N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3737

Fidelity Advisor Series IV
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

November 30

 

 

Date of reporting period:

August 31, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Institutional
Short-Intermediate Government Fund

August 31, 2010 

1.805749.106

ISIG-QTLY-1010

Investments August 31, 2010 (Unaudited)

Showing Percentage of Net Assets

U.S. Government and Government Agency Obligations - 88.5%

 

Principal Amount

Value

U.S. Government Agency Obligations - 12.8%

Fannie Mae:

0.625% 9/24/12

$ 8,010,000

$ 7,999,555

1% 9/23/13

2,440,000

2,443,553

1.125% 7/30/12

8,460,000

8,537,527

1.25% 6/22/12

7,510,000

7,596,410

1.25% 8/20/13

5,180,000

5,229,510

Federal Home Loan Bank:

0.875% 8/22/12

2,390,000

2,399,945

1.5% 1/16/13

4,470,000

4,546,786

1.875% 6/21/13

10,650,000

10,949,744

3.625% 10/18/13

3,160,000

3,424,426

Freddie Mac:

0.875% 10/28/13

1,344,000

1,339,437

1.75% 6/15/12

11,728,000

11,966,958

Israeli State (guaranteed by U.S. Government through Agency for International Development) 6.8% 2/15/12

1,016,623

1,044,412

Overseas Private Investment Corp. U.S. Government guaranteed participation certificates 6.77% 11/15/13

425,000

455,812

TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS

67,934,075

U.S. Treasury Inflation Protected Obligations - 2.4%

U.S. Treasury Inflation-Indexed Notes 3% 7/15/12

12,244,230

12,982,251

U.S. Treasury Obligations - 60.1%

U.S. Treasury Notes:

0.625% 6/30/12

3,339,000

3,349,050

0.625% 7/31/12

23,645,000

23,717,117

0.75% 8/15/13

8,041,000

8,051,051

0.875% 1/31/12

15,507,000

15,614,215

1% 12/31/11

3,781,000

3,812,163

1% 4/30/12

8,848,000

8,929,579

1.25% 8/31/15

12,000,000

11,950,308

1.375% 2/15/12

7,286,000

7,389,600

1.375% 4/15/12

5,350,000

5,434,011

1.375% 2/15/13

19,439,000

19,804,997

1.5% 12/31/13

1,403,000

1,435,335

1.75% 4/15/13

14,416,000

14,834,929

1.75% 7/31/15

3,500,000

3,573,570

1.875% 4/30/14

17,268,000

17,860,241

1.875% 6/30/15

19,500,000

20,036,250

2.375% 8/31/14

11,687,000

12,295,998

U.S. Government and Government Agency Obligations - continued

 

Principal Amount

Value

U.S. Treasury Obligations - continued

U.S. Treasury Notes: - continued

2.375% 9/30/14

$ 33,485,000

$ 35,232,516

2.375% 10/31/14

7,948,000

8,360,303

2.5% 3/31/15

18,340,000

19,396,017

2.625% 7/31/14

7,703,000

8,182,635

2.625% 4/30/16

2,073,000

2,191,387

2.75% 10/31/13

23,725,000

25,204,111

3.125% 8/31/13

20,667,000

22,163,745

3.125% 9/30/13

3,970,000

4,260,616

3.375% 6/30/13

10,561,000

11,372,877

4.75% 5/31/12 (b)

4,500,000

4,838,904

TOTAL U.S. TREASURY OBLIGATIONS

319,291,525

Other Government Related - 13.2%

Bank of America Corp.:

2.1% 4/30/12 (FDIC Guaranteed) (a)

577,000

591,423

3.125% 6/15/12 (FDIC Guaranteed) (a)

161,000

168,205

Citibank NA:

1.75% 12/28/12 (FDIC Guaranteed) (a)

2,000,000

2,047,310

1.875% 5/7/12 (FDIC Guaranteed) (a)

12,500,000

12,762,075

Citigroup Funding, Inc.:

1.875% 11/15/12 (FDIC Guaranteed) (a)

1,600,000

1,639,459

2% 3/30/12 (FDIC Guaranteed) (a)

5,000,000

5,106,705

2.125% 7/12/12 (FDIC Guaranteed) (a)

934,000

960,054

General Electric Capital Corp.:

1.8% 3/11/11 (FDIC Guaranteed) (a)

12,000,000

12,101,712

2% 9/28/12 (FDIC Guaranteed) (a)

4,000,000

4,108,756

2.625% 12/28/12 (FDIC Guaranteed) (a)

1,702,000

1,772,844

3% 12/9/11 (FDIC Guaranteed) (a)

420,000

432,759

GMAC, Inc. 1.75% 10/30/12 (FDIC Guaranteed) (a)

6,000,000

6,130,806

Goldman Sachs Group, Inc. 3.25% 6/15/12 (FDIC Guaranteed) (a)

162,000

169,401

JPMorgan Chase & Co.:

2.125% 12/26/12 (FDIC Guaranteed) (a)

7,000,000

7,228,641

2.2% 6/15/12 (FDIC Guaranteed) (a)

2,570,000

2,645,229

U.S. Government and Government Agency Obligations - continued

 

Principal Amount

Value

Other Government Related - continued

JPMorgan Chase & Co.: - continued

3.125% 12/1/11 (FDIC Guaranteed) (a)

$ 70,000

$ 72,348

Morgan Stanley 3.25% 12/1/11 (FDIC Guaranteed) (a)

11,696,000

12,105,033

TOTAL OTHER GOVERNMENT RELATED

70,042,760

TOTAL U.S. GOVERNMENT AND GOVERNMENT AGENCY OBLIGATIONS

(Cost $457,911,077)

470,250,611

U.S. Government Agency - Mortgage Securities - 3.0%

 

Fannie Mae - 1.8%

1.929% 4/1/33 (c)

205,571

212,035

1.94% 10/1/33 (c)

20,081

20,770

1.946% 4/1/36 (c)

241,756

249,811

1.971% 12/1/34 (c)

23,753

24,513

1.972% 2/1/33 (c)

20,431

21,099

1.975% 4/1/36 (c)

42,330

43,816

1.983% 3/1/35 (c)

17,742

18,360

2.02% 7/1/35 (c)

257,872

267,751

2.058% 7/1/35 (c)

111,819

115,606

2.065% 7/1/35 (c)

9,998

10,330

2.136% 3/1/35 (c)

3,555

3,687

2.488% 5/1/34 (c)

172,813

180,554

2.582% 3/1/35 (c)

11,059

11,542

2.593% 6/1/36 (c)

14,334

15,018

2.618% 7/1/35 (c)

100,273

104,926

2.677% 7/1/36 (c)

85,825

89,428

2.709% 8/1/35 (c)

512,899

537,705

2.73% 11/1/33 (c)

55,719

58,264

2.747% 7/1/35 (c)

580,167

605,133

2.782% 10/1/35 (c)

24,468

25,393

2.798% 10/1/33 (c)

21,210

22,205

2.844% 11/1/36 (c)

111,648

117,358

2.845% 7/1/34 (c)

11,187

11,659

2.861% 2/1/35 (c)

912,384

949,812

2.936% 3/1/33 (c)

53,243

55,771

2.968% 1/1/35 (c)

90,992

94,937

3.03% 7/1/35 (c)

24,947

26,078

3.03% 4/1/36 (c)

140,236

147,822

3.043% 2/1/34 (c)

5,595

5,845

U.S. Government Agency - Mortgage Securities - continued

 

Principal Amount

Value

Fannie Mae - continued

3.051% 10/1/35 (c)

$ 391,951

$ 409,384

3.172% 7/1/35 (c)

344,949

361,395

3.185% 9/1/35 (c)

139,848

146,873

3.2% 9/1/34 (c)

157,611

164,493

3.235% 2/1/36 (c)

253,909

265,493

3.248% 8/1/35 (c)

270,831

286,743

3.295% 11/1/36 (c)

110,875

116,260

3.303% 12/1/32 (c)

68,717

72,008

3.33% 4/1/35 (c)

244,254

255,878

3.407% 10/1/37 (c)

158,408

165,698

3.527% 6/1/47 (c)

49,984

52,287

3.613% 2/1/37 (c)

201,731

211,180

3.787% 7/1/35 (c)

112,583

117,556

3.819% 10/1/35 (c)

124,496

129,308

3.835% 9/1/36 (c)

67,577

71,123

4% 9/1/13

85,697

88,121

5% 2/1/16

15,616

16,588

5.034% 2/1/34 (c)

168,144

176,164

5.482% 2/1/36 (c)

35,028

36,303

5.587% 4/1/36 (c)

226,463

236,709

5.731% 5/1/36 (c)

44,251

46,183

5.942% 4/1/36 (c)

598,068

619,766

6% 6/1/16 to 10/1/16

43,230

46,629

6.087% 3/1/37 (c)

41,539

44,382

6.5% 6/1/15 to 7/1/32

278,083

304,136

6.509% 12/1/32 (c)

794,772

841,589

7% 6/1/12 to 11/1/14

80,241

84,659

9% 2/1/13 to 8/1/21

73,844

82,174

9.5% 11/1/21

331

372

10.5% 8/1/20

12,199

14,563

11% 11/1/10

640

639

11.5% 11/1/15 to 7/15/19

42,754

47,790

12% 4/1/15

9,114

10,501

12.5% 3/1/16

779

895

 

9,571,070

Freddie Mac - 1.2%

1.79% 3/1/37 (c)

229,343

236,152

1.866% 5/1/37 (c)

40,797

42,139

1.872% 3/1/35 (c)

66,842

68,700

2.386% 7/1/35 (c)

502,201

520,340

2.394% 5/1/37 (c)

244,232

255,833

U.S. Government Agency - Mortgage Securities - continued

 

Principal Amount

Value

Freddie Mac - continued

2.41% 5/1/37 (c)

$ 365,159

$ 384,161

2.414% 6/1/33 (c)

115,319

119,619

2.535% 6/1/37 (c)

98,700

103,966

2.605% 4/1/34 (c)

400,946

418,721

2.613% 12/1/33 (c)

235,459

245,781

2.625% 5/1/35 (c)

208,524

217,860

2.664% 6/1/35 (c)

79,864

83,898

2.735% 10/1/35 (c)

149,199

156,008

2.796% 7/1/35 (c)

128,986

134,859

2.865% 11/1/35 (c)

123,335

128,898

3.022% 7/1/35 (c)

93,459

98,307

3.069% 1/1/36 (c)

572,225

602,026

3.151% 4/1/37 (c)

38,596

40,409

3.164% 1/1/35 (c)

295,033

309,409

3.392% 3/1/37 (c)

38,606

39,929

3.471% 10/1/36 (c)

144,450

150,405

3.54% 3/1/33 (c)

3,387

3,583

3.682% 5/1/37 (c)

28,358

29,618

3.948% 12/1/36 (c)

526,969

550,601

4.409% 2/1/36 (c)

28,545

29,900

5% 9/1/35

9,271

9,878

5.234% 2/1/36 (c)

11,784

12,386

5.367% 1/1/36 (c)

113,526

118,137

5.416% 10/1/35 (c)

18,245

19,317

5.533% 1/1/36 (c)

103,817

108,199

5.536% 3/1/36 (c)

387,126

402,361

6.009% 6/1/37 (c)

13,337

14,073

6.122% 7/1/36 (c)

49,411

52,008

6.258% 8/1/37 (c)

77,199

81,436

6.431% 2/1/37 (c)

29,511

31,042

6.5% 12/1/21

225,259

245,108

7.22% 4/1/37 (c)

1,689

1,803

7.5% 11/1/12

30,361

31,958

9% 10/1/16 to 12/1/18

29,144

32,453

9.5% 2/1/17 to 12/1/22

40,774

46,591

10% 6/1/18 to 6/1/20

5,501

6,509

10.5% 9/1/20

123

147

11.5% 10/1/15

2,756

3,086

12% 10/1/13 to 11/1/19

8,906

9,948

U.S. Government Agency - Mortgage Securities - continued

 

Principal Amount

Value

Freddie Mac - continued

12.25% 11/1/14

$ 5,528

$ 6,136

12.5% 2/1/11 to 6/1/19

30,719

34,687

 

6,238,385

Ginnie Mae - 0.0%

8% 12/15/23

122,458

140,280

8.5% 1/15/17 to 3/15/17

25,086

28,095

10.5% 1/15/16 to 1/15/18

26,375

30,548

11% 10/20/13

928

1,020

 

199,943

TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES

(Cost $15,380,753)

16,009,398

Collateralized Mortgage Obligations - 7.7%

 

U.S. Government Agency - 7.7%

Fannie Mae:

floater:

Series 1994-42 Class FK, 2.47% 4/25/24 (c)

878,458

870,671

Series 2006-56 Class PF, 0.6138% 7/25/36 (c)

1,627,253

1,628,935

Series 2006-127 Class FD, 0.5438% 7/25/36 (c)

1,471,120

1,466,126

Series 2006-44 Class FK, 0.6938% 6/25/36 (c)

555,238

555,826

Fannie Mae subordinate REMIC pass-thru certificates:

floater:

Series 2001-38 Class QF, 1.2438% 8/25/31 (c)

200,858

204,524

Series 2002-49 Class FB, 0.8694% 11/18/31 (c)

306,157

307,571

Series 2002-60 Class FV, 1.2638% 4/25/32 (c)

68,545

69,784

Series 2002-74 Class FV, 0.7138% 11/25/32 (c)

839,492

843,904

Series 2002-75 Class FA, 1.2638% 11/25/32 (c)

140,414

142,953

Series 2005-56 Class F, 0.5538% 7/25/35 (c)

2,162,100

2,154,821

Series 2006-50 Class BF, 0.6638% 6/25/36 (c)

1,689,488

1,689,310

Series 2006-79 Class PF, 0.6638% 8/25/36 (c)

1,114,917

1,115,421

planned amortization class:

Series 2002-16 Class PG, 6% 4/25/17

354,096

382,549

Series 2002-9 Class PC, 6% 3/25/17

512,201

553,868

Series 2005-52 Class PB, 6.5% 12/25/34

317,763

343,503

sequential payer:

Series 2002-56 Class MC, 5.5% 9/25/17

82,079

89,014

Series 2002-57 Class BD, 5.5% 9/25/17

83,471

91,574

Series 2004-95 Class AN, 5.5% 1/25/25

273,003

295,229

Series 2003-79 Class FC, 0.7138% 8/25/33 (c)

1,169,581

1,172,377

Collateralized Mortgage Obligations - continued

 

Principal Amount

Value

U.S. Government Agency - continued

Fannie Mae subordinate REMIC pass-thru certificates: - continued

Series 2008-76 Class EF, 0.7638% 9/25/23 (c)

$ 653,841

$ 654,669

Freddie Mac floater Series 237 Class F16, 0.7759% 5/15/36 (c)

1,142,195

1,143,024

Freddie Mac Multi-class participation certificates guaranteed:

floater:

Series 2448 Class FT, 1.2759% 3/15/32 (c)

301,941

307,550

Series 2526 Class FC, 0.6759% 11/15/32 (c)

181,546

182,023

Series 2530 Class FE, 0.8759% 2/15/32 (c)

169,063

170,533

Series 2630 Class FL, 0.7759% 6/15/18 (c)

24,979

25,267

Series 2925 Class CQ, 0% 1/15/35 (c)

20,739

20,263

Series 3247 Class F, 0.6259% 8/15/36 (c)

1,607,513

1,603,443

Series 3255 Class FC, 0.5759% 12/15/36 (c)

1,806,488

1,799,776

Series 3279 Class FB, 0.5959% 2/15/37 (c)

508,425

506,659

Series 3301 Class FA, 0.5759% 8/15/35 (c)

1,734,848

1,730,362

Series 3325 Class NF, 0.5759% 8/15/35 (c)

1,838,977

1,834,225

Series 3346 Class FA, 0.5059% 2/15/19 (c)

3,222,912

3,223,267

planned amortization class:

Series 2356 Class GD, 6% 9/15/16

85,802

92,721

Series 2363 Class PF, 6% 9/15/16

108,735

117,331

Series 2376 Class JE, 5.5% 11/15/16

90,179

98,513

Series 2381 Class OG, 5.5% 11/15/16

64,053

69,802

Series 2425 Class JH, 6% 3/15/17

115,604

127,017

Series 2628 Class OE, 4.5% 6/15/18

335,000

366,342

Series 2695 Class DG, 4% 10/15/18

805,000

869,627

Series 3122 Class FE, 0.5759% 3/15/36 (c)

1,469,722

1,469,773

Series 3147 Class PF, 0.5759% 4/15/36 (c)

1,239,719

1,239,172

sequential payer:

Series 1929 Class EZ, 7.5% 2/17/27

705,974

765,871

Series 2570 Class CU, 4.5% 7/15/17

33,735

34,957

Series 2572 Class HK, 4% 2/15/17

37,347

38,073

Series 2668 Class AZ, 4% 9/15/18

738,147

804,887

Series 2672 Class HA, 4% 9/15/16

365,406

376,033

Series 2729 Class GB, 5% 1/15/19

515,016

552,229

Series 2860 Class CP, 4% 10/15/17

24,609

24,995

Series 3013 Class VJ, 5% 1/15/14

598,385

633,172

Ginnie Mae 0.5578% 9/1/60 (c)(d)

1,260,000

1,260,000

Ginnie Mae guaranteed REMIC pass-thru securities:

floater Series 2010-H17 Class FA, 0.6569% 7/20/60 (c)(d)

1,282,000

1,292,512

Collateralized Mortgage Obligations - continued

 

Principal Amount

Value

U.S. Government Agency - continued

Ginnie Mae guaranteed REMIC pass-thru securities: - continued

floater 0.5663% 1/20/31 (c)

$ 730,539

$ 731,026

Series 2003-42 Class FH, 0.7163% 5/20/33 (c)

311,241

313,842

Series 2004-59 Class FC, 0.5759% 8/16/34 (c)

612,766

613,382

0.5755% 8/1/60 (c)(d)

1,660,000

1,666,246

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $40,241,179)

40,736,544

Cash Equivalents - 4.2%

Maturity Amount

 

Investments in repurchase agreements in a joint trading account at 0.25%, dated 8/31/10 due 9/1/10 (Collateralized by U.S. Government Obligations) #
(Cost $22,515,000)

$ 22,515,155

22,515,000

TOTAL INVESTMENT PORTFOLIO - 103.4%

(Cost $536,048,009)

549,511,553

NET OTHER ASSETS (LIABILITIES) - (3.4)%

(18,092,854)

NET ASSETS - 100%

$ 531,418,699

Futures Contracts

Expiration Date

Underlying Face Amount at Value

Unrealized Appreciation/
(Depreciation)

Purchased

Treasury Contracts

42 CBOT 2 Year U.S. Treasury Notes Index Contracts

Jan. 2011

$ 9,203,906

$ 1,859

The face value of futures purchased as a percentage of net assets is 1.7%

Legend

(a) Under the Temporary Liquidity Guarantee Program, the Federal Deposit Insurance Corporation guarantees principal and interest in the event of payment default or bankruptcy until the earlier of maturity date of the debt or until June 30, 2012. At the end of the period these securities amounted to $70,042,760 or 13.2% of net assets.

(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $53,766.

(c) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(d) Represents an investment in an underlying pool of reverse mortgages which typically do not require regular principal and interest payments as repayment is deferred until a maturity event.

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty

Value

$22,515,000 due 9/01/10 at 0.25%

Banc of America Securities LLC

$ 1,752,891

Bank of America NA

2,631,092

Barclays Capital, Inc.

5,262,184

Goldman, Sachs & Co.

877,031

Merrill Lynch Government Securities, Inc.

1,578,655

Mizuho Securities USA, Inc.

7,016,244

Morgan Stanley & Co., Inc.

3,396,903

 

$ 22,515,000

Other Information

The following is a summary of the inputs used, as of August 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

U.S. Government and Government Agency Obligations

$ 470,250,611

$ -

$ 470,250,611

$ -

U.S. Government Agency - Mortgage Securities

16,009,398

-

16,009,398

-

Collateralized Mortgage Obligations

40,736,544

-

40,736,544

-

Cash Equivalents

22,515,000

-

22,515,000

-

Total Investments in Securities:

$ 549,511,553

$ -

$ 549,511,553

$ -

Derivative Instruments:

Assets

Futures Contracts

$ 1,859

$ 1,859

$ -

$ -

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:

Beginning Balance

$ 239,535

Total Realized Gain (Loss)

(23)

Total Unrealized Gain (Loss)

17,947

Cost of Purchases

-

Proceeds of Sales

(257,459)

Amortization/Accretion

-

Transfers in to Level 3

-

Transfers out of Level 3

-

Ending Balance

$ -

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2010

$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

Income Tax Information

At August 31, 2010, the cost of investment securities for income tax purposes was $536,036,418. Net unrealized appreciation aggregated $13,475,135, of which $13,501,394 related to appreciated investment securities and $26,259 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels. Level 1 - 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). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows.

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For U.S. government and government agency obligations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

For collateralized mortgage obligations and U.S. government agency mortgage securities, pricing services utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and, accordingly, such securities are generally categorized as Level 2 in the hierarchy. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates fair value and are categorized as Level 2 in the hierarchy. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly 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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series IV's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Advisor Series IV

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

November 1, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/John R. Hebble

 

John R. Hebble

 

President and Treasurer

 

 

Date:

November 1, 2010

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 1, 2010