NPORT-EX 2 QTLY_6_20230630.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Diversified Stock Fund
June 30, 2023
ADESI-NPRT3-0823
1.804792.119
Common Stocks - 98.2%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 10.0%
 
 
 
Entertainment - 1.4%
 
 
 
Electronic Arts, Inc.
 
10,367
1,344,600
Netflix, Inc. (a)
 
70,000
30,834,300
Sea Ltd. ADR (a)
 
21,800
1,265,272
Spotify Technology SA (a)
 
7,900
1,268,345
Universal Music Group NV
 
108,700
2,413,784
 
 
 
37,126,301
Interactive Media & Services - 8.1%
 
 
 
Alphabet, Inc. Class C (a)
 
1,040,660
125,888,640
Meta Platforms, Inc. Class A (a)
 
330,831
94,941,880
 
 
 
220,830,520
Media - 0.5%
 
 
 
Comcast Corp. Class A
 
339,100
14,089,605
TOTAL COMMUNICATION SERVICES
 
 
272,046,426
CONSUMER DISCRETIONARY - 10.3%
 
 
 
Broadline Retail - 2.8%
 
 
 
Amazon.com, Inc. (a)
 
550,500
71,763,180
Global-e Online Ltd. (a)
 
114,500
4,687,630
 
 
 
76,450,810
Hotels, Restaurants & Leisure - 3.3%
 
 
 
Airbnb, Inc. Class A (a)
 
166,700
21,364,272
Caesars Entertainment, Inc. (a)
 
127,900
6,519,063
Cava Group, Inc.
 
6,000
245,700
Compass Group PLC
 
274,105
7,675,804
Domino's Pizza, Inc.
 
10,200
3,437,298
Flutter Entertainment PLC (a)
 
35,100
7,043,166
Hilton Worldwide Holdings, Inc.
 
135,084
19,661,476
Marriott International, Inc. Class A
 
50,121
9,206,726
McDonald's Corp.
 
34,100
10,175,781
Penn Entertainment, Inc. (a)
 
131,011
3,148,194
Starbucks Corp.
 
18,400
1,822,704
 
 
 
90,300,184
Household Durables - 0.2%
 
 
 
D.R. Horton, Inc.
 
46,900
5,707,261
Specialty Retail - 1.8%
 
 
 
Lowe's Companies, Inc.
 
44,200
9,975,940
Revolve Group, Inc. (a)
 
25,900
424,760
RH (a)
 
1,000
329,590
TJX Companies, Inc.
 
456,440
38,701,548
 
 
 
49,431,838
Textiles, Apparel & Luxury Goods - 2.2%
 
 
 
Brunello Cucinelli SpA
 
201,600
17,730,865
LVMH Moet Hennessy Louis Vuitton SE
 
16,467
15,526,937
Moncler SpA
 
13,867
958,440
NIKE, Inc. Class B
 
108,100
11,930,997
On Holding AG (a)
 
6,700
221,100
Ralph Lauren Corp. (b)
 
30,500
3,760,650
Tapestry, Inc.
 
220,300
9,428,840
Tory Burch LLC (a)(c)(d)(e)
 
28,846
878,352
 
 
 
60,436,181
TOTAL CONSUMER DISCRETIONARY
 
 
282,326,274
CONSUMER STAPLES - 2.3%
 
 
 
Beverages - 1.3%
 
 
 
Boston Beer Co., Inc. Class A (a)
 
9,203
2,838,573
Diageo PLC
 
105,465
4,534,046
Monster Beverage Corp.
 
473,780
27,213,923
 
 
 
34,586,542
Household Products - 0.3%
 
 
 
The Clorox Co.
 
52,700
8,381,408
Personal Care Products - 0.1%
 
 
 
Kenvue, Inc.
 
92,000
2,430,640
Tobacco - 0.6%
 
 
 
Philip Morris International, Inc.
 
165,400
16,146,348
TOTAL CONSUMER STAPLES
 
 
61,544,938
ENERGY - 3.2%
 
 
 
Energy Equipment & Services - 1.8%
 
 
 
Baker Hughes Co. Class A
 
428,500
13,544,885
NOV, Inc.
 
478,000
7,667,120
Schlumberger Ltd.
 
455,400
22,369,248
TechnipFMC PLC (a)
 
389,900
6,480,138
Weatherford International PLC (a)
 
4,200
278,964
 
 
 
50,340,355
Oil, Gas & Consumable Fuels - 1.4%
 
 
 
Antero Resources Corp. (a)
 
54,724
1,260,294
Denbury, Inc. (a)
 
27,600
2,380,776
Exxon Mobil Corp.
 
208,934
22,408,172
Hess Corp.
 
32,895
4,472,075
Range Resources Corp.
 
233,140
6,854,316
 
 
 
37,375,633
TOTAL ENERGY
 
 
87,715,988
FINANCIALS - 10.6%
 
 
 
Banks - 1.1%
 
 
 
Bank of America Corp.
 
364,226
10,449,644
Huntington Bancshares, Inc.
 
68,200
735,196
JPMorgan Chase & Co.
 
114,200
16,609,248
Starling Bank Ltd. Series D (a)(d)(e)
 
879,300
3,260,796
 
 
 
31,054,884
Capital Markets - 2.7%
 
 
 
Ares Management Corp.
 
79,000
7,611,650
BlackRock, Inc. Class A
 
20,900
14,444,826
Cboe Global Markets, Inc.
 
21,100
2,912,011
CME Group, Inc.
 
12,900
2,390,241
Deutsche Borse AG
 
20,300
3,747,675
Goldman Sachs Group, Inc.
 
21,400
6,902,356
Intercontinental Exchange, Inc.
 
111,600
12,619,728
London Stock Exchange Group PLC
 
7,400
787,607
Moody's Corp.
 
7,900
2,746,988
Morgan Stanley
 
198,400
16,943,360
Raymond James Financial, Inc.
 
19,400
2,013,138
 
 
 
73,119,580
Consumer Finance - 0.3%
 
 
 
American Express Co.
 
47,100
8,204,820
Financial Services - 4.3%
 
 
 
Berkshire Hathaway, Inc. Class B (a)
 
42,145
14,371,445
Block, Inc. Class A (a)
 
68,100
4,533,417
MasterCard, Inc. Class A
 
178,159
70,069,935
Toast, Inc. (a)
 
209,800
4,735,186
Visa, Inc. Class A
 
99,100
23,534,268
 
 
 
117,244,251
Insurance - 2.2%
 
 
 
Arthur J. Gallagher & Co.
 
79,954
17,555,500
Chubb Ltd.
 
16,600
3,196,496
Globe Life, Inc.
 
33,100
3,628,422
Hartford Financial Services Group, Inc.
 
33,300
2,398,266
Marsh & McLennan Companies, Inc.
 
69,000
12,977,520
The Travelers Companies, Inc.
 
111,542
19,370,384
 
 
 
59,126,588
TOTAL FINANCIALS
 
 
288,750,123
HEALTH CARE - 13.3%
 
 
 
Biotechnology - 2.9%
 
 
 
Argenx SE ADR (a)
 
23,833
9,288,435
Biogen, Inc. (a)
 
17,800
5,070,330
Exact Sciences Corp. (a)
 
138,600
13,014,540
Gilead Sciences, Inc.
 
103,100
7,945,917
Karuna Therapeutics, Inc. (a)
 
9,300
2,016,705
Legend Biotech Corp. ADR (a)
 
175,900
12,142,377
Moderna, Inc. (a)
 
40,000
4,860,000
Nuvalent, Inc. Class A (a)
 
17,800
750,626
Prothena Corp. PLC (a)
 
22,200
1,515,816
Regeneron Pharmaceuticals, Inc. (a)
 
15,955
11,464,306
Vertex Pharmaceuticals, Inc. (a)
 
33,100
11,648,221
 
 
 
79,717,273
Health Care Equipment & Supplies - 3.9%
 
 
 
Baxter International, Inc.
 
27,100
1,234,676
Boston Scientific Corp. (a)
 
843,037
45,599,871
Inspire Medical Systems, Inc. (a)
 
3,700
1,201,168
Intuitive Surgical, Inc. (a)
 
40,500
13,848,570
Masimo Corp. (a)
 
75,000
12,341,250
Penumbra, Inc. (a)
 
1,800
619,308
Stryker Corp.
 
99,649
30,401,913
 
 
 
105,246,756
Health Care Providers & Services - 2.3%
 
 
 
agilon health, Inc. (a)
 
589,847
10,227,947
Cardinal Health, Inc.
 
17,900
1,692,803
Cigna Group
 
10,800
3,030,480
CVS Health Corp.
 
31,000
2,143,030
UnitedHealth Group, Inc.
 
97,008
46,625,925
 
 
 
63,720,185
Health Care Technology - 0.2%
 
 
 
Evolent Health, Inc. (d)
 
145,500
4,188,218
Life Sciences Tools & Services - 0.4%
 
 
 
Agilent Technologies, Inc.
 
35,900
4,316,975
Mettler-Toledo International, Inc. (a)
 
1,500
1,967,460
Thermo Fisher Scientific, Inc.
 
7,433
3,878,168
 
 
 
10,162,603
Pharmaceuticals - 3.6%
 
 
 
AstraZeneca PLC sponsored ADR
 
15,400
1,102,178
Eli Lilly & Co.
 
117,938
55,310,563
Merck & Co., Inc.
 
333,000
38,424,870
Novo Nordisk A/S Series B
 
23,400
3,780,032
Terns Pharmaceuticals, Inc. (a)
 
35,000
306,250
 
 
 
98,923,893
TOTAL HEALTH CARE
 
 
361,958,928
INDUSTRIALS - 13.2%
 
 
 
Aerospace & Defense - 3.6%
 
 
 
BWX Technologies, Inc.
 
4,000
286,280
Howmet Aerospace, Inc.
 
198,700
9,847,572
Lockheed Martin Corp.
 
64,400
29,648,472
The Boeing Co. (a)
 
247,603
52,283,849
TransDigm Group, Inc.
 
6,100
5,454,437
 
 
 
97,520,610
Building Products - 0.9%
 
 
 
ASSA ABLOY AB (B Shares)
 
25,000
600,924
Builders FirstSource, Inc. (a)
 
13,200
1,795,200
Fortune Brands Home & Security, Inc.
 
61,400
4,417,730
Trane Technologies PLC
 
90,949
17,394,906
 
 
 
24,208,760
Commercial Services & Supplies - 0.4%
 
 
 
Cintas Corp.
 
22,510
11,189,271
Copart, Inc. (a)
 
5,200
474,292
 
 
 
11,663,563
Construction & Engineering - 0.4%
 
 
 
Fluor Corp. (a)
 
299,900
8,877,040
Willscot Mobile Mini Holdings (a)
 
17,000
812,430
 
 
 
9,689,470
Electrical Equipment - 2.6%
 
 
 
Array Technologies, Inc. (a)
 
25,400
574,040
Eaton Corp. PLC
 
303,300
60,993,630
Hubbell, Inc. Class B
 
25,100
8,322,156
Prysmian SpA
 
10,800
451,128
Regal Rexnord Corp.
 
4,600
707,940
Vertiv Holdings Co.
 
30,000
743,100
 
 
 
71,791,994
Ground Transportation - 1.9%
 
 
 
Canadian Pacific Kansas City Ltd.
 
22,600
1,825,402
Lyft, Inc. (a)
 
238,300
2,285,297
Uber Technologies, Inc. (a)
 
1,137,872
49,121,934
 
 
 
53,232,633
Industrial Conglomerates - 1.3%
 
 
 
General Electric Co.
 
329,000
36,140,650
Machinery - 0.8%
 
 
 
Caterpillar, Inc.
 
74,500
18,330,725
PACCAR, Inc.
 
13,800
1,154,370
Pentair PLC
 
42,600
2,751,960
 
 
 
22,237,055
Passenger Airlines - 0.5%
 
 
 
Copa Holdings SA Class A (b)
 
69,100
7,641,078
Delta Air Lines, Inc.
 
115,600
5,495,624
 
 
 
13,136,702
Professional Services - 0.6%
 
 
 
Equifax, Inc.
 
58,800
13,835,640
Paycom Software, Inc.
 
6,500
2,088,060
 
 
 
15,923,700
Trading Companies & Distributors - 0.2%
 
 
 
Bunzl PLC
 
8,000
304,698
W.W. Grainger, Inc.
 
5,800
4,573,822
WESCO International, Inc.
 
4,700
841,582
 
 
 
5,720,102
TOTAL INDUSTRIALS
 
 
361,265,239
INFORMATION TECHNOLOGY - 32.2%
 
 
 
Electronic Equipment, Instruments & Components - 0.6%
 
 
 
Amphenol Corp. Class A
 
131,600
11,179,420
Flex Ltd. (a)
 
199,300
5,508,652
 
 
 
16,688,072
IT Services - 1.5%
 
 
 
Accenture PLC Class A
 
40,523
12,504,587
Shopify, Inc. Class A (a)
 
436,100
28,172,060
X Holdings Corp. Class A (e)
 
22,870
885,526
 
 
 
41,562,173
Semiconductors & Semiconductor Equipment - 13.0%
 
 
 
Advanced Micro Devices, Inc. (a)
 
165,700
18,874,887
Analog Devices, Inc.
 
141,000
27,468,210
Applied Materials, Inc.
 
35,800
5,174,532
ASML Holding NV (depository receipt)
 
14,100
10,218,975
First Solar, Inc. (a)
 
22,900
4,353,061
GlobalFoundries, Inc. (a)
 
215,500
13,916,990
Lam Research Corp.
 
21,001
13,500,703
Lattice Semiconductor Corp. (a)
 
43,900
4,217,473
Marvell Technology, Inc.
 
899,948
53,798,891
Monolithic Power Systems, Inc.
 
11,100
5,996,553
NVIDIA Corp.
 
345,200
146,026,504
NXP Semiconductors NV
 
27,100
5,546,828
ON Semiconductor Corp. (a)
 
192,200
18,178,276
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
249,900
25,219,908
Universal Display Corp.
 
24,700
3,560,011
 
 
 
356,051,802
Software - 13.8%
 
 
 
Adobe, Inc. (a)
 
38,019
18,590,911
Autodesk, Inc. (a)
 
42,900
8,777,769
Dynatrace, Inc. (a)
 
312,336
16,075,934
HubSpot, Inc. (a)
 
8,200
4,363,138
Microsoft Corp.
 
781,813
266,238,601
Oracle Corp.
 
127,800
15,219,702
Salesforce, Inc. (a)
 
117,895
24,906,498
Synopsys, Inc. (a)
 
17,200
7,489,052
Tenable Holdings, Inc. (a)
 
14,709
640,577
UiPath, Inc. Class A (a)
 
48,400
801,988
Workday, Inc. Class A (a)
 
60,900
13,756,701
 
 
 
376,860,871
Technology Hardware, Storage & Peripherals - 3.3%
 
 
 
Apple, Inc.
 
456,355
88,519,179
Samsung Electronics Co. Ltd.
 
15,000
825,999
 
 
 
89,345,178
TOTAL INFORMATION TECHNOLOGY
 
 
880,508,096
MATERIALS - 3.1%
 
 
 
Chemicals - 1.7%
 
 
 
Linde PLC
 
51,600
19,663,728
Sherwin-Williams Co.
 
104,966
27,870,572
 
 
 
47,534,300
Containers & Packaging - 0.1%
 
 
 
Aptargroup, Inc.
 
2,100
243,306
Ball Corp.
 
51,400
2,991,994
 
 
 
3,235,300
Metals & Mining - 1.3%
 
 
 
First Quantum Minerals Ltd.
 
260,600
6,165,091
Franco-Nevada Corp.
 
4,111
585,920
Freeport-McMoRan, Inc.
 
32,400
1,296,000
Newcrest Mining Ltd.
 
97,000
1,730,326
Newmont Corp.
 
523,200
22,319,712
Nucor Corp.
 
8,300
1,361,034
Wheaton Precious Metals Corp.
 
34,900
1,509,282
 
 
 
34,967,365
TOTAL MATERIALS
 
 
85,736,965
REAL ESTATE - 0.0%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.0%
 
 
 
Lamar Advertising Co. Class A
 
4,600
456,550
 
TOTAL COMMON STOCKS
 (Cost $1,845,711,417)
 
 
 
2,682,309,527
 
 
 
 
Convertible Preferred Stocks - 0.5%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 0.2%
 
 
 
Interactive Media & Services - 0.2%
 
 
 
ByteDance Ltd. Series E1 (a)(d)(e)
 
17,226
3,890,320
Reddit, Inc. Series E (a)(d)(e)
 
3,500
121,065
 
 
 
4,011,385
INFORMATION TECHNOLOGY - 0.3%
 
 
 
IT Services - 0.1%
 
 
 
Yanka Industries, Inc.:
 
 
 
 Series E (a)(d)(e)
 
165,574
1,188,821
 Series F (a)(d)(e)
 
265,105
1,903,454
 
 
 
3,092,275
Software - 0.2%
 
 
 
Evozyne LLC Series A (a)(d)(e)
 
20,000
344,800
Moloco, Inc. Series A (d)(e)
 
100,208
6,012,480
 
 
 
6,357,280
TOTAL INFORMATION TECHNOLOGY
 
 
9,449,555
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $18,948,765)
 
 
 
13,460,940
 
 
 
 
Money Market Funds - 1.6%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.14% (f)
 
36,623,620
36,630,945
Fidelity Securities Lending Cash Central Fund 5.14% (f)(g)
 
5,734,915
5,735,489
 
TOTAL MONEY MARKET FUNDS
 (Cost $42,366,434)
 
 
42,366,434
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.3%
 (Cost $1,907,026,616)
 
 
 
2,738,136,901
NET OTHER ASSETS (LIABILITIES) - (0.3)%  
(7,016,055)
NET ASSETS - 100.0%
2,731,120,846
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(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 $21,788,306 or 0.8% 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 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 ($)
 
ByteDance Ltd. Series E1
11/18/20
1,887,525
 
 
 
Evolent Health, Inc.
3/28/23
4,219,500
 
 
 
Evozyne LLC Series A
4/09/21
449,400
 
 
 
Moloco, Inc. Series A
6/26/23
6,012,480
 
 
 
Reddit, Inc. Series E
5/18/21
148,660
 
 
 
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
1,694,172
 
 
 
Tory Burch LLC
5/14/15
2,203,301
 
 
 
Yanka Industries, Inc. Series E
5/15/20
2,000,001
 
 
 
Yanka Industries, Inc. Series F
4/08/21
8,450,699
 
 
 
 
 
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 5.14%
73,108,960
384,124,903
420,602,918
1,979,611
-
-
36,630,945
0.1%
Fidelity Securities Lending Cash Central Fund 5.14%
2,193,014
84,347,689
80,805,214
5,113
-
-
5,735,489
0.0%
Total
75,301,974
468,472,592
501,408,132
1,984,724
-
-
42,366,434
 
 
 
 
 
 
 
 
 
 
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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