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 811-03785
Fidelity Advisor Series I
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, 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: | December 31 |
Date of reporting period: | June 30, 2022 |
Item 1.
Reports to Stockholders
![](https://capedge.com/proxy/N-CSRS/0000722574-22-000108/img84950_1.jpg)
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Contents
Board Approval of Investment Advisory Contracts and Management Fees |
Top Holdings (% of Fund's net assets) | ||
BJ's Wholesale Club Holdings, Inc. | 1.5 | |
Wintrust Financial Corp. | 1.3 | |
Churchill Downs, Inc. | 1.3 | |
OGE Energy Corp. | 1.3 | |
Deckers Outdoor Corp. | 1.2 | |
ITT, Inc. | 1.2 | |
Jabil, Inc. | 1.2 | |
KBR, Inc. | 1.1 | |
Builders FirstSource, Inc. | 1.1 | |
East West Bancorp, Inc. | 1.1 | |
12.3 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 18.4 | |
Financials | 14.8 | |
Information Technology | 12.0 | |
Consumer Discretionary | 10.9 | |
Health Care | 10.5 | |
Real Estate | 8.5 | |
Materials | 7.1 | |
Energy | 5.6 | |
Utilities | 4.6 | |
Consumer Staples | 4.6 | |
Communication Services | 1.7 | |
Asset Allocation (% of Fund's net assets) |
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Geographic Diversification (% of Fund's net assets) |
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* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable. |
Common Stocks - 98.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 1.7% | |||
Entertainment - 0.2% | |||
Live Nation Entertainment, Inc. (a) | 34,400 | 2,840,752 | |
Interactive Media & Services - 0.7% | |||
Bumble, Inc. (a)(b) | 236,300 | 6,651,845 | |
IAC (a) | 32,700 | 2,484,219 | |
9,136,064 | |||
Media - 0.8% | |||
Interpublic Group of Companies, Inc. | 345,594 | 9,514,203 | |
TOTAL COMMUNICATION SERVICES | 21,491,019 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Distributors - 0.1% | |||
Pool Corp. | 3,700 | 1,299,551 | |
Hotels, Restaurants & Leisure - 4.1% | |||
ARAMARK Holdings Corp. | 248,900 | 7,623,807 | |
Caesars Entertainment, Inc. (a) | 156,149 | 5,980,507 | |
Churchill Downs, Inc. | 86,900 | 16,643,957 | |
Domino's Pizza, Inc. | 14,700 | 5,728,737 | |
Flight Centre Travel Group Ltd. (a) | 188,567 | 2,259,549 | |
Hilton Grand Vacations, Inc. (a) | 76,700 | 2,740,491 | |
Jubilant Foodworks Ltd. | 152,980 | 992,389 | |
Light & Wonder, Inc. Class A (a) | 33,200 | 1,560,068 | |
Noodles & Co. (a) | 616,200 | 2,896,140 | |
Planet Fitness, Inc. (a) | 42,600 | 2,897,226 | |
Vail Resorts, Inc. | 16,900 | 3,685,045 | |
53,007,916 | |||
Household Durables - 1.5% | |||
GoPro, Inc. Class A (a) | 421,100 | 2,328,683 | |
KB Home | 59,400 | 1,690,524 | |
Lovesac (a) | 48,317 | 1,328,718 | |
NVR, Inc. (a) | 1,115 | 4,464,616 | |
Taylor Morrison Home Corp. (a) | 235,000 | 5,489,600 | |
Toll Brothers, Inc. | 81,900 | 3,652,740 | |
18,954,881 | |||
Internet & Direct Marketing Retail - 0.1% | |||
Revolve Group, Inc. (a) | 70,500 | 1,826,655 | |
Leisure Products - 0.3% | |||
YETI Holdings, Inc. (a)(b) | 93,200 | 4,032,764 | |
Specialty Retail - 3.1% | |||
Academy Sports & Outdoors, Inc. (b) | 151,700 | 5,391,418 | |
America's Car Mart, Inc. (a) | 22,100 | 2,223,260 | |
Burlington Stores, Inc. (a) | 18,500 | 2,520,255 | |
Dick's Sporting Goods, Inc. (b) | 73,500 | 5,539,695 | |
Five Below, Inc. (a) | 96,200 | 10,911,966 | |
Williams-Sonoma, Inc. (b) | 121,500 | 13,480,425 | |
40,067,019 | |||
Textiles, Apparel & Luxury Goods - 1.7% | |||
Capri Holdings Ltd. (a) | 161,700 | 6,631,317 | |
Deckers Outdoor Corp. (a) | 60,475 | 15,442,291 | |
22,073,608 | |||
TOTAL CONSUMER DISCRETIONARY | 141,262,394 | ||
CONSUMER STAPLES - 4.6% | |||
Beverages - 0.6% | |||
Boston Beer Co., Inc. Class A (a) | 26,500 | 8,028,705 | |
Food & Staples Retailing - 3.1% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 306,300 | 19,088,613 | |
Grocery Outlet Holding Corp. (a)(b) | 78,100 | 3,329,403 | |
Performance Food Group Co. (a) | 32,100 | 1,475,958 | |
Sprouts Farmers Market LLC (a) | 126,300 | 3,197,916 | |
U.S. Foods Holding Corp. (a) | 340,300 | 10,440,404 | |
United Natural Foods, Inc. (a) | 49,200 | 1,938,480 | |
39,470,774 | |||
Food Products - 0.5% | |||
Nomad Foods Ltd. (a) | 293,800 | 5,873,062 | |
Household Products - 0.4% | |||
Spectrum Brands Holdings, Inc. | 68,000 | 5,577,360 | |
TOTAL CONSUMER STAPLES | 58,949,901 | ||
ENERGY - 5.6% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 231,800 | 6,692,066 | |
Championx Corp. | 140,200 | 2,782,970 | |
Nextier Oilfield Solutions, Inc. (a) | 304,200 | 2,892,942 | |
TechnipFMC PLC (a) | 879,700 | 5,920,381 | |
18,288,359 | |||
Oil, Gas & Consumable Fuels - 4.2% | |||
Antero Resources Corp. (a) | 215,000 | 6,589,750 | |
Cheniere Energy, Inc. | 99,100 | 13,183,273 | |
Genesis Energy LP | 184,500 | 1,479,690 | |
Hess Corp. | 91,700 | 9,714,698 | |
Magnolia Oil & Gas Corp. Class A | 442,500 | 9,288,075 | |
New Fortress Energy, Inc. | 117,614 | 4,653,986 | |
Range Resources Corp. (a) | 349,097 | 8,640,151 | |
53,549,623 | |||
TOTAL ENERGY | 71,837,982 | ||
FINANCIALS - 14.8% | |||
Banks - 7.1% | |||
Bancorp, Inc., Delaware (a) | 356,100 | 6,951,072 | |
Comerica, Inc. | 70,300 | 5,158,614 | |
East West Bancorp, Inc. | 215,900 | 13,990,320 | |
First Foundation, Inc. | 80,166 | 1,641,800 | |
First Horizon National Corp. | 340,000 | 7,432,400 | |
First Republic Bank | 35,600 | 5,133,520 | |
Huntington Bancshares, Inc. | 674,657 | 8,116,124 | |
M&T Bank Corp. | 48,100 | 7,666,659 | |
Meta Financial Group, Inc. | 132,000 | 5,104,440 | |
Popular, Inc. | 84,800 | 6,523,664 | |
Signature Bank | 37,400 | 6,702,454 | |
Wintrust Financial Corp. | 208,100 | 16,679,215 | |
91,100,282 | |||
Capital Markets - 2.2% | |||
Ameriprise Financial, Inc. | 26,287 | 6,247,894 | |
Northern Trust Corp. | 86,000 | 8,297,280 | |
Raymond James Financial, Inc. | 87,086 | 7,786,359 | |
TMX Group Ltd. | 57,300 | 5,831,495 | |
28,163,028 | |||
Diversified Financial Services - 0.5% | |||
Equitable Holdings, Inc. | 239,900 | 6,254,193 | |
Insurance - 4.7% | |||
American Financial Group, Inc. | 42,300 | 5,871,663 | |
Arch Capital Group Ltd. (a) | 105,800 | 4,812,842 | |
Assurant, Inc. | 62,800 | 10,854,980 | |
Hartford Financial Services Group, Inc. | 133,200 | 8,715,276 | |
Old Republic International Corp. | 370,500 | 8,284,380 | |
Primerica, Inc. | 94,858 | 11,353,554 | |
Reinsurance Group of America, Inc. | 95,291 | 11,176,681 | |
61,069,376 | |||
Thrifts & Mortgage Finance - 0.3% | |||
Essent Group Ltd. | 117,729 | 4,579,658 | |
TOTAL FINANCIALS | 191,166,537 | ||
HEALTH CARE - 10.5% | |||
Biotechnology - 1.2% | |||
Argenx SE ADR (a) | 7,000 | 2,652,160 | |
Blueprint Medicines Corp. (a) | 24,600 | 1,242,546 | |
Exelixis, Inc. (a) | 331,100 | 6,893,502 | |
Legend Biotech Corp. ADR (a) | 33,600 | 1,848,000 | |
Neurocrine Biosciences, Inc. (a) | 33,600 | 3,275,328 | |
15,911,536 | |||
Health Care Equipment & Supplies - 2.9% | |||
Boston Scientific Corp. (a) | 156,310 | 5,825,674 | |
Envista Holdings Corp. (a) | 201,800 | 7,777,372 | |
Hologic, Inc. (a) | 61,379 | 4,253,565 | |
JEOL Ltd. | 69,000 | 2,659,714 | |
ResMed, Inc. | 18,227 | 3,820,926 | |
Tandem Diabetes Care, Inc. (a) | 20,500 | 1,213,395 | |
The Cooper Companies, Inc. | 16,439 | 5,147,380 | |
Zimmer Biomet Holdings, Inc. | 67,500 | 7,091,550 | |
37,789,576 | |||
Health Care Providers & Services - 2.7% | |||
Centene Corp. (a) | 115,500 | 9,772,455 | |
Guardant Health, Inc. (a) | 23,400 | 943,956 | |
Molina Healthcare, Inc. (a) | 41,300 | 11,547,893 | |
Option Care Health, Inc. (a) | 424,300 | 11,791,297 | |
34,055,601 | |||
Life Sciences Tools & Services - 2.3% | |||
Avantor, Inc. (a) | 229,200 | 7,128,120 | |
Bio-Rad Laboratories, Inc. Class A (a) | 7,600 | 3,762,000 | |
ICON PLC (a) | 15,500 | 3,358,850 | |
Maravai LifeSciences Holdings, Inc. (a) | 144,300 | 4,099,563 | |
Syneos Health, Inc. (a) | 107,800 | 7,727,104 | |
Thermo Fisher Scientific, Inc. | 6,430 | 3,493,290 | |
29,568,927 | |||
Pharmaceuticals - 1.4% | |||
Royalty Pharma PLC | 229,800 | 9,660,792 | |
UCB SA | 100,500 | 8,492,922 | |
18,153,714 | |||
TOTAL HEALTH CARE | 135,479,354 | ||
INDUSTRIALS - 18.4% | |||
Aerospace & Defense - 1.2% | |||
Axon Enterprise, Inc. (a) | 46,100 | 4,295,137 | |
Howmet Aerospace, Inc. | 229,800 | 7,227,210 | |
Spirit AeroSystems Holdings, Inc. Class A | 120,500 | 3,530,650 | |
15,052,997 | |||
Air Freight & Logistics - 0.6% | |||
Air Transport Services Group, Inc. (a) | 172,800 | 4,964,544 | |
GXO Logistics, Inc. (a) | 63,188 | 2,734,145 | |
7,698,689 | |||
Airlines - 0.2% | |||
Jet2 PLC (a) | 210,200 | 2,317,729 | |
Building Products - 1.3% | |||
Builders FirstSource, Inc. (a) | 262,900 | 14,117,730 | |
UFP Industries, Inc. | 49,800 | 3,393,372 | |
17,511,102 | |||
Commercial Services & Supplies - 0.5% | |||
Driven Brands Holdings, Inc. (a)(b) | 241,100 | 6,639,894 | |
Construction & Engineering - 1.8% | |||
Quanta Services, Inc. | 96,700 | 12,120,378 | |
Willscot Mobile Mini Holdings (a) | 334,500 | 10,844,490 | |
22,964,868 | |||
Electrical Equipment - 3.4% | |||
Acuity Brands, Inc. | 62,500 | 9,627,500 | |
AMETEK, Inc. | 85,300 | 9,373,617 | |
Generac Holdings, Inc. (a) | 42,700 | 8,991,766 | |
Regal Rexnord Corp. | 81,202 | 9,218,051 | |
Sunrun, Inc. (a)(b) | 278,907 | 6,515,268 | |
43,726,202 | |||
Machinery - 3.5% | |||
Crane Holdings Co. | 139,500 | 12,214,620 | |
Fortive Corp. | 133,200 | 7,243,416 | |
IDEX Corp. | 39,700 | 7,210,711 | |
Ingersoll Rand, Inc. | 73,300 | 3,084,464 | |
ITT, Inc. | 226,559 | 15,233,827 | |
44,987,038 | |||
Marine - 0.3% | |||
Clarkson PLC | 119,869 | 4,392,088 | |
Professional Services - 3.6% | |||
ASGN, Inc. (a) | 101,599 | 9,169,310 | |
FTI Consulting, Inc. (a) | 52,400 | 9,476,540 | |
Jacobs Engineering Group, Inc. | 67,186 | 8,541,356 | |
KBR, Inc. | 297,000 | 14,371,830 | |
TriNet Group, Inc. (a) | 63,500 | 4,928,870 | |
46,487,906 | |||
Road & Rail - 0.3% | |||
J.B. Hunt Transport Services, Inc. | 29,400 | 4,629,618 | |
Trading Companies & Distributors - 1.7% | |||
GMS, Inc. (a) | 80,000 | 3,560,000 | |
RS GROUP PLC | 594,044 | 6,283,998 | |
Univar Solutions, Inc. (a) | 474,700 | 11,805,789 | |
21,649,787 | |||
TOTAL INDUSTRIALS | 238,057,918 | ||
INFORMATION TECHNOLOGY - 12.0% | |||
Communications Equipment - 0.7% | |||
Digi International, Inc. (a) | 372,800 | 9,029,216 | |
Electronic Equipment & Components - 2.8% | |||
CDW Corp. | 30,651 | 4,829,372 | |
Flex Ltd. (a) | 661,800 | 9,576,246 | |
Jabil, Inc. | 294,074 | 15,059,530 | |
Trimble, Inc. (a) | 46,400 | 2,701,872 | |
Zebra Technologies Corp. Class A (a) | 12,300 | 3,615,585 | |
35,782,605 | |||
IT Services - 4.7% | |||
Amadeus IT Holding SA Class A (a) | 134,100 | 7,508,817 | |
Concentrix Corp. | 91,200 | 12,370,368 | |
EPAM Systems, Inc. (a) | 15,200 | 4,480,656 | |
Euronet Worldwide, Inc. (a) | 79,191 | 7,965,823 | |
Genpact Ltd. | 251,343 | 10,646,889 | |
GoDaddy, Inc. (a) | 96,700 | 6,726,452 | |
WNS Holdings Ltd. sponsored ADR (a) | 147,600 | 11,016,864 | |
60,715,869 | |||
Semiconductors & Semiconductor Equipment - 2.5% | |||
Marvell Technology, Inc. | 59,700 | 2,598,741 | |
MKS Instruments, Inc. | 87,800 | 9,010,914 | |
onsemi (a) | 159,400 | 8,019,414 | |
SolarEdge Technologies, Inc. (a) | 20,800 | 5,692,544 | |
Teradyne, Inc. | 87,900 | 7,871,445 | |
33,193,058 | |||
Software - 1.3% | |||
Black Knight, Inc. (a) | 114,200 | 7,467,538 | |
Dynatrace, Inc. (a) | 197,400 | 7,785,456 | |
KnowBe4, Inc. (a) | 77,300 | 1,207,426 | |
16,460,420 | |||
TOTAL INFORMATION TECHNOLOGY | 155,181,168 | ||
MATERIALS - 7.1% | |||
Chemicals - 2.2% | |||
Cabot Corp. | 38,500 | 2,455,915 | |
Celanese Corp. Class A | 52,300 | 6,151,003 | |
CF Industries Holdings, Inc. | 79,400 | 6,806,962 | |
Element Solutions, Inc. | 701,700 | 12,490,260 | |
27,904,140 | |||
Construction Materials - 1.0% | |||
Eagle Materials, Inc. | 45,100 | 4,958,294 | |
Martin Marietta Materials, Inc. | 28,700 | 8,588,188 | |
13,546,482 | |||
Containers & Packaging - 0.9% | |||
Avery Dennison Corp. | 50,300 | 8,142,061 | |
Sealed Air Corp. | 52,600 | 3,036,072 | |
11,178,133 | |||
Metals & Mining - 3.0% | |||
Agnico Eagle Mines Ltd. (Canada) | 127,006 | 5,813,544 | |
Commercial Metals Co. | 93,500 | 3,094,850 | |
First Quantum Minerals Ltd. | 500,000 | 9,485,705 | |
Lynas Rare Earths Ltd. (a) | 325,236 | 1,965,848 | |
Reliance Steel & Aluminum Co. | 58,800 | 9,987,768 | |
Wheaton Precious Metals Corp. | 251,000 | 9,043,956 | |
39,391,671 | |||
TOTAL MATERIALS | 92,020,426 | ||
REAL ESTATE - 8.5% | |||
Equity Real Estate Investment Trusts (REITs) - 8.0% | |||
Alexandria Real Estate Equities, Inc. | 35,400 | 5,134,062 | |
CubeSmart | 87,100 | 3,720,912 | |
Douglas Emmett, Inc. | 111,400 | 2,493,132 | |
Duke Realty Corp. | 128,600 | 7,066,570 | |
EastGroup Properties, Inc. | 49,500 | 7,639,335 | |
Highwoods Properties, Inc. (SBI) | 156,400 | 5,347,316 | |
Invitation Homes, Inc. | 298,500 | 10,620,630 | |
Lamar Advertising Co. Class A | 135,900 | 11,955,123 | |
Mid-America Apartment Communities, Inc. | 27,700 | 4,838,359 | |
National Retail Properties, Inc. | 214,700 | 9,232,100 | |
Ryman Hospitality Properties, Inc. (a) | 97,800 | 7,435,734 | |
SL Green Realty Corp. (b) | 108,862 | 5,023,981 | |
Sun Communities, Inc. | 22,000 | 3,505,920 | |
Ventas, Inc. | 231,200 | 11,890,616 | |
VICI Properties, Inc. | 237,000 | 7,060,230 | |
102,964,020 | |||
Real Estate Management & Development - 0.5% | |||
CBRE Group, Inc. (a) | 83,391 | 6,138,412 | |
TOTAL REAL ESTATE | 109,102,432 | ||
UTILITIES - 4.6% | |||
Electric Utilities - 2.2% | |||
Constellation Energy Corp. | 112,700 | 6,453,202 | |
OGE Energy Corp. | 428,700 | 16,530,672 | |
PG&E Corp. (a) | 545,600 | 5,445,088 | |
28,428,962 | |||
Independent Power and Renewable Electricity Producers - 1.9% | |||
Clearway Energy, Inc. Class C | 274,000 | 9,546,160 | |
NextEra Energy Partners LP | 125,000 | 9,270,000 | |
The AES Corp. | 290,300 | 6,099,203 | |
24,915,363 | |||
Multi-Utilities - 0.5% | |||
Black Hills Corp. | 89,600 | 6,520,192 | |
TOTAL UTILITIES | 59,864,517 | ||
TOTAL COMMON STOCKS (Cost $1,088,999,884) | 1,274,413,648 | ||
Money Market Funds - 3.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 1.58% (c) | 17,107,094 | 17,110,515 | |
Fidelity Securities Lending Cash Central Fund 1.58% (c)(d) | 31,410,084 | 31,413,225 | |
TOTAL MONEY MARKET FUNDS (Cost $48,523,740) | 48,523,740 | ||
TOTAL INVESTMENT IN SECURITIES - 102.5% (Cost $1,137,523,624) | 1,322,937,388 |
NET OTHER ASSETS (LIABILITIES) - (2.5)% | (32,127,795) |
NET ASSETS - 100.0% | 1,290,809,593 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 1.58% | 19,460,777 | 157,663,481 | 160,013,743 | 69,604 | - | - | 17,110,515 | 0.0% |
Fidelity Securities Lending Cash Central Fund 1.58% | 60,658,850 | 198,837,810 | 228,083,435 | 24,600 | - | - | 31,413,225 | 0.1% |
Total | 80,119,627 | 356,501,291 | 388,097,178 | 94,204 | - | - | 48,523,740 |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 21,491,019 | 21,491,019 | - | - |
Consumer Discretionary | 141,262,394 | 141,262,394 | - | - |
Consumer Staples | 58,949,901 | 58,949,901 | - | - |
Energy | 71,837,982 | 71,837,982 | - | - |
Financials | 191,166,537 | 191,166,537 | - | - |
Health Care | 135,479,354 | 135,479,354 | - | - |
Industrials | 238,057,918 | 238,057,918 | - | - |
Information Technology | 155,181,168 | 147,672,351 | 7,508,817 | - |
Materials | 92,020,426 | 90,054,578 | 1,965,848 | - |
Real Estate | 109,102,432 | 109,102,432 | - | - |
Utilities | 59,864,517 | 59,864,517 | - | - |
Money Market Funds | 48,523,740 | 48,523,740 | - | - |
Total Investments in Securities: | 1,322,937,388 | 1,313,462,723 | 9,474,665 | - |
Statement of Assets and Liabilities | ||||
June 30, 2022 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $29,964,255) - See accompanying schedule: | $1,274,413,648 | |||
Unaffiliated issuers (cost $1,088,999,884) | ||||
Fidelity Central Funds (cost $48,523,740) | 48,523,740 | |||
Total Investment in Securities (cost $1,137,523,624) | $ | 1,322,937,388 | ||
Foreign currency held at value (cost $29,315) | 29,374 | |||
Receivable for fund shares sold | 308,203 | |||
Dividends receivable | 1,206,298 | |||
Distributions receivable from Fidelity Central Funds | 22,806 | |||
Other receivables | 732 | |||
Total assets | 1,324,504,801 | |||
Liabilities | ||||
Payable for investments purchased | $85,946 | |||
Payable for fund shares redeemed | 1,030,567 | |||
Accrued management fee | 594,727 | |||
Distribution and service plan fees payable | 291,834 | |||
Other affiliated payables | 247,974 | |||
Other payables and accrued expenses | 30,935 | |||
Collateral on securities loaned | 31,413,225 | |||
Total Liabilities | 33,695,208 | |||
Net Assets | $ | 1,290,809,593 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,044,662,562 | ||
Total accumulated earnings (loss) | 246,147,031 | |||
Net Assets | $ | 1,290,809,593 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($625,591,672 ÷ 34,235,277 shares) (a) | $ | 18.27 | ||
Maximum offering price per share (100/94.25 of $18.27) | $ | 19.38 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($262,410,134 ÷ 14,902,738 shares) (a) | $ | 17.61 | ||
Maximum offering price per share (100/96.50 of $17.61) | $ | 18.25 | ||
Class C : | ||||
Net Asset Value and offering price per share ($46,165,679 ÷ 3,041,828 shares) (a) | $ | 15.18 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($312,925,401 ÷ 16,374,490 shares) | $ | 19.11 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($43,716,707 ÷ 2,288,945 shares) | $ | 19.10 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended June 30, 2022 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 8,713,113 | ||
Income from Fidelity Central Funds (including $24,600 from security lending) | 94,204 | |||
Total Income | 8,807,317 | |||
Expenses | ||||
Management fee | $ | 3,966,722 | ||
Transfer agent fees | 1,344,794 | |||
Distribution and service plan fees | 1,962,527 | |||
Accounting fees | 232,144 | |||
Custodian fees and expenses | 14,480 | |||
Independent trustees' fees and expenses | 2,635 | |||
Registration fees | 47,888 | |||
Audit | 27,714 | |||
Legal | 2,501 | |||
Miscellaneous | 2,975 | |||
Total expenses before reductions | 7,604,380 | |||
Expense reductions | (23,924) | |||
Total expenses after reductions | 7,580,456 | |||
Net Investment income (loss) | 1,226,861 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 62,241,442 | |||
Foreign currency transactions | (28,887) | |||
Total net realized gain (loss) | 62,212,555 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (421,187,609) | |||
Assets and liabilities in foreign currencies | (5,978) | |||
Total change in net unrealized appreciation (depreciation) | (421,193,587) | |||
Net gain (loss) | (358,981,032) | |||
Net increase (decrease) in net assets resulting from operations | $ | (357,754,171) |
Statement of Changes in Net Assets | ||||
Six months ended June 30, 2022 (Unaudited) | Year ended December 31, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,226,861 | $ | 1,662,742 |
Net realized gain (loss) | 62,212,555 | 279,860,244 | ||
Change in net unrealized appreciation (depreciation) | (421,193,587) | 77,219,062 | ||
Net increase (decrease) in net assets resulting from operations | (357,754,171) | 358,742,048 | ||
Distributions to shareholders | (23,845,354) | (287,094,375) | ||
Share transactions - net increase (decrease) | (40,346,709) | 154,593,675 | ||
Total increase (decrease) in net assets | (421,946,234) | 226,241,348 | ||
Net Assets | ||||
Beginning of period | 1,712,755,827 | 1,486,514,479 | ||
End of period | $ | 1,290,809,593 | $ | 1,712,755,827 |
Fidelity Advisor® Mid Cap II Fund Class A |
Six months ended (Unaudited) June 30, 2022 | Years ended December 31, 2021 | 2020 | 2019 | 2018 | 2017 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.56 | $ | 22.59 | $ | 19.31 | $ | 16.21 | $ | 20.94 | $ | 18.78 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .02 | .03 | .01 | .08 | .04 | .06 | ||||||
Net realized and unrealized gain (loss) | (4.98) | 5.40 | 3.52 | 3.64 | (3.06) | 3.69 | ||||||
Total from investment operations | (4.96) | 5.43 | 3.53 | 3.72 | (3.02) | 3.75 | ||||||
Distributions from net investment income | - | (.01) | (.03) | (.08) | (.04) | (.05) | ||||||
Distributions from net realized gain | (.33) | (4.46) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Total distributions | (.33) | (4.46) C | (.25) | (.62) | (1.71) | (1.59) | ||||||
Net asset value, end of period | $ | 18.27 | $ | 23.56 | $ | 22.59 | $ | 19.31 | $ | 16.21 | $ | 20.94 |
Total Return D,E,F | (21.27)% | 24.92% | 18.34% | 23.31% | (15.10)% | 20.25% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.01% I | 1.00% | 1.05% | 1.04% | 1.04% | 1.05% | ||||||
Expenses net of fee waivers, if any | 1.00% I | 1.00% | 1.05% | 1.04% | 1.04% | 1.05% | ||||||
Expenses net of all reductions | 1.00% I | 1.00% | 1.04% | 1.03% | 1.03% | 1.05% | ||||||
Net investment income (loss) | .16% I | .11% | .06% | .43% | .21% | .31% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 625,592 | $ | 828,601 | $ | 674,103 | $ | 653,829 | $ | 552,289 | $ | 714,876 |
Portfolio turnover rate J | 43% I | 42% | 43% | 31% | 49% | 37% |
Fidelity Advisor® Mid Cap II Fund Class M |
Six months ended (Unaudited) June 30, 2022 | Years ended December 31, 2021 | 2020 | 2019 | 2018 | 2017 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 22.74 | $ | 21.94 | $ | 18.78 | $ | 15.78 | $ | 20.43 | $ | 18.37 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.01) | (.03) | (.03) | .03 | (.01) | .02 | ||||||
Net realized and unrealized gain (loss) | (4.79) | 5.23 | 3.41 | 3.55 | (2.97) | 3.59 | ||||||
Total from investment operations | (4.80) | 5.20 | 3.38 | 3.58 | (2.98) | 3.61 | ||||||
Distributions from net investment income | - | - | - | (.03) | - C | (.01) | ||||||
Distributions from net realized gain | (.33) | (4.40) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Total distributions | (.33) | (4.40) | (.22) | (.58) D | (1.67) | (1.55) | ||||||
Net asset value, end of period | $ | 17.61 | $ | 22.74 | $ | 21.94 | $ | 18.78 | $ | 15.78 | $ | 20.43 |
Total Return E,F,G | (21.33)% | 24.58% | 18.05% | 23.03% | (15.26)% | 19.91% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.25% J | 1.25% | 1.28% | 1.28% | 1.28% | 1.29% | ||||||
Expenses net of fee waivers, if any | 1.25% J | 1.25% | 1.28% | 1.28% | 1.28% | 1.29% | ||||||
Expenses net of all reductions | 1.25% J | 1.25% | 1.28% | 1.27% | 1.27% | 1.28% | ||||||
Net investment income (loss) | (.08)% J | (.13)% | (.17)% | .20% | (.03)% | .08% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 262,410 | $ | 347,492 | $ | 308,136 | $ | 311,665 | $ | 285,590 | $ | 375,688 |
Portfolio turnover rate K | 43% J | 42% | 43% | 31% | 49% | 37% |
Fidelity Advisor® Mid Cap II Fund Class C |
Six months ended (Unaudited) June 30, 2022 | Years ended December 31, 2021 | 2020 | 2019 | 2018 | 2017 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 19.71 | $ | 19.51 | $ | 16.82 | $ | 14.23 | $ | 18.70 | $ | 17.01 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.06) | (.15) | (.12) | (.06) | (.10) | (.08) | ||||||
Net realized and unrealized gain (loss) | (4.14) | 4.63 | 3.03 | 3.19 | (2.70) | 3.31 | ||||||
Total from investment operations | (4.20) | 4.48 | 2.91 | 3.13 | (2.80) | 3.23 | ||||||
Distributions from net investment income | - | - | - | - | - C | - | ||||||
Distributions from net realized gain | (.33) | (4.28) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Total distributions | (.33) | (4.28) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Net asset value, end of period | $ | 15.18 | $ | 19.71 | $ | 19.51 | $ | 16.82 | $ | 14.23 | $ | 18.70 |
Total Return D,E,F | (21.57)% | 23.91% | 17.36% | 22.39% | (15.72)% | 19.27% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.84% I | 1.83% | 1.86% | 1.84% | 1.81% | 1.82% | ||||||
Expenses net of fee waivers, if any | 1.83% I | 1.82% | 1.86% | 1.84% | 1.81% | 1.81% | ||||||
Expenses net of all reductions | 1.83% I | 1.82% | 1.85% | 1.83% | 1.80% | 1.81% | ||||||
Net investment income (loss) | (.66)% I | (.71)% | (.75)% | (.36)% | (.56)% | (.45)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 46,166 | $ | 67,519 | $ | 93,765 | $ | 104,617 | $ | 167,310 | $ | 239,688 |
Portfolio turnover rate J | 43% I | 42% | 43% | 31% | 49% | 37% |
Fidelity Advisor® Mid Cap II Fund Class I |
Six months ended (Unaudited) June 30, 2022 | Years ended December 31, 2021 | 2020 | 2019 | 2018 | 2017 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 24.59 | $ | 23.41 | $ | 19.99 | $ | 16.75 | $ | 21.57 | $ | 19.31 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .05 | .10 | .07 | .14 | .11 | .13 | ||||||
Net realized and unrealized gain (loss) | (5.20) | 5.61 | 3.65 | 3.76 | (3.16) | 3.79 | ||||||
Total from investment operations | (5.15) | 5.71 | 3.72 | 3.90 | (3.05) | 3.92 | ||||||
Distributions from net investment income | - | (.07) | (.08) | (.12) | (.10) | (.12) | ||||||
Distributions from net realized gain | (.33) | (4.46) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Total distributions | (.33) | (4.53) | (.30) | (.66) | (1.77) | (1.66) | ||||||
Net asset value, end of period | $ | 19.11 | $ | 24.59 | $ | 23.41 | $ | 19.99 | $ | 16.75 | $ | 21.57 |
Total Return C,D | (21.15)% | 25.24% | 18.68% | 23.64% | (14.80)% | 20.55% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .73% G | .73% | .76% | .75% | .76% | .76% | ||||||
Expenses net of fee waivers, if any | .73% G | .73% | .76% | .75% | .76% | .76% | ||||||
Expenses net of all reductions | .73% G | .73% | .75% | .75% | .75% | .76% | ||||||
Net investment income (loss) | .44% G | .39% | .35% | .72% | .50% | .60% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 312,925 | $ | 419,860 | $ | 378,711 | $ | 469,139 | $ | 926,420 | $ | 1,274,022 |
Portfolio turnover rate H | 43% G | 42% | 43% | 31% | 49% | 37% |
Fidelity Advisor® Mid Cap II Fund Class Z |
Six months ended (Unaudited) June 30, 2022 | Years ended December 31, 2021 | 2020 | 2019 | 2018 | 2017 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 24.56 | $ | 23.39 | $ | 19.97 | $ | 16.74 | $ | 21.57 | $ | 19.31 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .06 | .13 | .09 | .16 | .13 | .15 | ||||||
Net realized and unrealized gain (loss) | (5.19) | 5.60 | 3.66 | 3.77 | (3.17) | 3.80 | ||||||
Total from investment operations | (5.13) | 5.73 | 3.75 | 3.93 | (3.04) | 3.95 | ||||||
Distributions from net investment income | - | (.11) | (.11) | (.16) | (.13) | (.15) | ||||||
Distributions from net realized gain | (.33) | (4.46) | (.22) | (.54) | (1.67) | (1.54) | ||||||
Total distributions | (.33) | (4.56) C | (.33) | (.70) | (1.79) C | (1.69) | ||||||
Net asset value, end of period | $ | 19.10 | $ | 24.56 | $ | 23.39 | $ | 19.97 | $ | 16.74 | $ | 21.57 |
Total Return D,E | (21.09)% | 25.38% | 18.84% | 23.84% | (14.74)% | 20.71% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .61% H | .61% | .63% | .63% | .63% | .63% | ||||||
Expenses net of fee waivers, if any | .61% H | .61% | .63% | .63% | .63% | .63% | ||||||
Expenses net of all reductions | .61% H | .61% | .62% | .62% | .62% | .63% | ||||||
Net investment income (loss) | .56% H | .51% | .48% | .85% | .63% | .73% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 43,717 | $ | 49,283 | $ | 31,800 | $ | 42,787 | $ | 46,490 | $ | 36,707 |
Portfolio turnover rate I | 43% H | 42% | 43% | 31% | 49% | 37% |
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 | $281,151,087 |
Gross unrealized depreciation | (97,830,997) |
Net unrealized appreciation (depreciation) | $183,320,090 |
Tax cost | $1,139,617,298 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Mid Cap II Fund | 321,871,500 | 382,854,044 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $915,582 | $17,697 |
Class M | .25% | .25% | 763,854 | 7,606 |
Class C | .75% | .25% | 283,091 | 22,461 |
$1,962,527 | $47,764 |
Retained by FDC | |
Class A | $51,832 |
Class M | 3,760 |
Class C A | 857 |
$56,449 |
Amount | % of Class-Level Average Net Assets A | |
Class A | $685,043 | .19 |
Class M | 274,863 | .18 |
Class C | 74,511 | .26 |
Class I | 300,552 | .16 |
Class Z | 9,825 | .04 |
$1,344,794 |
% of Average Net Assets | |
Fidelity Advisor Mid Cap II Fund | .03 |
Amount | |
Fidelity Advisor Mid Cap II Fund | $8,754 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Mid Cap II Fund | 20,768,691 | 36,129,533 | (186,826) |
Amount | |
Fidelity Advisor Mid Cap II Fund | $1,353 |
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 Mid Cap II Fund | $2,517 | $1 | $- |
Six months ended June 30, 2022 | Year ended December 31, 2021 | |
Fidelity Advisor Mid Cap II Fund | ||
Distributions to shareholders | ||
Class A | $11,487,370 | $136,312,735 |
Class M | 4,985,997 | 59,318,927 |
Class C | 1,091,130 | 14,343,204 |
Class I | 5,601,468 | 69,428,652 |
Class Z | 679,389 | 7,690,857 |
Total | $23,845,354 | $287,094,375 |
Shares | Shares | Dollars | Dollars | |
Six months ended June 30, 2022 | Year ended December 31, 2021 | Six months ended June 30, 2022 | Year ended December 31, 2021 | |
Fidelity Advisor Mid Cap II Fund | ||||
Class A | ||||
Shares sold | 1,276,635 | 4,171,673 | $26,736,288 | $102,603,925 |
Reinvestment of distributions | 524,873 | 5,736,614 | 11,274,316 | 133,540,705 |
Shares redeemed | (2,736,554) | (4,577,031) | (55,884,382) | (113,256,006) |
Net increase (decrease) | (935,046) | 5,331,256 | $(17,873,778) | $122,888,624 |
Class M | ||||
Shares sold | 814,902 | 1,662,949 | $16,515,260 | $39,862,212 |
Reinvestment of distributions | 238,388 | 2,608,301 | 4,937,010 | 58,701,328 |
Shares redeemed | (1,430,149) | (3,037,870) | (28,835,416) | (72,845,336) |
Net increase (decrease) | (376,859) | 1,233,380 | $(7,383,146) | $25,718,204 |
Class C | ||||
Shares sold | 143,749 | 348,231 | $2,518,642 | $7,371,376 |
Reinvestment of distributions | 60,599 | 723,745 | 1,084,717 | 14,251,642 |
Shares redeemed | (588,488) | (2,451,596) | (10,220,827) | (51,300,838) |
Net increase (decrease) | (384,140) | (1,379,620) | $(6,617,468) | $(29,677,820) |
Class I | ||||
Shares sold | 1,258,084 | 2,099,824 | $27,837,121 | $53,902,147 |
Reinvestment of distributions | 242,006 | 2,751,786 | 5,430,616 | 66,798,168 |
Shares redeemed | (2,200,160) | (3,955,986) | (48,202,957) | (101,891,918) |
Net increase (decrease) | (700,070) | 895,624 | $(14,935,220) | $18,808,397 |
Class Z | ||||
Shares sold | 509,983 | 849,609 | $11,283,911 | $22,538,013 |
Reinvestment of distributions | 27,075 | 280,154 | 606,741 | 6,782,143 |
Shares redeemed | (254,529) | (483,012) | (5,427,749) | (12,463,886) |
Net increase (decrease) | 282,529 | 646,751 | $6,462,903 | $16,856,270 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2022 to June 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value January 1, 2022 | Ending Account Value June 30, 2022 | Expenses Paid During Period- C January 1, 2022 to June 30, 2022 | |||||||
Fidelity Advisor® Mid Cap II Fund | ||||||||||
Class A | 1.00% | |||||||||
Actual | $ 1,000 | $ 787.30 | $ 4.43 | |||||||
Hypothetical- B | $ 1,000 | $ 1,019.84 | $ 5.01 | |||||||
Class M | 1.25% | |||||||||
Actual | $ 1,000 | $ 786.70 | $ 5.54 | |||||||
Hypothetical- B | $ 1,000 | $ 1,018.60 | $ 6.26 | |||||||
Class C | 1.83% | |||||||||
Actual | $ 1,000 | $ 784.30 | $ 8.10 | |||||||
Hypothetical- B | $ 1,000 | $ 1,015.72 | $ 9.15 | |||||||
Class I | .73% | |||||||||
Actual | $ 1,000 | $ 788.50 | $ 3.24 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.17 | $ 3.66 | |||||||
Class Z | .61% | |||||||||
Actual | $ 1,000 | $ 789.10 | $ 2.71 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.77 | $ 3.06 | |||||||
![](https://capedge.com/proxy/N-CSRS/0000722574-22-000108/img84950_7.jpg)
![](https://capedge.com/proxy/N-CSRS/0000722574-22-000108/img84950_8.jpg)
- 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
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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 I’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 I’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 I
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | August 19, 2022 |
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: | August 19, 2022 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | August 19, 2022 |