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 811-03737
Fidelity Advisor Series IV
(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: | November 30 |
Date of reporting period: | May 31, 2023 |
Item 1.
Reports to Stockholders
Contents
Coupon Distribution (% of Fund's Investments) | ||
0.01 - 0.99% | 19.4 | |
1 - 1.99% | 17.7 | |
2 - 2.99% | 18.7 | |
3 - 3.99% | 18.5 | |
4 - 4.99% | 13.7 | |
5 - 5.99% | 5.6 | |
6 - 6.99% | 0.3 | |
7 - 7.99% | 0.0 | |
8 - 8.99% | 0.0 | |
Coupon distribution shows the range of stated interest rates on the fund's investments, excluding short-term investments. |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (0.1)% |
Futures and Swaps - 18.8% |
Percentages in the above tables are adjusted for the effect of TBA Sale Commitments. |
U.S. Government and Government Agency Obligations - 82.4% | |||
Principal Amount (a) | Value ($) | ||
U.S. Government Agency Obligations - 0.6% | |||
Fannie Mae 0.625% 4/22/25 | 319,000 | 296,690 | |
Freddie Mac 4% 11/25/24 | 1,500,000 | 1,469,575 | |
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS | 1,766,265 | ||
U.S. Treasury Obligations - 81.4% | |||
U.S. Treasury Bonds 3.625% 2/15/53 | 1,590,000 | 1,527,145 | |
U.S. Treasury Notes: | |||
0.25% 5/15/24 | 258,000 | 246,027 | |
0.25% 7/31/25 | 15,964,000 | 14,633,251 | |
0.25% 9/30/25 | 14,373,000 | 13,127,153 | |
0.25% 10/31/25 | 5,600,000 | 5,095,344 | |
0.375% 4/30/25 | 17,023,000 | 15,756,914 | |
0.375% 12/31/25 | 1,226,000 | 1,114,990 | |
0.75% 3/31/26 | 939,000 | 856,984 | |
0.75% 8/31/26 | 1,200,000 | 1,081,922 | |
0.875% 9/30/26 | 5,600,000 | 5,063,844 | |
1.125% 10/31/26 | 800,000 | 727,781 | |
1.25% 12/31/26 | 7,119,000 | 6,485,242 | |
1.375% 1/31/25 | 2,300,000 | 2,180,688 | |
1.5% 2/29/24 | 18,000,000 | 17,502,890 | |
1.5% 9/30/24 | 7,921,000 | 7,578,479 | |
1.5% 10/31/24 | 3,410,000 | 3,256,550 | |
1.5% 1/31/27 | 1,144,000 | 1,049,173 | |
1.5% 11/30/28 | 125,000 | 110,933 | |
1.625% 9/30/26 | 552,000 | 511,721 | |
1.75% 7/31/24 | 7,660,000 | 7,376,939 | |
2% 5/31/24 | 4,240,000 | 4,107,831 | |
2.25% 4/30/24 | 3,560,000 | 3,464,325 | |
2.375% 3/31/29 | 500,000 | 463,613 | |
2.5% 3/31/27 | 15,200,000 | 14,437,031 | |
2.75% 2/15/24 | 12,942,000 | 12,712,987 | |
2.75% 4/30/27 | 2,200,000 | 2,107,102 | |
2.75% 7/31/27 | 3,100,000 | 2,964,859 | |
3% 6/30/24 | 15,800,000 | 15,442,648 | |
3.5% 4/30/28 | 110,000 | 108,582 | |
3.625% 3/31/28 | 3,470,000 | 3,443,433 | |
3.875% 4/30/25 | 1,970,000 | 1,948,530 | |
3.875% 1/15/26 | 10,030,000 | 9,959,868 | |
3.875% 11/30/27 | 4,110,000 | 4,116,582 | |
3.875% 12/31/27 | 10,479,000 | 10,496,190 | |
4% 2/15/26 | 2,500,000 | 2,491,797 | |
4% 2/29/28 | 4,900,000 | 4,943,066 | |
4.125% 10/31/27 | 6,500,000 | 6,567,031 | |
4.25% 12/31/24 | 7,000,000 | 6,948,867 | |
4.5% 11/30/24 | 2,600,000 | 2,589,031 | |
4.625% 2/28/25 | 8,600,000 | 8,605,039 | |
4.625% 3/15/26 | 2,210,000 | 2,241,423 | |
TOTAL U.S. TREASURY OBLIGATIONS | 225,443,805 | ||
Other Government Related - 0.4% | |||
Private Export Funding Corp. Secured 1.75% 11/15/24 | 1,050,000 | 995,969 | |
TOTAL U.S. GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS (Cost $237,490,944) | 228,206,039 | ||
U.S. Government Agency - Mortgage Securities - 12.3% | |||
Principal Amount (a) | Value ($) | ||
Fannie Mae - 3.8% | |||
12 month U.S. LIBOR + 1.360% 3.615% 10/1/35 (b)(c) | 2,441 | 2,463 | |
12 month U.S. LIBOR + 1.460% 3.848% 1/1/35 (b)(c) | 3,731 | 3,751 | |
12 month U.S. LIBOR + 1.480% 3.796% 7/1/34 (b)(c) | 488 | 496 | |
12 month U.S. LIBOR + 1.550% 3.715% 5/1/44 (b)(c) | 3,756 | 3,827 | |
12 month U.S. LIBOR + 1.550% 3.803% 6/1/36 (b)(c) | 733 | 749 | |
12 month U.S. LIBOR + 1.550% 3.989% 2/1/44 (b)(c) | 2,435 | 2,459 | |
12 month U.S. LIBOR + 1.560% 3.935% 2/1/44 (b)(c) | 5,979 | 6,048 | |
12 month U.S. LIBOR + 1.560% 4.065% 3/1/37 (b)(c) | 4,122 | 4,155 | |
12 month U.S. LIBOR + 1.570% 4.157% 4/1/44 (b)(c) | 11,778 | 11,909 | |
12 month U.S. LIBOR + 1.580% 3.83% 1/1/44 (b)(c) | 6,143 | 6,216 | |
12 month U.S. LIBOR + 1.580% 4.08% 4/1/44 (b)(c) | 4,117 | 4,157 | |
12 month U.S. LIBOR + 1.620% 3.95% 3/1/33 (b)(c) | 3,494 | 3,521 | |
12 month U.S. LIBOR + 1.630% 4.127% 11/1/36 (b)(c) | 5,552 | 5,633 | |
12 month U.S. LIBOR + 1.640% 3.895% 6/1/47 (b)(c) | 5,789 | 5,902 | |
12 month U.S. LIBOR + 1.730% 4.294% 5/1/36 (b)(c) | 1,312 | 1,342 | |
12 month U.S. LIBOR + 1.750% 4.051% 7/1/35 (b)(c) | 958 | 969 | |
12 month U.S. LIBOR + 1.770% 3.995% 2/1/37 (b)(c) | 10,670 | 10,789 | |
12 month U.S. LIBOR + 1.800% 4.055% 1/1/42 (b)(c) | 14,585 | 14,805 | |
12 month U.S. LIBOR + 1.810% 4.304% 2/1/42 (b)(c) | 8,637 | 8,766 | |
12 month U.S. LIBOR + 1.850% 4.429% 4/1/36 (b)(c) | 8,481 | 8,586 | |
12 month U.S. LIBOR + 1.890% 4.392% 8/1/35 (b)(c) | 7,176 | 7,313 | |
6 month U.S. LIBOR + 1.510% 5.523% 2/1/33 (b)(c) | 876 | 888 | |
6 month U.S. LIBOR + 1.530% 3.785% 12/1/34 (b)(c) | 1,253 | 1,256 | |
6 month U.S. LIBOR + 1.530% 3.844% 3/1/35 (b)(c) | 2,009 | 2,014 | |
6 month U.S. LIBOR + 1.540% 6.295% 4/1/33 (b)(c) | 13,189 | 13,420 | |
6 month U.S. LIBOR + 1.550% 5.984% 10/1/33 (b)(c) | 1,413 | 1,440 | |
6 month U.S. LIBOR + 1.560% 5.603% 7/1/35 (b)(c) | 681 | 692 | |
U.S. TREASURY 1 YEAR INDEX + 2.180% 4.139% 7/1/36 (b)(c) | 6,391 | 6,481 | |
U.S. TREASURY 1 YEAR INDEX + 2.200% 4.583% 3/1/35 (b)(c) | 878 | 891 | |
U.S. TREASURY 1 YEAR INDEX + 2.280% 4.405% 10/1/33 (b)(c) | 1,762 | 1,802 | |
U.S. TREASURY 1 YEAR INDEX + 2.300% 4.303% 12/1/32 (b)(c) | 35,287 | 36,052 | |
U.S. TREASURY 1 YEAR INDEX + 2.460% 4.612% 12/1/32 (b)(c) | 68,891 | 70,195 | |
1.5% 11/1/40 to 11/1/41 | 2,983,375 | 2,443,569 | |
2% 2/1/28 to 7/1/41 | 2,730,676 | 2,451,176 | |
2.5% 1/1/28 to 11/1/41 | 1,677,571 | 1,552,496 | |
3% 11/1/34 to 2/1/52 (d)(e) | 1,128,494 | 1,046,498 | |
3.5% 3/1/52 | 49,825 | 45,994 | |
4% 7/1/46 to 10/1/46 | 866,423 | 837,691 | |
4.5% 11/1/25 to 6/1/41 | 205,181 | 203,406 | |
5% 10/1/52 to 12/1/52 | 824,476 | 821,151 | |
5.5% 8/1/25 | 1,433 | 1,423 | |
5.5% 5/1/53 | 567,474 | 570,094 | |
6% to 6% 1/1/34 to 6/1/36 | 132,294 | 136,602 | |
6.5% 5/1/27 to 8/1/36 | 126,443 | 131,503 | |
TOTAL FANNIE MAE | 10,490,590 | ||
Freddie Mac - 2.4% | |||
12 month U.S. LIBOR + 1.750% 4% 9/1/41 (b)(c) | 28,239 | 28,691 | |
12 month U.S. LIBOR + 1.880% 4.13% 10/1/41 (b)(c) | 35,659 | 36,255 | |
12 month U.S. LIBOR + 1.900% 4.179% 10/1/42 (b)(c) | 11,391 | 11,575 | |
12 month U.S. LIBOR + 2.030% 4.158% 3/1/33 (b)(c) | 98 | 99 | |
12 month U.S. LIBOR + 2.040% 4.256% 7/1/36 (b)(c) | 5,641 | 5,786 | |
6 month U.S. LIBOR + 1.660% 5.54% 7/1/35 (b)(c) | 8,765 | 8,890 | |
6 month U.S. LIBOR + 1.880% 4.369% 10/1/36 (b)(c) | 13,095 | 13,159 | |
6 month U.S. LIBOR + 1.990% 4.435% 10/1/35 (b)(c) | 6,869 | 6,919 | |
6 month U.S. LIBOR + 2.010% 6.76% 5/1/37 (b)(c) | 1,471 | 1,511 | |
6 month U.S. LIBOR + 2.680% 6.988% 10/1/35 (b)(c) | 647 | 666 | |
U.S. TREASURY 1 YEAR INDEX + 2.030% 3.907% 6/1/33 (b)(c) | 10,129 | 10,250 | |
U.S. TREASURY 1 YEAR INDEX + 2.230% 5.066% 4/1/34 (b)(c) | 20,075 | 20,453 | |
U.S. TREASURY 1 YEAR INDEX + 2.540% 4.046% 7/1/35 (b)(c) | 11,651 | 12,000 | |
1.5% 12/1/40 to 4/1/41 | 818,077 | 674,241 | |
2% 7/1/41 | 1,034,459 | 893,947 | |
2.5% 1/1/28 to 1/1/42 | 2,469,821 | 2,239,362 | |
3% 9/1/34 to 3/1/52 | 467,874 | 435,273 | |
3.5% 7/1/32 to 3/1/52 (d) | 1,094,183 | 1,014,263 | |
5% 9/1/35 to 12/1/52 | 686,755 | 684,027 | |
5.5% 5/1/53 | 514,045 | 516,418 | |
6% 1/1/24 | 1,159 | 1,156 | |
TOTAL FREDDIE MAC | 6,614,941 | ||
Ginnie Mae - 2.3% | |||
6% 6/15/36 | 117,175 | 121,322 | |
8% 12/15/23 | 48 | 48 | |
2% 2/20/51 | 49,542 | 42,131 | |
2% 6/1/53 (f) | 150,000 | 127,195 | |
2% 6/1/53 (f) | 1,900,000 | 1,611,139 | |
2% 6/1/53 (f) | 650,000 | 551,179 | |
2% 6/1/53 (f) | 1,000,000 | 847,968 | |
2% 7/1/53 (f) | 1,000,000 | 848,827 | |
2% 7/1/53 (f) | 1,300,000 | 1,103,475 | |
2% 7/1/53 (f) | 350,000 | 297,089 | |
3.5% 2/20/50 | 9,743 | 9,134 | |
4% 6/1/53 (f) | 250,000 | 237,564 | |
5.47% 8/20/59 (b)(g) | 97 | 91 | |
5.5% 6/1/53 (f) | 400,000 | 399,560 | |
5.5% 6/1/53 (f) | 200,000 | 199,780 | |
TOTAL GINNIE MAE | 6,396,502 | ||
Uniform Mortgage Backed Securities - 3.8% | |||
4% 6/1/53 (f) | 1,200,000 | 1,133,625 | |
4% 6/1/53 (f) | 750,000 | 708,516 | |
4% 6/1/53 (f) | 50,000 | 47,234 | |
5% 6/1/38 (f) | 275,000 | 274,302 | |
5% 6/1/38 (f) | 550,000 | 548,603 | |
5% 6/1/38 (f) | 675,000 | 673,286 | |
5% 6/1/38 (f) | 400,000 | 398,984 | |
5% 6/1/38 (f) | 200,000 | 199,492 | |
5% 6/1/38 (f) | 200,000 | 199,492 | |
5.5% 6/1/53 (f) | 2,300,000 | 2,298,473 | |
5.5% 6/1/53 (f) | 2,300,000 | 2,298,473 | |
5.5% 6/1/53 (f) | 400,000 | 399,734 | |
5.5% 6/1/53 (f) | 1,500,000 | 1,499,004 | |
TOTAL UNIFORM MORTGAGE BACKED SECURITIES | 10,679,218 | ||
TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES (Cost $35,020,948) | 34,181,251 | ||
Collateralized Mortgage Obligations - 5.4% | |||
Principal Amount (a) | Value ($) | ||
U.S. Government Agency - 5.4% | |||
Fannie Mae: | |||
floater: | |||
Series 1994-42 Class FK, 10-Year Treasury Constant Maturity Rate - 0.500% 3.08% 4/25/24 (b)(c) | 6,370 | 6,333 | |
Series 2001-38 Class QF, 1 month U.S. LIBOR + 0.980% 6.118% 8/25/31 (b)(c) | 12,387 | 12,461 | |
Series 2002-49 Class FB, 1 month U.S. LIBOR + 0.600% 5.7113% 11/18/31 (b)(c) | 12,865 | 12,790 | |
Series 2002-60 Class FV, 1 month U.S. LIBOR + 1.000% 6.138% 4/25/32 (b)(c) | 2,741 | 2,756 | |
Series 2002-74 Class FV, 1 month U.S. LIBOR + 0.450% 5.588% 11/25/32 (b)(c) | 47,707 | 47,633 | |
Series 2002-75 Class FA, 1 month U.S. LIBOR + 1.000% 6.138% 11/25/32 (b)(c) | 5,616 | 5,646 | |
Series 2010-15 Class FJ, 1 month U.S. LIBOR + 0.930% 6.068% 6/25/36 (b)(c) | 158,350 | 159,184 | |
planned amortization class Series 2005-64 Class PX, 5.5% 6/25/35 | 10,400 | 10,343 | |
sequential payer: | |||
Series 2003-117 Class MD, 5% 12/25/23 | 779 | 776 | |
Series 2004-52 Class KZ, 5.5% 7/25/34 | 256,535 | 258,756 | |
Series 2022-1 Class KA, 3% 5/25/48 | 166,325 | 151,435 | |
Series 2022-13 Class MA, 3% 5/25/44 | 704,020 | 660,083 | |
Series 2022-3 Class N, 2% 10/25/47 | 1,300,000 | 1,125,413 | |
Series 2022-35 Class CK, 4% 3/25/47 | 1,400,465 | 1,343,379 | |
Series 2022-49 Class TE, 4.5% 12/25/48 | 1,239,453 | 1,209,747 | |
Series 2022-65 Class GA, 5% 4/25/46 | 1,223,996 | 1,206,915 | |
Series 2022-7 Class A, 3% 5/25/48 | 236,646 | 215,488 | |
Series 2010-139 Class NI, 4.5% 2/25/40 (h) | 18,181 | 286 | |
Series 2010-39 Class FG, 1 month U.S. LIBOR + 0.920% 6.058% 3/25/36 (b)(c) | 108,729 | 109,269 | |
Series 2011-67 Class AI, 4% 7/25/26 (h) | 5,667 | 138 | |
Freddie Mac: | |||
floater: | |||
Series 2448 Class FT, 1 month U.S. LIBOR + 1.000% 6.1074% 3/15/32 (b)(c) | 13,213 | 13,277 | |
Series 2526 Class FC, 1 month U.S. LIBOR + 0.400% 5.5074% 11/15/32 (b)(c) | 13,099 | 13,013 | |
Series 2530 Class FE, 1 month U.S. LIBOR + 0.600% 5.7074% 2/15/32 (b)(c) | 7,107 | 7,083 | |
Series 2711 Class FC, 1 month U.S. LIBOR + 0.900% 6.0074% 2/15/33 (b)(c) | 36,780 | 36,862 | |
floater planned amortization class Series 2770 Class FH, 1 month U.S. LIBOR + 0.400% 5.5074% 3/15/34 (b)(c) | 47,968 | 47,410 | |
planned amortization class Series 3415 Class PC, 5% 12/15/37 | 19,166 | 19,019 | |
sequential payer: | |||
Series 1929 Class EZ, 7.5% 2/17/27 | 12,364 | 12,500 | |
Series 2004-2802 Class ZG, 5.5% 5/15/34 | 225,414 | 231,753 | |
Series 2004-2862 Class NE, 5% 9/15/24 | 8,709 | 8,683 | |
Series 2022-5189 Class DA, 2.5% 5/25/49 | 135,674 | 117,695 | |
Series 2022-5190 Class BA, 2.5% 11/25/47 | 120,205 | 106,362 | |
Series 2022-5197 Class DA, 2.5% 11/25/47 | 91,309 | 80,800 | |
Series 2022-5198 Class BA, 2.5% 11/25/47 | 492,832 | 442,070 | |
Series 2022-5202 Class LB, 2.5% 10/25/47 | 97,473 | 86,011 | |
Series 2145 Class MZ, 6.5% 4/15/29 | 42,656 | 43,266 | |
Series 2357 Class ZB, 6.5% 9/15/31 | 38,189 | 39,197 | |
Series 3859 Class JZ, 5% 5/15/41 | 280,649 | 283,575 | |
Series 2021-5083 Class VA, 1% 8/15/38 | 1,499,912 | 1,394,159 | |
Ginnie Mae guaranteed REMIC pass-thru certificates: | |||
floater: | |||
Series 2007-59 Class FC, 1 month U.S. LIBOR + 0.500% 5.6484% 7/20/37 (b)(c) | 29,075 | 28,744 | |
Series 2008-2 Class FD, 1 month U.S. LIBOR + 0.480% 5.6284% 1/20/38 (b)(c) | 7,520 | 7,426 | |
Series 2008-73 Class FA, 1 month U.S. LIBOR + 0.860% 6.0084% 8/20/38 (b)(c) | 59,473 | 59,640 | |
Series 2008-83 Class FB, 1 month U.S. LIBOR + 0.900% 6.0484% 9/20/38 (b)(c) | 43,578 | 43,765 | |
Series 2009-108 Class CF, 1 month U.S. LIBOR + 0.600% 5.7054% 11/16/39 (b)(c) | 35,479 | 35,165 | |
Series 2009-116 Class KF, 1 month U.S. LIBOR + 0.530% 5.6354% 12/16/39 (b)(c) | 21,810 | 21,551 | |
Series 2010-H17 Class FA, 1 month U.S. LIBOR + 0.330% 5.3477% 7/20/60 (b)(c)(g) | 405,133 | 401,309 | |
Series 2010-H18 Class AF, 1 month U.S. LIBOR + 0.300% 5.1577% 9/20/60 (b)(c)(g) | 455,664 | 451,418 | |
Series 2010-H19 Class FG, 1 month U.S. LIBOR + 0.300% 5.1577% 8/20/60 (b)(c)(g) | 352,938 | 349,549 | |
Series 2010-H27 Class FA, 1 month U.S. LIBOR + 0.380% 5.2377% 12/20/60 (b)(c)(g) | 165,046 | 163,691 | |
Series 2011-H05 Class FA, 1 month U.S. LIBOR + 0.500% 5.3577% 12/20/60 (b)(c)(g) | 150,791 | 149,909 | |
Series 2011-H07 Class FA, 1 month U.S. LIBOR + 0.500% 5.3577% 2/20/61 (b)(c)(g) | 125,836 | 124,960 | |
Series 2011-H12 Class FA, 1 month U.S. LIBOR + 0.490% 5.3477% 2/20/61 (b)(c)(g) | 174,979 | 173,794 | |
Series 2011-H13 Class FA, 1 month U.S. LIBOR + 0.500% 5.3577% 4/20/61 (b)(c)(g) | 129,069 | 128,214 | |
Series 2011-H14: | |||
Class FB, 1 month U.S. LIBOR + 0.500% 5.3577% 5/20/61 (b)(c)(g) | 194,581 | 193,506 | |
Class FC, 1 month U.S. LIBOR + 0.500% 5.3577% 5/20/61 (b)(c)(g) | 145,324 | 144,450 | |
Series 2011-H17 Class FA, 1 month U.S. LIBOR + 0.530% 5.3877% 6/20/61 (b)(c)(g) | 162,590 | 161,688 | |
Series 2011-H21 Class FA, 1 month U.S. LIBOR + 0.600% 5.4577% 10/20/61 (b)(c)(g) | 174,460 | 173,661 | |
Series 2012-H01 Class FA, 1 month U.S. LIBOR + 0.700% 5.5577% 11/20/61 (b)(c)(g) | 171,355 | 170,707 | |
Series 2012-H03 Class FA, 1 month U.S. LIBOR + 0.700% 5.5577% 1/20/62 (b)(c)(g) | 95,354 | 95,000 | |
Series 2012-H06 Class FA, 1 month U.S. LIBOR + 0.630% 5.4877% 1/20/62 (b)(c)(g) | 164,722 | 163,923 | |
Series 2012-H07 Class FA, 1 month U.S. LIBOR + 0.630% 5.4877% 3/20/62 (b)(c)(g) | 78,438 | 77,986 | |
Series 2012-H21 Class DF, 1 month U.S. LIBOR + 0.650% 4.8719% 5/20/61 (b)(c)(g) | 1,457 | 1,438 | |
Series 2015-H13 Class FL, 1 month U.S. LIBOR + 0.280% 4.9101% 5/20/63 (b)(c)(g) | 2,378 | 2,331 | |
Series 2015-H19 Class FA, 1 month U.S. LIBOR + 0.200% 4.9322% 4/20/63 (b)(c)(g) | 3,187 | 3,134 | |
Series 2016-H20 Class FM, 1 month U.S. LIBOR + 0.400% 4.5948% 12/20/62 (b)(c)(g) | 4,181 | 4,083 | |
planned amortization class: | |||
Series 2011-68 Class EC, 3.5% 4/20/41 | 114,502 | 110,167 | |
Series 2017-134 Class BA, 2.5% 11/20/46 | 32,224 | 29,081 | |
sequential payer: | |||
Series 2014-H04 Class HA, 2.75% 2/20/64 (g) | 245,289 | 240,911 | |
Series 2018-H12 Class HA, 3.25% 8/20/68 (g) | 638,165 | 613,734 | |
Series 2010-H18 Class PL, 5.01% 9/20/60 (b)(g) | 5,172 | 5,110 | |
Series 2013-H08 Class MA, 3% 3/20/63 (g) | 2,272 | 2,123 | |
Series 2015-H30 Class HA, 1.75% 9/20/62 (b)(g) | 13,075 | 12,495 | |
Series 2016-H13 Class FB, U.S. TREASURY 1 YEAR INDEX + 0.500% 5.08% 5/20/66 (b)(c)(g) | 427,738 | 426,308 | |
Series 2017-H06 Class FA, U.S. TREASURY 1 YEAR INDEX + 0.350% 4.93% 8/20/66 (b)(c)(g) | 541,268 | 538,350 | |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $14,916,159) | 14,830,887 | ||
Commercial Mortgage Securities - 2.3% | |||
Principal Amount (a) | Value ($) | ||
Freddie Mac: | |||
sequential payer: | |||
Series 2015-K043 Class A2, 3.062% 12/25/24 | 913,000 | 884,948 | |
Series 2015-K049 Class A2, 3.01% 7/25/25 | 25,000 | 24,157 | |
Series 2015-K050 Class A2, 3.334% 8/25/25 (b) | 990,127 | 962,220 | |
Series 2015-K051 Class A2, 3.308% 9/25/25 | 39,000 | 37,865 | |
Series 2016-K052 Class A2, 3.151% 11/25/25 | 1,115,675 | 1,078,873 | |
Series 2017-K729 Class A2, 3.136% 10/25/24 | 600,000 | 583,220 | |
Series 2021-K136 Class A2, 2.127% 11/25/31 | 840,000 | 708,108 | |
Series 2022-150 Class A2, 3.71% 9/25/32 | 400,000 | 380,088 | |
Series 2017-K727 Class A2, 2.946% 7/25/24 | 1,122,479 | 1,093,380 | |
Freddie Mac Multi-family Structured pass-thru certificates Series K044 Class A2, 2.811% 1/25/25 | 657,107 | 634,819 | |
TOTAL COMMERCIAL MORTGAGE SECURITIES (Cost $6,583,493) | 6,387,678 | ||
Money Market Funds - 4.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (i) (Cost $11,531,071) | 11,528,766 | 11,531,072 | |
TOTAL INVESTMENT IN SECURITIES - 106.6% (Cost $305,542,615) | 295,136,927 |
NET OTHER ASSETS (LIABILITIES) - (6.6)% | (18,257,887) |
NET ASSETS - 100.0% | 276,879,040 |
TBA Sale Commitments | ||
Principal Amount (a) | Value ($) | |
Ginnie Mae | ||
2% 6/1/53 | (350,000) | (296,789) |
2% 6/1/53 | (1,000,000) | (847,968) |
2% 6/1/53 | (1,300,000) | (1,102,357) |
TOTAL GINNIE MAE | (2,247,114) | |
Uniform Mortgage Backed Securities | ||
3.5% 6/1/53 | (400,000) | (366,969) |
3.5% 6/1/53 | (400,000) | (366,969) |
4% 6/1/53 | (1,000,000) | (944,688) |
4% 6/1/53 | (900,000) | (850,219) |
4% 6/1/53 | (100,000) | (94,469) |
5.5% 6/1/53 | (1,100,000) | (1,099,269) |
5.5% 6/1/53 | (250,000) | (249,834) |
5.5% 6/1/53 | (150,000) | (149,900) |
TOTAL UNIFORM MORTGAGE BACKED SECURITIES | (4,122,317) | |
TOTAL TBA SALE COMMITMENTS (Proceeds $6,365,289) | (6,369,431) |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Treasury Contracts | |||||
CBOT 2-Year U.S. Treasury Note Contracts (United States) | 228 | Sep 2023 | 46,928,813 | (113,732) | (113,732) |
CBOT 5-Year U.S. Treasury Note Contracts (United States) | 74 | Sep 2023 | 8,071,781 | (7,157) | (7,157) |
TOTAL PURCHASED | (120,889) | ||||
Sold | |||||
Treasury Contracts | |||||
CBOT 10-Year U.S. Treasury Note Contracts (United States) | 66 | Sep 2023 | 7,554,938 | (14,764) | (14,764) |
TOTAL FUTURES CONTRACTS | (135,653) | ||||
The notional amount of futures purchased as a percentage of Net Assets is 19.8% | |||||
The notional amount of futures sold as a percentage of Net Assets is 2.7% |
Interest Rate Swaps | ||||||||||
Payment Received | Payment Frequency | Payment Paid | Payment Frequency | Clearinghouse / Counterparty (1) | Maturity Date | Notional Amount (2) | Value ($) | Upfront Premium Received/ (Paid) ($) (3) | Unrealized Appreciation/ (Depreciation) ($) | |
3.75% | Annual | U.S. Secured Overnight Fin. Rate (SOFR) Index (4) | Annual | LCH | Jun 2025 | 3,287,000 | 35,925 | 0 | 35,925 | |
3.25% | Annual | U.S. Secured Overnight Fin. Rate (SOFR) Index (4) | Annual | LCH | Jun 2028 | 392,000 | 7,839 | 0 | 7,839 | |
3% | Annual | U.S. Secured Overnight Fin. Rate (SOFR) Index (4) | Annual | LCH | Jun 2030 | 698,000 | 16,097 | 0 | 16,097 | |
2.75% | Annual | U.S. Secured Overnight Fin. Rate (SOFR) Index (4) | Annual | LCH | Jun 2053 | 176,000 | 1,529 | 0 | 1,529 | |
TOTAL INTEREST RATE SWAPS | 61,390 | 0 | 61,390 |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $385,489. |
(e) | Security or a portion of the security was pledged to cover margin requirements for centrally cleared OTC swaps. At period end, the value of securities pledged amounted to $141,877. |
(f) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(g) | Represents an investment in an underlying pool of reverse mortgages which typically do not require regular principal and interest payments as repayment is deferred until a maturity event. |
(h) | Interest Only (IO) security represents the right to receive only monthly interest payments on an underlying pool of mortgages or assets. Principal shown is the outstanding par amount of the pool as of the end of the period. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.14% | 44,236,072 | 62,073,701 | 94,778,701 | 501,350 | - | - | 11,531,072 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.14% | - | 82,373,444 | 82,373,444 | 7,878 | - | - | - | 0.0% |
Total | 44,236,072 | 144,447,145 | 177,152,145 | 509,228 | - | - | 11,531,072 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
U.S. Government and Government Agency Obligations | 228,206,039 | - | 228,206,039 | - |
U.S. Government Agency - Mortgage Securities | 34,181,251 | - | 34,181,251 | - |
Collateralized Mortgage Obligations | 14,830,887 | - | 14,830,887 | - |
Commercial Mortgage Securities | 6,387,678 | - | 6,387,678 | - |
Money Market Funds | 11,531,072 | 11,531,072 | - | - |
Total Investments in Securities: | 295,136,927 | 11,531,072 | 283,605,855 | - |
Derivative Instruments: | ||||
Assets | ||||
Swaps | 61,390 | - | 61,390 | - |
Total Assets | 61,390 | - | 61,390 | - |
Liabilities | ||||
Futures Contracts | (135,653) | (135,653) | - | - |
Total Liabilities | (135,653) | (135,653) | - | - |
Total Derivative Instruments: | (74,263) | (135,653) | 61,390 | - |
Other Financial Instruments: | ||||
TBA Sale Commitments | (6,369,431) | - | (6,369,431) | - |
Total Other Financial Instruments: | (6,369,431) | - | (6,369,431) | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Interest Rate Risk | ||
Futures Contracts (a) | 0 | (135,653) |
Swaps (b) | 61,390 | 0 |
Total Interest Rate Risk | 61,390 | (135,653) |
Total Value of Derivatives | 61,390 | (135,653) |
Statement of Assets and Liabilities | ||||
May 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $294,011,544) | $ | 283,605,855 | ||
Fidelity Central Funds (cost $11,531,071) | 11,531,072 | |||
Total Investment in Securities (cost $305,542,615) | $ | 295,136,927 | ||
Cash | 348,436 | |||
Receivable for investments sold | 637 | |||
Receivable for TBA sale commitments | 6,365,289 | |||
Receivable for fund shares sold | 152,225 | |||
Interest receivable | 1,453,577 | |||
Distributions receivable from Fidelity Central Funds | 52,168 | |||
Receivable for daily variation margin on futures contracts | 63,799 | |||
Receivable for daily variation margin on centrally cleared OTC swaps | 10,444 | |||
Total assets | 303,583,502 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 1,435,025 | ||
Delayed delivery | 16,931,313 | |||
TBA sale commitments, at value | 6,369,431 | |||
Payable for fund shares redeemed | 1,865,812 | |||
Distributions payable | 32,747 | |||
Accrued management fee | 46,751 | |||
Other affiliated payables | 23,383 | |||
Total Liabilities | 26,704,462 | |||
Net Assets | $ | 276,879,040 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 301,787,558 | ||
Total accumulated earnings (loss) | (24,908,518) | |||
Net Assets | $ | 276,879,040 | ||
Net Asset Value , offering price and redemption price per share ($276,879,040 ÷ 29,281,887 shares) | $ | 9.46 |
Statement of Operations | ||||
Six months ended May 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Interest | $ | 2,839,389 | ||
Income from Fidelity Central Funds (including $7,878 from security lending) | 509,228 | |||
Total Income | 3,348,617 | |||
Expenses | ||||
Management fee | $ | 518,630 | ||
Transfer agent fees | 46,797 | |||
Independent trustees' fees and expenses | 506 | |||
Total expenses before reductions | 565,933 | |||
Expense reductions | (484) | |||
Total expenses after reductions | 565,449 | |||
Net Investment income (loss) | 2,783,168 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,670,016) | |||
Futures contracts | (159,650) | |||
Swaps | (134,754) | |||
Total net realized gain (loss) | (1,964,420) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 3,656,789 | |||
Futures contracts | (355,434) | |||
Swaps | 105,900 | |||
TBA Sale commitments | 251,054 | |||
Total change in net unrealized appreciation (depreciation) | 3,658,309 | |||
Net gain (loss) | 1,693,889 | |||
Net increase (decrease) in net assets resulting from operations | $ | 4,477,057 |
Statement of Changes in Net Assets | ||||
Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,783,168 | $ | 2,650,858 |
Net realized gain (loss) | (1,964,420) | (10,865,894) | ||
Change in net unrealized appreciation (depreciation) | 3,658,309 | (14,873,460) | ||
Net increase (decrease) in net assets resulting from operations | 4,477,057 | (23,088,496) | ||
Distributions to shareholders | (2,789,379) | (2,577,273) | ||
Share transactions | ||||
Proceeds from sales of shares | 30,197,483 | 68,978,006 | ||
Reinvestment of distributions | 2,600,620 | 2,416,577 | ||
Cost of shares redeemed | (47,122,392) | (143,021,563) | ||
Net increase (decrease) in net assets resulting from share transactions | (14,324,289) | (71,626,980) | ||
Total increase (decrease) in net assets | (12,636,611) | (97,292,749) | ||
Net Assets | ||||
Beginning of period | 289,515,651 | 386,808,400 | ||
End of period | $ | 276,879,040 | $ | 289,515,651 |
Other Information | ||||
Shares | ||||
Sold | 3,190,814 | 7,058,756 | ||
Issued in reinvestment of distributions | 275,300 | 252,526 | ||
Redeemed | (4,987,981) | (14,732,576) | ||
Net increase (decrease) | (1,521,867) | (7,421,294) | ||
Fidelity® Limited Term Government Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 9.40 | $ | 10.12 | $ | 10.33 | $ | 10.05 | $ | 9.77 | $ | 9.88 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .093 | .077 | .052 | .108 | .188 | .142 | ||||||
Net realized and unrealized gain (loss) | .072 | (.720) | (.179) | .279 | .276 | (.123) | ||||||
Total from investment operations | .165 | (.643) | (.127) | .387 | .464 | .019 | ||||||
Distributions from net investment income | (.105) | (.077) | (.049) | (.107) | (.184) | (.129) | ||||||
Distributions from net realized gain | - | - | (.034) | - | - | - | ||||||
Total distributions | (.105) | (.077) | (.083) | (.107) | (.184) | (.129) | ||||||
Net asset value, end of period | $ | 9.46 | $ | 9.40 | $ | 10.12 | $ | 10.33 | $ | 10.05 | $ | 9.77 |
Total Return C,D | 1.64% | (6.37)% | (1.24)% | 3.89% | 4.78% | .20% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .40% G | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of fee waivers, if any | .40% G | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of all reductions | .40% G | .45% | .45% | .45% | .45% | .45% | ||||||
Net investment income (loss) | 1.97% G | .79% | .51% | 1.05% | 1.88% | 1.45% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 276,879 | $ | 289,516 | $ | 386,808 | $ | 515,479 | $ | 325,273 | $ | 313,739 |
Portfolio turnover rate H | 126% G | 132% | 91% | 110% | 160% | 124% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
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 | $468,194 |
Gross unrealized depreciation | (10,742,598) |
Net unrealized appreciation (depreciation) | $(10,274,404) |
Tax cost | $305,341,210 |
Short-term | $(6,878,397) |
Long-term | (5,738,853) |
Total capital loss carryforward | $(12,617,250) |
Interest Rate Risk | Interest rate risk relates to the fluctuations in the value of interest-bearing securities due to changes in the prevailing levels of market interest rates. |
Primary Risk Exposure / Derivative Type | Net Realized Gain (Loss) | Change in Net Unrealized Appreciation (Depreciation) |
Fidelity Limited Term Government Fund | ||
Interest Rate Risk | ||
Futures Contracts | (159,650) | (355,434) |
Swaps | (134,754) | 105,900 |
Total Interest Rate Risk | (294,404) | (249,534) |
Totals | $(294,404) | $(249,534) |
Purchases ($) | Sales ($) | |
Fidelity Limited Term Government Fund | 63,594,148 | 72,228,394 |
Management Fee Annual % of Average Net Assets | Expense Contract Annual % of Average Net Assets | |
Fidelity Limited Term Government Fund | .20% | .35% |
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 Limited Term Government Fund | $858 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Limited Term Government Fund ** | .40% | |||||||||
Actual | $ 1,000 | $ 1,016.40 | $ 2.01 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.94 | $ 2.02 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Limited Term Government Fund | .35% | |||||
Actual | $ 1.76 | |||||
Hypothetical - B | $ 1.77 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
At its March 2023 meeting, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve an amended and restated management contract with Fidelity Management & Research Company LLC (FMR) for the fund (the Amended Contract) that will charge a flat management fee covering fund-level expenses of 20 basis points. The Board also voted to approve an expense contract between FMR and the fund which would obligate FMR to pay any class level expenses so that ordinary operating expenses incurred by the fund, with certain limited exceptions, will not exceed 35 basis points (the Expense Contract). It was noted that the Expense Contract was changeable only by vote of the Board and fund shareholders. The Board also noted that the Amended Contract and the Expense Contract would each be effective April 1, 2023. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, considered a broad range of information.
- 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 IV’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 IV’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 13.
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 IV
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | July 20, 2023 |
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/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | July 20, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | July 20, 2023 |