Quarterly Holdings Report
for
Fidelity Advisor® Capital Development Fund
June 30, 2021
ADESII-NPRT3-0821
1.804793.117
Common Stocks - 99.6% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.8% | |||
Diversified Telecommunication Services - 0.4% | |||
Verizon Communications, Inc. | 287,206 | 16,092,152 | |
Entertainment - 2.5% | |||
Activision Blizzard, Inc. | 132,300 | 12,626,712 | |
Nintendo Co. Ltd. ADR | 193,600 | 14,041,808 | |
The Walt Disney Co. (a) | 285,400 | 50,164,758 | |
Vivendi SA (b) | 928,700 | 31,203,515 | |
108,036,793 | |||
Interactive Media & Services - 2.0% | |||
Alphabet, Inc.: | |||
Class A (a) | 13,600 | 33,208,344 | |
Class C (a) | 12,383 | 31,035,761 | |
Facebook, Inc. Class A (a) | 22,800 | 7,927,788 | |
Match Group, Inc. (a) | 82,847 | 13,359,079 | |
85,530,972 | |||
Media - 3.9% | |||
Comcast Corp. Class A | 2,531,600 | 144,351,832 | |
Interpublic Group of Companies, Inc. | 718,500 | 23,344,065 | |
167,695,897 | |||
TOTAL COMMUNICATION SERVICES | 377,355,814 | ||
CONSUMER DISCRETIONARY - 5.2% | |||
Auto Components - 0.6% | |||
BorgWarner, Inc. | 525,160 | 25,491,266 | |
Automobiles - 0.7% | |||
General Motors Co. (a) | 487,300 | 28,833,541 | |
Distributors - 0.0% | |||
LKQ Corp. (a) | 8,900 | 438,058 | |
Hotels, Restaurants & Leisure - 1.3% | |||
Booking Holdings, Inc. (a) | 14,400 | 31,508,496 | |
Elior SA (a)(c) | 435,200 | 3,251,042 | |
Expedia, Inc. (a) | 76,200 | 12,474,702 | |
Marriott International, Inc. Class A (a) | 25,400 | 3,467,608 | |
Starbucks Corp. | 44,100 | 4,930,821 | |
55,632,669 | |||
Household Durables - 1.4% | |||
Mohawk Industries, Inc. (a) | 153,400 | 29,481,946 | |
Sony Group Corp. sponsored ADR | 58,700 | 5,706,814 | |
Whirlpool Corp. | 119,300 | 26,009,786 | |
61,198,546 | |||
Internet & Direct Marketing Retail - 0.0% | |||
Ocado Group PLC (a) | 24,800 | 687,146 | |
Specialty Retail - 1.2% | |||
Lowe's Companies, Inc. | 262,100 | 50,839,537 | |
TOTAL CONSUMER DISCRETIONARY | 223,120,763 | ||
CONSUMER STAPLES - 5.9% | |||
Beverages - 1.5% | |||
Anheuser-Busch InBev SA NV ADR (b) | 25,500 | 1,836,255 | |
Diageo PLC sponsored ADR | 107,600 | 20,625,844 | |
Keurig Dr. Pepper, Inc. | 221,900 | 7,819,756 | |
The Coca-Cola Co. | 640,800 | 34,673,688 | |
64,955,543 | |||
Food & Staples Retailing - 0.9% | |||
Costco Wholesale Corp. | 14,000 | 5,539,380 | |
Performance Food Group Co. (a) | 153,300 | 7,433,517 | |
Sysco Corp. | 310,500 | 24,141,375 | |
37,114,272 | |||
Food Products - 0.1% | |||
Lamb Weston Holdings, Inc. | 44,700 | 3,605,502 | |
Household Products - 0.3% | |||
Colgate-Palmolive Co. | 9,600 | 780,960 | |
Procter & Gamble Co. | 6,500 | 877,045 | |
Spectrum Brands Holdings, Inc. | 107,500 | 9,141,800 | |
10,799,805 | |||
Tobacco - 3.1% | |||
Altria Group, Inc. | 2,375,200 | 113,249,536 | |
British American Tobacco PLC sponsored ADR | 452,800 | 17,799,568 | |
Swedish Match Co. AB | 506,000 | 4,314,962 | |
135,364,066 | |||
TOTAL CONSUMER STAPLES | 251,839,188 | ||
ENERGY - 8.3% | |||
Energy Equipment & Services - 0.1% | |||
Subsea 7 SA | 562,600 | 5,401,127 | |
Oil, Gas & Consumable Fuels - 8.2% | |||
Canadian Natural Resources Ltd. | 97,000 | 3,521,297 | |
Cenovus Energy, Inc. (Canada) | 4,034,858 | 38,603,917 | |
Exxon Mobil Corp. | 3,090,900 | 194,973,972 | |
Hess Corp. | 870,320 | 75,996,342 | |
Imperial Oil Ltd. | 147,800 | 4,504,585 | |
Kosmos Energy Ltd. (a) | 4,090,190 | 14,152,057 | |
MEG Energy Corp. (a) | 319,200 | 2,309,797 | |
Phillips 66 Co. | 223,100 | 19,146,442 | |
353,208,409 | |||
TOTAL ENERGY | 358,609,536 | ||
FINANCIALS - 18.3% | |||
Banks - 12.7% | |||
Bank of America Corp. | 3,845,815 | 158,562,952 | |
JPMorgan Chase & Co. | 371,800 | 57,829,772 | |
M&T Bank Corp. | 51,600 | 7,497,996 | |
PNC Financial Services Group, Inc. | 300,816 | 57,383,660 | |
Truist Financial Corp. | 660,626 | 36,664,743 | |
U.S. Bancorp | 574,442 | 32,725,961 | |
Wells Fargo & Co. | 4,291,050 | 194,341,655 | |
545,006,739 | |||
Capital Markets - 3.5% | |||
KKR & Co. LP | 428,485 | 25,383,451 | |
Morgan Stanley | 279,300 | 25,609,017 | |
Northern Trust Corp. | 448,395 | 51,843,430 | |
Raymond James Financial, Inc. | 80,700 | 10,482,930 | |
State Street Corp. | 466,090 | 38,349,885 | |
151,668,713 | |||
Consumer Finance - 0.7% | |||
Discover Financial Services | 243,500 | 28,803,615 | |
Diversified Financial Services - 0.3% | |||
Juniper Industrial Holdings, Inc. (d) | 895,300 | 11,385,530 | |
Insurance - 0.2% | |||
Chubb Ltd. | 60,700 | 9,647,658 | |
Thrifts & Mortgage Finance - 0.9% | |||
MGIC Investment Corp. | 646,661 | 8,794,590 | |
Radian Group, Inc. | 1,451,752 | 32,301,482 | |
41,096,072 | |||
TOTAL FINANCIALS | 787,608,327 | ||
HEALTH CARE - 14.4% | |||
Biotechnology - 0.7% | |||
AbbVie, Inc. | 57,963 | 6,528,952 | |
ADC Therapeutics SA (a) | 58,788 | 1,431,488 | |
Alnylam Pharmaceuticals, Inc. (a) | 44,200 | 7,492,784 | |
Crinetics Pharmaceuticals, Inc. (a) | 86,500 | 1,630,525 | |
Gritstone Bio, Inc. (a) | 76,987 | 702,891 | |
Heron Therapeutics, Inc. (a) | 36,700 | 569,584 | |
Insmed, Inc. (a) | 175,279 | 4,988,440 | |
Intercept Pharmaceuticals, Inc. (a)(b) | 273,405 | 5,459,898 | |
Vaxcyte, Inc. | 46,100 | 1,037,711 | |
Verve Therapeutics, Inc. | 39,200 | 2,361,800 | |
32,204,073 | |||
Health Care Equipment & Supplies - 1.6% | |||
Abbott Laboratories | 20,500 | 2,376,565 | |
Becton, Dickinson & Co. | 44,800 | 10,894,912 | |
Boston Scientific Corp. (a) | 1,158,251 | 49,526,813 | |
Danaher Corp. | 16,600 | 4,454,776 | |
iRhythm Technologies, Inc. (a) | 412 | 27,336 | |
67,280,402 | |||
Health Care Providers & Services - 6.0% | |||
AmerisourceBergen Corp. | 88,400 | 10,120,916 | |
Cardinal Health, Inc. | 391,000 | 22,322,190 | |
Centene Corp. (a) | 65,400 | 4,769,622 | |
Cigna Corp. | 219,500 | 52,036,865 | |
Covetrus, Inc. (a) | 132,320 | 3,572,640 | |
CVS Health Corp. | 650,700 | 54,294,408 | |
Guardant Health, Inc. (a) | 17,400 | 2,160,906 | |
Humana, Inc. | 6,700 | 2,966,224 | |
McKesson Corp. | 240,580 | 46,008,519 | |
UnitedHealth Group, Inc. | 145,100 | 58,103,844 | |
256,356,134 | |||
Health Care Technology - 0.0% | |||
Castlight Health, Inc. Class B (a) | 325,854 | 856,996 | |
Pharmaceuticals - 6.1% | |||
Bayer AG | 696,278 | 42,330,384 | |
Bristol-Myers Squibb Co. | 1,254,300 | 83,812,326 | |
Eli Lilly & Co. | 53,600 | 12,302,272 | |
GlaxoSmithKline PLC sponsored ADR (b) | 1,181,000 | 47,027,420 | |
Intra-Cellular Therapies, Inc. (a) | 39,900 | 1,628,718 | |
Johnson & Johnson | 366,960 | 60,452,990 | |
Pliant Therapeutics, Inc. | 58,000 | 1,688,960 | |
Sanofi SA sponsored ADR | 157,200 | 8,278,152 | |
TherapeuticsMD, Inc. (a)(b) | 1,966,431 | 2,340,053 | |
Viatris, Inc. | 50,600 | 723,074 | |
260,584,349 | |||
TOTAL HEALTH CARE | 617,281,954 | ||
INDUSTRIALS - 16.2% | |||
Aerospace & Defense - 2.5% | |||
Airbus Group NV (a) | 125,300 | 16,145,261 | |
General Dynamics Corp. | 54,400 | 10,241,344 | |
Huntington Ingalls Industries, Inc. | 39,800 | 8,387,850 | |
Maxar Technologies, Inc. | 22,100 | 882,232 | |
MTU Aero Engines AG | 18,100 | 4,483,427 | |
Raytheon Technologies Corp. | 66,400 | 5,664,584 | |
Rolls-Royce Holdings PLC | 5,099,600 | 6,981,441 | |
Safran SA | 24,200 | 3,358,547 | |
The Boeing Co. (a) | 205,800 | 49,301,448 | |
105,446,134 | |||
Air Freight & Logistics - 2.7% | |||
FedEx Corp. | 88,600 | 26,432,038 | |
United Parcel Service, Inc. Class B | 433,900 | 90,238,183 | |
116,670,221 | |||
Airlines - 0.1% | |||
Copa Holdings SA Class A (a) | 400 | 30,132 | |
Ryanair Holdings PLC sponsored ADR (a) | 38,000 | 4,111,980 | |
4,142,112 | |||
Building Products - 0.2% | |||
Johnson Controls International PLC | 105,000 | 7,206,150 | |
Electrical Equipment - 1.3% | |||
Acuity Brands, Inc. | 69,500 | 12,998,585 | |
Hubbell, Inc. Class B | 51,518 | 9,625,623 | |
Vertiv Holdings Co. | 135,900 | 3,710,070 | |
Vertiv Holdings LLC (a)(d) | 1,100,000 | 30,030,000 | |
56,364,278 | |||
Industrial Conglomerates - 7.2% | |||
3M Co. | 64,500 | 12,811,635 | |
General Electric Co. | 22,115,100 | 297,669,248 | |
310,480,883 | |||
Machinery - 1.2% | |||
Caterpillar, Inc. | 16,500 | 3,590,895 | |
Cummins, Inc. | 24,600 | 5,997,726 | |
Epiroc AB (A Shares) | 123,700 | 2,815,864 | |
Flowserve Corp. | 221,600 | 8,934,912 | |
Fortive Corp. | 109,100 | 7,608,634 | |
Otis Worldwide Corp. | 79,150 | 6,472,096 | |
Stanley Black & Decker, Inc. | 37,200 | 7,625,628 | |
Westinghouse Air Brake Co. | 121,002 | 9,958,465 | |
53,004,220 | |||
Professional Services - 0.1% | |||
Equifax, Inc. | 14,900 | 3,568,699 | |
Road & Rail - 0.9% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 492,800 | 22,402,688 | |
Lyft, Inc. (a) | 119,533 | 7,229,356 | |
Ryder System, Inc. | 133,900 | 9,952,787 | |
39,584,831 | |||
Trading Companies & Distributors - 0.0% | |||
Beijer Ref AB (B Shares) | 61,800 | 1,101,237 | |
TOTAL INDUSTRIALS | 697,568,765 | ||
INFORMATION TECHNOLOGY - 19.0% | |||
Electronic Equipment & Components - 0.3% | |||
CDW Corp. | 15,500 | 2,707,075 | |
Vontier Corp. | 283,340 | 9,231,217 | |
11,938,292 | |||
IT Services - 3.8% | |||
Amadeus IT Holding SA Class A (a) | 109,600 | 7,709,120 | |
Edenred SA | 157,500 | 8,973,608 | |
Fidelity National Information Services, Inc. | 177,400 | 25,132,258 | |
Genpact Ltd. | 168,200 | 7,641,326 | |
IBM Corp. | 46,400 | 6,801,776 | |
MasterCard, Inc. Class A | 32,300 | 11,792,407 | |
Sabre Corp. (a) | 444,400 | 5,546,112 | |
Snowflake Computing, Inc. | 3,300 | 797,940 | |
Twilio, Inc. Class A (a) | 5,300 | 2,089,048 | |
Unisys Corp. (a) | 515,247 | 13,040,902 | |
Visa, Inc. Class A | 322,200 | 75,336,804 | |
164,861,301 | |||
Semiconductors & Semiconductor Equipment - 3.4% | |||
Analog Devices, Inc. | 44,500 | 7,661,120 | |
Applied Materials, Inc. | 93,400 | 13,300,160 | |
Intel Corp. | 401,200 | 22,523,368 | |
Lam Research Corp. | 11,900 | 7,743,330 | |
Marvell Technology, Inc. | 158,400 | 9,239,472 | |
Qualcomm, Inc. | 585,690 | 83,712,672 | |
144,180,122 | |||
Software - 8.3% | |||
Autodesk, Inc. (a) | 37,300 | 10,887,870 | |
Dynatrace, Inc. (a) | 118,800 | 6,940,296 | |
Elastic NV (a) | 95,800 | 13,963,808 | |
Microsoft Corp. | 1,002,800 | 271,658,520 | |
PTC, Inc. (a) | 48,000 | 6,780,480 | |
SAP SE sponsored ADR | 289,900 | 40,719,354 | |
Workday, Inc. Class A (a) | 14,600 | 3,485,604 | |
354,435,932 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 971,500 | 133,056,640 | |
Samsung Electronics Co. Ltd. | 90,700 | 6,477,425 | |
139,534,065 | |||
TOTAL INFORMATION TECHNOLOGY | 814,949,712 | ||
MATERIALS - 2.4% | |||
Chemicals - 0.9% | |||
DuPont de Nemours, Inc. | 419,500 | 32,473,495 | |
Livent Corp. (a) | 14,200 | 274,912 | |
PPG Industries, Inc. | 46,200 | 7,843,374 | |
40,591,781 | |||
Metals & Mining - 1.5% | |||
BHP Group Ltd. sponsored ADR (b) | 289,100 | 21,055,153 | |
First Quantum Minerals Ltd. | 362,100 | 8,345,593 | |
Freeport-McMoRan, Inc. | 944,379 | 35,045,905 | |
Lundin Mining Corp. | 8,200 | 73,956 | |
64,520,607 | |||
TOTAL MATERIALS | 105,112,388 | ||
REAL ESTATE - 0.8% | |||
Equity Real Estate Investment Trusts (REITs) - 0.8% | |||
American Tower Corp. | 43,000 | 11,616,020 | |
Equinix, Inc. | 1,700 | 1,364,420 | |
Simon Property Group, Inc. | 152,200 | 19,859,056 | |
32,839,496 | |||
UTILITIES - 0.3% | |||
Electric Utilities - 0.2% | |||
Entergy Corp. | 35,900 | 3,579,230 | |
Southern Co. | 92,100 | 5,572,971 | |
9,152,201 | |||
Multi-Utilities - 0.1% | |||
CenterPoint Energy, Inc. | 125,200 | 3,069,904 | |
Sempra Energy | 9,300 | 1,232,064 | |
4,301,968 | |||
TOTAL UTILITIES | 13,454,169 | ||
TOTAL COMMON STOCKS (Cost $2,707,399,733) | 4,279,740,112 |
Preferred Stocks - 0.1% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.0% | |||
Internet & Direct Marketing Retail - 0.0% | |||
Reddit, Inc. Series E (d)(e) | 5,200 | 220,866 | |
Nonconvertible Preferred Stocks - 0.1% | |||
Aerospace & Defense - 0.1% | |||
Embraer SA sponsored ADR (a) | 360,900 | 5,464,026 | |
TOTAL PREFERRED STOCKS (Cost $4,197,273) | 5,684,892 |
Other - 0.1% | |||
Shares | Value ($) | ||
Other - 0.1% | |||
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f) (Cost $7,821,618) | 6,029,662 | 3,790,746 | |
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 0.06% (g) | 3,565,440 | 3,566,153 | |
Fidelity Securities Lending Cash Central Fund 0.06% (g)(h) | 101,214,324 | 101,224,445 | |
TOTAL MONEY MARKET FUNDS (Cost $104,790,598) | 104,790,598 |
TOTAL INVESTMENT IN SECURITIES - 102.2% (Cost $2,824,209,222) | 4,394,006,348 |
NET OTHER ASSETS (LIABILITIES) - (2.2)% | (96,051,673) |
NET ASSETS - 100.0% | 4,297,954,675 |
Legend
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $3,251,042 or 0.1% of net assets. |
(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 $45,427,142 or 1.1% of net assets. |
(e) | Level 3 security |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(h) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Juniper Industrial Holdings, Inc. | 12/21/20 | 8,953,000 |
Reddit, Inc. Series E | 5/18/21 | 220,866 |
Utica Shale Drilling Program (non-operating revenue interest) | 10/05/16 - 12/16/20 | 7,821,618 |
Vertiv Holdings LLC | 2/06/20 | 11,000,000 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
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 0.06% | 57,343,306 | 254,541,809 | 308,307,826 | 30,288 | (9,746) | (1,390) | 3,566,153 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.06% | 38,414,876 | 437,826,585 | 375,017,016 | - | - | - | 101,224,445 | 0.3% |
Total | 95,758,182 | 692,368,394 | 683,324,842 | 30,288 | (9,746) | (1,390) | 104,790,598 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.