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, Massachusetts 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: | November 30, 2023 |
Item 1.
Reports to Stockholders
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | 14.07% | 14.64% | 13.49% |
Class M (incl. 3.50% sales charge) | 16.49% | 14.91% | 13.49% |
Class C (incl. contingent deferred sales charge) | 19.01% | 15.10% | 13.46% |
Class I | 21.40% | 16.31% | 14.47% |
Class Z | 21.48% | 16.45% | 14.61% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Equity Growth Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 15.0 | |
NVIDIA Corp. | 6.6 | |
Amazon.com, Inc. | 4.9 | |
Alphabet, Inc. Class A | 4.8 | |
Apple, Inc. | 4.4 | |
Uber Technologies, Inc. | 4.3 | |
Eli Lilly & Co. | 2.4 | |
Boston Scientific Corp. | 2.2 | |
Netflix, Inc. | 1.9 | |
Universal Music Group NV | 1.9 | |
48.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 39.7 | |
Health Care | 15.2 | |
Industrials | 13.2 | |
Consumer Discretionary | 10.5 | |
Communication Services | 9.7 | |
Financials | 5.2 | |
Energy | 4.0 | |
Consumer Staples | 1.2 | |
Materials | 0.2 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 98.7% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.7% | |||
Entertainment - 4.9% | |||
Netflix, Inc. (a) | 307,942 | 145,955 | |
Universal Music Group NV | 5,454,591 | 144,116 | |
Warner Music Group Corp. Class A | 2,669,478 | 88,386 | |
378,457 | |||
Interactive Media & Services - 4.8% | |||
Alphabet, Inc. Class A (a) | 2,751,762 | 364,691 | |
Epic Games, Inc. (a)(b)(c) | 3,289 | 1,944 | |
366,635 | |||
TOTAL COMMUNICATION SERVICES | 745,092 | ||
CONSUMER DISCRETIONARY - 10.5% | |||
Automobiles - 0.3% | |||
BYD Co. Ltd. (H Shares) | 1,000,871 | 26,900 | |
Broadline Retail - 6.2% | |||
Amazon.com, Inc. (a) | 2,600,228 | 379,867 | |
MercadoLibre, Inc. (a) | 52,402 | 84,915 | |
Savers Value Village, Inc. (d) | 665,700 | 10,019 | |
474,801 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (a) | 417,082 | 52,694 | |
Booking Holdings, Inc. (a) | 14,500 | 45,323 | |
Flutter Entertainment PLC (a) | 300,282 | 46,894 | |
Kura Sushi U.S.A., Inc. Class A (a) | 107,500 | 6,717 | |
151,628 | |||
Household Durables - 0.0% | |||
Blu Investments LLC (a)(b)(c) | 12,123,162 | 4 | |
Specialty Retail - 1.0% | |||
TJX Companies, Inc. | 898,268 | 79,146 | |
Textiles, Apparel & Luxury Goods - 1.0% | |||
LVMH Moet Hennessy Louis Vuitton SE | 52,628 | 40,255 | |
Samsonite International SA (a)(e) | 12,634,276 | 36,878 | |
77,133 | |||
TOTAL CONSUMER DISCRETIONARY | 809,612 | ||
CONSUMER STAPLES - 1.2% | |||
Beverages - 0.8% | |||
Monster Beverage Corp. | 1,194,690 | 65,887 | |
Personal Care Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 229,253 | 29,273 | |
TOTAL CONSUMER STAPLES | 95,160 | ||
ENERGY - 4.0% | |||
Energy Equipment & Services - 0.5% | |||
Baker Hughes Co. Class A | 1,119,949 | 37,798 | |
Oil, Gas & Consumable Fuels - 3.5% | |||
Cheniere Energy, Inc. | 677,900 | 123,479 | |
New Fortress Energy, Inc. (d) | 479,132 | 18,437 | |
Range Resources Corp. | 1,235,956 | 40,169 | |
Reliance Industries Ltd. | 2,580,905 | 73,588 | |
Southwestern Energy Co. (a) | 1,765,100 | 11,632 | |
267,305 | |||
TOTAL ENERGY | 305,103 | ||
FINANCIALS - 5.2% | |||
Capital Markets - 1.3% | |||
Ares Management Corp. | 141,900 | 15,928 | |
CME Group, Inc. | 397,618 | 86,824 | |
102,752 | |||
Financial Services - 2.8% | |||
Apollo Global Management, Inc. | 78,100 | 7,185 | |
Corebridge Financial, Inc. | 774,600 | 16,290 | |
Fiserv, Inc. (a) | 121,600 | 15,882 | |
Global Payments, Inc. | 163,600 | 19,050 | |
MasterCard, Inc. Class A | 337,343 | 139,603 | |
One97 Communications Ltd. (a) | 562,300 | 5,906 | |
Rocket Companies, Inc. (a)(d) | 1,174,300 | 10,968 | |
214,884 | |||
Insurance - 1.1% | |||
Arthur J. Gallagher & Co. | 273,639 | 68,136 | |
BRP Group, Inc. (a) | 687,593 | 12,026 | |
80,162 | |||
TOTAL FINANCIALS | 397,798 | ||
HEALTH CARE - 15.2% | |||
Biotechnology - 4.1% | |||
Adamas Pharmaceuticals, Inc.: | |||
rights (a)(c) | 1,000,100 | 250 | |
rights (a)(c) | 1,000,100 | 110 | |
Alnylam Pharmaceuticals, Inc. (a) | 272,913 | 45,918 | |
Arcellx, Inc. (a) | 61,800 | 3,246 | |
Arrowhead Pharmaceuticals, Inc. (a) | 105,000 | 2,226 | |
Beam Therapeutics, Inc. (a) | 74,400 | 2,089 | |
BioMarin Pharmaceutical, Inc. (a) | 155,500 | 14,163 | |
Blueprint Medicines Corp. (a) | 41,600 | 2,897 | |
Cerevel Therapeutics Holdings (a) | 93,600 | 2,427 | |
Cytokinetics, Inc. (a) | 225,400 | 7,546 | |
Galapagos NV sponsored ADR (a) | 404,332 | 15,134 | |
Gamida Cell Ltd. (a) | 1,895,116 | 587 | |
Gamida Cell Ltd. warrants 4/21/28 (a) | 354,200 | 10 | |
Hookipa Pharma, Inc. (a) | 669,700 | 381 | |
Immunocore Holdings PLC ADR (a) | 169,488 | 8,937 | |
Insmed, Inc. (a) | 637,949 | 15,961 | |
Legend Biotech Corp. ADR (a) | 158,800 | 9,658 | |
Regeneron Pharmaceuticals, Inc. (a) | 78,771 | 64,892 | |
Repligen Corp. (a)(d) | 171,504 | 26,969 | |
Sarepta Therapeutics, Inc. (a) | 56,100 | 4,560 | |
Seres Therapeutics, Inc. (a) | 235,000 | 244 | |
Synlogic, Inc. (a) | 43,186 | 108 | |
Vertex Pharmaceuticals, Inc. (a) | 226,996 | 80,540 | |
Vor Biopharma, Inc. (a) | 474,939 | 879 | |
XOMA Corp. (a) | 291,100 | 4,320 | |
314,052 | |||
Health Care Equipment & Supplies - 3.3% | |||
Axonics Modulation Technologies, Inc. (a) | 275,100 | 15,403 | |
Boston Scientific Corp. (a) | 3,038,327 | 169,812 | |
Inspire Medical Systems, Inc. (a) | 64,400 | 9,358 | |
Lantheus Holdings, Inc. (a) | 73,500 | 5,264 | |
Masimo Corp. (a) | 476,000 | 44,630 | |
Penumbra, Inc. (a) | 48,840 | 10,847 | |
255,314 | |||
Health Care Providers & Services - 2.5% | |||
HealthEquity, Inc. (a) | 1,043,631 | 69,944 | |
UnitedHealth Group, Inc. | 225,088 | 124,467 | |
194,411 | |||
Health Care Technology - 0.1% | |||
Evolent Health, Inc. | 304,700 | 8,471 | |
Life Sciences Tools & Services - 2.3% | |||
Agilent Technologies, Inc. | 58,400 | 7,464 | |
Bio-Techne Corp. | 240,535 | 15,130 | |
Bruker Corp. | 489,308 | 31,849 | |
Chemometec A/S | 43,000 | 2,154 | |
Codexis, Inc. (a) | 1,124,704 | 2,654 | |
Danaher Corp. | 213,939 | 47,775 | |
Sartorius Stedim Biotech | 101,863 | 22,885 | |
Thermo Fisher Scientific, Inc. | 100,456 | 49,802 | |
179,713 | |||
Pharmaceuticals - 2.9% | |||
Aclaris Therapeutics, Inc. (a) | 156,900 | 137 | |
AstraZeneca PLC sponsored ADR | 595,517 | 38,464 | |
Eli Lilly & Co. | 312,868 | 184,918 | |
223,519 | |||
TOTAL HEALTH CARE | 1,175,480 | ||
INDUSTRIALS - 13.2% | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 45,613 | 3,524 | |
Electrical Equipment - 1.3% | |||
Eaton Corp. PLC | 410,665 | 93,504 | |
HD Hyundai Electric Co. Ltd. | 99,470 | 6,436 | |
99,940 | |||
Ground Transportation - 4.3% | |||
Uber Technologies, Inc. (a) | 5,851,036 | 329,881 | |
Industrial Conglomerates - 1.5% | |||
General Electric Co. | 969,971 | 118,142 | |
Machinery - 2.1% | |||
Energy Recovery, Inc. (a) | 287,700 | 5,484 | |
Ingersoll Rand, Inc. | 1,120,578 | 80,043 | |
Parker Hannifin Corp. | 118,931 | 51,519 | |
Westinghouse Air Brake Tech Co. | 183,757 | 21,419 | |
158,465 | |||
Passenger Airlines - 0.5% | |||
Ryanair Holdings PLC sponsored ADR (a) | 354,587 | 41,919 | |
Professional Services - 2.6% | |||
Equifax, Inc. | 486,701 | 105,960 | |
KBR, Inc. | 1,284,240 | 66,357 | |
TransUnion Holding Co., Inc. | 446,422 | 26,214 | |
198,531 | |||
Trading Companies & Distributors - 0.9% | |||
Ferguson PLC | 405,977 | 68,576 | |
TOTAL INDUSTRIALS | 1,018,978 | ||
INFORMATION TECHNOLOGY - 39.6% | |||
Electronic Equipment, Instruments & Components - 1.3% | |||
Flex Ltd. (a) | 2,060,645 | 52,443 | |
Jabil, Inc. | 416,951 | 48,083 | |
100,526 | |||
IT Services - 2.0% | |||
Gartner, Inc. (a) | 77,549 | 33,721 | |
MongoDB, Inc. Class A (a) | 212,307 | 88,265 | |
Snowflake, Inc. (a) | 190,082 | 35,675 | |
157,661 | |||
Semiconductors & Semiconductor Equipment - 13.0% | |||
Aixtron AG | 748,038 | 27,204 | |
Allegro MicroSystems LLC (a) | 330,136 | 8,986 | |
Arm Holdings Ltd. ADR (d) | 64,100 | 3,942 | |
ASML Holding NV (depository receipt) | 78,743 | 53,841 | |
BE Semiconductor Industries NV | 398,903 | 55,774 | |
eMemory Technology, Inc. | 36,000 | 2,884 | |
KLA Corp. | 89,932 | 48,979 | |
Marvell Technology, Inc. | 258,600 | 14,412 | |
Monolithic Power Systems, Inc. | 45,229 | 24,818 | |
NVIDIA Corp. | 1,078,266 | 504,305 | |
NXP Semiconductors NV | 300,464 | 61,319 | |
SiTime Corp. (a) | 293,083 | 32,415 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,205,112 | 117,269 | |
Universal Display Corp. | 263,323 | 44,554 | |
1,000,702 | |||
Software - 18.9% | |||
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | 2,071,818 | 4,662 | |
Confluent, Inc. (a) | 1,463,707 | 31,060 | |
HubSpot, Inc. (a) | 104,654 | 51,692 | |
Manhattan Associates, Inc. (a) | 249,992 | 55,761 | |
Microsoft Corp. | 3,054,197 | 1,157,266 | |
NICE Ltd. sponsored ADR (a) | 128,131 | 24,313 | |
Oracle Corp. | 866,941 | 100,747 | |
ServiceNow, Inc. (a) | 45,013 | 30,867 | |
Volue A/S (a) | 1,207,600 | 2,047 | |
1,458,415 | |||
Technology Hardware, Storage & Peripherals - 4.4% | |||
Apple, Inc. | 1,781,651 | 338,425 | |
TOTAL INFORMATION TECHNOLOGY | 3,055,729 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.1% | |||
Aspen Aerogels, Inc. (a)(d) | 510,800 | 5,353 | |
TOTAL COMMON STOCKS (Cost $5,019,674) | 7,608,305 | ||
Convertible Preferred Stocks - 0.2% | |||
Shares | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (b)(c) | 846 | 946 | |
Series A2 (b)(c) | 154 | 172 | |
1,118 | |||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 111,100 | 334 | |
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
ASAPP, Inc.: | |||
Series C (a)(b)(c) | 367,427 | 1,069 | |
Series D (b)(c) | 3,611,038 | 9,316 | |
10,385 | |||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Illuminated Holdings, Inc.: | |||
Series C2 (a)(b)(c) | 76,285 | 1,756 | |
Series C3 (a)(b)(c) | 95,356 | 2,195 | |
Series C4 (a)(b)(c) | 27,230 | 627 | |
Series C5 (a)(b)(c) | 53,844 | 1,239 | |
5,817 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $25,974) | 17,654 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
Illuminated Holdings, Inc. 0% (b)(c)(g) (Cost $1,619) | 1,619 | 1,622 | |
Preferred Securities - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
Illuminated Holdings, Inc. 0% (b)(c)(g) (Cost $2,252) | 2,252 | 2,253 | |
Money Market Funds - 1.9% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (h) | 91,710,666 | 91,729 | |
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i) | 54,543,154 | 54,549 | |
TOTAL MONEY MARKET FUNDS (Cost $146,278) | 146,278 | ||
TOTAL INVESTMENT IN SECURITIES - 100.8% (Cost $5,195,797) | 7,776,112 |
NET OTHER ASSETS (LIABILITIES) - (0.8)% | (65,497) |
NET ASSETS - 100.0% | 7,710,615 |
(a) | Non-income producing |
(b) | 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 $28,139,000 or 0.4% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | 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 $36,878,000 or 0.5% of net assets. |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | Security is perpetual in nature with no stated maturity date. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(i) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
ASAPP, Inc. Series C | 4/30/21 | 2,424 |
ASAPP, Inc. Series D | 8/29/23 | 13,944 |
Blu Investments LLC | 5/21/20 | 21 |
Canva, Inc. Series A | 9/22/23 | 902 |
Canva, Inc. Series A2 | 9/22/23 | 164 |
ElevateBio LLC Series C | 3/09/21 | 466 |
Epic Games, Inc. | 3/29/21 | 2,911 |
Illuminated Holdings, Inc. Series C2 | 7/07/20 | 1,907 |
Illuminated Holdings, Inc. Series C3 | 7/07/20 | 2,861 |
Illuminated Holdings, Inc. Series C4 | 1/08/21 | 980 |
Illuminated Holdings, Inc. Series C5 | 6/16/21 | 2,326 |
Illuminated Holdings, Inc. 0% | 6/14/23 - 9/27/23 | 3,871 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 121,727 | 2,100,253 | 2,130,251 | 5,941 | - | - | 91,729 | 0.2% |
Fidelity Securities Lending Cash Central Fund 5.39% | 30,152 | 473,777 | 449,380 | 610 | - | - | 54,549 | 0.2% |
Total | 151,879 | 2,574,030 | 2,579,631 | 6,551 | - | - | 146,278 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 745,092 | 599,032 | 144,116 | 1,944 |
Consumer Discretionary | 810,730 | 782,708 | 26,900 | 1,122 |
Consumer Staples | 95,160 | 95,160 | - | - |
Energy | 305,103 | 305,103 | - | - |
Financials | 397,798 | 397,798 | - | - |
Health Care | 1,175,814 | 1,175,110 | 10 | 694 |
Industrials | 1,018,978 | 1,018,978 | - | - |
Information Technology | 3,066,114 | 3,051,067 | - | 15,047 |
Materials | 11,170 | 5,353 | - | 5,817 |
Corporate Bonds | 1,622 | - | - | 1,622 |
Preferred Securities | 2,253 | - | - | 2,253 |
Money Market Funds | 146,278 | 146,278 | - | - |
Total Investments in Securities: | 7,776,112 | 7,576,587 | 171,026 | 28,499 |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $53,557) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,049,519) | $ | 7,629,834 | ||
Fidelity Central Funds (cost $146,278) | 146,278 | |||
Total Investment in Securities (cost $5,195,797) | $ | 7,776,112 | ||
Foreign currency held at value (cost $1,056) | 1,055 | |||
Receivable for investments sold | 7,720 | |||
Receivable for fund shares sold | 12,662 | |||
Dividends receivable | 4,113 | |||
Distributions receivable from Fidelity Central Funds | 782 | |||
Prepaid expenses | 8 | |||
Other receivables | 25 | |||
Total assets | 7,802,477 | |||
Liabilities | ||||
Payable for investments purchased | $ | 23,360 | ||
Payable for fund shares redeemed | 6,381 | |||
Accrued management fee | 3,265 | |||
Distribution and service plan fees payable | 1,136 | |||
Other affiliated payables | 901 | |||
Other payables and accrued expenses | 2,276 | |||
Collateral on securities loaned | 54,543 | |||
Total Liabilities | 91,862 | |||
Net Assets | $ | 7,710,615 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,102,331 | ||
Total accumulated earnings (loss) | 2,608,284 | |||
Net Assets | $ | 7,710,615 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($1,821,007 ÷ 111,116 shares)(a) | $ | 16.39 | ||
Maximum offering price per share (100/94.25 of $16.39) | $ | 17.39 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($1,619,005 ÷ 102,600 shares)(a) | $ | 15.78 | ||
Maximum offering price per share (100/96.50 of $15.78) | $ | 16.35 | ||
Class C : | ||||
Net Asset Value and offering price per share ($132,579 ÷ 10,792 shares)(a) | $ | 12.28 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($2,548,297 ÷ 134,219 shares) | $ | 18.99 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($1,589,727 ÷ 82,514 shares) | $ | 19.27 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 44,021 | ||
Income from Fidelity Central Funds (including $610 from security lending) | 6,551 | |||
Total Income | 50,572 | |||
Expenses | ||||
Management fee | $ | 33,030 | ||
Transfer agent fees | 8,922 | |||
Distribution and service plan fees | 12,533 | |||
Accounting fees | 1,012 | |||
Custodian fees and expenses | 130 | |||
Independent trustees' fees and expenses | 34 | |||
Registration fees | 198 | |||
Audit | 81 | |||
Legal | 8 | |||
Miscellaneous | 220 | |||
Total expenses before reductions | 56,168 | |||
Expense reductions | (383) | |||
Total expenses after reductions | 55,785 | |||
Net Investment income (loss) | (5,213) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $1,844) | 58,049 | |||
Foreign currency transactions | 148 | |||
Total net realized gain (loss) | 58,197 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of decrease in deferred foreign taxes of $2,093) | 1,227,762 | |||
Assets and liabilities in foreign currencies | (42) | |||
Total change in net unrealized appreciation (depreciation) | 1,227,720 | |||
Net gain (loss) | 1,285,917 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,280,704 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (5,213) | $ | (5,924) |
Net realized gain (loss) | 58,197 | 101,764 | ||
Change in net unrealized appreciation (depreciation) | 1,227,720 | (1,034,185) | ||
Net increase (decrease) in net assets resulting from operations | 1,280,704 | (938,345) | ||
Distributions to shareholders | (103,218) | (584,982) | ||
Share transactions - net increase (decrease) | 1,647,315 | 1,234,456 | ||
Total increase (decrease) in net assets | 2,824,801 | (288,871) | ||
Net Assets | ||||
Beginning of period | 4,885,814 | 5,174,685 | ||
End of period | $ | 7,710,615 | $ | 4,885,814 |
Fidelity Advisor® Equity Growth Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.85 | $ | 19.23 | $ | 17.06 | $ | 13.07 | $ | 11.84 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.02) | (.02) | - C | (.05) | (.02) | |||||
Net realized and unrealized gain (loss) | 2.85 | (3.14) | 4.08 | 5.22 | 1.97 | |||||
Total from investment operations | 2.83 | (3.16) | 4.08 | 5.17 | 1.95 | |||||
Distributions from net realized gain | (.29) | (2.22) | (1.91) | (1.18) | (.72) | |||||
Total distributions | (.29) | (2.22) | (1.91) | (1.18) | (.72) | |||||
Net asset value, end of period | $ | 16.39 | $ | 13.85 | $ | 19.23 | $ | 17.06 | $ | 13.07 |
Total Return D,E | 21.03% | (18.79)% | 26.35% | 42.92% | 18.34% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .96% | .97% | .97% | .99% | 1.01% | |||||
Expenses net of fee waivers, if any | .96% | .97% | .97% | .99% | 1.01% | |||||
Expenses net of all reductions | .96% | .97% | .97% | .99% | 1.01% | |||||
Net investment income (loss) | (.16)% | (.11)% | (.02)% C | (.33)% | (.16)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 1,821 | $ | 1,422 | $ | 1,752 | $ | 1,477 | $ | 1,049 |
Portfolio turnover rate H | 43% | 40% | 44% | 52% | 49% I |
Fidelity Advisor® Equity Growth Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.38 | $ | 18.64 | $ | 16.60 | $ | 12.78 | $ | 11.61 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.06) | (.05) | (.04) C | (.08) | (.05) | |||||
Net realized and unrealized gain (loss) | 2.75 | (3.04) | 3.95 | 5.08 | 1.94 | |||||
Total from investment operations | 2.69 | (3.09) | 3.91 | 5.00 | 1.89 | |||||
Distributions from net realized gain | (.29) | (2.17) | (1.87) | (1.18) | (.72) | |||||
Total distributions | (.29) | (2.17) | (1.87) | (1.18) | (.72) | |||||
Net asset value, end of period | $ | 15.78 | $ | 13.38 | $ | 18.64 | $ | 16.60 | $ | 12.78 |
Total Return D,E | 20.71% | (18.95)% | 25.99% | 42.54% | 18.18% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.21% | 1.21% | 1.21% | 1.23% | 1.25% | |||||
Expenses net of fee waivers, if any | 1.20% | 1.21% | 1.21% | 1.23% | 1.25% | |||||
Expenses net of all reductions | 1.20% | 1.21% | 1.21% | 1.23% | 1.24% | |||||
Net investment income (loss) | (.40)% | (.36)% | (.26)% C | (.57)% | (.40)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 1,619 | $ | 1,437 | $ | 1,938 | $ | 1,747 | $ | 1,417 |
Portfolio turnover rate H | 43% | 40% | 44% | 52% | 49% I |
Fidelity Advisor® Equity Growth Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 10.54 | $ | 15.14 | $ | 13.84 | $ | 10.90 | $ | 10.07 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.10) | (.10) | (.11) C | (.13) | (.09) | |||||
Net realized and unrealized gain (loss) | 2.13 | (2.39) | 3.24 | 4.25 | 1.64 | |||||
Total from investment operations | 2.03 | (2.49) | 3.13 | 4.12 | 1.55 | |||||
Distributions from net realized gain | (.29) | (2.11) | (1.83) | (1.18) | (.72) | |||||
Total distributions | (.29) | (2.11) | (1.83) | (1.18) | (.72) | |||||
Net asset value, end of period | $ | 12.28 | $ | 10.54 | $ | 15.14 | $ | 13.84 | $ | 10.90 |
Total Return D,E | 20.01% | (19.38)% | 25.36% | 41.73% | 17.53% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.74% | 1.75% | 1.74% | 1.78% | 1.80% | |||||
Expenses net of fee waivers, if any | 1.74% | 1.75% | 1.74% | 1.77% | 1.80% | |||||
Expenses net of all reductions | 1.74% | 1.75% | 1.74% | 1.77% | 1.79% | |||||
Net investment income (loss) | (.93)% | (.89)% | (.79)% C | (1.12)% | (.95)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 133 | $ | 98 | $ | 134 | $ | 131 | $ | 101 |
Portfolio turnover rate H | 43% | 40% | 44% | 52% | 49% I |
Fidelity Advisor® Equity Growth Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 15.95 | $ | 21.82 | $ | 19.10 | $ | 14.46 | $ | 12.98 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .02 | .02 | .05 C | (.01) | .01 | |||||
Net realized and unrealized gain (loss) | 3.31 | (3.63) | 4.61 | 5.83 | 2.19 | |||||
Total from investment operations | 3.33 | (3.61) | 4.66 | 5.82 | 2.20 | |||||
Distributions from net realized gain | (.29) | (2.26) | (1.94) | (1.18) | (.72) | |||||
Total distributions | (.29) | (2.26) | (1.94) | (1.18) | (.72) | |||||
Net asset value, end of period | $ | 18.99 | $ | 15.95 | $ | 21.82 | $ | 19.10 | $ | 14.46 |
Total Return D | 21.40% | (18.62)% | 26.65% | 43.32% | 18.68% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .71% | .72% | .71% | .74% | .75% | |||||
Expenses net of fee waivers, if any | .71% | .71% | .71% | .73% | .75% | |||||
Expenses net of all reductions | .71% | .71% | .71% | .73% | .75% | |||||
Net investment income (loss) | .09% | .14% | .24% C | (.07)% | .10% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,548 | $ | 1,285 | $ | 1,067 | $ | 770 | $ | 548 |
Portfolio turnover rate G | 43% | 40% | 44% | 52% | 49% H |
Fidelity Advisor® Equity Growth Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.17 | $ | 22.07 | $ | 19.30 | $ | 14.59 | $ | 13.07 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .04 | .04 | .07 C | .01 | .03 | |||||
Net realized and unrealized gain (loss) | 3.35 | (3.66) | 4.66 | 5.88 | 2.21 | |||||
Total from investment operations | 3.39 | (3.62) | 4.73 | 5.89 | 2.24 | |||||
Distributions from net realized gain | (.29) | (2.28) | (1.96) | (1.18) | (.72) | |||||
Total distributions | (.29) | (2.28) | (1.96) | (1.18) | (.72) | |||||
Net asset value, end of period | $ | 19.27 | $ | 16.17 | $ | 22.07 | $ | 19.30 | $ | 14.59 |
Total Return D | 21.48% | (18.46)% | 26.77% | 43.43% | 18.87% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .59% | .60% | .60% | .61% | .62% | |||||
Expenses net of fee waivers, if any | .59% | .60% | .60% | .61% | .62% | |||||
Expenses net of all reductions | .59% | .60% | .60% | .61% | .62% | |||||
Net investment income (loss) | .22% | .26% | .35% C | .05% | .23% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 1,590 | $ | 645 | $ | 285 | $ | 180 | $ | 112 |
Portfolio turnover rate G | 43% | 40% | 44% | 52% | 49% H |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Advisor Equity Growth Fund | $24 |
Gross unrealized appreciation | $2,731,981 | |
Gross unrealized depreciation | (157,893) | |
Net unrealized appreciation (depreciation) | $2,574,088 | |
Tax Cost | $5,202,024 |
Undistributed long-term capital gain | $42,008 |
Net unrealized appreciation (depreciation) on securities and other investments | $2,574,083 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $- | $ 62,096 |
Long-term Capital Gains | 103,218 | 522,886 |
Total | $103,218 | $ 584,982 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Equity Growth Fund | 4,206,980 | 2,687,520 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $3,933 | $78 |
Class M | .25% | .25% | 7,463 | 38 |
Class C | .75% | .25% | 1,137 | 228 |
$12,533 | $344 |
Retained by FDC | |
Class A | $544 |
Class M | 33 |
Class CA | 4 |
$581 |
Amount | % of Class-Level Average Net Assets | |
Class A | $2,595 | .16 |
Class M | 2,355 | .16 |
Class C | 219 | .19 |
Class I | 3,278 | .16 |
Class Z | 475 | .04 |
$8,922 |
% of Class-Level Average Net Assets | |
Class A | 0.1635% |
Class M | 0.1570% |
Class C | 0.1883% |
Class I | 0.1641% |
% of Average Net Assets | |
Fidelity Advisor Equity Growth Fund | .02 |
% of Average Net Assets | |
Fidelity Advisor Equity Growth Fund | 0.0147% |
Amount | |
Fidelity Advisor Equity Growth Fund | $43 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Equity Growth Fund | 297,355 | 185,829 | (2,584) |
Amount | |
Fidelity Advisor Equity Growth Fund | $10 |
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 Equity Growth Fund | $66 | $26 | $6,744 |
Expense reduction | |
Class M | $2 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Growth Fund | ||
Distributions to shareholders | ||
Class A | $29,592 | $201,902 |
Class M | 30,631 | 224,409 |
Class C | 2,701 | 18,487 |
Class I | 27,944 | 110,672 |
Class Z | 12,350 | 29,512 |
Total | $103,218 | $584,982 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Growth Fund | ||||
Class A | ||||
Shares sold | 21,267 | 16,685 | $310,421 | $238,232 |
Reinvestment of distributions | 2,171 | 10,895 | 27,414 | 189,362 |
Shares redeemed | (15,004) | (16,000) | (218,142) | (233,550) |
Net increase (decrease) | 8,434 | 11,580 | $119,693 | $194,044 |
Class M | ||||
Shares sold | 7,691 | 8,496 | $107,913 | $121,186 |
Reinvestment of distributions | 2,457 | 13,013 | 29,949 | 218,886 |
Shares redeemed | (14,950) | (18,044) | (210,990) | (258,376) |
Net increase (decrease) | (4,802) | 3,465 | $(73,128) | $81,696 |
Class C | ||||
Shares sold | 4,131 | 2,281 | $45,054 | $25,246 |
Reinvestment of distributions | 276 | 1,360 | 2,629 | 18,111 |
Shares redeemed | (2,881) | (3,196) | (31,585) | (36,259) |
Net increase (decrease) | 1,526 | 445 | $16,098 | $7,098 |
Class I | ||||
Shares sold | 80,228 | 45,700 | $1,321,123 | $738,514 |
Reinvestment of distributions | 1,802 | 5,203 | 26,307 | 103,900 |
Shares redeemed | (28,342) | (19,286) | (479,338) | (320,943) |
Net increase (decrease) | 53,688 | 31,617 | $868,092 | $521,471 |
Class Z | ||||
Shares sold | 58,182 | 29,802 | $985,369 | $472,459 |
Reinvestment of distributions | 773 | 1,400 | 11,444 | 28,312 |
Shares redeemed | (16,335) | (4,204) | (280,253) | (70,624) |
Net increase (decrease) | 42,620 | 26,998 | $716,560 | $430,147 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Equity Growth Fund | ||||||||||
Class A | .95% | |||||||||
Actual | $ 1,000 | $ 1,121.10 | $ 5.05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.31 | $ 4.81 | |||||||
Class M | 1.19% | |||||||||
Actual | $ 1,000 | $ 1,119.90 | $ 6.32 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.10 | $ 6.02 | |||||||
Class C | 1.72% | |||||||||
Actual | $ 1,000 | $ 1,116.40 | $ 9.13 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.44 | $ 8.69 | |||||||
Class I | .70% | |||||||||
Actual | $ 1,000 | $ 1,122.30 | $ 3.72 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.56 | $ 3.55 | |||||||
Class Z | .58% | |||||||||
Actual | $ 1,000 | $ 1,123.60 | $ 3.09 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.16 | $ 2.94 | |||||||
A special meeting of shareholders was held on April 19, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To reclassify the diversification status of the fund from diversified to non-diversified by eliminating the following fundamental policy: The fund may not with respect to 75% of fund's total assets, purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or securities of other investment companies) if as a result, (a) more than 5% of fund's total assets would be invested in the securities of that issuer, or (b) the fund would hold more than 10% of outstanding voting securities of issuer. | ||
# of Votes | % of Votes | |
Affirmative | 1,592,061,872.840 | 86.000 |
Against | 163,155,598.550 | 9.000 |
Abstain | 97,556,276.240 | 5.000 |
TOTAL | 1,852,773,747.630 | 100.000 |
Proposal 1 was not approved by shareholders. |
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | -1.24% | 10.54% | 7.84% |
Class M (incl. 3.50% sales charge) | 0.85% | 10.80% | 7.86% |
Class C (incl. contingent deferred sales charge) | 2.97% | 10.98% | 7.81% |
Fidelity® Value Strategies Fund | 5.01% | 12.15% | 8.78% |
Class K | 5.16% | 12.30% | 8.93% |
Class I | 5.03% | 12.14% | 8.75% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Value Strategies Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell Midcap® Value Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Constellation Energy Corp. | 2.2 | |
Canadian Natural Resources Ltd. | 2.2 | |
Centene Corp. | 2.1 | |
Cigna Group | 1.8 | |
PG&E Corp. | 1.8 | |
Welltower, Inc. | 1.7 | |
Apollo Global Management, Inc. | 1.6 | |
XPO, Inc. | 1.5 | |
Gildan Activewear, Inc. | 1.5 | |
Global Payments, Inc. | 1.5 | |
17.9 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 20.8 | |
Industrials | 16.3 | |
Consumer Discretionary | 10.8 | |
Materials | 9.4 | |
Utilities | 8.7 | |
Real Estate | 7.9 | |
Energy | 7.7 | |
Health Care | 6.3 | |
Information Technology | 5.1 | |
Consumer Staples | 4.6 | |
Communication Services | 1.3 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.9% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 1.3% | |||
Diversified Telecommunication Services - 0.9% | |||
Cellnex Telecom SA (a) | 449,600 | 17,165 | |
Media - 0.4% | |||
Nexstar Broadcasting Group, Inc. Class A | 49,500 | 7,026 | |
TOTAL COMMUNICATION SERVICES | 24,191 | ||
CONSUMER DISCRETIONARY - 10.8% | |||
Automobile Components - 1.5% | |||
Adient PLC (b) | 203,000 | 6,537 | |
Atmus Filtration Technologies, Inc. (c) | 447,500 | 9,791 | |
Autoliv, Inc. | 118,300 | 12,258 | |
28,586 | |||
Automobiles - 0.8% | |||
Harley-Davidson, Inc. | 509,400 | 15,277 | |
Hotels, Restaurants & Leisure - 0.9% | |||
Hilton Grand Vacations, Inc. (b) | 256,400 | 8,784 | |
Red Rock Resorts, Inc. | 178,850 | 7,964 | |
16,748 | |||
Household Durables - 1.3% | |||
Newell Brands, Inc. | 858,800 | 6,553 | |
Tempur Sealy International, Inc. | 475,400 | 19,168 | |
25,721 | |||
Leisure Products - 0.6% | |||
Brunswick Corp. | 150,600 | 11,878 | |
Specialty Retail - 4.2% | |||
American Eagle Outfitters, Inc. | 1,028,222 | 19,567 | |
Lithia Motors, Inc. Class A (sub. vtg.) (c) | 44,000 | 11,748 | |
Signet Jewelers Ltd. (c) | 177,700 | 14,603 | |
Upbound Group, Inc. | 571,000 | 16,616 | |
Victoria's Secret & Co. (b) | 622,400 | 16,774 | |
79,308 | |||
Textiles, Apparel & Luxury Goods - 1.5% | |||
Gildan Activewear, Inc. | 773,000 | 27,982 | |
TOTAL CONSUMER DISCRETIONARY | 205,500 | ||
CONSUMER STAPLES - 4.6% | |||
Consumer Staples Distribution & Retail - 1.2% | |||
U.S. Foods Holding Corp. (b) | 530,700 | 23,261 | |
Food Products - 2.2% | |||
Bunge Global SA | 185,700 | 20,403 | |
Darling Ingredients, Inc. (b) | 487,922 | 21,405 | |
41,808 | |||
Household Products - 0.4% | |||
Energizer Holdings, Inc. | 266,700 | 8,225 | |
Personal Care Products - 0.8% | |||
Kenvue, Inc. | 733,900 | 15,001 | |
TOTAL CONSUMER STAPLES | 88,295 | ||
ENERGY - 7.7% | |||
Energy Equipment & Services - 2.3% | |||
Expro Group Holdings NV (b) | 1,307,300 | 20,329 | |
Valaris Ltd. (b) | 335,400 | 23,008 | |
43,337 | |||
Oil, Gas & Consumable Fuels - 5.4% | |||
Antero Resources Corp. (b) | 770,422 | 18,205 | |
Canadian Natural Resources Ltd. | 629,300 | 42,021 | |
Targa Resources Corp. | 226,800 | 20,514 | |
Tourmaline Oil Corp. (c) | 463,700 | 22,444 | |
103,184 | |||
TOTAL ENERGY | 146,521 | ||
FINANCIALS - 20.8% | |||
Banks - 4.6% | |||
East West Bancorp, Inc. | 426,900 | 26,861 | |
First Citizens Bancshares, Inc. | 18,700 | 27,450 | |
Popular, Inc. | 161,200 | 11,895 | |
U.S. Bancorp | 588,400 | 22,430 | |
88,636 | |||
Capital Markets - 3.1% | |||
Ameriprise Financial, Inc. | 65,700 | 23,226 | |
LPL Financial | 94,300 | 20,963 | |
Raymond James Financial, Inc. | 137,500 | 14,458 | |
58,647 | |||
Consumer Finance - 2.6% | |||
OneMain Holdings, Inc. | 493,500 | 20,875 | |
PROG Holdings, Inc. (b) | 376,452 | 10,262 | |
SLM Corp. | 1,189,284 | 17,875 | |
49,012 | |||
Financial Services - 4.8% | |||
Apollo Global Management, Inc. | 326,300 | 30,020 | |
Global Payments, Inc. | 240,000 | 27,946 | |
NCR Atleos Corp. | 506,100 | 11,240 | |
Walker & Dunlop, Inc. | 260,200 | 21,862 | |
91,068 | |||
Insurance - 5.7% | |||
American Financial Group, Inc. | 200,200 | 22,901 | |
Assurant, Inc. | 150,800 | 25,337 | |
First American Financial Corp. | 197,500 | 11,771 | |
Globe Life, Inc. | 93,600 | 11,525 | |
Reinsurance Group of America, Inc. | 100,733 | 16,426 | |
The Travelers Companies, Inc. | 109,900 | 19,850 | |
107,810 | |||
TOTAL FINANCIALS | 395,173 | ||
HEALTH CARE - 6.3% | |||
Health Care Providers & Services - 5.6% | |||
AdaptHealth Corp. (b) | 841,000 | 7,132 | |
Centene Corp. (b) | 549,200 | 40,465 | |
Cigna Group | 130,200 | 34,227 | |
CVS Health Corp. | 365,900 | 24,863 | |
106,687 | |||
Pharmaceuticals - 0.7% | |||
Jazz Pharmaceuticals PLC (b) | 116,300 | 13,750 | |
TOTAL HEALTH CARE | 120,437 | ||
INDUSTRIALS - 16.3% | |||
Air Freight & Logistics - 1.2% | |||
FedEx Corp. | 86,600 | 22,415 | |
Building Products - 1.1% | |||
Builders FirstSource, Inc. (b) | 155,500 | 20,854 | |
Commercial Services & Supplies - 1.1% | |||
The Brink's Co. | 272,700 | 21,516 | |
Construction & Engineering - 3.5% | |||
Fluor Corp. (b) | 562,800 | 21,403 | |
Granite Construction, Inc. | 264,900 | 12,172 | |
MDU Resources Group, Inc. | 764,800 | 14,638 | |
Willscot Mobile Mini Holdings (b) | 445,200 | 18,574 | |
66,787 | |||
Electrical Equipment - 1.1% | |||
Regal Rexnord Corp. | 180,700 | 21,648 | |
Ground Transportation - 4.7% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 331,900 | 17,850 | |
TFI International, Inc. (Canada) | 172,600 | 20,423 | |
U-Haul Holding Co. (non-vtg.) | 384,500 | 20,821 | |
XPO, Inc. (b) | 338,500 | 29,206 | |
88,300 | |||
Machinery - 2.4% | |||
Allison Transmission Holdings, Inc. | 384,800 | 20,579 | |
Chart Industries, Inc. (b) | 88,900 | 11,560 | |
Timken Co. | 192,400 | 13,930 | |
46,069 | |||
Professional Services - 0.6% | |||
Manpower, Inc. | 163,200 | 12,111 | |
Trading Companies & Distributors - 0.6% | |||
Beacon Roofing Supply, Inc. (b) | 107,100 | 8,607 | |
GMS, Inc. (b) | 38,031 | 2,572 | |
11,179 | |||
TOTAL INDUSTRIALS | 310,879 | ||
INFORMATION TECHNOLOGY - 5.1% | |||
Communications Equipment - 1.1% | |||
Lumentum Holdings, Inc. (b) | 494,800 | 21,177 | |
Electronic Equipment, Instruments & Components - 2.1% | |||
Coherent Corp. (b) | 218,500 | 8,039 | |
Flex Ltd. (b) | 874,400 | 22,253 | |
Vontier Corp. | 310,300 | 10,466 | |
40,758 | |||
Software - 1.0% | |||
NCR Voyix Corp. (b) | 1,155,300 | 18,115 | |
Technology Hardware, Storage & Peripherals - 0.9% | |||
Seagate Technology Holdings PLC | 224,900 | 17,790 | |
TOTAL INFORMATION TECHNOLOGY | 97,840 | ||
MATERIALS - 9.4% | |||
Chemicals - 6.1% | |||
Axalta Coating Systems Ltd. (b) | 363,700 | 11,446 | |
Celanese Corp. Class A (c) | 179,100 | 24,834 | |
Methanex Corp. | 364,900 | 15,578 | |
Olin Corp. | 404,383 | 19,063 | |
The Chemours Co. LLC | 729,300 | 20,005 | |
Tronox Holdings PLC | 544,400 | 6,941 | |
Westlake Corp. | 134,900 | 17,320 | |
115,187 | |||
Containers & Packaging - 1.0% | |||
Graphic Packaging Holding Co. | 495,500 | 11,233 | |
O-I Glass, Inc. (b) | 562,100 | 8,297 | |
19,530 | |||
Metals & Mining - 1.4% | |||
Constellium NV (b) | 862,900 | 15,014 | |
Freeport-McMoRan, Inc. | 293,000 | 10,935 | |
25,949 | |||
Paper & Forest Products - 0.9% | |||
Louisiana-Pacific Corp. | 283,100 | 17,266 | |
TOTAL MATERIALS | 177,932 | ||
REAL ESTATE - 7.9% | |||
Equity Real Estate Investment Trusts (REITs) - 6.2% | |||
Camden Property Trust (SBI) | 105,400 | 9,513 | |
CubeSmart | 199,000 | 7,912 | |
Equity Lifestyle Properties, Inc. | 226,600 | 16,111 | |
Essex Property Trust, Inc. | 78,200 | 16,693 | |
Prologis (REIT), Inc. | 131,137 | 15,072 | |
Ventas, Inc. | 460,800 | 21,123 | |
Welltower, Inc. | 358,100 | 31,907 | |
118,331 | |||
Real Estate Management & Development - 1.7% | |||
Colliers International Group, Inc. | 89,500 | 9,313 | |
Jones Lang LaSalle, Inc. (b) | 139,100 | 21,633 | |
30,946 | |||
TOTAL REAL ESTATE | 149,277 | ||
UTILITIES - 8.7% | |||
Electric Utilities - 6.5% | |||
Constellation Energy Corp. | 349,000 | 42,238 | |
Edison International | 412,200 | 27,613 | |
NextEra Energy, Inc. | 332,300 | 19,443 | |
PG&E Corp. | 1,943,600 | 33,372 | |
122,666 | |||
Independent Power and Renewable Electricity Producers - 1.4% | |||
The AES Corp. | 1,581,900 | 27,224 | |
Multi-Utilities - 0.8% | |||
Sempra | 218,500 | 15,922 | |
TOTAL UTILITIES | 165,812 | ||
TOTAL COMMON STOCKS (Cost $1,598,147) | 1,881,857 | ||
Money Market Funds - 3.1% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (d) | 23,451,815 | 23,457 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 36,471,255 | 36,475 | |
TOTAL MONEY MARKET FUNDS (Cost $59,932) | 59,932 | ||
TOTAL INVESTMENT IN SECURITIES - 102.0% (Cost $1,658,079) | 1,941,789 |
NET OTHER ASSETS (LIABILITIES) - (2.0)% | (38,876) |
NET ASSETS - 100.0% | 1,902,913 |
(a) | 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 $17,165,000 or 0.9% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 1,324 | 573,508 | 551,375 | 993 | - | - | 23,457 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 51,754 | 609,048 | 624,327 | 201 | - | - | 36,475 | 0.1% |
Total | 53,078 | 1,182,556 | 1,175,702 | 1,194 | - | - | 59,932 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 24,191 | 7,026 | 17,165 | - |
Consumer Discretionary | 205,500 | 205,500 | - | - |
Consumer Staples | 88,295 | 88,295 | - | - |
Energy | 146,521 | 146,521 | - | - |
Financials | 395,173 | 395,173 | - | - |
Health Care | 120,437 | 120,437 | - | - |
Industrials | 310,879 | 310,879 | - | - |
Information Technology | 97,840 | 97,840 | - | - |
Materials | 177,932 | 177,932 | - | - |
Real Estate | 149,277 | 149,277 | - | - |
Utilities | 165,812 | 165,812 | - | - |
Money Market Funds | 59,932 | 59,932 | - | - |
Total Investments in Securities: | 1,941,789 | 1,924,624 | 17,165 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $35,776) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,598,147) | $ | 1,881,857 | ||
Fidelity Central Funds (cost $59,932) | 59,932 | |||
Total Investment in Securities (cost $1,658,079) | $ | 1,941,789 | ||
Receivable for fund shares sold | 3,036 | |||
Dividends receivable | 1,860 | |||
Distributions receivable from Fidelity Central Funds | 223 | |||
Prepaid expenses | 2 | |||
Total assets | 1,946,910 | |||
Liabilities | ||||
Payable for investments purchased | $ | 3,203 | ||
Payable for fund shares redeemed | 2,802 | |||
Accrued management fee | 1,012 | |||
Distribution and service plan fees payable | 178 | |||
Other affiliated payables | 271 | |||
Other payables and accrued expenses | 56 | |||
Collateral on securities loaned | 36,475 | |||
Total Liabilities | 43,997 | |||
Net Assets | $ | 1,902,913 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,570,144 | ||
Total accumulated earnings (loss) | 332,769 | |||
Net Assets | $ | 1,902,913 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($355,355 ÷ 8,426 shares)(a)(b) | $ | 42.18 | ||
Maximum offering price per share (100/94.25 of $42.18) | $ | 44.75 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($223,355 ÷ 4,933 shares)(a) | $ | 45.28 | ||
Maximum offering price per share (100/96.50 of $45.28) | $ | 46.92 | ||
Class C : | ||||
Net Asset Value and offering price per share ($19,120 ÷ 555 shares)(a) | $ | 34.45 | ||
Fidelity Value Strategies Fund : | ||||
Net Asset Value, offering price and redemption price per share ($629,237 ÷ 12,081 shares) | $ | 52.08 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($218,927 ÷ 4,207 shares) | $ | 52.04 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($456,919 ÷ 9,561 shares) | $ | 47.79 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 26,381 | ||
Income from Fidelity Central Funds (including $201 from security lending) | 1,194 | |||
Total Income | 27,575 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 8,352 | ||
Performance adjustment | 2,522 | |||
Transfer agent fees | 2,615 | |||
Distribution and service plan fees | 2,098 | |||
Accounting fees | 439 | |||
Custodian fees and expenses | 30 | |||
Independent trustees' fees and expenses | 9 | |||
Registration fees | 173 | |||
Audit | 66 | |||
Legal | 11 | |||
Interest | 13 | |||
Miscellaneous | 8 | |||
Total expenses before reductions | 16,336 | |||
Expense reductions | (96) | |||
Total expenses after reductions | 16,240 | |||
Net Investment income (loss) | 11,335 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 44,473 | |||
Foreign currency transactions | 9 | |||
Total net realized gain (loss) | 44,482 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 15,373 | |||
Assets and liabilities in foreign currencies | 1 | |||
Total change in net unrealized appreciation (depreciation) | 15,374 | |||
Net gain (loss) | 59,856 | |||
Net increase (decrease) in net assets resulting from operations | $ | 71,191 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 11,335 | $ | 10,616 |
Net realized gain (loss) | 44,482 | 32,400 | ||
Change in net unrealized appreciation (depreciation) | 15,374 | 24,245 | ||
Net increase (decrease) in net assets resulting from operations | 71,191 | 67,261 | ||
Distributions to shareholders | (32,384) | (104,569) | ||
Share transactions - net increase (decrease) | 317,548 | 256,598 | ||
Total increase (decrease) in net assets | 356,355 | 219,290 | ||
Net Assets | ||||
Beginning of period | 1,546,558 | 1,327,268 | ||
End of period | $ | 1,902,913 | $ | 1,546,558 |
Fidelity Advisor® Value Strategies Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 41.23 | $ | 42.62 | $ | 32.58 | $ | 33.23 | $ | 33.48 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .23 | .24 | .37 C | .29 | .42 D | |||||
Net realized and unrealized gain (loss) | 1.65 | 2.05 | 9.96 | .87 | 3.66 | |||||
Total from investment operations | 1.88 | 2.29 | 10.33 | 1.16 | 4.08 | |||||
Distributions from net investment income | (.27) | (.39) | (.29) | (.46) E | (.29) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (.93) F | (3.68) | (.29) | (1.81) F | (4.33) | |||||
Net asset value, end of period | $ | 42.18 | $ | 41.23 | $ | 42.62 | $ | 32.58 | $ | 33.23 |
Total Return G,H | 4.78% | 5.18% | 31.91% | 3.53% | 16.34% | |||||
Ratios to Average Net Assets B,I,J | ||||||||||
Expenses before reductions | 1.15% | 1.14% | 1.13% | 1.03% | 1.02% | |||||
Expenses net of fee waivers, if any | 1.15% | 1.13% | 1.13% | 1.02% | 1.02% | |||||
Expenses net of all reductions | 1.15% | 1.13% | 1.13% | 1.01% | 1.01% | |||||
Net investment income (loss) | .58% | .61% | .90% C | 1.03% | 1.39% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 355 | $ | 318 | $ | 254 | $ | 191 | $ | 204 |
Portfolio turnover rate K | 59% | 46% | 53% | 72% | 66% |
Fidelity Advisor® Value Strategies Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 44.16 | $ | 45.37 | $ | 34.67 | $ | 35.23 | $ | 35.16 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .15 | .16 | .29 C | .24 | .37 D | |||||
Net realized and unrealized gain (loss) | 1.76 | 2.17 | 10.61 | .92 | 3.93 | |||||
Total from investment operations | 1.91 | 2.33 | 10.90 | 1.16 | 4.30 | |||||
Distributions from net investment income | (.14) | (.25) | (.20) | (.37) E | (.19) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (.79) | (3.54) | (.20) | (1.72) F | (4.23) | |||||
Net asset value, end of period | $ | 45.28 | $ | 44.16 | $ | 45.37 | $ | 34.67 | $ | 35.23 |
Total Return G,H | 4.51% | 4.95% | 31.59% | 3.32% | 16.07% | |||||
Ratios to Average Net Assets B,I,J | ||||||||||
Expenses before reductions | 1.39% | 1.37% | 1.37% | 1.25% | 1.25% | |||||
Expenses net of fee waivers, if any | 1.39% | 1.37% | 1.37% | 1.25% | 1.24% | |||||
Expenses net of all reductions | 1.39% | 1.37% | 1.37% | 1.24% | 1.24% | |||||
Net investment income (loss) | .34% | .37% | .66% C | .81% | 1.16% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 223 | $ | 231 | $ | 237 | $ | 204 | $ | 234 |
Portfolio turnover rate K | 59% | 46% | 53% | 72% | 66% |
Fidelity Advisor® Value Strategies Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.87 | $ | 35.64 | $ | 27.33 | $ | 28.07 | $ | 28.95 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.06) | (.06) | .04 C | .05 | .15 D | |||||
Net realized and unrealized gain (loss) | 1.34 | 1.72 | 8.37 | .71 | 3.04 | |||||
Total from investment operations | 1.28 | 1.66 | 8.41 | .76 | 3.19 | |||||
Distributions from net investment income | (.05) | (.14) | (.10) | (.16) E | (.03) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (.70) | (3.43) | (.10) | (1.50) | (4.07) | |||||
Net asset value, end of period | $ | 34.45 | $ | 33.87 | $ | 35.64 | $ | 27.33 | $ | 28.07 |
Total Return F,G | 3.97% | 4.37% | 30.84% | 2.73% | 15.41% | |||||
Ratios to Average Net Assets B,H,I | ||||||||||
Expenses before reductions | 1.93% | 1.92% | 1.92% | 1.83% | 1.82% | |||||
Expenses net of fee waivers, if any | 1.93% | 1.91% | 1.91% | 1.83% | 1.82% | |||||
Expenses net of all reductions | 1.93% | 1.91% | 1.91% | 1.82% | 1.82% | |||||
Net investment income (loss) | (.19)% | (.17)% | .11% C | .23% | .58% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 19 | $ | 18 | $ | 14 | $ | 11 | $ | 14 |
Portfolio turnover rate J | 59% | 46% | 53% | 72% | 66% |
Fidelity® Value Strategies Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 50.65 | $ | 51.53 | $ | 39.30 | $ | 39.68 | $ | 39.04 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .41 | .43 | .58 C | .43 | .60 D | |||||
Net realized and unrealized gain (loss) | 2.02 | 2.47 | 12.00 | 1.07 | 4.46 | |||||
Total from investment operations | 2.43 | 2.90 | 12.58 | 1.50 | 5.06 | |||||
Distributions from net investment income | (.35) | (.49) | (.35) | (.54) E | (.38) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (1.00) | (3.78) | (.35) | (1.88) | (4.42) | |||||
Net asset value, end of period | $ | 52.08 | $ | 50.65 | $ | 51.53 | $ | 39.30 | $ | 39.68 |
Total Return F | 5.01% | 5.48% | 32.24% | 3.85% | 16.63% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .90% | .88% | .86% | .76% | .74% | |||||
Expenses net of fee waivers, if any | .90% | .87% | .86% | .76% | .74% | |||||
Expenses net of all reductions | .90% | .87% | .86% | .75% | .74% | |||||
Net investment income (loss) | .84% | .87% | 1.17% C | 1.30% | 1.66% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 629 | $ | 565 | $ | 513 | $ | 285 | $ | 332 |
Portfolio turnover rate I | 59% | 46% | 53% | 72% | 66% |
Fidelity® Value Strategies Fund Class K |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 50.61 | $ | 51.49 | $ | 39.27 | $ | 39.65 | $ | 39.03 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .48 | .49 | .64 C | .48 | .64 D | |||||
Net realized and unrealized gain (loss) | 2.02 | 2.46 | 11.98 | 1.07 | 4.46 | |||||
Total from investment operations | 2.50 | 2.95 | 12.62 | 1.55 | 5.10 | |||||
Distributions from net investment income | (.42) | (.54) | (.40) | (.59) E | (.44) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (1.07) | (3.83) | (.40) | (1.93) | (4.48) | |||||
Net asset value, end of period | $ | 52.04 | $ | 50.61 | $ | 51.49 | $ | 39.27 | $ | 39.65 |
Total Return F | 5.16% | 5.59% | 32.41% | 3.99% | 16.80% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .77% | .75% | .75% | .62% | .61% | |||||
Expenses net of fee waivers, if any | .77% | .75% | .75% | .61% | .61% | |||||
Expenses net of all reductions | .77% | .75% | .75% | .60% | .61% | |||||
Net investment income (loss) | .97% | .99% | 1.28% C | 1.44% | 1.79% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 219 | $ | 62 | $ | 54 | $ | 37 | $ | 49 |
Portfolio turnover rate I | 59% | 46% | 53% | 72% | 66% |
Fidelity Advisor® Value Strategies Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 46.56 | $ | 47.69 | $ | 36.40 | $ | 36.90 | $ | 36.64 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .38 | .39 | .54 C | .40 | .55 D | |||||
Net realized and unrealized gain (loss) | 1.86 | 2.28 | 11.10 | .98 | 4.12 | |||||
Total from investment operations | 2.24 | 2.67 | 11.64 | 1.38 | 4.67 | |||||
Distributions from net investment income | (.36) | (.51) | (.35) | (.53) E | (.37) | |||||
Distributions from net realized gain | (.65) | (3.29) | - | (1.34) E | (4.04) | |||||
Total distributions | (1.01) | (3.80) | (.35) | (1.88) F | (4.41) | |||||
Net asset value, end of period | $ | 47.79 | $ | 46.56 | $ | 47.69 | $ | 36.40 | $ | 36.90 |
Total Return G | 5.03% | 5.44% | 32.23% | 3.80% | 16.64% | |||||
Ratios to Average Net Assets A,H,I | ||||||||||
Expenses before reductions | .90% | .89% | .88% | .78% | .78% | |||||
Expenses net of fee waivers, if any | .90% | .88% | .88% | .78% | .78% | |||||
Expenses net of all reductions | .90% | .88% | .88% | .77% | .77% | |||||
Net investment income (loss) | .83% | .86% | 1.15% C | 1.27% | 1.63% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 457 | $ | 352 | $ | 256 | $ | 61 | $ | 72 |
Portfolio turnover rate J | 59% | 46% | 53% | 72% | 66% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $364,861 |
Gross unrealized depreciation | (83,688) |
Net unrealized appreciation (depreciation) | $281,173 |
Tax Cost | $1,660,616 |
Undistributed ordinary income | $10,059 |
Undistributed long-term capital gain | $41,536 |
Net unrealized appreciation (depreciation) on securities and other investments | $281,173 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $10,213 | $16,274 |
Long-term Capital Gains | 22,171 | 88,295 |
Total | $32,384 | $104,569 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Value Strategies Fund | 1,216,525 | 938,379 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $803 | $20 |
Class M | .25% | .25% | 1,115 | 6 |
Class C | .75% | .25% | 180 | 35 |
$2,098 | $61 |
Retained by FDC | |
Class A | $73 |
Class M | 10 |
Class CA | -B |
$83 |
Amount | % of Class-Level Average Net Assets | |
Class A | $560 | .17 |
Class M | 365 | .16 |
Class C | 36 | .20 |
Fidelity Value Strategies Fund | 964 | .17 |
Class K | 40 | .04 |
Class I | 650 | .17 |
$2,615 |
% of Class-Level Average Net Assets | |
Class A | 0.1726% |
Class M | 0.1616% |
Class C | 0.1991% |
Fidelity Value Strategies Fund | 0.1690% |
Class I | 0.1733% |
% of Average Net Assets | |
Fidelity Advisor Value Strategies Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Value Strategies Fund | 0.0275% |
Amount | |
Fidelity Advisor Value Strategies Fund | $22 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Value Strategies Fund | Borrower | $5,685 | 5.07% | $13 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Value Strategies Fund | 97,472 | 74,055 | 6,034 |
Amount | |
Fidelity Advisor Value Strategies Fund | $3 |
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 Value Strategies Fund | $22 | $- | $- |
Expense reduction | |
Class M | $1 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Value Strategies Fund | ||
Distributions to shareholders | ||
Class A | $7,159 | $21,936 |
Class M | 4,122 | 18,416 |
Class C | 374 | 1,360 |
Fidelity Value Strategies Fund | 11,158 | 37,615 |
Class K | 1,988 | 4,029 |
Class I | 7,583 | 21,213 |
Total | $32,384 | $104,569 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Value Strategies Fund | ||||
Class A | ||||
Shares sold | 1,747 | 2,196 | $70,562 | $89,027 |
Reinvestment of distributions | 158 | 488 | 6,023 | 20,592 |
Shares redeemed | (1,186) | (926) | (47,456) | (36,950) |
Net increase (decrease) | 719 | 1,758 | $29,129 | $72,669 |
Class M | ||||
Shares sold | 212 | 311 | $9,079 | $13,538 |
Reinvestment of distributions | 93 | 374 | 3,805 | 16,915 |
Shares redeemed | (614) | (668) | (26,529) | (28,828) |
Net increase (decrease) | (309) | 17 | $(13,645) | $1,625 |
Class C | ||||
Shares sold | 157 | 242 | $5,213 | $8,153 |
Reinvestment of distributions | 11 | 38 | 360 | 1,324 |
Shares redeemed | (147) | (141) | (4,832) | (4,671) |
Net increase (decrease) | 21 | 139 | $741 | $4,806 |
Fidelity Value Strategies Fund | ||||
Shares sold | 4,397 | 4,143 | $222,550 | $207,243 |
Reinvestment of distributions | 219 | 684 | 10,304 | 35,310 |
Shares redeemed | (3,692) | (3,616) | (180,063) | (176,732) |
Net increase (decrease) | 924 | 1,211 | $52,791 | $65,821 |
Class K | ||||
Shares sold | 4,192 | 569 | $211,390 | $28,021 |
Reinvestment of distributions | 42 | 78 | 1,988 | 4,029 |
Shares redeemed | (1,246) | (485) | (59,323) | (23,528) |
Net increase (decrease) | 2,988 | 162 | $154,055 | $8,522 |
Class I | ||||
Shares sold | 4,655 | 4,791 | $215,597 | $217,077 |
Reinvestment of distributions | 166 | 430 | 7,191 | 20,448 |
Shares redeemed | (2,829) | (3,013) | (128,311) | (134,370) |
Net increase (decrease) | 1,992 | 2,208 | $94,477 | $103,155 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Value Strategies Fund | ||||||||||
Class A | 1.14% | |||||||||
Actual | $ 1,000 | $ 1,123.90 | $ 6.07 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.35 | $ 5.77 | |||||||
Class M | 1.38% | |||||||||
Actual | $ 1,000 | $ 1,122.50 | $ 7.34 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.15 | $ 6.98 | |||||||
Class C | 1.92% | |||||||||
Actual | $ 1,000 | $ 1,119.60 | $ 10.20 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.44 | $ 9.70 | |||||||
Fidelity® Value Strategies Fund | .89% | |||||||||
Actual | $ 1,000 | $ 1,125.10 | $ 4.74 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.61 | $ 4.51 | |||||||
Class K | .77% | |||||||||
Actual | $ 1,000 | $ 1,125.90 | $ 4.10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.21 | $ 3.90 | |||||||
Class I | .89% | |||||||||
Actual | $ 1,000 | $ 1,125.30 | $ 4.74 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.61 | $ 4.51 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | -7.99% | 6.53% | 7.00% |
Class M (incl. 3.50% sales charge) | -6.01% | 6.77% | 6.97% |
Class C (incl. contingent deferred sales charge) | -4.06% | 6.97% | 6.96% |
Class I | -2.09% | 8.10% | 7.94% |
Class Z | -1.96% | 8.24% | 8.04% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Equity Value Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Value Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Berkshire Hathaway, Inc. Class B | 4.5 | |
Exxon Mobil Corp. | 4.2 | |
Comcast Corp. Class A | 3.2 | |
JPMorgan Chase & Co. | 3.1 | |
Chubb Ltd. | 2.7 | |
Centene Corp. | 2.5 | |
Cigna Group | 2.4 | |
The Travelers Companies, Inc. | 2.3 | |
PG&E Corp. | 2.3 | |
Bank of America Corp. | 2.3 | |
29.5 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 22.9 | |
Health Care | 18.8 | |
Consumer Staples | 13.1 | |
Utilities | 9.5 | |
Energy | 8.6 | |
Industrials | 7.9 | |
Information Technology | 6.9 | |
Communication Services | 4.1 | |
Consumer Discretionary | 2.9 | |
Materials | 2.2 | |
Real Estate | 0.8 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 96.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 4.1% | |||
Entertainment - 0.9% | |||
The Walt Disney Co. | 19,800 | 1,835,262 | |
Media - 3.2% | |||
Comcast Corp. Class A | 156,955 | 6,574,845 | |
TOTAL COMMUNICATION SERVICES | 8,410,107 | ||
CONSUMER DISCRETIONARY - 2.9% | |||
Diversified Consumer Services - 1.9% | |||
H&R Block, Inc. | 88,832 | 4,034,749 | |
Specialty Retail - 1.0% | |||
Ross Stores, Inc. | 15,152 | 1,975,518 | |
TOTAL CONSUMER DISCRETIONARY | 6,010,267 | ||
CONSUMER STAPLES - 13.1% | |||
Beverages - 2.7% | |||
Coca-Cola European Partners PLC | 24,821 | 1,505,145 | |
Keurig Dr. Pepper, Inc. | 50,005 | 1,578,658 | |
The Coca-Cola Co. | 42,532 | 2,485,570 | |
5,569,373 | |||
Consumer Staples Distribution & Retail - 1.5% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 17,600 | 1,136,608 | |
U.S. Foods Holding Corp. (a) | 44,614 | 1,955,432 | |
3,092,040 | |||
Food Products - 3.1% | |||
Lamb Weston Holdings, Inc. | 9,500 | 950,285 | |
Mondelez International, Inc. | 61,293 | 4,355,481 | |
Tyson Foods, Inc. Class A | 25,319 | 1,185,942 | |
6,491,708 | |||
Household Products - 2.8% | |||
Procter & Gamble Co. | 20,119 | 3,088,669 | |
Reckitt Benckiser Group PLC | 20,799 | 1,419,884 | |
The Clorox Co. | 8,643 | 1,238,974 | |
5,747,527 | |||
Personal Care Products - 3.0% | |||
Haleon PLC | 355,995 | 1,491,466 | |
Kenvue, Inc. | 176,739 | 3,612,545 | |
Unilever PLC sponsored ADR | 24,002 | 1,144,895 | |
6,248,906 | |||
TOTAL CONSUMER STAPLES | 27,149,554 | ||
ENERGY - 8.6% | |||
Oil, Gas & Consumable Fuels - 8.6% | |||
Antero Resources Corp. (a) | 40,321 | 952,785 | |
ConocoPhillips Co. | 2,186 | 252,636 | |
Equinor ASA sponsored ADR | 47,143 | 1,502,447 | |
Exxon Mobil Corp. | 84,941 | 8,726,838 | |
Occidental Petroleum Corp. | 24,687 | 1,460,236 | |
Ovintiv, Inc. | 28,229 | 1,251,674 | |
Parex Resources, Inc. | 90,476 | 1,855,593 | |
Shell PLC ADR | 27,590 | 1,815,422 | |
17,817,631 | |||
FINANCIALS - 22.9% | |||
Banks - 9.4% | |||
Bank of America Corp. | 154,863 | 4,721,773 | |
Cullen/Frost Bankers, Inc. | 4,143 | 407,215 | |
JPMorgan Chase & Co. | 41,801 | 6,524,300 | |
M&T Bank Corp. | 9,470 | 1,213,770 | |
PNC Financial Services Group, Inc. | 13,646 | 1,828,018 | |
U.S. Bancorp | 27,989 | 1,066,941 | |
Wells Fargo & Co. | 82,169 | 3,663,916 | |
19,425,933 | |||
Capital Markets - 2.9% | |||
Affiliated Managers Group, Inc. | 8,938 | 1,211,546 | |
BlackRock, Inc. Class A | 4,812 | 3,614,919 | |
Northern Trust Corp. | 13,980 | 1,107,915 | |
5,934,380 | |||
Financial Services - 4.5% | |||
Berkshire Hathaway, Inc. Class B (a) | 25,636 | 9,228,958 | |
Insurance - 6.1% | |||
Chubb Ltd. | 24,320 | 5,579,738 | |
The Travelers Companies, Inc. | 26,563 | 4,797,809 | |
Willis Towers Watson PLC | 9,353 | 2,303,644 | |
12,681,191 | |||
TOTAL FINANCIALS | 47,270,462 | ||
HEALTH CARE - 18.8% | |||
Health Care Providers & Services - 11.0% | |||
Centene Corp. (a) | 69,391 | 5,112,729 | |
Cigna Group | 19,050 | 5,007,864 | |
CVS Health Corp. | 39,574 | 2,689,053 | |
Elevance Health, Inc. | 6,638 | 3,182,855 | |
Humana, Inc. | 5,952 | 2,885,887 | |
UnitedHealth Group, Inc. | 7,138 | 3,947,100 | |
22,825,488 | |||
Pharmaceuticals - 7.8% | |||
AstraZeneca PLC sponsored ADR | 47,833 | 3,089,533 | |
Bristol-Myers Squibb Co. | 73,938 | 3,651,058 | |
Johnson & Johnson | 22,910 | 3,543,261 | |
Roche Holding AG (participation certificate) | 9,122 | 2,454,011 | |
Sanofi SA sponsored ADR | 72,582 | 3,393,209 | |
16,131,072 | |||
TOTAL HEALTH CARE | 38,956,560 | ||
INDUSTRIALS - 7.9% | |||
Aerospace & Defense - 3.9% | |||
Airbus Group NV | 7,563 | 1,123,959 | |
L3Harris Technologies, Inc. | 8,653 | 1,651,079 | |
Lockheed Martin Corp. | 4,369 | 1,956,307 | |
Northrop Grumman Corp. | 7,000 | 3,326,120 | |
8,057,465 | |||
Air Freight & Logistics - 0.5% | |||
DHL Group | 23,143 | 1,087,468 | |
Electrical Equipment - 0.5% | |||
Eaton Corp. PLC | 2,928 | 666,676 | |
Regal Rexnord Corp. | 2,660 | 318,668 | |
985,344 | |||
Industrial Conglomerates - 0.9% | |||
Siemens AG | 10,194 | 1,712,414 | |
Machinery - 1.5% | |||
Deere & Co. | 3,990 | 1,453,996 | |
Oshkosh Corp. | 2,690 | 261,710 | |
Pentair PLC | 22,146 | 1,429,303 | |
3,145,009 | |||
Professional Services - 0.6% | |||
Maximus, Inc. | 15,264 | 1,274,391 | |
TOTAL INDUSTRIALS | 16,262,091 | ||
INFORMATION TECHNOLOGY - 5.7% | |||
Communications Equipment - 2.1% | |||
Cisco Systems, Inc. | 91,068 | 4,405,870 | |
IT Services - 2.3% | |||
Amdocs Ltd. | 29,428 | 2,465,184 | |
Capgemini SA | 5,854 | 1,197,951 | |
Cognizant Technology Solutions Corp. Class A | 16,110 | 1,133,822 | |
4,796,957 | |||
Software - 1.3% | |||
Gen Digital, Inc. | 74,442 | 1,643,679 | |
Open Text Corp. | 24,400 | 979,416 | |
2,623,095 | |||
TOTAL INFORMATION TECHNOLOGY | 11,825,922 | ||
MATERIALS - 2.2% | |||
Chemicals - 1.4% | |||
CF Industries Holdings, Inc. | 14,600 | 1,097,190 | |
DuPont de Nemours, Inc. | 11,275 | 806,614 | |
Nutrien Ltd. | 19,000 | 1,015,930 | |
2,919,734 | |||
Containers & Packaging - 0.5% | |||
Crown Holdings, Inc. | 13,414 | 1,153,738 | |
Metals & Mining - 0.3% | |||
Newmont Corp. | 14,451 | 580,786 | |
TOTAL MATERIALS | 4,654,258 | ||
REAL ESTATE - 0.8% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
Crown Castle International Corp. | 3,600 | 422,208 | |
Real Estate Management & Development - 0.6% | |||
CBRE Group, Inc. (a) | 14,875 | 1,174,530 | |
TOTAL REAL ESTATE | 1,596,738 | ||
UTILITIES - 9.5% | |||
Electric Utilities - 6.3% | |||
Constellation Energy Corp. | 20,303 | 2,457,475 | |
Edison International | 36,981 | 2,477,357 | |
NextEra Energy, Inc. | 17,068 | 998,649 | |
PG&E Corp. | 278,674 | 4,784,833 | |
Southern Co. | 32,658 | 2,318,065 | |
13,036,379 | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
The AES Corp. | 59,806 | 1,029,261 | |
Multi-Utilities - 2.7% | |||
Dominion Energy, Inc. | 41,733 | 1,892,174 | |
National Grid PLC | 78,926 | 1,023,613 | |
Sempra | 35,394 | 2,579,161 | |
5,494,948 | |||
TOTAL UTILITIES | 19,560,588 | ||
TOTAL COMMON STOCKS (Cost $166,764,001) | 199,514,178 | ||
Nonconvertible Preferred Stocks - 1.2% | |||
Shares | Value ($) | ||
INFORMATION TECHNOLOGY - 1.2% | |||
Technology Hardware, Storage & Peripherals - 1.2% | |||
Samsung Electronics Co. Ltd. (Cost $2,512,336) | 58,340 | 2,598,674 | |
Money Market Funds - 1.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $2,706,127) | 2,705,586 | 2,706,128 | |
TOTAL INVESTMENT IN SECURITIES - 99.0% (Cost $171,982,464) | 204,818,980 |
NET OTHER ASSETS (LIABILITIES) - 1.0% | 2,003,715 |
NET ASSETS - 100.0% | 206,822,695 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 2,498,638 | 50,821,765 | 50,614,276 | 204,561 | - | 1 | 2,706,128 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 1,345,750 | 29,092,046 | 30,437,796 | 23,857 | - | - | - | 0.0% |
Total | 3,844,388 | 79,913,811 | 81,052,072 | 228,418 | - | 1 | 2,706,128 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 8,410,107 | 8,410,107 | - | - |
Consumer Discretionary | 6,010,267 | 6,010,267 | - | - |
Consumer Staples | 27,149,554 | 24,238,204 | 2,911,350 | - |
Energy | 17,817,631 | 17,817,631 | - | - |
Financials | 47,270,462 | 47,270,462 | - | - |
Health Care | 38,956,560 | 36,502,549 | 2,454,011 | - |
Industrials | 16,262,091 | 12,338,250 | 3,923,841 | - |
Information Technology | 14,424,596 | 14,424,596 | - | - |
Materials | 4,654,258 | 4,654,258 | - | - |
Real Estate | 1,596,738 | 1,596,738 | - | - |
Utilities | 19,560,588 | 18,536,975 | 1,023,613 | - |
Money Market Funds | 2,706,128 | 2,706,128 | - | - |
Total Investments in Securities: | 204,818,980 | 194,506,165 | 10,312,815 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $169,276,337) | $ | 202,112,852 | ||
Fidelity Central Funds (cost $2,706,127) | 2,706,128 | |||
Total Investment in Securities (cost $171,982,464) | $ | 204,818,980 | ||
Foreign currency held at value (cost $170) | 1,094 | |||
Receivable for investments sold | 3,137,202 | |||
Receivable for fund shares sold | 110,642 | |||
Dividends receivable | 525,430 | |||
Distributions receivable from Fidelity Central Funds | 14,616 | |||
Prepaid expenses | 258 | |||
Total assets | 208,608,222 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,378,948 | ||
Payable for fund shares redeemed | 187,059 | |||
Accrued management fee | 90,521 | |||
Distribution and service plan fees payable | 46,887 | |||
Other affiliated payables | 35,067 | |||
Other payables and accrued expenses | 47,045 | |||
Total Liabilities | 1,785,527 | |||
Net Assets | $ | 206,822,695 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 167,583,070 | ||
Total accumulated earnings (loss) | 39,239,625 | |||
Net Assets | $ | 206,822,695 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($110,909,750 ÷ 4,953,898 shares)(a) | $ | 22.39 | ||
Maximum offering price per share (100/94.25 of $22.39) | $ | 23.76 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($30,938,246 ÷ 1,382,816 shares)(a) | $ | 22.37 | ||
Maximum offering price per share (100/96.50 of $22.37) | $ | 23.18 | ||
Class C : | ||||
Net Asset Value and offering price per share ($13,766,475 ÷ 633,570 shares)(a) | $ | 21.73 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($35,933,799 ÷ 1,559,734 shares) | $ | 23.04 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($15,274,425 ÷ 667,058 shares) | $ | 22.90 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 4,928,042 | ||
Income from Fidelity Central Funds (including $23,857 from security lending) | 228,418 | |||
Total Income | 5,156,460 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 1,142,884 | ||
Performance adjustment | 156,952 | |||
Transfer agent fees | 375,772 | |||
Distribution and service plan fees | 595,668 | |||
Accounting fees | 77,141 | |||
Custodian fees and expenses | 19,075 | |||
Independent trustees' fees and expenses | 1,286 | |||
Registration fees | 75,753 | |||
Audit | 58,852 | |||
Legal | 5,353 | |||
Interest | 1,189 | |||
Miscellaneous | 887 | |||
Total expenses before reductions | 2,510,812 | |||
Expense reductions | (19,169) | |||
Total expenses after reductions | 2,491,643 | |||
Net Investment income (loss) | 2,664,817 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 5,121,620 | |||
Foreign currency transactions | 2,886 | |||
Total net realized gain (loss) | 5,124,506 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (14,278,224) | |||
Fidelity Central Funds | 1 | |||
Assets and liabilities in foreign currencies | 4,060 | |||
Total change in net unrealized appreciation (depreciation) | (14,274,163) | |||
Net gain (loss) | (9,149,657) | |||
Net increase (decrease) in net assets resulting from operations | $ | (6,484,840) |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,664,817 | $ | 2,019,358 |
Net realized gain (loss) | 5,124,506 | 2,605,567 | ||
Change in net unrealized appreciation (depreciation) | (14,274,163) | 11,328,352 | ||
Net increase (decrease) in net assets resulting from operations | (6,484,840) | 15,953,277 | ||
Distributions to shareholders | (3,783,745) | (7,393,417) | ||
Share transactions - net increase (decrease) | (24,978,755) | 5,051,034 | ||
Total increase (decrease) in net assets | (35,247,340) | 13,610,894 | ||
Net Assets | ||||
Beginning of period | 242,070,035 | 228,459,141 | ||
End of period | $ | 206,822,695 | $ | 242,070,035 |
Fidelity Advisor® Equity Value Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 23.31 | $ | 22.52 | $ | 18.87 | $ | 18.81 | $ | 18.77 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .27 | .20 | .16 | .24 C | .26 | |||||
Net realized and unrealized gain (loss) | (.83) | 1.30 | 3.69 | .80 | 1.25 | |||||
Total from investment operations | (.56) | 1.50 | 3.85 | 1.04 | 1.51 | |||||
Distributions from net investment income | (.19) | (.11) | (.20) | (.45) | (.28) | |||||
Distributions from net realized gain | (.17) | (.60) | - | (.53) | (1.19) | |||||
Total distributions | (.36) | (.71) | (.20) | (.98) | (1.47) | |||||
Net asset value, end of period | $ | 22.39 | $ | 23.31 | $ | 22.52 | $ | 18.87 | $ | 18.81 |
Total Return D,E | (2.38)% | 6.63% | 20.58% | 5.68% | 9.75% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.14% | 1.19% | 1.14% | 1.11% | 1.00% | |||||
Expenses net of fee waivers, if any | 1.13% | 1.15% | 1.14% | 1.10% | 1.00% | |||||
Expenses net of all reductions | 1.13% | 1.15% | 1.14% | 1.09% | .99% | |||||
Net investment income (loss) | 1.24% | .90% | .73% | 1.44% C | 1.47% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 110,910 | $ | 117,379 | $ | 96,669 | $ | 67,291 | $ | 71,916 |
Portfolio turnover rate H | 29% | 40% | 35% | 75% | 43% I |
Fidelity Advisor® Equity Value Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 23.28 | $ | 22.50 | $ | 18.85 | $ | 18.79 | $ | 18.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .22 | .14 | .11 | .20 C | .21 | |||||
Net realized and unrealized gain (loss) | (.83) | 1.29 | 3.69 | .79 | 1.26 | |||||
Total from investment operations | (.61) | 1.43 | 3.80 | .99 | 1.47 | |||||
Distributions from net investment income | (.13) | (.05) | (.15) | (.40) | (.23) | |||||
Distributions from net realized gain | (.17) | (.60) | - | (.53) | (1.19) | |||||
Total distributions | (.30) | (.65) | (.15) | (.93) | (1.41) D | |||||
Net asset value, end of period | $ | 22.37 | $ | 23.28 | $ | 22.50 | $ | 18.85 | $ | 18.79 |
Total Return E,F | (2.60)% | 6.32% | 20.31% | 5.37% | 9.51% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.38% | 1.44% | 1.39% | 1.37% | 1.26% | |||||
Expenses net of fee waivers, if any | 1.38% | 1.40% | 1.38% | 1.36% | 1.26% | |||||
Expenses net of all reductions | 1.37% | 1.40% | 1.38% | 1.35% | 1.26% | |||||
Net investment income (loss) | .99% | .65% | .48% | 1.19% C | 1.21% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 30,938 | $ | 33,509 | $ | 31,217 | $ | 25,905 | $ | 28,791 |
Portfolio turnover rate I | 29% | 40% | 35% | 75% | 43% J |
Fidelity Advisor® Equity Value Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 22.65 | $ | 21.89 | $ | 18.33 | $ | 18.29 | $ | 18.25 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .10 | .03 | (.01) | .10 C | .12 | |||||
Net realized and unrealized gain (loss) | (.80) | 1.25 | 3.61 | .76 | 1.24 | |||||
Total from investment operations | (.70) | 1.28 | 3.60 | .86 | 1.36 | |||||
Distributions from net investment income | (.05) | - | (.04) | (.29) | (.13) | |||||
Distributions from net realized gain | (.17) | (.52) | - | (.53) | (1.19) | |||||
Total distributions | (.22) | (.52) | (.04) | (.82) | (1.32) | |||||
Net asset value, end of period | $ | 21.73 | $ | 22.65 | $ | 21.89 | $ | 18.33 | $ | 18.29 |
Total Return D,E | (3.10)% | 5.81% | 19.67% | 4.78% | 8.95% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.94% | 1.98% | 1.93% | 1.91% | 1.79% | |||||
Expenses net of fee waivers, if any | 1.90% | 1.90% | 1.93% | 1.90% | 1.79% | |||||
Expenses net of all reductions | 1.90% | 1.90% | 1.93% | 1.89% | 1.79% | |||||
Net investment income (loss) | .47% | .15% | (.06)% | .64% C | .68% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 13,766 | $ | 17,461 | $ | 14,096 | $ | 11,555 | $ | 15,819 |
Portfolio turnover rate H | 29% | 40% | 35% | 75% | 43% I |
Fidelity Advisor® Equity Value Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 23.96 | $ | 23.14 | $ | 19.39 | $ | 19.16 | $ | 19.09 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .34 | .26 | .22 | .30 C | .31 | |||||
Net realized and unrealized gain (loss) | (.84) | 1.33 | 3.79 | .81 | 1.28 | |||||
Total from investment operations | (.50) | 1.59 | 4.01 | 1.11 | 1.59 | |||||
Distributions from net investment income | (.25) | (.18) | (.26) | (.35) | (.34) | |||||
Distributions from net realized gain | (.17) | (.60) | - | (.53) | (1.19) | |||||
Total distributions | (.42) | (.77) D | (.26) | (.88) | (1.52) D | |||||
Net asset value, end of period | $ | 23.04 | $ | 23.96 | $ | 23.14 | $ | 19.39 | $ | 19.16 |
Total Return E | (2.09)% | 6.86% | 20.93% | 5.95% | 10.12% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .88% | .94% | .90% | .77% | .72% | |||||
Expenses net of fee waivers, if any | .88% | .90% | .90% | .76% | .72% | |||||
Expenses net of all reductions | .88% | .90% | .90% | .75% | .72% | |||||
Net investment income (loss) | 1.49% | 1.15% | .97% | 1.78% C | 1.75% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 35,934 | $ | 52,405 | $ | 51,171 | $ | 16,291 | $ | 18,538 |
Portfolio turnover rate H | 29% | 40% | 35% | 75% | 43% I |
Fidelity Advisor® Equity Value Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 23.82 | $ | 23.00 | $ | 19.26 | $ | 19.18 | $ | 19.12 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .37 | .30 | .26 | .32 C | .33 | |||||
Net realized and unrealized gain (loss) | (.84) | 1.32 | 3.75 | .82 | 1.28 | |||||
Total from investment operations | (.47) | 1.62 | 4.01 | 1.14 | 1.61 | |||||
Distributions from net investment income | (.28) | (.20) | (.27) | (.52) | (.37) | |||||
Distributions from net realized gain | (.17) | (.60) | - | (.53) | (1.19) | |||||
Total distributions | (.45) | (.80) | (.27) | (1.06) D | (1.55) D | |||||
Net asset value, end of period | $ | 22.90 | $ | 23.82 | $ | 23.00 | $ | 19.26 | $ | 19.18 |
Total Return E | (1.96)% | 7.02% | 21.07% | 6.09% | 10.27% | |||||
Ratios to Average Net Assets A,F,G | ||||||||||
Expenses before reductions | .75% | .79% | .74% | .70% | .58% | |||||
Expenses net of fee waivers, if any | .74% | .75% | .74% | .69% | .58% | |||||
Expenses net of all reductions | .74% | .75% | .74% | .68% | .58% | |||||
Net investment income (loss) | 1.63% | 1.30% | 1.12% | 1.86% C | 1.89% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 15,274 | $ | 21,317 | $ | 35,306 | $ | 2,606 | $ | 3,852 |
Portfolio turnover rate H | 29% | 40% | 35% | 75% | 43% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $40,208,406 |
Gross unrealized depreciation | (7,548,666) |
Net unrealized appreciation (depreciation) | $32,659,740 |
Tax Cost | $172,159,240 |
Undistributed ordinary income | $2,437,321 |
Undistributed long-term capital gain | $4,140,383 |
Net unrealized appreciation (depreciation) on securities and other investments | $32,661,923 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $2,016,020 | $3,074,115 |
Long-term Capital Gains | 1,767,725 | 4,319,301 |
Total | $3,783,745 | $7,393,416 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Equity Value Fund | 61,968,003 | 85,095,392 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $282,130 | $6,340 |
Class M | .25% | .25% | 156,998 | 1,207 |
Class C | .75% | .25% | 156,540 | 20,450 |
$595,668 | $27,997 |
Retained by FDC | |
Class A | $32,250 |
Class M | 2,601 |
Class CA | 325 |
$35,176 |
Amount | % of Class-Level Average Net Assets | |
Class A | $207,809 | .18 |
Class M | 55,456 | .18 |
Class C | 34,864 | .22 |
Class I | 70,688 | .17 |
Class Z | 6,955 | .04 |
$375,772 |
% of Class-Level Average Net Assets | |
Class A | .1822% |
Class M | .1766% |
Class C | .2000% |
Class I | .1657% |
% of Average Net Assets | |
Fidelity Advisor Equity Value Fund | .04 |
% of Average Net Assets | |
Fidelity Advisor Equity Value Fund | .0353% |
Amount | |
Fidelity Advisor Equity Value Fund | $1,134 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Equity Value Fund | Borrower | $4,687,000 | 4.57% | $1,189 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Equity Value Fund | 4,410,515 | 14,334,621 | 7,399 |
Amount | |
Fidelity Advisor Equity Value Fund | $404 |
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 Equity Value Fund | $2,360 | $- | $- |
Expense Limitations | Reimbursement | |
Class C | 1.90% | $5,163 |
Expense reduction | |
Class M | $419 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Value Fund | ||
Distributions to shareholders | ||
Class A | $1,831,872 | $3,052,916 |
Class M | 434,839 | 897,128 |
Class C | 171,624 | 335,659 |
Class I | 936,668 | 1,735,387 |
Class Z | 408,742 | 1,372,327 |
Total | $3,783,745 | $7,393,417 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Value Fund | ||||
Class A | ||||
Shares sold | 785,862 | 1,322,626 | $17,424,123 | $29,846,718 |
Reinvestment of distributions | 79,706 | 125,386 | 1,767,079 | 2,944,057 |
Shares redeemed | (948,277) | (704,458) | (20,950,026) | (15,754,356) |
Net increase (decrease) | (82,709) | 743,554 | $(1,758,824) | $17,036,419 |
Class M | ||||
Shares sold | 99,039 | 236,755 | $2,185,687 | $5,321,237 |
Reinvestment of distributions | 19,273 | 37,646 | 427,869 | 885,059 |
Shares redeemed | (174,626) | (222,986) | (3,872,905) | (4,958,113) |
Net increase (decrease) | (56,314) | 51,415 | $(1,259,349) | $1,248,183 |
Class C | ||||
Shares sold | 134,070 | 326,262 | $2,891,489 | $7,171,335 |
Reinvestment of distributions | 7,175 | 14,355 | 155,486 | 329,881 |
Shares redeemed | (278,632) | (213,704) | (5,991,560) | (4,679,466) |
Net increase (decrease) | (137,387) | 126,913 | $(2,944,585) | $2,821,750 |
Class I | ||||
Shares sold | 497,498 | 1,266,409 | $11,370,113 | $29,316,775 |
Reinvestment of distributions | 37,937 | 68,071 | 863,451 | 1,639,827 |
Shares redeemed | (1,162,451) | (1,359,296) | (26,274,605) | (31,653,830) |
Net increase (decrease) | (627,016) | (24,816) | $(14,041,041) | $(697,228) |
Class Z | ||||
Shares sold | 439,775 | 677,338 | $10,048,100 | $15,778,041 |
Reinvestment of distributions | 15,951 | 49,426 | 360,343 | 1,181,767 |
Shares redeemed | (683,473) | (1,367,272) | (15,383,399) | (32,317,898) |
Net increase (decrease) | (227,747) | (640,508) | $(4,974,956) | $(15,358,090) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Equity Value Fund | ||||||||||
Class A | 1.12% | |||||||||
Actual | $ 1,000 | $ 1,051.70 | $ 5.76 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.45 | $ 5.67 | |||||||
Class M | 1.35% | |||||||||
Actual | $ 1,000 | $ 1,050.20 | $ 6.94 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.30 | $ 6.83 | |||||||
Class C | 1.90% | |||||||||
Actual | $ 1,000 | $ 1,047.20 | $ 9.75 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.54 | $ 9.60 | |||||||
Class I | .86% | |||||||||
Actual | $ 1,000 | $ 1,053.00 | $ 4.43 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.76 | $ 4.36 | |||||||
Class Z | .72% | |||||||||
Actual | $ 1,000 | $ 1,053.40 | $ 3.71 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.46 | $ 3.65 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | -3.65% | 6.70% | 7.46% |
Class M (incl. 3.50% sales charge) | -1.58% | 6.95% | 7.45% |
Class C (incl. contingent deferred sales charge) | 0.53% | 7.13% | 7.44% |
Fidelity® Stock Selector Mid Cap Fund | 2.52% | 8.24% | 8.35% |
Class I | 2.49% | 8.23% | 8.35% |
Class Z | 2.63% | 8.39% | 8.46% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Stock Selector Mid Cap Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P MidCap 400® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Bancorp, Inc., Delaware | 1.8 | |
East West Bancorp, Inc. | 1.7 | |
Flowserve Corp. | 1.3 | |
Carlisle Companies, Inc. | 1.3 | |
XPO, Inc. | 1.2 | |
Reliance Steel & Aluminum Co. | 1.2 | |
WESCO International, Inc. | 1.2 | |
ESAB Corp. | 1.2 | |
CACI International, Inc. Class A | 1.2 | |
Landstar System, Inc. | 1.2 | |
13.3 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 21.8 | |
Financials | 15.3 | |
Consumer Discretionary | 13.9 | |
Information Technology | 10.3 | |
Health Care | 7.7 | |
Real Estate | 7.3 | |
Materials | 7.1 | |
Consumer Staples | 4.9 | |
Energy | 4.4 | |
Utilities | 3.2 | |
Communication Services | 1.8 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.9% |
Common Stocks - 97.7% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 1.8% | |||
Diversified Telecommunication Services - 0.5% | |||
Frontier Communications Parent, Inc. (a)(b) | 234,000 | 5,122 | |
GCI Liberty, Inc. Class A (c) | 24,724 | 0 | |
Iridium Communications, Inc. | 98,900 | 3,768 | |
8,890 | |||
Entertainment - 0.4% | |||
Endeavor Group Holdings, Inc. | 102,000 | 2,480 | |
Liberty Media Corp. Liberty Formula One Class C | 39,200 | 2,495 | |
TKO Group Holdings, Inc. | 27,900 | 2,158 | |
7,133 | |||
Interactive Media & Services - 0.3% | |||
Ziff Davis, Inc. (a) | 23,200 | 1,481 | |
Zoominfo Technologies, Inc. (a) | 320,600 | 4,607 | |
6,088 | |||
Media - 0.6% | |||
Nexstar Broadcasting Group, Inc. Class A | 38,100 | 5,408 | |
The New York Times Co. Class A | 134,800 | 6,334 | |
11,742 | |||
TOTAL COMMUNICATION SERVICES | 33,853 | ||
CONSUMER DISCRETIONARY - 13.9% | |||
Automobile Components - 1.2% | |||
Adient PLC (a) | 243,200 | 7,831 | |
Lear Corp. | 117,353 | 15,696 | |
23,527 | |||
Automobiles - 0.4% | |||
Harley-Davidson, Inc. | 255,172 | 7,653 | |
Broadline Retail - 0.6% | |||
Ollie's Bargain Outlet Holdings, Inc. (a) | 146,600 | 10,741 | |
Diversified Consumer Services - 0.9% | |||
H&R Block, Inc. | 235,900 | 10,715 | |
Service Corp. International | 116,700 | 7,150 | |
17,865 | |||
Hotels, Restaurants & Leisure - 5.2% | |||
ARAMARK Holdings Corp. | 502,900 | 14,086 | |
Brinker International, Inc. (a) | 127,000 | 4,573 | |
Caesars Entertainment, Inc. (a) | 218,402 | 9,767 | |
Churchill Downs, Inc. | 176,194 | 20,398 | |
Domino's Pizza, Inc. | 33,400 | 13,123 | |
Penn Entertainment, Inc. (a) | 89,700 | 2,203 | |
Planet Fitness, Inc. (a) | 102,100 | 6,937 | |
Red Rock Resorts, Inc. | 40,000 | 1,781 | |
Vail Resorts, Inc. | 25,800 | 5,607 | |
Wyndham Hotels & Resorts, Inc. | 257,933 | 19,949 | |
98,424 | |||
Household Durables - 1.3% | |||
Leggett & Platt, Inc. | 203,540 | 4,655 | |
NVR, Inc. (a) | 1,178 | 7,251 | |
Taylor Morrison Home Corp. (a) | 300,464 | 13,551 | |
25,457 | |||
Specialty Retail - 2.2% | |||
Burlington Stores, Inc. (a) | 74,400 | 12,617 | |
Five Below, Inc. (a) | 84,500 | 15,925 | |
Foot Locker, Inc. | 192,300 | 5,179 | |
Valvoline, Inc. | 247,504 | 8,475 | |
42,196 | |||
Textiles, Apparel & Luxury Goods - 2.1% | |||
Capri Holdings Ltd. (a) | 151,664 | 7,347 | |
Levi Strauss & Co. Class A | 102,400 | 1,586 | |
Prada SpA | 906,200 | 4,983 | |
PVH Corp. | 147,354 | 14,408 | |
Tapestry, Inc. | 347,549 | 11,007 | |
39,331 | |||
TOTAL CONSUMER DISCRETIONARY | 265,194 | ||
CONSUMER STAPLES - 4.9% | |||
Beverages - 0.5% | |||
Boston Beer Co., Inc. Class A (a) | 13,200 | 4,683 | |
Celsius Holdings, Inc. (a) | 114,900 | 5,689 | |
10,372 | |||
Consumer Staples Distribution & Retail - 2.7% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 216,400 | 13,975 | |
Casey's General Stores, Inc. | 24,500 | 6,747 | |
Performance Food Group Co. (a) | 271,700 | 17,674 | |
Sprouts Farmers Market LLC (a) | 135,400 | 5,833 | |
U.S. Foods Holding Corp. (a) | 178,700 | 7,832 | |
52,061 | |||
Food Products - 1.1% | |||
Darling Ingredients, Inc. (a) | 188,300 | 8,261 | |
Ingredion, Inc. | 69,400 | 7,113 | |
Lamb Weston Holdings, Inc. | 44,600 | 4,461 | |
Nomad Foods Ltd. (a) | 72,900 | 1,177 | |
21,012 | |||
Household Products - 0.2% | |||
Energizer Holdings, Inc. | 111,400 | 3,436 | |
Personal Care Products - 0.4% | |||
BellRing Brands, Inc. (a) | 68,446 | 3,621 | |
Edgewell Personal Care Co. | 119,000 | 4,142 | |
7,763 | |||
TOTAL CONSUMER STAPLES | 94,644 | ||
ENERGY - 4.4% | |||
Energy Equipment & Services - 1.3% | |||
Championx Corp. | 419,500 | 12,300 | |
Liberty Oilfield Services, Inc. Class A | 587,060 | 11,653 | |
23,953 | |||
Oil, Gas & Consumable Fuels - 3.1% | |||
Chesapeake Energy Corp. (b) | 159,000 | 12,769 | |
Chord Energy Corp. | 71,500 | 11,593 | |
EQT Corp. | 222,092 | 8,875 | |
HF Sinclair Corp. | 195,006 | 10,234 | |
Northern Oil & Gas, Inc. | 240,800 | 9,011 | |
Targa Resources Corp. | 79,500 | 7,191 | |
59,673 | |||
TOTAL ENERGY | 83,626 | ||
FINANCIALS - 15.3% | |||
Banks - 5.7% | |||
Associated Banc-Corp. | 484,153 | 8,589 | |
Bancorp, Inc., Delaware (a) | 904,809 | 35,292 | |
East West Bancorp, Inc. | 520,220 | 32,732 | |
Pathward Financial, Inc. | 189,948 | 9,420 | |
Piraeus Financial Holdings SA (a) | 1,022,216 | 3,627 | |
Popular, Inc. | 215,600 | 15,909 | |
Zions Bancorp NA | 116,666 | 4,157 | |
109,726 | |||
Capital Markets - 1.1% | |||
AllianceBernstein Holding LP | 141,300 | 4,091 | |
Interactive Brokers Group, Inc. | 186,180 | 14,492 | |
Patria Investments Ltd. | 144,000 | 2,039 | |
20,622 | |||
Consumer Finance - 0.9% | |||
NerdWallet, Inc. (a) | 496,143 | 5,830 | |
OneMain Holdings, Inc. | 262,080 | 11,086 | |
16,916 | |||
Financial Services - 3.9% | |||
AvidXchange Holdings, Inc. (a) | 461,496 | 4,924 | |
Cannae Holdings, Inc. (a) | 174,561 | 3,135 | |
Essent Group Ltd. | 270,382 | 13,070 | |
Flywire Corp. (a) | 406,800 | 9,478 | |
MGIC Investment Corp. | 373,661 | 6,573 | |
Nuvei Corp. (Canada) (d) | 261,814 | 5,372 | |
Repay Holdings Corp. (a) | 697,924 | 5,234 | |
Shift4 Payments, Inc. (a) | 42,713 | 2,811 | |
UWM Holdings Corp. Class A (b) | 966,440 | 5,267 | |
Voya Financial, Inc. | 127,370 | 9,108 | |
WEX, Inc. (a) | 53,934 | 9,524 | |
74,496 | |||
Insurance - 3.7% | |||
American Financial Group, Inc. | 87,027 | 9,955 | |
BRP Group, Inc. (a) | 548,744 | 9,598 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 8,625 | 7,928 | |
Primerica, Inc. | 68,300 | 14,310 | |
Reinsurance Group of America, Inc. | 93,936 | 15,317 | |
Unum Group | 301,454 | 12,963 | |
70,071 | |||
TOTAL FINANCIALS | 291,831 | ||
HEALTH CARE - 7.7% | |||
Biotechnology - 1.0% | |||
Repligen Corp. (a)(b) | 60,500 | 9,514 | |
United Therapeutics Corp. (a) | 39,500 | 9,480 | |
18,994 | |||
Health Care Equipment & Supplies - 2.4% | |||
Glaukos Corp. (a) | 80,500 | 5,143 | |
ICU Medical, Inc. (a) | 56,000 | 4,915 | |
Inspire Medical Systems, Inc. (a) | 31,500 | 4,577 | |
Masimo Corp. (a) | 115,000 | 10,782 | |
Penumbra, Inc. (a) | 76,500 | 16,990 | |
Tandem Diabetes Care, Inc. (a) | 190,000 | 3,846 | |
46,253 | |||
Health Care Providers & Services - 3.0% | |||
Acadia Healthcare Co., Inc. (a) | 148,500 | 10,839 | |
agilon health, Inc. (a) | 524,000 | 5,565 | |
Alignment Healthcare, Inc. (a) | 715,617 | 5,367 | |
Chemed Corp. | 23,800 | 13,495 | |
Molina Healthcare, Inc. (a) | 20,800 | 7,604 | |
Privia Health Group, Inc. (a) | 318,000 | 6,570 | |
Surgery Partners, Inc. (a) | 245,000 | 8,024 | |
57,464 | |||
Health Care Technology - 0.3% | |||
Evolent Health, Inc. (a) | 225,000 | 6,255 | |
Life Sciences Tools & Services - 1.0% | |||
10X Genomics, Inc. (a) | 168,403 | 7,329 | |
Bruker Corp. | 180,500 | 11,749 | |
19,078 | |||
TOTAL HEALTH CARE | 148,044 | ||
INDUSTRIALS - 21.8% | |||
Aerospace & Defense - 2.0% | |||
HEICO Corp. Class A | 148,613 | 20,421 | |
Howmet Aerospace, Inc. | 226,600 | 11,919 | |
Spirit AeroSystems Holdings, Inc. Class A (a) | 205,900 | 5,660 | |
38,000 | |||
Building Products - 1.3% | |||
Carlisle Companies, Inc. | 85,740 | 24,042 | |
Commercial Services & Supplies - 0.9% | |||
The Brink's Co. | 228,592 | 18,036 | |
Construction & Engineering - 1.2% | |||
EMCOR Group, Inc. | 13,700 | 2,912 | |
Willscot Mobile Mini Holdings (a) | 494,798 | 20,643 | |
23,555 | |||
Electrical Equipment - 1.6% | |||
nVent Electric PLC | 190,300 | 10,133 | |
Regal Rexnord Corp. | 163,633 | 19,603 | |
29,736 | |||
Ground Transportation - 2.7% | |||
Landstar System, Inc. | 128,711 | 22,222 | |
RXO, Inc. (a) | 271,800 | 5,697 | |
XPO, Inc. (a) | 270,900 | 23,373 | |
51,292 | |||
Machinery - 6.9% | |||
AGCO Corp. | 140,800 | 15,985 | |
Allison Transmission Holdings, Inc. | 114,363 | 6,116 | |
Chart Industries, Inc. (a) | 79,600 | 10,350 | |
Crane Co. | 140,100 | 14,806 | |
Dover Corp. | 63,500 | 8,964 | |
ESAB Corp. | 294,900 | 22,752 | |
Flowserve Corp. | 635,894 | 24,329 | |
IDEX Corp. | 39,675 | 8,002 | |
ITT, Inc. | 185,287 | 20,061 | |
131,365 | |||
Marine Transportation - 0.8% | |||
Kirby Corp. (a) | 209,494 | 16,079 | |
Professional Services - 2.6% | |||
CACI International, Inc. Class A (a) | 70,800 | 22,723 | |
Ceridian HCM Holding, Inc. (a)(b) | 45,200 | 3,114 | |
FTI Consulting, Inc. (a) | 17,332 | 3,821 | |
KBR, Inc. | 373,960 | 19,323 | |
48,981 | |||
Trading Companies & Distributors - 1.8% | |||
Air Lease Corp. Class A | 306,600 | 11,893 | |
WESCO International, Inc. | 146,813 | 22,881 | |
34,774 | |||
TOTAL INDUSTRIALS | 415,860 | ||
INFORMATION TECHNOLOGY - 10.3% | |||
Communications Equipment - 0.6% | |||
Ciena Corp. (a) | 53,700 | 2,462 | |
Lumentum Holdings, Inc. (a) | 216,400 | 9,262 | |
11,724 | |||
Electronic Equipment, Instruments & Components - 2.0% | |||
Avnet, Inc. | 156,700 | 7,327 | |
Cognex Corp. | 216,671 | 8,168 | |
Coherent Corp. (a) | 94,500 | 3,477 | |
Crane Nxt Co. | 125,300 | 6,448 | |
Jabil, Inc. | 46,900 | 5,409 | |
Trimble, Inc. (a) | 91,900 | 4,264 | |
TTM Technologies, Inc. (a) | 189,500 | 2,844 | |
37,937 | |||
IT Services - 2.0% | |||
Akamai Technologies, Inc. (a) | 22,300 | 2,576 | |
EPAM Systems, Inc. (a) | 32,200 | 8,314 | |
GoDaddy, Inc. (a) | 72,100 | 7,214 | |
Okta, Inc. (a) | 102,600 | 6,879 | |
Twilio, Inc. Class A (a) | 143,900 | 9,307 | |
Wix.com Ltd. (a) | 49,200 | 4,994 | |
39,284 | |||
Semiconductors & Semiconductor Equipment - 1.4% | |||
Cirrus Logic, Inc. (a) | 142,500 | 10,817 | |
Lattice Semiconductor Corp. (a) | 133,100 | 7,793 | |
SolarEdge Technologies, Inc. (a)(b) | 93,700 | 7,438 | |
26,048 | |||
Software - 4.2% | |||
Bill Holdings, Inc. (a) | 116,500 | 7,627 | |
Blackbaud, Inc. (a) | 127,200 | 9,571 | |
BlackLine, Inc. (a) | 137,600 | 7,960 | |
Elastic NV (a) | 103,200 | 8,293 | |
Five9, Inc. (a) | 123,000 | 9,375 | |
Gen Digital, Inc. | 424,500 | 9,373 | |
Guidewire Software, Inc. (a) | 23,500 | 2,349 | |
PTC, Inc. (a) | 52,900 | 8,324 | |
Tenable Holdings, Inc. (a) | 222,900 | 9,226 | |
Workiva, Inc. (a) | 88,432 | 8,505 | |
80,603 | |||
Technology Hardware, Storage & Peripherals - 0.1% | |||
Western Digital Corp. (a) | 24,400 | 1,179 | |
TOTAL INFORMATION TECHNOLOGY | 196,775 | ||
MATERIALS - 7.1% | |||
Chemicals - 2.0% | |||
Celanese Corp. Class A | 57,800 | 8,015 | |
RPM International, Inc. | 159,500 | 16,417 | |
Westlake Corp. | 103,000 | 13,224 | |
37,656 | |||
Construction Materials - 1.3% | |||
Eagle Materials, Inc. | 98,200 | 17,779 | |
Knife River Holding Co. (b) | 126,600 | 7,555 | |
25,334 | |||
Containers & Packaging - 0.9% | |||
Aptargroup, Inc. | 125,300 | 15,899 | |
Metals & Mining - 2.2% | |||
Cleveland-Cliffs, Inc. (a) | 602,100 | 10,332 | |
Lundin Mining Corp. | 1,228,900 | 8,513 | |
Reliance Steel & Aluminum Co. | 84,600 | 23,287 | |
42,132 | |||
Paper & Forest Products - 0.7% | |||
Louisiana-Pacific Corp. | 227,700 | 13,887 | |
TOTAL MATERIALS | 134,908 | ||
REAL ESTATE - 7.3% | |||
Equity Real Estate Investment Trusts (REITs) - 6.7% | |||
Americold Realty Trust | 187,100 | 5,282 | |
CubeSmart | 221,272 | 8,798 | |
Douglas Emmett, Inc. | 228,100 | 2,787 | |
EastGroup Properties, Inc. | 89,300 | 15,516 | |
Equity Lifestyle Properties, Inc. | 166,400 | 11,831 | |
Essex Property Trust, Inc. | 28,600 | 6,105 | |
Four Corners Property Trust, Inc. | 451,700 | 10,385 | |
Lamar Advertising Co. Class A | 96,700 | 9,795 | |
NETSTREIT Corp. | 159,520 | 2,453 | |
Omega Healthcare Investors, Inc. | 335,100 | 10,639 | |
Postal Realty Trust, Inc. | 728,630 | 10,201 | |
Ryman Hospitality Properties, Inc. | 20,200 | 2,027 | |
SITE Centers Corp. | 675,000 | 8,903 | |
Tanger Factory Outlet Centers, Inc. | 170,100 | 4,246 | |
Terreno Realty Corp. | 167,400 | 9,560 | |
Ventas, Inc. | 222,700 | 10,209 | |
128,737 | |||
Real Estate Management & Development - 0.6% | |||
Doma Holdings, Inc. Class A (a)(b) | 113,015 | 693 | |
Jones Lang LaSalle, Inc. (a) | 67,200 | 10,451 | |
11,144 | |||
TOTAL REAL ESTATE | 139,881 | ||
UTILITIES - 3.2% | |||
Electric Utilities - 1.5% | |||
Allete, Inc. | 73,100 | 4,056 | |
IDACORP, Inc. | 54,000 | 5,211 | |
OGE Energy Corp. | 248,000 | 8,692 | |
PNM Resources, Inc. | 143,400 | 5,961 | |
Portland General Electric Co. | 98,255 | 4,034 | |
27,954 | |||
Gas Utilities - 0.6% | |||
National Fuel Gas Co. | 78,400 | 3,982 | |
Southwest Gas Holdings, Inc. | 113,600 | 6,715 | |
10,697 | |||
Independent Power and Renewable Electricity Producers - 0.3% | |||
Vistra Corp. | 176,000 | 6,232 | |
Multi-Utilities - 0.3% | |||
NorthWestern Energy Corp. | 134,400 | 6,762 | |
Water Utilities - 0.5% | |||
Essential Utilities, Inc. | 262,615 | 9,352 | |
TOTAL UTILITIES | 60,997 | ||
TOTAL COMMON STOCKS (Cost $1,648,211) | 1,865,613 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (e) (000s) | Value ($) (000s) | ||
U.S. Treasury Bills, yield at date of purchase 5.37% to 5.4% 12/21/23 to 12/28/23 (f) (Cost $1,007) | 1,010 | 1,007 | |
Money Market Funds - 3.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (g) | 26,890,193 | 26,896 | |
Fidelity Securities Lending Cash Central Fund 5.39% (g)(h) | 38,815,196 | 38,819 | |
TOTAL MONEY MARKET FUNDS (Cost $65,713) | 65,715 | ||
TOTAL INVESTMENT IN SECURITIES - 101.2% (Cost $1,714,931) | 1,932,335 |
NET OTHER ASSETS (LIABILITIES) - (1.2)% | (22,797) |
NET ASSETS - 100.0% | 1,909,538 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) (000s) | Value ($) (000s) | Unrealized Appreciation/ (Depreciation) ($) (000s) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P MidCap 400 Index Contracts (United States) | 64 | Dec 2023 | 16,433 | (14) | (14) |
The notional amount of futures purchased as a percentage of Net Assets is 0.9% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Level 3 security |
(d) | 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 $5,372,000 or 0.3% of net assets. |
(e) | Amount is stated in United States dollars unless otherwise noted. |
(f) | 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 $239,000. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(h) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 56,961 | 545,419 | 575,485 | 1,615 | 2 | (1) | 26,896 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 29,703 | 709,930 | 700,814 | 325 | - | - | 38,819 | 0.1% |
Total | 86,664 | 1,255,349 | 1,276,299 | 1,940 | 2 | (1) | 65,715 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 33,853 | 33,853 | - | - |
Consumer Discretionary | 265,194 | 265,194 | - | - |
Consumer Staples | 94,644 | 94,644 | - | - |
Energy | 83,626 | 83,626 | - | - |
Financials | 291,831 | 291,831 | - | - |
Health Care | 148,044 | 148,044 | - | - |
Industrials | 415,860 | 415,860 | - | - |
Information Technology | 196,775 | 196,775 | - | - |
Materials | 134,908 | 134,908 | - | - |
Real Estate | 139,881 | 139,881 | - | - |
Utilities | 60,997 | 60,997 | - | - |
U.S. Government and Government Agency Obligations | 1,007 | - | 1,007 | - |
Money Market Funds | 65,715 | 65,715 | - | - |
Total Investments in Securities: | 1,932,335 | 1,931,328 | 1,007 | - |
Derivative Instruments: Liabilities | ||||
Futures Contracts | (14) | (14) | - | - |
Total Liabilities | (14) | (14) | - | - |
Total Derivative Instruments: | (14) | (14) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
(Amounts in thousands) | Asset ($) | Liability ($) |
Equity Risk | ||
Futures Contracts (a) | 0 | (14) |
Total Equity Risk | 0 | (14) |
Total Value of Derivatives | 0 | (14) |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $37,904) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,649,218) | $ | 1,866,620 | ||
Fidelity Central Funds (cost $65,713) | 65,715 | |||
Total Investment in Securities (cost $1,714,931) | $ | 1,932,335 | ||
Cash | 65 | |||
Receivable for investments sold | 18,429 | |||
Receivable for fund shares sold | 770 | |||
Dividends receivable | 1,762 | |||
Distributions receivable from Fidelity Central Funds | 162 | |||
Receivable for daily variation margin on futures contracts | 44 | |||
Prepaid expenses | 2 | |||
Total assets | 1,953,569 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,755 | ||
Payable for fund shares redeemed | 2,079 | |||
Accrued management fee | 715 | |||
Distribution and service plan fees payable | 313 | |||
Other affiliated payables | 292 | |||
Other payables and accrued expenses | 57 | |||
Collateral on securities loaned | 38,820 | |||
Total Liabilities | 44,031 | |||
Net Assets | $ | 1,909,538 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,687,300 | ||
Total accumulated earnings (loss) | 222,238 | |||
Net Assets | $ | 1,909,538 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($603,063 ÷ 17,014 shares)(a)(b) | $ | 35.44 | ||
Maximum offering price per share (100/94.25 of $35.44) | $ | 37.60 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($428,856 ÷ 11,984 shares)(a)(b) | $ | 35.78 | ||
Maximum offering price per share (100/96.50 of $35.78) | $ | 37.08 | ||
Class C : | ||||
Net Asset Value and offering price per share ($18,853 ÷ 620 shares)(a)(b) | $ | 30.42 | ||
Fidelity Stock Selector Mid Cap Fund : | ||||
Net Asset Value, offering price and redemption price per share ($326,507 ÷ 8,577 shares) | $ | 38.07 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($340,854 ÷ 8,926 shares) | $ | 38.19 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($191,405 ÷ 5,017 shares) | $ | 38.15 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 28,390 | ||
Non-Cash dividends | 2,014 | |||
Interest | 226 | |||
Income from Fidelity Central Funds (including $325 from security lending) | 1,940 | |||
Total Income | 32,570 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 10,149 | ||
Performance adjustment | (526) | |||
Transfer agent fees | 3,183 | |||
Distribution and service plan fees | 3,974 | |||
Accounting fees | 521 | |||
Custodian fees and expenses | 49 | |||
Independent trustees' fees and expenses | 11 | |||
Registration fees | 116 | |||
Audit | 59 | |||
Legal | 7 | |||
Interest | 8 | |||
Miscellaneous | 8 | |||
Total expenses before reductions | 17,559 | |||
Expense reductions | (120) | |||
Total expenses after reductions | 17,439 | |||
Net Investment income (loss) | 15,131 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,050) | |||
Fidelity Central Funds | 2 | |||
Foreign currency transactions | (9) | |||
Futures contracts | 637 | |||
Total net realized gain (loss) | (420) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 24,400 | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | 9 | |||
Futures contracts | (1,272) | |||
Total change in net unrealized appreciation (depreciation) | 23,136 | |||
Net gain (loss) | 22,716 | |||
Net increase (decrease) in net assets resulting from operations | $ | 37,847 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 15,131 | $ | 11,268 |
Net realized gain (loss) | (420) | 174,994 | ||
Change in net unrealized appreciation (depreciation) | 23,136 | (275,836) | ||
Net increase (decrease) in net assets resulting from operations | 37,847 | (89,574) | ||
Distributions to shareholders | (176,342) | (266,942) | ||
Share transactions - net increase (decrease) | (44,418) | 259,019 | ||
Total increase (decrease) in net assets | (182,913) | (97,497) | ||
Net Assets | ||||
Beginning of period | 2,092,451 | 2,189,948 | ||
End of period | $ | 1,909,538 | $ | 2,092,451 |
Fidelity Advisor® Stock Selector Mid Cap Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 38.19 | $ | 45.46 | $ | 37.74 | $ | 36.07 | $ | 39.28 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .26 | .20 | .20 | .30 C | .25 | |||||
Net realized and unrealized gain (loss) | .35 | (1.76) | 8.40 | 2.85 | 2.80 D | |||||
Total from investment operations | .61 | (1.56) | 8.60 | 3.15 | 3.05 | |||||
Distributions from net investment income | (.18) | (.21) | (.35) | (.21) | (.25) | |||||
Distributions from net realized gain | (3.18) | (5.50) | (.54) | (1.27) | (6.01) | |||||
Total distributions | (3.36) | (5.71) | (.88) E | (1.48) | (6.26) | |||||
Net asset value, end of period | $ | 35.44 | $ | 38.19 | $ | 45.46 | $ | 37.74 | $ | 36.07 |
Total Return F,G | 2.23% | (4.66)% | 23.19% | 8.99% | 12.13% D | |||||
Ratios to Average Net Assets B,H,I | ||||||||||
Expenses before reductions | .96% | .97% | 1.05% | 1.14% | 1.14% | |||||
Expenses net of fee waivers, if any | .96% | .97% | 1.05% | 1.14% | 1.14% | |||||
Expenses net of all reductions | .96% | .97% | 1.05% | 1.13% | 1.14% | |||||
Net investment income (loss) | .73% | .52% | .45% | .94% C | .75% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 603 | $ | 654 | $ | 736 | $ | 626 | $ | 623 |
Portfolio turnover rate J | 44% | 64% | 43% | 86% | 57% |
Fidelity Advisor® Stock Selector Mid Cap Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 38.50 | $ | 45.77 | $ | 37.99 | $ | 36.30 | $ | 39.43 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .17 | .11 | .09 | .22 C | .17 | |||||
Net realized and unrealized gain (loss) | .37 | (1.80) | 8.48 | 2.86 | 2.85 D | |||||
Total from investment operations | .54 | (1.69) | 8.57 | 3.08 | 3.02 | |||||
Distributions from net investment income | (.08) | (.09) | (.25) | (.12) | (.14) | |||||
Distributions from net realized gain | (3.18) | (5.50) | (.54) | (1.27) | (6.01) | |||||
Total distributions | (3.26) | (5.58) E | (.79) | (1.39) | (6.15) | |||||
Net asset value, end of period | $ | 35.78 | $ | 38.50 | $ | 45.77 | $ | 37.99 | $ | 36.30 |
Total Return F,G | 1.99% | (4.90)% | 22.91% | 8.71% | 11.88% D | |||||
Ratios to Average Net Assets B,H,I | ||||||||||
Expenses before reductions | 1.21% | 1.22% | 1.29% | 1.38% | 1.38% | |||||
Expenses net of fee waivers, if any | 1.20% | 1.21% | 1.29% | 1.38% | 1.38% | |||||
Expenses net of all reductions | 1.20% | 1.21% | 1.29% | 1.37% | 1.38% | |||||
Net investment income (loss) | .49% | .27% | .20% | .70% C | .51% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 429 | $ | 464 | $ | 552 | $ | 496 | $ | 544 |
Portfolio turnover rate J | 44% | 64% | 43% | 86% | 57% |
Fidelity Advisor® Stock Selector Mid Cap Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.33 | $ | 40.31 | $ | 33.58 | $ | 32.15 | $ | 35.67 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.02) | (.09) | (.14) | .04 C | (.01) | |||||
Net realized and unrealized gain (loss) | .29 | (1.53) | 7.51 | 2.50 | 2.46 D | |||||
Total from investment operations | .27 | (1.62) | 7.37 | 2.54 | 2.45 | |||||
Distributions from net investment income | - | - | (.10) | - | - | |||||
Distributions from net realized gain | (3.18) | (5.36) | (.54) | (1.11) | (5.97) | |||||
Total distributions | (3.18) | (5.36) | (.64) | (1.11) | (5.97) | |||||
Net asset value, end of period | $ | 30.42 | $ | 33.33 | $ | 40.31 | $ | 33.58 | $ | 32.15 |
Total Return E,F | 1.44% | (5.41)% | 22.25% | 8.10% | 11.27% D | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.76% | 1.77% | 1.84% | 1.93% | 1.93% | |||||
Expenses net of fee waivers, if any | 1.75% | 1.76% | 1.84% | 1.93% | 1.93% | |||||
Expenses net of all reductions | 1.75% | 1.76% | 1.84% | 1.92% | 1.93% | |||||
Net investment income (loss) | (.07)% | (.28)% | (.35)% | .15% C | (.04)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 19 | $ | 22 | $ | 27 | $ | 30 | $ | 35 |
Portfolio turnover rate I | 44% | 64% | 43% | 86% | 57% |
Fidelity® Stock Selector Mid Cap Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 40.76 | $ | 48.16 | $ | 39.90 | $ | 38.00 | $ | 41.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .37 | .32 | .34 | .40 C | .34 | |||||
Net realized and unrealized gain (loss) | .40 | (1.90) | 8.88 | 3.01 | 2.99 D | |||||
Total from investment operations | .77 | (1.58) | 9.22 | 3.41 | 3.33 | |||||
Distributions from net investment income | (.27) | (.33) | (.42) | (.24) | (.32) | |||||
Distributions from net realized gain | (3.18) | (5.50) | (.54) | (1.27) | (6.01) | |||||
Total distributions | (3.46) E | (5.82) E | (.96) | (1.51) | (6.33) | |||||
Net asset value, end of period | $ | 38.07 | $ | 40.76 | $ | 48.16 | $ | 39.90 | $ | 38.00 |
Total Return F | 2.52% | (4.43)% | 23.52% | 9.24% | 12.38% D | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .71% | .72% | .79% | .89% | .94% | |||||
Expenses net of fee waivers, if any | .71% | .72% | .79% | .89% | .94% | |||||
Expenses net of all reductions | .71% | .72% | .79% | .88% | .94% | |||||
Net investment income (loss) | .98% | .77% | .71% | 1.19% C | .95% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 327 | $ | 349 | $ | 395 | $ | 342 | $ | 362 |
Portfolio turnover rate I | 44% | 64% | 43% | 86% | 57% |
Fidelity Advisor® Stock Selector Mid Cap Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 40.88 | $ | 48.29 | $ | 40.01 | $ | 38.15 | $ | 41.11 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .36 | .31 | .33 | .40 C | .35 | |||||
Net realized and unrealized gain (loss) | .40 | (1.90) | 8.91 | 3.02 | 3.01 D | |||||
Total from investment operations | .76 | (1.59) | 9.24 | 3.42 | 3.36 | |||||
Distributions from net investment income | (.27) | (.32) | (.42) | (.29) | (.31) | |||||
Distributions from net realized gain | (3.18) | (5.50) | (.54) | (1.27) | (6.01) | |||||
Total distributions | (3.45) | (5.82) | (.96) | (1.56) | (6.32) | |||||
Net asset value, end of period | $ | 38.19 | $ | 40.88 | $ | 48.29 | $ | 40.01 | $ | 38.15 |
Total Return E | 2.49% | (4.45)% | 23.50% | 9.23% | 12.41% D | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .73% | .74% | .82% | .90% | .91% | |||||
Expenses net of fee waivers, if any | .72% | .74% | .81% | .90% | .91% | |||||
Expenses net of all reductions | .72% | .74% | .81% | .89% | .91% | |||||
Net investment income (loss) | .96% | .75% | .68% | 1.18% C | .98% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 341 | $ | 386 | $ | 413 | $ | 293 | $ | 312 |
Portfolio turnover rate H | 44% | 64% | 43% | 86% | 57% |
Fidelity Advisor® Stock Selector Mid Cap Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 40.86 | $ | 48.26 | $ | 39.97 | $ | 38.12 | $ | 41.15 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .42 | .36 | .38 | .44 C | .41 | |||||
Net realized and unrealized gain (loss) | .38 | (1.88) | 8.92 | 3.03 | 2.99 D | |||||
Total from investment operations | .80 | (1.52) | 9.30 | 3.47 | 3.40 | |||||
Distributions from net investment income | (.33) | (.38) | (.47) | (.35) | (.42) | |||||
Distributions from net realized gain | (3.18) | (5.50) | (.54) | (1.27) | (6.01) | |||||
Total distributions | (3.51) | (5.88) | (1.01) | (1.62) | (6.43) | |||||
Net asset value, end of period | $ | 38.15 | $ | 40.86 | $ | 48.26 | $ | 39.97 | $ | 38.12 |
Total Return E | 2.63% | (4.30)% | 23.69% | 9.39% | 12.59% D | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .58% | .59% | .67% | .75% | .75% | |||||
Expenses net of fee waivers, if any | .57% | .59% | .67% | .75% | .75% | |||||
Expenses net of all reductions | .57% | .59% | .67% | .73% | .75% | |||||
Net investment income (loss) | 1.11% | .90% | .82% | 1.33% C | 1.14% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 191 | $ | 217 | $ | 67 | $ | 150 | $ | 245 |
Portfolio turnover rate H | 44% | 64% | 43% | 86% | 57% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $329,878 |
Gross unrealized depreciation | (116,713) |
Net unrealized appreciation (depreciation) | $213,165 |
Tax Cost | $1,719,170 |
Undistributed ordinary income | $11,284 |
Capital loss carryforward | $(2,206) |
Net unrealized appreciation (depreciation) on securities and other investments | $213,160 |
Short-term | $(2,206) |
Long-term | - |
Total capital loss carryforward | $(2,206) |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $10,326 | $ 101,427 |
Long-term Capital Gains | 166,016 | 165,515 |
Total | $176,342 | $ 266,942 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Advisor Stock Selector Mid Cap Fund | 839,511 | 1,019,688 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $1,546 | $ 14 |
Class M | .25% | .25% | 2,224 | 13 |
Class C | .75% | .25% | 204 | 15 |
$3,974 | $42 |
Retained by FDC | |
Class A | $42 |
Class M | 9 |
Class C A | - B |
$51 |
Amount | % of Class-Level Average Net Assets | |
Class A | $1,073 | .17 |
Class M | 741 | .17 |
Class C | 44 | .22 |
Fidelity Stock Selector Mid Cap Fund | 591 | .18 |
Class I | 666 | .19 |
Class Z | 68 | .04 |
$3,183 |
% of Class-Level Average Net Assets | |
Class A | 0.1710% |
Class M | 0.1648% |
Class C | 0.2000% |
Fidelity Stock Selector Mid Cap Fund | 0.1652% |
Class I | 0.1868% |
% of Average Net Assets | |
Fidelity Advisor Stock Selector Mid Cap Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Stock Selector Mid Cap Fund | 0.0268% |
Amount | |
Fidelity Advisor Stock Selector Mid Cap Fund | $ 21 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Stock Selector Mid Cap Fund | Borrower | $ 8,430 | 4.69% | $8 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Stock Selector Mid Cap Fund | 38,189 | 68,292 | (5,021) |
Amount | |
Fidelity Advisor Stock Selector Mid Cap Fund | $4 |
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 Stock Selector Mid Cap Fund | $34 | $ 48 | $178 |
Expense reduction | |
Class M | $3 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Stock Selector Mid Cap Fund | ||
Distributions to shareholders | ||
Class A | $56,107 | $91,386 |
Class M | 39,007 | 66,607 |
Class C | 2,087 | 3,596 |
Fidelity Stock Selector Mid Cap Fund | 29,748 | 47,323 |
Class I | 32,276 | 49,700 |
Class Z | 17,117 | 8,330 |
Total | $176,342 | $266,942 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Stock Selector Mid Cap Fund | ||||
Class A | ||||
Shares sold | 965 | 1,111 | $33,647 | $42,903 |
Reinvestment of distributions | 1,583 | 2,014 | 52,298 | 85,227 |
Shares redeemed | (2,666) | (2,177) | (93,885) | (85,105) |
Net increase (decrease) | (118) | 948 | $(7,940) | $43,025 |
Class M | ||||
Shares sold | 696 | 651 | $24,702 | $25,411 |
Reinvestment of distributions | 1,139 | 1,517 | 38,061 | 64,852 |
Shares redeemed | (1,907) | (2,178) | (67,682) | (84,679) |
Net increase (decrease) | (72) | (10) | $(4,919) | $5,584 |
Class C | ||||
Shares sold | 78 | 65 | $2,379 | $2,165 |
Reinvestment of distributions | 73 | 96 | 2,083 | 3,589 |
Shares redeemed | (192) | (178) | (5,778) | (6,017) |
Net increase (decrease) | (41) | (17) | $(1,316) | $(263) |
Fidelity Stock Selector Mid Cap Fund | ||||
Shares sold | 857 | 668 | $32,477 | $27,209 |
Reinvestment of distributions | 800 | 1,010 | 28,328 | 45,509 |
Shares redeemed | (1,654) | (1,295) | (61,906) | (53,611) |
Net increase (decrease) | 3 | 383 | $(1,101) | $19,107 |
Class I | ||||
Shares sold | 1,283 | 1,936 | $48,524 | $77,354 |
Reinvestment of distributions | 881 | 1,062 | 31,280 | 48,006 |
Shares redeemed | (2,678) | (2,110) | (100,697) | (87,273) |
Net increase (decrease) | (514) | 888 | $(20,893) | $38,087 |
Class Z | ||||
Shares sold | 2,610 | 4,138 | $99,830 | $161,875 |
Reinvestment of distributions | 461 | 168 | 16,346 | 7,560 |
Shares redeemed | (3,356) | (396) | (124,425) | (15,956) |
Net increase (decrease) | (285) | 3,910 | $(8,249) | $153,479 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Stock Selector Mid Cap Fund | ||||||||||
Class A | .94% | |||||||||
Actual | $ 1,000 | $ 1,061.40 | $ 4.86 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.36 | $ 4.76 | |||||||
Class M | 1.18% | |||||||||
Actual | $ 1,000 | $ 1,060.10 | $ 6.09 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.15 | $ 5.97 | |||||||
Class C | 1.73% | |||||||||
Actual | $ 1,000 | $ 1,057.40 | $ 8.92 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.39 | $ 8.74 | |||||||
Fidelity® Stock Selector Mid Cap Fund | .69% | |||||||||
Actual | $ 1,000 | $ 1,063.10 | $ 3.57 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.61 | $ 3.50 | |||||||
Class I | .71% | |||||||||
Actual | $ 1,000 | $ 1,062.90 | $ 3.67 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.51 | $ 3.60 | |||||||
Class Z | .56% | |||||||||
Actual | $ 1,000 | $ 1,063.60 | $ 2.90 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.26 | $ 2.84 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | 1.89% | 9.71% | 9.00% |
Class M (incl. 3.50% sales charge) | 4.08% | 9.95% | 8.98% |
Class C (incl. contingent deferred sales charge) | 6.32% | 10.16% | 8.98% |
Class I | 8.39% | 11.29% | 9.94% |
Class Z | 8.54% | 11.45% | 10.04% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Growth & Income Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.1 | |
Exxon Mobil Corp. | 6.8 | |
Wells Fargo & Co. | 5.3 | |
General Electric Co. | 4.7 | |
Apple, Inc. | 3.2 | |
Bank of America Corp. | 2.5 | |
UnitedHealth Group, Inc. | 2.2 | |
Visa, Inc. Class A | 2.0 | |
The Boeing Co. | 2.0 | |
Comcast Corp. Class A | 1.7 | |
39.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 19.9 | |
Financials | 17.7 | |
Industrials | 16.0 | |
Health Care | 11.9 | |
Energy | 10.2 | |
Consumer Staples | 6.4 | |
Communication Services | 4.1 | |
Consumer Discretionary | 2.6 | |
Utilities | 2.3 | |
Materials | 1.7 | |
Real Estate | 1.7 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 94.4% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 4.0% | |||
Diversified Telecommunication Services - 0.6% | |||
Cellnex Telecom SA (a) | 90,400 | 3,451 | |
Verizon Communications, Inc. | 82,209 | 3,151 | |
6,602 | |||
Entertainment - 1.2% | |||
The Walt Disney Co. | 49,700 | 4,607 | |
Universal Music Group NV | 230,200 | 6,082 | |
Warner Music Group Corp. Class A | 56,000 | 1,854 | |
12,543 | |||
Media - 2.2% | |||
Comcast Corp. Class A | 443,658 | 18,585 | |
Interpublic Group of Companies, Inc. (b) | 185,100 | 5,690 | |
24,275 | |||
TOTAL COMMUNICATION SERVICES | 43,420 | ||
CONSUMER DISCRETIONARY - 2.6% | |||
Automobile Components - 0.2% | |||
BorgWarner, Inc. | 64,200 | 2,163 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Amadeus IT Holding SA Class A | 67,300 | 4,602 | |
Churchill Downs, Inc. | 9,200 | 1,065 | |
Domino's Pizza, Inc. | 6,100 | 2,397 | |
Marriott International, Inc. Class A | 12,600 | 2,554 | |
Starbucks Corp. | 22,200 | 2,204 | |
12,822 | |||
Household Durables - 0.2% | |||
Sony Group Corp. sponsored ADR | 14,100 | 1,212 | |
Whirlpool Corp. (b) | 4,200 | 457 | |
1,669 | |||
Specialty Retail - 0.7% | |||
Lowe's Companies, Inc. | 39,457 | 7,845 | |
Textiles, Apparel & Luxury Goods - 0.3% | |||
Compagnie Financiere Richemont SA | 399 | 50 | |
Compagnie Financiere Richemont SA Series A | 1,740 | 218 | |
NIKE, Inc. Class B | 15,900 | 1,753 | |
Puma AG | 18,944 | 1,220 | |
Tapestry, Inc. | 300 | 10 | |
Wolverine World Wide, Inc. | 20,800 | 178 | |
3,429 | |||
TOTAL CONSUMER DISCRETIONARY | 27,928 | ||
CONSUMER STAPLES - 6.4% | |||
Beverages - 2.3% | |||
Diageo PLC sponsored ADR | 30,500 | 4,287 | |
Keurig Dr. Pepper, Inc. | 236,800 | 7,476 | |
Pernod Ricard SA | 11,700 | 2,019 | |
Remy Cointreau SA | 4,044 | 481 | |
The Coca-Cola Co. | 176,184 | 10,296 | |
24,559 | |||
Consumer Staples Distribution & Retail - 1.4% | |||
Sysco Corp. | 76,600 | 5,528 | |
Target Corp. | 34,300 | 4,590 | |
Walmart, Inc. (c) | 32,700 | 5,091 | |
15,209 | |||
Household Products - 0.2% | |||
Colgate-Palmolive Co. | 6,800 | 536 | |
Kimberly-Clark Corp. | 1,700 | 210 | |
Procter & Gamble Co. | 9,300 | 1,428 | |
2,174 | |||
Personal Care Products - 1.6% | |||
Estee Lauder Companies, Inc. Class A | 25,500 | 3,256 | |
Haleon PLC ADR | 730,809 | 6,256 | |
Kenvue, Inc. | 390,107 | 7,974 | |
17,486 | |||
Tobacco - 0.9% | |||
Altria Group, Inc. | 184,920 | 7,774 | |
Philip Morris International, Inc. | 18,300 | 1,708 | |
9,482 | |||
TOTAL CONSUMER STAPLES | 68,910 | ||
ENERGY - 10.2% | |||
Oil, Gas & Consumable Fuels - 10.2% | |||
Enterprise Products Partners LP | 23,300 | 624 | |
Exxon Mobil Corp. | 719,575 | 73,929 | |
Hess Corp. | 118,715 | 16,687 | |
Imperial Oil Ltd. | 163,300 | 9,200 | |
Kosmos Energy Ltd. (d) | 394,300 | 2,677 | |
Shell PLC ADR | 110,900 | 7,297 | |
110,414 | |||
FINANCIALS - 17.7% | |||
Banks - 11.5% | |||
Bank of America Corp. | 896,742 | 27,342 | |
JPMorgan Chase & Co. | 63,543 | 9,918 | |
M&T Bank Corp. | 26,300 | 3,371 | |
PNC Financial Services Group, Inc. | 93,816 | 12,568 | |
Truist Financial Corp. | 141,049 | 4,533 | |
U.S. Bancorp | 262,130 | 9,992 | |
Wells Fargo & Co. | 1,278,850 | 57,024 | |
124,748 | |||
Capital Markets - 2.2% | |||
3i Group PLC | 15,800 | 445 | |
Brookfield Corp. Class A | 76,601 | 2,702 | |
Charles Schwab Corp. | 6,600 | 405 | |
CME Group, Inc. | 1,600 | 349 | |
Intercontinental Exchange, Inc. | 1,100 | 125 | |
KKR & Co. LP | 64,113 | 4,862 | |
Moody's Corp. | 1,500 | 547 | |
Morgan Stanley | 25,730 | 2,041 | |
Northern Trust Corp. | 104,637 | 8,292 | |
Raymond James Financial, Inc. | 36,250 | 3,812 | |
State Street Corp. | 7,570 | 551 | |
24,131 | |||
Financial Services - 3.1% | |||
Edenred SA | 61,300 | 3,336 | |
Fidelity National Information Services, Inc. | 53,200 | 3,120 | |
Global Payments, Inc. | 22,400 | 2,608 | |
MasterCard, Inc. Class A | 7,600 | 3,145 | |
Visa, Inc. Class A | 84,140 | 21,597 | |
33,806 | |||
Insurance - 0.9% | |||
American Financial Group, Inc. | 4,500 | 515 | |
Arthur J. Gallagher & Co. | 3,300 | 822 | |
Brookfield Reinsurance Ltd. | 172 | 6 | |
Chubb Ltd. | 12,100 | 2,776 | |
Marsh & McLennan Companies, Inc. | 17,766 | 3,543 | |
The Travelers Companies, Inc. | 8,000 | 1,445 | |
9,107 | |||
TOTAL FINANCIALS | 191,792 | ||
HEALTH CARE - 11.9% | |||
Health Care Equipment & Supplies - 1.8% | |||
Abbott Laboratories | 22,200 | 2,315 | |
Becton, Dickinson & Co. | 14,593 | 3,447 | |
Boston Scientific Corp. (d) | 180,120 | 10,067 | |
GE Healthcare Holding LLC | 11,212 | 768 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) (b) | 105,029 | 2,145 | |
Sonova Holding AG | 2,713 | 782 | |
19,524 | |||
Health Care Providers & Services - 5.8% | |||
Cardinal Health, Inc. (c) | 55,400 | 5,932 | |
Cigna Group | 49,200 | 12,934 | |
CVS Health Corp. | 80,451 | 5,467 | |
Humana, Inc. | 4,100 | 1,988 | |
McKesson Corp. (c) | 25,133 | 11,827 | |
UnitedHealth Group, Inc. | 43,700 | 24,165 | |
62,313 | |||
Life Sciences Tools & Services - 0.7% | |||
Danaher Corp. | 31,500 | 7,034 | |
Thermo Fisher Scientific, Inc. | 1,500 | 744 | |
7,778 | |||
Pharmaceuticals - 3.6% | |||
Bristol-Myers Squibb Co. | 217,400 | 10,735 | |
Eli Lilly & Co. (c) | 16,100 | 9,516 | |
GSK PLC sponsored ADR | 175,447 | 6,314 | |
Johnson & Johnson | 50,975 | 7,884 | |
Sanofi SA sponsored ADR | 22,200 | 1,038 | |
UCB SA | 47,600 | 3,515 | |
Zoetis, Inc. Class A | 1,500 | 265 | |
39,267 | |||
TOTAL HEALTH CARE | 128,882 | ||
INDUSTRIALS - 16.0% | |||
Aerospace & Defense - 3.8% | |||
Airbus Group NV | 40,900 | 6,078 | |
General Dynamics Corp. | 15,200 | 3,754 | |
Howmet Aerospace, Inc. | 30,050 | 1,581 | |
Huntington Ingalls Industries, Inc. | 13,600 | 3,223 | |
RTX Corp. (c) | 15,700 | 1,279 | |
Safran SA | 14,300 | 2,514 | |
Textron, Inc. | 19,700 | 1,510 | |
The Boeing Co. (d) | 91,110 | 21,104 | |
41,043 | |||
Air Freight & Logistics - 1.6% | |||
Expeditors International of Washington, Inc. | 700 | 84 | |
FedEx Corp. | 12,600 | 3,261 | |
United Parcel Service, Inc. Class B | 93,179 | 14,127 | |
17,472 | |||
Building Products - 0.3% | |||
A.O. Smith Corp. | 19,500 | 1,470 | |
Johnson Controls International PLC | 35,900 | 1,896 | |
3,366 | |||
Commercial Services & Supplies - 0.5% | |||
GFL Environmental, Inc. | 165,900 | 4,761 | |
Veralto Corp. | 9,733 | 752 | |
5,513 | |||
Electrical Equipment - 0.9% | |||
Acuity Brands, Inc. | 14,600 | 2,617 | |
AMETEK, Inc. | 3,400 | 528 | |
Hubbell, Inc. Class B | 13,612 | 4,084 | |
Regal Rexnord Corp. | 16,700 | 2,001 | |
Rockwell Automation, Inc. | 2,100 | 578 | |
9,808 | |||
Ground Transportation - 0.4% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 82,100 | 4,415 | |
Industrial Conglomerates - 4.8% | |||
3M Co. | 11,400 | 1,129 | |
General Electric Co. (c) | 418,236 | 50,941 | |
52,070 | |||
Machinery - 1.7% | |||
Allison Transmission Holdings, Inc. | 43,300 | 2,316 | |
Caterpillar, Inc. | 3,000 | 752 | |
Cummins, Inc. | 7,100 | 1,592 | |
Donaldson Co., Inc. | 77,500 | 4,715 | |
Fortive Corp. | 32,000 | 2,207 | |
Nordson Corp. | 17,700 | 4,166 | |
Otis Worldwide Corp. | 9,565 | 821 | |
Stanley Black & Decker, Inc. | 9,910 | 901 | |
Westinghouse Air Brake Tech Co. | 7,331 | 855 | |
18,325 | |||
Passenger Airlines - 0.0% | |||
Copa Holdings SA Class A | 3,400 | 315 | |
Professional Services - 0.8% | |||
Equifax, Inc. | 9,500 | 2,068 | |
Genpact Ltd. | 66,400 | 2,255 | |
Paycom Software, Inc. | 2,000 | 363 | |
RELX PLC (London Stock Exchange) | 94,538 | 3,638 | |
TransUnion Holding Co., Inc. | 8,500 | 499 | |
8,823 | |||
Trading Companies & Distributors - 1.0% | |||
Brenntag SE | 8,300 | 716 | |
Watsco, Inc. (b) | 22,764 | 8,701 | |
WESCO International, Inc. | 8,800 | 1,371 | |
10,788 | |||
Transportation Infrastructure - 0.2% | |||
Aena SME SA (a) | 9,700 | 1,668 | |
TOTAL INDUSTRIALS | 173,606 | ||
INFORMATION TECHNOLOGY - 19.9% | |||
Electronic Equipment, Instruments & Components - 0.3% | |||
CDW Corp. | 12,900 | 2,720 | |
IT Services - 0.5% | |||
Amdocs Ltd. | 28,800 | 2,413 | |
IBM Corp. | 19,400 | 3,076 | |
5,489 | |||
Semiconductors & Semiconductor Equipment - 4.8% | |||
Analog Devices, Inc. | 20,600 | 3,778 | |
Applied Materials, Inc. | 21,695 | 3,249 | |
BE Semiconductor Industries NV | 11,900 | 1,664 | |
Broadcom, Inc. | 4,200 | 3,888 | |
Lam Research Corp. | 4,400 | 3,150 | |
Marvell Technology, Inc. | 144,600 | 8,059 | |
Microchip Technology, Inc. | 6,200 | 517 | |
NVIDIA Corp. | 31,205 | 14,595 | |
NXP Semiconductors NV | 24,100 | 4,918 | |
Qualcomm, Inc. (c) | 30,698 | 3,962 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 39,400 | 3,834 | |
Teradyne, Inc. | 8,600 | 793 | |
52,407 | |||
Software - 11.0% | |||
Intuit, Inc. | 15,400 | 8,800 | |
Microsoft Corp. | 258,083 | 97,790 | |
Sage Group PLC | 160,900 | 2,296 | |
SAP SE sponsored ADR | 63,300 | 10,072 | |
118,958 | |||
Technology Hardware, Storage & Peripherals - 3.3% | |||
Apple, Inc. (c) | 181,992 | 34,569 | |
Samsung Electronics Co. Ltd. | 17,790 | 996 | |
35,565 | |||
TOTAL INFORMATION TECHNOLOGY | 215,139 | ||
MATERIALS - 1.7% | |||
Chemicals - 0.6% | |||
Air Products & Chemicals, Inc. | 2,800 | 758 | |
DuPont de Nemours, Inc. | 58,200 | 4,164 | |
International Flavors & Fragrances, Inc. | 4,800 | 362 | |
LyondellBasell Industries NV Class A | 4,523 | 430 | |
PPG Industries, Inc. | 6,000 | 852 | |
Sherwin-Williams Co. | 1,600 | 446 | |
7,012 | |||
Metals & Mining - 1.1% | |||
First Quantum Minerals Ltd. | 392,200 | 3,211 | |
Freeport-McMoRan, Inc. | 237,800 | 8,875 | |
12,086 | |||
TOTAL MATERIALS | 19,098 | ||
REAL ESTATE - 1.7% | |||
Equity Real Estate Investment Trusts (REITs) - 1.7% | |||
American Tower Corp. | 31,500 | 6,577 | |
Crown Castle International Corp. | 56,700 | 6,650 | |
Equinix, Inc. | 110 | 90 | |
Public Storage | 200 | 52 | |
Simon Property Group, Inc. | 43,000 | 5,370 | |
18,739 | |||
UTILITIES - 2.3% | |||
Electric Utilities - 2.2% | |||
Constellation Energy Corp. | 5,600 | 678 | |
Duke Energy Corp. | 20,200 | 1,864 | |
Entergy Corp. | 16,900 | 1,714 | |
Eversource Energy | 37,000 | 2,198 | |
Exelon Corp. | 18,400 | 709 | |
FirstEnergy Corp. | 14,700 | 543 | |
PG&E Corp. | 106,900 | 1,835 | |
Southern Co. | 194,100 | 13,777 | |
23,318 | |||
Multi-Utilities - 0.1% | |||
Sempra | 16,400 | 1,195 | |
TOTAL UTILITIES | 24,513 | ||
TOTAL COMMON STOCKS (Cost $729,261) | 1,022,441 | ||
Convertible Bonds - 0.1% | |||
Principal Amount (e) (000s) | Value ($) (000s) | ||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
Snap, Inc. 0.125% 3/1/28 (Cost $1,076) | 1,477 | 1,075 | |
U.S. Treasury Obligations - 0.4% | |||
Principal Amount (e) (000s) | Value ($) (000s) | ||
U.S. Treasury Bills, yield at date of purchase 5.36% to 5.39% 12/7/23 to 12/21/23 (Cost $4,189) | 4,200 | 4,189 | |
Money Market Funds - 5.9% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (f) | 53,004,591 | 53,015 | |
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g) | 10,760,299 | 10,761 | |
TOTAL MONEY MARKET FUNDS (Cost $63,776) | 63,776 | ||
TOTAL INVESTMENT IN SECURITIES - 100.8% (Cost $798,302) | 1,091,481 |
NET OTHER ASSETS (LIABILITIES) - (0.8)% | (8,848) |
NET ASSETS - 100.0% | 1,082,633 |
Written Options | ||||||
Counterparty | Number of Contracts | Notional Amount ($) (000s) | Exercise Price ($) | Expiration Date | Value ($) (000s) | |
Call Options | ||||||
Apple, Inc. | Chicago Board Options Exchange | 87 | 1,653 | 200.00 | 01/19/24 | (11) |
Cardinal Health, Inc. | Chicago Board Options Exchange | 50 | 535 | 97.50 | 12/15/23 | (48) |
Eli Lilly & Co. | Chicago Board Options Exchange | 8 | 473 | 580.00 | 12/15/23 | (15) |
General Electric Co. | Chicago Board Options Exchange | 201 | 2,448 | 120.00 | 01/19/24 | (102) |
McKesson Corp. | Chicago Board Options Exchange | 34 | 1,600 | 480.00 | 12/15/23 | (10) |
Qualcomm, Inc. | Chicago Board Options Exchange | 298 | 3,846 | 135.00 | 01/19/24 | (67) |
Raytheon Co. | Chicago Board Options Exchange | 157 | 1,279 | 80.00 | 01/19/24 | (52) |
Walmart, Inc. | Chicago Board Options Exchange | 24 | 374 | 170.00 | 12/15/23 | 0 |
Walmart, Inc. | Chicago Board Options Exchange | 270 | 4,204 | 175.00 | 01/19/24 | (4) |
TOTAL WRITTEN OPTIONS | (309) |
(a) | 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 $5,119,000 or 0.5% of net assets. |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $16,412,000. |
(d) | Non-income producing |
(e) | Amount is stated in United States dollars unless otherwise noted. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 73,093 | 175,939 | 196,017 | 3,123 | - | - | 53,015 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 12,462 | 102,340 | 104,041 | 99 | - | - | 10,761 | 0.0% |
Total | 85,555 | 278,279 | 300,058 | 3,222 | - | - | 63,776 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 43,420 | 33,887 | 9,533 | - |
Consumer Discretionary | 27,928 | 27,710 | 218 | - |
Consumer Staples | 68,910 | 68,910 | - | - |
Energy | 110,414 | 110,414 | - | - |
Financials | 191,792 | 191,792 | - | - |
Health Care | 128,882 | 128,882 | - | - |
Industrials | 173,606 | 161,376 | 12,230 | - |
Information Technology | 215,139 | 215,139 | - | - |
Materials | 19,098 | 19,098 | - | - |
Real Estate | 18,739 | 18,739 | - | - |
Utilities | 24,513 | 24,513 | - | - |
Corporate Bonds | 1,075 | - | 1,075 | - |
U.S. Government and Government Agency Obligations | 4,189 | - | 4,189 | - |
Money Market Funds | 63,776 | 63,776 | - | - |
Total Investments in Securities: | 1,091,481 | 1,064,236 | 27,245 | - |
Derivative Instruments: Liabilities | ||||
Written Options | (309) | (309) | - | - |
Total Liabilities | (309) | (309) | - | - |
Total Derivative Instruments: | (309) | (309) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
(Amounts in thousands) | Asset ($) | Liability ($) |
Equity Risk | ||
Written Options (a) | 0 | (309) |
Total Equity Risk | 0 | (309) |
Total Value of Derivatives | 0 | (309) |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $10,560) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $734,526) | $ | 1,027,705 | ||
Fidelity Central Funds (cost $63,776) | 63,776 | |||
Total Investment in Securities (cost $798,302) | $ | 1,091,481 | ||
Receivable for investments sold | 1,000 | |||
Receivable for fund shares sold | 848 | |||
Dividends receivable | 2,789 | |||
Distributions receivable from Fidelity Central Funds | 229 | |||
Prepaid expenses | 1 | |||
Total assets | 1,096,348 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,427 | ||
Payable for fund shares redeemed | 422 | |||
Accrued management fee | 370 | |||
Distribution and service plan fees payable | 214 | |||
Written options, at value (premium received $269) | 309 | |||
Other affiliated payables | 160 | |||
Other payables and accrued expenses | 52 | |||
Collateral on securities loaned | 10,761 | |||
Total Liabilities | 13,715 | |||
Net Assets | $ | 1,082,633 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 773,912 | ||
Total accumulated earnings (loss) | 308,721 | |||
Net Assets | $ | 1,082,633 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($477,138 ÷ 13,652 shares)(a) | $ | 34.95 | ||
Maximum offering price per share (100/94.25 of $34.95) | $ | 37.08 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($187,925 ÷ 5,364 shares)(a) | $ | 35.03 | ||
Maximum offering price per share (100/96.50 of $35.03) | $ | 36.30 | ||
Class C : | ||||
Net Asset Value and offering price per share ($50,106 ÷ 1,563 shares)(a)(b) | $ | 32.07 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($222,973 ÷ 6,204 shares) | $ | 35.94 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($144,491 ÷ 4,012 shares)(b) | $ | 36.02 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 19,086 | ||
Interest | 93 | |||
Income from Fidelity Central Funds (including $99 from security lending) | 3,222 | |||
Total Income | 22,401 | |||
Expenses | ||||
Management fee | $ | 4,005 | ||
Transfer agent fees | 1,529 | |||
Distribution and service plan fees | 2,485 | |||
Accounting fees | 284 | |||
Custodian fees and expenses | 37 | |||
Independent trustees' fees and expenses | 5 | |||
Registration fees | 110 | |||
Audit | 81 | |||
Legal | 8 | |||
Miscellaneous | 5 | |||
Total expenses before reductions | 8,549 | |||
Expense reductions | (61) | |||
Total expenses after reductions | 8,488 | |||
Net Investment income (loss) | 13,913 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 14,598 | |||
Foreign currency transactions | 5 | |||
Written options | 819 | |||
Total net realized gain (loss) | 15,422 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 48,774 | |||
Assets and liabilities in foreign currencies | 5 | |||
Written options | 47 | |||
Total change in net unrealized appreciation (depreciation) | 48,826 | |||
Net gain (loss) | 64,248 | |||
Net increase (decrease) in net assets resulting from operations | $ | 78,161 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 13,913 | $ | 9,162 |
Net realized gain (loss) | 15,422 | 2,169 | ||
Change in net unrealized appreciation (depreciation) | 48,826 | 21,109 | ||
Net increase (decrease) in net assets resulting from operations | 78,161 | 32,440 | ||
Distributions to shareholders | (15,697) | (33,061) | ||
Share transactions - net increase (decrease) | 199,181 | 173,331 | ||
Total increase (decrease) in net assets | 261,645 | 172,710 | ||
Net Assets | ||||
Beginning of period | 820,988 | 648,278 | ||
End of period | $ | 1,082,633 | $ | 820,988 |
Fidelity Advisor® Growth & Income Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 32.90 | $ | 33.01 | $ | 27.71 | $ | 28.32 | $ | 28.69 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .49 | .42 | .59 C | .44 | .49 | |||||
Net realized and unrealized gain (loss) | 2.13 | 1.09 | 6.08 | .90 | 2.48 | |||||
Total from investment operations | 2.62 | 1.51 | 6.67 | 1.34 | 2.97 | |||||
Distributions from net investment income | (.47) | (.83) | (.48) | (.48) | (.47) | |||||
Distributions from net realized gain | (.10) | (.80) | (.89) | (1.47) | (2.87) | |||||
Total distributions | (.57) | (1.62) D | (1.37) | (1.95) | (3.34) | |||||
Net asset value, end of period | $ | 34.95 | $ | 32.90 | $ | 33.01 | $ | 27.71 | $ | 28.32 |
Total Return E,F | 8.11% | 4.64% | 25.08% | 4.86% | 13.65% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .91% | .91% | .92% | .95% | .96% | |||||
Expenses net of fee waivers, if any | .90% | .91% | .92% | .95% | .96% | |||||
Expenses net of all reductions | .90% | .91% | .92% | .95% | .95% | |||||
Net investment income (loss) | 1.47% | 1.31% | 1.85% C | 1.78% | 1.93% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 477 | $ | 406 | $ | 344 | $ | 277 | $ | 288 |
Portfolio turnover rate I | 12% | 8% | 15% | 28% | 29% |
Fidelity Advisor® Growth & Income Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 32.97 | $ | 33.01 | $ | 27.71 | $ | 28.31 | $ | 28.67 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .41 | .34 | .51 C | .38 | .43 | |||||
Net realized and unrealized gain (loss) | 2.14 | 1.10 | 6.10 | .89 | 2.47 | |||||
Total from investment operations | 2.55 | 1.44 | 6.61 | 1.27 | 2.90 | |||||
Distributions from net investment income | (.38) | (.68) | (.42) | (.40) | (.39) | |||||
Distributions from net realized gain | (.10) | (.80) | (.89) | (1.47) | (2.87) | |||||
Total distributions | (.49) D | (1.48) | (1.31) | (1.87) | (3.26) | |||||
Net asset value, end of period | $ | 35.03 | $ | 32.97 | $ | 33.01 | $ | 27.71 | $ | 28.31 |
Total Return E,F | 7.85% | 4.38% | 24.77% | 4.61% | 13.33% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.15% | 1.15% | 1.16% | 1.20% | 1.21% | |||||
Expenses net of fee waivers, if any | 1.14% | 1.15% | 1.16% | 1.20% | 1.21% | |||||
Expenses net of all reductions | 1.14% | 1.15% | 1.16% | 1.20% | 1.20% | |||||
Net investment income (loss) | 1.23% | 1.07% | 1.61% C | 1.53% | 1.68% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 188 | $ | 180 | $ | 173 | $ | 153 | $ | 172 |
Portfolio turnover rate I | 12% | 8% | 15% | 28% | 29% |
Fidelity Advisor® Growth & Income Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 30.24 | $ | 30.33 | $ | 25.56 | $ | 26.22 | $ | 26.79 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .22 | .16 | .32 C | .23 | .27 | |||||
Net realized and unrealized gain (loss) | 1.96 | 1.00 | 5.62 | .82 | 2.28 | |||||
Total from investment operations | 2.18 | 1.16 | 5.94 | 1.05 | 2.55 | |||||
Distributions from net investment income | (.25) | (.45) | (.28) | (.24) | (.26) | |||||
Distributions from net realized gain | (.10) | (.80) | (.89) | (1.47) | (2.87) | |||||
Total distributions | (.35) | (1.25) | (1.17) | (1.71) | (3.12) D | |||||
Net asset value, end of period | $ | 32.07 | $ | 30.24 | $ | 30.33 | $ | 25.56 | $ | 26.22 |
Total Return E,F | 7.32% | 3.80% | 24.14% | 4.07% | 12.74% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.67% | 1.67% | 1.69% | 1.73% | 1.73% | |||||
Expenses net of fee waivers, if any | 1.66% | 1.67% | 1.69% | 1.73% | 1.73% | |||||
Expenses net of all reductions | 1.66% | 1.67% | 1.69% | 1.73% | 1.73% | |||||
Net investment income (loss) | .71% | .55% | 1.09% C | 1.00% | 1.15% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 50 | $ | 47 | $ | 41 | $ | 34 | $ | 41 |
Portfolio turnover rate I | 12% | 8% | 15% | 28% | 29% |
Fidelity Advisor® Growth & Income Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.81 | $ | 33.95 | $ | 28.45 | $ | 29.01 | $ | 29.33 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .59 | .51 | .69 C | .52 | .57 | |||||
Net realized and unrealized gain (loss) | 2.19 | 1.12 | 6.24 | .93 | 2.52 | |||||
Total from investment operations | 2.78 | 1.63 | 6.93 | 1.45 | 3.09 | |||||
Distributions from net investment income | (.55) | (.97) | (.55) | (.54) | (.54) | |||||
Distributions from net realized gain | (.10) | (.80) | (.89) | (1.47) | (2.87) | |||||
Total distributions | (.65) | (1.77) | (1.43) D | (2.01) | (3.41) | |||||
Net asset value, end of period | $ | 35.94 | $ | 33.81 | $ | 33.95 | $ | 28.45 | $ | 29.01 |
Total Return E | 8.39% | 4.86% | 25.40% | 5.16% | 13.89% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .66% | .66% | .67% | .70% | .70% | |||||
Expenses net of fee waivers, if any | .66% | .66% | .67% | .70% | .69% | |||||
Expenses net of all reductions | .66% | .66% | .67% | .69% | .69% | |||||
Net investment income (loss) | 1.71% | 1.56% | 2.10% C | 2.03% | 2.19% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 223 | $ | 128 | $ | 76 | $ | 45 | $ | 48 |
Portfolio turnover rate H | 12% | 8% | 15% | 28% | 29% |
Fidelity Advisor® Growth & Income Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.88 | $ | 34.04 | $ | 28.52 | $ | 29.09 | $ | 29.35 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .64 | .55 | .73 C | .55 | .62 | |||||
Net realized and unrealized gain (loss) | 2.19 | 1.13 | 6.26 | .93 | 2.53 | |||||
Total from investment operations | 2.83 | 1.68 | 6.99 | 1.48 | 3.15 | |||||
Distributions from net investment income | (.59) | (1.05) | (.59) | (.58) | (.54) | |||||
Distributions from net realized gain | (.10) | (.80) | (.89) | (1.47) | (2.87) | |||||
Total distributions | (.69) | (1.84) D | (1.47) D | (2.05) | (3.41) | |||||
Net asset value, end of period | $ | 36.02 | $ | 33.88 | $ | 34.04 | $ | 28.52 | $ | 29.09 |
Total Return E | 8.54% | 5.03% | 25.59% | 5.26% | 14.11% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .52% | .53% | .53% | .55% | .56% | |||||
Expenses net of fee waivers, if any | .52% | .52% | .53% | .55% | .56% | |||||
Expenses net of all reductions | .52% | .52% | .53% | .55% | .55% | |||||
Net investment income (loss) | 1.86% | 1.69% | 2.24% C | 2.18% | 2.33% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 144 | $ | 60 | $ | 14 | $ | 11 | $ | 7 |
Portfolio turnover rate H | 12% | 8% | 15% | 28% | 29% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $324,168 |
Gross unrealized depreciation | (33,051) |
Net unrealized appreciation (depreciation) | $291,117 |
Tax Cost | $800,055 |
Undistributed ordinary income | $3,196 |
Undistributed long-term capital gain | $14,448 |
Net unrealized appreciation (depreciation) on securities and other investments | $291,076 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $13,886 | $18,783 |
Long-term Capital Gains | 1,811 | 14,278 |
Total | $15,697 | $33,061 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Advisor Growth & Income Fund | 320,180 | 103,615 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $1,092 | $32 |
Class M | .25% | .25% | 904 | 9 |
Class C | .75% | .25% | 489 | 89 |
$2,485 | $130 |
Retained by FDC | |
Class A | $188 |
Class M | 14 |
Class CA | 1 |
$203 |
Amount | % of Class-Level Average Net Assets | |
Class A | $765 | .18 |
Class M | 304 | .17 |
Class C | 93 | .19 |
Class I | 324 | .18 |
Class Z | 43 | .04 |
$1,529 |
% of Class-Level Average Net Assets | |
Class A | .1733% |
Class M | .1657% |
Class C | .1860% |
Class I | .1866% |
% of Average Net Assets | |
Fidelity Advisor Growth & Income Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Growth & Income Fund | .0295% |
Amount | |
Fidelity Advisor Growth & Income Fund | $3 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Growth & Income Fund | 19,377 | 2,575 | 443 |
Amount | |
Fidelity Advisor Growth & Income Fund | $2 |
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 Growth & Income Fund | $10 | $-A | $10 |
Expense reduction | |
Class A | -A |
Class M | 3 |
$4 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Growth & Income Fund | ||
Distributions to shareholders | ||
Class A | $7,367 | $17,363 |
Class M | 2,629 | 7,787 |
Class C | 559 | 1,696 |
Class I | 3,171 | 4,201 |
Class Z | 1,971 | 2,014 |
Total | $15,697 | $33,061 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Growth & Income Fund | ||||
Class A | ||||
Shares sold | 2,709 | 2,812 | $89,706 | $90,084 |
Reinvestment of distributions | 217 | 504 | 7,040 | 16,493 |
Shares redeemed | (1,605) | (1,415) | (53,452) | (44,767) |
Net increase (decrease) | 1,321 | 1,901 | $43,294 | $61,810 |
Class M | ||||
Shares sold | 489 | 643 | $16,232 | $20,917 |
Reinvestment of distributions | 79 | 231 | 2,574 | 7,629 |
Shares redeemed | (666) | (650) | (22,069) | (20,594) |
Net increase (decrease) | (98) | 224 | $(3,263) | $7,952 |
Class C | ||||
Shares sold | 526 | 649 | $15,943 | $19,167 |
Reinvestment of distributions | 18 | 55 | 534 | 1,666 |
Shares redeemed | (541) | (486) | (16,496) | (14,200) |
Net increase (decrease) | 3 | 218 | $(19) | $6,633 |
Class I | ||||
Shares sold | 4,443 | 2,275 | $151,618 | $74,876 |
Reinvestment of distributions | 88 | 112 | 2,946 | 3,758 |
Shares redeemed | (2,105) | (850) | (72,062) | (27,709) |
Net increase (decrease) | 2,426 | 1,537 | $82,502 | $50,925 |
Class Z | ||||
Shares sold | 2,810 | 1,643 | $96,484 | $55,104 |
Reinvestment of distributions | 52 | 56 | 1,753 | 1,860 |
Shares redeemed | (633) | (334) | (21,570) | (10,953) |
Net increase (decrease) | 2,229 | 1,365 | $76,667 | $46,011 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Growth & Income Fund | ||||||||||
Class A | .89% | |||||||||
Actual | $ 1,000 | $ 1,086.30 | $ 4.65 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.61 | $ 4.51 | |||||||
Class M | 1.13% | |||||||||
Actual | $ 1,000 | $ 1,085.00 | $ 5.91 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.40 | $ 5.72 | |||||||
Class C | 1.65% | |||||||||
Actual | $ 1,000 | $ 1,082.50 | $ 8.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.80 | $ 8.34 | |||||||
Class I | .65% | |||||||||
Actual | $ 1,000 | $ 1,087.70 | $ 3.40 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.81 | $ 3.29 | |||||||
Class Z | .51% | |||||||||
Actual | $ 1,000 | $ 1,088.60 | $ 2.67 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.51 | $ 2.59 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | 5.20% | 10.20% | 9.51% |
Class M (incl. 3.50% sales charge) | 7.46% | 10.45% | 9.49% |
Class C (incl. contingent deferred sales charge) | 9.77% | 10.66% | 9.49% |
Class I | 11.90% | 11.82% | 10.45% |
Class Z | 12.06% | 11.95% | 10.54% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Large Cap Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.8 | |
General Electric Co. | 6.6 | |
Exxon Mobil Corp. | 6.3 | |
Wells Fargo & Co. | 5.4 | |
Apple, Inc. | 3.1 | |
The Boeing Co. | 2.6 | |
Bank of America Corp. | 2.6 | |
UnitedHealth Group, Inc. | 2.1 | |
Meta Platforms, Inc. Class A | 2.0 | |
Visa, Inc. Class A | 1.9 | |
40.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 18.4 | |
Financials | 16.8 | |
Industrials | 15.6 | |
Health Care | 12.6 | |
Energy | 10.3 | |
Communication Services | 9.8 | |
Consumer Staples | 5.3 | |
Consumer Discretionary | 3.5 | |
Materials | 2.0 | |
Real Estate | 1.1 | |
Utilities | 1.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 96.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.8% | |||
Diversified Telecommunication Services - 0.3% | |||
Cellnex Telecom SA (a) | 45,400 | 1,733,306 | |
Verizon Communications, Inc. | 54,276 | 2,080,399 | |
3,813,705 | |||
Entertainment - 1.0% | |||
The Walt Disney Co. | 58,875 | 5,457,124 | |
Universal Music Group NV | 214,634 | 5,670,848 | |
11,127,972 | |||
Interactive Media & Services - 6.2% | |||
Alphabet, Inc.: | |||
Class A (b) | 163,780 | 21,705,763 | |
Class C (b) | 151,560 | 20,296,915 | |
Match Group, Inc. (b) | 90,400 | 2,927,152 | |
Meta Platforms, Inc. Class A (b) | 73,300 | 23,980,095 | |
Snap, Inc. Class A (b) | 315,900 | 4,368,897 | |
73,278,822 | |||
Media - 2.3% | |||
Charter Communications, Inc. Class A (b) | 2,100 | 840,273 | |
Comcast Corp. Class A | 535,423 | 22,428,869 | |
Interpublic Group of Companies, Inc. | 137,920 | 4,239,661 | |
27,508,803 | |||
TOTAL COMMUNICATION SERVICES | 115,729,302 | ||
CONSUMER DISCRETIONARY - 3.5% | |||
Automobile Components - 0.1% | |||
BorgWarner, Inc. | 48,216 | 1,624,397 | |
Automobiles - 0.1% | |||
General Motors Co. | 22,800 | 720,480 | |
Broadline Retail - 0.1% | |||
Amazon.com, Inc. (b) | 11,700 | 1,709,253 | |
Hotels, Restaurants & Leisure - 1.9% | |||
Amadeus IT Holding SA Class A | 28,700 | 1,962,494 | |
Booking Holdings, Inc. (b) | 4,019 | 12,562,188 | |
Expedia, Inc. (b) | 19,000 | 2,587,420 | |
Marriott International, Inc. Class A | 18,200 | 3,689,140 | |
Starbucks Corp. | 14,500 | 1,439,850 | |
22,241,092 | |||
Household Durables - 0.3% | |||
Mohawk Industries, Inc. (b) | 23,906 | 2,111,139 | |
Sony Group Corp. sponsored ADR | 13,200 | 1,134,540 | |
Whirlpool Corp. | 4,834 | 526,423 | |
3,772,102 | |||
Specialty Retail - 0.9% | |||
Lowe's Companies, Inc. | 47,630 | 9,470,273 | |
RH (b) | 3,200 | 863,904 | |
10,334,177 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Compagnie Financiere Richemont SA Series A | 1,890 | 236,382 | |
NIKE, Inc. Class B | 8,800 | 970,376 | |
1,206,758 | |||
TOTAL CONSUMER DISCRETIONARY | 41,608,259 | ||
CONSUMER STAPLES - 5.3% | |||
Beverages - 1.6% | |||
Diageo PLC sponsored ADR | 30,000 | 4,217,100 | |
Keurig Dr. Pepper, Inc. | 152,300 | 4,808,111 | |
The Coca-Cola Co. | 161,981 | 9,466,170 | |
18,491,381 | |||
Consumer Staples Distribution & Retail - 1.5% | |||
Performance Food Group Co. (b) | 38,900 | 2,530,445 | |
Sysco Corp. | 84,900 | 6,127,233 | |
Target Corp. | 27,100 | 3,626,251 | |
U.S. Foods Holding Corp. (b) | 47,800 | 2,095,074 | |
Walmart, Inc. | 19,300 | 3,004,817 | |
17,383,820 | |||
Household Products - 0.0% | |||
Procter & Gamble Co. | 1,500 | 230,280 | |
Personal Care Products - 1.5% | |||
Estee Lauder Companies, Inc. Class A | 22,300 | 2,847,487 | |
Haleon PLC ADR | 850,638 | 7,281,461 | |
Kenvue, Inc. | 394,507 | 8,063,723 | |
18,192,671 | |||
Tobacco - 0.7% | |||
Altria Group, Inc. | 182,180 | 7,658,847 | |
Philip Morris International, Inc. | 9,600 | 896,256 | |
8,555,103 | |||
TOTAL CONSUMER STAPLES | 62,853,255 | ||
ENERGY - 10.3% | |||
Oil, Gas & Consumable Fuels - 10.3% | |||
Exxon Mobil Corp. | 725,868 | 74,575,678 | |
Hess Corp. | 155,735 | 21,890,112 | |
Imperial Oil Ltd. | 142,900 | 8,050,927 | |
Kosmos Energy Ltd. (b) | 899,395 | 6,106,892 | |
MEG Energy Corp. (b) | 216,000 | 4,084,572 | |
Shell PLC ADR | 97,200 | 6,395,760 | |
121,103,941 | |||
FINANCIALS - 16.8% | |||
Banks - 11.4% | |||
Bank of America Corp. | 987,414 | 30,106,253 | |
JPMorgan Chase & Co. | 81,018 | 12,645,289 | |
M&T Bank Corp. | 19,928 | 2,554,172 | |
PNC Financial Services Group, Inc. | 87,641 | 11,740,388 | |
Truist Financial Corp. | 125,327 | 4,028,010 | |
U.S. Bancorp | 232,990 | 8,881,579 | |
Wells Fargo & Co. | 1,424,103 | 63,500,753 | |
133,456,444 | |||
Capital Markets - 2.1% | |||
Charles Schwab Corp. | 12,200 | 748,104 | |
CME Group, Inc. | 1,500 | 327,540 | |
KKR & Co. LP | 106,391 | 8,068,693 | |
Moody's Corp. | 1,700 | 620,432 | |
Morgan Stanley | 39,425 | 3,127,980 | |
Northern Trust Corp. | 111,791 | 8,859,437 | |
Raymond James Financial, Inc. | 23,293 | 2,449,259 | |
State Street Corp. | 8,419 | 613,072 | |
24,814,517 | |||
Financial Services - 3.1% | |||
Acacia Research Corp. (b) | 36,900 | 134,316 | |
Edenred SA | 68,100 | 3,706,343 | |
Fidelity National Information Services, Inc. | 45,000 | 2,638,800 | |
Global Payments, Inc. | 9,000 | 1,047,960 | |
MasterCard, Inc. Class A | 11,215 | 4,641,103 | |
PayPal Holdings, Inc. (b) | 27,900 | 1,607,319 | |
Radian Group, Inc. | 17,342 | 445,863 | |
Visa, Inc. Class A | 87,827 | 22,543,434 | |
36,765,138 | |||
Insurance - 0.2% | |||
Chubb Ltd. | 10,495 | 2,407,868 | |
TOTAL FINANCIALS | 197,443,967 | ||
HEALTH CARE - 12.6% | |||
Biotechnology - 0.5% | |||
Alnylam Pharmaceuticals, Inc. (b) | 12,119 | 2,039,022 | |
Argenx SE ADR (b) | 1,900 | 856,159 | |
Insmed, Inc. (b) | 47,497 | 1,188,375 | |
Vaxcyte, Inc. (b) | 31,000 | 1,604,870 | |
Verve Therapeutics, Inc. (b)(c) | 19,900 | 224,472 | |
5,912,898 | |||
Health Care Equipment & Supplies - 2.4% | |||
Abbott Laboratories | 7,500 | 782,175 | |
Becton, Dickinson & Co. | 10,797 | 2,550,035 | |
Boston Scientific Corp. (b) | 284,726 | 15,913,336 | |
GE Healthcare Holding LLC | 111,971 | 7,665,535 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) | 50,462 | 1,030,434 | |
27,941,515 | |||
Health Care Providers & Services - 5.7% | |||
Cardinal Health, Inc. | 72,582 | 7,772,081 | |
Centene Corp. (b) | 8,400 | 618,912 | |
Cigna Group | 50,203 | 13,197,365 | |
CVS Health Corp. | 87,568 | 5,950,246 | |
Guardant Health, Inc. (b) | 22,800 | 573,876 | |
Humana, Inc. | 3,900 | 1,890,954 | |
McKesson Corp. | 25,806 | 12,143,271 | |
UnitedHealth Group, Inc. | 43,799 | 24,219,533 | |
66,366,238 | |||
Life Sciences Tools & Services - 0.4% | |||
Danaher Corp. | 20,400 | 4,555,524 | |
Thermo Fisher Scientific, Inc. | 1,100 | 545,336 | |
5,100,860 | |||
Pharmaceuticals - 3.6% | |||
Bristol-Myers Squibb Co. | 287,917 | 14,217,341 | |
Eli Lilly & Co. | 15,800 | 9,338,432 | |
GSK PLC sponsored ADR | 212,030 | 7,630,960 | |
Johnson & Johnson | 54,187 | 8,380,561 | |
Sanofi SA sponsored ADR | 12,700 | 593,725 | |
UCB SA | 29,800 | 2,200,546 | |
42,361,565 | |||
TOTAL HEALTH CARE | 147,683,076 | ||
INDUSTRIALS - 15.4% | |||
Aerospace & Defense - 3.9% | |||
Airbus Group NV | 49,300 | 7,326,612 | |
General Dynamics Corp. | 13,129 | 3,242,469 | |
Howmet Aerospace, Inc. | 2,300 | 120,980 | |
Huntington Ingalls Industries, Inc. | 10,319 | 2,445,809 | |
Safran SA | 8,000 | 1,406,617 | |
Textron, Inc. | 10,600 | 812,596 | |
The Boeing Co. (b) | 132,167 | 30,613,842 | |
45,968,925 | |||
Air Freight & Logistics - 1.5% | |||
FedEx Corp. | 21,892 | 5,666,306 | |
United Parcel Service, Inc. Class B | 82,563 | 12,517,376 | |
18,183,682 | |||
Building Products - 0.1% | |||
Johnson Controls International PLC | 15,400 | 813,120 | |
Commercial Services & Supplies - 0.2% | |||
ACV Auctions, Inc. Class A (b) | 86,600 | 1,353,558 | |
Veralto Corp. | 7,633 | 589,649 | |
1,943,207 | |||
Electrical Equipment - 1.5% | |||
Acuity Brands, Inc. | 18,456 | 3,308,423 | |
Hubbell, Inc. Class B | 11,785 | 3,535,500 | |
Regal Rexnord Corp. | 21,600 | 2,587,680 | |
Vertiv Holdings Co. | 180,100 | 7,863,166 | |
17,294,769 | |||
Ground Transportation - 0.4% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 85,158 | 4,579,797 | |
Industrial Conglomerates - 6.7% | |||
3M Co. | 9,559 | 947,010 | |
General Electric Co. | 636,613 | 77,539,463 | |
78,486,473 | |||
Machinery - 0.8% | |||
Chart Industries, Inc. (b)(c) | 12,000 | 1,560,360 | |
Cummins, Inc. | 7,000 | 1,569,120 | |
Fortive Corp. | 30,400 | 2,096,992 | |
Nordson Corp. | 2,000 | 470,680 | |
Otis Worldwide Corp. | 19,696 | 1,689,720 | |
Stanley Black & Decker, Inc. (c) | 10,800 | 981,720 | |
Westinghouse Air Brake Tech Co. | 11,445 | 1,334,029 | |
9,702,621 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 3,200 | 296,448 | |
Ryanair Holdings PLC sponsored ADR (b) | 9,400 | 1,111,268 | |
1,407,716 | |||
Professional Services - 0.2% | |||
Equifax, Inc. | 4,200 | 914,382 | |
Genpact Ltd. | 42,200 | 1,433,112 | |
Paycom Software, Inc. | 3,200 | 581,312 | |
2,928,806 | |||
Trading Companies & Distributors - 0.0% | |||
Beijer Ref AB (B Shares) | 46,900 | 518,387 | |
TOTAL INDUSTRIALS | 181,827,503 | ||
INFORMATION TECHNOLOGY - 18.4% | |||
IT Services - 0.4% | |||
EPAM Systems, Inc. (b) | 3,000 | 774,570 | |
IBM Corp. | 11,500 | 1,823,440 | |
Snowflake, Inc. (b) | 800 | 150,144 | |
Twilio, Inc. Class A (b) | 24,000 | 1,552,320 | |
4,300,474 | |||
Semiconductors & Semiconductor Equipment - 3.8% | |||
Analog Devices, Inc. | 12,318 | 2,258,875 | |
Applied Materials, Inc. | 24,216 | 3,627,072 | |
Broadcom, Inc. | 4,100 | 3,795,493 | |
Lam Research Corp. | 4,500 | 3,221,640 | |
Marvell Technology, Inc. | 136,401 | 7,601,628 | |
NVIDIA Corp. | 34,220 | 16,004,694 | |
Qualcomm, Inc. | 33,501 | 4,323,304 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 37,700 | 3,668,587 | |
44,501,293 | |||
Software - 11.0% | |||
Adobe, Inc. (b) | 19,900 | 12,159,099 | |
Autodesk, Inc. (b) | 13,341 | 2,914,075 | |
DoubleVerify Holdings, Inc. (b) | 16,500 | 547,800 | |
Elastic NV (b) | 32,800 | 2,635,808 | |
Intuit, Inc. | 6,700 | 3,828,782 | |
Microsoft Corp. | 242,153 | 91,754,194 | |
PTC, Inc. (b) | 9,300 | 1,463,448 | |
Sage Group PLC | 63,500 | 906,272 | |
Salesforce, Inc. (b) | 4,500 | 1,133,550 | |
SAP SE sponsored ADR (c) | 70,817 | 11,268,401 | |
Workday, Inc. Class A (b) | 3,300 | 893,376 | |
129,504,805 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 195,568 | 37,148,142 | |
Samsung Electronics Co. Ltd. | 22,520 | 1,261,266 | |
38,409,408 | |||
TOTAL INFORMATION TECHNOLOGY | 216,715,980 | ||
MATERIALS - 2.0% | |||
Chemicals - 0.5% | |||
DuPont de Nemours, Inc. | 65,500 | 4,685,870 | |
LyondellBasell Industries NV Class A | 3,787 | 360,144 | |
Sherwin-Williams Co. | 2,100 | 585,480 | |
5,631,494 | |||
Metals & Mining - 1.5% | |||
First Quantum Minerals Ltd. | 545,500 | 4,466,270 | |
Freeport-McMoRan, Inc. | 315,804 | 11,785,805 | |
Ivanhoe Mines Ltd. (b) | 231,700 | 2,067,790 | |
18,319,865 | |||
TOTAL MATERIALS | 23,951,359 | ||
REAL ESTATE - 1.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.1% | |||
American Tower Corp. | 15,009 | 3,133,579 | |
Crown Castle International Corp. | 40,100 | 4,702,928 | |
Equinix, Inc. | 442 | 360,234 | |
Simon Property Group, Inc. | 39,100 | 4,883,199 | |
13,079,940 | |||
UTILITIES - 1.1% | |||
Electric Utilities - 1.1% | |||
Duke Energy Corp. | 2,600 | 239,928 | |
Entergy Corp. | 8,900 | 902,549 | |
PG&E Corp. | 68,500 | 1,176,145 | |
Southern Co. | 139,600 | 9,908,808 | |
12,227,430 | |||
Multi-Utilities - 0.0% | |||
Sempra | 4,068 | 296,435 | |
TOTAL UTILITIES | 12,523,865 | ||
TOTAL COMMON STOCKS (Cost $718,071,421) | 1,134,520,447 | ||
Preferred Stocks - 0.2% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.0% | |||
COMMUNICATION SERVICES - 0.0% | |||
Interactive Media & Services - 0.0% | |||
Reddit, Inc. Series E (b)(d)(e) | 1,200 | 37,692 | |
Nonconvertible Preferred Stocks - 0.2% | |||
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Embraer SA sponsored ADR (b) | 119,400 | 2,088,306 | |
TOTAL PREFERRED STOCKS (Cost $1,471,102) | 2,125,998 | ||
Money Market Funds - 3.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (f) | 39,329,969 | 39,337,835 | |
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g) | 6,522,179 | 6,522,831 | |
TOTAL MONEY MARKET FUNDS (Cost $45,860,666) | 45,860,666 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $765,403,189) | 1,182,507,111 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (4,511,515) |
NET ASSETS - 100.0% | 1,177,995,596 |
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,733,306 or 0.1% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(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 $37,692 or 0.0% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Reddit, Inc. Series E | 5/18/21 | 50,969 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 40,544,606 | 85,956,240 | 87,163,011 | 2,138,109 | - | - | 39,337,835 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 3,679,031 | 110,671,812 | 107,828,012 | 76,585 | - | - | 6,522,831 | 0.0% |
Total | 44,223,637 | 196,628,052 | 194,991,023 | 2,214,694 | - | - | 45,860,666 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 115,766,994 | 108,325,148 | 7,404,154 | 37,692 |
Consumer Discretionary | 41,608,259 | 41,371,877 | 236,382 | - |
Consumer Staples | 62,853,255 | 62,853,255 | - | - |
Energy | 121,103,941 | 121,103,941 | - | - |
Financials | 197,443,967 | 197,443,967 | - | - |
Health Care | 147,683,076 | 147,683,076 | - | - |
Industrials | 183,915,809 | 175,182,580 | 8,733,229 | - |
Information Technology | 216,715,980 | 216,715,980 | - | - |
Materials | 23,951,359 | 23,951,359 | - | - |
Real Estate | 13,079,940 | 13,079,940 | - | - |
Utilities | 12,523,865 | 12,523,865 | - | - |
Money Market Funds | 45,860,666 | 45,860,666 | - | - |
Total Investments in Securities: | 1,182,507,111 | 1,166,095,654 | 16,373,765 | 37,692 |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $6,432,181) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $719,542,523) | $ | 1,136,646,445 | ||
Fidelity Central Funds (cost $45,860,666) | 45,860,666 | |||
Total Investment in Securities (cost $765,403,189) | $ | 1,182,507,111 | ||
Receivable for investments sold | 1,010,430 | |||
Receivable for fund shares sold | 1,192,421 | |||
Dividends receivable | 2,784,489 | |||
Distributions receivable from Fidelity Central Funds | 168,570 | |||
Prepaid expenses | 1,333 | |||
Total assets | 1,187,664,354 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,268,059 | ||
Payable for fund shares redeemed | 712,457 | |||
Accrued management fee | 673,074 | |||
Distribution and service plan fees payable | 256,262 | |||
Other affiliated payables | 181,222 | |||
Other payables and accrued expenses | 52,709 | |||
Collateral on securities loaned | 6,524,975 | |||
Total Liabilities | 9,668,758 | |||
Net Assets | $ | 1,177,995,596 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 723,069,555 | ||
Total accumulated earnings (loss) | 454,926,041 | |||
Net Assets | $ | 1,177,995,596 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($608,811,023 ÷ 15,361,486 shares)(a) | $ | 39.63 | ||
Maximum offering price per share (100/94.25 of $39.63) | $ | 42.05 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($169,909,961 ÷ 4,302,422 shares)(a) | $ | 39.49 | ||
Maximum offering price per share (100/96.50 of $39.49) | $ | 40.92 | ||
Class C : | ||||
Net Asset Value and offering price per share ($78,499,378 ÷ 2,301,039 shares)(a) | $ | 34.11 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($263,768,542 ÷ 6,208,533 shares) | $ | 42.48 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($57,006,692 ÷ 1,342,719 shares) | $ | 42.46 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 19,379,899 | ||
Income from Fidelity Central Funds (including $76,585 from security lending) | 2,214,694 | |||
Total Income | 21,594,593 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 5,728,530 | ||
Performance adjustment | 1,786,889 | |||
Transfer agent fees | 1,818,942 | |||
Distribution and service plan fees | 3,017,772 | |||
Accounting fees | 319,189 | |||
Custodian fees and expenses | 37,054 | |||
Independent trustees' fees and expenses | 6,232 | |||
Registration fees | 96,365 | |||
Audit | 64,316 | |||
Legal | 6,029 | |||
Miscellaneous | 4,899 | |||
Total expenses before reductions | 12,886,217 | |||
Expense reductions | (69,614) | |||
Total expenses after reductions | 12,816,603 | |||
Net Investment income (loss) | 8,777,990 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 34,455,417 | |||
Foreign currency transactions | 7,050 | |||
Total net realized gain (loss) | 34,462,467 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 78,334,277 | |||
Assets and liabilities in foreign currencies | 10,332 | |||
Total change in net unrealized appreciation (depreciation) | 78,344,609 | |||
Net gain (loss) | 112,807,076 | |||
Net increase (decrease) in net assets resulting from operations | $ | 121,585,066 |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 8,777,990 | $ | 10,686,103 |
Net realized gain (loss) | 34,462,467 | 12,808,864 | ||
Change in net unrealized appreciation (depreciation) | 78,344,609 | (9,405,688) | ||
Net increase (decrease) in net assets resulting from operations | 121,585,066 | 14,089,279 | ||
Distributions to shareholders | (21,109,328) | (67,019,635) | ||
Share transactions - net increase (decrease) | 27,953,133 | 70,348,927 | ||
Total increase (decrease) in net assets | 128,428,871 | 17,418,571 | ||
Net Assets | ||||
Beginning of period | 1,049,566,725 | 1,032,148,154 | ||
End of period | $ | 1,177,995,596 | $ | 1,049,566,725 |
Fidelity Advisor® Large Cap Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 36.29 | $ | 38.14 | $ | 31.98 | $ | 32.80 | $ | 33.76 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .30 | .38 | .62 C | .50 | .51 | |||||
Net realized and unrealized gain (loss) | 3.79 | .28 | 7.29 | 1.36 | 2.97 | |||||
Total from investment operations | 4.09 | .66 | 7.91 | 1.86 | 3.48 | |||||
Distributions from net investment income | (.38) | (.61) | (.57) | (.60) | (.45) | |||||
Distributions from net realized gain | (.37) | (1.90) | (1.18) | (2.08) | (3.99) | |||||
Total distributions | (.75) | (2.51) | (1.75) | (2.68) | (4.44) | |||||
Net asset value, end of period | $ | 39.63 | $ | 36.29 | $ | 38.14 | $ | 31.98 | $ | 32.80 |
Total Return D,E | 11.62% | 1.49% | 25.87% | 5.91% | 14.19% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.16% | .92% | .80% | .75% | .91% | |||||
Expenses net of fee waivers, if any | 1.15% | .91% | .80% | .75% | .91% | |||||
Expenses net of all reductions | 1.15% | .91% | .80% | .75% | .90% | |||||
Net investment income (loss) | .82% | 1.07% | 1.67% C | 1.76% | 1.71% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 608,811 | $ | 532,911 | $ | 468,894 | $ | 389,143 | $ | 423,325 |
Portfolio turnover rate H | 13% | 11% | 17% | 22% | 28% I |
Fidelity Advisor® Large Cap Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 36.14 | $ | 37.99 | $ | 31.86 | $ | 32.69 | $ | 33.63 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .21 | .29 | .52 C | .42 | .43 | |||||
Net realized and unrealized gain (loss) | 3.78 | .27 | 7.28 | 1.35 | 2.98 | |||||
Total from investment operations | 3.99 | .56 | 7.80 | 1.77 | 3.41 | |||||
Distributions from net investment income | (.27) | (.52) | (.49) | (.52) | (.36) | |||||
Distributions from net realized gain | (.37) | (1.90) | (1.18) | (2.08) | (3.99) | |||||
Total distributions | (.64) | (2.41) D | (1.67) | (2.60) | (4.35) | |||||
Net asset value, end of period | $ | 39.49 | $ | 36.14 | $ | 37.99 | $ | 31.86 | $ | 32.69 |
Total Return E,F | 11.36% | 1.23% | 25.55% | 5.62% | 13.93% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.41% | 1.17% | 1.05% | 1.01% | 1.17% | |||||
Expenses net of fee waivers, if any | 1.40% | 1.16% | 1.05% | 1.01% | 1.16% | |||||
Expenses net of all reductions | 1.40% | 1.16% | 1.05% | 1.00% | 1.16% | |||||
Net investment income (loss) | .58% | .83% | 1.42% C | 1.50% | 1.46% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 169,910 | $ | 166,368 | $ | 176,983 | $ | 153,918 | $ | 175,139 |
Portfolio turnover rate I | 13% | 11% | 17% | 22% | 28% J |
Fidelity Advisor® Large Cap Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 31.34 | $ | 33.25 | $ | 28.08 | $ | 29.09 | $ | 30.44 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .02 | .09 | .29 C | .25 | .25 | |||||
Net realized and unrealized gain (loss) | 3.27 | .24 | 6.40 | 1.18 | 2.60 | |||||
Total from investment operations | 3.29 | .33 | 6.69 | 1.43 | 2.85 | |||||
Distributions from net investment income | (.15) | (.34) | (.34) | (.36) | (.21) | |||||
Distributions from net realized gain | (.37) | (1.90) | (1.18) | (2.08) | (3.99) | |||||
Total distributions | (.52) | (2.24) | (1.52) | (2.44) | (4.20) | |||||
Net asset value, end of period | $ | 34.11 | $ | 31.34 | $ | 33.25 | $ | 28.08 | $ | 29.09 |
Total Return D,E | 10.77% | .70% | 24.90% | 5.10% | 13.33% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.93% | 1.69% | 1.57% | 1.53% | 1.67% | |||||
Expenses net of fee waivers, if any | 1.93% | 1.68% | 1.57% | 1.52% | 1.67% | |||||
Expenses net of all reductions | 1.93% | 1.68% | 1.57% | 1.52% | 1.67% | |||||
Net investment income (loss) | .05% | .30% | .90% C | .98% | .95% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 78,499 | $ | 81,509 | $ | 89,886 | $ | 88,926 | $ | 119,072 |
Portfolio turnover rate H | 13% | 11% | 17% | 22% | 28% I |
Fidelity Advisor® Large Cap Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 38.83 | $ | 40.63 | $ | 33.94 | $ | 34.63 | $ | 35.37 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .43 | .51 | .76 C | .61 | .62 | |||||
Net realized and unrealized gain (loss) | 4.04 | .30 | 7.76 | 1.44 | 3.17 | |||||
Total from investment operations | 4.47 | .81 | 8.52 | 2.05 | 3.79 | |||||
Distributions from net investment income | (.45) | (.71) | (.64) | (.66) | (.54) | |||||
Distributions from net realized gain | (.37) | (1.90) | (1.18) | (2.08) | (3.99) | |||||
Total distributions | (.82) | (2.61) | (1.83) D | (2.74) | (4.53) | |||||
Net asset value, end of period | $ | 42.48 | $ | 38.83 | $ | 40.63 | $ | 33.94 | $ | 34.63 |
Total Return E | 11.90% | 1.77% | 26.22% | 6.17% | 14.54% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .90% | .65% | .54% | .48% | .64% | |||||
Expenses net of fee waivers, if any | .89% | .65% | .54% | .48% | .64% | |||||
Expenses net of all reductions | .89% | .65% | .54% | .48% | .64% | |||||
Net investment income (loss) | 1.08% | 1.34% | 1.93% C | 2.03% | 1.98% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 263,769 | $ | 224,889 | $ | 257,331 | $ | 206,090 | $ | 301,067 |
Portfolio turnover rate H | 13% | 11% | 17% | 22% | 28% I |
Fidelity Advisor® Large Cap Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 38.81 | $ | 40.61 | $ | 33.93 | $ | 34.64 | $ | 35.41 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .48 | .55 | .81 C | .64 | .66 | |||||
Net realized and unrealized gain (loss) | 4.04 | .30 | 7.74 | 1.45 | 3.16 | |||||
Total from investment operations | 4.52 | .85 | 8.55 | 2.09 | 3.82 | |||||
Distributions from net investment income | (.50) | (.76) | (.69) | (.72) | (.60) | |||||
Distributions from net realized gain | (.37) | (1.90) | (1.18) | (2.08) | (3.99) | |||||
Total distributions | (.87) | (2.65) D | (1.87) | (2.80) | (4.59) | |||||
Net asset value, end of period | $ | 42.46 | $ | 38.81 | $ | 40.61 | $ | 33.93 | $ | 34.64 |
Total Return E | 12.06% | 1.88% | 26.36% | 6.30% | 14.67% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .78% | .53% | .42% | .36% | .51% | |||||
Expenses net of fee waivers, if any | .77% | .53% | .42% | .36% | .51% | |||||
Expenses net of all reductions | .77% | .53% | .42% | .36% | .51% | |||||
Net investment income (loss) | 1.20% | 1.46% | 2.05% C | 2.15% | 2.11% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 57,007 | $ | 43,889 | $ | 39,055 | $ | 30,308 | $ | 28,596 |
Portfolio turnover rate H | 13% | 11% | 17% | 22% | 28% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $454,881,687 |
Gross unrealized depreciation | (39,774,802) |
Net unrealized appreciation (depreciation) | $415,106,885 |
Tax Cost | $767,400,226 |
Undistributed ordinary income | $8,157,338 |
Undistributed long-term capital gain | $31,696,072 |
Net unrealized appreciation (depreciation) on securities and other investments | $415,099,441 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $10,390,829 | $17,244,942 |
Long-term Capital Gains | 10,718,499 | 49,774,693 |
Total | $21,109,328 | $67,019,635 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Large Cap Fund | 155,204,259 | 136,555,410 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $1,399,093 | $27,957 |
Class M | .25% | .25% | 827,648 | 4,496 |
Class C | .75% | .25% | 791,031 | 87,378 |
$3,017,772 | $119,831 |
Retained by FDC | |
Class A | $181,129 |
Class M | 9,934 |
Class CA | 2,182 |
$193,245 |
Amount | % of Class-Level Average Net Assets | |
Class A | $971,143 | .17 |
Class M | 284,318 | .17 |
Class C | 153,029 | .19 |
Class I | 389,623 | .16 |
Class Z | 20,829 | .04 |
$1,818,942 |
% of Class-Level Average Net Assets | |
Class A | .1712% |
Class M | .1691% |
Class C | .1911% |
Class I | .1622% |
% of Average Net Assets | |
Fidelity Advisor Large Cap Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Large Cap Fund | .0289% |
Amount | |
Fidelity Advisor Large Cap Fund | $2,739 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Large Cap Fund | 11,841,239 | 3,202,059 | 739,596 |
Amount | |
Fidelity Advisor Large Cap Fund | $1,935 |
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 Large Cap Fund | $7,669 | $- | $- |
Expense reduction | |
Class A | $467 |
Class M | 3,357 |
$3,824 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Large Cap Fund | ||
Distributions to shareholders | ||
Class A | $10,995,838 | $30,944,684 |
Class M | 2,923,336 | 11,170,201 |
Class C | 1,372,106 | 5,966,361 |
Class I | 4,801,903 | 16,368,054 |
Class Z | 1,016,145 | 2,570,335 |
Total | $21,109,328 | $67,019,635 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Large Cap Fund | ||||
Class A | ||||
Shares sold | 2,807,564 | 3,626,974 | $103,049,397 | $128,966,334 |
Reinvestment of distributions | 303,648 | 779,090 | 10,211,667 | 29,356,126 |
Shares redeemed | (2,434,322) | (2,014,687) | (88,871,917) | (70,920,013) |
Net increase (decrease) | 676,890 | 2,391,377 | $24,389,147 | $87,402,447 |
Class M | ||||
Shares sold | 342,729 | 379,641 | $12,674,254 | $13,633,890 |
Reinvestment of distributions | 85,769 | 292,695 | 2,880,972 | 11,008,245 |
Shares redeemed | (728,972) | (727,664) | (26,964,973) | (25,981,535) |
Net increase (decrease) | (300,474) | (55,328) | $(11,409,747) | $(1,339,400) |
Class C | ||||
Shares sold | 556,640 | 660,665 | $17,464,429 | $20,016,036 |
Reinvestment of distributions | 44,771 | 175,143 | 1,305,531 | 5,739,439 |
Shares redeemed | (900,797) | (938,456) | (28,576,810) | (28,835,259) |
Net increase (decrease) | (299,386) | (102,648) | $(9,806,850) | $(3,079,784) |
Class I | ||||
Shares sold | 1,808,651 | 2,154,388 | $71,353,892 | $82,102,984 |
Reinvestment of distributions | 111,978 | 355,420 | 4,027,848 | 14,291,444 |
Shares redeemed | (1,504,177) | (3,050,691) | (59,011,039) | (115,517,358) |
Net increase (decrease) | 416,452 | (540,883) | $16,370,701 | $(19,122,930) |
Class Z | ||||
Shares sold | 456,929 | 296,020 | $18,091,935 | $11,181,715 |
Reinvestment of distributions | 25,887 | 57,903 | 929,329 | 2,324,789 |
Shares redeemed | (271,001) | (184,633) | (10,611,382) | (7,017,910) |
Net increase (decrease) | 211,815 | 169,290 | $8,409,882 | $6,488,594 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Large Cap Fund | ||||||||||
Class A | 1.16% | |||||||||
Actual | $ 1,000 | $ 1,097.20 | $ 6.10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.25 | $ 5.87 | |||||||
Class M | 1.41% | |||||||||
Actual | $ 1,000 | $ 1,096.00 | $ 7.41 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.00 | $ 7.13 | |||||||
Class C | 1.93% | |||||||||
Actual | $ 1,000 | $ 1,092.90 | $ 10.13 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.39 | $ 9.75 | |||||||
Class I | .90% | |||||||||
Actual | $ 1,000 | $ 1,098.50 | $ 4.73 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.56 | $ 4.56 | |||||||
Class Z | .78% | |||||||||
Actual | $ 1,000 | $ 1,099.40 | $ 4.11 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.16 | $ 3.95 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | 17.47% | 14.94% | 14.48% |
Class M (incl. 3.50% sales charge) | 19.98% | 15.21% | 14.49% |
Class C (incl. contingent deferred sales charge) | 22.70% | 15.44% | 14.47% |
Class I | 24.96% | 16.61% | 15.47% |
Class Z | 25.12% | 16.75% | 15.62% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Growth Opportunities Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell 1000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 10.7 | |
NVIDIA Corp. | 8.0 | |
Amazon.com, Inc. | 5.0 | |
Alphabet, Inc. Class C | 4.9 | |
Meta Platforms, Inc. Class A | 4.9 | |
Uber Technologies, Inc. | 3.4 | |
Roku, Inc. Class A | 3.2 | |
T-Mobile U.S., Inc. | 2.9 | |
UnitedHealth Group, Inc. | 2.3 | |
Apple, Inc. | 2.2 | |
47.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 40.2 | |
Communication Services | 21.6 | |
Health Care | 10.8 | |
Financials | 8.9 | |
Consumer Discretionary | 7.7 | |
Industrials | 7.0 | |
Energy | 1.2 | |
Utilities | 1.2 | |
Consumer Staples | 0.7 | |
Real Estate | 0.4 | |
Materials | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 21.3% | |||
Entertainment - 4.7% | |||
Netflix, Inc. (a) | 203,100 | 96,263 | |
Roku, Inc. Class A (a)(b) | 5,359,420 | 558,452 | |
Sea Ltd. ADR (a) | 4,269,384 | 154,637 | |
809,352 | |||
Interactive Media & Services - 13.3% | |||
Alphabet, Inc.: | |||
Class A (a) | 2,673,760 | 354,353 | |
Class C (a) | 6,376,180 | 853,898 | |
Epic Games, Inc. (a)(c)(d) | 56,200 | 33,212 | |
Meta Platforms, Inc. Class A (a) | 2,575,485 | 842,570 | |
Snap, Inc. Class A (a) | 10,559,743 | 146,041 | |
Zoominfo Technologies, Inc. (a) | 5,262,500 | 75,622 | |
2,305,696 | |||
Media - 0.4% | |||
Charter Communications, Inc. Class A (a) | 39,400 | 15,765 | |
Magnite, Inc. (a)(b) | 5,285,531 | 42,707 | |
The Trade Desk, Inc. (a) | 25,600 | 1,804 | |
60,276 | |||
Wireless Telecommunication Services - 2.9% | |||
T-Mobile U.S., Inc. | 3,369,325 | 506,915 | |
TOTAL COMMUNICATION SERVICES | 3,682,239 | ||
CONSUMER DISCRETIONARY - 7.5% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. (a)(c)(d) | 474,927 | 15 | |
Rad Power Bikes, Inc. (c)(d) | 382,384 | 161 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(c)(d) | 449,400 | 1,029 | |
Tesla, Inc. (a) | 6,940 | 1,666 | |
2,871 | |||
Broadline Retail - 5.0% | |||
Amazon.com, Inc. (a) | 5,946,340 | 868,701 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Doordash, Inc. (a) | 41,500 | 3,900 | |
Sonder Holdings, Inc.: | |||
Stage 1 rights (a)(d) | 15,489 | 0 | |
Stage 2 rights (a)(d) | 15,488 | 0 | |
Stage 3 rights (a)(d) | 15,488 | 0 | |
Stage 4 rights (a)(d) | 15,488 | 0 | |
Stage 5: | |||
rights (a)(d) | 15,488 | 0 | |
rights (a)(d) | 15,488 | 0 | |
3,900 | |||
Household Durables - 0.0% | |||
D.R. Horton, Inc. | 13,500 | 1,724 | |
Lennar Corp. Class A | 19,600 | 2,507 | |
4,231 | |||
Specialty Retail - 2.0% | |||
Auto1 Group SE (a)(e) | 5,356,998 | 33,704 | |
Carvana Co. Class A (a)(b) | 2,328,300 | 72,922 | |
Floor & Decor Holdings, Inc. Class A (a)(b) | 1,534,500 | 140,729 | |
Lowe's Companies, Inc. | 328,600 | 65,336 | |
Wayfair LLC Class A (a) | 433,529 | 24,191 | |
336,882 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
Bombas LLC (a)(c)(d) | 5,086,874 | 14,650 | |
lululemon athletica, Inc. (a) | 132,810 | 59,340 | |
73,990 | |||
TOTAL CONSUMER DISCRETIONARY | 1,290,575 | ||
CONSUMER STAPLES - 0.6% | |||
Beverages - 0.2% | |||
The Coca-Cola Co. | 428,400 | 25,036 | |
Consumer Staples Distribution & Retail - 0.4% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 1,054,200 | 68,080 | |
Maplebear, Inc. (b) | 39,000 | 943 | |
Maplebear, Inc. (unlisted) | 357,608 | 7,785 | |
76,808 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. warrants (a)(c)(d) | 219,265 | 906 | |
Tobacco - 0.0% | |||
JUUL Labs, Inc. Class B (a)(c)(d) | 2,772 | 3 | |
TOTAL CONSUMER STAPLES | 102,753 | ||
ENERGY - 1.2% | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Antero Resources Corp. (a) | 2,635,247 | 62,271 | |
Canadian Natural Resources Ltd. | 482,600 | 32,225 | |
Hess Corp. | 242,645 | 34,106 | |
Ovintiv, Inc. | 894,500 | 39,662 | |
Tourmaline Oil Corp. (b) | 891,700 | 43,161 | |
211,425 | |||
FINANCIALS - 8.6% | |||
Banks - 0.2% | |||
Starling Bank Ltd. Series D (a)(c)(d) | 6,988,700 | 26,557 | |
Capital Markets - 0.7% | |||
LPL Financial | 570,200 | 126,755 | |
Financial Services - 7.7% | |||
Apollo Global Management, Inc. | 204,000 | 18,768 | |
Block, Inc. Class A (a) | 4,432,500 | 281,153 | |
Dlocal Ltd. (a) | 4,911,117 | 84,717 | |
Fiserv, Inc. (a) | 1,334,000 | 174,234 | |
Global Payments, Inc. | 1,801,300 | 209,743 | |
Marqeta, Inc. Class A (a) | 21,198,352 | 134,610 | |
MasterCard, Inc. Class A | 238,512 | 98,703 | |
PayPal Holdings, Inc. (a) | 31,000 | 1,786 | |
Rapyd Financial Network 2016 Ltd. (a)(c)(d) | 340,545 | 23,038 | |
Repay Holdings Corp. (a) | 3,824,627 | 28,685 | |
Visa, Inc. Class A | 1,057,661 | 271,480 | |
1,326,917 | |||
TOTAL FINANCIALS | 1,480,229 | ||
HEALTH CARE - 10.7% | |||
Biotechnology - 1.6% | |||
Alnylam Pharmaceuticals, Inc. (a) | 97,735 | 16,444 | |
ALX Oncology Holdings, Inc. (a) | 900,500 | 7,060 | |
Argenx SE ADR (a) | 100,199 | 45,151 | |
Ascendis Pharma A/S sponsored ADR (a) | 67,662 | 6,795 | |
Celldex Therapeutics, Inc. (a) | 915,900 | 27,669 | |
Cytokinetics, Inc. (a) | 1,061,100 | 35,526 | |
Icosavax, Inc. (a) | 1,734,129 | 17,549 | |
Keros Therapeutics, Inc. (a) | 277,800 | 8,428 | |
Moderna, Inc. (a) | 116,900 | 9,083 | |
Nuvalent, Inc. Class A (a) | 338,976 | 22,159 | |
Regeneron Pharmaceuticals, Inc. (a) | 20,700 | 17,053 | |
Vaxcyte, Inc. (a) | 1,130,143 | 58,508 | |
Zentalis Pharmaceuticals, Inc. (a) | 886,900 | 9,978 | |
281,403 | |||
Health Care Equipment & Supplies - 2.8% | |||
Baxter International, Inc. | 47,300 | 1,707 | |
Blink Health LLC Series A1 (a)(c)(d) | 56,119 | 2,634 | |
Boston Scientific Corp. (a) | 5,758,374 | 321,836 | |
Inspire Medical Systems, Inc. (a) | 7,700 | 1,119 | |
Penumbra, Inc. (a) | 357,063 | 79,300 | |
TransMedics Group, Inc. (a) | 1,124,817 | 85,126 | |
491,722 | |||
Health Care Providers & Services - 4.2% | |||
agilon health, Inc. (a)(b) | 7,247,676 | 76,970 | |
Alignment Healthcare, Inc. (a) | 986,100 | 7,396 | |
Centene Corp. (a) | 1,156,544 | 85,214 | |
Humana, Inc. | 339,560 | 164,639 | |
UnitedHealth Group, Inc. | 709,967 | 392,590 | |
726,809 | |||
Life Sciences Tools & Services - 0.8% | |||
Danaher Corp. | 290,300 | 64,827 | |
Thermo Fisher Scientific, Inc. | 136,200 | 67,523 | |
132,350 | |||
Pharmaceuticals - 1.3% | |||
Eli Lilly & Co. | 322,000 | 190,315 | |
Novo Nordisk A/S Series B | 162,200 | 16,571 | |
Structure Therapeutics, Inc. ADR | 263,100 | 14,652 | |
221,538 | |||
TOTAL HEALTH CARE | 1,853,822 | ||
INDUSTRIALS - 6.3% | |||
Aerospace & Defense - 0.7% | |||
Space Exploration Technologies Corp. Class A (a)(c)(d) | 85,000 | 6,885 | |
The Boeing Co. (a) | 492,000 | 113,962 | |
120,847 | |||
Building Products - 0.0% | |||
Builders FirstSource, Inc. (a) | 12,700 | 1,703 | |
Commercial Services & Supplies - 0.3% | |||
ACV Auctions, Inc. Class A (a) | 2,649,200 | 41,407 | |
Veralto Corp. | 86,466 | 6,679 | |
48,086 | |||
Electrical Equipment - 1.4% | |||
Bloom Energy Corp. Class A (a)(b) | 1,484,400 | 21,435 | |
Eaton Corp. PLC | 114,900 | 26,162 | |
Nextracker, Inc. Class A | 59,400 | 2,414 | |
Sunrun, Inc. (a) | 88,600 | 1,143 | |
Vertiv Holdings Co. | 4,375,200 | 191,021 | |
242,175 | |||
Ground Transportation - 3.9% | |||
Bird Global, Inc.: | |||
Stage 1 rights (a)(d) | 4,240 | 0 | |
Stage 2 rights (a)(d) | 4,240 | 0 | |
Stage 3 rights (a)(d) | 4,240 | 0 | |
Lyft, Inc. (a) | 6,895,954 | 80,890 | |
Uber Technologies, Inc. (a) | 10,567,881 | 595,817 | |
676,707 | |||
Machinery - 0.0% | |||
Symbotic, Inc. (a)(b) | 37,200 | 1,967 | |
TOTAL INDUSTRIALS | 1,091,485 | ||
INFORMATION TECHNOLOGY - 39.3% | |||
Communications Equipment - 0.2% | |||
Lumentum Holdings, Inc. (a) | 953,500 | 40,810 | |
Electronic Equipment, Instruments & Components - 2.3% | |||
Coherent Corp. (a) | 654,600 | 24,083 | |
Flex Ltd. (a) | 11,625,999 | 295,882 | |
Jabil, Inc. | 657,700 | 75,846 | |
395,811 | |||
IT Services - 1.8% | |||
Accenture PLC Class A | 51,300 | 17,090 | |
EPAM Systems, Inc. (a) | 504,037 | 130,137 | |
MongoDB, Inc. Class A (a) | 391,900 | 162,929 | |
Snowflake, Inc. (a) | 54,500 | 10,229 | |
320,385 | |||
Semiconductors & Semiconductor Equipment - 15.5% | |||
Advanced Micro Devices, Inc. (a) | 2,273,100 | 275,409 | |
Applied Materials, Inc. | 273,901 | 41,025 | |
Arm Holdings Ltd. ADR (b) | 148,600 | 9,139 | |
First Solar, Inc. (a) | 11,100 | 1,751 | |
GaN Systems, Inc. (d) | 1,457,290 | 147 | |
GaN Systems, Inc. (d) | 1,457,290 | 0 | |
GlobalFoundries, Inc. (a) | 819,500 | 43,999 | |
Marvell Technology, Inc. | 4,434,130 | 247,114 | |
NVIDIA Corp. | 2,960,572 | 1,384,660 | |
NXP Semiconductors NV | 1,437,067 | 293,277 | |
ON Semiconductor Corp. (a) | 3,828,761 | 273,106 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,068,700 | 103,995 | |
2,673,622 | |||
Software - 17.2% | |||
Adobe, Inc. (a) | 220,100 | 134,483 | |
Autodesk, Inc. (a) | 37,500 | 8,191 | |
Cadence Design Systems, Inc. (a) | 6,400 | 1,749 | |
Confluent, Inc. (a) | 100,000 | 2,122 | |
Convoy, Inc. warrants (a)(c)(d) | 68,035 | 0 | |
CoreWeave, Inc. (c)(d) | 10,181 | 3,155 | |
Datadog, Inc. Class A (a) | 914,200 | 106,568 | |
DoubleVerify Holdings, Inc. (a) | 1,126,845 | 37,411 | |
Dynatrace, Inc. (a) | 2,112,464 | 113,122 | |
HubSpot, Inc. (a) | 160,549 | 79,300 | |
Intapp, Inc. (a) | 1,473,769 | 55,266 | |
Intuit, Inc. | 166,208 | 94,981 | |
Klaviyo, Inc. Class A | 38,300 | 1,135 | |
Microsoft Corp. | 4,861,615 | 1,842,116 | |
Oracle Corp. | 1,338,200 | 155,512 | |
Palo Alto Networks, Inc. (a) | 112,300 | 33,139 | |
Pine Labs Private Ltd. (a)(c)(d) | 16,636 | 5,421 | |
Salesforce, Inc. (a) | 511,938 | 128,957 | |
Samsara, Inc. (a) | 62,900 | 1,732 | |
ServiceNow, Inc. (a) | 242,758 | 166,469 | |
Stripe, Inc. Class B (a)(c)(d) | 73,500 | 1,618 | |
2,972,447 | |||
Technology Hardware, Storage & Peripherals - 2.3% | |||
Apple, Inc. | 1,959,760 | 372,256 | |
Pure Storage, Inc. Class A (a) | 750,200 | 24,989 | |
397,245 | |||
TOTAL INFORMATION TECHNOLOGY | 6,800,320 | ||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.4% | |||
American Tower Corp. | 309,000 | 64,513 | |
UTILITIES - 1.2% | |||
Electric Utilities - 1.2% | |||
Constellation Energy Corp. | 727,733 | 88,085 | |
PG&E Corp. | 6,632,800 | 113,885 | |
201,970 | |||
TOTAL COMMON STOCKS (Cost $10,037,340) | 16,779,331 | ||
Preferred Stocks - 2.6% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 2.1% | |||
COMMUNICATION SERVICES - 0.3% | |||
Interactive Media & Services - 0.3% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 116,411 | 29,592 | |
Reddit, Inc. Series F (a)(c)(d) | 793,873 | 24,936 | |
54,528 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(c)(d) | 49,852 | 21 | |
Series C(a)(c)(d) | 196,163 | 141 | |
Series D(a)(c)(d) | 415,700 | 432 | |
594 | |||
Broadline Retail - 0.1% | |||
Meesho Series F (a)(c)(d) | 243,800 | 15,813 | |
TOTAL CONSUMER DISCRETIONARY | 16,407 | ||
CONSUMER STAPLES - 0.1% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc. Series G (a)(c)(d) | 70,400 | 3,661 | |
Food Products - 0.1% | |||
Bowery Farming, Inc.: | |||
Series C1(a)(c)(d) | 404,785 | 3,218 | |
Series D1(c)(d) | 219,265 | 1,166 | |
4,384 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc.: | |||
Series C(a)(c)(d) | 566,439 | 606 | |
Series D(a)(c)(d) | 3,671 | 4 | |
610 | |||
TOTAL CONSUMER STAPLES | 8,655 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (a)(c)(d) | 155,650 | 3,175 | |
Tenstorrent Holdings, Inc. Series C1 (c)(d) | 63,679 | 3,566 | |
6,741 | |||
HEALTH CARE - 0.1% | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(c)(d) | 234,164 | 10,989 | |
Health Care Technology - 0.0% | |||
Aledade, Inc. Series E1 (a)(c)(d) | 153,312 | 7,261 | |
TOTAL HEALTH CARE | 18,250 | ||
INDUSTRIALS - 0.7% | |||
Aerospace & Defense - 0.5% | |||
Relativity Space, Inc. Series E (a)(c)(d) | 1,068,417 | 22,693 | |
Space Exploration Technologies Corp.: | |||
Series I(a)(c)(d) | 16,438 | 13,315 | |
Series N(a)(c)(d) | 51,400 | 41,634 | |
77,642 | |||
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series A (a)(c)(d) | 441,839 | 39,783 | |
TOTAL INDUSTRIALS | 117,425 | ||
INFORMATION TECHNOLOGY - 0.7% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
CelLink Corp. Series D (a)(c)(d) | 380,829 | 3,789 | |
Enevate Corp. Series E (a)(c)(d) | 7,873,996 | 6,614 | |
VAST Data Ltd.: | |||
Series A(c)(d) | 54,250 | 597 | |
Series A1(c)(d) | 133,528 | 1,469 | |
Series A2(c)(d) | 153,600 | 1,690 | |
Series B(c)(d) | 122,222 | 1,344 | |
Series C(c)(d) | 3,563 | 39 | |
Series E(c)(d) | 116,791 | 2,569 | |
18,111 | |||
IT Services - 0.0% | |||
Yanka Industries, Inc.: | |||
Series E(a)(c)(d) | 341,047 | 2,381 | |
Series F(a)(c)(d) | 380,955 | 2,659 | |
5,040 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
SiMa.ai: | |||
Series B(a)(c)(d) | 1,198,500 | 7,658 | |
Series B1(a)(c)(d) | 171,099 | 1,266 | |
Xsight Labs Ltd. Series D (a)(c)(d) | 501,100 | 2,260 | |
11,184 | |||
Software - 0.5% | |||
Bolt Technology OU Series E (a)(c)(d) | 290,611 | 33,265 | |
Convoy, Inc. Series D (a)(c)(d) | 1,038,289 | 0 | |
Databricks, Inc.: | |||
Series G(a)(c)(d) | 181,200 | 13,318 | |
Series H(a)(c)(d) | 32,352 | 2,378 | |
Series I(c)(d) | 2,463 | 181 | |
Moloco, Inc. Series A (c)(d) | 265,144 | 16,023 | |
Mountain Digital, Inc. Series D (a)(c)(d) | 896,466 | 13,581 | |
Skyryse, Inc. Series B (a)(c)(d) | 244,100 | 5,839 | |
Stripe, Inc. Series H (a)(c)(d) | 165,183 | 3,636 | |
88,221 | |||
TOTAL INFORMATION TECHNOLOGY | 122,556 | ||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 674,317 | 19,569 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 364,131 | ||
Nonconvertible Preferred Stocks - 0.5% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1C (a)(c)(d) | 6,477,300 | 209 | |
Waymo LLC Series A2 (a)(c)(d) | 47,838 | 2,711 | |
2,920 | |||
FINANCIALS - 0.3% | |||
Financial Services - 0.3% | |||
Circle Internet Financial Ltd. Series E (a)(c)(d) | 1,497,818 | 30,555 | |
Thriveworks TopCo LLC Series B (a)(c)(d)(f) | 764,320 | 8,881 | |
39,436 | |||
INFORMATION TECHNOLOGY - 0.2% | |||
IT Services - 0.0% | |||
Gupshup, Inc. (a)(c)(d) | 509,400 | 6,368 | |
Software - 0.2% | |||
Pine Labs Private Ltd.: | |||
Series 1(a)(c)(d) | 39,764 | 12,957 | |
Series A(a)(c)(d) | 9,936 | 3,238 | |
Series B(a)(c)(d) | 10,808 | 3,522 | |
Series B2(a)(c)(d) | 8,745 | 2,849 | |
Series C(a)(c)(d) | 16,265 | 5,300 | |
Series C1(a)(c)(d) | 3,427 | 1,117 | |
Series D(a)(c)(d) | 3,667 | 1,195 | |
30,178 | |||
TOTAL INFORMATION TECHNOLOGY | 36,546 | ||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 78,902 | ||
TOTAL PREFERRED STOCKS (Cost $547,994) | 443,033 | ||
Convertible Bonds - 0.1% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.1% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (c)(d) | 843 | 1,127 | |
4% 6/12/27 (c)(d) | 232 | 310 | |
5.5% 10/29/26 (c)(d)(h) | 13,440 | 13,373 | |
14,810 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Convoy, Inc. 15% 9/30/26 (c)(d) | 453 | 0 | |
TOTAL CONVERTIBLE BONDS (Cost $14,968) | 14,810 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (c)(d) | 449 | 817 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. 6% (c)(d)(i) | 409 | 415 | |
TOTAL PREFERRED SECURITIES (Cost $858) | 1,232 | ||
Money Market Funds - 1.6% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (j) | 33,279,460 | 33,286 | |
Fidelity Securities Lending Cash Central Fund 5.39% (j)(k) | 248,798,571 | 248,823 | |
TOTAL MONEY MARKET FUNDS (Cost $282,109) | 282,109 | ||
Equity Funds - 0.0% | |||
Shares | Value ($) (000s) | ||
Domestic Equity Funds - 0.0% | |||
iShares Russell 1000 Growth Index ETF (Cost $7,503) | 25,800 | 7,504 | |
TOTAL INVESTMENT IN SECURITIES - 101.4% (Cost $10,890,772) | 17,528,019 |
NET OTHER ASSETS (LIABILITIES) - (1.4)% | (246,407) |
NET ASSETS - 100.0% | 17,281,612 |
ETF | - | EXCHANGE-TRADED FUND |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $578,359,000 or 3.3% of net assets. |
(d) | Level 3 security |
(e) | 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 $33,704,000 or 0.2% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(k) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Aledade, Inc. Series E1 | 5/20/22 | 7,637 |
Beta Technologies, Inc. Series A | 4/09/21 | 32,374 |
Blink Health LLC Series A1 | 12/30/20 | 1,520 |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 8,939 |
Bolt Technology OU Series E | 1/03/22 | 75,500 |
Bombas LLC | 2/16/21 - 11/12/21 | 24,316 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 24,388 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 2,072 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 12,756 |
CelLink Corp. Series D | 1/20/22 | 7,930 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 24,310 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 6,559 |
Convoy, Inc. Series D | 10/30/19 | 14,058 |
Convoy, Inc. warrants | 3/24/23 | 0 |
Convoy, Inc. 15% 9/30/26 | 3/24/23 | 453 |
CoreWeave, Inc. | 11/29/23 | 3,155 |
Databricks, Inc. Series G | 2/01/21 | 10,713 |
Databricks, Inc. Series H | 8/31/21 | 2,377 |
Databricks, Inc. Series I | 9/14/23 | 181 |
Diamond Foundry, Inc. Series C | 3/15/21 | 16,184 |
Enevate Corp. Series E | 1/29/21 | 8,730 |
Enevate Corp. 6% | 11/02/23 | 409 |
Epic Games, Inc. | 7/13/20 - 3/29/21 | 45,615 |
GoBrands, Inc. Series G | 3/02/21 | 17,580 |
Gupshup, Inc. | 6/08/21 | 11,648 |
JUUL Labs, Inc. Class B | 11/21/17 | 0 |
JUUL Labs, Inc. Series C | 5/22/15 | 0 |
JUUL Labs, Inc. Series D | 6/25/18 | 0 |
Meesho Series F | 9/21/21 | 18,693 |
Moloco, Inc. Series A | 6/26/23 | 15,909 |
Mountain Digital, Inc. Series D | 11/05/21 | 20,588 |
Neutron Holdings, Inc. | 2/04/21 | 5 |
Neutron Holdings, Inc. Series 1C | 7/03/18 | 1,184 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 843 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 232 |
Neutron Holdings, Inc. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 13,441 |
Pine Labs Private Ltd. | 6/30/21 | 6,203 |
Pine Labs Private Ltd. Series 1 | 6/30/21 | 14,826 |
Pine Labs Private Ltd. Series A | 6/30/21 | 3,705 |
Pine Labs Private Ltd. Series B | 6/30/21 | 4,030 |
Pine Labs Private Ltd. Series B2 | 6/30/21 | 3,261 |
Pine Labs Private Ltd. Series C | 6/30/21 | 6,065 |
Pine Labs Private Ltd. Series C1 | 6/30/21 | 1,278 |
Pine Labs Private Ltd. Series D | 6/30/21 | 1,367 |
Rad Power Bikes, Inc. | 1/21/21 | 1,845 |
Rad Power Bikes, Inc. warrants 10/6/33 | 10/06/23 | 0 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 240 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 946 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 3,984 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 449 |
Rapyd Financial Network 2016 Ltd. | 3/30/21 | 25,000 |
Reddit, Inc. Series F | 8/11/21 | 49,057 |
Relativity Space, Inc. Series E | 5/27/21 | 24,397 |
SiMa.ai Series B | 5/10/21 | 6,145 |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 1,213 |
Skyryse, Inc. Series B | 10/21/21 | 6,024 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 3,570 |
Space Exploration Technologies Corp. Series I | 4/05/18 | 2,778 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 13,878 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 13,359 |
Stripe, Inc. Class B | 5/18/21 | 2,949 |
Stripe, Inc. Series H | 3/15/21 - 5/25/23 | 6,628 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 3,786 |
Thriveworks TopCo LLC Series B | 7/23/21 - 2/25/22 | 21,938 |
VAST Data Ltd. Series A | 11/28/23 | 597 |
VAST Data Ltd. Series A1 | 11/28/23 | 1,469 |
VAST Data Ltd. Series A2 | 11/28/23 | 1,690 |
VAST Data Ltd. Series B | 11/28/23 | 1,344 |
VAST Data Ltd. Series C | 11/28/23 | 39 |
VAST Data Ltd. Series E | 11/28/23 | 2,569 |
Waymo LLC Series A2 | 5/08/20 | 4,108 |
Xsight Labs Ltd. Series D | 2/16/21 | 4,007 |
Yanka Industries, Inc. Series E | 5/15/20 | 4,120 |
Yanka Industries, Inc. Series F | 4/08/21 | 12,144 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 4,561 | 1,842,567 | 1,813,842 | 1,452 | - | - | 33,286 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 168,941 | 1,896,704 | 1,816,822 | 2,070 | - | - | 248,823 | 0.9% |
Total | 173,502 | 3,739,271 | 3,630,664 | 3,522 | - | - | 282,109 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
P3 Health Partners, Inc. | 9,715 | - | - | - | - | 10,610 | - |
P3 Health Partners, Inc. Class A | - | - | 3,082 | - | (17,243) | - | - |
Repay Holdings Corp. | 46,202 | 5,416 | 15,276 | - | (37,509) | 29,852 | - |
Total | 55,917 | 5,416 | 18,358 | - | (54,752) | 40,462 | - |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 3,736,767 | 3,649,027 | - | 87,740 |
Consumer Discretionary | 1,309,902 | 1,274,720 | - | 35,182 |
Consumer Staples | 111,408 | 94,059 | 7,785 | 9,564 |
Energy | 211,425 | 211,425 | - | - |
Financials | 1,526,406 | 1,430,634 | - | 95,772 |
Health Care | 1,872,072 | 1,834,617 | 16,571 | 20,884 |
Industrials | 1,208,910 | 1,084,600 | - | 124,310 |
Information Technology | 6,959,422 | 6,789,979 | - | 169,443 |
Materials | 19,569 | - | - | 19,569 |
Real Estate | 64,513 | 64,513 | - | - |
Utilities | 201,970 | 201,970 | - | - |
Corporate Bonds | 14,810 | - | - | 14,810 |
Preferred Securities | 1,232 | - | - | 1,232 |
Money Market Funds | 282,109 | 282,109 | - | - |
Equity Funds | 7,504 | 7,504 | - | - |
Total Investments in Securities: | 17,528,019 | 16,925,157 | 24,356 | 578,506 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Beginning Balance | $ | 599,099 | |
Net Realized Gain (Loss) on Investment Securities | 4,883 | ||
Net Unrealized Gain (Loss) on Investment Securities | (107,314) | ||
Cost of Purchases | 36,970 | ||
Proceeds of Sales | (20,593) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 81,232 | ||
Transfers out of Level 3 | (15,771) | ||
Ending Balance | $ | 578,506 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (111,977) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $240,585) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $10,608,663) | $ | 17,245,910 | ||
Fidelity Central Funds (cost $282,109) | 282,109 | |||
Total Investment in Securities (cost $10,890,772) | $ | 17,528,019 | ||
Cash | 11 | |||
Foreign currency held at value (cost $22) | 21 | |||
Receivable for investments sold | 18,209 | |||
Receivable for fund shares sold | 16,233 | |||
Dividends receivable | 8,572 | |||
Interest receivable | 267 | |||
Distributions receivable from Fidelity Central Funds | 219 | |||
Prepaid expenses | 20 | |||
Other receivables | 12 | |||
Total assets | 17,571,583 | |||
Liabilities | ||||
Payable for investments purchased | $ | 13,898 | ||
Payable for fund shares redeemed | 18,404 | |||
Accrued management fee | 4,164 | |||
Distribution and service plan fees payable | 2,456 | |||
Other affiliated payables | 2,065 | |||
Other payables and accrued expenses | 180 | |||
Collateral on securities loaned | 248,804 | |||
Total Liabilities | 289,971 | |||
Net Assets | $ | 17,281,612 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 13,006,945 | ||
Total accumulated earnings (loss) | 4,274,667 | |||
Net Assets | $ | 17,281,612 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($3,383,576 ÷ 28,024 shares)(a) | $ | 120.74 | ||
Maximum offering price per share (100/94.25 of $120.74) | $ | 128.11 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($2,513,293 ÷ 21,191 shares)(a) | $ | 118.60 | ||
Maximum offering price per share (100/96.50 of $118.60) | $ | 122.90 | ||
Class C : | ||||
Net Asset Value and offering price per share ($925,151 ÷ 9,551 shares)(a) | $ | 96.86 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($7,615,393 ÷ 56,870 shares) | $ | 133.91 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($2,844,199 ÷ 20,944 shares) | $ | 135.80 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Consolidated Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 64,830 | ||
Interest | 926 | |||
Income from Fidelity Central Funds (including $2,070 from security lending) | 3,522 | |||
Total Income | 69,278 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 81,137 | ||
Performance adjustment | (36,295) | |||
Transfer agent fees | 22,643 | |||
Distribution and service plan fees | 27,201 | |||
Accounting fees | 1,388 | |||
Custodian fees and expenses | 201 | |||
Independent trustees' fees and expenses | 92 | |||
Registration fees | 301 | |||
Audit | 102 | |||
Legal | 17 | |||
Interest | 248 | |||
Miscellaneous | 72 | |||
Total expenses before reductions | 97,107 | |||
Expense reductions | (943) | |||
Total expenses after reductions | 96,164 | |||
Net Investment income (loss) | (26,886) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $3,296) | (269,696) | |||
Redemptions in-kind | 9,166 | |||
Affiliated issuers | (54,752) | |||
Foreign currency transactions | (296) | |||
Total net realized gain (loss) | (315,578) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $3,285) | 3,733,682 | |||
Affiliated issuers | 40,462 | |||
Unfunded commitments | 1,118 | |||
Assets and liabilities in foreign currencies | 53 | |||
Total change in net unrealized appreciation (depreciation) | 3,775,315 | |||
Net gain (loss) | 3,459,737 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,432,851 |
Consolidated Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (26,886) | $ | (44,246) |
Net realized gain (loss) | (315,578) | (1,922,226) | ||
Change in net unrealized appreciation (depreciation) | 3,775,315 | (6,288,294) | ||
Net increase (decrease) in net assets resulting from operations | 3,432,851 | (8,254,766) | ||
Distributions to shareholders | - | (2,251,740) | ||
Share transactions - net increase (decrease) | (1,067,199) | (103,196) | ||
Total increase (decrease) in net assets | 2,365,652 | (10,609,702) | ||
Net Assets | ||||
Beginning of period | 14,915,960 | 25,525,662 | ||
End of period | $ | 17,281,612 | $ | 14,915,960 |
Fidelity Advisor® Growth Opportunities Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 96.87 | $ | 159.95 | $ | 141.06 | $ | 90.00 | $ | 76.87 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.29) | (.38) | (1.06) | (.56) | (.18) C | |||||
Net realized and unrealized gain (loss) | 24.16 | (48.08) | 27.68 | 55.26 | 21.21 | |||||
Total from investment operations | 23.87 | (48.46) | 26.62 | 54.70 | 21.03 | |||||
Distributions from net realized gain | - | (14.62) | (7.73) | (3.64) | (7.90) | |||||
Total distributions | - | (14.62) | (7.73) | (3.64) | (7.90) | |||||
Net asset value, end of period | $ | 120.74 | $ | 96.87 | $ | 159.95 | $ | 141.06 | $ | 90.00 |
Total Return D,E | 24.64% | (33.31)% | 19.60% | 63.12% | 31.29% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .72% | .89% | 1.04% | 1.06% | 1.11% | |||||
Expenses net of fee waivers, if any | .72% | .89% | 1.04% | 1.06% | 1.11% | |||||
Expenses net of all reductions | .72% | .89% | 1.04% | 1.06% | 1.10% | |||||
Net investment income (loss) | (.27)% | (.35)% | (.68)% | (.52)% | (.22)% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 3,384 | $ | 2,749 | $ | 4,184 | $ | 3,037 | $ | 1,349 |
Portfolio turnover rate H | 50% I | 75% | 66% | 47% | 37% I |
Fidelity Advisor® Growth Opportunities Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 95.39 | $ | 157.62 | $ | 139.13 | $ | 89.03 | $ | 76.28 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.53) | (.64) | (1.41) | (.79) | (.37) C | |||||
Net realized and unrealized gain (loss) | 23.74 | (47.42) | 27.31 | 54.53 | 21.02 | |||||
Total from investment operations | 23.21 | (48.06) | 25.90 | 53.74 | 20.65 | |||||
Distributions from net realized gain | - | (14.17) | (7.41) | (3.64) | (7.90) | |||||
Total distributions | - | (14.17) | (7.41) | (3.64) | (7.90) | |||||
Net asset value, end of period | $ | 118.60 | $ | 95.39 | $ | 157.62 | $ | 139.13 | $ | 89.03 |
Total Return D,E | 24.33% | (33.47)% | 19.31% | 62.71% | 31.01% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .96% | 1.13% | 1.28% | 1.30% | 1.34% | |||||
Expenses net of fee waivers, if any | .96% | 1.13% | 1.28% | 1.30% | 1.34% | |||||
Expenses net of all reductions | .96% | 1.13% | 1.28% | 1.30% | 1.34% | |||||
Net investment income (loss) | (.51)% | (.59)% | (.93)% | (.76)% | (.46)% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,513 | $ | 2,136 | $ | 3,481 | $ | 3,153 | $ | 2,094 |
Portfolio turnover rate H | 50% I | 75% | 66% | 47% | 37% I |
Fidelity Advisor® Growth Opportunities Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 78.30 | $ | 132.10 | $ | 118.14 | $ | 76.50 | $ | 67.03 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.88) | (.99) | (1.85) | (1.15) | (.67) C | |||||
Net realized and unrealized gain (loss) | 19.44 | (39.09) | 23.04 | 46.43 | 18.04 | |||||
Total from investment operations | 18.56 | (40.08) | 21.19 | 45.28 | 17.37 | |||||
Distributions from net realized gain | - | (13.72) | (7.23) | (3.64) | (7.90) | |||||
Total distributions | - | (13.72) | (7.23) | (3.64) | (7.90) | |||||
Net asset value, end of period | $ | 96.86 | $ | 78.30 | $ | 132.10 | $ | 118.14 | $ | 76.50 |
Total Return D,E | 23.70% | (33.81)% | 18.70% | 61.89% | 30.31% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | 1.48% | 1.65% | 1.80% | 1.81% | 1.86% | |||||
Expenses net of fee waivers, if any | 1.47% | 1.64% | 1.80% | 1.81% | 1.86% | |||||
Expenses net of all reductions | 1.47% | 1.64% | 1.80% | 1.81% | 1.86% | |||||
Net investment income (loss) | (1.02)% | (1.10)% | (1.44)% | (1.27)% | (.98)% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 925 | $ | 828 | $ | 1,413 | $ | 1,159 | $ | 483 |
Portfolio turnover rate H | 50% I | 75% | 66% | 47% | 37% I |
Fidelity Advisor® Growth Opportunities Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 107.16 | $ | 175.33 | $ | 153.77 | $ | 97.56 | $ | 82.42 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.02) | (.12) | (.74) | (.31) | .03 C | |||||
Net realized and unrealized gain (loss) | 26.77 | (53.08) | 30.27 | 60.16 | 23.01 | |||||
Total from investment operations | 26.75 | (53.20) | 29.53 | 59.85 | 23.04 | |||||
Distributions from net realized gain | - | (14.97) | (7.97) | (3.64) | (7.90) | |||||
Total distributions | - | (14.97) | (7.97) | (3.64) | (7.90) | |||||
Net asset value, end of period | $ | 133.91 | $ | 107.16 | $ | 175.33 | $ | 153.77 | $ | 97.56 |
Total Return D | 24.96% | (33.15)% | 19.90% | 63.52% | 31.66% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .47% | .64% | .79% | .80% | .84% | |||||
Expenses net of fee waivers, if any | .47% | .64% | .79% | .80% | .84% | |||||
Expenses net of all reductions | .47% | .64% | .79% | .80% | .84% | |||||
Net investment income (loss) | (.02)% | (.10)% | (.43)% | (.26)% | .04% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 7,615 | $ | 6,873 | $ | 12,620 | $ | 8,282 | $ | 2,819 |
Portfolio turnover rate G | 50% H | 75% | 66% | 47% | 37% H |
Fidelity Advisor® Growth Opportunities Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 108.54 | $ | 177.37 | $ | 155.40 | $ | 98.44 | $ | 83.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .13 | .03 | (.54) | (.17) | .14 C | |||||
Net realized and unrealized gain (loss) | 27.13 | (53.71) | 30.58 | 60.77 | 23.20 | |||||
Total from investment operations | 27.26 | (53.68) | 30.04 | 60.60 | 23.34 | |||||
Distributions from net realized gain | - | (15.15) | (8.07) | (3.64) | (7.90) | |||||
Total distributions | - | (15.15) | (8.07) | (3.64) | (7.90) | |||||
Net asset value, end of period | $ | 135.80 | $ | 108.54 | $ | 177.37 | $ | 155.40 | $ | 98.44 |
Total Return D | 25.12% | (33.06)% | 20.04% | 63.72% | 31.81% | |||||
Ratios to Average Net Assets A,E,F | ||||||||||
Expenses before reductions | .35% | .52% | .67% | .69% | .72% | |||||
Expenses net of fee waivers, if any | .34% | .51% | .67% | .68% | .72% | |||||
Expenses net of all reductions | .34% | .51% | .67% | .68% | .72% | |||||
Net investment income (loss) | .11% | .03% | (.31)% | (.15)% | .16% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,844 | $ | 2,330 | $ | 3,828 | $ | 2,826 | $ | 1,114 |
Portfolio turnover rate G | 50% H | 75% | 66% | 47% | 37% H |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $562,464 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 13.1- 15.5 / 13.6 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.1 - 21.6 / 6.4 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 11.8 | Increase | |||
Market approach | Transaction price | $1.10 - $309.86 / $46.94 | Increase | ||
Discount rate | 15.0% - 35.0% / 28.2% | Decrease | |||
Premium rate | 10.0% - 35.0% / 17.1% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Weighted average cost of capital (WACC) | 27.1% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.2% - 4.9% / 4.6% | Increase | ||
Volatility | 50.0% - 100.0% / 75.0% | Increase | |||
Term | 2.0 - 5.0 / 3.5 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.10 / $0.01 | Increase | ||
Corporate Bonds | $14,810 | Market comparable | Discount rate | 29.2% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 2.6 | Increase | |||
Probability rate | 10.0% - 75.0% / 33.3% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 1.3 | Increase | |||
Preferred Securities | $1,232 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.5 | Increase |
Market approach | Transaction price | $1.10 | Increase | ||
Discount rate | 30.0% | Decrease | |||
Black scholes | Discount rate | 4.6% - 4.9% / 4.8% | Increase | ||
Volatility | 60.0% - 100.0% / 73.5% | Increase | |||
Term | 2.1 - 3.0 / 2.4 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase |
Fidelity Advisor Growth Opportunities Fund | $11 |
Gross unrealized appreciation | $7,409,595 |
Gross unrealized depreciation | (870,007) |
Net unrealized appreciation (depreciation) | $6,539,588 |
Tax Cost | $10,988,431 |
Capital loss carryforward | $(2,234,570) |
Net unrealized appreciation (depreciation) on securities and other investments | $6,539,601 |
Short-term | $(2,124,156) |
Long-term | (110,414) |
Total capital loss carryforward | $(2,234,570) |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $- | $167,720 |
Long-term Capital Gains | - | 2,084,020 |
Total | $- | $2,251,740 |
$ Amount | % of Net Assets | |
Fidelity Advisor Growth Opportunities Fund | 8,881 | .05 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Growth Opportunities Fund | 7,718,070 | 8,841,663 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Advisor Growth Opportunities Fund | 90 | 9,166 | 10,082 | Class C |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $7,383 | $131 |
Class M | .25% | .25% | 11,333 | 46 |
Class C | .75% | .25% | 8,485 | 954 |
$27,201 | $1,131 |
Retained by FDC | |
Class A | $1,525 |
Class M | 63 |
Class CA | 6 |
$1,594 |
Amount | % of Class-Level Average Net Assets | |
Class A | $4,964 | .17 |
Class M | 3,584 | .16 |
Class C | 1,474 | .17 |
Class I | 11,589 | .17 |
Class Z | 1,032 | .04 |
$22,643 |
% of Class-Level Average Net Assets | |
Class A | 0.1666% |
Class M | 0.1573% |
Class C | 0.1724% |
Class I | 0.1660% |
% of Average Net Assets | |
Fidelity Advisor Growth Opportunities Fund | .01 |
% of Average Net Assets | |
Fidelity Advisor Growth Opportunities Fund | 0.0085% |
Amount | |
Fidelity Advisor Growth Opportunities Fund | $168 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Growth Opportunities Fund | Borrower | $18,601 | 4.75% | $248 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Growth Opportunities Fund | 353,814 | 750,989 | (45,882) |
Amount | |
Fidelity Advisor Growth Opportunities Fund | $27 |
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 Growth Opportunities Fund | $218 | $52 | $- |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Growth Opportunities Fund | ||
Distributions to shareholders | ||
Class A | $- | $383,847 |
Class M | - | 311,608 |
Class C | - | 146,868 |
Class I | - | 1,065,687 |
Class Z | - | 343,730 |
Total | $- | $2,251,740 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Growth Opportunities Fund | ||||
Class A | ||||
Shares sold | 4,751 | 7,278 | $506,438 | $794,992 |
Reinvestment of distributions | - | 2,511 | - | 362,972 |
Shares redeemed | (5,107) | (7,570) | (529,835) | (828,468) |
Net increase (decrease) | (356) | 2,219 | $(23,397) | $329,496 |
Class M | ||||
Shares sold | 1,865 | 2,024 | $195,104 | $223,304 |
Reinvestment of distributions | - | 2,107 | - | 300,595 |
Shares redeemed | (3,069) | (3,818) | (317,685) | (419,272) |
Net increase (decrease) | (1,204) | 313 | $(122,581) | $104,627 |
Class C | ||||
Shares sold | 1,331 | 1,830 | $113,706 | $171,562 |
Reinvestment of distributions | - | 1,177 | - | 138,522 |
Shares redeemed | (2,350) | (3,130) | (197,044) | (280,287) |
Net increase (decrease) | (1,019) | (123) | $(83,338) | $29,797 |
Class I | ||||
Shares sold | 15,365 | 25,262 | $1,790,597 | $3,147,620 |
Reinvestment of distributions | - | 6,084 | - | 970,856 |
Shares redeemed | (22,630) | (39,190) | (2,584,365) | (4,835,461) |
Net increase (decrease) | (7,265) | (7,844) | $(793,768) | $(716,985) |
Class Z | ||||
Shares sold | 6,638 | 10,960 | $785,386 | $1,437,835 |
Reinvestment of distributions | - | 1,870 | - | 301,936 |
Shares redeemed | (7,160) | (12,944) | (829,501) | (1,589,902) |
Net increase (decrease) | (522) | (114) | $(44,115) | $149,869 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Growth Opportunities Fund | ||||||||||
Class A | .72% | |||||||||
Actual | $ 1,000 | $ 1,114.20 | $ 3.82 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.46 | $ 3.65 | |||||||
Class M | .96% | |||||||||
Actual | $ 1,000 | $ 1,112.90 | $ 5.08 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.26 | $ 4.86 | |||||||
Class C | 1.47% | |||||||||
Actual | $ 1,000 | $ 1,110.00 | $ 7.78 | |||||||
Hypothetical-B | $ 1,000 | $ 1,017.70 | $ 7.44 | |||||||
Class I | .47% | |||||||||
Actual | $ 1,000 | $ 1,115.60 | $ 2.49 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.71 | $ 2.38 | |||||||
Class Z | .34% | |||||||||
Actual | $ 1,000 | $ 1,116.30 | $ 1.80 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.36 | $ 1.72 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | 0.85% | 6.77% | 7.57% |
Class M (incl. 3.50% sales charge) | 2.98% | 7.01% | 7.56% |
Class C (incl. contingent deferred sales charge) | 5.19% | 7.20% | 7.54% |
Class I | 7.25% | 8.30% | 8.47% |
Class Z | 7.44% | 8.47% | 8.64% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Dividend Growth Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.2 | |
NVIDIA Corp. | 3.5 | |
UnitedHealth Group, Inc. | 2.8 | |
Visa, Inc. Class A | 2.6 | |
Exxon Mobil Corp. | 1.9 | |
The Boeing Co. | 1.9 | |
Cigna Group | 1.9 | |
Wells Fargo & Co. | 1.8 | |
MasterCard, Inc. Class A | 1.8 | |
Intuit, Inc. | 1.7 | |
29.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 23.2 | |
Financials | 15.0 | |
Industrials | 14.2 | |
Health Care | 12.1 | |
Energy | 9.6 | |
Consumer Staples | 6.7 | |
Utilities | 6.6 | |
Materials | 4.6 | |
Communication Services | 3.1 | |
Real Estate | 1.8 | |
Consumer Discretionary | 1.3 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 98.2% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 3.1% | |||
Diversified Telecommunication Services - 0.4% | |||
Cellnex Telecom SA (a) | 114,200 | 4,360 | |
Interactive Media & Services - 1.8% | |||
Alphabet, Inc. Class A (b) | 72,100 | 9,555 | |
Meta Platforms, Inc. Class A (b) | 33,900 | 11,090 | |
20,645 | |||
Media - 0.9% | |||
Comcast Corp. Class A | 242,750 | 10,169 | |
TOTAL COMMUNICATION SERVICES | 35,174 | ||
CONSUMER DISCRETIONARY - 1.3% | |||
Diversified Consumer Services - 0.2% | |||
H&R Block, Inc. | 36,642 | 1,664 | |
Hotels, Restaurants & Leisure - 0.6% | |||
Churchill Downs, Inc. | 14,700 | 1,702 | |
Domino's Pizza, Inc. | 5,600 | 2,200 | |
Hilton Worldwide Holdings, Inc. | 15,400 | 2,580 | |
Starbucks Corp. | 100 | 10 | |
6,492 | |||
Household Durables - 0.5% | |||
D.R. Horton, Inc. | 8,700 | 1,111 | |
JM AB (B Shares) (c) | 214,400 | 2,990 | |
Lennar Corp. Class A | 15,300 | 1,957 | |
6,058 | |||
TOTAL CONSUMER DISCRETIONARY | 14,214 | ||
CONSUMER STAPLES - 6.7% | |||
Beverages - 1.9% | |||
Constellation Brands, Inc. Class A (sub. vtg.) | 16,400 | 3,944 | |
Keurig Dr. Pepper, Inc. | 435,000 | 13,733 | |
The Coca-Cola Co. | 67,300 | 3,933 | |
21,610 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 103,500 | 5,904 | |
Dollar General Corp. | 17,900 | 2,347 | |
Walmart, Inc. | 35,500 | 5,527 | |
13,778 | |||
Food Products - 0.2% | |||
The J.M. Smucker Co. | 21,500 | 2,359 | |
Household Products - 0.6% | |||
Reynolds Consumer Products, Inc. | 260,461 | 6,834 | |
Personal Care Products - 1.0% | |||
Estee Lauder Companies, Inc. Class A | 20,500 | 2,618 | |
Kenvue, Inc. | 385,200 | 7,873 | |
10,491 | |||
Tobacco - 1.8% | |||
Altria Group, Inc. | 139,773 | 5,876 | |
Philip Morris International, Inc. | 155,000 | 14,471 | |
20,347 | |||
TOTAL CONSUMER STAPLES | 75,419 | ||
ENERGY - 9.6% | |||
Energy Equipment & Services - 3.6% | |||
Borr Drilling Ltd. (b) | 205,300 | 1,304 | |
Borr Drilling Ltd. (b) | 553,100 | 3,485 | |
Noble Corp. PLC | 235,698 | 10,875 | |
Seadrill Ltd. (b) | 231,300 | 10,265 | |
Subsea 7 SA sponsored ADR | 295,700 | 4,066 | |
Tidewater, Inc. (b) | 188,900 | 11,349 | |
41,344 | |||
Oil, Gas & Consumable Fuels - 6.0% | |||
ARC Resources Ltd. (c) | 218,500 | 3,485 | |
Canadian Natural Resources Ltd. | 62,000 | 4,142 | |
Cool Co. Ltd. | 255,200 | 3,028 | |
Energy Transfer LP | 1,010,200 | 14,032 | |
Enterprise Products Partners LP | 332,300 | 8,899 | |
Exxon Mobil Corp. | 206,422 | 21,208 | |
Golar LNG Ltd. | 19,928 | 429 | |
Reliance Industries Ltd. GDR (a) | 94,400 | 5,409 | |
Sitio Royalties Corp. | 274,300 | 6,043 | |
Teekay Tankers Ltd. | 16,439 | 817 | |
67,492 | |||
TOTAL ENERGY | 108,836 | ||
FINANCIALS - 15.0% | |||
Banks - 3.3% | |||
Bank of America Corp. | 531,400 | 16,202 | |
Wells Fargo & Co. | 463,190 | 20,654 | |
36,856 | |||
Capital Markets - 2.8% | |||
Ares Capital Corp. (c) | 139,100 | 2,757 | |
B. Riley Financial, Inc. (c) | 86,700 | 1,595 | |
Brookfield Corp. Class A (c) | 360,400 | 12,711 | |
Intercontinental Exchange, Inc. | 86,500 | 9,847 | |
S&P Global, Inc. | 11,348 | 4,719 | |
31,629 | |||
Financial Services - 6.5% | |||
Apollo Global Management, Inc. | 109,700 | 10,092 | |
Fidelity National Information Services, Inc. | 76,900 | 4,509 | |
Global Payments, Inc. | 81,200 | 9,455 | |
MasterCard, Inc. Class A | 48,700 | 20,154 | |
Visa, Inc. Class A | 113,100 | 29,031 | |
73,241 | |||
Insurance - 2.4% | |||
Arthur J. Gallagher & Co. | 27,900 | 6,947 | |
Chubb Ltd. | 24,500 | 5,621 | |
Fidelity National Financial, Inc. | 37,400 | 1,677 | |
Marsh & McLennan Companies, Inc. | 30,500 | 6,082 | |
The Travelers Companies, Inc. | 38,900 | 7,026 | |
27,353 | |||
TOTAL FINANCIALS | 169,079 | ||
HEALTH CARE - 12.1% | |||
Biotechnology - 0.7% | |||
Gilead Sciences, Inc. | 103,700 | 7,943 | |
Health Care Providers & Services - 7.1% | |||
Cigna Group | 79,700 | 20,952 | |
CVS Health Corp. | 54,900 | 3,730 | |
Elevance Health, Inc. | 20,800 | 9,973 | |
HCA Holdings, Inc. | 21,600 | 5,410 | |
Humana, Inc. | 15,800 | 7,661 | |
UnitedHealth Group, Inc. | 57,497 | 31,794 | |
79,520 | |||
Life Sciences Tools & Services - 1.6% | |||
Danaher Corp. | 40,100 | 8,955 | |
Thermo Fisher Scientific, Inc. | 18,300 | 9,072 | |
18,027 | |||
Pharmaceuticals - 2.7% | |||
Bristol-Myers Squibb Co. | 134,100 | 6,622 | |
Eli Lilly & Co. | 20,200 | 11,939 | |
Novo Nordisk A/S Series B sponsored ADR | 54,000 | 5,499 | |
Roche Holding AG (participation certificate) | 11,570 | 3,113 | |
Royalty Pharma PLC | 123,200 | 3,335 | |
30,508 | |||
TOTAL HEALTH CARE | 135,998 | ||
INDUSTRIALS - 14.2% | |||
Aerospace & Defense - 5.4% | |||
Airbus Group NV | 29,900 | 4,444 | |
General Dynamics Corp. | 9,100 | 2,247 | |
Howmet Aerospace, Inc. | 125,200 | 6,586 | |
L3Harris Technologies, Inc. | 13,600 | 2,595 | |
Lockheed Martin Corp. | 11,600 | 5,194 | |
Northrop Grumman Corp. | 9,000 | 4,276 | |
Spirit AeroSystems Holdings, Inc. Class A (b)(c) | 166,400 | 4,574 | |
Textron, Inc. | 86,000 | 6,593 | |
Thales SA | 21,100 | 3,145 | |
The Boeing Co. (b) | 91,000 | 21,078 | |
60,732 | |||
Commercial Services & Supplies - 0.8% | |||
GFL Environmental, Inc. | 172,800 | 4,959 | |
The Brink's Co. | 44,500 | 3,511 | |
8,470 | |||
Electrical Equipment - 1.7% | |||
nVent Electric PLC | 62,200 | 3,312 | |
Prysmian SpA | 71,300 | 2,742 | |
Vertiv Holdings Co. | 306,400 | 13,377 | |
19,431 | |||
Industrial Conglomerates - 1.6% | |||
General Electric Co. | 104,687 | 12,751 | |
Hitachi Ltd. | 72,300 | 5,016 | |
17,767 | |||
Machinery - 1.3% | |||
Allison Transmission Holdings, Inc. | 284,943 | 15,239 | |
Marine Transportation - 0.3% | |||
2020 Bulkers Ltd. | 215,900 | 2,379 | |
Himalaya Shipping Ltd. | 207,000 | 1,242 | |
3,621 | |||
Professional Services - 2.3% | |||
Equifax, Inc. | 17,500 | 3,810 | |
Genpact Ltd. | 107,200 | 3,641 | |
Leidos Holdings, Inc. | 20,500 | 2,200 | |
Paycom Software, Inc. | 28,800 | 5,232 | |
SS&C Technologies Holdings, Inc. | 205,200 | 11,545 | |
26,428 | |||
Trading Companies & Distributors - 0.8% | |||
United Rentals, Inc. | 7,000 | 3,332 | |
Watsco, Inc. (c) | 13,500 | 5,160 | |
8,492 | |||
TOTAL INDUSTRIALS | 160,180 | ||
INFORMATION TECHNOLOGY - 23.2% | |||
Communications Equipment - 0.4% | |||
Cisco Systems, Inc. | 97,400 | 4,712 | |
Electronic Equipment, Instruments & Components - 0.3% | |||
Jabil, Inc. | 32,800 | 3,782 | |
IT Services - 0.9% | |||
Amdocs Ltd. | 123,700 | 10,362 | |
Semiconductors & Semiconductor Equipment - 9.7% | |||
ASML Holding NV (Netherlands) | 5,200 | 3,544 | |
BE Semiconductor Industries NV | 38,500 | 5,383 | |
Broadcom, Inc. | 15,800 | 14,627 | |
Marvell Technology, Inc. | 265,245 | 14,782 | |
Monolithic Power Systems, Inc. | 4,500 | 2,469 | |
NVIDIA Corp. | 84,300 | 39,427 | |
NXP Semiconductors NV | 37,768 | 7,708 | |
Skyworks Solutions, Inc. | 63,000 | 6,107 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 112,900 | 10,986 | |
Universal Display Corp. | 25,200 | 4,264 | |
109,297 | |||
Software - 10.9% | |||
Intuit, Inc. | 32,200 | 18,401 | |
Microsoft Corp. | 274,700 | 104,088 | |
122,489 | |||
Technology Hardware, Storage & Peripherals - 1.0% | |||
Apple, Inc. | 18,796 | 3,570 | |
Samsung Electronics Co. Ltd. | 144,670 | 8,102 | |
11,672 | |||
TOTAL INFORMATION TECHNOLOGY | 262,314 | ||
MATERIALS - 4.6% | |||
Chemicals - 0.4% | |||
Shin-Etsu Chemical Co. Ltd. | 141,900 | 5,002 | |
Metals & Mining - 3.8% | |||
Agnico Eagle Mines Ltd. (Canada) | 59,600 | 3,200 | |
Arch Resources, Inc. | 59,900 | 9,941 | |
Barrick Gold Corp. | 142,500 | 2,507 | |
First Quantum Minerals Ltd. | 101,900 | 834 | |
Freeport-McMoRan, Inc. | 92,200 | 3,441 | |
Glencore PLC | 858,700 | 4,804 | |
Newmont Corp. | 195,700 | 7,865 | |
Wheaton Precious Metals Corp. | 203,300 | 9,941 | |
42,533 | |||
Paper & Forest Products - 0.4% | |||
Louisiana-Pacific Corp. | 72,600 | 4,428 | |
TOTAL MATERIALS | 51,963 | ||
REAL ESTATE - 1.8% | |||
Equity Real Estate Investment Trusts (REITs) - 1.8% | |||
American Tower Corp. | 23,700 | 4,948 | |
Crown Castle International Corp. | 71,200 | 8,350 | |
Four Corners Property Trust, Inc. | 142,400 | 3,274 | |
NNN (REIT), Inc. | 102,600 | 4,168 | |
20,740 | |||
UTILITIES - 6.6% | |||
Electric Utilities - 4.7% | |||
Constellation Energy Corp. | 65,133 | 7,884 | |
Edison International | 158,500 | 10,618 | |
Exelon Corp. | 168,700 | 6,497 | |
FirstEnergy Corp. | 294,400 | 10,875 | |
NextEra Energy, Inc. | 109,200 | 6,389 | |
Southern Co. | 151,300 | 10,739 | |
53,002 | |||
Gas Utilities - 0.2% | |||
Brookfield Infrastructure Corp. A Shares | 67,900 | 2,109 | |
Independent Power and Renewable Electricity Producers - 1.4% | |||
NextEra Energy Partners LP | 40,200 | 946 | |
The AES Corp. | 220,900 | 3,802 | |
Vistra Corp. | 322,200 | 11,409 | |
16,157 | |||
Multi-Utilities - 0.3% | |||
Dominion Energy, Inc. | 78,700 | 3,568 | |
TOTAL UTILITIES | 74,836 | ||
TOTAL COMMON STOCKS (Cost $908,467) | 1,108,753 | ||
Money Market Funds - 3.5% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (d) | 20,488,164 | 20,492 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 18,976,428 | 18,978 | |
TOTAL MONEY MARKET FUNDS (Cost $39,470) | 39,470 | ||
TOTAL INVESTMENT IN SECURITIES - 101.7% (Cost $947,937) | 1,148,223 |
NET OTHER ASSETS (LIABILITIES) - (1.7)% | (19,057) |
NET ASSETS - 100.0% | 1,129,166 |
(a) | 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 $9,769,000 or 0.9% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 43,415 | 358,731 | 381,654 | 1,086 | - | - | 20,492 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 26,109 | 159,528 | 166,659 | 116 | - | - | 18,978 | 0.1% |
Total | 69,524 | 518,259 | 548,313 | 1,202 | - | - | 39,470 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 35,174 | 30,814 | 4,360 | - |
Consumer Discretionary | 14,214 | 14,214 | - | - |
Consumer Staples | 75,419 | 75,419 | - | - |
Energy | 108,836 | 108,836 | - | - |
Financials | 169,079 | 169,079 | - | - |
Health Care | 135,998 | 132,885 | 3,113 | - |
Industrials | 160,180 | 155,736 | 4,444 | - |
Information Technology | 262,314 | 258,770 | 3,544 | - |
Materials | 51,963 | 42,157 | 9,806 | - |
Real Estate | 20,740 | 20,740 | - | - |
Utilities | 74,836 | 74,836 | - | - |
Money Market Funds | 39,470 | 39,470 | - | - |
Total Investments in Securities: | 1,148,223 | 1,122,956 | 25,267 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $18,380) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $908,467) | $ | 1,108,753 | ||
Fidelity Central Funds (cost $39,470) | 39,470 | |||
Total Investment in Securities (cost $947,937) | $ | 1,148,223 | ||
Foreign currency held at value (cost $74) | 74 | |||
Receivable for investments sold | 1,122 | |||
Receivable for fund shares sold | 544 | |||
Dividends receivable | 2,021 | |||
Distributions receivable from Fidelity Central Funds | 118 | |||
Prepaid expenses | 1 | |||
Total assets | 1,152,103 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,159 | ||
Payable for fund shares redeemed | 808 | |||
Accrued management fee | 478 | |||
Distribution and service plan fees payable | 264 | |||
Other affiliated payables | 185 | |||
Other payables and accrued expenses | 65 | |||
Collateral on securities loaned | 18,978 | |||
Total Liabilities | 22,937 | |||
Net Assets | $ | 1,129,166 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 906,657 | ||
Total accumulated earnings (loss) | 222,509 | |||
Net Assets | $ | 1,129,166 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($466,735 ÷ 25,902 shares)(a) | $ | 18.02 | ||
Maximum offering price per share (100/94.25 of $18.02) | $ | 19.12 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($334,462 ÷ 18,638 shares)(a)(b) | $ | 17.94 | ||
Maximum offering price per share (100/96.50 of $17.94) | $ | 18.59 | ||
Class C : | ||||
Net Asset Value and offering price per share ($39,002 ÷ 2,326 shares)(a) | $ | 16.77 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($256,115 ÷ 13,171 shares) | $ | 19.45 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($32,852 ÷ 1,655 shares) | $ | 19.85 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 21,671 | ||
Income from Fidelity Central Funds (including $116 from security lending) | 1,202 | |||
Total Income | 22,873 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 5,815 | ||
Performance adjustment | (130) | |||
Transfer agent fees | 1,953 | |||
Distribution and service plan fees | 3,170 | |||
Accounting fees | 323 | |||
Custodian fees and expenses | 47 | |||
Independent trustees' fees and expenses | 6 | |||
Registration fees | 88 | |||
Audit | 61 | |||
Legal | 9 | |||
Interest | 5 | |||
Miscellaneous | 6 | |||
Total expenses before reductions | 11,353 | |||
Expense reductions | (69) | |||
Total expenses after reductions | 11,284 | |||
Net Investment income (loss) | 11,589 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 22,772 | |||
Foreign currency transactions | 16 | |||
Total net realized gain (loss) | 22,788 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 40,759 | |||
Assets and liabilities in foreign currencies | 9 | |||
Total change in net unrealized appreciation (depreciation) | 40,768 | |||
Net gain (loss) | 63,556 | |||
Net increase (decrease) in net assets resulting from operations | $ | 75,145 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 11,589 | $ | 12,545 |
Net realized gain (loss) | 22,788 | 89,216 | ||
Change in net unrealized appreciation (depreciation) | 40,768 | (141,333) | ||
Net increase (decrease) in net assets resulting from operations | 75,145 | (39,572) | ||
Distributions to shareholders | (90,573) | (73,614) | ||
Share transactions - net increase (decrease) | 14,086 | 41,161 | ||
Total increase (decrease) in net assets | (1,342) | (72,025) | ||
Net Assets | ||||
Beginning of period | 1,130,508 | 1,202,533 | ||
End of period | $ | 1,129,166 | $ | 1,130,508 |
Fidelity Advisor® Dividend Growth Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 18.40 | $ | 20.29 | $ | 16.20 | $ | 17.06 | $ | 17.97 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .18 | .21 | .14 | .27 | .24 C | |||||
Net realized and unrealized gain (loss) | .95 | (.83) | 4.19 | (.35) | 1.39 | |||||
Total from investment operations | 1.13 | (.62) | 4.33 | (.08) | 1.63 | |||||
Distributions from net investment income | (.20) | (.28) | (.24) | (.25) | (.27) | |||||
Distributions from net realized gain | (1.31) | (.99) | - | (.54) | (2.27) | |||||
Total distributions | (1.51) | (1.27) | (.24) | (.78) D | (2.54) | |||||
Net asset value, end of period | $ | 18.02 | $ | 18.40 | $ | 20.29 | $ | 16.20 | $ | 17.06 |
Total Return E,F | 7.00% | (3.46)% | 27.06% | (.60)% | 12.84% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .99% | .82% | .83% | .81% | .82% | |||||
Expenses net of fee waivers, if any | .99% | .81% | .83% | .81% | .82% | |||||
Expenses net of all reductions | .99% | .81% | .83% | .80% | .81% | |||||
Net investment income (loss) | 1.08% | 1.16% | .73% | 1.84% | 1.53% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 467 | $ | 452 | $ | 477 | $ | 374 | $ | 421 |
Portfolio turnover rate I | 65% | 57% | 54% | 113% | 75% |
Fidelity Advisor® Dividend Growth Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 18.29 | $ | 20.14 | $ | 16.08 | $ | 16.94 | $ | 17.85 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .14 | .17 | .09 | .23 | .20 C | |||||
Net realized and unrealized gain (loss) | .94 | (.83) | 4.17 | (.35) | 1.39 | |||||
Total from investment operations | 1.08 | (.66) | 4.26 | (.12) | 1.59 | |||||
Distributions from net investment income | (.12) | (.20) | (.20) | (.21) | (.23) | |||||
Distributions from net realized gain | (1.31) | (.99) | - | (.54) | (2.27) | |||||
Total distributions | (1.43) | (1.19) | (.20) | (.74) D | (2.50) | |||||
Net asset value, end of period | $ | 17.94 | $ | 18.29 | $ | 20.14 | $ | 16.08 | $ | 16.94 |
Total Return E,F | 6.72% | (3.70)% | 26.77% | (.85)% | 12.59% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.23% | 1.06% | 1.07% | 1.05% | 1.07% | |||||
Expenses net of fee waivers, if any | 1.23% | 1.06% | 1.07% | 1.05% | 1.07% | |||||
Expenses net of all reductions | 1.23% | 1.06% | 1.07% | 1.04% | 1.06% | |||||
Net investment income (loss) | .84% | .92% | .49% | 1.59% | 1.28% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 334 | $ | 341 | $ | 368 | $ | 316 | $ | 376 |
Portfolio turnover rate I | 65% | 57% | 54% | 113% | 75% |
Fidelity Advisor® Dividend Growth Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 17.17 | $ | 18.89 | $ | 15.10 | $ | 15.92 | $ | 16.92 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .05 | .06 | (.01) | .14 | .11 C | |||||
Net realized and unrealized gain (loss) | .87 | (.77) | 3.92 | (.34) | 1.29 | |||||
Total from investment operations | .92 | (.71) | 3.91 | (.20) | 1.40 | |||||
Distributions from net investment income | (.02) | (.05) | (.12) | (.08) | (.14) | |||||
Distributions from net realized gain | (1.31) | (.96) | - | (.54) | (2.27) | |||||
Total distributions | (1.32) D | (1.01) | (.12) | (.62) | (2.40) D | |||||
Net asset value, end of period | $ | 16.77 | $ | 17.17 | $ | 18.89 | $ | 15.10 | $ | 15.92 |
Total Return E,F | 6.17% | (4.18)% | 26.03% | (1.41)% | 11.98% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.78% | 1.60% | 1.62% | 1.61% | 1.62% | |||||
Expenses net of fee waivers, if any | 1.77% | 1.60% | 1.62% | 1.61% | 1.61% | |||||
Expenses net of all reductions | 1.77% | 1.60% | 1.62% | 1.60% | 1.61% | |||||
Net investment income (loss) | .29% | .38% | (.06)% | 1.04% | .73% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 39 | $ | 45 | $ | 53 | $ | 56 | $ | 71 |
Portfolio turnover rate I | 65% | 57% | 54% | 113% | 75% |
Fidelity Advisor® Dividend Growth Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 19.76 | $ | 21.72 | $ | 17.32 | $ | 18.18 | $ | 18.97 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .24 | .27 | .20 | .32 | .29 C | |||||
Net realized and unrealized gain (loss) | 1.02 | (.89) | 4.48 | (.36) | 1.50 | |||||
Total from investment operations | 1.26 | (.62) | 4.68 | (.04) | 1.79 | |||||
Distributions from net investment income | (.26) | (.35) | (.28) | (.28) | (.31) | |||||
Distributions from net realized gain | (1.31) | (.99) | - | (.54) | (2.27) | |||||
Total distributions | (1.57) | (1.34) | (.28) | (.82) | (2.58) | |||||
Net asset value, end of period | $ | 19.45 | $ | 19.76 | $ | 21.72 | $ | 17.32 | $ | 18.18 |
Total Return D | 7.25% | (3.23)% | 27.37% | (.36)% | 13.13% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .76% | .59% | .60% | .57% | .58% | |||||
Expenses net of fee waivers, if any | .75% | .58% | .60% | .57% | .58% | |||||
Expenses net of all reductions | .75% | .58% | .60% | .56% | .57% | |||||
Net investment income (loss) | 1.31% | 1.39% | .96% | 2.08% | 1.77% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 256 | $ | 239 | $ | 245 | $ | 180 | $ | 173 |
Portfolio turnover rate G | 65% | 57% | 54% | 113% | 75% |
Fidelity Advisor® Dividend Growth Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 20.15 | $ | 22.15 | $ | 17.65 | $ | 18.51 | $ | 19.28 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .27 | .31 | .23 | .35 | .32 C | |||||
Net realized and unrealized gain (loss) | 1.05 | (.91) | 4.57 | (.37) | 1.52 | |||||
Total from investment operations | 1.32 | (.60) | 4.80 | (.02) | 1.84 | |||||
Distributions from net investment income | (.31) | (.41) | (.30) | (.31) | (.34) | |||||
Distributions from net realized gain | (1.31) | (.99) | - | (.54) | (2.27) | |||||
Total distributions | (1.62) | (1.40) | (.30) | (.84) D | (2.61) | |||||
Net asset value, end of period | $ | 19.85 | $ | 20.15 | $ | 22.15 | $ | 17.65 | $ | 18.51 |
Total Return E | 7.44% | (3.10)% | 27.61% | (.22)% | 13.25% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .60% | .43% | .45% | .41% | .43% | |||||
Expenses net of fee waivers, if any | .60% | .43% | .44% | .41% | .43% | |||||
Expenses net of all reductions | .60% | .43% | .44% | .40% | .42% | |||||
Net investment income (loss) | 1.47% | 1.55% | 1.12% | 2.23% | 1.92% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 33 | $ | 53 | $ | 60 | $ | 55 | $ | 13 |
Portfolio turnover rate H | 65% | 57% | 54% | 113% | 75% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $239,360 |
Gross unrealized depreciation | (42,206) |
Net unrealized appreciation (depreciation) | $197,154 |
Tax Cost | $951,069 |
Undistributed ordinary income | $5,225 |
Undistributed long-term capital gain | $22,360 |
Net unrealized appreciation (depreciation) on securities and other investments | $194,923 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $11,401 | $33,582 |
Long-term Capital Gains | 79,172 | 40,032 |
Total | $90,573 | $73,614 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Dividend Growth Fund | 704,409 | 736,057 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $1,113 | $14 |
Class M | .25% | .25% | 1,645 | 5 |
Class C | .75% | .25% | 412 | 39 |
$3,170 | $58 |
Retained by FDC | |
Class A | $104 |
Class M | 8 |
Class CA | 1 |
$113 |
Amount | % of Class-Level Average Net Assets | |
Class A | $799 | .18 |
Class M | 561 | .17 |
Class C | 89 | .22 |
Class I | 485 | .20 |
Class Z | 19 | .04 |
$1,953 |
% of Class-Level Average Net Assets | |
Class A | 0.1774% |
Class M | 0.1687% |
Class C | 0.2000% |
Class I | 0.1905% |
% of Average Net Assets | |
Fidelity Advisor Dividend Growth Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Dividend Growth Fund | 0.0290% |
Amount | |
Fidelity Advisor Dividend Growth Fund | $14 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Dividend Growth Fund | Borrower | $16,256 | 5.07% | $5 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Dividend Growth Fund | 50,607 | 40,697 | (983) |
Amount ($) | |
Fidelity Advisor Dividend Growth Fund | 4 |
Amount | |
Fidelity Advisor Dividend Growth Fund | $2 |
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 Dividend Growth Fund | $13 | $1 | $190 |
Expense reduction | |
Class M | $2 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Dividend Growth Fund | ||
Distributions to shareholders | ||
Class A | $37,337 | $30,177 |
Class M | 26,509 | 21,723 |
Class C | 3,463 | 2,797 |
Class I | 19,107 | 15,231 |
Class Z | 4,157 | 3,686 |
Total | $90,573 | $73,614 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Dividend Growth Fund | ||||
Class A | ||||
Shares sold | 2,879 | 2,949 | $49,306 | $54,415 |
Reinvestment of distributions | 2,153 | 1,428 | 35,223 | 28,351 |
Shares redeemed | (3,708) | (3,325) | (63,035) | (60,441) |
Net increase (decrease) | 1,324 | 1,052 | $21,494 | $22,325 |
Class M | ||||
Shares sold | 1,830 | 2,522 | $30,986 | $46,215 |
Reinvestment of distributions | 1,607 | 1,082 | 26,169 | 21,418 |
Shares redeemed | (3,467) | (3,192) | (58,984) | (57,906) |
Net increase (decrease) | (30) | 412 | $(1,829) | $9,727 |
Class C | ||||
Shares sold | 352 | 549 | $5,560 | $9,531 |
Reinvestment of distributions | 226 | 148 | 3,437 | 2,774 |
Shares redeemed | (862) | (877) | (13,658) | (14,974) |
Net increase (decrease) | (284) | (180) | $(4,661) | $(2,669) |
Class I | ||||
Shares sold | 4,019 | 3,084 | $71,380 | $60,164 |
Reinvestment of distributions | 1,059 | 699 | 18,689 | 14,853 |
Shares redeemed | (3,987) | (2,971) | (72,187) | (59,219) |
Net increase (decrease) | 1,091 | 812 | $17,882 | $15,798 |
Class Z | ||||
Shares sold | 2,839 | 2,158 | $51,643 | $42,043 |
Reinvestment of distributions | 210 | 157 | 3,771 | 3,397 |
Shares redeemed | (4,044) | (2,387) | (74,214) | (49,460) |
Net increase (decrease) | (995) | (72) | $(18,800) | $(4,020) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Dividend Growth Fund | ||||||||||
Class A | 1.06% | |||||||||
Actual | $ 1,000 | $ 1,097.00 | $ 5.57 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.75 | $ 5.37 | |||||||
Class M | 1.30% | |||||||||
Actual | $ 1,000 | $ 1,095.40 | $ 6.83 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.55 | $ 6.58 | |||||||
Class C | 1.86% | |||||||||
Actual | $ 1,000 | $ 1,092.70 | $ 9.76 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.74 | $ 9.40 | |||||||
Class I | .83% | |||||||||
Actual | $ 1,000 | $ 1,098.90 | $ 4.37 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.91 | $ 4.20 | |||||||
Class Z | .75% | |||||||||
Actual | $ 1,000 | $ 1,099.40 | $ 3.95 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.31 | $ 3.80 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | -3.54% | 6.90% | 6.79% |
Class M (incl. 3.50% sales charge) | -1.46% | 7.15% | 6.79% |
Class C (incl. contingent deferred sales charge) | 0.60% | 7.33% | 6.76% |
Class I | 2.60% | 8.44% | 7.70% |
Class Z | 2.75% | 8.60% | 7.85% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Equity Income Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Value Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Exxon Mobil Corp. | 3.3 | |
Johnson & Johnson | 3.0 | |
Wells Fargo & Co. | 2.7 | |
Comcast Corp. Class A | 2.5 | |
Merck & Co., Inc. | 2.3 | |
Verizon Communications, Inc. | 2.1 | |
U.S. Bancorp | 2.0 | |
Unilever PLC sponsored ADR | 2.0 | |
Cisco Systems, Inc. | 1.9 | |
Shell PLC ADR | 1.8 | |
23.6 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 21.1 | |
Health Care | 15.6 | |
Consumer Staples | 10.5 | |
Information Technology | 9.2 | |
Utilities | 9.0 | |
Industrials | 8.1 | |
Energy | 7.7 | |
Communication Services | 5.5 | |
Consumer Discretionary | 3.9 | |
Real Estate | 3.8 | |
Materials | 3.4 | |
Asset Allocation (% of Fund's net assets) |
Written Options - (0.0)% |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 97.8% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 5.5% | |||
Diversified Telecommunication Services - 2.1% | |||
Verizon Communications, Inc. | 971,090 | 37,222 | |
Media - 3.4% | |||
Comcast Corp. Class A (a) | 1,090,000 | 45,660 | |
Omnicom Group, Inc. | 127,800 | 10,305 | |
WPP PLC | 588,900 | 5,264 | |
61,229 | |||
TOTAL COMMUNICATION SERVICES | 98,451 | ||
CONSUMER DISCRETIONARY - 3.9% | |||
Automobile Components - 0.5% | |||
Lear Corp. | 72,400 | 9,684 | |
Broadline Retail - 0.6% | |||
eBay, Inc. | 261,200 | 10,712 | |
Household Durables - 0.4% | |||
Whirlpool Corp. (b) | 73,800 | 8,037 | |
Specialty Retail - 1.3% | |||
Lowe's Companies, Inc. | 71,700 | 14,256 | |
Williams-Sonoma, Inc. | 49,300 | 9,246 | |
23,502 | |||
Textiles, Apparel & Luxury Goods - 1.1% | |||
Tapestry, Inc. | 607,100 | 19,227 | |
TOTAL CONSUMER DISCRETIONARY | 71,162 | ||
CONSUMER STAPLES - 10.5% | |||
Beverages - 4.1% | |||
Anheuser-Busch InBev SA NV ADR (b) | 115,000 | 7,237 | |
Carlsberg A/S Series B | 51,000 | 6,327 | |
Coca-Cola European Partners PLC | 335,700 | 20,357 | |
Keurig Dr. Pepper, Inc. | 674,200 | 21,284 | |
The Coca-Cola Co. | 304,800 | 17,813 | |
73,018 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Sysco Corp. | 204,400 | 14,752 | |
Food Products - 0.4% | |||
Tyson Foods, Inc. Class A | 166,700 | 7,808 | |
Household Products - 1.7% | |||
Reckitt Benckiser Group PLC | 254,900 | 17,401 | |
Reynolds Consumer Products, Inc. | 507,400 | 13,314 | |
30,715 | |||
Personal Care Products - 3.5% | |||
Kenvue, Inc. | 1,342,905 | 27,449 | |
Unilever PLC sponsored ADR | 754,100 | 35,971 | |
63,420 | |||
TOTAL CONSUMER STAPLES | 189,713 | ||
ENERGY - 7.7% | |||
Oil, Gas & Consumable Fuels - 7.7% | |||
Enterprise Products Partners LP | 925,000 | 24,772 | |
Exxon Mobil Corp. | 578,500 | 59,431 | |
Shell PLC ADR | 490,300 | 32,262 | |
TotalEnergies SE | 342,900 | 23,372 | |
139,837 | |||
FINANCIALS - 21.1% | |||
Banks - 11.1% | |||
Bank of America Corp. | 924,800 | 28,197 | |
Cullen/Frost Bankers, Inc. | 86,500 | 8,502 | |
East West Bancorp, Inc. | 166,300 | 10,464 | |
Huntington Bancshares, Inc. | 1,001,200 | 11,274 | |
M&T Bank Corp. | 245,900 | 31,517 | |
PNC Financial Services Group, Inc. | 189,000 | 25,318 | |
U.S. Bancorp | 948,400 | 36,153 | |
Wells Fargo & Co. | 1,095,750 | 48,859 | |
200,284 | |||
Capital Markets - 1.9% | |||
Bank of New York Mellon Corp. | 371,800 | 17,965 | |
CME Group, Inc. (a) | 41,200 | 8,996 | |
LPL Financial | 33,400 | 7,425 | |
34,386 | |||
Financial Services - 3.5% | |||
Fidelity National Information Services, Inc. | 273,500 | 16,038 | |
Global Payments, Inc. | 250,100 | 29,122 | |
Visa, Inc. Class A (a) | 69,200 | 17,762 | |
62,922 | |||
Insurance - 4.6% | |||
AXA SA | 574,500 | 17,913 | |
Chubb Ltd. | 137,184 | 31,474 | |
First American Financial Corp. | 122,200 | 7,283 | |
The Travelers Companies, Inc. | 146,800 | 26,515 | |
83,185 | |||
TOTAL FINANCIALS | 380,777 | ||
HEALTH CARE - 15.6% | |||
Health Care Equipment & Supplies - 0.6% | |||
Baxter International, Inc. | 290,100 | 10,467 | |
Health Care Providers & Services - 3.9% | |||
Cigna Group | 81,100 | 21,320 | |
Elevance Health, Inc. | 64,800 | 31,071 | |
UnitedHealth Group, Inc. | 31,900 | 17,640 | |
70,031 | |||
Pharmaceuticals - 11.1% | |||
Bristol-Myers Squibb Co. | 625,200 | 30,872 | |
GSK PLC sponsored ADR | 428,600 | 15,425 | |
Johnson & Johnson | 355,071 | 54,915 | |
Merck & Co., Inc. | 401,400 | 41,135 | |
Organon & Co. | 551,830 | 6,247 | |
Roche Holding AG (participation certificate) | 79,440 | 21,371 | |
Royalty Pharma PLC | 500,400 | 13,546 | |
Sanofi SA sponsored ADR | 388,900 | 18,181 | |
201,692 | |||
TOTAL HEALTH CARE | 282,190 | ||
INDUSTRIALS - 8.1% | |||
Aerospace & Defense - 1.7% | |||
General Dynamics Corp. | 102,500 | 25,314 | |
Lockheed Martin Corp. | 12,100 | 5,418 | |
30,732 | |||
Building Products - 0.4% | |||
Owens Corning | 56,700 | 7,687 | |
Electrical Equipment - 1.2% | |||
Regal Rexnord Corp. | 187,700 | 22,486 | |
Industrial Conglomerates - 1.0% | |||
3M Co. | 94,900 | 9,402 | |
Hitachi Ltd. | 119,500 | 8,290 | |
17,692 | |||
Machinery - 1.6% | |||
Allison Transmission Holdings, Inc. | 219,700 | 11,750 | |
Parker Hannifin Corp. | 38,000 | 16,461 | |
28,211 | |||
Professional Services - 2.2% | |||
Genpact Ltd. | 415,100 | 14,097 | |
Science Applications International Corp. | 39,400 | 4,626 | |
SS&C Technologies Holdings, Inc. | 372,900 | 20,979 | |
39,702 | |||
TOTAL INDUSTRIALS | 146,510 | ||
INFORMATION TECHNOLOGY - 9.2% | |||
Communications Equipment - 1.9% | |||
Cisco Systems, Inc. | 710,553 | 34,377 | |
IT Services - 2.7% | |||
Amdocs Ltd. | 268,622 | 22,502 | |
Capgemini SA | 129,700 | 26,542 | |
49,044 | |||
Semiconductors & Semiconductor Equipment - 2.8% | |||
Microchip Technology, Inc. | 350,250 | 29,225 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 226,000 | 21,992 | |
51,217 | |||
Software - 1.8% | |||
Gen Digital, Inc. | 566,800 | 12,515 | |
Microsoft Corp. (a) | 51,200 | 19,400 | |
31,915 | |||
TOTAL INFORMATION TECHNOLOGY | 166,553 | ||
MATERIALS - 3.4% | |||
Chemicals - 1.2% | |||
Celanese Corp. Class A | 66,800 | 9,262 | |
CF Industries Holdings, Inc. | 62,700 | 4,712 | |
Olin Corp. | 119,600 | 5,638 | |
The Chemours Co. LLC | 99,400 | 2,727 | |
22,339 | |||
Containers & Packaging - 2.2% | |||
Berry Global Group, Inc. | 171,800 | 11,359 | |
Crown Holdings, Inc. | 138,700 | 11,930 | |
Silgan Holdings, Inc. | 151,100 | 6,304 | |
Sonoco Products Co. | 181,500 | 10,012 | |
39,605 | |||
TOTAL MATERIALS | 61,944 | ||
REAL ESTATE - 3.8% | |||
Equity Real Estate Investment Trusts (REITs) - 3.8% | |||
Alexandria Real Estate Equities, Inc. | 52,500 | 5,744 | |
American Tower Corp. | 53,800 | 11,232 | |
COPT Defense Properties (SBI) | 463,100 | 11,207 | |
Crown Castle International Corp. | 175,400 | 20,571 | |
Essex Property Trust, Inc. | 28,300 | 6,041 | |
Gaming & Leisure Properties | 94,000 | 4,393 | |
Public Storage | 35,400 | 9,160 | |
68,348 | |||
UTILITIES - 9.0% | |||
Electric Utilities - 6.4% | |||
American Electric Power Co., Inc. | 91,300 | 7,263 | |
Duke Energy Corp. | 344,500 | 31,790 | |
Edison International | 332,064 | 22,245 | |
Eversource Energy | 161,400 | 9,589 | |
Exelon Corp. | 338,000 | 13,016 | |
FirstEnergy Corp. | 629,500 | 23,254 | |
PPL Corp. | 345,700 | 9,030 | |
116,187 | |||
Independent Power and Renewable Electricity Producers - 0.4% | |||
Vistra Corp. | 201,400 | 7,132 | |
Multi-Utilities - 2.2% | |||
CMS Energy Corp. | 177,200 | 10,058 | |
Sempra | 392,600 | 28,609 | |
38,667 | |||
TOTAL UTILITIES | 161,986 | ||
TOTAL COMMON STOCKS (Cost $1,592,016) | 1,767,471 | ||
Money Market Funds - 2.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (c) | 32,013,731 | 32,020 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 7,823,942 | 7,825 | |
TOTAL MONEY MARKET FUNDS (Cost $39,845) | 39,845 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $1,631,861) | 1,807,316 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (313) |
NET ASSETS - 100.0% | 1,807,003 |
Written Options | ||||||
Counterparty | Number of Contracts | Notional Amount ($) (000s) | Exercise Price ($) | Expiration Date | Value ($) (000s) | |
Call Options | ||||||
CME Group, Inc. Class A | Chicago Board Options Exchange | 97 | 2,118 | 230.00 | 12/15/23 | (3) |
Comcast Corp. Class A | Chicago Board Options Exchange | 2,704 | 11,327 | 50.00 | 01/19/24 | (11) |
Microsoft Corp. | Chicago Board Options Exchange | 120 | 4,547 | 360.00 | 12/15/23 | (240) |
Visa, Inc. Class A | Chicago Board Options Exchange | 118 | 3,029 | 260.00 | 12/15/23 | (19) |
TOTAL WRITTEN OPTIONS | (273) |
(a) | Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $21,021,000. |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 71,467 | 271,851 | 311,298 | 2,759 | - | - | 32,020 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 30,796 | 399,429 | 422,400 | 390 | - | - | 7,825 | 0.0% |
Total | 102,263 | 671,280 | 733,698 | 3,149 | - | - | 39,845 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 98,451 | 93,187 | 5,264 | - |
Consumer Discretionary | 71,162 | 71,162 | - | - |
Consumer Staples | 189,713 | 165,985 | 23,728 | - |
Energy | 139,837 | 116,465 | 23,372 | - |
Financials | 380,777 | 362,864 | 17,913 | - |
Health Care | 282,190 | 260,819 | 21,371 | - |
Industrials | 146,510 | 146,510 | - | - |
Information Technology | 166,553 | 166,553 | - | - |
Materials | 61,944 | 61,944 | - | - |
Real Estate | 68,348 | 68,348 | - | - |
Utilities | 161,986 | 161,986 | - | - |
Money Market Funds | 39,845 | 39,845 | - | - |
Total Investments in Securities: | 1,807,316 | 1,715,668 | 91,648 | - |
Derivative Instruments: Liabilities | ||||
Written Options | (273) | (273) | - | - |
Total Liabilities | (273) | (273) | - | - |
Total Derivative Instruments: | (273) | (273) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
(Amounts in thousands) | Asset ($) | Liability ($) |
Equity Risk | ||
Written Options (a) | 0 | (273) |
Total Equity Risk | 0 | (273) |
Total Value of Derivatives | 0 | (273) |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $7,688) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,592,016) | $ | 1,767,471 | ||
Fidelity Central Funds (cost $39,845) | 39,845 | |||
Total Investment in Securities (cost $1,631,861) | $ | 1,807,316 | ||
Receivable for investments sold | 9,418 | |||
Receivable for fund shares sold | 806 | |||
Dividends receivable | 5,950 | |||
Distributions receivable from Fidelity Central Funds | 141 | |||
Prepaid expenses | 2 | |||
Other receivables | 23 | |||
Total assets | 1,823,656 | |||
Liabilities | ||||
Payable for investments purchased | $ | 6,284 | ||
Payable for fund shares redeemed | 893 | |||
Accrued management fee | 622 | |||
Distribution and service plan fees payable | 402 | |||
Written options, at value (premium received $251) | 273 | |||
Other affiliated payables | 280 | |||
Other payables and accrued expenses | 75 | |||
Collateral on securities loaned | 7,824 | |||
Total Liabilities | 16,653 | |||
Net Assets | $ | 1,807,003 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,575,002 | ||
Total accumulated earnings (loss) | 232,001 | |||
Net Assets | $ | 1,807,003 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($721,260 ÷ 23,552 shares)(a) | $ | 30.62 | ||
Maximum offering price per share (100/94.25 of $30.62) | $ | 32.49 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($524,459 ÷ 16,531 shares)(a)(b) | $ | 31.72 | ||
Maximum offering price per share (100/96.50 of $31.72) | $ | 32.87 | ||
Class C : | ||||
Net Asset Value and offering price per share ($50,681 ÷ 1,629 shares)(a) | $ | 31.11 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($367,712 ÷ 11,207 shares) | $ | 32.81 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($142,891 ÷ 4,361 shares)(b) | $ | 32.76 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. | ||||
(b)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 54,835 | ||
Interest | 3 | |||
Income from Fidelity Central Funds (including $390 from security lending) | 3,149 | |||
Total Income | 57,987 | |||
Expenses | ||||
Management fee | $ | 7,723 | ||
Transfer agent fees | 3,020 | |||
Distribution and service plan fees | 5,122 | |||
Accounting fees | 494 | |||
Custodian fees and expenses | 50 | |||
Independent trustees' fees and expenses | 11 | |||
Registration fees | 100 | |||
Audit | 91 | |||
Legal | 9 | |||
Miscellaneous | 10 | |||
Total expenses before reductions | 16,630 | |||
Expense reductions | (116) | |||
Total expenses after reductions | 16,514 | |||
Net Investment income (loss) | 41,473 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 47,471 | |||
Foreign currency transactions | 18 | |||
Written options | 471 | |||
Total net realized gain (loss) | 47,960 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (47,642) | |||
Assets and liabilities in foreign currencies | 9 | |||
Written options | (22) | |||
Total change in net unrealized appreciation (depreciation) | (47,655) | |||
Net gain (loss) | 305 | |||
Net increase (decrease) in net assets resulting from operations | $ | 41,778 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 41,473 | $ | 33,309 |
Net realized gain (loss) | 47,960 | 72,413 | ||
Change in net unrealized appreciation (depreciation) | (47,655) | 41,446 | ||
Net increase (decrease) in net assets resulting from operations | 41,778 | 147,168 | ||
Distributions to shareholders | (103,407) | (167,060) | ||
Share transactions - net increase (decrease) | 11,415 | 316,498 | ||
Total increase (decrease) in net assets | (50,214) | 296,606 | ||
Net Assets | ||||
Beginning of period | 1,857,217 | 1,560,611 | ||
End of period | $ | 1,807,003 | $ | 1,857,217 |
Fidelity Advisor® Equity Income Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 31.78 | $ | 32.34 | $ | 27.88 | $ | 30.22 | $ | 31.53 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .69 | .61 | .58 | .65 | .67 | |||||
Net realized and unrealized gain (loss) | (.04) | 2.32 | 4.53 | (.67) | 2.08 | |||||
Total from investment operations | .65 | 2.93 | 5.11 | (.02) | 2.75 | |||||
Distributions from net investment income | (.64) | (.58) | (.65) | (.66) | (.65) | |||||
Distributions from net realized gain | (1.17) | (2.91) | - C | (1.67) | (3.41) | |||||
Total distributions | (1.81) | (3.49) | (.65) | (2.32) D | (4.06) | |||||
Net asset value, end of period | $ | 30.62 | $ | 31.78 | $ | 32.34 | $ | 27.88 | $ | 30.22 |
Total Return E,F | 2.34% | 9.34% | 18.46% | .02% | 11.73% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .89% | .89% | .90% | .92% | .93% | |||||
Expenses net of fee waivers, if any | .89% | .89% | .89% | .92% | .92% | |||||
Expenses net of all reductions | .89% | .89% | .89% | .92% | .92% | |||||
Net investment income (loss) | 2.30% | 1.98% | 1.80% | 2.51% | 2.37% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 721 | $ | 741 | $ | 675 | $ | 591 | $ | 660 |
Portfolio turnover rate I | 47% | 47% | 48% | 65% | 48% |
Fidelity Advisor® Equity Income Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 32.84 | $ | 33.30 | $ | 28.69 | $ | 31.02 | $ | 32.24 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .64 | .56 | .52 | .60 | .62 | |||||
Net realized and unrealized gain (loss) | (.03) | 2.38 | 4.66 | (.68) | 2.15 | |||||
Total from investment operations | .61 | 2.94 | 5.18 | (.08) | 2.77 | |||||
Distributions from net investment income | (.56) | (.49) | (.57) | (.59) | (.58) | |||||
Distributions from net realized gain | (1.17) | (2.91) | - C | (1.67) | (3.41) | |||||
Total distributions | (1.73) | (3.40) | (.57) | (2.25) D | (3.99) | |||||
Net asset value, end of period | $ | 31.72 | $ | 32.84 | $ | 33.30 | $ | 28.69 | $ | 31.02 |
Total Return E,F | 2.12% | 9.08% | 18.16% | (.22)% | 11.46% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.13% | 1.13% | 1.14% | 1.16% | 1.16% | |||||
Expenses net of fee waivers, if any | 1.13% | 1.13% | 1.13% | 1.16% | 1.16% | |||||
Expenses net of all reductions | 1.13% | 1.13% | 1.13% | 1.15% | 1.16% | |||||
Net investment income (loss) | 2.06% | 1.74% | 1.56% | 2.28% | 2.14% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 524 | $ | 571 | $ | 555 | $ | 534 | $ | 642 |
Portfolio turnover rate I | 47% | 47% | 48% | 65% | 48% |
Fidelity Advisor® Equity Income Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 32.23 | $ | 32.75 | $ | 28.21 | $ | 30.52 | $ | 31.73 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .46 | .37 | .32 | .45 | .45 | |||||
Net realized and unrealized gain (loss) | (.02) | 2.35 | 4.60 | (.66) | 2.12 | |||||
Total from investment operations | .44 | 2.72 | 4.92 | (.21) | 2.57 | |||||
Distributions from net investment income | (.39) | (.32) | (.37) | (.43) | (.37) | |||||
Distributions from net realized gain | (1.17) | (2.91) | - C | (1.67) | (3.41) | |||||
Total distributions | (1.56) | (3.24) D | (.38) D | (2.10) | (3.78) | |||||
Net asset value, end of period | $ | 31.11 | $ | 32.23 | $ | 32.75 | $ | 28.21 | $ | 30.52 |
Total Return E,F | 1.57% | 8.46% | 17.51% | (.77)% | 10.86% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.68% | 1.68% | 1.70% | 1.72% | 1.72% | |||||
Expenses net of fee waivers, if any | 1.67% | 1.68% | 1.69% | 1.72% | 1.71% | |||||
Expenses net of all reductions | 1.67% | 1.68% | 1.69% | 1.72% | 1.71% | |||||
Net investment income (loss) | 1.52% | 1.19% | 1.00% | 1.71% | 1.58% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 51 | $ | 68 | $ | 52 | $ | 63 | $ | 84 |
Portfolio turnover rate I | 47% | 47% | 48% | 65% | 48% |
Fidelity Advisor® Equity Income Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.91 | $ | 34.28 | $ | 29.51 | $ | 31.85 | $ | 32.99 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .82 | .73 | .70 | .75 | .78 | |||||
Net realized and unrealized gain (loss) | (.04) | 2.47 | 4.80 | (.70) | 2.21 | |||||
Total from investment operations | .78 | 3.20 | 5.50 | .05 | 2.99 | |||||
Distributions from net investment income | (.71) | (.65) | (.73) | (.72) | (.72) | |||||
Distributions from net realized gain | (1.17) | (2.91) | - C | (1.67) | (3.41) | |||||
Total distributions | (1.88) | (3.57) D | (.73) | (2.39) | (4.13) | |||||
Net asset value, end of period | $ | 32.81 | $ | 33.91 | $ | 34.28 | $ | 29.51 | $ | 31.85 |
Total Return E | 2.60% | 9.62% | 18.75% | .27% | 12.00% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .65% | .65% | .65% | .67% | .67% | |||||
Expenses net of fee waivers, if any | .65% | .65% | .65% | .67% | .67% | |||||
Expenses net of all reductions | .64% | .65% | .65% | .66% | .67% | |||||
Net investment income (loss) | 2.54% | 2.22% | 2.05% | 2.77% | 2.63% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 368 | $ | 359 | $ | 244 | $ | 178 | $ | 227 |
Portfolio turnover rate H | 47% | 47% | 48% | 65% | 48% |
Fidelity Advisor® Equity Income Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 33.86 | $ | 34.24 | $ | 29.48 | $ | 31.82 | $ | 32.96 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .86 | .77 | .75 | .79 | .82 | |||||
Net realized and unrealized gain (loss) | (.03) | 2.46 | 4.78 | (.70) | 2.21 | |||||
Total from investment operations | .83 | 3.23 | 5.53 | .09 | 3.03 | |||||
Distributions from net investment income | (.76) | (.70) | (.77) | (.76) | (.77) | |||||
Distributions from net realized gain | (1.17) | (2.91) | - C | (1.67) | (3.41) | |||||
Total distributions | (1.93) | (3.61) | (.77) | (2.43) | (4.17) D | |||||
Net asset value, end of period | $ | 32.76 | $ | 33.86 | $ | 34.24 | $ | 29.48 | $ | 31.82 |
Total Return E | 2.75% | 9.77% | 18.89% | .43% | 12.18% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .51% | .51% | .51% | .53% | .53% | |||||
Expenses net of fee waivers, if any | .50% | .51% | .51% | .52% | .53% | |||||
Expenses net of all reductions | .50% | .51% | .51% | .52% | .52% | |||||
Net investment income (loss) | 2.69% | 2.36% | 2.18% | 2.91% | 2.77% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 143 | $ | 117 | $ | 35 | $ | 26 | $ | 27 |
Portfolio turnover rate H | 47% | 47% | 48% | 65% | 48% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Advisor Equity Income Fund | $23 |
Gross unrealized appreciation | $259,610 |
Gross unrealized depreciation | (76,106) |
Net unrealized appreciation (depreciation) | $183,504 |
Tax Cost | $1,623,539 |
Undistributed ordinary income | $24,405 |
Undistributed long-term capital gain | $31,531 |
Net unrealized appreciation (depreciation) on securities and other investments | $176,065 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $36,549 | $62,201 |
Long-term Capital Gains | 66,858 | 104,859 |
Total | $103,407 | $167,060 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Advisor Equity Income Fund | 836,623 | 848,549 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $1,814 | $29 |
Class M | .25% | .25% | 2,706 | 10 |
Class C | .75% | .25% | 602 | 88 |
$5,122 | $127 |
Retained by FDC | |
Class A | $113 |
Class M | 12 |
Class CA | 3 |
$128 |
Amount | % of Class-Level Average Net Assets | |
Class A | $1,271 | .18 |
Class M | 897 | .17 |
Class C | 127 | .21 |
Class I | 671 | .18 |
Class Z | 54 | .04 |
$3,020 |
% of Class-Level Average Net Assets | |
Class A | 0.1733% |
Class M | 0.1645% |
Class C | 0.2000% |
Class I | 0.1823% |
% of Average Net Assets | |
Fidelity Advisor Equity Income Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Equity Income Fund | 0.0270% |
Amount | |
Fidelity Advisor Equity Income Fund | $20 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Equity Income Fund | 88,153 | 56,591 | 9,448 |
Amount | |
Fidelity Advisor Equity Income Fund | $3 |
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 Equity Income Fund | $38 | $24 | $- |
Expense reduction | |
Class M | $1 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Income Fund | ||
Distributions to shareholders | ||
Class A | $42,683 | $73,516 |
Class M | 29,792 | 56,803 |
Class C | 3,243 | 5,145 |
Class I | 20,598 | 26,327 |
Class Z | 7,091 | 5,269 |
Total | $103,407 | $167,060 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Equity Income Fund | ||||
Class A | ||||
Shares sold | 2,279 | 3,323 | $68,819 | $103,218 |
Reinvestment of distributions | 1,379 | 2,230 | 40,735 | 69,823 |
Shares redeemed | (3,435) | (3,106) | (103,441) | (96,136) |
Net increase (decrease) | 223 | 2,447 | $6,113 | $76,905 |
Class M | ||||
Shares sold | 1,149 | 1,876 | $35,935 | $60,326 |
Reinvestment of distributions | 955 | 1,720 | 29,202 | 55,712 |
Shares redeemed | (2,966) | (2,857) | (92,623) | (91,349) |
Net increase (decrease) | (862) | 739 | $(27,486) | $24,689 |
Class C | ||||
Shares sold | 318 | 990 | $9,791 | $31,165 |
Reinvestment of distributions | 107 | 159 | 3,202 | 5,070 |
Shares redeemed | (919) | (608) | (28,147) | (19,033) |
Net increase (decrease) | (494) | 541 | $(15,154) | $17,202 |
Class I | ||||
Shares sold | 2,502 | 4,297 | $80,562 | $141,287 |
Reinvestment of distributions | 615 | 735 | 19,428 | 24,455 |
Shares redeemed | (2,500) | (1,562) | (80,714) | (51,041) |
Net increase (decrease) | 617 | 3,470 | $19,276 | $114,701 |
Class Z | ||||
Shares sold | 2,114 | 3,004 | $67,614 | $101,219 |
Reinvestment of distributions | 201 | 149 | 6,342 | 4,916 |
Shares redeemed | (1,415) | (710) | (45,290) | (23,134) |
Net increase (decrease) | 900 | 2,443 | $28,666 | $83,001 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Equity Income Fund | ||||||||||
Class A | .88% | |||||||||
Actual | $ 1,000 | $ 1,074.40 | $ 4.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.66 | $ 4.46 | |||||||
Class M | 1.12% | |||||||||
Actual | $ 1,000 | $ 1,072.70 | $ 5.82 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.45 | $ 5.67 | |||||||
Class C | 1.66% | |||||||||
Actual | $ 1,000 | $ 1,070.00 | $ 8.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,016.75 | $ 8.39 | |||||||
Class I | .64% | |||||||||
Actual | $ 1,000 | $ 1,075.50 | $ 3.33 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.86 | $ 3.24 | |||||||
Class Z | .50% | |||||||||
Actual | $ 1,000 | $ 1,076.40 | $ 2.60 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.56 | $ 2.54 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl. 5.75% sales charge) | -4.71% | 7.18% | 6.06% |
Class M (incl. 3.50% sales charge) | -2.64% | 7.44% | 6.07% |
Class C (incl. contingent deferred sales charge) | -0.60% | 7.59% | 6.03% |
Class I | 1.37% | 8.74% | 6.97% |
Class Z | 1.53% | 8.91% | 7.13% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Small Cap Fund - Class A, a class of the fund, on November 30, 2013, and the current 5.75% sales charge was paid. The chart shows how the value of your investment would have changed, and also shows how the Russell 2000® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Insight Enterprises, Inc. | 1.9 | |
Fabrinet | 1.8 | |
Eagle Materials, Inc. | 1.8 | |
Constellium NV | 1.8 | |
Murphy U.S.A., Inc. | 1.6 | |
Patrick Industries, Inc. | 1.6 | |
Lamar Advertising Co. Class A | 1.5 | |
Performance Food Group Co. | 1.5 | |
The Ensign Group, Inc. | 1.5 | |
Primerica, Inc. | 1.5 | |
16.5 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 20.9 | |
Financials | 15.2 | |
Information Technology | 14.7 | |
Health Care | 13.2 | |
Consumer Discretionary | 12.0 | |
Materials | 7.1 | |
Real Estate | 4.3 | |
Energy | 4.3 | |
Consumer Staples | 4.1 | |
Communication Services | 2.9 | |
Utilities | 1.1 | |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (0.1)% |
Common Stocks - 99.8% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 2.9% | |||
Entertainment - 0.3% | |||
Vivid Seats, Inc. Class A (a) | 467,980 | 3,870 | |
Interactive Media & Services - 1.6% | |||
Cars.com, Inc. (a) | 967,000 | 18,006 | |
Ziff Davis, Inc. (a) | 153,400 | 9,790 | |
27,796 | |||
Media - 0.6% | |||
TechTarget, Inc. (a) | 340,900 | 10,091 | |
Wireless Telecommunication Services - 0.4% | |||
Gogo, Inc. (a) | 720,900 | 7,231 | |
TOTAL COMMUNICATION SERVICES | 48,988 | ||
CONSUMER DISCRETIONARY - 12.0% | |||
Automobile Components - 3.1% | |||
Adient PLC (a) | 493,200 | 15,881 | |
Fox Factory Holding Corp. (a) | 160,344 | 10,023 | |
Patrick Industries, Inc. | 336,464 | 27,604 | |
53,508 | |||
Hotels, Restaurants & Leisure - 1.2% | |||
Brinker International, Inc. (a) | 299,200 | 10,774 | |
Churchill Downs, Inc. | 78,100 | 9,042 | |
19,816 | |||
Household Durables - 2.3% | |||
SharkNinja Hong Kong Co. Ltd. | 299,966 | 14,098 | |
Skyline Champion Corp. (a) | 262,986 | 15,829 | |
Tempur Sealy International, Inc. (b) | 230,500 | 9,294 | |
39,221 | |||
Specialty Retail - 4.3% | |||
Academy Sports & Outdoors, Inc. | 148,905 | 7,575 | |
Murphy U.S.A., Inc. | 75,900 | 28,049 | |
Musti Group OYJ | 650,293 | 18,588 | |
Valvoline, Inc. (b) | 605,100 | 20,719 | |
74,931 | |||
Textiles, Apparel & Luxury Goods - 1.1% | |||
Crocs, Inc. (a)(b) | 174,121 | 18,389 | |
TOTAL CONSUMER DISCRETIONARY | 205,865 | ||
CONSUMER STAPLES - 4.1% | |||
Consumer Staples Distribution & Retail - 3.4% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 253,130 | 16,347 | |
Performance Food Group Co. (a) | 397,900 | 25,883 | |
Sprouts Farmers Market LLC (a) | 375,300 | 16,168 | |
58,398 | |||
Food Products - 0.7% | |||
Nomad Foods Ltd. (a) | 762,900 | 12,321 | |
TOTAL CONSUMER STAPLES | 70,719 | ||
ENERGY - 4.3% | |||
Energy Equipment & Services - 2.7% | |||
Cactus, Inc. | 401,400 | 17,055 | |
Championx Corp. | 650,600 | 19,076 | |
TechnipFMC PLC | 494,100 | 10,238 | |
46,369 | |||
Oil, Gas & Consumable Fuels - 1.6% | |||
Antero Resources Corp. (a) | 728,400 | 17,212 | |
Hess Midstream LP (b) | 319,248 | 10,388 | |
27,600 | |||
TOTAL ENERGY | 73,969 | ||
FINANCIALS - 15.2% | |||
Banks - 5.8% | |||
ConnectOne Bancorp, Inc. | 1,047,755 | 20,599 | |
First Interstate Bancsystem, Inc. | 628,400 | 16,269 | |
Independent Bank Group, Inc. | 453,000 | 17,522 | |
Metropolitan Bank Holding Corp. (a) | 265,782 | 10,358 | |
Pinnacle Financial Partners, Inc. | 317,900 | 23,070 | |
Trico Bancshares | 343,200 | 11,813 | |
99,631 | |||
Capital Markets - 3.7% | |||
Houlihan Lokey | 174,600 | 18,808 | |
Lazard Ltd. Class A | 374,200 | 11,219 | |
LPL Financial | 42,600 | 9,470 | |
Morningstar, Inc. | 43,009 | 12,187 | |
Patria Investments Ltd. | 792,260 | 11,218 | |
62,902 | |||
Consumer Finance - 0.5% | |||
PROG Holdings, Inc. (a) | 327,214 | 8,920 | |
Financial Services - 1.3% | |||
Essent Group Ltd. | 473,523 | 22,890 | |
Insurance - 3.9% | |||
Old Republic International Corp. | 705,800 | 20,687 | |
Primerica, Inc. | 123,300 | 25,833 | |
Selective Insurance Group, Inc. | 205,600 | 20,907 | |
67,427 | |||
TOTAL FINANCIALS | 261,770 | ||
HEALTH CARE - 13.2% | |||
Biotechnology - 3.6% | |||
Allogene Therapeutics, Inc. (a) | 578,800 | 1,360 | |
Arcellx, Inc. (a) | 133,500 | 7,013 | |
Astria Therapeutics, Inc. (a) | 340,100 | 1,581 | |
Blueprint Medicines Corp. (a) | 114,100 | 7,946 | |
Celldex Therapeutics, Inc. (a) | 69,400 | 2,097 | |
Cerevel Therapeutics Holdings (a) | 195,600 | 5,072 | |
Cogent Biosciences, Inc. (a) | 323,000 | 2,477 | |
Cytokinetics, Inc. (a) | 244,300 | 8,179 | |
Keros Therapeutics, Inc. (a) | 58,000 | 1,760 | |
Legend Biotech Corp. ADR (a) | 77,800 | 4,732 | |
Tyra Biosciences, Inc. (a)(b) | 328,400 | 3,846 | |
Vaxcyte, Inc. (a) | 152,800 | 7,910 | |
Viking Therapeutics, Inc. (a)(b) | 164,700 | 2,013 | |
Xenon Pharmaceuticals, Inc. (a) | 152,500 | 5,578 | |
Zentalis Pharmaceuticals, Inc. (a) | 88,646 | 997 | |
62,561 | |||
Health Care Equipment & Supplies - 4.0% | |||
Envista Holdings Corp. (a) | 470,500 | 10,676 | |
Haemonetics Corp. (a) | 146,000 | 11,807 | |
Inspire Medical Systems, Inc. (a) | 10,900 | 1,584 | |
Merit Medical Systems, Inc. (a) | 177,200 | 12,680 | |
Neogen Corp. (a) | 620,000 | 10,521 | |
Pulmonx Corp. (a) | 653,500 | 7,123 | |
TransMedics Group, Inc. (a)(b) | 185,800 | 14,061 | |
68,452 | |||
Health Care Providers & Services - 4.7% | |||
Acadia Healthcare Co., Inc. (a) | 329,600 | 24,058 | |
Chemed Corp. | 39,000 | 22,113 | |
Option Care Health, Inc. (a) | 318,537 | 9,476 | |
The Ensign Group, Inc. | 241,500 | 25,857 | |
81,504 | |||
Life Sciences Tools & Services - 0.2% | |||
BioLife Solutions, Inc. (a) | 240,100 | 2,970 | |
Pharmaceuticals - 0.7% | |||
Edgewise Therapeutics, Inc. (a) | 277,000 | 1,684 | |
Intra-Cellular Therapies, Inc. (a) | 108,200 | 6,640 | |
Verona Pharma PLC ADR (a) | 268,700 | 3,633 | |
11,957 | |||
TOTAL HEALTH CARE | 227,444 | ||
INDUSTRIALS - 20.9% | |||
Aerospace & Defense - 0.6% | |||
V2X, Inc. (a) | 246,197 | 10,439 | |
Building Products - 2.7% | |||
CSW Industrials, Inc. | 66,534 | 11,798 | |
Masonite International Corp. (a) | 130,700 | 11,613 | |
Simpson Manufacturing Co. Ltd. | 136,700 | 22,825 | |
46,236 | |||
Construction & Engineering - 2.5% | |||
EMCOR Group, Inc. | 97,500 | 20,721 | |
Granite Construction, Inc. | 224,600 | 10,320 | |
Sterling Construction Co., Inc. (a) | 194,100 | 12,327 | |
43,368 | |||
Electrical Equipment - 2.0% | |||
Array Technologies, Inc. (a)(b) | 684,532 | 10,590 | |
Atkore, Inc. (a) | 97,800 | 12,704 | |
Thermon Group Holdings, Inc. (a) | 387,200 | 11,674 | |
34,968 | |||
Ground Transportation - 1.0% | |||
TFI International, Inc. | 139,600 | 16,498 | |
Machinery - 1.9% | |||
ITT, Inc. | 103,200 | 11,173 | |
Terex Corp. | 433,600 | 21,463 | |
32,636 | |||
Professional Services - 5.2% | |||
ASGN, Inc. (a) | 194,200 | 17,330 | |
Concentrix Corp. | 161,141 | 15,146 | |
ExlService Holdings, Inc. (a) | 603,600 | 17,124 | |
FTI Consulting, Inc. (a) | 47,500 | 10,472 | |
KBR, Inc. | 384,500 | 19,867 | |
NV5 Global, Inc. (a) | 108,080 | 10,514 | |
90,453 | |||
Trading Companies & Distributors - 5.0% | |||
Applied Industrial Technologies, Inc. | 116,000 | 18,568 | |
Beacon Roofing Supply, Inc. (a) | 194,600 | 15,638 | |
FTAI Aviation Ltd. | 392,500 | 16,175 | |
GMS, Inc. (a) | 192,618 | 13,029 | |
Rush Enterprises, Inc. Class A | 552,891 | 21,933 | |
85,343 | |||
TOTAL INDUSTRIALS | 359,941 | ||
INFORMATION TECHNOLOGY - 14.7% | |||
Communications Equipment - 0.6% | |||
Extreme Networks, Inc. (a) | 664,400 | 10,723 | |
Electronic Equipment, Instruments & Components - 6.6% | |||
Advanced Energy Industries, Inc. (b) | 202,600 | 19,257 | |
Fabrinet (a) | 193,200 | 31,279 | |
Insight Enterprises, Inc. (a) | 219,572 | 33,250 | |
Napco Security Technologies, Inc. (b) | 279,702 | 8,559 | |
TD SYNNEX Corp. | 215,341 | 21,241 | |
113,586 | |||
IT Services - 1.1% | |||
Endava PLC ADR (a)(b) | 156,308 | 10,198 | |
Perficient, Inc. (a) | 131,000 | 8,106 | |
18,304 | |||
Semiconductors & Semiconductor Equipment - 3.0% | |||
AEHR Test Systems (a)(b) | 200,400 | 4,601 | |
Allegro MicroSystems LLC (a) | 289,400 | 7,877 | |
Axcelis Technologies, Inc. (a) | 45,000 | 5,593 | |
MACOM Technology Solutions Holdings, Inc. (a) | 291,400 | 24,472 | |
Synaptics, Inc. (a) | 97,145 | 9,835 | |
52,378 | |||
Software - 3.4% | |||
Five9, Inc. (a) | 111,400 | 8,491 | |
Intapp, Inc. (a) | 296,839 | 11,131 | |
PROS Holdings, Inc. (a) | 336,700 | 12,306 | |
Rapid7, Inc. (a) | 158,900 | 8,604 | |
Tenable Holdings, Inc. (a) | 446,900 | 18,497 | |
59,029 | |||
TOTAL INFORMATION TECHNOLOGY | 254,020 | ||
MATERIALS - 7.1% | |||
Chemicals - 2.3% | |||
Element Solutions, Inc. | 1,141,200 | 23,920 | |
The Chemours Co. LLC | 277,100 | 7,601 | |
Tronox Holdings PLC | 657,000 | 8,377 | |
39,898 | |||
Construction Materials - 1.8% | |||
Eagle Materials, Inc. | 168,800 | 30,561 | |
Metals & Mining - 3.0% | |||
Commercial Metals Co. | 478,100 | 21,672 | |
Constellium NV (a) | 1,752,900 | 30,500 | |
52,172 | |||
TOTAL MATERIALS | 122,631 | ||
REAL ESTATE - 4.3% | |||
Equity Real Estate Investment Trusts (REITs) - 3.6% | |||
Essential Properties Realty Trust, Inc. | 896,301 | 21,287 | |
Lamar Advertising Co. Class A | 260,200 | 26,356 | |
Urban Edge Properties | 861,000 | 14,422 | |
62,065 | |||
Real Estate Management & Development - 0.7% | |||
Colliers International Group, Inc. | 122,100 | 12,705 | |
TOTAL REAL ESTATE | 74,770 | ||
UTILITIES - 1.1% | |||
Gas Utilities - 1.1% | |||
Brookfield Infrastructure Corp. A Shares | 627,967 | 19,505 | |
TOTAL COMMON STOCKS (Cost $1,395,864) | 1,719,622 | ||
Money Market Funds - 2.7% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (c) | 1,022,269 | 1,022 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 45,244,419 | 45,249 | |
TOTAL MONEY MARKET FUNDS (Cost $46,271) | 46,271 | ||
Equity Funds - 0.3% | |||
Shares | Value ($) (000s) | ||
Small Blend Funds - 0.3% | |||
iShares Russell 2000 Index ETF (b) (Cost $5,544) | 30,700 | 5,516 | |
TOTAL INVESTMENT IN SECURITIES - 102.8% (Cost $1,447,679) | 1,771,409 |
NET OTHER ASSETS (LIABILITIES) - (2.8)% | (47,637) |
NET ASSETS - 100.0% | 1,723,772 |
ETF | - | EXCHANGE-TRADED FUND |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 14,942 | 435,922 | 449,842 | 551 | - | - | 1,022 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 50,384 | 569,258 | 574,393 | 322 | - | - | 45,249 | 0.2% |
Total | 65,326 | 1,005,180 | 1,024,235 | 873 | - | - | 46,271 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 48,988 | 48,988 | - | - |
Consumer Discretionary | 205,865 | 205,865 | - | - |
Consumer Staples | 70,719 | 70,719 | - | - |
Energy | 73,969 | 73,969 | - | - |
Financials | 261,770 | 261,770 | - | - |
Health Care | 227,444 | 227,444 | - | - |
Industrials | 359,941 | 359,941 | - | - |
Information Technology | 254,020 | 254,020 | - | - |
Materials | 122,631 | 122,631 | - | - |
Real Estate | 74,770 | 74,770 | - | - |
Utilities | 19,505 | 19,505 | - | - |
Money Market Funds | 46,271 | 46,271 | - | - |
Equity Funds | 5,516 | 5,516 | - | - |
Total Investments in Securities: | 1,771,409 | 1,771,409 | - | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $44,892) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,401,408) | $ | 1,725,138 | ||
Fidelity Central Funds (cost $46,271) | 46,271 | |||
Total Investment in Securities (cost $1,447,679) | $ | 1,771,409 | ||
Foreign currency held at value (cost $812) | 812 | |||
Receivable for investments sold | 765 | |||
Receivable for fund shares sold | 683 | |||
Dividends receivable | 2,082 | |||
Distributions receivable from Fidelity Central Funds | 57 | |||
Prepaid expenses | 2 | |||
Total assets | 1,775,810 | |||
Liabilities | ||||
Payable to custodian bank | $ | 3,643 | ||
Payable for fund shares redeemed | 1,183 | |||
Accrued management fee | 1,296 | |||
Distribution and service plan fees payable | 338 | |||
Other affiliated payables | 279 | |||
Other payables and accrued expenses | 53 | |||
Collateral on securities loaned | 45,246 | |||
Total Liabilities | 52,038 | |||
Net Assets | $ | 1,723,772 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,386,677 | ||
Total accumulated earnings (loss) | 337,095 | |||
Net Assets | $ | 1,723,772 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($643,377 ÷ 25,142 shares)(a) | $ | 25.59 | ||
Maximum offering price per share (100/94.25 of $25.59) | $ | 27.15 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($428,022 ÷ 19,009 shares)(a) | $ | 22.52 | ||
Maximum offering price per share (100/96.50 of $22.52) | $ | 23.34 | ||
Class C : | ||||
Net Asset Value and offering price per share ($38,926 ÷ 2,478 shares)(a) | $ | 15.71 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($434,482 ÷ 14,678 shares) | $ | 29.60 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($178,965 ÷ 6,000 shares) | $ | 29.83 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 16,762 | ||
Income from Fidelity Central Funds (including $322 from security lending) | 873 | |||
Total Income | 17,635 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 12,388 | ||
Performance adjustment | 3,669 | |||
Transfer agent fees | 3,081 | |||
Distribution and service plan fees | 4,342 | |||
Accounting fees | 498 | |||
Custodian fees and expenses | 67 | |||
Independent trustees' fees and expenses | 11 | |||
Registration fees | 99 | |||
Audit | 63 | |||
Legal | 13 | |||
Interest | 33 | |||
Miscellaneous | 8 | |||
Total expenses before reductions | 24,272 | |||
Expense reductions | (113) | |||
Total expenses after reductions | 24,159 | |||
Net Investment income (loss) | (6,524) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 35,508 | |||
Foreign currency transactions | 9 | |||
Total net realized gain (loss) | 35,517 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (11,386) | |||
Total change in net unrealized appreciation (depreciation) | (11,386) | |||
Net gain (loss) | 24,131 | |||
Net increase (decrease) in net assets resulting from operations | $ | 17,607 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (6,524) | $ | (7,413) |
Net realized gain (loss) | 35,517 | 107,304 | ||
Change in net unrealized appreciation (depreciation) | (11,386) | (416,191) | ||
Net increase (decrease) in net assets resulting from operations | 17,607 | (316,300) | ||
Distributions to shareholders | (89,410) | (224,659) | ||
Share transactions - net increase (decrease) | (117,828) | 289,457 | ||
Total increase (decrease) in net assets | (189,631) | (251,502) | ||
Net Assets | ||||
Beginning of period | 1,913,403 | 2,164,905 | ||
End of period | $ | 1,723,772 | $ | 1,913,403 |
Fidelity Advisor® Small Cap Fund Class A |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 26.67 | $ | 34.34 | $ | 26.09 | $ | 24.25 | $ | 24.46 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.10) | (.11) | (.17) | (.08) | (.03) | |||||
Net realized and unrealized gain (loss) | .31 | (4.04) | 9.15 | 2.85 | 2.56 | |||||
Total from investment operations | .21 | (4.15) | 8.98 | 2.77 | 2.53 | |||||
Distributions from net realized gain | (1.29) | (3.52) | (.73) | (.93) | (2.74) | |||||
Total distributions | (1.29) | (3.52) | (.73) | (.93) | (2.74) | |||||
Net asset value, end of period | $ | 25.59 | $ | 26.67 | $ | 34.34 | $ | 26.09 | $ | 24.25 |
Total Return C,D | 1.11% | (13.82)% | 35.20% | 11.78% | 13.97% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | 1.36% | 1.33% | 1.22% | 1.22% | .98% | |||||
Expenses net of fee waivers, if any | 1.35% | 1.32% | 1.22% | 1.22% | .98% | |||||
Expenses net of all reductions | 1.35% | 1.32% | 1.22% | 1.22% | .98% | |||||
Net investment income (loss) | (.39)% | (.40)% | (.53)% | (.36)% | (.13)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 643 | $ | 676 | $ | 837 | $ | 638 | $ | 654 |
Portfolio turnover rate G | 29% | 47% | 41% | 47% | 56% |
Fidelity Advisor® Small Cap Fund Class M |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 23.68 | $ | 30.88 | $ | 23.58 | $ | 22.06 | $ | 22.58 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.14) | (.15) | (.22) | (.12) | (.07) | |||||
Net realized and unrealized gain (loss) | .27 | (3.59) | 8.25 | 2.57 | 2.29 | |||||
Total from investment operations | .13 | (3.74) | 8.03 | 2.45 | 2.22 | |||||
Distributions from net realized gain | (1.29) | (3.46) | (.73) | (.93) | (2.74) | |||||
Total distributions | (1.29) | (3.46) | (.73) | (.93) | (2.74) | |||||
Net asset value, end of period | $ | 22.52 | $ | 23.68 | $ | 30.88 | $ | 23.58 | $ | 22.06 |
Total Return C,D | .89% | (14.03)% | 34.91% | 11.49% | 13.73% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | 1.60% | 1.57% | 1.46% | 1.45% | 1.22% | |||||
Expenses net of fee waivers, if any | 1.59% | 1.56% | 1.46% | 1.45% | 1.22% | |||||
Expenses net of all reductions | 1.59% | 1.56% | 1.46% | 1.45% | 1.21% | |||||
Net investment income (loss) | (.63)% | (.64)% | (.77)% | (.59)% | (.36)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 428 | $ | 477 | $ | 619 | $ | 503 | $ | 542 |
Portfolio turnover rate G | 29% | 47% | 41% | 47% | 56% |
Fidelity Advisor® Small Cap Fund Class C |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 17.02 | $ | 23.16 | $ | 17.96 | $ | 17.11 | $ | 18.32 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.19) | (.21) | (.29) | (.18) | (.15) | |||||
Net realized and unrealized gain (loss) | .17 | (2.56) | 6.22 | 1.96 | 1.68 | |||||
Total from investment operations | (.02) | (2.77) | 5.93 | 1.78 | 1.53 | |||||
Distributions from net realized gain | (1.29) | (3.37) | (.73) | (.93) | (2.74) | |||||
Total distributions | (1.29) | (3.37) | (.73) | (.93) | (2.74) | |||||
Net asset value, end of period | $ | 15.71 | $ | 17.02 | $ | 23.16 | $ | 17.96 | $ | 17.11 |
Total Return C,D | .32% | (14.51)% | 34.12% | 10.87% | 13.05% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | 2.18% | 2.15% | 2.03% | 2.04% | 1.79% | |||||
Expenses net of fee waivers, if any | 2.17% | 2.14% | 2.03% | 2.04% | 1.79% | |||||
Expenses net of all reductions | 2.17% | 2.14% | 2.03% | 2.03% | 1.78% | |||||
Net investment income (loss) | (1.21)% | (1.22)% | (1.34)% | (1.18)% | (.93)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 39 | $ | 50 | $ | 73 | $ | 81 | $ | 96 |
Portfolio turnover rate G | 29% | 47% | 41% | 47% | 56% |
Fidelity Advisor® Small Cap Fund Class I |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 30.56 | $ | 38.84 | $ | 29.34 | $ | 27.09 | $ | 26.89 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.04) | (.05) | (.10) | (.02) | .03 | |||||
Net realized and unrealized gain (loss) | .37 | (4.63) | 10.33 | 3.20 | 2.91 | |||||
Total from investment operations | .33 | (4.68) | 10.23 | 3.18 | 2.94 | |||||
Distributions from net realized gain | (1.29) | (3.60) | (.73) | (.93) | (2.74) | |||||
Total distributions | (1.29) | (3.60) | (.73) | (.93) | (2.74) | |||||
Net asset value, end of period | $ | 29.60 | $ | 30.56 | $ | 38.84 | $ | 29.34 | $ | 27.09 |
Total Return C | 1.37% | (13.61)% | 35.57% | 12.07% | 14.26% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | 1.10% | 1.08% | .97% | .96% | .72% | |||||
Expenses net of fee waivers, if any | 1.10% | 1.07% | .96% | .95% | .72% | |||||
Expenses net of all reductions | 1.10% | 1.07% | .96% | .95% | .72% | |||||
Net investment income (loss) | (.14)% | (.15)% | (.27)% | (.09)% | .14% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 434 | $ | 456 | $ | 519 | $ | 378 | $ | 434 |
Portfolio turnover rate F | 29% | 47% | 41% | 47% | 56% |
Fidelity Advisor® Small Cap Fund Class Z |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 30.74 | $ | 39.04 | $ | 29.45 | $ | 27.15 | $ | 26.90 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | - C | - C | (.05) | .01 | .07 | |||||
Net realized and unrealized gain (loss) | .38 | (4.65) | 10.37 | 3.22 | 2.92 | |||||
Total from investment operations | .38 | (4.65) | 10.32 | 3.23 | 2.99 | |||||
Distributions from net realized gain | (1.29) | (3.65) | (.73) | (.93) | (2.74) | |||||
Total distributions | (1.29) | (3.65) | (.73) | (.93) | (2.74) | |||||
Net asset value, end of period | $ | 29.83 | $ | 30.74 | $ | 39.04 | $ | 29.45 | $ | 27.15 |
Total Return D | 1.53% | (13.47)% | 35.75% | 12.23% | 14.46% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .96% | .93% | .83% | .81% | .57% | |||||
Expenses net of fee waivers, if any | .95% | .93% | .83% | .81% | .57% | |||||
Expenses net of all reductions | .95% | .93% | .83% | .80% | .57% | |||||
Net investment income (loss) | .01% | -% G | (.14)% | .05% | .29% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 179 | $ | 254 | $ | 117 | $ | 79 | $ | 117 |
Portfolio turnover rate H | 29% | 47% | 41% | 47% | 56% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $451,630 |
Gross unrealized depreciation | (131,157) |
Net unrealized appreciation (depreciation) | $320,473 |
Tax Cost | $1,450,936 |
Undistributed long-term capital gain | $25,566 |
Net unrealized appreciation (depreciation) on securities and other investments | $316,483 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $- | $9,286 |
Long-term Capital Gains | 89,410 | 215,373 |
Total | $89,410 | $ 224,659 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Small Cap Fund | 538,940 | 726,104 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $1,640 | $17 |
Class M | .25% | .25% | 2,269 | 12 |
Class C | .75% | .25% | 433 | 33 |
$4,342 | $62 |
Retained by FDC | |
Class A | $54 |
Class M | 7 |
Class CA | 1 |
$62 |
Amount | % of Class-Level Average Net Assets | |
Class A | $1,250 | .19 |
Class M | 806 | .18 |
Class C | 111 | .26 |
Class I | 810 | .19 |
Class Z | 104 | .04 |
$3,081 |
% of Class-Level Average Net Assets | |
Class A | 0.1871% |
Class M | 0.1754% |
Class C | 0.2000% |
Class I | 0.1834% |
% of Average Net Assets | |
Fidelity Advisor Small Cap Fund | .03 |
% of Average Net Assets | |
Fidelity Advisor Small Cap Fund | 0.0269% |
Amount | |
Fidelity Advisor Small Cap Fund | $20 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Small Cap Fund | Borrower | $10,381 | 5.05% | $32 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Small Cap Fund | 40,829 | 56,293 | (6,007) |
Amount | |
Fidelity Advisor Small Cap Fund | $3 |
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 Small Cap Fund | $35 | $-A | $22 |
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Small Cap Fund | $1,193 | 5.58% | $1 |
Expense reduction | |
Class M | $2 |
Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Small Cap Fund | ||
Distributions to shareholders | ||
Class A | $32,548 | $85,485 |
Class M | 25,778 | 68,964 |
Class C | 3,770 | 10,451 |
Class I | 19,157 | 48,341 |
Class Z | 8,157 | 11,418 |
Total | $89,410 | $224,659 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Advisor Small Cap Fund | ||||
Class A | ||||
Shares sold | 2,285 | 2,491 | $58,230 | $68,027 |
Reinvestment of distributions | 1,301 | 2,567 | 31,291 | 82,352 |
Shares redeemed | (3,794) | (4,082) | (96,500) | (111,179) |
Net increase (decrease) | (208) | 976 | $(6,979) | $39,200 |
Class M | ||||
Shares sold | 1,617 | 2,126 | $36,375 | $52,266 |
Reinvestment of distributions | 1,201 | 2,378 | 25,473 | 67,891 |
Shares redeemed | (3,955) | (4,400) | (89,092) | (106,286) |
Net increase (decrease) | (1,137) | 104 | $(27,244) | $13,871 |
Class C | ||||
Shares sold | 361 | 392 | $5,713 | $6,792 |
Reinvestment of distributions | 251 | 503 | 3,733 | 10,385 |
Shares redeemed | (1,099) | (1,082) | (17,167) | (18,975) |
Net increase (decrease) | (487) | (187) | $(7,721) | $(1,798) |
Class I | ||||
Shares sold | 3,104 | 5,582 | $91,158 | $181,303 |
Reinvestment of distributions | 656 | 1,244 | 18,199 | 45,641 |
Shares redeemed | (3,992) | (5,276) | (117,654) | (159,279) |
Net increase (decrease) | (232) | 1,550 | $(8,297) | $67,665 |
Class Z | ||||
Shares sold | 4,902 | 8,202 | $142,121 | $253,540 |
Reinvestment of distributions | 273 | 267 | 7,632 | 9,831 |
Shares redeemed | (7,441) | (3,209) | (217,340) | (92,852) |
Net increase (decrease) | (2,266) | 5,260 | $(67,587) | $170,519 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Small Cap Fund | ||||||||||
Class A | 1.35% | |||||||||
Actual | $ 1,000 | $ 1,064.50 | $ 6.99 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.30 | $ 6.83 | |||||||
Class M | 1.58% | |||||||||
Actual | $ 1,000 | $ 1,063.30 | $ 8.17 | |||||||
Hypothetical-B | $ 1,000 | $ 1,017.15 | $ 7.99 | |||||||
Class C | 2.16% | |||||||||
Actual | $ 1,000 | $ 1,060.10 | $ 11.16 | |||||||
Hypothetical-B | $ 1,000 | $ 1,014.24 | $ 10.91 | |||||||
Class I | 1.09% | |||||||||
Actual | $ 1,000 | $ 1,065.50 | $ 5.64 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.60 | $ 5.52 | |||||||
Class Z | .95% | |||||||||
Actual | $ 1,000 | $ 1,066.50 | $ 4.92 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.31 | $ 4.81 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity Advisor® Series Growth Opportunities Fund | 26.28% | 17.35% | 16.06% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Series Growth Opportunities Fund on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 11.3 | |
NVIDIA Corp. | 8.5 | |
Amazon.com, Inc. | 5.3 | |
Alphabet, Inc. Class C | 5.2 | |
Meta Platforms, Inc. Class A | 5.2 | |
Roku, Inc. Class A | 3.4 | |
Uber Technologies, Inc. | 3.3 | |
T-Mobile U.S., Inc. | 3.1 | |
UnitedHealth Group, Inc. | 2.2 | |
Alphabet, Inc. Class A | 2.2 | |
49.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 40.4 | |
Communication Services | 22.4 | |
Health Care | 10.4 | |
Financials | 8.2 | |
Consumer Discretionary | 8.1 | |
Industrials | 7.0 | |
Energy | 1.2 | |
Utilities | 1.1 | |
Consumer Staples | 0.6 | |
Real Estate | 0.4 | |
Materials | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 22.2% | |||
Entertainment - 4.8% | |||
Netflix, Inc. (a) | 8,700 | 4,123,539 | |
Roku, Inc. Class A (a) | 253,596 | 26,424,703 | |
Sea Ltd. ADR (a) | 182,540 | 6,611,599 | |
37,159,841 | |||
Interactive Media & Services - 14.0% | |||
Alphabet, Inc.: | |||
Class A (a) | 126,400 | 16,751,792 | |
Class C (a) | 301,760 | 40,411,699 | |
Epic Games, Inc. (a)(b)(c) | 2,200 | 1,300,112 | |
Meta Platforms, Inc. Class A (a) | 121,789 | 39,843,271 | |
Snap, Inc. Class A (a) | 447,000 | 6,182,010 | |
Zoominfo Technologies, Inc. (a) | 244,982 | 3,520,391 | |
108,009,275 | |||
Media - 0.3% | |||
Charter Communications, Inc. Class A (a) | 1,600 | 640,208 | |
Magnite, Inc. (a) | 226,002 | 1,826,096 | |
The Trade Desk, Inc. (a) | 1,200 | 84,552 | |
2,550,856 | |||
Wireless Telecommunication Services - 3.1% | |||
T-Mobile U.S., Inc. | 156,724 | 23,579,126 | |
TOTAL COMMUNICATION SERVICES | 171,299,098 | ||
CONSUMER DISCRETIONARY - 8.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. (a)(b)(c) | 77,208 | 2,494 | |
Rad Power Bikes, Inc. (b)(c) | 13,874 | 5,827 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 18,888 | 43,254 | |
Tesla, Inc. (a) | 260 | 62,421 | |
113,996 | |||
Broadline Retail - 5.3% | |||
Amazon.com, Inc. (a) | 281,280 | 41,092,195 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Doordash, Inc. (a) | 1,900 | 178,562 | |
Sonder Holdings, Inc.: | |||
Stage 1 rights (a)(c) | 1,133 | 34 | |
Stage 2 rights (a)(c) | 1,132 | 23 | |
Stage 3 rights (a)(c) | 1,132 | 11 | |
Stage 4 rights (a)(c) | 1,132 | 11 | |
Stage 5: | |||
rights (a)(c) | 1,132 | 11 | |
rights (a)(c) | 1,132 | 11 | |
178,663 | |||
Household Durables - 0.0% | |||
D.R. Horton, Inc. | 600 | 76,602 | |
Lennar Corp. Class A | 800 | 102,336 | |
178,938 | |||
Specialty Retail - 1.9% | |||
Auto1 Group SE (a)(d) | 211,924 | 1,333,326 | |
Carvana Co. Class A (a) | 100,000 | 3,132,000 | |
Floor & Decor Holdings, Inc. Class A (a)(e) | 65,600 | 6,016,176 | |
Lowe's Companies, Inc. | 14,100 | 2,803,503 | |
Wayfair LLC Class A (a) | 21,586 | 1,204,499 | |
14,489,504 | |||
Textiles, Apparel & Luxury Goods - 0.8% | |||
Bombas LLC (a)(b)(c) | 174,908 | 503,735 | |
lululemon athletica, Inc. (a) | 12,001 | 5,362,047 | |
5,865,782 | |||
TOTAL CONSUMER DISCRETIONARY | 61,919,078 | ||
CONSUMER STAPLES - 0.6% | |||
Beverages - 0.2% | |||
The Coca-Cola Co. | 18,300 | 1,069,452 | |
Consumer Staples Distribution & Retail - 0.4% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 45,100 | 2,912,558 | |
Maplebear, Inc. (e) | 4,600 | 111,274 | |
Maplebear, Inc. (unlisted) | 13,685 | 297,936 | |
3,321,768 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. warrants (a)(b)(c) | 7,445 | 30,748 | |
Tobacco - 0.0% | |||
JUUL Labs, Inc. Class B (a)(b)(c) | 709 | 759 | |
TOTAL CONSUMER STAPLES | 4,422,727 | ||
ENERGY - 1.2% | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Antero Resources Corp. (a) | 124,800 | 2,949,024 | |
Canadian Natural Resources Ltd. | 20,600 | 1,375,560 | |
Hess Corp. | 10,400 | 1,461,824 | |
Ovintiv, Inc. | 38,300 | 1,698,222 | |
Tourmaline Oil Corp. (e) | 38,100 | 1,844,142 | |
9,328,772 | |||
FINANCIALS - 8.0% | |||
Banks - 0.1% | |||
Starling Bank Ltd. Series D (a)(b)(c) | 244,400 | 928,714 | |
Capital Markets - 0.7% | |||
LPL Financial | 24,400 | 5,424,120 | |
Financial Services - 7.2% | |||
Apollo Global Management, Inc. | 8,600 | 791,200 | |
Block, Inc. Class A (a) | 189,479 | 12,018,653 | |
Dlocal Ltd. (a)(e) | 209,956 | 3,621,741 | |
Fiserv, Inc. (a) | 57,000 | 7,444,770 | |
Global Payments, Inc. | 77,000 | 8,965,880 | |
Marqeta, Inc. Class A (a) | 906,388 | 5,755,564 | |
MasterCard, Inc. Class A | 10,201 | 4,221,480 | |
PayPal Holdings, Inc. (a) | 1,400 | 80,654 | |
Repay Holdings Corp. (a) | 163,530 | 1,226,475 | |
Visa, Inc. Class A | 45,226 | 11,608,610 | |
55,735,027 | |||
TOTAL FINANCIALS | 62,087,861 | ||
HEALTH CARE - 10.3% | |||
Biotechnology - 1.6% | |||
Alnylam Pharmaceuticals, Inc. (a) | 4,063 | 683,600 | |
ALX Oncology Holdings, Inc. (a) | 35,700 | 279,888 | |
Argenx SE ADR (a) | 4,290 | 1,933,117 | |
Ascendis Pharma A/S sponsored ADR (a) | 8,116 | 815,090 | |
Celldex Therapeutics, Inc. (a) | 34,400 | 1,039,224 | |
Cytokinetics, Inc. (a) | 45,341 | 1,518,017 | |
Icosavax, Inc. (a) | 74,190 | 750,803 | |
Keros Therapeutics, Inc. (a) | 12,000 | 364,080 | |
Moderna, Inc. (a) | 4,600 | 357,420 | |
Nuvalent, Inc. Class A (a) | 14,400 | 941,328 | |
Regeneron Pharmaceuticals, Inc. (a) | 900 | 741,429 | |
Vaxcyte, Inc. (a) | 48,302 | 2,500,595 | |
Zentalis Pharmaceuticals, Inc. (a) | 35,100 | 394,875 | |
12,319,466 | |||
Health Care Equipment & Supplies - 2.7% | |||
Baxter International, Inc. | 2,200 | 79,376 | |
Blink Health LLC Series A1 (a)(b)(c) | 1,597 | 74,947 | |
Boston Scientific Corp. (a) | 246,201 | 13,760,174 | |
Inspire Medical Systems, Inc. (a) | 300 | 43,593 | |
Penumbra, Inc. (a) | 15,295 | 3,396,867 | |
TransMedics Group, Inc. (a) | 46,799 | 3,541,748 | |
20,896,705 | |||
Health Care Providers & Services - 4.1% | |||
agilon health, Inc. (a)(e) | 350,083 | 3,717,881 | |
Alignment Healthcare, Inc. (a) | 40,903 | 306,773 | |
Centene Corp. (a) | 49,487 | 3,646,202 | |
Humana, Inc. | 14,519 | 7,039,682 | |
UnitedHealth Group, Inc. | 30,391 | 16,805,311 | |
31,515,849 | |||
Life Sciences Tools & Services - 0.7% | |||
Danaher Corp. | 12,397 | 2,768,374 | |
Thermo Fisher Scientific, Inc. | 5,800 | 2,875,408 | |
5,643,782 | |||
Pharmaceuticals - 1.2% | |||
Eli Lilly & Co. | 13,800 | 8,156,352 | |
Novo Nordisk A/S Series B | 7,700 | 786,668 | |
Structure Therapeutics, Inc. ADR | 10,900 | 607,021 | |
9,550,041 | |||
TOTAL HEALTH CARE | 79,925,843 | ||
INDUSTRIALS - 6.1% | |||
Aerospace & Defense - 0.7% | |||
Space Exploration Technologies Corp. Class A (a)(b)(c) | 3,000 | 243,000 | |
The Boeing Co. (a) | 21,000 | 4,864,230 | |
5,107,230 | |||
Building Products - 0.0% | |||
Builders FirstSource, Inc. (a) | 600 | 80,466 | |
Commercial Services & Supplies - 0.3% | |||
ACV Auctions, Inc. Class A (a) | 113,300 | 1,770,879 | |
Veralto Corp. | 3,665 | 283,121 | |
2,054,000 | |||
Electrical Equipment - 1.3% | |||
Bloom Energy Corp. Class A (a)(e) | 63,500 | 916,940 | |
Eaton Corp. PLC | 4,900 | 1,115,681 | |
Nextracker, Inc. Class A | 2,900 | 117,856 | |
Sunrun, Inc. (a) | 4,300 | 55,470 | |
Vertiv Holdings Co. | 187,100 | 8,168,786 | |
10,374,733 | |||
Ground Transportation - 3.8% | |||
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 152 | 2 | |
Stage 2 rights (a)(c) | 152 | 0 | |
Stage 3 rights (a)(c) | 152 | 0 | |
Lyft, Inc. (a) | 315,210 | 3,697,413 | |
Uber Technologies, Inc. (a) | 451,876 | 25,476,769 | |
29,174,184 | |||
Machinery - 0.0% | |||
Symbotic, Inc. (a)(e) | 1,600 | 84,608 | |
TOTAL INDUSTRIALS | 46,875,221 | ||
INFORMATION TECHNOLOGY - 40.0% | |||
Communications Equipment - 0.2% | |||
Lumentum Holdings, Inc. (a) | 40,800 | 1,746,240 | |
Electronic Equipment, Instruments & Components - 2.4% | |||
Coherent Corp. (a) | 28,000 | 1,030,120 | |
Flex Ltd. (a) | 572,090 | 14,559,691 | |
Jabil, Inc. | 28,100 | 3,240,492 | |
18,830,303 | |||
IT Services - 1.8% | |||
Accenture PLC Class A | 2,100 | 699,594 | |
EPAM Systems, Inc. (a) | 21,600 | 5,576,904 | |
MongoDB, Inc. Class A (a) | 16,800 | 6,984,432 | |
Snowflake, Inc. (a) | 2,300 | 431,664 | |
13,692,594 | |||
Semiconductors & Semiconductor Equipment - 15.9% | |||
Advanced Micro Devices, Inc. (a) | 97,200 | 11,776,752 | |
Applied Materials, Inc. | 11,666 | 1,747,333 | |
Arm Holdings Ltd. ADR (e) | 6,400 | 393,600 | |
First Solar, Inc. (a) | 500 | 78,890 | |
GaN Systems, Inc. (c) | 45,589 | 4,590 | |
GaN Systems, Inc. (c) | 45,589 | 0 | |
GlobalFoundries, Inc. (a) | 36,835 | 1,977,671 | |
Marvell Technology, Inc. | 201,177 | 11,211,594 | |
NVIDIA Corp. | 139,976 | 65,466,775 | |
NXP Semiconductors NV | 66,828 | 13,638,258 | |
ON Semiconductor Corp. (a) | 164,842 | 11,758,180 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 45,700 | 4,447,067 | |
122,500,710 | |||
Software - 17.5% | |||
Adobe, Inc. (a) | 9,400 | 5,743,494 | |
Autodesk, Inc. (a) | 1,600 | 349,488 | |
Cadence Design Systems, Inc. (a) | 300 | 81,981 | |
Confluent, Inc. (a) | 4,700 | 99,734 | |
Convoy, Inc. warrants (a)(b)(c) | 6,152 | 0 | |
CoreWeave, Inc. (b)(c) | 433 | 134,169 | |
Datadog, Inc. Class A (a) | 39,100 | 4,557,887 | |
DoubleVerify Holdings, Inc. (a) | 48,140 | 1,598,248 | |
Dynatrace, Inc. (a) | 90,347 | 4,838,082 | |
HubSpot, Inc. (a) | 6,874 | 3,395,275 | |
Intapp, Inc. (a) | 62,979 | 2,361,713 | |
Intuit, Inc. | 7,113 | 4,064,795 | |
Klaviyo, Inc. Class A | 1,600 | 47,408 | |
Microsoft Corp. | 229,983 | 87,142,859 | |
Oracle Corp. | 57,200 | 6,647,212 | |
Palo Alto Networks, Inc. (a) | 4,800 | 1,416,432 | |
Salesforce, Inc. (a) | 21,879 | 5,511,320 | |
Samsara, Inc. (a) | 3,000 | 82,620 | |
ServiceNow, Inc. (a) | 10,368 | 7,109,752 | |
Stripe, Inc. Class B (a)(b)(c) | 2,500 | 55,025 | |
135,237,494 | |||
Technology Hardware, Storage & Peripherals - 2.2% | |||
Apple, Inc. | 83,813 | 15,920,279 | |
Pure Storage, Inc. Class A (a) | 36,800 | 1,225,808 | |
17,146,087 | |||
TOTAL INFORMATION TECHNOLOGY | 309,153,428 | ||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.4% | |||
American Tower Corp. | 13,200 | 2,755,896 | |
UTILITIES - 1.1% | |||
Electric Utilities - 1.1% | |||
Constellation Energy Corp. | 31,133 | 3,768,338 | |
PG&E Corp. | 283,600 | 4,869,412 | |
8,637,750 | |||
TOTAL COMMON STOCKS (Cost $430,565,249) | 756,405,674 | ||
Preferred Stocks - 1.9% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.7% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 4,644 | 1,180,505 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 1,809 | 760 | |
Series C(a)(b)(c) | 7,117 | 5,124 | |
Series D(a)(b)(c) | 12,697 | 13,205 | |
19,089 | |||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc. Series G (a)(b)(c) | 2,400 | 124,800 | |
Food Products - 0.0% | |||
Bowery Farming, Inc.: | |||
Series C1(a)(b)(c) | 13,745 | 109,273 | |
Series D1(b)(c) | 7,445 | 39,607 | |
148,880 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc.: | |||
Series C(a)(b)(c) | 70,175 | 75,087 | |
Series D(a)(b)(c) | 938 | 1,004 | |
76,091 | |||
TOTAL CONSUMER STAPLES | 349,771 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (a)(b)(c) | 5,401 | 110,180 | |
Tenstorrent Holdings, Inc. Series C1 (b)(c) | 2,264 | 126,784 | |
236,964 | |||
HEALTH CARE - 0.1% | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 15,631 | 733,563 | |
Health Care Technology - 0.0% | |||
Aledade, Inc. Series E1 (a)(b)(c) | 5,837 | 276,440 | |
TOTAL HEALTH CARE | 1,010,003 | ||
INDUSTRIALS - 0.9% | |||
Aerospace & Defense - 0.7% | |||
Relativity Space, Inc. Series E (a)(b)(c) | 36,263 | 770,226 | |
Space Exploration Technologies Corp.: | |||
Series I(a)(b)(c) | 3,290 | 2,664,900 | |
Series N(a)(b)(c) | 2,559 | 2,072,790 | |
5,507,916 | |||
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series A (a)(b)(c) | 15,188 | 1,367,528 | |
TOTAL INDUSTRIALS | 6,875,444 | ||
INFORMATION TECHNOLOGY - 0.4% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
CelLink Corp. Series D (a)(b)(c) | 12,100 | 120,395 | |
Enevate Corp. Series E (a)(b)(c) | 285,844 | 240,109 | |
VAST Data Ltd.: | |||
Series A(b)(c) | 2,512 | 27,632 | |
Series A1(b)(c) | 6,183 | 68,013 | |
Series A2(b)(c) | 7,112 | 78,232 | |
Series B(b)(c) | 5,659 | 62,249 | |
Series C(b)(c) | 165 | 1,815 | |
Series E(b)(c) | 5,408 | 118,976 | |
717,421 | |||
IT Services - 0.0% | |||
Yanka Industries, Inc.: | |||
Series E(a)(b)(c) | 19,716 | 137,618 | |
Series F(a)(b)(c) | 13,160 | 91,857 | |
229,475 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
SiMa.ai: | |||
Series B(a)(b)(c) | 40,700 | 260,073 | |
Series B1(a)(b)(c) | 5,810 | 42,994 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 17,400 | 78,474 | |
381,541 | |||
Software - 0.2% | |||
Convoy, Inc. Series D (a)(b)(c) | 93,888 | 1 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 6,600 | 485,100 | |
Series I(b)(c) | 104 | 7,644 | |
Moloco, Inc. Series A (b)(c) | 11,676 | 705,581 | |
Mountain Digital, Inc. Series D (a)(b)(c) | 28,106 | 425,806 | |
Stripe, Inc. Series H (a)(b)(c) | 5,729 | 126,095 | |
1,750,227 | |||
TOTAL INFORMATION TECHNOLOGY | 3,078,664 | ||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 23,194 | 673,090 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 13,423,530 | ||
Nonconvertible Preferred Stocks - 0.2% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1C (a)(b)(c) | 1,387,600 | 44,819 | |
Waymo LLC Series A2 (a)(b)(c) | 2,896 | 164,145 | |
208,964 | |||
FINANCIALS - 0.2% | |||
Financial Services - 0.2% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 53,240 | 1,086,096 | |
INFORMATION TECHNOLOGY - 0.0% | |||
IT Services - 0.0% | |||
Gupshup, Inc. (a)(b)(c) | 17,900 | 223,750 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 1,518,810 | ||
TOTAL PREFERRED STOCKS (Cost $14,158,852) | 14,942,340 | ||
Convertible Bonds - 0.1% | |||
Principal Amount (f) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.1% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (b)(c) | 47,700 | 63,808 | |
4% 6/12/27 (b)(c) | 13,100 | 17,524 | |
5.5% 10/29/26 (b)(c)(g) | 413,150 | 411,084 | |
492,416 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Convoy, Inc. 15% 9/30/26 (b)(c) | 40,971 | 0 | |
TOTAL CONVERTIBLE BONDS (Cost $514,921) | 492,416 | ||
Preferred Securities - 0.0% | |||
Principal Amount (f) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (b)(c) | 18,888 | 34,356 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. 6% (b)(c)(h) | 14,864 | 15,070 | |
TOTAL PREFERRED SECURITIES (Cost $33,752) | 49,426 | ||
Money Market Funds - 1.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (i) | 1,286,678 | 1,286,935 | |
Fidelity Securities Lending Cash Central Fund 5.39% (i)(j) | 12,522,479 | 12,523,731 | |
TOTAL MONEY MARKET FUNDS (Cost $13,810,666) | 13,810,666 | ||
TOTAL INVESTMENT IN SECURITIES - 101.7% (Cost $459,083,440) | 785,700,522 |
NET OTHER ASSETS (LIABILITIES) - (1.7)% | (12,985,753) |
NET ASSETS - 100.0% | 772,714,769 |
(a) | Non-income producing |
(b) | 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 $18,806,966 or 2.4% of net assets. |
(c) | Level 3 security |
(d) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,333,326 or 0.2% of net assets. |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(h) | Security is perpetual in nature with no stated maturity date. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Aledade, Inc. Series E1 | 5/20/22 | 290,767 |
Beta Technologies, Inc. Series A | 4/09/21 | 1,112,825 |
Blink Health LLC Series A1 | 12/30/20 | 43,263 |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 596,729 |
Bombas LLC | 2/16/21 - 11/12/21 | 830,401 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 828,127 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 70,343 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 508,862 |
CelLink Corp. Series D | 1/20/22 | 251,969 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 864,100 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 227,598 |
Convoy, Inc. Series D | 10/30/19 | 1,271,244 |
Convoy, Inc. warrants | 3/24/23 | 0 |
Convoy, Inc. 15% 9/30/26 | 3/24/23 | 40,971 |
CoreWeave, Inc. | 11/29/23 | 134,169 |
Databricks, Inc. Series G | 2/01/21 | 390,209 |
Databricks, Inc. Series I | 9/14/23 | 7,644 |
Diamond Foundry, Inc. Series C | 3/15/21 | 556,656 |
Enevate Corp. Series E | 1/29/21 | 316,911 |
Enevate Corp. 6% | 11/02/23 | 14,864 |
Epic Games, Inc. | 7/13/20 - 3/29/21 | 1,730,000 |
GoBrands, Inc. Series G | 3/02/21 | 599,322 |
Gupshup, Inc. | 6/08/21 | 409,287 |
JUUL Labs, Inc. Class B | 11/21/17 | 0 |
JUUL Labs, Inc. Series C | 5/22/15 | 0 |
JUUL Labs, Inc. Series D | 6/25/18 | 0 |
Moloco, Inc. Series A | 6/26/23 | 700,560 |
Mountain Digital, Inc. Series D | 11/05/21 | 645,463 |
Neutron Holdings, Inc. | 2/04/21 | 772 |
Neutron Holdings, Inc. Series 1C | 7/03/18 | 253,709 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 47,700 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 13,100 |
Neutron Holdings, Inc. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 413,150 |
Rad Power Bikes, Inc. | 1/21/21 | 66,926 |
Rad Power Bikes, Inc. warrants 10/6/33 | 10/06/23 | 0 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 8,726 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 34,331 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 121,686 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 18,888 |
Relativity Space, Inc. Series E | 5/27/21 | 828,069 |
SiMa.ai Series B | 5/10/21 | 208,685 |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 41,198 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 125,997 |
Space Exploration Technologies Corp. Series I | 4/05/18 | 556,010 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 690,930 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 468,193 |
Stripe, Inc. Class B | 5/18/21 | 100,321 |
Stripe, Inc. Series H | 3/15/21 - 5/25/23 | 229,877 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 134,645 |
VAST Data Ltd. Series A | 11/28/23 | 27,632 |
VAST Data Ltd. Series A1 | 11/28/23 | 68,013 |
VAST Data Ltd. Series A2 | 11/28/23 | 78,232 |
VAST Data Ltd. Series B | 11/28/23 | 62,249 |
VAST Data Ltd. Series C | 11/28/23 | 1,815 |
VAST Data Ltd. Series E | 11/28/23 | 118,976 |
Waymo LLC Series A2 | 5/08/20 | 248,671 |
Xsight Labs Ltd. Series D | 2/16/21 | 139,130 |
Yanka Industries, Inc. Series E | 5/15/20 | 238,154 |
Yanka Industries, Inc. Series F | 4/08/21 | 419,499 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 2,314,371 | 269,867,822 | 270,895,258 | 158,986 | - | - | 1,286,935 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 6,708,138 | 164,743,401 | 158,927,808 | 131,304 | - | - | 12,523,731 | 0.0% |
Total | 9,022,509 | 434,611,223 | 429,823,066 | 290,290 | - | - | 13,810,666 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 172,479,603 | 169,998,986 | - | 2,480,617 |
Consumer Discretionary | 62,147,131 | 61,363,667 | - | 783,464 |
Consumer Staples | 4,772,498 | 4,093,284 | 297,936 | 381,278 |
Energy | 9,328,772 | 9,328,772 | - | - |
Financials | 63,410,921 | 61,159,147 | - | 2,251,774 |
Health Care | 80,935,846 | 79,064,228 | 786,668 | 1,084,950 |
Industrials | 53,750,665 | 46,632,219 | - | 7,118,446 |
Information Technology | 312,455,842 | 308,959,644 | - | 3,496,198 |
Materials | 673,090 | - | - | 673,090 |
Real Estate | 2,755,896 | 2,755,896 | - | - |
Utilities | 8,637,750 | 8,637,750 | - | - |
Corporate Bonds | 492,416 | - | - | 492,416 |
Preferred Securities | 49,426 | - | - | 49,426 |
Money Market Funds | 13,810,666 | 13,810,666 | - | - |
Total Investments in Securities: | 785,700,522 | 765,804,259 | 1,084,604 | 18,811,659 |
Investments in Securities: | |||
Beginning Balance | $ | 18,099,372 | |
Net Realized Gain (Loss) on Investment Securities | 152,767 | ||
Net Unrealized Gain (Loss) on Investment Securities | (2,624,203) | ||
Cost of Purchases | 1,567,354 | ||
Proceeds of Sales | (661,055) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 2,880,933 | ||
Transfers out of Level 3 | (603,509) | ||
Ending Balance | $ | 18,811,659 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (2,771,079) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $12,145,569) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $445,272,774) | $ | 771,889,856 | ||
Fidelity Central Funds (cost $13,810,666) | 13,810,666 | |||
Total Investment in Securities (cost $459,083,440) | $ | 785,700,522 | ||
Foreign currency held at value (cost $136) | 139 | |||
Receivable for investments sold | 37,992,414 | |||
Receivable for fund shares sold | 30,275 | |||
Dividends receivable | 370,438 | |||
Interest receivable | 14,880 | |||
Distributions receivable from Fidelity Central Funds | 11,322 | |||
Receivable from investment adviser for expense reductions | 1,862 | |||
Other receivables | 97 | |||
Total assets | 824,121,949 | |||
Liabilities | ||||
Payable for investments purchased | $ | 650,122 | ||
Payable for fund shares redeemed | 38,216,722 | |||
Other payables and accrued expenses | 15,553 | |||
Collateral on securities loaned | 12,524,783 | |||
Total Liabilities | 51,407,180 | |||
Net Assets | $ | 772,714,769 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 490,855,676 | ||
Total accumulated earnings (loss) | 281,859,093 | |||
Net Assets | $ | 772,714,769 | ||
Net Asset Value, offering price and redemption price per share ($772,714,769 ÷ 63,848,695 shares) | $ | 12.10 |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 3,085,391 | ||
Interest | 31,737 | |||
Income from Fidelity Central Funds (including $131,304 from security lending) | 290,290 | |||
Total Income | 3,407,418 | |||
Expenses | ||||
Custodian fees and expenses | $ | 51,459 | ||
Independent trustees' fees and expenses | 4,067 | |||
Legal | 144 | |||
Interest | 24,140 | |||
Miscellaneous | 15 | |||
Total expenses before reductions | 79,825 | |||
Expense reductions | (27,258) | |||
Total expenses after reductions | 52,567 | |||
Net Investment income (loss) | 3,354,851 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $144,260) | 3,142,614 | |||
Foreign currency transactions | 5,495 | |||
Total net realized gain (loss) | 3,148,109 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of decrease in deferred foreign taxes of $144,127) | 173,550,907 | |||
Unfunded commitments | 38,467 | |||
Assets and liabilities in foreign currencies | (11,372) | |||
Total change in net unrealized appreciation (depreciation) | 173,578,002 | |||
Net gain (loss) | 176,726,111 | |||
Net increase (decrease) in net assets resulting from operations | $ | 180,080,962 |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 3,354,851 | $ | 3,908,240 |
Net realized gain (loss) | 3,148,109 | (46,081,967) | ||
Change in net unrealized appreciation (depreciation) | 173,578,002 | (225,541,561) | ||
Net increase (decrease) in net assets resulting from operations | 180,080,962 | (267,715,288) | ||
Distributions to shareholders | (3,392,612) | (182,406,087) | ||
Share transactions | ||||
Proceeds from sales of shares | 164,000,171 | 362,824,993 | ||
Reinvestment of distributions | 3,392,612 | 182,406,087 | ||
Cost of shares redeemed | (275,043,180) | (167,505,935) | ||
Net increase (decrease) in net assets resulting from share transactions | (107,650,397) | 377,725,145 | ||
Total increase (decrease) in net assets | 69,037,953 | (72,396,230) | ||
Net Assets | ||||
Beginning of period | 703,676,816 | 776,073,046 | ||
End of period | $ | 772,714,769 | $ | 703,676,816 |
Other Information | ||||
Shares | ||||
Sold | 15,984,865 | 33,624,140 | ||
Issued in reinvestment of distributions | 364,014 | 13,132,188 | ||
Redeemed | (25,592,405) | (15,229,553) | ||
Net increase (decrease) | (9,243,526) | 31,526,775 | ||
Fidelity Advisor® Series Growth Opportunities Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 9.63 | $ | 18.67 | $ | 20.55 | $ | 16.27 | $ | 15.46 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .05 | .06 | .06 | .08 | .11 C | |||||
Net realized and unrealized gain (loss) | 2.47 | (4.79) | 3.39 | 7.91 | 3.56 | |||||
Total from investment operations | 2.52 | (4.73) | 3.45 | 7.99 | 3.67 | |||||
Distributions from net investment income | (.05) | (.06) | (.11) | (.13) | (.11) | |||||
Distributions from net realized gain | - | (4.25) | (5.22) | (3.59) | (2.75) | |||||
Total distributions | (.05) | (4.31) | (5.33) | (3.71) D | (2.86) | |||||
Net asset value, end of period | $ | 12.10 | $ | 9.63 | $ | 18.67 | $ | 20.55 | $ | 16.27 |
Total Return E | 26.28% | (32.42)% | 21.11% | 63.04% | 32.07% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .01% | .01% | .01% | .01% | .01% | |||||
Expenses net of fee waivers, if any | .01% | -% H | -% H | .01% | .01% | |||||
Expenses net of all reductions | .01% | -% H | -% H | .01% | .01% | |||||
Net investment income (loss) | .47% | .57% | .35% | .54% | .77% C | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 772,715 | $ | 703,677 | $ | 776,073 | $ | 713,285 | $ | 647,544 |
Portfolio turnover rate I | 69% | 97% | 84% | 78% | 78% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Equities | $18,269,817 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 13.1 - 15.5 / 13.4 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.1 - 21.6 / 6.1 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 11.8 | Increase | |||
Market approach | Transaction price | $1.10 - $309.86 / $51.61 | Increase | ||
Discount rate | 15.0% - 35.0% / 29.3% | Decrease | |||
Premium rate | 10.0% - 35.0% / 17.4% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Weighted average cost of capital (WACC) | 27.1% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.2% - 4.9% / 4.6% | Increase | ||
Volatility | 50.0% - 100.0% / 77.5% | Increase | |||
Term | 2.0 - 5.0 / 3.6 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.10 / $0.01 | Increase | ||
Corporate Bonds | $492,416 | Market comparable | Discount rate | 29.2% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 2.6 | Increase | |||
Probability rate | 10.0% - 75.0% / 33.3% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 1.3 | Increase | |||
Preferred Securities | $49,426 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.5 | Increase |
Market approach | Transaction price | $1.10 | Increase | ||
Discount rate | 30.0% | Decrease | |||
Black scholes | Discount rate | 4.6% - 4.9% / 4.8% | Increase | ||
Volatility | 60.0% - 100.0% / 72.2% | Increase | |||
Term | 2.1 - 3.0 / 2.4 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase |
Gross unrealized appreciation | $346,656,158 |
Gross unrealized depreciation | (26,266,742) |
Net unrealized appreciation (depreciation) | $320,389,416 |
Tax Cost | $465,311,106 |
Undistributed ordinary income | $2,347,196 |
Capital loss carryforward | $(40,877,779) |
Net unrealized appreciation (depreciation) on securities and other investments | $320,389,676 |
Short-term | $(40,880,779) |
Long-term | - |
Total capital loss carryforward | $(40,880,779) |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $3,392,612 | $31,798,276 |
Long-term Capital Gains | - | 150,607,811 |
Total | $3,392,612 | $182,406,087 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Series Growth Opportunities Fund | 488,208,111 | 594,352,740 |
Amount | |
Fidelity Advisor Series Growth Opportunities Fund | $9,866 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Series Growth Opportunities Fund | Borrower | $13,115,385 | 5.10% | $24,140 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Series Growth Opportunities Fund | 18,590,579 | 44,825,983 | (2,897,078) |
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 Series Growth Opportunities Fund | $14,091 | $13,653 | $27,600 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Series Growth Opportunities Fund | .01% | |||||||||
Actual | $ 1,000 | $ 1,120.40 | $ .05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.02 | $ .05 | |||||||
A special meeting of shareholders was held on April 19, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To reclassify the diversification status of the fund from diversified to non-diversified by eliminating the following fundamental policy: The fund may not with respect to 75% of fund's total assets, purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or securities of other investment companies) if, as a result, (a) more than 5% of fund's total assets would be invested in the securities of that issuer, or (b) the fund would hold more than 10% of outstanding voting securities of issuer. | ||
# of Votes | % of Votes | |
Affirmative | 703,275,700.060 | 100.000 |
Against | 0.000 | 0.000 |
Abstain | 0.000 | 0.000 |
TOTAL | 703,275,700.060 | 100.000 |
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity Advisor® Series Equity Growth Fund | 22.44% | 17.34% | 14.94% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Series Equity Growth Fund, on June 6, 2014, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 15.1 | |
NVIDIA Corp. | 6.6 | |
Amazon.com, Inc. | 5.0 | |
Alphabet, Inc. Class A | 4.7 | |
Apple, Inc. | 4.4 | |
Uber Technologies, Inc. | 4.3 | |
Eli Lilly & Co. | 2.4 | |
Boston Scientific Corp. | 2.2 | |
Netflix, Inc. | 1.9 | |
Universal Music Group NV | 1.9 | |
48.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 40.0 | |
Health Care | 15.3 | |
Industrials | 13.2 | |
Consumer Discretionary | 10.6 | |
Communication Services | 9.7 | |
Financials | 5.2 | |
Energy | 4.0 | |
Consumer Staples | 1.2 | |
Materials | 0.2 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.1% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.7% | |||
Entertainment - 4.9% | |||
Netflix, Inc. (a) | 43,923 | 20,818,184 | |
Universal Music Group NV | 777,938 | 20,553,912 | |
Warner Music Group Corp. Class A | 380,722 | 12,605,705 | |
53,977,801 | |||
Interactive Media & Services - 4.8% | |||
Alphabet, Inc. Class A (a) | 392,457 | 52,012,326 | |
Epic Games, Inc. (a)(b)(c) | 805 | 475,723 | |
52,488,049 | |||
TOTAL COMMUNICATION SERVICES | 106,465,850 | ||
CONSUMER DISCRETIONARY - 10.6% | |||
Automobiles - 0.4% | |||
BYD Co. Ltd. (H Shares) | 148,092 | 3,980,211 | |
Broadline Retail - 6.2% | |||
Amazon.com, Inc. (a) | 370,846 | 54,176,892 | |
MercadoLibre, Inc. (a) | 7,520 | 12,185,859 | |
Savers Value Village, Inc. (d) | 91,400 | 1,375,570 | |
67,738,321 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (a) | 59,469 | 7,513,313 | |
Booking Holdings, Inc. (a) | 2,069 | 6,467,073 | |
Flutter Entertainment PLC (a) | 42,845 | 6,690,892 | |
Kura Sushi U.S.A., Inc. Class A (a) | 15,670 | 979,062 | |
21,650,340 | |||
Specialty Retail - 1.0% | |||
TJX Companies, Inc. | 128,167 | 11,292,794 | |
Textiles, Apparel & Luxury Goods - 1.0% | |||
LVMH Moet Hennessy Louis Vuitton SE | 7,486 | 5,725,959 | |
Samsonite International SA (a)(e) | 1,877,598 | 5,480,424 | |
11,206,383 | |||
TOTAL CONSUMER DISCRETIONARY | 115,868,049 | ||
CONSUMER STAPLES - 1.2% | |||
Beverages - 0.8% | |||
Monster Beverage Corp. | 170,358 | 9,395,244 | |
Personal Care Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 32,700 | 4,175,463 | |
TOTAL CONSUMER STAPLES | 13,570,707 | ||
ENERGY - 4.0% | |||
Energy Equipment & Services - 0.5% | |||
Baker Hughes Co. Class A | 159,734 | 5,391,023 | |
Oil, Gas & Consumable Fuels - 3.5% | |||
Cheniere Energy, Inc. | 96,700 | 17,613,905 | |
New Fortress Energy, Inc. (d) | 69,427 | 2,671,551 | |
Range Resources Corp. | 176,268 | 5,728,710 | |
Reliance Industries Ltd. | 380,653 | 10,853,333 | |
Southwestern Energy Co. (a) | 251,100 | 1,654,749 | |
38,522,248 | |||
TOTAL ENERGY | 43,913,271 | ||
FINANCIALS - 5.2% | |||
Capital Markets - 1.3% | |||
Ares Management Corp. | 20,000 | 2,245,000 | |
CME Group, Inc. | 56,741 | 12,389,965 | |
14,634,965 | |||
Financial Services - 2.8% | |||
Apollo Global Management, Inc. | 10,800 | 993,600 | |
Corebridge Financial, Inc. | 109,100 | 2,294,373 | |
Fiserv, Inc. (a) | 17,200 | 2,246,492 | |
Global Payments, Inc. | 23,300 | 2,713,052 | |
MasterCard, Inc. Class A | 48,083 | 19,898,188 | |
One97 Communications Ltd. (a) | 81,848 | 859,726 | |
Rocket Companies, Inc. (a)(d) | 195,746 | 1,828,268 | |
30,833,699 | |||
Insurance - 1.1% | |||
Arthur J. Gallagher & Co. | 39,069 | 9,728,181 | |
BRP Group, Inc. (a) | 97,924 | 1,712,691 | |
11,440,872 | |||
TOTAL FINANCIALS | 56,909,536 | ||
HEALTH CARE - 15.3% | |||
Biotechnology - 4.1% | |||
Adamas Pharmaceuticals, Inc.: | |||
rights (a)(c) | 220,830 | 55,208 | |
rights (a)(c) | 220,830 | 24,291 | |
Alnylam Pharmaceuticals, Inc. (a) | 38,972 | 6,557,039 | |
Arcellx, Inc. (a) | 8,979 | 471,667 | |
Arrowhead Pharmaceuticals, Inc. (a) | 14,300 | 303,160 | |
Beam Therapeutics, Inc. (a) | 9,466 | 265,805 | |
BioMarin Pharmaceutical, Inc. (a) | 22,300 | 2,031,084 | |
Blueprint Medicines Corp. (a) | 5,700 | 396,948 | |
Cerevel Therapeutics Holdings (a) | 13,500 | 350,055 | |
Cytokinetics, Inc. (a) | 30,861 | 1,033,226 | |
Galapagos NV sponsored ADR (a) | 58,186 | 2,177,902 | |
Gamida Cell Ltd. (a)(d) | 266,229 | 82,531 | |
Gamida Cell Ltd. warrants 4/21/28 (a) | 59,930 | 1,764 | |
Hookipa Pharma, Inc. (a) | 134,300 | 76,417 | |
Immunocore Holdings PLC ADR (a) | 23,585 | 1,243,637 | |
Insmed, Inc. (a) | 92,046 | 2,302,991 | |
Legend Biotech Corp. ADR (a) | 22,502 | 1,368,572 | |
Regeneron Pharmaceuticals, Inc. (a) | 11,247 | 9,265,391 | |
Repligen Corp. (a) | 24,468 | 3,847,593 | |
Sarepta Therapeutics, Inc. (a) | 7,300 | 593,344 | |
Seres Therapeutics, Inc. (a) | 54,600 | 56,784 | |
Synlogic, Inc. (a) | 10,646 | 26,615 | |
Vertex Pharmaceuticals, Inc. (a) | 32,361 | 11,482,006 | |
Vor Biopharma, Inc. (a) | 94,674 | 175,147 | |
XOMA Corp. (a) | 44,507 | 660,484 | |
44,849,661 | |||
Health Care Equipment & Supplies - 3.3% | |||
Axonics Modulation Technologies, Inc. (a) | 39,900 | 2,234,001 | |
Boston Scientific Corp. (a) | 433,374 | 24,221,273 | |
Inspire Medical Systems, Inc. (a) | 9,100 | 1,322,321 | |
Lantheus Holdings, Inc. (a) | 10,000 | 716,200 | |
Masimo Corp. (a) | 67,900 | 6,366,304 | |
Penumbra, Inc. (a) | 6,927 | 1,538,417 | |
36,398,516 | |||
Health Care Providers & Services - 2.5% | |||
HealthEquity, Inc. (a) | 148,854 | 9,976,195 | |
UnitedHealth Group, Inc. | 32,073 | 17,735,407 | |
27,711,602 | |||
Health Care Technology - 0.2% | |||
Evolent Health, Inc. | 53,800 | 1,495,640 | |
Life Sciences Tools & Services - 2.3% | |||
Agilent Technologies, Inc. | 8,400 | 1,073,520 | |
Bio-Techne Corp. | 34,702 | 2,182,756 | |
Bruker Corp. | 69,816 | 4,544,323 | |
Chemometec A/S | 6,300 | 315,522 | |
Codexis, Inc. (a) | 161,901 | 382,086 | |
Danaher Corp. | 30,551 | 6,822,344 | |
Sartorius Stedim Biotech | 14,383 | 3,231,377 | |
Thermo Fisher Scientific, Inc. | 14,280 | 7,079,453 | |
25,631,381 | |||
Pharmaceuticals - 2.9% | |||
Aclaris Therapeutics, Inc. (a) | 19,672 | 17,207 | |
AstraZeneca PLC sponsored ADR | 84,960 | 5,487,566 | |
Eli Lilly & Co. | 44,598 | 26,359,202 | |
31,863,975 | |||
TOTAL HEALTH CARE | 167,950,775 | ||
INDUSTRIALS - 13.2% | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 6,283 | 485,362 | |
Electrical Equipment - 1.3% | |||
Eaton Corp. PLC | 58,560 | 13,333,526 | |
HD Hyundai Electric Co. Ltd. | 14,000 | 905,797 | |
14,239,323 | |||
Ground Transportation - 4.3% | |||
Uber Technologies, Inc. (a) | 834,476 | 47,047,757 | |
Industrial Conglomerates - 1.5% | |||
General Electric Co. | 138,352 | 16,851,274 | |
Machinery - 2.1% | |||
Energy Recovery, Inc. (a) | 39,552 | 753,861 | |
Ingersoll Rand, Inc. | 159,840 | 11,417,371 | |
Parker Hannifin Corp. | 17,013 | 7,369,691 | |
Westinghouse Air Brake Tech Co. | 25,841 | 3,012,027 | |
22,552,950 | |||
Passenger Airlines - 0.5% | |||
Ryanair Holdings PLC sponsored ADR (a) | 50,598 | 5,981,696 | |
Professional Services - 2.6% | |||
Equifax, Inc. | 69,384 | 15,105,591 | |
KBR, Inc. | 183,213 | 9,466,616 | |
TransUnion Holding Co., Inc. | 63,655 | 3,737,822 | |
28,310,029 | |||
Trading Companies & Distributors - 0.9% | |||
Ferguson PLC | 57,910 | 9,781,915 | |
TOTAL INDUSTRIALS | 145,250,306 | ||
INFORMATION TECHNOLOGY - 39.8% | |||
Electronic Equipment, Instruments & Components - 1.4% | |||
Flex Ltd. (a) | 344,984 | 8,779,843 | |
Jabil, Inc. | 59,415 | 6,851,738 | |
15,631,581 | |||
IT Services - 2.0% | |||
Gartner, Inc. (a) | 11,067 | 4,812,374 | |
MongoDB, Inc. Class A (a) | 30,291 | 12,593,180 | |
Snowflake, Inc. (a) | 27,100 | 5,086,128 | |
22,491,682 | |||
Semiconductors & Semiconductor Equipment - 13.0% | |||
Aixtron AG | 106,664 | 3,879,027 | |
Allegro MicroSystems LLC (a) | 45,937 | 1,250,405 | |
Arm Holdings Ltd. ADR (d) | 8,800 | 541,200 | |
ASML Holding NV (depository receipt) | 11,234 | 7,681,360 | |
BE Semiconductor Industries NV | 56,876 | 7,952,279 | |
eMemory Technology, Inc. | 4,207 | 337,005 | |
KLA Corp. | 12,796 | 6,968,958 | |
Marvell Technology, Inc. | 39,622 | 2,208,134 | |
Monolithic Power Systems, Inc. | 6,596 | 3,619,357 | |
NVIDIA Corp. | 153,752 | 71,909,810 | |
NXP Semiconductors NV | 42,881 | 8,751,154 | |
SiTime Corp. (a) | 41,843 | 4,627,836 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 171,896 | 16,727,200 | |
Universal Display Corp. | 37,555 | 6,354,306 | |
142,808,031 | |||
Software - 19.0% | |||
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | 294,232 | 662,022 | |
Confluent, Inc. (a) | 208,808 | 4,430,906 | |
HubSpot, Inc. (a) | 14,960 | 7,389,193 | |
Manhattan Associates, Inc. (a) | 35,624 | 7,945,933 | |
Microsoft Corp. | 435,644 | 165,069,865 | |
NICE Ltd. sponsored ADR (a) | 18,244 | 3,461,799 | |
Oracle Corp. | 123,608 | 14,364,486 | |
ServiceNow, Inc. (a) | 6,423 | 4,404,508 | |
Volue A/S (a) | 181,855 | 308,247 | |
208,036,959 | |||
Technology Hardware, Storage & Peripherals - 4.4% | |||
Apple, Inc. | 254,104 | 48,267,055 | |
TOTAL INFORMATION TECHNOLOGY | 437,235,308 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.1% | |||
Aspen Aerogels, Inc. (a)(d) | 73,902 | 774,493 | |
TOTAL COMMON STOCKS (Cost $639,637,169) | 1,087,938,295 | ||
Convertible Preferred Stocks - 0.3% | |||
Shares | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (b)(c) | 106 | 118,501 | |
Series A2 (b)(c) | 19 | 21,241 | |
139,742 | |||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 26,300 | 79,163 | |
INFORMATION TECHNOLOGY - 0.2% | |||
Software - 0.2% | |||
ASAPP, Inc.: | |||
Series C (a)(b)(c) | 90,925 | 264,592 | |
Series D (b)(c) | 512,827 | 1,323,094 | |
1,587,686 | |||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Illuminated Holdings, Inc.: | |||
Series C2 (a)(b)(c) | 21,131 | 486,436 | |
Series C3 (a)(b)(c) | 26,414 | 608,050 | |
Series C4 (a)(b)(c) | 6,345 | 146,062 | |
Series C5 (a)(b)(c) | 13,150 | 302,713 | |
1,543,261 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $4,940,979) | 3,349,852 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (f) | Value ($) | ||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
Illuminated Holdings, Inc. 0% (b)(c)(g) (Cost $248,100) | 248,100 | 248,621 | |
Preferred Securities - 0.0% | |||
Principal Amount (f) | Value ($) | ||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
Illuminated Holdings, Inc. 0% (b)(c)(g) (Cost $308,400) | 308,400 | 308,585 | |
Money Market Funds - 1.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (h) | 11,951,565 | 11,953,955 | |
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i) | 6,520,753 | 6,521,405 | |
TOTAL MONEY MARKET FUNDS (Cost $18,475,360) | 18,475,360 | ||
TOTAL INVESTMENT IN SECURITIES - 101.1% (Cost $663,610,008) | 1,110,320,713 |
NET OTHER ASSETS (LIABILITIES) - (1.1)% | (12,528,297) |
NET ASSETS - 100.0% | 1,097,792,416 |
(a) | Non-income producing |
(b) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,044,803 or 0.5% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | 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 $5,480,424 or 0.5% of net assets. |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | Security is perpetual in nature with no stated maturity date. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(i) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
ASAPP, Inc. Series C | 4/30/21 | 599,841 |
ASAPP, Inc. Series D | 8/29/23 | 1,980,281 |
Canva, Inc. Series A | 9/22/23 | 113,066 |
Canva, Inc. Series A2 | 9/22/23 | 20,267 |
ElevateBio LLC Series C | 3/09/21 | 110,329 |
Epic Games, Inc. | 3/29/21 | 712,425 |
Illuminated Holdings, Inc. Series C2 | 7/07/20 | 528,275 |
Illuminated Holdings, Inc. Series C3 | 7/07/20 | 792,420 |
Illuminated Holdings, Inc. Series C4 | 1/08/21 | 228,420 |
Illuminated Holdings, Inc. Series C5 | 6/16/21 | 568,080 |
Illuminated Holdings, Inc. 0% | 6/14/23 - 9/27/23 | 556,500 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 8,265,413 | 370,473,503 | 366,784,961 | 376,795 | - | - | 11,953,955 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 7,581,305 | 111,112,720 | 112,172,620 | 131,419 | - | - | 6,521,405 | 0.0% |
Total | 15,846,718 | 481,586,223 | 478,957,581 | 508,214 | - | - | 18,475,360 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 106,465,850 | 85,436,215 | 20,553,912 | 475,723 |
Consumer Discretionary | 116,007,791 | 111,887,838 | 3,980,211 | 139,742 |
Consumer Staples | 13,570,707 | 13,570,707 | - | - |
Energy | 43,913,271 | 43,913,271 | - | - |
Financials | 56,909,536 | 56,909,536 | - | - |
Health Care | 168,029,938 | 167,869,512 | 1,764 | 158,662 |
Industrials | 145,250,306 | 145,250,306 | - | - |
Information Technology | 438,822,994 | 436,573,286 | - | 2,249,708 |
Materials | 2,317,754 | 774,493 | - | 1,543,261 |
Corporate Bonds | 248,621 | - | - | 248,621 |
Preferred Securities | 308,585 | - | - | 308,585 |
Money Market Funds | 18,475,360 | 18,475,360 | - | - |
Total Investments in Securities: | 1,110,320,713 | 1,080,660,524 | 24,535,887 | 5,124,302 |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $6,355,263) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $645,134,648) | $ | 1,091,845,353 | ||
Fidelity Central Funds (cost $18,475,360) | 18,475,360 | |||
Total Investment in Securities (cost $663,610,008) | $ | 1,110,320,713 | ||
Foreign currency held at value (cost $3) | 3 | |||
Receivable for investments sold | 36,046,247 | |||
Receivable for fund shares sold | 42,872 | |||
Dividends receivable | 635,492 | |||
Distributions receivable from Fidelity Central Funds | 23,209 | |||
Other receivables | 97 | |||
Total assets | 1,147,068,633 | |||
Liabilities | ||||
Payable for investments purchased | $ | 3,453,681 | ||
Payable for fund shares redeemed | 38,925,412 | |||
Accrued management fee | 65 | |||
Other payables and accrued expenses | 376,434 | |||
Collateral on securities loaned | 6,520,625 | |||
Total Liabilities | 49,276,217 | |||
Net Assets | $ | 1,097,792,416 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 592,809,491 | ||
Total accumulated earnings (loss) | 504,982,925 | |||
Net Assets | $ | 1,097,792,416 | ||
Net Asset Value, offering price and redemption price per share ($1,097,792,416 ÷ 70,283,370 shares) | $ | 15.62 |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 7,340,745 | ||
Income from Fidelity Central Funds (including $131,419 from security lending) | 508,214 | |||
Total Income | 7,848,959 | |||
Expenses | ||||
Custodian fees and expenses | $ | 38,706 | ||
Independent trustees' fees and expenses | 5,782 | |||
Interest | 35,745 | |||
Miscellaneous | 15 | |||
Total expenses before reductions | 80,248 | |||
Expense reductions | (8,513) | |||
Total expenses after reductions | 71,735 | |||
Net Investment income (loss) | 7,777,224 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $391,875) | 64,303,366 | |||
Foreign currency transactions | 28,235 | |||
Total net realized gain (loss) | 64,331,601 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of decrease in deferred foreign taxes of $477,387) | 144,584,946 | |||
Assets and liabilities in foreign currencies | (19,795) | |||
Total change in net unrealized appreciation (depreciation) | 144,565,151 | |||
Net gain (loss) | 208,896,752 | |||
Net increase (decrease) in net assets resulting from operations | $ | 216,673,976 |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 7,777,224 | $ | 8,320,846 |
Net realized gain (loss) | 64,331,601 | 45,053,325 | ||
Change in net unrealized appreciation (depreciation) | 144,565,151 | (251,222,565) | ||
Net increase (decrease) in net assets resulting from operations | 216,673,976 | (197,848,394) | ||
Distributions to shareholders | (49,123,120) | (197,714,407) | ||
Share transactions | ||||
Proceeds from sales of shares | 213,107,203 | 273,453,496 | ||
Reinvestment of distributions | 49,123,120 | 197,714,406 | ||
Cost of shares redeemed | (314,349,998) | (216,449,387) | ||
Net increase (decrease) in net assets resulting from share transactions | (52,119,675) | 254,718,515 | ||
Total increase (decrease) in net assets | 115,431,181 | (140,844,286) | ||
Net Assets | ||||
Beginning of period | 982,361,235 | 1,123,205,521 | ||
End of period | $ | 1,097,792,416 | $ | 982,361,235 |
Other Information | ||||
Shares | ||||
Sold | 15,692,482 | 19,207,680 | ||
Issued in reinvestment of distributions | 3,914,193 | 12,026,424 | ||
Redeemed | (22,386,584) | (15,067,731) | ||
Net increase (decrease) | (2,779,909) | 16,166,373 | ||
Fidelity Advisor® Series Equity Growth Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.45 | $ | 19.74 | $ | 19.73 | $ | 15.53 | $ | 14.20 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .11 | .12 | .17 C | .10 | .12 | |||||
Net realized and unrealized gain (loss) | 2.74 | (2.96) | 4.20 | 6.02 | 2.33 | |||||
Total from investment operations | 2.85 | (2.84) | 4.37 | 6.12 | 2.45 | |||||
Distributions from net investment income | (.11) | (.20) | (.13) | (.13) | (.13) | |||||
Distributions from net realized gain | (.57) | (3.26) | (4.23) | (1.79) | (.99) | |||||
Total distributions | (.68) | (3.45) D | (4.36) | (1.92) | (1.12) | |||||
Net asset value, end of period | $ | 15.62 | $ | 13.45 | $ | 19.74 | $ | 19.73 | $ | 15.53 |
Total Return E | 22.44% | (17.55)% | 27.43% | 44.43% | 19.73% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .01% | -% H | .01% | .01% | .01% | |||||
Expenses net of fee waivers, if any | .01% | -% H | -% H | .01% | .01% | |||||
Expenses net of all reductions | .01% | -% H | -% H | .01% | .01% | |||||
Net investment income (loss) | .77% | .84% | .95% C | .65% | .84% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 1,097,792 | $ | 982,361 | $ | 1,123,206 | $ | 1,007,642 | $ | 977,722 |
Portfolio turnover rate I | 63% | 49% | 51% | 56% | 52% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $464,672,314 |
Gross unrealized depreciation | (18,864,480) |
Net unrealized appreciation (depreciation) | $445,807,834 |
Tax Cost | $664,512,879 |
Undistributed ordinary income | $6,966,293 |
Undistributed long-term capital gain | $52,572,228 |
Net unrealized appreciation (depreciation) on securities and other investments | $445,810,769 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $8,151,120 | $46,480,631 |
Long-term Capital Gains | 40,972,000 | 151,233,776 |
Total | $49,123,120 | $197,714,407 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Series Equity Growth Fund | 628,259,365 | 720,071,412 |
Amount | |
Fidelity Advisor Series Equity Growth Fund | $8,490 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Series Equity Growth Fund | Borrower | $ 14,924,812 | 5.39% | $35,745 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Series Equity Growth Fund | 27,941,949 | 57,194,793 | 4,208,830 |
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 Series Equity Growth Fund | $14,149 | $6,281 | $842,800 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Series Equity Growth Fund | .01% | |||||||||
Actual | $ 1,000 | $ 1,127.80 | $ .05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.02 | $ .05 | |||||||
A special meeting of shareholders was held on April 19, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To reclassify the diversification status of the fund from diversified to non-diversified by eliminating the following fundamental policy: The fund may not with respect to 75% of fund's total assets, purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or securities of other investment companies) if, as a result, (a) more than 5% of fund's total assets would be invested in the securities of that issuer, or (b) the fund would hold more than 10% of outstanding voting securities of issuer. | ||
# of Votes | % of Votes | |
Affirmative | 994,977,247.020 | 100.000 |
Against | 0.000 | 0.000 |
Abstain | 0.000 | 0.000 |
TOTAL | 994,977,247.020 | 100.000 |
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Real Estate High Income Fund | -2.44% | -0.14% | 2.22% |
$1,000,000 Over 10 Years | |
Let's say hypothetically that $1,000,000 was invested in Fidelity® Real Estate High Income Fund on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Bloomberg U.S. CMBS ex AAA Index performed over the same period. | |
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
BX Trust | 9.4 | |
Benchmark Mortgage Trust | 6.3 | |
BBCMS Mortgage Trust | 5.8 | |
BANK | 5.5 | |
BX Commercial Mortgage Trust | 5.2 | |
Morgan Stanley Capital I Trust | 3.9 | |
JPMorgan Chase Commercial Mortgage Securities Trust | 3.8 | |
GS Mortgage Securities Trust | 3.2 | |
Morgan Stanley BAML Trust | 3.2 | |
Wells Fargo Commercial Mortgage Trust | 3.1 | |
49.4 | ||
Top REIT Sectors (% of Fund's net assets) | ||
Homebuilders/Real Estate | 2.0 | |
Diversified Financial Services | 1.5 | |
Hotels | 0.2 | |
Quality Diversification (% of Fund's net assets) |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Asset Allocation (% of Fund's net assets) |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Nonconvertible Bonds - 2.2% | |||
Principal Amount (a) | Value ($) | ||
Homebuilders/Real Estate - 2.0% | |||
American Tower Corp.: | |||
4.05% 3/15/32 | 1,785,000 | 1,598,027 | |
5.65% 3/15/33 | 2,000,000 | 1,992,874 | |
Invitation Homes Operating Partnership LP 5.5% 8/15/33 | 2,455,000 | 2,345,042 | |
NNN (REIT), Inc. 5.6% 10/15/33 | 2,485,000 | 2,429,760 | |
Uniti Group LP / Uniti Group Finance, Inc. 10.5% 2/15/28 (b) | 1,635,000 | 1,608,219 | |
TOTAL HOMEBUILDERS/REAL ESTATE | 9,973,922 | ||
Hotels - 0.2% | |||
Times Square Hotel Trust 8.528% 8/1/26 (b) | 1,182,533 | 1,171,000 | |
TOTAL NONCONVERTIBLE BONDS (Cost $11,270,121) | 11,144,922 | ||
Asset-Backed Securities - 2.0% | |||
Principal Amount (a) | Value ($) | ||
American Homes 4 Rent Series 2015-SFR2 Class XS, 0% 10/17/52 (b)(c)(d)(e) | 2,512,878 | 25 | |
Capital Trust RE CDO Ltd. Series 2005-1A: | |||
Class D, CME Term SOFR 1 Month Index + 1.610% 3.3464% 3/20/50 (b)(c)(e)(f) | 750,000 | 0 | |
Class E, CME Term SOFR 1 Month Index + 2.210% 3.9464% 3/20/50 (b)(c)(e)(f) | 2,670,000 | 0 | |
Crest Ltd. Series 2004-1A Class H1, 3 month U.S. LIBOR + 3.690% 8.9627% (b)(c)(e)(f)(g) | 3,078,262 | 0 | |
Home Partners of America Trust: | |||
Series 2019-2 Class F, 3.866% 10/19/39 (b) | 2,031,441 | 1,716,237 | |
Series 2021-1 Class F, 3.325% 9/17/41 (b) | 889,460 | 660,693 | |
Series 2021-2 Class G, 4.505% 12/17/26 (b) | 5,327,640 | 4,513,878 | |
Series 2021-3 Class F, 4.242% 1/17/41 (b) | 1,221,582 | 1,006,218 | |
Retained Vantage Data Ctrs Iss Series 2023-2A Class A2, 5.05% 9/15/48 (b) | 1,250,000 | 1,105,432 | |
Taberna Preferred Funding VI Ltd. Series 2006-6A Class F1, CME Term SOFR 3 Month Index + 4.760% 10.1543% (b)(c)(e)(f)(g) | 6,444,661 | 1 | |
Tricon American Homes Series 2017-SFR2 Class F, 5.104% 1/17/36 (b) | 664,000 | 660,719 | |
Tricon Residential Trust Series 2021-SFR1 Class G, 4.133% 7/17/38 (b) | 672,000 | 588,159 | |
TOTAL ASSET-BACKED SECURITIES (Cost $19,227,939) | 10,251,362 | ||
Collateralized Mortgage Obligations - 0.3% | |||
Principal Amount (a) | Value ($) | ||
Private Sponsor - 0.3% | |||
COMM Mortgage Trust Series 2015-LC19 Class C, 4.3535% 2/10/48 (c) | 1,587,000 | 1,420,522 | |
Countrywide Home Loans, Inc. Series 2003-R1 Class 2B4, 3.3614% 2/25/43 (b)(c) | 26,514 | 3,002 | |
TOTAL PRIVATE SPONSOR | 1,423,524 | ||
U.S. Government Agency - 0.0% | |||
Fannie Mae REMIC Trust: | |||
Series 2002-W1 subordinate REMIC pass thru certificates, Class 3B3, 3.6895% 2/25/42 (b)(c)(e) | 22,353 | 9,003 | |
Series 2002-W6 subordinate REMIC pass thru certificates, Class 3B4, 4.6585% 1/25/42 (b)(c)(e) | 19,364 | 1,663 | |
Series 2003-W10 subordinate REMIC pass thru certificates: | |||
Class 2B4, 3.7539% 6/25/43 (c)(e)(h) | 74,794 | 28,126 | |
Class 2B5, 3.7539% 6/25/43 (c)(e)(h) | 7,878 | 424 | |
TOTAL U.S. GOVERNMENT AGENCY | 39,216 | ||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $1,435,177) | 1,462,740 | ||
Commercial Mortgage Securities - 91.1% | |||
Principal Amount (a) | Value ($) | ||
BAMLL Commercial Mortgage Securities Trust: | |||
floater Series 2019-RLJ Class D, CME Term SOFR 1 Month Index + 1.990% 7.32% 4/15/36 (b)(c)(f) | 4,028,000 | 3,979,982 | |
Series 2015-200P Class F, 3.7157% 4/14/33 (b)(c) | 2,588,000 | 2,277,804 | |
BANK: | |||
sequential payer: | |||
Series 2020-BN28 Class A4, 1.844% 3/15/63 | 1,612,000 | 1,269,738 | |
Series 2021-BN32 Class A5, 2.643% 4/15/54 | 730,000 | 599,639 | |
Series 2021-BN33 Class A5, 2.556% 5/15/64 | 1,584,000 | 1,286,436 | |
Series 2021-BN35 Class A5, 2.285% 6/15/64 | 2,650,000 | 2,100,914 | |
Series 2022-BNK39 Class A4, 2.928% 2/15/55 | 1,895,000 | 1,562,402 | |
Series 2022-BNK40, Class A4, 3.5066% 3/15/64 (c) | 742,000 | 634,141 | |
Series 2022-BNK42: | |||
Class D, 2.5% 6/15/55 (b) | 1,664,000 | 838,617 | |
Class E, 2.5% 6/15/55 (b) | 1,302,000 | 574,719 | |
Series 2022-BNK42, Class A5, 4.493% 6/15/55 (c) | 2,326,000 | 2,142,554 | |
Series 2023-BNK45 Class C, 6.4885% 2/15/56 (c) | 990,000 | 858,837 | |
Series 2017-BNK4 Class D, 3.357% 5/15/50 (b) | 2,308,000 | 1,123,467 | |
Series 2017-BNK8 Class E, 2.8% 11/15/50 (b) | 2,625,000 | 850,256 | |
Series 2018-BN10: | |||
Class B, 4.078% 2/15/61 (c) | 1,035,000 | 886,559 | |
Class C, 4.163% 2/15/61 (c) | 2,936,000 | 2,399,429 | |
Series 2019-BN22 Class D, 2.5% 11/15/62 (b)(e) | 2,465,000 | 1,367,575 | |
Series 2020-BN27 Class D, 2.5% 4/15/63 (b) | 921,000 | 489,597 | |
Series 2020-BN28: | |||
Class A/S, 2.14% 3/15/63 | 717,000 | 552,562 | |
Class E, 2.5% 3/15/63 (b) | 903,000 | 451,599 | |
Series 2020-BN30 Class MCDG, 3.0155% 12/15/53 (c) | 3,921,000 | 1,738,286 | |
Series 2022-BNK43 Class D, 3% 8/15/55 (b) | 2,614,000 | 1,316,373 | |
Series 2022-BNK44: | |||
Class A/S, 5.9368% 11/15/55 (c) | 1,225,000 | 1,183,871 | |
Class C, 5.9368% 11/15/55 (c) | 5,014,000 | 3,948,486 | |
Bank 2023-Bnk46: | |||
sequential payer Series 2023-BNK46 Class A4, 5.745% 8/15/56 | 2,458,000 | 2,476,999 | |
Series 2023-BNK46: | |||
Class B, 6.9992% 8/15/56 (c) | 1,675,000 | 1,662,140 | |
Class C, 6.9992% 8/15/56 (c) | 738,000 | 640,247 | |
Bank of America Commercial Mortgage Trust Series 2016-UB10 Class D, 3% 7/15/49 (b) | 726,000 | 533,840 | |
Bank5 2023-5Yr3 Series 2023-5YR3: | |||
Class A/S, 7.5592% 9/15/56 (c) | 956,000 | 981,722 | |
Class B, 7.5592% 9/15/56 (c) | 597,000 | 600,666 | |
Class C, 7.5592% 9/15/56 (c) | 597,000 | 557,921 | |
Bank5 2023-5Yr4 Series 2023-5YR4 Class C, 7.785% 12/15/56 (c) | 1,034,000 | 973,561 | |
Barclays Commercial Mortgage Securities sequential payer Series 2021-C12 Class A5, 2.689% 11/15/54 | 580,000 | 469,533 | |
Barclays Commercial Mortgage Securities LLC Series 2019-C5 Class D, 2.5% 11/15/52 (b) | 726,000 | 426,697 | |
BBCMS Series 2022-C15, Class A5, 3.662% 4/15/55 | 3,015,000 | 2,606,156 | |
BBCMS Mortgage Trust: | |||
sequential payer: | |||
Series 2020-C8 Class E, 2.25% 10/15/53 (b)(e) | 3,013,000 | 1,289,263 | |
Series 2022-C14 Class A5, 2.946% 2/15/55 | 3,302,000 | 2,708,826 | |
Series 2022-C17: | |||
Class A5, 4.441% 9/15/55 | 2,719,000 | 2,488,708 | |
Class D, 2.5% 9/15/55 (b)(e) | 1,200,000 | 558,965 | |
Series 2022-C18 Class A5, 5.71% 12/15/55 | 3,150,000 | 3,164,858 | |
Series 2023-C19 Class A5, 5.451% 4/15/56 | 2,015,000 | 1,980,954 | |
Series 2016-ETC Class D, 3.7292% 8/14/36 (b)(c) | 1,749,000 | 1,387,185 | |
Series 2020-C7: | |||
Class A/S, 2.444% 4/15/53 | 225,000 | 174,648 | |
Class B, 3.152% 4/15/53 | 853,000 | 623,854 | |
Series 2022-C16 Class A5, 4.6% 6/15/55 | 4,573,000 | 4,240,363 | |
Series 2022-C17 Class B, 4.889% 9/15/55 | 1,491,000 | 1,221,712 | |
Series 2022-C18, Class B, 6.3478% 12/15/55 (c) | 1,890,000 | 1,720,074 | |
Series 2023 C19 Class B, 6.5456% 4/15/56 (c) | 1,080,000 | 997,091 | |
BBCMS Mortgage Trust 2023-C20 sequential payer Series 2023-C20 Class A5, 5.576% 7/15/56 | 1,690,000 | 1,683,539 | |
Bbcms Mortgage Trust 2023-C21: | |||
sequential payer Series 2023-C21 Class A/S, 6.5061% 9/15/56 (c) | 1,196,000 | 1,186,557 | |
Series 2023-C21 Class C, 6.5061% 9/15/56 (c) | 2,386,000 | 2,047,626 | |
Bbcms Mtg Trust 2023-5C23 Series 2023-5C23 Class B, 7.7032% 12/15/56 (c) | 1,469,000 | 1,487,739 | |
Bbcms Mtg Trust 2023-C22 sequential payer Series 2023-C22 Class C, 7.1261% 11/15/56 | 2,140,000 | 2,027,677 | |
Benchmark 2023-B39 C Mtg Trust: | |||
sequential payer Series 2023-B39 Class A5, 5.7536% 7/15/56 | 2,714,000 | 2,717,374 | |
Series 2023-B39 Class C, 6.7939% 7/15/56 (c) | 1,859,000 | 1,634,755 | |
Benchmark 2023-V4 Mtg Trust Series 2023-V4: | |||
Class B, 7.4604% 11/15/56 | 1,075,000 | 1,089,945 | |
Class C, 7.4604% 11/15/56 | 1,075,000 | 1,001,693 | |
Benchmark Mortgage Trust: | |||
sequential payer: | |||
Series 2019-B14: | |||
Class 225D, 3.4041% 12/15/62 (b)(c) | 1,680,000 | 87,723 | |
Class 225E, 3.4041% 12/15/62 (b)(c)(e) | 1,132,000 | 27,930 | |
Series 2020-B21 Class A5, 1.9775% 12/17/53 | 1,691,000 | 1,307,321 | |
Series 2020-B22, Class A5, 1.973% 1/15/54 | 1,484,000 | 1,145,244 | |
Series 2021-B29, Class A5, 2.3879% 9/15/54 | 2,055,000 | 1,624,335 | |
Series 2022-B33 Class A5, 3.4582% 3/15/55 | 2,477,000 | 2,114,377 | |
Series 2022-B34 Class A5, 3.786% 4/15/55 | 1,341,000 | 1,109,662 | |
Series 2022-B36 Class A5, 4.4699% 7/15/55 | 1,233,000 | 1,123,774 | |
Series 2022-B37 Class A5, 5.751% 11/15/55 (c) | 1,427,000 | 1,436,093 | |
Series 2023-B38 Class A4, 5.5246% 4/15/56 | 1,264,000 | 1,242,342 | |
Series 2023-C5 Class A5, 5.7653% 6/15/56 | 1,463,000 | 1,472,192 | |
Series 2018-B7 Class D, 3% 5/15/53 (b)(c) | 833,000 | 517,674 | |
Series 2019-B12 Class B, 3.5702% 8/15/52 | 1,186,000 | 942,719 | |
Series 2020-B18: | |||
Class AGNG, 4.5348% 7/15/53 (b)(c) | 4,074,000 | 3,405,960 | |
Class D, 2.25% 7/15/53 (b)(e) | 1,500,000 | 701,164 | |
Series 2020-B21: | |||
Class A/S, 2.2543% 12/17/53 | 662,000 | 498,509 | |
Class D, 2% 12/17/53 (b)(e) | 1,638,000 | 772,968 | |
Series 2020-IG3 Class 825E, 3.0763% 9/15/48 (b)(c) | 3,049,000 | 2,182,828 | |
Series 2021-B25: | |||
Class 300D, 3.094% 4/15/54 (b)(c) | 6,055,000 | 3,479,412 | |
Class 300E, 2.9942% 4/15/54 (b)(c) | 1,113,000 | 658,645 | |
Series 2022 B37 Class B, 5.9427% 11/15/55 (c) | 980,000 | 853,824 | |
Series 2022-B35 Class D, 2.5% 5/15/55 (b) | 3,003,000 | 1,261,136 | |
Series 2022-B36: | |||
Class A/S, 4.9505% 7/15/55 | 1,190,000 | 1,039,353 | |
Class D, 2.5% 7/15/55 (b) | 1,872,000 | 822,983 | |
Series 2022-B37 Class C, 5.751% 11/15/55 (c) | 2,090,000 | 1,522,818 | |
Series 2023 B38 Class B, 6.4528% 4/15/56 (c) | 1,351,000 | 1,286,784 | |
Bmo 2023-5C1 Mtg Trust Series 2023-5C1: | |||
Class A/S, 7.355% 8/15/56 (c) | 3,276,000 | 3,345,193 | |
Class B, 6.96% 8/15/56 (c) | 553,000 | 545,907 | |
Bmo 2023-5C2 Mortgage Trust Series 2023-5C2 Class A5, 7.244% 11/15/56 (c) | 2,377,000 | 2,439,533 | |
Bmo 2023-C4 Mtg Trust Series 2023-C4: | |||
Class B, 5.5916% 2/15/56 (c) | 1,186,000 | 1,027,199 | |
Class C, 6.0588% 2/15/56 (c) | 1,147,000 | 928,598 | |
Bmo 2023-C6 Mtg Trust: | |||
sequential payer Series 2023-C6 Class A5, 5.9562% 9/15/56 | 1,193,000 | 1,214,077 | |
Series 2023-C6 Class A/S, 6.5504% 9/15/56 (c) | 1,229,000 | 1,244,115 | |
BMO Mortgage Trust: | |||
sequential payer Series 2022-C1 Class A5, 3.374% 2/15/55 | 3,142,000 | 2,663,204 | |
Series 2022-C1: | |||
Class 360D, 4.0699% 2/17/55 (b)(c) | 1,638,000 | 913,956 | |
Class 360E, 4.0699% 2/17/55 (b)(c) | 1,970,000 | 1,054,679 | |
BX Commercial Mortgage Trust: | |||
floater: | |||
Series 2020-VKNG: | |||
Class F, CME Term SOFR 1 Month Index + 2.860% 8.1874% 10/15/37 (b)(c)(f) | 950,600 | 918,956 | |
Class G, CME Term SOFR 1 Month Index + 3.360% 8.6874% 10/15/37 (b)(c)(f) | 1,258,600 | 1,203,865 | |
Series 2021-MC Class G, CME Term SOFR 1 Month Index + 3.200% 8.5243% 4/15/34 (b)(c)(f) | 1,572,000 | 1,286,391 | |
Series 2021-PAC Class G, CME Term SOFR 1 Month Index + 3.060% 8.3836% 10/15/36 (b)(c)(f) | 3,192,000 | 2,994,620 | |
Series 2021-VINO: | |||
Class F, CME Term SOFR 1 Month Index + 2.910% 8.2398% 5/15/38 (b)(c)(f) | 2,590,224 | 2,434,058 | |
Class G, CME Term SOFR 1 Month Index + 4.060% 9.3898% 5/15/38 (b)(c)(f) | 3,774,607 | 3,552,046 | |
Series 2020-VIVA: | |||
Class D, 3.667% 3/11/44 (b)(c) | 9,422,000 | 7,497,931 | |
Class E, 3.667% 3/11/44 (b)(c) | 8,563,000 | 6,541,742 | |
BX Trust: | |||
floater: | |||
Series 2019-XL Class J, CME Term SOFR 1 Month Index + 2.760% 8.0874% 10/15/36 (b)(c)(f) | 13,777,650 | 13,452,043 | |
Series 2021-ACNT Class G, CME Term SOFR 1 Month Index + 3.400% 8.7325% 11/15/38 (b)(c)(f) | 2,541,000 | 2,433,430 | |
Series 2021-LBA: | |||
Class FJV, CME Term SOFR 1 Month Index + 2.510% 7.8375% 2/15/36 (b)(c)(f) | 458,000 | 428,360 | |
Class GJV, CME Term SOFR 1 Month Index + 3.110% 8.4375% 2/15/36 (b)(c)(f) | 1,033,000 | 953,396 | |
Series 2021-MFM1: | |||
Class F, CME Term SOFR 1 Month Index + 3.110% 8.4375% 1/15/34 (b)(c)(f) | 639,062 | 611,137 | |
Class G, CME Term SOFR 1 Month Index + 4.010% 9.3375% 1/15/34 (b)(c)(f) | 319,531 | 303,941 | |
Series 2021-SOAR: | |||
Class G, CME Term SOFR 1 Month Index + 2.910% 8.2375% 6/15/38 (b)(c)(f) | 3,416,530 | 3,214,260 | |
Class J, CME Term SOFR 1 Month Index + 3.860% 9.1875% 6/15/38 (b)(c)(f) | 2,785,215 | 2,610,860 | |
Series 2021-VOLT Class G, CME Term SOFR 1 Month Index + 2.960% 8.2874% 9/15/36 (b)(c)(f) | 4,955,000 | 4,633,651 | |
Series 2022-LBA6 Class F, CME Term SOFR 1 Month Index + 3.350% 8.6729% 1/15/39 (b)(c)(f) | 4,315,000 | 4,116,039 | |
sequential payer Series 2019-OC11 Class A, 3.202% 12/9/41 (b) | 4,453,000 | 3,809,690 | |
Series 2019-OC11 Class E, 4.0755% 12/9/41 (b)(c) | 14,678,000 | 11,898,291 | |
BXP Trust Series 2021-601L Class E, 2.868% 1/15/44 (b)(c) | 709,000 | 367,536 | |
CAMB Commercial Mortgage Trust floater Series 2019-LIFE Class G, CME Term SOFR 1 Month Index + 3.290% 8.62% 12/15/37 (b)(c)(f) | 8,968,000 | 8,597,330 | |
CD Mortgage Trust Series 2017-CD3 Class D, 3.25% 2/10/50 (b)(e) | 4,073,000 | 1,248,446 | |
Citigroup Commercial Mortgage Series 2023-SMRT Class D, 6.0475% 10/12/40 (b)(c) | 2,611,000 | 2,450,075 | |
Citigroup Commercial Mortgage Trust: | |||
sequential payer Series 2019-C7 Class A4, 3.102% 12/15/72 | 1,859,000 | 1,610,730 | |
Series 2020-420K: | |||
Class D, 3.4222% 11/10/42 (b)(c) | 536,000 | 401,499 | |
Class E, 3.4222% 11/10/42 (b)(c) | 2,081,000 | 1,446,619 | |
Series 2022-GC48 Class D, 2.5% 6/15/55 (b) | 3,129,000 | 1,449,589 | |
Citigroup Commercial Mtg Trust 2023-Prm Series 2023-PRM3 Class D, 6.5717% 7/10/28 (b)(c) | 1,383,000 | 1,308,111 | |
COMM Mortgage Trust: | |||
floater Series 2018-HCLV Class G, CME Term SOFR 1 Month Index + 5.350% 10.6753% 9/15/33 (b)(c)(f) | 1,487,000 | 550,512 | |
sequential payer Series 2013-LC6 Class E, 3.5% 1/10/46 (b) | 2,840,000 | 2,262,147 | |
Series 2012-CR1: | |||
Class D, 5.3084% 5/15/45 (b)(c) | 2,317,618 | 1,622,332 | |
Class G, 2.462% 5/15/45 (b)(e) | 441,549 | 8,736 | |
Series 2014-CR17 Class E, 4.9706% 5/10/47 (b)(c) | 589,000 | 418,783 | |
Series 2014-CR20 Class AM, 3.938% 11/10/47 | 299,000 | 287,353 | |
Series 2015-3BP Class F, 3.3463% 2/10/35 (b)(c) | 4,405,000 | 3,742,134 | |
Series 2015-LC19 Class B, 3.829% 2/10/48 | 192,000 | 176,838 | |
Series 2017-CD4 Class D, 3.3% 5/10/50 (b) | 356,070 | 209,829 | |
Series 2019-CD4 Class C, 4.3497% 5/10/50 (c) | 1,920,000 | 1,366,210 | |
COMM Trust Series 2017-COR2 Class D, 3% 9/10/50 (b) | 1,146,000 | 754,798 | |
Commercial Mortgage Trust Series 2016-CD2 Class D, 2.8604% 11/10/49 (c) | 1,680,000 | 860,926 | |
Commercial Mortgage Trust pass-thru certificates: | |||
Series 2012-CR2: | |||
Class E, 4.7368% 8/15/45 (b)(c) | 1,575,506 | 1,418,743 | |
Class F, 4.25% 8/15/45 (b) | 2,540,000 | 1,938,020 | |
Series 2014-CR2 Class G, 4.25% 8/15/45 (b) | 1,556,000 | 698,644 | |
CPT Mortgage Trust sequential payer Series 2019-CPT: | |||
Class E, 3.0967% 11/13/39 (b)(c) | 1,785,000 | 1,058,319 | |
Class F, 3.0967% 11/13/39 (b)(c) | 2,772,000 | 1,560,908 | |
Credit Suisse Commercial Mortgage Trust floater Series 2021-SOP2 Class F, CME Term SOFR 1 Month Index + 4.330% 9.6543% 6/15/34 (b)(e)(f) | 2,561,600 | 975,388 | |
Credit Suisse Mortgage Trust Series 2021-BRIT Class A, CME Term SOFR 1 Month Index + 3.570% 8.8967% 5/15/26 (b)(c)(f) | 3,269,728 | 2,936,801 | |
CSAIL Commercial Mortgage Trust Series 2019-C18 Class A/S, 3.3214% 12/15/52 | 921,000 | 758,780 | |
Csmc 2019-Uvil Series 2019-UVIL Class E, 3.3928% 12/15/41 (b)(c) | 5,161,000 | 3,734,500 | |
DBGS Mortgage Trust: | |||
Series 2018-C1 Class C, 4.7974% 10/15/51 (c) | 777,000 | 585,403 | |
Series 2019-1735 Class F, 4.3344% 4/10/37 (b)(c)(e) | 1,000,000 | 588,708 | |
DC Office Trust Series 2019-MTC Class E, 3.1744% 9/15/45 (b)(c) | 1,029,000 | 511,841 | |
ELP Commercial Mortgage Trust floater Series 2021-ELP: | |||
Class G, CME Term SOFR 1 Month Index + 3.230% 8.5535% 11/15/38 (b)(c)(f) | 1,248,547 | 1,159,647 | |
Class J, CME Term SOFR 1 Month Index + 3.720% 9.0524% 11/15/38 (b)(c)(f) | 4,564,687 | 4,228,737 | |
Extended Stay America Trust floater Series 2021-ESH Class F, CME Term SOFR 1 Month Index + 3.810% 9.1375% 7/15/38 (b)(c)(f) | 3,421,173 | 3,326,037 | |
Fs 2023-4Szn Series 2023-4SZN: | |||
Class C, 8.1209% 11/10/39 (b)(c) | 2,568,000 | 2,617,005 | |
Class D, 9.0801% 11/10/39 (b)(c) | 594,000 | 607,029 | |
GS Mortgage Securities Corp. II Series 2010-C1 Class B, 5.148% 8/10/43 (b) | 119,338 | 117,360 | |
GS Mortgage Securities Corp. Trust floater Series 2019-70P Class F, CME Term SOFR 1 Month Index + 2.760% 8.3375% 10/15/36 (b)(c)(f) | 2,550,000 | 2,275,802 | |
GS Mortgage Securities Trust: | |||
sequential payer: | |||
Series 2019-GSA1 Class A4, 3.0479% 11/10/52 | 2,965,000 | 2,544,634 | |
Series 2020-GC45 Class A5, 2.9106% 2/13/53 | 2,586,000 | 2,193,574 | |
Series 2011-GC5: | |||
Class D, 5.2985% 8/10/44 (b)(c) | 1,929,752 | 566,877 | |
Class E, 5.2985% 8/10/44 (b)(c) | 2,432,000 | 243,226 | |
Class F, 4.5% 8/10/44 (b)(e) | 4,308,000 | 12,924 | |
Series 2012-GCJ9 Class D, 4.7543% 11/10/45 (b)(c) | 3,489,883 | 3,132,035 | |
Series 2016-GS2 Class D, 2.753% 5/10/49 (b) | 2,058,050 | 1,594,386 | |
Series 2019-GC38 Class D, 3% 2/10/52 (b) | 1,162,000 | 730,243 | |
Series 2019-GC39 Class D, 3% 5/10/52 (b)(e) | 2,830,000 | 1,469,107 | |
Series 2019-GC42: | |||
Class C, 3.8166% 9/10/52 (c) | 831,000 | 605,996 | |
Class D, 2.8% 9/10/52 (b) | 2,307,000 | 1,263,658 | |
Series 2019-GS5 Class C, 4.299% 3/10/50 (c)(e) | 2,499,000 | 1,458,016 | |
Series 2020-GC45 Class SWD, 3.3258% 12/13/39 (b)(c) | 1,764,000 | 1,155,957 | |
Series 2020-GC47 Class D, 3.5688% 5/12/53 (b)(c) | 756,000 | 437,622 | |
Gs Mtg Securities Corp. Trust 2023-Ship sequential payer Series 2023-SHIP: | |||
Class D, 6.273% 9/10/38 (b)(c) | 1,969,000 | 1,895,863 | |
Class E, 7.6814% 9/10/38 (b)(c) | 2,460,000 | 2,372,944 | |
Hilton U.S.A. Trust Series 2016-HHV: | |||
Class E, 4.3333% 11/5/38 (b)(c) | 5,078,000 | 4,603,862 | |
Class F, 4.3333% 11/5/38 (b)(c) | 5,977,000 | 5,312,689 | |
Home Partners of America Trust Series 2019-1: | |||
Class E, 3.604% 9/17/39 (b) | 1,282,823 | 1,118,756 | |
Class F, 4.101% 9/17/39 (b) | 208,153 | 181,501 | |
Independence Plaza Trust Series 2018-INDP Class E, 4.996% 7/10/35 (b) | 2,083,000 | 1,894,391 | |
JPMBB Commercial Mortgage Securities Trust: | |||
Series 2014-C23 Class UH5, 4.7094% 9/15/47 (b) | 604,000 | 456,190 | |
Series 2015-C32 Class C, 4.8046% 11/15/48 (c) | 1,500,000 | 794,808 | |
JPMCC Commercial Mortgage Securities Trust Series 2016-JP4 Class D, 3.515% 12/15/49 (b)(c) | 2,418,000 | 1,520,897 | |
JPMDB Commercial Mortgage Securities Trust: | |||
Series 2018-C8 Class D, 3.4174% 6/15/51 (b)(c)(e) | 1,171,000 | 685,081 | |
Series 2019-COR6 Class D, 2.5% 11/13/52 (b) | 1,354,000 | 662,858 | |
Series 2020-COR7 Class D, 1.75% 5/13/53 (b)(e) | 1,535,000 | 682,935 | |
JPMorgan Chase Commercial Mortgage Securities Trust: | |||
floater Series 2021-MHC Class E, CME Term SOFR 1 Month Index + 2.560% 7.8875% 4/15/38 (b)(c)(f) | 3,060,000 | 2,938,808 | |
sequential payer Series 2019-OSB: | |||
Class A, 3.3973% 6/5/39 (b) | 1,696,000 | 1,464,343 | |
Class D, 3.9089% 6/5/39 (b)(c) | 984,000 | 806,034 | |
Series 2011-C3: | |||
Class E, 5.7098% 2/15/46 (b)(c) | 3,008,000 | 1,141,685 | |
Class G, 4.409% 2/15/46 (b)(c) | 1,082,000 | 115,502 | |
Class H, 4.409% 2/15/46 (b)(c) | 2,622,000 | 190,906 | |
Series 2012-CBX: | |||
Class E, 4.8315% 6/15/45 (b)(c) | 3,160,036 | 2,713,205 | |
Class F, 4% 6/15/45 (b)(e) | 3,743,000 | 1,416,102 | |
Class G 4% 6/15/45 (b)(e) | 4,129,000 | 1,107,949 | |
Series 2013-LC11: | |||
Class D, 4.2992% 4/15/46 (c)(e) | 3,677,000 | 1,603,172 | |
Class E, 3.25% 4/15/46 (b)(c) | 104,000 | 28,158 | |
Class F, 3.25% 4/15/46 (b)(c) | 5,894,000 | 567,533 | |
Series 2014-DSTY: | |||
Class D, 3.9314% 6/10/27 (b)(c)(e) | 3,213,000 | 8,047 | |
Class E, 3.9314% 6/10/27 (b)(c)(e) | 4,232,000 | 10,322 | |
Series 2018-AON Class F, 4.767% 7/5/31 (b)(c) | 2,150,000 | 440,725 | |
Series 2019-OSB Class E, 3.9089% 6/5/39 (b)(c) | 3,019,000 | 2,412,040 | |
Series 2020-NNN: | |||
Class EFX, 3.972% 1/16/37 (b)(e) | 2,771,000 | 1,520,801 | |
Class FFX, 4.6254% 1/16/37 (b)(e) | 2,388,000 | 845,686 | |
Class GFX, 4.6882% 1/16/37 (b)(c)(e) | 942,000 | 239,777 | |
KNDL Mortgage Trust floater Series 2019-KNSQ Class F, CME Term SOFR 1 Month Index + 2.190% 7.519% 5/15/36 (b)(c)(f) | 4,350,000 | 4,219,500 | |
KNDR Trust floater Series 2021-KIND Class F, CME Term SOFR 1 Month Index + 4.060% 9.3875% 8/15/38 (b)(c)(f) | 4,439,911 | 4,011,803 | |
Market Mortgage Trust Series 2020-525M Class F, 3.0386% 2/12/40 (b)(c) | 1,976,000 | 573,040 | |
Merit floater Series 2021-STOR: | |||
Class F, CME Term SOFR 1 Month Index + 2.310% 7.6375% 7/15/38 (b)(c)(f) | 585,000 | 553,413 | |
Class G, CME Term SOFR 1 Month Index + 2.860% 8.1875% 7/15/38 (b)(c)(f) | 735,000 | 696,020 | |
Class J, CME Term SOFR 1 Month Index + 4.060% 9.3875% 7/15/38 (b)(c)(f) | 1,847,000 | 1,738,426 | |
MHC Commercial Mortgage Trust floater Series 2021-MHC Class G, CME Term SOFR 1 Month Index + 3.310% 8.6384% 4/15/38 (b)(c)(f) | 10,331,899 | 9,865,397 | |
MHP Commercial Mortgage Trust floater Series 2022-MHIL Class G, CME Term SOFR 1 Month Index + 3.950% 9.2804% 1/15/27 (b)(c)(f) | 2,144,116 | 2,012,953 | |
Mira Trust 2023-Mile sequential payer Series 2023-MILE Class B, 7.2026% 6/10/38 (b) | 1,012,000 | 993,427 | |
MOFT Trust Series 2020-ABC: | |||
Class D, 3.5926% 2/10/42 (b)(c) | 1,144,000 | 463,873 | |
Class E, 3.5926% 2/10/42 (b)(c) | 841,000 | 278,756 | |
Morgan Stanley BAML Trust: | |||
sequential payer Series 2014-C18 Class 300E, 4.6896% 8/15/31 | 1,666,000 | 919,876 | |
Series 2012-C6 Class D, 4.5725% 11/15/45 (b)(c) | 3,633,000 | 2,927,835 | |
Series 2012-C6, Class F, 4.5725% 11/15/45 (b)(c)(e) | 1,575,000 | 862,313 | |
Series 2013-C13: | |||
Class D, 5.0003% 11/15/46 (b)(c) | 5,150,000 | 4,686,500 | |
Class E, 5.0003% 11/15/46 (b)(c) | 1,666,000 | 1,441,090 | |
Series 2013-C9: | |||
Class D, 3.9457% 5/15/46 (b)(c) | 3,000,000 | 2,037,000 | |
Class E, 3.9457% 5/15/46 (b)(c) | 1,594,370 | 938,287 | |
Series 2017-C33 Class D, 3.356% 5/15/50 (b) | 2,932,000 | 1,994,684 | |
Morgan Stanley Capital I Trust: | |||
sequential payer Series 2021-L5 Class A4, 2.728% 5/15/54 | 3,744,000 | 3,060,161 | |
Series 2011-C2: | |||
Class D, 5.385% 6/15/44 (b)(c) | 3,281,857 | 2,998,487 | |
Class F, 5.385% 6/15/44 (b)(c)(e) | 3,015,000 | 1,212,802 | |
Series 2011-C3: | |||
Class E, 5.1089% 7/15/49 (b)(c) | 914,789 | 847,538 | |
Class F, 5.1089% 7/15/49 (b)(c) | 984,000 | 830,709 | |
Class G, 5.1089% 7/15/49 (b)(c)(e) | 3,536,800 | 2,514,653 | |
Series 2012-C4 Class D, 5.3359% 3/15/45 (b)(c) | 686,642 | 614,542 | |
Series 2015-MS1 Class D, 4.1571% 5/15/48 (b)(c) | 2,150,000 | 1,184,928 | |
Series 2017-H1: | |||
Class C, 4.281% 6/15/50 | 307,000 | 247,932 | |
Class D, 2.546% 6/15/50 (b) | 5,262,000 | 3,329,120 | |
Series 2017-HR2 Class D, 2.73% 12/15/50 | 1,183,000 | 852,703 | |
Series 2018-MP Class E, 4.4185% 7/11/40 (b)(c) | 3,059,000 | 1,851,731 | |
Series 2020-CNP Class D, 2.5085% 4/5/42 (b)(c) | 1,043,000 | 625,679 | |
MSJP Commercial Securities Mortgage Trust Series 2015-HAUL Class E, 5.0127% 9/5/47 (b)(c) | 1,014,000 | 641,927 | |
MSWF Commercial Mortgage Trust sequential payer Series 2023-1: | |||
Class A5, 5.752% 5/15/56 | 1,899,000 | 1,906,367 | |
Class C, 6.9055% 5/15/56 (c) | 1,266,000 | 1,120,687 | |
Natixis Commercial Mortgage Securities Trust: | |||
floater Series 2018-FL1 Class WAN2, CME Term SOFR 1 Month Index + 3.790% 9.1199% 6/15/35 (b)(c)(e)(f) | 222,000 | 11,267 | |
Series 2019-10K: | |||
Class E, 4.2724% 5/15/39 (b)(c) | 2,293,000 | 1,761,959 | |
Class F, 4.2724% 5/15/39 (b)(c) | 3,014,000 | 2,212,975 | |
Series 2020-2PAC: | |||
Class AMZ2, 3.6167% 1/15/37 (b)(c)(e) | 1,754,950 | 1,298,343 | |
Class AMZ3, 3.6167% 1/15/37 (b)(c)(e) | 822,675 | 535,517 | |
Open Trust 2023-Air sequential payer Series 2023-AIR Class D, CME Term SOFR 1 Month Index + 6.680% 12.0077% 10/15/28 (b)(c)(f) | 2,500,000 | 2,495,290 | |
OPG Trust floater Series 2021-PORT: | |||
Class G, CME Term SOFR 1 Month Index + 2.510% 7.8355% 10/15/36 (b)(c)(f) | 876,926 | 824,072 | |
Class J, CME Term SOFR 1 Month Index + 3.460% 8.7835% 10/15/36 (b)(c)(f) | 1,456,936 | 1,386,380 | |
PKHL Commercial Mortgage Trust floater Series 2021-MF: | |||
Class F, CME Term SOFR 1 Month Index + 3.460% 8.7875% 7/15/38 (b)(c)(f) | 2,225,000 | 1,746,505 | |
Class NR, CME Term SOFR 1 Month Index + 6.110% 11.4375% 7/15/38 (b)(c)(e)(f) | 631,000 | 468,212 | |
Prima Capital Ltd. floater Series 2021-9A Class C, CME Term SOFR 1 Month Index + 2.460% 7.798% 12/15/37 (b)(c)(f) | 1,000,000 | 956,155 | |
Providence Place Group Ltd. Partnership Series 2000-C1 Class A2, 7.75% 7/20/28 (b) | 1,400,780 | 1,410,745 | |
SG Commercial Mortgage Securities Trust: | |||
Series 2019-PREZ Class F, 3.593% 9/15/39 (b)(c) | 3,206,000 | 2,342,853 | |
Series 2020-COVE: | |||
Class F, 3.8518% 3/15/37 (b)(c) | 3,855,000 | 3,252,779 | |
Class G, 3.8518% 3/15/37 (b)(c) | 1,782,000 | 1,486,347 | |
SOHO Trust Series 2021-SOHO Class D, 2.7865% 8/10/38 (b)(c) | 2,499,000 | 1,483,877 | |
SREIT Trust floater: | |||
Series 2021-IND Class G, CME Term SOFR 1 Month Index + 3.380% 8.7033% 10/15/38 (b)(c)(f) | 3,339,000 | 3,109,672 | |
Series 2021-MFP Class F, CME Term SOFR 1 Month Index + 2.730% 8.0623% 11/15/38 (b)(c)(f) | 1,405,000 | 1,329,184 | |
Series 2021-MFP2: | |||
Class G, CME Term SOFR 1 Month Index + 3.080% 8.405% 11/15/36 (b)(c)(f) | 3,024,000 | 2,874,261 | |
Class J, CME Term SOFR 1 Month Index + 4.020% 9.353% 11/15/36 (b)(c)(f) | 1,803,000 | 1,728,572 | |
STWD Trust floater sequential payer Series 2021-LIH: | |||
Class F, CME Term SOFR 1 Month Index + 3.660% 8.988% 11/15/36 (b)(c)(f) | 3,319,000 | 3,130,146 | |
Class G, CME Term SOFR 1 Month Index + 4.310% 9.637% 11/15/36 (b)(c)(f) | 1,134,000 | 1,064,627 | |
TPGI Trust floater Series 2021-DGWD Class G, CME Term SOFR 1 Month Index + 3.960% 9.2945% 6/15/26 (b)(c)(f) | 806,400 | 777,328 | |
UBS Commercial Mortgage Trust: | |||
Series 2012-C1: | |||
Class E, 5% 5/10/45 (b)(c)(e) | 1,391,518 | 1,072,860 | |
Class F, 5% 5/10/45 (b)(c)(e) | 2,484,000 | 99,360 | |
Series 2018-C8 Class C, 4.8405% 2/15/51 (c) | 756,000 | 605,784 | |
UBS-BAMLL Trust: | |||
Series 12-WRM Class D, 4.3793% 6/10/30 (b)(c) | 2,090,000 | 1,663,161 | |
Series 2012-WRM Class C, 4.3793% 6/10/30 (b)(c) | 890,000 | 743,491 | |
VASA Trust: | |||
floater Series 2021-VASA Class G, CME Term SOFR 1 Month Index + 5.110% 10.4375% 7/15/39 (b)(c)(f) | 693,000 | 300,555 | |
floater sequential payer Series 2021-VASA Class F, CME Term SOFR 1 Month Index + 4.010% 9.3375% 7/15/39 (b)(c)(f) | 3,009,000 | 1,606,056 | |
VMC Finance Ltd. floater Series 2021-HT1 Class B, CME Term SOFR 1 Month Index + 4.610% 9.9456% 1/18/37 (b)(c)(f) | 3,000,000 | 2,843,040 | |
Wells Fargo Commercial Mortgage Trust: | |||
floater Series 2021-SAVE Class E, CME Term SOFR 1 Month Index + 3.760% 9.0875% 2/15/40 (b)(c)(f) | 450,400 | 396,372 | |
sequential payer: | |||
Series 2020-C57 Class D, 2.5% 8/15/53 (b) | 2,108,000 | 1,153,313 | |
Series 2020-C58 Class A4, 2.092% 7/15/53 | 2,745,000 | 2,162,093 | |
Series 2021-C61 Class A4, 2.658% 11/15/54 | 1,231,000 | 989,435 | |
Series 20XX-C60 Class A4, 2.342% 8/15/54 | 2,703,000 | 2,145,924 | |
Series 2015-NXS4 Class D, 3.841% 12/15/48 (c) | 1,834,000 | 1,539,270 | |
Series 2016-BNK1 Class D, 3% 8/15/49 (b)(e) | 1,526,000 | 476,403 | |
Series 2016-NXS6 Class D, 3.059% 11/15/49 (b) | 1,250,000 | 902,622 | |
Series 2018-C44 Class D, 3% 5/15/51 (b)(e) | 3,949,000 | 2,341,770 | |
Series 2019-C49: | |||
Class B, 4.546% 3/15/52 | 450,000 | 397,556 | |
Class C, 4.866% 3/15/52 (c) | 3,713,000 | 3,132,416 | |
Wells Fargo Commercial Mtg Trust 3.514% 10/15/52 | 1,459,000 | 1,166,017 | |
WF-RBS Commercial Mortgage Trust: | |||
sequential payer Series 2011-C4I Class G, 5% 6/15/44 (c)(e) | 1,252,600 | 28,615 | |
Series 2011-C3 Class D, 6.0497% 3/15/44 (b)(c) | 1,284,756 | 387,354 | |
Series 2011-C4: | |||
Class D, 5.1447% 6/15/44 (b)(c) | 1,616,000 | 1,286,181 | |
Class E, 5.1447% 6/15/44 (b)(c) | 1,274,000 | 872,516 | |
Series 2013-C11 Class E, 4.1891% 3/15/45 (b)(c)(e) | 4,999,000 | 2,727,098 | |
Series 2013-C13 Class D, 4.1788% 5/15/45 (b)(c)(e) | 1,449,130 | 1,188,287 | |
Series 2013-C16 Class D, 4.8064% 9/15/46 (b)(c) | 487,198 | 428,734 | |
WFCM: | |||
Series 2022-C62 Class D, 2.5% 4/15/55 (b) | 2,352,000 | 1,057,636 | |
Series 2022-C62, Class A4, 4% 4/15/55 | 2,074,000 | 1,839,766 | |
Worldwide Plaza Trust Series 2017-WWP Class F, 3.7154% 11/10/36 (b)(c) | 1,695,000 | 89,271 | |
WP Glimcher Mall Trust Series 2015-WPG: | |||
Class PR1, 3.6332% 6/5/35 (b)(c) | 1,638,000 | 1,357,376 | |
Class PR2, 3.6332% 6/5/35 (b)(c) | 4,354,000 | 3,458,240 | |
TOTAL COMMERCIAL MORTGAGE SECURITIES (Cost $578,034,462) | 471,305,496 | ||
Common Stocks - 0.0% | |||
Shares | Value ($) | ||
Technology - 0.0% | |||
Cyxtera Technologies, Inc. Class A (i)(j) (Cost $919,192) | 92,200 | 9 | |
Bank Loan Obligations - 1.5% | |||
Principal Amount (a) | Value ($) | ||
Diversified Financial Services - 1.5% | |||
Agellan Portfolio 9% 8/7/25 (e)(k) | 908,000 | 908,000 | |
Mhp 2022-Mhil Mezz U.S. Secured Overnight Fin. Rate (SOFR) Index + 5.000% 10.3229% 1/9/24 (c)(e)(f)(k) | 4,558,038 | 4,284,555 | |
Sunbelt Mezz U.S. Secured Overnight Fin. Rate (SOFR) Index + 4.450% 9.8846% 1/21/27 (c)(e)(f)(k) | 1,032,615 | 1,032,615 | |
Veritas Multifamily Portfolio 1 month U.S. LIBOR + 0.000% 0% (e)(f)(g)(k) | 11,130,675 | 1,669,601 | |
TOTAL BANK LOAN OBLIGATIONS (Cost $17,628,274) | 7,894,771 | ||
Preferred Securities - 0.0% | |||
Principal Amount (a) | Value ($) | ||
Homebuilders/Real Estate - 0.0% | |||
Crest Clarendon Street 2002-1 Ltd. Series 2002-1A Class PS, 12/28/35 (b)(e) | 3,000,000 | 0 | |
Crest Dartmouth Street 2003-1 Ltd. Series 2003-1A Class PS, 6/28/38 (b)(e) | 3,100,000 | 31 | |
TOTAL PREFERRED SECURITIES (Cost $6,004,704) | 31 | ||
Money Market Funds - 3.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (l) | 16,915,100 | 16,918,483 | |
Fidelity Securities Lending Cash Central Fund 5.39% (l)(m) | 59,894 | 59,900 | |
TOTAL MONEY MARKET FUNDS (Cost $16,978,383) | 16,978,383 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $651,498,252) | 519,037,714 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (1,959,390) |
NET ASSETS - 100.0% | 517,078,324 |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | 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 $348,930,769 or 67.5% of net assets. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(d) | 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. |
(e) | Level 3 security |
(f) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(g) | Non-income producing - Security is in default. |
(h) | 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 $28,550 or 0.0% of net assets. |
(i) | Non-income producing |
(j) | Security or a portion of the security is on loan at period end. |
(k) | Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. |
(l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(m) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Fannie Mae REMIC Trust Series 2003-W10 subordinate REMIC pass thru certificates, Class 2B4, 3.7539% 6/25/43 | 9/29/03 | 30,173 |
Fannie Mae REMIC Trust Series 2003-W10 subordinate REMIC pass thru certificates, Class 2B5, 3.7539% 6/25/43 | 9/29/03 | 1,075 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 51,234,326 | 258,993,110 | 293,308,953 | 1,514,070 | - | - | 16,918,483 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | - | 300,158 | 240,258 | 2,623 | - | - | 59,900 | 0.0% |
Total | 51,234,326 | 259,293,268 | 293,549,211 | 1,516,693 | - | - | 16,978,383 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Information Technology | 9 | 9 | - | - |
Corporate Bonds | 11,144,922 | - | 11,144,922 | - |
Asset-Backed Securities | 10,251,362 | - | 10,251,336 | 26 |
Collateralized Mortgage Obligations | 1,462,740 | - | 1,423,524 | 39,216 |
Commercial Mortgage Securities | 471,305,496 | - | 437,868,934 | 33,436,562 |
Bank Loan Obligations | 7,894,771 | - | - | 7,894,771 |
Preferred Securities | 31 | - | - | 31 |
Money Market Funds | 16,978,383 | 16,978,383 | - | - |
Total Investments in Securities: | 519,037,714 | 16,978,392 | 460,688,716 | 41,370,606 |
Investments in Securities: | |||
Bank Loan Obligations | |||
Beginning Balance | $ | 19,001,704 | |
Net Realized Gain (Loss) on Investment Securities | 1,911 | ||
Net Unrealized Gain (Loss) on Investment Securities | (9,048,954) | ||
Cost of Purchases | - | ||
Proceeds of Sales | (2,060,515) | ||
Amortization/Accretion | 625 | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 7,894,771 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (9,048,954) | |
Commercial Mortgage Securities | |||
Beginning Balance | $ | 18,789,614 | |
Net Realized Gain (Loss) on Investment Securities | (6,261,667) | ||
Net Unrealized Gain (Loss) on Investment Securities | (8,669,572) | ||
Cost of Purchases | 176,716 | ||
Proceeds of Sales | (2,854,391) | ||
Amortization/Accretion | (435,985) | ||
Transfers into Level 3 | 40,890,865 | ||
Transfers out of Level 3 | (8,199,018) | ||
Ending Balance | $ | 33,436,562 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (12,039,563) | |
Other Investments in Securities | |||
Beginning Balance | $ | 72,334 | |
Net Realized Gain (Loss) on Investment Securities | 15,206 | ||
Net Unrealized Gain (Loss) on Investment Securities | (131,327) | ||
Cost of Purchases | 163,802 | ||
Proceeds of Sales | (18,401) | ||
Amortization/Accretion | (93,669) | ||
Transfers into Level 3 | 34,944 | ||
Transfers out of Level 3 | (3,616) | ||
Ending Balance | $ | 39,273 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (131,327) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $6) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $634,519,869) | $ | 502,059,331 | ||
Fidelity Central Funds (cost $16,978,383) | 16,978,383 | |||
Total Investment in Securities (cost $651,498,252) | $ | 519,037,714 | ||
Cash | 91 | |||
Receivable for investments sold | 3,161 | |||
Interest receivable | 2,549,402 | |||
Distributions receivable from Fidelity Central Funds | 132,655 | |||
Prepaid expenses | 730 | |||
Total assets | 521,723,753 | |||
Liabilities | ||||
Payable for investments purchased | $ | 2,627,580 | ||
Distributions payable | 1,457,506 | |||
Accrued management fee | 307,200 | |||
Other affiliated payables | 24,651 | |||
Other payables and accrued expenses | 168,592 | |||
Collateral on securities loaned | 59,900 | |||
Total Liabilities | 4,645,429 | |||
Net Assets | $ | 517,078,324 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 734,217,225 | ||
Total accumulated earnings (loss) | (217,138,901) | |||
Net Assets | $ | 517,078,324 | ||
Net Asset Value, offering price and redemption price per share ($517,078,324 ÷ 78,337,835 shares) | $ | 6.60 |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 780,441 | ||
Interest | 41,129,097 | |||
Income from Fidelity Central Funds (including $2,623 from security lending) | 1,516,693 | |||
Total Income | 43,426,231 | |||
Expenses | ||||
Management fee | $ | 4,378,828 | ||
Transfer agent fees | 94,265 | |||
Accounting fees | 246,158 | |||
Custodian fees and expenses | 5,661 | |||
Independent trustees' fees and expenses | 3,970 | |||
Audit | 187,030 | |||
Legal | 1,051 | |||
Miscellaneous | 7,302 | |||
Total expenses before reductions | 4,924,265 | |||
Expense reductions | (24,418) | |||
Total expenses after reductions | 4,899,847 | |||
Net Investment income (loss) | 38,526,384 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (52,783,174) | |||
Total net realized gain (loss) | (52,783,174) | |||
Change in net unrealized appreciation (depreciation) on investment securities | (2,181,571) | |||
Net gain (loss) | (54,964,745) | |||
Net increase (decrease) in net assets resulting from operations | $ | (16,438,361) |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 38,526,384 | $ | 37,432,420 |
Net realized gain (loss) | (52,783,174) | (18,182,556) | ||
Change in net unrealized appreciation (depreciation) | (2,181,571) | (98,119,750) | ||
Net increase (decrease) in net assets resulting from operations | (16,438,361) | (78,869,886) | ||
Distributions to shareholders | (35,594,064) | (35,148,510) | ||
Distributions to shareholders from tax return of capital | (596,734) | (3,443,243) | ||
Total Distributions | (36,190,798) | (38,591,753) | ||
Share transactions | ||||
Proceeds from sales of shares | 139,500 | 1,542,700 | ||
Reinvestment of distributions | 30,125,106 | 34,056,356 | ||
Cost of shares redeemed | (182,770,119) | (141,867,241) | ||
Net increase (decrease) in net assets resulting from share transactions | (152,505,513) | (106,268,185) | ||
Total increase (decrease) in net assets | (205,134,672) | (223,729,824) | ||
Net Assets | ||||
Beginning of period | 722,212,996 | 945,942,820 | ||
End of period | $ | 517,078,324 | $ | 722,212,996 |
Other Information | ||||
Shares | ||||
Sold | 21,270 | 206,697 | ||
Issued in reinvestment of distributions | 4,386,440 | 4,453,015 | ||
Redeemed | (26,753,543) | (18,754,870) | ||
Net increase (decrease) | (22,345,833) | (14,095,158) | ||
Fidelity® Real Estate High Income Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 7.17 | $ | 8.24 | $ | 7.80 | $ | 8.77 | $ | 8.44 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .423 | .345 | .305 | .341 | .418 | |||||
Net realized and unrealized gain (loss) | (.594) | (1.059) | .469 | (.972) | .338 | |||||
Total from investment operations | (.171) | (.714) | .774 | (.631) | .756 | |||||
Distributions from net investment income | (.392) | (.324) | (.334) | (.339) | (.426) | |||||
Tax return of capital | (.007) | (.032) | - | - | - | |||||
Total distributions | (.399) | (.356) | (.334) | (.339) | (.426) | |||||
Net asset value, end of period | $ | 6.60 | $ | 7.17 | $ | 8.24 | $ | 7.80 | $ | 8.77 |
Total Return C | (2.44)% | (8.84)% | 10.07% | (7.06)% | 9.15% | |||||
Ratios to Average Net Assets B,D,E | ||||||||||
Expenses before reductions | .78% | .78% | .78% | .79% | .80% | |||||
Expenses net of fee waivers, if any | .78% | .78% | .78% | .79% | .80% | |||||
Expenses net of all reductions | .78% | .78% | .78% | .79% | .79% | |||||
Net investment income (loss) | 6.13% | 4.48% | 3.74% | 4.41% | 4.83% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 517,078 | $ | 722,213 | $ | 945,943 | $ | 757,024 | $ | 821,523 |
Portfolio turnover rate F | 32% | 16% | 22% | 27% | 26% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in InputA |
Bank Loan Obligations | $7,894,771 | Discounted cash flow | Yield | 9.0% - 28.4%/14.9% | Decrease |
Preferred Securities | $31 | Recovery value | Recovery Value | $0.00 | Increase |
Commercial Mortgage Securities | $33,436,562 | Indicative market price | Evaluated bid | $0.24 - $82.00/$52.78 | Increase |
Asset-Backed Securities | $26 | Indicative market price | Evaluated bid | $0.00 | Increase |
Recovery value | Recovery value | $0.00 | Increase | ||
Collateralized Mortgage Obligations | $39,216 | Indicative market price | Evaluated bid | $5.38 - $40.28/$36.64 | Increase |
Gross unrealized appreciation | $2,031,256 |
Gross unrealized depreciation | (134,924,150) |
Net unrealized appreciation (depreciation) | $(132,892,894) |
Tax Cost | $651,930,608 |
Capital loss carryforward | $(81,261,401) |
Net unrealized appreciation (depreciation) on securities and other investments | $(132,892,894) |
Short-term | $(11,068,368) |
Long-term | (70,193,033) |
Total capital loss carryforward | $(81,261,401) |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $35,594,064 | $35,148,510 |
Tax Return of Capital | 596,734 | 3,443,243 |
Total | $36,190,798 | $38,591,753 |
Purchases ($) | Sales ($) | |
Fidelity Real Estate High Income Fund | 192,718,231 | 306,506,164 |
% of Average Net Assets | |
Fidelity Real Estate High Income Fund | .04 |
% of Average Net Assets | |
Fidelity Real Estate High Income Fund | 0.0396% |
Amount | |
Fidelity Real Estate High Income Fund | $ 584 |
Amount | |
Fidelity Real Estate High Income Fund | $1,208 |
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 Real Estate High Income Fund | $272 | $ - | $- |
Fund | Number ofUnaffiliated Shareholders | Unaffiliated Shareholders % |
Fidelity Real Estate High Income Fund | 3 | 75% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Real Estate High Income Fund | .78% | |||||||||
Actual | $ 1,000 | $ 994.70 | $ 3.90 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.16 | $ 3.95 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity Advisor® Series Small Cap Fund | 2.11% | 9.64% | 7.40% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity Advisor® Series Small Cap Fund on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell 2000® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Insight Enterprises, Inc. | 1.7 | |
Fabrinet | 1.7 | |
Eagle Materials, Inc. | 1.6 | |
Constellium NV | 1.6 | |
Patrick Industries, Inc. | 1.5 | |
Murphy U.S.A., Inc. | 1.5 | |
Commercial Metals Co. | 1.5 | |
Primerica, Inc. | 1.5 | |
Performance Food Group Co. | 1.4 | |
Lamar Advertising Co. Class A | 1.4 | |
15.4 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 20.0 | |
Financials | 14.3 | |
Information Technology | 13.7 | |
Health Care | 13.0 | |
Consumer Discretionary | 12.0 | |
Materials | 6.8 | |
Energy | 5.1 | |
Real Estate | 4.3 | |
Consumer Staples | 3.9 | |
Communication Services | 2.6 | |
Utilities | 1.2 | |
Investment Companies | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 96.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.6% | |||
Entertainment - 0.2% | |||
Vivid Seats, Inc. Class A (a) | 91,098 | 753,380 | |
Interactive Media & Services - 1.5% | |||
Cars.com, Inc. (a) | 205,100 | 3,818,962 | |
Ziff Davis, Inc. (a) | 34,284 | 2,188,005 | |
6,006,967 | |||
Media - 0.5% | |||
TechTarget, Inc. (a) | 75,900 | 2,246,640 | |
Wireless Telecommunication Services - 0.4% | |||
Gogo, Inc. (a) | 152,700 | 1,531,581 | |
TOTAL COMMUNICATION SERVICES | 10,538,568 | ||
CONSUMER DISCRETIONARY - 12.0% | |||
Automobile Components - 3.2% | |||
Adient PLC (a) | 115,100 | 3,706,220 | |
Fox Factory Holding Corp. (a) | 51,895 | 3,243,956 | |
Patrick Industries, Inc. | 73,481 | 6,028,381 | |
12,978,557 | |||
Hotels, Restaurants & Leisure - 1.2% | |||
Brinker International, Inc. (a) | 65,100 | 2,344,251 | |
Churchill Downs, Inc. | 21,800 | 2,523,786 | |
4,868,037 | |||
Household Durables - 2.3% | |||
SharkNinja Hong Kong Co. Ltd. | 70,066 | 3,293,102 | |
Skyline Champion Corp. (a) | 58,991 | 3,550,668 | |
Tempur Sealy International, Inc. | 62,800 | 2,532,096 | |
9,375,866 | |||
Leisure Products - 0.2% | |||
Clarus Corp. (b) | 162,190 | 922,861 | |
Specialty Retail - 4.1% | |||
Academy Sports & Outdoors, Inc. | 32,350 | 1,645,645 | |
Murphy U.S.A., Inc. | 16,200 | 5,986,710 | |
Musti Group OYJ | 153,279 | 4,381,328 | |
Valvoline, Inc. | 129,500 | 4,434,080 | |
16,447,763 | |||
Textiles, Apparel & Luxury Goods - 1.0% | |||
Crocs, Inc. (a) | 39,282 | 4,148,572 | |
TOTAL CONSUMER DISCRETIONARY | 48,741,656 | ||
CONSUMER STAPLES - 3.9% | |||
Consumer Staples Distribution & Retail - 3.1% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 54,520 | 3,520,902 | |
Performance Food Group Co. (a) | 87,400 | 5,685,370 | |
Sprouts Farmers Market LLC (a) | 79,000 | 3,403,320 | |
12,609,592 | |||
Food Products - 0.8% | |||
Nomad Foods Ltd. (a) | 190,900 | 3,083,035 | |
TOTAL CONSUMER STAPLES | 15,692,627 | ||
ENERGY - 5.1% | |||
Energy Equipment & Services - 3.6% | |||
Cactus, Inc. | 87,500 | 3,717,875 | |
Championx Corp. | 140,400 | 4,116,528 | |
Liberty Oilfield Services, Inc. Class A | 217,700 | 4,321,345 | |
TechnipFMC PLC | 128,900 | 2,670,808 | |
14,826,556 | |||
Oil, Gas & Consumable Fuels - 1.5% | |||
Antero Resources Corp. (a) | 158,600 | 3,747,718 | |
Hess Midstream LP | 69,899 | 2,274,513 | |
6,022,231 | |||
TOTAL ENERGY | 20,848,787 | ||
FINANCIALS - 14.3% | |||
Banks - 5.3% | |||
ConnectOne Bancorp, Inc. | 236,376 | 4,647,152 | |
First Interstate Bancsystem, Inc. | 135,200 | 3,500,328 | |
Independent Bank Group, Inc. | 100,634 | 3,892,523 | |
Metropolitan Bank Holding Corp. (a) | 56,329 | 2,195,141 | |
Pinnacle Financial Partners, Inc. | 68,100 | 4,942,017 | |
Trico Bancshares | 77,300 | 2,660,666 | |
21,837,827 | |||
Capital Markets - 3.6% | |||
Houlihan Lokey | 37,400 | 4,028,728 | |
Lazard Ltd. Class A | 83,100 | 2,491,338 | |
LPL Financial | 9,300 | 2,067,390 | |
Morningstar, Inc. | 11,464 | 3,248,439 | |
Patria Investments Ltd. | 189,600 | 2,684,736 | |
14,520,631 | |||
Consumer Finance - 0.5% | |||
PROG Holdings, Inc. (a) | 73,008 | 1,990,198 | |
Financial Services - 1.2% | |||
Essent Group Ltd. | 102,800 | 4,969,352 | |
Insurance - 3.7% | |||
Old Republic International Corp. | 150,900 | 4,422,879 | |
Primerica, Inc. | 28,400 | 5,950,084 | |
Selective Insurance Group, Inc. | 45,527 | 4,629,641 | |
15,002,604 | |||
TOTAL FINANCIALS | 58,320,612 | ||
HEALTH CARE - 13.0% | |||
Biotechnology - 3.7% | |||
Allogene Therapeutics, Inc. (a) | 133,600 | 313,960 | |
Arcellx, Inc. (a) | 32,900 | 1,728,237 | |
Astria Therapeutics, Inc. (a) | 72,000 | 334,800 | |
Blueprint Medicines Corp. (a) | 23,700 | 1,650,468 | |
Celldex Therapeutics, Inc. (a) | 16,700 | 504,507 | |
Cerevel Therapeutics Holdings (a) | 45,700 | 1,185,001 | |
Cogent Biosciences, Inc. (a) | 68,400 | 524,628 | |
Cytokinetics, Inc. (a) | 51,700 | 1,730,916 | |
Janux Therapeutics, Inc. (a) | 30,800 | 268,884 | |
Keros Therapeutics, Inc. (a) | 10,700 | 324,638 | |
Legend Biotech Corp. ADR (a) | 15,300 | 930,546 | |
PTC Therapeutics, Inc. (a) | 39,200 | 902,384 | |
Tyra Biosciences, Inc. (a) | 69,600 | 815,016 | |
Vaxcyte, Inc. (a) | 30,900 | 1,599,693 | |
Verve Therapeutics, Inc. (a)(b) | 49,500 | 558,360 | |
Viking Therapeutics, Inc. (a)(b) | 34,200 | 417,924 | |
Xenon Pharmaceuticals, Inc. (a) | 32,300 | 1,181,534 | |
Zentalis Pharmaceuticals, Inc. (a) | 18,130 | 203,963 | |
15,175,459 | |||
Health Care Equipment & Supplies - 4.0% | |||
Envista Holdings Corp. (a) | 102,700 | 2,330,263 | |
Haemonetics Corp. (a) | 31,600 | 2,555,492 | |
Inspire Medical Systems, Inc. (a) | 9,600 | 1,394,976 | |
Merit Medical Systems, Inc. (a) | 38,400 | 2,747,904 | |
Neogen Corp. (a) | 143,800 | 2,440,286 | |
Pulmonx Corp. (a) | 169,200 | 1,844,280 | |
TransMedics Group, Inc. (a)(b) | 39,400 | 2,981,792 | |
16,294,993 | |||
Health Care Providers & Services - 4.4% | |||
Acadia Healthcare Co., Inc. (a) | 71,800 | 5,240,682 | |
Chemed Corp. | 8,500 | 4,819,500 | |
Option Care Health, Inc. (a) | 70,966 | 2,111,239 | |
The Ensign Group, Inc. | 51,700 | 5,535,519 | |
17,706,940 | |||
Life Sciences Tools & Services - 0.1% | |||
BioLife Solutions, Inc. (a) | 48,100 | 594,997 | |
Pharmaceuticals - 0.8% | |||
Arvinas Holding Co. LLC (a) | 30,000 | 659,100 | |
Edgewise Therapeutics, Inc. (a) | 59,600 | 362,368 | |
Intra-Cellular Therapies, Inc. (a) | 22,900 | 1,405,373 | |
Ventyx Biosciences, Inc. (a) | 25,400 | 54,864 | |
Verona Pharma PLC ADR (a) | 56,900 | 769,288 | |
3,250,993 | |||
TOTAL HEALTH CARE | 53,023,382 | ||
INDUSTRIALS - 20.0% | |||
Aerospace & Defense - 0.7% | |||
V2X, Inc. (a) | 66,700 | 2,828,080 | |
Building Products - 2.6% | |||
CSW Industrials, Inc. | 14,485 | 2,568,625 | |
Masonite International Corp. (a) | 33,400 | 2,967,590 | |
Simpson Manufacturing Co. Ltd. | 30,100 | 5,025,797 | |
10,562,012 | |||
Construction & Engineering - 2.5% | |||
EMCOR Group, Inc. | 24,000 | 5,100,480 | |
Granite Construction, Inc. | 49,000 | 2,251,550 | |
Sterling Construction Co., Inc. (a) | 42,700 | 2,711,877 | |
10,063,907 | |||
Electrical Equipment - 2.1% | |||
Array Technologies, Inc. (a) | 180,588 | 2,793,696 | |
Atkore, Inc. (a) | 21,200 | 2,753,880 | |
Thermon Group Holdings, Inc. (a) | 93,600 | 2,822,040 | |
8,369,616 | |||
Ground Transportation - 0.9% | |||
TFI International, Inc. | 31,200 | 3,687,216 | |
Machinery - 1.8% | |||
ITT, Inc. | 22,900 | 2,479,383 | |
Terex Corp. | 101,700 | 5,034,150 | |
7,513,533 | |||
Professional Services - 4.8% | |||
ASGN, Inc. (a) | 42,400 | 3,783,776 | |
Concentrix Corp. | 34,813 | 3,272,074 | |
ExlService Holdings, Inc. (a) | 135,000 | 3,829,950 | |
FTI Consulting, Inc. (a) | 10,400 | 2,292,784 | |
KBR, Inc. | 80,000 | 4,133,600 | |
NV5 Global, Inc. (a) | 24,068 | 2,341,335 | |
19,653,519 | |||
Trading Companies & Distributors - 4.6% | |||
Applied Industrial Technologies, Inc. | 24,800 | 3,969,736 | |
Beacon Roofing Supply, Inc. (a) | 41,800 | 3,359,048 | |
FTAI Aviation Ltd. | 93,400 | 3,849,014 | |
GMS, Inc. (a) | 41,700 | 2,820,588 | |
Rush Enterprises, Inc. Class A | 118,398 | 4,696,849 | |
18,695,235 | |||
TOTAL INDUSTRIALS | 81,373,118 | ||
INFORMATION TECHNOLOGY - 13.7% | |||
Communications Equipment - 0.6% | |||
Extreme Networks, Inc. (a) | 144,400 | 2,330,616 | |
Electronic Equipment, Instruments & Components - 6.0% | |||
Advanced Energy Industries, Inc. | 44,200 | 4,201,210 | |
Fabrinet (a) | 41,300 | 6,686,470 | |
Insight Enterprises, Inc. (a) | 46,098 | 6,980,161 | |
Napco Security Technologies, Inc. (b) | 58,782 | 1,798,729 | |
TD SYNNEX Corp. | 46,113 | 4,548,586 | |
24,215,156 | |||
IT Services - 1.1% | |||
Endava PLC ADR (a) | 32,501 | 2,120,365 | |
Perficient, Inc. (a) | 41,100 | 2,543,268 | |
4,663,633 | |||
Semiconductors & Semiconductor Equipment - 2.9% | |||
AEHR Test Systems (a)(b) | 42,500 | 975,800 | |
Allegro MicroSystems LLC (a) | 61,300 | 1,668,586 | |
Axcelis Technologies, Inc. (a) | 9,500 | 1,180,660 | |
MACOM Technology Solutions Holdings, Inc. (a) | 62,400 | 5,240,352 | |
Synaptics, Inc. (a) | 24,858 | 2,516,624 | |
11,582,022 | |||
Software - 3.1% | |||
Five9, Inc. (a) | 23,200 | 1,768,304 | |
Intapp, Inc. (a) | 64,419 | 2,415,713 | |
PROS Holdings, Inc. (a) | 73,200 | 2,675,460 | |
Rapid7, Inc. (a) | 32,800 | 1,776,120 | |
Tenable Holdings, Inc. (a) | 99,100 | 4,101,749 | |
12,737,346 | |||
TOTAL INFORMATION TECHNOLOGY | 55,528,773 | ||
MATERIALS - 6.8% | |||
Chemicals - 2.1% | |||
Element Solutions, Inc. | 248,600 | 5,210,656 | |
The Chemours Co. LLC | 56,500 | 1,549,795 | |
Tronox Holdings PLC | 132,800 | 1,693,200 | |
8,453,651 | |||
Construction Materials - 1.6% | |||
Eagle Materials, Inc. | 36,600 | 6,626,430 | |
Metals & Mining - 3.1% | |||
Commercial Metals Co. | 131,800 | 5,974,494 | |
Constellium NV (a) | 371,800 | 6,469,320 | |
12,443,814 | |||
TOTAL MATERIALS | 27,523,895 | ||
REAL ESTATE - 4.3% | |||
Equity Real Estate Investment Trusts (REITs) - 3.3% | |||
Essential Properties Realty Trust, Inc. | 195,392 | 4,640,560 | |
Lamar Advertising Co. Class A | 55,700 | 5,641,853 | |
Urban Edge Properties | 185,500 | 3,107,125 | |
13,389,538 | |||
Real Estate Management & Development - 1.0% | |||
Colliers International Group, Inc. | 39,100 | 4,068,624 | |
TOTAL REAL ESTATE | 17,458,162 | ||
UTILITIES - 1.2% | |||
Gas Utilities - 1.2% | |||
Brookfield Infrastructure Corp. A Shares | 157,157 | 4,881,296 | |
TOTAL COMMON STOCKS (Cost $322,838,241) | 393,930,876 | ||
Money Market Funds - 3.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) | 4,018,034 | 4,018,838 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 8,318,078 | 8,318,910 | |
TOTAL MONEY MARKET FUNDS (Cost $12,337,748) | 12,337,748 | ||
Equity Funds - 1.0% | |||
Shares | Value ($) | ||
Small Blend Funds - 1.0% | |||
iShares Russell 2000 Index ETF (b) (Cost $4,004,840) | 23,000 | 4,132,180 | |
TOTAL INVESTMENT IN SECURITIES - 100.9% (Cost $339,180,829) | 410,400,804 |
NET OTHER ASSETS (LIABILITIES) - (0.9)% | (3,726,856) |
NET ASSETS - 100.0% | 406,673,948 |
ETF | - | EXCHANGE-TRADED FUND |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 3,753,464 | 123,136,255 | 122,870,881 | 237,377 | - | - | 4,018,838 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 7,058,236 | 89,735,418 | 88,474,744 | 44,828 | - | - | 8,318,910 | 0.0% |
Total | 10,811,700 | 212,871,673 | 211,345,625 | 282,205 | - | - | 12,337,748 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 10,538,568 | 10,538,568 | - | - |
Consumer Discretionary | 48,741,656 | 48,741,656 | - | - |
Consumer Staples | 15,692,627 | 15,692,627 | - | - |
Energy | 20,848,787 | 20,848,787 | - | - |
Financials | 58,320,612 | 58,320,612 | - | - |
Health Care | 53,023,382 | 53,023,382 | - | - |
Industrials | 81,373,118 | 81,373,118 | - | - |
Information Technology | 55,528,773 | 55,528,773 | - | - |
Materials | 27,523,895 | 27,523,895 | - | - |
Real Estate | 17,458,162 | 17,458,162 | - | - |
Utilities | 4,881,296 | 4,881,296 | - | - |
Money Market Funds | 12,337,748 | 12,337,748 | - | - |
Equity Funds | 4,132,180 | 4,132,180 | - | - |
Total Investments in Securities: | 410,400,804 | 410,400,804 | - | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $8,220,352) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $326,843,081) | $ | 398,063,056 | ||
Fidelity Central Funds (cost $12,337,748) | 12,337,748 | |||
Total Investment in Securities (cost $339,180,829) | $ | 410,400,804 | ||
Cash | 39,650 | |||
Foreign currency held at value (cost $373,199) | 379,844 | |||
Receivable for investments sold | 1,228,586 | |||
Receivable for fund shares sold | 3,205,556 | |||
Dividends receivable | 473,982 | |||
Distributions receivable from Fidelity Central Funds | 34,557 | |||
Receivable from investment adviser for expense reductions | 358 | |||
Other receivables | 5 | |||
Total assets | 415,763,342 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 764,215 | ||
Other payables and accrued expenses | 6,779 | |||
Collateral on securities loaned | 8,318,400 | |||
Total Liabilities | 9,089,394 | |||
Net Assets | $ | 406,673,948 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 323,269,532 | ||
Total accumulated earnings (loss) | 83,404,416 | |||
Net Assets | $ | 406,673,948 | ||
Net Asset Value, offering price and redemption price per share ($406,673,948 ÷ 35,913,454 shares) | $ | 11.32 |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 3,446,992 | ||
Income from Fidelity Central Funds (including $44,828 from security lending) | 282,205 | |||
Total Income | 3,729,197 | |||
Expenses | ||||
Custodian fees and expenses | $ | 26,085 | ||
Independent trustees' fees and expenses | 2,370 | |||
Legal | 1,456 | |||
Interest | 5,676 | |||
Total expenses before reductions | 35,587 | |||
Expense reductions | (15,629) | |||
Total expenses after reductions | 19,958 | |||
Net Investment income (loss) | 3,709,239 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 13,561,888 | |||
Foreign currency transactions | (3,325) | |||
Total net realized gain (loss) | 13,558,563 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (5,219,000) | |||
Assets and liabilities in foreign currencies | 7,382 | |||
Total change in net unrealized appreciation (depreciation) | (5,211,618) | |||
Net gain (loss) | 8,346,945 | |||
Net increase (decrease) in net assets resulting from operations | $ | 12,056,184 |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 3,709,239 | $ | 4,070,375 |
Net realized gain (loss) | 13,558,563 | 36,754,089 | ||
Change in net unrealized appreciation (depreciation) | (5,211,618) | (107,069,322) | ||
Net increase (decrease) in net assets resulting from operations | 12,056,184 | (66,244,858) | ||
Distributions to shareholders | (34,872,065) | (92,151,608) | ||
Share transactions | ||||
Proceeds from sales of shares | 80,869,900 | 93,304,376 | ||
Reinvestment of distributions | 34,872,065 | 92,151,608 | ||
Cost of shares redeemed | (93,134,248) | (128,622,536) | ||
Net increase (decrease) in net assets resulting from share transactions | 22,607,717 | 56,833,448 | ||
Total increase (decrease) in net assets | (208,164) | (101,563,018) | ||
Net Assets | ||||
Beginning of period | 406,882,112 | 508,445,130 | ||
End of period | $ | 406,673,948 | $ | 406,882,112 |
Other Information | ||||
Shares | ||||
Sold | 7,324,557 | 7,557,448 | ||
Issued in reinvestment of distributions | 3,216,980 | 6,549,510 | ||
Redeemed | (8,100,778) | (10,479,350) | ||
Net increase (decrease) | 2,440,759 | 3,627,608 | ||
Fidelity Advisor® Series Small Cap Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 12.16 | $ | 17.04 | $ | 12.88 | $ | 11.72 | $ | 11.41 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .10 | .11 | .11 | .09 | .09 | |||||
Net realized and unrealized gain (loss) | .11 | (1.91) | 4.49 | 1.42 | 1.32 | |||||
Total from investment operations | .21 | (1.80) | 4.60 | 1.51 | 1.41 | |||||
Distributions from net investment income | (.11) | (.12) | (.12) | (.07) | (.11) C | |||||
Distributions from net realized gain | (.94) | (2.97) | (.32) | (.28) | (.99) C | |||||
Total distributions | (1.05) | (3.08) D | (.44) | (.35) | (1.10) | |||||
Net asset value, end of period | $ | 11.32 | $ | 12.16 | $ | 17.04 | $ | 12.88 | $ | 11.72 |
Total Return E | 2.11% | (13.01)% | 36.69% | 13.21% | 15.27% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .01% | .01% | .01% | .01% | .01% | |||||
Expenses net of fee waivers, if any | .01% | -% H | -% H | .01% | .01% | |||||
Expenses net of all reductions | .01% | -% H | -% H | .01% | .01% | |||||
Net investment income (loss) | .93% | .92% | .68% | .85% | .89% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 406,674 | $ | 406,882 | $ | 508,445 | $ | 467,212 | $ | 469,471 |
Portfolio turnover rate I | 40% | 57% | 51% | 58% | 76% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $101,237,325 |
Gross unrealized depreciation | (32,832,034) |
Net unrealized appreciation (depreciation) | $68,405,291 |
Tax Cost | $341,995,513 |
Undistributed ordinary income | $3,792,059 |
Undistributed long-term capital gain | $12,026,143 |
Net unrealized appreciation (depreciation) on securities and other investments | $67,586,212 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $3,620,052 | $22,701,419 |
Long-term Capital Gains | 31,252,013 | 69,450,189 |
Total | $34,872,065 | $92,151,608 |
Purchases ($) | Sales ($) | |
Fidelity Advisor Series Small Cap Fund | 157,773,076 | 167,586,348 |
Amount | |
Fidelity Advisor Series Small Cap Fund | $ 4,612 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Advisor Series Small Cap Fund | Borrower | $ 5,037,750 | 5.07% | $ 5,676 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor Series Small Cap Fund | 10,972,527 | 16,898,219 | (581,290) |
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 Series Small Cap Fund | $4,795 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity Advisor® Series Small Cap Fund | .01% | |||||||||
Actual | $ 1,000 | $ 1,069.90 | $ .05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.02 | $ .05 | |||||||
Item 2.
Code of Ethics
As of the end of the period, November 30, 2023, Fidelity Advisor Series I (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Advisor Equity Growth Fund, Fidelity Advisor Equity Income Fund, Fidelity Advisor Equity Value Fund, Fidelity Advisor Growth & Income Fund, Fidelity Advisor Growth Opportunities Fund, Fidelity Advisor Large Cap Fund, Fidelity Advisor Series Growth Opportunities Fund, Fidelity Advisor Stock Selector Mid Cap Fund, and Fidelity Advisor Value Strategies Fund (the “Funds”):
Services Billed by Deloitte Entities
November 30, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Advisor Equity Growth Fund | $46,800 | $- | $8,900 | $1,200 |
Fidelity Advisor Equity Income Fund | $43,400 | $- | $9,200 | $1,100 |
Fidelity Advisor Equity Value Fund | $41,200 | $- | $10,500 | $1,100 |
Fidelity Advisor Growth & Income Fund | $42,800 | $- | $7,400 | $1,100 |
Fidelity Advisor Growth Opportunities Fund | $51,000 | $- | $9,200 | $1,300 |
Fidelity Advisor Large Cap Fund | $44,000 | $- | $7,600 | $1,100 |
Fidelity Advisor Series Growth Opportunities Fund | $47,200 | $- | $9,200 | $1,200 |
Fidelity Advisor Stock Selector Mid Cap Fund | $42,800 | $- | $7,400 | $1,100 |
Fidelity Advisor Value Strategies Fund | $42,300 | $- | $11,000 | $1,200 |
November 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Advisor Equity Growth Fund | $46,900 | $- | $8,500 | $1,100 |
Fidelity Advisor Equity Income Fund | $43,300 | $- | $8,800 | $1,000 |
Fidelity Advisor Equity Value Fund | $41,200 | $- | $10,000 | $1,000 |
Fidelity Advisor Growth & Income Fund | $43,000 | $- | $7,100 | $1,000 |
Fidelity Advisor Growth Opportunities Fund | $50,500 | $- | $9,700 | $1,200 |
Fidelity Advisor Large Cap Fund | $44,100 | $- | $7,300 | $1,000 |
Fidelity Advisor Series Growth Opportunities Fund | $47,400 | $- | $8,800 | $1,100 |
Fidelity Advisor Stock Selector Mid Cap Fund | $43,000 | $- | $7,100 | $1,000 |
Fidelity Advisor Value Strategies Fund | $41,900 | $- | $10,500 | $1,100 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Advisor Dividend Growth Fund, Fidelity Advisor Series Equity Growth Fund, Fidelity Advisor Series Small Cap Fund, Fidelity Advisor Small Cap Fund, and Fidelity Real Estate High Income Fund (the “Funds”):
Services Billed by PwC
November 30, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Advisor Dividend Growth Fund | $47,800 | $4,300 | $8,600 | $1,400 |
Fidelity Advisor Series Equity Growth Fund | $26,900 | $2,600 | $7,400 | $900 |
Fidelity Advisor Series Small Cap Fund | $36,900 | $3,500 | $9,700 | $1,200 |
Fidelity Advisor Small Cap Fund | $38,300 | $3,500 | $9,000 | $1,200 |
Fidelity Real Estate High Income Fund | $159,200 | $13,200 | $14,900 | $4,400 |
November 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Advisor Dividend Growth Fund | $45,500 | $4,000 | $8,200 | $1,400 |
Fidelity Advisor Series Equity Growth Fund | $25,100 | $2,400 | $6,800 | $800 |
Fidelity Advisor Series Small Cap Fund | $34,600 | $3,200 | $8,300 | $1,100 |
Fidelity Advisor Small Cap Fund | $36,500 | $3,300 | $9,000 | $1,100 |
Fidelity Real Estate High Income Fund | $151,500 | $12,400 | $14,200 | $4,200 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
November 30, 2023A | November 30, 2022A | |
Audit-Related Fees | $- | $- |
Tax Fees | $- | $- |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
Services Billed by PwC
November 30, 2023A | November 30, 2022A | |
Audit-Related Fees | $8,284,200 | $7,914,600 |
Tax Fees | $1,000 | $1,000 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | November 30, 2023A | November 30, 2022A |
Deloitte Entities | $333,400 | $544,900 |
PwC | $13,673,600 | $12,963,400 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to
be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company
Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.
The Registrant is not a “foreign issuer,” as defined in 17 CFR 240.3b-4.
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 trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the
period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(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: | January 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | January 22, 2024 |