Quarterly Holdings Report
for
Fidelity Advisor® Small Cap Fund
August 31, 2026
ASCF-NPRT3-1026
1.805747.122
Common Stocks - 98.4%
 
  
Shares
Value ($)
 
CANADA - 4.5%
 
  
  
Energy - 1.4%
  
  
  
Energy Equipment & Services - 1.4%
  
  
  
CES Energy Solutions Corp
 
2,439,000
32,679,556
Financials - 0.7%
  
  
  
Capital Markets - 0.7%
  
  
  
TMX Group Ltd
 
406,200
15,835,337
Health Care - 0.3%
  
  
  
Biotechnology - 0.3%
  
  
  
Xenon Pharmaceuticals Inc (b)
  
132,200
7,961,084
Industrials - 0.2%
  
  
  
Electrical Equipment - 0.2%
  
  
  
Electrovaya Inc (United States) (a)(b)
  
782,428
5,203,146
Information Technology - 0.2%
  
  
  
Electronic Equipment, Instruments & Components - 0.2%
  
  
  
Kraken Robotics Inc (b)
  
1,344,200
5,023,958
Materials - 0.7%
  
  
  
Metals & Mining - 0.7%
  
  
  
Almonty Industries Inc (b)
  
734,100
13,066,980
Major Drilling Group International Inc (b)
  
314,600
3,852,060
TOTAL MATERIALS
  
  
16,919,040
Real Estate - 0.3%
  
  
  
Real Estate Management & Development - 0.3%
  
  
  
Colliers International Group Inc Subordinate Voting Shares
 
61,500
6,179,065
Utilities - 0.7%
  
  
  
Gas Utilities - 0.7%
  
  
  
Brookfield Infrastructure Corp (United States) (a)
  
420,367
16,066,427
TOTAL CANADA
  
  
105,867,613
GERMANY - 0.2%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Leisure Products - 0.2%
  
  
  
Tonies SE Class A (b)
  
350,300
4,833,865
GRAND CAYMAN (UK OVERSEAS TER) - 0.7%
 
  
  
Financials - 0.7%
  
  
  
Insurance - 0.7%
  
  
  
Accelerant Holdings Class A (b)
  
797,571
15,736,076
ISRAEL - 0.5%
 
  
  
Information Technology - 0.5%
  
  
  
Software - 0.5%
  
  
  
Cellebrite DI Ltd (a)(b)
  
995,800
11,949,600
NETHERLANDS - 0.1%
 
  
  
Health Care - 0.1%
  
  
  
Biotechnology - 0.1%
  
  
  
Newamsterdam Pharma Co NV (b)
  
119,300
3,023,062
SWITZERLAND - 0.9%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Automobile Components - 0.9%
  
  
  
Garrett Motion Inc
 
758,600
20,444,270
TAIWAN - 1.0%
 
  
  
Information Technology - 1.0%
  
  
  
Semiconductors & Semiconductor Equipment - 1.0%
  
  
  
Silicon Motion Technology Corp ADR
 
99,800
24,634,632
THAILAND - 0.7%
 
  
  
Information Technology - 0.7%
  
  
  
Electronic Equipment, Instruments & Components - 0.7%
  
  
  
Fabrinet (b)
  
41,800
17,260,474
UNITED KINGDOM - 1.3%
 
  
  
Communication Services - 0.5%
  
  
  
Media - 0.5%
  
  
  
4imprint Group PLC
 
208,000
12,626,432
Energy - 0.8%
  
  
  
Energy Equipment & Services - 0.8%
  
  
  
TechnipFMC PLC
 
230,900
18,044,835
TOTAL UNITED KINGDOM
  
  
30,671,267
UNITED STATES - 88.5%
 
  
  
Consumer Discretionary - 11.5%
  
  
  
Automobile Components - 2.3%
  
  
  
Dorman Products Inc (a)(b)
  
171,317
22,074,196
Patrick Industries Inc (a)
  
243,596
19,906,665
Phinia Inc
 
180,400
12,346,576
 
  
  
54,327,437
Diversified Consumer Services - 0.8%
  
  
  
Laureate Education Inc (b)
  
482,586
18,111,452
Hotels, Restaurants & Leisure - 1.7%
  
  
  
Brinker International Inc (b)
  
82,400
18,828,400
Lindblad Expeditions Holdings Inc (b)
  
286,900
7,620,064
Pursuit Attractions and Hospitality Inc (a)(b)
  
292,400
14,035,200
 
  
  
40,483,664
Household Durables - 2.7%
  
  
  
Green Brick Partners Inc (b)
  
196,000
14,155,120
Installed Building Products Inc (a)
  
102,400
24,865,792
Lovesac Co/The (a)(b)
  
307,490
4,795,307
SharkNinja Inc (b)
  
108,966
20,974,865
 
  
  
64,791,084
Specialty Retail - 2.5%
  
  
  
Academy Sports & Outdoors Inc
 
277,805
11,934,503
Boot Barn Holdings Inc (b)
  
142,700
21,494,901
Group 1 Automotive Inc
 
53,300
14,366,482
Murphy USA Inc
 
22,100
11,390,119
 
  
  
59,186,005
Textiles, Apparel & Luxury Goods - 1.5%
  
  
  
Crocs Inc (b)
  
99,500
11,977,810
Kontoor Brands Inc
 
303,600
22,894,476
 
  
  
34,872,286
TOTAL CONSUMER DISCRETIONARY
  
  
271,771,928
Consumer Staples - 1.6%
  
  
  
Beverages - 0.4%
  
  
  
Vita Coco Co Inc/The (b)
  
172,196
10,110,488
Consumer Staples Distribution & Retail - 1.2%
  
  
  
Performance Food Group Co (b)
  
155,700
15,440,769
Sprouts Farmers Market Inc (b)
  
157,600
12,929,504
 
  
  
28,370,273
TOTAL CONSUMER STAPLES
  
  
38,480,761
Energy - 3.5%
  
  
  
Energy Equipment & Services - 3.0%
  
  
  
National Energy Services Reunited Corp (b)
  
804,000
28,228,440
Select Water Solutions Inc Class A
 
1,239,100
24,162,450
Weatherford International PLC
 
184,200
18,009,234
 
  
  
70,400,124
Oil, Gas & Consumable Fuels - 0.5%
  
  
  
Chord Energy Corp
 
80,900
11,901,199
TOTAL ENERGY
  
  
82,301,323
Financials - 16.3%
  
  
  
Banks - 8.6%
  
  
  
Central BanCo Inc
 
234,200
7,518,991
Columbia Financial Inc
 
1,084,100
12,597,242
Community Financial System Inc
 
265,600
16,666,400
Connectone Bancorp  Inc
 
619,455
19,475,665
CVB Financial Corp
 
884,800
19,616,016
First Bancorp/Southern Pines NC
 
239,900
15,216,857
First Hawaiian Inc
 
890,800
22,813,388
NBT Bancorp Inc
 
349,000
17,945,580
Pathward Financial Inc
 
148,700
12,113,102
Pinnacle Financial Partners Inc
 
177,300
17,724,681
SOUTHSTATE BANK CORP
 
256,100
26,862,330
TriCo Bancshares
 
276,200
14,743,556
 
  
  
203,293,808
Capital Markets - 2.8%
  
  
  
Lazard Inc
 
166,600
7,202,118
PJT Partners Inc Class A (a)
  
144,200
26,012,238
Stifel Financial Corp
 
215,500
17,408,090
WisdomTree Inc (a)
  
692,500
16,661,550
 
  
  
67,283,996
Consumer Finance - 1.5%
  
  
  
FirstCash Holdings Inc
 
140,600
30,154,482
SLM Corp
 
200,922
5,217,944
 
  
  
35,372,426
Financial Services - 1.5%
  
  
  
Essent Group Ltd
 
380,423
25,701,378
PennyMac Financial Services Inc (a)
  
136,514
9,980,538
 
  
  
35,681,916
Insurance - 1.9%
  
  
  
Primerica Inc
 
97,700
28,103,405
Selective Insurance Group Inc
 
176,900
16,149,201
 
  
  
44,252,606
TOTAL FINANCIALS
  
  
385,884,752
Health Care - 16.3%
  
  
  
Biotechnology - 4.6%
  
  
  
Arcus Biosciences Inc (b)
  
247,900
7,258,512
Caris Life Sciences Inc (b)
  
39,217
999,641
CG oncology Inc (b)
  
104,100
7,824,156
Cogent Biosciences Inc (b)
  
417,472
14,611,520
Disc Medicine Inc (b)
  
77,000
6,056,050
Gilead Sciences Inc rights (b)(c)
  
72,100
1
Kymera Therapeutics Inc (b)
  
75,900
9,017,679
Legend Biotech Corp ADR (b)
  
98,600
2,048,908
Olema Pharmaceuticals Inc (b)
  
245,600
2,561,608
Oruka Therapeutics Inc (b)
  
117,100
10,845,802
Praxis Precision Medicines Inc (b)
  
28,100
9,843,430
Relay Therapeutics Inc (b)
  
457,600
8,410,688
Travere Therapeutics Inc (b)
  
113,000
7,489,640
Vaxcyte Inc (b)
  
149,700
9,092,778
Viking Therapeutics Inc (a)(b)
  
162,000
5,310,360
Viridian Therapeutics Inc (b)
  
231,800
5,368,488
 
  
  
106,739,261
Health Care Equipment & Supplies - 2.5%
  
  
  
Artivion Inc (b)
  
249,700
6,739,403
iRadimed Corp
 
65,270
5,638,023
iRhythm Technologies Inc (b)
  
88,600
10,538,084
Lantheus Holdings Inc (b)
  
112,000
11,307,520
Merit Medical Systems Inc (b)
  
206,200
18,694,092
TransMedics Group Inc (b)
  
81,200
6,891,444
 
  
  
59,808,566
Health Care Providers & Services - 3.7%
  
  
  
Chemed Corp
 
26,700
13,849,557
Ensign Group Inc/The
 
157,900
27,199,854
Guardian Pharmacy Services Inc Class A (b)
  
179,300
6,650,237
LifeStance Health Group Inc (b)
  
1,299,900
16,066,764
Privia Health Group Inc (b)
  
583,900
11,964,111
Progyny Inc (b)
  
498,700
12,761,733
 
  
  
88,492,256
Life Sciences Tools & Services - 2.3%
  
  
  
Charles River Laboratories International Inc (b)
  
136,000
39,200,640
Repligen Corp (b)
  
86,300
15,618,574
 
  
  
54,819,214
Pharmaceuticals - 3.2%
  
  
  
Alumis Inc (b)
  
269,200
5,871,252
Crinetics Pharmaceuticals Inc (b)
  
201,000
17,074,950
Enliven Therapeutics Inc (b)
  
135,700
7,855,673
Indivior Pharmaceuticals Inc
 
382,100
13,346,753
Ligand Pharmaceuticals Inc (b)
  
57,000
16,193,700
MBX Biosciences Inc (b)
  
108,600
6,689,760
Structure Therapeutics Inc ADR (b)
  
96,300
4,421,133
Trevi Therapeutics Inc (b)
  
279,500
4,639,700
 
  
  
76,092,921
TOTAL HEALTH CARE
  
  
385,952,218
Industrials - 18.6%
  
  
  
Aerospace & Defense - 1.0%
  
  
  
Ducommun Inc (b)
  
85,200
14,604,984
Hawkeye 360 Inc (a)
  
517,900
9,819,384
 
  
  
24,424,368
Air Freight & Logistics - 0.6%
  
  
  
GXO Logistics Inc (b)
  
311,900
14,886,987
Building Products - 3.2%
  
  
  
AZZ Inc
 
172,000
23,591,520
Louisiana-Pacific Corp
 
321,100
22,640,761
Simpson Manufacturing Co Inc
 
162,400
29,655,864
 
  
  
75,888,145
Commercial Services & Supplies - 0.9%
  
  
  
Brink's Co/The
 
196,860
21,443,960
Construction & Engineering - 2.8%
  
  
  
Cardinal Infrastructure Group Inc Class A
 
116,100
4,293,378
Construction Partners Inc Class A (b)
  
174,000
18,478,800
IES Holdings Inc (b)
  
114,200
34,602,600
Sterling Infrastructure Inc (b)
  
18,700
8,790,309
 
  
  
66,165,087
Electrical Equipment - 0.4%
  
  
  
Nextpower Inc (b)
  
116,800
9,581,103
Machinery - 4.4%
  
  
  
Blue Bird Corp (a)(b)
  
271,700
15,799,355
CECO Environmental Corp (b)
  
170,790
12,160,248
Federal Signal Corp
 
166,700
19,503,900
SPX Technologies Inc (b)
  
121,400
23,885,450
Terex Corp
 
493,560
31,345,996
 
  
  
102,694,949
Passenger Airlines - 1.1%
  
  
  
SkyWest Inc (b)
  
277,000
26,220,820
Professional Services - 1.4%
  
  
  
ExlService Holdings Inc (b)
  
433,100
16,492,448
KBR Inc
 
443,200
16,620,000
 
  
  
33,112,448
Trading Companies & Distributors - 2.8%
  
  
  
Applied Industrial Technologies Inc
 
42,900
13,898,742
Herc Holdings Inc
 
105,000
15,995,700
Rush Enterprises Inc Class A
 
223,691
17,186,180
Xometry Inc Class A (b)
  
214,500
19,882,005
 
  
  
66,962,627
TOTAL INDUSTRIALS
  
  
441,380,494
Information Technology - 11.1%
  
  
  
Electronic Equipment, Instruments & Components - 5.2%
  
  
  
Advanced Energy Industries Inc
 
21,900
6,063,234
Bel Fuse Inc Class B (a)
  
66,700
16,626,643
Belden Inc
 
200,200
22,914,892
OSI Systems Inc (b)
  
66,400
13,805,224
Sanmina Corp (b)
  
176,000
34,622,720
TD SYNNEX Corp
 
86,641
21,907,177
TTM Technologies Inc (b)
  
58,000
6,897,360
 
  
  
122,837,250
IT Services - 0.2%
  
  
  
Boost Run Inc Class A
 
303,459
5,289,290
Semiconductors & Semiconductor Equipment - 2.1%
  
  
  
Axcelis Technologies Inc (b)
  
77,300
8,915,009
Diodes Inc (b)
  
28,300
2,569,640
MACOM Technology Solutions Holdings Inc (b)
  
31,400
8,284,262
Veeco Instruments Inc (b)
  
696,860
30,870,898
 
  
  
50,639,809
Software - 3.6%
  
  
  
Agilysys Inc (a)(b)
  
141,900
16,518,579
Intapp Inc (b)
  
435,800
18,900,646
InterDigital Inc (a)
  
104,200
34,910,126
Manhattan Associates Inc (b)
  
65,300
14,574,307
 
  
  
84,903,658
TOTAL INFORMATION TECHNOLOGY
  
  
263,670,007
Materials - 5.1%
  
  
  
Chemicals - 2.7%
  
  
  
Ecovyst Inc (b)
  
1,331,100
13,537,287
Element Solutions Inc
 
687,500
24,433,750
Minerals Technologies Inc
 
176,000
12,481,920
Perimeter Solutions Inc (b)
  
458,600
13,987,300
 
  
  
64,440,257
Construction Materials - 1.2%
  
  
  
Eagle Materials Inc
 
146,300
28,420,238
Metals & Mining - 1.2%
  
  
  
Commercial Metals Co
 
275,600
18,594,732
Constellium SE (b)
  
401,400
10,609,002
 
  
  
29,203,734
TOTAL MATERIALS
  
  
122,064,229
Real Estate - 3.4%
  
  
  
Diversified REITs - 0.9%
  
  
  
Essential Properties Realty Trust Inc
 
692,101
20,763,030
Health Care REITs - 1.9%
  
  
  
American Healthcare REIT Inc (a)
  
429,700
23,723,737
CareTrust REIT Inc
 
520,900
20,289,055
 
  
  
44,012,792
Retail REITs - 0.6%
  
  
  
Acadia Realty Trust
 
742,800
15,205,116
TOTAL REAL ESTATE
  
  
79,980,938
Utilities - 1.1%
  
  
  
Gas Utilities - 1.1%
  
  
  
Southwest Gas Holdings Inc
 
307,300
27,143,808
TOTAL UNITED STATES
  
  
2,098,630,458
 
TOTAL COMMON STOCKS
 (Cost $1,780,640,085)
  
  
  
2,333,051,317
 
  
  
  
Domestic Equity Funds - 1.0%
 
  
Shares
Value ($)
 
iShares Russell 2000 ETF (a)
 (Cost $19,328,149)
  
84,800
24,925,264
 
  
  
  
Money Market Funds - 5.9%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (d)
  
3.69
13,422,593
13,425,278
Fidelity Securities Lending Cash Central Fund (d)(e)
  
3.72
126,024,877
126,037,480
 
TOTAL MONEY MARKET FUNDS
 (Cost $139,461,972)
  
  
  
139,462,758
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 105.3%
 (Cost $1,939,430,206)
 
  
 
2,497,439,339
NET OTHER ASSETS (LIABILITIES) - (5.3)%  
(125,560,415)
NET ASSETS - 100.0%
2,371,878,924
 
  
 
Security Type Abbreviations
ETF
-
EXCHANGE-TRADED FUND
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(b)
Non-income producing.
 
(c)
Level 3 security.
 
(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.
 
At period end, the value of non-cash collateral for securities on loan amounted to $56,707,433.
 
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
Fidelity Cash Central Fund
3,327,700
595,522,803
585,422,585
865,534
(3,426)
786
13,425,278
13,422,593
Fidelity Securities Lending Cash Central Fund
75,484,632
836,457,702
785,904,762
196,663
(92)
-
126,037,480
126,024,877
 
78,812,332
1,431,980,505
1,371,327,347
1,062,197
(3,518)
786
139,462,758
  
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column 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 income 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 designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
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 service 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.
 
Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs) are valued at their last sale price or official closing price as reported by a third party pricing service 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 but the exchange reports a closing bid level, ETFs and ETNs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs and ETNs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 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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