | (3.16)  | -  |
| Net asset value, end of period  | $29.70 | $30.87 | $27.05 | $22.68 | $20.71 | $32.52 |
| **Total Return** D,E,F | 9.87% <br>| 21.01%  | 24.35%  | 11.55%  | (29.28)%  | 29.56%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |  |  |
| Expenses before reductions  | 1.09% I | 1.11%  | 1.14%  | 1.18%  | 1.16%  | 1.16%  |
| Expenses net of fee waivers, if any  | 1.09% I<br>| 1.11%  | 1.14%  | 1.17%  | 1.16%  | 1.15%  |
| Expenses net of all reductions, if any  | 1.09% I | 1.11%  | 1.14%  | 1.17%  | 1.16%  | 1.15%  |
| Net investment income (loss)  | .88% I | .95%  | .81%  | .98%  | .65%  | .30%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $562582 | $541813 | $480646 | $420844 | $400266 | $621221 |
| Portfolio turnover rate J | 49% I<br>| 46%  | 33% K | 23% K | 20%  | 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 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.*

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

**Fidelity Advisor® Diversified International 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  | $30.41 | $26.67 | $22.37 | $20.47 | $32.17 | $24.90 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .09  | .19  | .14  | .17  | .10  | .01  |
| Net realized and unrealized gain (loss)  | 2.54  | 5.03  | 5.11  | 2.13  | (8.72)  | 7.26  |
| Total from investment operations  | 2.63  | 5.22  | 5.25  | 2.30  | (8.62)  | 7.27  |
| Distributions from net investment income  | (.35)  | (.34)  | (.24)  | -  | (.23)  | -  |
| Distributions from net realized gain  | (3.44)  | (1.14)  | (.71)  | (.40)  | (2.85)  | -  |
| Total distributions  | (3.79)  | (1.48)  | (.95)  | (.40)  | (3.08)  | -  |
| Net asset value, end of period  | $29.25 | $30.41 | $26.67 | $22.37 | $20.47 | $32.17 |
| **Total Return** C,D,E | 9.79% <br>| 20.70%  | 24.03%  | 11.24%  | (29.46)%  | 29.20%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.34% H | 1.36%  | 1.39%  | 1.44%  | 1.42%  | 1.41%  |
| Expenses net of fee waivers, if any  | 1.34% H<br>| 1.36%  | 1.39%  | 1.43%  | 1.41%  | 1.41%  |
| Expenses net of all reductions, if any  | 1.34% H | 1.36%  | 1.39%  | 1.43%  | 1.41%  | 1.41%  |
| Net investment income (loss)  | .63% H | .70%  | .56%  | .73%  | .39%  | .04%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $152630 | $144907 | $132129 | $120050 | $117565 | $183285 |
| Portfolio turnover rate I | 49% H<br>| 46%  | 33% J | 23% J | 20%  | 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*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.*

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

**Fidelity Advisor® Diversified International 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  | $28.85 | $25.35 | $21.27 | $19.58 | $30.84 | $23.99 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .02  | .05  | .02  | .04  | (.04)  | (.14)  |
| Net realized and unrealized gain (loss)  | 2.38  | 4.79  | 4.86  | 2.05  | (8.37)  | 6.99  |
| Total from investment operations  | 2.40  | 4.84  | 4.88  | 2.09  | (8.41)  | 6.85  |
| Distributions from net investment income  | (.22)  | (.20)  | (.09)  | -  | -  | -  |
| Distributions from net realized gain  | (3.44)  | (1.14)  | (.71)  | (.40)  | (2.85)  | -  |
| Total distributions  | (3.66)  | (1.34)  | (.80)  | (.40)  | (2.85)  | -  |
| Net asset value, end of period  | $27.59 | $28.85 | $25.35 | $21.27 | $19.58 | $30.84 |
| **Total Return** C,D,E | 9.46% <br>| 20.11%  | 23.43%  | 10.67%  | (29.88)%  | 28.55%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | 1.84% H | 1.86%  | 1.88%  | 1.99%  | 1.96%  | 1.95%  |
| Expenses net of fee waivers, if any  | 1.84% H<br>| 1.86%  | 1.88%  | 1.98%  | 1.96%  | 1.95%  |
| Expenses net of all reductions, if any  | 1.84% H | 1.86%  | 1.88%  | 1.98%  | 1.96%  | 1.95%  |
| Net investment income (loss)  | .13% H | .20%  | .07%  | .18%  | (.16)%  | (.50)%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $17104 | $16040 | $16784 | $18165 | $21370 | $39465 |
| Portfolio turnover rate I | 49% H<br>| 46%  | 33% J | 23% J | 20%  | 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*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.*

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

**Fidelity Advisor® Diversified International 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  | $31.66 | $27.70 | $23.20 | $21.19 | $33.20 | $25.57 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .17  | .34  | .28  | .30  | .23  | .17  |
| Net realized and unrealized gain (loss)  | 2.64  | 5.24  | 5.29  | 2.20  | (9.00)  | 7.47  |
| Total from investment operations  | 2.81  | 5.58  | 5.57  | 2.50  | (8.77)  | 7.64  |
| Distributions from net investment income  | (.49)  | (.47)  | (.36)  | (.09)  | (.39)  | (.01)  |
| Distributions from net realized gain  | (3.44)  | (1.14)  | (.71)  | (.40)  | (2.85)  | -  |
| Total distributions  | (3.93)  | (1.62) C | (1.07)  | (.49)  | (3.24)  | (.01)  |
| Net asset value, end of period  | $30.54 | $31.66 | $27.70 | $23.20 | $21.19 | $33.20 |
| **Total Return** D,E | 10.04% <br>| 21.32%  | 24.66%  | 11.80%  | (29.09)%  | 29.87%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .84% H | .86%  | .89%  | .94%  | .91%  | .90%  |
| Expenses net of fee waivers, if any  | .84% H<br>| .86%  | .89%  | .93%  | .91%  | .90%  |
| Expenses net of all reductions, if any  | .84% H | .86%  | .89%  | .93%  | .91%  | .90%  |
| Net investment income (loss)  | 1.13% H | 1.20%  | 1.06%  | 1.23%  | .90%  | .55%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $651241 | $576125 | $497901 | $456881 | $457292 | $725432 |
| Portfolio turnover rate I | 49% H<br>| 46%  | 33% J | 23% J | 20%  | 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 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 Advisor® Diversified International 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  | $31.60 | $27.66 | $23.17 | $21.18 | $33.19 | $25.55 |
| Income from Investment Operations  |  |  |  |  |  |  |
| Net investment income (loss) A,B | .19  | .38  | .33  | .34  | .26  | .22  |
| Net realized and unrealized gain (loss)  | 2.63  | 5.21  | 5.27  | 2.19  | (8.98)  | 7.46  |
| Total from investment operations  | 2.82  | 5.59  | 5.60  | 2.53  | (8.72)  | 7.68  |
| Distributions from net investment income  | (.54)  | (.51)  | (.41)  | (.14)  | (.44)  | (.04)  |
| Distributions from net realized gain  | (3.44)  | (1.14)  | (.71)  | (.40)  | (2.85)  | -  |
| Total distributions  | (3.98)  | (1.65)  | (1.11) C | (.54)  | (3.29)  | (.04)  |
| Net asset value, end of period  | $30.44 | $31.60 | $27.66 | $23.17 | $21.18 | $33.19 |
| **Total Return** D,E | 10.11% <br>| 21.46%  | 24.86%  | 11.96%  | (28.99)%  | 30.10%  |
| **Ratios to Average Net Assets** B,F,G |  |  |  |  |  |  |
| Expenses before reductions  | .72% H | .72%  | .72%  | .77%  | .76%  | .76%  |
| Expenses net of fee waivers, if any  | .72% H<br>| .72%  | .72%  | .77%  | .75%  | .76%  |
| Expenses net of all reductions, if any  | .72% H | .72%  | .72%  | .77%  | .75%  | .76%  |
| Net investment income (loss)  | 1.25% H | 1.34%  | 1.23%  | 1.39%  | 1.05%  | .70%  |
| **Supplemental Data** |  |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $340489 | $350504 | $276581 | $293533 | $289878 | $392850 |
| Portfolio turnover rate I | 49% H<br>| 46%  | 33% J | 23% J | 20%  | 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 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 Advisor Diversified International Fund (the Fund) is a fund of Fidelity Advisor Series VIII (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, 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.** 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) 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** | $638365209 |
| **Gross unrealized depreciation** | <u>(16195750)</u> |
| **Net unrealized appreciation (depreciation)** | <u>$622169459</u> |
| **Tax cost** | <u>$1097423357</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 Advisor Diversified International Fund** | 401159911 | 445458396 |

---

**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** | .85 |
| **Class M** | .86 |
| **Class C** | .86 |
| **Class I** | .86 |
| **Class Z** | .70 |

---

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** | .82 |
| **Class M** | .82 |
| **Class C** | .82 |
| **Class I** | .82 |
| **Class Z** | .70 |

---

**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% | 680558 | 16488 |
| **Class M** | .25% | .25% | 369428 | 5914 |
| **Class C** | .75% | .25% | &nbsp;&nbsp;&nbsp;&nbsp; <u>84325</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>14706</u> |
|  |  |  | <u>1134311</u> | <u>37108</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** | 26818 |
| **Class M** | 2076 |
| **Class C**A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>129</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; <u>29023</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 Advisor Diversified International Fund** | 1212 |

---

**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 Advisor Diversified International Fund** | 15560581 | 19907810 | 6222736 |

---

**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 Advisor Diversified International Fund** | 1046 |

---

**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 Advisor Diversified International Fund** | 2178 | - | - |

---

**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 $134.

**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 Advisor Diversified International Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Class A | $66442007 | $27160473 |
| Class M | 17971058 | 7358806 |
| Class C | 2062268 | 865930 |
| Class I | 71235493 | 28895301 |
| Class Z | <u>43956704</u> | <u>16469345</u> |
| Total  | <u>$201667530</u> | <u>$80749855</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 Advisor Diversified International Fund** |  |  |  |  |
| **Class A** |  |  |  |  |
| Shares sold | 870665 | 1579501 | $25037626 | $44729210 |
| Reinvestment of distributions  | 2282819 | 974130 | 62092660 | 25005924 |
| Shares redeemed | <u>(1768138)</u> | <u>(2771906)</u> | <u>(51368782)</u> | <u>(75940817)</u> |
| Net increase (decrease) | <u>1385346</u> | <u>(218275)</u> | <u>$35761504</u> | <u>$(6205683)</u> |
| **Class M** |  |  |  |  |
| Shares sold | 191151 | 342801 | $5497643 | $9387071 |
| Reinvestment of distributions  | 655799 | 285480 | 17581972 | 7236921 |
| Shares redeemed | <u>(392754)</u> | <u>(817924)</u> | <u>(11236241)</u> | <u>(22220622)</u> |
| Net increase (decrease) | <u>454196</u> | <u>(189643)</u> | <u>$11843374</u> | <u>$(5596630)</u> |
| **Class C** |  |  |  |  |
| Shares sold | 107443 | 124443 | $2911068 | $3237431 |
| Reinvestment of distributions  | 79927 | 35192 | 2025359 | 849899 |
| Shares redeemed | <u>(123596)</u> | <u>(265774)</u> | <u>(3336414)</u> | <u>(6871080)</u> |
| Net increase (decrease) | <u>63774</u> | <u>(106139)</u> | <u>$1600013</u> | <u>$(2783750)</u> |
| **Class I** |  |  |  |  |
| Shares sold | 3063085 | 5318176 | $88995481 | $152124489 |
| Reinvestment of distributions  | 2213510 | 915515 | 61823347 | 24050567 |
| Shares redeemed | <u>(2149758)</u> | <u>(6010302)</u> | <u>(63696525)</u> | <u>(172699996)</u> |
| Net increase (decrease) | <u>3126837</u> | <u>223389</u> | <u>$87122303</u> | <u>$3475060</u> |
| **Class Z** |  |  |  |  |
| Shares sold | 963915 | 2860076 | $28567912 | $82020156 |
| Reinvestment of distributions  | 1375142 | 578437 | 38270215 | 15149261 |
| Shares redeemed | <u>(2245531)</u> | <u>(2348075)</u> | <u>(67664983)</u> | <u>(66321140)</u> |
| Net increase (decrease) | <u>93526</u> | <u>1090438</u> | <u>$(826856)</u> | <u>$30848277</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.

![](img131299_4.jpg)<br>

1.720067.127 ADIF-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 Advisor Series VIII'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 Advisor Series VIII'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](ex99.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](ex99.906.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 Advisor Series VIII

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
|  | &nbsp;&nbsp; Stacie M. Smith |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stacie M. Smith</u> |
|  | &nbsp;&nbsp; Stacie M. Smith |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
|  | &nbsp;&nbsp; Stephanie Caron |
|  | &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; June 22, 2026 |

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## Ex-99.Cert

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Advisor Series VIII;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

June 22, 2026

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| |
|:---|
| &nbsp;&nbsp;<u>/s/Stacie M. Smith</u> |
| &nbsp;&nbsp;Stacie M. Smith |
| &nbsp;&nbsp;President and Treasurer (Principal Executive Officer) |

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I, Stephanie Caron, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Advisor Series VIII;

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 Advisor Series VIII (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.

<br>