NPORT-EX 1 QTLY_223_20190831.htm

Quarterly Holdings Report
for

Fidelity Advisor® Growth Opportunities Fund

August 31, 2019







GO-QTLY-1019
1.805740.115





Schedule of Investments August 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.3%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 17.7%   
Entertainment - 3.2%   
Activision Blizzard, Inc. 560,500 $28,361 
Electronic Arts, Inc. (a) 264,700 24,797 
Netflix, Inc. (a) 297,200 87,303 
Take-Two Interactive Software, Inc. (a) 153,500 20,257 
The Walt Disney Co. 463,500 63,620 
  224,338 
Interactive Media & Services - 11.5%   
Alphabet, Inc.:   
Class A (a) 98,565 117,345 
Class C (a) 301,975 358,776 
CarGurus, Inc. Class A (a) 1,520,400 49,595 
Facebook, Inc. Class A (a) 1,342,341 249,232 
IAC/InterActiveCorp (a) 130,500 33,231 
Pinterest, Inc. Class A (b) 68,100 2,344 
  810,523 
Media - 1.6%   
Charter Communications, Inc. Class A (a) 100,860 41,311 
Comcast Corp. Class A 1,568,600 69,426 
  110,737 
Wireless Telecommunication Services - 1.4%   
T-Mobile U.S., Inc. (a) 1,224,300 95,557 
TOTAL COMMUNICATION SERVICES  1,241,155 
CONSUMER DISCRETIONARY - 18.2%   
Automobiles - 1.4%   
Tesla, Inc. (a)(b) 415,477 93,736 
Hotels, Restaurants & Leisure - 1.4%   
Hilton Grand Vacations, Inc. (a) 1,373,300 46,376 
Planet Fitness, Inc. (a) 157,400 11,114 
Sea Ltd. ADR (a)(b) 1,270,800 40,818 
  98,308 
Household Durables - 1.2%   
Roku, Inc. Class A (a) 560,840 84,889 
Internet & Direct Marketing Retail - 10.5%   
Alibaba Group Holding Ltd. sponsored ADR (a) 538,600 94,271 
Amazon.com, Inc. (a) 196,100 348,330 
Chewy, Inc. (b) 33,600 1,109 
JD.com, Inc. sponsored ADR (a) 2,550 78 
Meituan Dianping Class B 4,707,100 44,544 
MercadoLibre, Inc. (a) 58,700 34,903 
Naspers Ltd. Class N 134,300 30,562 
Pinduoduo, Inc. ADR (a)(b) 2,664,500 87,316 
The Booking Holdings, Inc. (a) 33,600 66,071 
Waitr Holdings, Inc. (a)(b)(c) 5,131,500 8,877 
Wayfair LLC Class A (a) 202,778 22,861 
  738,922 
Multiline Retail - 0.2%   
Dollar Tree, Inc. (a) 147,500 14,976 
Specialty Retail - 3.3%   
Carvana Co. Class A (a)(b) 1,775,956 144,137 
Floor & Decor Holdings, Inc. Class A (a)(b) 873,500 42,994 
Lowe's Companies, Inc. 268,200 30,092 
The Home Depot, Inc. 61,800 14,085 
  231,308 
Textiles, Apparel & Luxury Goods - 0.2%   
Allbirds, Inc. (d)(e) 4,746 220 
lululemon athletica, Inc. (a) 76,216 14,075 
  14,295 
TOTAL CONSUMER DISCRETIONARY  1,276,434 
CONSUMER STAPLES - 1.9%   
Beverages - 0.5%   
Constellation Brands, Inc. Class A (sub. vtg.) 29,600 6,049 
Fever-Tree Drinks PLC 914,217 25,141 
Luckin Coffee, Inc. ADR (b) 196,900 4,155 
  35,345 
Food & Staples Retailing - 0.5%   
BJ's Wholesale Club Holdings, Inc. (a) 649,672 17,060 
Performance Food Group Co. (a) 411,650 19,261 
Walmart, Inc. 3,700 423 
  36,744 
Food Products - 0.1%   
Beyond Meat, Inc. (b) 52,500 8,801 
Personal Products - 0.1%   
Unilever NV 99,400 6,168 
Tobacco - 0.7%   
Altria Group, Inc. 1,115,700 48,801 
JUUL Labs, Inc. (a)(d)(e) 2,772 790 
  49,591 
TOTAL CONSUMER STAPLES  136,649 
ENERGY - 1.1%   
Oil, Gas & Consumable Fuels - 1.1%   
Reliance Industries Ltd. 4,262,797 74,487 
FINANCIALS - 4.5%   
Banks - 0.3%   
HDFC Bank Ltd. sponsored ADR 180,711 19,481 
Capital Markets - 1.3%   
BlackRock, Inc. Class A 32,000 13,522 
Cboe Global Markets, Inc. 168,900 20,126 
Charles Schwab Corp. 563,800 21,577 
Morningstar, Inc. 5,000 808 
MSCI, Inc. 34,900 8,189 
S&P Global, Inc. 10,800 2,810 
TD Ameritrade Holding Corp. 504,500 22,405 
  89,437 
Consumer Finance - 0.2%   
Synchrony Financial 511,200 16,384 
Diversified Financial Services - 1.3%   
GDS Holdings Ltd. ADR (a)(b) 2,254,144 90,932 
Thrifts & Mortgage Finance - 1.4%   
LendingTree, Inc. (a)(b) 318,800 98,857 
TOTAL FINANCIALS  315,091 
HEALTH CARE - 12.1%   
Biotechnology - 4.7%   
AbbVie, Inc. 383,600 25,218 
ACADIA Pharmaceuticals, Inc. (a) 182,819 5,057 
Acorda Therapeutics, Inc. (a) 229,223 740 
Agios Pharmaceuticals, Inc. (a) 54,400 2,064 
Aimmune Therapeutics, Inc. (a) 53,200 1,085 
Alexion Pharmaceuticals, Inc. (a) 571,888 57,623 
Alnylam Pharmaceuticals, Inc. (a) 221,773 17,895 
AnaptysBio, Inc. (a) 63,100 2,565 
Argenx SE ADR (a) 7,700 1,012 
Ascendis Pharma A/S sponsored ADR (a) 50,728 5,683 
BeiGene Ltd. 129,100 1,415 
bluebird bio, Inc. (a) 86,500 8,936 
Blueprint Medicines Corp. (a) 23,100 1,771 
Celgene Corp. (a) 190,500 18,440 
Crinetics Pharmaceuticals, Inc. (a) 232,700 3,691 
FibroGen, Inc. (a) 417,400 18,641 
Gritstone Oncology, Inc. 314,701 3,185 
Heron Therapeutics, Inc. (a) 265,700 4,921 
Insmed, Inc. (a) 1,055,779 17,357 
Intercept Pharmaceuticals, Inc. (a) 50,335 3,231 
La Jolla Pharmaceutical Co. (a) 466,200 4,462 
Neurocrine Biosciences, Inc. (a) 218,075 21,681 
Rigel Pharmaceuticals, Inc. (a) 97,742 165 
Sage Therapeutics, Inc. (a) 54,044 9,278 
Sarepta Therapeutics, Inc. (a) 255,428 23,027 
Sienna Biopharmaceuticals, Inc. (a) 46,400 35 
TransMedics Group, Inc. 637,983 15,280 
Vertex Pharmaceuticals, Inc. (a) 319,990 57,605 
  332,063 
Health Care Equipment & Supplies - 3.4%   
Axonics Modulation Technologies, Inc. (a) 20,700 689 
Becton, Dickinson & Co. 168,000 42,659 
Boston Scientific Corp. (a) 1,594,711 68,142 
DexCom, Inc. (a) 129,100 22,155 
Insulet Corp. (a) 113,655 17,522 
Intuitive Surgical, Inc. (a) 32,700 16,721 
Masimo Corp. (a) 86,300 13,225 
Novocure Ltd. (a) 428,900 38,970 
Penumbra, Inc. (a) 130,000 18,922 
Wright Medical Group NV (a) 73,400 1,530 
  240,535 
Health Care Providers & Services - 3.2%   
Centene Corp. (a) 147,500 6,876 
Cigna Corp. 148,812 22,913 
G1 Therapeutics, Inc. (a) 96,200 3,492 
Humana, Inc. 239,600 67,857 
OptiNose, Inc. (a) 39,400 302 
UnitedHealth Group, Inc. 532,100 124,511 
  225,951 
Life Sciences Tools & Services - 0.3%   
Avantor, Inc. 846,100 14,807 
Thermo Fisher Scientific, Inc. 6,800 1,952 
  16,759 
Pharmaceuticals - 0.5%   
AstraZeneca PLC sponsored ADR 110,100 4,958 
Bristol-Myers Squibb Co. 290,400 13,960 
Nabriva Therapeutics PLC (a)(b)(c) 3,885,900 7,850 
Nektar Therapeutics (a) 300,800 5,285 
TherapeuticsMD, Inc. (a)(b) 323,000 933 
Theravance Biopharma, Inc. (a) 152,125 3,351 
  36,337 
TOTAL HEALTH CARE  851,645 
INDUSTRIALS - 2.5%   
Aerospace & Defense - 0.2%   
Northrop Grumman Corp. 30,900 11,367 
Airlines - 1.0%   
JetBlue Airways Corp. (a) 1,206,800 20,902 
Spirit Airlines, Inc. (a) 1,305,406 49,005 
  69,907 
Electrical Equipment - 0.4%   
Sunrun, Inc. (a) 1,066,400 16,348 
Vestas Wind Systems A/S 157,400 11,565 
  27,913 
Machinery - 0.2%   
Minebea Mitsumi, Inc. 1,052,500 16,258 
Professional Services - 0.4%   
CoStar Group, Inc. (a) 8,200 5,042 
TransUnion Holding Co., Inc. 315,900 26,425 
  31,467 
Road & Rail - 0.3%   
Lyft, Inc. 238,358 11,672 
Uber Technologies, Inc. 218,981 6,776 
  18,448 
TOTAL INDUSTRIALS  175,360 
INFORMATION TECHNOLOGY - 35.9%   
Electronic Equipment & Components - 0.2%   
TTM Technologies, Inc. (a) 1,094,553 11,668 
Internet Software & Services - 0.2%   
Qudian, Inc. ADR (a)(b) 1,557,400 12,444 
IT Services - 8.6%   
Accenture PLC Class A 6,200 1,229 
Adyen BV (a)(f) 6,226 4,508 
Alliance Data Systems Corp. 442,677 54,427 
Elastic NV (b) 231,400 20,338 
EPAM Systems, Inc. (a) 57,300 10,963 
Fastly, Inc. Class A (b) 12,200 386 
Fidelity National Information Services, Inc. 141,200 19,234 
Genpact Ltd. 82,100 3,363 
Global Payments, Inc. 290,500 48,217 
GoDaddy, Inc. (a) 892,049 56,502 
Interxion Holding N.V. (a) 33,300 2,695 
MasterCard, Inc. Class A 301,100 84,721 
MongoDB, Inc. Class A (a) 84,433 12,860 
Okta, Inc. (a) 77,000 9,741 
PagSeguro Digital Ltd. (a) 15,100 754 
PayPal Holdings, Inc. (a) 604,300 65,899 
Visa, Inc. Class A 536,500 97,010 
Wix.com Ltd. (a) 802,335 112,527 
  605,374 
Semiconductors & Semiconductor Equipment - 7.0%   
Analog Devices, Inc. 175,000 19,220 
Applied Materials, Inc. 905,700 43,492 
Broadcom, Inc. 133,100 37,619 
Lam Research Corp. 266,900 56,185 
Marvell Technology Group Ltd. 2,366,600 56,727 
Micron Technology, Inc. (a) 1,307,900 59,209 
NVIDIA Corp. 598,230 100,210 
NXP Semiconductors NV 797,200 81,426 
ON Semiconductor Corp. (a) 1,353,300 24,089 
Qualcomm, Inc. 189,200 14,714 
SolarEdge Technologies, Inc. (a) 16,900 1,384 
  494,275 
Software - 15.1%   
Adobe, Inc. (a) 293,500 83,504 
Autodesk, Inc. (a) 337,800 48,245 
Carbon Black, Inc. (a) 4,900 128 
DocuSign, Inc. (a) 93,251 4,354 
Intuit, Inc. 97,700 28,173 
Microsoft Corp. 3,832,500 528,339 
Parametric Technology Corp. (a) 128,300 8,400 
Q2 Holdings, Inc. (a) 20,400 1,835 
RingCentral, Inc. (a) 55,400 7,819 
Salesforce.com, Inc. (a) 1,158,853 180,862 
ServiceNow, Inc. (a) 136,000 35,610 
Slack Technologies, Inc. Class A (a)(b) 393,500 11,270 
SS&C Technologies Holdings, Inc. 210,500 9,811 
SurveyMonkey 8,400 141 
The Trade Desk, Inc. (a)(b) 354,900 87,224 
Workday, Inc. Class A (a) 118,700 21,043 
Zoom Video Communications, Inc. Class A (b) 7,800 715 
  1,057,473 
Technology Hardware, Storage & Peripherals - 4.8%   
Apple, Inc. 1,503,050 313,747 
Western Digital Corp. 360,000 20,617 
  334,364 
TOTAL INFORMATION TECHNOLOGY  2,515,598 
MATERIALS - 0.8%   
Chemicals - 0.8%   
LG Chemical Ltd. 104,456 28,523 
Olin Corp. 791,000 13,431 
The Chemours Co. LLC 1,022,200 14,485 
  56,439 
REAL ESTATE - 1.1%   
Equity Real Estate Investment Trusts (REITs) - 1.1%   
American Tower Corp. 264,700 60,931 
Equinix, Inc. 32,500 18,079 
  79,010 
UTILITIES - 0.5%   
Electric Utilities - 0.4%   
NextEra Energy, Inc. 78,500 17,198 
ORSTED A/S (f) 141,500 13,511 
  30,709 
Independent Power and Renewable Electricity Producers - 0.1%   
Sunnova Energy International, Inc. 640,400 6,763 
TOTAL UTILITIES  37,472 
TOTAL COMMON STOCKS   
(Cost $5,012,656)  6,759,340 
Preferred Stocks - 2.5%   
Convertible Preferred Stocks - 2.5%   
CONSUMER DISCRETIONARY - 0.0%   
Hotels, Restaurants & Leisure - 0.0%   
Neutron Holdings, Inc. Series C (a)(d)(e) 6,477,300 1,571 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (d)(e) 1,873 87 
Series B (d)(e) 329 15 
Series C (d)(e) 3,146 146 
  248 
TOTAL CONSUMER DISCRETIONARY  1,819 
CONSUMER STAPLES - 2.3%   
Tobacco - 2.3%   
JUUL Labs, Inc.:   
Series C (a)(d)(e) 566,439 161,435 
Series D (a)(d)(e) 3,671 1,046 
  162,481 
FINANCIALS - 0.1%   
Insurance - 0.1%   
Clover Health Series D (a)(d)(e) 282,226 2,647 
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
Nuvation Bio, Inc. Series A (d)(e)(g) 1,839,200 1,419 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series I (a)(d)(e) 16,438 3,518 
INFORMATION TECHNOLOGY - 0.0%   
Software - 0.0%   
Cloudflare, Inc. Series D, 8.00% (a)(d)(e) 60,400 1,075 
REAL ESTATE - 0.0%   
Real Estate Management & Development - 0.0%   
Sonder Canada, Inc. Series D (d)(e) 126,152 1,324 
TOTAL CONVERTIBLE PREFERRED STOCKS  174,283 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc. (d)(e) 1,006 47 
TOTAL PREFERRED STOCKS   
(Cost $10,365)  174,330 
Money Market Funds - 7.5%   
Fidelity Cash Central Fund 2.13% (h) 83,490,588 83,507 
Fidelity Securities Lending Cash Central Fund 2.13% (h)(i) 439,926,062 439,970 
TOTAL MONEY MARKET FUNDS   
(Cost $523,467)  523,477 
TOTAL INVESTMENT IN SECURITIES - 106.3%   
(Cost $5,546,488)  7,457,147 
NET OTHER ASSETS (LIABILITIES) - (6.3)%  (441,882) 
NET ASSETS - 100%  $7,015,265 

Legend

 (a) Non-income producing

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

 (c) Affiliated company

 (d) Restricted securities - 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 $175,340,000 or 2.5% of net assets.

 (e) Level 3 security

 (f) 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 $18,019,000 or 0.3% of net assets.

 (g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (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 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) 
Allbirds, Inc. 10/9/18 $260 
Allbirds, Inc. 10/9/18 $55 
Allbirds, Inc. Series A 10/9/18 $103 
Allbirds, Inc. Series B 10/9/18 $18 
Allbirds, Inc. Series C 10/9/18 $173 
Cloudflare, Inc. Series D, 8.00% 9/10/18 $664 
Clover Health Series D 6/7/17 $2,647 
JUUL Labs, Inc. 11/21/17 $0 
JUUL Labs, Inc. Series C 5/22/15 $0 
JUUL Labs, Inc. Series D 6/25/18 $0 
Neutron Holdings, Inc. Series C 7/3/18 $1,184 
Nuvation Bio, Inc. Series A 6/17/19 $1,419 
Sonder Canada, Inc. Series D 5/21/19 $1,324 
Space Exploration Technologies Corp. Series I 4/5/18 $2,778 

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
 (Amounts in thousands) 
Fidelity Cash Central Fund $1,995 
Fidelity Securities Lending Cash Central Fund 1,542 
Total $3,537 

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount 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.

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

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 
Nabriva Therapeutics PLC $2,574 $5,877 $-- $-- $-- $(601) $7,850 
Waitr Holdings, Inc. -- 39,334 -- -- -- (30,457) 8,877 
Total $2,574 $45,211 $-- $-- $-- $(31,058) $16,727 

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's 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 vendor 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 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 open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the 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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