Semi-Annual Report and Accounts - chartbook.fid-intl.com

Fidelity
Funds
Global High Yield Focus Fund 4 - continued
Schedule of Investments as at 31 October 2012
Country Ccy Shares or Market % Net
Code Nominal Value Assets
USD
Taminco Global Chemical 9.75% 31/03/2020 144A US USD 181,259 197,690 0.36
Berry Plastics 8.25% 15/11/2015 US USD 181,259 190,096 0.35
Calcipar 6.875% 01/05/2018 144A LU USD 181,259 183,978 0.34
FMG Resources 6.375% 01/02/2016 144A AU USD 181,259 181,531 0.33
3,218,356 5.93
Industrials
USG 8.375% 15/10/2018 144A US USD 362,518 399,677 0.74
HD Supply 8.125% 15/04/2019 144A US USD 226,574 250,364 0.46
Rexel 6.125% 15/12/2019 144A FR USD 226,574 235,071 0.43
Schaeffler Finance 8.50% 15/02/2019 144A NL USD 181,259 203,962 0.38
Coleman Cable 9.00% 15/02/2018 US USD 181,259 194,854 0.36
Navios Maritime 8.875% 01/11/2017 MH USD 181,259 184,884 0.34
1,468,812 2.70
Information Technology
First Data 7.375% 15/06/2019 144A US USD 498,463 518,725 0.96
Cequel Communications 6.375% 15/09/2020 144A US USD 362,518 368,409 0.68
Freescale Semiconductor 9.25% 15/04/2018 144A US USD 271,889 291,941 0.54
Hughes Satelite Systems 6.50% 15/06/2019 US USD 181,259 195,080 0.36
Ceridian 11.25% 15/11/2015 US USD 181,259 177,757 0.33
WideOpenWest 10.25% 15/07/2019 144A US USD 99,693 105,425 0.19
1,657,337 3.05
Consumer Discretionary
Jaguar Land Rover 8.125% 15/05/2018 Reg S GB GBP 181,259 318,531 0.59
Zayo Group 10.125% 01/07/2020 US USD 271,889 305,195 0.56
Clear Channel Worldwide (B) 9.25% 15/12/2017 US USD 249,231 267,924 0.49
Ferrellgas 6.50% 01/05/2021 US USD 271,889 264,589 0.49
Reynolds Group Issuer 5.75% 15/10/2020 144A US USD 244,700 248,065 0.46
J.B. Poindexter & Co 9.00% 01/04/2022 144A US USD 226,574 233,371 0.43
MDC Partners 11.00% 01/11/2016 CA USD 181,259 198,479 0.37
Cequel Comm. Holdings 8.625% 15/11/2017 144A US USD 181,259 194,401 0.36
Libbey Glass 6.875% 15/05/2020 144A US USD 181,259 193,947 0.36
Reynolds Group Issuer 6.875% 15/02/2021 US USD 181,259 193,721 0.36
2,418,223 4.45
Consumer Staples
Rite Aid 9.25% 15/03/2020 US USD 262,826 268,739 0.49
Agrokor DD 8.875% 01/02/2020 144A HR USD 226,574 234,930 0.43
JBS USA 8.25% 01/02/2020 144A US USD 181,259 188,510 0.35
692,179 1.27
Healthcare
Valeant Pharmaceuticals 7.25% 15/07/2022 144A US USD 407,833 442,499 0.81
HCA Holdings 7.75% 15/05/2021 US USD 317,204 341,390 0.63
Community Health Systems 8.00% 15/11/2019 US USD 181,259 195,943 0.36
Elan Finance 6.25% 15/10/2019 144A IE USD 181,259 183,752 0.34
VPI Escrow 6.375% 15/10/2020 144A US USD 149,539 157,577 0.29
1,321,161 2.43
Telecommunication Services
Intelsat Jackson Holdings 7.50% 01/04/2021 LU USD 543,778 584,561 1.08
Crown Castle International 5.25% 15/01/2023 144A US USD 362,518 377,926 0.70
Telesat (Canada) (L) 6.00% 15/05/2017 144A CA USD 321,735 337,141 0.62
Colombia Telecom. 5.375% 27/09/2022 Reg S CO USD 271,889 279,026 0.51
Cricket Communications 7.75% 15/10/2020 US USD 226,574 233,938 0.43
Clearwire Communications 12.00% 01/12/2017 144A US USD 181,259 201,198 0.37
Cricket Communications 7.75% 15/05/2016 US USD 181,259 191,908 0.35
Consolidated Comm. Finance 10.875% 01/06/2020 144A US USD 163,133 174,960 0.32
Intelsat Luxembourg 11.25% 04/02/2017 LU USD 90,630 95,501 0.18
2,476,159 4.56
Financials
Smurfit Kappa Acquisitions 4.875% 15/09/2018 144A IE USD 453,148 455,414 0.84
Zhaikmunai 10.50% 19/10/2015 Reg S KZ USD 317,204 348,131 0.64
NSG Holdings 7.75% 15/12/2025 144A US USD 317,204 328,786 0.61
Rearden G Holdings EINS 7.875% 30/03/2020 144A DE USD 226,574 252,858 0.47
UPCB Finance III 6.625% 01/07/2020 144A KY USD 226,574 242,930 0.45
Banco BMG 8.00% 15/04/2018 Reg S BR USD 249,231 236,770 0.44
Intesa Sanpaolo 6.50% 24/02/2021 144A IT USD 226,574 232,801 0.43
Ally Financial 8.00% 01/11/2031 (Guaranteed) US USD 181,259 215,041 0.40
TransUnion 11.375% 15/06/2018 US USD 181,259 211,167 0.39
Omega Healthcare Investors 6.75% 15/10/2022 US USD 181,259 198,026 0.36
Icahn Enterprises Finance 8.00% 15/01/2018 US USD 181,259 195,647 0.36
CCO Holdings Capital 6.50% 30/04/2021 US USD 181,259 192,815 0.36
EP Energy 9.375% 01/05/2020 144A US USD 158,602 176,841 0.33
Boats Investments (NL) 11.00% 31/03/2017 EMTN NL EUR 82,278 54,887 0.10
3,342,114 6.15
Government
US Treasury 0.875% 31/01/2017 US USD 951,611 962,317 1.77
962,317 1.77
246
Unlisted
Energy
RDS Ultra-Deepwater 11.875% 15/03/2017 144A KY USD 181,259 205,729 0.38
205,729 0.38
Utilities
Suburban Propane Partners 7.375% 01/08/2021 Reg S US USD 171,290 185,414 0.34
185,414 0.34
Materials
Nufarm Australia Limited 6.375% 15/10/2019 144A AU USD 317,204 320,296 0.59
Edgen Murray 8.75% 01/11/2020 144A US USD 63,441 63,124 0.12
383,420 0.71
Industrials
Shale-Inland Holdings 8.75% 15/11/2019 144A US USD 271,889 272,569 0.50
Tervita 9.75% 01/11/2019 144A CA USD 135,944 135,265 0.25
407,834 0.75
Information Technology
Nuance Communications 5.375% 15/08/2020 144A US USD 362,518 371,128 0.68
371,128 0.68
Consumer Discretionary
Bon-Ton Dept Stores 10.625% 15/07/2017 144A US USD 244,700 223,900 0.41
Tower Automotive Holdings 10.625% 01/09/2017 144A US USD 31,720 34,337 0.06
258,237 0.48
Telecommunication Services
Sprint Nextel 7.00% 01/03/2020 144A US USD 543,778 631,462 1.16
Broadview Networks 11.375% 01/09/2012 (Defaulted) US USD 158,602 113,797 0.21
745,259 1.37
Fractions (6) (0.00)
Total Investments (Cost USD 48,669,694) 50,277,713 92.59
Credit Default Swaps
Ccy Underlying Unrealised % Net
exposure gain / (loss) Assets
USD
Bought protection on Generali Finance 20/06/2017 EUR 589,093 48,308 0.09
Bought protection on Spain 5.50% 20/12/2017 USD 362,518 32,314 0.06
Bought protection on Itraxx Xover 20/12/2017 EUR 1,359,444 15,623 0.03
Bought protection on Ineos Group 7.875% 20/12/2015 EUR 249,231 (6,668) (0.01)
Sold protection on CDX.NA.HY 20/12/2017 USD 3,443,925 (30,159) (0.06)
59,418 0.11
Forward Foreign Exchange Contracts
Country Ccy Shares or Market % Net
Code Nominal Value Assets
USD
Underlying Unrealised % Net
exposure gain / (loss) Assets
USD USD
Bought EUR Sold USD at 0.80852 20/11/2012 275,749 13,494 0.02
Bought USD Sold EUR at 1.31524 20/11/2012 892,420 12,306 0.02
Bought EUR Sold USD at 0.79469 20/11/2012 302,216 9,367 0.02
Bought EUR Sold USD at 0.80115 20/11/2012 204,754 8,063 0.01
Bought EUR Sold USD at 0.79631 20/11/2012 241,281 7,985 0.01
Bought EUR Sold USD at 0.79625 20/11/2012 232,194 7,665 0.01
Bought USD Sold EUR at 1.30701 20/11/2012 805,412 5,997 0.01
Bought USD Sold GBP at 1.62456 20/11/2012 600,808 4,321 0.01
Bought USD Sold EUR at 1.30689 20/11/2012 505,587 3,716 0.01
Bought EUR Sold USD at 0.77611 20/11/2012 349,153 2,406 0.00
Bought USD Sold GBP at 1.62372 20/11/2012 302,597 2,019 0.00
Bought USD Sold GBP at 1.61941 20/11/2012 502,866 2,011 0.00
Bought USD Sold EUR at 1.30792 20/11/2012 243,387 1,982 0.00
Bought EUR Sold USD at 0.77703 20/11/2012 192,449 1,555 0.00
Bought USD Sold EUR at 1.30118 20/11/2012 379,778 1,122 0.00
Bought EUR Sold USD at 0.77257 20/11/2012 186,522 428 0.00
Bought EUR Sold USD at 0.77164 20/11/2012 337,084 366 0.00
Bought CHF Sold USD at 0.93174 20/11/2012 172,167 309 0.00
Bought EUR Sold USD at 0.77201 20/11/2012 151,439 237 0.00
Bought USD Sold GBP at 1.61351 20/11/2012 203,193 70 0.00
Bought EUR Sold USD at 0.77074 20/11/2012 550,312 (46) (0.00)
Bought GBP Sold USD at 0.61973 20/11/2012 166,715 (67) (0.00)
Bought USD Sold EUR at 1.29505 20/11/2012 176,368 (313) (0.00)
Bought USD Sold EUR at 1.29538 20/11/2012 250,442 (380) (0.00)
Bought USD Sold GBP at 1.61095 20/11/2012 356,684 (446) (0.00)