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Fidelity Advisor Series I
2026-06-30
Fidelity Advisor® Mid Cap II Fund
Fidelity Advisor® Mid Cap II Fund Class Z
FZAMX
This semi-annual shareholder report contains information about Fidelity Advisor® Mid Cap II Fund for the period January 1, 2026 to June 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-877-208-0098
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span>32<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
32
0.0057
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of June 30, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,363,373,359</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2363373359
183
0.78
MARKET SECTORS
(% of Fund's net assets)
Industrials
21.8
Information Technology
19.6
Financials
14.3
Health Care
9.6
Consumer Discretionary
9.2
Real Estate
5.3
Energy
4.6
Consumer Staples
4.4
Materials
3.4
Utilities
3.4
Communication Services
1.2
Common Stocks
96.7
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
3.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 96.7
Preferred Stocks - 0.1
Short-Term Investments and Net Other Assets (Liabilities) - 3.2
United States
93.8
Canada
2.0
Taiwan
1.4
Belgium
0.6
Japan
0.6
Brazil
0.6
United Kingdom
0.4
France
0.3
Netherlands
0.2
Others
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Canada - 2.0
Taiwan - 1.4
Belgium - 0.6
Japan - 0.6
Brazil - 0.6
United Kingdom - 0.4
France - 0.3
Netherlands - 0.2
Others - 0.1
0.218
0.196
0.143
0.096
0.092
0.053
0.046
0.044
0.034
0.034
0.012
0.967
0.001
0.032
0.938
0.020
0.014
0.006
0.006
0.006
0.004
0.003
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
MKS Inc
1.8
Twilio Inc Class A
1.6
East West Bancorp Inc
1.5
Silicon Motion Technology Corp ADR
1.4
US Foods Holding Corp
1.4
ITT Inc
1.4
Comfort Systems USA Inc
1.3
ATI Inc
1.3
Performance Food Group Co
1.2
RB Global Inc (United States)
1.2
14.1
0.018
0.016
0.015
0.014
0.014
0.014
0.013
0.013
0.012
0.012
2026-06-30
Fidelity Advisor® Mid Cap II Fund
Fidelity Advisor® Mid Cap II Fund Class M
FITIX
This semi-annual shareholder report contains information about Fidelity Advisor® Mid Cap II Fund for the period January 1, 2026 to June 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-877-208-0098
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span>67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.19<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
67
0.0119
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of June 30, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,363,373,359</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2363373359
183
0.78
MARKET SECTORS
(% of Fund's net assets)
Industrials
21.8
Information Technology
19.6
Financials
14.3
Health Care
9.6
Consumer Discretionary
9.2
Real Estate
5.3
Energy
4.6
Consumer Staples
4.4
Materials
3.4
Utilities
3.4
Communication Services
1.2
Common Stocks
96.7
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
3.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 96.7
Preferred Stocks - 0.1
Short-Term Investments and Net Other Assets (Liabilities) - 3.2
United States
93.8
Canada
2.0
Taiwan
1.4
Belgium
0.6
Japan
0.6
Brazil
0.6
United Kingdom
0.4
France
0.3
Netherlands
0.2
Others
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Canada - 2.0
Taiwan - 1.4
Belgium - 0.6
Japan - 0.6
Brazil - 0.6
United Kingdom - 0.4
France - 0.3
Netherlands - 0.2
Others - 0.1
0.218
0.196
0.143
0.096
0.092
0.053
0.046
0.044
0.034
0.034
0.012
0.967
0.001
0.032
0.938
0.020
0.014
0.006
0.006
0.006
0.004
0.003
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
MKS Inc
1.8
Twilio Inc Class A
1.6
East West Bancorp Inc
1.5
Silicon Motion Technology Corp ADR
1.4
US Foods Holding Corp
1.4
ITT Inc
1.4
Comfort Systems USA Inc
1.3
ATI Inc
1.3
Performance Food Group Co
1.2
RB Global Inc (United States)
1.2
14.1
0.018
0.016
0.015
0.014
0.014
0.014
0.013
0.013
0.012
0.012
2026-06-30
Fidelity Advisor® Mid Cap II Fund
Fidelity Advisor® Mid Cap II Fund Class I
FIIMX
This semi-annual shareholder report contains information about Fidelity Advisor® Mid Cap II Fund for the period January 1, 2026 to June 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-877-208-0098
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span>39<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
39
0.0069
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of June 30, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,363,373,359</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2363373359
183
0.78
MARKET SECTORS
(% of Fund's net assets)
Industrials
21.8
Information Technology
19.6
Financials
14.3
Health Care
9.6
Consumer Discretionary
9.2
Real Estate
5.3
Energy
4.6
Consumer Staples
4.4
Materials
3.4
Utilities
3.4
Communication Services
1.2
Common Stocks
96.7
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
3.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 96.7
Preferred Stocks - 0.1
Short-Term Investments and Net Other Assets (Liabilities) - 3.2
United States
93.8
Canada
2.0
Taiwan
1.4
Belgium
0.6
Japan
0.6
Brazil
0.6
United Kingdom
0.4
France
0.3
Netherlands
0.2
Others
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Canada - 2.0
Taiwan - 1.4
Belgium - 0.6
Japan - 0.6
Brazil - 0.6
United Kingdom - 0.4
France - 0.3
Netherlands - 0.2
Others - 0.1
0.218
0.196
0.143
0.096
0.092
0.053
0.046
0.044
0.034
0.034
0.012
0.967
0.001
0.032
0.938
0.020
0.014
0.006
0.006
0.006
0.004
0.003
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
MKS Inc
1.8
Twilio Inc Class A
1.6
East West Bancorp Inc
1.5
Silicon Motion Technology Corp ADR
1.4
US Foods Holding Corp
1.4
ITT Inc
1.4
Comfort Systems USA Inc
1.3
ATI Inc
1.3
Performance Food Group Co
1.2
RB Global Inc (United States)
1.2
14.1
0.018
0.016
0.015
0.014
0.014
0.014
0.013
0.013
0.012
0.012
2026-06-30
Fidelity Advisor® Mid Cap II Fund
Fidelity Advisor® Mid Cap II Fund Class C
FIICX
This semi-annual shareholder report contains information about Fidelity Advisor® Mid Cap II Fund for the period January 1, 2026 to June 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-877-208-0098
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span>96<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
96
0.0169
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of June 30, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,363,373,359</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2363373359
183
0.78
MARKET SECTORS
(% of Fund's net assets)
Industrials
21.8
Information Technology
19.6
Financials
14.3
Health Care
9.6
Consumer Discretionary
9.2
Real Estate
5.3
Energy
4.6
Consumer Staples
4.4
Materials
3.4
Utilities
3.4
Communication Services
1.2
Common Stocks
96.7
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
3.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 96.7
Preferred Stocks - 0.1
Short-Term Investments and Net Other Assets (Liabilities) - 3.2
United States
93.8
Canada
2.0
Taiwan
1.4
Belgium
0.6
Japan
0.6
Brazil
0.6
United Kingdom
0.4
France
0.3
Netherlands
0.2
Others
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Canada - 2.0
Taiwan - 1.4
Belgium - 0.6
Japan - 0.6
Brazil - 0.6
United Kingdom - 0.4
France - 0.3
Netherlands - 0.2
Others - 0.1
0.218
0.196
0.143
0.096
0.092
0.053
0.046
0.044
0.034
0.034
0.012
0.967
0.001
0.032
0.938
0.020
0.014
0.006
0.006
0.006
0.004
0.003
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
MKS Inc
1.8
Twilio Inc Class A
1.6
East West Bancorp Inc
1.5
Silicon Motion Technology Corp ADR
1.4
US Foods Holding Corp
1.4
ITT Inc
1.4
Comfort Systems USA Inc
1.3
ATI Inc
1.3
Performance Food Group Co
1.2
RB Global Inc (United States)
1.2
14.1
0.018
0.016
0.015
0.014
0.014
0.014
0.013
0.013
0.012
0.012
2026-06-30
Fidelity Advisor® Mid Cap II Fund
Fidelity Advisor® Mid Cap II Fund Class A
FIIAX
This semi-annual shareholder report contains information about Fidelity Advisor® Mid Cap II Fund for the period January 1, 2026 to June 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
fundresearch.fidelity.com/prospectus/sec
1-877-208-0098
fidfunddocuments@fidelity.com
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last six months?</span>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
<span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:51%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:21%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div>
</td>
<td style="width:27%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span>53<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div>
</td>
<td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.94<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
</td>
<td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
53
0.0094
<span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span>
<div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of June 30, 2026)</span></div>
<div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div>
<div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div>
</td>
<td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,363,373,359</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
<tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div>
</td>
<td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div>
<div style="text-align:right;text-align-last:auto;"></div>
</td>
<td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div>
</td>
</tr>
</table>
</div>
<div style="text-align:left;text-align-last:auto;"></div>
2363373359
183
0.78
MARKET SECTORS
(% of Fund's net assets)
Industrials
21.8
Information Technology
19.6
Financials
14.3
Health Care
9.6
Consumer Discretionary
9.2
Real Estate
5.3
Energy
4.6
Consumer Staples
4.4
Materials
3.4
Utilities
3.4
Communication Services
1.2
Common Stocks
96.7
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
3.2
ASSET ALLOCATION (% of Fund's net assets)
Common Stocks - 96.7
Preferred Stocks - 0.1
Short-Term Investments and Net Other Assets (Liabilities) - 3.2
United States
93.8
Canada
2.0
Taiwan
1.4
Belgium
0.6
Japan
0.6
Brazil
0.6
United Kingdom
0.4
France
0.3
Netherlands
0.2
Others
0.1
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
United States - 93.8
Canada - 2.0
Taiwan - 1.4
Belgium - 0.6
Japan - 0.6
Brazil - 0.6
United Kingdom - 0.4
France - 0.3
Netherlands - 0.2
Others - 0.1
0.218
0.196
0.143
0.096
0.092
0.053
0.046
0.044
0.034
0.034
0.012
0.967
0.001
0.032
0.938
0.020
0.014
0.006
0.006
0.006
0.004
0.003
0.002
0.001
TOP HOLDINGS(% of Fund's net assets)
MKS Inc
1.8
Twilio Inc Class A
1.6
East West Bancorp Inc
1.5
Silicon Motion Technology Corp ADR
1.4
US Foods Holding Corp
1.4
ITT Inc
1.4
Comfort Systems USA Inc
1.3
ATI Inc
1.3
Performance Food Group Co
1.2
RB Global Inc (United States)
1.2
14.1
0.018
0.016
0.015
0.014
0.014
0.014
0.013
0.013
0.012
0.012