NPORT-EX 2 QTLY_534_20220831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Large Cap Fund
August 31, 2022
LC-NPRT3-1022
1.805746.118
Common Stocks - 95.5%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 8.0%
 
 
 
Diversified Telecommunication Services - 0.3%
 
 
 
Cellnex Telecom SA (a)
 
25,600
996,934
Verizon Communications, Inc.
 
56,676
2,369,624
 
 
 
3,366,558
Entertainment - 1.5%
 
 
 
Activision Blizzard, Inc.
 
22,811
1,790,435
Nintendo Co. Ltd. ADR
 
33,900
1,732,290
The Walt Disney Co. (b)
 
62,775
7,035,822
Universal Music Group NV
 
214,634
4,262,191
 
 
 
14,820,738
Interactive Media & Services - 3.7%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (b)
 
130,880
14,163,834
 Class C (b)
 
118,660
12,951,739
Match Group, Inc. (b)
 
4,600
260,038
Meta Platforms, Inc. Class A (b)
 
47,400
7,722,882
Snap, Inc. Class A (b)
 
82,100
893,248
 
 
 
35,991,741
Media - 2.5%
 
 
 
Comcast Corp. Class A
 
566,423
20,498,848
Interpublic Group of Companies, Inc.
 
146,420
4,047,049
 
 
 
24,545,897
TOTAL COMMUNICATION SERVICES
 
 
78,724,934
CONSUMER DISCRETIONARY - 3.7%
 
 
 
Auto Components - 0.3%
 
 
 
BorgWarner, Inc.
 
86,116
3,246,573
Automobiles - 0.1%
 
 
 
General Motors Co.
 
22,800
871,188
Hotels, Restaurants & Leisure - 1.4%
 
 
 
Booking Holdings, Inc. (b)
 
4,019
7,538,880
Expedia, Inc. (b)
 
17,900
1,837,435
Marriott International, Inc. Class A
 
19,400
2,982,556
Starbucks Corp.
 
12,700
1,067,689
 
 
 
13,426,560
Household Durables - 0.5%
 
 
 
Mohawk Industries, Inc. (b)
 
23,906
2,638,266
Sony Group Corp. sponsored ADR
 
14,500
1,150,575
Whirlpool Corp. (c)
 
3,534
553,424
 
 
 
4,342,265
Internet & Direct Marketing Retail - 0.2%
 
 
 
Amazon.com, Inc. (b)
 
18,200
2,307,214
Multiline Retail - 0.0%
 
 
 
Target Corp.
 
600
96,204
Specialty Retail - 1.2%
 
 
 
Lowe's Companies, Inc.
 
61,030
11,848,364
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
NIKE, Inc. Class B
 
900
95,805
TOTAL CONSUMER DISCRETIONARY
 
 
36,234,173
CONSUMER STAPLES - 5.3%
 
 
 
Beverages - 1.8%
 
 
 
Diageo PLC sponsored ADR
 
26,000
4,586,140
Keurig Dr. Pepper, Inc.
 
88,700
3,381,244
The Coca-Cola Co.
 
157,281
9,705,811
 
 
 
17,673,195
Food & Staples Retailing - 1.4%
 
 
 
Costco Wholesale Corp.
 
1,300
678,730
Performance Food Group Co. (b)
 
37,100
1,854,258
Sysco Corp.
 
90,900
7,473,798
U.S. Foods Holding Corp. (b)
 
47,800
1,463,636
Walmart, Inc.
 
19,300
2,558,215
 
 
 
14,028,637
Food Products - 0.2%
 
 
 
Lamb Weston Holdings, Inc.
 
18,900
1,503,117
Household Products - 0.2%
 
 
 
Colgate-Palmolive Co.
 
1,000
78,210
Spectrum Brands Holdings, Inc.
 
25,167
1,585,269
 
 
 
1,663,479
Personal Products - 0.2%
 
 
 
Haleon PLC ADR (b)
 
357,938
2,140,469
Tobacco - 1.5%
 
 
 
Altria Group, Inc.
 
273,880
12,357,466
Swedish Match Co. AB
 
285,200
2,863,162
 
 
 
15,220,628
TOTAL CONSUMER STAPLES
 
 
52,229,525
ENERGY - 13.4%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
Baker Hughes Co. Class A
 
7,900
199,554
Oil, Gas & Consumable Fuels - 13.4%
 
 
 
Canadian Natural Resources Ltd.
 
33,100
1,814,596
Cenovus Energy, Inc. (Canada)
 
765,462
14,360,973
EQT Corp.
 
25,500
1,218,900
Exxon Mobil Corp.
 
758,368
72,492,396
Hess Corp.
 
183,535
22,167,357
Imperial Oil Ltd.
 
84,600
4,152,218
Kosmos Energy Ltd. (b)
 
957,395
6,768,783
Phillips 66 Co.
 
22,900
2,048,634
Tourmaline Oil Corp.
 
125,400
7,414,101
 
 
 
132,437,958
TOTAL ENERGY
 
 
132,637,512
FINANCIALS - 16.4%
 
 
 
Banks - 11.9%
 
 
 
Bank of America Corp.
 
830,514
27,913,576
JPMorgan Chase & Co.
 
80,118
9,111,820
M&T Bank Corp.
 
12,828
2,331,874
PNC Financial Services Group, Inc.
 
65,241
10,308,078
Truist Financial Corp.
 
156,127
7,312,989
U.S. Bancorp
 
135,490
6,179,699
Wells Fargo & Co.
 
1,251,003
54,681,341
 
 
 
117,839,377
Capital Markets - 2.9%
 
 
 
KKR & Co. LP
 
100,191
5,065,657
Morgan Stanley
 
64,425
5,490,299
Northern Trust Corp.
 
102,391
9,736,360
Raymond James Financial, Inc.
 
27,793
2,900,755
State Street Corp.
 
83,219
5,688,019
 
 
 
28,881,090
Consumer Finance - 0.3%
 
 
 
Discover Financial Services
 
24,200
2,431,858
Diversified Financial Services - 0.0%
 
 
 
Acacia Research Corp. (b)
 
36,900
165,681
Insurance - 0.2%
 
 
 
Chubb Ltd.
 
11,595
2,192,035
Thrifts & Mortgage Finance - 1.1%
 
 
 
MGIC Investment Corp.
 
152,476
2,178,882
Radian Group, Inc.
 
383,731
8,100,561
 
 
 
10,279,443
TOTAL FINANCIALS
 
 
161,789,484
HEALTH CARE - 13.8%
 
 
 
Biotechnology - 0.7%
 
 
 
ADC Therapeutics SA (b)
 
18,900
128,898
Alnylam Pharmaceuticals, Inc. (b)
 
12,119
2,504,634
Argenx SE ADR (b)
 
1,100
415,657
Crinetics Pharmaceuticals, Inc. (b)
 
28,300
534,304
Insmed, Inc. (b)
 
47,497
1,169,376
Intercept Pharmaceuticals, Inc. (b)(c)
 
51,450
893,687
Vaxcyte, Inc. (b)
 
11,800
308,688
Verve Therapeutics, Inc. (b)
 
14,800
567,728
 
 
 
6,522,972
Health Care Equipment & Supplies - 1.5%
 
 
 
Abbott Laboratories
 
4,000
410,600
Becton, Dickinson & Co.
 
10,797
2,725,379
Boston Scientific Corp. (b)
 
277,826
11,199,166
iRhythm Technologies, Inc. (b)
 
100
14,745
Koninklijke Philips Electronics NV (depositary receipt) (NY Reg.)
 
48,305
800,897
 
 
 
15,150,787
Health Care Providers & Services - 6.6%
 
 
 
Cardinal Health, Inc.
 
92,282
6,526,183
Centene Corp. (b)
 
8,400
753,816
Cigna Corp.
 
50,903
14,428,455
CVS Health Corp.
 
105,768
10,381,129
Guardant Health, Inc. (b)
 
19,600
981,176
Humana, Inc.
 
3,600
1,734,408
McKesson Corp.
 
37,606
13,801,402
Oak Street Health, Inc. (b)
 
14,800
387,760
UnitedHealth Group, Inc.
 
31,999
16,618,041
 
 
 
65,612,370
Life Sciences Tools & Services - 0.2%
 
 
 
Danaher Corp.
 
7,300
1,970,343
Pharmaceuticals - 4.8%
 
 
 
Bayer AG
 
97,356
5,148,964
Bristol-Myers Squibb Co.
 
289,717
19,529,823
Eli Lilly & Co.
 
10,600
3,193,038
GSK PLC sponsored ADR
 
212,030
6,886,734
Johnson & Johnson
 
70,584
11,388,023
Pliant Therapeutics, Inc. (b)
 
16,400
316,192
Sanofi SA sponsored ADR
 
17,700
726,231
Viatris, Inc.
 
11,800
112,690
 
 
 
47,301,695
TOTAL HEALTH CARE
 
 
136,558,167
INDUSTRIALS - 13.5%
 
 
 
Aerospace & Defense - 3.0%
 
 
 
Airbus Group NV
 
48,200
4,723,270
General Dynamics Corp.
 
13,129
3,005,622
Huntington Ingalls Industries, Inc.
 
9,319
2,145,793
MTU Aero Engines AG
 
3,600
636,555
Raytheon Technologies Corp.
 
15,092
1,354,507
Safran SA
 
7,200
734,072
The Boeing Co. (b)
 
103,967
16,660,712
 
 
 
29,260,531
Air Freight & Logistics - 2.1%
 
 
 
FedEx Corp.
 
21,292
4,488,567
United Parcel Service, Inc. Class B
 
85,463
16,623,408
 
 
 
21,111,975
Airlines - 0.1%
 
 
 
Copa Holdings SA Class A (b)
 
3,200
227,840
Ryanair Holdings PLC sponsored ADR (b)
 
9,400
683,474
 
 
 
911,314
Building Products - 0.2%
 
 
 
Johnson Controls International PLC
 
26,000
1,407,640
Commercial Services & Supplies - 0.1%
 
 
 
ACV Auctions, Inc. Class A (b)
 
95,900
816,109
Electrical Equipment - 0.9%
 
 
 
Acuity Brands, Inc.
 
18,956
3,107,457
Hubbell, Inc. Class B
 
11,785
2,431,246
Regal Rexnord Corp.
 
1,400
192,626
Vertiv Holdings Co.
 
303,100
3,494,743
 
 
 
9,226,072
Industrial Conglomerates - 5.6%
 
 
 
3M Co. (c)
 
9,559
1,188,662
General Electric Co.
 
742,213
54,508,123
 
 
 
55,696,785
Machinery - 0.9%
 
 
 
Cummins, Inc.
 
6,000
1,292,220
Epiroc AB (A Shares)
 
4,400
67,324
Flowserve Corp.
 
60,619
1,847,061
Fortive Corp.
 
30,400
1,925,232
Otis Worldwide Corp.
 
19,696
1,422,445
Stanley Black & Decker, Inc.
 
8,500
748,850
Westinghouse Air Brake Tech Co.
 
21,345
1,870,889
 
 
 
9,174,021
Professional Services - 0.1%
 
 
 
Equifax, Inc.
 
3,700
698,375
Road & Rail - 0.5%
 
 
 
Knight-Swift Transportation Holdings, Inc. Class A
 
99,358
5,018,573
Trading Companies & Distributors - 0.0%
 
 
 
Beijer Ref AB (B Shares)
 
15,900
206,432
TOTAL INDUSTRIALS
 
 
133,527,827
INFORMATION TECHNOLOGY - 17.8%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Mirion Technologies, Inc. (b)(d)
 
232,270
1,758,284
IT Services - 3.9%
 
 
 
Amadeus IT Holding SA Class A (b)
 
28,700
1,515,055
Edenred SA
 
68,000
3,450,998
Fidelity National Information Services, Inc.
 
43,100
3,938,047
Genpact Ltd.
 
38,000
1,785,240
Global Payments, Inc.
 
5,500
683,265
IBM Corp.
 
11,500
1,477,175
MasterCard, Inc. Class A
 
8,615
2,794,448
PayPal Holdings, Inc. (b)
 
27,900
2,606,976
Sabre Corp. (b)(c)
 
152,200
1,094,318
Snowflake, Inc. (b)
 
800
144,760
Twilio, Inc. Class A (b)
 
19,900
1,384,642
Unisys Corp. (b)
 
141,362
1,316,080
Visa, Inc. Class A
 
79,827
15,862,423
 
 
 
38,053,427
Semiconductors & Semiconductor Equipment - 2.4%
 
 
 
Analog Devices, Inc.
 
11,118
1,684,711
Applied Materials, Inc.
 
23,416
2,202,743
Intel Corp.
 
91,800
2,930,256
Lam Research Corp.
 
3,900
1,707,849
Marvell Technology, Inc.
 
44,601
2,088,219
NVIDIA Corp.
 
600
90,564
Qualcomm, Inc.
 
97,101
12,843,549
 
 
 
23,547,891
Software - 7.8%
 
 
 
Adobe, Inc. (b)
 
4,200
1,568,448
Autodesk, Inc. (b)
 
9,541
1,924,801
Coupa Software, Inc. (b)
 
1,100
64,240
DoubleVerify Holdings, Inc. (b)
 
16,500
426,525
Dynatrace, Inc. (b)
 
33,365
1,273,876
Elastic NV (b)
 
29,600
2,483,736
Microsoft Corp.
 
235,053
61,459,308
PTC, Inc. (b)
 
9,300
1,068,477
Salesforce.com, Inc. (b)
 
3,600
562,032
SAP SE sponsored ADR
 
70,817
6,035,025
Workday, Inc. Class A (b)
 
3,300
543,048
 
 
 
77,409,516
Technology Hardware, Storage & Peripherals - 3.5%
 
 
 
Apple, Inc.
 
216,368
34,017,377
Samsung Electronics Co. Ltd.
 
22,520
993,712
 
 
 
35,011,089
TOTAL INFORMATION TECHNOLOGY
 
 
175,780,207
MATERIALS - 2.4%
 
 
 
Chemicals - 0.6%
 
 
 
Axalta Coating Systems Ltd. (b)
 
16,800
432,600
DuPont de Nemours, Inc.
 
94,800
5,274,672
 
 
 
5,707,272
Metals & Mining - 1.8%
 
 
 
First Quantum Minerals Ltd.
 
219,000
3,875,250
Freeport-McMoRan, Inc.
 
342,004
10,123,318
Glencore Xstrata PLC
 
690,200
3,773,709
 
 
 
17,772,277
TOTAL MATERIALS
 
 
23,479,549
REAL ESTATE - 0.7%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.7%
 
 
 
American Tower Corp.
 
10,709
2,720,621
Equinix, Inc.
 
442
290,558
Simon Property Group, Inc.
 
44,000
4,487,120
 
 
 
7,498,299
UTILITIES - 0.5%
 
 
 
Electric Utilities - 0.5%
 
 
 
Entergy Corp.
 
8,900
1,026,170
PG&E Corp. (b)
 
75,500
930,915
Southern Co.
 
35,000
2,697,450
 
 
 
4,654,535
Multi-Utilities - 0.0%
 
 
 
Sempra Energy
 
2,034
335,549
TOTAL UTILITIES
 
 
4,990,084
 
TOTAL COMMON STOCKS
 (Cost $669,352,552)
 
 
 
943,449,761
 
 
 
 
Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.0%
 
 
 
COMMUNICATION SERVICES - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Reddit, Inc. Series E (b)(d)(e)
 
1,200
47,208
 
 
 
 
Nonconvertible Preferred Stocks - 0.1%
 
 
 
INDUSTRIALS - 0.1%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Embraer SA sponsored ADR (b)
 
119,400
1,272,804
 
 
 
 
 
TOTAL PREFERRED STOCKS
 (Cost $1,471,102)
 
 
 
1,320,012
 
 
 
 
Other - 0.1%
 
 
Shares
Value ($)
 
Other - 0.1%
 
 
 
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f)
  (Cost $3,176,555)
 
2,548,426
1,183,718
 
 
 
 
Money Market Funds - 4.4%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 2.33% (g)
 
41,545,209
41,553,518
Fidelity Securities Lending Cash Central Fund 2.34% (g)(h)
 
2,292,951
2,293,181
 
TOTAL MONEY MARKET FUNDS
 (Cost $43,846,699)
 
 
43,846,699
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.1%
 (Cost $717,846,908)
 
 
 
989,800,190
NET OTHER ASSETS (LIABILITIES) - (0.1)%  
(1,231,998)
NET ASSETS - 100.0%
988,568,192
 
 
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 $996,934 or 0.1% of net assets.
 
(b)
Non-income producing
 
(c)
Security or a portion of the security is on loan at period end.
 
(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 $2,989,210 or 0.3% of net assets.
 
(e)
Level 3 security
 
(f)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(g)
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.
 
(h)
Investment made with cash collateral received from securities on loan.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Mirion Technologies, Inc.
6/16/21
2,322,700
Reddit, Inc. Series E
5/18/21
50,969
Utica Shale Drilling Program (non-operating revenue interest)
10/05/16 - 12/16/20
3,176,555
 
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 2.33%
1,030,319
112,246,216
71,723,017
176,026
-
-
41,553,518
0.1%
Fidelity Securities Lending Cash Central Fund 2.34%
3,967,656
18,389,858
20,064,333
4,690
-
-
2,293,181
0.0%
Total
4,997,975
130,636,074
91,787,350
180,716
-
-
43,846,699
 
 
 
 
 
 
 
 
 
 
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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