UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03010
Fidelity Advisor Series VII
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, 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: | July 31 |
Date of reporting period: | January 31, 2024 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
AbbVie, Inc. | 23.7 | |
Amgen, Inc. | 13.4 | |
Regeneron Pharmaceuticals, Inc. | 8.2 | |
Cytokinetics, Inc. | 3.7 | |
Ascendis Pharma A/S sponsored ADR | 3.7 | |
Alnylam Pharmaceuticals, Inc. | 3.5 | |
Gilead Sciences, Inc. | 3.5 | |
Vaxcyte, Inc. | 2.5 | |
Argenx SE ADR | 2.4 | |
Sarepta Therapeutics, Inc. | 1.6 | |
66.2 | ||
Industries (% of Fund's net assets) | ||
Biotechnology | 94.5 | |
Pharmaceuticals | 3.6 | |
Health Care Providers & Services | 0.2 | |
Health Care Technology | 0.2 | |
Financial Services | 0.1 | |
Common Stocks - 96.6% | |||
Shares | Value ($) | ||
Biotechnology - 93.0% | |||
Biotechnology - 93.0% | |||
AbbVie, Inc. | 2,429,180 | 399,357,190 | |
Acelyrin, Inc. (a) | 764,147 | 5,822,800 | |
Aerovate Therapeutics, Inc. (a)(b) | 224,000 | 4,325,440 | |
Allakos, Inc. (b) | 1,918,400 | 2,436,368 | |
Allogene Therapeutics, Inc. (b) | 526,700 | 1,853,984 | |
Alnylam Pharmaceuticals, Inc. (b) | 342,486 | 59,219,254 | |
ALX Oncology Holdings, Inc. (a)(b) | 649,295 | 9,356,341 | |
Amgen, Inc. | 718,103 | 225,671,049 | |
Annexon, Inc. (b) | 1,315,548 | 5,466,102 | |
Apogee Therapeutics, Inc. (a) | 470,123 | 15,749,121 | |
Arcellx, Inc. (b) | 220,700 | 13,648,088 | |
Argenx SE ADR (b) | 104,900 | 39,915,499 | |
Arrowhead Pharmaceuticals, Inc. (b) | 399,890 | 12,836,469 | |
Ascendis Pharma A/S sponsored ADR (a)(b) | 474,825 | 61,694,012 | |
Astria Therapeutics, Inc. (b) | 1,069,551 | 13,936,250 | |
Astria Therapeutics, Inc. warrants (b)(c) | 247,630 | 2 | |
AVROBIO, Inc. (c)(d)(e) | 136,300 | 1,689,995 | |
Blueprint Medicines Corp. (b) | 223,626 | 17,784,976 | |
BridgeBio Pharma, Inc. (e) | 393,764 | 13,502,168 | |
Cargo Therapeutics, Inc. | 189,051 | 4,161,013 | |
Celldex Therapeutics, Inc. (b) | 513,652 | 18,090,823 | |
Cogent Biosciences, Inc. (b) | 1,198,600 | 5,309,798 | |
Crinetics Pharmaceuticals, Inc. (b) | 576,300 | 21,023,424 | |
Cytokinetics, Inc. (b) | 805,171 | 62,908,010 | |
Dianthus Therapeutics, Inc. (b) | 197,696 | 3,756,224 | |
Dianthus Therapeutics, Inc. (unlisted) (e) | 302,966 | 5,468,536 | |
Exact Sciences Corp. (b) | 105,000 | 6,867,000 | |
Fusion Pharmaceuticals, Inc. (b) | 646,714 | 7,514,817 | |
Fusion Pharmaceuticals, Inc. (e) | 505,596 | 5,875,026 | |
Gilead Sciences, Inc. | 742,750 | 58,127,615 | |
Insmed, Inc. (b) | 381,000 | 10,591,800 | |
Janux Therapeutics, Inc. (a)(b) | 391,585 | 3,351,968 | |
Keros Therapeutics, Inc. (b) | 409,600 | 22,675,456 | |
Kymera Therapeutics, Inc. (b) | 9,900 | 324,522 | |
Madrigal Pharmaceuticals, Inc. (a)(b) | 53,400 | 11,572,314 | |
Monte Rosa Therapeutics, Inc. (a)(b) | 632,258 | 3,347,806 | |
Moonlake Immunotherapeutics (a)(b) | 204,962 | 11,453,277 | |
Morphic Holding, Inc. (b) | 217,512 | 6,892,955 | |
Neurocrine Biosciences, Inc. (b) | 30,900 | 4,318,893 | |
Nuvalent, Inc. Class A (b) | 338,477 | 25,443,316 | |
ORIC Pharmaceuticals, Inc. (a)(b) | 581,716 | 6,393,059 | |
Regeneron Pharmaceuticals, Inc. (b) | 146,800 | 138,400,104 | |
Revolution Medicines, Inc. (b) | 456,000 | 12,654,000 | |
Sarepta Therapeutics, Inc. (b) | 221,100 | 26,308,689 | |
Scholar Rock Holding Corp. (a)(b) | 1,257,080 | 17,536,266 | |
Scholar Rock Holding Corp. warrants 12/31/25 (b)(e) | 6,000 | 45,931 | |
Shattuck Labs, Inc. (a)(b) | 1,398,244 | 13,199,423 | |
Spyre Therapeutics, Inc. (b) | 24,000 | 621,840 | |
Spyre Therapeutics, Inc. (e) | 455,168 | 11,203,733 | |
Tango Therapeutics, Inc. (a)(b) | 406,869 | 4,780,711 | |
Tango Therapeutics, Inc. (e) | 317,852 | 3,734,761 | |
Tyra Biosciences, Inc. (a)(b) | 604,900 | 8,105,660 | |
Vaxcyte, Inc. (b) | 598,729 | 42,761,225 | |
Verve Therapeutics, Inc. (a)(b) | 374,194 | 4,048,779 | |
Viking Therapeutics, Inc. (a)(b) | 705,587 | 17,032,870 | |
Viridian Therapeutics, Inc. (a)(b) | 1,284,907 | 24,734,460 | |
Xenon Pharmaceuticals, Inc. (b) | 495,158 | 22,391,045 | |
Zentalis Pharmaceuticals, Inc. (a)(b) | 613,646 | 7,271,705 | |
1,564,563,962 | |||
Pharmaceuticals - 3.6% | |||
Pharmaceuticals - 3.6% | |||
Afferent Pharmaceuticals, Inc. rights 12/31/24 (b)(c) | 1,915,787 | 383,157 | |
Amylyx Pharmaceuticals, Inc. (b) | 260,100 | 4,161,600 | |
CymaBay Therapeutics, Inc. (b) | 230,000 | 5,407,300 | |
Edgewise Therapeutics, Inc. (b) | 566,300 | 10,097,129 | |
Enliven Therapeutics, Inc. (a)(b) | 676,113 | 10,614,974 | |
Enliven Therapeutics, Inc. rights (b)(c) | 739,725 | 7 | |
Ikena Oncology, Inc. (b) | 1,208,666 | 1,619,612 | |
Intra-Cellular Therapies, Inc. (b) | 110,600 | 7,447,804 | |
Longboard Pharmaceuticals, Inc. (b) | 339,270 | 7,206,095 | |
Neumora Therapeutics, Inc. (a) | 306,900 | 4,572,810 | |
Structure Therapeutics, Inc. ADR | 224,700 | 9,801,414 | |
61,311,902 | |||
TOTAL COMMON STOCKS (Cost $1,064,917,538) | 1,625,875,864 | ||
Convertible Preferred Stocks - 2.0% | |||
Shares | Value ($) | ||
Biotechnology - 1.5% | |||
Biotechnology - 1.5% | |||
Bright Peak Therapeutics AG Series B (b)(c)(e) | 1,920,122 | 3,187,403 | |
Fog Pharmaceuticals, Inc. Series D (b)(c)(e) | 239,281 | 1,447,650 | |
LifeMine Therapeutics, Inc. Series C (b)(c)(e) | 1,950,028 | 3,685,553 | |
Rapport Therapeutics, Inc. Series B (c)(e) | 1,430,189 | 2,602,944 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B (b)(c)(e) | 1,967,762 | 5,431,023 | |
Series B1 (b)(c)(e) | 1,049,456 | 3,284,797 | |
T-Knife Therapeutics, Inc. Series B (b)(c)(e) | 1,300,097 | 5,135,383 | |
Treeline Biosciences Series A (b)(c)(e) | 47,600 | 371,280 | |
25,146,033 | |||
Financial Services - 0.1% | |||
Diversified Financial Services - 0.1% | |||
Kartos Therapeutics, Inc. Series C (c)(e) | 530,692 | 3,014,331 | |
Health Care Providers & Services - 0.2% | |||
Health Care Facilities - 0.2% | |||
Boundless Bio, Inc. Series B (b)(c)(e) | 3,703,704 | 3,370,371 | |
Health Care Technology - 0.2% | |||
Health Care Technology - 0.2% | |||
Wugen, Inc. Series B (b)(c)(e) | 580,277 | 3,290,171 | |
Pharmaceuticals - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Afferent Pharmaceuticals, Inc. Series C (b)(c)(e) | 1,915,787 | 19 | |
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $43,818,204) | 34,820,925 | ||
Money Market Funds - 7.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (f) | 21,885,142 | 21,889,519 | |
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g) | 109,057,905 | 109,068,811 | |
TOTAL MONEY MARKET FUNDS (Cost $130,954,207) | 130,958,330 | ||
TOTAL INVESTMENT IN SECURITIES - 106.4% (Cost $1,239,689,949) | 1,791,655,119 |
NET OTHER ASSETS (LIABILITIES) - (6.4)% | (108,446,215) |
NET ASSETS - 100.0% | 1,683,208,904 |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Level 3 security |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $76,341,075 or 4.5% of net assets. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Afferent Pharmaceuticals, Inc. Series C | 7/01/15 | 0 |
AVROBIO, Inc. | 1/30/24 | 1,689,995 |
Boundless Bio, Inc. Series B | 4/23/21 | 5,000,000 |
BridgeBio Pharma, Inc. | 9/25/23 | 10,737,944 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 7,499,997 |
Dianthus Therapeutics, Inc. (unlisted) | 5/03/23 - 1/22/24 | 4,142,189 |
Fog Pharmaceuticals, Inc. Series D | 11/17/22 | 2,575,405 |
Fusion Pharmaceuticals, Inc. | 2/13/23 | 1,719,026 |
Kartos Therapeutics, Inc. Series C | 8/22/23 | 3,000,002 |
LifeMine Therapeutics, Inc. Series C | 2/15/22 | 3,971,408 |
Rapport Therapeutics, Inc. Series B | 8/11/23 | 2,398,813 |
Scholar Rock Holding Corp. warrants 12/31/25 | 6/17/22 | 0 |
Sonoma Biotherapeutics, Inc. Series B | 7/26/21 | 3,888,888 |
Sonoma Biotherapeutics, Inc. Series B1 | 7/26/21 | 3,111,112 |
Spyre Therapeutics, Inc. | 6/22/23 - 12/07/23 | 6,651,451 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 7,500,000 |
Tango Therapeutics, Inc. | 8/09/23 | 1,636,938 |
Treeline Biosciences Series A | 7/30/21 | 372,589 |
Wugen, Inc. Series B | 7/09/21 | 4,499,990 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 14,192,363 | 314,847,261 | 307,150,105 | 280,206 | - | - | 21,889,519 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 200,794,912 | 334,583,187 | 426,309,288 | 765,736 | - | - | 109,068,811 | 0.4% |
Total | 214,987,275 | 649,430,448 | 733,459,393 | 1,045,942 | - | - | 130,958,330 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 1,625,875,864 | 1,607,084,503 | 16,718,200 | 2,073,161 |
Convertible Preferred Stocks | 34,820,925 | - | - | 34,820,925 |
Money Market Funds | 130,958,330 | 130,958,330 | - | - |
Total Investments in Securities: | 1,791,655,119 | 1,738,042,833 | 16,718,200 | 36,894,086 |
Investments in Securities: | |||
Convertible Preferred Stocks | |||
Beginning Balance | $ | 39,058,366 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (1,858,108) | ||
Cost of Purchases | 5,398,815 | ||
Proceeds of Sales | (3,734,583) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (4,043,565) | ||
Ending Balance | $ | 34,820,925 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | (1,860,614) | |
Other Investments in Securities | |||
Beginning Balance | $ | 3,827,453 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (1,685,891) | ||
Cost of Purchases | 1,689,995 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (1,758,396) | ||
Ending Balance | $ | 2,073,161 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | (1,685,891) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $105,171,978) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,108,735,742) | $ | 1,660,696,789 | ||
Fidelity Central Funds (cost $130,954,207) | 130,958,330 | |||
Total Investment in Securities (cost $1,239,689,949) | $ | 1,791,655,119 | ||
Receivable for fund shares sold | 1,321,131 | |||
Dividends receivable | 3,765,229 | |||
Distributions receivable from Fidelity Central Funds | 180,083 | |||
Prepaid expenses | 5,097 | |||
Total assets | 1,796,926,659 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 62,755 | ||
Delayed delivery | 1,689,995 | |||
Payable for fund shares redeemed | 1,591,936 | |||
Accrued management fee | 731,137 | |||
Distribution and service plan fees payable | 276,593 | |||
Other affiliated payables | 285,266 | |||
Other payables and accrued expenses | 44,365 | |||
Collateral on securities loaned | 109,035,708 | |||
Total Liabilities | 113,717,755 | |||
Net Assets | $ | 1,683,208,904 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,182,905,229 | ||
Total accumulated earnings (loss) | 500,303,675 | |||
Net Assets | $ | 1,683,208,904 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($673,288,497 ÷ 23,631,524 shares)(a) | $ | 28.49 | ||
Maximum offering price per share (100/94.25 of $28.49) | $ | 30.23 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($121,231,478 ÷ 4,649,059 shares)(a) | $ | 26.08 | ||
Maximum offering price per share (100/96.50 of $26.08) | $ | 27.03 | ||
Class C : | ||||
Net Asset Value and offering price per share ($101,768,297 ÷ 4,545,151 shares)(a) | $ | 22.39 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($715,600,915 ÷ 22,987,744 shares) | $ | 31.13 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($71,319,717 ÷ 2,286,645 shares) | $ | 31.19 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 10,346,038 | ||
Income from Fidelity Central Funds (including $765,736 from security lending) | 1,045,942 | |||
Total Income | 11,391,980 | |||
Expenses | ||||
Management fee | $ | 3,960,459 | ||
Transfer agent fees | 1,344,612 | |||
Distribution and service plan fees | 1,521,294 | |||
Accounting fees | 210,216 | |||
Custodian fees and expenses | 3,156 | |||
Independent trustees' fees and expenses | 4,454 | |||
Registration fees | 70,714 | |||
Audit | 34,805 | |||
Legal | 3,987 | |||
Interest | 10,909 | |||
Miscellaneous | 4,573 | |||
Total expenses before reductions | 7,169,179 | |||
Expense reductions | (65,874) | |||
Total expenses after reductions | 7,103,305 | |||
Net Investment income (loss) | 4,288,675 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,816,724 | |||
Total net realized gain (loss) | 1,816,724 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 190,769,569 | |||
Unfunded commitments | 100,846 | |||
Total change in net unrealized appreciation (depreciation) | 190,870,415 | |||
Net gain (loss) | 192,687,139 | |||
Net increase (decrease) in net assets resulting from operations | $ | 196,975,814 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 4,288,675 | $ | 1,917,025 |
Net realized gain (loss) | 1,816,724 | 80,783,949 | ||
Change in net unrealized appreciation (depreciation) | 190,870,415 | 158,023,113 | ||
Net increase (decrease) in net assets resulting from operations | 196,975,814 | 240,724,087 | ||
Distributions to shareholders | (18,817,059) | - | ||
Share transactions - net increase (decrease) | (128,087,809) | (240,917,348) | ||
Total increase (decrease) in net assets | 50,070,946 | (193,261) | ||
Net Assets | ||||
Beginning of period | 1,633,137,958 | 1,633,331,219 | ||
End of period | $ | 1,683,208,904 | $ | 1,633,137,958 |
Fidelity Advisor® Biotechnology Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.34 | $ | 22.00 | $ | 32.58 | $ | 31.03 | $ | 25.48 | $ | 27.80 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .06 | .02 | (.06) | .07 | .03 | .03 | ||||||
Net realized and unrealized gain (loss) | 3.41 | 3.32 | (5.16) | 4.42 | 7.40 | (1.76) | ||||||
Total from investment operations | 3.47 | 3.34 | (5.22) | 4.49 | 7.43 | (1.73) | ||||||
Distributions from net investment income | (.32) | - | (.11) | (.13) | - | - | ||||||
Distributions from net realized gain | - | - | (5.25) | (2.81) | (1.88) | (.59) | ||||||
Total distributions | (.32) | - | (5.36) | (2.94) | (1.88) | (.59) | ||||||
Net asset value, end of period | $ | 28.49 | $ | 25.34 | $ | 22.00 | $ | 32.58 | $ | 31.03 | $ | 25.48 |
Total Return C,D,E | 13.83% | 15.18% | (18.95)% | 14.03% | 30.00% | (6.17)% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.01% H | 1.01% | 1.00% | 1.01% | 1.02% | 1.04% | ||||||
Expenses net of fee waivers, if any | 1.00% H | 1.00% | 1.00% | 1.00% | 1.02% | 1.03% | ||||||
Expenses net of all reductions | 1.00% H | 1.00% | 1.00% | 1.00% | 1.02% | 1.03% | ||||||
Net investment income (loss) | .50% H | .07% | (.23)% | .20% | .11% | .13% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 673,288 | $ | 636,505 | $ | 594,911 | $ | 808,610 | $ | 722,896 | $ | 616,894 |
Portfolio turnover rate I | 87% H | 78% | 43% | 72% | 66% | 62% |
Fidelity Advisor® Biotechnology Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.17 | $ | 20.17 | $ | 30.35 | $ | 29.08 | $ | 24.02 | $ | 26.32 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .03 | (.05) | (.13) | (.02) | (.05) | (.04) | ||||||
Net realized and unrealized gain (loss) | 3.11 | 3.05 | (4.73) | 4.14 | 6.96 | (1.67) | ||||||
Total from investment operations | 3.14 | 3.00 | (4.86) | 4.12 | 6.91 | (1.71) | ||||||
Distributions from net investment income | (.23) | - | (.07) | (.07) | - | - | ||||||
Distributions from net realized gain | - | - | (5.25) | (2.78) | (1.85) | (.59) | ||||||
Total distributions | (.23) | - | (5.32) | (2.85) | (1.85) | (.59) | ||||||
Net asset value, end of period | $ | 26.08 | $ | 23.17 | $ | 20.17 | $ | 30.35 | $ | 29.08 | $ | 24.02 |
Total Return C,D,E | 13.70% | 14.87% | (19.18)% | 13.69% | 29.64% | (6.44)% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.28% H | 1.29% | 1.28% | 1.28% | 1.32% | 1.34% | ||||||
Expenses net of fee waivers, if any | 1.27% H | 1.28% | 1.28% | 1.28% | 1.32% | 1.34% | ||||||
Expenses net of all reductions | 1.27% H | 1.28% | 1.28% | 1.28% | 1.31% | 1.34% | ||||||
Net investment income (loss) | .23% H | (.20)% | (.51)% | (.07)% | (.18)% | (.18)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 121,231 | $ | 113,960 | $ | 109,815 | $ | 161,619 | $ | 144,568 | $ | 119,312 |
Portfolio turnover rate I | 87% H | 78% | 43% | 72% | 66% | 62% |
Fidelity Advisor® Biotechnology Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 19.75 | $ | 17.27 | $ | 26.79 | $ | 25.97 | $ | 21.71 | $ | 23.96 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.02) | (.13) | (.21) | (.15) | (.15) | (.14) | ||||||
Net realized and unrealized gain (loss) | 2.66 | 2.61 | (4.07) | 3.71 | 6.26 | (1.52) | ||||||
Total from investment operations | 2.64 | 2.48 | (4.28) | 3.56 | 6.11 | (1.66) | ||||||
Distributions from net investment income | - | - | - | (.01) | - | - | ||||||
Distributions from net realized gain | - | - | (5.24) | (2.73) | (1.85) | (.59) | ||||||
Total distributions | - | - | (5.24) | (2.74) | (1.85) | (.59) | ||||||
Net asset value, end of period | $ | 22.39 | $ | 19.75 | $ | 17.27 | $ | 26.79 | $ | 25.97 | $ | 21.71 |
Total Return C,D,E | 13.37% | 14.36% | (19.54)% | 13.15% | 29.07% | (6.87)% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.77% H | 1.76% | 1.75% | 1.75% | 1.77% | 1.78% | ||||||
Expenses net of fee waivers, if any | 1.76% H | 1.76% | 1.74% | 1.75% | 1.77% | 1.77% | ||||||
Expenses net of all reductions | 1.76% H | 1.76% | 1.74% | 1.75% | 1.76% | 1.77% | ||||||
Net investment income (loss) | (.26)% H | (.69)% | (.97)% | (.55)% | (.63)% | (.61)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 101,768 | $ | 119,843 | $ | 168,797 | $ | 328,417 | $ | 384,420 | $ | 398,749 |
Portfolio turnover rate I | 87% H | 78% | 43% | 72% | 66% | 62% |
Fidelity Advisor® Biotechnology Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 27.71 | $ | 23.99 | $ | 35.00 | $ | 33.16 | $ | 27.08 | $ | 29.42 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .10 | .09 | .01 | .17 | .11 | .11 | ||||||
Net realized and unrealized gain (loss) | 3.73 | 3.63 | (5.61) | 4.72 | 7.88 | (1.86) | ||||||
Total from investment operations | 3.83 | 3.72 | (5.60) | 4.89 | 7.99 | (1.75) | ||||||
Distributions from net investment income | (.41) | - | (.16) | (.21) | - | - | ||||||
Distributions from net realized gain | - | - | (5.25) | (2.85) | (1.91) | (.59) | ||||||
Total distributions | (.41) | - | (5.41) | (3.05) C | (1.91) | (.59) | ||||||
Net asset value, end of period | $ | 31.13 | $ | 27.71 | $ | 23.99 | $ | 35.00 | $ | 33.16 | $ | 27.08 |
Total Return D,E | 14.00% | 15.51% | (18.74)% | 14.34% | 30.32% | (5.89)% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .74% H | .74% | .73% | .74% | .75% | .76% | ||||||
Expenses net of fee waivers, if any | .73% H | .73% | .73% | .74% | .75% | .76% | ||||||
Expenses net of all reductions | .73% H | .73% | .73% | .74% | .75% | .76% | ||||||
Net investment income (loss) | .78% H | .34% | .04% | .47% | .38% | .40% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 715,601 | $ | 701,786 | $ | 697,079 | $ | 1,129,492 | $ | 1,092,145 | $ | 1,006,084 |
Portfolio turnover rate I | 87% H | 78% | 43% | 72% | 66% | 62% |
Fidelity Advisor® Biotechnology Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 27.81 | $ | 24.04 | $ | 35.05 | $ | 33.22 | $ | 27.10 | $ | 30.06 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .12 | .13 | .05 | .21 | .15 | .16 | ||||||
Net realized and unrealized gain (loss) | 3.73 | 3.64 | (5.62) | 4.74 | 7.90 | (2.53) | ||||||
Total from investment operations | 3.85 | 3.77 | (5.57) | 4.95 | 8.05 | (2.37) | ||||||
Distributions from net investment income | (.47) | - | (.19) | (.26) | (.02) | - | ||||||
Distributions from net realized gain | - | - | (5.25) | (2.87) | (1.91) | (.59) | ||||||
Total distributions | (.47) | - | (5.44) | (3.12) D | (1.93) | (.59) | ||||||
Net asset value, end of period | $ | 31.19 | $ | 27.81 | $ | 24.04 | $ | 35.05 | $ | 33.22 | $ | 27.10 |
Total Return E,F | 14.04% | 15.68% | (18.63)% | 14.49% | 30.53% | (7.83)% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .61% I | .61% | .61% | .61% | .62% | .63% I | ||||||
Expenses net of fee waivers, if any | .60% I | .60% | .60% | .61% | .62% | .63% I | ||||||
Expenses net of all reductions | .60% I | .60% | .60% | .61% | .62% | .62% I | ||||||
Net investment income (loss) | .90% I | .47% | .16% | .60% | .51% | .73% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 71,320 | $ | 61,044 | $ | 62,729 | $ | 89,641 | $ | 62,743 | $ | 30,116 |
Portfolio turnover rate J | 87% I | 78% | 43% | 72% | 66% | 62% |
Top Holdings (% of Fund's net assets) | ||
Amazon.com, Inc. | 24.4 | |
Tesla, Inc. | 9.4 | |
The Home Depot, Inc. | 5.0 | |
Lowe's Companies, Inc. | 4.4 | |
TJX Companies, Inc. | 4.0 | |
Hilton Worldwide Holdings, Inc. | 3.0 | |
NIKE, Inc. Class B | 2.9 | |
McDonald's Corp. | 2.9 | |
Dick's Sporting Goods, Inc. | 2.3 | |
Booking Holdings, Inc. | 2.3 | |
60.6 | ||
Industries (% of Fund's net assets) | ||
Broadline Retail | 25.0 | |
Specialty Retail | 23.7 | |
Hotels, Restaurants & Leisure | 18.8 | |
Automobiles | 11.0 | |
Textiles, Apparel & Luxury Goods | 10.8 | |
Household Durables | 4.1 | |
Automobile Components | 3.6 | |
Consumer Staples Distribution & Retail | 2.1 | |
Building Products | 0.7 | |
Leisure Products | 0.3 | |
Commercial Services & Supplies | 0.2 | |
Common Stocks - 100.3% | |||
Shares | Value ($) | ||
Automobile Components - 3.6% | |||
Automotive Parts & Equipment - 3.6% | |||
Adient PLC (a) | 80,721 | 2,801,826 | |
Aptiv PLC (a) | 121,610 | 9,890,541 | |
Magna International, Inc. Class A (b) | 61,370 | 3,488,885 | |
16,181,252 | |||
Automobiles - 11.0% | |||
Automobile Manufacturers - 11.0% | |||
General Motors Co. | 180,200 | 6,991,760 | |
Tesla, Inc. (a) | 226,025 | 42,332,222 | |
49,323,982 | |||
Broadline Retail - 25.0% | |||
Broadline Retail - 25.0% | |||
Amazon.com, Inc. (a) | 706,669 | 109,675,029 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 36,043 | 2,592,573 | |
112,267,602 | |||
Building Products - 0.7% | |||
Building Products - 0.7% | |||
The AZEK Co., Inc. (a) | 83,891 | 3,234,837 | |
Commercial Services & Supplies - 0.2% | |||
Diversified Support Services - 0.2% | |||
Vestis Corp. | 30,275 | 647,885 | |
Consumer Staples Distribution & Retail - 2.1% | |||
Consumer Staples Merchandise Retail - 1.1% | |||
Dollar Tree, Inc. (a) | 36,524 | 4,770,765 | |
Food Distributors - 1.0% | |||
Performance Food Group Co. (a) | 63,872 | 4,642,217 | |
TOTAL CONSUMER STAPLES DISTRIBUTION & RETAIL | 9,412,982 | ||
Hotels, Restaurants & Leisure - 18.8% | |||
Casinos & Gaming - 2.6% | |||
Caesars Entertainment, Inc. (a) | 50,541 | 2,217,234 | |
Churchill Downs, Inc. | 29,134 | 3,524,340 | |
Penn Entertainment, Inc. (a) | 90,905 | 2,049,908 | |
Red Rock Resorts, Inc. | 69,420 | 3,795,886 | |
11,587,368 | |||
Hotels, Resorts & Cruise Lines - 8.1% | |||
Booking Holdings, Inc. (a) | 2,927 | 10,266,365 | |
Hilton Worldwide Holdings, Inc. | 71,845 | 13,719,521 | |
Marriott International, Inc. Class A | 35,824 | 8,588,088 | |
Royal Caribbean Cruises Ltd. (a) | 31,370 | 3,999,675 | |
36,573,649 | |||
Restaurants - 8.1% | |||
Aramark | 58,999 | 1,715,691 | |
Brinker International, Inc. (a) | 26,720 | 1,143,349 | |
Chipotle Mexican Grill, Inc. (a) | 2,913 | 7,016,747 | |
Domino's Pizza, Inc. | 19,979 | 8,515,449 | |
Dutch Bros, Inc. (a) | 22,330 | 599,561 | |
McDonald's Corp. | 44,331 | 12,976,570 | |
Starbucks Corp. | 48,570 | 4,518,467 | |
36,485,834 | |||
TOTAL HOTELS, RESTAURANTS & LEISURE | 84,646,851 | ||
Household Durables - 4.1% | |||
Home Furnishings - 1.9% | |||
Tempur Sealy International, Inc. | 171,415 | 8,551,894 | |
Homebuilding - 2.2% | |||
KB Home | 66,990 | 3,991,934 | |
PulteGroup, Inc. | 55,930 | 5,848,041 | |
9,839,975 | |||
TOTAL HOUSEHOLD DURABLES | 18,391,869 | ||
Leisure Products - 0.3% | |||
Leisure Products - 0.3% | |||
Brunswick Corp. | 17,800 | 1,436,104 | |
Specialty Retail - 23.7% | |||
Apparel Retail - 5.9% | |||
Aritzia, Inc. (a) | 177,000 | 4,306,348 | |
Burlington Stores, Inc. (a) | 22,013 | 4,207,785 | |
TJX Companies, Inc. | 190,659 | 18,095,446 | |
26,609,579 | |||
Automotive Retail - 1.0% | |||
O'Reilly Automotive, Inc. (a) | 4,280 | 4,378,654 | |
Home Improvement Retail - 11.0% | |||
Floor & Decor Holdings, Inc. Class A (a)(b) | 73,268 | 7,367,830 | |
Lowe's Companies, Inc. | 91,747 | 19,527,431 | |
The Home Depot, Inc. | 63,493 | 22,410,489 | |
49,305,750 | |||
Homefurnishing Retail - 1.3% | |||
Wayfair LLC Class A (a) | 13,895 | 698,224 | |
Williams-Sonoma, Inc. (b) | 26,370 | 5,099,694 | |
5,797,918 | |||
Other Specialty Retail - 4.5% | |||
Academy Sports & Outdoors, Inc. | 77,800 | 4,880,394 | |
Bath & Body Works, Inc. | 24,508 | 1,045,511 | |
Dick's Sporting Goods, Inc. | 70,394 | 10,493,634 | |
Five Below, Inc. (a) | 13,650 | 2,449,629 | |
Sally Beauty Holdings, Inc. (a) | 113,780 | 1,401,770 | |
20,270,938 | |||
TOTAL SPECIALTY RETAIL | 106,362,839 | ||
Textiles, Apparel & Luxury Goods - 10.8% | |||
Apparel, Accessories & Luxury Goods - 5.5% | |||
Levi Strauss & Co. Class A (b) | 88,810 | 1,445,827 | |
lululemon athletica, Inc. (a) | 19,470 | 8,835,875 | |
LVMH Moet Hennessy Louis Vuitton SE | 2,077 | 1,728,186 | |
PVH Corp. | 43,419 | 5,221,569 | |
Tapestry, Inc. | 145,804 | 5,655,737 | |
VF Corp. | 107,340 | 1,766,816 | |
24,654,010 | |||
Footwear - 5.3% | |||
Deckers Outdoor Corp. (a) | 10,452 | 7,877,986 | |
NIKE, Inc. Class B | 127,912 | 12,986,905 | |
On Holding AG (a)(b) | 31,484 | 836,215 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 21,600 | 1,348,704 | |
Wolverine World Wide, Inc. | 113,980 | 952,873 | |
24,002,683 | |||
TOTAL TEXTILES, APPAREL & LUXURY GOODS | 48,656,693 | ||
TOTAL COMMON STOCKS (Cost $245,580,994) | 450,562,896 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 969,520 | 969,714 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 9,803,770 | 9,804,750 | |
TOTAL MONEY MARKET FUNDS (Cost $10,774,464) | 10,774,464 | ||
TOTAL INVESTMENT IN SECURITIES - 102.7% (Cost $256,355,458) | 461,337,360 |
NET OTHER ASSETS (LIABILITIES) - (2.7)% | (12,090,874) |
NET ASSETS - 100.0% | 449,246,486 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 7,175,962 | 28,458,591 | 34,664,839 | 35,809 | - | - | 969,714 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 8,748,675 | 62,006,842 | 60,950,767 | 12,136 | - | - | 9,804,750 | 0.0% |
Total | 15,924,637 | 90,465,433 | 95,615,606 | 47,945 | - | - | 10,774,464 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 450,562,896 | 448,834,710 | 1,728,186 | - |
Money Market Funds | 10,774,464 | 10,774,464 | - | - |
Total Investments in Securities: | 461,337,360 | 459,609,174 | 1,728,186 | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,322,201) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $245,580,994) | $ | 450,562,896 | ||
Fidelity Central Funds (cost $10,774,464) | 10,774,464 | |||
Total Investment in Securities (cost $256,355,458) | $ | 461,337,360 | ||
Foreign currency held at value (cost $21,151) | 19,714 | |||
Receivable for investments sold | 2,036,466 | |||
Receivable for fund shares sold | 90,112 | |||
Dividends receivable | 149,796 | |||
Distributions receivable from Fidelity Central Funds | 2,574 | |||
Prepaid expenses | 854 | |||
Other receivables | 2,314 | |||
Total assets | 463,639,190 | |||
Liabilities | ||||
Payable to custodian bank | $ | 14,825 | ||
Payable for investments purchased | 1,747,965 | |||
Payable for fund shares redeemed | 2,428,143 | |||
Accrued management fee | 199,432 | |||
Distribution and service plan fees payable | 89,443 | |||
Other affiliated payables | 78,527 | |||
Other payables and accrued expenses | 29,794 | |||
Collateral on securities loaned | 9,804,575 | |||
Total Liabilities | 14,392,704 | |||
Net Assets | $ | 449,246,486 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 232,918,423 | ||
Total accumulated earnings (loss) | 216,328,063 | |||
Net Assets | $ | 449,246,486 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($209,985,569 ÷ 5,425,068 shares)(a) | $ | 38.71 | ||
Maximum offering price per share (100/94.25 of $38.71) | $ | 41.07 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($33,747,875 ÷ 956,337 shares)(a) | $ | 35.29 | ||
Maximum offering price per share (100/96.50 of $35.29) | $ | 36.57 | ||
Class C : | ||||
Net Asset Value and offering price per share ($35,392,401 ÷ 1,219,798 shares)(a) | $ | 29.01 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($134,348,058 ÷ 3,138,964 shares) | $ | 42.80 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($35,772,583 ÷ 831,078 shares) | $ | 43.04 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,706,024 | ||
Income from Fidelity Central Funds (including $12,136 from security lending) | 47,945 | |||
Total Income | 1,753,969 | |||
Expenses | ||||
Management fee | $ | 1,217,434 | ||
Transfer agent fees | 386,980 | |||
Distribution and service plan fees | 524,125 | |||
Accounting fees | 82,395 | |||
Custodian fees and expenses | 3,075 | |||
Independent trustees' fees and expenses | 1,367 | |||
Registration fees | 59,920 | |||
Audit | 32,960 | |||
Legal | 560 | |||
Miscellaneous | 1,066 | |||
Total expenses before reductions | 2,309,882 | |||
Expense reductions | (20,210) | |||
Total expenses after reductions | 2,289,672 | |||
Net Investment income (loss) | (535,703) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 7,294,392 | |||
Redemptions in-kind | 15,311,646 | |||
Foreign currency transactions | (1,906) | |||
Total net realized gain (loss) | 22,604,132 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (14,471,114) | |||
Assets and liabilities in foreign currencies | (470) | |||
Total change in net unrealized appreciation (depreciation) | (14,471,584) | |||
Net gain (loss) | 8,132,548 | |||
Net increase (decrease) in net assets resulting from operations | $ | 7,596,845 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (535,703) | $ | (990,830) |
Net realized gain (loss) | 22,604,132 | 11,406,804 | ||
Change in net unrealized appreciation (depreciation) | (14,471,584) | 43,207,276 | ||
Net increase (decrease) in net assets resulting from operations | 7,596,845 | 53,623,250 | ||
Distributions to shareholders | - | (17,163,089) | ||
Share transactions - net increase (decrease) | (66,460,317) | 30,658,500 | ||
Total increase (decrease) in net assets | (58,863,472) | 67,118,661 | ||
Net Assets | ||||
Beginning of period | 508,109,958 | 440,991,297 | ||
End of period | $ | 449,246,486 | $ | 508,109,958 |
Fidelity Advisor® Consumer Discretionary Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 37.68 | $ | 35.05 | $ | 45.74 | $ | 33.70 | $ | 29.83 | $ | 28.22 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.05) | (.09) | (.16) | (.20) | (.04) | (.02) | ||||||
Net realized and unrealized gain (loss) | 1.08 | 4.07 | (7.62) | 12.82 | 4.73 | 1.90 | ||||||
Total from investment operations | 1.03 | 3.98 | (7.78) | 12.62 | 4.69 | 1.88 | ||||||
Distributions from net realized gain | - | (1.35) | (2.91) | (.58) | (.82) | (.27) | ||||||
Total distributions | - | (1.35) | (2.91) | (.58) | (.82) | (.27) | ||||||
Net asset value, end of period | $ | 38.71 | $ | 37.68 | $ | 35.05 | $ | 45.74 | $ | 33.70 | $ | 29.83 |
Total Return C,D,E | 2.73% | 12.14% | (18.26)% | 37.68% | 16.03% | 6.81% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.04% H | 1.04% | 1.01% | 1.03% | 1.07% | 1.08% | ||||||
Expenses net of fee waivers, if any | 1.03% H | 1.04% | 1.01% | 1.03% | 1.07% | 1.08% | ||||||
Expenses net of all reductions | 1.03% H | 1.04% | 1.01% | 1.03% | 1.06% | 1.07% | ||||||
Net investment income (loss) | (.28)% H | (.27)% | (.38)% | (.48)% | (.14)% | (.09)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 209,986 | $ | 203,468 | $ | 188,092 | $ | 259,488 | $ | 159,603 | $ | 159,298 |
Portfolio turnover rate I | 25% H,J | 43% | 34% | 35% | 41% J | 60% |
Fidelity Advisor® Consumer Discretionary Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 34.40 | $ | 32.20 | $ | 42.23 | $ | 31.23 | $ | 27.78 | $ | 26.36 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.09) | (.16) | (.24) | (.29) | (.11) | (.09) | ||||||
Net realized and unrealized gain (loss) | .98 | 3.71 | (7.02) | 11.87 | 4.38 | 1.78 | ||||||
Total from investment operations | .89 | 3.55 | (7.26) | 11.58 | 4.27 | 1.69 | ||||||
Distributions from net realized gain | - | (1.35) | (2.77) | (.58) | (.82) | (.27) | ||||||
Total distributions | - | (1.35) | (2.77) | (.58) | (.82) | (.27) | ||||||
Net asset value, end of period | $ | 35.29 | $ | 34.40 | $ | 32.20 | $ | 42.23 | $ | 31.23 | $ | 27.78 |
Total Return C,D,E | 2.59% | 11.87% | (18.49)% | 37.32% | 15.70% | 6.56% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.30% H | 1.31% | 1.28% | 1.30% | 1.34% | 1.34% | ||||||
Expenses net of fee waivers, if any | 1.29% H | 1.30% | 1.27% | 1.30% | 1.34% | 1.34% | ||||||
Expenses net of all reductions | 1.29% H | 1.30% | 1.27% | 1.29% | 1.33% | 1.34% | ||||||
Net investment income (loss) | (.54)% H | (.53)% | (.64)% | (.75)% | (.41)% | (.35)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 33,748 | $ | 35,811 | $ | 35,219 | $ | 48,288 | $ | 33,896 | $ | 32,792 |
Portfolio turnover rate I | 25% H,J | 43% | 34% | 35% | 41% J | 60% |
Fidelity Advisor® Consumer Discretionary Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 28.35 | $ | 26.92 | $ | 35.82 | $ | 26.69 | $ | 23.97 | $ | 22.90 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.14) | (.25) | (.36) | (.40) | (.21) | (.19) | ||||||
Net realized and unrealized gain (loss) | .80 | 3.03 | (5.87) | 10.11 | 3.75 | 1.53 | ||||||
Total from investment operations | .66 | 2.78 | (6.23) | 9.71 | 3.54 | 1.34 | ||||||
Distributions from net realized gain | - | (1.35) | (2.67) | (.58) | (.82) | (.27) | ||||||
Total distributions | - | (1.35) | (2.67) | (.58) | (.82) | (.27) | ||||||
Net asset value, end of period | $ | 29.01 | $ | 28.35 | $ | 26.92 | $ | 35.82 | $ | 26.69 | $ | 23.97 |
Total Return C,D,E | 2.33% | 11.32% | (18.88)% | 36.66% | 15.14% | 6.02% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.80% H | 1.80% | 1.77% | 1.79% | 1.82% | 1.83% | ||||||
Expenses net of fee waivers, if any | 1.79% H | 1.79% | 1.76% | 1.79% | 1.82% | 1.83% | ||||||
Expenses net of all reductions | 1.79% H | 1.79% | 1.76% | 1.79% | 1.82% | 1.82% | ||||||
Net investment income (loss) | (1.03)% H | (1.02)% | (1.13)% | (1.24)% | (.90)% | (.83)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 35,392 | $ | 43,294 | $ | 54,035 | $ | 85,549 | $ | 65,223 | $ | 70,890 |
Portfolio turnover rate I | 25% H,J | 43% | 34% | 35% | 41% J | 60% |
Fidelity Advisor® Consumer Discretionary Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 41.61 | $ | 38.45 | $ | 49.91 | $ | 36.63 | $ | 32.27 | $ | 30.42 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | - C | - C | (.05) | (.10) | .04 | .06 | ||||||
Net realized and unrealized gain (loss) | 1.19 | 4.51 | (8.36) | 13.96 | 5.14 | 2.06 | ||||||
Total from investment operations | 1.19 | 4.51 | (8.41) | 13.86 | 5.18 | 2.12 | ||||||
Distributions from net realized gain | - | (1.35) | (3.05) | (.58) | (.82) | (.27) | ||||||
Total distributions | - | (1.35) | (3.05) | (.58) | (.82) | (.27) | ||||||
Net asset value, end of period | $ | 42.80 | $ | 41.61 | $ | 38.45 | $ | 49.91 | $ | 36.63 | $ | 32.27 |
Total Return D,E | 2.86% | 12.45% | (18.04)% | 38.05% | 16.34% | 7.10% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .77% H | .77% | .75% | .77% | .79% | .80% | ||||||
Expenses net of fee waivers, if any | .76% H | .76% | .74% | .76% | .79% | .80% | ||||||
Expenses net of all reductions | .76% H | .76% | .74% | .76% | .79% | .80% | ||||||
Net investment income (loss) | (.01)% H | .01% | (.11)% | (.22)% | .13% | .19% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 134,348 | $ | 139,088 | $ | 118,859 | $ | 259,846 | $ | 134,907 | $ | 159,613 |
Portfolio turnover rate I | 25% H,J | 43% | 34% | 35% | 41% J | 60% |
Fidelity Advisor® Consumer Discretionary Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 41.82 | $ | 38.59 | $ | 50.10 | $ | 36.72 | $ | 32.31 | $ | 31.56 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .02 | .05 | - D | (.04) | .09 | .10 | ||||||
Net realized and unrealized gain (loss) | 1.20 | 4.53 | (8.38) | 14.00 | 5.14 | .92 | ||||||
Total from investment operations | 1.22 | 4.58 | (8.38) | 13.96 | 5.23 | 1.02 | ||||||
Distributions from net realized gain | - | (1.35) | (3.13) | (.58) | (.82) | (.27) | ||||||
Total distributions | - | (1.35) | (3.13) | (.58) | (.82) | (.27) | ||||||
Net asset value, end of period | $ | 43.04 | $ | 41.82 | $ | 38.59 | $ | 50.10 | $ | 36.72 | $ | 32.31 |
Total Return E,F | 2.92% | 12.59% | (17.93)% | 38.23% | 16.48% | 3.36% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .64% I | .64% | .62% | .64% | .66% | .67% I | ||||||
Expenses net of fee waivers, if any | .63% I | .64% | .62% | .64% | .66% | .66% I | ||||||
Expenses net of all reductions | .63% I | .64% | .62% | .64% | .66% | .66% I | ||||||
Net investment income (loss) | .12% I | .13% | .01% | (.09)% | .26% | .39% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 35,773 | $ | 86,450 | $ | 44,785 | $ | 87,644 | $ | 48,668 | $ | 6,786 |
Portfolio turnover rate J | 25% I,K | 43% | 34% | 35% | 41% K | 60% |
Top Holdings (% of Fund's net assets) | ||
Exxon Mobil Corp. | 24.1 | |
Canadian Natural Resources Ltd. | 5.5 | |
Chevron Corp. | 5.3 | |
Marathon Petroleum Corp. | 4.8 | |
Schlumberger Ltd. | 4.8 | |
Occidental Petroleum Corp. | 4.8 | |
Cenovus Energy, Inc. (Canada) | 4.7 | |
Hess Corp. | 4.1 | |
Valero Energy Corp. | 3.9 | |
ConocoPhillips Co. | 3.6 | |
65.6 | ||
Industries (% of Fund's net assets) | ||
Oil, Gas & Consumable Fuels | 82.2 | |
Energy Equipment & Services | 16.6 | |
Machinery | 0.6 | |
Independent Power and Renewable Electricity Producers | 0.5 | |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
Energy Equipment & Services - 16.6% | |||
Oil & Gas Drilling - 3.5% | |||
Noble Corp. PLC | 148,300 | 6,544,479 | |
Odfjell Drilling Ltd. | 691,156 | 2,579,369 | |
Patterson-UTI Energy, Inc. | 1,180,996 | 13,097,246 | |
Shelf Drilling Ltd. (a)(b)(c) | 513,728 | 1,470,271 | |
Valaris Ltd. (a) | 247,500 | 15,312,825 | |
39,004,190 | |||
Oil & Gas Equipment & Services - 13.1% | |||
Halliburton Co. | 990,400 | 35,307,760 | |
NOV, Inc. | 628,100 | 12,254,231 | |
Oceaneering International, Inc. (a) | 473,500 | 9,839,330 | |
ProFrac Holding Corp. (a)(b) | 279,500 | 2,210,845 | |
ProPetro Holding Corp. (a) | 425,100 | 3,596,346 | |
Schlumberger Ltd. | 1,093,318 | 53,244,587 | |
TechnipFMC PLC | 1,519,700 | 29,390,998 | |
145,844,097 | |||
TOTAL ENERGY EQUIPMENT & SERVICES | 184,848,287 | ||
Independent Power and Renewable Electricity Producers - 0.5% | |||
Independent Power Producers & Energy Traders - 0.5% | |||
Vistra Corp. | 127,100 | 5,214,913 | |
Machinery - 0.6% | |||
Industrial Machinery & Supplies & Components - 0.6% | |||
Chart Industries, Inc. (a)(b) | 58,300 | 6,804,776 | |
Oil, Gas & Consumable Fuels - 82.2% | |||
Integrated Oil & Gas - 41.4% | |||
Cenovus Energy, Inc. (Canada) | 3,234,500 | 52,398,683 | |
Chevron Corp. | 396,708 | 58,486,660 | |
Exxon Mobil Corp. | 2,605,661 | 267,888,008 | |
Imperial Oil Ltd. | 214,100 | 12,349,626 | |
Occidental Petroleum Corp. | 914,400 | 52,642,008 | |
Occidental Petroleum Corp. warrants 8/3/27 (a) | 36,987 | 1,319,696 | |
Suncor Energy, Inc. | 437,800 | 14,497,271 | |
459,581,952 | |||
Oil & Gas Exploration & Production - 24.2% | |||
Antero Resources Corp. (a) | 428,600 | 9,574,924 | |
APA Corp. | 123,100 | 3,856,723 | |
Canadian Natural Resources Ltd. | 951,400 | 60,886,203 | |
Chord Energy Corp. | 40,430 | 6,216,517 | |
Civitas Resources, Inc. | 12,944 | 838,901 | |
ConocoPhillips Co. | 361,450 | 40,435,412 | |
Devon Energy Corp. | 149,200 | 6,269,384 | |
Diamondback Energy, Inc. | 115,600 | 17,772,344 | |
EOG Resources, Inc. | 84,386 | 9,602,283 | |
Hess Corp. | 323,500 | 45,461,455 | |
National Energy Services Reunited Corp. (a) | 1,636,771 | 12,112,105 | |
Northern Oil & Gas, Inc. | 60,030 | 2,011,005 | |
Ovintiv, Inc. | 531,200 | 22,533,504 | |
Pioneer Natural Resources Co. | 74,525 | 17,128,081 | |
Range Resources Corp. | 381,500 | 11,078,760 | |
SM Energy Co. | 99,300 | 3,682,044 | |
269,459,645 | |||
Oil & Gas Refining & Marketing - 10.0% | |||
Marathon Petroleum Corp. | 323,378 | 53,551,397 | |
Phillips 66 Co. | 100,018 | 14,433,598 | |
Valero Energy Corp. | 310,300 | 43,100,670 | |
111,085,665 | |||
Oil & Gas Storage & Transportation - 6.6% | |||
Cheniere Energy, Inc. | 231,600 | 37,980,084 | |
Energy Transfer LP | 1,745,700 | 24,963,510 | |
Golar LNG Ltd. | 119,400 | 2,604,114 | |
New Fortress Energy, Inc. (b) | 233,100 | 7,745,913 | |
73,293,621 | |||
TOTAL OIL, GAS & CONSUMABLE FUELS | 913,420,883 | ||
TOTAL COMMON STOCKS (Cost $680,882,562) | 1,110,288,859 | ||
Money Market Funds - 1.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (d) | 5,178,065 | 5,179,101 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 10,501,339 | 10,502,389 | |
TOTAL MONEY MARKET FUNDS (Cost $15,681,490) | 15,681,490 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $696,564,052) | 1,125,970,349 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (14,504,434) |
NET ASSETS - 100.0% | 1,111,465,915 |
(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 $1,470,271 or 0.1% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 4,273,105 | 97,944,996 | 97,039,000 | 108,719 | - | - | 5,179,101 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 39,722,849 | 463,727,656 | 492,948,116 | 36,147 | - | - | 10,502,389 | 0.0% |
Total | 43,995,954 | 561,672,652 | 589,987,116 | 144,866 | - | - | 15,681,490 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 1,110,288,859 | 1,110,288,859 | - | - |
Money Market Funds | 15,681,490 | 15,681,490 | - | - |
Total Investments in Securities: | 1,125,970,349 | 1,125,970,349 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,880,392) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $680,882,562) | $ | 1,110,288,859 | ||
Fidelity Central Funds (cost $15,681,490) | 15,681,490 | |||
Total Investment in Securities (cost $696,564,052) | $ | 1,125,970,349 | ||
Foreign currency held at value (cost $50,348) | 50,376 | |||
Receivable for fund shares sold | 610,686 | |||
Dividends receivable | 413,352 | |||
Distributions receivable from Fidelity Central Funds | 14,330 | |||
Prepaid expenses | 2,235 | |||
Other receivables | 140,801 | |||
Total assets | 1,127,202,129 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,474,822 | ||
Payable for fund shares redeemed | 1,723,389 | |||
Accrued management fee | 485,380 | |||
Distribution and service plan fees payable | 181,782 | |||
Other affiliated payables | 185,210 | |||
Other payables and accrued expenses | 183,566 | |||
Collateral on securities loaned | 10,502,065 | |||
Total Liabilities | 15,736,214 | |||
Net Assets | $ | 1,111,465,915 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 858,145,792 | ||
Total accumulated earnings (loss) | 253,320,123 | |||
Net Assets | $ | 1,111,465,915 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($351,192,555 ÷ 8,266,822 shares)(a) | $ | 42.48 | ||
Maximum offering price per share (100/94.25 of $42.48) | $ | 45.07 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($100,144,273 ÷ 2,289,999 shares)(a) | $ | 43.73 | ||
Maximum offering price per share (100/96.50 of $43.73) | $ | 45.32 | ||
Class C : | ||||
Net Asset Value and offering price per share ($79,428,427 ÷ 2,046,174 shares)(a) | $ | 38.82 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($485,020,928 ÷ 10,762,360 shares) | $ | 45.07 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($95,679,732 ÷ 2,126,526 shares) | $ | 44.99 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 17,264,737 | ||
Income from Fidelity Central Funds (including $36,147 from security lending) | 144,866 | |||
Total Income | 17,409,603 | |||
Expenses | ||||
Management fee | $ | 3,398,055 | ||
Transfer agent fees | 1,042,606 | |||
Distribution and service plan fees | 1,188,472 | |||
Accounting fees | 183,171 | |||
Custodian fees and expenses | 22,213 | |||
Independent trustees' fees and expenses | 3,930 | |||
Registration fees | 75,168 | |||
Audit | 28,042 | |||
Legal | 1,105 | |||
Interest | 5,888 | |||
Miscellaneous | 2,897 | |||
Total expenses before reductions | 5,951,547 | |||
Expense reductions | (55,073) | |||
Total expenses after reductions | 5,896,474 | |||
Net Investment income (loss) | 11,513,129 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 66,208,267 | |||
Redemptions in-kind | 42,342,401 | |||
Foreign currency transactions | (32,081) | |||
Total net realized gain (loss) | 108,518,587 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (163,162,222) | |||
Assets and liabilities in foreign currencies | (490) | |||
Total change in net unrealized appreciation (depreciation) | (163,162,712) | |||
Net gain (loss) | (54,644,125) | |||
Net increase (decrease) in net assets resulting from operations | $ | (43,130,996) |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 11,513,129 | $ | 35,265,025 |
Net realized gain (loss) | 108,518,587 | 43,349,912 | ||
Change in net unrealized appreciation (depreciation) | (163,162,712) | 113,842,540 | ||
Net increase (decrease) in net assets resulting from operations | (43,130,996) | 192,457,477 | ||
Distributions to shareholders | (23,514,165) | (33,434,847) | ||
Share transactions - net increase (decrease) | (183,176,892) | (175,324,623) | ||
Total increase (decrease) in net assets | (249,822,053) | (16,301,993) | ||
Net Assets | ||||
Beginning of period | 1,361,287,968 | 1,377,589,961 | ||
End of period | $ | 1,111,465,915 | $ | 1,361,287,968 |
Fidelity Advisor® Energy Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 44.81 | $ | 39.49 | $ | 23.59 | $ | 16.59 | $ | 27.88 | $ | 37.52 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .37 | .96 | .80 | .65 C | .57 | .35 | ||||||
Net realized and unrealized gain (loss) | (1.82) | 5.26 | 15.68 | 6.94 | (11.42) | (9.76) | ||||||
Total from investment operations | (1.45) | 6.22 | 16.48 | 7.59 | (10.85) | (9.41) | ||||||
Distributions from net investment income | (.88) | (.90) | (.58) | (.59) | (.44) | (.18) D | ||||||
Distributions from net realized gain | - | - | - | - | - | (.05) D | ||||||
Total distributions | (.88) | (.90) | (.58) | (.59) | (.44) | (.23) | ||||||
Net asset value, end of period | $ | 42.48 | $ | 44.81 | $ | 39.49 | $ | 23.59 | $ | 16.59 | $ | 27.88 |
Total Return E,F,G | (3.23)% | 15.94% | 71.12% | 46.78% | (39.54)% | (25.07)% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.01% J | 1.01% | 1.05% | 1.11% | 1.14% | 1.10% | ||||||
Expenses net of fee waivers, if any | 1.01% J | 1.01% | 1.04% | 1.11% | 1.14% | 1.10% | ||||||
Expenses net of all reductions | 1.01% J | 1.01% | 1.04% | 1.11% | 1.12% | 1.09% | ||||||
Net investment income (loss) | 1.67% J | 2.29% | 2.43% | 3.15% C | 2.62% | 1.14% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 351,193 | $ | 379,351 | $ | 361,023 | $ | 175,221 | $ | 114,321 | $ | 190,992 |
Portfolio turnover rate K | 35% J,L | 21% | 37% | 45% | 84% L | 47% |
Fidelity Advisor® Energy Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 46.03 | $ | 40.53 | $ | 24.20 | $ | 17.00 | $ | 28.53 | $ | 38.36 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .32 | .88 | .73 | .60 C | .53 | .27 | ||||||
Net realized and unrealized gain (loss) | (1.87) | 5.39 | 16.11 | 7.13 | (11.71) | (9.97) | ||||||
Total from investment operations | (1.55) | 6.27 | 16.84 | 7.73 | (11.18) | (9.70) | ||||||
Distributions from net investment income | (.75) | (.77) | (.51) | (.53) | (.35) | (.08) D | ||||||
Distributions from net realized gain | - | - | - | - | - | (.05) D | ||||||
Total distributions | (.75) | (.77) | (.51) | (.53) | (.35) | (.13) | ||||||
Net asset value, end of period | $ | 43.73 | $ | 46.03 | $ | 40.53 | $ | 24.20 | $ | 17.00 | $ | 28.53 |
Total Return E,F,G | (3.35)% | 15.64% | 70.66% | 46.37% | (39.66)% | (25.28)% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.27% J | 1.27% | 1.31% | 1.38% | 1.40% | 1.37% | ||||||
Expenses net of fee waivers, if any | 1.26% J | 1.27% | 1.31% | 1.38% | 1.40% | 1.36% | ||||||
Expenses net of all reductions | 1.26% J | 1.27% | 1.31% | 1.38% | 1.38% | 1.36% | ||||||
Net investment income (loss) | 1.41% J | 2.04% | 2.16% | 2.88% C | 2.36% | .88% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 100,144 | $ | 109,406 | $ | 114,014 | $ | 62,519 | $ | 43,768 | $ | 87,147 |
Portfolio turnover rate K | 35% J,L | 21% | 37% | 45% | 84% L | 47% |
Fidelity Advisor® Energy Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 40.83 | $ | 36.08 | $ | 21.60 | $ | 15.23 | $ | 25.58 | $ | 34.39 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .19 | .59 | .51 | .45 C | .39 | .12 | ||||||
Net realized and unrealized gain (loss) | (1.65) | 4.80 | 14.38 | 6.38 | (10.52) | (8.93) | ||||||
Total from investment operations | (1.46) | 5.39 | 14.89 | 6.83 | (10.13) | (8.81) | ||||||
Distributions from net investment income | (.55) | (.64) | (.41) | (.46) | (.22) | - | ||||||
Total distributions | (.55) | (.64) | (.41) | (.46) | (.22) | - | ||||||
Net asset value, end of period | $ | 38.82 | $ | 40.83 | $ | 36.08 | $ | 21.60 | $ | 15.23 | $ | 25.58 |
Total Return D,E,F | (3.57)% | 15.09% | 69.86% | 45.68% | (39.95)% | (25.62)% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.76% I | 1.76% | 1.79% | 1.84% | 1.86% | 1.82% | ||||||
Expenses net of fee waivers, if any | 1.75% I | 1.75% | 1.78% | 1.84% | 1.86% | 1.82% | ||||||
Expenses net of all reductions | 1.75% I | 1.75% | 1.78% | 1.84% | 1.84% | 1.81% | ||||||
Net investment income (loss) | .93% I | 1.55% | 1.69% | 2.42% C | 1.90% | .42% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 79,428 | $ | 94,348 | $ | 105,747 | $ | 56,068 | $ | 45,212 | $ | 90,437 |
Portfolio turnover rate J | 35% I,K | 21% | 37% | 45% | 84% K | 47% |
Fidelity Advisor® Energy Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 47.54 | $ | 41.83 | $ | 24.95 | $ | 17.51 | $ | 29.39 | $ | 39.57 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .46 | 1.14 | .97 | .74 C | .67 | .47 | ||||||
Net realized and unrealized gain (loss) | (1.93) | 5.57 | 16.57 | 7.35 | (12.02) | (10.31) | ||||||
Total from investment operations | (1.47) | 6.71 | 17.54 | 8.09 | (11.35) | (9.84) | ||||||
Distributions from net investment income | (1.00) | (1.00) | (.66) | (.65) | (.53) | (.30) D | ||||||
Distributions from net realized gain | - | - | - | - | - | (.05) D | ||||||
Total distributions | (1.00) | (1.00) | (.66) | (.65) | (.53) | (.34) E | ||||||
Net asset value, end of period | $ | 45.07 | $ | 47.54 | $ | 41.83 | $ | 24.95 | $ | 17.51 | $ | 29.39 |
Total Return F,G | (3.08)% | 16.25% | 71.63% | 47.26% | (39.33)% | (24.85)% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .74% J | .74% | .76% | .79% | .82% | .80% | ||||||
Expenses net of fee waivers, if any | .73% J | .74% | .76% | .79% | .82% | .80% | ||||||
Expenses net of all reductions | .73% J | .74% | .76% | .79% | .80% | .79% | ||||||
Net investment income (loss) | 1.94% J | 2.57% | 2.71% | 3.47% C | 2.95% | 1.44% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 485,021 | $ | 511,737 | $ | 533,005 | $ | 177,248 | $ | 154,575 | $ | 224,599 |
Portfolio turnover rate K | 35% J,L | 21% | 37% | 45% | 84% L | 47% |
Fidelity Advisor® Energy Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 47.46 | $ | 41.75 | $ | 24.91 | $ | 17.48 | $ | 29.35 | $ | 39.35 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .50 | 1.19 | 1.02 | .80 D | .69 | .45 | ||||||
Net realized and unrealized gain (loss) | (1.94) | 5.56 | 16.52 | 7.30 | (11.97) | (10.03) | ||||||
Total from investment operations | (1.44) | 6.75 | 17.54 | 8.10 | (11.28) | (9.58) | ||||||
Distributions from net investment income | (1.03) | (1.04) | (.70) | (.67) | (.59) | (.37) E | ||||||
Distributions from net realized gain | - | - | - | - | - | (.05) E | ||||||
Total distributions | (1.03) | (1.04) | (.70) | (.67) | (.59) | (.42) | ||||||
Net asset value, end of period | $ | 44.99 | $ | 47.46 | $ | 41.75 | $ | 24.91 | $ | 17.48 | $ | 29.35 |
Total Return F,G | (3.02)% | 16.40% | 71.83% | 47.47% | (39.22)% | (24.34)% | ||||||
Ratios to Average Net Assets C,H,I | ||||||||||||
Expenses before reductions | .61% J | .62% | .63% | .65% | .66% | .65% J | ||||||
Expenses net of fee waivers, if any | .60% J | .61% | .62% | .64% | .66% | .64% J | ||||||
Expenses net of all reductions | .60% J | .61% | .62% | .64% | .64% | .64% J | ||||||
Net investment income (loss) | 2.07% J | 2.69% | 2.85% | 3.62% D | 3.10% | 1.82% J | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 95,680 | $ | 266,447 | $ | 263,802 | $ | 81,903 | $ | 40,742 | $ | 9,255 |
Portfolio turnover rate K | 35% J,L | 21% | 37% | 45% | 84% L | 47% |
Top Holdings (% of Fund's net assets) | ||
MasterCard, Inc. Class A | 9.8 | |
Wells Fargo & Co. | 7.7 | |
Bank of America Corp. | 6.4 | |
Reinsurance Group of America, Inc. | 3.8 | |
Chubb Ltd. | 3.3 | |
Citigroup, Inc. | 3.0 | |
Morgan Stanley | 2.5 | |
Moody's Corp. | 2.5 | |
Apollo Global Management, Inc. | 2.3 | |
PNC Financial Services Group, Inc. | 2.2 | |
43.5 | ||
Industries (% of Fund's net assets) | ||
Banks | 36.2 | |
Insurance | 21.5 | |
Financial Services | 19.5 | |
Capital Markets | 18.2 | |
Consumer Finance | 3.5 | |
Professional Services | 1.0 | |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
Banks - 36.2% | |||
Diversified Banks - 22.7% | |||
Bank of America Corp. | 817,556 | 27,805,080 | |
Citigroup, Inc. | 231,905 | 13,026,104 | |
KeyCorp | 473,000 | 6,872,690 | |
PNC Financial Services Group, Inc. | 62,700 | 9,480,867 | |
U.S. Bancorp | 188,100 | 7,813,674 | |
Wells Fargo & Co. | 659,328 | 33,085,079 | |
98,083,494 | |||
Regional Banks - 13.5% | |||
Associated Banc-Corp. | 203,900 | 4,283,939 | |
BOK Financial Corp. | 28,800 | 2,414,592 | |
Cadence Bank | 96,224 | 2,561,483 | |
East West Bancorp, Inc. (a) | 71,100 | 5,176,791 | |
Eastern Bankshares, Inc. | 159,300 | 2,223,828 | |
First Hawaiian, Inc. | 121,500 | 2,635,335 | |
First Interstate Bancsystem, Inc. | 146,052 | 4,019,351 | |
Heartland Financial U.S.A., Inc. | 75,628 | 2,682,525 | |
M&T Bank Corp. | 58,588 | 8,091,003 | |
Popular, Inc. | 102,571 | 8,764,692 | |
Truist Financial Corp. | 197,900 | 7,334,174 | |
UMB Financial Corp. | 37,100 | 3,060,750 | |
WesBanco, Inc. | 84,400 | 2,476,296 | |
Wintrust Financial Corp. | 24,366 | 2,363,015 | |
58,087,774 | |||
TOTAL BANKS | 156,171,268 | ||
Capital Markets - 18.2% | |||
Asset Management & Custody Banks - 7.6% | |||
AllianceBernstein Holding LP | 168,100 | 5,639,755 | |
Bank of New York Mellon Corp. | 103,600 | 5,745,656 | |
Blue Owl Capital, Inc. Class A | 175,400 | 2,725,716 | |
Carlyle Group LP | 46,900 | 1,876,938 | |
Northern Trust Corp. | 63,800 | 5,081,032 | |
Patria Investments Ltd. | 281,300 | 4,014,151 | |
State Street Corp. | 104,800 | 7,741,576 | |
32,824,824 | |||
Financial Exchanges & Data - 4.3% | |||
Bolsa Mexicana de Valores S.A.B. de CV | 1,735,900 | 3,516,883 | |
MarketAxess Holdings, Inc. | 18,100 | 4,081,731 | |
Moody's Corp. | 27,500 | 10,781,100 | |
18,379,714 | |||
Investment Banking & Brokerage - 6.3% | |||
Lazard, Inc. Class A | 107,852 | 4,204,071 | |
Morgan Stanley | 124,000 | 10,817,760 | |
Raymond James Financial, Inc. | 47,750 | 5,261,095 | |
Stifel Financial Corp. | 66,900 | 4,880,355 | |
Virtu Financial, Inc. Class A | 124,060 | 2,082,967 | |
27,246,248 | |||
TOTAL CAPITAL MARKETS | 78,450,786 | ||
Consumer Finance - 3.5% | |||
Consumer Finance - 3.5% | |||
Discover Financial Services | 74,100 | 7,819,032 | |
FirstCash Holdings, Inc. | 41,971 | 4,817,012 | |
OneMain Holdings, Inc. | 57,400 | 2,732,240 | |
15,368,284 | |||
Financial Services - 19.5% | |||
Commercial & Residential Mortgage Finance - 1.5% | |||
Essent Group Ltd. | 76,800 | 4,236,288 | |
Walker & Dunlop, Inc. | 23,500 | 2,269,865 | |
6,506,153 | |||
Diversified Financial Services - 3.5% | |||
Apollo Global Management, Inc. | 99,500 | 9,989,800 | |
Corebridge Financial, Inc. | 211,301 | 5,107,145 | |
15,096,945 | |||
Multi-Sector Holdings - 0.6% | |||
Cannae Holdings, Inc. (b) | 128,540 | 2,602,935 | |
Transaction & Payment Processing Services - 13.9% | |||
Fiserv, Inc. (b) | 56,600 | 8,029,842 | |
FleetCor Technologies, Inc. (b) | 15,000 | 4,348,950 | |
Global Payments, Inc. | 42,100 | 5,608,983 | |
MasterCard, Inc. Class A | 93,800 | 42,137,772 | |
60,125,547 | |||
TOTAL FINANCIAL SERVICES | 84,331,580 | ||
Insurance - 21.5% | |||
Insurance Brokers - 4.6% | |||
Arthur J. Gallagher & Co. | 25,700 | 5,966,512 | |
BRP Group, Inc. (b) | 202,504 | 4,544,190 | |
Marsh & McLennan Companies, Inc. | 47,800 | 9,265,552 | |
19,776,254 | |||
Life & Health Insurance - 1.3% | |||
Globe Life, Inc. | 46,427 | 5,702,164 | |
Multi-Line Insurance - 0.0% | |||
Assurant, Inc. | 200 | 33,590 | |
Property & Casualty Insurance - 11.7% | |||
American Financial Group, Inc. | 49,200 | 5,923,680 | |
Beazley PLC | 483,300 | 3,334,987 | |
Chubb Ltd. | 59,000 | 14,455,000 | |
Direct Line Insurance Group PLC (b) | 1,510,900 | 3,243,610 | |
Fidelity National Financial, Inc. | 83,400 | 4,172,502 | |
First American Financial Corp. | 49,819 | 3,006,577 | |
Hartford Financial Services Group, Inc. | 85,500 | 7,435,080 | |
Hiscox Ltd. | 423,800 | 5,580,279 | |
Lancashire Holdings Ltd. | 426,200 | 3,278,548 | |
50,430,263 | |||
Reinsurance - 3.9% | |||
Enstar Group Ltd. (b) | 1,149 | 306,657 | |
Reinsurance Group of America, Inc. | 94,900 | 16,502,161 | |
16,808,818 | |||
TOTAL INSURANCE | 92,751,089 | ||
Professional Services - 1.0% | |||
Research & Consulting Services - 1.0% | |||
Dun & Bradstreet Holdings, Inc. | 365,000 | 4,230,350 | |
TOTAL COMMON STOCKS (Cost $349,755,765) | 431,303,357 | ||
Money Market Funds - 1.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 1,037,696 | 1,037,904 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 4,941,406 | 4,941,900 | |
TOTAL MONEY MARKET FUNDS (Cost $5,979,804) | 5,979,804 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $355,735,569) | 437,283,161 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (5,774,553) |
NET ASSETS - 100.0% | 431,508,608 |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | - | 53,046,060 | 52,008,156 | 28,298 | - | - | 1,037,904 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 3,295,125 | 32,331,811 | 30,685,036 | 2,011 | - | - | 4,941,900 | 0.0% |
Total | 3,295,125 | 85,377,871 | 82,693,192 | 30,309 | - | - | 5,979,804 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 431,303,357 | 431,303,357 | - | - |
Money Market Funds | 5,979,804 | 5,979,804 | - | - |
Total Investments in Securities: | 437,283,161 | 437,283,161 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $4,703,526) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $349,755,765) | $ | 431,303,357 | ||
Fidelity Central Funds (cost $5,979,804) | 5,979,804 | |||
Total Investment in Securities (cost $355,735,569) | $ | 437,283,161 | ||
Receivable for fund shares sold | 155,252 | |||
Dividends receivable | 352,389 | |||
Distributions receivable from Fidelity Central Funds | 4,896 | |||
Prepaid expenses | 1,090 | |||
Total assets | 437,796,788 | |||
Liabilities | ||||
Payable for investments purchased | $ | 430,117 | ||
Payable for fund shares redeemed | 523,557 | |||
Accrued management fee | 186,261 | |||
Distribution and service plan fees payable | 94,664 | |||
Other affiliated payables | 74,779 | |||
Other payables and accrued expenses | 36,902 | |||
Collateral on securities loaned | 4,941,900 | |||
Total Liabilities | 6,288,180 | |||
Net Assets | $ | 431,508,608 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 348,348,383 | ||
Total accumulated earnings (loss) | 83,160,225 | |||
Net Assets | $ | 431,508,608 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($176,706,825 ÷ 6,289,850 shares)(a) | $ | 28.09 | ||
Maximum offering price per share (100/94.25 of $28.09) | $ | 29.80 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($66,892,122 ÷ 2,411,501 shares)(a) | $ | 27.74 | ||
Maximum offering price per share (100/96.50 of $27.74) | $ | 28.75 | ||
Class C : | ||||
Net Asset Value and offering price per share ($36,552,563 ÷ 1,400,624 shares)(a) | $ | 26.10 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($107,942,372 ÷ 3,710,041 shares) | $ | 29.09 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($43,414,726 ÷ 1,494,645 shares) | $ | 29.05 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 6,098,163 | ||
Interest | 40,453 | |||
Income from Fidelity Central Funds (including $2,011 from security lending) | 30,309 | |||
Total Income | 6,168,925 | |||
Expenses | ||||
Management fee | $ | 1,093,530 | ||
Transfer agent fees | 355,181 | |||
Distribution and service plan fees | 537,953 | |||
Accounting fees | 74,079 | |||
Custodian fees and expenses | 19,207 | |||
Independent trustees' fees and expenses | 1,260 | |||
Registration fees | 59,941 | |||
Audit | 28,061 | |||
Legal | 2,899 | |||
Miscellaneous | 1,111 | |||
Total expenses before reductions | 2,173,222 | |||
Expense reductions | (17,941) | |||
Total expenses after reductions | 2,155,281 | |||
Net Investment income (loss) | 4,013,644 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 6,032,559 | |||
Redemptions in-kind | 7,051,602 | |||
Foreign currency transactions | 2,235 | |||
Total net realized gain (loss) | 13,086,396 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 20,077,707 | |||
Net gain (loss) | 33,164,103 | |||
Net increase (decrease) in net assets resulting from operations | $ | 37,177,747 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 4,013,644 | $ | 10,530,140 |
Net realized gain (loss) | 13,086,396 | (3,804,150) | ||
Change in net unrealized appreciation (depreciation) | 20,077,707 | 9,650,146 | ||
Net increase (decrease) in net assets resulting from operations | 37,177,747 | 16,376,136 | ||
Distributions to shareholders | (8,982,095) | (30,785,451) | ||
Share transactions - net increase (decrease) | (69,948,064) | (23,222,656) | ||
Total increase (decrease) in net assets | (41,752,412) | (37,631,971) | ||
Net Assets | ||||
Beginning of period | 473,261,020 | 510,892,991 | ||
End of period | $ | 431,508,608 | $ | 473,261,020 |
Fidelity Advisor® Financials Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.84 | $ | 26.31 | $ | 28.41 | $ | 18.00 | $ | 21.47 | $ | 21.84 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .24 | .51 | .44 | .42 | .40 | .27 | ||||||
Net realized and unrealized gain (loss) | 2.65 | .50 | (1.32) | 10.55 | (3.59) | .07 | ||||||
Total from investment operations | 2.89 | 1.01 | (.88) | 10.97 | (3.19) | .34 | ||||||
Distributions from net investment income | (.64) | (.45) | (.43) | (.45) | (.28) | (.18) | ||||||
Distributions from net realized gain | - | (1.03) | (.80) | (.11) | - | (.53) | ||||||
Total distributions | (.64) | (1.48) | (1.22) C | (.56) | (.28) | (.71) | ||||||
Net asset value, end of period | $ | 28.09 | $ | 25.84 | $ | 26.31 | $ | 28.41 | $ | 18.00 | $ | 21.47 |
Total Return D,E,F | 11.21% | 4.17% | (3.40)% | 61.84% | (15.15)% | 2.05% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.06% I | 1.05% | 1.03% | 1.07% | 1.09% | 1.08% | ||||||
Expenses net of fee waivers, if any | 1.05% I | 1.04% | 1.03% | 1.07% | 1.09% | 1.07% | ||||||
Expenses net of all reductions | 1.05% I | 1.04% | 1.03% | 1.06% | 1.08% | 1.07% | ||||||
Net investment income (loss) | 1.89% I | 2.02% | 1.55% | 1.76% | 1.97% | 1.31% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 176,707 | $ | 169,271 | $ | 189,413 | $ | 181,251 | $ | 104,761 | $ | 145,799 |
Portfolio turnover rate J | 46% I,K | 55% | 40% | 51% | 88% K | 51% |
Fidelity Advisor® Financials Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.49 | $ | 25.98 | $ | 28.08 | $ | 17.79 | $ | 21.23 | $ | 21.60 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .21 | .44 | .37 | .36 | .34 | .21 | ||||||
Net realized and unrealized gain (loss) | 2.61 | .49 | (1.31) | 10.44 | (3.55) | .07 | ||||||
Total from investment operations | 2.82 | .93 | (.94) | 10.80 | (3.21) | .28 | ||||||
Distributions from net investment income | (.57) | (.39) | (.37) | (.39) | (.23) | (.13) | ||||||
Distributions from net realized gain | - | (1.03) | (.80) | (.11) | - | (.53) | ||||||
Total distributions | (.57) | (1.42) | (1.16) C | (.51) C | (.23) | (.65) C | ||||||
Net asset value, end of period | $ | 27.74 | $ | 25.49 | $ | 25.98 | $ | 28.08 | $ | 17.79 | $ | 21.23 |
Total Return D,E,F | 11.12% | 3.88% | (3.63)% | 61.48% | (15.38)% | 1.77% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.30% I | 1.29% | 1.28% | 1.32% | 1.35% | 1.34% | ||||||
Expenses net of fee waivers, if any | 1.29% I | 1.28% | 1.28% | 1.32% | 1.35% | 1.34% | ||||||
Expenses net of all reductions | 1.29% I | 1.28% | 1.28% | 1.31% | 1.34% | 1.33% | ||||||
Net investment income (loss) | 1.65% I | 1.78% | 1.30% | 1.51% | 1.72% | 1.04% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 66,892 | $ | 64,588 | $ | 69,176 | $ | 60,508 | $ | 34,828 | $ | 48,210 |
Portfolio turnover rate J | 46% I,K | 55% | 40% | 51% | 88% K | 51% |
Fidelity Advisor® Financials Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.92 | $ | 24.44 | $ | 26.48 | $ | 16.80 | $ | 20.04 | $ | 20.41 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .14 | .30 | .21 | .22 | .23 | .11 | ||||||
Net realized and unrealized gain (loss) | 2.45 | .46 | (1.23) | 9.85 | (3.37) | .07 | ||||||
Total from investment operations | 2.59 | .76 | (1.02) | 10.07 | (3.14) | .18 | ||||||
Distributions from net investment income | (.41) | (.25) | (.23) | (.28) | (.10) | (.03) | ||||||
Distributions from net realized gain | - | (1.03) | (.80) | (.11) | - | (.53) | ||||||
Total distributions | (.41) | (1.28) | (1.02) C | (.39) | (.10) | (.55) C | ||||||
Net asset value, end of period | $ | 26.10 | $ | 23.92 | $ | 24.44 | $ | 26.48 | $ | 16.80 | $ | 20.04 |
Total Return D,E,F | 10.84% | 3.38% | (4.13)% | 60.62% | (15.79)% | 1.29% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.81% I | 1.79% | 1.79% | 1.83% | 1.84% | 1.83% | ||||||
Expenses net of fee waivers, if any | 1.80% I | 1.79% | 1.78% | 1.82% | 1.84% | 1.82% | ||||||
Expenses net of all reductions | 1.80% I | 1.79% | 1.78% | 1.82% | 1.83% | 1.82% | ||||||
Net investment income (loss) | 1.15% I | 1.27% | .80% | 1.00% | 1.22% | .56% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 36,553 | $ | 41,339 | $ | 58,177 | $ | 57,856 | $ | 41,947 | $ | 71,609 |
Portfolio turnover rate J | 46% I,K | 55% | 40% | 51% | 88% K | 51% |
Fidelity Advisor® Financials Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.77 | $ | 27.20 | $ | 29.32 | $ | 18.55 | $ | 22.11 | $ | 22.47 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .29 | .60 | .54 | .52 | .47 | .33 | ||||||
Net realized and unrealized gain (loss) | 2.74 | .52 | (1.37) | 10.86 | (3.69) | .08 | ||||||
Total from investment operations | 3.03 | 1.12 | (.83) | 11.38 | (3.22) | .41 | ||||||
Distributions from net investment income | (.71) | (.53) | (.50) | (.50) | (.34) | (.25) | ||||||
Distributions from net realized gain | - | (1.03) | (.80) | (.11) | - | (.53) | ||||||
Total distributions | (.71) | (1.55) C | (1.29) C | (.61) | (.34) | (.77) C | ||||||
Net asset value, end of period | $ | 29.09 | $ | 26.77 | $ | 27.20 | $ | 29.32 | $ | 18.55 | $ | 22.11 |
Total Return D,E | 11.35% | 4.47% | (3.13)% | 62.31% | (14.91)% | 2.36% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .78% H | .77% | .76% | .79% | .80% | .80% | ||||||
Expenses net of fee waivers, if any | .78% H | .77% | .76% | .79% | .80% | .79% | ||||||
Expenses net of all reductions | .78% H | .77% | .76% | .78% | .78% | .79% | ||||||
Net investment income (loss) | 2.17% H | 2.29% | 1.82% | 2.04% | 2.27% | 1.59% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 107,942 | $ | 110,244 | $ | 131,118 | $ | 118,424 | $ | 85,299 | $ | 107,059 |
Portfolio turnover rate I | 46% H,J | 55% | 40% | 51% | 88% J | 51% |
Fidelity Advisor® Financials Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.71 | $ | 27.16 | $ | 29.28 | $ | 18.53 | $ | 22.09 | $ | 21.99 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .30 | .63 | .57 | .54 | .49 | .25 | ||||||
Net realized and unrealized gain (loss) | 2.75 | .51 | (1.37) | 10.86 | (3.67) | .66 | ||||||
Total from investment operations | 3.05 | 1.14 | (.80) | 11.40 | (3.18) | .91 | ||||||
Distributions from net investment income | (.71) | (.57) | (.53) | (.54) | (.38) | (.29) | ||||||
Distributions from net realized gain | - | (1.03) | (.80) | (.11) | - | (.53) | ||||||
Total distributions | (.71) | (1.59) D | (1.32) D | (.65) | (.38) | (.81) D | ||||||
Net asset value, end of period | $ | 29.05 | $ | 26.71 | $ | 27.16 | $ | 29.28 | $ | 18.53 | $ | 22.09 |
Total Return E,F | 11.47% | 4.58% | (3.03)% | 62.53% | (14.79)% | 4.72% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .65% I | .64% | .64% | .66% | .67% | .66% I | ||||||
Expenses net of fee waivers, if any | .64% I | .64% | .63% | .66% | .67% | .65% I | ||||||
Expenses net of all reductions | .64% I | .64% | .63% | .65% | .65% | .65% I | ||||||
Net investment income (loss) | 2.30% I | 2.42% | 1.95% | 2.17% | 2.40% | 1.44% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 43,415 | $ | 87,819 | $ | 63,009 | $ | 49,214 | $ | 30,790 | $ | 7,041 |
Portfolio turnover rate J | 46% I,K | 55% | 40% | 51% | 88% K | 51% |
Top Holdings (% of Fund's net assets) | ||
Boston Scientific Corp. | 10.0 | |
Eli Lilly & Co. | 8.0 | |
UnitedHealth Group, Inc. | 7.1 | |
Danaher Corp. | 6.7 | |
Merck & Co., Inc. | 4.8 | |
Regeneron Pharmaceuticals, Inc. | 4.6 | |
Penumbra, Inc. | 4.1 | |
CVS Health Corp. | 3.6 | |
Cigna Group | 3.6 | |
Thermo Fisher Scientific, Inc. | 2.8 | |
55.3 | ||
Industries (% of Fund's net assets) | ||
Health Care Equipment & Supplies | 24.8 | |
Health Care Providers & Services | 23.3 | |
Biotechnology | 19.3 | |
Pharmaceuticals | 16.8 | |
Life Sciences Tools & Services | 13.4 | |
Health Care Technology | 2.2 | |
Financial Services | 0.2 | |
Common Stocks - 98.8% | |||
Shares | Value ($) | ||
Biotechnology - 18.7% | |||
Biotechnology - 18.7% | |||
Acelyrin, Inc. (a) | 600,000 | 4,572,000 | |
Acumen Pharmaceuticals, Inc. (b) | 600,000 | 1,908,000 | |
Allogene Therapeutics, Inc. (a)(b) | 2,883,755 | 10,150,818 | |
Alnylam Pharmaceuticals, Inc. (b) | 234,000 | 40,460,940 | |
Arcellx, Inc. (b) | 280,000 | 17,315,200 | |
Arcus Biosciences, Inc. (b) | 450,000 | 6,813,000 | |
Argenx SE ADR (b) | 176,000 | 66,969,760 | |
Ascendis Pharma A/S sponsored ADR (b) | 545,000 | 70,811,850 | |
Avidity Biosciences, Inc. (a)(b) | 794,880 | 9,721,382 | |
Blueprint Medicines Corp. (b) | 510,000 | 40,560,300 | |
Cargo Therapeutics, Inc. (a) | 640,301 | 14,093,025 | |
Caris Life Sciences, Inc. (b)(c)(d) | 1,098,028 | 3,030,557 | |
Celldex Therapeutics, Inc. (b) | 450,000 | 15,849,000 | |
Cytokinetics, Inc. (a)(b) | 1,000,000 | 78,130,000 | |
Immunocore Holdings PLC ADR (a)(b) | 236,462 | 17,093,838 | |
Janux Therapeutics, Inc. (b) | 350,000 | 2,996,000 | |
Keros Therapeutics, Inc. (b) | 420,000 | 23,251,200 | |
Legend Biotech Corp. ADR (b) | 1,200,000 | 66,072,000 | |
Morphic Holding, Inc. (b) | 250,000 | 7,922,500 | |
Nuvalent, Inc. Class A (a)(b) | 425,300 | 31,969,801 | |
Poseida Therapeutics, Inc. (a)(b) | 1,292,498 | 4,446,193 | |
Regeneron Pharmaceuticals, Inc. (b) | 235,000 | 221,553,300 | |
Repligen Corp. (a)(b) | 64,000 | 12,121,600 | |
Spyre Therapeutics, Inc. (a)(b) | 330,000 | 8,550,300 | |
Summit Therapeutics, Inc. (b) | 93,740 | 367,461 | |
Vaxcyte, Inc. (b) | 920,000 | 65,706,400 | |
Viridian Therapeutics, Inc. (b) | 750,000 | 14,437,500 | |
Xencor, Inc. (b) | 91,200 | 1,705,440 | |
Xenon Pharmaceuticals, Inc. (b) | 780,000 | 35,271,600 | |
Zentalis Pharmaceuticals, Inc. (b) | 560,000 | 6,636,000 | |
900,486,965 | |||
Health Care Equipment & Supplies - 24.8% | |||
Health Care Equipment - 24.8% | |||
Boston Scientific Corp. (b) | 7,600,000 | 480,775,999 | |
Edwards Lifesciences Corp. (b) | 950,000 | 74,546,500 | |
Glaukos Corp. (b) | 600,000 | 53,418,000 | |
Inspire Medical Systems, Inc. (a)(b) | 380,000 | 80,130,600 | |
Insulet Corp. (b) | 400,000 | 76,348,000 | |
Intuitive Surgical, Inc. (b) | 136,000 | 51,437,920 | |
Masimo Corp. (a)(b) | 670,000 | 86,389,800 | |
Outset Medical, Inc. (a)(b) | 600,000 | 1,824,000 | |
Penumbra, Inc. (b) | 785,000 | 197,969,150 | |
PROCEPT BioRobotics Corp. (a)(b) | 400,000 | 18,520,000 | |
Shockwave Medical, Inc. (b) | 75,000 | 16,968,750 | |
Stryker Corp. | 180,000 | 60,386,400 | |
1,198,715,119 | |||
Health Care Providers & Services - 23.3% | |||
Health Care Facilities - 2.2% | |||
Acadia Healthcare Co., Inc. (b) | 480,000 | 39,427,200 | |
Surgery Partners, Inc. (b) | 2,180,000 | 66,904,200 | |
106,331,400 | |||
Health Care Services - 10.0% | |||
agilon health, Inc. (a)(b) | 6,500,000 | 38,285,000 | |
BrightSpring Health Services, Inc. (a) | 1,750,000 | 19,285,000 | |
Cigna Group | 570,000 | 171,541,500 | |
CVS Health Corp. | 2,350,000 | 174,769,500 | |
LifeStance Health Group, Inc. (b) | 5,400,000 | 32,292,000 | |
Privia Health Group, Inc. (a)(b) | 2,280,000 | 45,964,800 | |
482,137,800 | |||
Managed Health Care - 11.1% | |||
Alignment Healthcare, Inc. (b) | 2,785,231 | 18,661,048 | |
Centene Corp. (b) | 1,780,000 | 134,051,800 | |
Humana, Inc. | 28,000 | 10,585,680 | |
Molina Healthcare, Inc. (b) | 82,500 | 29,406,300 | |
UnitedHealth Group, Inc. | 670,000 | 342,865,800 | |
535,570,628 | |||
TOTAL HEALTH CARE PROVIDERS & SERVICES | 1,124,039,828 | ||
Health Care Technology - 1.9% | |||
Health Care Technology - 1.9% | |||
Evolent Health, Inc. | 803,226 | 23,622,877 | |
Evolent Health, Inc. Class A (b) | 320,000 | 9,411,200 | |
Phreesia, Inc. (b) | 800,000 | 20,384,000 | |
Veeva Systems, Inc. Class A (b) | 185,000 | 38,370,850 | |
91,788,927 | |||
Life Sciences Tools & Services - 13.4% | |||
Life Sciences Tools & Services - 13.4% | |||
10X Genomics, Inc. (a)(b) | 1,596,306 | 66,518,071 | |
Bruker Corp. | 630,000 | 45,051,300 | |
Danaher Corp. | 1,340,000 | 321,479,400 | |
IQVIA Holdings, Inc. (b) | 240,000 | 49,975,200 | |
Lonza Group AG | 42,000 | 20,534,041 | |
Thermo Fisher Scientific, Inc. | 250,000 | 134,745,000 | |
West Pharmaceutical Services, Inc. | 28,000 | 10,444,840 | |
648,747,852 | |||
Pharmaceuticals - 16.7% | |||
Pharmaceuticals - 16.7% | |||
AstraZeneca PLC (United Kingdom) | 585,000 | 77,557,453 | |
Edgewise Therapeutics, Inc. (b) | 300,000 | 5,349,000 | |
Eli Lilly & Co. | 600,000 | 387,366,000 | |
Enliven Therapeutics, Inc. (b) | 280,000 | 4,396,000 | |
Merck & Co., Inc. | 1,900,000 | 229,482,000 | |
Pharvaris BV (b) | 458,789 | 13,717,791 | |
Royalty Pharma PLC | 1,760,000 | 49,966,400 | |
Structure Therapeutics, Inc. ADR | 380,000 | 16,575,600 | |
UCB SA | 128,000 | 12,076,174 | |
Verona Pharma PLC ADR (b) | 400,000 | 7,340,000 | |
803,826,418 | |||
TOTAL COMMON STOCKS (Cost $3,081,464,298) | 4,767,605,109 | ||
Convertible Preferred Stocks - 1.2% | |||
Shares | Value ($) | ||
Biotechnology - 0.6% | |||
Biotechnology - 0.6% | |||
Asimov, Inc. Series B (b)(c)(d) | 67,547 | 3,044,343 | |
Caris Life Sciences, Inc. Series D (b)(c)(d) | 2,082,481 | 5,747,648 | |
Cleerly, Inc. Series C (b)(c)(d) | 882,089 | 9,535,382 | |
Element Biosciences, Inc. Series C (b)(c)(d) | 376,690 | 5,646,583 | |
ElevateBio LLC Series C (b)(c)(d) | 163,300 | 540,523 | |
Inscripta, Inc. Series E (b)(c)(d) | 826,424 | 2,727,199 | |
27,241,678 | |||
Financial Services - 0.2% | |||
Diversified Financial Services - 0.1% | |||
Thriveworks TopCo LLC Series B (b)(c)(d)(e) | 327,591 | 3,803,332 | |
Specialized Finance - 0.1% | |||
Saluda Medical, Inc. Series E (c)(d) | 781,583 | 6,745,061 | |
TOTAL FINANCIAL SERVICES | 10,548,393 | ||
Health Care Providers & Services - 0.0% | |||
Health Care Services - 0.0% | |||
dMed Biopharmaceutical Co. Ltd. Series C (b)(c)(d) | 236,142 | 1,400,322 | |
Health Care Technology - 0.3% | |||
Health Care Technology - 0.3% | |||
Aledade, Inc.: | |||
Series B1 (b)(c)(d) | 130,618 | 6,269,664 | |
Series E1 (b)(c)(d) | 46,526 | 2,233,248 | |
Omada Health, Inc. Series E (b)(c)(d) | 1,456,953 | 6,177,481 | |
Wugen, Inc. Series B (b)(c)(d) | 300,054 | 1,701,306 | |
16,381,699 | |||
Pharmaceuticals - 0.1% | |||
Pharmaceuticals - 0.1% | |||
Galvanize Therapeutics Series B (b)(c)(d) | 2,552,870 | 2,833,686 | |
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $91,163,913) | 58,405,778 | ||
Money Market Funds - 3.8% | |||
Shares | Value ($) | ||
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g) (Cost $182,968,787) | 182,950,492 | 182,968,787 | |
TOTAL INVESTMENT IN SECURITIES - 103.8% (Cost $3,355,596,998) | 5,008,979,674 |
NET OTHER ASSETS (LIABILITIES) - (3.8)% | (181,328,362) |
NET ASSETS - 100.0% | 4,827,651,312 |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $61,436,335 or 1.3% of net assets. |
(d) | Level 3 security |
(e) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Aledade, Inc. Series B1 | 5/07/21 | 5,001,455 |
Aledade, Inc. Series E1 | 5/20/22 | 2,317,665 |
Asimov, Inc. Series B | 10/29/21 | 6,260,303 |
Caris Life Sciences, Inc. | 10/06/22 | 6,148,957 |
Caris Life Sciences, Inc. Series D | 5/11/21 | 16,868,096 |
Cleerly, Inc. Series C | 7/08/22 | 10,391,538 |
dMed Biopharmaceutical Co. Ltd. Series C | 12/01/20 | 3,353,960 |
Element Biosciences, Inc. Series C | 6/21/21 | 7,743,503 |
ElevateBio LLC Series C | 3/09/21 | 685,044 |
Galvanize Therapeutics Series B | 3/29/22 | 4,419,746 |
Inscripta, Inc. Series E | 3/30/21 | 7,297,324 |
Omada Health, Inc. Series E | 12/22/21 | 8,734,725 |
Saluda Medical, Inc. Series E | 4/06/23 | 6,310,345 |
Thriveworks TopCo LLC Series B | 7/23/21 - 2/25/22 | 9,402,913 |
Wugen, Inc. Series B | 7/09/21 | 2,326,889 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 41,922,825 | 383,131,480 | 425,054,305 | 478,097 | - | - | - | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 260,931,533 | 414,913,046 | 492,875,792 | 121,365 | - | - | 182,968,787 | 0.7% |
Total | 302,854,358 | 798,044,526 | 917,930,097 | 599,462 | - | - | 182,968,787 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 4,767,605,109 | 4,666,483,058 | 98,091,494 | 3,030,557 |
Convertible Preferred Stocks | 58,405,778 | - | - | 58,405,778 |
Money Market Funds | 182,968,787 | 182,968,787 | - | - |
Total Investments in Securities: | 5,008,979,674 | 4,849,451,845 | 98,091,494 | 61,436,335 |
Investments in Securities: | |||
Preferred Stocks | |||
Beginning Balance | $ | 71,533,558 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (9,605,077) | ||
Cost of Purchases | - | ||
Proceeds of Sales | (3,522,703) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 58,405,778 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | (9,607,442) | |
Other Investments in Securities | |||
Beginning Balance | $ | 6,148,957 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (3,118,400) | ||
Cost of Purchases | - | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 3,030,557 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | (3,118,400) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $177,722,014) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $3,172,628,211) | $ | 4,826,010,887 | ||
Fidelity Central Funds (cost $182,968,787) | 182,968,787 | |||
Total Investment in Securities (cost $3,355,596,998) | $ | 5,008,979,674 | ||
Foreign currency held at value (cost $867,717) | 867,478 | |||
Receivable for investments sold | 27,570,495 | |||
Receivable for fund shares sold | 2,953,489 | |||
Dividends receivable | 3,033,916 | |||
Distributions receivable from Fidelity Central Funds | 43,403 | |||
Prepaid expenses | 8,679 | |||
Total assets | 5,043,457,134 | |||
Liabilities | ||||
Payable to custodian bank | $ | 1,250,357 | ||
Payable for investments purchased | 21,616,458 | |||
Payable for fund shares redeemed | 6,397,739 | |||
Accrued management fee | 2,122,765 | |||
Distribution and service plan fees payable | 679,371 | |||
Other affiliated payables | 708,351 | |||
Other payables and accrued expenses | 63,872 | |||
Collateral on securities loaned | 182,966,909 | |||
Total Liabilities | 215,805,822 | |||
Net Assets | $ | 4,827,651,312 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,134,424,930 | ||
Total accumulated earnings (loss) | 1,693,226,382 | |||
Net Assets | $ | 4,827,651,312 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($1,452,056,897 ÷ 24,087,765 shares)(a) | $ | 60.28 | ||
Maximum offering price per share (100/94.25 of $60.28) | $ | 63.96 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($300,043,670 ÷ 5,453,606 shares)(a) | $ | 55.02 | ||
Maximum offering price per share (100/96.50 of $55.02) | $ | 57.02 | ||
Class C : | ||||
Net Asset Value and offering price per share ($296,454,408 ÷ 6,660,880 shares)(a) | $ | 44.51 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($2,169,047,687 ÷ 32,335,434 shares) | $ | 67.08 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($610,048,650 ÷ 9,062,779 shares) | $ | 67.31 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Consolidated Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 16,228,460 | ||
Income from Fidelity Central Funds (including $121,365 from security lending) | 599,462 | |||
Total Income | 16,827,922 | |||
Expenses | ||||
Management fee | $ | 13,114,224 | ||
Transfer agent fees | 3,890,713 | |||
Distribution and service plan fees | 4,062,528 | |||
Accounting fees | 461,263 | |||
Custodian fees and expenses | 26,598 | |||
Independent trustees' fees and expenses | 15,288 | |||
Registration fees | 102,275 | |||
Audit | 27,553 | |||
Legal | 5,865 | |||
Interest | 37,301 | |||
Miscellaneous | 11,636 | |||
Total expenses before reductions | 21,755,244 | |||
Expense reductions | (214,557) | |||
Total expenses after reductions | 21,540,687 | |||
Net Investment income (loss) | (4,712,765) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 98,629,034 | |||
Foreign currency transactions | 17,584 | |||
Total net realized gain (loss) | 98,646,618 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (103,385,673) | |||
Assets and liabilities in foreign currencies | 17,008 | |||
Total change in net unrealized appreciation (depreciation) | (103,368,665) | |||
Net gain (loss) | (4,722,047) | |||
Net increase (decrease) in net assets resulting from operations | $ | (9,434,812) |
Consolidated Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (4,712,765) | $ | (17,932,909) |
Net realized gain (loss) | 98,646,618 | 45,561,038 | ||
Change in net unrealized appreciation (depreciation) | (103,368,665) | 188,268,771 | ||
Net increase (decrease) in net assets resulting from operations | (9,434,812) | 215,896,900 | ||
Share transactions - net increase (decrease) | (834,842,694) | (425,461,599) | ||
Total increase (decrease) in net assets | (844,277,506) | (209,564,699) | ||
Net Assets | ||||
Beginning of period | 5,671,928,818 | 5,881,493,517 | ||
End of period | $ | 4,827,651,312 | $ | 5,671,928,818 |
Fidelity Advisor® Health Care Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 59.73 | $ | 57.59 | $ | 69.58 | $ | 61.07 | $ | 49.21 | $ | 50.14 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.09) | (.24) | (.26) | (.26) | (.04) | (.07) | ||||||
Net realized and unrealized gain (loss) | .64 | 2.38 | (7.58) | 12.55 | 12.08 | 1.36 | ||||||
Total from investment operations | .55 | 2.14 | (7.84) | 12.29 | 12.04 | 1.29 | ||||||
Distributions from net investment income | - | - | - | (.16) | - | - | ||||||
Distributions from net realized gain | - | - | (4.15) | (3.62) | (.18) | (2.22) | ||||||
Total distributions | - | - | (4.15) | (3.78) | (.18) | (2.22) | ||||||
Net asset value, end of period | $ | 60.28 | $ | 59.73 | $ | 57.59 | $ | 69.58 | $ | 61.07 | $ | 49.21 |
Total Return C,D,E | .92% | 3.72% | (11.90)% | 20.70% | 24.50% | 2.87% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .98% H | .98% | .97% | .98% | 1.01% | 1.02% | ||||||
Expenses net of fee waivers, if any | .97% H | .97% | .97% | .98% | 1.00% | 1.02% | ||||||
Expenses net of all reductions | .97% H | .97% | .97% | .98% | 1.00% | 1.02% | ||||||
Net investment income (loss) | (.30)% H | (.42)% | (.42)% | (.39)% | (.07)% | (.14)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,452,057 | $ | 1,535,212 | $ | 1,488,238 | $ | 1,735,235 | $ | 1,372,082 | $ | 1,121,411 |
Portfolio turnover rate I | 40% H | 47% | 33% | 38% | 53% J | 45% |
Fidelity Advisor® Health Care Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 54.58 | $ | 52.76 | $ | 64.25 | $ | 56.62 | $ | 45.75 | $ | 46.89 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.14) | (.36) | (.38) | (.39) | (.16) | (.18) | ||||||
Net realized and unrealized gain (loss) | .58 | 2.18 | (6.96) | 11.61 | 11.21 | 1.26 | ||||||
Total from investment operations | .44 | 1.82 | (7.34) | 11.22 | 11.05 | 1.08 | ||||||
Distributions from net investment income | - | - | - | (.02) | - | - | ||||||
Distributions from net realized gain | - | - | (4.15) | (3.57) | (.18) | (2.22) | ||||||
Total distributions | - | - | (4.15) | (3.59) | (.18) | (2.22) | ||||||
Net asset value, end of period | $ | 55.02 | $ | 54.58 | $ | 52.76 | $ | 64.25 | $ | 56.62 | $ | 45.75 |
Total Return C,D,E | .81% | 3.45% | (12.12)% | 20.39% | 24.19% | 2.61% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.23% H | 1.23% | 1.22% | 1.23% | 1.26% | 1.28% | ||||||
Expenses net of fee waivers, if any | 1.22% H | 1.23% | 1.22% | 1.23% | 1.26% | 1.28% | ||||||
Expenses net of all reductions | 1.22% H | 1.23% | 1.22% | 1.23% | 1.26% | 1.28% | ||||||
Net investment income (loss) | (.55)% H | (.67)% | (.67)% | (.65)% | (.33)% | (.40)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 300,044 | $ | 315,963 | $ | 330,452 | $ | 402,175 | $ | 349,280 | $ | 306,758 |
Portfolio turnover rate I | 40% H | 47% | 33% | 38% | 53% J | 45% |
Fidelity Advisor® Health Care Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 44.26 | $ | 43.00 | $ | 53.40 | $ | 47.63 | $ | 38.70 | $ | 40.21 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.22) | (.51) | (.55) | (.58) | (.34) | (.34) | ||||||
Net realized and unrealized gain (loss) | .47 | 1.77 | (5.70) | 9.71 | 9.45 | 1.05 | ||||||
Total from investment operations | .25 | 1.26 | (6.25) | 9.13 | 9.11 | .71 | ||||||
Distributions from net realized gain | - | - | (4.15) | (3.36) | (.18) | (2.22) | ||||||
Total distributions | - | - | (4.15) | (3.36) | (.18) | (2.22) | ||||||
Net asset value, end of period | $ | 44.51 | $ | 44.26 | $ | 43.00 | $ | 53.40 | $ | 47.63 | $ | 38.70 |
Total Return C,D,E | .56% | 2.93% | (12.56)% | 19.78% | 23.58% | 2.10% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.73% H | 1.73% | 1.72% | 1.73% | 1.76% | 1.77% | ||||||
Expenses net of fee waivers, if any | 1.72% H | 1.73% | 1.72% | 1.73% | 1.76% | 1.77% | ||||||
Expenses net of all reductions | 1.72% H | 1.73% | 1.72% | 1.73% | 1.75% | 1.77% | ||||||
Net investment income (loss) | (1.05)% H | (1.17)% | (1.17)% | (1.15)% | (.82)% | (.88)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 296,454 | $ | 365,165 | $ | 501,742 | $ | 697,626 | $ | 654,487 | $ | 585,093 |
Portfolio turnover rate I | 40% H | 47% | 33% | 38% | 53% J | 45% |
Fidelity Advisor® Health Care Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 66.37 | $ | 63.83 | $ | 76.48 | $ | 66.81 | $ | 53.77 | $ | 54.43 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.01) | (.10) | (.11) | (.10) | .11 | .07 | ||||||
Net realized and unrealized gain (loss) | .72 | 2.64 | (8.39) | 13.76 | 13.22 | 1.49 | ||||||
Total from investment operations | .71 | 2.54 | (8.50) | 13.66 | 13.33 | 1.56 | ||||||
Distributions from net investment income | - | - | - | (.30) | - | - | ||||||
Distributions from net realized gain | - | - | (4.15) | (3.69) | (.29) | (2.22) | ||||||
Total distributions | - | - | (4.15) | (3.99) | (.29) | (2.22) | ||||||
Net asset value, end of period | $ | 67.08 | $ | 66.37 | $ | 63.83 | $ | 76.48 | $ | 66.81 | $ | 53.77 |
Total Return C,D | 1.07% | 3.98% | (11.68)% | 21.01% | 24.84% | 3.14% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .72% G | .72% | .71% | .72% | .74% | .76% | ||||||
Expenses net of fee waivers, if any | .71% G | .71% | .71% | .72% | .74% | .76% | ||||||
Expenses net of all reductions | .71% G | .71% | .71% | .72% | .74% | .76% | ||||||
Net investment income (loss) | (.04)% G | (.16)% | (.16)% | (.13)% | .19% | .13% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,169,048 | $ | 2,593,539 | $ | 2,743,740 | $ | 3,410,787 | $ | 2,546,323 | $ | 1,783,417 |
Portfolio turnover rate H | 40% G | 47% | 33% | 38% | 53% I | 45% |
Fidelity Advisor® Health Care Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 66.56 | $ | 63.93 | $ | 76.55 | $ | 66.88 | $ | 53.84 | $ | 57.87 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .03 | (.02) | (.03) | (.01) | .19 | .13 | ||||||
Net realized and unrealized gain (loss) | .72 | 2.65 | (8.38) | 13.77 | 13.22 | (1.94) | ||||||
Total from investment operations | .75 | 2.63 | (8.41) | 13.76 | 13.41 | (1.81) | ||||||
Distributions from net investment income | - | - | - | (.37) | - | - | ||||||
Distributions from net realized gain | - | - | (4.21) | (3.73) | (.37) | (2.22) | ||||||
Total distributions | - | - | (4.21) | (4.09) D | (.37) | (2.22) | ||||||
Net asset value, end of period | $ | 67.31 | $ | 66.56 | $ | 63.93 | $ | 76.55 | $ | 66.88 | $ | 53.84 |
Total Return E,F | 1.13% | 4.11% | (11.56)% | 21.15% | 24.98% | (2.86)% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .59% I | .59% | .59% | .60% | .61% | .62% I | ||||||
Expenses net of fee waivers, if any | .58% I | .59% | .59% | .60% | .61% | .62% I | ||||||
Expenses net of all reductions | .58% I | .59% | .59% | .59% | .61% | .62% I | ||||||
Net investment income (loss) | .09% I | (.03)% | (.04)% | (.01)% | .32% | .30% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 610,049 | $ | 862,051 | $ | 817,321 | $ | 952,460 | $ | 610,481 | $ | 238,873 |
Portfolio turnover rate J | 40% I | 47% | 33% | 38% | 53% K | 45% |
Top Holdings (% of Fund's net assets) | ||
Union Pacific Corp. | 6.3 | |
General Electric Co. | 6.3 | |
The Boeing Co. | 5.6 | |
Ingersoll Rand, Inc. | 4.9 | |
Parker Hannifin Corp. | 4.4 | |
FedEx Corp. | 4.1 | |
TransDigm Group, Inc. | 4.1 | |
ITT, Inc. | 3.6 | |
Howmet Aerospace, Inc. | 3.6 | |
Trane Technologies PLC | 3.6 | |
46.5 | ||
Industries (% of Fund's net assets) | ||
Machinery | 22.2 | |
Ground Transportation | 17.5 | |
Aerospace & Defense | 17.0 | |
Building Products | 9.1 | |
Electrical Equipment | 8.2 | |
Industrial Conglomerates | 6.3 | |
Construction & Engineering | 5.2 | |
Air Freight & Logistics | 4.1 | |
Professional Services | 3.5 | |
Commercial Services & Supplies | 2.7 | |
Construction Materials | 2.3 | |
Trading Companies & Distributors | 1.5 | |
Common Stocks - 99.6% | |||
Shares | Value ($) | ||
Aerospace & Defense - 17.0% | |||
Aerospace & Defense - 17.0% | |||
General Dynamics Corp. | 35,500 | 9,407,145 | |
Howmet Aerospace, Inc. | 311,258 | 17,511,375 | |
Lockheed Martin Corp. | 21,020 | 9,026,198 | |
The Boeing Co. (a) | 128,904 | 27,203,900 | |
TransDigm Group, Inc. | 18,214 | 19,902,074 | |
83,050,692 | |||
Air Freight & Logistics - 4.1% | |||
Air Freight & Logistics - 4.1% | |||
FedEx Corp. | 83,300 | 20,099,457 | |
Building Products - 9.1% | |||
Building Products - 9.1% | |||
Carlisle Companies, Inc. | 19,024 | 5,978,482 | |
Fortune Brands Innovations, Inc. | 43,800 | 3,398,442 | |
Johnson Controls International PLC | 120,557 | 6,352,148 | |
Simpson Manufacturing Co. Ltd. | 25,579 | 4,629,543 | |
The AZEK Co., Inc. (a) | 171,400 | 6,609,184 | |
Trane Technologies PLC | 69,400 | 17,492,270 | |
44,460,069 | |||
Commercial Services & Supplies - 2.7% | |||
Diversified Support Services - 0.4% | |||
Cintas Corp. | 3,200 | 1,934,624 | |
Environmental & Facilities Services - 2.3% | |||
Waste Connections, Inc. (United States) | 73,000 | 11,333,980 | |
TOTAL COMMERCIAL SERVICES & SUPPLIES | 13,268,604 | ||
Construction & Engineering - 5.2% | |||
Construction & Engineering - 5.2% | |||
AECOM | 75,558 | 6,663,460 | |
Quanta Services, Inc. | 47,400 | 9,197,970 | |
Willscot Mobile Mini Holdings (a) | 202,600 | 9,582,980 | |
25,444,410 | |||
Construction Materials - 2.3% | |||
Construction Materials - 2.3% | |||
Eagle Materials, Inc. | 50,200 | 11,359,256 | |
Electrical Equipment - 8.2% | |||
Electrical Components & Equipment - 8.2% | |||
AMETEK, Inc. | 52,934 | 8,577,955 | |
Eaton Corp. PLC | 66,516 | 16,368,257 | |
Regal Rexnord Corp. | 96,405 | 12,866,211 | |
Vertiv Holdings Co. | 35,600 | 2,005,348 | |
39,817,771 | |||
Ground Transportation - 17.5% | |||
Cargo Ground Transportation - 7.6% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 254,600 | 14,608,948 | |
Saia, Inc. (a) | 34,300 | 15,454,894 | |
XPO, Inc. (a) | 80,000 | 6,835,200 | |
36,899,042 | |||
Passenger Ground Transportation - 3.1% | |||
Uber Technologies, Inc. (a) | 230,800 | 15,064,316 | |
Rail Transportation - 6.8% | |||
CSX Corp. | 68,983 | 2,462,693 | |
Union Pacific Corp. | 125,700 | 30,662,000 | |
33,124,693 | |||
TOTAL GROUND TRANSPORTATION | 85,088,051 | ||
Industrial Conglomerates - 6.3% | |||
Industrial Conglomerates - 6.3% | |||
General Electric Co. | 231,537 | 30,660,130 | |
Machinery - 22.2% | |||
Construction Machinery & Heavy Transportation Equipment - 2.0% | |||
Caterpillar, Inc. | 31,800 | 9,549,858 | |
Industrial Machinery & Supplies & Components - 20.2% | |||
Chart Industries, Inc. (a) | 71,500 | 8,345,480 | |
Dover Corp. | 102,900 | 15,412,362 | |
Fortive Corp. | 148,975 | 11,646,866 | |
Ingersoll Rand, Inc. | 299,143 | 23,889,560 | |
ITT, Inc. | 145,909 | 17,622,889 | |
Parker Hannifin Corp. | 46,513 | 21,605,289 | |
98,522,446 | |||
TOTAL MACHINERY | 108,072,304 | ||
Professional Services - 3.5% | |||
Research & Consulting Services - 3.5% | |||
KBR, Inc. | 124,500 | 6,487,695 | |
Leidos Holdings, Inc. | 96,200 | 10,627,214 | |
17,114,909 | |||
Trading Companies & Distributors - 1.5% | |||
Trading Companies & Distributors - 1.5% | |||
W.W. Grainger, Inc. | 8,300 | 7,433,812 | |
TOTAL COMMON STOCKS (Cost $396,645,151) | 485,869,465 | ||
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $2,402,119) | 2,401,638 | 2,402,119 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $399,047,270) | 488,271,584 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (482,680) |
NET ASSETS - 100.0% | 487,788,904 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 2,126,016 | 44,517,599 | 44,241,496 | 48,087 | - | - | 2,402,119 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | - | 53,166,649 | 53,166,649 | 2,556 | - | - | - | 0.0% |
Total | 2,126,016 | 97,684,248 | 97,408,145 | 50,643 | - | - | 2,402,119 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 485,869,465 | 485,869,465 | - | - |
Money Market Funds | 2,402,119 | 2,402,119 | - | - |
Total Investments in Securities: | 488,271,584 | 488,271,584 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $396,645,151) | $ | 485,869,465 | ||
Fidelity Central Funds (cost $2,402,119) | 2,402,119 | |||
Total Investment in Securities (cost $399,047,270) | $ | 488,271,584 | ||
Receivable for investments sold | 491,686 | |||
Receivable for fund shares sold | 90,656 | |||
Dividends receivable | 88,460 | |||
Distributions receivable from Fidelity Central Funds | 7,885 | |||
Prepaid expenses | 1,638 | |||
Total assets | 488,951,909 | |||
Liabilities | ||||
Payable for investments purchased | $ | 485,799 | ||
Payable for fund shares redeemed | 254,696 | |||
Accrued management fee | 210,566 | |||
Transfer agent fee payable | 67,819 | |||
Distribution and service plan fees payable | 98,156 | |||
Other affiliated payables | 13,882 | |||
Other payables and accrued expenses | 32,087 | |||
Total Liabilities | 1,163,005 | |||
Net Assets | $ | 487,788,904 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 390,314,709 | ||
Total accumulated earnings (loss) | 97,474,195 | |||
Net Assets | $ | 487,788,904 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($233,964,454 ÷ 6,135,496 shares)(a) | $ | 38.13 | ||
Maximum offering price per share (100/94.25 of $38.13) | $ | 40.46 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($57,049,752 ÷ 1,560,217 shares)(a) | $ | 36.57 | ||
Maximum offering price per share (100/96.50 of $36.57) | $ | 37.90 | ||
Class C : | ||||
Net Asset Value and offering price per share ($31,709,776 ÷ 1,026,398 shares)(a) | $ | 30.89 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($128,724,553 ÷ 3,091,716 shares) | $ | 41.64 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($36,340,369 ÷ 873,190 shares) | $ | 41.62 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 2,240,347 | ||
Special dividends | 651,490 | |||
Income from Fidelity Central Funds (including $2,556 from security lending) | 50,643 | |||
Total Income | 2,942,480 | |||
Expenses | ||||
Management fee | $ | 1,257,541 | ||
Transfer agent fees | 401,303 | |||
Distribution and service plan fees | 560,586 | |||
Accounting fees | 83,913 | |||
Custodian fees and expenses | 9,539 | |||
Independent trustees' fees and expenses | 1,438 | |||
Registration fees | 56,924 | |||
Audit | 29,253 | |||
Legal | 1,012 | |||
Interest | 3,445 | |||
Miscellaneous | 1,473 | |||
Total expenses before reductions | 2,406,427 | |||
Expense reductions | (21,016) | |||
Total expenses after reductions | 2,385,411 | |||
Net Investment income (loss) | 557,069 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,309,287) | |||
Redemptions in-kind | 11,201,399 | |||
Total net realized gain (loss) | 9,892,112 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 12,195,857 | |||
Net gain (loss) | 22,087,969 | |||
Net increase (decrease) in net assets resulting from operations | $ | 22,645,038 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 557,069 | $ | (375,128) |
Net realized gain (loss) | 9,892,112 | 64,106,491 | ||
Change in net unrealized appreciation (depreciation) | 12,195,857 | 32,286,790 | ||
Net increase (decrease) in net assets resulting from operations | 22,645,038 | 96,018,153 | ||
Distributions to shareholders | (39,770,332) | (17,549,942) | ||
Share transactions - net increase (decrease) | (53,807,899) | 8,937,216 | ||
Total increase (decrease) in net assets | (70,933,193) | 87,405,427 | ||
Net Assets | ||||
Beginning of period | 558,722,097 | 471,316,670 | ||
End of period | $ | 487,788,904 | $ | 558,722,097 |
Fidelity Advisor® Industrials Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 39.24 | $ | 34.23 | $ | 45.64 | $ | 33.85 | $ | 38.95 | $ | 42.62 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .04 C | (.05) D | (.14) | (.17) | .18 E | .24 | ||||||
Net realized and unrealized gain (loss) | 2.19 | 6.24 | (2.62) | 12.20 | (2.46) | (.02) | ||||||
Total from investment operations | 2.23 | 6.19 | (2.76) | 12.03 | (2.28) | .22 | ||||||
Distributions from net investment income | - | (.02) | - | - | (.25) | (.19) | ||||||
Distributions from net realized gain | (3.34) | (1.16) | (8.65) | (.24) | (2.57) | (3.70) | ||||||
Total distributions | (3.34) | (1.18) | (8.65) | (.24) | (2.82) | (3.89) | ||||||
Net asset value, end of period | $ | 38.13 | $ | 39.24 | $ | 34.23 | $ | 45.64 | $ | 33.85 | $ | 38.95 |
Total Return F,G,H | 5.71% | 18.68% | (7.79)% | 35.63% | (6.58)% | 2.06% | ||||||
Ratios to Average Net Assets B,I,J | ||||||||||||
Expenses before reductions | 1.04% K | 1.03% | 1.02% | 1.03% | 1.05% | 1.04% | ||||||
Expenses net of fee waivers, if any | 1.03% K | 1.03% | 1.01% | 1.03% | 1.05% | 1.04% | ||||||
Expenses net of all reductions | 1.03% K | 1.03% | 1.01% | 1.01% | 1.03% | 1.03% | ||||||
Net investment income (loss) | .06% C,K | (.13)% D | (.35)% | (.40)% | .49% E | .63% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 233,964 | $ | 226,370 | $ | 214,576 | $ | 264,130 | $ | 199,835 | $ | 268,483 |
Portfolio turnover rate L | 33% K,M | 189% M | 106% | 205% | 219% M | 125% |
Fidelity Advisor® Industrials Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 37.77 | $ | 33.05 | $ | 44.31 | $ | 32.96 | $ | 37.99 | $ | 41.65 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.01) C | (.13) D | (.23) | (.27) | .08 E | .14 | ||||||
Net realized and unrealized gain (loss) | 2.11 | 6.01 | (2.53) | 11.86 | (2.39) | (.03) | ||||||
Total from investment operations | 2.10 | 5.88 | (2.76) | 11.59 | (2.31) | .11 | ||||||
Distributions from net investment income | - | - | - | - | (.15) | (.07) | ||||||
Distributions from net realized gain | (3.30) | (1.16) | (8.50) | (.24) | (2.57) | (3.70) | ||||||
Total distributions | (3.30) | (1.16) | (8.50) | (.24) | (2.72) | (3.77) | ||||||
Net asset value, end of period | $ | 36.57 | $ | 37.77 | $ | 33.05 | $ | 44.31 | $ | 32.96 | $ | 37.99 |
Total Return F,G,H | 5.60% | 18.39% | (8.03)% | 35.25% | (6.82)% | 1.78% | ||||||
Ratios to Average Net Assets B,I,J | ||||||||||||
Expenses before reductions | 1.29% K | 1.29% | 1.27% | 1.29% | 1.31% | 1.31% | ||||||
Expenses net of fee waivers, if any | 1.28% K | 1.28% | 1.27% | 1.29% | 1.31% | 1.30% | ||||||
Expenses net of all reductions | 1.28% K | 1.28% | 1.27% | 1.27% | 1.30% | 1.30% | ||||||
Net investment income (loss) | (.19)% C,K | (.38)% D | (.60)% | (.66)% | .23% E | .37% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 57,050 | $ | 54,175 | $ | 49,501 | $ | 56,680 | $ | 45,157 | $ | 61,570 |
Portfolio turnover rate L | 33% K,M | 189% M | 106% | 205% | 219% M | 125% |
Fidelity Advisor® Industrials Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 32.48 | $ | 28.72 | $ | 39.46 | $ | 29.52 | $ | 34.27 | $ | 38.09 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.09) C | (.26) D | (.37) | (.41) | (.08) E | (.04) | ||||||
Net realized and unrealized gain (loss) | 1.80 | 5.18 | (2.19) | 10.59 | (2.15) | (.08) | ||||||
Total from investment operations | 1.71 | 4.92 | (2.56) | 10.18 | (2.23) | (.12) | ||||||
Distributions from net investment income | - | - | - | - | (.03) | - | ||||||
Distributions from net realized gain | (3.30) | (1.16) | (8.18) | (.24) | (2.49) | (3.70) | ||||||
Total distributions | (3.30) | (1.16) | (8.18) | (.24) | (2.52) | (3.70) | ||||||
Net asset value, end of period | $ | 30.89 | $ | 32.48 | $ | 28.72 | $ | 39.46 | $ | 29.52 | $ | 34.27 |
Total Return F,G,H | 5.30% | 17.81% | (8.48)% | 34.58% | (7.27)% | 1.28% | ||||||
Ratios to Average Net Assets B,I,J | ||||||||||||
Expenses before reductions | 1.79% K | 1.79% | 1.77% | 1.79% | 1.81% | 1.80% | ||||||
Expenses net of fee waivers, if any | 1.78% K | 1.78% | 1.77% | 1.79% | 1.81% | 1.80% | ||||||
Expenses net of all reductions | 1.78% K | 1.78% | 1.77% | 1.77% | 1.79% | 1.79% | ||||||
Net investment income (loss) | (.70)% C,K | (.89)% D | (1.10)% | (1.16)% | (.26)% E | (.12)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 31,710 | $ | 33,293 | $ | 37,417 | $ | 55,576 | $ | 53,969 | $ | 90,512 |
Portfolio turnover rate L | 33% K,M | 189% M | 106% | 205% | 219% M | 125% |
Fidelity Advisor® Industrials Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 42.55 | $ | 36.95 | $ | 48.64 | $ | 35.97 | $ | 41.20 | $ | 44.85 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 C | .05 D | (.03) | (.06) | .29 E | .37 | ||||||
Net realized and unrealized gain (loss) | 2.39 | 6.77 | (2.84) | 12.97 | (2.60) | (.02) | ||||||
Total from investment operations | 2.48 | 6.82 | (2.87) | 12.91 | (2.31) | .35 | ||||||
Distributions from net investment income | - | (.06) | - | - | (.35) | (.30) | ||||||
Distributions from net realized gain | (3.39) | (1.16) | (8.82) | (.24) | (2.57) | (3.70) | ||||||
Total distributions | (3.39) | (1.22) | (8.82) | (.24) | (2.92) | (4.00) | ||||||
Net asset value, end of period | $ | 41.64 | $ | 42.55 | $ | 36.95 | $ | 48.64 | $ | 35.97 | $ | 41.20 |
Total Return F,G | 5.86% | 19.02% | (7.55)% | 35.98% | (6.32)% | 2.31% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .77% J | .76% | .75% | .76% | .78% | .78% | ||||||
Expenses net of fee waivers, if any | .76% J | .76% | .75% | .76% | .78% | .77% | ||||||
Expenses net of all reductions | .76% J | .76% | .75% | .74% | .76% | .77% | ||||||
Net investment income (loss) | .32% C,J | .14% D | (.08)% | (.14)% | .76% E | .90% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 128,725 | $ | 140,764 | $ | 145,849 | $ | 248,090 | $ | 123,603 | $ | 219,218 |
Portfolio turnover rate K | 33% J,L | 189% L | 106% | 205% | 219% L | 125% |
Fidelity Advisor® Industrials Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 42.52 | $ | 36.91 | $ | 48.61 | $ | 35.90 | $ | 41.15 | $ | 46.84 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .12 D | .10 E | .02 | - F | .34 G | .34 | ||||||
Net realized and unrealized gain (loss) | 2.38 | 6.75 | (2.83) | 12.95 | (2.60) | (1.94) | ||||||
Total from investment operations | 2.50 | 6.85 | (2.81) | 12.95 | (2.26) | (1.60) | ||||||
Distributions from net investment income | - | (.08) | - | - | (.42) | (.39) | ||||||
Distributions from net realized gain | (3.40) | (1.16) | (8.89) | (.24) | (2.57) | (3.70) | ||||||
Total distributions | (3.40) | (1.24) | (8.89) | (.24) | (2.99) | (4.09) | ||||||
Net asset value, end of period | $ | 41.62 | $ | 42.52 | $ | 36.91 | $ | 48.61 | $ | 35.90 | $ | 41.15 |
Total Return H,I | 5.92% | 19.14% | (7.42)% | 36.16% | (6.21)% | (1.92)% | ||||||
Ratios to Average Net Assets C,J,K | ||||||||||||
Expenses before reductions | .64% L | .64% | .63% | .64% | .65% | .64% L | ||||||
Expenses net of fee waivers, if any | .63% L | .63% | .62% | .64% | .65% | .64% L | ||||||
Expenses net of all reductions | .63% L | .63% | .62% | .62% | .63% | .64% L | ||||||
Net investment income (loss) | .45% D,L | .26% E | .04% | (.01)% | .89% G | 1.04% L | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 36,340 | $ | 104,120 | $ | 23,974 | $ | 50,167 | $ | 29,168 | $ | 11,077 |
Portfolio turnover rate M | 33% L,N | 189% N | 106% | 205% | 219% N | 125% |
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 24.8 | |
NXP Semiconductors NV | 7.1 | |
ON Semiconductor Corp. | 6.8 | |
Marvell Technology, Inc. | 5.6 | |
ASML Holding NV (depository receipt) | 5.1 | |
Micron Technology, Inc. | 5.0 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 4.9 | |
Broadcom, Inc. | 4.9 | |
Lam Research Corp. | 4.8 | |
GlobalFoundries, Inc. | 4.6 | |
73.6 | ||
Industries (% of Fund's net assets) | ||
Semiconductors & Semiconductor Equipment | 97.5 | |
Technology Hardware, Storage & Peripherals | 0.1 | |
Electronic Equipment, Instruments & Components | 0.0 | |
Financial Services | 0.0 | |
Metals & Mining | 0.0 | |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 97.3% | |||
Shares | Value ($) | ||
Electronic Equipment, Instruments & Components - 0.0% | |||
Electronic Equipment & Instruments - 0.0% | |||
Aeva Technologies, Inc. (a) | 118,100 | 100,621 | |
Semiconductors & Semiconductor Equipment - 97.3% | |||
Semiconductor Materials & Equipment - 15.2% | |||
Applied Materials, Inc. | 56,900 | 9,348,670 | |
ASML Holding NV (depository receipt) | 100,000 | 86,982,000 | |
Lam Research Corp. | 100,746 | 83,132,577 | |
Nova Ltd. (a)(b) | 193,532 | 28,025,369 | |
Teradyne, Inc. | 558,200 | 53,916,538 | |
261,405,154 | |||
Semiconductors - 82.1% | |||
Advanced Micro Devices, Inc. (a) | 321,774 | 53,958,282 | |
Allegro MicroSystems LLC (a)(b) | 589,900 | 15,302,006 | |
Broadcom, Inc. | 70,825 | 83,573,500 | |
Cirrus Logic, Inc. (a) | 72,428 | 5,591,442 | |
GaN Systems, Inc. (c) | 226,949 | 22,848 | |
GaN Systems, Inc. (c) | 226,949 | 2 | |
GlobalFoundries, Inc. (a) | 1,420,265 | 78,086,170 | |
Impinj, Inc. (a) | 220,059 | 21,341,322 | |
Lattice Semiconductor Corp. (a) | 366,129 | 22,282,611 | |
MACOM Technology Solutions Holdings, Inc. (a) | 276,762 | 23,865,187 | |
Marvell Technology, Inc. | 1,429,151 | 96,753,523 | |
Microchip Technology, Inc. | 632,377 | 53,865,873 | |
Micron Technology, Inc. | 1,004,000 | 86,093,000 | |
Monolithic Power Systems, Inc. | 71,373 | 43,017,935 | |
NVIDIA Corp. | 692,027 | 425,783,451 | |
NXP Semiconductors NV | 582,253 | 122,605,014 | |
ON Semiconductor Corp. (a) | 1,647,176 | 117,163,629 | |
Qorvo, Inc. (a) | 261,900 | 26,121,906 | |
Qualcomm, Inc. | 118,000 | 17,524,180 | |
Silicon Motion Tech Corp. sponsored ADR | 155,929 | 9,820,408 | |
Synaptics, Inc. (a) | 210,211 | 22,452,637 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 746,500 | 84,324,640 | |
Wolfspeed, Inc. (a)(b) | 54,700 | 1,780,485 | |
1,411,330,051 | |||
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 1,672,735,205 | ||
TOTAL COMMON STOCKS (Cost $986,049,465) | 1,672,835,826 | ||
Convertible Preferred Stocks - 0.3% | |||
Shares | Value ($) | ||
Electronic Equipment, Instruments & Components - 0.0% | |||
Electronic Components - 0.0% | |||
Menlo Micro, Inc. Series C (a)(c)(d) | 79,800 | 55,860 | |
Financial Services - 0.0% | |||
Diversified Financial Services - 0.0% | |||
Akeana Series C (c)(d) | 11,132 | 142,053 | |
Tenstorrent Holdings, Inc. Series C1 (c)(d) | 1,740 | 101,581 | |
243,634 | |||
Metals & Mining - 0.0% | |||
Precious Metals & Minerals - 0.0% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 18,335 | 459,108 | |
Semiconductors & Semiconductor Equipment - 0.2% | |||
Semiconductor Materials & Equipment - 0.1% | |||
Astera Labs, Inc.: | |||
Series A (a)(c)(d) | 30,452 | 324,923 | |
Series B (a)(c)(d) | 5,185 | 55,324 | |
Series C (a)(c)(d) | 19,433 | 207,350 | |
Series D (a)(c)(d) | 123,852 | 1,321,501 | |
1,909,098 | |||
Semiconductors - 0.1% | |||
Alif Semiconductor Series C (a)(c)(d) | 48,363 | 924,701 | |
Retym, Inc. Series C (c)(d) | 55,074 | 462,071 | |
SiMa.ai: | |||
Series B (a)(c)(d) | 30,638 | 209,564 | |
Series B1 (a)(c)(d) | 18,145 | 141,894 | |
1,738,230 | |||
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 3,647,328 | ||
Technology Hardware, Storage & Peripherals - 0.1% | |||
Technology Hardware, Storage & Peripherals - 0.1% | |||
Lightmatter, Inc.: | |||
Series C (c)(d) | 32,553 | 711,609 | |
Series C2 (c)(d) | 5,113 | 132,887 | |
844,496 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $4,843,326) | 5,250,426 | ||
Preferred Securities - 0.0% | |||
Principal Amount (e) | Value ($) | ||
Financial Services - 0.0% | |||
Diversified Financial Services - 0.0% | |||
Tenstorrent Holdings, Inc. 5% 11/6/25 (c)(d) (Cost $66,031) | 66,031 | 70,871 | |
Money Market Funds - 4.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (f) | 50,827,802 | 50,837,968 | |
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g) | 28,784,297 | 28,787,175 | |
TOTAL MONEY MARKET FUNDS (Cost $79,625,143) | 79,625,143 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% (Cost $1,070,583,965) | 1,757,782,266 |
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (38,735,738) |
NET ASSETS - 100.0% | 1,719,046,528 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,321,297 or 0.3% of net assets. |
(e) | Amount is stated in United States dollars unless otherwise noted. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Akeana Series C | 1/23/24 | 142,053 |
Alif Semiconductor Series C | 3/08/22 | 981,698 |
Astera Labs, Inc. Series A | 5/17/22 | 309,682 |
Astera Labs, Inc. Series B | 5/17/22 | 52,729 |
Astera Labs, Inc. Series C | 8/24/21 | 65,330 |
Astera Labs, Inc. Series D | 5/17/22 - 5/27/22 | 1,259,513 |
Diamond Foundry, Inc. Series C | 3/15/21 | 440,040 |
Lightmatter, Inc. Series C | 5/19/23 | 535,718 |
Lightmatter, Inc. Series C2 | 12/18/23 | 132,947 |
Menlo Micro, Inc. Series C | 2/09/22 | 105,775 |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 428,575 |
SiMa.ai Series B | 5/10/21 | 157,093 |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 128,665 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 103,509 |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 66,031 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 62,347,605 | 221,254,735 | 232,764,372 | 1,243,547 | - | - | 50,837,968 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 39,629,775 | 118,446,799 | 129,289,399 | 100,835 | - | - | 28,787,175 | 0.1% |
Total | 101,977,380 | 339,701,534 | 362,053,771 | 1,344,382 | - | - | 79,625,143 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 1,672,835,826 | 1,672,812,976 | - | 22,850 |
Convertible Preferred Stocks | 5,250,426 | - | - | 5,250,426 |
Preferred Securities | 70,871 | - | - | 70,871 |
Money Market Funds | 79,625,143 | 79,625,143 | - | - |
Total Investments in Securities: | 1,757,782,266 | 1,752,438,119 | - | 5,344,147 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $27,825,647) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $990,958,822) | $ | 1,678,157,123 | ||
Fidelity Central Funds (cost $79,625,143) | 79,625,143 | |||
Total Investment in Securities (cost $1,070,583,965) | $ | 1,757,782,266 | ||
Receivable for investments sold | 60,280,008 | |||
Receivable for fund shares sold | 4,066,257 | |||
Distributions receivable from Fidelity Central Funds | 229,899 | |||
Prepaid expenses | 1,470 | |||
Total assets | 1,822,359,900 | |||
Liabilities | ||||
Payable for investments purchased | $ | 71,407,451 | ||
Payable for fund shares redeemed | 1,822,628 | |||
Accrued management fee | 712,053 | |||
Distribution and service plan fees payable | 298,035 | |||
Other affiliated payables | 253,238 | |||
Other payables and accrued expenses | 32,792 | |||
Collateral on securities loaned | 28,787,175 | |||
Total Liabilities | 103,313,372 | |||
Net Assets | $ | 1,719,046,528 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,029,599,582 | ||
Total accumulated earnings (loss) | 689,446,946 | |||
Net Assets | $ | 1,719,046,528 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($688,481,127 ÷ 10,760,941 shares)(a) | $ | 63.98 | ||
Maximum offering price per share (100/94.25 of $63.98) | $ | 67.88 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($110,063,122 ÷ 1,841,727 shares)(a) | $ | 59.76 | ||
Maximum offering price per share (100/96.50 of $59.76) | $ | 61.93 | ||
Class C : | ||||
Net Asset Value and offering price per share ($146,824,065 ÷ 2,864,122 shares)(a) | $ | 51.26 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($649,339,125 ÷ 9,388,723 shares) | $ | 69.16 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($124,339,089 ÷ 1,794,504 shares) | $ | 69.29 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 4,200,563 | ||
Income from Fidelity Central Funds (including $100,835 from security lending) | 1,344,382 | |||
Total Income | 5,544,945 | |||
Expenses | ||||
Management fee | $ | 3,727,766 | ||
Transfer agent fees | 1,150,641 | |||
Distribution and service plan fees | 1,570,307 | |||
Accounting fees | 201,003 | |||
Custodian fees and expenses | 10,712 | |||
Independent trustees' fees and expenses | 3,908 | |||
Registration fees | 114,588 | |||
Audit | 25,066 | |||
Legal | 1,225 | |||
Miscellaneous | 2,650 | |||
Total expenses before reductions | 6,807,866 | |||
Expense reductions | (61,534) | |||
Total expenses after reductions | 6,746,332 | |||
Net Investment income (loss) | (1,201,387) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 9,852,951 | |||
Total net realized gain (loss) | 9,852,951 | |||
Change in net unrealized appreciation (depreciation) on investment securities | 104,902,573 | |||
Net gain (loss) | 114,755,524 | |||
Net increase (decrease) in net assets resulting from operations | $ | 113,554,137 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (1,201,387) | $ | (649,806) |
Net realized gain (loss) | 9,852,951 | 49,397,259 | ||
Change in net unrealized appreciation (depreciation) | 104,902,573 | 374,257,020 | ||
Net increase (decrease) in net assets resulting from operations | 113,554,137 | 423,004,473 | ||
Distributions to shareholders | (51,831,814) | (22,158,679) | ||
Share transactions - net increase (decrease) | 225,587,106 | 216,742,474 | ||
Total increase (decrease) in net assets | 287,309,429 | 617,588,268 | ||
Net Assets | ||||
Beginning of period | 1,431,737,099 | 814,148,831 | ||
End of period | $ | 1,719,046,528 | $ | 1,431,737,099 |
Fidelity Advisor® Semiconductors Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 62.13 | $ | 42.85 | $ | 46.29 | $ | 29.79 | $ | 23.03 | $ | 25.06 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.06) | (.05) | (.13) | (.08) | .14 | .15 | ||||||
Net realized and unrealized gain (loss) | 3.98 | 20.53 | (.83) | 18.29 | 6.90 | 1.25 | ||||||
Total from investment operations | 3.92 | 20.48 | (.96) | 18.21 | 7.04 | 1.40 | ||||||
Distributions from net investment income | - | - | - | (.04) | (.07) | (.10) | ||||||
Distributions from net realized gain | (2.07) | (1.20) | (2.48) | (1.67) | (.20) | (3.33) | ||||||
Total distributions | (2.07) | (1.20) | (2.48) | (1.71) | (.28) C | (3.43) | ||||||
Net asset value, end of period | $ | 63.98 | $ | 62.13 | $ | 42.85 | $ | 46.29 | $ | 29.79 | $ | 23.03 |
Total Return D,E,F | 6.51% | 49.31% | (3.21)% | 62.45% | 30.65% | 10.18% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.00% I | 1.01% | 1.01% | 1.04% | 1.10% | 1.12% | ||||||
Expenses net of fee waivers, if any | .99% I | 1.00% | 1.01% | 1.04% | 1.09% | 1.11% | ||||||
Expenses net of all reductions | .99% I | 1.00% | 1.01% | 1.03% | 1.08% | 1.11% | ||||||
Net investment income (loss) | (.21)% I | (.10)% | (.27)% | (.21)% | .53% | .70% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 688,481 | $ | 581,690 | $ | 319,402 | $ | 279,755 | $ | 140,072 | $ | 98,459 |
Portfolio turnover rate J | 27% I | 40% | 32% | 41% | 136% | 110% |
Fidelity Advisor® Semiconductors Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 58.24 | $ | 40.34 | $ | 43.75 | $ | 28.25 | $ | 21.89 | $ | 24.04 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.12) | (.15) | (.23) | (.17) | .06 | .08 | ||||||
Net realized and unrealized gain (loss) | 3.71 | 19.25 | (.76) | 17.31 | 6.55 | 1.16 | ||||||
Total from investment operations | 3.59 | 19.10 | (.99) | 17.14 | 6.61 | 1.24 | ||||||
Distributions from net investment income | - | - | - | - | (.05) | (.06) | ||||||
Distributions from net realized gain | (2.07) | (1.20) | (2.42) | (1.64) | (.20) | (3.33) | ||||||
Total distributions | (2.07) | (1.20) | (2.42) | (1.64) | (.25) | (3.39) | ||||||
Net asset value, end of period | $ | 59.76 | $ | 58.24 | $ | 40.34 | $ | 43.75 | $ | 28.25 | $ | 21.89 |
Total Return C,D,E | 6.37% | 48.95% | (3.43)% | 61.98% | 30.28% | 9.84% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.23% H | 1.25% | 1.26% | 1.30% | 1.38% | 1.44% | ||||||
Expenses net of fee waivers, if any | 1.22% H | 1.25% | 1.25% | 1.30% | 1.38% | 1.43% | ||||||
Expenses net of all reductions | 1.22% H | 1.25% | 1.25% | 1.29% | 1.37% | 1.43% | ||||||
Net investment income (loss) | (.45)% H | (.35)% | (.52)% | (.47)% | .24% | .38% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 110,063 | $ | 94,006 | $ | 48,499 | $ | 49,963 | $ | 29,262 | $ | 22,587 |
Portfolio turnover rate I | 27% H | 40% | 32% | 41% | 136% | 110% |
Fidelity Advisor® Semiconductors Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 50.38 | $ | 35.24 | $ | 38.59 | $ | 25.18 | $ | 19.59 | $ | 21.88 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.23) | (.31) | (.40) | (.31) | (.05) | (.01) | ||||||
Net realized and unrealized gain (loss) | 3.18 | 16.65 | (.61) | 15.35 | 5.86 | .98 | ||||||
Total from investment operations | 2.95 | 16.34 | (1.01) | 15.04 | 5.81 | .97 | ||||||
Distributions from net investment income | - | - | - | - | (.01) | - | ||||||
Distributions from net realized gain | (2.07) | (1.20) | (2.34) | (1.63) | (.20) | (3.26) | ||||||
Total distributions | (2.07) | (1.20) | (2.34) | (1.63) | (.22) C | (3.26) | ||||||
Net asset value, end of period | $ | 51.26 | $ | 50.38 | $ | 35.24 | $ | 38.59 | $ | 25.18 | $ | 19.59 |
Total Return D,E,F | 6.09% | 48.18% | (3.93)% | 61.17% | 29.73% | 9.33% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.75% I | 1.76% | 1.76% | 1.79% | 1.85% | 1.87% | ||||||
Expenses net of fee waivers, if any | 1.74% I | 1.76% | 1.76% | 1.79% | 1.85% | 1.87% | ||||||
Expenses net of all reductions | 1.74% I | 1.76% | 1.76% | 1.79% | 1.83% | 1.87% | ||||||
Net investment income (loss) | (.97)% I | (.86)% | (1.03)% | (.97)% | (.23)% | (.06)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 146,824 | $ | 129,390 | $ | 88,592 | $ | 86,217 | $ | 57,320 | $ | 45,659 |
Portfolio turnover rate J | 27% I | 40% | 32% | 41% | 136% | 110% |
Fidelity Advisor® Semiconductors Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 66.91 | $ | 45.93 | $ | 49.39 | $ | 31.68 | $ | 24.42 | $ | 26.33 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | .08 | (.01) | .03 | .22 | .23 | ||||||
Net realized and unrealized gain (loss) | 4.31 | 22.10 | (.92) | 19.47 | 7.34 | 1.35 | ||||||
Total from investment operations | 4.32 | 22.18 | (.93) | 19.50 | 7.56 | 1.58 | ||||||
Distributions from net investment income | - | - | - | (.12) | (.10) | (.16) | ||||||
Distributions from net realized gain | (2.07) | (1.20) | (2.53) | (1.67) | (.20) | (3.33) | ||||||
Total distributions | (2.07) | (1.20) | (2.53) | (1.79) | (.30) | (3.49) | ||||||
Net asset value, end of period | $ | 69.16 | $ | 66.91 | $ | 45.93 | $ | 49.39 | $ | 31.68 | $ | 24.42 |
Total Return C,D | 6.64% | 49.71% | (2.96)% | 62.86% | 31.08% | 10.46% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .74% G | .74% | .75% | .77% | .81% | .83% | ||||||
Expenses net of fee waivers, if any | .73% G | .74% | .74% | .77% | .81% | .82% | ||||||
Expenses net of all reductions | .73% G | .74% | .74% | .76% | .79% | .82% | ||||||
Net investment income (loss) | .04% G | .16% | (.01)% | .06% | .81% | .98% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 649,339 | $ | 530,775 | $ | 309,873 | $ | 257,502 | $ | 126,660 | $ | 98,451 |
Portfolio turnover rate H | 27% G | 40% | 32% | 41% | 136% | 110% |
Fidelity Advisor® Semiconductors Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 66.99 | $ | 45.93 | $ | 49.35 | $ | 31.65 | $ | 24.38 | $ | 26.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .05 | .14 | .06 | .08 | .26 | .17 | ||||||
Net realized and unrealized gain (loss) | 4.32 | 22.12 | (.92) | 19.45 | 7.33 | 1.76 | ||||||
Total from investment operations | 4.37 | 22.26 | (.86) | 19.53 | 7.59 | 1.93 | ||||||
Distributions from net investment income | - | - | - | (.16) | (.11) | (.22) | ||||||
Distributions from net realized gain | (2.07) | (1.20) | (2.56) | (1.67) | (.20) | (3.33) | ||||||
Total distributions | (2.07) | (1.20) | (2.56) | (1.83) | (.32) D | (3.55) | ||||||
Net asset value, end of period | $ | 69.29 | $ | 66.99 | $ | 45.93 | $ | 49.35 | $ | 31.65 | $ | 24.38 |
Total Return E,F | 6.71% | 49.89% | (2.83)% | 63.06% | 31.22% | 12.03% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .62% I | .62% | .62% | .64% | .68% | .69% I | ||||||
Expenses net of fee waivers, if any | .61% I | .62% | .62% | .64% | .68% | .69% I | ||||||
Expenses net of all reductions | .61% I | .62% | .62% | .64% | .66% | .68% I | ||||||
Net investment income (loss) | .17% I | .28% | .11% | .18% | .94% | .91% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 124,339 | $ | 95,876 | $ | 47,782 | $ | 26,856 | $ | 7,920 | $ | 2,629 |
Portfolio turnover rate J | 27% I | 40% | 32% | 41% | 136% | 110% |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 19.5 | |
NVIDIA Corp. | 14.4 | |
Apple, Inc. | 14.3 | |
Marvell Technology, Inc. | 4.8 | |
Salesforce, Inc. | 4.3 | |
NXP Semiconductors NV | 4.3 | |
ServiceNow, Inc. | 4.3 | |
ON Semiconductor Corp. | 3.7 | |
Cisco Systems, Inc. | 3.7 | |
Okta, Inc. | 2.9 | |
76.2 | ||
Industries (% of Fund's net assets) | ||
Semiconductors & Semiconductor Equipment | 34.3 | |
Software | 32.6 | |
Technology Hardware, Storage & Peripherals | 14.8 | |
IT Services | 5.0 | |
Communications Equipment | 3.7 | |
Ground Transportation | 2.6 | |
Interactive Media & Services | 1.2 | |
Hotels, Restaurants & Leisure | 1.1 | |
Entertainment | 0.9 | |
Electronic Equipment, Instruments & Components | 0.6 | |
Aerospace & Defense | 0.2 | |
Broadline Retail | 0.1 | |
Chemicals | 0.1 | |
Financial Services | 0.1 | |
Metals & Mining | 0.1 | |
Consumer Staples Distribution & Retail | 0.0 | |
Life Sciences Tools & Services | 0.0 | |
Pharmaceuticals | 0.0 | |
Common Stocks - 95.8% | |||
Shares | Value ($) | ||
Chemicals - 0.1% | |||
Commodity Chemicals - 0.1% | |||
LG Chemical Ltd. | 9,410 | 3,051,557 | |
Communications Equipment - 3.7% | |||
Communications Equipment - 3.7% | |||
Cisco Systems, Inc. | 3,937,800 | 197,598,804 | |
Consumer Staples Distribution & Retail - 0.0% | |||
Food Retail - 0.0% | |||
Maplebear, Inc. (unlisted) (i) | 29,110 | 676,706 | |
Electronic Equipment, Instruments & Components - 0.4% | |||
Electronic Equipment & Instruments - 0.4% | |||
Keysight Technologies, Inc. (a) | 126,300 | 19,356,738 | |
Entertainment - 0.9% | |||
Movies & Entertainment - 0.9% | |||
Netflix, Inc. (a) | 89,766 | 50,637,898 | |
Ground Transportation - 2.6% | |||
Cargo Ground Transportation - 0.0% | |||
TuSimple Holdings, Inc. (a)(b) | 86,300 | 19,884 | |
Passenger Ground Transportation - 2.6% | |||
Lyft, Inc. (a) | 713,642 | 8,913,389 | |
Uber Technologies, Inc. (a) | 1,958,764 | 127,848,526 | |
136,761,915 | |||
TOTAL GROUND TRANSPORTATION | 136,781,799 | ||
Hotels, Restaurants & Leisure - 1.1% | |||
Hotels, Resorts & Cruise Lines - 1.1% | |||
Airbnb, Inc. Class A (a) | 405,500 | 58,448,770 | |
Interactive Media & Services - 0.9% | |||
Interactive Media & Services - 0.9% | |||
Snap, Inc. Class A (a) | 3,041,667 | 48,332,089 | |
IT Services - 5.0% | |||
Internet Services & Infrastructure - 5.0% | |||
MongoDB, Inc. Class A (a) | 119,242 | 47,758,806 | |
Okta, Inc. (a) | 1,865,758 | 154,204,899 | |
Shopify, Inc. Class A (a) | 777,400 | 62,246,418 | |
264,210,123 | |||
Life Sciences Tools & Services - 0.0% | |||
Life Sciences Tools & Services - 0.0% | |||
Eden Biologics, Inc. (a)(c) | 387,462 | 0 | |
Pharmaceuticals - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Chime Biologics Wuhan Co. Ltd. (a)(c) | 387,462 | 201,802 | |
Semiconductors & Semiconductor Equipment - 34.0% | |||
Semiconductor Materials & Equipment - 2.0% | |||
ASML Holding NV (Netherlands) | 53,700 | 46,589,483 | |
Teradyne, Inc. | 637,400 | 61,566,466 | |
108,155,949 | |||
Semiconductors - 32.0% | |||
GlobalFoundries, Inc. (a) | 2,529,506 | 139,072,240 | |
Marvell Technology, Inc. | 3,738,260 | 253,080,202 | |
Microchip Technology, Inc. | 291,600 | 24,838,488 | |
NVIDIA Corp. | 1,246,000 | 766,626,420 | |
NXP Semiconductors NV | 1,081,245 | 227,677,760 | |
ON Semiconductor Corp. (a) | 2,803,200 | 199,391,616 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 4,502,000 | 90,142,007 | |
Xsight Labs Ltd. warrants 1/11/34 (a)(c)(d) | 27,709 | 50,153 | |
1,700,878,886 | |||
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 1,809,034,835 | ||
Software - 32.3% | |||
Application Software - 8.5% | |||
Bill Holdings, Inc. (a) | 423,300 | 33,038,565 | |
Convoy, Inc. warrants (a)(c)(d) | 5,358 | 0 | |
CoreWeave, Inc. (c)(d) | 23,100 | 7,157,766 | |
Datadog, Inc. Class A (a) | 401,488 | 49,961,167 | |
Dynatrace, Inc. (a) | 704,300 | 40,145,100 | |
HashiCorp, Inc. (a) | 997,579 | 21,807,077 | |
HubSpot, Inc. (a) | 44,003 | 26,885,833 | |
Intuit, Inc. | 18,100 | 11,427,073 | |
Manhattan Associates, Inc. (a) | 136,877 | 33,200,885 | |
Pine Labs Private Ltd. (a)(c)(d) | 3,660 | 1,281,549 | |
Salesforce, Inc. (a) | 816,239 | 229,436,621 | |
454,341,636 | |||
Systems Software - 23.8% | |||
Microsoft Corp. | 2,607,500 | 1,036,689,848 | |
ServiceNow, Inc. (a) | 297,169 | 227,453,153 | |
1,264,143,001 | |||
TOTAL SOFTWARE | 1,718,484,637 | ||
Technology Hardware, Storage & Peripherals - 14.8% | |||
Technology Hardware, Storage & Peripherals - 14.8% | |||
Apple, Inc. | 4,125,216 | 760,689,830 | |
Seagate Technology Holdings PLC | 303,655 | 26,017,160 | |
786,706,990 | |||
TOTAL COMMON STOCKS (Cost $2,496,306,573) | 5,093,522,748 | ||
Preferred Stocks - 1.5% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.4% | |||
Aerospace & Defense - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Relativity Space, Inc. Series E (a)(c)(d) | 482,616 | 10,323,156 | |
Broadline Retail - 0.1% | |||
Broadline Retail - 0.1% | |||
Meesho Series F (a)(c)(d) | 46,600 | 2,374,736 | |
Consumer Staples Distribution & Retail - 0.0% | |||
Food Retail - 0.0% | |||
GoBrands, Inc. Series G (a)(c)(d) | 14,100 | 646,908 | |
Electronic Equipment, Instruments & Components - 0.2% | |||
Electronic Equipment & Instruments - 0.1% | |||
Enevate Corp. Series E (a)(c)(d) | 9,477,386 | 7,961,004 | |
Technology Distributors - 0.1% | |||
VAST Data Ltd.: | |||
Series A(c)(d) | 30,141 | 426,495 | |
Series A1(c)(d) | 74,185 | 1,049,718 | |
Series A2(c)(d) | 85,337 | 1,207,519 | |
Series B(c)(d) | 67,904 | 960,842 | |
Series C(c)(d) | 1,979 | 28,003 | |
Series E(c)(d) | 64,886 | 918,137 | |
4,590,714 | |||
TOTAL ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | 12,551,718 | ||
Financial Services - 0.0% | |||
Diversified Financial Services - 0.0% | |||
Akeana Series C (c)(d) | 35,600 | 454,284 | |
Tenstorrent Holdings, Inc. Series C1 (c)(d) | 12,823 | 748,607 | |
1,202,891 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Casinos & Gaming - 0.0% | |||
Discord, Inc. Series I (a)(c)(d) | 500 | 138,240 | |
Interactive Media & Services - 0.3% | |||
Interactive Media & Services - 0.3% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 26,036 | 5,757,341 | |
Reddit, Inc.: | |||
Series D(a)(c)(d) | 94,300 | 3,052,491 | |
Series E(a)(c)(d) | 5,300 | 171,561 | |
Series F(a)(c)(d) | 154,614 | 5,004,855 | |
13,986,248 | |||
Metals & Mining - 0.1% | |||
Precious Metals & Minerals - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 151,757 | 3,799,995 | |
Semiconductors & Semiconductor Equipment - 0.3% | |||
Semiconductor Materials & Equipment - 0.2% | |||
Astera Labs, Inc.: | |||
Series A(a)(c)(d) | 144,502 | 1,541,836 | |
Series B(a)(c)(d) | 24,603 | 262,514 | |
Series C(a)(c)(d) | 135,400 | 1,444,718 | |
Series D(a)(c)(d) | 590,802 | 6,303,857 | |
9,552,925 | |||
Semiconductors - 0.1% | |||
Retym, Inc. Series C (c)(d) | 139,441 | 1,169,910 | |
SiMa.ai: | |||
Series B(a)(c)(d) | 231,000 | 1,580,040 | |
Series B1(a)(c)(d) | 100,683 | 787,341 | |
Xsight Labs Ltd.: | |||
Series D(a)(c)(d) | 101,300 | 520,682 | |
Series D1(c)(d) | 92,364 | 688,112 | |
4,746,085 | |||
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 14,299,010 | ||
Software - 0.2% | |||
Application Software - 0.2% | |||
Convoy, Inc. Series D (a)(c)(d) | 81,762 | 1 | |
Databricks, Inc.: | |||
Series G(a)(c)(d) | 37,800 | 2,907,576 | |
Series H(a)(c)(d) | 99,786 | 7,675,539 | |
Series I(c)(d) | 1,265 | 97,304 | |
10,680,420 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc.: | |||
Series C(c)(d) | 82,421 | 1,801,723 | |
Series C2(c)(d) | 12,946 | 336,467 | |
2,138,190 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 72,141,512 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
Software - 0.1% | |||
Application Software - 0.1% | |||
Pine Labs Private Ltd.: | |||
Series 1(a)(c)(d) | 8,747 | 3,062,762 | |
Series A(a)(c)(d) | 2,186 | 765,428 | |
Series B(a)(c)(d) | 2,378 | 832,657 | |
Series B2(a)(c)(d) | 1,923 | 673,338 | |
Series C(a)(c)(d) | 3,578 | 1,252,837 | |
Series C1(a)(c)(d) | 754 | 264,013 | |
Series D(a)(c)(d) | 806 | 282,221 | |
7,133,256 | |||
TOTAL PREFERRED STOCKS (Cost $85,487,438) | 79,274,768 | ||
Corporate Bonds - 0.1% | |||
Principal Amount (e) | Value ($) | ||
Convertible Bonds - 0.0% | |||
Software - 0.0% | |||
Application Software - 0.0% | |||
Convoy, Inc. 15% 9/30/26 (c)(d) | 35,680 | 0 | |
Nonconvertible Bonds - 0.1% | |||
Financial Services - 0.1% | |||
Diversified Financial Services - 0.1% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (c)(d) | 2,982,393 | 2,986,270 | |
TOTAL CORPORATE BONDS (Cost $3,018,073) | 2,986,270 | ||
Preferred Securities - 0.0% | |||
Principal Amount (e) | Value ($) | ||
Electronic Equipment, Instruments & Components - 0.0% | |||
Electronic Equipment & Instruments - 0.0% | |||
Enevate Corp. 6% (c)(d)(f) | 492,835 | 515,275 | |
Financial Services - 0.0% | |||
Diversified Financial Services - 0.0% | |||
Tenstorrent Holdings, Inc. 5% 11/6/25 (c)(d) | 294,497 | 316,085 | |
TOTAL PREFERRED SECURITIES (Cost $787,332) | 831,360 | ||
Money Market Funds - 2.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (g) | 141,257,956 | 141,286,208 | |
Fidelity Securities Lending Cash Central Fund 5.39% (g)(h) | 100 | 100 | |
TOTAL MONEY MARKET FUNDS (Cost $141,286,308) | 141,286,308 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $2,726,885,724) | 5,317,901,454 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (2,805,308) |
NET ASSETS - 100.0% | 5,315,096,146 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $91,581,866 or 1.7% of net assets. |
(e) | Amount is stated in United States dollars unless otherwise noted. |
(f) | Security is perpetual in nature with no stated maturity date. |
(g) | 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. |
(h) | Investment made with cash collateral received from securities on loan. |
(i) | Equity security is subject to lock-up or market standoff agreement and valued at a discount to the market price of the equivalent equity security. As of period end, the total fair value of equity securities discounted due to contractual sale restrictions is $676,706 and all restrictions are set to expire on or before June 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Akeana Series C | 1/23/24 | 454,284 |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 2,982,393 |
Astera Labs, Inc. Series A | 5/17/22 | 1,469,513 |
Astera Labs, Inc. Series B | 5/17/22 | 250,200 |
Astera Labs, Inc. Series C | 8/24/21 | 455,188 |
Astera Labs, Inc. Series D | 5/17/22 - 5/27/22 | 6,008,161 |
ByteDance Ltd. Series E1 | 11/18/20 | 2,852,873 |
Convoy, Inc. Series D | 10/30/19 | 1,107,057 |
Convoy, Inc. warrants | 3/24/23 | 0 |
Convoy, Inc. 15% 9/30/26 | 3/24/23 | 35,680 |
CoreWeave, Inc. | 11/29/23 | 7,157,766 |
Databricks, Inc. Series G | 2/01/21 | 2,234,836 |
Databricks, Inc. Series H | 8/31/21 | 7,332,688 |
Databricks, Inc. Series I | 9/14/23 | 92,978 |
Diamond Foundry, Inc. Series C | 3/15/21 | 3,642,168 |
Discord, Inc. Series I | 9/15/21 | 275,312 |
Enevate Corp. Series E | 1/29/21 | 10,507,436 |
Enevate Corp. 6% | 11/02/23 | 492,835 |
GoBrands, Inc. Series G | 3/02/21 | 3,521,014 |
Lightmatter, Inc. Series C | 5/19/23 | 1,356,386 |
Lightmatter, Inc. Series C2 | 12/18/23 | 336,619 |
Meesho Series F | 9/21/21 | 3,572,929 |
Pine Labs Private Ltd. | 6/30/21 | 1,364,668 |
Pine Labs Private Ltd. Series 1 | 6/30/21 | 3,261,406 |
Pine Labs Private Ltd. Series A | 6/30/21 | 815,072 |
Pine Labs Private Ltd. Series B | 6/30/21 | 886,661 |
Pine Labs Private Ltd. Series B2 | 6/30/21 | 717,010 |
Pine Labs Private Ltd. Series C | 6/30/21 | 1,334,093 |
Pine Labs Private Ltd. Series C1 | 6/30/21 | 281,136 |
Pine Labs Private Ltd. Series D | 6/30/21 | 300,525 |
Reddit, Inc. Series D | 2/04/19 | 2,045,018 |
Reddit, Inc. Series E | 5/18/21 | 225,113 |
Reddit, Inc. Series F | 8/11/21 | 9,554,279 |
Relativity Space, Inc. Series E | 5/27/21 | 11,020,585 |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 1,085,102 |
SiMa.ai Series B | 5/10/21 | 1,184,429 |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 713,934 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 762,398 |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 294,497 |
VAST Data Ltd. Series A | 11/28/23 | 331,551 |
VAST Data Ltd. Series A1 | 11/28/23 | 816,035 |
VAST Data Ltd. Series A2 | 11/28/23 | 938,707 |
VAST Data Ltd. Series B | 11/28/23 | 746,944 |
VAST Data Ltd. Series C | 11/28/23 | 21,769 |
VAST Data Ltd. Series E | 11/28/23 | 1,427,492 |
Xsight Labs Ltd. warrants 1/11/34 | 1/11/24 | 0 |
Xsight Labs Ltd. Series D | 2/16/21 | 809,995 |
Xsight Labs Ltd. Series D1 | 1/11/24 | 738,543 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 12,460,075 | 557,488,738 | 428,662,605 | 2,157,066 | - | - | 141,286,208 | 0.3% |
Fidelity Securities Lending Cash Central Fund 5.39% | 5,023,259 | 34,343,285 | 39,366,444 | 2,813 | - | - | 100 | 0.0% |
Total | 17,483,334 | 591,832,023 | 468,029,049 | 2,159,879 | - | - | 141,286,308 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 5,093,522,748 | 4,944,371,725 | 140,459,753 | 8,691,270 |
Preferred Stocks | 79,274,768 | - | - | 79,274,768 |
Corporate Bonds | 2,986,270 | - | - | 2,986,270 |
Preferred Securities | 831,360 | - | - | 831,360 |
Money Market Funds | 141,286,308 | 141,286,308 | - | - |
Total Investments in Securities: | 5,317,901,454 | 5,085,658,033 | 140,459,753 | 91,783,668 |
Investments in Securities: | |||
Preferred Stocks | |||
Beginning Balance | $ | 74,365,732 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 316,975 | ||
Cost of Purchases | 5,904,922 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (1,312,861) | ||
Ending Balance | $ | 79,274,768 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | 316,975 | |
Other Investments in Securities | |||
Beginning Balance | $ | 6,662,283 | |
Net Realized Gain (Loss) on Investment Securities | (3,985,179) | ||
Net Unrealized Gain (Loss) on Investment Securities | 3,164,866 | ||
Cost of Purchases | 10,927,491 | ||
Proceeds of Sales | (4,260,561) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 12,508,900 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at January 31, 2024 | $ | (1,013,578) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $23) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,585,599,416) | $ | 5,176,615,146 | ||
Fidelity Central Funds (cost $141,286,308) | 141,286,308 | |||
Total Investment in Securities (cost $2,726,885,724) | $ | 5,317,901,454 | ||
Receivable for investments sold | 54,316,916 | |||
Receivable for fund shares sold | 5,241,042 | |||
Dividends receivable | 55,470 | |||
Interest receivable | 53,020 | |||
Distributions receivable from Fidelity Central Funds | 318,065 | |||
Prepaid expenses | 6,720 | |||
Other receivables | 148,950 | |||
Total assets | 5,378,041,637 | |||
Liabilities | ||||
Payable for investments purchased | $ | 54,378,244 | ||
Payable for fund shares redeemed | 4,387,727 | |||
Accrued management fee | 2,255,117 | |||
Distribution and service plan fees payable | 952,551 | |||
Other affiliated payables | 737,768 | |||
Other payables and accrued expenses | 233,984 | |||
Collateral on securities loaned | 100 | |||
Total Liabilities | 62,945,491 | |||
Net Assets | $ | 5,315,096,146 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,630,794,971 | ||
Total accumulated earnings (loss) | 2,684,301,175 | |||
Net Assets | $ | 5,315,096,146 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($2,062,730,486 ÷ 20,960,894 shares)(a) | $ | 98.41 | ||
Maximum offering price per share (100/94.25 of $98.41) | $ | 104.41 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($670,930,613 ÷ 7,498,438 shares)(a) | $ | 89.48 | ||
Maximum offering price per share (100/96.50 of $89.48) | $ | 92.73 | ||
Class C : | ||||
Net Asset Value and offering price per share ($312,953,819 ÷ 4,332,553 shares)(a) | $ | 72.23 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($1,697,658,749 ÷ 15,289,019 shares) | $ | 111.04 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($570,822,479 ÷ 5,141,648 shares) | $ | 111.02 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 13,260,880 | ||
Interest | 51,162 | |||
Income from Fidelity Central Funds (including $2,813 from security lending) | 2,159,879 | |||
Total Income | 15,471,921 | |||
Expenses | ||||
Management fee | $ | 12,784,752 | ||
Transfer agent fees | 3,680,875 | |||
Distribution and service plan fees | 5,305,967 | |||
Accounting fees | 479,514 | |||
Custodian fees and expenses | 28,699 | |||
Independent trustees' fees and expenses | 13,980 | |||
Registration fees | 117,617 | |||
Audit | 36,065 | |||
Legal | 4,147 | |||
Interest | 2,547 | |||
Miscellaneous | 10,096 | |||
Total expenses before reductions | 22,464,259 | |||
Expense reductions | (211,116) | |||
Total expenses after reductions | 22,253,143 | |||
Net Investment income (loss) | (6,781,222) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 131,411,049 | |||
Redemptions in-kind | 75,184,814 | |||
Foreign currency transactions | (441) | |||
Total net realized gain (loss) | 206,595,422 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 152,454,456 | |||
Assets and liabilities in foreign currencies | (2,478) | |||
Total change in net unrealized appreciation (depreciation) | 152,451,978 | |||
Net gain (loss) | 359,047,400 | |||
Net increase (decrease) in net assets resulting from operations | $ | 352,266,178 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (6,781,222) | $ | (9,304,481) |
Net realized gain (loss) | 206,595,422 | 139,820,713 | ||
Change in net unrealized appreciation (depreciation) | 152,451,978 | 1,053,544,131 | ||
Net increase (decrease) in net assets resulting from operations | 352,266,178 | 1,184,060,363 | ||
Distributions to shareholders | (196,413,935) | (117,622,896) | ||
Share transactions - net increase (decrease) | 39,486,823 | 221,530,897 | ||
Total increase (decrease) in net assets | 195,339,066 | 1,287,968,364 | ||
Net Assets | ||||
Beginning of period | 5,119,757,080 | 3,831,788,716 | ||
End of period | $ | 5,315,096,146 | $ | 5,119,757,080 |
Fidelity Advisor® Technology Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 95.17 | $ | 75.41 | $ | 102.43 | $ | 76.36 | $ | 52.61 | $ | 60.37 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.15) | (.21) | (.37) | (.39) | (.12) | .02 | ||||||
Net realized and unrealized gain (loss) | 7.14 | 22.28 | (13.94) | 33.48 | 25.35 | 1.84 | ||||||
Total from investment operations | 6.99 | 22.07 | (14.31) | 33.09 | 25.23 | 1.86 | ||||||
Distributions from net realized gain | (3.75) | (2.31) | (12.71) | (7.02) | (1.48) | (9.62) | ||||||
Total distributions | (3.75) | (2.31) | (12.71) | (7.02) | (1.48) | (9.62) | ||||||
Net asset value, end of period | $ | 98.41 | $ | 95.17 | $ | 75.41 | $ | 102.43 | $ | 76.36 | $ | 52.61 |
Total Return C,D,E | 7.49% | 30.51% | (16.78)% | 44.80% | 48.83% | 7.26% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .97% H | .98% | .97% | .98% | 1.01% | 1.03% | ||||||
Expenses net of fee waivers, if any | .96% H | .98% | .97% | .98% | 1.01% | 1.03% | ||||||
Expenses net of all reductions | .96% H | .98% | .97% | .98% | 1.01% | 1.02% | ||||||
Net investment income (loss) | (.33)% H | (.29)% | (.41)% | (.43)% | (.20)% | .04% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,062,730 | $ | 1,906,585 | $ | 1,467,792 | $ | 1,848,643 | $ | 1,339,059 | $ | 884,749 |
Portfolio turnover rate I | 19% H,J | 30% | 20% | 44% | 40% J | 88% |
Fidelity Advisor® Technology Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 86.92 | $ | 69.25 | $ | 95.15 | $ | 71.37 | $ | 49.28 | $ | 57.23 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.24) | (.36) | (.55) | (.57) | (.25) | (.10) | ||||||
Net realized and unrealized gain (loss) | 6.51 | 20.34 | (12.76) | 31.22 | 23.71 | 1.63 | ||||||
Total from investment operations | 6.27 | 19.98 | (13.31) | 30.65 | 23.46 | 1.53 | ||||||
Distributions from net realized gain | (3.71) | (2.31) | (12.59) | (6.87) | (1.37) | (9.48) | ||||||
Total distributions | (3.71) | (2.31) | (12.59) | (6.87) | (1.37) | (9.48) | ||||||
Net asset value, end of period | $ | 89.48 | $ | 86.92 | $ | 69.25 | $ | 95.15 | $ | 71.37 | $ | 49.28 |
Total Return C,D,E | 7.37% | 30.20% | (16.99)% | 44.47% | 48.44% | 7.00% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.21% H | 1.22% | 1.21% | 1.23% | 1.26% | 1.28% | ||||||
Expenses net of fee waivers, if any | 1.21% H | 1.22% | 1.21% | 1.23% | 1.26% | 1.28% | ||||||
Expenses net of all reductions | 1.21% H | 1.22% | 1.21% | 1.22% | 1.26% | 1.28% | ||||||
Net investment income (loss) | (.57)% H | (.53)% | (.65)% | (.68)% | (.45)% | (.22)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 670,931 | $ | 624,612 | $ | 484,293 | $ | 624,534 | $ | 464,093 | $ | 321,915 |
Portfolio turnover rate I | 19% H,J | 30% | 20% | 44% | 40% J | 88% |
Fidelity Advisor® Technology Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 71.04 | $ | 57.35 | $ | 80.98 | $ | 61.67 | $ | 42.81 | $ | 51.18 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.37) | (.58) | (.83) | (.85) | (.46) | (.30) | ||||||
Net realized and unrealized gain (loss) | 5.27 | 16.58 | (10.43) | 26.79 | 20.52 | 1.22 | ||||||
Total from investment operations | 4.90 | 16.00 | (11.26) | 25.94 | 20.06 | .92 | ||||||
Distributions from net realized gain | (3.71) | (2.31) | (12.37) | (6.63) | (1.20) | (9.29) | ||||||
Total distributions | (3.71) | (2.31) | (12.37) | (6.63) | (1.20) | (9.29) | ||||||
Net asset value, end of period | $ | 72.23 | $ | 71.04 | $ | 57.35 | $ | 80.98 | $ | 61.67 | $ | 42.81 |
Total Return C,D,E | 7.09% | 29.50% | (17.41)% | 43.73% | 47.69% | 6.44% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 1.74% H | 1.75% | 1.73% | 1.75% | 1.77% | 1.79% | ||||||
Expenses net of fee waivers, if any | 1.73% H | 1.74% | 1.73% | 1.74% | 1.77% | 1.79% | ||||||
Expenses net of all reductions | 1.73% H | 1.74% | 1.73% | 1.74% | 1.77% | 1.78% | ||||||
Net investment income (loss) | (1.09)% H | (1.05)% | (1.17)% | (1.20)% | (.96)% | (.72)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 312,954 | $ | 313,457 | $ | 288,008 | $ | 410,661 | $ | 343,585 | $ | 240,358 |
Portfolio turnover rate I | 19% H,J | 30% | 20% | 44% | 40% J | 88% |
Fidelity Advisor® Technology Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 107.03 | $ | 84.29 | $ | 112.95 | $ | 83.56 | $ | 57.41 | $ | 64.86 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.04) | (.02) | (.15) | (.17) | .04 | .17 | ||||||
Net realized and unrealized gain (loss) | 8.07 | 25.07 | (15.67) | 36.76 | 27.72 | 2.15 | ||||||
Total from investment operations | 8.03 | 25.05 | (15.82) | 36.59 | 27.76 | 2.32 | ||||||
Distributions from net investment income | - | - | - | - | - | (.01) | ||||||
Distributions from net realized gain | (4.02) | (2.31) | (12.84) | (7.20) | (1.61) | (9.76) | ||||||
Total distributions | (4.02) | (2.31) | (12.84) | (7.20) | (1.61) | (9.77) | ||||||
Net asset value, end of period | $ | 111.04 | $ | 107.03 | $ | 84.29 | $ | 112.95 | $ | 83.56 | $ | 57.41 |
Total Return C,D | 7.64% | 30.84% | (16.56)% | 45.18% | 49.22% | 7.56% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .71% G | .72% | .71% | .72% | .74% | .76% | ||||||
Expenses net of fee waivers, if any | .70% G | .71% | .71% | .72% | .74% | .76% | ||||||
Expenses net of all reductions | .70% G | .71% | .71% | .72% | .74% | .76% | ||||||
Net investment income (loss) | (.07)% G | (.03)% | (.15)% | (.18)% | .07% | .30% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,697,659 | $ | 1,515,475 | $ | 1,129,418 | $ | 1,470,830 | $ | 1,035,091 | $ | 674,914 |
Portfolio turnover rate H | 19% G,I | 30% | 20% | 44% | 40% I | 88% |
Fidelity Advisor® Technology Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 107.07 | $ | 84.22 | $ | 112.81 | $ | 83.44 | $ | 57.34 | $ | 67.88 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .02 | .08 | (.04) | (.06) | .12 | .23 | ||||||
Net realized and unrealized gain (loss) | 8.07 | 25.08 | (15.63) | 36.72 | 27.68 | (.90) | ||||||
Total from investment operations | 8.09 | 25.16 | (15.67) | 36.66 | 27.80 | (.67) | ||||||
Distributions from net investment income | - | - | - | - | - | (.11) | ||||||
Distributions from net realized gain | (4.14) | (2.31) | (12.92) | (7.29) | (1.70) | (9.76) | ||||||
Total distributions | (4.14) | (2.31) | (12.92) | (7.29) | (1.70) | (9.87) | ||||||
Net asset value, end of period | $ | 111.02 | $ | 107.07 | $ | 84.22 | $ | 112.81 | $ | 83.44 | $ | 57.34 |
Total Return D,E | 7.70% | 31.00% | (16.46)% | 45.37% | 49.39% | 2.88% | ||||||
Ratios to Average Net Assets C,F,G | ||||||||||||
Expenses before reductions | .59% H | .60% | .59% | .60% | .62% | .63% H | ||||||
Expenses net of fee waivers, if any | .58% H | .59% | .59% | .60% | .62% | .63% H | ||||||
Expenses net of all reductions | .58% H | .59% | .59% | .60% | .62% | .62% H | ||||||
Net investment income (loss) | .05% H | .09% | (.04)% | (.06)% | .19% | .53% H | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 570,822 | $ | 759,629 | $ | 462,278 | $ | 524,383 | $ | 298,255 | $ | 31,619 |
Portfolio turnover rate I | 19% H,J | 30% | 20% | 44% | 40% J | 88% |
Top Holdings (% of Fund's net assets) | ||
NextEra Energy, Inc. | 14.2 | |
Sempra | 9.1 | |
Duke Energy Corp. | 8.3 | |
Southern Co. | 7.6 | |
PG&E Corp. | 6.1 | |
Edison International | 4.9 | |
Constellation Energy Corp. | 4.9 | |
FirstEnergy Corp. | 4.9 | |
American Electric Power Co., Inc. | 4.8 | |
Entergy Corp. | 4.7 | |
69.5 | ||
Industries (% of Fund's net assets) | ||
Electric Utilities | 71.7 | |
Multi-Utilities | 16.5 | |
Independent Power and Renewable Electricity Producers | 7.8 | |
Water Utilities | 0.9 | |
Gas Utilities | 0.5 | |
Electrical Equipment | 0.2 | |
Common Stocks - 97.6% | |||
Shares | Value ($) | ||
Electric Utilities - 71.7% | |||
Electric Utilities - 71.7% | |||
American Electric Power Co., Inc. | 398,176 | 31,113,473 | |
Constellation Energy Corp. | 259,015 | 31,599,830 | |
Duke Energy Corp. | 560,185 | 53,682,529 | |
Edison International | 472,109 | 31,857,915 | |
Entergy Corp. | 301,800 | 30,107,568 | |
Evergy, Inc. | 277,000 | 14,063,290 | |
Eversource Energy | 437,081 | 23,698,532 | |
Exelon Corp. | 95,400 | 3,320,874 | |
FirstEnergy Corp. | 860,568 | 31,565,634 | |
Fortum Corp. | 144,000 | 1,974,828 | |
NextEra Energy, Inc. | 1,567,348 | 91,893,614 | |
NRG Energy, Inc. | 64,563 | 3,424,422 | |
PG&E Corp. | 2,344,098 | 39,544,933 | |
PPL Corp. | 1,009,834 | 26,457,651 | |
Southern Co. | 711,272 | 49,447,629 | |
463,752,722 | |||
Electrical Equipment - 0.2% | |||
Electrical Components & Equipment - 0.2% | |||
Sunrun, Inc. (a)(b) | 79,500 | 1,151,160 | |
Gas Utilities - 0.5% | |||
Gas Utilities - 0.5% | |||
UGI Corp. (b) | 135,700 | 3,004,398 | |
Independent Power and Renewable Electricity Producers - 7.8% | |||
Independent Power Producers & Energy Traders - 6.2% | |||
Energy Harbor Corp. (a) | 142,300 | 11,426,690 | |
The AES Corp. | 726,000 | 12,109,680 | |
Vistra Corp. | 399,873 | 16,406,789 | |
39,943,159 | |||
Renewable Electricity - 1.6% | |||
Clearway Energy, Inc. Class A | 93,226 | 2,093,856 | |
NextEra Energy Partners LP | 207,700 | 6,199,845 | |
Sunnova Energy International, Inc. (a)(b) | 218,574 | 2,299,398 | |
10,593,099 | |||
TOTAL INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS | 50,536,258 | ||
Multi-Utilities - 16.5% | |||
Multi-Utilities - 16.5% | |||
DTE Energy Co. | 134,217 | 14,149,156 | |
NiSource, Inc. | 843,644 | 21,909,435 | |
Public Service Enterprise Group, Inc. | 205,809 | 11,934,864 | |
Sempra | 822,973 | 58,891,948 | |
106,885,403 | |||
Water Utilities - 0.9% | |||
Water Utilities - 0.9% | |||
Essential Utilities, Inc. (b) | 159,418 | 5,716,729 | |
TOTAL COMMON STOCKS (Cost $554,655,817) | 631,046,670 | ||
Money Market Funds - 2.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 3,825,128 | 3,825,893 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 11,946,845 | 11,948,040 | |
TOTAL MONEY MARKET FUNDS (Cost $15,773,933) | 15,773,933 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $570,429,750) | 646,820,603 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (490,404) |
NET ASSETS - 100.0% | 646,330,199 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | - | 150,108,642 | 146,282,749 | 143,646 | - | - | 3,825,893 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 1,061,200 | 23,566,061 | 12,679,221 | 3,628 | - | - | 11,948,040 | 0.0% |
Total | 1,061,200 | 173,674,703 | 158,961,970 | 147,274 | - | - | 15,773,933 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 631,046,670 | 631,046,670 | - | - |
Money Market Funds | 15,773,933 | 15,773,933 | - | - |
Total Investments in Securities: | 646,820,603 | 646,820,603 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $11,456,621) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $554,655,817) | $ | 631,046,670 | ||
Fidelity Central Funds (cost $15,773,933) | 15,773,933 | |||
Total Investment in Securities (cost $570,429,750) | $ | 646,820,603 | ||
Receivable for investments sold | 14,244,588 | |||
Receivable for fund shares sold | 396,076 | |||
Dividends receivable | 173,683 | |||
Distributions receivable from Fidelity Central Funds | 22,546 | |||
Prepaid expenses | 1,092 | |||
Total assets | 661,658,588 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,639,016 | ||
Payable for fund shares redeemed | 1,179,591 | |||
Accrued management fee | 290,525 | |||
Distribution and service plan fees payable | 130,422 | |||
Other affiliated payables | 109,588 | |||
Other payables and accrued expenses | 31,207 | |||
Collateral on securities loaned | 11,948,040 | |||
Total Liabilities | 15,328,389 | |||
Net Assets | $ | 646,330,199 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 549,501,174 | ||
Total accumulated earnings (loss) | 96,829,025 | |||
Net Assets | $ | 646,330,199 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($291,108,415 ÷ 8,369,320 shares)(a) | $ | 34.78 | ||
Maximum offering price per share (100/94.25 of $34.78) | $ | 36.90 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($60,717,794 ÷ 1,740,401 shares)(a) | $ | 34.89 | ||
Maximum offering price per share (100/96.50 of $34.89) | $ | 36.16 | ||
Class C : | ||||
Net Asset Value and offering price per share ($49,544,013 ÷ 1,462,621 shares)(a) | $ | 33.87 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($179,227,131 ÷ 5,020,583 shares) | $ | 35.70 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($65,732,846 ÷ 1,842,696 shares) | $ | 35.67 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 9,481,449 | ||
Income from Fidelity Central Funds (including $3,628 from security lending) | 147,274 | |||
Total Income | 9,628,723 | |||
Expenses | ||||
Management fee | $ | 1,833,399 | ||
Transfer agent fees | 581,763 | |||
Distribution and service plan fees | 791,184 | |||
Accounting fees | 110,841 | |||
Custodian fees and expenses | 5,593 | |||
Independent trustees' fees and expenses | 2,177 | |||
Registration fees | 71,306 | |||
Audit | 25,981 | |||
Legal | 961 | |||
Interest | 13,559 | |||
Miscellaneous | 1,607 | |||
Total expenses before reductions | 3,438,371 | |||
Expense reductions | (30,362) | |||
Total expenses after reductions | 3,408,009 | |||
Net Investment income (loss) | 6,220,714 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 24,869,283 | |||
Foreign currency transactions | 104 | |||
Total net realized gain (loss) | 24,869,387 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (66,891,404) | |||
Assets and liabilities in foreign currencies | 121 | |||
Total change in net unrealized appreciation (depreciation) | (66,891,283) | |||
Net gain (loss) | (42,021,896) | |||
Net increase (decrease) in net assets resulting from operations | $ | (35,801,182) |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 6,220,714 | $ | 15,393,791 |
Net realized gain (loss) | 24,869,387 | 16,244,128 | ||
Change in net unrealized appreciation (depreciation) | (66,891,283) | (49,018,005) | ||
Net increase (decrease) in net assets resulting from operations | (35,801,182) | (17,380,086) | ||
Distributions to shareholders | (17,275,171) | (42,208,285) | ||
Share transactions - net increase (decrease) | (119,193,626) | 47,417,119 | ||
Total increase (decrease) in net assets | (172,269,979) | (12,171,252) | ||
Net Assets | ||||
Beginning of period | 818,600,178 | 830,771,430 | ||
End of period | $ | 646,330,199 | $ | 818,600,178 |
Fidelity Advisor® Utilities Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 37.27 | $ | 39.71 | $ | 34.53 | $ | 30.67 | $ | 31.73 | $ | 31.54 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .30 | .64 | .52 | .56 | .60 | .67 | ||||||
Net realized and unrealized gain (loss) | (1.88) | (1.29) | 5.84 | 3.98 | (1.03) | 2.81 | ||||||
Total from investment operations | (1.58) | (.65) | 6.36 | 4.54 | (.43) | 3.48 | ||||||
Distributions from net investment income | (.42) | (.64) | (.67) | (.68) | (.62) | (.48) | ||||||
Distributions from net realized gain | (.49) | (1.15) | (.51) | - | - C | (2.81) | ||||||
Total distributions | (.91) | (1.79) | (1.18) | (.68) | (.63) D | (3.29) | ||||||
Net asset value, end of period | $ | 34.78 | $ | 37.27 | $ | 39.71 | $ | 34.53 | $ | 30.67 | $ | 31.73 |
Total Return E,F,G | (4.26)% | (1.58)% | 18.70% | 14.95% | (1.56)% | 11.73% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.02% J | 1.01% | 1.02% | 1.05% | 1.06% | 1.08% | ||||||
Expenses net of fee waivers, if any | 1.02% J | 1.01% | 1.02% | 1.04% | 1.06% | 1.07% | ||||||
Expenses net of all reductions | 1.02% J | 1.01% | 1.02% | 1.03% | 1.05% | 1.06% | ||||||
Net investment income (loss) | 1.73% J | 1.71% | 1.41% | 1.70% | 1.88% | 2.14% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 291,108 | $ | 327,807 | $ | 322,060 | $ | 254,388 | $ | 249,158 | $ | 268,246 |
Portfolio turnover rate K | 89% J | 66% | 36% | 45% | 80% L | 56% |
Fidelity Advisor® Utilities Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 37.37 | $ | 39.81 | $ | 34.57 | $ | 30.71 | $ | 31.77 | $ | 31.58 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .26 | .54 | .42 | .47 | .51 | .58 | ||||||
Net realized and unrealized gain (loss) | (1.88) | (1.29) | 5.85 | 3.99 | (1.03) | 2.81 | ||||||
Total from investment operations | (1.62) | (.75) | 6.27 | 4.46 | (.52) | 3.39 | ||||||
Distributions from net investment income | (.37) | (.54) | (.51) | (.60) | (.53) | (.39) | ||||||
Distributions from net realized gain | (.49) | (1.15) | (.51) | - | - C | (2.81) | ||||||
Total distributions | (.86) | (1.69) | (1.03) D | (.60) | (.54) D | (3.20) | ||||||
Net asset value, end of period | $ | 34.89 | $ | 37.37 | $ | 39.81 | $ | 34.57 | $ | 30.71 | $ | 31.77 |
Total Return E,F,G | (4.37)% | (1.85)% | 18.37% | 14.63% | (1.82)% | 11.38% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.29% J | 1.28% | 1.30% | 1.32% | 1.33% | 1.36% | ||||||
Expenses net of fee waivers, if any | 1.28% J | 1.27% | 1.29% | 1.32% | 1.33% | 1.36% | ||||||
Expenses net of all reductions | 1.28% J | 1.27% | 1.29% | 1.31% | 1.33% | 1.35% | ||||||
Net investment income (loss) | 1.46% J | 1.45% | 1.14% | 1.42% | 1.60% | 1.86% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 60,718 | $ | 68,733 | $ | 71,690 | $ | 58,065 | $ | 58,773 | $ | 61,741 |
Portfolio turnover rate K | 89% J | 66% | 36% | 45% | 80% L | 56% |
Fidelity Advisor® Utilities Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 36.30 | $ | 38.73 | $ | 33.60 | $ | 29.83 | $ | 30.90 | $ | 30.81 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .17 | .35 | .24 | .30 | .35 | .42 | ||||||
Net realized and unrealized gain (loss) | (1.83) | (1.26) | 5.67 | 3.88 | (1.01) | 2.74 | ||||||
Total from investment operations | (1.66) | (.91) | 5.91 | 4.18 | (.66) | 3.16 | ||||||
Distributions from net investment income | (.28) | (.37) | (.27) | (.41) | (.40) | (.26) | ||||||
Distributions from net realized gain | (.49) | (1.15) | (.51) | - | - C | (2.81) | ||||||
Total distributions | (.77) | (1.52) | (.78) | (.41) | (.41) D | (3.07) | ||||||
Net asset value, end of period | $ | 33.87 | $ | 36.30 | $ | 38.73 | $ | 33.60 | $ | 29.83 | $ | 30.90 |
Total Return E,F,G | (4.61)% | (2.34)% | 17.78% | 14.10% | (2.28)% | 10.87% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.78% J | 1.77% | 1.78% | 1.80% | 1.81% | 1.83% | ||||||
Expenses net of fee waivers, if any | 1.77% J | 1.76% | 1.78% | 1.80% | 1.81% | 1.83% | ||||||
Expenses net of all reductions | 1.77% J | 1.76% | 1.78% | 1.79% | 1.80% | 1.82% | ||||||
Net investment income (loss) | .97% J | .96% | .65% | .94% | 1.12% | 1.39% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 49,544 | $ | 58,042 | $ | 61,087 | $ | 49,312 | $ | 63,458 | $ | 66,525 |
Portfolio turnover rate K | 89% J | 66% | 36% | 45% | 80% L | 56% |
Fidelity Advisor® Utilities Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 38.22 | $ | 40.68 | $ | 35.39 | $ | 31.40 | $ | 32.47 | $ | 32.21 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .36 | .76 | .64 | .66 | .71 | .76 | ||||||
Net realized and unrealized gain (loss) | (1.92) | (1.33) | 5.98 | 4.10 | (1.07) | 2.88 | ||||||
Total from investment operations | (1.56) | (.57) | 6.62 | 4.76 | (.36) | 3.64 | ||||||
Distributions from net investment income | (.47) | (.74) | (.81) | (.77) | (.71) | (.58) | ||||||
Distributions from net realized gain | (.49) | (1.15) | (.51) | - | - C | (2.81) | ||||||
Total distributions | (.96) | (1.89) | (1.33) D | (.77) | (.71) | (3.38) D | ||||||
Net asset value, end of period | $ | 35.70 | $ | 38.22 | $ | 40.68 | $ | 35.39 | $ | 31.40 | $ | 32.47 |
Total Return E,F | (4.11)% | (1.34)% | 19.00% | 15.30% | (1.30)% | 12.04% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .76% I | .75% | .76% | .77% | .79% | .81% | ||||||
Expenses net of fee waivers, if any | .75% I | .74% | .75% | .77% | .78% | .80% | ||||||
Expenses net of all reductions | .75% I | .74% | .75% | .76% | .78% | .79% | ||||||
Net investment income (loss) | 1.99% I | 1.98% | 1.68% | 1.97% | 2.15% | 2.41% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 179,227 | $ | 255,201 | $ | 269,667 | $ | 143,582 | $ | 187,833 | $ | 229,777 |
Portfolio turnover rate J | 89% I | 66% | 36% | 45% | 80% K | 56% |
Fidelity Advisor® Utilities Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 38.20 | $ | 40.66 | $ | 35.38 | $ | 31.42 | $ | 32.48 | $ | 33.14 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .38 | .81 | .69 | .71 | .74 | .63 | ||||||
Net realized and unrealized gain (loss) | (1.93) | (1.33) | 5.98 | 4.08 | (1.04) | 2.13 | ||||||
Total from investment operations | (1.55) | (.52) | 6.67 | 4.79 | (.30) | 2.76 | ||||||
Distributions from net investment income | (.50) | (.79) | (.88) | (.83) | (.75) | (.61) | ||||||
Distributions from net realized gain | (.49) | (1.15) | (.51) | - | - D | (2.81) | ||||||
Total distributions | (.98) E | (1.94) | (1.39) | (.83) | (.76) E | (3.42) | ||||||
Net asset value, end of period | $ | 35.67 | $ | 38.20 | $ | 40.66 | $ | 35.38 | $ | 31.42 | $ | 32.48 |
Total Return F,G | (4.06)% | (1.21)% | 19.17% | 15.41% | (1.15)% | 9.04% | ||||||
Ratios to Average Net Assets C,H,I | ||||||||||||
Expenses before reductions | .63% J | .62% | .63% | .64% | .65% | .66% J | ||||||
Expenses net of fee waivers, if any | .62% J | .62% | .63% | .64% | .65% | .66% J | ||||||
Expenses net of all reductions | .62% J | .62% | .63% | .63% | .64% | .64% J | ||||||
Net investment income (loss) | 2.12% J | 2.10% | 1.81% | 2.10% | 2.29% | 2.41% J | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 65,733 | $ | 108,817 | $ | 106,266 | $ | 54,746 | $ | 52,034 | $ | 17,071 |
Portfolio turnover rate K | 89% J | 66% | 36% | 45% | 80% L | 56% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $36,894,086 | Market approach | Transaction price | $0.00 - $12.40 / $4.08 | Increase |
Discount rate | 5.0% - 35.0% / 23.8% | Decrease | |||
Premium rate | 10.0% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Discount rate | 4.7% - 6.2% / 5.2% | Decrease | ||
Probability rate | 0.0% - 90.0% / 45.0% | Increase | |||
Term | 0.2 - 7.2 / 3.7 | Increase | |||
Black scholes | Discount rate | 4.1% - 4.3% / 4.2% | Increase | ||
Volatility | 75.0% - 100.0% / 84.5% | Increase | |||
Term | 2.0 - 3.0 / 2.9 | Increase |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $61,436,335 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 2.3 - 20.0 / 5.6 | Increase |
Market approach | Transaction price | $7.75 - $20.56 / $13.55 | Increase | ||
Discount rate | 10.0% - 65.0% / 23.1% | Decrease | |||
Black scholes | Discount rate | 4.1% - 4.6% / 4.2% | Increase | ||
Volatility | 45.0% - 90.0% / 60.6% | Increase | |||
Term | 1.5 - 4.0 / 3.0 | Increase |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $87,966,038 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.0 - 30.8 / 10.3 | Increase |
Market approach | Transaction price | $1.11 - $59.45 / $6.72 | Increase | ||
Discount rate | 30.0% - 75.0% / 31.1% | Decrease | |||
Premium rate | 20.0% - 45.0% / 26.0% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Weighted average cost of capital (WACC) | 27.8% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.0% - 4.3% / 4.1% | Increase | ||
Volatility | 50.0% - 100.0% / 79.4% | Increase | |||
Term | 2.0 - 5.0 / 3.8 | Increase | |||
Corporate Bonds | $2,986,270 | Recovery value | Recovery value | $0.00 | Increase |
Discounted cash flow | Discount rate | 3.5% | Decrease | ||
Preferred Securities | $831,360 | Market approach | Transaction price | $100.00 | Increase |
Discount rate | 27.1% - 35.4% / 32.2% | Decrease | |||
Probability rate | 10.0% - 60.0% / 42.0% | Increase | |||
Black scholes | Discount rate | 4.2% - 4.3% / 4.2% | Increase | ||
Volatility | 70.0% - 100.0% / 88.6% | Increase | |||
Term | 2.0 - 3.0 / 2.6 | Increase |
Fidelity Advisor Energy Fund | 92,804 |
Fidelity Advisor Technology Fund | 148,950 |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Advisor Biotechnology Fund | $1,249,683,822 | $588,495,071 | $(46,523,774) | $541,971,297 |
Fidelity Advisor Consumer Discretionary Fund | 257,745,915 | 211,691,326 | (8,099,881) | 203,591,445 |
Fidelity Advisor Energy Fund | 701,637,040 | 436,748,525 | (12,415,216) | 424,333,309 |
Fidelity Advisor Financials Fund | 358,184,825 | 89,449,283 | (10,350,947) | 79,098,336 |
Fidelity Advisor Health Care Fund | 3,365,102,442 | 1,916,231,225 | (272,353,993) | 1,643,877,232 |
Fidelity Advisor Industrials Fund | 400,072,083 | 96,866,486 | (8,666,985) | 88,199,501 |
Fidelity Advisor Semiconductors Fund | 1,074,328,443 | 714,986,002 | (31,532,179) | 683,453,823 |
Fidelity Advisor Technology Fund | 2,788,474,176 | 2,707,672,306 | (178,245,028) | 2,529,427,278 |
Fidelity Advisor Utilities Fund | 575,844,855 | 99,164,658 | (28,188,910) | 70,975,748 |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Advisor Biotechnology Fund | $(28,267,198) | $- | $(28,267,198) |
Fidelity Advisor Consumer Discretionary Fund | (6,500,519) | - | (6,500,519) |
Fidelity Advisor Energy Fund | (189,871,773) | (88,148,356) | (278,020,129) |
Fidelity Advisor Financials Fund | (6,017,984) | - | (6,017,984) |
Fidelity Advisor Health Care Fund | (16,082,102) | - | (16,082,102) |
$ Amount | % of Net Assets | |
Fidelity Advisor Health Care Fund | 3,803,332 | .08 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Biotechnology Fund | 662,249,393 | 807,140,048 |
Fidelity Advisor Consumer Discretionary Fund | 58,961,077 | 102,119,241 |
Fidelity Advisor Energy Fund | 228,610,912 | 364,383,385 |
Fidelity Advisor Financials Fund | 98,018,478 | 156,563,607 |
Fidelity Advisor Health Care Fund | 1,009,968,313 | 1,837,084,289 |
Fidelity Advisor Industrials Fund | 79,414,565 | 150,102,603 |
Fidelity Advisor Semiconductors Fund | 402,450,256 | 192,249,324 |
Fidelity Advisor Technology Fund | 473,340,961 | 585,861,245 |
Fidelity Advisor Utilities Fund | 311,472,476 | 457,827,900 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Advisor Consumer Discretionary Fund | 493,122 | 15,311,646 | 19,147,937 | Class I |
Fidelity Advisor Energy Fund | 1,253,395 | 42,342,401 | 57,668,686 | Class I |
Fidelity Advisor Financials Fund | 629,921 | 7,051,602 | 15,955,906 | Class I |
Fidelity Advisor Industrials Fund | 553,097 | 11,201,399 | 22,245,575 | Class I |
Fidelity Advisor Technology Fund | 1,690,112 | 75,184,814 | 169,535,169 | Class I |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Advisor Industrials Fund | 634,301 | 16,690,939 | 26,323,494 | Class C |
Individual Rate | Group Rate | Total | |
Fidelity Advisor Biotechnology Fund | .30% | .22% | .52% |
Fidelity Advisor Consumer Discretionary Fund | .30% | .22% | .52% |
Fidelity Advisor Energy Fund | .30% | .22% | .52% |
Fidelity Advisor Financials Fund | .30% | .22% | .52% |
Fidelity Advisor Health Care Fund | .30% | .22% | .52% |
Fidelity Advisor Industrials Fund | .30% | .22% | .52% |
Fidelity Advisor Semiconductors Fund | .30% | .22% | .52% |
Fidelity Advisor Technology Fund | .30% | .22% | .52% |
Fidelity Advisor Utilities Fund | .30% | .22% | .52% |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Fidelity Advisor Biotechnology Fund | ||||
Class A | - % | .25% | $749,879 | $ - |
Class M | .25% | .25% | 269,522 | - |
Class C | .75% | .25% | 501,893 | 19,420 |
$1,521,294 | $19,420 | |||
Fidelity Advisor Consumer Discretionary Fund | ||||
Class A | - % | .25% | $250,172 | $289 |
Class M | .25% | .25% | 83,434 | - |
Class C | .75% | .25% | 190,519 | 10,398 |
$524,125 | $10,687 | |||
Fidelity Advisor Energy Fund | ||||
Class A | - % | .25% | $470,735 | $3,372 |
Class M | .25% | .25% | 271,390 | - |
Class C | .75% | .25% | 446,347 | 57,916 |
$1,188,472 | $61,288 | |||
Fidelity Advisor Financials Fund | ||||
Class A | - % | .25% | $202,276 | $ - |
Class M | .25% | .25% | 153,882 | - |
Class C | .75% | .25% | 181,795 | 9,333 |
$537,953 | $9,333 | |||
Fidelity Advisor Health Care Fund | ||||
Class A | - % | .25% | $1,778,225 | $1,998 |
Class M | .25% | .25% | 729,080 | - |
Class C | .75% | .25% | 1,555,223 | 83,235 |
$4,062,528 | $85,233 | |||
Fidelity Advisor Industrials Fund | ||||
Class A | - % | .25% | $274,125 | $ - |
Class M | .25% | .25% | 131,958 | - |
Class C | .75% | .25% | 154,503 | 6,437 |
$560,586 | $6,437 | |||
Fidelity Advisor Semiconductors Fund | ||||
Class A | - % | .25% | $723,240 | $11,644 |
Class M | .25% | .25% | 228,508 | - |
Class C | .75% | .25% | 618,559 | 108,891 |
$1,570,307 | $120,535 | |||
Fidelity Advisor Technology Fund | ||||
Class A | - % | .25% | $2,324,824 | $10,773 |
Class M | .25% | .25% | 1,519,636 | - |
Class C | .75% | .25% | 1,461,507 | 135,916 |
$5,305,967 | $146,689 | |||
Fidelity Advisor Utilities Fund | ||||
Class A | - % | .25% | $374,556 | $3,513 |
Class M | .25% | .25% | 156,974 | - |
Class C | .75% | .25% | 259,654 | 46,847 |
$791,184 | $50,360 |
Retained by FDC | |
Fidelity Advisor Biotechnology Fund | |
Class A | $30,535 |
Class M | 3,168 |
Class CA | 556 |
$34,259 | |
Fidelity Advisor Consumer Discretionary Fund | |
Class A | $27,740 |
Class M | 1,590 |
Class CA | 42 |
$29,372 | |
Fidelity Advisor Energy Fund | |
Class A | $61,011 |
Class M | 5,496 |
Class CA | 289 |
$66,796 | |
Fidelity Advisor Financials Fund | |
Class A | $9,056 |
Class M | 1,602 |
Class CA | 118 |
$10,776 | |
Fidelity Advisor Health Care Fund | |
Class A | $90,866 |
Class M | 10,124 |
Class CA | 1,271 |
$102,261 | |
Fidelity Advisor Industrials Fund | |
Class A | $12,096 |
Class M | 1,667 |
Class CA | 37 |
$13,800 | |
Fidelity Advisor Semiconductors Fund | |
Class A | $399,541 |
Class M | 11,317 |
Class CA | 945 |
$411,803 | |
Fidelity Advisor Technology Fund | |
Class A | $335,434 |
Class M | 18,826 |
Class CA | 1,269 |
$355,529 | |
Fidelity Advisor Utilities Fund | |
Class A | $40,893 |
Class M | 5,282 |
Class CA | 641 |
$46,816 |
% of Class-Level Average Net Assets | |
Fidelity Advisor Biotechnology Fund | |
Class A | 0.1903 |
Class M | 0.2000 |
Class C | 0.2000 |
Class I | 0.1685 |
Fidelity Advisor Consumer Discretionary Fund | |
Class A | 0.1852 |
Class M | 0.1966 |
Class C | 0.1935 |
Class I | 0.1674 |
Fidelity Advisor Energy Fund | |
Class A | 0.1947 |
Class M | 0.2000 |
Class C | 0.1869 |
Class I | 0.1705 |
Fidelity Advisor Financials Fund | |
Class A | 0.1976 |
Class M | 0.1869 |
Class C | 0.1947 |
Class I | 0.1737 |
Fidelity Advisor Health Care Fund | |
Class A | 0.1777 |
Class M | 0.1808 |
Class C | 0.1825 |
Class I | 0.1682 |
Fidelity Advisor Industrials Fund | |
Class A | 0.1826 |
Class M | 0.1827 |
Class C | 0.1899 |
Class I | 0.1650 |
Fidelity Advisor Semiconductors Fund | |
Class A | 0.1685 |
Class M | 0.1551 |
Class C | 0.1746 |
Class I | 0.1642 |
Fidelity Advisor Technology Fund | |
Class A | 0.1674 |
Class M | 0.1602 |
Class C | 0.1813 |
Class I | 0.1597 |
Fidelity Advisor Utilities Fund | |
Class A | 0.1841 |
Class M | 0.1996 |
Class C | 0.1879 |
Class I | 0.1669 |
Amount | % of Class-Level Average Net AssetsA | |
Fidelity Advisor Biotechnology Fund | ||
Class A | $575,105 | .19 |
Class M | 114,775 | .21 |
Class C | 101,141 | .20 |
Class I | 540,152 | .17 |
Class Z | 13,439 | .04 |
$1,344,612 | ||
Fidelity Advisor Consumer Discretionary Fund | ||
Class A | $188,620 | .19 |
Class M | 33,406 | .20 |
Class C | 37,432 | .20 |
Class I | 115,094 | .17 |
Class Z | 12,428 | .04 |
$386,980 | ||
Fidelity Advisor Energy Fund | ||
Class A | $362,859 | .19 |
Class M | 108,289 | .20 |
Class C | 82,887 | .19 |
Class I | 446,939 | .17 |
Class Z | 41,632 | .04 |
$1,042,606 | ||
Fidelity Advisor Financials Fund | ||
Class A | $162,050 | .20 |
Class M | 57,954 | .19 |
Class C | 35,433 | .19 |
Class I | 87,663 | .17 |
Class Z | 12,081 | .04 |
$355,181 | ||
Fidelity Advisor Health Care Fund | ||
Class A | $1,274,126 | .18 |
Class M | 266,355 | .18 |
Class C | 284,302 | .18 |
Class I | 1,916,130 | .17 |
Class Z | 149,800 | .04 |
$3,890,713 | ||
Fidelity Advisor Industrials Fund | ||
Class A | $202,957 | .19 |
Class M | 48,927 | .19 |
Class C | 29,632 | .19 |
Class I | 109,257 | .17 |
Class Z | 10,530 | .04 |
$401,303 | ||
Fidelity Advisor Semiconductors Fund | ||
Class A | $498,121 | .17 |
Class M | 72,775 | .16 |
Class C | 110,069 | .18 |
Class I | 448,693 | .17 |
Class Z | 20,983 | .04 |
$1,150,641 | ||
Fidelity Advisor Technology Fund | ||
Class A | $1,578,701 | .17 |
Class M | 493,806 | .16 |
Class C | 268,469 | .18 |
Class I | 1,205,235 | .16 |
Class Z | 134,664 | .04 |
$3,680,875 | ||
Fidelity Advisor Utilities Fund | ||
Class A | $279,780 | .19 |
Class M | 63,948 | .20 |
Class C | 49,481 | .19 |
Class I | 170,990 | .17 |
Class Z | 17,564 | .04 |
$581,763 |
% of Average Net Assets | |
Fidelity Advisor Biotechnology Fund | 0.0275 |
Fidelity Advisor Consumer Discretionary Fund | 0.0353 |
Fidelity Advisor Energy Fund | 0.0283 |
Fidelity Advisor Financials Fund | 0.0354 |
Fidelity Advisor Health Care Fund | 0.0174 |
Fidelity Advisor Industrials Fund | 0.0344 |
Fidelity Advisor Semiconductors Fund | 0.0281 |
Fidelity Advisor Technology Fund | 0.0192 |
Fidelity Advisor Utilities Fund | 0.0308 |
% of Average Net Assets | |
Fidelity Advisor Biotechnology Fund | .03 |
Fidelity Advisor Consumer Discretionary Fund | .04 |
Fidelity Advisor Energy Fund | .03 |
Fidelity Advisor Financials Fund | .04 |
Fidelity Advisor Health Care Fund | .02 |
Fidelity Advisor Industrials Fund | .03 |
Fidelity Advisor Semiconductors Fund | .03 |
Fidelity Advisor Technology Fund | .02 |
Fidelity Advisor Utilities Fund | .03 |
Maximum Management Fee Rate % | |
Fidelity Adviser Biotechnology Fund | |
Class A | .71 |
Class M | .72 |
Class C | .72 |
Class I | .69 |
Class Z | .56 |
Fidelity Adviser Consumer Discretionary Fund | |
Class A | .70 |
Class M | .72 |
Class C | .71 |
Class I | .69 |
Class Z | .56 |
Fidelity Adviser Energy Fund | |
Class A | .72 |
Class M | .72 |
Class C | .71 |
Class I | .69 |
Class Z | .56 |
Fidelity Financials Fund | |
Class A | .72 |
Class M | .71 |
Class C | .71 |
Class I | .69 |
Class Z | .56 |
Fidelity Adviser Health Care Fund | |
Class A | .69 |
Class M | .69 |
Class C | .69 |
Class I | .68 |
Class Z | .55 |
Fidelity Adviser Industrials Fund | |
Class A | .70 |
Class M | .70 |
Class C | .71 |
Class I | .68 |
Class Z | .56 |
Fidelity Adviser Semiconductors Fund | |
Class A | .69 |
Class M | .68 |
Class C | .70 |
Class I | .69 |
Class Z | .56 |
Fidelity Adviser Technology Fund | |
Class A | .68 |
Class M | .67 |
Class C | .69 |
Class I | .67 |
Class Z | .55 |
Fidelity Adviser Utilities Fund | |
Class A | .71 |
Class M | .72 |
Class C | .71 |
Class I | .69 |
Class Z | .57 |
Amount | |
Fidelity Advisor Biotechnology Fund | $32,434 |
Fidelity Advisor Consumer Discretionary Fund | 621 |
Fidelity Advisor Energy Fund | 6,238 |
Fidelity Advisor Financials Fund | 1,267 |
Fidelity Advisor Health Care Fund | 18,370 |
Fidelity Advisor Industrials Fund | 1,961 |
Fidelity Advisor Semiconductors Fund | 3,398 |
Fidelity Advisor Technology Fund | 4,748 |
Fidelity Advisor Utilities Fund | 4,928 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Biotechnology Fund | Borrower | $ 11,723,000 | 5.58% | $10,909 |
Fidelity Advisor Energy Fund | Borrower | $6,345,333 | 5.57% | $5,888 |
Fidelity Advisor Health Care Fund | Borrower | $ 17,223,286 | 5.57% | $37,301 |
Fidelity Advisor Industrials Fund | Borrower | $ 5,571,750 | 5.57% | $3,445 |
Fidelity Advisor Technology Fund | Borrower | $ 4,118,000 | 5.57% | $2,547 |
Fidelity Advisor Utilities Fund | Borrower | $ 14,616,167 | 5.57% | $13,559 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Biotechnology Fund | 21,850,138 | 48,013,280 | 1,403,689 |
Fidelity Advisor Consumer Discretionary Fund | 8,686,259 | 2,366,220 | (276,458) |
Fidelity Advisor Energy Fund | 17,321,484 | 3,410,490 | 786,371 |
Fidelity Advisor Financials Fund | 4,321,503 | 8,370,588 | 414,634 |
Fidelity Advisor Health Care Fund | 54,574,586 | 146,027,320 | (27,455,750) |
Fidelity Advisor Industrials Fund | 1,373,060 | 1,462,420 | (114,328) |
Fidelity Advisor Semiconductors Fund | 10,291,820 | 152,100 | (1,875) |
Fidelity Advisor Technology Fund | 12,890,751 | 7,952,372 | 2,083,504 |
Fidelity Advisor Utilities Fund | 728,567 | 19,857,435 | 2,039,757 |
Amount ($) | |
Fidelity Advisor Biotechnology Fund | 1,891 |
Amount | |
Fidelity Advisor Biotechnology Fund | $1,203 |
Fidelity Advisor Consumer Discretionary Fund | 377 |
Fidelity Advisor Energy Fund | 1,066 |
Fidelity Advisor Financials Fund | 340 |
Fidelity Advisor Health Care Fund | 4,116 |
Fidelity Advisor Industrials Fund | 393 |
Fidelity Advisor Semiconductors Fund | 1,104 |
Fidelity Advisor Technology Fund | 3,883 |
Fidelity Advisor Utilities Fund | 583 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Advisor Biotechnology Fund | $79,861 | $8,593 | $- |
Fidelity Advisor Consumer Discretionary Fund | $1,173 | $69 | $- |
Fidelity Advisor Energy Fund | $3,785 | $- | $- |
Fidelity Advisor Financials Fund | $213 | $- | $- |
Fidelity Advisor Health Care Fund | $12,997 | $193 | $142,505 |
Fidelity Advisor Industrials Fund | $272 | $- | $- |
Fidelity Advisor Semiconductors Fund | $10,903 | $2,765 | $- |
Fidelity Advisor Technology Fund | $280 | $206 | $- |
Fidelity Advisor Utilities Fund | $380 | $- | $- |
Custodian credits | Transfer Agent credits | |
Fidelity Advisor Biotechnology Fund | $460 | $- |
Class M | - | 427 |
Fidelity Advisor Energy Fund | - | - |
Class M | - | 151 |
Fidelity Advisor Financials Fund | - | - |
Class M | - | 20 |
Fidelity Advisor Health Care Fund | 190 | - |
Fidelity Advisor Industrials Fund | - | - |
Class M | - | 76 |
Fidelity Advisor Technology Fund | 353 | - |
Fidelity Advisor Utilities Fund | - | - |
Class M | - | 67 |
Fund-Level Amount | |
Fidelity Advisor Biotechnology Fund | $64,987 |
Fidelity Advisor Consumer Discretionary Fund | 20,210 |
Fidelity Advisor Energy Fund | 54,922 |
Fidelity Advisor Financials Fund | 17,921 |
Fidelity Advisor Health Care Fund | 214,367 |
Fidelity Advisor Industrials Fund | 20,940 |
Fidelity Advisor Semiconductors Fund | 61,534 |
Fidelity Advisor Technology Fund | 210,763 |
Fidelity Advisor Utilities Fund | 30,295 |
Six months ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Biotechnology Fund | ||
Distributions to shareholders | ||
Class A | $7,399,424 | $- |
Class M | 1,088,438 | - |
Class I | 9,290,645 | - |
Class Z | 1,038,552 | - |
Total | $18,817,059 | $- |
Fidelity Advisor Consumer Discretionary Fund | ||
Distributions to shareholders | ||
Class A | $- | $6,880,690 |
Class M | - | 1,398,366 |
Class C | - | 2,489,252 |
Class I | - | 3,782,125 |
Class Z | - | 2,612,656 |
Total | $- | $17,163,089 |
Fidelity Advisor Energy Fund | ||
Distributions to shareholders | ||
Class A | $7,318,037 | $8,545,498 |
Class M | 1,764,969 | 2,095,293 |
Class C | 1,178,876 | 1,833,534 |
Class I | 11,020,177 | 13,584,550 |
Class Z | 2,232,106 | 7,375,972 |
Total | $23,514,165 | $33,434,847 |
Fidelity Advisor Financials Fund | ||
Distributions to shareholders | ||
Class A | $3,936,144 | $10,343,831 |
Class M | 1,359,712 | 3,691,281 |
Class C | 580,285 | 2,770,639 |
Class I | 2,558,939 | 7,089,508 |
Class Z | 547,015 | 6,890,192 |
Total | $8,982,095 | $30,785,451 |
Fidelity Advisor Health Care Fund | ||
Distributions to shareholders | ||
Class A | $- | $- |
Class M | - | - |
Class C | - | - |
Class I | - | - |
Class Z | - | - |
Total | $- | $- |
Fidelity Advisor Industrials Fund | ||
Distributions to shareholders | ||
Class A | $19,091,633 | $7,071,012 |
Class M | 4,801,657 | 1,678,793 |
Class C | 3,163,271 | 1,387,568 |
Class I | 9,988,265 | 4,233,189 |
Class Z | 2,725,506 | 3,179,380 |
Total | $39,770,332 | $17,549,942 |
Fidelity Advisor Semiconductors Fund | ||
Distributions to shareholders | ||
Class A | $21,083,170 | $8,928,808 |
Class M | 3,540,848 | 1,417,206 |
Class C | 5,533,446 | 2,898,996 |
Class I | 18,203,721 | 7,802,658 |
Class Z | 3,470,629 | 1,111,011 |
Total | $51,831,814 | $22,158,679 |
Fidelity Advisor Technology Fund | ||
Distributions to shareholders | ||
Class A | $75,971,395 | $44,657,722 |
Class M | 26,863,953 | 15,873,515 |
Class C | 15,432,652 | 11,031,237 |
Class I | 58,230,400 | 31,149,239 |
Class Z | 19,915,535 | 14,911,183 |
Total | $196,413,935 | $117,622,896 |
Fidelity Advisor Utilities Fund | ||
Distributions to shareholders | ||
Class A | $7,597,835 | $15,827,969 |
Class M | 1,498,943 | 3,178,096 |
Class C | 1,134,625 | 2,595,233 |
Class I | 5,038,505 | 14,746,535 |
Class Z | 2,005,263 | 5,860,452 |
Total | $17,275,171 | $42,208,285 |
Shares | Shares | Dollars | Dollars | |
Six months ended January 31, 2024 | Year ended July 31, 2023 | Six months ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Biotechnology Fund | ||||
Class A | ||||
Shares sold | 1,343,267 | 3,200,209 | $33,757,673 | $78,997,743 |
Reinvestment of distributions | 273,310 | - | 6,909,268 | - |
Shares redeemed | (3,100,491) | (5,129,445) | (75,689,518) | (126,229,442) |
Net increase (decrease) | (1,483,914) | (1,929,236) | $(35,022,577) | $(47,231,699) |
Class M | ||||
Shares sold | 151,298 | 585,052 | $3,522,473 | $13,155,289 |
Reinvestment of distributions | 46,475 | - | 1,075,432 | - |
Shares redeemed | (466,528) | (1,112,087) | (10,581,894) | (25,079,956) |
Net increase (decrease) | (268,755) | (527,035) | $(5,983,989) | $(11,924,667) |
Class C | ||||
Shares sold | 151,797 | 406,454 | $3,003,859 | $7,809,259 |
Shares redeemed | (1,675,816) | (4,111,528) | (32,084,134) | (79,272,567) |
Net increase (decrease) | (1,524,019) | (3,705,074) | $(29,080,275) | $(71,463,308) |
Class I | ||||
Shares sold | 1,913,529 | 3,930,484 | $52,456,681 | $105,588,310 |
Reinvestment of distributions | 282,262 | - | 7,793,263 | - |
Shares redeemed | (4,529,949) | (7,664,664) | (121,193,926) | (205,027,950) |
Net increase (decrease) | (2,334,158) | (3,734,180) | $(60,943,982) | $(99,439,640) |
Class Z | ||||
Shares sold | 538,073 | 772,947 | $14,749,488 | $20,513,188 |
Reinvestment of distributions | 32,151 | - | 889,286 | - |
Shares redeemed | (478,829) | (1,187,102) | (12,695,760) | (31,371,222) |
Net increase (decrease) | 91,395 | (414,155) | $2,943,014 | $(10,858,034) |
Fidelity Advisor Consumer Discretionary Fund | ||||
Class A | ||||
Shares sold | 470,162 | 982,071 | $17,438,746 | $32,708,559 |
Reinvestment of distributions | - | 213,159 | - | 6,684,934 |
Shares redeemed | (445,404) | (1,161,794) | (16,357,629) | (37,480,011) |
Net increase (decrease) | 24,758 | 33,436 | $1,081,117 | $1,913,482 |
Class M | ||||
Shares sold | 46,820 | 139,907 | $1,611,608 | $4,259,426 |
Reinvestment of distributions | - | 48,202 | - | 1,382,434 |
Shares redeemed | (131,643) | (240,619) | (4,377,432) | (7,160,832) |
Net increase (decrease) | (84,823) | (52,510) | $(2,765,824) | $(1,518,972) |
Class C | ||||
Shares sold | 62,924 | 166,292 | $1,757,404 | $4,242,334 |
Reinvestment of distributions | - | 104,574 | - | 2,479,122 |
Shares redeemed | (370,247) | (750,676) | (10,254,370) | (18,507,976) |
Net increase (decrease) | (307,323) | (479,810) | $(8,496,966) | $(11,786,520) |
Class I | ||||
Shares sold | 1,102,478 | 1,961,206 | $43,841,316 | $72,509,098 |
Reinvestment of distributions | - | 105,097 | - | 3,632,142 |
Shares redeemed | (1,306,496) | (1,814,837) | (52,335,029) | (64,112,469) |
Net increase (decrease) | (204,018) | 251,466 | $(8,493,713) | $12,028,771 |
Class Z | ||||
Shares sold | 246,514 | 1,607,768 | $9,867,140 | $55,088,683 |
Reinvestment of distributions | - | 73,211 | - | 2,541,170 |
Shares redeemed | (1,482,833) | (774,213) | (57,652,071) | (27,608,114) |
Net increase (decrease) | (1,236,319) | 906,766 | $(47,784,931) | $30,021,739 |
Fidelity Advisor Energy Fund | ||||
Class A | ||||
Shares sold | 908,852 | 2,965,090 | $41,116,617 | $125,359,435 |
Reinvestment of distributions | 167,874 | 200,714 | 7,094,348 | 8,281,444 |
Shares redeemed | (1,275,878) | (3,841,903) | (56,372,285) | (159,054,801) |
Net increase (decrease) | (199,152) | (676,099) | $(8,161,320) | $(25,413,922) |
Class M | ||||
Shares sold | 180,013 | 390,349 | $8,340,375 | $16,951,245 |
Reinvestment of distributions | 39,715 | 48,467 | 1,727,981 | 2,057,403 |
Shares redeemed | (306,678) | (875,129) | (13,836,478) | (37,005,996) |
Net increase (decrease) | (86,950) | (436,313) | $(3,768,122) | $(17,997,348) |
Class C | ||||
Shares sold | 194,587 | 662,408 | $7,943,864 | $25,703,152 |
Reinvestment of distributions | 29,115 | 46,957 | 1,125,304 | 1,773,567 |
Shares redeemed | (488,152) | (1,329,293) | (19,774,732) | (50,167,462) |
Net increase (decrease) | (264,450) | (619,928) | $(10,705,564) | $(22,690,743) |
Class I | ||||
Shares sold | 4,006,242 | 5,904,399 | $191,298,602 | $264,297,953 |
Reinvestment of distributions | 226,380 | 282,440 | 10,144,089 | 12,342,610 |
Shares redeemed | (4,234,809) | (8,165,711) | (196,931,026) | (357,278,979) |
Net increase (decrease) | (2,187) | (1,978,872) | $4,511,665 | $(80,638,416) |
Class Z | ||||
Shares sold | 1,163,278 | 3,968,517 | $56,433,731 | $175,402,328 |
Reinvestment of distributions | 42,781 | 162,239 | 1,913,609 | 7,071,987 |
Shares redeemed | (4,693,239) | (4,835,412) | (223,400,891) | (211,058,509) |
Net increase (decrease) | (3,487,180) | (704,656) | $(165,053,551) | $(28,584,194) |
Fidelity Advisor Financials Fund | ||||
Class A | ||||
Shares sold | 377,635 | 1,007,482 | $9,740,590 | $25,570,300 |
Reinvestment of distributions | 136,530 | 408,292 | 3,770,958 | 9,950,068 |
Shares redeemed | (774,601) | (2,063,576) | (19,715,949) | (51,294,760) |
Net increase (decrease) | (260,436) | (647,802) | $(6,204,401) | $(15,774,392) |
Class M | ||||
Shares sold | 93,868 | 382,498 | $2,458,268 | $9,695,969 |
Reinvestment of distributions | 49,122 | 150,930 | 1,340,046 | 3,634,395 |
Shares redeemed | (264,864) | (663,018) | (6,648,514) | (16,163,119) |
Net increase (decrease) | (121,874) | (129,590) | $(2,850,200) | $(2,832,755) |
Class C | ||||
Shares sold | 47,180 | 158,220 | $1,154,119 | $3,741,582 |
Reinvestment of distributions | 22,503 | 121,519 | 577,888 | 2,753,627 |
Shares redeemed | (396,918) | (931,916) | (9,321,137) | (21,566,685) |
Net increase (decrease) | (327,235) | (652,177) | $(7,589,130) | $(15,071,476) |
Class I | ||||
Shares sold | 1,069,099 | 1,989,855 | $27,832,076 | $52,766,831 |
Reinvestment of distributions | 87,544 | 277,356 | 2,502,894 | 6,989,374 |
Shares redeemed | (1,565,280) | (2,968,307) | (40,488,740) | (75,651,884) |
Net increase (decrease) | (408,637) | (701,096) | $(10,153,770) | $(15,895,679) |
Class Z | ||||
Shares sold | 974,352 | 3,844,623 | $27,188,495 | $99,675,825 |
Reinvestment of distributions | 14,544 | 239,686 | 415,095 | 6,020,924 |
Shares redeemed | (2,781,895) | (3,116,457) | (70,754,153) | (79,345,103) |
Net increase (decrease) | (1,792,999) | 967,852 | $(43,150,563) | $26,351,646 |
Fidelity Advisor Health Care Fund | ||||
Class A | ||||
Shares sold | 1,414,516 | 3,952,012 | $80,365,020 | $229,948,864 |
Shares redeemed | (3,031,248) | (4,091,037) | (171,292,309) | (237,824,749) |
Net increase (decrease) | (1,616,732) | (139,025) | $(90,927,289) | $(7,875,885) |
Class M | ||||
Shares sold | 117,536 | 323,729 | $6,142,345 | $17,197,627 |
Shares redeemed | (453,074) | (798,274) | (23,398,439) | (42,502,451) |
Net increase (decrease) | (335,538) | (474,545) | $(17,256,094) | $(25,304,824) |
Class C | ||||
Shares sold | 196,036 | 724,395 | $8,317,894 | $31,252,102 |
Shares redeemed | (1,785,189) | (4,142,787) | (74,884,674) | (179,275,708) |
Net increase (decrease) | (1,589,153) | (3,418,392) | $(66,566,780) | $(148,023,606) |
Class I | ||||
Shares sold | 2,640,583 | 7,285,756 | $166,645,986 | $469,523,346 |
Shares redeemed | (9,379,649) | (11,196,061) | (587,738,691) | (721,560,464) |
Net increase (decrease) | (6,739,066) | (3,910,305) | $(421,092,705) | $(252,037,118) |
Class Z | ||||
Shares sold | 1,481,518 | 5,264,645 | $93,821,273 | $334,148,597 |
Shares redeemed | (5,369,713) | (5,098,057) | (332,821,099) | (326,368,763) |
Net increase (decrease) | (3,888,195) | 166,588 | $(238,999,826) | $7,779,834 |
Fidelity Advisor Industrials Fund | ||||
Class A | ||||
Shares sold | 347,481 | 406,707 | $12,883,414 | $14,207,996 |
Reinvestment of distributions | 476,633 | 199,881 | 18,092,981 | 6,692,020 |
Shares redeemed | (457,145) | (1,106,776) | (17,188,671) | (38,331,064) |
Net increase (decrease) | 366,969 | (500,188) | $13,787,724 | $(17,431,048) |
Class M | ||||
Shares sold | 98,790 | 126,166 | $3,638,107 | $4,217,090 |
Reinvestment of distributions | 130,912 | 51,559 | 4,766,508 | 1,664,332 |
Shares redeemed | (103,811) | (241,056) | (3,772,832) | (8,188,209) |
Net increase (decrease) | 125,891 | (63,331) | $4,631,783 | $(2,306,787) |
Class C | ||||
Shares sold | 74,233 | 76,596 | $2,344,233 | $2,255,873 |
Reinvestment of distributions | 101,765 | 49,445 | 3,132,328 | 1,376,542 |
Shares redeemed | (174,649) | (403,651) | (5,385,409) | (11,609,090) |
Net increase (decrease) | 1,349 | (277,610) | $91,152 | $(7,976,675) |
Class I | ||||
Shares sold | 913,227 | 1,580,336 | $37,299,325 | $62,430,757 |
Reinvestment of distributions | 219,293 | 106,079 | 9,085,300 | 3,845,348 |
Shares redeemed | (1,349,063) | (2,324,872) | (54,743,716) | (89,149,470) |
Net increase (decrease) | (216,543) | (638,457) | $(8,359,091) | $(22,873,365) |
Class Z | ||||
Shares sold | 352,060 | 2,596,658 | $14,502,094 | $89,451,331 |
Reinvestment of distributions | 62,886 | 86,441 | 2,604,125 | 3,128,307 |
Shares redeemed | (1,990,575) | (883,875) | (81,065,686) | (33,054,547) |
Net increase (decrease) | (1,575,629) | 1,799,224 | $(63,959,467) | $59,525,091 |
Fidelity Advisor Semiconductors Fund | ||||
Class A | ||||
Shares sold | 1,975,940 | 3,139,559 | $115,053,135 | $151,745,716 |
Reinvestment of distributions | 344,838 | 219,674 | 20,876,501 | 8,824,286 |
Shares redeemed | (922,144) | (1,450,894) | (53,339,721) | (63,995,324) |
Net increase (decrease) | 1,398,634 | 1,908,339 | $82,589,915 | $96,574,678 |
Class M | ||||
Shares sold | 269,803 | 543,026 | $14,868,060 | $24,086,971 |
Reinvestment of distributions | 61,148 | 37,061 | 3,458,547 | 1,398,675 |
Shares redeemed | (103,377) | (168,156) | (5,660,310) | (6,902,970) |
Net increase (decrease) | 227,574 | 411,931 | $12,666,297 | $18,582,676 |
Class C | ||||
Shares sold | 496,509 | 750,418 | $23,473,123 | $29,626,090 |
Reinvestment of distributions | 113,850 | 88,413 | 5,527,406 | 2,894,656 |
Shares redeemed | (314,567) | (784,500) | (14,674,709) | (28,516,396) |
Net increase (decrease) | 295,792 | 54,331 | $14,325,820 | $4,004,350 |
Class I | ||||
Shares sold | 2,512,658 | 4,070,496 | $157,578,025 | $212,088,692 |
Reinvestment of distributions | 273,927 | 177,505 | 17,923,026 | 7,666,452 |
Shares redeemed | (1,330,316) | (3,061,827) | (82,889,751) | (145,241,848) |
Net increase (decrease) | 1,456,269 | 1,186,174 | $92,611,300 | $74,513,296 |
Class Z | ||||
Shares sold | 640,479 | 773,142 | $40,411,054 | $40,811,429 |
Reinvestment of distributions | 44,183 | 20,319 | 2,895,741 | 877,292 |
Shares redeemed | (321,370) | (402,594) | (19,913,021) | (18,621,247) |
Net increase (decrease) | 363,292 | 390,867 | $23,393,774 | $23,067,474 |
Fidelity Advisor Technology Fund | ||||
Class A | ||||
Shares sold | 1,578,220 | 2,719,769 | $145,125,907 | $206,725,335 |
Reinvestment of distributions | 764,238 | 628,818 | 72,564,339 | 42,658,884 |
Shares redeemed | (1,416,008) | (2,778,801) | (130,039,971) | (202,519,149) |
Net increase (decrease) | 926,450 | 569,786 | $87,650,275 | $46,865,070 |
Class M | ||||
Shares sold | 565,218 | 889,665 | $47,359,150 | $63,637,995 |
Reinvestment of distributions | 307,072 | 252,456 | 26,518,754 | 15,667,387 |
Shares redeemed | (559,918) | (949,000) | (47,014,969) | (63,257,879) |
Net increase (decrease) | 312,372 | 193,121 | $26,862,935 | $16,047,503 |
Class C | ||||
Shares sold | 393,014 | 560,367 | $27,063,696 | $32,443,071 |
Reinvestment of distributions | 217,845 | 213,030 | 15,194,658 | 10,843,236 |
Shares redeemed | (690,541) | (1,383,227) | (47,154,774) | (76,050,104) |
Net increase (decrease) | (79,682) | (609,830) | $(4,896,420) | $(32,763,797) |
Class I | ||||
Shares sold | 4,463,022 | 4,444,591 | $455,918,062 | $375,313,502 |
Reinvestment of distributions | 518,428 | 387,393 | 55,528,866 | 29,507,702 |
Shares redeemed | (3,851,352) | (4,072,906) | (392,164,245) | (338,992,438) |
Net increase (decrease) | 1,130,098 | 759,078 | $119,282,683 | $65,828,766 |
Class Z | ||||
Shares sold | 1,744,717 | 3,452,388 | $179,636,107 | $279,946,819 |
Reinvestment of distributions | 147,530 | 169,093 | 15,797,497 | 12,873,087 |
Shares redeemed | (3,845,158) | (2,016,130) | (384,846,254) | (167,266,551) |
Net increase (decrease) | (1,952,911) | 1,605,351 | $(189,412,650) | $125,553,355 |
Fidelity Advisor Utilities Fund | ||||
Class A | ||||
Shares sold | 479,564 | 2,215,949 | $16,917,971 | $84,107,146 |
Reinvestment of distributions | 208,949 | 413,410 | 7,362,079 | 15,411,688 |
Shares redeemed | (1,115,740) | (1,942,608) | (39,113,288) | (72,156,394) |
Net increase (decrease) | (427,227) | 686,751 | $(14,833,238) | $27,362,440 |
Class M | ||||
Shares sold | 66,318 | 249,639 | $2,336,599 | $9,574,291 |
Reinvestment of distributions | 41,401 | 83,223 | 1,466,793 | 3,114,610 |
Shares redeemed | (206,678) | (294,172) | (7,304,876) | (10,991,952) |
Net increase (decrease) | (98,959) | 38,690 | $(3,501,484) | $1,696,949 |
Class C | ||||
Shares sold | 153,783 | 551,415 | $5,251,394 | $20,505,123 |
Reinvestment of distributions | 32,706 | 70,929 | 1,130,476 | 2,585,729 |
Shares redeemed | (322,790) | (600,716) | (11,089,851) | (21,673,319) |
Net increase (decrease) | (136,301) | 21,628 | $(4,707,981) | $1,417,533 |
Class I | ||||
Shares sold | 688,243 | 4,966,694 | $24,917,967 | $194,190,345 |
Reinvestment of distributions | 136,677 | 377,332 | 4,926,349 | 14,409,343 |
Shares redeemed | (2,481,290) | (5,296,143) | (89,431,874) | (200,737,485) |
Net increase (decrease) | (1,656,370) | 47,883 | $(59,587,558) | $7,862,203 |
Class Z | ||||
Shares sold | 786,388 | 2,267,279 | $28,115,065 | $86,908,960 |
Reinvestment of distributions | 44,201 | 135,003 | 1,578,440 | 5,151,177 |
Shares redeemed | (1,836,628) | (2,167,228) | (66,256,870) | (82,982,143) |
Net increase (decrease) | (1,006,039) | 235,054 | $(36,563,365) | $9,077,994 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity Advisor® Biotechnology Fund | ||||||||||
Class A | 1.00% | |||||||||
Actual | $ 1,000 | $ 1,138.30 | $ 5.37 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.11 | $ 5.08 | |||||||
Class M | 1.27% | |||||||||
Actual | $ 1,000 | $ 1,137.00 | $ 6.82 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.75 | $ 6.44 | |||||||
Class C | 1.76% | |||||||||
Actual | $ 1,000 | $ 1,133.70 | $ 9.44 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.29 | $ 8.92 | |||||||
Class I | .73% | |||||||||
Actual | $ 1,000 | $ 1,140.00 | $ 3.93 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.47 | $ 3.71 | |||||||
Class Z ** | .60% | |||||||||
Actual | $ 1,000 | $ 1,140.40 | $ 3.23 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.12 | $ 3.05 | |||||||
Fidelity Advisor® Consumer Discretionary Fund | ||||||||||
Class A | 1.03% | |||||||||
Actual | $ 1,000 | $ 1,027.30 | $ 5.25 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.96 | $ 5.23 | |||||||
Class M | 1.29% | |||||||||
Actual | $ 1,000 | $ 1,025.90 | $ 6.57 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.65 | $ 6.55 | |||||||
Class C | 1.79% | |||||||||
Actual | $ 1,000 | $ 1,023.30 | $ 9.10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.14 | $ 9.07 | |||||||
Class I ** | .76% | |||||||||
Actual | $ 1,000 | $ 1,028.60 | $ 3.88 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.32 | $ 3.86 | |||||||
Class Z ** | .63% | |||||||||
Actual | $ 1,000 | $ 1,029.20 | $ 3.21 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.97 | $ 3.20 | |||||||
Fidelity Advisor® Energy Fund | ||||||||||
Class A | 1.01% | |||||||||
Actual | $ 1,000 | $ 967.70 | $ 5.00 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.06 | $ 5.13 | |||||||
Class M | 1.26% | |||||||||
Actual | $ 1,000 | $ 966.50 | $ 6.23 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.80 | $ 6.39 | |||||||
Class C | 1.75% | |||||||||
Actual | $ 1,000 | $ 964.30 | $ 8.64 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.34 | $ 8.87 | |||||||
Class I | .73% | |||||||||
Actual | $ 1,000 | $ 969.20 | $ 3.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.47 | $ 3.71 | |||||||
Class Z ** | .60% | |||||||||
Actual | $ 1,000 | $ 969.80 | $ 2.97 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.12 | $ 3.05 | |||||||
Fidelity Advisor® Financials Fund | ||||||||||
Class A | 1.05% | |||||||||
Actual | $ 1,000 | $ 1,112.10 | $ 5.57 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.86 | $ 5.33 | |||||||
Class M | 1.29% | |||||||||
Actual | $ 1,000 | $ 1,111.20 | $ 6.85 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.65 | $ 6.55 | |||||||
Class C | 1.80% | |||||||||
Actual | $ 1,000 | $ 1,108.40 | $ 9.54 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.09 | $ 9.12 | |||||||
Class I ** | .78% | |||||||||
Actual | $ 1,000 | $ 1,113.50 | $ 4.14 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.22 | $ 3.96 | |||||||
Class Z ** | .64% | |||||||||
Actual | $ 1,000 | $ 1,114.70 | $ 3.40 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.92 | $ 3.25 | |||||||
Fidelity Advisor® Health Care Fund | ||||||||||
Class A | .97% | |||||||||
Actual | $ 1,000 | $ 1,009.20 | $ 4.90 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.26 | $ 4.93 | |||||||
Class M | 1.22% | |||||||||
Actual | $ 1,000 | $ 1,008.10 | $ 6.16 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.00 | $ 6.19 | |||||||
Class C | 1.72% | |||||||||
Actual | $ 1,000 | $ 1,005.60 | $ 8.67 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.49 | $ 8.72 | |||||||
Class I | .71% | |||||||||
Actual | $ 1,000 | $ 1,010.70 | $ 3.59 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.57 | $ 3.61 | |||||||
Class Z ** | .58% | |||||||||
Actual | $ 1,000 | $ 1,011.30 | $ 2.93 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.22 | $ 2.95 | |||||||
Fidelity Advisor® Industrials Fund | ||||||||||
Class A | 1.03% | |||||||||
Actual | $ 1,000 | $ 1,057.10 | $ 5.33 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.96 | $ 5.23 | |||||||
Class M | 1.28% | |||||||||
Actual | $ 1,000 | $ 1,056.00 | $ 6.62 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.70 | $ 6.50 | |||||||
Class C | 1.78% | |||||||||
Actual | $ 1,000 | $ 1,053.00 | $ 9.19 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.19 | $ 9.02 | |||||||
Class I ** | .76% | |||||||||
Actual | $ 1,000 | $ 1,058.60 | $ 3.93 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.32 | $ 3.86 | |||||||
Class Z ** | .63% | |||||||||
Actual | $ 1,000 | $ 1,059.20 | $ 3.26 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.97 | $ 3.20 | |||||||
Fidelity Advisor® Semiconductors Fund | ||||||||||
Class A | .99% | |||||||||
Actual | $ 1,000 | $ 1,065.10 | $ 5.14 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.16 | $ 5.03 | |||||||
Class M | 1.22% | |||||||||
Actual | $ 1,000 | $ 1,063.70 | $ 6.33 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.00 | $ 6.19 | |||||||
Class C | 1.74% | |||||||||
Actual | $ 1,000 | $ 1,060.90 | $ 9.01 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.39 | $ 8.82 | |||||||
Class I | .73% | |||||||||
Actual | $ 1,000 | $ 1,066.40 | $ 3.79 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.47 | $ 3.71 | |||||||
Class Z ** | .61% | |||||||||
Actual | $ 1,000 | $ 1,067.10 | $ 3.17 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.07 | $ 3.10 | |||||||
Fidelity Advisor® Technology Fund | ||||||||||
Class A | .96% | |||||||||
Actual | $ 1,000 | $ 1,074.90 | $ 5.01 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.31 | $ 4.88 | |||||||
Class M | 1.21% | |||||||||
Actual | $ 1,000 | $ 1,073.70 | $ 6.31 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.05 | $ 6.14 | |||||||
Class C | 1.73% | |||||||||
Actual | $ 1,000 | $ 1,070.90 | $ 9.01 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.44 | $ 8.77 | |||||||
Class I | .70% | |||||||||
Actual | $ 1,000 | $ 1,076.40 | $ 3.65 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.62 | $ 3.56 | |||||||
Class Z ** | .58% | |||||||||
Actual | $ 1,000 | $ 1,077.00 | $ 3.03 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.22 | $ 2.95 | |||||||
Fidelity Advisor® Utilities Fund | ||||||||||
Class A | 1.02% | |||||||||
Actual | $ 1,000 | $ 957.40 | $ 5.02 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.01 | $ 5.18 | |||||||
Class M | 1.28% | |||||||||
Actual | $ 1,000 | $ 956.30 | $ 6.29 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.70 | $ 6.50 | |||||||
Class C | 1.77% | |||||||||
Actual | $ 1,000 | $ 953.90 | $ 8.69 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.24 | $ 8.97 | |||||||
Class I | .75% | |||||||||
Actual | $ 1,000 | $ 958.90 | $ 3.69 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.37 | $ 3.81 | |||||||
Class Z | .62% | |||||||||
Actual | $ 1,000 | $ 959.40 | $ 3.05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.02 | $ 3.15 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity Advisor® Biotechnology Fund | ||||||
Class Z | .56% | |||||
Actual | $ 3.01 | |||||
Hypothetical- B | $ 2.85 | |||||
Fidelity Advisor® Consumer Discretionary Fund | ||||||
Class I | .72% | |||||
Actual | $ 3.67 | |||||
Hypothetical- B | $ 3.66 | |||||
Class Z | .59% | |||||
Actual | $ 3.01 | |||||
Hypothetical- B | $ 3.00 | |||||
Fidelity Advisor® Energy Fund | ||||||
Class Z | .57% | |||||
Actual | $ 2.82 | |||||
Hypothetical- B | $ 2.90 | |||||
Fidelity Advisor® Financials Fund | ||||||
Class I | .73% | |||||
Actual | $ 3.88 | |||||
Hypothetical- B | $ 3.71 | |||||
Class Z | .60% | |||||
Actual | $ 3.19 | |||||
Hypothetical- B | $ 3.05 | |||||
Fidelity Advisor® Health Care Fund | ||||||
Class Z | .55% | |||||
Actual | $ 2.78 | |||||
Hypothetical- B | $ 2.80 | |||||
Fidelity Advisor® Industrials Fund | ||||||
Class I | .72% | |||||
Actual | $ 3.73 | |||||
Hypothetical- B | $ 3.66 | |||||
Class Z | .56% | |||||
Actual | $ 2.90 | |||||
Hypothetical- B | $ 2.85 | |||||
Fidelity Advisor® Semiconductors Fund | ||||||
Class Z | .57% | |||||
Actual | $ 2.96 | |||||
Hypothetical- B | $ 2.90 | |||||
Fidelity Advisor® Technology Fund | ||||||
Class Z | .55% | |||||
Actual | $ 2.87 | |||||
Hypothetical- B | $ 2.80 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Prologis, Inc. | 11.8 | |
Equinix, Inc. | 7.9 | |
Crown Castle, Inc. | 7.8 | |
American Tower Corp. | 5.6 | |
Ventas, Inc. | 5.3 | |
CubeSmart | 5.2 | |
CBRE Group, Inc. | 4.7 | |
Digital Realty Trust, Inc. | 4.0 | |
Mid-America Apartment Communities, Inc. | 3.5 | |
Welltower, Inc. | 3.4 | |
59.2 | ||
Top REIT Sectors (% of Fund's net assets) | ||
REITs - Diversified | 21.6 | |
REITs - Warehouse/Industrial | 17.5 | |
REITs - Apartments | 11.0 | |
REITs - Health Care | 8.7 | |
REITs - Management/Investment | 7.5 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 99.3% | |||
Shares | Value ($) | ||
Equity Real Estate Investment Trusts (REITs) - 92.5% | |||
REITs - Apartments - 11.0% | |||
Essex Property Trust, Inc. | 32,147 | 7,498,931 | |
Invitation Homes, Inc. | 167,300 | 5,509,189 | |
Mid-America Apartment Communities, Inc. | 65,700 | 8,303,166 | |
UDR, Inc. | 123,200 | 4,437,664 | |
25,748,950 | |||
REITs - Diversified - 21.6% | |||
Crown Castle, Inc. | 167,700 | 18,153,525 | |
Digital Realty Trust, Inc. | 66,600 | 9,354,636 | |
Equinix, Inc. | 22,300 | 18,503,871 | |
Lamar Advertising Co. Class A | 33,900 | 3,548,652 | |
Outfront Media, Inc. | 71,600 | 932,232 | |
50,492,916 | |||
REITs - Health Care - 8.7% | |||
Ventas, Inc. | 267,205 | 12,395,640 | |
Welltower, Inc. | 92,500 | 8,002,175 | |
20,397,815 | |||
REITs - Hotels - 2.8% | |||
Ryman Hospitality Properties, Inc. | 59,700 | 6,561,030 | |
REITs - Management/Investment - 7.5% | |||
American Tower Corp. | 66,500 | 13,010,725 | |
NNN (REIT), Inc. | 113,500 | 4,578,590 | |
17,589,315 | |||
REITs - Manufactured Homes - 3.0% | |||
Equity Lifestyle Properties, Inc. | 99,606 | 6,742,330 | |
Sun Communities, Inc. | 1,800 | 225,630 | |
6,967,960 | |||
REITs - Office Property - 2.3% | |||
Alexandria Real Estate Equities, Inc. | 33,300 | 4,025,970 | |
Douglas Emmett, Inc. (a) | 98,300 | 1,331,965 | |
5,357,935 | |||
REITs - Regional Malls - 1.6% | |||
Tanger, Inc. | 141,000 | 3,792,900 | |
REITs - Shopping Centers - 5.5% | |||
Kite Realty Group Trust | 72,500 | 1,551,500 | |
SITE Centers Corp. | 495,800 | 6,604,056 | |
Urban Edge Properties | 263,100 | 4,543,737 | |
12,699,293 | |||
REITs - Single Tenant - 3.9% | |||
Four Corners Property Trust, Inc. | 276,900 | 6,482,229 | |
NETSTREIT Corp. (a) | 138,600 | 2,518,362 | |
9,000,591 | |||
REITs - Storage - 7.1% | |||
CubeSmart | 281,000 | 12,144,820 | |
Extra Space Storage, Inc. | 30,400 | 4,390,976 | |
16,535,796 | |||
REITs - Warehouse/Industrial - 17.5% | |||
Americold Realty Trust | 231,900 | 6,377,250 | |
EastGroup Properties, Inc. | 19,500 | 3,459,885 | |
Prologis, Inc. | 216,916 | 27,481,088 | |
Terreno Realty Corp. | 60,700 | 3,625,611 | |
40,943,834 | |||
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS) | 216,088,335 | ||
Real Estate Management & Development - 6.8% | |||
Real Estate Services - 6.8% | |||
CBRE Group, Inc. (b) | 125,700 | 10,849,167 | |
CoStar Group, Inc. (b) | 60,000 | 5,008,800 | |
15,857,967 | |||
TOTAL COMMON STOCKS (Cost $188,155,538) | 231,946,302 | ||
Money Market Funds - 1.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) | 1,041,883 | 1,042,091 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 3,354,940 | 3,355,275 | |
TOTAL MONEY MARKET FUNDS (Cost $4,397,366) | 4,397,366 | ||
TOTAL INVESTMENT IN SECURITIES - 101.2% (Cost $192,552,904) | 236,343,668 |
NET OTHER ASSETS (LIABILITIES) - (1.2)% | (2,735,326) |
NET ASSETS - 100.0% | 233,608,342 |
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 3,119,380 | 31,280,241 | 33,357,530 | 26,452 | - | - | 1,042,091 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 478,200 | 3,782,688 | 905,613 | 2,220 | - | - | 3,355,275 | 0.0% |
Total | 3,597,580 | 35,062,929 | 34,263,143 | 28,672 | - | - | 4,397,366 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 231,946,302 | 231,946,302 | - | - |
Money Market Funds | 4,397,366 | 4,397,366 | - | - |
Total Investments in Securities: | 236,343,668 | 236,343,668 | - | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $3,208,008) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $188,155,538) | $ | 231,946,302 | ||
Fidelity Central Funds (cost $4,397,366) | 4,397,366 | |||
Total Investment in Securities (cost $192,552,904) | $ | 236,343,668 | ||
Receivable for investments sold | 421,900 | |||
Receivable for fund shares sold | 1,208,902 | |||
Dividends receivable | 216,898 | |||
Distributions receivable from Fidelity Central Funds | 5,189 | |||
Prepaid expenses | 1,129 | |||
Other receivables | 95,055 | |||
Total assets | 238,292,741 | |||
Liabilities | ||||
Payable for investments purchased | $ | 448,441 | ||
Payable for fund shares redeemed | 544,522 | |||
Accrued management fee | 104,301 | |||
Distribution and service plan fees payable | 56,630 | |||
Other affiliated payables | 45,972 | |||
Other payables and accrued expenses | 129,258 | |||
Collateral on securities loaned | 3,355,275 | |||
Total Liabilities | 4,684,399 | |||
Net Assets | $ | 233,608,342 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 199,468,190 | ||
Total accumulated earnings (loss) | 34,140,152 | |||
Net Assets | $ | 233,608,342 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($83,170,288 ÷ 5,206,422 shares)(a) | $ | 15.97 | ||
Maximum offering price per share (100/94.25 of $15.97) | $ | 16.94 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($78,826,612 ÷ 4,960,705 shares)(a) | $ | 15.89 | ||
Maximum offering price per share (100/96.50 of $15.89) | $ | 16.47 | ||
Class C : | ||||
Net Asset Value and offering price per share ($5,557,980 ÷ 367,435 shares)(a) | $ | 15.13 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($60,265,548 ÷ 3,705,259 shares) | $ | 16.26 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($5,787,914 ÷ 356,246 shares) | $ | 16.25 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 3,575,757 | ||
Income from Fidelity Central Funds (including $2,220 from security lending) | 28,672 | |||
Total Income | 3,604,429 | |||
Expenses | ||||
Management fee | $ | 612,529 | ||
Transfer agent fees | 244,453 | |||
Distribution and service plan fees | 329,267 | |||
Accounting fees | 41,496 | |||
Custodian fees and expenses | 7,195 | |||
Independent trustees' fees and expenses | 702 | |||
Registration fees | 46,848 | |||
Audit | 28,155 | |||
Legal | 370 | |||
Miscellaneous | 841 | |||
Total expenses before reductions | 1,311,856 | |||
Expense reductions | (10,328) | |||
Total expenses after reductions | 1,301,528 | |||
Net Investment income (loss) | 2,302,901 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (362,656) | |||
Total net realized gain (loss) | (362,656) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (2,762,672) | |||
Net gain (loss) | (3,125,328) | |||
Net increase (decrease) in net assets resulting from operations | $ | (822,427) |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,302,901 | $ | 5,878,612 |
Net realized gain (loss) | (362,656) | (4,606,425) | ||
Change in net unrealized appreciation (depreciation) | (2,762,672) | (51,993,325) | ||
Net increase (decrease) in net assets resulting from operations | (822,427) | (50,721,138) | ||
Distributions to shareholders | (4,260,352) | (43,497,468) | ||
Share transactions - net increase (decrease) | (19,926,803) | (57,482,753) | ||
Total increase (decrease) in net assets | (25,009,582) | (151,701,359) | ||
Net Assets | ||||
Beginning of period | 258,617,924 | 410,319,283 | ||
End of period | $ | 233,608,342 | $ | 258,617,924 |
Fidelity Advisor® Real Estate Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.24 | $ | 21.95 | $ | 24.66 | $ | 19.62 | $ | 22.91 | $ | 22.07 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .15 | .34 | .22 | .26 | .41 | .37 | ||||||
Net realized and unrealized gain (loss) | (.14) | (3.09) | (1.47) | 5.50 | (1.91) | 1.63 | ||||||
Total from investment operations | .01 | (2.75) | (1.25) | 5.76 | (1.50) | 2.00 | ||||||
Distributions from net investment income | (.28) | (.26) | (.17) | (.24) | (.38) | (.43) | ||||||
Distributions from net realized gain | - | (2.69) | (1.30) | (.48) | (1.41) | (.73) | ||||||
Total distributions | (.28) | (2.96) C | (1.46) C | (.72) | (1.79) | (1.16) | ||||||
Net asset value, end of period | $ | 15.97 | $ | 16.24 | $ | 21.95 | $ | 24.66 | $ | 19.62 | $ | 22.91 |
Total Return D,E,F | .08% | (11.70)% | (5.65)% | 30.38% | (7.21)% | 9.62% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.11% I | 1.11% | 1.07% | 1.09% | 1.10% | 1.10% | ||||||
Expenses net of fee waivers, if any | 1.11% I | 1.10% | 1.07% | 1.09% | 1.10% | 1.09% | ||||||
Expenses net of all reductions | 1.11% I | 1.10% | 1.07% | 1.08% | 1.09% | 1.09% | ||||||
Net investment income (loss) | 1.97% I | 1.96% | .95% | 1.24% | 1.93% | 1.68% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 83,170 | $ | 91,784 | $ | 122,949 | $ | 138,134 | $ | 115,736 | $ | 151,536 |
Portfolio turnover rate J | 28% I | 31% | 48% | 53% | 56% | 49% |
Fidelity Advisor® Real Estate Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.16 | $ | 21.87 | $ | 24.59 | $ | 19.58 | $ | 22.87 | $ | 22.05 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .13 | .30 | .17 | .21 | .36 | .32 | ||||||
Net realized and unrealized gain (loss) | (.13) | (3.08) | (1.46) | 5.49 | (1.90) | 1.62 | ||||||
Total from investment operations | - C | (2.78) | (1.29) | 5.70 | (1.54) | 1.94 | ||||||
Distributions from net investment income | (.27) | (.24) | (.13) | (.22) | (.34) | (.39) | ||||||
Distributions from net realized gain | - | (2.69) | (1.30) | (.48) | (1.41) | (.73) | ||||||
Total distributions | (.27) | (2.93) | (1.43) | (.69) D | (1.75) | (1.12) | ||||||
Net asset value, end of period | $ | 15.89 | $ | 16.16 | $ | 21.87 | $ | 24.59 | $ | 19.58 | $ | 22.87 |
Total Return E,F,G | (.04)% | (11.87)% | (5.83)% | 30.14% | (7.42)% | 9.35% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.34% J | 1.31% | 1.29% | 1.31% | 1.31% | 1.32% | ||||||
Expenses net of fee waivers, if any | 1.33% J | 1.31% | 1.28% | 1.31% | 1.31% | 1.31% | ||||||
Expenses net of all reductions | 1.33% J | 1.31% | 1.28% | 1.30% | 1.30% | 1.31% | ||||||
Net investment income (loss) | 1.75% J | 1.75% | .73% | 1.03% | 1.71% | 1.46% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 78,827 | $ | 84,126 | $ | 100,892 | $ | 118,778 | $ | 98,724 | $ | 128,754 |
Portfolio turnover rate K | 28% J | 31% | 48% | 53% | 56% | 49% |
Fidelity Advisor® Real Estate Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.38 | $ | 21.00 | $ | 23.74 | $ | 18.97 | $ | 22.26 | $ | 21.54 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 | .20 | .03 | .09 | .23 | .19 | ||||||
Net realized and unrealized gain (loss) | (.13) | (2.97) | (1.39) | 5.30 | (1.85) | 1.58 | ||||||
Total from investment operations | (.04) | (2.77) | (1.36) | 5.39 | (1.62) | 1.77 | ||||||
Distributions from net investment income | (.21) | (.16) | (.08) | (.15) | (.26) | (.32) | ||||||
Distributions from net realized gain | - | (2.69) | (1.30) | (.48) | (1.41) | (.73) | ||||||
Total distributions | (.21) | (2.85) | (1.38) | (.62) C | (1.67) | (1.05) | ||||||
Net asset value, end of period | $ | 15.13 | $ | 15.38 | $ | 21.00 | $ | 23.74 | $ | 18.97 | $ | 22.26 |
Total Return D,E,F | (.25)% | (12.38)% | (6.35)% | 29.36% | (7.95)% | 8.72% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.86% I | 1.87% | 1.86% | 1.88% | 1.89% | 1.88% | ||||||
Expenses net of fee waivers, if any | 1.86% I | 1.86% | 1.86% | 1.88% | 1.89% | 1.88% | ||||||
Expenses net of all reductions | 1.86% I | 1.86% | 1.86% | 1.87% | 1.88% | 1.88% | ||||||
Net investment income (loss) | 1.22% I | 1.20% | .15% | .46% | 1.14% | .89% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 5,558 | $ | 6,937 | $ | 12,375 | $ | 16,069 | $ | 20,774 | $ | 28,982 |
Portfolio turnover rate J | 28% I | 31% | 48% | 53% | 56% | 49% |
Fidelity Advisor® Real Estate Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.54 | $ | 22.26 | $ | 24.96 | $ | 19.84 | $ | 23.15 | $ | 22.28 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .18 | .40 | .27 | .31 | .46 | .43 | ||||||
Net realized and unrealized gain (loss) | (.15) | (3.14) | (1.48) | 5.56 | (1.92) | 1.65 | ||||||
Total from investment operations | .03 | (2.74) | (1.21) | 5.87 | (1.46) | 2.08 | ||||||
Distributions from net investment income | (.31) | (.29) | (.19) | (.27) | (.44) | (.48) | ||||||
Distributions from net realized gain | - | (2.69) | (1.30) | (.48) | (1.41) | (.73) | ||||||
Total distributions | (.31) | (2.98) | (1.49) | (.75) | (1.85) | (1.21) | ||||||
Net asset value, end of period | $ | 16.26 | $ | 16.54 | $ | 22.26 | $ | 24.96 | $ | 19.84 | $ | 23.15 |
Total Return C,D | .18% | (11.43)% | (5.43)% | 30.65% | (6.99)% | 9.93% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .82% G | .84% | .86% | .88% | .86% | .81% | ||||||
Expenses net of fee waivers, if any | .81% G | .83% | .86% | .87% | .86% | .81% | ||||||
Expenses net of all reductions | .81% G | .83% | .86% | .87% | .85% | .81% | ||||||
Net investment income (loss) | 2.26% G | 2.23% | 1.15% | 1.46% | 2.17% | 1.96% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 60,266 | $ | 69,081 | $ | 160,565 | $ | 197,873 | $ | 180,346 | $ | 225,407 |
Portfolio turnover rate H | 28% G | 31% | 48% | 53% | 56% | 49% |
Fidelity Advisor® Real Estate Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.52 | $ | 22.29 | $ | 24.97 | $ | 19.85 | $ | 23.16 | $ | 21.91 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .19 | .43 | .33 | .36 | .50 | .40 | ||||||
Net realized and unrealized gain (loss) | (.13) | (3.15) | (1.48) | 5.56 | (1.92) | 1.94 | ||||||
Total from investment operations | .06 | (2.72) | (1.15) | 5.92 | (1.42) | 2.34 | ||||||
Distributions from net investment income | (.33) | (.36) | (.23) | (.32) | (.48) | (.36) | ||||||
Distributions from net realized gain | - | (2.69) | (1.30) | (.48) | (1.41) | (.73) | ||||||
Total distributions | (.33) | (3.05) | (1.53) | (.80) | (1.89) | (1.09) | ||||||
Net asset value, end of period | $ | 16.25 | $ | 16.52 | $ | 22.29 | $ | 24.97 | $ | 19.85 | $ | 23.16 |
Total Return D,E | .34% | (11.30)% | (5.21)% | 30.95% | (6.80)% | 11.22% | ||||||
Ratios to Average Net Assets C,F,G | ||||||||||||
Expenses before reductions | .67% H | .65% | .64% | .64% | .65% | .65% H | ||||||
Expenses net of fee waivers, if any | .66% H | .65% | .63% | .64% | .65% | .64% H | ||||||
Expenses net of all reductions | .66% H | .65% | .63% | .64% | .64% | .64% H | ||||||
Net investment income (loss) | 2.41% H | 2.41% | 1.38% | 1.69% | 2.38% | 2.20% H | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 5,788 | $ | 6,690 | $ | 13,539 | $ | 16,573 | $ | 9,157 | $ | 6,634 |
Portfolio turnover rate I | 28% H | 31% | 48% | 53% | 56% | 49% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Advisor Real Estate Fund | $95,055 |
Gross unrealized appreciation | $59,160,577 |
Gross unrealized depreciation | (16,288,648) |
Net unrealized appreciation (depreciation) | $42,871,929 |
Tax cost | $193,471,739 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Real Estate Fund | 33,220,658 | 53,235,234 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $104,004 | $ - |
Class M | .25% | .25% | 195,642 | - |
Class C | .75% | .25% | 29,621 | 1,615 |
$329,267 | $1,615 |
Retained by FDC | |
Class A | $4,193 |
Class M | 965 |
Class C A | 95 |
$5,253 |
% of Class-Level Average Net Assets | |
Class A | .2000 |
Class M | .2000 |
Class C | .2000 |
Class I | .1941 |
Amount | % of Class-Level Average Net AssetsA | |
Class A | $97,364 | .23 |
Class M | 80,270 | .21 |
Class C | 6,980 | .24 |
Class I | 58,523 | .19 |
Class Z | 1,316 | .04 |
$244,453 |
% of Average Net Assets | |
Fidelity Advisor Real Estate Fund | .0354 |
% of Average Net Assets | |
Fidelity Advisor Real Estate Fund | .04 |
Maximum Management Fee Rate % | |
Class A | .72 |
Class M | .72 |
Class C | .72 |
Class I | .71 |
Class Z | .56 |
Amount | |
Fidelity Advisor Real Estate Fund | $ 644 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Real Estate Fund | 1,633,679 | 4,100,478 | 281,935 |
Amount | |
Fidelity Advisor Real Estate Fund | $190 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Advisor Real Estate Fund | $184 | $ - | $- |
Expense reduction | |
Class M | $83 |
Year ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Real Estate Fund | ||
Distributions to shareholders | ||
Class A | $1,518,310 | $15,393,613 |
Class M | 1,341,402 | 13,294,219 |
Class C | 84,828 | 1,438,033 |
Class I | 1,183,474 | 12,249,509 |
Class Z | 132,338 | 1,122,094 |
Total | $4,260,352 | $43,497,468 |
Shares | Shares | Dollars | Dollars | |
Six months ended January 31, 2024 | Year ended July 31, 2023 | Six months ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Real Estate Fund | ||||
Class A | ||||
Shares sold | 248,507 | 548,565 | $3,822,066 | $9,379,631 |
Reinvestment of distributions | 92,785 | 988,337 | 1,494,294 | 15,169,887 |
Shares redeemed | (785,474) | (1,486,572) | (12,020,809) | (25,486,524) |
Net increase (decrease) | (444,182) | 50,330 | $(6,704,449) | $(937,006) |
Class M | ||||
Shares sold | 216,161 | 415,463 | $3,321,080 | $7,039,884 |
Reinvestment of distributions | 83,532 | 868,723 | 1,338,273 | 13,263,543 |
Shares redeemed | (545,528) | (691,075) | (8,332,348) | (11,816,775) |
Net increase (decrease) | (245,835) | 593,111 | $(3,672,995) | $8,486,652 |
Class C | ||||
Shares sold | 16,794 | 34,213 | $247,402 | $548,005 |
Reinvestment of distributions | 5,452 | 97,245 | 82,977 | 1,414,160 |
Shares redeemed | (105,766) | (269,790) | (1,533,270) | (4,377,700) |
Net increase (decrease) | (83,520) | (138,332) | $(1,202,891) | $(2,415,535) |
Class I | ||||
Shares sold | 377,799 | 1,212,683 | $5,897,979 | $21,265,339 |
Reinvestment of distributions | 71,167 | 773,432 | 1,166,781 | 12,074,421 |
Shares redeemed | (921,462) | (5,020,909) | (14,694,900) | (92,269,058) |
Net increase (decrease) | (472,496) | (3,034,794) | $(7,630,140) | $(58,929,298) |
Class Z | ||||
Shares sold | 78,741 | 147,772 | $1,257,831 | $2,504,135 |
Reinvestment of distributions | 7,489 | 66,006 | 122,385 | 1,033,635 |
Shares redeemed | (134,885) | (416,258) | (2,096,544) | (7,225,336) |
Net increase (decrease) | (48,655) | (202,480) | $(716,328) | $(3,687,566) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity Advisor® Real Estate Fund | ||||||||||
Class A ** | 1.11% | |||||||||
Actual | $ 1,000 | $ 1,000.80 | $ 5.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.56 | $ 5.63 | |||||||
Class M | 1.33% | |||||||||
Actual | $ 1,000 | $ 999.60 | $ 6.69 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.45 | $ 6.75 | |||||||
Class C | 1.86% | |||||||||
Actual | $ 1,000 | $ 997.50 | $ 9.34 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.79 | $ 9.42 | |||||||
Class I ** | .81% | |||||||||
Actual | $ 1,000 | $ 1,001.80 | $ 4.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.06 | $ 4.12 | |||||||
Class Z ** | .66% | |||||||||
Actual | $ 1,000 | $ 1,003.40 | $ 3.32 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.82 | $ 3.35 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity Advisor® Real Estate Fund | ||||||
Class A | 1.03% | |||||
Actual | $ 5.18 | |||||
Hypothetical- B | $ 5.23 | |||||
Class I | .77% | |||||
Actual | $ 3.87 | |||||
Hypothetical- B | $ 3.91 | |||||
Class Z | .62% | |||||
Actual | $ 3.12 | |||||
Hypothetical- B | $ 3.15 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Prologis, Inc. | 9.3 | |
Equinix, Inc. | 5.9 | |
Ventas, Inc. | 4.3 | |
Public Storage | 3.3 | |
Digital Realty Trust, Inc. | 2.9 | |
Mitsui Fudosan Co. Ltd. | 2.7 | |
Grainger Trust PLC | 2.7 | |
Kimco Realty Corp. | 2.4 | |
Dream Industrial (REIT) | 2.4 | |
Sun Communities, Inc. | 2.3 | |
38.2 | ||
Top REIT Sectors (% of Fund's net assets) | ||
REITs - Diversified | 16.8 | |
REITs - Shopping Centers | 16.3 | |
REITs - Apartments | 13.1 | |
REITs - Warehouse/Industrial | 11.6 | |
REITs - Health Care | 7.7 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.5% | |||
Shares | Value ($) | ||
Australia - 5.0% | |||
Arena (REIT) unit | 29,058 | 65,886 | |
Charter Hall Retail REIT | 29,408 | 71,051 | |
Goodman Group unit | 1,250 | 20,749 | |
National Storage REIT unit | 26,740 | 40,102 | |
Scentre Group unit | 36,858 | 73,275 | |
TOTAL AUSTRALIA | 271,063 | ||
Belgium - 0.5% | |||
Shurgard Self Storage Europe SARL | 322 | 14,988 | |
Xior Student Housing NV | 430 | 12,895 | |
TOTAL BELGIUM | 27,883 | ||
Canada - 4.2% | |||
Boardwalk (REIT) | 1,924 | 99,889 | |
Dream Industrial (REIT) | 12,752 | 127,288 | |
TOTAL CANADA | 227,177 | ||
France - 2.9% | |||
ARGAN SA | 363 | 32,247 | |
Covivio | 1,262 | 61,591 | |
Unibail-Rodamco-Westfield NV (a) | 885 | 64,061 | |
TOTAL FRANCE | 157,899 | ||
Germany - 1.1% | |||
Vonovia SE | 1,966 | 61,246 | |
Hong Kong - 1.0% | |||
Link (REIT) | 10,473 | 52,529 | |
Japan - 8.3% | |||
Advance Residence Investment Corp. | 20 | 44,043 | |
GLP J-REIT | 22 | 19,642 | |
LaSalle Logiport REIT | 74 | 74,936 | |
Mitsubishi Estate Co. Ltd. | 7,490 | 103,781 | |
Mitsui Fudosan Co. Ltd. | 5,894 | 147,962 | |
Mitsui Fudosan Logistics Park, Inc. | 19 | 56,961 | |
TOTAL JAPAN | 447,325 | ||
Singapore - 4.1% | |||
CapitaMall Trust | 76,297 | 113,741 | |
CDL Hospitality Trusts unit | 19,223 | 14,724 | |
Mapletree Pan Asia Commercial Trust | 16,224 | 17,569 | |
UOL Group Ltd. | 15,703 | 72,918 | |
TOTAL SINGAPORE | 218,952 | ||
Spain - 1.8% | |||
Lar Espana Real Estate Socimi SA | 3,900 | 26,173 | |
Merlin Properties Socimi SA | 7,120 | 73,137 | |
TOTAL SPAIN | 99,310 | ||
Sweden - 1.6% | |||
Catena AB | 1,713 | 73,316 | |
Swedish Logistic Property AB (a) | 3,717 | 11,197 | |
TOTAL SWEDEN | 84,513 | ||
United Kingdom - 7.6% | |||
Assura PLC | 107,220 | 60,521 | |
Grainger Trust PLC | 43,312 | 144,469 | |
Helical PLC | 6,213 | 16,181 | |
Londonmetric Properity PLC | 6,700 | 16,447 | |
Segro PLC | 3,750 | 41,906 | |
Shaftesbury Capital PLC | 32,154 | 54,318 | |
Unite Group PLC | 5,888 | 75,887 | |
TOTAL UNITED KINGDOM | 409,729 | ||
United States of America - 61.4% | |||
American Homes 4 Rent Class A | 2,606 | 91,340 | |
Americold Realty Trust | 1,806 | 49,665 | |
Apartment Income (REIT) Corp. | 2,142 | 70,022 | |
CubeSmart | 2,548 | 110,125 | |
DiamondRock Hospitality Co. | 7,588 | 69,354 | |
Digital Realty Trust, Inc. | 1,100 | 154,506 | |
Elme Communities (SBI) | 755 | 10,932 | |
Equinix, Inc. | 383 | 317,802 | |
Equity Lifestyle Properties, Inc. | 467 | 31,611 | |
Equity Residential (SBI) | 1,601 | 96,364 | |
Extra Space Storage, Inc. | 406 | 58,643 | |
Flagship Communities (REIT) | 4,753 | 76,856 | |
Gaming & Leisure Properties | 647 | 29,536 | |
Invitation Homes, Inc. | 1,984 | 65,333 | |
Kimco Realty Corp. | 6,571 | 132,734 | |
Mid-America Apartment Communities, Inc. | 882 | 111,467 | |
NNN (REIT), Inc. | 2,962 | 119,487 | |
Phillips Edison & Co., Inc. | 1,497 | 51,961 | |
Prologis, Inc. | 3,973 | 503,340 | |
Public Storage | 623 | 176,427 | |
Realty Income Corp. | 1,594 | 86,698 | |
Regency Centers Corp. | 1,907 | 119,512 | |
Ryman Hospitality Properties, Inc. | 481 | 52,862 | |
SITE Centers Corp. | 2,706 | 36,044 | |
Sun Communities, Inc. | 988 | 123,846 | |
Tanger, Inc. | 579 | 15,575 | |
Terreno Realty Corp. | 507 | 30,283 | |
UDR, Inc. | 3,125 | 112,563 | |
Urban Edge Properties | 2,807 | 48,477 | |
Ventas, Inc. | 5,020 | 232,878 | |
Welltower, Inc. | 1,424 | 123,190 | |
TOTAL UNITED STATES OF AMERICA | 3,309,433 | ||
TOTAL COMMON STOCKS (Cost $4,700,955) | 5,367,059 | ||
Money Market Funds - 0.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $40,256) | 40,248 | 40,256 | |
TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $4,741,211) | 5,407,315 |
NET OTHER ASSETS (LIABILITIES) - (0.3)% | (14,296) |
NET ASSETS - 100.0% | 5,393,019 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 128,414 | 314,361 | 402,519 | 1,829 | - | - | 40,256 | 0.0% |
Total | 128,414 | 314,361 | 402,519 | 1,829 | - | - | 40,256 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Real Estate | 5,367,059 | 4,315,944 | 1,051,115 | - |
Money Market Funds | 40,256 | 40,256 | - | - |
Total Investments in Securities: | 5,407,315 | 4,356,200 | 1,051,115 | - |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $4,700,955) | $ | 5,367,059 | ||
Fidelity Central Funds (cost $40,256) | 40,256 | |||
Total Investment in Securities (cost $4,741,211) | $ | 5,407,315 | ||
Cash | 6,322 | |||
Foreign currency held at value (cost $60) | 60 | |||
Receivable for investments sold | 5,102 | |||
Receivable for fund shares sold | 1,502 | |||
Dividends receivable | 13,448 | |||
Distributions receivable from Fidelity Central Funds | 225 | |||
Prepaid expenses | 8 | |||
Receivable from investment adviser for expense reductions | 5,839 | |||
Other receivables | 579 | |||
Total assets | 5,440,400 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,032 | ||
Payable for fund shares redeemed | 62 | |||
Accrued management fee | 3,068 | |||
Distribution and service plan fees payable | 1,203 | |||
Other affiliated payables | 968 | |||
Audit fee payable | 32,452 | |||
Custody fee payable | 8,592 | |||
Other payables and accrued expenses | 4 | |||
Total Liabilities | 47,381 | |||
Net Assets | $ | 5,393,019 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,651,098 | ||
Total accumulated earnings (loss) | (258,079) | |||
Net Assets | $ | 5,393,019 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($2,764,532 ÷ 273,264 shares)(a) | $ | 10.12 | ||
Maximum offering price per share (100/94.25 of $10.12) | $ | 10.74 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($940,655 ÷ 93,120 shares)(a) | $ | 10.10 | ||
Maximum offering price per share (100/96.50 of $10.10) | $ | 10.47 | ||
Class C : | ||||
Net Asset Value and offering price per share ($261,100 ÷ 25,767 shares)(a) | $ | 10.13 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($1,092,494 ÷ 107,877 shares) | $ | 10.13 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($334,238 ÷ 32,734 shares) | $ | 10.21 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 78,210 | ||
Income from Fidelity Central Funds | 1,829 | |||
Income before foreign taxes withheld | $ | 80,039 | ||
Less foreign taxes withheld | (3,292) | |||
Total Income | 76,747 | |||
Expenses | ||||
Management fee | $ | 17,096 | ||
Transfer agent fees | 5,143 | |||
Distribution and service plan fees | 6,656 | |||
Accounting fees and expenses | 900 | |||
Custodian fees and expenses | 8,645 | |||
Independent trustees' fees and expenses | 15 | |||
Registration fees | 27,207 | |||
Audit | 31,990 | |||
Legal | 4 | |||
Miscellaneous | 10 | |||
Total expenses before reductions | 97,666 | |||
Expense reductions | (67,479) | |||
Total expenses after reductions | 30,187 | |||
Net Investment income (loss) | 46,560 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (6,090) | |||
Foreign currency transactions | (104) | |||
Total net realized gain (loss) | (6,194) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 21,722 | |||
Assets and liabilities in foreign currencies | (253) | |||
Total change in net unrealized appreciation (depreciation) | 21,469 | |||
Net gain (loss) | 15,275 | |||
Net increase (decrease) in net assets resulting from operations | $ | 61,835 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 46,560 | $ | 133,483 |
Net realized gain (loss) | (6,194) | (689,970) | ||
Change in net unrealized appreciation (depreciation) | 21,469 | (11,330) | ||
Net increase (decrease) in net assets resulting from operations | 61,835 | (567,817) | ||
Distributions to shareholders | (127,792) | (76,041) | ||
Share transactions - net increase (decrease) | 221,268 | (1,482,271) | ||
Total increase (decrease) in net assets | 155,311 | (2,126,129) | ||
Net Assets | ||||
Beginning of period | 5,237,708 | 7,363,837 | ||
End of period | $ | 5,393,019 | $ | 5,237,708 |
Fidelity Advisor® Global Real Estate Fund Class A |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.21 | $ | 11.18 | $ | 12.49 | $ | 9.69 | $ | 10.72 | $ | 10.13 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .09 | .23 | .17 | .17 | .15 | .22 | ||||||
Net realized and unrealized gain (loss) | .07 | (1.11) | (1.33) | 2.76 | (.58) | .58 | ||||||
Total from investment operations | .16 | (.88) | (1.16) | 2.93 | (.43) | .80 | ||||||
Distributions from net investment income | (.25) | (.09) | (.15) | (.13) | (.23) | (.15) | ||||||
Distributions from net realized gain | - | - | - | - | (.37) | (.06) | ||||||
Total distributions | (.25) | (.09) | (.15) | (.13) | (.60) | (.21) | ||||||
Net asset value, end of period | $ | 10.12 | $ | 10.21 | $ | 11.18 | $ | 12.49 | $ | 9.69 | $ | 10.72 |
Total Return C,D,E | 1.46% | (7.81)% | (9.40)% | 30.59% | (4.61)% | 8.25% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 3.86% H | 3.85% | 3.19% | 4.19% | 4.22% | 4.56% | ||||||
Expenses net of fee waivers, if any | 1.19% H | 1.20% | 1.28% | 1.38% | 1.40% | 1.40% | ||||||
Expenses net of all reductions | 1.19% H | 1.19% | 1.28% | 1.37% | 1.39% | 1.39% | ||||||
Net investment income (loss) | 1.84% H | 2.31% | 1.45% | 1.60% | 1.47% | 2.09% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,765 | $ | 2,771 | $ | 3,021 | $ | 2,747 | $ | 1,732 | $ | 3,290 |
Portfolio turnover rate I | 31% H | 84% | 33% | 32% | 52% | 60% |
Fidelity Advisor® Global Real Estate Fund Class M |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.19 | $ | 11.16 | $ | 12.46 | $ | 9.67 | $ | 10.71 | $ | 10.11 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .08 | .20 | .14 | .14 | .12 | .19 | ||||||
Net realized and unrealized gain (loss) | .05 | (1.11) | (1.31) | 2.76 | (.58) | .60 | ||||||
Total from investment operations | .13 | (.91) | (1.17) | 2.90 | (.46) | .79 | ||||||
Distributions from net investment income | (.22) | (.06) | (.13) | (.11) | (.21) | (.13) | ||||||
Distributions from net realized gain | - | - | - | - | (.37) | (.06) | ||||||
Total distributions | (.22) | (.06) | (.13) | (.11) | (.58) | (.19) | ||||||
Net asset value, end of period | $ | 10.10 | $ | 10.19 | $ | 11.16 | $ | 12.46 | $ | 9.67 | $ | 10.71 |
Total Return C,D,E | 1.24% | (8.09)% | (9.51)% | 30.20% | (4.87)% | 8.06% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 4.10% H | 4.03% | 3.39% | 4.41% | 4.46% | 4.79% | ||||||
Expenses net of fee waivers, if any | 1.44% H | 1.45% | 1.52% | 1.63% | 1.66% | 1.65% | ||||||
Expenses net of all reductions | 1.43% H | 1.45% | 1.52% | 1.62% | 1.64% | 1.64% | ||||||
Net investment income (loss) | 1.59% H | 2.05% | 1.21% | 1.35% | 1.22% | 1.84% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 941 | $ | 918 | $ | 1,070 | $ | 876 | $ | 658 | $ | 810 |
Portfolio turnover rate I | 31% H | 84% | 33% | 32% | 52% | 60% |
Fidelity Advisor® Global Real Estate Fund Class C |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.21 | $ | 11.17 | $ | 12.47 | $ | 9.63 | $ | 10.63 | $ | 10.08 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .05 | .16 | .09 | .09 | .07 | .14 | ||||||
Net realized and unrealized gain (loss) | .06 | (1.11) | (1.33) | 2.75 | (.58) | .59 | ||||||
Total from investment operations | .11 | (.95) | (1.24) | 2.84 | (.51) | .73 | ||||||
Distributions from net investment income | (.19) | (.01) | (.06) | - | (.12) | (.12) | ||||||
Distributions from net realized gain | - | - | - | - | (.37) | (.06) | ||||||
Total distributions | (.19) | (.01) | (.06) | - | (.49) | (.18) | ||||||
Net asset value, end of period | $ | 10.13 | $ | 10.21 | $ | 11.17 | $ | 12.47 | $ | 9.63 | $ | 10.63 |
Total Return C,D,E | .98% | (8.53)% | (9.97)% | 29.49% | (5.31)% | 7.52% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | 4.62% H | 4.59% | 3.93% | 5.02% | 4.46% | 5.04% | ||||||
Expenses net of fee waivers, if any | 1.94% H | 1.94% | 2.02% | 2.14% | 2.16% | 2.15% | ||||||
Expenses net of all reductions | 1.93% H | 1.93% | 2.02% | 2.13% | 2.15% | 2.14% | ||||||
Net investment income (loss) | 1.09% H | 1.57% | .72% | .85% | .71% | 1.34% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 261 | $ | 193 | $ | 203 | $ | 223 | $ | 185 | $ | 1,060 |
Portfolio turnover rate I | 31% H | 84% | 33% | 32% | 52% | 60% |
Fidelity Advisor® Global Real Estate Fund Class I |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.23 | $ | 11.21 | $ | 12.51 | $ | 9.71 | $ | 10.75 | $ | 10.15 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .10 | .25 | .20 | .20 | .17 | .24 | ||||||
Net realized and unrealized gain (loss) | .07 | (1.11) | (1.32) | 2.76 | (.58) | .59 | ||||||
Total from investment operations | .17 | (.86) | (1.12) | 2.96 | (.41) | .83 | ||||||
Distributions from net investment income | (.27) | (.12) | (.18) | (.16) | (.26) | (.17) | ||||||
Distributions from net realized gain | - | - | - | - | (.37) | (.06) | ||||||
Total distributions | (.27) | (.12) | (.18) | (.16) | (.63) | (.23) | ||||||
Net asset value, end of period | $ | 10.13 | $ | 10.23 | $ | 11.21 | $ | 12.51 | $ | 9.71 | $ | 10.75 |
Total Return C,D | 1.60% | (7.61)% | (9.12)% | 30.82% | (4.40)% | 8.55% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | 3.57% G | 3.31% | 2.94% | 3.81% | 3.97% | 4.20% | ||||||
Expenses net of fee waivers, if any | .94% G | .95% | 1.02% | 1.13% | 1.16% | 1.15% | ||||||
Expenses net of all reductions | .94% G | .95% | 1.02% | 1.12% | 1.14% | 1.14% | ||||||
Net investment income (loss) | 2.09% G | 2.55% | 1.71% | 1.85% | 1.71% | 2.34% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,092 | $ | 1,162 | $ | 1,766 | $ | 1,483 | $ | 1,066 | $ | 1,056 |
Portfolio turnover rate H | 31% G | 84% | 33% | 32% | 52% | 60% |
Fidelity Advisor® Global Real Estate Fund Class Z |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 10.31 | $ | 11.28 | $ | 12.56 | $ | 9.73 | $ | 10.76 | $ | 10.01 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .11 | .28 | .22 | .22 | .19 | .22 | ||||||
Net realized and unrealized gain (loss) | .06 | (1.13) | (1.32) | 2.77 | (.59) | .76 | ||||||
Total from investment operations | .17 | (.85) | (1.10) | 2.99 | (.40) | .98 | ||||||
Distributions from net investment income | (.27) | (.12) | (.18) | (.16) | (.26) | (.17) | ||||||
Distributions from net realized gain | - | - | - | - | (.37) | (.06) | ||||||
Total distributions | (.27) | (.12) | (.18) | (.16) | (.63) | (.23) | ||||||
Net asset value, end of period | $ | 10.21 | $ | 10.31 | $ | 11.28 | $ | 12.56 | $ | 9.73 | $ | 10.76 |
Total Return D,E | 1.58% | (7.48)% | (8.93)% | 31.07% | (4.29)% | 10.17% | ||||||
Ratios to Average Net Assets C,F,G | ||||||||||||
Expenses before reductions | 3.29% H | 3.38% | 2.71% | 3.72% | 3.54% | 3.87% H | ||||||
Expenses net of fee waivers, if any | .79% H | .80% | .89% | .97% | 1.02% | 1.00% H | ||||||
Expenses net of all reductions | .78% H | .80% | .89% | .96% | 1.00% | 1.00% H | ||||||
Net investment income (loss) | 2.24% H | 2.70% | 1.84% | 2.01% | 1.86% | 2.50% H | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 334 | $ | 194 | $ | 1,303 | $ | 1,180 | $ | 233 | $ | 306 |
Portfolio turnover rate I | 31% H | 84% | 33% | 32% | 52% | 60% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $841,096 |
Gross unrealized depreciation | (215,831) |
Net unrealized appreciation (depreciation) | $625,265 |
Tax cost | $4,782,050 |
Short-term | $(531,240) |
Long-term | (340,454) |
Total capital loss carryforward | $(871,694) |
Purchases ($) | Sales ($) | |
Fidelity Advisor Global Real Estate Fund | 1,015,412 | 778,461 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $3,306 | $1,347 |
Class M | .25% | .25% | 2,186 | 1,316 |
Class C | .75% | .25% | 1,164 | 405 |
$6,656 | $3,068 |
Retained by FDC | |
Class A | $346 |
Class M | 88 |
Class CA | 2 |
$436 |
% of Class-Level Average Net Assets | |
Class A | 0.2000 |
Class M | 0.1995 |
Class C | 0.2000 |
Class I | 0.1333 |
Amount | % of Class-Level Average Net AssetsA | |
Class A | $3,129 | .24 |
Class M | 917 | .21 |
Class C | 274 | .24 |
Class I | 769 | .14 |
Class Z | 54 | .04 |
$5,143 |
% of Average Net Assets | |
Fidelity Advisor Global Real Estate Fund | 0.0354 |
% of Average Net Assets | |
Fidelity Advisor Global Real Estate Fund | .04 |
Maximum Management Fee Rate % | |
Class A | 0.87 |
Class M | 0.87 |
Class C | 0.87 |
Class I | 0.80 |
Class Z | 0.71 |
Amount | |
Fidelity Advisor Global Real Estate Fund | $ 40 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Global Real Estate Fund | 61,945 | 46,575 | (6,336) |
Amount | |
Fidelity Advisor Global Real Estate Fund | $4 |
Expense Limitations | Reimbursement | |
Class A | 1.20% | $35,158 |
Class M | 1.45% | 11,585 |
Class C | 1.95% | 3,107 |
Class I | .95% | 14,078 |
Class Z | .80% | 3,165 |
$67,093 |
Six months ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Global Real Estate Fund | ||
Distributions to shareholders | ||
Class A | $65,583 | $23,736 |
Class M | 20,354 | 5,995 |
Class C | 4,497 | 136 |
Class I | 28,380 | 43,870 |
Class Z | 8,978 | 2,304 |
Total | $127,792 | $76,041 |
Shares | Shares | Dollars | Dollars | |
Six months ended January 31, 2024 | Year ended July 31, 2023 | Six months ended January 31, 2024 | Year ended July 31, 2023 | |
Fidelity Advisor Global Real Estate Fund | ||||
Class A | ||||
Shares sold | 12,039 | 40,105 | $117,587 | $395,082 |
Reinvestment of distributions | 6,294 | 2,489 | 65,583 | 23,736 |
Shares redeemed | (16,426) | (41,363) | (158,655) | (410,949) |
Net increase (decrease) | 1,907 | 1,231 | $24,515 | $7,869 |
Class M | ||||
Shares sold | 7,581 | 7,122 | $77,861 | $70,044 |
Reinvestment of distributions | 1,957 | 629 | 20,354 | 5,995 |
Shares redeemed | (6,514) | (13,581) | (62,200) | (130,257) |
Net increase (decrease) | 3,024 | (5,830) | $36,015 | $(54,218) |
Class C | ||||
Shares sold | 8,077 | 5,080 | $79,880 | $50,554 |
Reinvestment of distributions | 431 | 14 | 4,497 | 136 |
Shares redeemed | (1,599) | (4,441) | (15,623) | (44,663) |
Net increase (decrease) | 6,909 | 653 | $68,754 | $6,027 |
Class I | ||||
Shares sold | 4,055 | 267,118 | $40,842 | $2,612,072 |
Reinvestment of distributions | 2,677 | 4,304 | 27,921 | 41,084 |
Shares redeemed | (12,409) | (315,343) | (114,474) | (3,144,342) |
Net increase (decrease) | (5,677) | (43,921) | $(45,711) | $(491,186) |
Class Z | ||||
Shares sold | 15,102 | 79,530 | $149,138 | $764,368 |
Reinvestment of distributions | 577 | 240 | 6,068 | 2,304 |
Shares redeemed | (1,734) | (176,559) | (17,511) | (1,717,435) |
Net increase (decrease) | 13,945 | (96,789) | $137,695 | $(950,763) |
Fund | Affiliated % |
Fidelity Advisor Global Real Estate Fund | 46% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity Advisor® Global Real Estate Fund | ||||||||||
Class A | 1.19% | |||||||||
Actual | $ 1,000 | $ 1,014.60 | $ 6.03 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.15 | $ 6.04 | |||||||
Class M | 1.44% | |||||||||
Actual | $ 1,000 | $ 1,012.40 | $ 7.28 | |||||||
Hypothetical-B | $ 1,000 | $ 1,017.90 | $ 7.30 | |||||||
Class C | 1.94% | |||||||||
Actual | $ 1,000 | $ 1,009.80 | $ 9.80 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.38 | $ 9.83 | |||||||
Class I | .94% | |||||||||
Actual | $ 1,000 | $ 1,016.00 | $ 4.76 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.41 | $ 4.77 | |||||||
Class Z | .79% | |||||||||
Actual | $ 1,000 | $ 1,015.80 | $ 4.00 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.17 | $ 4.01 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Advisor Series VII’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series VII’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable
assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
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 VII
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | March 21, 2024 |
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 21, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | March 21, 2024 |