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 811-3855

Fidelity Advisor Series VIII
(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:	July 31, 2009

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Advisor Diversified
International Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804845.105

ADIF-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares		Value (000s)
Australia - 2.1%
BHP Billiton Ltd. sponsored ADR (c)	851,000		$ 53,579
Newcrest Mining Ltd.	450,000		11,290
QBE Insurance Group Ltd.	1,084,319		17,683
Rio Tinto Ltd.	378,794		19,134
TOTAL AUSTRALIA			101,686
Belgium - 1.2%
Anheuser-Busch InBev SA NV	1,457,200		57,976
Bermuda - 0.5%
Huabao International Holdings Ltd.	3,500,000		3,654
Seadrill Ltd.	1,425,000		22,867
TOTAL BERMUDA			26,521
Brazil - 1.9%
Banco Bradesco SA (PN) sponsored ADR	340,000		5,362
BM&F BOVESPA SA	3,961,469		25,561
BR Malls Participacoes SA (a)	750,000		7,797
Itau Unibanco Banco Multiplo SA ADR	602,035		10,770
Medial Saude SA (a)	1,952,000		8,839
Petroleo Brasileiro SA - Petrobras sponsored ADR	360,000		14,846
Redecard SA	449,200		6,685
Vivo Participacoes SA sponsored ADR	579,700		13,200
TOTAL BRAZIL			93,060
Canada - 5.6%
Agnico-Eagle Mines Ltd. (Canada)	188,800		11,074
Barrick Gold Corp.	239,200		8,353
Canadian Imperial Bank of Commerce	100,000		6,155
Canadian Natural Resources Ltd.	842,800		50,661
EnCana Corp.	356,808		19,136
Niko Resources Ltd.	320,000		22,544
Open Text Corp. (a)	233,200		8,838
OZ Optics Ltd. unit (a)(e)	5,400		25
Petro-Canada	1,000,000		41,296
Petrobank Energy & Resources Ltd. (a)	834,000		25,376
Research In Motion Ltd. (a)	380,000		28,880
Royal Bank of Canada	125,000		5,950
Silver Wheaton Corp. (a)	828,100		7,633
Sun Life Financial, Inc.	200,000		6,835
Suncor Energy, Inc.	500,000		16,169
Common Stocks - continued
	Shares		Value (000s)
Canada - continued
Toronto-Dominion Bank	100,000		$ 5,858
Yamana Gold, Inc.	665,500		6,344
TOTAL CANADA			271,127
Cayman Islands - 0.6%
Belle International Holdings Ltd.	10,000,000		10,129
China Dongxiang Group Co. Ltd.	19,675,000		14,953
Hengan International Group Co. Ltd.	440,000		2,561
TOTAL CAYMAN ISLANDS			27,643
China - 0.6%
Baidu.com, Inc. sponsored ADR (a)	25,000		8,704
China Merchants Bank Co. Ltd. (H Shares)	2,254,000		5,299
Parkson Retail Group Ltd.	5,000,000		8,349
Shandong Weigao Group Medical Polymer Co. Ltd. (H Shares)	2,500,000		6,549
TOTAL CHINA			28,901
Denmark - 0.9%
Carlsberg AS Series B	160,000		11,101
Novo Nordisk AS Series B	525,000		30,898
TOTAL DENMARK			41,999
Finland - 0.5%
Nokia Corp. sponsored ADR	1,200,000		16,008
Nokian Tyres PLC	490,600		10,363
TOTAL FINLAND			26,371
France - 8.7%
Accor SA	295,196		12,601
Alstom SA	217,100		14,905
Atos Origin SA	92,146		4,201
AXA SA	2,200,000		46,437
BNP Paribas SA	715,064		52,129
Cap Gemini SA	503,000		23,224
Credit Agricole SA	166,600		2,378
Danone	512,617		27,504
Essilor International SA	205,100		11,371
GDF Suez	483,336		18,465
LVMH Moet Hennessy - Louis Vuitton	125,800		11,348
Pernod Ricard SA (c)	280,028		21,759
PPR SA	298,400		33,254
Sanofi-Aventis sponsored ADR	1,267,882		41,384
Schneider Electric SA	201,446		18,300
Common Stocks - continued
	Shares		Value (000s)
France - continued
Societe Generale Series A	536,371		$ 34,439
Total SA sponsored ADR	750,000		41,738
Unibail-Rodamco	29,300		5,120
Vallourec SA	38,799		5,104
TOTAL FRANCE			425,661
Germany - 5.5%
Allianz AG sponsored ADR	1,603,270		15,888
BASF AG	495,900		24,850
Bayer AG	170,472		10,462
Bayerische Motoren Werke AG (BMW)	275,000		12,711
Daimler AG (Reg.)	250,000		11,612
Deutsche Boerse AG	323,400		25,627
E.ON AG sponsored ADR	1,398,000		52,802
Fresenius Medical Care AG & Co. KGaA	363,400		16,688
Fresenius SE	300,000		14,751
GFK AG	126,556		2,922
Linde AG	57,056		5,385
Munich Re Group (Reg.)	172,200		26,037
SAP AG sponsored ADR	335,700		15,862
Siemens AG (Reg.)	409,180		32,521
TOTAL GERMANY			268,118
Hong Kong - 1.9%
CNOOC Ltd. sponsored ADR (c)	127,100		16,946
Hang Lung Properties Ltd.	4,914,000		18,008
Hong Kong Exchange & Clearing Ltd.	1,413,400		26,664
Hutchison Whampoa Ltd.	2,713,000		20,322
Li & Fung Ltd.	3,802,000		11,210
TOTAL HONG KONG			93,150
India - 1.0%
Bharti Airtel Ltd.	1,120,858		9,611
HDFC Bank Ltd.	340,000		10,657
Pantaloon Retail India Ltd.	500,000		3,412
State Bank of India	703,242		26,639
TOTAL INDIA			50,319
Ireland - 1.1%
Covidien PLC	357,700		13,525
Common Stocks - continued
	Shares		Value (000s)
Ireland - continued
CRH PLC	974,737		$ 23,270
Ryanair Holdings PLC sponsored ADR (a)	533,200		15,095
TOTAL IRELAND			51,890
Israel - 0.2%
Teva Pharmaceutical Industries Ltd. sponsored ADR	193,300		10,311
Italy - 3.0%
ENI SpA	2,157,000		50,400
Fiat SpA (a)	4,024,400		44,624
Intesa Sanpaolo SpA	7,705,100		28,690
UniCredit SpA	8,116,398		23,772
TOTAL ITALY			147,486
Japan - 19.0%
Canon, Inc.	1,189,200		44,086
Daiichi Sankyo Kabushiki Kaisha	350,000		6,363
Denso Corp.	975,900		28,830
East Japan Railway Co.	226,400		12,994
Eisai Co. Ltd.	330,000		11,755
FamilyMart Co. Ltd.	259,000		8,432
Fanuc Ltd.	171,700		14,101
Fast Retailing Co. Ltd.	207,400		26,942
Fuji Machine Manufacturing Co. Ltd.	816,200		10,137
Honda Motor Co. Ltd. sponsored ADR	1,000,000		32,130
Hoya Corp.	200,000		4,830
Ibiden Co. Ltd.	647,600		21,562
Inpex Corp.	721		5,517
Japan Tobacco, Inc.	3,740		10,831
JTEKT Corp.	1,156,800		13,095
Jupiter Telecommunications Co.	10,416		8,752
Kao Corp.	497,000		11,268
KDDI Corp.	3,099		16,443
Keyence Corp.	53,900		10,648
Miraca Holdings, Inc.	468,800		11,719
Mitsubishi Corp.	1,650,500		32,972
Mitsubishi UFJ Financial Group, Inc.	13,220,500		80,753
Mitsui & Co. Ltd.	2,732,200		34,279
Murata Manufacturing Co. Ltd.	203,000		9,956
NGK Insulators Ltd.	261,000		5,917
Nikon Corp.	1,581,400		31,792
Nintendo Co. Ltd.	43,200		11,609
Nippon Electric Glass Co. Ltd.	1,417,000		16,445
Common Stocks - continued
	Shares		Value (000s)
Japan - continued
Nippon Telegraph & Telephone Corp.	307,800		$ 12,708
Nitori Co. Ltd.	108,250		7,757
Nomura Holdings, Inc.	3,982,500		34,898
NSK Ltd.	1,000,000		5,422
NTT DoCoMo, Inc.	8,406		12,142
OMC Card, Inc. (a)(c)	4,274,700		8,223
ORIX Corp.	314,140		19,889
Promise Co. Ltd.	540,000		5,691
Rakuten, Inc.	22,242		14,294
Ricoh Co. Ltd.	1,289,000		16,921
Seven & i Holdings Co., Ltd.	795,000		18,654
Softbank Corp.	951,700		20,269
Sony Corp. sponsored ADR	325,000		9,087
Sumitomo Corp.	1,939,200		19,205
Sumitomo Electric Industries Ltd.	1,180,800		14,715
Sumitomo Mitsui Financial Group, Inc.	1,025,000		43,877
THK Co. Ltd.	672,700		11,049
Tokai Carbon Co. Ltd.	2,559,000		13,713
Tokyo Electron Ltd.	273,600		14,344
Toyota Motor Corp.	1,590,900		66,786
USS Co. Ltd.	90,000		5,632
Yahoo! Japan Corp. (c)	44,894		14,734
TOTAL JAPAN			924,168
Korea (South) - 0.1%
Lotte Shopping Co. Ltd.	10,534		2,649
Luxembourg - 0.5%
ArcelorMittal SA (NY Shares) Class A	300,000		10,812
SES SA FDR (France) unit	735,545		14,530
TOTAL LUXEMBOURG			25,342
Netherlands - 2.1%
Akzo Nobel NV (c)	301,100		16,520
ASML Holding NV (NY Shares)	660,000		17,167
Gemalto NV (a)	280,100		10,459
Koninklijke Ahold NV	844,900		9,608
Koninklijke KPN NV	2,489,200		37,411
Koninklijke Philips Electronics NV (NY Shares)	167,900		3,821
Royal DSM NV	209,800		7,499
TOTAL NETHERLANDS			102,485
Common Stocks - continued
	Shares		Value (000s)
Netherlands Antilles - 0.4%
Schlumberger Ltd.	399,600		$ 21,379
Norway - 0.7%
DnB Nor ASA (a)	1,624,400		14,130
Telenor ASA (a)	2,100,000		19,363
TOTAL NORWAY			33,493
Papua New Guinea - 0.5%
Lihir Gold Ltd. (a)	10,500,000		24,324
Singapore - 0.5%
CapitaMall Trust	7,307,400		8,022
Singapore Exchange Ltd.	2,623,000		15,893
TOTAL SINGAPORE			23,915
South Africa - 1.2%
Aspen Pharmacare Holdings Ltd.	2,500,448		19,172
Impala Platinum Holdings Ltd.	819,900		19,863
MTN Group Ltd.	1,263,700		20,845
TOTAL SOUTH AFRICA			59,880
Spain - 5.1%
Banco Santander SA sponsored ADR	2,325,000		33,620
Enagas SA	750,600		14,843
Grupo Acciona SA	113,100		13,661
Iberdrola SA	3,715,100		31,876
Inditex SA	422,400		22,720
Red Electrica Corporacion SA	300,900		14,139
Telefonica SA sponsored ADR	1,423,500		106,250
Telvent GIT SA	400,000		9,560
TOTAL SPAIN			246,669
Sweden - 1.0%
H&M Hennes & Mauritz AB (B Shares)	530,100		31,510
Telefonaktiebolaget LM Ericsson (B Shares)	2,000,000		19,687
TOTAL SWEDEN			51,197
Switzerland - 8.8%
Actelion Ltd. (Reg.) (a)	421,256		23,238
Adecco SA (Reg.)	240,170		11,574
Basilea Pharmaceutica AG (a)	40,012		3,576
Credit Suisse Group (Reg.)	200,000		9,451
Julius Baer Holding Ltd.	170,295		8,111
Kuehne & Nagel International AG	210,219		17,508
Common Stocks - continued
	Shares		Value (000s)
Switzerland - continued
Lonza Group AG	76,933		$ 7,624
Nestle SA (Reg.)	2,917,206		120,056
Nobel Biocare Holding AG (Switzerland)	749,960		17,811
Novartis AG sponsored ADR	250,000		11,405
Roche Holding AG (participation certificate)	501,668		79,101
Sonova Holding AG	153,505		13,538
Transocean Ltd. (a)	299,400		23,859
UBS AG (NY Shares) (a)	2,472,100		36,439
Zurich Financial Services AG (Reg.)	228,465		44,896
TOTAL SWITZERLAND			428,187
Taiwan - 1.0%
Advanced Semiconductor Engineering, Inc.	29,487,572		20,850
Siliconware Precision Industries Co. Ltd. sponsored ADR	1,628,946		11,044
Taiwan Semiconductor Manufacturing Co. Ltd.	10,630,502		19,084
TOTAL TAIWAN			50,978
United Kingdom - 16.6%
Aegis Group PLC	6,551,001		9,029
AstraZeneca PLC (United Kingdom)	825,000		38,433
Barclays PLC	6,285,100		31,952
BG Group PLC	1,655,000		27,622
BHP Billiton PLC	1,236,600		32,291
BP PLC	5,000,000		41,470
British Land Co. PLC	1,052,100		7,646
Burberry Group PLC	1,531,400		11,769
Capita Group PLC	2,033,600		22,679
Carphone Warehouse Group PLC	1,658,669		4,974
easyJet PLC (a)	3,066,700		15,486
Experian PLC	2,693,000		22,226
HSBC Holdings PLC:
(Hong Kong) (Reg.)	2,416,168		24,208
sponsored ADR	1,370,000		69,459
Imperial Tobacco Group PLC	791,600		22,628
Informa PLC	2,287,880		9,164
International Power PLC	2,221,600		9,474
Intertek Group PLC	807,200		14,012
Kingfisher PLC	2,559,800		9,099
Man Group PLC	6,379,600		29,497
Misys PLC	4,876,900		14,768
Mothercare PLC	400,000		3,542
National Grid PLC	1,533,700		14,311
Common Stocks - continued
	Shares		Value (000s)
United Kingdom - continued
NEXT PLC	325,000		$ 9,258
Prudential PLC	2,414,400		18,081
Reckitt Benckiser Group PLC	1,372,000		65,924
Rio Tinto PLC (Reg.)	553,000		23,035
Royal Dutch Shell PLC Class B	1,352,916		35,087
Standard Chartered PLC (United Kingdom)	1,759,100		41,762
Tesco PLC	5,455,100		33,493
Vodafone Group PLC sponsored ADR	3,660,000		75,323
Wolseley PLC (a)	368,000		8,232
Xstrata PLC	1,000,000		13,503
TOTAL UNITED KINGDOM			809,437
United States of America - 6.1%
Allergan, Inc.	393,400		21,019
AMETEK, Inc.	300,000		9,708
C.R. Bard, Inc.	145,700		10,719
CME Group, Inc.	31,300		8,727
Coach, Inc.	346,100		10,241
Cummins, Inc.	266,800		11,475
Danaher Corp.	165,000		10,105
Express Scripts, Inc. (a)	187,200		13,111
Freeport-McMoRan Copper & Gold, Inc.	196,800		11,867
Goldman Sachs Group, Inc.	113,800		18,584
Google, Inc. Class A (a)	38,100		16,880
JPMorgan Chase & Co.	441,200		17,052
Medco Health Solutions, Inc. (a)	287,300		15,187
Morgan Stanley	908,000		25,878
Nabors Industries Ltd. (a)	200,000		3,404
Newmont Mining Corp.	225,000		9,304
Pfizer, Inc.	1,111,300		17,703
Philip Morris International, Inc.	267,200		12,452
Sohu.com, Inc. (a)	215,200		13,164
State Street Corp.	214,100		10,769
Visa, Inc. Class A	210,800		13,799
Wells Fargo & Co.	610,200		14,925
TOTAL UNITED STATES OF AMERICA			296,073
TOTAL COMMON STOCKS (Cost $4,229,728)		4,822,395
Preferred Stocks - 0.1%
	Shares		Value (000s)
Convertible Preferred Stocks - 0.0%
Canada - 0.0%
MetroPhotonics, Inc. Series 2 (a)(e)	8,500		$ 0*
Nonconvertible Preferred Stocks - 0.1%
Germany - 0.1%
Bayerische Motoren Werke AG (BMW) (non-vtg.)	150,500		4,419
TOTAL PREFERRED STOCKS (Cost $2,701)		4,419
Money Market Funds - 1.5%

Fidelity Cash Central Fund, 0.37% (d)	1,600,607		1,601
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(d)	72,769,807		72,770
TOTAL MONEY MARKET FUNDS (Cost $74,371)		74,371
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $4,306,800)			4,901,185
NET OTHER ASSETS - (0.5)%			(26,343)
NET ASSETS - 100%		$ 4,874,842

Legend

(a) Non-income producing

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

(d) 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.

(e) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $25,000 or 0.0% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
MetroPhotonics, Inc. Series 2	9/29/00	$ 85
OZ Optics Ltd. unit	8/18/00	$ 80

* Amount represents less than $1,000.

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 288
Fidelity Securities Lending Cash Central Fund	3,695
Total	$ 3,983

Other Affiliated Issuers

An affiliated company is a company in which the fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliates (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Arealink Co. Ltd.	$ 2,760	$ -	$ 967	$ -	$ -
Sinfonia Technology Co. Ltd.	21,759	-	19,095	-	-
Total	$ 24,519	$ -	$ 20,062	$ -	$ -

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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 tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Japan	$ 924,168	$ 661,187	$ 262,981	$ -
United Kingdom	809,437	615,253	194,184	-
Switzerland	428,187	418,736	9,451	-
France	425,661	379,223	46,438	-
United States of America	296,073	296,073	-	-
Germany	272,537	228,404	44,133	-
Canada	271,127	271,102	-	25
Spain	246,669	246,669	-	-
Italy	147,486	97,086	50,400	-
Other	1,005,469	961,519	43,950	-
Money Market Funds	74,371	74,371	-	-
Total Investments in Securities:	$ 4,901,185	$ 4,249,623	$ 651,537	$ 25

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:
(Amounts in thousands)
Investments in Securities:
Beginning Balance	$ 6,884
Total Realized Gain (Loss)	(31,949)
Total Unrealized Gain (Loss)	27,509
Cost of Purchases	-
Proceeds of Sales	(2,419)
Amortization/Accretion	-
Transfer in/out of Level 3	-
Ending Balance	$ 25
The change in unrealized gain (loss) attributable to Level 3 securities at July 31, 2009	$ (40)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations.

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $4,371,375,000. Net unrealized appreciation aggregated $529,810,000, of which $958,504,000 related to appreciated investment securities and $428,694,000 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. Generally Accepted Accounting Principles (GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are classified into three levels. Level 1 includes readily available unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 includes observable inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. Level 3 includes unobservable inputs when market prices are not readily available or reliable. Changes in valuation techniques may result in transfers in or out of an investment's assigned level within the hierarchy. Valuation techniques of the Fund's major categories of assets and liabilities are as follows.

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. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for net asset value calculation under these procedures may differ from published prices for the same securities.

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 ® Advisor
Emerging Asia Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804857.105

AEA-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.1%
	Shares		Value
Australia - 0.9%
BHP Billiton Ltd.	23,100		$ 728,854
Incitec Pivot Ltd.	359,500		829,794
Macquarie Group Ltd.	11,123		409,481
Seek Ltd.	68,321		243,403
TOTAL AUSTRALIA			2,211,532
Bermuda - 3.3%
Aquarius Platinum Ltd. (Australia) (d)	300,993		1,251,051
G-Resources Group Ltd. (a)	15,378,000		1,269,950
GOME Electrical Appliances Holdings Ltd.	3,224,160		931,904
Hopson Development Holdings Ltd.	1,384,000		2,221,586
Orient Overseas International Ltd.	242,000		1,355,226
Vtech Holdings Ltd.	182,000		1,297,509
TOTAL BERMUDA			8,327,226
Cayman Islands - 6.3%
Hutchison China Meditech Ltd. (a)	3		4
Kingboard Chemical Holdings Ltd.	448,500		1,423,653
KWG Property Holding Ltd.	2,646,500		2,018,209
New World China Land Ltd.	2,085,600		1,315,972
New World Department Store China Ltd.	2,090,000		1,820,358
Pacific Textile Holdings Ltd.	4,272,000		1,532,437
Shimao Property Holdings Ltd.	1,303,500		2,620,506
Silver Base Group Holdings Ltd.	2,364,000		976,122
SOHO China Ltd.	868,000		552,171
Stella International Holdings Ltd.	1,458,500		2,412,688
TCC International Holdings Ltd. (a)	836,000		401,288
Xingda International Holdings Ltd.	2,254,000		837,632
TOTAL CAYMAN ISLANDS			15,911,040
China - 17.7%
Air China Ltd. (H Shares) (a)	1,612,000		1,040,020
Anhui Conch Cement Co. Ltd. (H Shares)	296,000		2,142,700
Bank of China (H Shares)	8,458,000		4,212,711
BBMG Corp. Class H	24,000		31,278
China Coal Energy Co. Ltd. (H Shares)	1,535,000		2,151,022
China Construction Bank Corp. (H Shares)	3,458,000		2,788,764
China Cosco Holdings Co. Ltd. (H Shares)	1,469,500		2,123,706
China International Marine Containers Co. Ltd. (B Shares)	846,140		1,005,561
China Life Insurance Co. Ltd. (H Shares)	1,184,000		5,243,628
China Resources Land Ltd.	246,000		601,204
China Shenhua Energy Co. Ltd. (H Shares)	142,000		579,921
China Shipping Development Co. Ltd. (H Shares)	390,000		590,799
Common Stocks - continued
	Shares		Value
China - continued
Dongfang Electric Corp. Ltd.	93,600		$ 458,347
Dongfeng Motor Group Co. Ltd. (H Shares)	786,000		837,740
Guangzhou R&F Properties Co. Ltd. (H Shares)	461,600		1,017,327
Industrial & Commercial Bank of China Ltd.	2,915,000		2,098,841
Li Ning Co. Ltd.	491,000		1,625,083
Maanshan Iron & Steel Co. Ltd. (H Shares)	1,310,000		1,019,284
PetroChina Co. Ltd. (H Shares)	2,200,000		2,591,993
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	216,500		1,921,999
Shanghai Zhenhua Port Machinery Co. Ltd. (B Shares)	1,012,700		1,013,713
Tencent Holdings Ltd.	418,400		5,647,160
Weiqiao Textile Co. Ltd. (H Shares)	1,988,000		1,254,388
Yantai Changyu Pioneer Wine Co. (B Shares)	265,740		1,713,799
Zhejiang Expressway Co. Ltd. (H Shares)	1,352,000		1,310,157
TOTAL CHINA			45,021,145
Hong Kong - 15.7%
ASM Pacific Technology Ltd.	248,400		1,685,947
BOC Hong Kong Holdings Ltd.	1,081,500		2,305,384
Cathay Pacific Airways Ltd.	566,000		880,786
Cheung Kong Holdings Ltd.	234,000		3,022,433
China Mobile (Hong Kong) Ltd.	471,000		4,942,554
Chow Sang Sang Holdings International Ltd.	1,106,000		967,590
CNOOC Ltd.	2,913,500		3,876,585
CNPC (Hong Kong) Ltd.	1,550,000		1,570,030
Denway Motors Ltd.	722,000		358,678
Henderson Land Development Co. Ltd.	222,000		1,466,661
Hong Kong Exchange & Clearing Ltd.	211,600		3,991,809
Hutchison Whampoa Ltd.	279,000		2,089,840
Midland Holdings Ltd.	1,660,000		1,330,168
New World Development Co. Ltd.	862,000		2,057,717
Sa Sa International Holdings Ltd.	1,344,000		627,790
Shun Tak Holdings Ltd.	1,836,000		1,504,365
Sino Land Co.	554,000		1,130,897
Sino-Ocean Land Holdings Ltd.	638,034		681,680
Sinotruk Hong Kong Ltd.	150,000		174,197
Sun Hung Kai Properties Ltd.	205,000		3,118,706
Techtronic Industries Co. Ltd.	1,963,000		1,628,688
Texwinca Holdings Ltd.	698,000		546,702
TOTAL HONG KONG			39,959,207
India - 9.0%
Bajaj Auto Ltd.	67,850		1,733,314
Common Stocks - continued
	Shares		Value
India - continued
Bharat Heavy Electricals Ltd.	31,032		$ 1,447,165
DLF Ltd.	349,576		2,896,017
HDFC Bank Ltd.	53,370		1,672,911
Housing Development and Infrastructure Ltd.	90,446		523,764
Housing Development Finance Corp. Ltd.	43,347		2,298,592
ICICI Bank Ltd.	63,500		1,007,104
Infosys Technologies Ltd.	73,052		3,153,265
Jindal Saw Ltd.	105,016		1,095,883
LIC Housing Finance Ltd.	106,734		1,374,207
Reliance Industries Ltd. (a)	75,756		3,097,403
Tata Steel Ltd.	176,587		1,707,162
Titan Industries Ltd.	36,444		932,761
TOTAL INDIA			22,939,548
Indonesia - 3.4%
PT Astra International Tbk	1,219,000		3,598,672
PT Bank Rakyat Indonesia Tbk	2,949,000		2,169,045
PT Bumi Resources Tbk	10,218,500		2,882,811
TOTAL INDONESIA			8,650,528
Korea (South) - 17.3%
Daelim Industrial Co.	32,330		1,798,021
Hynix Semiconductor, Inc. (a)	93,742		1,349,357
Hyundai Department Store Co. Ltd.	14,941		1,234,187
Hyundai Engineering & Construction Co. Ltd.	43,136		2,233,179
Hyundai Industrial Development & Construction Co.	51,870		1,843,258
Hyundai Steel Co.	24,680		1,449,271
KB Financial Group, Inc. (a)	83,610		3,631,055
KB Financial Group, Inc. rights 8/27/09 (a)	6,495		84,195
Korean Reinsurance Co.	93,810		901,503
LG Electronics, Inc.	23,037		2,439,921
NHN Corp. (a)	20,164		2,943,709
POSCO	8,646		3,549,760
Samsung C&T Corp.	47,950		1,821,606
Samsung Electronics Co. Ltd.	19,687		11,657,303
Samsung Securities Co. Ltd.	28,570		1,794,533
Shinhan Financial Group Co. Ltd. (a)	104,719		3,538,715
Tong Yang Securities, Inc.	143,840		1,846,968
TOTAL KOREA (SOUTH)			44,116,541
Malaysia - 1.1%
KNM Group Bhd	3,954,000		982,186
Common Stocks - continued
	Shares		Value
Malaysia - continued
Parkson Holdings Bhd	892,500		$ 1,368,204
Public Bank Bhd (For. Reg.)	149,900		442,572
TOTAL MALAYSIA			2,792,962
Singapore - 4.6%
City Developments Ltd.	173,000		1,218,885
DBS Group Holdings Ltd.	180,500		1,740,787
Oversea-Chinese Banking Corp. Ltd.	140,000		760,700
Singapore Airlines Ltd.	145,000		1,360,131
Singapore Exchange Ltd.	392,000		2,375,097
United Overseas Bank Ltd.	121,000		1,486,437
Wing Tai Holdings Ltd.	2,281,000		2,741,891
TOTAL SINGAPORE			11,683,928
Taiwan - 14.4%
Ability Enterprise Co. Ltd.	773,530		1,242,458
Acer, Inc.	462,580		975,634
AU Optronics Corp.	1,761,000		1,953,685
Cathay Financial Holding Co. Ltd.	581,000		892,484
Cathay Real Estate Development Co. Ltd.	2,627,000		1,120,939
China Steel Corp.	1,343,384		1,297,936
Chinatrust Financial Holding Co. Ltd.	2,853,576		1,804,685
Coretronic Corp.	1,072,000		1,272,612
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,415,822		4,876,193
HTC Corp.	54,000		736,513
Hung Poo Real Estate Development Co. Ltd.	209,420		268,078
MediaTek, Inc.	137,274		1,972,712
Prime View International Co. Ltd.	735,000		918,470
Quanta Computer, Inc.	964,550		1,825,619
Siliconware Precision Industries Co. Ltd.	1,514,000		2,034,971
Taiflex Scientific Co. Ltd.	1,366,000		1,802,737
Taiwan Fertilizer Co. Ltd.	404,000		1,280,585
Taiwan Semiconductor Manufacturing Co. Ltd.	3,258,393		5,849,416
Unimicron Technology Corp.	1,781,000		2,019,299
Yuanta Financial Holding Co. Ltd.	3,402,000		2,447,034
TOTAL TAIWAN			36,592,060
Thailand - 2.7%
Asian Property Development PCL (For. Reg.)	8,756,200		1,260,810
Bangkok Bank Ltd. PCL (For. Reg.)	369,800		1,222,524
Minor International PCL (For. Reg.)	2,804,569		696,403
Quality Houses PCL	22,123,200		1,079,180
Common Stocks - continued
	Shares		Value
Thailand - continued
Siam Commercial Bank PCL (For. Reg.)	964,800		$ 2,190,150
Supalai PCL (For. Reg.)	4,263,200		496,100
TOTAL THAILAND			6,945,167
United Kingdom - 0.4%
HSBC Holdings PLC (Hong Kong) (Reg.)	106,565		1,067,708
United States of America - 0.3%
Sohu.com, Inc. (a)	14,200		868,614
TOTAL COMMON STOCKS (Cost $185,638,070)		247,087,206
Money Market Funds - 3.5%

Fidelity Cash Central Fund, 0.37% (b)	8,740,275		8,740,275
Fidelity Securities Lending Cash Central Fund, 0.22% (b),(c)	152,250		152,250
TOTAL MONEY MARKET FUNDS (Cost $8,892,525)		8,892,525
TOTAL INVESTMENT PORTFOLIO - 100.6% (Cost $194,530,595)			255,979,731
NET OTHER ASSETS - (0.6)%			(1,566,204)
NET ASSETS - 100%		$ 254,413,527

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.

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

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	$ 47,680
Fidelity Securities Lending Cash Central Fund	1,589
Total	$ 49,269

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
China	$ 45,021,145	$ 37,185,524	$ 7,835,621	$ -
Korea (South)	44,116,541	40,493,631	3,622,910	-
Hong Kong	39,959,207	31,140,068	8,819,139	-
Taiwan	36,592,060	36,592,060	-	-
India	22,939,548	21,843,665	1,095,883	-
Cayman Islands	15,911,040	15,911,040	-	-
Singapore	11,683,928	11,683,928	-	-
Indonesia	8,650,528	8,650,528	-	-
Bermuda	8,327,226	8,327,226	-	-
Other	13,885,983	12,089,421	1,796,562	-
Money Market Funds	8,892,525	8,892,525	-	-
Total Investments in Securities:	$ 255,979,731	$ 232,809,616	$ 23,170,115	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $195,166,663. Net unrealized appreciation aggregated $60,813,068, of which $67,388,936 related to appreciated investment securities and $6,575,868 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor
Emerging Markets Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804858.105

FAEM-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.5%
	Shares		Value
Australia - 0.2%
Sino Gold Mining Ltd. (a)	224,337		$ 992,473
Austria - 0.4%
Erste Bank AG	50,300		1,755,690
Bermuda - 1.3%
Aquarius Platinum Ltd.:
(Australia)	241,387		1,003,304
(United Kingdom)	225,111		977,842
Credicorp Ltd. (NY Shares)	24,500		1,634,150
Huabao International Holdings Ltd.	625,000		652,432
Ports Design Ltd.	591,000		1,523,666
TOTAL BERMUDA			5,791,394
Brazil - 13.6%
Banco ABC Brasil SA	154,300		652,426
Banco Bradesco SA:
(PN)	113,600		1,783,143
(PN) sponsored ADR	224,800		3,545,096
BM&F BOVESPA SA	421,000		2,716,420
Brasil Foods SA	41,500		911,844
Companhia de Saneamento de Minas Gerais (a)	2,220		30,326
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	1,225		17,493
Companhia Siderurgica Nacional SA (CSN) sponsored ADR	153,100		3,919,360
Gerdau SA sponsored ADR	251,000		2,929,170
GVT Holding SA (a)	121,200		2,345,408
Localiza Rent A Car SA	149,300		1,200,161
MRV Engenharia e Participacoes SA	118,800		2,021,383
Net Servicos de Comunicacao SA sponsored ADR	195,766		1,988,983
OGX Petroleo e Gas Participacoes SA	3,900		2,487,138
PDG Realty S.A. Empreendimentos e Participacoes	89,200		1,266,774
Petroleo Brasileiro SA - Petrobras:
(PN) (non-vtg.)	540,400		9,105,132
(PN) sponsored ADR (non-vtg.)	268,600		9,051,820
sponsored ADR	27,800		1,146,472
Tele Norte Leste Participacoes SA sponsored ADR (non-vtg.)	151,800		2,336,202
Vale SA (PN-A) sponsored ADR	638,900		10,989,080
Votorantim Celulose e Papel SA sponsored ADR (non-vtg.) (a)(c)	163,007		2,435,325
TOTAL BRAZIL			62,879,156
Canada - 1.6%
Addax Petroleum, Inc.	46,300		2,202,511
Common Stocks - continued
	Shares		Value
Canada - continued
Eldorado Gold Corp. (a)	86,900		$ 873,557
First Quantum Minerals Ltd.	24,200		1,611,686
Sherritt International Corp.	126,200		718,064
Sino-Forest Corp. (a)	68,200		930,561
Uranium One, Inc. (a)	318,900		852,492
TOTAL CANADA			7,188,871
Cayman Islands - 2.5%
Anta Sports Products Ltd.	745,000		1,117,041
China Dongxiang Group Co. Ltd.	2,482,000		1,886,357
China High Speed Transmission Equipment Group Co. Ltd.	593,000		1,485,972
China Shanshui Cement Group Ltd.	920,000		598,308
Eurasia Drilling Co. Ltd. GDR (Reg. S)	109,000		1,362,500
Geely Automobile Holdings Ltd.	4,390,000		1,070,614
Hidili Industry International Development Ltd. (a)	740,000		854,597
Integra Group Holdings unit (a)	490,700		1,030,470
Perfect World Co. Ltd. sponsored ADR Class B (a)	19,900		712,022
Want Want China Holdings Ltd.	1,170,000		697,484
Yingli Green Energy Holding Co. Ltd. ADR (a)(c)	44,479		590,236
TOTAL CAYMAN ISLANDS			11,405,601
China - 10.2%
China Construction Bank Corp. (H Shares)	9,800,000		7,903,379
China Merchants Bank Co. Ltd. (H Shares)	1,798,250		4,227,710
China National Materials Co. Ltd.	1,195,000		1,131,803
China Oilfield Services Ltd. (H Shares)	750,000		817,758
China Railway Construction Corp. Ltd. (H Shares)	825,500		1,316,565
China Shenhua Energy Co. Ltd. (H Shares)	936,500		3,824,619
China Yurun Food Group Ltd.	804,000		1,271,901
Golden Eagle Retail Group Ltd. (H Shares)	1,746,000		2,279,982
Industrial & Commercial Bank of China Ltd.	11,467,000		8,256,400
Maanshan Iron & Steel Co. Ltd. (H Shares)	1,286,000		1,000,610
NetEase.com, Inc. sponsored ADR (a)	22,400		986,944
PICC Property & Casualty Co. Ltd. (H Shares) (a)	1,924,000		1,501,990
Ping An Insurance (Group) Co. of China, Ltd. (H Shares)	519,000		4,607,470
Shanda Interactive Entertainment Ltd. sponsored ADR (a)	22,600		1,120,508
Tencent Holdings Ltd.	243,600		3,287,878
Yantai Changyu Pioneer Wine Co. (B Shares)	222,290		1,433,583
ZTE Corp. (H Shares)	456,300		1,990,095
TOTAL CHINA			46,959,195
Cyprus - 0.0%
XXI Century Investments Public Ltd. (a)	22,235		8,358
Common Stocks - continued
	Shares		Value
Czech Republic - 1.2%
Ceske Energeticke Zavody AS	58,700		$ 3,157,195
Komercni Banka AS	14,593		2,491,825
TOTAL CZECH REPUBLIC			5,649,020
Egypt - 0.3%
Commercial International Bank Ltd. sponsored GDR	200,071		1,604,569
Hong Kong - 6.2%
China Mobile (Hong Kong) Ltd.	1,059,200		11,114,976
China Overseas Land & Investment Ltd.	1,046,000		2,580,633
China Resources Power Holdings Co. Ltd.	805,700		2,084,464
CNOOC Ltd.	4,039,000		5,374,130
CNPC (Hong Kong) Ltd.	2,211,000		2,239,572
Hong Kong Exchange & Clearing Ltd.	77,300		1,458,255
Shanghai Industrial Holdings Ltd. (H Shares)	435,000		2,357,465
Sino-Ocean Land Holdings Ltd.	1,363,500		1,456,774
TOTAL HONG KONG			28,666,269
Hungary - 0.8%
OTP Bank Ltd. (a)	167,400		3,583,686
India - 8.5%
Bank of Baroda	50,473		471,251
Bharat Heavy Electricals Ltd.	60,655		2,828,622
Bharti Airtel Ltd.	97,244		833,869
DLF Ltd.	198,249		1,642,368
Grasim Industries Ltd.	23,355		1,374,828
Housing Development and Infrastructure Ltd.	193,531		1,120,720
Housing Development Finance Corp. Ltd.	86,910		4,608,638
ICICI Bank Ltd.	216,510		3,433,828
Indiabulls Real Estate Ltd.	199,091		1,025,324
Infosys Technologies Ltd. sponsored ADR	116,200		5,000,086
Jain Irrigation Systems Ltd.	99,656		1,471,346
JSW Steel Ltd.	143,739		2,097,102
Mahindra & Mahindra Ltd.	114,799		2,062,061
Maruti Suzuki India Ltd.	46,902		1,387,152
Power Finance Corp. Ltd.	102,291		500,386
Reliance Industries Ltd. (a)	112,670		4,606,689
Rural Electrification Corp. Ltd.	156,628		663,847
Tata Power Co. Ltd.	79,121		2,152,935
Tata Steel Ltd.	181,782		1,757,384
TOTAL INDIA			39,038,436
Common Stocks - continued
	Shares		Value
Indonesia - 5.0%
PT Astra International Tbk	1,056,000		$ 3,117,471
PT Bank Central Asia Tbk	7,211,500		2,742,922
PT Bank Mandiri Persero Tbk	3,601,500		1,514,994
PT Bank Rakyat Indonesia Tbk	4,320,000		3,177,441
PT Berlian Laju Tanker Tbk	2,406,000		201,208
PT Berlian Laju Tanker Tbk rights 8/4/09 (a)	802,000		32,727
PT Bumi Resources Tbk	9,126,000		2,574,598
PT Indocement Tunggal Prakarsa Tbk	1,600,000		1,499,249
PT Indofood Sukses Makmur Tbk	5,301,000		1,215,095
PT International Nickel Indonesia Tbk (a)	1,516,000		656,808
PT Perusahaan Gas Negara Tbk Series B	8,497,200		2,996,504
PT Telkomunikasi Indonesia Tbk Series B	3,809,500		3,435,278
TOTAL INDONESIA			23,164,295
Ireland - 0.3%
Dragon Oil PLC (a)	252,815		1,417,078
Israel - 1.6%
Israel Chemicals Ltd.	186,000		2,108,065
Teva Pharmaceutical Industries Ltd. sponsored ADR	98,300		5,243,322
TOTAL ISRAEL			7,351,387
Kazakhstan - 0.5%
JSC Halyk Bank of Kazakhstan unit (a)	188,950		982,540
KazMunaiGas Exploration & Production JSC (Reg. S) GDR	69,177		1,490,764
TOTAL KAZAKHSTAN			2,473,304
Korea (South) - 9.8%
Hana Financial Group, Inc.	139,680		3,998,364
Hyundai Engineering & Construction Co. Ltd.	28,399		1,470,235
Hyundai Heavy Industries Co. Ltd.	7,617		1,339,376
Hyundai Industrial Development & Construction Co.	60,660		2,155,620
Hyundai Mobis	36,567		3,872,925
Hyundai Motor Co.	50,581		3,644,545
KB Financial Group, Inc. (a)	21,000		911,998
Korea Exchange Bank	295,510		2,876,068
LG Electronics, Inc.	27,866		2,951,375
LG Innotek Co. Ltd.	4,587		461,439
MegaStudy Co. Ltd.	6,412		1,250,201
Mirae Asset Securities Co. Ltd.	14,400		919,800
NHN Corp. (a)	16,265		2,374,501
Samsung C&T Corp.	21,680		823,616
Samsung Electronics Co. Ltd.	15,498		9,176,863
Common Stocks - continued
	Shares		Value
Korea (South) - continued
Samsung Securities Co. Ltd.	14,917		$ 936,964
Shinhan Financial Group Co. Ltd. (a)	145,230		4,907,682
Taewoong Co. Ltd.	18,410		1,321,991
TOTAL KOREA (SOUTH)			45,393,563
Luxembourg - 1.1%
ArcelorMittal SA (NY Shares) Class A	48,500		1,747,940
Evraz Group SA GDR	108,693		2,391,246
Ternium SA sponsored ADR (a)(c)	46,245		943,398
TOTAL LUXEMBOURG			5,082,584
Malaysia - 0.0%
Parkson Holdings Bhd	1,190		1,824
Public Bank Bhd	647		1,874
TOTAL MALAYSIA			3,698
Mexico - 2.6%
America Movil SAB de CV Series L sponsored ADR	211,300		9,088,013
Corporacion Geo SA de CV Series B (a)	531,600		1,130,597
Empresas ICA Sociedad Controladora SA de CV sponsored ADR (a)	66,500		493,430
Grupo Aeroportuario del Pacifico SA de CV sponsored ADR	38,800		1,082,908
TOTAL MEXICO			11,794,948
Netherlands - 0.3%
X5 Retail Group NV GDR (Reg. S) (a)	75,522		1,215,904
Norway - 0.1%
Det Norske Oljeselskap ASA (DNO) (A Shares) (a)(c)	296,000		362,038
Papua New Guinea - 0.2%
Oil Search Ltd.	220,462		1,039,860
Peru - 0.4%
Compania de Minas Buenaventura SA sponsored ADR	72,789		1,896,153
Philippines - 0.4%
Philippine Long Distance Telephone Co. sponsored ADR	32,000		1,685,440
Poland - 0.3%
Bank Polska Kasa Opieki SA (a)	14,600		730,690
Globe Trade Centre SA (a)	56,700		506,729
TOTAL POLAND			1,237,419
Russia - 7.7%
Cherkizovo Group OJSC GDR (a)	45,700		276,485
Magnit OJSC GDR (Reg. S) (a)	131,700		1,290,660
Common Stocks - continued
	Shares		Value
Russia - continued
Mechel Steel Group OAO sponsored ADR	91,400		$ 976,152
Novorossiysk Commercial Sea Port JSC	1,890,700		302,512
Novorossiysk Commercial Sea Port JSC GDR (Reg. S)	11,500		148,350
OAO Gazprom	146,200		738,310
OAO Gazprom sponsored ADR	462,476		9,596,377
OAO NOVATEK GDR	28,400		1,224,324
OAO Tatneft sponsored ADR	97,500		2,427,750
OJSC MMC Norilsk Nickel sponsored ADR	300,780		3,016,823
OJSC Oil Company Rosneft GDR (Reg. S)	620,900		3,793,699
Polymetal JSC GDR (Reg. S) (a)	144,400		1,169,640
RusHydro OJSC GDR (a)	284,729		1,013,635
Sberbank (Savings Bank of the Russian Federation)	1,728,400		2,367,908
Sberbank (Savings Bank of the Russian Federation) GDR	7,007		1,358,195
Sistema JSFC sponsored GDR	93,000		1,393,140
Uralkali JSC	185,600		668,160
Vimpel Communications sponsored ADR (c)	284,300		3,840,893
TOTAL RUSSIA			35,603,013
Singapore - 0.7%
Singapore Exchange Ltd.	150,000		908,838
Straits Asia Resources Ltd.	843,000		1,247,631
Wilmar International Ltd.	298,000		1,240,286
TOTAL SINGAPORE			3,396,755
South Africa - 5.2%
African Bank Investments Ltd.	557,047		2,151,379
AngloGold Ashanti Ltd.	50,700		1,933,918
Aspen Pharmacare Holdings Ltd.	254,300		1,949,852
Aveng Ltd.	384,800		1,834,742
Clicks Group Ltd.	283,771		748,921
Illovo Sugar Ltd.	279,515		1,105,813
JD Group Ltd.	302,641		1,852,506
Mr. Price Group Ltd.	398,977		1,569,687
MTN Group Ltd.	412,873		6,810,276
Mvelaphanda Resources Ltd. (a)	229,619		1,151,942
Raubex Group Ltd.	386,699		1,238,334
Shoprite Holdings Ltd.	202,300		1,485,967
TOTAL SOUTH AFRICA			23,833,337
Taiwan - 7.8%
Advanced Semiconductor Engineering, Inc.	613,000		433,431
Advanced Semiconductor Engineering, Inc. sponsored ADR (c)	401,300		1,412,576
Asia Cement Corp.	1,629,000		1,742,697
Common Stocks - continued
	Shares		Value
Taiwan - continued
EVA Airways Corp. (a)	2,131,000		$ 616,373
Farglory Land Development Co. Ltd.	295,000		698,613
First Financial Holding Co. Ltd.	3,082,978		1,898,085
Fubon Financial Holding Co. Ltd.	2,003,000		2,054,281
Hon Hai Precision Industry Co. Ltd. (Foxconn)	1,754,273		6,041,842
HTC Corp.	229,900		3,135,637
Hung Poo Real Estate Development Co. Ltd.	216,000		276,501
Macronix International Co. Ltd.	2,144,000		1,120,683
MediaTek, Inc.	269,538		3,873,428
Polaris Securities Co. Ltd.	1,266,000		702,262
Siliconware Precision Industries Co. Ltd.	1,297,379		1,743,810
Taiwan Semiconductor Manufacturing Co. Ltd.	1,916,534		3,440,532
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	252,322		2,641,811
Wistron Corp.	1,309,000		2,609,223
Yuanta Financial Holding Co. Ltd.	2,117,000		1,522,743
TOTAL TAIWAN			35,964,528
Thailand - 0.8%
Central Pattana PCL (For. Reg.)	706,200		383,917
National Finance PCL (For. Reg.)	502,400		203,736
Siam Commercial Bank PCL (For. Reg.)	1,185,400		2,690,924
Thai Airways International PCL (For. Reg.) (a)	914,200		365,358
Total Access Communication PCL (For. Reg.)	14,600		14,265
TOTAL THAILAND			3,658,200
Turkey - 2.9%
Anadolu Efes Biracilik ve Malt Sanyii AS	169,646		1,822,043
Enka Insaat ve Sanayi AS	380,112		1,291,931
Tofas Turk Otomobil Fabrikasi AS	590,745		1,236,826
Turk Hava Yollari AO	897,000		1,414,615
Turkiye Garanti Bankasi AS (a)	1,201,375		4,246,584
Turkiye Halk Bankasi	295,200		1,575,229
Turkiye Is Bankasi AS Series C	555,510		1,925,838
TOTAL TURKEY			13,513,066
United Arab Emirates - 0.1%
DP World Ltd.	1,522,517		548,106
United Kingdom - 1.6%
Hikma Pharmaceuticals PLC	156,676		1,137,995
Max Petroleum PLC (a)	1,771,200		769,377
Randgold Resources Ltd. sponsored ADR	23,700		1,472,244
Standard Chartered PLC (United Kingdom)	62,300		1,479,042
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Tullow Oil PLC	40,704		$ 672,221
Xstrata PLC	129,400		1,747,236
TOTAL UNITED KINGDOM			7,278,115
United States of America - 1.3%
AsiaInfo Holdings, Inc. (a)	11,400		219,678
Central European Distribution Corp. (a)	64,900		1,863,279
CTC Media, Inc. (a)	145,702		1,800,877
Freeport-McMoRan Copper & Gold, Inc.	36,600		2,206,980
TOTAL UNITED STATES OF AMERICA			6,090,814
TOTAL COMMON STOCKS (Cost $385,178,293)		449,526,323
Money Market Funds - 3.1%

Fidelity Cash Central Fund, 0.37% (d)	10,918,436		10,918,436
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(d)	3,681,825		3,681,825
TOTAL MONEY MARKET FUNDS (Cost $14,600,261)		14,600,261
TOTAL INVESTMENT PORTFOLIO - 100.6% (Cost $399,778,554)			464,126,584
NET OTHER ASSETS - (0.6)%			(2,965,704)
NET ASSETS - 100%		$ 461,160,880

Legend

(a) Non-income producing

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

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	$ 66,658
Fidelity Securities Lending Cash Central Fund	105,279
Total	$ 171,937

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
Brazil	$ 62,879,156	$ 62,848,830	$ 30,326	$ -
China	46,959,195	46,959,195	-	-
Korea (South)	45,393,563	40,485,881	4,907,682	-
India	39,038,436	37,192,357	1,846,079	-
Taiwan	35,964,528	35,531,097	433,431	-
Russia	35,603,013	35,603,013	-	-
Hong Kong	28,666,269	12,177,163	16,489,106	-
South Africa	23,833,337	23,833,337	-	-
Indonesia	23,164,295	23,131,568	32,727	-
Cyprus	8,358	-	-	8,358
Other	108,016,173	108,016,173	-	-
Money Market Funds	14,600,261	14,600,261	-	-
Total Investments in Securities:	$ 464,126,584	$ 440,378,875	$ 23,739,351	$ 8,358

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:
Investments in Securities:
Beginning Balance	$ 1,240,035
Total Realized Gain (Loss)	(1,245,815)
Total Unrealized Gain (Loss)	2,499,359
Cost of Purchases	197,294
Proceeds of Sales	(136,304)
Amortization/Accretion	-
Transfer in/out of Level 3	(2,546,211)
Ending Balance	$ 8,358
The change in unrealized gain (loss) attributable to Level 3 securities at July 31, 2009	$ 403,935

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $407,594,193. Net unrealized appreciation aggregated $56,532,391, of which $90,441,098 related to appreciated investment securities and $33,908,707 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor Europe Capital
Appreciation Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804846.105

AEUR-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.1%
	Shares		Value
Australia - 0.2%
Billabong International Ltd.	6,193		$ 47,649
Belgium - 2.2%
Anheuser-Busch InBev SA NV	7,119		283,235
Anheuser-Busch InBev SA NV (strip VVPR) (a)	6,080		26
Fortis (a)	18,500		71,982
Gimv NV	900		45,088
Umicore SA	5,400		140,997
TOTAL BELGIUM			541,328
Bermuda - 0.9%
Seadrill Ltd.	3,800		60,979
Signet Jewelers Ltd. (United Kingdom)	6,800		151,553
TOTAL BERMUDA			212,532
Brazil - 0.5%
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.)	3,900		131,430
Canada - 0.6%
Petrobank Energy & Resources Ltd. (a)	2,300		69,981
Suncor Energy, Inc.	2,300		74,379
TOTAL CANADA			144,360
Cayman Islands - 0.6%
China Dongxiang Group Co. Ltd.	176,000		133,763
Denmark - 2.4%
Carlsberg AS Series B	800		55,503
Danske Bank AS (a)	8,307		172,900
Genmab AS (a)	2,600		104,002
Novo Nordisk AS Series B	4,400		258,952
TOTAL DENMARK			591,357
Finland - 1.2%
Nokia Corp.	8,917		119,898
Nokia Corp. sponsored ADR	6,500		86,710
Nokian Tyres PLC	4,474		94,501
TOTAL FINLAND			301,109
France - 14.5%
Accor SA	210		8,964
AXA SA	9,600		202,633
BNP Paribas SA	5,761		419,986
Bouygues SA	3,700		157,596
Common Stocks - continued
	Shares		Value
France - continued
Danone	4,978		$ 267,087
Essilor International SA	2,252		124,856
GDF Suez	4,129		157,744
L'Oreal SA	2,000		173,339
PPR SA	2,200		245,169
Renault SA (a)	3,300		140,723
Sanofi-Aventis	5,700		372,923
Schneider Electric SA	2,500		227,114
Societe Generale Series A	2,036		130,727
Technip SA	1,200		72,551
Television Francaise 1 SA	3,200		49,576
Total SA sponsored ADR	9,900		550,935
Unibail-Rodamco	700		122,315
Vallourec SA	540		71,037
TOTAL FRANCE			3,495,275
Germany - 9.4%
Bayerische Motoren Werke AG (BMW)	5,000		231,104
Deutsche Bank AG	1,453		94,298
Deutsche Boerse AG	2,600		206,034
Deutsche Post AG	5,200		82,302
Deutsche Telekom AG (Reg.)	18,887		241,563
E.ON AG	10,100		382,332
Fresenius Medical Care AG & Co. KGaA	1,500		68,882
MAN AG	1,200		82,950
Munich Re Group (Reg.)	1,600		241,928
Salzgitter AG	500		50,703
SAP AG	4,700		222,073
Siemens AG (Reg.)	4,600		365,602
TOTAL GERMANY			2,269,771
Hong Kong - 0.7%
China Unicom (Hong Kong) Ltd. sponsored ADR	7,200		103,536
Esprit Holdings Ltd.	10,000		72,259
TOTAL HONG KONG			175,795
Ireland - 1.0%
CRH PLC	7,741		184,800
Ryanair Holdings PLC sponsored ADR (a)	1,800		50,958
TOTAL IRELAND			235,758
Italy - 3.3%
ENI SpA sponsored ADR	4,800		223,584
Common Stocks - continued
	Shares		Value
Italy - continued
Fiat SpA (a)	16,400		$ 181,851
Intesa Sanpaolo SpA	79,600		296,388
UniCredit SpA	29,323		85,884
TOTAL ITALY			787,707
Luxembourg - 0.6%
ArcelorMittal SA (Netherlands)	4,100		147,549
Netherlands - 2.5%
Akzo Nobel NV	3,000		164,595
ASML Holding NV (Netherlands)	4,200		109,671
Koninklijke Ahold NV	3,348		38,074
Koninklijke KPN NV	12,800		192,375
Koninklijke Philips Electronics NV	4,400		100,162
TOTAL NETHERLANDS			604,877
Netherlands Antilles - 0.4%
Schlumberger Ltd.	1,600		85,600
Norway - 1.1%
DnB Nor ASA (a)	18,800		163,536
Pronova BioPharma ASA (a)	9,400		29,279
Telenor ASA (a)	8,600		79,297
TOTAL NORWAY			272,112
Papua New Guinea - 0.3%
Lihir Gold Ltd. (a)	34,725		80,442
South Africa - 0.6%
MTN Group Ltd.	9,000		148,454
Spain - 6.9%
Banco Bilbao Vizcaya Argentaria SA	15,224		249,237
Banco Santander SA	29,655		429,420
Iberdrola SA	28,900		247,962
Inditex SA	2,500		134,472
Telefonica SA sponsored ADR (c)	8,300		619,512
TOTAL SPAIN			1,680,603
Sweden - 1.8%
H&M Hennes & Mauritz AB (B Shares)	4,414		262,376
Lundin Petroleum AB (a)	10,400		92,081
Telefonaktiebolaget LM Ericsson (B Shares)	7,000		68,905
TOTAL SWEDEN			423,362
Common Stocks - continued
	Shares		Value
Switzerland - 10.6%
Actelion Ltd. (Reg.) (a)	2,378		$ 131,178
Credit Suisse Group (Reg.)	7,138		337,312
Nestle SA (Reg.)	17,848		734,530
Nobel Biocare Holding AG (Switzerland)	3,860		91,673
Novartis AG (Reg.)	4,262		194,729
Roche Holding AG (participation certificate)	3,201		504,720
Schindler Holding AG (participation certificate)	1,665		107,505
Sonova Holding AG	1,314		115,889
UBS AG (For. Reg.) (a)	9,334		136,646
Zurich Financial Services AG (Reg.)	1,108		217,733
TOTAL SWITZERLAND			2,571,915
United Kingdom - 32.9%
Aberdeen Asset Management PLC	48,200		100,257
Aegis Group PLC	15,110		20,827
Anglo American PLC (United Kingdom)	8,500		274,078
AstraZeneca PLC (United Kingdom)	7,400		344,730
Barclays PLC	65,700		334,001
Barratt Developments PLC (a)	8,900		29,515
Bellway PLC	10,700		131,392
BG Group PLC	25,000		417,257
Bovis Homes Group PLC	15,600		120,411
BP PLC	32,700		271,211
BP PLC sponsored ADR	4,100		205,164
British Land Co. PLC	17,600		127,909
British Sky Broadcasting Group PLC (BSkyB)	11,000		100,342
Burberry Group PLC	17,200		132,186
Cairn Energy PLC (a)	2,800		112,084
Capita Group PLC	6,800		75,833
Carphone Warehouse Group PLC	31,800		95,365
Debenhams PLC	33,160		49,168
easyJet PLC (a)	4,200		21,209
Experian PLC	24,000		198,078
HSBC Holdings PLC sponsored ADR	15,836		802,883
Icap PLC	9,200		69,782
Imperial Tobacco Group PLC	6,800		194,383
InterContinental Hotel Group PLC	9,000		102,096
ITV PLC	111,500		74,979
Kesa Electricals PLC	51,900		112,939
Mothercare PLC	6,400		56,670
NEXT PLC	3,400		96,850
Persimmon PLC	24,000		180,536
Common Stocks - continued
	Shares		Value
United Kingdom - continued
Prudential PLC	29,400		$ 220,174
Reckitt Benckiser Group PLC	5,004		240,439
Redrow PLC (a)	30,400		97,261
Rio Tinto PLC (Reg.)	11,869		494,393
Royal Dutch Shell PLC Class A (United Kingdom)	16,813		441,567
Segro PLC	14,920		68,798
Standard Chartered PLC (United Kingdom)	16,269		386,237
Taylor Wimpey PLC	56,934		37,097
The Game Group PLC	23,600		57,960
Tomkins PLC	35,200		104,091
Vodafone Group PLC	124,600		256,216
Vodafone Group PLC sponsored ADR	12,550		258,279
Wolseley PLC (a)	8,528		190,777
Xstrata PLC	19,100		257,900
TOTAL UNITED KINGDOM			7,963,324
United States of America - 3.9%
Allergan, Inc.	900		48,087
Autoliv, Inc.	1,400		50,134
BorgWarner, Inc.	1,900		63,061
CME Group, Inc.	350		97,591
CVS Caremark Corp.	2,100		70,308
Goldman Sachs Group, Inc.	500		81,650
Morgan Stanley	3,900		111,150
Pfizer, Inc.	7,400		117,882
State Street Corp.	1,600		80,480
Virgin Media, Inc.	8,200		85,690
Wells Fargo & Co.	5,100		124,746
TOTAL UNITED STATES OF AMERICA			930,779
TOTAL COMMON STOCKS (Cost $23,108,439)		23,976,851
Nonconvertible Preferred Stocks - 0.0%

Italy - 0.0%
Telecom Italia SpA (Risparmio Shares) (Cost $8,612)	7,700		8,675
Money Market Funds - 0.9%
	Shares		Value
Fidelity Cash Central Fund, 0.37% (d)	100,197		$ 100,197
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(d)	106,750		106,750
TOTAL MONEY MARKET FUNDS (Cost $206,947)		206,947
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $23,323,998)			24,192,473
NET OTHER ASSETS - 0.0%			(2,701)
NET ASSETS - 100%		$ 24,189,772

Legend

(a) Non-income producing

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

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	$ 2,920
Fidelity Securities Lending Cash Central Fund	14,899
Total	$ 17,819

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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	$ 24,192,473	$ 19,246,850	$ 4,945,623	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $23,708,011. Net unrealized appreciation aggregated $484,462, of which $3,437,635 related to appreciated investment securities and $2,953,173 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor Global Capital
Appreciation Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804860.105

AGLO-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.0%
	Shares		Value
Australia - 1.5%
MacArthur Coal Ltd.	11,497		$ 75,381
Mirabela Nickel Ltd. (a)(e)	8,400		20,740
OZ Minerals Ltd.	82,976		77,720
Westfield Group unit	8,681		82,255
Woolworths Ltd.	4,199		95,692
TOTAL AUSTRALIA			351,788
Belgium - 1.2%
Anheuser-Busch InBev SA NV	3,500		139,250
Fortis (a)	32,225		125,385
TOTAL BELGIUM			264,635
Bermuda - 1.8%
Aquarius Platinum Ltd. (United Kingdom)	16,400		71,239
Cooper Industries Ltd. Class A	6,400		210,880
Northern Offshore Ltd. (a)	50,000		53,816
Vostok Nafta Investment Ltd. SDR (a)	18,100		66,209
TOTAL BERMUDA			402,144
Brazil - 1.1%
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	5,200		74,256
TIM Participacoes SA	43,200		95,846
Votorantim Celulose e Papel SA sponsored ADR (non-vtg.) (a)	5,599		83,649
TOTAL BRAZIL			253,751
Canada - 4.9%
Agnico-Eagle Mines Ltd. (Canada)	3,400		199,421
Canadian National Railway Co.	1,900		92,394
Canadian Natural Resources Ltd.	1,800		108,199
Consolidated Thompson Iron Mines Ltd. (a)	24,100		97,756
Grande Cache Coal Corp. (a)	24,300		64,508
Niko Resources Ltd.	900		63,406
OPTI Canada, Inc. (a)(c)	74,500		108,567
OPTI Canada, Inc. (a)(d)	17,500		25,502
Quadra Mining Ltd. (a)	7,600		74,494
Research In Motion Ltd. (a)	1,400		106,400
Suncor Energy, Inc.	3,300		106,717
Teck Resources Ltd. Class B (sub. vtg.)	3,200		84,207
TOTAL CANADA			1,131,571
Cayman Islands - 1.4%
China High Speed Transmission Equipment Group Co. Ltd.	29,000		72,670
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Himax Technologies, Inc. sponsored ADR	22,300		$ 85,186
Trina Solar Ltd. ADR (a)	2,800		79,128
Xinyu Hengdeli Holdings Ltd.	68,000		25,182
Yingli Green Energy Holding Co. Ltd. ADR (a)(c)	4,300		57,061
TOTAL CAYMAN ISLANDS			319,227
Denmark - 0.9%
Danske Bank AS (a)	5,197		108,169
Novo Nordisk AS Series B	1,594		93,811
TOTAL DENMARK			201,980
France - 6.5%
Atos Origin SA	1,636		74,580
AXA SA sponsored ADR	4,500		95,130
BNP Paribas SA	1,927		140,481
Bouygues SA	1,766		75,220
Carrefour SA	2,195		103,035
Credit Agricole SA	7,300		104,199
Danone	1,800		96,576
Electricite de France	1,700		84,257
Iliad Group SA	600		64,051
Nexity	1,900		65,479
Pernod Ricard SA	1,100		85,475
Renault SA (a)	1,800		76,758
Saft Groupe SA	1,647		64,248
Sanofi-Aventis sponsored ADR	5,000		163,200
Societe Generale Series A	1,966		126,232
Vallourec SA	500		65,775
TOTAL FRANCE			1,484,696
Germany - 2.1%
Aixtron AG	8,400		137,679
Commerzbank AG (a)	4,932		38,661
Deutsche Bank AG (NY Shares)	1,600		103,840
Deutsche Postbank AG (a)	2,300		63,529
E.ON AG	3,873		146,611
TOTAL GERMANY			490,320
Greece - 0.3%
Hellenic Telecommunications Organization SA	4,571		71,663
Hong Kong - 0.4%
China Unicom (Hong Kong) Ltd. sponsored ADR	6,100		87,718
Common Stocks - continued
	Shares		Value
India - 2.1%
Dishman Pharmaceuticals and Chemicals Ltd.	14,943		$ 58,460
Educomp Solutions Ltd.	475		40,758
Financial Technologies India Ltd.	2,043		60,322
Housing Development and Infrastructure Ltd.	11,075		64,134
ICSA (India) Ltd.	16,421		62,851
Indiabulls Real Estate Ltd.	12,192		62,789
MIC Electronics Ltd.	66,324		59,771
Sintex Industries Ltd.	14,490		65,989
TOTAL INDIA			475,074
Ireland - 0.3%
Covidien PLC	1,700		64,277
Israel - 1.9%
Bezeq Israeli Telecommunication Corp. Ltd.	33,500		66,400
Teva Pharmaceutical Industries Ltd. sponsored ADR	7,052		376,154
TOTAL ISRAEL			442,554
Italy - 0.7%
Banco Popolare Scarl (a)	4,900		39,598
Intesa Sanpaolo SpA	35,139		130,839
TOTAL ITALY			170,437
Japan - 8.2%
eAccess Ltd.	88		68,365
East Japan Railway Co.	1,400		80,351
FamilyMart Co. Ltd.	2,200		71,620
Itochu Corp.	11,000		82,317
Japan Tobacco, Inc.	28		81,091
JTEKT Corp.	6,100		69,053
KDDI Corp.	14		74,284
Mitsubishi Corp.	4,800		95,888
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	23,337		144,689
Mitsubishi UFJ Lease & Finance Co. Ltd.	2,140		65,596
Mitsui & Co. Ltd.	7,000		87,824
Nippon Electric Glass Co. Ltd.	6,000		69,633
Nomura Holdings, Inc.	9,100		79,743
ORIX Corp.	2,170		137,388
Ricoh Co. Ltd.	6,000		78,765
ROHM Co. Ltd.	900		66,970
Sankyo Co. Ltd. (Gunma)	1,300		77,497
Shinsei Bank Ltd. (a)	59,000		87,306
Softbank Corp.	3,900		83,062
Common Stocks - continued
	Shares		Value
Japan - continued
Sumitomo Mitsui Financial Group, Inc.	2,800		$ 119,860
Tokuyama Corp.	8,000		60,543
Toshiba Corp.	20,000		88,786
TOTAL JAPAN			1,870,631
Korea (South) - 1.9%
DigiTech Systems Co., Ltd. (a)	3,617		75,138
Hanjin Heavy Industries & Consolidated Co. Ltd.	2,578		65,784
Hyundai Mipo Dockyard Co. Ltd.	656		72,966
KT&G Corp.	1,195		69,685
LG Corp.	1,389		75,204
Lumens Co. Ltd. (a)	19,064		77,257
TOTAL KOREA (SOUTH)			436,034
Luxembourg - 1.2%
Evraz Group SA GDR	3,100		68,200
GAGFAH SA	8,100		67,997
SES SA FDR (France) unit	3,628		71,667
Tenaris SA sponsored ADR	2,300		69,736
TOTAL LUXEMBOURG			277,600
Netherlands - 0.6%
Gemalto NV (a)	1,757		65,609
New World Resources BV	11,447		74,538
TOTAL NETHERLANDS			140,147
Netherlands Antilles - 0.6%
Schlumberger Ltd.	2,600		139,100
Norway - 1.0%
DnB Nor ASA (a)	11,500		100,035
Renewable Energy Corp. AS (a)	15,151		120,255
TOTAL NORWAY			220,290
Russia - 1.4%
Lukoil Oil Co. sponsored ADR	1,700		85,918
Mechel Steel Group OAO sponsored ADR	12,400		132,432
OAO Gazprom sponsored ADR	5,395		111,946
TOTAL RUSSIA			330,296
South Africa - 1.1%
Imperial Holdings Ltd.	7,101		62,234
Common Stocks - continued
	Shares		Value
South Africa - continued
MTN Group Ltd.	6,900		$ 113,814
Naspers Ltd. Class N	2,500		74,581
TOTAL SOUTH AFRICA			250,629
Spain - 1.6%
EDP Renovaveis SA (a)	6,891		70,753
Grupo Acciona SA	565		68,246
Telefonica SA	9,094		226,249
TOTAL SPAIN			365,248
Switzerland - 2.6%
ACE Ltd.	4,000		196,240
Actelion Ltd. (Reg.) (a)	1,275		70,333
Credit Suisse Group sponsored ADR	2,800		132,636
Roche Holding AG (participation certificate)	1,306		205,924
TOTAL SWITZERLAND			605,133
Taiwan - 1.3%
SIMPLO Technology Co. Ltd.	15,000		65,834
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	15,074		157,825
Wintek Corp.	92,000		70,521
TOTAL TAIWAN			294,180
United Kingdom - 7.0%
AstraZeneca PLC sponsored ADR	3,300		153,252
BAE Systems PLC	15,900		81,552
Barclays PLC Sponsored ADR	6,700		137,618
BG Group PLC	8,981		149,896
Bovis Homes Group PLC	8,300		64,065
Cairn Energy PLC (a)	1,621		64,889
Carphone Warehouse Group PLC	22,139		66,393
Debenhams PLC	41,030		60,837
Imperial Tobacco Group PLC	3,677		105,110
Reckitt Benckiser Group PLC	2,030		97,540
Taylor Wimpey PLC	99,500		64,832
Tesco PLC	19,044		116,927
The Game Group PLC	26,700		65,573
Vodafone Group PLC	85,977		176,795
Wolseley PLC (a)	3,469		77,604
Xstrata PLC	8,936		120,659
TOTAL UNITED KINGDOM			1,603,542
Common Stocks - continued
	Shares		Value
United States of America - 39.4%
Air Products & Chemicals, Inc.	1,500		$ 111,900
Amazon.com, Inc. (a)	2,700		231,552
Apple, Inc. (a)	1,400		228,746
Applied Materials, Inc.	17,500		241,500
Ascent Media Corp. (a)	4,600		127,512
Bank of America Corp.	8,900		131,631
Berkshire Hathaway, Inc. Class B (a)	52		165,386
C.R. Bard, Inc.	2,100		154,497
Capital One Financial Corp.	3,200		98,240
Charles Schwab Corp.	5,900		105,433
CME Group, Inc.	700		195,181
CSX Corp.	3,100		124,372
Cummins, Inc.	4,600		197,846
D.R. Horton, Inc.	8,800		101,992
Danaher Corp.	2,800		171,472
Deere & Co.	2,300		100,602
eBay, Inc. (a)	4,400		93,500
eHealth, Inc. (a)	6,100		99,064
Expedia, Inc. (a)	10,950		226,775
Globe Specialty Metals, Inc.	4,300		30,960
Goldman Sachs Group, Inc.	400		65,320
Google, Inc. Class A (a)	780		345,579
Henry Schein, Inc. (a)	1,900		97,622
Hewlett-Packard Co.	4,700		203,510
Humana, Inc. (a)	3,500		114,975
Illumina, Inc. (a)	2,300		83,122
Johnson & Johnson	4,800		292,272
JPMorgan Chase & Co.	9,700		374,905
Juniper Networks, Inc. (a)	10,000		261,300
Landstar System, Inc.	8,500		311,780
Las Vegas Sands Corp. (a)(c)	8,190		76,577
Lockheed Martin Corp.	1,300		97,188
Masco Corp.	11,300		157,409
Medco Health Solutions, Inc. (a)	2,000		105,720
Meritage Homes Corp. (a)	4,200		89,880
Mohawk Industries, Inc. (a)	2,600		134,108
Morgan Stanley	7,400		210,900
National Oilwell Varco, Inc. (a)	3,800		136,572
Noble Energy, Inc.	5,430		331,882
OpenTable, Inc.	3,200		95,040
Optimer Pharmaceuticals, Inc. (a)	6,700		94,403
Orthovita, Inc. (a)	21,200		138,012
Common Stocks - continued
	Shares		Value
United States of America - continued
Philip Morris International, Inc.	8,000		$ 372,800
Polo Ralph Lauren Corp. Class A	2,200		138,710
QUALCOMM, Inc.	6,100		281,881
Quicksilver Gas Services LP	6,400		89,664
Rubicon Technology, Inc. (a)	8,300		98,106
Southwestern Energy Co. (a)	10,250		424,659
The Coca-Cola Co.	5,100		254,184
The Walt Disney Co.	8,300		208,496
Torchmark Corp.	2,500		97,650
Veeco Instruments, Inc. (a)	5,000		94,200
Virgin Media, Inc.	6,000		62,700
Visa, Inc. Class A	1,200		78,552
Wells Fargo & Co.	3,400		83,164
TOTAL UNITED STATES OF AMERICA			9,041,003
TOTAL COMMON STOCKS (Cost $19,409,481)		21,785,668
Nonconvertible Preferred Stocks - 0.7%

Italy - 0.7%
Fiat SpA (Risparmio Shares)	11,200		73,269
Telecom Italia SpA (Risparmio Shares)	84,000		94,639
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $143,707)		167,908

Convertible Bonds - 1.1%
	Principal Amount
United States of America - 1.1%
Chesapeake Energy Corp. 2.5% 5/15/37	$ 250,000		192,800
Cogent Communications Group, Inc. 1% 6/15/27	80,000		49,800
TOTAL CONVERTIBLE BONDS (Cost $178,146)		242,600

Money Market Funds - 4.2%
	Shares		Value
Fidelity Cash Central Fund, 0.37% (f)	749,248		$ 749,248
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(f)	223,930		223,930
TOTAL MONEY MARKET FUNDS (Cost $973,178)		973,178
TOTAL INVESTMENT PORTFOLIO - 101.0% (Cost $20,704,512)			23,169,354
NET OTHER ASSETS - (1.0)%			(230,724)
NET ASSETS - 100%		$ 22,938,630

Legend

(a) Non-income producing

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

(d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $25,502 or 0.1% of net assets.

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

(f) 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.

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	$ 3,542
Fidelity Securities Lending Cash Central Fund	15,900
Total	$ 19,442

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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	$ 9,041,003	$ 9,041,003	$ -	$ -
Japan	1,870,631	1,790,888	79,743	-
United Kingdom	1,603,542	1,426,747	176,795	-
France	1,484,696	1,484,696	-	-
Canada	1,131,571	1,131,571	-	-
Switzerland	605,133	605,133	-	-
Germany	490,320	490,320	-	-
India	475,074	475,074	-	-
Israel	442,554	442,554	-	-
Other	4,809,052	4,582,803	226,249	-
Corporate Bonds	242,600	-	242,600
Money Market Funds	973,178	973,178	-	-
Total Investments in Securities:	$ 23,169,354	$ 22,443,967	$ 725,387	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $21,147,553. Net unrealized appreciation aggregated $2,021,801, of which $3,191,591 related to appreciated investment securities and $1,169,790 related to depreciated investment securities.

Investment Valuation

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. 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. Debt securities, including restricted securities, are valued based on quotations received from dealers who make markets in such securities or by independent pricing services. For corporate bonds pricing services generally utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as available dealer supplied prices. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. 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 value.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor International
Capital Appreciation Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804862.105

AICAP-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.9%
	Shares		Value
Australia - 2.7%
MacArthur Coal Ltd.	135,743		$ 890,011
Mirabela Nickel Ltd. (a)(e)	101,400		250,359
OZ Minerals Ltd.	991,557		928,748
Westfield Group unit	104,290		988,177
Woolworths Ltd.	49,812		1,135,174
TOTAL AUSTRALIA			4,192,469
Belgium - 2.0%
Anheuser-Busch InBev SA NV	40,846		1,625,093
Fortis (a)	378,800		1,473,885
TOTAL BELGIUM			3,098,978
Bermuda - 1.5%
Aquarius Platinum Ltd. (United Kingdom)	197,000		855,733
Northern Offshore Ltd. (a)	590,000		635,035
Vostok Nafta Investment Ltd. SDR (a)	212,500		777,315
TOTAL BERMUDA			2,268,083
Brazil - 1.9%
Companhia Energetica de Minas Gerais (CEMIG) (PN) sponsored ADR (non-vtg.)	61,200		873,936
TIM Participacoes SA	517,300		1,147,707
Votorantim Celulose e Papel SA sponsored ADR (a)(c)	66,001		986,055
TOTAL BRAZIL			3,007,698
Canada - 7.2%
Canadian National Railway Co.	22,600		1,099,006
Canadian Natural Resources Ltd.	22,300		1,340,463
Consolidated Thompson Iron Mines Ltd. (a)	284,000		1,151,975
Grande Cache Coal Corp. (a)(c)	292,000		775,161
Niko Resources Ltd.	10,500		739,732
OPTI Canada, Inc. (a)(c)	895,900		1,305,577
OPTI Canada, Inc. (a)(d)	208,900		304,426
Quadra Mining Ltd. (a)	89,800		880,204
Research In Motion Ltd. (a)	16,800		1,276,800
Suncor Energy, Inc.	40,000		1,293,544
Teck Resources Ltd. Class B (sub. vtg.)	37,500		986,796
TOTAL CANADA			11,153,684
Cayman Islands - 2.5%
China High Speed Transmission Equipment Group Co. Ltd.	351,000		879,555
Himax Technologies, Inc. sponsored ADR	266,300		1,017,266
Common Stocks - continued
	Shares		Value
Cayman Islands - continued
Trina Solar Ltd. ADR (a)(c)	34,100		$ 963,666
Xinyu Hengdeli Holdings Ltd.	836,000		309,596
Yingli Green Energy Holding Co. Ltd. ADR (a)(c)	53,100		704,637
TOTAL CAYMAN ISLANDS			3,874,720
Denmark - 1.6%
Danske Bank AS (a)	63,490		1,321,468
Novo Nordisk AS Series B	18,769		1,104,608
TOTAL DENMARK			2,426,076
France - 11.4%
Atos Origin SA	19,412		884,928
AXA SA sponsored ADR	55,200		1,166,928
BNP Paribas SA	22,656		1,651,657
Bouygues SA	20,791		885,563
Carrefour SA	25,838		1,212,851
Credit Agricole SA	86,900		1,240,400
Danone	21,400		1,148,186
Electricite de France	20,500		1,016,043
Iliad Group SA	7,399		789,852
Nexity	23,500		809,870
Pernod Ricard SA	13,100		1,017,931
Renault SA (a)	22,000		938,157
Saft Groupe SA	19,686		767,933
Sanofi-Aventis sponsored ADR	59,200		1,932,288
Societe Generale Series A	23,360		1,499,888
Vallourec SA	6,200		815,614
TOTAL FRANCE			17,778,089
Germany - 3.7%
Aixtron AG	98,400		1,612,813
Commerzbank AG (a)	59,056		462,933
Deutsche Bank AG (NY Shares)	19,300		1,252,570
Deutsche Postbank AG (a)	28,600		789,970
E.ON AG	45,280		1,714,058
TOTAL GERMANY			5,832,344
Greece - 0.5%
Hellenic Telecommunications Organization SA	53,799		843,447
Hong Kong - 0.7%
China Unicom (Hong Kong) Ltd. sponsored ADR	73,200		1,052,616
Common Stocks - continued
	Shares		Value
India - 3.8%
Dishman Pharmaceuticals and Chemicals Ltd.	185,018		$ 723,824
Educomp Solutions Ltd.	5,774		495,441
Financial Technologies India Ltd.	25,264		745,955
Housing Development and Infrastructure Ltd.	136,924		792,914
ICSA (India) Ltd.	202,044		773,323
Indiabulls Real Estate Ltd.	150,728		776,253
MIC Electronics Ltd.	816,055		735,431
Rural Electrification Corp. Ltd.	15,167		64,283
Sintex Industries Ltd.	178,172		811,414
TOTAL INDIA			5,918,838
Ireland - 0.5%
Covidien PLC	21,000		794,010
Israel - 1.6%
Bezeq Israeli Telecommunication Corp. Ltd.	407,200		807,102
Teva Pharmaceutical Industries Ltd. sponsored ADR	33,200		1,770,888
TOTAL ISRAEL			2,577,990
Italy - 1.3%
Banco Popolare Scarl (a)	59,100		477,597
Intesa Sanpaolo SpA	423,102		1,575,406
TOTAL ITALY			2,053,003
Japan - 14.5%
eAccess Ltd.	1,081		839,800
East Japan Railway Co.	16,800		964,211
FamilyMart Co. Ltd.	25,800		839,911
Itochu Corp.	131,000		980,319
Japan Tobacco, Inc.	345		999,154
JTEKT Corp.	77,100		872,784
KDDI Corp.	172		912,631
Mitsubishi Corp.	57,000		1,138,675
Mitsubishi UFJ Financial Group, Inc. sponsored ADR	272,200		1,687,640
Mitsubishi UFJ Lease & Finance Co. Ltd.	26,350		807,684
Mitsui & Co. Ltd.	83,700		1,050,120
Nippon Electric Glass Co. Ltd.	77,000		893,626
Nomura Holdings, Inc.	108,600		951,655
ORIX Corp.	25,910		1,640,428
Ricoh Co. Ltd.	72,000		945,185
ROHM Co. Ltd.	11,300		840,841
Sankyo Co. Ltd. (Gunma)	15,500		924,004
Shinsei Bank Ltd. (a)	692,000		1,023,993
Common Stocks - continued
	Shares		Value
Japan - continued
Softbank Corp.	46,100		$ 981,836
Sumitomo Mitsui Financial Group, Inc.	34,700		1,485,414
Tokuyama Corp.	101,000		764,359
Toshiba Corp.	239,000		1,060,987
TOTAL JAPAN			22,605,257
Korea (South) - 3.4%
DigiTech Systems Co., Ltd. (a)	43,454		902,700
Hanjin Heavy Industries & Consolidated Co. Ltd.	31,706		809,051
Hyundai Mipo Dockyard Co. Ltd.	7,848		872,927
KT&G Corp.	14,694		856,859
LG Corp.	16,467		891,564
Lumens Co. Ltd. (a)	224,679		910,513
TOTAL KOREA (SOUTH)			5,243,614
Luxembourg - 2.1%
Evraz Group SA GDR	37,700		829,400
GAGFAH SA	96,800		812,609
SES SA FDR (France) unit	43,590		861,075
Tenaris SA sponsored ADR	27,800		842,896
TOTAL LUXEMBOURG			3,345,980
Netherlands - 1.1%
Gemalto NV (a)	21,049		786,002
New World Resources BV	135,500		882,315
TOTAL NETHERLANDS			1,668,317
Norway - 1.7%
DnB NOR ASA (a)	140,900		1,225,647
Renewable Energy Corp. AS (a)(c)	180,109		1,429,546
TOTAL NORWAY			2,655,193
Russia - 2.5%
Lukoil Oil Co. sponsored ADR	20,600		1,041,124
Mechel Steel Group OAO sponsored ADR (c)	148,800		1,589,184
OAO Gazprom sponsored ADR	63,876		1,325,427
TOTAL RUSSIA			3,955,735
South Africa - 1.9%
Imperial Holdings Ltd.	86,862		761,274
Common Stocks - continued
	Shares		Value
South Africa - continued
MTN Group Ltd.	81,200		$ 1,339,381
Naspers Ltd. Class N	30,600		912,874
TOTAL SOUTH AFRICA			3,013,529
Spain - 2.8%
EDP Renovaveis SA (a)	81,393		835,703
Grupo Acciona SA	6,800		821,372
Telefonica SA	106,907		2,659,736
TOTAL SPAIN			4,316,811
Switzerland - 3.1%
Actelion Ltd. (Reg.) (a)	15,015		828,273
Credit Suisse Group sponsored ADR	33,100		1,567,947
Roche Holding AG (participation certificate)	15,348		2,420,005
TOTAL SWITZERLAND			4,816,225
Taiwan - 1.0%
SIMPLO Technology Co. Ltd.	178,000		781,225
Wintek Corp.	1,101,000		843,955
TOTAL TAIWAN			1,625,180
United Kingdom - 12.2%
AstraZeneca PLC sponsored ADR	38,700		1,797,228
BAE Systems PLC	187,400		961,184
Barclays PLC Sponsored ADR	79,200		1,626,768
BG Group PLC	105,396		1,759,090
Bovis Homes Group PLC	97,600		753,339
Cairn Energy PLC (a)	19,054		762,731
Carphone Warehouse Group PLC	272,214		816,344
Debenhams PLC	498,917		739,767
Imperial Tobacco Group PLC	43,278		1,237,131
Reckitt Benckiser Group PLC	24,430		1,173,845
Taylor Wimpey PLC	1,170,194		762,467
Tesco PLC	219,814		1,349,619
The Game Group PLC	321,300		789,090
Vodafone Group PLC	1,020,068		2,097,570
Wolseley PLC (a)	42,554		951,962
Xstrata PLC	105,533		1,424,970
TOTAL UNITED KINGDOM			19,003,105
United States of America - 8.7%
Bank of America Corp.	106,900		1,581,051
Capital One Financial Corp.	38,100		1,169,670
Common Stocks - continued
	Shares		Value
United States of America - continued
D.R. Horton, Inc.	106,300		$ 1,232,017
Globe Specialty Metals, Inc.	52,100		375,120
Goldman Sachs Group, Inc.	4,300		702,190
JPMorgan Chase & Co.	29,300		1,132,445
Las Vegas Sands Corp. (a)(c)	98,900		924,715
Meritage Homes Corp. (a)	49,500		1,059,300
Morgan Stanley	43,200		1,231,200
Rubicon Technology, Inc. (a)	97,700		1,154,814
Veeco Instruments, Inc. (a)	61,200		1,153,008
Virgin Media, Inc.	70,600		737,770
Wells Fargo & Co.	42,300		1,034,658
TOTAL UNITED STATES OF AMERICA			13,487,958
TOTAL COMMON STOCKS (Cost $135,467,579)		152,608,949
Nonconvertible Preferred Stocks - 1.3%

Italy - 1.3%
Fiat SpA (Risparmio Shares)	134,700		881,194
Telecom Italia SpA (Risparmio Shares)	969,400		1,092,184
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $1,701,797)		1,973,378
Money Market Funds - 4.1%

Fidelity Cash Central Fund, 0.37% (f)	80,954		80,954
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(f)	6,261,105		6,261,105
TOTAL MONEY MARKET FUNDS (Cost $6,342,059)		6,342,059
TOTAL INVESTMENT PORTFOLIO - 103.3% (Cost $143,511,435)		160,924,386
NET OTHER ASSETS - (3.3)%		(5,073,523)
NET ASSETS - 100%		$ 155,850,863

Legend

(a) Non-income producing

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

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

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	$ 12,495
Fidelity Securities Lending Cash Central Fund	266,953
Total	$ 279,448

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
Japan	$ 22,605,257	$ 21,653,602	$ 951,655	$ -
United Kingdom	19,003,105	16,905,535	2,097,570	-
France	17,778,089	17,778,089	-	-
United States of America	13,487,958	13,487,958	-	-
Canada	11,153,684	11,153,684	-	-
India	5,918,838	5,918,838	-	-
Germany	5,832,344	5,832,344	-	-
Korea (South)	5,243,614	5,243,614	-	-
Switzerland	4,816,225	4,816,225	-	-
Other	48,743,213	46,083,477	2,659,736	-
Money Market Funds	6,342,059	6,342,059	-	-
Total Investments in Securities	$ 160,924,386	$ 155,215,425	$ 5,708,961	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $147,235,091. Net unrealized appreciation aggregated $13,689,295, of which $21,331,616 related to appreciated investment securities and $7,642,321 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor Japan Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804864.105

AJAF-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%
	Shares		Value
CONSUMER DISCRETIONARY - 23.1%
Auto Components - 5.1%
Bridgestone Corp.	10,400		$ 180,717
Denso Corp.	17,800		525,853
NGK Spark Plug Co. Ltd.	7,000		77,243
NOK Corp.	15,000		184,071
Stanley Electric Co. Ltd.	33,400		693,347
Toyoda Gosei Co. Ltd.	5,400		167,234
			1,828,465
Automobiles - 7.7%
Honda Motor Co. Ltd.	23,300		745,238
Toyota Motor Corp.	34,700		1,456,706
Yamaha Motor Co. Ltd.	44,000		547,849
			2,749,793
Hotels, Restaurants & Leisure - 0.4%
Saizeriya Co. Ltd.	9,800		155,375
Household Durables - 2.4%
Haseko Corp.	63,500		60,406
Sekisui House Ltd.	69,000		650,544
Sony Corp.	5,500		153,326
			864,276
Leisure Equipment & Products - 1.9%
Nikon Corp.	34,000		683,522
Media - 2.0%
Fuji Media Holdings, Inc.	442		706,845
Multiline Retail - 1.5%
Isetan Mitsukoshi Holdings Ltd.	22,700		240,652
Marui Group Co. Ltd.	9,500		68,180
Takashimaya Co. Ltd.	27,000		222,598
			531,430
Specialty Retail - 2.1%
Nishimatsuya Chain Co. Ltd.	21,000		214,861
Yamada Denki Co. Ltd.	8,790		550,014
			764,875
TOTAL CONSUMER DISCRETIONARY			8,284,581
CONSUMER STAPLES - 1.9%
Beverages - 0.4%
Coca-Cola West Co. Ltd.	6,900		135,141
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food & Staples Retailing - 1.3%
Seven & i Holdings Co., Ltd.	20,300		$ 476,334
Personal Products - 0.2%
Kose Corp.	4,000		81,683
TOTAL CONSUMER STAPLES			693,158
FINANCIALS - 26.9%
Capital Markets - 2.7%
Daiwa Securities Group, Inc.	35,000		207,166
Matsui Securities Co. Ltd.	30,000		286,333
Nomura Holdings, Inc.	52,200		457,425
			950,924
Commercial Banks - 13.0%
Chiba Bank Ltd.	42,000		272,572
Mitsubishi UFJ Financial Group, Inc.	218,400		1,334,019
Mizuho Financial Group, Inc.	490,700		1,115,109
Sumitomo Mitsui Financial Group, Inc.	30,000		1,284,219
Sumitomo Trust & Banking Co. Ltd.	118,000		646,063
			4,651,982
Consumer Finance - 3.8%
Credit Saison Co. Ltd.	23,300		304,395
ORIX Corp.	13,990		885,743
Promise Co. Ltd. (b)	12,600		132,779
			1,322,917
Insurance - 4.3%
Sompo Japan Insurance, Inc.	101,000		670,415
Sony Financial Holdings, Inc.	44		135,660
T&D Holdings, Inc.	24,350		715,495
			1,521,570
Real Estate Investment Trusts - 1.3%
Japan Real Estate Investment Corp.	31		259,507
Nomura Real Estate Office Fund, Inc.	34		223,528
			483,035
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 1.8%
Leopalace21 Corp.	8,800		$ 75,434
Mitsubishi Estate Co. Ltd.	35,000		583,395
			658,829
TOTAL FINANCIALS			9,589,257
HEALTH CARE - 1.0%
Pharmaceuticals - 1.0%
Astellas Pharma, Inc.	5,600		213,677
Daiichi Sankyo Kabushiki Kaisha	7,300		132,713
			346,390
INDUSTRIALS - 17.4%
Air Freight & Logistics - 0.7%
Yamato Holdings Co. Ltd.	16,000		237,945
Building Products - 3.0%
Asahi Glass Co. Ltd.	61,000		529,986
Daikin Industries Ltd.	14,300		519,945
			1,049,931
Electrical Equipment - 2.2%
Mitsubishi Electric Corp.	51,000		374,104
Sumitomo Electric Industries Ltd.	30,700		382,574
			756,678
Machinery - 5.8%
Daifuku Co. Ltd.	12,500		86,143
Fanuc Ltd.	2,300		188,891
JTEKT Corp.	18,900		213,951
Kubota Corp.	70,000		630,377
NGK Insulators Ltd.	15,000		340,080
NSK Ltd.	47,000		254,846
THK Co. Ltd.	11,400		187,249
Toshiba Machine Co. Ltd.	45,000		165,046
			2,066,583
Marine - 0.3%
Mitsui O.S.K. Lines Ltd.	15,000		91,481
Road & Rail - 1.0%
East Japan Railway Co.	6,000		344,361
Trading Companies & Distributors - 3.1%
Mitsubishi Corp.	20,000		399,535
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Trading Companies & Distributors - continued
Mitsui & Co. Ltd.	31,000		$ 388,934
Sumitomo Corp.	31,100		308,009
			1,096,478
Transportation Infrastructure - 1.3%
The Sumitomo Warehouse Co. Ltd.	111,000		470,468
TOTAL INDUSTRIALS			6,113,925
INFORMATION TECHNOLOGY - 18.9%
Computers & Peripherals - 0.7%
Fujitsu Ltd.	39,000		256,400
Electronic Equipment & Components - 8.3%
Horiba Ltd.	10,200		240,958
Ibiden Co. Ltd.	10,600		352,923
Nidec Sankyo Corp.	10,000		64,052
Nippon Electric Glass Co. Ltd.	65,500		760,163
Yamatake Corp.	20,000		439,700
Yaskawa Electric Corp.	75,000		533,506
Yokogawa Electric Corp.	71,100		557,618
			2,948,920
Internet Software & Services - 0.3%
Yahoo! Japan Corp. (b)	282		92,549
IT Services - 0.5%
NTT Data Corp.	58		195,561
Office Electronics - 7.8%
Canon, Inc.	58,700		2,176,102
Konica Minolta Holdings, Inc.	38,500		421,176
Ricoh Co. Ltd.	14,000		183,786
			2,781,064
Semiconductors & Semiconductor Equipment - 1.3%
ROHM Co. Ltd.	2,800		208,350
Tokyo Electron Ltd.	5,000		262,129
			470,479
TOTAL INFORMATION TECHNOLOGY			6,744,973
MATERIALS - 5.9%
Chemicals - 5.1%
JSR Corp.	33,200		598,660
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Chemicals - continued
Nissan Chemical Industries Co. Ltd.	22,000		$ 296,248
Nitto Denko Corp.	19,800		638,305
Shin-Etsu Chemical Co., Ltd.	3,600		194,060
Zeon Corp.	25,000		104,376
			1,831,649
Metals & Mining - 0.8%
Sumitomo Metal Industries Ltd.	121,000		301,829
TOTAL MATERIALS			2,133,478
TELECOMMUNICATION SERVICES - 3.6%
Wireless Telecommunication Services - 3.6%
KDDI Corp.	63		334,278
NTT DoCoMo, Inc.	656		947,530
			1,281,808
TOTAL COMMON STOCKS (Cost $41,516,177)		35,187,570

Money Market Funds - 1.4%

Fidelity Cash Central Fund, 0.37% (c)	273,005		273,005
Fidelity Securities Lending Cash Central Fund, 0.22% (a)(c)	232,702		232,702
TOTAL MONEY MARKET FUNDS (Cost $505,707)		505,707
TOTAL INVESTMENT PORTFOLIO - 100.1% (Cost $42,021,884)			35,693,277
NET OTHER ASSETS - (0.1)%			(20,866)
NET ASSETS - 100%		$ 35,672,411

Legend

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

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

(c) 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.

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	$ 4,405
Fidelity Securities Lending Cash Central Fund	4,986
Total	$ 9,391

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
Consumer Discretionary	$ 8,284,581	$ 5,929,311	$ 2,355,270	$ -
Consumer Staples	693,158	693,158	-	-
Financials	9,589,257	7,797,813	1,791,444	-
Health Care	346,390	346,390	-	-
Industrials	6,113,925	6,113,925	-	-
Information Technology	6,744,973	4,568,871	2,176,102	-
Materials	2,133,478	2,133,478	-	-
Telecommunication Services	1,281,808	334,278	947,530	-
Money Market Funds	505,707	505,707	-	-
Total Investments in Securities:	$ 35,693,277	$ 28,422,931	$ 7,270,346	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $43,608,695. Net unrealized depreciation aggregated $7,915,418, of which $1,776,817 related to appreciated investment securities and $9,692,235 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor
Latin America Fund
Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804865.105

ALAF-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.6%
	Shares		Value
Bermuda - 1.4%
Dufry South America Ltd. unit	133,219		$ 1,963,303
GP Investments, Ltd. unit (a)	143,141		640,529
TOTAL BERMUDA			2,603,832
Brazil - 64.2%
AES Tiete SA (PN) (non-vtg.)	278,545		3,030,259
America Latina Logistica SA unit	129,400		816,898
Banco Bradesco SA:
(PN)	123,850		1,944,033
(PN) sponsored ADR	255,200		4,024,504
Companhia de Bebidas das Americas (AmBev):
(PN) sponsored ADR	60,300		4,240,899
sponsored ADR	3,260		186,765
Companhia de Saneamento de Minas Gerais (a)	2,764		37,757
Companhia Energetica de Minas Gerais (CEMIG):
(PN)	23,200		332,459
(PN) sponsored ADR (non-vtg.)	179,775		2,567,187
Confab Industrial SA (PN) (non-vtg.)	129,300		406,748
Eletropaulo Metropolitana SA (PN-B)	108,060		2,022,795
Equatorial Energia SA	182,077		1,639,278
Gerdau SA sponsored ADR (c)	241,100		2,813,637
GVT Holding SA (a)	69,800		1,350,738
Itau Unibanco Banco Multiplo SA	195,177		3,486,200
Itau Unibanco Banco Multiplo SA ADR	477,129		8,535,838
Lojas Americanas SA (PN)	72,700		405,188
Net Servicos de Comunicacao SA:
sponsored ADR	60,700		616,712
(PN) (a)	289,500		2,955,506
OGX Petroleo e Gas Participacoes SA	2,700		1,721,865
Petroleo Brasileiro SA - Petrobras:
(ON)	19,800		407,672
(PN) (non-vtg.)	314,800		5,304,026
(PN) sponsored ADR (non-vtg.)	403,700		13,604,690
sponsored ADR	287,500		11,856,500
Redecard SA	66,900		995,613
Souza Cruz Industria Comerico	56,200		1,912,487
TAM SA (PN) sponsored ADR (ltd. vtg.) (a)	174,502		2,144,630
Tele Norte Leste Participacoes SA:
(ON)	35,200		635,713
sponsored ADR (non-vtg.)	109,200		1,680,588
TIM Participacoes SA	300,600		666,926
TIM Participacoes SA sponsored ADR (non-vtg.)	33,741		742,977
Common Stocks - continued
	Shares		Value
Brazil - continued
Tractebel Energia SA	173,200		$ 1,796,973
Usinas Siderurgicas de Minas Gerais SA - Usiminas:
(ON)	27,750		677,986
(PN-A) (non-vtg.)	119,200		2,829,882
Vale SA:
(PN-A)	75,000		1,296,222
(PN-A) sponsored ADR	698,600		12,015,920
sponsored ADR (c)	303,100		5,980,163
Vivo Participacoes SA:
(PN)	37,352		849,328
sponsored ADR	222,746		5,071,926
Votorantim Celulose e Papel SA:
(PN) (non-vtg.) (a)	4,980		74,140
sponsored ADR (non-vtg.) (a)	116,550		1,741,257
TOTAL BRAZIL			115,420,885
Canada - 2.1%
Jaguar Mining, Inc. (a)	52,800		440,102
Pan American Silver Corp. (a)	61,100		1,204,281
Yamana Gold, Inc.	223,600		2,131,500
TOTAL CANADA			3,775,883
Chile - 4.5%
Banco Santander Chile sponsored ADR	32,725		1,607,125
CAP SA	115,266		2,680,060
Empresa Nacional de Electricidad SA	200,748		329,478
Empresa Nacional de Electricidad SA sponsored ADR (c)	38,271		1,886,760
Enersis SA sponsored ADR	9,600		184,224
Vina Concha y Toro SA	214,543		444,115
Vina Concha y Toro SA sponsored ADR	20,985		872,976
TOTAL CHILE			8,004,738
Luxembourg - 0.6%
Millicom International Cellular SA (a)	15,700		1,164,155
Mexico - 16.5%
America Movil SAB de CV:
Series L	126,700		271,574
Series L sponsored ADR	340,744		14,655,398
Fomento Economico Mexicano SAB de CV sponsored ADR	79,363		3,063,412
Grupo Aeroportuario del Pacifico SA de CV sponsored ADR	130,262		3,635,612
Grupo Mexico SA de CV Series B	999,736		1,414,705
Grupo Televisa SA de CV (CPO) sponsored ADR	98,856		1,788,305
Common Stocks - continued
	Shares		Value
Mexico - continued
Industrias Penoles SA de CV	49,515		$ 787,651
Wal-Mart de Mexico SA de CV Series V	1,188,969		4,046,424
TOTAL MEXICO			29,663,081
Panama - 0.6%
Copa Holdings SA Class A	27,100		1,098,634
Peru - 2.3%
Compania de Minas Buenaventura SA sponsored ADR	156,548		4,078,075
United Kingdom - 0.4%
Fresnillo PLC	66,035		688,978
TOTAL COMMON STOCKS (Cost $121,885,944)		166,498,261
Money Market Funds - 8.9%

Fidelity Cash Central Fund, 0.37% (d)	11,985,126		11,985,126
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(d)	3,983,700		3,983,700
TOTAL MONEY MARKET FUNDS (Cost $15,968,826)		15,968,826
TOTAL INVESTMENT PORTFOLIO - 101.5% (Cost $137,854,770)		182,467,087
NET OTHER ASSETS - (1.5)%		(2,732,930)
NET ASSETS - 100%		$ 179,734,157

Legend

(a) Non-income producing

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

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	$ 27,388
Fidelity Securities Lending Cash Central Fund	3,466
Total	$ 30,854

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
Brazil	$ 115,420,885	$ 115,383,128	$ 37,757	$ -
Mexico	29,663,081	29,663,081	-	-
Chile	8,004,738	8,004,738	-	-
Peru	4,078,075	4,078,075	-	-
Canada	3,775,883	3,775,883	-	-
Bermuda	2,603,832	2,603,832	-	-
Luxembourg	1,164,155	1,164,155	-	-
Panama	1,098,634	1,098,634	-	-
United Kingdom	688,978	688,978	-	-
Money Market Funds	15,968,826	15,968,826	-	-
Total Investments in Securities:	$ 182,467,087	$ 182,429,330	$ 37,757	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $139,926,320. Net unrealized appreciation aggregated $42,540,767, of which $51,845,790 related to appreciated investment securities and $9,305,023 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor Overseas Fund Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804851.105

OS-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.2%
	Shares		Value (000s)
Australia - 3.3%
AMP Ltd.	633,700		$ 2,978
ASX Ltd.	76,293		2,398
Australia & New Zealand Banking Group Ltd.	138,019		2,139
BHP Billiton Ltd.	220,519		6,958
Commonwealth Bank of Australia	183,473		6,567
National Australia Bank Ltd.	170,722		3,474
Navitas Ltd.	635,200		1,461
Newcrest Mining Ltd.	71,511		1,794
Rio Tinto Ltd.	46,207		2,334
Seek Ltd.	226,300		806
Wesfarmers Ltd.	54,854		1,186
Westfield Group unit	599,851		5,684
TOTAL AUSTRALIA			37,779
Belgium - 1.6%
Anheuser-Busch InBev SA NV	381,100		15,162
Fortis (a)	236,700		921
Hamon & Compagnie International SA	60,300		1,955
TOTAL BELGIUM			18,038
Bermuda - 0.4%
Lancashire Holdings Ltd. (a)	199,100		1,506
Signet Jewelers Ltd.	22,000		486
Signet Jewelers Ltd. (United Kingdom)	126,005		2,808
TOTAL BERMUDA			4,800
Brazil - 0.8%
TIM Participacoes SA sponsored ADR (non-vtg.)	194,000		4,272
Vivo Participacoes SA sponsored ADR	189,300		4,310
TOTAL BRAZIL			8,582
Canada - 0.7%
Canadian Natural Resources Ltd.	55,800		3,354
Open Text Corp. (a)	37,600		1,425
Suncor Energy, Inc.	95,200		3,079
TOTAL CANADA			7,858
Cayman Islands - 0.1%
Himax Technologies, Inc. sponsored ADR	320,300		1,224
Xinyu Hengdeli Holdings Ltd.	392,000		145
TOTAL CAYMAN ISLANDS			1,369
Common Stocks - continued
	Shares		Value (000s)
China - 0.6%
Baidu.com, Inc. sponsored ADR (a)	10,400		$ 3,621
China Telecom Corp. Ltd. (H Shares)	4,386,000		2,281
Parkson Retail Group Ltd.	829,500		1,385
TOTAL CHINA			7,287
Denmark - 1.7%
Danske Bank AS (a)	61,600		1,282
Novo Nordisk AS:
Series B	109,300		6,433
Series B sponsored ADR	147,900		8,636
Vestas Wind Systems AS (a)	33,600		2,367
William Demant Holding AS (a)	7,700		458
TOTAL DENMARK			19,176
Finland - 0.4%
Nokia Corp.	312,300		4,199
Nokia Corp. sponsored ADR	47,500		634
TOTAL FINLAND			4,833
France - 11.2%
Accor SA	93,281		3,982
Alstom SA	85,700		5,884
AXA SA	124,073		2,619
AXA SA sponsored ADR	101,800		2,152
BNP Paribas SA	161,778		11,794
Carrefour SA	67,628		3,174
CNP Assurances	32,800		2,997
Credit Agricole SA	102,200		1,459
Danone	184,422		9,895
Electricite de France	37,600		1,864
Essilor International SA	45,400		2,517
Iliad Group SA	18,000		1,922
Ingenico SA	158,051		3,309
Ipsos SA	58,500		1,527
L'Air Liquide SA	22,058		2,303
Lafarge SA (Bearer)	47,500		3,431
Laurent-Perrier Group	21,000		1,397
Meetic (a)	33,500		1,067
Michelin SA (Compagnie Generale des Etablissements) Series B	37,349		2,697
Nexity	39,300		1,354
Pernod Ricard SA	88,533		6,879
Remy Cointreau SA (c)	44,500		1,761
Common Stocks - continued
	Shares		Value (000s)
France - continued
Sanofi-Aventis sponsored ADR	208,900		$ 6,818
Societe Generale Series A	119,946		7,701
Total SA:
Series B	161,788		8,973
sponsored ADR	172,600		9,605
Unibail-Rodamco (c)	59,254		10,354
Vallourec SA	23,344		3,071
Veolia Environnement	111,169		3,823
TOTAL FRANCE			126,329
Germany - 9.7%
Aixtron AG	159,800		2,619
Allianz AG (Reg.)	49,600		4,915
BASF AG	75,600		3,788
Bayer AG	92,900		5,701
Bayerische Motoren Werke AG (BMW)	145,732		6,736
Commerzbank AG (a)	86,900		681
Daimler AG	66,200		3,075
Daimler AG (Reg.)	112,800		5,239
Deutsche Bank AG	76,800		4,984
Deutsche Bank AG (NY Shares)	47,800		3,102
Deutsche Boerse AG	131,769		10,442
Deutsche Post AG	183,500		2,904
Deutsche Telekom AG (Reg.)	240,557		3,077
E.ON AG	384,544		14,557
Metro AG	202,800		11,744
Munich Re Group (Reg.)	53,700		8,120
SAP AG	103,500		4,890
SAP AG sponsored ADR	73,700		3,482
Siemens AG (Reg.)	51,062		4,058
Vossloh AG	47,200		5,475
TOTAL GERMANY			109,589
Hong Kong - 3.3%
China Unicom (Hong Kong) Ltd. sponsored ADR	293,900		4,226
Hang Lung Properties Ltd.	1,341,000		4,914
Hang Seng Bank Ltd.	77,200		1,254
Hong Kong Exchange & Clearing Ltd.	720,100		13,585
Hutchison Whampoa Ltd.	969,000		7,258
Swire Pacific Ltd. (A Shares)	548,500		6,161
TOTAL HONG KONG			37,398
Common Stocks - continued
	Shares		Value (000s)
India - 0.2%
Tata Steel Ltd.	190,000		$ 1,837
Indonesia - 0.0%
PT Indosat Tbk sponsored ADR	1,115		30
Ireland - 1.0%
CRH PLC	334,961		7,997
Paddy Power PLC (Ireland)	142,300		3,540
TOTAL IRELAND			11,537
Israel - 0.2%
Teva Pharmaceutical Industries Ltd. sponsored ADR	49,800		2,656
Italy - 2.2%
Bulgari SpA	395,500		2,439
ENI SpA	257,191		6,010
ENI SpA sponsored ADR	86,100		4,011
Intesa Sanpaolo SpA	2,050,700		7,636
Tod's SpA	27,600		1,598
UniCredit SpA	1,210,294		3,545
TOTAL ITALY			25,239
Japan - 16.4%
Asahi Glass Co. Ltd.	150,000		1,303
Canon, Inc.	139,300		5,164
Canon, Inc. sponsored ADR	103,900		3,846
Denso Corp.	213,500		6,307
East Japan Railway Co.	42,100		2,416
Eisai Co. Ltd.	81,200		2,892
Fanuc Ltd.	38,700		3,178
Fast Retailing Co. Ltd.	7,300		948
Hitachi Ltd.	214,000		717
Honda Motor Co. Ltd.	284,700		9,106
Hoya Corp.	55,900		1,350
Japan Retail Fund Investment Corp.	686		3,444
Japan Tobacco, Inc.	307		889
JFE Holdings, Inc.	72,700		2,928
JSR Corp.	81,000		1,461
JTEKT Corp.	231,900		2,625
Jupiter Telecommunications Co.	2,463		2,070
Kao Corp.	111,000		2,517
Konica Minolta Holdings, Inc.	76,000		831
Mitsubishi Corp.	98,100		1,960
Mitsubishi Electric Corp.	495,000		3,631
Mitsubishi Estate Co. Ltd.	285,000		4,751
Common Stocks - continued
	Shares		Value (000s)
Japan - continued
Mitsubishi UFJ Financial Group, Inc.	1,821,800		$ 11,128
Mitsui & Co. Ltd.	254,700		3,196
Mitsui Sumitomo Insurance Group Holdings, Inc.	54,400		1,397
Mizuho Financial Group, Inc.	1,271,900		2,890
Murata Manufacturing Co. Ltd.	61,500		3,016
Nippon Telegraph & Telephone Corp.	60,200		2,485
Nomura Holdings, Inc.	776,600		6,805
NTT DoCoMo, Inc.	1,374		1,985
Omron Corp.	209,200		3,392
ORIX Corp.	16,200		1,026
Osaka Gas Co. Ltd.	456,000		1,518
Point, Inc.	19,790		1,067
Promise Co. Ltd.	144,050		1,518
Rakuten, Inc.	7,966		5,119
Ricoh Co. Ltd.	540,000		7,089
Seven & i Holdings Co., Ltd.	105,300		2,471
Sharp Corp.	303,000		3,372
Shin-Etsu Chemical Co., Ltd.	48,900		2,636
Shiseido Co. Ltd.	52,000		849
SMC Corp.	30,300		3,420
Softbank Corp.	52,500		1,118
Sony Corp.	37,700		1,051
Sony Corp. sponsored ADR	45,100		1,261
Sugi Holdings Co. Ltd.	76,700		1,634
Sumitomo Corp.	296,300		2,935
Sumitomo Metal Industries Ltd.	992,000		2,474
Sumitomo Mitsui Financial Group, Inc.	288,300		12,341
T&D Holdings, Inc.	119,900		3,523
Tokio Marine Holdings, Inc.	82,100		2,386
Tokyo Electron Ltd.	44,100		2,312
Toyota Motor Corp.	326,100		13,690
Toyota Motor Corp. sponsored ADR	97,300		8,191
Yahoo! Japan Corp. (c)	7,527		2,470
TOTAL JAPAN			186,099
Korea (South) - 0.2%
Samsung Electronics Co. Ltd.	3,875		2,295
Luxembourg - 1.2%
ArcelorMittal SA (NY Shares) Class A	202,100		7,284
SES SA (A Shares) FDR unit	286,204		5,727
TOTAL LUXEMBOURG			13,011
Common Stocks - continued
	Shares		Value (000s)
Netherlands - 2.1%
Aegon NV	171,100		$ 1,258
ASML Holding NV (NY Shares)	98,000		2,549
Gemalto NV (a)	46,200		1,725
ING Groep NV (Certificaten Van Aandelen)	135,500		1,734
Koninklijke Ahold NV	288,400		3,280
Koninklijke KPN NV (c)	333,400		5,011
Koninklijke Philips Electronics NV	130,500		2,971
Randstad Holdings NV (a)	74,800		2,591
Royal DSM NV	34,600		1,237
STMicroelectronics NV	137,900		1,054
TOTAL NETHERLANDS			23,410
Netherlands Antilles - 0.1%
Schlumberger Ltd.	28,600		1,530
Norway - 1.1%
DnB NOR ASA (a)	207,000		1,801
Norsk Hydro ASA (a)	200,000		1,174
Pronova BioPharma ASA (a)	439,700		1,370
StatoilHydro ASA	154,900		3,309
StatoilHydro ASA sponsored ADR	224,700		4,820
TOTAL NORWAY			12,474
Papua New Guinea - 0.5%
Lihir Gold Ltd. (a)	1,416,485		3,281
Oil Search Ltd.	546,579		2,578
TOTAL PAPUA NEW GUINEA			5,859
Singapore - 0.8%
Singapore Exchange Ltd.	1,020,000		6,180
United Overseas Bank Ltd.	251,000		3,083
TOTAL SINGAPORE			9,263
South Africa - 1.1%
Aspen Pharmacare Holdings Ltd.	358,600		2,750
Impala Platinum Holdings Ltd.	128,800		3,120
MTN Group Ltd.	394,500		6,507
TOTAL SOUTH AFRICA			12,377
Spain - 3.6%
Banco Bilbao Vizcaya Argentaria SA	208,755		3,418
Banco Santander SA	866,544		12,548
EDP Renovaveis SA (a)	316,400		3,249
Iberdrola SA	491,100		4,214
Common Stocks - continued
	Shares		Value (000s)
Spain - continued
Inditex SA	51,800		$ 2,786
Telefonica SA	488,348		12,150
Telefonica SA sponsored ADR	37,200		2,777
TOTAL SPAIN			41,142
Sweden - 0.5%
Nordea Bank AB	121,200		1,176
Skandinaviska Enskilda Banken AB (A Shares) (a)	210,400		1,175
Svenska Handelsbanken AB (A Shares)	63,500		1,553
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR	127,800		1,242
TOTAL SWEDEN			5,146
Switzerland - 7.4%
ABB Ltd. sponsored ADR	260,400		4,760
Adecco SA (Reg.)	73,749		3,554
Compagnie Financiere Richemont Series A	180,900		4,445
Credit Suisse Group sponsored ADR	92,500		4,382
Credit Suisse Group (Reg.)	89,810		4,244
Nestle SA (Reg.)	683,182		28,116
Roche Holding AG (participation certificate)	136,687		21,552
Swiss Reinsurance Co. (Reg.)	42,158		1,617
UBS AG:
(For. Reg.) (a)	206,228		3,019
(NY Shares) (a)	199,077		2,934
Zurich Financial Services AG (Reg.)	25,262		4,964
TOTAL SWITZERLAND			83,587
Taiwan - 0.4%
Hon Hai Precision Industry Co. Ltd. (Foxconn)	561,200		1,933
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	271,185		2,839
TOTAL TAIWAN			4,772
United Kingdom - 23.5%
Aegis Group PLC	1,622,754		2,237
Anglo American PLC:
ADR	322,146		5,193
(United Kingdom)	162,359		5,235
AstraZeneca PLC:
(United Kingdom)	67,000		3,121
sponsored ADR	111,700		5,187
Aviva PLC	334,000		1,957
BAE Systems PLC	288,000		1,477
Barclays PLC	1,031,000		5,241
Common Stocks - continued
	Shares		Value (000s)
United Kingdom - continued
Barclays PLC Sponsored ADR	136,700		$ 2,808
BG Group PLC	382,300		6,381
BHP Billiton PLC	475,902		12,427
BlueBay Asset Management	509,900		2,062
BP PLC	1,339,908		11,113
BP PLC sponsored ADR	65,100		3,258
British Land Co. PLC	660,700		4,802
Cairn Energy PLC (a)	80,700		3,230
Carphone Warehouse Group PLC	580,888		1,742
Centrica PLC	1,632,250		6,006
Diageo PLC	720,100		11,227
Diageo PLC sponsored ADR	9,800		611
GlaxoSmithKline PLC	132,800		2,545
GlaxoSmithKline PLC sponsored ADR	54,000		2,068
Hammerson PLC (c)	437,200		2,518
Hays PLC	1,126,800		1,793
Hikma Pharmaceuticals PLC	142,400		1,034
HSBC Holdings PLC sponsored ADR	548,645		27,816
Imperial Tobacco Group PLC	177,700		5,080
Informa PLC	985,880		3,949
InterContinental Hotel Group PLC	194,600		2,208
Jardine Lloyd Thompson Group PLC	612,600		4,432
Johnson Matthey PLC	146,400		3,463
Land Securities Group PLC	239,400		2,136
Lloyds TSB Group PLC	1,601,399		2,274
M&C Saatchi	773,305		833
Man Group PLC	1,052,966		4,869
Marks & Spencer Group PLC	823,800		4,759
Prudential PLC	453,400		3,395
Reed Elsevier PLC	401,277		2,838
Rio Tinto PLC:
(Reg.)	119,032		4,958
sponsored ADR (c)	38,600		6,469
Royal Bank of Scotland Group PLC (a)	2,177,200		1,631
Royal Dutch Shell PLC:
Class A (United Kingdom)	312,900		8,218
Class A sponsored ADR	169,700		8,933
Class B	154,200		3,999
Scottish & Southern Energy PLC	192,400		3,558
Spice PLC	1,206,000		1,501
Sports Direct International PLC	974,800		1,433
Standard Chartered PLC (United Kingdom)	450,900		10,705
Common Stocks - continued
	Shares		Value (000s)
United Kingdom - continued
Sthree PLC	190,600		$ 680
Tesco PLC	615,600		3,780
The Restaurant Group PLC	451,600		1,205
Vodafone Group PLC	5,955,369		12,246
Vodafone Group PLC sponsored ADR	395,400		8,137
William Hill PLC	1,415,800		4,340
William Morrison Supermarkets PLC	769,700		3,466
WPP PLC	430,000		3,317
Xstrata PLC	313,200		4,229
TOTAL UNITED KINGDOM			266,130
United States of America - 2.9%
Aon Corp.	108,200		4,268
Apple, Inc. (a)	12,300		2,010
Calgon Carbon Corp. (a)	159,500		2,021
Estee Lauder Companies, Inc. Class A	256,600		9,351
Gilead Sciences, Inc. (a)	32,000		1,566
Google, Inc. Class A (a)	13,800		6,114
Philip Morris International, Inc.	94,500		4,404
Sohu.com, Inc. (a)	41,100		2,514
TOTAL UNITED STATES OF AMERICA			32,248
TOTAL COMMON STOCKS (Cost $1,054,237)		1,123,680
Money Market Funds - 3.3%

Fidelity Cash Central Fund, 0.37% (d)	13,656,122		13,656
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(d)	24,193,058		24,193
TOTAL MONEY MARKET FUNDS (Cost $37,849)		37,849
TOTAL INVESTMENT PORTFOLIO - 102.5% (Cost $1,092,086)			1,161,529
NET OTHER ASSETS - (2.5)%			(28,430)
NET ASSETS - 100%		$ 1,133,099

Legend

(a) Non-income producing

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

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 112
Fidelity Securities Lending Cash Central Fund	940
Total	$ 1,052

Other Information

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
United Kingdom	$ 266,130	$ 208,362	$ 57,768	$ -
Japan	186,099	133,968	52,131	-
France	126,329	114,738	11,591	-
Germany	109,589	82,425	27,164	-
Switzerland	83,587	76,324	7,263	-
Spain	41,142	13,027	28,115	-
Australia	37,779	30,821	6,958	-
Hong Kong	37,398	37,398	-	-
United States of America	32,248	32,248	-	-
Other	203,379	185,130	18,249	-
Money Market Funds	37,849	37,849	-	-
Total Investments in Securities:	$ 1,161,529	$ 952,290	$ 209,239	$ -

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:
(Amounts in thousands)
Investments in Securities:
Beginning Balance	$ 601
Total Realized Gain (Loss)	(2,945)
Total Unrealized Gain (Loss)	2,905
Cost of Purchases	-
Proceeds of Sales	(561)
Amortization/Accretion	-
Transfer in/out of Level 3	-
Ending Balance	$ -
The change in unrealized gain (loss) attributable to Level 3 securities at July 31, 2009	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $1,109,280,000. Net unrealized appreciation aggregated $52,249,000, of which $173,749,000 related to appreciated investment securities and $121,500,000 related to depreciated investment securities.

Investment Valuation

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Advisor Value Leaders Fund Class A
Class T
Class B
Class C
Institutional Class

July 31, 2009

1.804852.105

AVLF-QTLY-0909

Investments July 31, 2009 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.5%
	Shares		Value
CONSUMER DISCRETIONARY - 9.8%
Auto Components - 1.0%
Autoliv, Inc.	2,400		$ 85,944
Johnson Controls, Inc.	14,800		383,024
The Goodyear Tire & Rubber Co. (a)	8,886		151,240
			620,208
Automobiles - 0.2%
Renault SA (a)	3,400		144,988
Hotels, Restaurants & Leisure - 0.2%
Wyndham Worldwide Corp.	6,500		90,675
Household Durables - 3.0%
Black & Decker Corp.	6,300		236,880
Centex Corp.	41,900		457,129
KB Home (c)	55,900		932,971
Whirlpool Corp.	2,700		154,143
			1,781,123
Media - 2.2%
Cablevision Systems Corp. - NY Group Class A	4,700		96,209
Comcast Corp. Class A (special) (non-vtg.)	30,500		426,695
News Corp. Class A	19,600		202,468
Time Warner Cable, Inc.	5,067		167,515
Time Warner, Inc.	15,400		410,564
			1,303,451
Multiline Retail - 0.1%
Macy's, Inc.	4,900		68,159
Specialty Retail - 3.1%
Advance Auto Parts, Inc.	4,300		198,789
Home Depot, Inc.	10,750		278,855
Lowe's Companies, Inc.	18,200		408,772
Ross Stores, Inc.	6,700		295,403
Staples, Inc.	26,300		552,826
Williams-Sonoma, Inc.	8,900		125,134
			1,859,779
TOTAL CONSUMER DISCRETIONARY			5,868,383
CONSUMER STAPLES - 5.1%
Beverages - 0.9%
Anheuser-Busch InBev SA NV	5,642		224,472
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Beverages - continued
Constellation Brands, Inc. Class A (sub. vtg.) (a)	6,400		$ 87,424
The Coca-Cola Co.	4,500		224,280
			536,176
Food & Staples Retailing - 1.5%
CVS Caremark Corp.	16,800		562,464
Kroger Co.	7,300		156,074
Winn-Dixie Stores, Inc. (a)	13,100		185,627
			904,165
Food Products - 1.3%
Marine Harvest ASA (a)	118,000		74,087
Nestle SA (Reg.)	9,802		403,399
Ralcorp Holdings, Inc. (a)	2,900		184,179
Tyson Foods, Inc. Class A	9,100		104,013
			765,678
Household Products - 1.0%
Energizer Holdings, Inc. (a)	3,100		198,586
Procter & Gamble Co.	7,600		421,876
			620,462
Tobacco - 0.4%
British American Tobacco PLC sponsored ADR	3,400		211,446
TOTAL CONSUMER STAPLES			3,037,927
ENERGY - 18.4%
Energy Equipment & Services - 4.2%
BJ Services Co.	10,400		147,472
ENSCO International, Inc.	5,800		219,762
Helmerich & Payne, Inc.	2,200		75,592
Nabors Industries Ltd. (a)	33,668		573,029
National Oilwell Varco, Inc. (a)	12,064		433,580
Noble Corp.	8,800		297,968
Transocean Ltd. (a)	4,300		342,667
Weatherford International Ltd. (a)	22,400		420,224
			2,510,294
Oil, Gas & Consumable Fuels - 14.2%
Chesapeake Energy Corp.	30,400		651,776
Chevron Corp.	31,700		2,202,199
ConocoPhillips	13,100		572,601
EOG Resources, Inc.	6,200		458,986
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
EXCO Resources, Inc. (a)	5,500		$ 75,570
Exxon Mobil Corp.	11,870		835,529
Marathon Oil Corp.	24,500		790,125
Occidental Petroleum Corp.	26,500		1,890,510
Petro-Canada	2,500		103,239
Petrohawk Energy Corp. (a)	13,300		322,924
Plains Exploration & Production Co. (a)	7,300		209,145
Range Resources Corp.	6,100		283,101
Valero Energy Corp.	6,600		118,800
			8,514,505
TOTAL ENERGY			11,024,799
FINANCIALS - 24.7%
Capital Markets - 4.9%
Charles Schwab Corp.	7,300		130,451
Franklin Resources, Inc.	2,900		257,172
Goldman Sachs Group, Inc.	6,900		1,126,770
KKR Private Equity Investors, LP (a)	16,771		114,043
KKR Private Equity Investors, LP Restricted Depositary Units (a)(d)	1,300		8,840
Morgan Stanley	32,600		929,100
State Street Corp.	8,000		402,400
			2,968,776
Commercial Banks - 4.4%
PNC Financial Services Group, Inc.	14,777		541,725
U.S. Bancorp, Delaware	6,700		136,747
Wells Fargo & Co.	79,605		1,947,138
			2,625,610
Consumer Finance - 0.8%
Capital One Financial Corp.	10,100		310,070
Discover Financial Services	15,400		182,952
			493,022
Diversified Financial Services - 8.8%
Bank of America Corp.	148,720		2,199,569
JPMorgan Chase & Co.	77,840		3,008,513
KKR Financial Holdings LLC	33,700		68,748
			5,276,830
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - 4.5%
ACE Ltd.	11,600		$ 569,096
Allied World Assurance Co. Holdings Ltd.	3,000		130,380
Argo Group International Holdings, Ltd. (a)	2,591		87,058
Assurant, Inc.	2,300		58,696
Everest Re Group Ltd.	6,800		545,496
Genworth Financial, Inc. Class A	26,400		182,160
Lincoln National Corp.	5,900		125,021
Loews Corp.	3,200		96,064
MetLife, Inc.	8,800		298,760
PartnerRe Ltd.	1,600		109,744
The Travelers Companies, Inc.	6,038		260,057
Unum Group	6,600		123,882
XL Capital Ltd. Class A	7,600		107,008
			2,693,422
Real Estate Investment Trusts - 0.6%
Alexandria Real Estate Equities, Inc.	3,100		118,141
CBL & Associates Properties, Inc.	6,000		35,640
Duke Realty LP	5,900		55,991
ProLogis Trust	8,000		70,320
SL Green Realty Corp.	4,100		105,698
			385,790
Real Estate Management & Development - 0.7%
CB Richard Ellis Group, Inc. Class A (a)	37,900		413,110
TOTAL FINANCIALS			14,856,560
HEALTH CARE - 9.9%
Biotechnology - 1.2%
Amgen, Inc. (a)	6,800		423,708
Biogen Idec, Inc. (a)	4,600		218,730
Cephalon, Inc. (a)	1,400		82,110
			724,548
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.	3,100		174,747
Boston Scientific Corp. (a)	26,200		281,388
Covidien PLC	18,375		694,759
			1,150,894
Health Care Providers & Services - 1.0%
Brookdale Senior Living, Inc.	13,100		140,301
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
CIGNA Corp.	8,800		$ 249,920
Humana, Inc. (a)	2,800		91,980
Medco Health Solutions, Inc. (a)	1,900		100,434
			582,635
Life Sciences Tools & Services - 0.2%
Thermo Fisher Scientific, Inc. (a)	2,250		101,880
Pharmaceuticals - 5.6%
Allergan, Inc.	3,000		160,290
King Pharmaceuticals, Inc. (a)	7,900		71,653
Merck & Co., Inc.	33,100		993,331
Pfizer, Inc.	105,800		1,685,394
Sepracor, Inc. (a)	7,370		127,870
Wyeth	7,450		346,798
			3,385,336
TOTAL HEALTH CARE			5,945,293
INDUSTRIALS - 9.1%
Aerospace & Defense - 1.8%
Honeywell International, Inc.	22,840		792,548
Northrop Grumman Corp.	1,800		80,244
Precision Castparts Corp.	1,500		119,715
United Technologies Corp.	1,500		81,705
			1,074,212
Air Freight & Logistics - 0.1%
United Parcel Service, Inc. Class B	1,600		85,968
Airlines - 0.1%
Delta Air Lines, Inc. (a)	10,100		69,993
Building Products - 1.1%
Masco Corp.	38,650		538,395
Owens Corning (a)	8,500		156,230
			694,625
Commercial Services & Supplies - 0.4%
Republic Services, Inc.	8,830		234,878
Electrical Equipment - 0.4%
Acuity Brands, Inc.	2,800		82,628
Regal-Beloit Corp.	2,900		134,444
			217,072
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Industrial Conglomerates - 0.5%
Siemens AG sponsored ADR	1,000		$ 79,480
Textron, Inc.	15,000		201,600
			281,080
Machinery - 2.2%
Caterpillar, Inc.	3,900		171,834
Cummins, Inc.	10,000		430,100
Deere & Co.	5,200		227,448
Ingersoll-Rand Co. Ltd.	13,800		398,544
Navistar International Corp. (a)	2,080		82,243
			1,310,169
Road & Rail - 2.5%
Con-way, Inc.	4,000		182,200
CSX Corp.	11,600		465,392
Ryder System, Inc.	4,800		168,624
Union Pacific Corp.	12,100		695,992
			1,512,208
TOTAL INDUSTRIALS			5,480,205
INFORMATION TECHNOLOGY - 7.9%
Communications Equipment - 1.0%
Cisco Systems, Inc. (a)	19,400		426,994
Juniper Networks, Inc. (a)	6,000		156,780
			583,774
Computers & Peripherals - 2.0%
Hewlett-Packard Co.	23,450		1,015,385
NCR Corp. (a)	14,100		182,454
			1,197,839
Electronic Equipment & Components - 1.8%
Amphenol Corp. Class A	1,700		56,695
Arrow Electronics, Inc. (a)	9,300		239,661
Avnet, Inc. (a)	16,700		407,480
Flextronics International Ltd. (a)	26,400		140,448
Tyco Electronics Ltd.	10,975		235,633
			1,079,917
Internet Software & Services - 0.4%
eBay, Inc. (a)	12,900		274,125
Semiconductors & Semiconductor Equipment - 2.4%
Applied Materials, Inc.	34,400		474,720
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
ASML Holding NV (NY Shares)	5,700		$ 148,257
Atmel Corp. (a)	28,050		116,969
KLA-Tencor Corp.	4,800		153,024
Lam Research Corp. (a)	8,300		249,498
Maxim Integrated Products, Inc.	4,300		76,196
MEMC Electronic Materials, Inc. (a)	4,300		75,766
Novellus Systems, Inc. (a)	5,000		97,850
ON Semiconductor Corp. (a)	4,500		32,850
			1,425,130
Software - 0.3%
Microsoft Corp.	7,700		181,104
TOTAL INFORMATION TECHNOLOGY			4,741,889
MATERIALS - 3.8%
Chemicals - 1.2%
Albemarle Corp.	8,100		240,651
Celanese Corp. Class A	6,000		154,200
Dow Chemical Co.	16,900		357,773
			752,624
Construction Materials - 0.2%
Vulcan Materials Co. (c)	2,105		99,945
Containers & Packaging - 0.7%
Owens-Illinois, Inc. (a)	6,100		207,034
Temple-Inland, Inc.	13,200		206,712
			413,746
Metals & Mining - 1.7%
Agnico-Eagle Mines Ltd. (Canada)	1,900		111,441
ArcelorMittal SA (NY Shares) Class A	5,800		209,032
Commercial Metals Co.	4,600		76,084
Freeport-McMoRan Copper & Gold, Inc.	5,600		337,680
Newcrest Mining Ltd.	9,428		236,539
Steel Dynamics, Inc.	4,400		71,984
			1,042,760
TOTAL MATERIALS			2,309,075
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - 5.7%
Diversified Telecommunication Services - 5.4%
AT&T, Inc.	67,137		$ 1,761,004
Qwest Communications International, Inc.	40,500		156,330
Verizon Communications, Inc.	40,650		1,303,646
			3,220,980
Wireless Telecommunication Services - 0.3%
Sprint Nextel Corp. (a)	50,800		203,200
TOTAL TELECOMMUNICATION SERVICES			3,424,180
UTILITIES - 5.1%
Electric Utilities - 2.8%
Allegheny Energy, Inc.	2,300		57,983
American Electric Power Co., Inc.	12,300		380,808
E.ON AG	3,221		121,930
Entergy Corp.	4,200		337,386
Exelon Corp.	8,600		437,396
FirstEnergy Corp.	8,000		329,600
			1,665,103
Independent Power Producers & Energy Traders - 0.9%
AES Corp.	13,900		177,781
Constellation Energy Group, Inc.	3,000		86,100
NRG Energy, Inc. (a)	9,600		261,216
			525,097
Multi-Utilities - 1.4%
CenterPoint Energy, Inc.	14,900		179,545
CMS Energy Corp.	9,800		126,812
PG&E Corp.	5,800		234,146
Sempra Energy	6,100		319,823
			860,326
TOTAL UTILITIES			3,050,526
TOTAL COMMON STOCKS (Cost $66,858,472)		59,738,837
Convertible Preferred Stocks - 0.1%
	Shares		Value
FINANCIALS - 0.1%
Commercial Banks - 0.1%
Huntington Bancshares, Inc. 8.50% (Cost $68,810)	92		$ 66,884

Convertible Bonds - 0.0%
	Principal Amount
INDUSTRIALS - 0.0%
Industrial Conglomerates - 0.0%
Textron, Inc. 4.5% 5/1/13 (Cost $20,000)	$ 20,000	24,872

Money Market Funds - 2.2%
	Shares
Fidelity Cash Central Fund, 0.37% (e)	278,964		278,964
Fidelity Securities Lending Cash Central Fund, 0.22% (b)(e)	1,045,600		1,045,600
TOTAL MONEY MARKET FUNDS (Cost $1,324,564)		1,324,564
TOTAL INVESTMENT PORTFOLIO - 101.8% (Cost $68,271,846)			61,155,157
NET OTHER ASSETS - (1.8)%		(1,095,936)
NET ASSETS - 100%		$ 60,059,221

Legend

(a) Non-income producing

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

(e) 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.

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	$ 2,078
Fidelity Securities Lending Cash Central Fund	3,684
Total	$ 5,762

Other Information

The following is a summary of the inputs used, as of July 31, 2009, involving the Fund's assets and liabilities carried at 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:
Consumer Discretionary	$ 5,868,383	$ 5,868,383	$ -	$ -
Consumer Staples	3,037,927	3,037,927	-	-
Energy	11,024,799	11,024,799	-	-
Financials	14,923,444	14,923,444	-	-
Health Care	5,945,293	5,945,293	-	-
Industrials	5,480,205	5,480,205	-	-
Information Technology	4,741,889	4,741,889	-	-
Materials	2,309,075	2,309,075	-	-
Telecommunication Services	3,424,180	3,424,180	-	-
Utilities	3,050,526	3,050,526	-	-
Corporate Bonds	24,872	-	24,872	-
Money Market Funds	1,324,564	1,324,564	-	-
Total Investments in Securities:	$ 61,155,157	$ 61,130,285	$ 24,872	$ -

Income Tax Information

At July 31, 2009, the aggregate cost of investment securities for income tax purposes was $69,955,633. Net unrealized depreciation aggregated $8,800,476, of which $5,163,556 related to appreciated investment securities and $13,964,032 related to depreciated investment securities.

Investment Valuation

Quarterly Report

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 Advisor Series VIII's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the 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 Advisor Series VIII

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	September 29, 2009

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/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	September 29, 2009

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer

Date:	September 29, 2009