NPORT-EX 2 QTLY_86_20220831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Equity Growth Fund
August 31, 2022
EPG-NPRT3-1022
1.805739.118
Common Stocks - 96.6%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 13.0%
 
 
 
Entertainment - 3.0%
 
 
 
Universal Music Group NV
 
3,489,875
69,302
Warner Music Group Corp. Class A
 
2,322,543
62,174
 
 
 
131,476
Interactive Media & Services - 8.1%
 
 
 
Alphabet, Inc. Class A (a)
 
2,918,300
315,818
Bumble, Inc. (a)
 
372,300
9,326
Eventbrite, Inc. (a)
 
81,900
582
Meta Platforms, Inc. Class A (a)
 
108,939
17,749
Zoominfo Technologies, Inc. (a)
 
228,100
10,360
 
 
 
353,835
Media - 1.9%
 
 
 
Charter Communications, Inc. Class A (a)
 
104,100
42,955
Innovid Corp. (a)(b)
 
242,614
890
Liberty Media Corp. Liberty Formula One Group Series C (a)
 
615,000
39,163
 
 
 
83,008
TOTAL COMMUNICATION SERVICES
 
 
568,319
CONSUMER DISCRETIONARY - 10.6%
 
 
 
Automobiles - 0.5%
 
 
 
Ferrari NV
 
120,411
23,439
XPeng, Inc. ADR (a)
 
19,500
361
 
 
 
23,800
Diversified Consumer Services - 0.6%
 
 
 
Laureate Education, Inc. Class A
 
1,696,244
18,693
Mister Car Wash, Inc. (a)(c)
 
733,200
7,266
 
 
 
25,959
Hotels, Restaurants & Leisure - 1.1%
 
 
 
Airbnb, Inc. Class A (a)
 
250,100
28,291
Flutter Entertainment PLC (a)
 
128,600
16,082
Wingstop, Inc. (c)
 
46,600
5,306
 
 
 
49,679
Household Durables - 0.0%
 
 
 
Blu Investments LLC (a)(b)(d)
 
12,123,162
4
Internet & Direct Marketing Retail - 6.1%
 
 
 
Amazon.com, Inc. (a)
 
1,757,140
222,753
Lyft, Inc. (a)
 
163,500
2,408
Uber Technologies, Inc. (a)
 
1,491,723
42,902
 
 
 
268,063
Multiline Retail - 0.1%
 
 
 
Dollarama, Inc.
 
33,600
2,046
Specialty Retail - 1.3%
 
 
 
Aritzia, Inc. (a)
 
89,600
2,914
Five Below, Inc. (a)
 
168,700
21,573
Floor & Decor Holdings, Inc. Class A (a)
 
52,100
4,239
TJX Companies, Inc.
 
150,200
9,365
Victoria's Secret & Co. (a)
 
535,400
17,904
 
 
 
55,995
Textiles, Apparel & Luxury Goods - 0.9%
 
 
 
LVMH Moet Hennessy Louis Vuitton SE
 
30,717
19,821
On Holding AG
 
11,400
228
Samsonite International SA (a)(e)
 
8,160,900
19,950
 
 
 
39,999
TOTAL CONSUMER DISCRETIONARY
 
 
465,545
CONSUMER STAPLES - 4.5%
 
 
 
Beverages - 3.9%
 
 
 
Boston Beer Co., Inc. Class A (a)
 
44,200
14,899
Constellation Brands, Inc. Class A (sub. vtg.)
 
99,100
24,384
Keurig Dr. Pepper, Inc.
 
640,600
24,420
Monster Beverage Corp. (a)
 
362,377
32,190
The Coca-Cola Co.
 
1,221,700
75,391
 
 
 
171,284
Household Products - 0.6%
 
 
 
Reckitt Benckiser Group PLC
 
306,173
23,625
TOTAL CONSUMER STAPLES
 
 
194,909
ENERGY - 4.9%
 
 
 
Energy Equipment & Services - 0.8%
 
 
 
Baker Hughes Co. Class A
 
717,100
18,114
Cactus, Inc.
 
112,700
4,502
Championx Corp.
 
236,400
5,156
Helmerich & Payne, Inc. (c)
 
112,600
4,814
ProPetro Holding Corp. (a)
 
351,400
3,219
TechnipFMC PLC (a)
 
66,700
546
 
 
 
36,351
Oil, Gas & Consumable Fuels - 4.1%
 
 
 
Canadian Natural Resources Ltd.
 
280,300
15,363
Cheniere Energy, Inc.
 
356,100
57,040
Denbury, Inc. (a)
 
96,800
8,608
New Fortress Energy, Inc.
 
251,800
14,441
Range Resources Corp.
 
512,500
16,841
Reliance Industries Ltd.
 
2,057,625
67,375
 
 
 
179,668
TOTAL ENERGY
 
 
216,019
FINANCIALS - 5.3%
 
 
 
Banks - 0.1%
 
 
 
HDFC Bank Ltd.
 
135,292
2,479
M&T Bank Corp.
 
11,400
2,072
 
 
 
4,551
Capital Markets - 2.9%
 
 
 
CME Group, Inc.
 
342,880
67,071
MarketAxess Holdings, Inc.
 
50,400
12,529
Moody's Corp.
 
24,000
6,828
Morningstar, Inc.
 
30,900
7,045
MSCI, Inc.
 
40,311
18,109
S&P Global, Inc.
 
42,000
14,792
 
 
 
126,374
Insurance - 2.3%
 
 
 
American Financial Group, Inc.
 
164,210
20,966
Arthur J. Gallagher & Co.
 
243,231
44,163
BRP Group, Inc. (a)
 
273,400
8,585
Marsh & McLennan Companies, Inc.
 
173,200
27,949
 
 
 
101,663
TOTAL FINANCIALS
 
 
232,588
HEALTH CARE - 18.1%
 
 
 
Biotechnology - 5.7%
 
 
 
Adamas Pharmaceuticals, Inc.:
 
 
 
 rights (a)(d)
 
1,000,100
60
 rights (a)(d)
 
1,000,100
60
Affimed NV (a)
 
337,485
884
Alnylam Pharmaceuticals, Inc. (a)
 
85,100
17,588
Applied Therapeutics, Inc. (a)
 
82,690
113
Beam Therapeutics, Inc. (a)(c)
 
36,600
1,998
Cytokinetics, Inc. (a)
 
116,100
6,149
EQRx, Inc. (a)
 
243,811
1,192
Erasca, Inc. (a)
 
95,000
857
Evelo Biosciences, Inc. (a)
 
268,200
587
Galapagos NV sponsored ADR (a)
 
255,500
12,790
Gamida Cell Ltd. (a)(c)
 
934,668
2,477
Hookipa Pharma, Inc. (a)
 
669,700
998
Innovent Biologics, Inc. (a)(e)
 
615,500
2,595
Insmed, Inc. (a)
 
467,789
11,517
Prelude Therapeutics, Inc. (a)
 
17,000
122
Regeneron Pharmaceuticals, Inc. (a)
 
67,257
39,080
Rubius Therapeutics, Inc. (a)
 
80,596
56
Seagen, Inc. (a)
 
160,400
24,748
Seres Therapeutics, Inc. (a)
 
235,000
1,208
Synlogic, Inc. (a)
 
670,500
671
Vertex Pharmaceuticals, Inc. (a)
 
416,912
117,469
Vor Biopharma, Inc. (a)
 
252,839
1,297
XOMA Corp. (a)(c)
 
236,800
4,708
 
 
 
249,224
Health Care Equipment & Supplies - 0.8%
 
 
 
Edwards Lifesciences Corp. (a)
 
299,900
27,021
Insulet Corp. (a)
 
5,000
1,277
Nevro Corp. (a)
 
38,600
1,749
Penumbra, Inc. (a)
 
37,386
6,138
 
 
 
36,185
Health Care Providers & Services - 6.8%
 
 
 
Guardant Health, Inc. (a)
 
259,715
13,001
HealthEquity, Inc. (a)
 
689,300
45,549
Option Care Health, Inc. (a)
 
34,400
1,065
Tenet Healthcare Corp. (a)
 
50,400
2,848
UnitedHealth Group, Inc.
 
456,615
237,134
 
 
 
299,597
Health Care Technology - 0.3%
 
 
 
Certara, Inc. (a)(c)
 
406,023
6,362
Doximity, Inc. (a)(c)
 
72,200
2,396
Simulations Plus, Inc. (c)
 
73,700
4,426
 
 
 
13,184
Life Sciences Tools & Services - 2.2%
 
 
 
10X Genomics, Inc. (a)
 
40,696
1,343
Bio-Techne Corp.
 
33,300
11,049
Bruker Corp.
 
304,871
17,073
Codexis, Inc. (a)
 
365,704
2,564
Danaher Corp.
 
169,495
45,748
Nanostring Technologies, Inc. (a)
 
62,300
845
Thermo Fisher Scientific, Inc.
 
34,600
18,868
 
 
 
97,490
Pharmaceuticals - 2.3%
 
 
 
Aclaris Therapeutics, Inc. (a)
 
156,900
2,496
AstraZeneca PLC sponsored ADR
 
384,300
23,973
Eli Lilly & Co.
 
207,487
62,501
Euroapi SASU (a)
 
1,808
28
Nuvation Bio, Inc. (a)
 
186,501
522
Revance Therapeutics, Inc. (a)
 
281,200
5,596
Sanofi SA
 
46,100
3,769
 
 
 
98,885
TOTAL HEALTH CARE
 
 
794,565
INDUSTRIALS - 5.8%
 
 
 
Aerospace & Defense - 1.7%
 
 
 
Axon Enterprise, Inc. (a)
 
62,000
7,234
Northrop Grumman Corp.
 
69,400
33,173
The Boeing Co. (a)
 
220,800
35,383
 
 
 
75,790
Electrical Equipment - 0.5%
 
 
 
Ballard Power Systems, Inc. (a)(c)
 
17,100
133
Bloom Energy Corp. Class A (a)(c)
 
87,000
2,211
Ceres Power Holdings PLC (a)(c)
 
1,117,000
8,424
Eaton Corp. PLC
 
35,300
4,823
Vestas Wind Systems A/S
 
215,400
5,390
 
 
 
20,981
Machinery - 1.4%
 
 
 
Caterpillar, Inc.
 
93,800
17,326
Chart Industries, Inc. (a)(c)
 
45,400
8,801
Ingersoll Rand, Inc.
 
694,635
32,905
Parker Hannifin Corp.
 
10,600
2,809
 
 
 
61,841
Professional Services - 1.5%
 
 
 
ASGN, Inc. (a)
 
98,000
9,477
CoStar Group, Inc. (a)
 
25,400
1,769
KBR, Inc.
 
876,936
42,356
Kforce, Inc.
 
42,200
2,309
Upwork, Inc. (a)
 
485,588
8,449
 
 
 
64,360
Trading Companies & Distributors - 0.7%
 
 
 
Azelis Group NV
 
79,500
1,576
Ferguson PLC
 
264,500
30,684
 
 
 
32,260
TOTAL INDUSTRIALS
 
 
255,232
INFORMATION TECHNOLOGY - 29.4%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Teledyne Technologies, Inc. (a)
 
26,100
9,614
IT Services - 1.4%
 
 
 
Cloudflare, Inc. (a)
 
208,454
13,043
MasterCard, Inc. Class A
 
42,727
13,859
MongoDB, Inc. Class A (a)
 
103,968
33,567
Snowflake, Inc. (a)
 
7,500
1,357
 
 
 
61,826
Semiconductors & Semiconductor Equipment - 5.8%
 
 
 
Aixtron AG
 
457,400
10,747
Allegro MicroSystems LLC (a)
 
118,300
2,759
ASML Holding NV
 
35,851
17,565
eMemory Technology, Inc.
 
36,000
1,611
Enphase Energy, Inc. (a)
 
159,300
45,630
NVIDIA Corp.
 
336,384
50,774
NXP Semiconductors NV
 
50,700
8,344
Qualcomm, Inc.
 
475,592
62,907
Silicon Laboratories, Inc. (a)
 
7,520
942
SiTime Corp. (a)
 
76,600
8,151
SolarEdge Technologies, Inc. (a)
 
103,100
28,453
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
4,600
383
Universal Display Corp.
 
156,800
17,519
 
 
 
255,785
Software - 17.1%
 
 
 
Adobe, Inc. (a)
 
224,491
83,834
Confluent, Inc. (a)(c)
 
233,600
6,391
Elastic NV (a)
 
3,012
253
Epic Games, Inc. (a)(b)(d)
 
3,289
3,059
GitLab, Inc.
 
11,400
683
HashiCorp, Inc.
 
176,300
6,232
HubSpot, Inc. (a)
 
19,600
6,606
Intuit, Inc.
 
87,262
37,678
Manhattan Associates, Inc. (a)
 
162,627
22,973
Microsoft Corp.
 
1,821,003
476,138
Oracle Corp.
 
519,500
38,521
Palo Alto Networks, Inc. (a)(c)
 
110,813
61,702
Volue A/S (a)
 
1,027,700
3,258
 
 
 
747,328
Technology Hardware, Storage & Peripherals - 4.9%
 
 
 
Apple, Inc.
 
1,358,790
213,629
TOTAL INFORMATION TECHNOLOGY
 
 
1,288,182
MATERIALS - 4.0%
 
 
 
Chemicals - 3.6%
 
 
 
Albemarle Corp.
 
205,971
55,192
CF Industries Holdings, Inc.
 
434,900
44,995
Sherwin-Williams Co.
 
191,794
44,515
The Chemours Co. LLC
 
390,400
13,168
 
 
 
157,870
Metals & Mining - 0.4%
 
 
 
Lynas Rare Earths Ltd. (a)
 
1,869,759
11,170
MP Materials Corp. (a)(c)
 
188,600
6,599
 
 
 
17,769
TOTAL MATERIALS
 
 
175,639
REAL ESTATE - 0.7%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.5%
 
 
 
Prologis (REIT), Inc.
 
157,800
19,648
Welltower Op
 
28,200
2,162
 
 
 
21,810
Real Estate Management & Development - 0.2%
 
 
 
Doma Holdings, Inc. (a)(b)
 
487,314
294
WeWork, Inc. (a)(c)
 
2,132,100
8,742
 
 
 
9,036
TOTAL REAL ESTATE
 
 
30,846
UTILITIES - 0.3%
 
 
 
Electric Utilities - 0.2%
 
 
 
ORSTED A/S (e)
 
71,000
6,930
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Brookfield Renewable Partners LP
 
82,400
3,066
TOTAL UTILITIES
 
 
9,996
 
TOTAL COMMON STOCKS
 (Cost $2,962,283)
 
 
 
4,231,840
 
 
 
 
Convertible Preferred Stocks - 0.3%
 
 
Shares
Value ($)
(000s)
 
HEALTH CARE - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
ElevateBio LLC Series C (a)(b)(d)
 
111,100
508
INFORMATION TECHNOLOGY - 0.0%
 
 
 
IT Services - 0.0%
 
 
 
AppNexus, Inc. Series E (Escrow) (a)(b)(d)
 
105,425
3
Software - 0.0%
 
 
 
ASAPP, Inc. Series C (a)(b)(d)
 
367,427
1,224
TOTAL INFORMATION TECHNOLOGY
 
 
1,227
MATERIALS - 0.3%
 
 
 
Metals & Mining - 0.3%
 
 
 
Illuminated Holdings, Inc.:
 
 
 
 Series C2 (a)(b)(d)
 
76,285
3,598
 Series C3 (a)(b)(d)
 
95,356
4,497
 Series C4 (a)(b)(d)
 
27,230
1,284
 Series C5 (a)(b)(d)
 
53,844
2,539
 
 
 
11,918
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $10,964)
 
 
 
13,653
 
 
 
 
Money Market Funds - 3.9%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 2.33% (f)
 
133,929,321
133,956
Fidelity Securities Lending Cash Central Fund 2.34% (f)(g)
 
37,792,427
37,796
 
TOTAL MONEY MARKET FUNDS
 (Cost $171,752)
 
 
171,752
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.8%
 (Cost $3,144,999)
 
 
 
4,417,245
NET OTHER ASSETS (LIABILITIES) - (0.8)%  
(33,098)
NET ASSETS - 100.0%
4,384,147
 
 
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
Legend
 
(a)
Non-income producing
 
(b)
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 $17,900,000 or 0.4% of net assets.
 
(c)
Security or a portion of the security is on loan at period end.
 
(d)
Level 3 security
 
(e)
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 $29,475,000 or 0.7% of net assets.
 
(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 ($)
(000s)
AppNexus, Inc. Series E (Escrow)
8/01/14
0
ASAPP, Inc. Series C
4/30/21
2,424
Blu Investments LLC
5/21/20
21
Doma Holdings, Inc.
3/02/21
4,873
ElevateBio LLC Series C
3/09/21
466
Epic Games, Inc.
3/29/21
2,911
Illuminated Holdings, Inc. Series C2
7/07/20
1,907
Illuminated Holdings, Inc. Series C3
7/07/20
2,861
Illuminated Holdings, Inc. Series C4
1/08/21
980
Illuminated Holdings, Inc. Series C5
6/16/21
2,326
Innovid Corp.
6/24/21
2,426
 
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 2.33%
47,883
913,248
827,175
502
-
-
133,956
0.3%
Fidelity Securities Lending Cash Central Fund 2.34%
15,138
347,765
325,107
310
-
-
37,796
0.1%
Total
63,021
1,261,013
1,152,282
812
-
-
171,752
 
 
 
 
 
 
 
 
 
 
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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