Quarterly Holdings Report
for
Fidelity Advisor® Mid Cap II Fund
September 30, 2023
AMP-NPRT3-1123
1.807739.119
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.3% | |||
Entertainment - 1.3% | |||
Endeavor Group Holdings, Inc. | 171,700 | 3,416,830 | |
Live Nation Entertainment, Inc. (a) | 48,100 | 3,994,224 | |
Spotify Technology SA (a) | 29,900 | 4,623,736 | |
TKO Group Holdings, Inc. | 62,800 | 5,278,968 | |
17,313,758 | |||
Interactive Media & Services - 0.8% | |||
Bumble, Inc. (a) | 289,700 | 4,322,324 | |
IAC, Inc. (a) | 121,900 | 6,142,541 | |
10,464,865 | |||
Media - 0.2% | |||
Interpublic Group of Companies, Inc. | 112,794 | 3,232,676 | |
TOTAL COMMUNICATION SERVICES | 31,011,299 | ||
CONSUMER DISCRETIONARY - 11.9% | |||
Automobile Components - 0.9% | |||
Autoliv, Inc. | 123,600 | 11,924,928 | |
Distributors - 0.3% | |||
Pool Corp. | 11,000 | 3,917,100 | |
Diversified Consumer Services - 0.5% | |||
European Wax Center, Inc. (a)(b) | 136,800 | 2,216,160 | |
Grand Canyon Education, Inc. (a) | 44,300 | 5,177,784 | |
7,393,944 | |||
Hotels, Restaurants & Leisure - 3.2% | |||
Amadeus IT Holding SA Class A | 65,600 | 3,972,689 | |
ARAMARK Holdings Corp. | 266,800 | 9,257,960 | |
Bowlero Corp. Class A (a)(b) | 187,301 | 1,801,836 | |
Caesars Entertainment, Inc. (a) | 73,549 | 3,408,996 | |
Churchill Downs, Inc. | 119,016 | 13,810,617 | |
Jubilant Foodworks Ltd. | 85,080 | 546,229 | |
Light & Wonder, Inc. Class A (a) | 102,600 | 7,318,458 | |
Red Rock Resorts, Inc. | 77,900 | 3,193,900 | |
43,310,685 | |||
Household Durables - 1.7% | |||
KB Home | 80,700 | 3,734,796 | |
NVR, Inc. (a) | 1,515 | 9,034,400 | |
Taylor Morrison Home Corp. (a) | 233,700 | 9,957,957 | |
22,727,153 | |||
Leisure Products - 0.7% | |||
YETI Holdings, Inc. (a)(b) | 182,000 | 8,776,040 | |
Specialty Retail - 2.9% | |||
America's Car Mart, Inc. (a) | 25,400 | 2,311,146 | |
Dick's Sporting Goods, Inc. | 81,500 | 8,849,270 | |
Five Below, Inc. (a) | 53,900 | 8,672,510 | |
Floor & Decor Holdings, Inc. Class A (a)(b) | 42,200 | 3,819,100 | |
Revolve Group, Inc. (a)(b) | 71,400 | 971,754 | |
Williams-Sonoma, Inc. (b) | 88,500 | 13,752,900 | |
38,376,680 | |||
Textiles, Apparel & Luxury Goods - 1.7% | |||
Deckers Outdoor Corp. (a) | 45,475 | 23,378,243 | |
TOTAL CONSUMER DISCRETIONARY | 159,804,773 | ||
CONSUMER STAPLES - 5.1% | |||
Beverages - 0.6% | |||
Boston Beer Co., Inc. Class A (a) | 21,600 | 8,413,848 | |
Consumer Staples Distribution & Retail - 4.0% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 242,700 | 17,321,499 | |
Maplebear, Inc. (b) | 3,300 | 97,977 | |
Performance Food Group Co. (a) | 266,700 | 15,697,962 | |
Sprouts Farmers Market LLC (a) | 142,400 | 6,094,720 | |
U.S. Foods Holding Corp. (a) | 355,400 | 14,109,380 | |
53,321,538 | |||
Food Products - 0.5% | |||
Nomad Foods Ltd. (a) | 279,900 | 4,260,078 | |
Westrock Coffee Holdings (a)(b) | 282,034 | 2,498,821 | |
6,758,899 | |||
TOTAL CONSUMER STAPLES | 68,494,285 | ||
ENERGY - 6.0% | |||
Energy Equipment & Services - 3.2% | |||
Baker Hughes Co. Class A | 260,900 | 9,214,988 | |
NOV, Inc. | 305,800 | 6,391,220 | |
Patterson-UTI Energy, Inc. | 541,891 | 7,499,771 | |
TechnipFMC PLC | 652,000 | 13,261,680 | |
Valaris Ltd. (a) | 96,307 | 7,221,099 | |
43,588,758 | |||
Oil, Gas & Consumable Fuels - 2.8% | |||
Antero Resources Corp. (a) | 206,700 | 5,246,046 | |
Cheniere Energy, Inc. | 23,700 | 3,933,252 | |
Magnolia Oil & Gas Corp. Class A | 162,200 | 3,716,002 | |
MEG Energy Corp. (a) | 109,600 | 2,132,691 | |
New Fortress Energy, Inc. (b) | 189,614 | 6,215,547 | |
Ovintiv, Inc. | 205,800 | 9,789,906 | |
Range Resources Corp. | 189,897 | 6,154,562 | |
37,188,006 | |||
TOTAL ENERGY | 80,776,764 | ||
FINANCIALS - 13.7% | |||
Banks - 4.0% | |||
Associated Banc-Corp. | 251,200 | 4,298,032 | |
Bancorp, Inc., Delaware (a) | 368,500 | 12,713,250 | |
Cadence Bank | 166,300 | 3,528,886 | |
East West Bancorp, Inc. | 221,788 | 11,690,445 | |
Popular, Inc. | 138,200 | 8,707,982 | |
Wintrust Financial Corp. | 172,100 | 12,993,550 | |
53,932,145 | |||
Capital Markets - 2.4% | |||
Ameriprise Financial, Inc. | 26,087 | 8,600,362 | |
Houlihan Lokey | 21,100 | 2,260,232 | |
Northern Trust Corp. | 79,600 | 5,530,608 | |
Raymond James Financial, Inc. | 90,786 | 9,117,638 | |
TMX Group Ltd. | 286,500 | 6,157,140 | |
31,665,980 | |||
Financial Services - 1.2% | |||
Equitable Holdings, Inc. | 132,800 | 3,770,192 | |
Essent Group Ltd. | 153,929 | 7,279,302 | |
Shift4 Payments, Inc. (a) | 90,600 | 5,016,522 | |
16,066,016 | |||
Insurance - 6.1% | |||
American Financial Group, Inc. | 45,400 | 5,069,818 | |
Arch Capital Group Ltd. (a) | 136,000 | 10,840,560 | |
Assurant, Inc. | 44,100 | 6,331,878 | |
Hartford Financial Services Group, Inc. | 152,400 | 10,806,684 | |
Old Republic International Corp. | 368,900 | 9,938,166 | |
Primerica, Inc. | 93,358 | 18,112,386 | |
Reinsurance Group of America, Inc. | 96,091 | 13,951,452 | |
Selective Insurance Group, Inc. | 65,200 | 6,726,684 | |
81,777,628 | |||
TOTAL FINANCIALS | 183,441,769 | ||
HEALTH CARE - 8.0% | |||
Biotechnology - 1.7% | |||
Argenx SE ADR (a) | 5,700 | 2,802,291 | |
Arrowhead Pharmaceuticals, Inc. (a) | 109,000 | 2,928,830 | |
Blueprint Medicines Corp. (a) | 34,700 | 1,742,634 | |
Legend Biotech Corp. ADR (a) | 41,800 | 2,807,706 | |
Repligen Corp. (a) | 16,500 | 2,623,665 | |
United Therapeutics Corp. (a) | 45,200 | 10,209,324 | |
23,114,450 | |||
Health Care Equipment & Supplies - 2.1% | |||
Boston Scientific Corp. (a) | 155,410 | 8,205,648 | |
Hologic, Inc. (a) | 47,079 | 3,267,283 | |
Masimo Corp. (a) | 29,835 | 2,615,933 | |
The Cooper Companies, Inc. | 16,239 | 5,164,164 | |
TransMedics Group, Inc. (a) | 40,400 | 2,211,900 | |
Zimmer Biomet Holdings, Inc. | 56,800 | 6,374,096 | |
27,839,024 | |||
Health Care Providers & Services - 2.4% | |||
agilon health, Inc. (a) | 238,800 | 4,241,088 | |
Encompass Health Corp. | 130,900 | 8,791,244 | |
Guardant Health, Inc. (a) | 34,600 | 1,025,544 | |
Molina Healthcare, Inc. (a) | 25,900 | 8,492,351 | |
Option Care Health, Inc. (a) | 295,200 | 9,549,720 | |
32,099,947 | |||
Health Care Technology - 0.2% | |||
Evolent Health, Inc. (a) | 15,100 | 411,173 | |
Evolent Health, Inc. (c) | 117,300 | 3,034,375 | |
3,445,548 | |||
Life Sciences Tools & Services - 0.9% | |||
10X Genomics, Inc. (a) | 37,600 | 1,551,000 | |
ICON PLC (a) | 17,200 | 4,235,500 | |
Sartorius Stedim Biotech | 9,800 | 2,341,597 | |
Thermo Fisher Scientific, Inc. | 7,130 | 3,608,992 | |
11,737,089 | |||
Pharmaceuticals - 0.7% | |||
UCB SA | 108,500 | 8,894,739 | |
TOTAL HEALTH CARE | 107,130,797 | ||
INDUSTRIALS - 22.1% | |||
Aerospace & Defense - 1.6% | |||
AerSale Corp. (a)(b) | 310,800 | 4,643,352 | |
Axon Enterprise, Inc. (a) | 18,300 | 3,641,517 | |
Howmet Aerospace, Inc. | 228,800 | 10,582,000 | |
Spirit AeroSystems Holdings, Inc. Class A | 112,300 | 1,812,522 | |
20,679,391 | |||
Air Freight & Logistics - 0.8% | |||
GXO Logistics, Inc. (a) | 178,888 | 10,491,781 | |
Building Products - 1.6% | |||
Builders FirstSource, Inc. (a) | 125,600 | 15,635,944 | |
Trex Co., Inc. (a) | 97,500 | 6,008,925 | |
21,644,869 | |||
Construction & Engineering - 1.8% | |||
Quanta Services, Inc. | 68,600 | 12,833,002 | |
Willscot Mobile Mini Holdings (a) | 282,700 | 11,757,493 | |
24,590,495 | |||
Electrical Equipment - 4.8% | |||
Acuity Brands, Inc. | 42,800 | 7,289,268 | |
AMETEK, Inc. | 86,000 | 12,707,360 | |
Generac Holdings, Inc. (a) | 55,200 | 6,014,592 | |
nVent Electric PLC | 214,500 | 11,366,355 | |
Regal Rexnord Corp. | 76,293 | 10,900,744 | |
Sunrun, Inc. (a)(b) | 276,007 | 3,466,648 | |
Vertiv Holdings Co. | 327,600 | 12,186,720 | |
63,931,687 | |||
Ground Transportation - 0.9% | |||
J.B. Hunt Transport Services, Inc. | 31,249 | 5,891,061 | |
RXO, Inc. | 197,000 | 3,886,810 | |
U-Haul Holding Co. (b) | 48,300 | 2,635,731 | |
12,413,602 | |||
Machinery - 5.9% | |||
Chart Industries, Inc. (a)(b) | 72,500 | 12,261,200 | |
Crane Co. | 138,800 | 12,330,992 | |
Fortive Corp. | 162,800 | 12,073,248 | |
Hillenbrand, Inc. | 76,600 | 3,240,946 | |
IDEX Corp. | 41,300 | 8,591,226 | |
Ingersoll Rand, Inc. | 141,300 | 9,003,636 | |
ITT, Inc. | 225,559 | 22,084,482 | |
79,585,730 | |||
Professional Services - 3.8% | |||
ASGN, Inc. (a) | 82,399 | 6,730,350 | |
FTI Consulting, Inc. (a) | 50,800 | 9,063,228 | |
KBR, Inc. | 304,100 | 17,923,654 | |
Maximus, Inc. | 160,100 | 11,956,268 | |
WNS Holdings Ltd. sponsored ADR (a) | 75,100 | 5,141,346 | |
50,814,846 | |||
Trading Companies & Distributors - 0.9% | |||
Applied Industrial Technologies, Inc. | 26,700 | 4,128,087 | |
NOW, Inc. (a) | 417,500 | 4,955,725 | |
RS GROUP PLC | 389,927 | 3,498,665 | |
12,582,477 | |||
TOTAL INDUSTRIALS | 296,734,878 | ||
INFORMATION TECHNOLOGY - 12.6% | |||
Communications Equipment - 0.6% | |||
Digi International, Inc. (a) | 294,800 | 7,959,600 | |
Electronic Equipment, Instruments & Components - 5.1% | |||
CDW Corp. | 38,551 | 7,778,050 | |
Crane Nxt Co. | 121,700 | 6,762,869 | |
Flex Ltd. (a) | 674,400 | 18,195,312 | |
IPG Photonics Corp. (a) | 48,600 | 4,934,844 | |
Jabil, Inc. | 246,974 | 31,338,531 | |
69,009,606 | |||
IT Services - 0.6% | |||
Endava PLC ADR (a) | 32,600 | 1,869,610 | |
Wix.com Ltd. (a) | 67,800 | 6,224,040 | |
8,093,650 | |||
Semiconductors & Semiconductor Equipment - 4.3% | |||
Allegro MicroSystems LLC (a) | 97,907 | 3,127,150 | |
Lattice Semiconductor Corp. (a) | 134,123 | 11,525,189 | |
Marvell Technology, Inc. | 59,700 | 3,231,561 | |
MKS Instruments, Inc. (b) | 99,400 | 8,602,076 | |
Nova Ltd. (a) | 45,300 | 5,093,532 | |
ON Semiconductor Corp. (a) | 145,600 | 13,533,520 | |
SolarEdge Technologies, Inc. (a) | 14,100 | 1,826,091 | |
Teradyne, Inc. | 97,600 | 9,804,896 | |
Universal Display Corp. | 4,300 | 675,057 | |
57,419,072 | |||
Software - 1.5% | |||
Dynatrace, Inc. (a) | 338,400 | 15,813,432 | |
Sage Group PLC | 233,200 | 2,813,975 | |
Zoom Video Communications, Inc. Class A (a) | 31,600 | 2,210,104 | |
20,837,511 | |||
Technology Hardware, Storage & Peripherals - 0.5% | |||
Corsair Gaming, Inc. (a) | 153,700 | 2,233,261 | |
Super Micro Computer, Inc. (a) | 15,600 | 4,277,832 | |
6,511,093 | |||
TOTAL INFORMATION TECHNOLOGY | 169,830,532 | ||
MATERIALS - 7.0% | |||
Chemicals - 2.1% | |||
Axalta Coating Systems Ltd. (a) | 265,100 | 7,131,190 | |
Celanese Corp. Class A | 77,200 | 9,690,144 | |
Element Solutions, Inc. | 582,600 | 11,424,786 | |
28,246,120 | |||
Construction Materials - 0.9% | |||
Martin Marietta Materials, Inc. | 28,600 | 11,739,728 | |
Containers & Packaging - 1.5% | |||
Aptargroup, Inc. | 77,500 | 9,690,600 | |
Avery Dennison Corp. | 59,100 | 10,795,797 | |
20,486,397 | |||
Metals & Mining - 2.5% | |||
Commercial Metals Co. | 66,800 | 3,300,588 | |
First Quantum Minerals Ltd. | 563,600 | 13,315,608 | |
Reliance Steel & Aluminum Co. | 46,000 | 12,062,580 | |
Wheaton Precious Metals Corp. | 121,500 | 4,930,668 | |
33,609,444 | |||
TOTAL MATERIALS | 94,081,689 | ||
REAL ESTATE - 7.2% | |||
Equity Real Estate Investment Trusts (REITs) - 6.7% | |||
Alexandria Real Estate Equities, Inc. | 32,200 | 3,223,220 | |
CubeSmart | 253,900 | 9,681,207 | |
EastGroup Properties, Inc. | 84,700 | 14,105,091 | |
Equity Lifestyle Properties, Inc. | 61,400 | 3,911,794 | |
Essex Property Trust, Inc. | 22,100 | 4,687,189 | |
Invitation Homes, Inc. | 296,500 | 9,396,085 | |
Lamar Advertising Co. Class A | 135,400 | 11,301,838 | |
Mid-America Apartment Communities, Inc. | 21,700 | 2,791,705 | |
NNN (REIT), Inc. | 113,400 | 4,007,556 | |
Ryman Hospitality Properties, Inc. | 125,200 | 10,426,656 | |
Sun Communities, Inc. | 29,000 | 3,431,860 | |
Terreno Realty Corp. | 59,500 | 3,379,600 | |
Ventas, Inc. | 223,800 | 9,428,694 | |
89,772,495 | |||
Real Estate Management & Development - 0.5% | |||
CBRE Group, Inc. (a) | 68,691 | 5,073,517 | |
Zillow Group, Inc. Class C (a)(b) | 53,400 | 2,464,944 | |
7,538,461 | |||
TOTAL REAL ESTATE | 97,310,956 | ||
UTILITIES - 3.8% | |||
Electric Utilities - 2.5% | |||
Constellation Energy Corp. | 120,800 | 13,176,864 | |
OGE Energy Corp. | 371,800 | 12,392,094 | |
PG&E Corp. (a) | 537,500 | 8,669,875 | |
34,238,833 | |||
Independent Power and Renewable Electricity Producers - 0.8% | |||
Clearway Energy, Inc. Class C | 268,200 | 5,675,112 | |
NextEra Energy Partners LP | 61,700 | 1,832,490 | |
The AES Corp. | 211,200 | 3,210,240 | |
10,717,842 | |||
Multi-Utilities - 0.5% | |||
NorthWestern Energy Corp. | 134,200 | 6,449,652 | |
TOTAL UTILITIES | 51,406,327 | ||
TOTAL COMMON STOCKS (Cost $1,036,495,371) | 1,340,024,069 | ||
Money Market Funds - 6.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (d) | 23,179,444 | 23,184,080 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 62,626,912 | 62,633,175 | |
TOTAL MONEY MARKET FUNDS (Cost $85,817,255) | 85,817,255 | ||
TOTAL INVESTMENT IN SECURITIES - 106.1% (Cost $1,122,312,626) | 1,425,841,324 |
NET OTHER ASSETS (LIABILITIES) - (6.1)% | (82,260,039) |
NET ASSETS - 100.0% | 1,343,581,285 |
Legend
(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 $3,034,375 or 0.2% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Evolent Health, Inc. | 3/28/23 | 3,401,700 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 20,872,756 | 209,735,851 | 207,424,527 | 460,577 | - | - | 23,184,080 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 25,306,750 | 217,939,356 | 180,612,931 | 217,847 | - | - | 62,633,175 | 0.2% |
Total | 46,179,506 | 427,675,207 | 388,037,458 | 678,424 | - | - | 85,817,255 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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