NPORT-EX 2 QTLY_714_20220228.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity Advisor® Dividend Growth Fund
February 28, 2022
ADGF-NPRT1-0422
1.797922.118
Common Stocks - 98.4%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 7.9%
 
 
 
Diversified Telecommunication Services - 2.7%
 
 
 
Cellnex Telecom SA (a)
 
184,700
8,354
Deutsche Telekom AG
 
338,200
6,062
Verizon Communications, Inc.
 
317,000
17,013
 
 
 
31,429
Entertainment - 2.1%
 
 
 
Activision Blizzard, Inc.
 
126,400
10,302
Electronic Arts, Inc.
 
52,100
6,778
The Walt Disney Co. (b)
 
51,700
7,675
 
 
 
24,755
Interactive Media & Services - 1.9%
 
 
 
Alphabet, Inc. Class A (b)
 
5,100
13,776
Meta Platforms, Inc. Class A (b)
 
42,400
8,948
 
 
 
22,724
Media - 1.2%
 
 
 
Comcast Corp. Class A
 
296,450
13,862
TOTAL COMMUNICATION SERVICES
 
 
92,770
CONSUMER DISCRETIONARY - 9.7%
 
 
 
Auto Components - 0.0%
 
 
 
Lear Corp.
 
3,600
566
Automobiles - 0.3%
 
 
 
General Motors Co. (b)
 
73,700
3,443
Diversified Consumer Services - 0.2%
 
 
 
H&R Block, Inc. (c)
 
73,800
1,831
Hotels, Restaurants & Leisure - 2.9%
 
 
 
Churchill Downs, Inc.
 
41,000
9,876
Domino's Pizza, Inc.
 
11,800
5,100
Hilton Worldwide Holdings, Inc. (b)
 
38,200
5,686
Krispy Kreme, Inc. (c)
 
105,500
1,573
Marriott International, Inc. Class A (b)
 
33,000
5,615
Restaurant Brands International, Inc. (c)
 
105,400
5,900
Starbucks Corp.
 
100
9
 
 
 
33,759
Household Durables - 2.0%
 
 
 
D.R. Horton, Inc.
 
41,300
3,527
Lennar Corp. Class A
 
130,300
11,711
Sony Group Corp.
 
25,900
2,646
Whirlpool Corp. (c)
 
29,900
6,018
 
 
 
23,902
Internet & Direct Marketing Retail - 0.2%
 
 
 
eBay, Inc.
 
53,800
2,937
Multiline Retail - 1.6%
 
 
 
Dollar General Corp.
 
82,600
16,383
Target Corp.
 
12,000
2,397
 
 
 
18,780
Specialty Retail - 2.2%
 
 
 
American Eagle Outfitters, Inc.
 
900
19
Camping World Holdings, Inc. (c)
 
239,500
7,355
Lowe's Companies, Inc.
 
66,400
14,678
Williams-Sonoma, Inc.
 
26,400
3,824
 
 
 
25,876
Textiles, Apparel & Luxury Goods - 0.3%
 
 
 
adidas AG
 
5,100
1,206
PVH Corp.
 
19,100
1,870
 
 
 
3,076
TOTAL CONSUMER DISCRETIONARY
 
 
114,170
CONSUMER STAPLES - 8.7%
 
 
 
Beverages - 3.5%
 
 
 
Constellation Brands, Inc. Class A (sub. vtg.)
 
19,200
4,140
Diageo PLC
 
134,554
6,666
Keurig Dr. Pepper, Inc.
 
396,900
15,348
The Coca-Cola Co.
 
232,600
14,477
 
 
 
40,631
Food & Staples Retailing - 1.8%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
181,500
7,124
BJ's Wholesale Club Holdings, Inc. (b)
 
44,700
2,810
Walmart, Inc.
 
86,400
11,678
 
 
 
21,612
Household Products - 1.4%
 
 
 
Reynolds Consumer Products, Inc.
 
200,300
5,963
Spectrum Brands Holdings, Inc.
 
116,385
10,798
 
 
 
16,761
Tobacco - 2.0%
 
 
 
Altria Group, Inc.
 
280,373
14,380
Swedish Match Co. AB
 
1,231,500
8,953
 
 
 
23,333
TOTAL CONSUMER STAPLES
 
 
102,337
ENERGY - 5.1%
 
 
 
Oil, Gas & Consumable Fuels - 5.1%
 
 
 
ARC Resources Ltd.
 
232,800
2,878
Cameco Corp. (c)
 
113,600
2,792
Canadian Natural Resources Ltd. (c)
 
190,100
10,613
Energy Transfer LP
 
472,200
4,788
Enterprise Products Partners LP
 
450,000
10,989
Exxon Mobil Corp.
 
165,122
12,949
Hess Corp.
 
39,000
3,941
Reliance Industries Ltd. sponsored GDR (a)
 
164,800
10,344
Viper Energy Partners LP
 
16,353
481
 
 
 
59,775
FINANCIALS - 7.9%
 
 
 
Banks - 1.4%
 
 
 
Wells Fargo & Co.
 
310,690
16,582
Capital Markets - 2.9%
 
 
 
BlackRock, Inc. Class A
 
10,300
7,662
Brookfield Asset Management, Inc. Class A
 
88,700
4,847
Intercontinental Exchange, Inc.
 
130,700
16,745
S&P Global, Inc.
 
14,048
5,278
 
 
 
34,532
Diversified Financial Services - 0.6%
 
 
 
Apollo Global Management, Inc.
 
103,100
6,728
Insurance - 3.0%
 
 
 
Arthur J. Gallagher & Co.
 
79,400
12,560
Brookfield Asset Management Reinsurance Partners Ltd.
 
491
27
Marsh & McLennan Companies, Inc.
 
49,000
7,615
The Travelers Companies, Inc.
 
84,600
14,537
 
 
 
34,739
TOTAL FINANCIALS
 
 
92,581
HEALTH CARE - 12.8%
 
 
 
Biotechnology - 0.4%
 
 
 
AbbVie, Inc.
 
29,100
4,300
Health Care Providers & Services - 4.8%
 
 
 
Cigna Corp.
 
63,500
15,099
CVS Health Corp.
 
60,500
6,271
Humana, Inc.
 
27,300
11,857
UnitedHealth Group, Inc.
 
48,397
23,031
 
 
 
56,258
Life Sciences Tools & Services - 1.5%
 
 
 
Danaher Corp.
 
13,500
3,705
Thermo Fisher Scientific, Inc.
 
26,800
14,579
 
 
 
18,284
Pharmaceuticals - 6.1%
 
 
 
AstraZeneca PLC (United Kingdom)
 
61,900
7,524
Bristol-Myers Squibb Co.
 
268,200
18,417
Eli Lilly & Co.
 
49,000
12,248
Merck KGaA
 
47,200
9,362
Pfizer, Inc.
 
43,200
2,028
Roche Holding AG (participation certificate)
 
28,770
10,896
Sanofi SA
 
39,600
4,139
UCB SA
 
67,900
7,410
 
 
 
72,024
TOTAL HEALTH CARE
 
 
150,866
INDUSTRIALS - 10.7%
 
 
 
Aerospace & Defense - 2.5%
 
 
 
Airbus Group NV
 
59,600
7,610
L3Harris Technologies, Inc.
 
8,300
2,094
Northrop Grumman Corp.
 
20,000
8,843
The Boeing Co. (b)
 
50,500
10,370
 
 
 
28,917
Air Freight & Logistics - 0.3%
 
 
 
United Parcel Service, Inc. Class B
 
14,300
3,009
Airlines - 0.1%
 
 
 
Copa Holdings SA Class A (b)
 
17,300
1,468
Building Products - 0.2%
 
 
 
Fortune Brands Home & Security, Inc.
 
29,300
2,546
Commercial Services & Supplies - 1.0%
 
 
 
GFL Environmental, Inc.
 
381,600
11,157
Industrial Conglomerates - 2.1%
 
 
 
General Electric Co.
 
232,887
22,243
Hitachi Ltd.
 
53,900
2,649
 
 
 
24,892
Machinery - 2.4%
 
 
 
Allison Transmission Holdings, Inc.
 
295,043
11,784
Deere & Co.
 
20,100
7,236
Fortive Corp.
 
23,800
1,541
PACCAR, Inc.
 
19,600
1,799
Toro Co.
 
61,500
5,769
 
 
 
28,129
Marine - 0.2%
 
 
 
2020 Bulkers Ltd.
 
202,600
2,637
Professional Services - 0.6%
 
 
 
Cool Co. Ltd. (b)
 
173,200
1,579
Equifax, Inc.
 
21,900
4,782
Leidos Holdings, Inc.
 
5,900
601
 
 
 
6,962
Road & Rail - 1.2%
 
 
 
Canadian Pacific Railway Ltd.
 
99,800
7,014
TFI International, Inc. (Canada)
 
73,600
7,672
 
 
 
14,686
Trading Companies & Distributors - 0.1%
 
 
 
Watsco, Inc.
 
5,400
1,475
TOTAL INDUSTRIALS
 
 
125,878
INFORMATION TECHNOLOGY - 23.8%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Jabil, Inc.
 
44,400
2,567
IT Services - 5.4%
 
 
 
Amadeus IT Holding SA Class A (b)
 
27,800
1,834
Cognizant Technology Solutions Corp. Class A
 
83,900
7,226
DXC Technology Co. (b)
 
111,100
3,781
Fidelity National Information Services, Inc.
 
80,600
7,676
Genpact Ltd.
 
261,700
10,950
Global Payments, Inc.
 
20,800
2,774
MasterCard, Inc. Class A
 
20,500
7,397
Visa, Inc. Class A
 
100,900
21,807
 
 
 
63,445
Semiconductors & Semiconductor Equipment - 4.1%
 
 
 
Broadcom, Inc.
 
16,000
9,399
Intel Corp.
 
12,700
606
KLA Corp.
 
10,500
3,659
Lam Research Corp.
 
8,900
4,996
Marvell Technology, Inc.
 
207,200
14,158
Microchip Technology, Inc.
 
15,100
1,062
NVIDIA Corp.
 
22,000
5,365
NXP Semiconductors NV
 
15,200
2,890
Teradyne, Inc.
 
39,800
4,693
Universal Display Corp.
 
11,200
1,735
 
 
 
48,563
Software - 10.5%
 
 
 
Intuit, Inc.
 
26,200
12,428
Microsoft Corp.
 
304,800
91,072
Oracle Corp.
 
71,200
5,409
SAP SE
 
18,700
2,109
SS&C Technologies Holdings, Inc.
 
159,300
11,943
 
 
 
122,961
Technology Hardware, Storage & Peripherals - 3.6%
 
 
 
Apple, Inc.
 
215,196
35,533
Samsung Electronics Co. Ltd.
 
106,640
6,426
 
 
 
41,959
TOTAL INFORMATION TECHNOLOGY
 
 
279,495
MATERIALS - 2.3%
 
 
 
Chemicals - 0.9%
 
 
 
Air Products & Chemicals, Inc.
 
4,700
1,111
Valvoline, Inc.
 
285,400
9,227
 
 
 
10,338
Metals & Mining - 1.4%
 
 
 
Franco-Nevada Corp.
 
900
132
Freeport-McMoRan, Inc.
 
111,000
5,211
Glencore Xstrata PLC
 
1,795,700
10,559
Newmont Corp.
 
16,600
1,099
 
 
 
17,001
TOTAL MATERIALS
 
 
27,339
REAL ESTATE - 3.7%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 3.7%
 
 
 
American Tower Corp.
 
41,300
9,370
Crown Castle International Corp.
 
7,200
1,199
CubeSmart
 
18,700
902
Digital Realty Trust, Inc.
 
52,000
7,016
Four Corners Property Trust, Inc.
 
116,900
3,084
National Retail Properties, Inc.
 
46,700
1,990
Park Hotels & Resorts, Inc. (b)
 
185,600
3,497
Public Storage
 
11,600
4,118
Simon Property Group, Inc.
 
80,400
11,060
The Macerich Co.
 
94,200
1,441
 
 
 
43,677
UTILITIES - 5.8%
 
 
 
Electric Utilities - 2.9%
 
 
 
Constellation Energy Corp.
 
30,433
1,399
Duke Energy Corp.
 
6,100
613
Edison International
 
171,800
10,896
Exelon Corp.
 
227,800
9,695
FirstEnergy Corp.
 
64,800
2,712
Southern Co.
 
133,500
8,647
 
 
 
33,962
Gas Utilities - 0.3%
 
 
 
Brookfield Infrastructure Corp. A Shares
 
60,000
4,226
Independent Power and Renewable Electricity Producers - 1.2%
 
 
 
NextEra Energy Partners LP
 
52,200
4,072
The AES Corp.
 
346,800
7,363
Vistra Corp.
 
140,200
3,199
 
 
 
14,634
Multi-Utilities - 1.4%
 
 
 
CenterPoint Energy, Inc.
 
350,500
9,586
Dominion Energy, Inc.
 
81,000
6,442
 
 
 
16,028
TOTAL UTILITIES
 
 
68,850
 
TOTAL COMMON STOCKS
 (Cost $950,807)
 
 
 
1,157,738
 
 
 
 
Money Market Funds - 3.6%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 0.07% (d)
 
20,948,651
20,953
Fidelity Securities Lending Cash Central Fund 0.07% (d)(e)
 
21,190,596
21,193
 
TOTAL MONEY MARKET FUNDS
 (Cost $42,146)
 
 
42,146
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 102.0%
 (Cost $992,953)
 
 
 
1,199,884
NET OTHER ASSETS (LIABILITIES) - (2.0)%  
(23,560)
NET ASSETS - 100.0%
1,176,324
 
 
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
Legend
 
(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 $18,698,000 or 1.6% 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 are available on the SEC's website or upon request.
 
(e)
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 (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 0.07%
2,542
54,681
36,270
2
-
-
20,953
0.0%
Fidelity Securities Lending Cash Central Fund 0.07%
25,359
32,231
36,397
24
-
-
21,193
0.1%
Total
27,901
86,912
72,667
26
-
-
42,146
 
 
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.
 
 
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 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 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 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 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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