N-Q 1 filing764.htm PRIMARY DOCUMENT

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)


245 Summer St., Boston, Massachusetts  02210

 (Address of principal executive offices)       (Zip code)


William C. Coffey, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)



Registrant's telephone number, including area code:

617-563-7000



Date of fiscal year end:

October 31



Date of reporting period:

January 31, 2019


Item 1.

Schedule of Investments






Quarterly Holdings Report
for

Fidelity Advisor® Overseas Fund

January 31, 2019







OS-QTLY-0319
1.813050.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.1%   
 Shares Value (000s) 
Australia - 0.6%   
Appen Ltd. 23,824 $276 
Aub Group Ltd. 153,521 1,321 
Insurance Australia Group Ltd. 148,452 765 
Lovisa Holdings Ltd. 48,720 255 
Netwealth Group Ltd. 52,505 274 
Pact Group Holdings Ltd. 75,176 207 
realestate.com.au Ltd. 10,885 599 
TOTAL AUSTRALIA  3,697 
Austria - 0.6%   
Andritz AG 6,840 338 
Erste Group Bank AG 82,200 2,860 
TOTAL AUSTRIA  3,198 
Bailiwick of Jersey - 1.3%   
Experian PLC 190,100 4,773 
Sanne Group PLC 393,719 2,582 
TOTAL BAILIWICK OF JERSEY  7,355 
Belgium - 1.2%   
KBC Groep NV 102,713 6,969 
Bermuda - 1.8%   
Credicorp Ltd. (United States) 11,200 2,719 
Hiscox Ltd. 152,900 2,844 
Hongkong Land Holdings Ltd. 53,900 386 
IHS Markit Ltd. (a) 80,901 4,200 
SmarTone Telecommunications Holdings Ltd. 431,000 512 
TOTAL BERMUDA  10,661 
Canada - 0.8%   
Constellation Software, Inc. 6,400 4,776 
Cayman Islands - 0.4%   
SITC International Holdings Co. Ltd. 969,000 890 
Value Partners Group Ltd. 900,000 669 
ZTO Express (Cayman), Inc. sponsored ADR 48,800 835 
TOTAL CAYMAN ISLANDS  2,394 
China - 0.2%   
Suofeiya Home Collection Co. Ltd. Class A 218,554 492 
Yunnan Baiyao Group Co. Ltd. 46,563 540 
TOTAL CHINA  1,032 
Denmark - 1.2%   
A.P. Moller - Maersk A/S Series A 377 470 
DSV de Sammensluttede Vognmaend A/S 41,600 3,313 
Netcompany Group A/S (b) 57,844 1,951 
NNIT A/S (b) 15,173 437 
Scandinavian Tobacco Group A/S (b) 47,936 620 
TOTAL DENMARK  6,791 
Finland - 0.1%   
Nokian Tyres PLC 20,200 671 
France - 9.5%   
Altarea SCA 2,800 579 
ALTEN 30,510 2,921 
Amundi SA (b) 56,641 3,255 
Capgemini SA 55,300 6,107 
Compagnie de St. Gobain 17,300 597 
Danone SA 87,600 6,375 
Edenred SA 74,243 3,012 
Elior SA (b) 90,100 1,268 
LVMH Moet Hennessy - Louis Vuitton SA 24,779 7,949 
Sanofi SA 96,541 8,391 
SR Teleperformance SA 28,100 4,834 
Total SA 182,511 10,005 
TOTAL FRANCE  55,293 
Germany - 6.5%   
adidas AG 21,984 5,226 
Axel Springer Verlag AG 29,700 1,815 
Bayer AG 67,372 5,107 
Bertrandt AG 9,693 831 
Deutsche Borse AG 28,100 3,741 
Deutsche Post AG 122,826 3,628 
Fresenius SE & Co. KGaA 43,640 2,263 
Hannover Reuck SE 31,300 4,510 
Instone Real Estate Group BV (b) 23,400 505 
JOST Werke AG (b) 7,300 257 
SAP SE 97,083 10,039 
TOTAL GERMANY  37,922 
Hong Kong - 1.8%   
AIA Group Ltd. 1,038,700 9,379 
Dah Sing Banking Group Ltd. 244,800 479 
Dah Sing Financial Holdings Ltd. 102,400 568 
TOTAL HONG KONG  10,426 
India - 1.2%   
Axis Bank Ltd. (a) 359,314 3,659 
HDFC Bank Ltd. sponsored ADR 31,700 3,114 
TOTAL INDIA  6,773 
Indonesia - 0.5%   
PT Astra International Tbk 1,391,000 841 
PT Bank Rakyat Indonesia Tbk 8,205,700 2,261 
TOTAL INDONESIA  3,102 
Ireland - 2.4%   
DCC PLC (United Kingdom) 56,809 4,638 
Kerry Group PLC Class A 47,490 4,851 
Kingspan Group PLC (Ireland) 43,644 1,783 
United Drug PLC (United Kingdom) 378,126 2,877 
TOTAL IRELAND  14,149 
Italy - 1.5%   
Banca Generali SpA 13,150 310 
FinecoBank SpA 166,400 1,807 
Prada SpA 619,700 2,051 
Recordati SpA 125,475 4,544 
TOTAL ITALY  8,712 
Japan - 16.4%   
AEON Financial Service Co. Ltd. 170,100 3,290 
Arata Corp. 13,800 553 
Credit Saison Co. Ltd. 39,300 516 
Daiichikosho Co. Ltd. 62,600 2,954 
Elecom Co. Ltd. 44,700 1,192 
GMO Internet, Inc. 46,600 627 
Hoya Corp. 106,600 6,164 
Iriso Electronics Co. Ltd. 46,800 1,910 
Kao Corp. 63,300 4,458 
Keyence Corp. 11,400 5,846 
KH Neochem Co. Ltd. 136,900 3,206 
Miroku Jyoho Service Co., Ltd. 81,740 1,877 
Nabtesco Corp. 27,330 719 
Nakanishi, Inc. 113,700 1,954 
Nissan Chemical Corp. 51,600 2,738 
Nitori Holdings Co. Ltd. 32,900 4,277 
NOF Corp. 95,000 3,127 
OBIC Co. Ltd. 36,120 3,409 
Olympus Corp. 88,580 3,635 
Oracle Corp. Japan 23,200 1,687 
ORIX Corp. 473,580 7,130 
Otsuka Corp. 93,400 3,010 
PALTAC Corp. 41,100 1,970 
Paramount Bed Holdings Co. Ltd. 12,200 511 
Recruit Holdings Co. Ltd. 160,740 4,298 
Renesas Electronics Corp. (a) 80,900 464 
S Foods, Inc. 70,500 2,540 
SMC Corp. 12,700 4,166 
Subaru Corp. 34,900 818 
Sundrug Co. Ltd. 6,980 223 
Suzuki Motor Corp. 64,600 3,365 
Temp Holdings Co., Ltd. 163,900 2,909 
The Suruga Bank Ltd. (c) 54,700 234 
Tsuruha Holdings, Inc. 43,200 3,982 
USS Co. Ltd. 182,000 3,181 
Welcia Holdings Co. Ltd. 72,120 2,728 
TOTAL JAPAN  95,668 
Kenya - 0.3%   
Safaricom Ltd. 7,828,400 1,852 
Korea (South) - 0.3%   
LG Chemical Ltd. 5,734 1,897 
Netherlands - 6.1%   
ASML Holding NV (Netherlands) 33,700 5,893 
ASR Nederland NV 7,700 325 
Grandvision NV (b) 114,300 2,549 
Heineken NV (Bearer) 65,800 5,910 
IMCD Group BV 84,590 6,187 
Intertrust NV (b) 36,624 596 
Koninklijke Philips Electronics NV 148,930 5,872 
Unilever NV (Certificaten Van Aandelen) (Bearer) 153,800 8,236 
TOTAL NETHERLANDS  35,568 
New Zealand - 0.5%   
EBOS Group Ltd. 193,728 2,904 
Norway - 2.1%   
Equinor ASA 276,240 6,315 
Schibsted ASA:   
(A Shares) 125,100 4,382 
(B Shares) 25,050 795 
Skandiabanken ASA (b) 67,000 608 
TOTAL NORWAY  12,100 
Spain - 2.4%   
Amadeus IT Holding SA Class A 65,256 4,741 
CaixaBank SA 1,210,500 4,578 
Grifols SA ADR 45,011 838 
Prosegur Cash SA (b) 1,589,300 3,720 
TOTAL SPAIN  13,877 
Sweden - 3.4%   
Addlife AB 84,600 2,048 
Addlife AB rights 2/15/19 (a) 84,600 103 
Alfa Laval AB 17,190 389 
Essity AB Class B 18,680 517 
Hexagon AB (B Shares) 68,600 3,348 
HEXPOL AB (B Shares) 201,700 1,784 
Indutrade AB 156,220 3,923 
Swedbank AB (A Shares) 299,895 6,798 
Telefonaktiebolaget LM Ericsson (B Shares) 101,400 904 
TOTAL SWEDEN  19,814 
Switzerland - 7.0%   
Credit Suisse Group AG 335,429 4,077 
Julius Baer Group Ltd. 81,570 3,278 
Lonza Group AG 17,731 4,670 
Roche Holding AG (participation certificate) 55,156 14,673 
Sika AG 33,038 4,352 
Sonova Holding AG Class B 25,570 4,788 
UBS Group AG 378,334 4,889 
TOTAL SWITZERLAND  40,727 
Taiwan - 0.6%   
Taiwan Semiconductor Manufacturing Co. Ltd. 433,300 3,215 
United Kingdom - 20.0%   
Admiral Group PLC 106,300 2,887 
Aggreko PLC 54,116 492 
AJ Bell PLC 95,400 325 
Ascential PLC 791,674 3,946 
BCA Marketplace PLC 215,000 565 
Beazley PLC 446,500 2,893 
BP PLC 228,900 1,564 
British American Tobacco PLC (United Kingdom) 57,805 2,038 
Charter Court Financial Services Group PLC (b) 148,073 537 
Cineworld Group PLC 1,111,895 3,806 
Close Brothers Group PLC 17,118 333 
Compass Group PLC 284,378 6,082 
Cranswick PLC 76,998 2,913 
Dechra Pharmaceuticals PLC 64,320 1,996 
Diageo PLC 264,900 10,110 
Diploma PLC 188,980 3,148 
Halma PLC 188,771 3,466 
Hastings Group Holdings PLC (b) 646,378 1,779 
Hilton Food Group PLC 148,645 1,809 
InterContinental Hotel Group PLC 80,655 4,592 
Intertek Group PLC 62,290 4,010 
James Fisher and Sons PLC 89,347 2,269 
John Wood Group PLC 38,570 274 
JTC PLC (b) 242,000 1,143 
Keywords Studios PLC 26,700 417 
LivaNova PLC (a) 4,858 448 
Lloyds Banking Group PLC 1,110,980 847 
London Stock Exchange Group PLC 71,730 4,314 
Micro Focus International PLC 57,998 1,106 
Mondi PLC 144,100 3,477 
Prudential PLC 379,711 7,426 
RELX PLC 215,400 4,765 
Rentokil Initial PLC 808,000 3,571 
Rightmove PLC 110,400 683 
Rio Tinto PLC 73,454 4,064 
Rolls-Royce Holdings PLC 326,377 3,794 
Rotork PLC 811,363 2,924 
Sabre Insurance Group PLC (b) 228,581 851 
Spectris PLC 104,028 3,549 
St. James's Place Capital PLC 48,560 597 
Standard Life PLC 154,561 510 
The Weir Group PLC 179,491 3,543 
Ultra Electronics Holdings PLC 113,109 1,905 
Unilever PLC 20,400 1,072 
Victrex PLC 67,770 2,032 
Volution Group PLC 818,300 1,696 
TOTAL UNITED KINGDOM  116,568 
United States of America - 4.4%   
Alphabet, Inc. Class C (a) 2,383 2,660 
Becton, Dickinson & Co. 16,300 4,066 
Boston Scientific Corp. (a) 102,600 3,914 
Equifax, Inc. 16,600 1,777 
Marsh & McLennan Companies, Inc. 50,600 4,462 
Moody's Corp. 15,230 2,414 
S&P Global, Inc. 17,603 3,374 
Total System Services, Inc. 31,200 2,796 
TOTAL UNITED STATES OF AMERICA  25,463 
TOTAL COMMON STOCKS   
(Cost $505,988)  553,574 
Nonconvertible Preferred Stocks - 0.6%   
Germany - 0.6%   
Henkel AG & Co. KGaA   
(Cost $4,301) 33,370 3,242 
Investment Companies - 1.8%   
United States of America - 1.8%   
iShares MSCI Japan ETF   
(Cost $10,279) 195,300 10,601 
 Principal Amount (000s) Value (000s) 
Government Obligations - 0.1%   
United States of America - 0.1%   
U.S. Treasury Bills, yield at date of purchase 2.33% to 2.41% 3/7/19 to 4/4/19
(Cost $499) 
500 499 
 Shares Value (000s) 
Money Market Funds - 3.0%   
Fidelity Cash Central Fund, 2.43% (d) 17,488,286 17,492 
Fidelity Securities Lending Cash Central Fund 2.43% (d)(e) 36,896 37 
TOTAL MONEY MARKET FUNDS   
(Cost $17,528)  17,529 
TOTAL INVESTMENT IN SECURITIES - 100.6%   
(Cost $538,595)  585,445 
NET OTHER ASSETS (LIABILITIES) - (0.6)%  (3,567) 
NET ASSETS - 100%  $581,878 

Security Type Abbreviations

ETF – Exchange-Traded Fund

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $20,076,000 or 3.5% of net assets.

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

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (e) 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 $124 
Fidelity Securities Lending Cash Central Fund 17 
Total $141 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Communication Services $24,004 $23,492 $512 $-- 
Consumer Discretionary 47,797 37,797 10,000 -- 
Consumer Staples 61,624 27,883 33,741 -- 
Energy 18,158 6,589 11,569 -- 
Financials 128,221 88,865 39,356 -- 
Health Care 82,743 46,334 36,409 -- 
Industrials 90,388 76,706 13,682 -- 
Information Technology 75,527 54,370 21,157 -- 
Materials 26,884 22,820 4,064 -- 
Real Estate 1,470 1,470 -- -- 
Investment Companies 10,601 10,601 -- -- 
Government Obligations 499 -- 499 -- 
Money Market Funds 17,529 17,529 -- -- 
Total Investments in Securities: $585,445 $414,456 $170,989 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

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

ETFs are valued at their last sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® International Capital Appreciation Fund

January 31, 2019







AICAP-QTLY-0319
1.813045.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.0%   
 Shares Value 
Australia - 1.9%   
CSL Ltd. 138,728 $19,726,304 
realestate.com.au Ltd. 258,926 14,251,512 
TOTAL AUSTRALIA  33,977,816 
Bailiwick of Jersey - 0.9%   
Experian PLC 641,800 16,114,053 
Belgium - 0.9%   
Umicore SA 381,798 16,141,381 
Bermuda - 1.0%   
Credicorp Ltd. (United States) 65,361 15,868,344 
Hiscox Ltd. 96,711 1,798,678 
TOTAL BERMUDA  17,667,022 
Brazil - 2.6%   
BM&F BOVESPA SA 1,995,400 17,217,383 
Equatorial Energia SA 577,600 13,960,145 
Rumo SA (a) 2,681,600 14,447,642 
TOTAL BRAZIL  45,625,170 
Canada - 4.8%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 299,100 16,248,532 
Canadian National Railway Co. 238,740 19,923,012 
Canadian Pacific Railway Ltd. 85,100 17,442,278 
Constellation Software, Inc. 22,580 16,851,782 
Waste Connection, Inc. (Canada) 186,030 15,524,327 
TOTAL CANADA  85,989,931 
Cayman Islands - 5.8%   
Alibaba Group Holding Ltd. sponsored ADR (a) 206,160 34,735,898 
Shenzhou International Group Holdings Ltd. 1,252,300 14,746,276 
TAL Education Group ADR (a) 506,100 15,704,283 
Tencent Holdings Ltd. 841,800 37,472,405 
TOTAL CAYMAN ISLANDS  102,658,862 
Chile - 0.8%   
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR (b) 354,710 15,131,929 
China - 2.9%   
Kweichow Moutai Co. Ltd. (A Shares) 150,754 15,514,559 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 2,003,000 19,500,327 
Wuliangye Yibin Co. Ltd. Class A 1,783,800 16,052,283 
TOTAL CHINA  51,067,169 
Denmark - 1.9%   
DONG Energy A/S (c) 229,400 16,495,247 
DSV de Sammensluttede Vognmaend A/S 208,400 16,595,572 
TOTAL DENMARK  33,090,819 
France - 10.2%   
Dassault Systemes SA 131,500 16,488,907 
Hermes International SCA 27,161 16,302,799 
Kering SA 37,623 18,840,187 
L'Oreal SA 84,620 20,395,552 
LVMH Moet Hennessy - Louis Vuitton SA 72,671 23,312,886 
Orpea 145,530 14,441,934 
Pernod Ricard SA 106,800 17,725,276 
Safran SA 143,500 18,854,362 
SR Teleperformance SA 90,600 15,586,224 
VINCI SA 210,800 18,548,398 
TOTAL FRANCE  180,496,525 
Germany - 5.6%   
adidas AG 76,257 18,128,837 
Deutsche Borse AG 124,600 16,590,237 
Deutsche Wohnen AG (Bearer) 333,500 16,639,353 
Symrise AG 180,100 14,965,943 
Vonovia SE 344,800 17,289,970 
Wirecard AG 101,128 16,749,185 
TOTAL GERMANY  100,363,525 
Hong Kong - 1.3%   
AIA Group Ltd. 2,637,400 23,814,439 
India - 4.7%   
HDFC Bank Ltd. 520,616 15,270,798 
Housing Development Finance Corp. Ltd. 687,269 18,618,539 
Kotak Mahindra Bank Ltd. 849,446 15,032,297 
Maruti Suzuki India Ltd. 166,015 15,537,352 
Reliance Industries Ltd. 1,120,758 19,381,880 
TOTAL INDIA  83,840,866 
Indonesia - 0.9%   
PT Bank Central Asia Tbk 8,020,600 16,173,226 
Ireland - 2.5%   
Accenture PLC Class A 91,940 14,117,387 
Kerry Group PLC Class A 151,320 15,458,178 
Kingspan Group PLC (Ireland) 350,160 14,308,315 
TOTAL IRELAND  43,883,880 
Israel - 0.9%   
NICE Systems Ltd. sponsored ADR (a) 141,300 15,535,935 
Italy - 0.8%   
Amplifon SpA 772,700 13,832,523 
Japan - 7.7%   
Hoya Corp. 278,200 16,085,413 
Kao Corp. 250,900 17,671,837 
Keyence Corp. 36,814 18,879,321 
Nidec Corp. 146,600 17,536,819 
OBIC Co. Ltd. 178,100 16,808,520 
Recruit Holdings Co. Ltd. 660,800 17,668,855 
Relo Group, Inc. 544,800 14,314,598 
Shiseido Co. Ltd. 291,200 17,310,259 
TOTAL JAPAN  136,275,622 
Netherlands - 3.9%   
ASML Holding NV (Netherlands) 126,600 22,138,234 
Ferrari NV 137,200 17,054,448 
Interxion Holding N.V. (a) 248,779 14,936,691 
Wolters Kluwer NV 246,200 15,329,948 
TOTAL NETHERLANDS  69,459,321 
Philippines - 0.8%   
SM Prime Holdings, Inc. 18,623,400 13,608,583 
South Africa - 3.1%   
Capitec Bank Holdings Ltd. 165,700 14,568,608 
FirstRand Ltd. 3,094,500 16,189,038 
Naspers Ltd. Class N 105,930 24,278,745 
TOTAL SOUTH AFRICA  55,036,391 
Spain - 1.0%   
Amadeus IT Holding SA Class A 240,291 17,459,354 
Sweden - 1.8%   
Hexagon AB (B Shares) 320,700 15,651,596 
Swedish Match Co. AB 346,457 15,495,770 
TOTAL SWEDEN  31,147,366 
Switzerland - 3.7%   
Givaudan SA 6,723 16,279,334 
Partners Group Holding AG 23,318 16,003,354 
Sika AG 125,644 16,551,223 
Temenos Group AG 124,100 16,709,729 
TOTAL SWITZERLAND  65,543,640 
Taiwan - 1.7%   
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 819,870 30,843,509 
United Kingdom - 9.3%   
Bunzl PLC 477,500 15,030,936 
Compass Group PLC 805,050 17,216,508 
Croda International PLC 235,600 14,897,515 
Diageo PLC 612,254 23,367,567 
Halma PLC 768,725 14,115,636 
InterContinental Hotel Group PLC 275,941 15,709,321 
Intertek Group PLC 234,547 15,098,571 
London Stock Exchange Group PLC 283,900 17,074,029 
RELX PLC 817,828 18,089,861 
Rentokil Initial PLC 3,289,700 14,540,777 
TOTAL UNITED KINGDOM  165,140,721 
United States of America - 13.6%   
Adobe, Inc. (a) 60,360 14,958,415 
Autodesk, Inc. (a) 99,300 14,616,960 
Becton, Dickinson & Co. 58,800 14,668,248 
Boston Scientific Corp. (a) 384,100 14,653,415 
CoStar Group, Inc. (a) 37,120 14,504,269 
Fiserv, Inc. (a) 182,900 15,167,897 
HEICO Corp. Class A 224,600 15,728,738 
IDEXX Laboratories, Inc. (a) 69,400 14,766,932 
Intuitive Surgical, Inc. (a) 29,020 15,196,033 
Marsh & McLennan Companies, Inc. 55,500 4,894,545 
MasterCard, Inc. Class A 69,650 14,705,205 
Microsoft Corp. 135,700 14,171,151 
Moody's Corp. 90,840 14,399,048 
Thermo Fisher Scientific, Inc. 59,500 14,617,365 
TransDigm Group, Inc. (a) 39,700 15,522,700 
UnitedHealth Group, Inc. 55,200 14,915,040 
Visa, Inc. Class A 107,340 14,491,973 
TOTAL UNITED STATES OF AMERICA  241,977,934 
TOTAL COMMON STOCKS   
(Cost $1,558,285,387)  1,721,897,512 
Nonconvertible Preferred Stocks - 1.1%   
Brazil - 1.1%   
Itau Unibanco Holding SA sponsored ADR   
(Cost $14,660,140) 1,862,770 19,819,873 
Money Market Funds - 2.7%   
Fidelity Cash Central Fund, 2.43% (d) 35,768,403 35,775,557 
Fidelity Securities Lending Cash Central Fund 2.43% (d)(e) 12,794,985 12,796,264 
TOTAL MONEY MARKET FUNDS   
(Cost $48,571,821)  48,571,821 
TOTAL INVESTMENT IN SECURITIES - 100.8%   
(Cost $1,621,517,348)  1,790,289,206 
NET OTHER ASSETS (LIABILITIES) - (0.8)%  (14,558,654) 
NET ASSETS - 100%  $1,775,730,552 

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

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

 (c) Security exempt from registration under 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 $16,495,247 or 0.9% of net assets.

 (d) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (e) 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 $110,624 
Fidelity Securities Lending Cash Central Fund 140,049 
Total $250,673 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $76,002,662 $38,530,257 $37,472,405 $-- 
Consumer Discretionary 207,288,795 169,229,633 38,059,162 -- 
Consumer Staples 175,239,813 131,476,694 43,763,119 -- 
Energy 19,381,880 19,381,880 -- -- 
Financials 262,832,763 170,582,933 92,249,830 -- 
Health Care 152,903,207 133,176,903 19,726,304 -- 
Industrials 326,395,657 272,878,844 53,516,813 -- 
Information Technology 335,397,387 313,259,153 22,138,234 -- 
Materials 93,967,325 77,825,944 16,141,381 -- 
Real Estate 61,852,504 61,852,504 -- -- 
Utilities 30,455,392 30,455,392 -- -- 
Money Market Funds 48,571,821 48,571,821 -- -- 
Total Investments in Securities: $1,790,289,206 $1,467,221,958 $323,067,248 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Diversified International Fund

January 31, 2019







ADIF-QTLY-0319
1.813040.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.4%   
 Shares Value (000s) 
Australia - 0.9%   
CSL Ltd. 74,934 $10,655 
Magellan Financial Group Ltd. 306,083 6,350 
TOTAL AUSTRALIA  17,005 
Bailiwick of Jersey - 1.0%   
Experian PLC 212,300 5,330 
Ferguson PLC 177,225 11,841 
TOTAL BAILIWICK OF JERSEY  17,171 
Belgium - 1.1%   
KBC Groep NV 238,380 16,175 
Umicore SA 94,300 3,987 
TOTAL BELGIUM  20,162 
Bermuda - 1.7%   
Credicorp Ltd. (United States) 40,805 9,907 
Hiscox Ltd. 446,600 8,306 
IHS Markit Ltd. (a) 138,788 7,206 
Marvell Technology Group Ltd. 265,600 4,922 
TOTAL BERMUDA  30,341 
Brazil - 0.2%   
Notre Dame Intermedica Participacoes SA 309,500 2,850 
Canada - 3.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 427,300 23,213 
Cenovus Energy, Inc. (Canada) 572,800 4,473 
Constellation Software, Inc. 12,400 9,254 
Fairfax India Holdings Corp. (a)(b) 521,300 6,720 
Suncor Energy, Inc. 524,500 16,917 
TOTAL CANADA  60,577 
Cayman Islands - 1.3%   
Alibaba Group Holding Ltd. sponsored ADR (a) 61,500 10,362 
ENN Energy Holdings Ltd. 292,700 2,803 
Tencent Holdings Ltd. 182,600 8,128 
Zai Lab Ltd. ADR (a) 69,154 1,866 
TOTAL CAYMAN ISLANDS  23,159 
China - 1.1%   
Kweichow Moutai Co. Ltd. (A Shares) 62,476 6,430 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 572,000 5,569 
Shanghai International Airport Co. Ltd. (A Shares) 579,972 4,267 
Wuliangye Yibin Co. Ltd. Class A 420,800 3,787 
TOTAL CHINA  20,053 
Denmark - 1.0%   
DONG Energy A/S (b) 75,400 5,422 
DSV de Sammensluttede Vognmaend A/S 57,500 4,579 
Netcompany Group A/S (b) 73,700 2,486 
NNIT A/S (b) 163 
Novozymes A/S Series B 129,300 5,394 
TOTAL DENMARK  17,886 
Finland - 0.2%   
Sampo Oyj (A Shares) 89,557 4,103 
France - 6.4%   
Amundi SA (b) 210,458 12,093 
BNP Paribas SA 244,800 11,478 
Capgemini SA 121,700 13,439 
Danone SA 39,700 2,889 
Elis SA 264,500 4,278 
Kering SA 10,300 5,158 
Legrand SA 75,100 4,449 
LVMH Moet Hennessy - Louis Vuitton SA 50,643 16,246 
Sanofi SA 245,355 21,326 
SR Teleperformance SA 52,500 9,032 
VINCI SA 158,600 13,955 
TOTAL FRANCE  114,343 
Germany - 8.6%   
adidas AG 53,209 12,650 
Allianz SE 60,100 12,752 
Aumann AG (b)(c) 8,174 337 
Bayer AG 190,226 14,418 
Deutsche Borse AG 83,400 11,105 
Deutsche Post AG 303,026 8,950 
Fresenius SE & Co. KGaA 174,200 9,032 
Hannover Reuck SE 60,800 8,762 
Linde PLC 99,838 16,193 
Morphosys AG (a) 16,383 1,768 
Morphosys AG sponsored ADR 104,317 2,716 
SAP SE 288,473 29,830 
Scout24 AG (b) 38,900 1,825 
Symrise AG 101,600 8,443 
Vonovia SE 163,700 8,209 
Wirecard AG 42,900 7,105 
TOTAL GERMANY  154,095 
Hong Kong - 2.2%   
AIA Group Ltd. 2,987,400 26,975 
BOC Hong Kong (Holdings) Ltd. 1,619,500 6,258 
Techtronic Industries Co. Ltd. 1,138,000 6,643 
TOTAL HONG KONG  39,876 
India - 4.2%   
Adani Ports & Special Economic Zone Ltd. (a) 378,591 1,807 
Axis Bank Ltd. (a) 546,458 5,565 
Godrej Consumer Products Ltd. 156,548 1,565 
HDFC Bank Ltd. 731,471 21,456 
Housing Development Finance Corp. Ltd. 736,387 19,949 
Kotak Mahindra Bank Ltd. 293,140 5,188 
LIC Housing Finance Ltd. 389,732 2,465 
Reliance Industries Ltd. 1,026,708 17,755 
TOTAL INDIA  75,750 
Indonesia - 1.1%   
PT Bank Central Asia Tbk 5,008,200 10,099 
PT Bank Rakyat Indonesia Tbk 35,926,700 9,899 
TOTAL INDONESIA  19,998 
Ireland - 2.2%   
CRH PLC 273,000 7,856 
DCC PLC (United Kingdom) 35,600 2,907 
Kerry Group PLC Class A 112,500 11,492 
Kingspan Group PLC (Ireland) 229,981 9,398 
Ryanair Holdings PLC sponsored ADR (a) 102,136 7,252 
TOTAL IRELAND  38,905 
Israel - 0.5%   
Check Point Software Technologies Ltd. (a) 76,700 8,584 
Italy - 0.8%   
FinecoBank SpA 115,900 1,259 
Intesa Sanpaolo SpA 2,686,500 6,147 
Prada SpA 1,106,700 3,663 
Recordati SpA 103,500 3,748 
TOTAL ITALY  14,817 
Japan - 17.8%   
Bandai Namco Holdings, Inc. 85,600 3,768 
Daikin Industries Ltd. 122,800 13,292 
Hoya Corp. 382,900 22,139 
Iriso Electronics Co. Ltd. 29,251 1,194 
Itochu Corp. 296,900 5,428 
Kao Corp. 164,100 11,558 
Keyence Corp. 48,400 24,821 
KH Neochem Co. Ltd. 64,300 1,506 
Minebea Mitsumi, Inc. 1,068,400 17,479 
Misumi Group, Inc. 191,300 4,356 
Mitsubishi UFJ Financial Group, Inc. 3,130,100 16,790 
Morinaga & Co. Ltd. 28,400 1,163 
Nabtesco Corp. 86,000 2,264 
Nidec Corp. 22,700 2,715 
Nintendo Co. Ltd. 5,300 1,607 
Nissan Chemical Corp. 51,300 2,722 
Nitori Holdings Co. Ltd. 103,400 13,442 
ORIX Corp. 1,579,800 23,786 
PALTAC Corp. 55,100 2,641 
Recruit Holdings Co. Ltd. 617,200 16,503 
Renesas Electronics Corp. (a) 956,800 5,490 
Shimadzu Corp. 116,199 2,662 
Shin-Etsu Chemical Co. Ltd. 107,200 9,039 
Shiseido Co. Ltd. 118,100 7,020 
SMC Corp. 28,100 9,217 
SoftBank Corp. 148,300 11,681 
Sony Corp. 404,300 20,258 
Sundrug Co. Ltd. 20,816 664 
Suzuki Motor Corp. 214,500 11,173 
Takeda Pharmaceutical Co. Ltd. 529,614 21,382 
Temp Holdings Co., Ltd. 146,600 2,602 
Tsubaki Nakashima Co. Ltd. 75,468 1,242 
Tsuruha Holdings, Inc. 130,200 12,001 
Welcia Holdings Co. Ltd. 197,806 7,482 
Yahoo! Japan Corp. 1,192,900 3,209 
Zozo, Inc. 237,300 4,778 
TOTAL JAPAN  319,074 
Korea (South) - 0.7%   
LG Chemical Ltd. 21,073 6,971 
SK Hynix, Inc. 94,940 6,307 
TOTAL KOREA (SOUTH)  13,278 
Luxembourg - 0.7%   
B&M European Value Retail S.A. 2,249,695 9,566 
Samsonite International SA (b) 1,109,400 3,299 
TOTAL LUXEMBOURG  12,865 
Netherlands - 4.8%   
Adyen BV (b) 4,559 3,380 
ASML Holding NV 120,600 21,109 
Heineken NV (Bearer) 72,400 6,503 
Koninklijke Philips Electronics NV 286,800 11,307 
NXP Semiconductors NV 63,100 5,492 
Unilever NV (Certificaten Van Aandelen) (Bearer) 439,200 23,519 
Wolters Kluwer NV 228,900 14,253 
TOTAL NETHERLANDS  85,563 
New Zealand - 0.3%   
Ryman Healthcare Group Ltd. 777,345 5,631 
Norway - 1.3%   
Equinor ASA 638,900 14,605 
Schibsted ASA (A Shares) 263,200 9,219 
TOTAL NORWAY  23,824 
South Africa - 0.2%   
Capitec Bank Holdings Ltd. 42,700 3,754 
Spain - 1.9%   
Amadeus IT Holding SA Class A 187,400 13,616 
CaixaBank SA 3,303,000 12,492 
Masmovil Ibercom SA (a) 104,150 2,270 
Prosegur Cash SA (b) 2,308,295 5,403 
TOTAL SPAIN  33,781 
Sweden - 2.1%   
ASSA ABLOY AB (B Shares) 557,800 10,394 
Coor Service Management Holding AB (b) 400,300 3,092 
Indutrade AB 112,300 2,820 
Swedbank AB (A Shares) 498,900 11,309 
Telefonaktiebolaget LM Ericsson (B Shares) 1,076,300 9,594 
TOTAL SWEDEN  37,209 
Switzerland - 5.2%   
Credit Suisse Group AG 861,756 10,475 
Julius Baer Group Ltd. 176,280 7,085 
Lonza Group AG 29,786 7,844 
Roche Holding AG (participation certificate) 118,277 31,457 
Sig Combibloc Group AG (a) 182,700 1,856 
Sika AG 129,762 17,094 
Sonova Holding AG Class B 12,193 2,283 
Swiss Re Ltd. 37,130 3,554 
TE Connectivity Ltd. 23,800 1,927 
UBS Group AG 686,113 8,866 
TOTAL SWITZERLAND  92,441 
Taiwan - 0.9%   
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 438,200 16,485 
United Kingdom - 13.9%   
Admiral Group PLC 110,700 3,007 
Aon PLC 31,600 4,937 
Ascential PLC 1,037,977 5,173 
AstraZeneca PLC (United Kingdom) 302,779 21,934 
Beazley PLC 583,200 3,779 
Big Yellow Group PLC 140,100 1,761 
BP PLC sponsored ADR 367,000 15,091 
British American Tobacco PLC sponsored ADR 108,100 3,814 
Bunzl PLC 401,000 12,623 
Coca-Cola European Partners PLC 141,800 6,747 
Compass Group PLC 545,592 11,668 
Conviviality PLC (d) 775,686 
Cranswick PLC 25,000 946 
Halma PLC 231,300 4,247 
Hastings Group Holdings PLC (b) 1,574,895 4,334 
Informa PLC 211,768 1,879 
InterContinental Hotel Group PLC 78,353 4,461 
John Wood Group PLC 255,500 1,814 
LivaNova PLC (a) 2,600 240 
Lloyds Banking Group PLC 17,643,300 13,451 
London Stock Exchange Group PLC 163,700 9,845 
Micro Focus International PLC 225,752 4,304 
Prudential PLC 1,230,994 24,074 
Reckitt Benckiser Group PLC 115,613 8,896 
RELX PLC 702,647 15,542 
Rentokil Initial PLC 796,000 3,518 
Rio Tinto PLC 179,100 9,908 
Smith & Nephew PLC 525,600 9,902 
Spectris PLC 144,400 4,926 
St. James's Place Capital PLC 638,500 7,855 
Standard Chartered PLC (United Kingdom) 664,088 5,347 
Standard Life PLC 1,556,760 5,138 
Tesco PLC 3,952,172 11,570 
The Weir Group PLC 323,300 6,382 
TOTAL UNITED KINGDOM  249,113 
United States of America - 6.7%   
Alphabet, Inc. Class C (a) 12,249 13,674 
Amgen, Inc. 67,200 12,574 
Becton, Dickinson & Co. 32,400 8,083 
Boston Scientific Corp. (a) 284,000 10,835 
Citigroup, Inc. 169,600 10,932 
Coty, Inc. Class A 527,600 4,094 
DowDuPont, Inc. 76,600 4,122 
IQVIA Holdings, Inc. (a) 51,100 6,592 
Marsh & McLennan Companies, Inc. 28,300 2,496 
MasterCard, Inc. Class A 91,700 19,361 
Microsoft Corp. 82,400 8,605 
Visa, Inc. Class A 133,000 17,956 
TOTAL UNITED STATES OF AMERICA  119,324 
TOTAL COMMON STOCKS   
(Cost $1,419,261)  1,692,017 
Nonconvertible Preferred Stocks - 0.5%   
Germany - 0.5%   
Henkel AG & Co. KGaA 65,500 6,364 
Sartorius AG (non-vtg.) 15,600 2,337 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $8,093)  8,701 
Money Market Funds - 5.1%   
Fidelity Cash Central Fund, 2.43% (e) 91,229,427 91,248 
Fidelity Securities Lending Cash Central Fund 2.43% (e)(f) 130,200 130 
TOTAL MONEY MARKET FUNDS   
(Cost $91,377)  91,378 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $1,518,731)  1,792,096 
NET OTHER ASSETS (LIABILITIES) - 0.0%  (527) 
NET ASSETS - 100%  $1,791,569 

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $48,396,000 or 2.7% of net assets.

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

 (d) Level 3 security

 (e) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (f) 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 $524 
Fidelity Securities Lending Cash Central Fund 19 
Total $543 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Communication Services $56,840 $35,424 $21,416 $-- 
Consumer Discretionary 139,776 89,667 50,109 -- 
Consumer Staples 161,717 108,340 53,377 -- 
Energy 70,655 70,655 -- -- 
Financials 427,289 238,712 188,577 -- 
Health Care 242,924 91,511 151,413 -- 
Industrials 239,310 187,389 51,921 -- 
Information Technology 248,921 205,193 43,728 -- 
Materials 95,091 64,301 30,790 -- 
Real Estate 9,970 9,970 -- -- 
Utilities 8,225 5,422 2,803 -- 
Money Market Funds 91,378 91,378 -- -- 
Total Investments in Securities: $1,792,096 $1,197,962 $594,134 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Global Capital Appreciation Fund

January 31, 2019







AGLO-QTLY-0319
1.813039.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.0%   
 Shares Value 
Australia - 0.3%   
Beacon Lighting Group Ltd. 98,061 $84,824 
Imdex Ltd. (a) 74,192 64,177 
Northern Star Resources Ltd. 36,664 233,730 
TOTAL AUSTRALIA  382,731 
Austria - 0.2%   
Erste Group Bank AG 5,600 194,857 
Bailiwick of Jersey - 0.2%   
WNS Holdings Ltd. sponsored ADR (a) 5,100 248,829 
Bermuda - 2.1%   
BW LPG Ltd. (a)(b) 6,600 20,229 
China Resource Gas Group Ltd. 24,000 94,443 
Credicorp Ltd. (United States) 2,000 485,560 
Genpact Ltd. 34,700 1,035,101 
Hiscox Ltd. 5,196 96,638 
Marvell Technology Group Ltd. 16,900 313,157 
Tai Cheung Holdings Ltd. 205,000 212,686 
Tai Fook Securities Group Ltd. 79,639 28,006 
TOTAL BERMUDA  2,285,820 
Brazil - 2.9%   
Banco ABC Brasil SA rights 2/4/19 (a) 500 922 
BK Brasil Operacao e Assessoria a Restaurantes SA 58,800 354,683 
BM&F BOVESPA SA 34,900 301,136 
BR Malls Participacoes SA 76,100 303,590 
BR Properties SA 3,100 7,480 
BTG Pactual Participations Ltd. unit 10,400 84,376 
CVC Brasil Operadora e Agencia de Viagens SA 19,900 349,199 
Direcional Engenharia SA 9,600 24,216 
Even Construtora e Incorporadora SA (a) 36,800 67,905 
Gafisa SA (a) 6,312 24,402 
Helbor Empreendimentos SA (a) 27,900 12,699 
Localiza Rent A Car SA 38,700 353,342 
Lojas Renner SA 30,500 380,497 
Natura Cosmeticos SA 200 2,601 
Notre Dame Intermedica Participacoes SA 26,946 248,094 
Smiles Fidelidade SA 4,400 53,926 
Sul America SA unit 69,564 612,252 
TOTAL BRAZIL  3,181,320 
British Virgin Islands - 0.7%   
Nomad Foods Ltd. (a) 41,000 751,530 
Canada - 3.9%   
Canadian Natural Resources Ltd. 4,200 112,812 
Canadian Natural Resources Ltd. 9,400 252,322 
First Quantum Minerals Ltd. 31,200 361,164 
Gluskin Sheff + Associates, Inc. 9,200 70,018 
Lions Gate Entertainment Corp.:   
Class A (c) 36,750 675,098 
Class B 3,250 56,973 
Pason Systems, Inc. 3,300 51,913 
PrairieSky Royalty Ltd. 6,600 95,337 
Precision Drilling Corp. (a) 226,750 498,731 
Rogers Communications, Inc. Class B (non-vtg.) 6,400 346,217 
SNC-Lavalin Group, Inc. 4,300 119,678 
Stingray Group, Inc. 26,700 128,425 
Suncor Energy, Inc. 26,300 848,277 
Suncor Energy, Inc. 3,500 113,120 
Tahoe Resources, Inc. (a) 38,400 145,540 
Torex Gold Resources, Inc. (a) 37,300 405,660 
TOTAL CANADA  4,281,285 
Cayman Islands - 2.3%   
Alibaba Group Holding Ltd. sponsored ADR (a) 4,900 825,601 
Ausnutria Dairy Hunan Co. Ltd. (H Shares) 268,000 308,084 
Chailease Holding Co. Ltd. 35,000 130,768 
Greatview Aseptic Pack Co. Ltd. 12,000 7,627 
Hengan International Group Co. Ltd. 34,500 269,892 
HKBN Ltd. 62,000 95,850 
Li Ning Co. Ltd. (a) 219,000 269,463 
Theravance Biopharma, Inc. (a) 9,900 257,895 
Towngas China Co. Ltd. 57,110 45,513 
Value Partners Group Ltd. 447,000 332,194 
ZTO Express (Cayman), Inc. sponsored ADR 100 1,712 
TOTAL CAYMAN ISLANDS  2,544,599 
China - 0.1%   
Air China Ltd. (H Shares) 4,000 4,005 
Bank of China Ltd. (H Shares) 40,000 18,598 
Beijing Urban Consolidated & Development Group Ltd. (H Shares) (b) 11,000 4,365 
China Construction Bank Corp. (H Shares) 8,000 7,206 
China Life Insurance Co. Ltd. (H Shares) 5,000 12,416 
Industrial & Commercial Bank of China Ltd. (H Shares) 27,000 20,975 
Yunnan Baiyao Group Co. Ltd. 300 3,480 
TOTAL CHINA  71,045 
Curacao - 0.5%   
Schlumberger Ltd. 13,800 610,098 
Denmark - 0.3%   
DONG Energy A/S (b) 4,300 309,196 
Finland - 0.5%   
Nokia Corp. sponsored ADR 89,800 570,230 
France - 2.2%   
Air France KLM (Reg.) (a) 14,100 177,527 
BNP Paribas SA 11,100 520,463 
Danone SA 5,100 371,136 
Edenred SA 3,700 150,089 
Elis SA 13,900 224,807 
Societe Generale Series A 19,100 595,529 
Vivendi SA 14,100 359,536 
TOTAL FRANCE  2,399,087 
Germany - 1.7%   
BAUER AG 7,400 123,663 
Deutsche Borse AG 3,100 412,759 
Deutsche Post AG 19,392 572,765 
KION Group AG 11,200 646,360 
MLP AG 18,800 92,422 
TOTAL GERMANY  1,847,969 
Hong Kong - 0.2%   
AIA Group Ltd. 30,400 274,497 
Sino Land Ltd. 626 1,126 
TOTAL HONG KONG  275,623 
India - 1.7%   
Bharat Heavy Electricals Ltd. 17,669 16,110 
Biocon Ltd. 37,200 339,864 
Divi's Laboratories Ltd. 9,400 199,525 
Dr. Reddy's Laboratories Ltd. 7,500 287,755 
HDFC Bank Ltd. 4,366 128,064 
HDFC Bank Ltd. sponsored ADR 1,700 166,974 
Praxis Home Retail Ltd. (a) 12 
RBL Bank Ltd. (b) 17,400 139,438 
Reliance Industries Ltd. 3,439 59,473 
TCNS Clothing Co. Ltd. (a)(b) 17,700 181,103 
The Karnataka Bank Ltd. (a) 10,441 17,657 
Torrent Pharmaceuticals Ltd. 11,600 297,324 
TOTAL INDIA  1,833,299 
Indonesia - 0.2%   
PT Bank Bukopin Tbk (a) 520,100 13,549 
PT Semen Gresik (Persero) Tbk 185,300 168,093 
PT Sumber Alfaria Trijaya Tbk 128,900 7,426 
TOTAL INDONESIA  189,068 
Ireland - 4.2%   
Allergan PLC 6,900 993,462 
C&C Group PLC 134,521 508,110 
Hibernia (REIT) PLC 176,758 265,845 
Jazz Pharmaceuticals PLC (a) 8,100 1,019,709 
Kingspan Group PLC (United Kingdom) 3,800 156,146 
Medtronic PLC 8,800 777,832 
Perrigo Co. PLC 13,600 631,720 
Ryanair Holdings PLC sponsored ADR (a) 2,900 205,900 
TOTAL IRELAND  4,558,724 
Israel - 0.8%   
CyberArk Software Ltd. (a) 3,300 289,608 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 31,200 619,320 
TOTAL ISRAEL  908,928 
Italy - 0.7%   
Mediaset SpA (a) 28,300 92,966 
Technogym SpA (a) 59,600 691,050 
TOTAL ITALY  784,016 
Japan - 6.4%   
Aichi Electric Co. Ltd. 3,500 93,023 
Aucnet, Inc. 58,800 471,804 
Bandai Namco Holdings, Inc. 8,600 378,582 
Broadleaf Co. Ltd. 43,700 223,064 
Daisue Construction Co. Ltd. 29,300 246,397 
Ezaki Glico Co. Ltd. 13,500 670,507 
FJ Next Co. Ltd. 25,600 215,517 
Hokuriku Electrical Construction Co. Ltd. 19,400 158,513 
Hoya Corp. 11,300 653,361 
LIFULL Co. Ltd. 58,931 386,291 
Maeda Seisakusho Co. Ltd. 17,500 68,763 
Meitetsu Transport Co. Ltd. 7,500 160,087 
Mikikogyo Co. Ltd. 5,300 177,356 
Minebea Mitsumi, Inc. 32,900 538,240 
Moriya Corp. 13,000 238,100 
Nakano Corp. 43,400 195,634 
NOF Corp. 21,000 691,164 
Renesas Electronics Corp. (a) 18,500 106,151 
Sakai Heavy Industries Ltd. 3,100 66,682 
Sanei Architecture Planning Co. Ltd. 700 10,604 
Seikitokyu Kogyo Co. Ltd. 111,700 627,591 
Shionogi & Co. Ltd. 5,200 319,185 
Taiheiyo Cement Corp. 5,700 194,666 
Zenkoku Hosho Co. Ltd. 4,100 143,222 
TOTAL JAPAN  7,034,504 
Kenya - 0.0%   
Safaricom Ltd. 100 24 
Korea (South) - 0.1%   
Hyundai Fire & Marine Insurance Co. Ltd. 1,122 37,671 
LG Chemical Ltd. 208 68,808 
TOTAL KOREA (SOUTH)  106,479 
Liberia - 0.2%   
Royal Caribbean Cruises Ltd. 1,900 228,095 
Mexico - 0.4%   
Credito Real S.A.B. de CV 463,600 477,849 
Multi-National - 0.0%   
HKT Trust/HKT Ltd. unit 39,000 57,516 
Netherlands - 2.3%   
Argenx SE ADR (a) 400 42,444 
Intertrust NV (b) 40,200 653,844 
Koninklijke Philips Electronics NV 14,552 573,714 
LyondellBasell Industries NV Class A 8,900 774,033 
NSI NV 6,183 260,436 
PostNL NV 77,270 200,147 
TOTAL NETHERLANDS  2,504,618 
Norway - 0.3%   
Grieg Seafood ASA 23,700 305,174 
Kongsberg Gruppen ASA 150 2,088 
TOTAL NORWAY  307,262 
Panama - 0.2%   
Copa Holdings SA Class A 2,600 246,610 
Philippines - 0.0%   
Century Properties Group, Inc. 1,560,000 14,212 
Portugal - 0.5%   
Banco Comercial Portugues SA (Reg.) (a) 1,859,600 512,968 
Russia - 0.1%   
Bank St. Petersburg PJSC (a) 60,200 45,088 
Sberbank of Russia 18,900 63,177 
TOTAL RUSSIA  108,265 
Singapore - 0.2%   
Wing Tai Holdings Ltd. 115,400 175,732 
Spain - 1.2%   
Atresmedia Corporacion de Medios de Comunicacion SA 15,200 73,732 
CaixaBank SA 219,300 829,392 
Indra Sistemas SA (a) 27,200 279,575 
Unicaja Banco SA (b) 130,100 152,635 
TOTAL SPAIN  1,335,334 
Sweden - 1.0%   
Essity AB Class B 13,100 362,234 
Indutrade AB 12,200 306,337 
Telefonaktiebolaget LM Ericsson (B Shares) 45,500 405,563 
TOTAL SWEDEN  1,074,134 
Switzerland - 2.1%   
Chubb Ltd. 2,500 332,625 
Roche Holding AG (participation certificate) 7,270 1,934,080 
TOTAL SWITZERLAND  2,266,705 
Taiwan - 0.4%   
Makalot Industrial Co. Ltd. 55,000 345,165 
St.Shine Optical Co. Ltd. 1,000 18,768 
TCI Co. Ltd. 3,136 46,097 
TOTAL TAIWAN  410,030 
Thailand - 0.6%   
Kasikornbank PCL (For. Reg.) 1,400 9,053 
MC Group PCL 2,700 860 
Muangthai Leasing PCL 197,300 299,992 
Srisawad Corp. PCL 194,400 303,361 
TOTAL THAILAND  613,266 
Turkey - 0.3%   
Bim Birlesik Magazalar A/S JSC 18,000 314,420 
United Kingdom - 5.0%   
Admiral Group PLC 6,473 175,828 
Aon PLC 1,900 296,837 
ConvaTec Group PLC (b) 154,387 289,161 
ConvaTec Group PLC ADR 1,900 14,307 
Diageo PLC 7,000 267,165 
Direct Line Insurance Group PLC 64,236 283,676 
Fever-Tree Drinks PLC 522 17,602 
Hastings Group Holdings PLC (b) 101,393 279,007 
HomeServe PLC 28,600 353,923 
Ibstock PLC (b) 43,200 137,460 
Lloyds Banking Group PLC 663,956 506,177 
Metro Bank PLC (a) 3,777 53,849 
Moneysupermarket.com Group PLC 34,386 136,655 
Prudential PLC 15,645 305,956 
Safestore Holdings PLC 43,899 332,225 
Senior Engineering Group PLC 35,900 106,510 
Smiths Group PLC 20,800 394,078 
Spire Healthcare Group PLC (b) 109,505 178,815 
Telecom Plus PLC 17,100 316,240 
Tesco PLC 183,451 537,043 
Unilever PLC 6,003 315,362 
Volution Group PLC 81,400 168,688 
TOTAL UNITED KINGDOM  5,466,564 
United States of America - 52.0%   
Abraxas Petroleum Corp. (a) 274,700 326,893 
Activision Blizzard, Inc. 50,300 2,376,164 
Akamai Technologies, Inc. (a) 11,300 735,630 
Alexion Pharmaceuticals, Inc. (a) 9,600 1,180,416 
Alleghany Corp. 600 378,936 
Allison Transmission Holdings, Inc. 5,000 243,350 
Alphabet, Inc. Class A (a) 1,500 1,688,835 
AMAG Pharmaceuticals, Inc. (a) 1,600 26,192 
American International Group, Inc. 19,400 838,662 
Anadarko Petroleum Corp. 15,800 747,814 
Anthem, Inc. 1,900 575,700 
Apache Corp. 10,800 354,456 
ARAMARK Holdings Corp. 8,800 289,960 
Avnet, Inc. 4,100 168,920 
Baker Hughes, a GE Co. Class A 1,900 44,783 
Bank of New York Mellon Corp. 5,200 272,064 
bluebird bio, Inc. (a) 500 66,715 
Brunswick Corp. 2,400 120,768 
California Resources Corp. (a) 6,100 122,915 
CDK Global, Inc. 12,500 611,375 
CDW Corp. 4,750 395,533 
Charles Schwab Corp. 9,800 458,346 
Cheniere Energy, Inc. (a) 15,300 1,004,445 
Cigna Corp. 4,300 859,183 
Cimarex Energy Co. 3,600 271,224 
Cisco Systems, Inc. 14,400 680,976 
CIT Group, Inc. 13,200 609,708 
Citigroup, Inc. 21,000 1,353,660 
Cognizant Technology Solutions Corp. Class A 2,500 174,200 
Conduent, Inc. (a) 46,500 592,875 
Crown Holdings, Inc. (a) 23,300 1,188,300 
CVS Health Corp. 2,345 153,715 
Del Frisco's Restaurant Group, Inc. (a) 34,200 270,864 
Dine Brands Global, Inc. 7,500 572,025 
Dorman Products, Inc. (a) 1,400 120,330 
DowDuPont, Inc. 10,300 554,243 
Dun & Bradstreet Corp. 1,500 217,110 
Electronic Arts, Inc. (a) 13,500 1,245,240 
Element Solutions, Inc. (a) 50,700 569,868 
EOG Resources, Inc. 4,300 426,560 
Epizyme, Inc. (a) 12,600 128,772 
Euronet Worldwide, Inc. (a) 10,300 1,184,603 
Exelon Corp. 9,400 448,944 
F5 Networks, Inc. (a) 1,200 193,140 
Fluor Corp. 15,400 563,178 
General Electric Co. 100 1,016 
Goldman Sachs Group, Inc. 2,000 396,020 
Great Southern Bancorp, Inc. 1,800 96,012 
Greif, Inc. Class A 4,471 174,369 
HD Supply Holdings, Inc. (a) 15,100 633,294 
Henry Schein, Inc. (a) 4,000 310,800 
Hill-Rom Holdings, Inc. 1,500 150,030 
Hubbell, Inc. Class B 4,000 437,320 
Humana, Inc. 1,300 401,687 
Huntington Bancshares, Inc. 63,107 835,537 
ImmunoGen, Inc. (a) 15,300 80,325 
Independence Contract Drilling, Inc. (a) 23,500 80,370 
Intercept Pharmaceuticals, Inc. (a) 300 36,204 
Ironwood Pharmaceuticals, Inc. Class A (a) 2,900 39,614 
Jacobs Engineering Group, Inc. 14,500 939,600 
JBG SMITH Properties 7,200 278,280 
Keysight Technologies, Inc. (a) 3,900 288,678 
Las Vegas Sands Corp. 100 5,836 
M&T Bank Corp. 4,200 691,068 
Malibu Boats, Inc. Class A (a) 9,600 389,280 
Martin Marietta Materials, Inc. 1,500 265,020 
Matrix Service Co. (a) 36,800 789,360 
Melinta Therapeutics, Inc. (a) 15,300 12,916 
MetLife, Inc. 21,000 959,070 
Microsoft Corp. 6,300 657,909 
Mondelez International, Inc. 30,600 1,415,556 
MyoKardia, Inc. (a) 1,300 53,794 
Noble Energy, Inc. 28,800 643,392 
Northrop Grumman Corp. 2,200 606,210 
Oceaneering International, Inc. (a) 21,100 331,059 
PacWest Bancorp 7,700 297,143 
Party City Holdco, Inc. (a) 36,300 400,752 
Planet Fitness, Inc. (a) 8,700 503,904 
Post Holdings, Inc. (a) 3,000 278,460 
Procter & Gamble Co. 10,000 964,700 
PVH Corp. 2,700 294,597 
Qualcomm, Inc. 9,400 465,488 
Radian Group, Inc. 10,400 200,096 
Radius Health, Inc. (a) 2,500 45,675 
Regal Beloit Corp. 12,500 959,500 
Regeneron Pharmaceuticals, Inc. (a) 2,800 1,201,956 
Rexnord Corp. (a) 12,700 332,105 
Sarepta Therapeutics, Inc. (a) 3,000 419,130 
Spectrum Brands Holdings, Inc. 4,600 257,048 
Starbucks Corp. 7,300 497,422 
Stifel Financial Corp. 3,400 162,758 
Store Capital Corp. 1,600 51,712 
Team, Inc. (a)(c) 11,100 159,174 
The AES Corp. 99,700 1,634,083 
The Chemours Co. LLC 24,200 865,150 
The Mosaic Co. 36,100 1,165,308 
The New York Times Co. Class A 27,900 717,309 
The Walt Disney Co. 3,600 401,472 
Toll Brothers, Inc. 1,200 44,328 
TreeHouse Foods, Inc. (a) 11,900 694,484 
TriMas Corp. (a) 9,400 272,506 
U.S. Bancorp 7,200 368,352 
U.S. Foods Holding Corp. (a) 17,700 596,844 
Ultragenyx Pharmaceutical, Inc. (a) 1,600 78,912 
Umpqua Holdings Corp. 6,700 118,456 
Under Armour, Inc. Class A (sub. vtg.) (a) 100 2,074 
Union Pacific Corp. 2,300 365,861 
Univar, Inc. (a) 12,300 256,209 
Virtusa Corp. (a) 4,900 237,748 
Vistra Energy Corp. (a) 25,300 635,283 
Wells Fargo & Co. 29,400 1,437,954 
WESCO International, Inc. (a) 2,700 141,480 
Whiting Petroleum Corp. (a) 4,900 140,287 
World Fuel Services Corp. 24,100 599,849 
Xilinx, Inc. 4,100 458,954 
Yum China Holdings, Inc. 100 3,645 
Yum! Brands, Inc. 1,300 122,174 
Zimmer Biomet Holdings, Inc. 2,500 273,900 
Zoetis, Inc. Class A 5,000 430,800 
TOTAL UNITED STATES OF AMERICA  56,962,258 
TOTAL COMMON STOCKS   
(Cost $107,210,904)  108,445,099 
Nonconvertible Preferred Stocks - 0.4%   
Brazil - 0.4%   
Banco ABC Brasil SA 14,461 79,101 
Banco do Estado Rio Grande do Sul SA 2,700 17,397 
Companhia Paranaense de Energia-Copel (PN-B) 5,100 49,375 
Itau Unibanco Holding SA 2,400 25,519 
Itausa-Investimentos Itau SA (PN) 89,200 330,171 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $426,749)  501,563 
 Principal Amount Value 
Nonconvertible Bonds - 0.0%   
Canada - 0.0%   
Constellation Software, Inc. Canada Consumer Price Index + 6.500% 8.1% 3/31/40(d)(e) CAD  
(Cost $4,463) CAD 5,600  5,200 
 Shares Value 
Money Market Funds - 0.9%   
Fidelity Cash Central Fund, 2.43% (f) 188,773 188,811 
Fidelity Securities Lending Cash Central Fund 2.43% (f)(g) 753,922 753,997 
TOTAL MONEY MARKET FUNDS   
(Cost $942,700)  942,808 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $108,584,816)  109,894,670 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (317,467) 
NET ASSETS - 100%  $109,577,203 

Currency Abbreviations

CAD – Canadian dollar

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,345,253 or 2.1% of net assets.

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

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

 (e) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

 (f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

Affiliated Central Funds

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 $33,902 
Fidelity Securities Lending Cash Central Fund 1,633 
Total $35,535 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $8,701,648 $8,188,746 $512,902 $-- 
Consumer Discretionary 9,330,678 8,716,050 614,628 -- 
Consumer Staples 8,664,631 6,549,852 2,114,779 -- 
Energy 8,545,719 8,545,719 -- -- 
Financials 19,791,667 16,125,031 3,666,636 -- 
Health Care 16,226,251 13,411,934 2,814,317 -- 
Industrials 13,885,281 13,304,146 581,135 -- 
Information Technology 10,317,307 9,911,744 405,563 -- 
Materials 8,034,380 8,026,753 7,627 -- 
Real Estate 1,916,023 1,702,211 213,812 -- 
Utilities 3,533,077 3,393,121 139,956 -- 
Corporate Bonds 5,200 -- 5,200 -- 
Money Market Funds 942,808 942,808 -- -- 
Total Investments in Securities: $109,894,670 $98,818,115 $11,076,555 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Emerging Asia Fund

January 31, 2019







AEA-QTLY-0319
1.813062.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%   
 Shares Value 
Australia - 1.6%   
Blue Sky Alternative Investments Ltd. (a) 282,448 $145,771 
HUB24 Ltd. 152,852 1,437,739 
Pro Medicus Ltd. 11,900 104,753 
SpeedCast International Ltd. 403,509 853,534 
Woodside Petroleum Ltd. 65,560 1,635,539 
TOTAL AUSTRALIA  4,177,336 
Bermuda - 3.5%   
China Resource Gas Group Ltd. 560,000 2,203,660 
Hongkong Land Holdings Ltd. 551,800 3,956,406 
Tai Cheung Holdings Ltd. 1,275,000 1,322,802 
Vtech Holdings Ltd. 181,100 1,729,891 
TOTAL BERMUDA  9,212,759 
Cayman Islands - 22.2%   
51job, Inc. sponsored ADR (a) 28,000 1,949,920 
Alibaba Group Holding Ltd. sponsored ADR (a) 99,700 16,798,453 
China Biologic Products Holdings, Inc. (a) 9,800 795,662 
Geely Automobile Holdings Ltd. 857,000 1,458,099 
Haitian International Holdings Ltd. 689,000 1,587,155 
International Housewares Retail Co. Ltd. 6,083,900 1,536,320 
NetEase, Inc. ADR 10,700 2,695,651 
Shenzhou International Group Holdings Ltd. 313,000 3,685,686 
SITC International Holdings Co. Ltd. 1,540,000 1,413,958 
Tencent Holdings Ltd. 516,500 22,991,801 
Tencent Music Entertainment Group ADR (a) 132 1,875 
Value Partners Group Ltd. 1,872,000 1,391,204 
ZTO Express (Cayman), Inc. sponsored ADR 144,800 2,478,976 
TOTAL CAYMAN ISLANDS  58,784,760 
China - 16.5%   
China Pacific Insurance (Group) Co. Ltd. (H Shares) 522,800 1,841,001 
Foshan Haitian Flavouring & Food Co. Ltd. Class A 207,888 2,243,061 
Gree Electric Appliances, Inc. of Zhuhai Class A (a) 350,100 2,181,333 
Hangzhou Tigermed Consulting Co. Ltd. Class A 288,372 1,872,042 
Inner Mongoli Yili Industries Co. Ltd. (A Shares) 526,800 1,900,971 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A 113,110 1,595,167 
Kweichow Moutai Co. Ltd. (A Shares) 64,944 6,683,587 
Midea Group Co. Ltd. Class A 365,600 2,375,025 
PICC Property & Casualty Co. Ltd. (H Shares) 1,788,590 1,852,195 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 546,500 5,320,484 
Qingdao Port International Co. Ltd. (a)(b) 3,097,000 1,929,273 
Shanghai International Airport Co. Ltd. (A Shares) 437,200 3,216,625 
Shenzhen Expressway Co. (H Shares) 3,266,000 3,706,012 
Sinopec Engineering Group Co. Ltd. (H Shares) 1,934,500 1,901,553 
Tonghua Dongbao Pharmaceutical Co. Ltd. Class A 976,807 1,632,676 
Yunnan Baiyao Group Co. Ltd. 286,583 3,324,394 
TOTAL CHINA  43,575,399 
Hong Kong - 9.8%   
AIA Group Ltd. 1,365,600 12,330,704 
Dah Sing Banking Group Ltd. 1,174,400 2,297,812 
Hong Kong Exchanges and Clearing Ltd. 108,200 3,385,483 
Power Assets Holdings Ltd. 349,500 2,354,419 
Sino Land Ltd. 1,266,000 2,276,631 
Techtronic Industries Co. Ltd. 578,000 3,374,103 
TOTAL HONG KONG  26,019,152 
India - 17.0%   
Amara Raja Batteries Ltd. 76,362 801,661 
Axis Bank Ltd. (a) 327,230 3,332,710 
Bharti Infratel Ltd. 343,181 1,413,397 
CCL Products (India) Ltd. 437,979 1,654,457 
Future Retail Ltd. (a) 63,797 386,324 
Havells India Ltd. (a) 146,726 1,475,221 
HDFC Asset Management Co. Ltd. (a)(b) 49,696 954,281 
HDFC Bank Ltd. 175,127 5,136,855 
Housing Development Finance Corp. Ltd. 259,806 7,038,304 
Indraprastha Gas Ltd. (a) 955,536 3,818,239 
Oberoi Realty Ltd. 359,207 2,250,865 
Petronet LNG Ltd. 589,733 1,891,949 
Power Grid Corp. of India Ltd. 1,174,432 3,121,447 
Reliance Industries Ltd. 447,896 7,745,710 
TCNS Clothing Co. Ltd. (a)(b) 97,990 1,002,616 
UPL Ltd. (a) 198,911 2,204,672 
VST Industries Ltd. (a) 14,284 647,027 
TOTAL INDIA  44,875,735 
Indonesia - 3.2%   
PT Bank Central Asia Tbk 2,521,600 5,084,708 
PT Bank Rakyat Indonesia Tbk 12,357,300 3,404,946 
TOTAL INDONESIA  8,489,654 
Israel - 0.1%   
Sarine Technologies Ltd. 803,000 274,387 
Japan - 1.4%   
SMC Corp. 5,000 1,640,119 
SoftBank Corp. 25,100 1,976,970 
TOTAL JAPAN  3,617,089 
Korea (South) - 6.7%   
Cafe24 Corp. (a) 10,691 1,062,920 
Cuckoo Holdings Co. Ltd. 8,553 961,072 
Hyundai Fire & Marine Insurance Co. Ltd. 49,864 1,674,191 
KB Financial Group, Inc. 81,277 3,492,945 
LG Chemical Ltd. 6,753 2,233,942 
Samsung Electronics Co. Ltd. 104,400 4,331,113 
SK Hynix, Inc. 60,864 4,043,265 
TOTAL KOREA (SOUTH)  17,799,448 
Malaysia - 0.4%   
Bursa Malaysia Bhd 594,100 1,058,821 
Multi-National - 1.9%   
HKT Trust/HKT Ltd. unit 3,315,500 4,889,583 
Philippines - 1.2%   
Ayala Land, Inc. 3,854,200 3,282,058 
Singapore - 0.8%   
Wing Tai Holdings Ltd. 1,397,800 2,128,577 
Taiwan - 8.4%   
E.SUN Financial Holdings Co. Ltd. 4,164,922 2,920,203 
Taiwan Semiconductor Manufacturing Co. Ltd. 2,250,393 16,699,056 
Voltronic Power Technology Corp. 151,000 2,608,633 
TOTAL TAIWAN  22,227,892 
Thailand - 2.3%   
Bangkok Bank PCL (For. Reg.) 221,600 1,567,657 
Home Product Center PCL (For. Reg.) 4,134,300 2,064,503 
Thai Beverage PCL 4,740,200 2,570,455 
TOTAL THAILAND  6,202,615 
United States of America - 0.6%   
IPG Photonics Corp. (a) 12,100 1,609,300 
TOTAL COMMON STOCKS   
(Cost $196,132,400)  258,224,565 
Nonconvertible Preferred Stocks - 1.2%   
Korea (South) - 1.2%   
Samsung Electronics Co. Ltd.   
(Cost $3,271,485) 92,500 3,118,174 
Money Market Funds - 2.0%   
Fidelity Cash Central Fund, 2.43% (c)   
(Cost $5,206,136) 5,205,205 5,206,246 
TOTAL INVESTMENT IN SECURITIES - 100.8%   
(Cost $204,610,021)  266,548,985 
NET OTHER ASSETS (LIABILITIES) - (0.8)%  (2,014,652) 
NET ASSETS - 100%  $264,534,333 

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $3,886,170 or 1.5% of net assets.

 (c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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 $58,956 
Fidelity Securities Lending Cash Central Fund 19 
Total $58,975 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $34,820,936 $4,962,582 $29,858,354 $-- 
Consumer Discretionary 38,302,510 28,248,302 10,054,208 -- 
Consumer Staples 17,294,725 17,294,725 -- -- 
Energy 11,273,198 11,273,198 -- -- 
Financials 65,668,014 25,699,128 39,968,886 -- 
Health Care 7,729,527 7,729,527 -- -- 
Industrials 22,504,517 9,357,933 13,146,584 -- 
Information Technology 32,595,594 14,164,772 18,430,822 -- 
Materials 4,438,614 4,438,614 -- -- 
Real Estate 15,217,339 11,617,906 3,599,433 -- 
Utilities 11,497,765 6,939,686 4,558,079 -- 
Money Market Funds 5,206,246 5,206,246 -- -- 
Total Investments in Securities: $266,548,985 $146,932,619 $119,616,366 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Value Leaders Fund

January 31, 2019







AVLF-QTLY-0319
1.813052.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.7%   
 Shares Value 
COMMUNICATION SERVICES - 13.6%   
Entertainment - 6.2%   
The Walt Disney Co. 7,800 $869,856 
Twenty-First Century Fox, Inc. Class A 18,600 917,166 
  1,787,022 
Interactive Media & Services - 1.8%   
Alphabet, Inc. Class A (a) 455 512,280 
Media - 5.6%   
Comcast Corp. Class A 36,000 1,316,520 
Interpublic Group of Companies, Inc. 13,100 298,025 
  1,614,545 
TOTAL COMMUNICATION SERVICES  3,913,847 
CONSUMER DISCRETIONARY - 3.5%   
Multiline Retail - 1.8%   
Dollar General Corp. 4,400 507,892 
Textiles, Apparel & Luxury Goods - 1.7%   
PVH Corp. 4,600 501,906 
TOTAL CONSUMER DISCRETIONARY  1,009,798 
CONSUMER STAPLES - 7.3%   
Beverages - 2.0%   
C&C Group PLC 151,802 573,383 
Food Products - 5.3%   
Danone SA 6,700 487,571 
The Hershey Co. 4,900 519,890 
The J.M. Smucker Co. 5,000 524,400 
  1,531,861 
TOTAL CONSUMER STAPLES  2,105,244 
ENERGY - 9.3%   
Energy Equipment & Services - 1.5%   
Baker Hughes, a GE Co. Class A 18,400 433,688 
Oil, Gas & Consumable Fuels - 7.8%   
Exxon Mobil Corp. 14,300 1,047,904 
GasLog Partners LP 18,600 422,034 
Golar LNG Partners LP 30,700 411,380 
Teekay LNG Partners LP 29,000 372,940 
  2,254,258 
TOTAL ENERGY  2,687,946 
FINANCIALS - 24.7%   
Banks - 5.6%   
U.S. Bancorp 12,971 663,596 
Wells Fargo & Co. 19,326 945,235 
  1,608,831 
Capital Markets - 2.5%   
Goldman Sachs Group, Inc. 3,700 732,637 
Diversified Financial Services - 5.2%   
Berkshire Hathaway, Inc. Class B (a) 7,300 1,500,443 
Insurance - 6.2%   
Chubb Ltd. 5,400 718,470 
Prudential PLC 19,373 378,861 
The Travelers Companies, Inc. 5,500 690,470 
  1,787,801 
Mortgage Real Estate Investment Trusts - 5.2%   
AGNC Investment Corp. 29,800 533,718 
Annaly Capital Management, Inc. 55,400 578,376 
MFA Financial, Inc. 52,000 381,160 
  1,493,254 
TOTAL FINANCIALS  7,122,966 
HEALTH CARE - 22.8%   
Biotechnology - 5.2%   
Amgen, Inc. 6,200 1,160,082 
Celgene Corp. (a) 3,900 344,994 
  1,505,076 
Health Care Providers & Services - 12.1%   
Anthem, Inc. 2,600 787,800 
Cigna Corp. 7,000 1,398,670 
CVS Health Corp. 19,600 1,284,780 
  3,471,250 
Pharmaceuticals - 5.5%   
Bayer AG 2,872 217,686 
Bristol-Myers Squibb Co. 7,400 365,338 
Roche Holding AG (participation certificate) 2,440 649,127 
Takeda Pharmaceutical Co. Ltd. ADR 18,218 363,813 
  1,595,964 
TOTAL HEALTH CARE  6,572,290 
INDUSTRIALS - 3.7%   
Aerospace & Defense - 1.3%   
United Technologies Corp. 3,200 377,824 
Air Freight & Logistics - 2.4%   
C.H. Robinson Worldwide, Inc. 8,100 702,837 
TOTAL INDUSTRIALS  1,080,661 
INFORMATION TECHNOLOGY - 4.4%   
IT Services - 4.4%   
Amdocs Ltd. 6,200 346,456 
Cognizant Technology Solutions Corp. Class A 8,000 557,440 
The Western Union Co. 19,200 350,400 
  1,254,296 
MATERIALS - 0.2%   
Chemicals - 0.2%   
LyondellBasell Industries NV Class A 700 60,879 
REAL ESTATE - 4.4%   
Equity Real Estate Investment Trusts (REITs) - 1.5%   
Simon Property Group, Inc. 2,300 418,876 
Real Estate Management & Development - 2.9%   
CBRE Group, Inc. (a) 18,400 841,800 
TOTAL REAL ESTATE  1,260,676 
UTILITIES - 1.8%   
Electric Utilities - 1.8%   
Exelon Corp. 10,700 511,032 
TOTAL COMMON STOCKS   
(Cost $24,625,329)  27,579,635 
Money Market Funds - 3.8%   
Fidelity Cash Central Fund, 2.43% (b)   
(Cost $1,104,901) 1,104,680 1,104,901 
TOTAL INVESTMENT IN SECURITIES - 99.5%   
(Cost $25,730,230)  28,684,536 
NET OTHER ASSETS (LIABILITIES) - 0.5%(c)  146,230 
NET ASSETS - 100%  $28,830,766 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount Value Unrealized Appreciation/(Depreciation) 
Purchased      
Equity Index Contracts      
CME E-mini Russell 1000 Value Index Contracts (United States) 16 March 2019 $941,360 $32,681 $32,681 

The notional amount of futures purchased as a percentage of Net Assets is 3.3%

Legend

 (a) Non-income producing

 (b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (c) Includes $36,000 of cash collateral to cover margin requirements for futures contracts.

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 $5,473 
Total $5,473 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $3,913,847 $3,913,847 $-- $-- 
Consumer Discretionary 1,009,798 1,009,798 -- -- 
Consumer Staples 2,105,244 1,617,673 487,571 -- 
Energy 2,687,946 2,687,946 -- -- 
Financials 7,122,966 6,744,105 378,861 -- 
Health Care 6,572,290 5,705,477 866,813 -- 
Industrials 1,080,661 1,080,661 -- -- 
Information Technology 1,254,296 1,254,296 -- -- 
Materials 60,879 60,879 -- -- 
Real Estate 1,260,676 1,260,676 -- -- 
Utilities 511,032 511,032 -- -- 
Money Market Funds 1,104,901 1,104,901 -- -- 
Total Investments in Securities: $28,684,536 $26,951,291 $1,733,245 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $32,681 $32,681 $-- $-- 
Total Assets $32,681 $32,681 $-- $-- 
Total Derivative Instruments: $32,681 $32,681 $-- $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Emerging Markets Fund

January 31, 2019







FAEM-QTLY-0319
1.813064.114





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.3%   
 Shares Value 
Belgium - 0.8%   
Umicore SA 143,963 $6,086,364 
Bermuda - 1.1%   
Credicorp Ltd. (United States) 32,314 7,845,193 
Brazil - 8.1%   
BM&F BOVESPA SA 1,086,600 9,375,768 
Equatorial Energia SA 209,400 5,061,036 
Localiza Rent A Car SA 659,400 6,020,514 
Lojas Renner SA 552,800 6,896,359 
Notre Dame Intermedica Participacoes SA 668,800 6,157,684 
Rumo SA (a) 1,269,400 6,839,140 
Suzano Papel e Celulose SA 592,200 7,469,072 
Vale SA sponsored ADR 988,700 12,299,428 
TOTAL BRAZIL  60,119,001 
Cayman Islands - 15.3%   
Alibaba Group Holding Ltd. sponsored ADR (a) 228,200 38,449,418 
Huazhu Group Ltd. ADR 217,400 6,902,450 
New Oriental Education & Technology Group, Inc. sponsored ADR (a) 119,400 9,198,576 
Shenzhou International Group Holdings Ltd. 674,500 7,942,477 
TAL Education Group ADR (a) 254,000 7,881,620 
Tencent Holdings Ltd. 977,300 43,504,136 
TOTAL CAYMAN ISLANDS  113,878,677 
Chile - 1.8%   
Banco Santander Chile sponsored ADR 201,500 6,516,510 
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR (b) 153,600 6,552,576 
TOTAL CHILE  13,069,086 
China - 7.1%   
China International Travel Service Corp. Ltd. (A Shares) 468,210 3,808,119 
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A 451,691 6,370,105 
Kweichow Moutai Co. Ltd. (A Shares) 70,875 7,293,965 
Midea Group Co. Ltd. Class A 1,095,238 7,114,928 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 1,478,500 14,394,026 
Shenzhen Inovance Technology Co. Ltd. Class A 1,755,665 5,688,199 
Wuliangye Yibin Co. Ltd. Class A 856,494 7,707,526 
TOTAL CHINA  52,376,868 
France - 3.4%   
Dassault Systemes SA 47,900 6,006,226 
Hermes International SCA 10,538 6,325,205 
Kering SA 13,140 6,580,019 
LVMH Moet Hennessy - Louis Vuitton SA 20,812 6,676,498 
TOTAL FRANCE  25,587,948 
Germany - 0.8%   
Wirecard AG 37,100 6,144,636 
Hong Kong - 0.9%   
AIA Group Ltd. 763,800 6,896,742 
India - 13.9%   
Asian Paints Ltd. 300,539 5,982,827 
Dabur India Ltd. 1,144,500 7,155,544 
Godrej Consumer Products Ltd. 686,739 6,864,487 
HDFC Bank Ltd. 236,272 6,930,371 
Housing Development Finance Corp. Ltd. 488,198 13,225,584 
IndusInd Bank Ltd. 337,201 7,154,354 
Infosys Ltd. sponsored ADR 1,069,800 11,553,840 
Kotak Mahindra Bank Ltd. 392,704 6,949,522 
Maruti Suzuki India Ltd. 87,300 8,170,411 
Reliance Industries Ltd. 781,909 13,521,979 
Tata Consultancy Services Ltd. 373,900 10,612,627 
Titan Co. Ltd. 375,717 5,272,534 
TOTAL INDIA  103,394,080 
Indonesia - 2.4%   
PT Bank Central Asia Tbk 4,570,600 9,216,436 
PT Bank Rakyat Indonesia Tbk 30,920,300 8,519,818 
TOTAL INDONESIA  17,736,254 
Ireland - 0.8%   
Accenture PLC Class A 40,100 6,157,355 
Japan - 0.8%   
Keyence Corp. 12,000 6,153,959 
Korea (South) - 4.9%   
LG Chemical Ltd. 22,772 7,533,145 
LG Household & Health Care Ltd. 7,848 8,924,355 
Samsung Electronics Co. Ltd. 473,741 19,653,504 
TOTAL KOREA (SOUTH)  36,111,004 
Netherlands - 1.8%   
ASML Holding NV (Netherlands) 37,200 6,505,073 
Yandex NV Series A (a) 204,000 6,850,320 
TOTAL NETHERLANDS  13,355,393 
Philippines - 1.9%   
Ayala Land, Inc. 8,551,400 7,281,975 
SM Prime Holdings, Inc. 9,320,200 6,810,503 
TOTAL PHILIPPINES  14,092,478 
Russia - 5.2%   
Alrosa Co. Ltd. 4,324,000 6,519,404 
Lukoil PJSC sponsored ADR 144,000 11,548,800 
NOVATEK OAO GDR (Reg. S) 47,777 8,767,080 
Sberbank of Russia 3,607,990 12,060,417 
TOTAL RUSSIA  38,895,701 
South Africa - 6.0%   
Capitec Bank Holdings Ltd. 74,400 6,541,366 
FirstRand Ltd. 1,637,900 8,568,759 
Mondi Ltd. 282,620 6,991,269 
Naspers Ltd. Class N 98,600 22,598,737 
TOTAL SOUTH AFRICA  44,700,131 
Spain - 0.8%   
Amadeus IT Holding SA Class A 84,100 6,110,639 
Sweden - 0.8%   
Hexagon AB (B Shares) 124,900 6,095,679 
Switzerland - 0.8%   
Sika AG 47,303 6,231,277 
Taiwan - 7.3%   
E.SUN Financial Holdings Co. Ltd. 9,676,000 6,784,253 
Formosa Chemicals & Fibre Corp. 2,118,000 7,373,463 
Formosa Plastics Corp. 2,270,000 7,599,180 
Taiwan Semiconductor Manufacturing Co. Ltd. 4,391,000 32,583,444 
TOTAL TAIWAN  54,340,340 
United Arab Emirates - 1.1%   
National Bank of Abu Dhabi PJSC 1,936,305 7,770,207 
United Kingdom - 0.9%   
NMC Health PLC 192,029 6,488,048 
United States of America - 7.6%   
Adobe, Inc. (a) 24,700 6,121,154 
HEICO Corp. Class A 92,650 6,488,280 
MasterCard, Inc. Class A 29,900 6,312,787 
MercadoLibre, Inc. 17,800 6,479,200 
Microsoft Corp. 56,500 5,900,295 
Moody's Corp. 38,700 6,134,337 
Thermo Fisher Scientific, Inc. 23,800 5,846,946 
TransDigm Group, Inc. (a) 17,300 6,764,300 
Visa, Inc. Class A 44,600 6,021,446 
TOTAL UNITED STATES OF AMERICA  56,068,745 
TOTAL COMMON STOCKS   
(Cost $585,655,113)  715,705,805 
Nonconvertible Preferred Stocks - 3.8%   
Brazil - 3.8%   
Itau Unibanco Holding SA 1,316,980 14,003,204 
Petroleo Brasileiro SA - Petrobras sponsored ADR 875,900 14,277,170 
TOTAL BRAZIL   
(Cost $20,870,074)  28,280,374 
Money Market Funds - 3.6%   
Fidelity Cash Central Fund, 2.43% (c) 20,146,961 20,150,990 
Fidelity Securities Lending Cash Central Fund 2.43% (c)(d) 6,656,501 6,657,166 
TOTAL MONEY MARKET FUNDS   
(Cost $26,808,156)  26,808,156 
TOTAL INVESTMENT IN SECURITIES - 103.7%   
(Cost $633,333,343)  770,794,335 
NET OTHER ASSETS (LIABILITIES) - (3.7)%  (27,533,024) 
NET ASSETS - 100%  $743,261,311 

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

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

 (c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

Affiliated Central Funds

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 $29,564 
Fidelity Securities Lending Cash Central Fund 77,765 
Total $107,329 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $72,953,193 $29,449,057 $43,504,136 $-- 
Consumer Discretionary 127,697,814 113,078,839 14,618,975 -- 
Consumer Staples 44,315,982 44,315,982 -- -- 
Energy 48,115,029 48,115,029 -- -- 
Financials 158,886,867 111,821,058 47,065,809 -- 
Health Care 18,492,678 18,492,678 -- -- 
Industrials 31,800,433 31,800,433 -- -- 
Information Technology 141,932,664 102,844,147 39,088,517 -- 
Materials 80,638,005 59,578,998 21,059,007 -- 
Real Estate 14,092,478 14,092,478 -- -- 
Utilities 5,061,036 5,061,036 -- -- 
Money Market Funds 26,808,156 26,808,156 -- -- 
Total Investments in Securities: $770,794,335 $605,457,891 $165,336,444 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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


Quarterly Holdings Report
for

Fidelity Advisor® Global Equity Income Fund

January 31, 2019







AGED-QTLY-0319
1.938156.106





Schedule of Investments January 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.9%   
 Shares Value 
Bailiwick of Jersey - 0.8%   
Ferguson PLC 1,123 $75,031 
WPP PLC 5,207 59,586 
TOTAL BAILIWICK OF JERSEY  134,617 
Belgium - 0.8%   
KBC Groep NV 2,111 143,235 
Bermuda - 0.9%   
Hiscox Ltd. 3,196 59,441 
IHS Markit Ltd. (a) 1,959 101,711 
TOTAL BERMUDA  161,152 
Canada - 4.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 2,197 119,351 
Constellation Software, Inc. 344 256,732 
Fairfax Financial Holdings Ltd. (sub. vtg.) 93 43,993 
Imperial Oil Ltd. 3,635 103,134 
Suncor Energy, Inc. 7,385 238,195 
TOTAL CANADA  761,405 
Cayman Islands - 0.8%   
Best Pacific International Holdings Ltd. 36,000 8,684 
SITC International Holdings Co. Ltd. 123,000 112,933 
Value Partners Group Ltd. 14,000 10,404 
TOTAL CAYMAN ISLANDS  132,021 
China - 0.4%   
Kweichow Moutai Co. Ltd. (A Shares) 400 41,165 
Shanghai International Airport Co. Ltd. (A Shares) 3,634 26,737 
Zhengzhou Yutong Bus Co. Ltd. 2,700 4,662 
TOTAL CHINA  72,564 
France - 2.7%   
Amundi SA (b) 855 49,127 
Bouygues SA 556 19,677 
Compagnie de St. Gobain 2,252 77,712 
Edenred SA 561 22,757 
Sanofi SA 1,853 161,059 
VINCI SA 1,467 129,082 
TOTAL FRANCE  459,414 
Germany - 2.4%   
Deutsche Post AG 2,797 82,613 
Hannover Reuck SE 550 79,258 
Linde PLC 576 93,421 
SAP SE 1,463 151,282 
TOTAL GERMANY  406,574 
Hong Kong - 1.0%   
AIA Group Ltd. 7,800 70,430 
Techtronic Industries Co. Ltd. 17,500 102,157 
TOTAL HONG KONG  172,587 
India - 1.1%   
HDFC Asset Management Co. Ltd. (a)(b) 1,000 19,202 
HDFC Bank Ltd. sponsored ADR 500 49,110 
Housing Development Finance Corp. Ltd. 1,500 40,636 
Reliance Industries Ltd. 4,200 72,633 
TOTAL INDIA  181,581 
Ireland - 1.1%   
Accenture PLC Class A 1,229 188,713 
Israel - 0.2%   
Ituran Location & Control Ltd. 881 29,029 
Japan - 7.4%   
A/S One Corp. 400 28,019 
Aucnet, Inc. 2,300 18,455 
Broadleaf Co. Ltd. 5,500 28,074 
Daiichikosho Co. Ltd. 6,100 287,849 
Hoya Corp. 5,300 306,444 
Inaba Denki Sangyo Co. Ltd. 2,000 77,944 
Japan Meat Co. Ltd. 5,100 78,941 
Minebea Mitsumi, Inc. 5,900 96,523 
Mitani Shoji Co. Ltd. 1,100 54,836 
Nippon Telegraph & Telephone Corp. 2,200 94,574 
Nitori Holdings Co. Ltd. 200 26,000 
Sony Corp. 2,200 110,235 
Tsuruha Holdings, Inc. 800 73,739 
TOTAL JAPAN  1,281,633 
Kenya - 0.5%   
Safaricom Ltd. 395,500 93,578 
Liberia - 0.2%   
Royal Caribbean Cruises Ltd. 334 40,097 
Luxembourg - 0.5%   
B&M European Value Retail S.A. 20,900 88,871 
Multi-National - 0.8%   
HKT Trust/HKT Ltd. unit 93,280 137,566 
Netherlands - 2.5%   
LyondellBasell Industries NV Class A 1,562 135,847 
NXP Semiconductors NV 911 79,284 
Unilever NV (Certificaten Van Aandelen) (Bearer) 4,148 222,126 
TOTAL NETHERLANDS  437,257 
Norway - 0.8%   
Equinor ASA 5,649 129,136 
Spain - 1.0%   
Amadeus IT Holding SA Class A 600 43,596 
CaixaBank SA 13,200 49,922 
Prosegur Cash SA (b) 33,900 79,350 
TOTAL SPAIN  172,868 
Sweden - 0.7%   
AddTech AB (B Shares) 1,460 28,754 
HEXPOL AB (B Shares) 2,200 19,463 
Loomis AB (B Shares) 1,570 56,183 
Radisson Hospitality AB (a) 5,100 23,898 
TOTAL SWEDEN  128,298 
Switzerland - 4.3%   
Banque Cantonale Vaudoise 120 95,088 
Chubb Ltd. 954 126,930 
Nestle SA (Reg. S) 3,571 311,334 
Roche Holding AG (participation certificate) 795 211,498 
TOTAL SWITZERLAND  744,850 
Taiwan - 1.2%   
Taiwan Semiconductor Manufacturing Co. Ltd. 29,000 215,195 
United Kingdom - 11.0%   
AstraZeneca PLC sponsored ADR 5,055 184,912 
BP PLC 20,767 141,862 
British American Tobacco PLC (United Kingdom) 4,658 164,195 
Bunzl PLC 4,183 131,674 
Cineworld Group PLC 14,049 48,094 
Compass Group PLC 4,106 87,809 
Cranswick PLC 1,210 45,770 
GlaxoSmithKline PLC 7,320 142,188 
Hastings Group Holdings PLC (b) 18,922 52,068 
Hilton Food Group PLC 13,481 164,086 
Imperial Tobacco Group PLC 3,114 103,129 
Micro Focus International PLC 9,747 185,828 
Moneysupermarket.com Group PLC 23,501 93,396 
Nielsen Holdings PLC 2,036 52,284 
Reckitt Benckiser Group PLC 1,430 110,031 
Rolls-Royce Holdings PLC 3,153 36,649 
St. James's Place Capital PLC 6,761 83,179 
Standard Life PLC 19,595 64,676 
TOTAL UNITED KINGDOM  1,891,830 
United States of America - 50.4%   
Altria Group, Inc. 2,661 131,320 
Ameren Corp. 1,319 91,459 
American Tower Corp. 2,319 400,816 
AMETEK, Inc. 2,964 216,076 
Amgen, Inc. 1,752 327,817 
Apple, Inc. 3,084 513,301 
Bank of America Corp. 12,992 369,882 
Becton, Dickinson & Co. 874 218,028 
Bristol-Myers Squibb Co. 2,110 104,171 
Capital One Financial Corp. 2,409 194,141 
Charter Communications, Inc. Class A (a) 250 82,763 
Chevron Corp. 2,929 335,810 
Citigroup, Inc. 4,156 267,896 
Comcast Corp. Class A 3,874 141,672 
ConocoPhillips Co. 4,367 295,602 
Danaher Corp. 1,298 143,974 
Delek U.S. Holdings, Inc. 1,100 35,761 
Diamond Hill Investment Group, Inc. 265 41,075 
DowDuPont, Inc. 2,817 151,583 
Eli Lilly & Co. 889 106,556 
Exxon Mobil Corp. 2,326 170,449 
Fortive Corp. 1,113 83,464 
General Dynamics Corp. 400 68,468 
General Electric Co. 7,524 76,444 
Interpublic Group of Companies, Inc. 2,834 64,474 
Johnson & Johnson 2,011 267,624 
JPMorgan Chase & Co. 3,105 321,368 
Lowe's Companies, Inc. 1,633 157,029 
MetLife, Inc. 1,485 67,820 
Microsoft Corp. 5,469 571,131 
MSCI, Inc. 468 79,686 
Northrop Grumman Corp. 248 68,336 
NRG Energy, Inc. 1,430 58,501 
PepsiCo, Inc. 1,779 200,440 
Philip Morris International, Inc. 1,073 82,321 
Phillips 66 Co. 927 88,445 
Qualcomm, Inc. 889 44,023 
S&P Global, Inc. 455 87,201 
SunTrust Banks, Inc. 3,282 195,016 
The Coca-Cola Co. 4,341 208,932 
The J.M. Smucker Co. 927 97,224 
The Travelers Companies, Inc. 523 65,657 
The Walt Disney Co. 1,001 111,632 
U.S. Bancorp 4,654 238,099 
United Technologies Corp. 1,043 123,147 
UnitedHealth Group, Inc. 980 264,796 
Valero Energy Corp. 1,255 110,214 
Verizon Communications, Inc. 4,982 274,309 
Wells Fargo & Co. 5,997 293,313 
TOTAL UNITED STATES OF AMERICA  8,709,266 
TOTAL COMMON STOCKS   
(Cost $14,493,722)  16,913,337 
Nonconvertible Preferred Stocks - 1.2%   
Brazil - 0.7%   
Itau Unibanco Holding SA 10,800 114,834 
Spain - 0.5%   
Grifols SA Class B 5,000 93,583 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $181,917)  208,417 
 Principal Amount Value 
Nonconvertible Bonds - 0.0%   
Canada - 0.0%   
Constellation Software, Inc. Canada Consumer Price Index + 6.500% 8.1% 3/31/40 (c)(d)
(Cost $429) 
CAD 500 464 
 Shares Value 
Money Market Funds - 0.9%   
Fidelity Cash Central Fund, 2.43% (e)   
(Cost $150,848) 150,818 150,848 
TOTAL INVESTMENT IN SECURITIES - 100.0%   
(Cost $14,826,916)  17,273,066 
NET OTHER ASSETS (LIABILITIES) - 0.0%  5,692 
NET ASSETS - 100%  $17,278,758 

Currency Abbreviations

CAD – Canadian dollar

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $199,747 or 1.2% of net assets.

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

 (d) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

 (e) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

Affiliated Central Funds

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 $2,960 
Total $2,960 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of January 31, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $1,396,097 $1,104,371 $291,726 $-- 
Consumer Discretionary 756,631 535,555 221,076 -- 
Consumer Staples 2,154,104 1,346,418 807,686 -- 
Energy 1,721,241 1,579,379 141,862 -- 
Financials 3,452,037 3,321,281 130,756 -- 
Health Care 2,560,669 1,952,341 608,328 -- 
Industrials 1,823,697 1,384,708 438,989 -- 
Information Technology 2,306,188 1,753,883 552,305 -- 
Materials 400,314 400,314 -- -- 
Real Estate 400,816 400,816 -- -- 
Utilities 149,960 149,960 -- -- 
Corporate Bonds 464 -- 464 -- 
Money Market Funds 150,848 150,848 -- -- 
Total Investments in Securities: $17,273,066 $14,079,874 $3,193,192 $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





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

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



Item 2.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series VIIIs (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 Trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trusts last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trusts 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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

March 29, 2019


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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

March 29, 2019



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer



Date:

March 29, 2019