Quarterly Holdings Report

for

Fidelity Advisor® Real Estate Fund

April 30, 2024

ARE-NPRT3-0624

1.800329.120

Common Stocks - 99.2%
	Shares	Value ($)
Equity Real Estate Investment Trusts (REITs) - 92.2%
REITs - Apartments - 11.9%
Essex Property Trust, Inc.	29,447	7,251,324
Invitation Homes, Inc.	162,600	5,560,920
Mid-America Apartment Communities, Inc.	64,000	8,320,000
UDR, Inc.	117,500	4,474,400
		25,606,644
REITs - Diversified - 20.6%
Crown Castle, Inc.	167,000	15,661,260
Digital Realty Trust, Inc.	62,500	8,673,750
Equinix, Inc.	22,900	16,284,419
Lamar Advertising Co. Class A	32,000	3,707,200
		44,326,629
REITs - Health Care - 9.2%
Ventas, Inc.	266,805	11,814,125
Welltower, Inc.	84,800	8,079,744
		19,893,869
REITs - Hotels - 2.9%
Ryman Hospitality Properties, Inc.	59,500	6,276,060
REITs - Management/Investment - 7.3%
American Tower Corp.	65,100	11,168,556
NNN (REIT), Inc.	114,700	4,648,791
		15,817,347
REITs - Manufactured Homes - 3.5%
Equity Lifestyle Properties, Inc.	107,706	6,493,595
Sun Communities, Inc.	8,600	957,352
		7,450,947
REITs - Office Property - 1.8%
Alexandria Real Estate Equities, Inc.	17,000	1,969,790
Douglas Emmett, Inc. (a)	140,700	1,928,997
		3,898,787
REITs - Regional Malls - 2.1%
Tanger, Inc.	161,100	4,567,185
REITs - Shopping Centers - 5.3%
Kite Realty Group Trust	31,900	695,420
SITE Centers Corp.	493,500	6,657,315
Urban Edge Properties	246,500	4,123,945
		11,476,680
REITs - Single Tenant - 4.1%
Four Corners Property Trust, Inc.	263,900	6,188,455
NETSTREIT Corp. (a)	159,500	2,687,575
		8,876,030
REITs - Storage - 8.1%
CubeSmart	281,600	11,387,904
Extra Space Storage, Inc.	44,700	6,002,316
		17,390,220
REITs - Warehouse/Industrial - 15.4%
Americold Realty Trust	218,200	4,793,854
EastGroup Properties, Inc.	18,800	2,920,768
Prologis, Inc.	215,416	21,983,202
Terreno Realty Corp.	61,800	3,358,830
		33,056,654
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)		198,637,052
Real Estate Management & Development - 7.0%
Real Estate Services - 7.0%
CBRE Group, Inc. (b)	132,200	11,486,858
CoStar Group, Inc. (b)	37,500	3,432,375
		14,919,233
TOTAL COMMON STOCKS (Cost $186,363,973)		213,556,285

Money Market Funds - 2.1%
	Shares	Value ($)
Fidelity Cash Central Fund 5.39% (c)	1,309,671	1,309,933
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d)	3,221,378	3,221,700
TOTAL MONEY MARKET FUNDS (Cost $4,531,632)		4,531,633

TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $190,895,605)	218,087,918
NET OTHER ASSETS (LIABILITIES) - (1.3)%	(2,708,862)
NET ASSETS - 100.0%	215,379,056

Legend

(a) Security or a portion of the security is on loan at period end.

(b) Non-income producing

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Investment made with cash collateral received from securities on loan.

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%	3,119,380	41,539,277	43,348,712	38,982	(12)	-	1,309,933	0.0%
Fidelity Securities Lending Cash Central Fund 5.39%	478,200	5,828,444	3,084,944	3,893	-	-	3,221,700	0.0%
Total	3,597,580	47,367,721	46,433,656	42,875	(12)	-	4,531,633

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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