NPORT-EX 2 QTLY_714_20220831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Dividend Growth Fund
August 31, 2022
ADGF-NPRT3-1022
1.805738.118
Common Stocks - 97.4%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 6.2%
 
 
 
Diversified Telecommunication Services - 2.6%
 
 
 
Cellnex Telecom SA (a)
 
154,200
6,005
Deutsche Telekom AG
 
268,000
5,051
Verizon Communications, Inc.
 
398,000
16,640
 
 
 
27,696
Entertainment - 1.3%
 
 
 
Activision Blizzard, Inc.
 
128,100
10,055
Electronic Arts, Inc.
 
29,000
3,679
 
 
 
13,734
Interactive Media & Services - 1.4%
 
 
 
Alphabet, Inc. Class A (b)
 
72,800
7,878
Meta Platforms, Inc. Class A (b)
 
43,800
7,136
 
 
 
15,014
Media - 0.9%
 
 
 
Comcast Corp. Class A
 
287,450
10,403
TOTAL COMMUNICATION SERVICES
 
 
66,847
CONSUMER DISCRETIONARY - 7.3%
 
 
 
Diversified Consumer Services - 0.2%
 
 
 
H&R Block, Inc.
 
55,400
2,493
Hotels, Restaurants & Leisure - 2.0%
 
 
 
Churchill Downs, Inc.
 
19,200
3,784
Domino's Pizza, Inc.
 
16,300
6,061
Expedia, Inc. (b)
 
34,700
3,562
Hilton Worldwide Holdings, Inc.
 
11,300
1,439
Krispy Kreme, Inc. (c)
 
96,900
1,139
Restaurant Brands International, Inc.
 
100,700
5,941
Starbucks Corp.
 
100
8
 
 
 
21,934
Household Durables - 2.0%
 
 
 
D.R. Horton, Inc.
 
132,300
9,413
Lennar Corp. Class A
 
148,200
11,478
 
 
 
20,891
Multiline Retail - 1.4%
 
 
 
Dollar General Corp.
 
56,400
13,390
Kohl's Corp.
 
36,900
1,049
Target Corp.
 
2,900
465
 
 
 
14,904
Specialty Retail - 1.7%
 
 
 
Camping World Holdings, Inc. (c)
 
34,500
1,039
Lowe's Companies, Inc.
 
49,000
9,513
TJX Companies, Inc.
 
96,200
5,998
Williams-Sonoma, Inc.
 
9,900
1,473
 
 
 
18,023
TOTAL CONSUMER DISCRETIONARY
 
 
78,245
CONSUMER STAPLES - 9.7%
 
 
 
Beverages - 3.5%
 
 
 
Constellation Brands, Inc. Class A (sub. vtg.)
 
38,900
9,571
Keurig Dr. Pepper, Inc.
 
396,900
15,130
The Coca-Cola Co.
 
212,300
13,101
 
 
 
37,802
Food & Staples Retailing - 1.8%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
187,400
8,053
Sysco Corp.
 
11,500
946
Walmart, Inc.
 
77,900
10,326
 
 
 
19,325
Food Products - 0.8%
 
 
 
Archer Daniels Midland Co.
 
29,000
2,549
The J.M. Smucker Co.
 
40,300
5,642
 
 
 
8,191
Household Products - 1.4%
 
 
 
Reynolds Consumer Products, Inc. (c)
 
436,400
12,189
Spectrum Brands Holdings, Inc.
 
39,285
2,475
 
 
 
14,664
Tobacco - 2.2%
 
 
 
Altria Group, Inc.
 
246,373
11,116
Philip Morris International, Inc.
 
39,500
3,772
Swedish Match Co. AB
 
912,600
9,162
 
 
 
24,050
TOTAL CONSUMER STAPLES
 
 
104,032
ENERGY - 6.9%
 
 
 
Energy Equipment & Services - 0.3%
 
 
 
Baker Hughes Co. Class A
 
129,600
3,274
Oil, Gas & Consumable Fuels - 6.6%
 
 
 
ARC Resources Ltd.
 
615,100
8,491
Arch Resources, Inc. (c)
 
31,300
4,557
Cameco Corp.
 
85,100
2,481
Canadian Natural Resources Ltd.
 
137,200
7,520
Cool Co. Ltd. (b)
 
173,200
1,882
Energy Transfer LP
 
754,900
8,840
Enterprise Products Partners LP
 
462,500
12,173
Exxon Mobil Corp.
 
111,922
10,699
Reliance Industries Ltd. sponsored GDR (a)(b)
 
124,600
8,211
Viper Energy Partners LP
 
220,553
6,731
 
 
 
71,585
TOTAL ENERGY
 
 
74,859
FINANCIALS - 7.7%
 
 
 
Banks - 1.7%
 
 
 
Bank of America Corp.
 
121,000
4,067
Wells Fargo & Co.
 
312,890
13,676
 
 
 
17,743
Capital Markets - 2.4%
 
 
 
BlackRock, Inc. Class A
 
7,800
5,198
Brookfield Asset Management, Inc. Class A
 
86,600
4,166
Intercontinental Exchange, Inc.
 
122,300
12,334
S&P Global, Inc.
 
12,548
4,419
 
 
 
26,117
Diversified Financial Services - 0.4%
 
 
 
Apollo Global Management, Inc.
 
81,700
4,541
Insurance - 3.2%
 
 
 
Arthur J. Gallagher & Co.
 
74,000
13,436
Brookfield Asset Management Reinsurance Partners Ltd.
 
491
24
Marsh & McLennan Companies, Inc.
 
47,400
7,649
The Travelers Companies, Inc.
 
82,000
13,254
 
 
 
34,363
TOTAL FINANCIALS
 
 
82,764
HEALTH CARE - 14.1%
 
 
 
Biotechnology - 0.3%
 
 
 
AbbVie, Inc.
 
29,100
3,913
Health Care Equipment & Supplies - 1.3%
 
 
 
Baxter International, Inc.
 
135,500
7,786
Becton, Dickinson & Co.
 
25,100
6,336
 
 
 
14,122
Health Care Providers & Services - 6.7%
 
 
 
Cigna Corp.
 
81,600
23,130
CVS Health Corp.
 
84,800
8,323
HCA Holdings, Inc.
 
19,200
3,799
Humana, Inc.
 
25,900
12,478
UnitedHealth Group, Inc.
 
46,897
24,355
 
 
 
72,085
Life Sciences Tools & Services - 1.5%
 
 
 
Danaher Corp.
 
12,000
3,239
Thermo Fisher Scientific, Inc.
 
23,000
12,542
 
 
 
15,781
Pharmaceuticals - 4.3%
 
 
 
AstraZeneca PLC (United Kingdom)
 
25,400
3,142
Bristol-Myers Squibb Co.
 
270,900
18,261
Eli Lilly & Co.
 
32,000
9,639
Perrigo Co. PLC
 
224,200
8,390
Pfizer, Inc.
 
40,900
1,850
Roche Holding AG (participation certificate)
 
12,670
4,083
Sanofi SA
 
9,400
768
 
 
 
46,133
TOTAL HEALTH CARE
 
 
152,034
INDUSTRIALS - 8.4%
 
 
 
Aerospace & Defense - 2.2%
 
 
 
Airbus Group NV
 
19,700
1,930
L3Harris Technologies, Inc.
 
13,300
3,035
Lockheed Martin Corp.
 
7,900
3,319
Northrop Grumman Corp.
 
17,300
8,269
The Boeing Co. (b)
 
41,800
6,698
 
 
 
23,251
Air Freight & Logistics - 0.2%
 
 
 
United Parcel Service, Inc. Class B
 
13,700
2,665
Airlines - 0.0%
 
 
 
Copa Holdings SA Class A (b)
 
2,900
206
Building Products - 0.1%
 
 
 
Fortune Brands Home & Security, Inc.
 
20,800
1,278
Commercial Services & Supplies - 0.9%
 
 
 
GFL Environmental, Inc.
 
359,100
10,117
Industrial Conglomerates - 1.3%
 
 
 
General Electric Co.
 
167,887
12,330
Hitachi Ltd.
 
44,000
2,198
 
 
 
14,528
Machinery - 2.1%
 
 
 
Allison Transmission Holdings, Inc.
 
289,643
10,502
Caterpillar, Inc.
 
10,000
1,847
Deere & Co.
 
18,400
6,721
Fortive Corp.
 
23,800
1,507
Toro Co.
 
20,100
1,667
 
 
 
22,244
Marine - 0.2%
 
 
 
2020 Bulkers Ltd.
 
202,600
1,808
Professional Services - 0.5%
 
 
 
Equifax, Inc.
 
21,300
4,020
Leidos Holdings, Inc.
 
10,400
989
 
 
 
5,009
Road & Rail - 0.9%
 
 
 
Canadian Pacific Railway Ltd.
 
73,000
5,465
TFI International, Inc. (Canada)
 
40,700
4,061
 
 
 
9,526
TOTAL INDUSTRIALS
 
 
90,632
INFORMATION TECHNOLOGY - 20.0%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Jabil, Inc.
 
42,400
2,557
IT Services - 6.2%
 
 
 
Cognizant Technology Solutions Corp. Class A
 
66,600
4,207
DXC Technology Co. (b)
 
46,600
1,155
Fidelity National Information Services, Inc.
 
97,800
8,936
Genpact Ltd.
 
288,800
13,568
Global Payments, Inc.
 
19,900
2,472
MasterCard, Inc. Class A
 
17,400
5,644
SS&C Technologies Holdings, Inc.
 
218,900
12,206
Visa, Inc. Class A
 
92,900
18,460
 
 
 
66,648
Semiconductors & Semiconductor Equipment - 3.2%
 
 
 
Broadcom, Inc.
 
14,500
7,237
KLA Corp.
 
8,000
2,753
Lam Research Corp.
 
6,900
3,022
Marvell Technology, Inc.
 
229,700
10,755
Microchip Technology, Inc.
 
13,400
874
NVIDIA Corp.
 
24,500
3,698
NXP Semiconductors NV
 
14,500
2,386
Teradyne, Inc.
 
35,300
2,988
Universal Display Corp.
 
6,000
670
 
 
 
34,383
Software - 8.5%
 
 
 
Intuit, Inc.
 
26,400
11,399
Microsoft Corp.
 
274,300
71,721
Oracle Corp.
 
112,700
8,357
 
 
 
91,477
Technology Hardware, Storage & Peripherals - 1.9%
 
 
 
Apple, Inc.
 
108,596
17,073
Samsung Electronics Co. Ltd.
 
87,950
3,881
 
 
 
20,954
TOTAL INFORMATION TECHNOLOGY
 
 
216,019
MATERIALS - 3.4%
 
 
 
Chemicals - 1.2%
 
 
 
CF Industries Holdings, Inc.
 
44,500
4,604
Valvoline, Inc.
 
288,200
8,378
 
 
 
12,982
Metals & Mining - 2.2%
 
 
 
Barrick Gold Corp.
 
132,200
1,963
Freeport-McMoRan, Inc.
 
146,900
4,348
Glencore Xstrata PLC
 
1,847,000
10,099
Newmont Corp.
 
184,700
7,639
 
 
 
24,049
TOTAL MATERIALS
 
 
37,031
REAL ESTATE - 4.4%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 4.4%
 
 
 
American Tower Corp.
 
39,700
10,086
Crown Castle International Corp.
 
30,200
5,159
CubeSmart
 
50,900
2,344
Digital Realty Trust, Inc.
 
49,000
6,058
Four Corners Property Trust, Inc.
 
185,400
4,985
National Retail Properties, Inc.
 
102,800
4,616
Park Hotels & Resorts, Inc.
 
133,400
1,868
Prologis (REIT), Inc.
 
22,900
2,851
Public Storage
 
12,300
4,069
Simon Property Group, Inc.
 
57,000
5,813
 
 
 
47,849
UTILITIES - 9.3%
 
 
 
Electric Utilities - 4.9%
 
 
 
Constellation Energy Corp.
 
39,733
3,242
Duke Energy Corp.
 
26,000
2,780
Edison International
 
180,400
12,226
Exelon Corp.
 
258,900
11,368
FirstEnergy Corp.
 
184,000
7,277
NextEra Energy, Inc.
 
52,500
4,466
PG&E Corp. (b)
 
50,466
622
Southern Co.
 
136,400
10,512
 
 
 
52,493
Gas Utilities - 0.6%
 
 
 
Brookfield Infrastructure Corp. A Shares
 
139,100
6,621
Independent Power and Renewable Electricity Producers - 2.1%
 
 
 
NextEra Energy Partners LP
 
95,400
7,831
The AES Corp.
 
449,000
11,427
Vistra Corp.
 
156,400
3,871
 
 
 
23,129
Multi-Utilities - 1.7%
 
 
 
CenterPoint Energy, Inc.
 
316,400
9,976
Dominion Energy, Inc.
 
100,600
8,229
 
 
 
18,205
TOTAL UTILITIES
 
 
100,448
 
TOTAL COMMON STOCKS
 (Cost $941,435)
 
 
 
1,050,760
 
 
 
 
Money Market Funds - 3.6%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 2.33% (d)
 
29,468,822
29,475
Fidelity Securities Lending Cash Central Fund 2.34% (d)(e)
 
9,085,616
9,087
 
TOTAL MONEY MARKET FUNDS
 (Cost $38,562)
 
 
38,562
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.0%
 (Cost $979,997)
 
 
 
1,089,322
NET OTHER ASSETS (LIABILITIES) - (1.0)%  
(10,787)
NET ASSETS - 100.0%
1,078,535
 
 
 
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 $14,216,000 or 1.3% 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 2.33%
2,542
188,469
161,536
244
-
-
29,475
0.1%
Fidelity Securities Lending Cash Central Fund 2.34%
25,359
108,535
124,807
78
-
-
9,087
0.0%
Total
27,901
297,004
286,343
322
-
-
38,562
 
 
 
 
 
 
 
 
 
 
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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