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 811-3785

Fidelity Advisor Series I
 (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:

December 31

 

 

Date of reporting period:

September 30, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Advisor Mid Cap II Fund
Class A
Class T
Class B
Class C
Institutional Class

September 30, 2010 

1.807739.106

AMP-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.3%

Shares

Value

CONSUMER DISCRETIONARY - 20.4%

Auto Components - 0.7%

Autoliv, Inc.

30

$ 1,960

Fuel Systems Solutions, Inc. (a)

493,155

19,287,292

Minth Group Ltd.

38,000

75,814

New Focus Auto Tech Holdings Ltd. (a)

2,015,910

597,576

 

19,962,642

Automobiles - 0.1%

Geely Automobile Holdings Ltd. (d)

7,485,000

3,714,042

Diversified Consumer Services - 0.4%

Bridgepoint Education, Inc. (a)(d)

693,762

10,725,561

MegaStudy Co. Ltd.

1,778

262,899

Pre-Paid Legal Services, Inc. (a)(d)

18,600

1,162,314

 

12,150,774

Hotels, Restaurants & Leisure - 0.8%

Jollibee Food Corp.

200

419

Kappa Create Co. Ltd. (d)

230,350

4,831,736

Little Sheep Group Ltd.

1,776,000

1,201,701

Minor International PCL (For. Reg.) warrants 5/18/13 (a)

46,442

5,516

Sonic Corp. (a)

293,128

2,368,474

Starbucks Corp.

243,600

6,231,288

Starwood Hotels & Resorts Worldwide, Inc.

132,842

6,980,847

TAJ GVK Hotels & Resorts Ltd.

58,333

206,201

 

21,826,182

Internet & Catalog Retail - 5.6%

Drugstore.com, Inc. (a)

1,007,961

1,935,285

Netflix, Inc. (a)(d)

985,341

159,782,897

 

161,718,182

Leisure Equipment & Products - 3.2%

Hasbro, Inc.

2,052,471

91,355,484

Media - 1.7%

Den Networks Ltd.

1,162,470

6,129,245

Entertainment Network (India) Ltd. (a)

23,177

122,203

Proto Corp.

17,900

756,454

The Walt Disney Co.

1,256,713

41,609,767

Value Line, Inc.

54,703

758,731

 

49,376,400

Common Stocks - continued

Shares

Value

CONSUMER DISCRETIONARY - continued

Multiline Retail - 0.1%

Clicks Group Ltd.

117,991

$ 748,214

Golden Eagle Retail Group Ltd. (H Shares)

74,000

209,821

 

958,035

Specialty Retail - 7.6%

Advance Auto Parts, Inc.

2,134,032

125,224,998

Hot Topic, Inc.

951,180

5,697,568

Inditex SA

213

16,922

Ross Stores, Inc.

583,954

31,895,567

Sally Beauty Holdings, Inc. (a)(d)

3,306,434

37,032,061

SAZABY, Inc.

184,600

3,081,327

TJX Companies, Inc.

341,964

15,261,853

Tsutsumi Jewelry Co. Ltd.

33,400

835,315

 

219,045,611

Textiles, Apparel & Luxury Goods - 0.2%

Columbia Sportswear Co.

1,612

94,205

Daphne International Holdings Ltd.

5,544,000

6,552,195

 

6,646,400

TOTAL CONSUMER DISCRETIONARY

586,753,752

CONSUMER STAPLES - 3.2%

Beverages - 0.8%

Molson Coors Brewing Co. Class B

477,231

22,534,848

Food & Staples Retailing - 1.3%

Daikokutenbussan Co. Ltd.

32,400

1,090,401

Heng Tai Consumables Group Ltd.

34,066,730

6,234,664

Kroger Co.

1,142,237

24,740,853

Wal-Mart Stores, Inc.

110,990

5,940,185

 

38,006,103

Food Products - 0.9%

Britannia Industries Ltd.

54,840

538,864

Campbell Soup Co.

149,814

5,355,851

Want Want China Holdings Ltd.

22,523,000

20,900,322

 

26,795,037

Personal Products - 0.2%

Concern Kalina OJSC sponsored ADR

30,300

596,146

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Personal Products - continued

Hengan International Group Co. Ltd.

35,500

$ 353,902

USANA Health Sciences, Inc. (a)

130,248

5,256,809

 

6,206,857

TOTAL CONSUMER STAPLES

93,542,845

ENERGY - 6.4%

Energy Equipment & Services - 6.3%

Dresser-Rand Group, Inc. (a)

495,462

18,277,593

Ensco International Ltd. ADR

793,001

35,470,935

Helix Energy Solutions Group, Inc. (a)

454,334

5,061,281

Nabors Industries Ltd. (a)

2,105,367

38,022,928

Newpark Resources, Inc. (a)

1,778,891

14,942,684

Noble Corp.

70,600

2,385,574

Parker Drilling Co. (a)

2,682,958

11,670,867

Patterson-UTI Energy, Inc.

3,182,815

54,362,480

Weatherford International Ltd. (a)

13,300

227,430

 

180,421,772

Oil, Gas & Consumable Fuels - 0.1%

Marathon Oil Corp.

87,000

2,879,700

Plains Exploration & Production Co. (a)

16,919

451,230

 

3,330,930

TOTAL ENERGY

183,752,702

FINANCIALS - 10.8%

Capital Markets - 1.9%

Janus Capital Group, Inc.

2,424,647

26,549,885

Marusan Securities Co. Ltd.

1,177,900

6,061,659

Northern Trust Corp.

319,666

15,420,688

SEI Investments Co.

364,359

7,411,062

 

55,443,294

Commercial Banks - 1.3%

Aozora Bank Ltd.

573,000

844,530

Bank of Baroda

206,102

4,189,303

Sumitomo Mitsui Financial Group, Inc.

316,800

9,232,703

The Jammu & Kashmir Bank Ltd.

101

1,825

Union Bank of India

2,661,607

23,711,825

 

37,980,186

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Diversified Financial Services - 0.2%

CRISIL Ltd.

28,646

$ 3,907,380

ICRA Ltd.

311

8,594

 

3,915,974

Insurance - 6.4%

Admiral Group PLC

88,472

2,315,492

CNinsure, Inc. ADR (d)

51,996

1,215,147

Lincoln National Corp.

152,733

3,653,373

Old Republic International Corp.

3,859,786

53,458,036

Presidential Life Corp.

345,741

3,388,262

Progressive Corp.

834,956

17,425,532

Protective Life Corp.

637,783

13,878,158

Reinsurance Group of America, Inc.

1,342,432

64,826,041

The Chubb Corp.

437,181

24,914,945

 

185,074,986

Real Estate Management & Development - 1.0%

Goldcrest Co. Ltd.

205,470

3,876,289

Hang Lung Properties Ltd.

449,000

2,193,208

Iguatemi Empresa de Shopping Centers SA

515,700

11,515,823

Kenedix, Inc. (a)

12,484

2,210,294

Songbird Estates PLC:

rights 10/8/10 (a)

235

85

Class B (a)

1,408

3,340

SPG Land (Holdings) Ltd.

690,850

327,662

Wharf Holdings Ltd.

1,231,000

7,916,858

Yanlord Land Group Ltd.

820,000

1,090,923

 

29,134,482

TOTAL FINANCIALS

311,548,922

HEALTH CARE - 17.7%

Biotechnology - 3.6%

3SBio, Inc. sponsored ADR (a)

184,299

2,392,201

Abcam PLC

174,300

4,728,812

AMAG Pharmaceuticals, Inc. (a)(d)

246,429

4,241,043

Dendreon Corp. (a)

100

4,118

ImmunoGen, Inc. (a)

70,494

441,997

Myriad Genetics, Inc. (a)

668,033

10,962,422

Nanosphere, Inc. (a)

277,129

1,393,959

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Biotechnology - continued

Sangamo Biosciences, Inc. (a)(d)

218,068

$ 747,973

Vertex Pharmaceuticals, Inc. (a)

2,271,173

78,514,451

 

103,426,976

Health Care Equipment & Supplies - 3.3%

CareFusion Corp. (a)

33,200

824,688

Edwards Lifesciences Corp. (a)

538,304

36,093,283

Genmark Diagnostics, Inc.

72,600

243,936

Kinetic Concepts, Inc. (a)

697,060

25,498,455

Masimo Corp.

185,273

5,059,806

Nobel Biocare Holding AG (Switzerland)

240,102

4,313,502

Quidel Corp. (a)(d)

305,729

3,359,962

Shandong Weigao Group Medical Polymer Co. Ltd. (H Shares)

3,104,000

8,841,139

Steris Corp.

260,360

8,649,159

ThermoGenesis Corp. (a)

23,930

69,636

Vascular Solutions, Inc. (a)

100,468

1,153,373

 

94,106,939

Health Care Providers & Services - 0.7%

IPC The Hospitalist Co., Inc. (a)

93,768

2,561,742

Laboratory Corp. of America Holdings (a)

219,519

17,216,875

Message Co. Ltd.

671

1,597,022

 

21,375,639

Health Care Technology - 7.9%

Allscripts-Misys Healthcare Solutions, Inc. (a)

4,318,032

79,754,051

athenahealth, Inc. (a)(d)

1,073,017

35,431,021

Cerner Corp. (a)

1,221,128

102,562,541

Computer Programs & Systems, Inc.

157,115

6,688,386

Quality Systems, Inc.

24,538

1,627,115

 

226,063,114

Life Sciences Tools & Services - 1.4%

Albany Molecular Research, Inc. (a)

100

638

Bio-Rad Laboratories, Inc. Class A (a)

312

28,239

QIAGEN NV (a)

631,531

11,203,360

Thermo Fisher Scientific, Inc. (a)

612,573

29,329,995

 

40,562,232

Pharmaceuticals - 0.8%

Ardea Biosciences, Inc. (a)

88,491

2,035,293

Aspen Pharmacare Holdings Ltd.

746,900

10,072,681

Cadila Healthcare Ltd.

91,202

1,341,933

China Pharma Holdings, Inc. (a)

9,700

24,735

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Cipla Ltd.

18,348

$ 132,701

Piramal Healthcare Ltd.

877,542

9,834,692

 

23,442,035

TOTAL HEALTH CARE

508,976,935

INDUSTRIALS - 3.6%

Building Products - 0.1%

Blue Star Ltd.

328,890

3,580,747

Commercial Services & Supplies - 0.1%

Blue Label Telecoms Ltd.

833,600

753,448

Cintas Corp.

69,926

1,926,461

R.R. Donnelley & Sons Co.

19,481

330,398

Taiwan Secom Co.

1,000

1,712

 

3,012,019

Construction & Engineering - 0.7%

Fluor Corp.

153,100

7,583,043

Jacobs Engineering Group, Inc. (a)

229,912

8,897,594

MasTec, Inc. (a)

218,483

2,254,745

Raubex Group Ltd.

100

327

 

18,735,709

Electrical Equipment - 0.1%

PowerSecure International, Inc. (a)(d)

34,959

323,720

Vestas Wind Systems AS (a)

49,000

1,846,587

 

2,170,307

Industrial Conglomerates - 0.2%

Max India Ltd. (a)

1,352,559

5,149,860

Machinery - 1.3%

AGCO Corp. (a)

860,245

33,558,157

Bell Equipment Ltd. (a)

3,076

4,369

EVA Precision Industrial Holdings Ltd.

3,588,000

2,117,933

Nippon Thompson Co. Ltd.

473,000

3,200,533

Uzel Makina Sanayi AS (a)

101,200

1

 

38,880,993

Professional Services - 1.1%

Corporate Executive Board Co.

143,554

4,530,564

Equifax, Inc.

121,700

3,797,040

JobStreet Corp. Bhd

661,900

488,859

Common Stocks - continued

Shares

Value

INDUSTRIALS - continued

Professional Services - continued

Michael Page International PLC

1,922,191

$ 13,914,621

Randstad Holdings NV (a)

177,736

8,075,489

 

30,806,573

TOTAL INDUSTRIALS

102,336,208

INFORMATION TECHNOLOGY - 20.5%

Communications Equipment - 1.7%

DG FastChannel, Inc. (a)(d)

325,365

7,076,689

Juniper Networks, Inc. (a)

1,345,724

40,842,723

MIC Electronics Ltd.

470,196

423,039

ZTE Corp. (H Shares)

94,380

375,866

 

48,718,317

Computers & Peripherals - 1.5%

Gemalto NV

1,051,361

43,153,277

Lenovo Group Ltd. ADR

2,700

33,170

 

43,186,447

Electronic Equipment & Components - 1.1%

Digital China Holdings Ltd. (H Shares)

6,990,000

12,180,023

HLS Systems International Ltd. (a)(d)

39,500

442,005

Ingenico SA

612,159

17,881,682

RadiSys Corp. (a)

6,200

58,404

Trimble Navigation Ltd. (a)

200

7,008

Wasion Group Holdings Ltd.

370,000

283,735

 

30,852,857

Internet Software & Services - 7.2%

Constant Contact, Inc. (a)(d)

281,938

6,041,931

eBay, Inc. (a)

7,208,214

175,880,418

INFO Edge India Ltd.

17,140

270,771

Internet Brands, Inc. Class A (a)

354

4,701

LoopNet, Inc. (a)

190

2,250

NHN Corp. (a)

18,049

3,102,482

Support.com, Inc. (a)

118,990

544,974

ValueClick, Inc. (a)

45,031

589,005

VeriSign, Inc. (a)

303,003

9,617,315

WebMD Health Corp. (a)

214,160

10,680,159

 

206,734,006

IT Services - 0.0%

Computer Task Group, Inc. (a)

93,797

716,609

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Office Electronics - 0.7%

Xerox Corp.

2,081,162

$ 21,540,027

Semiconductors & Semiconductor Equipment - 3.2%

Aixtron AG

40

1,189

Altera Corp.

1,092,466

32,948,775

Cree, Inc. (a)

2,350

127,582

Kontron AG

1,109,579

9,633,510

PMC-Sierra, Inc. (a)

4,559,624

33,558,833

Richtek Technology Corp.

485,173

3,607,697

Siliconware Precision Industries Co. Ltd. sponsored ADR

1,805,500

9,803,865

Veeco Instruments, Inc. (a)(d)

46,371

1,616,957

 

91,298,408

Software - 5.1%

Electronic Arts, Inc. (a)

713,632

11,724,974

Epicor Software Corp. (a)

68,715

597,821

Kingdee International Software Group Co. Ltd.

20,022,000

9,367,168

Longtop Financial Technologies Ltd. ADR (a)(d)

1,279,700

50,356,195

NetSuite, Inc. (a)

54

1,273

NIIT Technologies Ltd.

30,505

138,802

Rovi Corp. (a)

305,607

15,405,649

Shanda Interactive Entertainment Ltd. sponsored ADR (a)(d)

559,774

21,915,152

Solera Holdings, Inc.

249,870

11,034,259

Ubisoft Entertainment SA (a)

2,112,124

23,515,384

VanceInfo Technologies, Inc. ADR (a)(d)

138,000

4,462,920

 

148,519,597

TOTAL INFORMATION TECHNOLOGY

591,566,268

MATERIALS - 9.5%

Chemicals - 0.8%

Asian Paints India Ltd.

133

7,947

Sensient Technologies Corp.

501,650

15,295,309

Zoltek Companies, Inc. (a)(d)

660,861

6,423,569

 

21,726,825

Metals & Mining - 8.7%

Africa Cellular Towers Ltd. (a)

800

34

Agnico-Eagle Mines Ltd. (Canada)

108,900

7,743,412

Barrick Gold Corp.

278,000

12,849,478

Centerra Gold, Inc.

192,500

3,106,197

Eldorado Gold Corp.

2,777,700

51,355,387

Franco-Nevada Corp.

15,900

500,299

Common Stocks - continued

Shares

Value

MATERIALS - continued

Metals & Mining - continued

IAMGOLD Corp.

1,493,900

$ 26,458,185

Kinross Gold Corp.

2,096,549

39,332,584

Kinross Gold Corp. warrants 9/17/14 (a)

35,453

151,634

Minefinders Corp. Ltd. (a)(d)

540,300

5,278,265

Newcrest Mining Ltd.

1,784,030

68,412,209

Newmont Mining Corp.

467,252

29,348,098

Prakash Industries Ltd. (a)

43,598

160,913

Yamana Gold, Inc.

612,233

6,980,795

 

251,677,490

TOTAL MATERIALS

273,404,315

UTILITIES - 0.2%

Independent Power Producers & Energy Traders - 0.2%

Calpine Corp. (a)

346,730

4,316,789

Multi-Utilities - 0.0%

Sempra Energy

12,000

645,600

TOTAL UTILITIES

4,962,389

TOTAL COMMON STOCKS

(Cost $2,133,445,278)

2,656,844,336

Nonconvertible Bonds - 0.0%

 

Principal Amount (c)

 

CONSUMER STAPLES - 0.0%

Food Products - 0.0%

Britannia Industries Ltd. 8.25% 3/22/13

(Cost $189)

INR

10,968

426

Money Market Funds - 10.9%

Shares

Value

Fidelity Cash Central Fund, 0.25% (e)

211,652,573

$ 211,652,573

Fidelity Securities Lending Cash Central Fund, 0.26% (b)(e)

102,851,750

102,851,750

TOTAL MONEY MARKET FUNDS

(Cost $314,504,323)

314,504,323

TOTAL INVESTMENT PORTFOLIO - 103.2%

(Cost $2,447,949,790)

2,971,349,085

NET OTHER ASSETS (LIABILITIES) - (3.2)%

(92,765,661)

NET ASSETS - 100%

$ 2,878,583,424

Currency Abbreviations

INR

-

Indian rupee

Legend

(a) Non-income producing

(b) Investment made with cash collateral received from securities on loan.

(c) Principal amount is stated in United States dollars unless otherwise noted.

(d) Security or a portion of the security is on loan at period end.

(e) Affiliated fund that is 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.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 133,490

Fidelity Securities Lending Cash Central Fund

1,689,280

Total

$ 1,822,770

Other Information

The following is a summary of the inputs used, as of September 30, 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:

Equities:

Consumer Discretionary

$ 586,753,752

$ 577,248,920

$ 9,504,832

$ -

Consumer Staples

93,542,845

92,452,444

1,090,401

-

Energy

183,752,702

183,752,702

-

-

Financials

311,548,922

261,422,234

50,126,688

-

Health Care

508,976,935

507,379,913

1,597,022

-

Industrials

102,336,208

99,135,674

3,200,533

1

Information Technology

591,566,268

591,566,268

-

-

Materials

273,404,315

273,404,315

-

-

Utilities

4,962,389

4,962,389

-

-

Corporate Bonds

426

-

426

-

Money Market Funds

314,504,323

314,504,323

-

-

Total Investments in Securities:

$ 2,971,349,085

$ 2,905,829,182

$ 65,519,902

$ 1

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

Investments in Securities:

Beginning Balance

$ 492,958

Total Realized Gain (Loss)

-

Total Unrealized Gain (Loss)

(26,378)

Cost of Purchases

19,375

Proceeds of Sales

(485,954)

Amortization/Accretion

-

Transfers in to Level 3

-

Transfers out of Level 3

-

Ending Balance

$ 1

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at September 30, 2010

$ (43,355)

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 September 30, 2010, the cost of investment securities for income tax purposes was $2,459,237,386. Net unrealized appreciation aggregated $512,111,699, of which $640,391,666 related to appreciated investment securities and $128,279,967 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.

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 an independent 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 foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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 corporate bonds, 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.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 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.

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 visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

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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 I'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 I

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 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/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 2010

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 29, 2010