N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3221

Fidelity Charles Street Trust
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

October 31

 

 

Date of reporting period:

January 31, 2011

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Advisor Global
Balanced Fund:
Class A
Class T
Class B
Class C
Institutional Class

January 31, 2011

Class A, Class T, Class B, Class C
and Institutional Class are classes of
Fidelity® Global Balanced Fund 

1.883470.101

AGBL-QTLY-0311

Investments January 31, 2011 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 58.6%

Shares

Value

Australia - 2.0%

AMP Ltd.

130,356

$ 694,999

ASX Ltd.

8,792

327,336

BHP Billiton Ltd.

38,634

1,718,773

Billabong International Ltd.

40,377

326,730

Coca-Cola Amatil Ltd.

34,851

390,374

Commonwealth Bank of Australia

24,123

1,261,127

Computershare Ltd.

65,676

659,076

Crown Ltd.

73,680

629,993

CSL Ltd.

23,573

874,125

Macquarie Group Ltd.

18,494

748,635

National Australia Bank Ltd.

23,721

582,942

QBE Insurance Group Ltd.

20,623

359,657

Rio Tinto Ltd.

9,523

797,647

Suncorp-Metway Ltd.

75,999

652,851

Wesfarmers Ltd.

25,090

850,867

Woolworths Ltd.

6,225

165,634

TOTAL AUSTRALIA

11,040,766

Austria - 0.1%

Erste Bank AG

13,100

656,381

Bailiwick of Jersey - 0.4%

Experian PLC

63,500

788,212

Randgold Resources Ltd. sponsored ADR

2,300

175,927

Shire PLC

30,957

816,708

Shire PLC sponsored ADR

8,000

634,480

TOTAL BAILIWICK OF JERSEY

2,415,327

Belgium - 0.4%

Ageas

116,000

328,883

Anheuser-Busch InBev SA NV

17,515

966,322

Anheuser-Busch InBev SA NV (strip VVPR) (a)

9,280

51

Umicore SA

14,857

761,704

TOTAL BELGIUM

2,056,960

Bermuda - 0.3%

GOME Electrical Appliances Holdings Ltd. (a)

924,000

349,605

Huabao International Holdings Ltd.

247,000

365,583

Li & Fung Ltd.

120,000

778,011

TOTAL BERMUDA

1,493,199

Brazil - 0.0%

Drogasil SA

9,000

64,768

Common Stocks - continued

Shares

Value

British Virgin Islands - 0.4%

HLS Systems International Ltd. (a)

23,400

$ 375,570

Mail.ru Group Ltd. GDR unit (a)(f)

2,300

81,880

Sable Mining Africa Ltd. (a)

799,600

304,161

UTI Worldwide, Inc.

76,000

1,664,400

TOTAL BRITISH VIRGIN ISLANDS

2,426,011

Canada - 4.4%

Agnico-Eagle Mines Ltd. (Canada)

1,500

102,697

Agrium, Inc.

3,200

282,793

Alimentation Couche-Tard, Inc. Class B (sub. vtg.)

7,800

208,265

ARC Resources Ltd.

1,000

24,903

Astral Media, Inc. Class A (non-vtg.)

1,300

51,982

Bank of Montreal

5,000

288,583

Bank of Nova Scotia

12,400

699,335

Barrick Gold Corp.

10,300

488,404

Baytex Energy Corp.

4,800

236,812

BCE, Inc.

11,600

421,428

Bombardier, Inc. Class B (sub. vtg.)

98,100

558,556

Brookfield Asset Management, Inc. Class A

6,700

218,849

Brookfield Properties Corp.

6,800

119,345

Cameco Corp.

4,700

194,883

Canadian Imperial Bank of Commerce

6,100

464,736

Canadian National Railway Co.

7,800

528,960

Canadian Natural Resources Ltd.

15,200

677,934

Cenovus Energy, Inc.

9,500

328,339

CGI Group, Inc. Class A (sub. vtg.) (a)

17,200

330,908

Crescent Point Energy Corp.

3,500

154,705

Detour Gold Corp. (a)

2,600

67,863

Eldorado Gold Corp.

11,100

178,403

Enbridge, Inc.

9,700

562,563

EnCana Corp.

400

12,894

Finning International, Inc.

7,000

203,756

First Quantum Minerals Ltd.

7,900

914,209

Goldcorp, Inc.

23,000

923,354

Grande Cache Coal Corp. (a)

84,100

905,602

IAMGOLD Corp.

3,500

66,567

IESI-BFC Ltd.

3,900

92,718

Imperial Oil Ltd.

3,400

151,643

Inmet Mining Corp.

2,300

171,506

Intact Financial Corp.

4,200

211,657

Ivanhoe Mines Ltd. (a)

3,910

108,618

Keyera Corp.

29,423

1,038,960

Common Stocks - continued

Shares

Value

Canada - continued

Kodiak Oil & Gas Corp. (a)

13,000

$ 82,550

MacDonald Dettwiler & Associates Ltd. (a)

3,700

179,179

Magna International, Inc. Class A (sub. vtg.)

12,600

735,912

Manulife Financial Corp.

22,000

383,478

Metro, Inc. Class A (sub. vtg.)

3,000

129,607

National Bank of Canada

2,300

160,387

Niko Resources Ltd.

2,900

282,439

Open Text Corp. (a)

2,000

98,771

Osisko Mining Corp. (a)

2,500

33,238

Pacific Rubiales Energy Corp.

3,500

120,827

Petrobank Energy & Resources Ltd. (a)

7,700

180,751

Petrominerales Ltd.

4,105

160,083

Potash Corp. of Saskatchewan, Inc.

4,400

779,702

Quebecor, Inc. Class B (sub. vtg.)

2,200

77,992

Research In Motion Ltd. (a)

5,000

295,550

Rogers Communications, Inc. Class B (non-vtg.)

4,050

141,473

Royal Bank of Canada

15,000

804,315

SNC-Lavalin Group, Inc.

2,000

117,211

Sun Life Financial, Inc.

5,900

185,705

Suncor Energy, Inc.

21,372

885,110

SXC Health Solutions Corp. (a)

8,600

414,065

Talisman Energy, Inc.

41,600

953,255

Teck Resources Ltd. Class B (sub. vtg.)

9,800

593,717

TELUS Corp.

4,200

208,301

The Toronto-Dominion Bank

14,600

1,093,213

Thomson Reuters Corp.

5,000

199,780

Ultra Petroleum Corp. (a)

9,000

429,570

Uranium One, Inc.

140,200

917,301

Valeant Pharmaceuticals International, Inc.

46,160

1,682,528

Vitran Corp., Inc. (a)

11,000

149,490

Yamana Gold, Inc.

6,000

67,546

TOTAL CANADA

24,535,776

Cayman Islands - 0.4%

China Rongsheng Heavy Industry Group Co. Ltd.

62,500

56,914

China ZhengTong Auto Services Holdings Ltd.

206,500

171,359

E-Commerce China Dangdang, Inc. ADR

3,900

110,370

Fabrinet (a)

4,000

95,800

Geely Automobile Holdings Ltd.

755,000

354,415

Hengdeli Holdings Ltd.

936,000

527,016

Herbalife Ltd.

4,000

261,320

Common Stocks - continued

Shares

Value

Cayman Islands - continued

Tencent Holdings Ltd.

33,300

$ 862,739

YouKu.com, Inc. ADR (a)(e)

1,600

47,408

TOTAL CAYMAN ISLANDS

2,487,341

China - 0.2%

Baidu.com, Inc. sponsored ADR (a)

3,800

412,794

BYD Co. Ltd. (H Shares)

32,000

156,372

Changyou.com Ltd. (A Shares) ADR (a)

12,800

439,936

TOTAL CHINA

1,009,102

Denmark - 0.9%

Carlsberg AS Series B

6,900

687,440

FLSmidth & Co. A/S

4,900

420,962

Novo Nordisk AS Series B

32,275

3,633,371

Pandora A/S

5,900

376,524

TOTAL DENMARK

5,118,297

Falkland Islands - 0.0%

Falkland Oil & Gas Ltd. (a)

58,500

88,075

Finland - 0.3%

Nokia Corp.

76,700

818,034

Nokian Tyres PLC

15,500

559,770

TOTAL FINLAND

1,377,804

France - 2.2%

Alstom SA

15,602

870,705

Atos Origin SA (a)

11,836

658,915

AXA SA

53,000

1,121,731

BNP Paribas SA

23,036

1,721,881

Club Mediterranee SA (a)

12,200

279,839

Iliad Group SA

6,853

727,555

L'Oreal SA

8,600

998,384

LVMH Moet Hennessy - Louis Vuitton

7,759

1,211,447

Natixis SA (a)

139,400

739,881

PPR SA

7,300

1,166,764

Remy Cointreau SA

5,491

389,465

Safran SA

16,200

585,494

Schneider Electric SA

6,236

972,374

Societe Generale Series A

8,001

517,328

TOTAL FRANCE

11,961,763

Germany - 1.2%

Bayerische Motoren Werke AG (BMW)

19,408

1,490,020

Common Stocks - continued

Shares

Value

Germany - continued

Fresenius Medical Care AG & Co. KGaA

8,500

$ 497,286

HeidelbergCement AG

10,900

712,232

Linde AG

3,964

577,674

MAN SE

6,079

702,722

Rheinmetall AG

7,000

599,321

Siemens AG

14,489

1,857,192

TOTAL GERMANY

6,436,447

Hong Kong - 0.4%

BOC Hong Kong (Holdings) Ltd.

122,500

395,146

Cheung Kong Holdings Ltd.

16,000

263,903

Hong Kong Exchanges and Clearing Ltd.

36,600

839,329

Hutchison Whampoa Ltd.

26,000

303,124

SJM Holdings Ltd.

214,000

358,460

TOTAL HONG KONG

2,159,962

Ireland - 0.1%

James Hardie Industries NV unit (a)

52,561

326,849

Ryanair Holdings PLC sponsored ADR

12,900

394,224

TOTAL IRELAND

721,073

Isle of Man - 0.1%

Genting International PLC (a)

309,000

487,946

Italy - 0.4%

Fiat Industrial SpA (a)

54,000

730,759

Fiat SpA

37,100

360,100

Intesa Sanpaolo SpA

150,868

501,888

Saipem SpA

14,753

737,993

TOTAL ITALY

2,330,740

Japan - 6.8%

All Nippon Airways Ltd. (a)

97,000

355,714

Asahi Glass Co. Ltd.

29,000

361,440

Asahi Kasei Corp.

76,000

518,519

Canon, Inc.

14,600

718,666

Chuo Mitsui Trust Holdings, Inc.

151,000

607,091

Cosmos Pharmaceutical Corp.

4,000

160,819

CyberAgent, Inc.

398

1,122,527

Daiwa House Industry Co. Ltd.

102,000

1,243,933

Denso Corp.

18,700

688,036

Exedy Corp.

13,300

446,736

Fuji Machine Manufacturing Co. Ltd.

6,500

138,584

Common Stocks - continued

Shares

Value

Japan - continued

Fuji Oil Co. Ltd.

5,400

$ 78,224

Fujifilm Holdings Corp.

33,300

1,202,906

Fujitsu Ltd.

174,000

1,083,260

GREE, Inc.

24,500

393,110

Hitachi High-Technologies Corp.

11,100

274,254

Hitachi Metals Ltd.

10,000

117,568

Hitachi Transport System Ltd.

20,400

311,418

Honda Motor Co. Ltd.

52,400

2,258,555

Ibiden Co. Ltd.

10,700

361,620

JTEKT Corp.

27,900

349,090

JX Holdings, Inc.

113,980

770,698

Kao Corp.

9,200

240,424

Kenedix Realty Investment Corp.

6

27,668

Kenedix, Inc. (a)

697

176,033

Kuraray Co. Ltd.

88,400

1,240,702

Lawson, Inc.

4,400

219,518

Makita Corp.

6,400

277,193

Marubeni Corp.

25,000

187,926

Marui Group Co. Ltd.

14,500

122,600

Mitsubishi Corp.

42,100

1,172,009

Mitsubishi Electric Corp.

7,000

77,181

Mitsubishi UFJ Financial Group, Inc.

269,900

1,401,838

Mitsubishi UFJ Lease & Finance Co. Ltd.

4,750

192,419

Mitsui & Co. Ltd.

83,200

1,398,830

Mizuho Financial Group, Inc.

469,000

905,430

MORI TRUST Sogo (REIT), Inc.

21

218,750

MS&AD Insurance Group Holdings, Inc.

43,200

1,027,368

Murata Manufacturing Co. Ltd.

1,000

75,780

NHK Spring Co. Ltd.

80,000

904,483

Nichi-iko Pharmaceutical Co. Ltd.

8,400

236,915

Nippon Television Network Corp.

910

144,128

NOK Corp.

55,400

1,115,020

NTT DoCoMo, Inc.

412

736,758

NTT Urban Development Co.

96

98,947

Obayashi Corp.

15,000

71,637

Oracle Corp. Japan

3,700

169,268

Oriental Land Co. Ltd.

3,000

276,316

ORIX Corp.

11,020

1,087,500

Osaka Securities Exchange Co. Ltd.

12

61,330

Pioneer Corp. (a)

38,200

164,751

Rakuten, Inc.

956

840,926

Santen Pharmaceutical Co. Ltd.

10,600

380,453

Common Stocks - continued

Shares

Value

Japan - continued

SBI Holdings, Inc.

4,873

$ 650,090

Sega Sammy Holdings, Inc.

13,800

276,404

Shin-Etsu Chemical Co., Ltd.

2,800

157,602

SMC Corp.

3,600

609,211

SOFTBANK CORP.

21,300

732,577

Sony Corp.

34,800

1,197,520

Sumitomo Electric Industries Ltd.

19,700

286,092

Sumitomo Heavy Industries Ltd.

240,000

1,529,240

Sumitomo Metal Mining Co. Ltd.

25,000

409,661

Tokai Carbon Co. Ltd.

145,000

849,720

Tokyo Electron Ltd.

5,700

371,528

Toshiba Corp.

115,000

679,520

Tosoh Corp.

100,000

324,074

Toyo Engineering Corp.

29,000

109,527

Toyota Motor Corp.

17,100

704,000

Universal Entertainment Corp. (a)

2,800

79,825

TOTAL JAPAN

37,779,460

Korea (South) - 0.0%

Kia Motors Corp.

2,000

97,690

Luxembourg - 0.1%

ArcelorMittal SA (Netherlands)

21,100

769,605

Netherlands - 0.4%

AEGON NV (a)

98,900

731,895

ASML Holding NV (Netherlands)

12,500

524,035

ING Groep NV (Certificaten Van Aandelen) unit (a)

54,900

625,099

Nielsen Holdings B.V. (a)

7,400

192,918

TOTAL NETHERLANDS

2,073,947

Netherlands Antilles - 0.5%

Schlumberger Ltd.

28,000

2,491,720

Norway - 0.5%

Aker Solutions ASA

21,400

389,138

DnB NOR ASA

44,800

616,407

Storebrand ASA (A Shares) (a)

96,500

758,906

Telenor ASA

24,200

373,178

Yara International ASA

10,300

579,531

TOTAL NORWAY

2,717,160

Papua New Guinea - 0.1%

Oil Search Ltd.

76,974

510,878

Common Stocks - continued

Shares

Value

Poland - 0.1%

Eurocash SA

42,000

$ 464,424

Qatar - 0.1%

Commercial Bank of Qatar GDR (Reg. S)

72,240

333,269

Russia - 0.7%

Magnit OJSC GDR (Reg. S)

21,800

570,506

Magnitogorsk Iron & Steel Works OJSC unit

27,700

404,420

Mechel Steel Group OAO sponsored ADR

16,000

504,480

OAO Gazprom sponsored ADR

35,200

941,952

OJSC MMC Norilsk Nickel sponsored ADR

15,200

392,160

Sberbank (Savings Bank of the Russian Federation) GDR

1,300

492,977

Uralkali JSC GDR (Reg. S)

16,700

633,765

TOTAL RUSSIA

3,940,260

Singapore - 0.5%

Avago Technologies Ltd.

65,100

1,869,021

Keppel Corp. Ltd.

63,000

576,220

Sabana Shariah Compliant Industrial REIT

111,000

84,604

Singapore Exchange Ltd.

70,000

462,946

TOTAL SINGAPORE

2,992,791

South Africa - 0.1%

Barloworld Ltd.

24,200

233,323

Blue Label Telecoms Ltd.

75,000

65,718

Clicks Group Ltd.

80,151

442,013

TOTAL SOUTH AFRICA

741,054

Spain - 1.3%

Banco Santander SA

192,949

2,362,238

Banco Santander SA rights 1/31/11 (a)

171,804

32,458

Gestevision Telecinco SA

175,223

2,202,101

Inditex SA

11,146

842,137

Telefonica SA

67,903

1,699,798

TOTAL SPAIN

7,138,732

Sweden - 0.6%

Elekta AB (B Shares)

12,500

505,332

H&M Hennes & Mauritz AB (B Shares)

27,403

898,821

Sandvik AB

42,800

839,918

Swedbank AB (A Shares) (a)

57,746

905,862

TOTAL SWEDEN

3,149,933

Common Stocks - continued

Shares

Value

Switzerland - 1.7%

Clariant AG (Reg.) (a)

24,650

$ 435,223

Compagnie Financiere Richemont SA Series A

19,115

1,039,618

Julius Baer Group Ltd.

9,090

411,296

Petroplus Holdings AG

7,000

114,696

Schindler Holding AG (participation certificate)

6,091

679,968

The Swatch Group AG (Bearer)

2,280

914,270

Transocean Ltd. (a)

7,600

607,468

UBS AG (a)

73,536

1,316,405

Weatherford International Ltd. (a)

107,100

2,540,412

Zurich Financial Services AG

5,393

1,473,129

TOTAL SWITZERLAND

9,532,485

Turkey - 0.1%

Boyner Buyuk Magazacilik AS (a)

99,000

230,763

Turkiye Garanti Bankasi AS

111,000

493,948

TOTAL TURKEY

724,711

United Kingdom - 4.6%

ARM Holdings PLC sponsored ADR

9,000

225,360

Aviva PLC

88,300

627,891

BG Group PLC

67,796

1,521,282

BHP Billiton PLC

27,074

1,033,660

BP PLC

170,200

1,337,238

BP PLC sponsored ADR

34,200

1,623,474

Burberry Group PLC

38,000

653,665

Carphone Warehouse Group PLC (a)

153,350

989,820

Fresnillo PLC

21,400

444,208

HSBC Holdings PLC sponsored ADR

44,996

2,458,581

International Personal Finance PLC

71,800

393,295

ITV PLC (a)

540,300

672,394

Kazakhmys PLC

21,200

511,362

Kesa Electricals PLC

55,300

114,168

Lloyds Banking Group PLC (a)

911,800

922,005

Micro Focus International PLC

73,900

485,521

Misys PLC

124,000

673,865

Morgan Crucible Co. PLC

136,100

592,482

Next PLC

9,100

288,148

Reckitt Benckiser Group PLC

20,400

1,109,271

Royal Dutch Shell PLC Class A (United Kingdom)

85,637

3,015,474

Sage Group PLC

83,300

393,715

Schroders PLC

20,600

594,882

SuperGroup PLC

17,900

438,644

Common Stocks - continued

Shares

Value

United Kingdom - continued

TalkTalk Telecom Group PLC

159,800

$ 412,837

Vodafone Group PLC

828,600

2,325,258

Wolfson Microelectronics PLC (a)

101,000

488,535

Xstrata PLC

49,800

1,104,706

TOTAL UNITED KINGDOM

25,451,741

United States of America - 26.2%

AboveNet, Inc.

14,800

881,488

Acme Packet, Inc. (a)

1,000

53,780

Affiliated Managers Group, Inc. (a)

11,000

1,120,130

Akamai Technologies, Inc. (a)

3,000

144,960

Alexion Pharmaceuticals, Inc. (a)

15,600

1,307,592

Allegheny Technologies, Inc.

5,000

325,950

Allergan, Inc.

5,600

395,416

Amazon.com, Inc. (a)

9,600

1,628,544

American Capital Ltd. (a)

37,000

302,290

Ameriprise Financial, Inc.

25,000

1,541,250

Anadarko Petroleum Corp.

14,500

1,117,660

Apple, Inc. (a)

19,500

6,616,740

Ardea Biosciences, Inc. (a)

20,200

535,704

Ariba, Inc. (a)

17,000

477,530

athenahealth, Inc. (a)

3,000

128,820

Atlas Energy, Inc. (a)

1,000

44,300

Atmel Corp. (a)

45,000

609,300

Baker Hughes, Inc.

17,000

1,164,670

Bank of America Corp.

231,200

3,174,376

BankUnited, Inc. (a)

3,200

89,600

BGC Partners, Inc. Class A

13,000

105,300

BioMarin Pharmaceutical, Inc. (a)

11,674

296,753

Bottomline Technologies, Inc. (a)

3,000

68,790

Brigham Exploration Co. (a)

2,000

59,220

Cabot Oil & Gas Corp.

10,000

416,300

Carlisle Companies, Inc.

2,000

75,420

Carrizo Oil & Gas, Inc. (a)

2,000

67,700

Caterpillar, Inc.

10,000

970,100

Celanese Corp. Class A

17,000

705,330

Ceva, Inc. (a)

26,000

628,420

Chesapeake Energy Corp.

13,000

383,890

Ciena Corp. (a)

6,600

145,398

Citi Trends, Inc. (a)

17,000

389,300

Citigroup, Inc. (a)

87,700

422,714

CLARCOR, Inc.

2,000

86,360

Common Stocks - continued

Shares

Value

United States of America - continued

Clearwire Corp. Class A (a)

42,000

$ 222,180

Cognizant Technology Solutions Corp. Class A (a)

11,100

809,745

Comstock Resources, Inc. (a)

27,000

747,900

Concho Resources, Inc. (a)

1,000

96,250

Concur Technologies, Inc. (a)

5,000

255,150

Continental Resources, Inc. (a)

1,000

64,210

Convio, Inc. (a)

6,000

54,540

Corvel Corp. (a)

1,000

50,480

CSX Corp.

17,000

1,200,200

Cummins, Inc.

14,000

1,482,320

Cypress Semiconductor Corp. (a)

12,000

259,800

DealerTrack Holdings, Inc. (a)

9,000

177,885

Demand Media, Inc. (a)

5,700

115,596

DemandTec, Inc. (a)

2,000

24,100

Dover Corp.

6,000

384,600

DSW, Inc. Class A (a)

5,000

166,450

Dynavax Technologies Corp. (a)

33,000

99,000

Eaton Corp.

2,000

215,920

eBay, Inc. (a)

110,000

3,339,600

ebix.com, Inc. (a)

5,000

112,750

Edwards Lifesciences Corp. (a)

34,000

2,865,860

Elizabeth Arden, Inc. (a)

11,000

281,490

EMC Corp. (a)

38,000

945,820

Emerson Electric Co.

10,000

588,800

Estee Lauder Companies, Inc. Class A

41,000

3,300,500

Expeditors International of Washington, Inc.

5,000

253,350

Exxon Mobil Corp.

93,300

7,527,444

Fossil, Inc. (a)

39,000

2,770,950

Freeport-McMoRan Copper & Gold, Inc.

17,000

1,848,750

Fresh Market, Inc.

500

18,385

G-III Apparel Group Ltd. (a)

55,700

1,943,373

General Electric Co.

245,000

4,934,300

General Motors Co.

20,600

751,694

Georesources, Inc. (a)

2,000

55,280

Google, Inc. Class A (a)

4,400

2,641,584

GrafTech International Ltd. (a)

2,000

42,000

Green Dot Corp. (e)

9,000

566,190

Greenbrier Companies, Inc. (a)

39,000

923,130

GT Solar International, Inc. (a)

17,000

187,765

Harley-Davidson, Inc.

7,000

277,550

HeartWare International, Inc. (a)

1,400

130,214

Hess Corp.

19,000

1,598,280

Common Stocks - continued

Shares

Value

United States of America - continued

Higher One Holdings, Inc. (a)

3,000

$ 57,060

HMS Holdings Corp. (a)

5,000

321,700

Holly Corp.

29,000

1,423,030

Home Depot, Inc.

20,000

735,400

IDEXX Laboratories, Inc. (a)

1,000

71,700

Illumina, Inc. (a)

13,100

908,354

ImmunoGen, Inc. (a)

19,000

156,940

Informatica Corp. (a)

54,000

2,505,600

Intuit, Inc. (a)

19,000

891,670

iRobot Corp. (a)

57,000

1,539,000

JDS Uniphase Corp. (a)

36,900

626,193

Johnson & Johnson

13,000

777,010

JPMorgan Chase & Co.

79,000

3,550,260

Juniper Networks, Inc. (a)

17,000

631,040

Kansas City Southern (a)

3,000

149,940

Kenexa Corp. (a)

2,000

41,480

Key Energy Services, Inc. (a)

51,000

678,810

KKR Financial Holdings LLC

64,800

625,968

Las Vegas Sands Corp. (a)

15,000

697,350

Leucadia National Corp.

9,700

315,444

Lincoln National Corp.

97,000

2,797,480

Mako Surgical Corp. (a)

47,400

735,648

Marathon Oil Corp.

42,500

1,942,250

McKesson Corp.

12,000

902,040

Meru Networks, Inc. (a)

7,000

125,930

Micromet, Inc. (a)

25,000

160,750

MKS Instruments, Inc. (a)

14,000

401,940

Morgan Stanley

57,200

1,681,680

Motorola Mobility Holdings, Inc.

500

13,935

NetSuite, Inc. (a)(e)

5,000

134,650

Neurocrine Biosciences, Inc. (a)

12,700

93,726

Noble Energy, Inc.

3,900

355,290

Nu Skin Enterprises, Inc. Class A

6,000

180,480

NVIDIA Corp. (a)

7,000

167,440

NVR, Inc. (a)

900

688,500

Oasis Petroleum, Inc. (a)

2,000

63,940

Oil States International, Inc. (a)

7,400

501,424

OpenTable, Inc. (a)

3,000

235,860

Oracle Corp.

91,000

2,914,730

PACCAR, Inc.

5,000

282,450

Pall Corp.

8,000

443,280

Paychex, Inc.

14,000

448,000

Common Stocks - continued

Shares

Value

United States of America - continued

Perrigo Co.

40,000

$ 2,909,600

Petrohawk Energy Corp. (a)

52,000

1,042,600

Phillips-Van Heusen Corp.

48,400

2,825,108

Pioneer Natural Resources Co.

5,000

475,800

Polypore International, Inc. (a)

14,100

678,915

PPG Industries, Inc.

1,000

84,280

Prestige Brands Holdings, Inc. (a)

73,000

805,920

Procter & Gamble Co.

13,000

820,690

Public Storage

1,000

108,980

QEP Resources, Inc.

6,000

243,840

QUALCOMM, Inc.

39,000

2,111,070

Range Resources Corp.

11,000

548,570

Raymond James Financial, Inc.

3,000

108,660

RealPage, Inc.

23,000

629,970

Red Hat, Inc. (a)

13,000

537,160

Regeneron Pharmaceuticals, Inc. (a)

16,000

538,880

Resolute Energy Corp. (a)

8,400

152,040

Rex Energy Corp. (a)

5,000

60,175

RightNow Technologies, Inc. (a)

2,000

51,860

Riverbed Technology, Inc. (a)

7,000

251,090

Roper Industries, Inc.

1,000

77,690

salesforce.com, Inc. (a)

8,000

1,033,120

Satcon Technology Corp. (a)

17,000

82,450

SeaChange International, Inc. (a)

8,000

66,240

Shaw Group, Inc. (a)

21,000

793,170

Sirius XM Radio, Inc. (a)

106,000

171,190

Skyworks Solutions, Inc. (a)

126,000

4,003,020

Solera Holdings, Inc.

3,700

193,621

Southwestern Energy Co. (a)

23,000

908,500

SPS Commerce, Inc. (a)

2,000

31,750

Starbucks Corp.

10,000

315,300

SuccessFactors, Inc. (a)

7,000

203,840

Susquehanna Bancshares, Inc., Pennsylvania

24,000

229,440

SVB Financial Group (a)

44,900

2,355,903

Targacept, Inc. (a)

17,210

443,330

Team Health Holdings, Inc. (a)

3,000

46,380

Teradyne, Inc. (a)

41,000

683,880

Tesla Motors, Inc. (a)

5,000

120,500

Tesoro Corp. (a)

39,000

750,750

Theravance, Inc. (a)

41,000

862,640

TIBCO Software, Inc. (a)

3,000

65,940

Tiffany & Co., Inc.

3,800

220,894

Common Stocks - continued

Shares

Value

United States of America - continued

TJX Companies, Inc.

21,000

$ 995,190

TriQuint Semiconductor, Inc. (a)

82,200

1,081,752

TRW Automotive Holdings Corp. (a)

8,100

483,246

Ulta Salon, Cosmetics & Fragrance, Inc. (a)

10,000

370,400

Ultimate Software Group, Inc. (a)

1,000

48,600

Union Pacific Corp.

23,100

2,185,953

United Rentals, Inc. (a)

5,000

133,250

United States Steel Corp.

10,100

582,467

United Therapeutics Corp. (a)

5,000

339,900

Universal Display Corp. (a)

3,000

101,520

Vera Bradley, Inc.

600

20,637

Vertex Pharmaceuticals, Inc. (a)

1,000

38,890

Virgin Media, Inc.

31,700

797,572

WABCO Holdings, Inc. (a)

6,000

350,400

Wal-Mart Stores, Inc.

45,000

2,523,150

Walter Energy, Inc.

4,000

521,080

WebMD Health Corp. (a)

22,220

1,161,662

WESCO International, Inc. (a)

2,000

112,100

Western Refining, Inc. (a)

20,000

243,600

Whiting Petroleum Corp. (a)

8,000

1,010,240

ZIOPHARM Oncology, Inc. (a)

77,000

449,295

Zix Corp. (a)(e)

149,000

670,500

TOTAL UNITED STATES OF AMERICA

145,654,012

TOTAL COMMON STOCKS

(Cost $267,441,388)

325,431,610

Nonconvertible Preferred Stocks - 0.5%

 

 

 

 

Germany - 0.5%

ProSiebenSat.1 Media AG

20,600

632,698

Volkswagen AG

12,300

1,986,967

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $1,676,002)

2,619,665

Corporate Bonds - 11.8%

 

Principal Amount

 

Convertible Bonds - 0.1%

United States of America - 0.1%

Volcano Corp. 2.875% 9/1/15

$ 250,000

283,750

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - 11.7%

Australia - 0.4%

Fairfax Media Group Finance Pty Ltd. 6.25% 6/15/12

EUR

250,000

$ 344,180

Optus Finance Pty Ltd. 3.5% 9/15/20

EUR

200,000

257,694

Rio Tinto Finance (USA) Ltd. 9% 5/1/19

250,000

331,426

Westpac Banking Corp.:

4.25% 9/22/16

EUR

250,000

349,657

4.875% 11/19/19

600,000

622,067

WT Finance (Aust) Pty Ltd./Westfield Europe Finance PLC/WEA Finance 3.625% 6/27/12

EUR

400,000

556,258

TOTAL AUSTRALIA

2,461,282

Bailiwick of Jersey - 0.1%

BAA Funding Ltd. 4.125% 10/12/18

EUR

250,000

334,716

Belgium - 0.2%

Anheuser-Busch InBev SA NV 4% 4/26/18

EUR

250,000

345,055

Belgacom SA 3.875% 2/7/18

EUR

300,000

409,833

Fortis Banque SA 4.625% (Reg. S) (h)

EUR

450,000

517,482

TOTAL BELGIUM

1,272,370

Bermuda - 0.1%

Li & Fung Ltd. 5.25% 5/13/20

700,000

711,087

Brazil - 0.1%

Telemar Norte Leste SA 5.5% 10/23/20 (Reg. S)

500,000

487,500

British Virgin Islands - 0.2%

CNOOC Finance 2011 Ltd. 4.25% 1/26/21

400,000

393,289

PCCW-HKT Capital No. 4 Ltd. 4.25% 2/24/16

500,000

502,325

TOTAL BRITISH VIRGIN ISLANDS

895,614

Canada - 0.0%

Xstrata Finance Canada Ltd. 5.25% 6/13/17

EUR

150,000

213,798

Cayman Islands - 0.4%

Banco Do Brasil SA 4.5% 1/20/16

EUR

200,000

272,431

Bishopgate Asset Finance Ltd. 4.808% 8/14/44

GBP

200,000

250,818

Hutchison Whampoa International 09 Ltd. 7.625% 4/9/19 (Reg. S)

400,000

481,400

MUFG Capital Finance 5 Ltd. 6.299% (h)

GBP

300,000

446,860

SMFG Preferred Capital GBP 2 Ltd. 10.231% 12/31/49 (h)

GBP

150,000

279,888

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Cayman Islands - continued

Thames Water Utilities Cayman Finance Ltd. 6.125% 2/4/13

EUR

150,000

$ 218,926

Yorkshire Water Services Finance Ltd. 6.375% 8/19/39

GBP

100,000

179,730

TOTAL CAYMAN ISLANDS

2,130,053

Cyprus - 0.1%

Alfa MTN Issuance Ltd. 8% 3/18/15

300,000

315,477

Denmark - 0.1%

Carlsberg Breweries A/S 3.375% 10/13/17

EUR

300,000

391,732

France - 1.1%

Arkema SA 4% 10/25/17

EUR

250,000

334,321

AXA SA 5.25% 4/16/40 (h)

EUR

500,000

631,006

BNP Paribas SA 5.019% (h)

EUR

150,000

178,655

Caisse Nationale des Caisses d' Epargne et de Prevoyance 6.117% (h)

EUR

50,000

56,445

Compagnie de St. Gobain 1.247% 4/11/12 (h)

EUR

175,000

238,039

Credit Agricole SA 7.875% (h)

EUR

200,000

274,485

Credit Commercial de France 4.875% 1/15/14

EUR

250,000

360,327

Credit Logement SA:

1.626% (h)

EUR

150,000

166,334

4.604% (h)

EUR

250,000

280,645

EDF SA:

4.625% 9/11/24

EUR

150,000

206,015

6.95% 1/26/39 (f)

250,000

293,473

Lafarge SA 8.75% 5/30/17

GBP

250,000

460,828

Natixis SA 1.279% 1/26/17 (h)

EUR

100,000

128,359

Safran SA 4% 11/26/14

EUR

550,000

754,350

Societe Generale:

1.202% 6/7/17 (h)

EUR

100,000

129,409

7.756% (h)

EUR

350,000

477,952

Societe Generale SCF 4% 7/7/16

EUR

450,000

636,807

Veolia Environnement 6.125% 11/25/33

EUR

250,000

370,140

TOTAL FRANCE

5,977,590

Germany - 0.2%

Bayerische Landesbank Girozentrale 4.5% 2/7/19 (h)

EUR

250,000

284,694

Commerzbank AG:

4.125% 9/13/16 (h)

EUR

300,000

351,080

5.625% 11/29/17 (h)

EUR

100,000

126,212

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Germany - continued

Eurogrid GmbH 3.875% 10/22/20

EUR

100,000

$ 130,515

Landesbank Berlin AG 5.875% 11/25/19

EUR

250,000

337,218

TOTAL GERMANY

1,229,719

India - 0.0%

Export-Import Bank of India 0.6825% 6/7/12 (h)

JPY

20,000,000

238,855

Ireland - 0.1%

Ardagh Glass Group PLC 10.75% 3/1/15 pay-in-kind

EUR

287,205

393,031

Italy - 0.1%

Intesa Sanpaolo SpA:

3.75% 11/23/16

EUR

350,000

454,435

6.375% 11/12/17 (h)

GBP

150,000

226,066

TOTAL ITALY

680,501

Japan - 0.1%

ORIX Corp. 5% 1/12/16

450,000

454,989

Sumitomo Mitsui Banking Corp. 4% 11/9/20 (Reg. S)

EUR

200,000

253,514

TOTAL JAPAN

708,503

Korea (South) - 0.6%

Export-Import Bank of Korea 5.875% 1/14/15

500,000

544,280

Kookmin Bank 5.875% 6/11/12

200,000

210,127

Korea Electric Power Corp. 5.5% 7/21/14 (Reg. S)

190,000

206,446

Korea National Housing Corp. 4.875% 9/10/14

800,000

846,943

Korea Resources Corp. 4.125% 5/19/15

610,000

624,414

National Agricultural Cooperative Federation:

4.25% 1/28/16 (Reg. S)

450,000

450,387

5% 9/30/14 (Reg. S)

200,000

209,828

Shinhan Bank 6% 6/29/12 (Reg. S)

300,000

315,670

TOTAL KOREA (SOUTH)

3,408,095

Luxembourg - 0.8%

Alrosa Finance SA 7.75% 11/3/20 (Reg. S)

600,000

634,500

Gaz Capital SA (Luxembourg):

5.364% 10/31/14

EUR

150,000

214,377

6.51% 3/7/22 (Reg. S)

450,000

461,250

6.58% 10/31/13

GBP

100,000

170,179

Glencore Finance (Europe) SA:

5.25% 3/22/17

EUR

250,000

345,245

7.125% 4/23/15

EUR

150,000

226,312

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Luxembourg - continued

OAO Industry & Construction Bank 5.01% 9/29/15 (Issued by Or-ICB SA for OAO Industry & Construction Bank) (h)

$ 800,000

$ 775,000

Olivetti Finance NV 7.75% 1/24/33

EUR

300,000

435,551

SB Capital SA 5.4% 3/24/17 (Reg. S)

400,000

399,000

Steel Capital SA 6.7% 10/25/17 (Reg. S)

300,000

296,250

TMK Capital SA 7.75% 1/27/18

300,000

298,650

TOTAL LUXEMBOURG

4,256,314

Mexico - 0.1%

America Movil SAB de CV 5% 3/30/20

400,000

414,670

Multi-National - 0.3%

European Community 2.5% 12/4/15

EUR

1,250,000

1,693,357

Netherlands - 0.6%

AI Finance BV 10.875% 7/15/12

100,000

81,000

BOATS Investments (Netherlands) BV 11% 3/31/17 pay-in-kind

EUR

379,863

455,143

EDP Finance BV 5.875% 2/1/16

EUR

200,000

271,893

GT 2005 Bonds BV 5% 7/21/14 (h)

250,000

236,073

ING Bank NV 4.75% 5/27/19

EUR

200,000

290,161

Koninklijke KPN NV 5.625% 9/30/24

EUR

300,000

431,592

OI European Group BV 6.875% 3/31/17 (Reg. S)

EUR

200,000

286,584

Rabobank Nederland 5.875% 5/20/19

EUR

350,000

512,235

Sabic Capital I BV 3% 11/2/15

550,000

548,779

TOTAL NETHERLANDS

3,113,460

Norway - 0.4%

DnB NOR Bank ASA 4.5% 5/29/14

EUR

200,000

287,207

Kommunalbanken AS 5.125% 5/30/12

1,900,000

2,010,257

TOTAL NORWAY

2,297,464

Russia - 0.1%

Raspadskaya Securities Ltd. 7.5% 5/22/12

300,000

310,653

RSHB Capital SA 7.5% 3/25/13

RUB

11,000,000

369,165

TOTAL RUSSIA

679,818

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Spain - 0.1%

Santander Finance Preferred SA Unipersonal 7.3% 7/29/19 (h)

GBP

100,000

$ 153,119

Telefonica Emisiones SAU 4.75% 2/7/17 (g)

EUR

100,000

136,878

TOTAL SPAIN

289,997

Sweden - 0.2%

Nordea Bank AB 0.5022% 6/9/16 (h)

400,000

396,533

Svenska Handelsbanken AB 0.4516% 3/15/16 (h)

200,000

197,492

Swedbank AB 0.4644% 5/18/17 (h)

500,000

484,180

TOTAL SWEDEN

1,078,205

Switzerland - 0.1%

Credit Suisse New York Branch 5.4% 1/14/20

500,000

505,758

United Arab Emirates - 0.1%

Abu Dhabi National Energy Co. PJSC:

5.875% 10/27/16 (Reg. S)

300,000

319,125

6.5% 10/27/36

300,000

292,749

Emirates Bank International PJSC 4.8044% 4/30/12 (h)

229,000

231,863

TOTAL UNITED ARAB EMIRATES

843,737

United Kingdom - 2.4%

3i Group PLC:

1.228% 6/8/12 (h)

EUR

400,000

529,677

5.625% 3/17/17

EUR

150,000

205,396

Anglo American Capital PLC 6.875% 5/1/18

GBP

300,000

536,160

Bank of Scotland 6.375% 8/16/19

GBP

400,000

579,419

Barclays Bank PLC:

0.4778% 3/23/17 (h)

550,000

510,807

4.875% (h)

EUR

350,000

391,705

6.75% 1/16/23 (h)

GBP

300,000

486,030

14% (h)

GBP

100,000

195,939

BAT International Finance PLC:

7.25% 3/12/24

GBP

100,000

186,852

8.125% 11/15/13

200,000

231,940

BP Capital Markets PLC 3.875% 3/10/15

650,000

680,879

Broadgate PLC 1.5575% 10/5/25 (h)

GBP

25,250

33,971

Daily Mail & General Trust PLC 5.75% 12/7/18

GBP

300,000

456,023

EDF Energy Networks EPN PLC 6% 11/12/36

GBP

160,000

266,779

Experian Finance PLC 4.75% 11/23/18

GBP

300,000

482,681

First Hydro Finance PLC 9% 7/31/21

GBP

320,000

614,511

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

Imperial Tobacco Finance:

7.25% 9/15/14

EUR

150,000

$ 231,593

7.75% 6/24/19

GBP

500,000

941,025

Legal & General Group PLC 4% 6/8/25 (h)

EUR

150,000

185,696

Lloyds TSB Bank PLC 4.875% 1/21/16

550,000

550,470

Marks & Spencer PLC:

6.125% 12/2/19

GBP

100,000

164,179

7.125% 12/1/37 (f)

200,000

192,808

Motability Operations Group PLC 3.75% 11/29/17

EUR

300,000

403,536

National Express Group PLC 6.25% 1/13/17

GBP

150,000

251,514

Nationwide Building Society 1.242% 12/22/16 (h)

EUR

150,000

185,665

Old Mutual PLC:

4.5% 1/18/17 (h)

EUR

450,000

591,254

7.125% 10/19/16

GBP

200,000

344,622

Royal Bank of Scotland PLC:

0.5031% 4/11/16 (h)

250,000

202,008

5.75% 5/21/14

EUR

500,000

706,437

6.934% 4/9/18

EUR

300,000

387,298

Severn Trent Utilities Finance PLC 6.25% 6/7/29

GBP

300,000

528,103

Standard Chartered Bank 5.875% 9/26/17 (Reg. S)

EUR

250,000

359,032

Tesco PLC 5.875% 9/12/16

EUR

100,000

153,544

UBS AG London Branch 6.25% 9/3/13

EUR

100,000

147,470

Virgin Media Secured Finance PLC 7% 1/15/18

GBP

100,000

168,574

Wales & West Utilities Finance PLC 6.75% 12/17/36 (h)

GBP

150,000

255,163

Western Power Distribution PLC 5.75% 3/23/40

GBP

150,000

242,798

TOTAL UNITED KINGDOM

13,581,558

United States of America - 2.6%

Altria Group, Inc.:

8.5% 11/10/13

210,000

248,091

9.25% 8/6/19

400,000

512,792

Anheuser-Busch InBev Worldwide, Inc. 5.375% 1/15/20

340,000

366,384

Apache Corp. 5.1% 9/1/40

450,000

412,191

Bank of America Corp. 4.75% 5/6/19

EUR

250,000

319,800

Citigroup, Inc.:

4.25% 2/25/30 (h)

EUR

600,000

657,021

4.587% 12/15/15

500,000

522,112

Comcast Corp. 6.4% 3/1/40

300,000

311,286

COX Communications, Inc. 8.375% 3/1/39 (f)

200,000

256,224

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

Credit Suisse New York Branch:

4.375% 8/5/20

$ 600,000

$ 580,905

5% 5/15/13

400,000

428,497

DIRECTV Holdings LLC/DIRECTV Financing, Inc. 5.2% 3/15/20

400,000

413,292

Enbridge Energy Partners LP 5.2% 3/15/20

250,000

261,130

General Electric Capital Corp. 5.9% 5/13/14

160,000

177,540

General Electric Co. 5.25% 12/6/17

400,000

433,195

Glencore Funding LLC 6% 4/15/14 (Reg. S)

309,000

330,358

Goldman Sachs Group, Inc.:

4.375% 3/16/17

EUR

150,000

200,594

6% 5/1/14

150,000

166,786

6.15% 4/1/18

200,000

217,839

JPMorgan Chase & Co. 4.25% 10/15/20

1,020,000

981,666

KeyBank NA:

1.166% 11/21/11 (h)

EUR

50,000

65,837

1.22% 2/9/12 (h)

EUR

510,000

671,993

Liberty Mutual Group, Inc. 5.75% 3/15/14 (f)

250,000

264,148

Merck & Co., Inc. 5.85% 6/30/39

300,000

329,234

Metropolitan Life Global Funding I 4.625% 5/16/17

EUR

900,000

1,253,847

Morgan Stanley:

1.312% 7/20/12 (h)

EUR

430,000

580,168

3.45% 11/2/15

1,000,000

982,204

NBC Universal, Inc. 4.375% 4/1/21 (f)

500,000

483,824

Plains All American Pipeline LP/PAA Finance Corp. 8.75% 5/1/19

100,000

125,456

PPL Energy Supply LLC 6.5% 5/1/18

160,000

177,641

Roche Holdings, Inc. 6% 3/1/19 (f)

150,000

173,215

Southeast Supply Header LLC 4.85% 8/15/14 (f)

300,000

316,406

Sprint Capital Corp. 8.75% 3/15/32

325,000

338,406

Toyota Motor Credit Corp. 5.25% 2/3/12

EUR

200,000

283,131

US Bank NA 4.375% 2/28/17 (h)

EUR

450,000

601,813

TOTAL UNITED STATES OF AMERICA

14,445,026

TOTAL NONCONVERTIBLE BONDS

65,049,287

TOTAL CORPORATE BONDS

(Cost $63,594,081)

65,333,037

Government Obligations - 20.9%

 

Principal
Amount (d)

Value

Canada - 0.6%

Canadian Government:

Real Return Bond 4.25% 12/1/21

CAD

1,414,310

$ 1,859,974

5.25% 6/1/12

CAD

850,000

891,952

Ontario Province 4.4% 6/2/19

CAD

650,000

676,796

TOTAL CANADA

3,428,722

France - 0.1%

French Republic 3.75% 10/25/19

EUR

600,000

843,389

Germany - 1.3%

German Federal Republic:

2% 2/26/16

EUR

200,000

268,598

3.5% 4/12/13 (g)

EUR

200,000

285,740

4.75% 7/4/40

EUR

2,550,000

4,202,057

5.625% 1/4/28

EUR

1,460,000

2,488,951

TOTAL GERMANY

7,245,346

Italy - 2.2%

Italian Republic 3.75% 3/1/21

EUR

9,500,000

12,090,953

Japan - 11.2%

Japan Government:

0.4% 5/15/11

JPY

950,000,000

11,583,090

0.9% 6/20/13

JPY

110,000,000

1,361,746

1.1% 12/20/12

JPY

18,700,000

231,759

1.3% 3/20/15

JPY

740,000,000

9,340,967

1.3% 6/20/20

JPY

1,276,000,000

15,758,091

1.7% 12/20/16

JPY

245,000,000

3,174,553

1.7% 9/20/17

JPY

201,000,000

2,604,708

1.9% 6/20/16

JPY

469,250,000

6,132,208

1.9% 3/20/29

JPY

846,500,000

10,277,952

2% 9/20/40

JPY

141,000,000

1,677,467

TOTAL JAPAN

62,142,541

Poland - 0.2%

Polish Government 4% 3/23/21

EUR

1,100,000

1,385,428

Spain - 1.6%

Fondo de Reest Ordden Bancaria 4.5% 2/3/14

EUR

1,000,000

1,369,411

Spanish Kingdom 5.5% 4/30/21

EUR

5,300,000

7,334,424

TOTAL SPAIN

8,703,835

Government Obligations - continued

 

Principal
Amount (d)

Value

United Kingdom - 0.2%

UK Treasury GILT:

4% 3/7/22

GBP

310,000

$ 500,777

4.25% 6/7/32

GBP

70,000

109,683

4.75% 12/7/38

GBP

250,000

420,273

TOTAL UNITED KINGDOM

1,030,733

United States of America - 3.5%

Federal Home Loan Bank 3.625% 10/18/13

300,000

320,307

Freddie Mac 2.125% 9/21/12

650,000

666,687

U.S. Treasury Bonds:

3.5% 2/15/39

375,000

311,543

4.625% 2/15/40

200,000

202,188

U.S. Treasury Inflation-Indexed Bonds 2.5% 1/15/29

764,325

846,980

U.S. Treasury Notes:

0.75% 12/15/13

450,000

447,715

1.75% 7/31/15

3,550,000

3,555,006

2.375% 2/28/15

3,400,000

3,518,728

2.625% 8/15/20

1,100,000

1,037,180

2.625% 11/15/20

200,000

187,500

3.5% 5/15/20

8,250,000

8,409,885

TOTAL UNITED STATES OF AMERICA

19,503,719

TOTAL GOVERNMENT OBLIGATIONS

(Cost $108,384,633)

116,374,666

Asset-Backed Securities - 0.2%

 

Clock Finance BV Series 2007-1 Class B2, 1.255% 2/25/15 (h)

EUR

100,000

128,344

Geldilux Ltd. Series 2007-TS Class A, 1.097% 9/8/14 (h)

EUR

200,000

267,311

Tesco Property Finance 2 PLC 6.0517% 10/13/39

GBP

246,887

410,970

VCL No. 11 Ltd. Class A, 1.88% 8/21/15 (h)

EUR

100,332

137,305

Volkswagen Car Lease Series 9 Class B, 0.96% 10/21/13 (h)

EUR

53,371

72,694

TOTAL ASSET-BACKED SECURITIES

(Cost $1,023,190)

1,016,624

Collateralized Mortgage Obligations - 0.5%

 

Principal
Amount (d)

Value

Private Sponsor - 0.5%

Arkle Master Issuer PLC:

floater Series 2006-1X Class 5M1, 1.318% 2/17/52 (h)

EUR

100,000

$ 132,415

Series 2010-2X Class 1A1, 1.6844% 5/17/60 (h)

300,000

299,627

Arran Residential Mortgages Funding No. 1 PLC Series 2006-1X Class CC, 1.225% 4/12/56 (h)

EUR

86,463

116,986

Fosse Master Issuer PLC Series 2010-4 Class A2, 2.406% 10/18/54 (h)

EUR

650,000

888,342

Granite Master Issuer PLC Series 2005-1 Class A5, 0.956% 12/20/54 (h)

EUR

295,957

381,057

Holmes Master Issuer PLC Series 2010-1X Class A2, 1.7031% 10/15/54 (h)

400,000

400,301

Storm BV Series 2010-1 Class A2, 2.022% 3/22/52 (h)

EUR

500,000

678,359

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $2,822,454)

2,897,087

Commercial Mortgage Securities - 0.2%

 

France - 0.0%

FCC Proudreed Properties Class A, 1.276% 8/18/17 (h)

EUR

163,417

201,346

Ireland - 0.1%

German Residential Asset Note Distributor PLC Series 1 Class A, 1.252% 7/20/16 (h)

EUR

165,936

208,439

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 1.826% 7/22/43 (h)

EUR

100,000

89,492

United Kingdom - 0.1%

Eddystone Finance PLC Series 2006-1:

Class A2, 0.9831% 4/19/21 (h)

GBP

150,000

218,625

Class B, 1.1531% 4/19/21 (h)

GBP

100,000

141,692

London & Regional Debt Securitisation No. 1 PLC Class A, 0.9775% 10/15/14 (h)

GBP

100,000

148,953

REC Plantation Place Ltd. Series 5 Class A, 1.0031% 7/25/16 (Reg. S) (h)

GBP

96,742

142,029

TOTAL UNITED KINGDOM

651,299

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,251,638)

1,150,576

Supranational Obligations - 0.0%

 

Principal
Amount

Value

Eurasian Development Bank 7.375% 9/29/14 (Reg. S)
(Cost $200,000)

$ 200,000

$ 216,500

Fixed-Income Funds - 1.4%

Shares

 

Fidelity High Income Central Fund 1 (i)
(Cost $7,422,065)

79,449

7,863,114

Preferred Securities - 0.0%

Principal
Amount

 

Germany - 0.0%

BayernLB Capital Trust I 6.2032% (h)
(Cost $320,701)

$ 400,000

204,655

Equity Central Funds - 3.2%

Shares

 

Fidelity Emerging Markets Equity Central Fund (i)
(Cost $11,905,361)

80,100

17,646,030

Money Market Funds - 2.6%

 

 

 

 

Fidelity Cash Central Fund, 0.19% (b)

13,734,947

13,734,947

Fidelity Securities Lending Cash Central Fund, 0.21% (b)(c)

558,600

558,600

TOTAL MONEY MARKET FUNDS

(Cost $14,293,547)

14,293,547

TOTAL INVESTMENT PORTFOLIO - 99.9%

(Cost $480,335,060)

555,047,111

NET OTHER ASSETS (LIABILITIES) - 0.1%

676,363

NET ASSETS - 100%

$ 555,723,474

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Affiliated fund that is 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.

(c) Investment made with cash collateral received from securities on loan.

(d) Principal amount is stated in United States dollars unless otherwise noted.

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

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,061,978 or 0.4% of net assets.

(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(h) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(i) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-Q and is available upon request or at the SEC's web site at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com. In addition, each Fidelity Central Fund's financial statements are available on the SEC's web site or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 6,742

Fidelity Emerging Markets Equity Central Fund

39,527

Fidelity High Income Central Fund 1

174,521

Fidelity Securities Lending Cash Central Fund

4,044

Total

$ 224,834

Additional information regarding the Fund's fiscal year to date purchases and sales, including the ownership percentage, of the non Money Market Central Funds is as follows:

Fund

Value,
beginning of
period

Purchases

Sales
Proceeds

Value,
end of
period

% ownership,
end of
period

Fidelity Emerging Markets Equity Central Fund

$ 16,045,500

$ 2,055,144

$ 910,800

$ 17,646,030

3.8%

Fidelity High Income Central Fund 1

10,635,391

174,521

3,006,070

7,863,114

1.2%

Total

$ 26,680,891

$ 2,229,665

$ 3,916,870

$ 25,509,144

Other Information

The following is a summary of the inputs used, as of January 31, 2011, 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 in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

United States of America

$ 145,654,012

$ 145,654,012

$ -

$ -

Japan

37,779,460

29,856,693

7,922,767

-

United Kingdom

25,451,741

19,205,689

6,246,052

-

Canada

24,535,776

24,535,776

-

-

France

11,961,763

11,961,763

-

-

Australia

11,040,766

9,321,993

1,718,773

-

Switzerland

9,532,485

8,216,080

1,316,405

-

Germany

9,056,112

9,056,112

-

-

Spain

7,138,732

3,076,696

4,062,036

-

Other

45,900,428

37,015,359

8,885,069

-

Corporate Bonds

65,333,037

-

65,333,037

-

Government Obligations

116,374,666

-

116,374,666

-

Asset-Backed Securities

1,016,624

-

1,016,624

-

Collateralized Mortgage Obligations

2,897,087

-

2,897,087

-

Commercial Mortgage Securities

1,150,576

-

1,150,576

-

Supranational Obligations

216,500

-

216,500

-

Fixed-Income Funds

7,863,114

7,863,114

-

-

Preferred Securities

204,655

-

204,655

-

Equity Central Funds

17,646,030

17,646,030

-

-

Money Market Funds

14,293,547

14,293,547

-

-

Total Investments in Securities:

$ 555,047,111

$ 337,702,864

$ 217,344,247

$ -

Income Tax Information

At January 31, 2011, the cost of investment securities for income tax purposes was $481,161,288. Net unrealized appreciation aggregated $73,885,823, of which $79,113,408 related to appreciated investment securities and $5,227,585 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels. Level 1 - 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. 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 an independent 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 significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, foreign government and government agency obligations, preferred securities, supranational obligations and U.S. government and government agency obligations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy. For asset backed securities, collateralized mortgage obligations and commercial mortgage securities, pricing services utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and, accordingly, such securities are generally categorized as Level 2 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates fair value and are categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Global Balanced Fund

January 31, 2011 

1.813033.106

GBL-QTLY-0311

Investments January 31, 2011 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 58.6%

Shares

Value

Australia - 2.0%

AMP Ltd.

130,356

$ 694,999

ASX Ltd.

8,792

327,336

BHP Billiton Ltd.

38,634

1,718,773

Billabong International Ltd.

40,377

326,730

Coca-Cola Amatil Ltd.

34,851

390,374

Commonwealth Bank of Australia

24,123

1,261,127

Computershare Ltd.

65,676

659,076

Crown Ltd.

73,680

629,993

CSL Ltd.

23,573

874,125

Macquarie Group Ltd.

18,494

748,635

National Australia Bank Ltd.

23,721

582,942

QBE Insurance Group Ltd.

20,623

359,657

Rio Tinto Ltd.

9,523

797,647

Suncorp-Metway Ltd.

75,999

652,851

Wesfarmers Ltd.

25,090

850,867

Woolworths Ltd.

6,225

165,634

TOTAL AUSTRALIA

11,040,766

Austria - 0.1%

Erste Bank AG

13,100

656,381

Bailiwick of Jersey - 0.4%

Experian PLC

63,500

788,212

Randgold Resources Ltd. sponsored ADR

2,300

175,927

Shire PLC

30,957

816,708

Shire PLC sponsored ADR

8,000

634,480

TOTAL BAILIWICK OF JERSEY

2,415,327

Belgium - 0.4%

Ageas

116,000

328,883

Anheuser-Busch InBev SA NV

17,515

966,322

Anheuser-Busch InBev SA NV (strip VVPR) (a)

9,280

51

Umicore SA

14,857

761,704

TOTAL BELGIUM

2,056,960

Bermuda - 0.3%

GOME Electrical Appliances Holdings Ltd. (a)

924,000

349,605

Huabao International Holdings Ltd.

247,000

365,583

Li & Fung Ltd.

120,000

778,011

TOTAL BERMUDA

1,493,199

Brazil - 0.0%

Drogasil SA

9,000

64,768

Common Stocks - continued

Shares

Value

British Virgin Islands - 0.4%

HLS Systems International Ltd. (a)

23,400

$ 375,570

Mail.ru Group Ltd. GDR unit (a)(f)

2,300

81,880

Sable Mining Africa Ltd. (a)

799,600

304,161

UTI Worldwide, Inc.

76,000

1,664,400

TOTAL BRITISH VIRGIN ISLANDS

2,426,011

Canada - 4.4%

Agnico-Eagle Mines Ltd. (Canada)

1,500

102,697

Agrium, Inc.

3,200

282,793

Alimentation Couche-Tard, Inc. Class B (sub. vtg.)

7,800

208,265

ARC Resources Ltd.

1,000

24,903

Astral Media, Inc. Class A (non-vtg.)

1,300

51,982

Bank of Montreal

5,000

288,583

Bank of Nova Scotia

12,400

699,335

Barrick Gold Corp.

10,300

488,404

Baytex Energy Corp.

4,800

236,812

BCE, Inc.

11,600

421,428

Bombardier, Inc. Class B (sub. vtg.)

98,100

558,556

Brookfield Asset Management, Inc. Class A

6,700

218,849

Brookfield Properties Corp.

6,800

119,345

Cameco Corp.

4,700

194,883

Canadian Imperial Bank of Commerce

6,100

464,736

Canadian National Railway Co.

7,800

528,960

Canadian Natural Resources Ltd.

15,200

677,934

Cenovus Energy, Inc.

9,500

328,339

CGI Group, Inc. Class A (sub. vtg.) (a)

17,200

330,908

Crescent Point Energy Corp.

3,500

154,705

Detour Gold Corp. (a)

2,600

67,863

Eldorado Gold Corp.

11,100

178,403

Enbridge, Inc.

9,700

562,563

EnCana Corp.

400

12,894

Finning International, Inc.

7,000

203,756

First Quantum Minerals Ltd.

7,900

914,209

Goldcorp, Inc.

23,000

923,354

Grande Cache Coal Corp. (a)

84,100

905,602

IAMGOLD Corp.

3,500

66,567

IESI-BFC Ltd.

3,900

92,718

Imperial Oil Ltd.

3,400

151,643

Inmet Mining Corp.

2,300

171,506

Intact Financial Corp.

4,200

211,657

Ivanhoe Mines Ltd. (a)

3,910

108,618

Keyera Corp.

29,423

1,038,960

Common Stocks - continued

Shares

Value

Canada - continued

Kodiak Oil & Gas Corp. (a)

13,000

$ 82,550

MacDonald Dettwiler & Associates Ltd. (a)

3,700

179,179

Magna International, Inc. Class A (sub. vtg.)

12,600

735,912

Manulife Financial Corp.

22,000

383,478

Metro, Inc. Class A (sub. vtg.)

3,000

129,607

National Bank of Canada

2,300

160,387

Niko Resources Ltd.

2,900

282,439

Open Text Corp. (a)

2,000

98,771

Osisko Mining Corp. (a)

2,500

33,238

Pacific Rubiales Energy Corp.

3,500

120,827

Petrobank Energy & Resources Ltd. (a)

7,700

180,751

Petrominerales Ltd.

4,105

160,083

Potash Corp. of Saskatchewan, Inc.

4,400

779,702

Quebecor, Inc. Class B (sub. vtg.)

2,200

77,992

Research In Motion Ltd. (a)

5,000

295,550

Rogers Communications, Inc. Class B (non-vtg.)

4,050

141,473

Royal Bank of Canada

15,000

804,315

SNC-Lavalin Group, Inc.

2,000

117,211

Sun Life Financial, Inc.

5,900

185,705

Suncor Energy, Inc.

21,372

885,110

SXC Health Solutions Corp. (a)

8,600

414,065

Talisman Energy, Inc.

41,600

953,255

Teck Resources Ltd. Class B (sub. vtg.)

9,800

593,717

TELUS Corp.

4,200

208,301

The Toronto-Dominion Bank

14,600

1,093,213

Thomson Reuters Corp.

5,000

199,780

Ultra Petroleum Corp. (a)

9,000

429,570

Uranium One, Inc.

140,200

917,301

Valeant Pharmaceuticals International, Inc.

46,160

1,682,528

Vitran Corp., Inc. (a)

11,000

149,490

Yamana Gold, Inc.

6,000

67,546

TOTAL CANADA

24,535,776

Cayman Islands - 0.4%

China Rongsheng Heavy Industry Group Co. Ltd.

62,500

56,914

China ZhengTong Auto Services Holdings Ltd.

206,500

171,359

E-Commerce China Dangdang, Inc. ADR

3,900

110,370

Fabrinet (a)

4,000

95,800

Geely Automobile Holdings Ltd.

755,000

354,415

Hengdeli Holdings Ltd.

936,000

527,016

Herbalife Ltd.

4,000

261,320

Common Stocks - continued

Shares

Value

Cayman Islands - continued

Tencent Holdings Ltd.

33,300

$ 862,739

YouKu.com, Inc. ADR (a)(e)

1,600

47,408

TOTAL CAYMAN ISLANDS

2,487,341

China - 0.2%

Baidu.com, Inc. sponsored ADR (a)

3,800

412,794

BYD Co. Ltd. (H Shares)

32,000

156,372

Changyou.com Ltd. (A Shares) ADR (a)

12,800

439,936

TOTAL CHINA

1,009,102

Denmark - 0.9%

Carlsberg AS Series B

6,900

687,440

FLSmidth & Co. A/S

4,900

420,962

Novo Nordisk AS Series B

32,275

3,633,371

Pandora A/S

5,900

376,524

TOTAL DENMARK

5,118,297

Falkland Islands - 0.0%

Falkland Oil & Gas Ltd. (a)

58,500

88,075

Finland - 0.3%

Nokia Corp.

76,700

818,034

Nokian Tyres PLC

15,500

559,770

TOTAL FINLAND

1,377,804

France - 2.2%

Alstom SA

15,602

870,705

Atos Origin SA (a)

11,836

658,915

AXA SA

53,000

1,121,731

BNP Paribas SA

23,036

1,721,881

Club Mediterranee SA (a)

12,200

279,839

Iliad Group SA

6,853

727,555

L'Oreal SA

8,600

998,384

LVMH Moet Hennessy - Louis Vuitton

7,759

1,211,447

Natixis SA (a)

139,400

739,881

PPR SA

7,300

1,166,764

Remy Cointreau SA

5,491

389,465

Safran SA

16,200

585,494

Schneider Electric SA

6,236

972,374

Societe Generale Series A

8,001

517,328

TOTAL FRANCE

11,961,763

Germany - 1.2%

Bayerische Motoren Werke AG (BMW)

19,408

1,490,020

Common Stocks - continued

Shares

Value

Germany - continued

Fresenius Medical Care AG & Co. KGaA

8,500

$ 497,286

HeidelbergCement AG

10,900

712,232

Linde AG

3,964

577,674

MAN SE

6,079

702,722

Rheinmetall AG

7,000

599,321

Siemens AG

14,489

1,857,192

TOTAL GERMANY

6,436,447

Hong Kong - 0.4%

BOC Hong Kong (Holdings) Ltd.

122,500

395,146

Cheung Kong Holdings Ltd.

16,000

263,903

Hong Kong Exchanges and Clearing Ltd.

36,600

839,329

Hutchison Whampoa Ltd.

26,000

303,124

SJM Holdings Ltd.

214,000

358,460

TOTAL HONG KONG

2,159,962

Ireland - 0.1%

James Hardie Industries NV unit (a)

52,561

326,849

Ryanair Holdings PLC sponsored ADR

12,900

394,224

TOTAL IRELAND

721,073

Isle of Man - 0.1%

Genting International PLC (a)

309,000

487,946

Italy - 0.4%

Fiat Industrial SpA (a)

54,000

730,759

Fiat SpA

37,100

360,100

Intesa Sanpaolo SpA

150,868

501,888

Saipem SpA

14,753

737,993

TOTAL ITALY

2,330,740

Japan - 6.8%

All Nippon Airways Ltd. (a)

97,000

355,714

Asahi Glass Co. Ltd.

29,000

361,440

Asahi Kasei Corp.

76,000

518,519

Canon, Inc.

14,600

718,666

Chuo Mitsui Trust Holdings, Inc.

151,000

607,091

Cosmos Pharmaceutical Corp.

4,000

160,819

CyberAgent, Inc.

398

1,122,527

Daiwa House Industry Co. Ltd.

102,000

1,243,933

Denso Corp.

18,700

688,036

Exedy Corp.

13,300

446,736

Fuji Machine Manufacturing Co. Ltd.

6,500

138,584

Common Stocks - continued

Shares

Value

Japan - continued

Fuji Oil Co. Ltd.

5,400

$ 78,224

Fujifilm Holdings Corp.

33,300

1,202,906

Fujitsu Ltd.

174,000

1,083,260

GREE, Inc.

24,500

393,110

Hitachi High-Technologies Corp.

11,100

274,254

Hitachi Metals Ltd.

10,000

117,568

Hitachi Transport System Ltd.

20,400

311,418

Honda Motor Co. Ltd.

52,400

2,258,555

Ibiden Co. Ltd.

10,700

361,620

JTEKT Corp.

27,900

349,090

JX Holdings, Inc.

113,980

770,698

Kao Corp.

9,200

240,424

Kenedix Realty Investment Corp.

6

27,668

Kenedix, Inc. (a)

697

176,033

Kuraray Co. Ltd.

88,400

1,240,702

Lawson, Inc.

4,400

219,518

Makita Corp.

6,400

277,193

Marubeni Corp.

25,000

187,926

Marui Group Co. Ltd.

14,500

122,600

Mitsubishi Corp.

42,100

1,172,009

Mitsubishi Electric Corp.

7,000

77,181

Mitsubishi UFJ Financial Group, Inc.

269,900

1,401,838

Mitsubishi UFJ Lease & Finance Co. Ltd.

4,750

192,419

Mitsui & Co. Ltd.

83,200

1,398,830

Mizuho Financial Group, Inc.

469,000

905,430

MORI TRUST Sogo (REIT), Inc.

21

218,750

MS&AD Insurance Group Holdings, Inc.

43,200

1,027,368

Murata Manufacturing Co. Ltd.

1,000

75,780

NHK Spring Co. Ltd.

80,000

904,483

Nichi-iko Pharmaceutical Co. Ltd.

8,400

236,915

Nippon Television Network Corp.

910

144,128

NOK Corp.

55,400

1,115,020

NTT DoCoMo, Inc.

412

736,758

NTT Urban Development Co.

96

98,947

Obayashi Corp.

15,000

71,637

Oracle Corp. Japan

3,700

169,268

Oriental Land Co. Ltd.

3,000

276,316

ORIX Corp.

11,020

1,087,500

Osaka Securities Exchange Co. Ltd.

12

61,330

Pioneer Corp. (a)

38,200

164,751

Rakuten, Inc.

956

840,926

Santen Pharmaceutical Co. Ltd.

10,600

380,453

Common Stocks - continued

Shares

Value

Japan - continued

SBI Holdings, Inc.

4,873

$ 650,090

Sega Sammy Holdings, Inc.

13,800

276,404

Shin-Etsu Chemical Co., Ltd.

2,800

157,602

SMC Corp.

3,600

609,211

SOFTBANK CORP.

21,300

732,577

Sony Corp.

34,800

1,197,520

Sumitomo Electric Industries Ltd.

19,700

286,092

Sumitomo Heavy Industries Ltd.

240,000

1,529,240

Sumitomo Metal Mining Co. Ltd.

25,000

409,661

Tokai Carbon Co. Ltd.

145,000

849,720

Tokyo Electron Ltd.

5,700

371,528

Toshiba Corp.

115,000

679,520

Tosoh Corp.

100,000

324,074

Toyo Engineering Corp.

29,000

109,527

Toyota Motor Corp.

17,100

704,000

Universal Entertainment Corp. (a)

2,800

79,825

TOTAL JAPAN

37,779,460

Korea (South) - 0.0%

Kia Motors Corp.

2,000

97,690

Luxembourg - 0.1%

ArcelorMittal SA (Netherlands)

21,100

769,605

Netherlands - 0.4%

AEGON NV (a)

98,900

731,895

ASML Holding NV (Netherlands)

12,500

524,035

ING Groep NV (Certificaten Van Aandelen) unit (a)

54,900

625,099

Nielsen Holdings B.V. (a)

7,400

192,918

TOTAL NETHERLANDS

2,073,947

Netherlands Antilles - 0.5%

Schlumberger Ltd.

28,000

2,491,720

Norway - 0.5%

Aker Solutions ASA

21,400

389,138

DnB NOR ASA

44,800

616,407

Storebrand ASA (A Shares) (a)

96,500

758,906

Telenor ASA

24,200

373,178

Yara International ASA

10,300

579,531

TOTAL NORWAY

2,717,160

Papua New Guinea - 0.1%

Oil Search Ltd.

76,974

510,878

Common Stocks - continued

Shares

Value

Poland - 0.1%

Eurocash SA

42,000

$ 464,424

Qatar - 0.1%

Commercial Bank of Qatar GDR (Reg. S)

72,240

333,269

Russia - 0.7%

Magnit OJSC GDR (Reg. S)

21,800

570,506

Magnitogorsk Iron & Steel Works OJSC unit

27,700

404,420

Mechel Steel Group OAO sponsored ADR

16,000

504,480

OAO Gazprom sponsored ADR

35,200

941,952

OJSC MMC Norilsk Nickel sponsored ADR

15,200

392,160

Sberbank (Savings Bank of the Russian Federation) GDR

1,300

492,977

Uralkali JSC GDR (Reg. S)

16,700

633,765

TOTAL RUSSIA

3,940,260

Singapore - 0.5%

Avago Technologies Ltd.

65,100

1,869,021

Keppel Corp. Ltd.

63,000

576,220

Sabana Shariah Compliant Industrial REIT

111,000

84,604

Singapore Exchange Ltd.

70,000

462,946

TOTAL SINGAPORE

2,992,791

South Africa - 0.1%

Barloworld Ltd.

24,200

233,323

Blue Label Telecoms Ltd.

75,000

65,718

Clicks Group Ltd.

80,151

442,013

TOTAL SOUTH AFRICA

741,054

Spain - 1.3%

Banco Santander SA

192,949

2,362,238

Banco Santander SA rights 1/31/11 (a)

171,804

32,458

Gestevision Telecinco SA

175,223

2,202,101

Inditex SA

11,146

842,137

Telefonica SA

67,903

1,699,798

TOTAL SPAIN

7,138,732

Sweden - 0.6%

Elekta AB (B Shares)

12,500

505,332

H&M Hennes & Mauritz AB (B Shares)

27,403

898,821

Sandvik AB

42,800

839,918

Swedbank AB (A Shares) (a)

57,746

905,862

TOTAL SWEDEN

3,149,933

Common Stocks - continued

Shares

Value

Switzerland - 1.7%

Clariant AG (Reg.) (a)

24,650

$ 435,223

Compagnie Financiere Richemont SA Series A

19,115

1,039,618

Julius Baer Group Ltd.

9,090

411,296

Petroplus Holdings AG

7,000

114,696

Schindler Holding AG (participation certificate)

6,091

679,968

The Swatch Group AG (Bearer)

2,280

914,270

Transocean Ltd. (a)

7,600

607,468

UBS AG (a)

73,536

1,316,405

Weatherford International Ltd. (a)

107,100

2,540,412

Zurich Financial Services AG

5,393

1,473,129

TOTAL SWITZERLAND

9,532,485

Turkey - 0.1%

Boyner Buyuk Magazacilik AS (a)

99,000

230,763

Turkiye Garanti Bankasi AS

111,000

493,948

TOTAL TURKEY

724,711

United Kingdom - 4.6%

ARM Holdings PLC sponsored ADR

9,000

225,360

Aviva PLC

88,300

627,891

BG Group PLC

67,796

1,521,282

BHP Billiton PLC

27,074

1,033,660

BP PLC

170,200

1,337,238

BP PLC sponsored ADR

34,200

1,623,474

Burberry Group PLC

38,000

653,665

Carphone Warehouse Group PLC (a)

153,350

989,820

Fresnillo PLC

21,400

444,208

HSBC Holdings PLC sponsored ADR

44,996

2,458,581

International Personal Finance PLC

71,800

393,295

ITV PLC (a)

540,300

672,394

Kazakhmys PLC

21,200

511,362

Kesa Electricals PLC

55,300

114,168

Lloyds Banking Group PLC (a)

911,800

922,005

Micro Focus International PLC

73,900

485,521

Misys PLC

124,000

673,865

Morgan Crucible Co. PLC

136,100

592,482

Next PLC

9,100

288,148

Reckitt Benckiser Group PLC

20,400

1,109,271

Royal Dutch Shell PLC Class A (United Kingdom)

85,637

3,015,474

Sage Group PLC

83,300

393,715

Schroders PLC

20,600

594,882

SuperGroup PLC

17,900

438,644

Common Stocks - continued

Shares

Value

United Kingdom - continued

TalkTalk Telecom Group PLC

159,800

$ 412,837

Vodafone Group PLC

828,600

2,325,258

Wolfson Microelectronics PLC (a)

101,000

488,535

Xstrata PLC

49,800

1,104,706

TOTAL UNITED KINGDOM

25,451,741

United States of America - 26.2%

AboveNet, Inc.

14,800

881,488

Acme Packet, Inc. (a)

1,000

53,780

Affiliated Managers Group, Inc. (a)

11,000

1,120,130

Akamai Technologies, Inc. (a)

3,000

144,960

Alexion Pharmaceuticals, Inc. (a)

15,600

1,307,592

Allegheny Technologies, Inc.

5,000

325,950

Allergan, Inc.

5,600

395,416

Amazon.com, Inc. (a)

9,600

1,628,544

American Capital Ltd. (a)

37,000

302,290

Ameriprise Financial, Inc.

25,000

1,541,250

Anadarko Petroleum Corp.

14,500

1,117,660

Apple, Inc. (a)

19,500

6,616,740

Ardea Biosciences, Inc. (a)

20,200

535,704

Ariba, Inc. (a)

17,000

477,530

athenahealth, Inc. (a)

3,000

128,820

Atlas Energy, Inc. (a)

1,000

44,300

Atmel Corp. (a)

45,000

609,300

Baker Hughes, Inc.

17,000

1,164,670

Bank of America Corp.

231,200

3,174,376

BankUnited, Inc. (a)

3,200

89,600

BGC Partners, Inc. Class A

13,000

105,300

BioMarin Pharmaceutical, Inc. (a)

11,674

296,753

Bottomline Technologies, Inc. (a)

3,000

68,790

Brigham Exploration Co. (a)

2,000

59,220

Cabot Oil & Gas Corp.

10,000

416,300

Carlisle Companies, Inc.

2,000

75,420

Carrizo Oil & Gas, Inc. (a)

2,000

67,700

Caterpillar, Inc.

10,000

970,100

Celanese Corp. Class A

17,000

705,330

Ceva, Inc. (a)

26,000

628,420

Chesapeake Energy Corp.

13,000

383,890

Ciena Corp. (a)

6,600

145,398

Citi Trends, Inc. (a)

17,000

389,300

Citigroup, Inc. (a)

87,700

422,714

CLARCOR, Inc.

2,000

86,360

Common Stocks - continued

Shares

Value

United States of America - continued

Clearwire Corp. Class A (a)

42,000

$ 222,180

Cognizant Technology Solutions Corp. Class A (a)

11,100

809,745

Comstock Resources, Inc. (a)

27,000

747,900

Concho Resources, Inc. (a)

1,000

96,250

Concur Technologies, Inc. (a)

5,000

255,150

Continental Resources, Inc. (a)

1,000

64,210

Convio, Inc. (a)

6,000

54,540

Corvel Corp. (a)

1,000

50,480

CSX Corp.

17,000

1,200,200

Cummins, Inc.

14,000

1,482,320

Cypress Semiconductor Corp. (a)

12,000

259,800

DealerTrack Holdings, Inc. (a)

9,000

177,885

Demand Media, Inc. (a)

5,700

115,596

DemandTec, Inc. (a)

2,000

24,100

Dover Corp.

6,000

384,600

DSW, Inc. Class A (a)

5,000

166,450

Dynavax Technologies Corp. (a)

33,000

99,000

Eaton Corp.

2,000

215,920

eBay, Inc. (a)

110,000

3,339,600

ebix.com, Inc. (a)

5,000

112,750

Edwards Lifesciences Corp. (a)

34,000

2,865,860

Elizabeth Arden, Inc. (a)

11,000

281,490

EMC Corp. (a)

38,000

945,820

Emerson Electric Co.

10,000

588,800

Estee Lauder Companies, Inc. Class A

41,000

3,300,500

Expeditors International of Washington, Inc.

5,000

253,350

Exxon Mobil Corp.

93,300

7,527,444

Fossil, Inc. (a)

39,000

2,770,950

Freeport-McMoRan Copper & Gold, Inc.

17,000

1,848,750

Fresh Market, Inc.

500

18,385

G-III Apparel Group Ltd. (a)

55,700

1,943,373

General Electric Co.

245,000

4,934,300

General Motors Co.

20,600

751,694

Georesources, Inc. (a)

2,000

55,280

Google, Inc. Class A (a)

4,400

2,641,584

GrafTech International Ltd. (a)

2,000

42,000

Green Dot Corp. (e)

9,000

566,190

Greenbrier Companies, Inc. (a)

39,000

923,130

GT Solar International, Inc. (a)

17,000

187,765

Harley-Davidson, Inc.

7,000

277,550

HeartWare International, Inc. (a)

1,400

130,214

Hess Corp.

19,000

1,598,280

Common Stocks - continued

Shares

Value

United States of America - continued

Higher One Holdings, Inc. (a)

3,000

$ 57,060

HMS Holdings Corp. (a)

5,000

321,700

Holly Corp.

29,000

1,423,030

Home Depot, Inc.

20,000

735,400

IDEXX Laboratories, Inc. (a)

1,000

71,700

Illumina, Inc. (a)

13,100

908,354

ImmunoGen, Inc. (a)

19,000

156,940

Informatica Corp. (a)

54,000

2,505,600

Intuit, Inc. (a)

19,000

891,670

iRobot Corp. (a)

57,000

1,539,000

JDS Uniphase Corp. (a)

36,900

626,193

Johnson & Johnson

13,000

777,010

JPMorgan Chase & Co.

79,000

3,550,260

Juniper Networks, Inc. (a)

17,000

631,040

Kansas City Southern (a)

3,000

149,940

Kenexa Corp. (a)

2,000

41,480

Key Energy Services, Inc. (a)

51,000

678,810

KKR Financial Holdings LLC

64,800

625,968

Las Vegas Sands Corp. (a)

15,000

697,350

Leucadia National Corp.

9,700

315,444

Lincoln National Corp.

97,000

2,797,480

Mako Surgical Corp. (a)

47,400

735,648

Marathon Oil Corp.

42,500

1,942,250

McKesson Corp.

12,000

902,040

Meru Networks, Inc. (a)

7,000

125,930

Micromet, Inc. (a)

25,000

160,750

MKS Instruments, Inc. (a)

14,000

401,940

Morgan Stanley

57,200

1,681,680

Motorola Mobility Holdings, Inc.

500

13,935

NetSuite, Inc. (a)(e)

5,000

134,650

Neurocrine Biosciences, Inc. (a)

12,700

93,726

Noble Energy, Inc.

3,900

355,290

Nu Skin Enterprises, Inc. Class A

6,000

180,480

NVIDIA Corp. (a)

7,000

167,440

NVR, Inc. (a)

900

688,500

Oasis Petroleum, Inc. (a)

2,000

63,940

Oil States International, Inc. (a)

7,400

501,424

OpenTable, Inc. (a)

3,000

235,860

Oracle Corp.

91,000

2,914,730

PACCAR, Inc.

5,000

282,450

Pall Corp.

8,000

443,280

Paychex, Inc.

14,000

448,000

Common Stocks - continued

Shares

Value

United States of America - continued

Perrigo Co.

40,000

$ 2,909,600

Petrohawk Energy Corp. (a)

52,000

1,042,600

Phillips-Van Heusen Corp.

48,400

2,825,108

Pioneer Natural Resources Co.

5,000

475,800

Polypore International, Inc. (a)

14,100

678,915

PPG Industries, Inc.

1,000

84,280

Prestige Brands Holdings, Inc. (a)

73,000

805,920

Procter & Gamble Co.

13,000

820,690

Public Storage

1,000

108,980

QEP Resources, Inc.

6,000

243,840

QUALCOMM, Inc.

39,000

2,111,070

Range Resources Corp.

11,000

548,570

Raymond James Financial, Inc.

3,000

108,660

RealPage, Inc.

23,000

629,970

Red Hat, Inc. (a)

13,000

537,160

Regeneron Pharmaceuticals, Inc. (a)

16,000

538,880

Resolute Energy Corp. (a)

8,400

152,040

Rex Energy Corp. (a)

5,000

60,175

RightNow Technologies, Inc. (a)

2,000

51,860

Riverbed Technology, Inc. (a)

7,000

251,090

Roper Industries, Inc.

1,000

77,690

salesforce.com, Inc. (a)

8,000

1,033,120

Satcon Technology Corp. (a)

17,000

82,450

SeaChange International, Inc. (a)

8,000

66,240

Shaw Group, Inc. (a)

21,000

793,170

Sirius XM Radio, Inc. (a)

106,000

171,190

Skyworks Solutions, Inc. (a)

126,000

4,003,020

Solera Holdings, Inc.

3,700

193,621

Southwestern Energy Co. (a)

23,000

908,500

SPS Commerce, Inc. (a)

2,000

31,750

Starbucks Corp.

10,000

315,300

SuccessFactors, Inc. (a)

7,000

203,840

Susquehanna Bancshares, Inc., Pennsylvania

24,000

229,440

SVB Financial Group (a)

44,900

2,355,903

Targacept, Inc. (a)

17,210

443,330

Team Health Holdings, Inc. (a)

3,000

46,380

Teradyne, Inc. (a)

41,000

683,880

Tesla Motors, Inc. (a)

5,000

120,500

Tesoro Corp. (a)

39,000

750,750

Theravance, Inc. (a)

41,000

862,640

TIBCO Software, Inc. (a)

3,000

65,940

Tiffany & Co., Inc.

3,800

220,894

Common Stocks - continued

Shares

Value

United States of America - continued

TJX Companies, Inc.

21,000

$ 995,190

TriQuint Semiconductor, Inc. (a)

82,200

1,081,752

TRW Automotive Holdings Corp. (a)

8,100

483,246

Ulta Salon, Cosmetics & Fragrance, Inc. (a)

10,000

370,400

Ultimate Software Group, Inc. (a)

1,000

48,600

Union Pacific Corp.

23,100

2,185,953

United Rentals, Inc. (a)

5,000

133,250

United States Steel Corp.

10,100

582,467

United Therapeutics Corp. (a)

5,000

339,900

Universal Display Corp. (a)

3,000

101,520

Vera Bradley, Inc.

600

20,637

Vertex Pharmaceuticals, Inc. (a)

1,000

38,890

Virgin Media, Inc.

31,700

797,572

WABCO Holdings, Inc. (a)

6,000

350,400

Wal-Mart Stores, Inc.

45,000

2,523,150

Walter Energy, Inc.

4,000

521,080

WebMD Health Corp. (a)

22,220

1,161,662

WESCO International, Inc. (a)

2,000

112,100

Western Refining, Inc. (a)

20,000

243,600

Whiting Petroleum Corp. (a)

8,000

1,010,240

ZIOPHARM Oncology, Inc. (a)

77,000

449,295

Zix Corp. (a)(e)

149,000

670,500

TOTAL UNITED STATES OF AMERICA

145,654,012

TOTAL COMMON STOCKS

(Cost $267,441,388)

325,431,610

Nonconvertible Preferred Stocks - 0.5%

 

 

 

 

Germany - 0.5%

ProSiebenSat.1 Media AG

20,600

632,698

Volkswagen AG

12,300

1,986,967

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $1,676,002)

2,619,665

Corporate Bonds - 11.8%

 

Principal Amount

 

Convertible Bonds - 0.1%

United States of America - 0.1%

Volcano Corp. 2.875% 9/1/15

$ 250,000

283,750

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - 11.7%

Australia - 0.4%

Fairfax Media Group Finance Pty Ltd. 6.25% 6/15/12

EUR

250,000

$ 344,180

Optus Finance Pty Ltd. 3.5% 9/15/20

EUR

200,000

257,694

Rio Tinto Finance (USA) Ltd. 9% 5/1/19

250,000

331,426

Westpac Banking Corp.:

4.25% 9/22/16

EUR

250,000

349,657

4.875% 11/19/19

600,000

622,067

WT Finance (Aust) Pty Ltd./Westfield Europe Finance PLC/WEA Finance 3.625% 6/27/12

EUR

400,000

556,258

TOTAL AUSTRALIA

2,461,282

Bailiwick of Jersey - 0.1%

BAA Funding Ltd. 4.125% 10/12/18

EUR

250,000

334,716

Belgium - 0.2%

Anheuser-Busch InBev SA NV 4% 4/26/18

EUR

250,000

345,055

Belgacom SA 3.875% 2/7/18

EUR

300,000

409,833

Fortis Banque SA 4.625% (Reg. S) (h)

EUR

450,000

517,482

TOTAL BELGIUM

1,272,370

Bermuda - 0.1%

Li & Fung Ltd. 5.25% 5/13/20

700,000

711,087

Brazil - 0.1%

Telemar Norte Leste SA 5.5% 10/23/20 (Reg. S)

500,000

487,500

British Virgin Islands - 0.2%

CNOOC Finance 2011 Ltd. 4.25% 1/26/21

400,000

393,289

PCCW-HKT Capital No. 4 Ltd. 4.25% 2/24/16

500,000

502,325

TOTAL BRITISH VIRGIN ISLANDS

895,614

Canada - 0.0%

Xstrata Finance Canada Ltd. 5.25% 6/13/17

EUR

150,000

213,798

Cayman Islands - 0.4%

Banco Do Brasil SA 4.5% 1/20/16

EUR

200,000

272,431

Bishopgate Asset Finance Ltd. 4.808% 8/14/44

GBP

200,000

250,818

Hutchison Whampoa International 09 Ltd. 7.625% 4/9/19 (Reg. S)

400,000

481,400

MUFG Capital Finance 5 Ltd. 6.299% (h)

GBP

300,000

446,860

SMFG Preferred Capital GBP 2 Ltd. 10.231% 12/31/49 (h)

GBP

150,000

279,888

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Cayman Islands - continued

Thames Water Utilities Cayman Finance Ltd. 6.125% 2/4/13

EUR

150,000

$ 218,926

Yorkshire Water Services Finance Ltd. 6.375% 8/19/39

GBP

100,000

179,730

TOTAL CAYMAN ISLANDS

2,130,053

Cyprus - 0.1%

Alfa MTN Issuance Ltd. 8% 3/18/15

300,000

315,477

Denmark - 0.1%

Carlsberg Breweries A/S 3.375% 10/13/17

EUR

300,000

391,732

France - 1.1%

Arkema SA 4% 10/25/17

EUR

250,000

334,321

AXA SA 5.25% 4/16/40 (h)

EUR

500,000

631,006

BNP Paribas SA 5.019% (h)

EUR

150,000

178,655

Caisse Nationale des Caisses d' Epargne et de Prevoyance 6.117% (h)

EUR

50,000

56,445

Compagnie de St. Gobain 1.247% 4/11/12 (h)

EUR

175,000

238,039

Credit Agricole SA 7.875% (h)

EUR

200,000

274,485

Credit Commercial de France 4.875% 1/15/14

EUR

250,000

360,327

Credit Logement SA:

1.626% (h)

EUR

150,000

166,334

4.604% (h)

EUR

250,000

280,645

EDF SA:

4.625% 9/11/24

EUR

150,000

206,015

6.95% 1/26/39 (f)

250,000

293,473

Lafarge SA 8.75% 5/30/17

GBP

250,000

460,828

Natixis SA 1.279% 1/26/17 (h)

EUR

100,000

128,359

Safran SA 4% 11/26/14

EUR

550,000

754,350

Societe Generale:

1.202% 6/7/17 (h)

EUR

100,000

129,409

7.756% (h)

EUR

350,000

477,952

Societe Generale SCF 4% 7/7/16

EUR

450,000

636,807

Veolia Environnement 6.125% 11/25/33

EUR

250,000

370,140

TOTAL FRANCE

5,977,590

Germany - 0.2%

Bayerische Landesbank Girozentrale 4.5% 2/7/19 (h)

EUR

250,000

284,694

Commerzbank AG:

4.125% 9/13/16 (h)

EUR

300,000

351,080

5.625% 11/29/17 (h)

EUR

100,000

126,212

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Germany - continued

Eurogrid GmbH 3.875% 10/22/20

EUR

100,000

$ 130,515

Landesbank Berlin AG 5.875% 11/25/19

EUR

250,000

337,218

TOTAL GERMANY

1,229,719

India - 0.0%

Export-Import Bank of India 0.6825% 6/7/12 (h)

JPY

20,000,000

238,855

Ireland - 0.1%

Ardagh Glass Group PLC 10.75% 3/1/15 pay-in-kind

EUR

287,205

393,031

Italy - 0.1%

Intesa Sanpaolo SpA:

3.75% 11/23/16

EUR

350,000

454,435

6.375% 11/12/17 (h)

GBP

150,000

226,066

TOTAL ITALY

680,501

Japan - 0.1%

ORIX Corp. 5% 1/12/16

450,000

454,989

Sumitomo Mitsui Banking Corp. 4% 11/9/20 (Reg. S)

EUR

200,000

253,514

TOTAL JAPAN

708,503

Korea (South) - 0.6%

Export-Import Bank of Korea 5.875% 1/14/15

500,000

544,280

Kookmin Bank 5.875% 6/11/12

200,000

210,127

Korea Electric Power Corp. 5.5% 7/21/14 (Reg. S)

190,000

206,446

Korea National Housing Corp. 4.875% 9/10/14

800,000

846,943

Korea Resources Corp. 4.125% 5/19/15

610,000

624,414

National Agricultural Cooperative Federation:

4.25% 1/28/16 (Reg. S)

450,000

450,387

5% 9/30/14 (Reg. S)

200,000

209,828

Shinhan Bank 6% 6/29/12 (Reg. S)

300,000

315,670

TOTAL KOREA (SOUTH)

3,408,095

Luxembourg - 0.8%

Alrosa Finance SA 7.75% 11/3/20 (Reg. S)

600,000

634,500

Gaz Capital SA (Luxembourg):

5.364% 10/31/14

EUR

150,000

214,377

6.51% 3/7/22 (Reg. S)

450,000

461,250

6.58% 10/31/13

GBP

100,000

170,179

Glencore Finance (Europe) SA:

5.25% 3/22/17

EUR

250,000

345,245

7.125% 4/23/15

EUR

150,000

226,312

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Luxembourg - continued

OAO Industry & Construction Bank 5.01% 9/29/15 (Issued by Or-ICB SA for OAO Industry & Construction Bank) (h)

$ 800,000

$ 775,000

Olivetti Finance NV 7.75% 1/24/33

EUR

300,000

435,551

SB Capital SA 5.4% 3/24/17 (Reg. S)

400,000

399,000

Steel Capital SA 6.7% 10/25/17 (Reg. S)

300,000

296,250

TMK Capital SA 7.75% 1/27/18

300,000

298,650

TOTAL LUXEMBOURG

4,256,314

Mexico - 0.1%

America Movil SAB de CV 5% 3/30/20

400,000

414,670

Multi-National - 0.3%

European Community 2.5% 12/4/15

EUR

1,250,000

1,693,357

Netherlands - 0.6%

AI Finance BV 10.875% 7/15/12

100,000

81,000

BOATS Investments (Netherlands) BV 11% 3/31/17 pay-in-kind

EUR

379,863

455,143

EDP Finance BV 5.875% 2/1/16

EUR

200,000

271,893

GT 2005 Bonds BV 5% 7/21/14 (h)

250,000

236,073

ING Bank NV 4.75% 5/27/19

EUR

200,000

290,161

Koninklijke KPN NV 5.625% 9/30/24

EUR

300,000

431,592

OI European Group BV 6.875% 3/31/17 (Reg. S)

EUR

200,000

286,584

Rabobank Nederland 5.875% 5/20/19

EUR

350,000

512,235

Sabic Capital I BV 3% 11/2/15

550,000

548,779

TOTAL NETHERLANDS

3,113,460

Norway - 0.4%

DnB NOR Bank ASA 4.5% 5/29/14

EUR

200,000

287,207

Kommunalbanken AS 5.125% 5/30/12

1,900,000

2,010,257

TOTAL NORWAY

2,297,464

Russia - 0.1%

Raspadskaya Securities Ltd. 7.5% 5/22/12

300,000

310,653

RSHB Capital SA 7.5% 3/25/13

RUB

11,000,000

369,165

TOTAL RUSSIA

679,818

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Spain - 0.1%

Santander Finance Preferred SA Unipersonal 7.3% 7/29/19 (h)

GBP

100,000

$ 153,119

Telefonica Emisiones SAU 4.75% 2/7/17 (g)

EUR

100,000

136,878

TOTAL SPAIN

289,997

Sweden - 0.2%

Nordea Bank AB 0.5022% 6/9/16 (h)

400,000

396,533

Svenska Handelsbanken AB 0.4516% 3/15/16 (h)

200,000

197,492

Swedbank AB 0.4644% 5/18/17 (h)

500,000

484,180

TOTAL SWEDEN

1,078,205

Switzerland - 0.1%

Credit Suisse New York Branch 5.4% 1/14/20

500,000

505,758

United Arab Emirates - 0.1%

Abu Dhabi National Energy Co. PJSC:

5.875% 10/27/16 (Reg. S)

300,000

319,125

6.5% 10/27/36

300,000

292,749

Emirates Bank International PJSC 4.8044% 4/30/12 (h)

229,000

231,863

TOTAL UNITED ARAB EMIRATES

843,737

United Kingdom - 2.4%

3i Group PLC:

1.228% 6/8/12 (h)

EUR

400,000

529,677

5.625% 3/17/17

EUR

150,000

205,396

Anglo American Capital PLC 6.875% 5/1/18

GBP

300,000

536,160

Bank of Scotland 6.375% 8/16/19

GBP

400,000

579,419

Barclays Bank PLC:

0.4778% 3/23/17 (h)

550,000

510,807

4.875% (h)

EUR

350,000

391,705

6.75% 1/16/23 (h)

GBP

300,000

486,030

14% (h)

GBP

100,000

195,939

BAT International Finance PLC:

7.25% 3/12/24

GBP

100,000

186,852

8.125% 11/15/13

200,000

231,940

BP Capital Markets PLC 3.875% 3/10/15

650,000

680,879

Broadgate PLC 1.5575% 10/5/25 (h)

GBP

25,250

33,971

Daily Mail & General Trust PLC 5.75% 12/7/18

GBP

300,000

456,023

EDF Energy Networks EPN PLC 6% 11/12/36

GBP

160,000

266,779

Experian Finance PLC 4.75% 11/23/18

GBP

300,000

482,681

First Hydro Finance PLC 9% 7/31/21

GBP

320,000

614,511

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United Kingdom - continued

Imperial Tobacco Finance:

7.25% 9/15/14

EUR

150,000

$ 231,593

7.75% 6/24/19

GBP

500,000

941,025

Legal & General Group PLC 4% 6/8/25 (h)

EUR

150,000

185,696

Lloyds TSB Bank PLC 4.875% 1/21/16

550,000

550,470

Marks & Spencer PLC:

6.125% 12/2/19

GBP

100,000

164,179

7.125% 12/1/37 (f)

200,000

192,808

Motability Operations Group PLC 3.75% 11/29/17

EUR

300,000

403,536

National Express Group PLC 6.25% 1/13/17

GBP

150,000

251,514

Nationwide Building Society 1.242% 12/22/16 (h)

EUR

150,000

185,665

Old Mutual PLC:

4.5% 1/18/17 (h)

EUR

450,000

591,254

7.125% 10/19/16

GBP

200,000

344,622

Royal Bank of Scotland PLC:

0.5031% 4/11/16 (h)

250,000

202,008

5.75% 5/21/14

EUR

500,000

706,437

6.934% 4/9/18

EUR

300,000

387,298

Severn Trent Utilities Finance PLC 6.25% 6/7/29

GBP

300,000

528,103

Standard Chartered Bank 5.875% 9/26/17 (Reg. S)

EUR

250,000

359,032

Tesco PLC 5.875% 9/12/16

EUR

100,000

153,544

UBS AG London Branch 6.25% 9/3/13

EUR

100,000

147,470

Virgin Media Secured Finance PLC 7% 1/15/18

GBP

100,000

168,574

Wales & West Utilities Finance PLC 6.75% 12/17/36 (h)

GBP

150,000

255,163

Western Power Distribution PLC 5.75% 3/23/40

GBP

150,000

242,798

TOTAL UNITED KINGDOM

13,581,558

United States of America - 2.6%

Altria Group, Inc.:

8.5% 11/10/13

210,000

248,091

9.25% 8/6/19

400,000

512,792

Anheuser-Busch InBev Worldwide, Inc. 5.375% 1/15/20

340,000

366,384

Apache Corp. 5.1% 9/1/40

450,000

412,191

Bank of America Corp. 4.75% 5/6/19

EUR

250,000

319,800

Citigroup, Inc.:

4.25% 2/25/30 (h)

EUR

600,000

657,021

4.587% 12/15/15

500,000

522,112

Comcast Corp. 6.4% 3/1/40

300,000

311,286

COX Communications, Inc. 8.375% 3/1/39 (f)

200,000

256,224

Corporate Bonds - continued

 

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

Credit Suisse New York Branch:

4.375% 8/5/20

$ 600,000

$ 580,905

5% 5/15/13

400,000

428,497

DIRECTV Holdings LLC/DIRECTV Financing, Inc. 5.2% 3/15/20

400,000

413,292

Enbridge Energy Partners LP 5.2% 3/15/20

250,000

261,130

General Electric Capital Corp. 5.9% 5/13/14

160,000

177,540

General Electric Co. 5.25% 12/6/17

400,000

433,195

Glencore Funding LLC 6% 4/15/14 (Reg. S)

309,000

330,358

Goldman Sachs Group, Inc.:

4.375% 3/16/17

EUR

150,000

200,594

6% 5/1/14

150,000

166,786

6.15% 4/1/18

200,000

217,839

JPMorgan Chase & Co. 4.25% 10/15/20

1,020,000

981,666

KeyBank NA:

1.166% 11/21/11 (h)

EUR

50,000

65,837

1.22% 2/9/12 (h)

EUR

510,000

671,993

Liberty Mutual Group, Inc. 5.75% 3/15/14 (f)

250,000

264,148

Merck & Co., Inc. 5.85% 6/30/39

300,000

329,234

Metropolitan Life Global Funding I 4.625% 5/16/17

EUR

900,000

1,253,847

Morgan Stanley:

1.312% 7/20/12 (h)

EUR

430,000

580,168

3.45% 11/2/15

1,000,000

982,204

NBC Universal, Inc. 4.375% 4/1/21 (f)

500,000

483,824

Plains All American Pipeline LP/PAA Finance Corp. 8.75% 5/1/19

100,000

125,456

PPL Energy Supply LLC 6.5% 5/1/18

160,000

177,641

Roche Holdings, Inc. 6% 3/1/19 (f)

150,000

173,215

Southeast Supply Header LLC 4.85% 8/15/14 (f)

300,000

316,406

Sprint Capital Corp. 8.75% 3/15/32

325,000

338,406

Toyota Motor Credit Corp. 5.25% 2/3/12

EUR

200,000

283,131

US Bank NA 4.375% 2/28/17 (h)

EUR

450,000

601,813

TOTAL UNITED STATES OF AMERICA

14,445,026

TOTAL NONCONVERTIBLE BONDS

65,049,287

TOTAL CORPORATE BONDS

(Cost $63,594,081)

65,333,037

Government Obligations - 20.9%

 

Principal
Amount (d)

Value

Canada - 0.6%

Canadian Government:

Real Return Bond 4.25% 12/1/21

CAD

1,414,310

$ 1,859,974

5.25% 6/1/12

CAD

850,000

891,952

Ontario Province 4.4% 6/2/19

CAD

650,000

676,796

TOTAL CANADA

3,428,722

France - 0.1%

French Republic 3.75% 10/25/19

EUR

600,000

843,389

Germany - 1.3%

German Federal Republic:

2% 2/26/16

EUR

200,000

268,598

3.5% 4/12/13 (g)

EUR

200,000

285,740

4.75% 7/4/40

EUR

2,550,000

4,202,057

5.625% 1/4/28

EUR

1,460,000

2,488,951

TOTAL GERMANY

7,245,346

Italy - 2.2%

Italian Republic 3.75% 3/1/21

EUR

9,500,000

12,090,953

Japan - 11.2%

Japan Government:

0.4% 5/15/11

JPY

950,000,000

11,583,090

0.9% 6/20/13

JPY

110,000,000

1,361,746

1.1% 12/20/12

JPY

18,700,000

231,759

1.3% 3/20/15

JPY

740,000,000

9,340,967

1.3% 6/20/20

JPY

1,276,000,000

15,758,091

1.7% 12/20/16

JPY

245,000,000

3,174,553

1.7% 9/20/17

JPY

201,000,000

2,604,708

1.9% 6/20/16

JPY

469,250,000

6,132,208

1.9% 3/20/29

JPY

846,500,000

10,277,952

2% 9/20/40

JPY

141,000,000

1,677,467

TOTAL JAPAN

62,142,541

Poland - 0.2%

Polish Government 4% 3/23/21

EUR

1,100,000

1,385,428

Spain - 1.6%

Fondo de Reest Ordden Bancaria 4.5% 2/3/14

EUR

1,000,000

1,369,411

Spanish Kingdom 5.5% 4/30/21

EUR

5,300,000

7,334,424

TOTAL SPAIN

8,703,835

Government Obligations - continued

 

Principal
Amount (d)

Value

United Kingdom - 0.2%

UK Treasury GILT:

4% 3/7/22

GBP

310,000

$ 500,777

4.25% 6/7/32

GBP

70,000

109,683

4.75% 12/7/38

GBP

250,000

420,273

TOTAL UNITED KINGDOM

1,030,733

United States of America - 3.5%

Federal Home Loan Bank 3.625% 10/18/13

300,000

320,307

Freddie Mac 2.125% 9/21/12

650,000

666,687

U.S. Treasury Bonds:

3.5% 2/15/39

375,000

311,543

4.625% 2/15/40

200,000

202,188

U.S. Treasury Inflation-Indexed Bonds 2.5% 1/15/29

764,325

846,980

U.S. Treasury Notes:

0.75% 12/15/13

450,000

447,715

1.75% 7/31/15

3,550,000

3,555,006

2.375% 2/28/15

3,400,000

3,518,728

2.625% 8/15/20

1,100,000

1,037,180

2.625% 11/15/20

200,000

187,500

3.5% 5/15/20

8,250,000

8,409,885

TOTAL UNITED STATES OF AMERICA

19,503,719

TOTAL GOVERNMENT OBLIGATIONS

(Cost $108,384,633)

116,374,666

Asset-Backed Securities - 0.2%

 

Clock Finance BV Series 2007-1 Class B2, 1.255% 2/25/15 (h)

EUR

100,000

128,344

Geldilux Ltd. Series 2007-TS Class A, 1.097% 9/8/14 (h)

EUR

200,000

267,311

Tesco Property Finance 2 PLC 6.0517% 10/13/39

GBP

246,887

410,970

VCL No. 11 Ltd. Class A, 1.88% 8/21/15 (h)

EUR

100,332

137,305

Volkswagen Car Lease Series 9 Class B, 0.96% 10/21/13 (h)

EUR

53,371

72,694

TOTAL ASSET-BACKED SECURITIES

(Cost $1,023,190)

1,016,624

Collateralized Mortgage Obligations - 0.5%

 

Principal
Amount (d)

Value

Private Sponsor - 0.5%

Arkle Master Issuer PLC:

floater Series 2006-1X Class 5M1, 1.318% 2/17/52 (h)

EUR

100,000

$ 132,415

Series 2010-2X Class 1A1, 1.6844% 5/17/60 (h)

300,000

299,627

Arran Residential Mortgages Funding No. 1 PLC Series 2006-1X Class CC, 1.225% 4/12/56 (h)

EUR

86,463

116,986

Fosse Master Issuer PLC Series 2010-4 Class A2, 2.406% 10/18/54 (h)

EUR

650,000

888,342

Granite Master Issuer PLC Series 2005-1 Class A5, 0.956% 12/20/54 (h)

EUR

295,957

381,057

Holmes Master Issuer PLC Series 2010-1X Class A2, 1.7031% 10/15/54 (h)

400,000

400,301

Storm BV Series 2010-1 Class A2, 2.022% 3/22/52 (h)

EUR

500,000

678,359

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $2,822,454)

2,897,087

Commercial Mortgage Securities - 0.2%

 

France - 0.0%

FCC Proudreed Properties Class A, 1.276% 8/18/17 (h)

EUR

163,417

201,346

Ireland - 0.1%

German Residential Asset Note Distributor PLC Series 1 Class A, 1.252% 7/20/16 (h)

EUR

165,936

208,439

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 1.826% 7/22/43 (h)

EUR

100,000

89,492

United Kingdom - 0.1%

Eddystone Finance PLC Series 2006-1:

Class A2, 0.9831% 4/19/21 (h)

GBP

150,000

218,625

Class B, 1.1531% 4/19/21 (h)

GBP

100,000

141,692

London & Regional Debt Securitisation No. 1 PLC Class A, 0.9775% 10/15/14 (h)

GBP

100,000

148,953

REC Plantation Place Ltd. Series 5 Class A, 1.0031% 7/25/16 (Reg. S) (h)

GBP

96,742

142,029

TOTAL UNITED KINGDOM

651,299

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,251,638)

1,150,576

Supranational Obligations - 0.0%

 

Principal
Amount

Value

Eurasian Development Bank 7.375% 9/29/14 (Reg. S)
(Cost $200,000)

$ 200,000

$ 216,500

Fixed-Income Funds - 1.4%

Shares

 

Fidelity High Income Central Fund 1 (i)
(Cost $7,422,065)

79,449

7,863,114

Preferred Securities - 0.0%

Principal
Amount

 

Germany - 0.0%

BayernLB Capital Trust I 6.2032% (h)
(Cost $320,701)

$ 400,000

204,655

Equity Central Funds - 3.2%

Shares

 

Fidelity Emerging Markets Equity Central Fund (i)
(Cost $11,905,361)

80,100

17,646,030

Money Market Funds - 2.6%

 

 

 

 

Fidelity Cash Central Fund, 0.19% (b)

13,734,947

13,734,947

Fidelity Securities Lending Cash Central Fund, 0.21% (b)(c)

558,600

558,600

TOTAL MONEY MARKET FUNDS

(Cost $14,293,547)

14,293,547

TOTAL INVESTMENT PORTFOLIO - 99.9%

(Cost $480,335,060)

555,047,111

NET OTHER ASSETS (LIABILITIES) - 0.1%

676,363

NET ASSETS - 100%

$ 555,723,474

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Affiliated fund that is 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.

(c) Investment made with cash collateral received from securities on loan.

(d) Principal amount is stated in United States dollars unless otherwise noted.

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

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,061,978 or 0.4% of net assets.

(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(h) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(i) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-Q and is available upon request or at the SEC's web site at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com. In addition, each Fidelity Central Fund's financial statements are available on the SEC's web site or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 6,742

Fidelity Emerging Markets Equity Central Fund

39,527

Fidelity High Income Central Fund 1

174,521

Fidelity Securities Lending Cash Central Fund

4,044

Total

$ 224,834

Additional information regarding the Fund's fiscal year to date purchases and sales, including the ownership percentage, of the non Money Market Central Funds is as follows:

Fund

Value,
beginning of
period

Purchases

Sales
Proceeds

Value,
end of
period

% ownership,
end of
period

Fidelity Emerging Markets Equity Central Fund

$ 16,045,500

$ 2,055,144

$ 910,800

$ 17,646,030

3.8%

Fidelity High Income Central Fund 1

10,635,391

174,521

3,006,070

7,863,114

1.2%

Total

$ 26,680,891

$ 2,229,665

$ 3,916,870

$ 25,509,144

Other Information

The following is a summary of the inputs used, as of January 31, 2011, 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 in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

United States of America

$ 145,654,012

$ 145,654,012

$ -

$ -

Japan

37,779,460

29,856,693

7,922,767

-

United Kingdom

25,451,741

19,205,689

6,246,052

-

Canada

24,535,776

24,535,776

-

-

France

11,961,763

11,961,763

-

-

Australia

11,040,766

9,321,993

1,718,773

-

Switzerland

9,532,485

8,216,080

1,316,405

-

Germany

9,056,112

9,056,112

-

-

Spain

7,138,732

3,076,696

4,062,036

-

Other

45,900,428

37,015,359

8,885,069

-

Corporate Bonds

65,333,037

-

65,333,037

-

Government Obligations

116,374,666

-

116,374,666

-

Asset-Backed Securities

1,016,624

-

1,016,624

-

Collateralized Mortgage Obligations

2,897,087

-

2,897,087

-

Commercial Mortgage Securities

1,150,576

-

1,150,576

-

Supranational Obligations

216,500

-

216,500

-

Fixed-Income Funds

7,863,114

7,863,114

-

-

Preferred Securities

204,655

-

204,655

-

Equity Central Funds

17,646,030

17,646,030

-

-

Money Market Funds

14,293,547

14,293,547

-

-

Total Investments in Securities:

$ 555,047,111

$ 337,702,864

$ 217,344,247

$ -

Income Tax Information

At January 31, 2011, the cost of investment securities for income tax purposes was $481,161,288. Net unrealized appreciation aggregated $73,885,823, of which $79,113,408 related to appreciated investment securities and $5,227,585 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels. Level 1 - 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. 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 an independent 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 significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, foreign government and government agency obligations, preferred securities, supranational obligations and U.S. government and government agency obligations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy. For asset backed securities, collateralized mortgage obligations and commercial mortgage securities, pricing services utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and, accordingly, such securities are generally categorized as Level 2 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates fair value and are categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Charles Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

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.

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 Charles Street Trust

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

April 1, 2011

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.

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

April 1, 2011

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

April 1, 2011