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)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Marc Bryant, Secretary

245 Summer St.

Boston, Massachusetts 02210
(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, 2015

Item 1. Schedule of Investments

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Dividend
Growth Fund

August 31, 2015

1.805738.111

ADGF-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.2%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 9.6%
Diversified Consumer Services - 0.8%
H&R Block, Inc.	230,664		$ 7,847
Hotels, Restaurants & Leisure - 1.2%
Las Vegas Sands Corp.	89,300		4,128
Wyndham Worldwide Corp.	106,852		8,172
			12,300
Leisure Products - 0.3%
Vista Outdoor, Inc. (a)	55,800		2,609
Media - 2.5%
Altice NV:
Class A (a)	195,300		5,572
Class B (a)	65,100		2,044
Comcast Corp. Class A	321,425		18,106
			25,722
Multiline Retail - 1.9%
Dillard's, Inc. Class A	72,500		6,707
Target Corp.	168,200		13,071
			19,778
Specialty Retail - 2.1%
AutoZone, Inc. (a)	14,100		10,095
Foot Locker, Inc.	156,391		11,071
Kingfisher PLC	3,975		22
			21,188
Textiles, Apparel & Luxury Goods - 0.8%
Fossil Group, Inc. (a)	40,600		2,500
VF Corp.	73,600		5,331
			7,831
TOTAL CONSUMER DISCRETIONARY			97,275
CONSUMER STAPLES - 12.9%
Beverages - 3.9%
Constellation Brands, Inc. Class A (sub. vtg.)	56,400		7,219
Dr. Pepper Snapple Group, Inc.	62,011		4,758
PepsiCo, Inc.	141,100		13,112
The Coca-Cola Co.	373,410		14,682
			39,771
Food & Staples Retailing - 4.1%
CVS Health Corp.	217,100		22,231
Kroger Co.	118,720		4,096
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food & Staples Retailing - continued
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.	60,793		$ 2,711
Walgreens Boots Alliance, Inc.	148,523		12,855
			41,893
Food Products - 0.5%
Greencore Group PLC	812,005		3,704
Hilton Food Group PLC	242,144		1,608
			5,312
Household Products - 1.9%
Energizer Holdings, Inc.	39,900		1,666
Procter & Gamble Co.	247,700		17,505
			19,171
Personal Products - 0.2%
Edgewell Personal Care Co. (a)	23,300		2,052
Tobacco - 2.3%
British American Tobacco PLC (United Kingdom)	87,457		4,631
Imperial Tobacco Group PLC	106,514		5,163
Japan Tobacco, Inc.	197,000		7,001
Reynolds American, Inc.	76,700		6,424
			23,219
TOTAL CONSUMER STAPLES			131,418
ENERGY - 7.5%
Energy Equipment & Services - 0.0%
Aspen Aerogels, Inc. (a)	22,234		166
Oil, Gas & Consumable Fuels - 7.5%
Chevron Corp.	234,990		19,032
Columbia Pipeline Group, Inc.	147,500		3,741
Emerald Oil, Inc. warrants 2/4/16 (a)	826		0
EQT Midstream Partners LP	31,100		2,420
Exxon Mobil Corp.	313,922		23,619
Imperial Oil Ltd.	170,700		6,027
Kinder Morgan, Inc.	286,800		9,295
Northern Oil & Gas, Inc. (a)	128,694		776
PrairieSky Royalty Ltd. (d)	121,700		2,549
Suncor Energy, Inc.	296,480		8,397
			75,856
TOTAL ENERGY			76,022
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - 17.3%
Banks - 11.6%
Bank of America Corp.	1,102,803		$ 18,020
Citigroup, Inc.	308,523		16,500
JPMorgan Chase & Co.	471,093		30,197
PacWest Bancorp	159,000		6,780
SunTrust Banks, Inc.	181,900		7,343
U.S. Bancorp	346,817		14,688
Wells Fargo & Co.	467,790		24,947
			118,475
Capital Markets - 1.1%
Diamond Hill Investment Group, Inc.	6,600		1,285
Franklin Resources, Inc.	56,300		2,285
The Blackstone Group LP	213,190		7,302
			10,872
Consumer Finance - 1.8%
American Express Co.	76,300		5,854
Capital One Financial Corp.	165,482		12,866
Imperial Holdings, Inc. warrants 4/11/19	4,481		1
			18,721
Diversified Financial Services - 1.2%
McGraw Hill Financial, Inc.	124,267		12,053
Insurance - 1.0%
MetLife, Inc.	110,900		5,556
The Chubb Corp.	35,000		4,228
			9,784
Real Estate Investment Trusts - 0.6%
American Tower Corp.	66,000		6,085
TOTAL FINANCIALS			175,990
HEALTH CARE - 15.1%
Biotechnology - 1.1%
Amgen, Inc.	69,737		10,585
Health Care Equipment & Supplies - 2.8%
Medtronic PLC	293,602		21,224
The Cooper Companies, Inc.	46,102		7,488
			28,712
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Health Care Providers & Services - 1.8%
Cardinal Health, Inc.	102,242		$ 8,411
McKesson Corp.	51,232		10,122
			18,533
Health Care Technology - 0.2%
CompuGroup Medical AG	68,379		2,111
Pharmaceuticals - 9.2%
AbbVie, Inc.	184,900		11,540
Allergan PLC (a)	39,800		12,089
Astellas Pharma, Inc.	355,300		5,255
Johnson & Johnson	302,002		28,382
Sanofi SA sponsored ADR	163,300		7,989
Shire PLC	155,800		12,049
Teva Pharmaceutical Industries Ltd. sponsored ADR	256,400		16,515
			93,819
TOTAL HEALTH CARE			153,760
INDUSTRIALS - 8.0%
Aerospace & Defense - 1.5%
The Boeing Co.	113,000		14,767
Construction & Engineering - 0.1%
Astaldi SpA	83,600		914
Electrical Equipment - 0.8%
BWX Technologies, Inc.	322,100		8,542
Industrial Conglomerates - 4.7%
Danaher Corp.	124,294		10,816
General Electric Co.	1,110,400		27,560
Roper Industries, Inc.	59,596		9,660
			48,036
Machinery - 0.8%
Deere & Co.	93,900		7,679
Professional Services - 0.1%
CEB, Inc.	20,100		1,440
Trading Companies & Distributors - 0.0%
Now, Inc. (a)(d)	17,720		302
TOTAL INDUSTRIALS			81,680
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - 23.6%
Communications Equipment - 3.0%
Cisco Systems, Inc.	592,579		$ 15,336
QUALCOMM, Inc.	274,978		15,558
			30,894
Electronic Equipment & Components - 0.9%
TE Connectivity Ltd.	147,943		8,772
Internet Software & Services - 2.6%
Google, Inc. Class C	42,828		26,478
IT Services - 4.0%
ASAC II LP (a)(e)	298,480		5,793
Fidelity National Information Services, Inc.	142,298		9,827
IBM Corp.	99,900		14,774
Leidos Holdings, Inc.	54,200		2,281
Science Applications International Corp.	31,100		1,517
Total System Services, Inc.	137,200		6,288
			40,480
Semiconductors & Semiconductor Equipment - 0.5%
Altera Corp.	40,200		1,952
Broadcom Corp. Class A	51,700		2,671
			4,623
Software - 4.8%
Activision Blizzard, Inc.	207,867		5,951
Micro Focus International PLC	246,900		4,944
Microsoft Corp.	532,963		23,195
Oracle Corp.	405,228		15,030
			49,120
Technology Hardware, Storage & Peripherals - 7.8%
Apple, Inc.	419,024		47,252
EMC Corp.	606,200		15,076
Hewlett-Packard Co.	374,000		10,494
Samsung Electronics Co. Ltd.	2,558		2,355
Western Digital Corp.	47,800		3,918
			79,095
TOTAL INFORMATION TECHNOLOGY			239,462
MATERIALS - 3.1%
Chemicals - 2.8%
CF Industries Holdings, Inc.	162,900		9,347
LyondellBasell Industries NV Class A	78,100		6,668
Common Stocks - continued
	Shares		Value (000s)
MATERIALS - continued
Chemicals - continued
Monsanto Co.	53,800		$ 5,254
Potash Corp. of Saskatchewan, Inc.	181,500		4,727
PPG Industries, Inc.	26,400		2,516
			28,512
Containers & Packaging - 0.3%
Ball Corp.	46,571		3,069
TOTAL MATERIALS			31,581
TELECOMMUNICATION SERVICES - 1.1%
Diversified Telecommunication Services - 0.8%
AT&T, Inc.	243,500		8,084
Wireless Telecommunication Services - 0.3%
Vodafone Group PLC sponsored ADR	100,000		3,448
TOTAL TELECOMMUNICATION SERVICES			11,532
TOTAL COMMON STOCKS (Cost $898,671)		998,720

Convertible Bonds - 0.0%
	Principal Amount (000s)
ENERGY - 0.0%
Oil, Gas & Consumable Fuels - 0.0%
Amyris, Inc. 3% 2/27/17 (Cost $791)	$ 791	706

Money Market Funds - 2.3%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.15% (b)	20,294,638		$ 20,295
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	2,804,450		2,804
TOTAL MONEY MARKET FUNDS (Cost $23,099)		23,099
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $922,561)			1,022,525
NET OTHER ASSETS (LIABILITIES) - (0.5)%			(5,544)
NET ASSETS - 100%		$ 1,016,981

Legend

(a) Non-income producing

(b) 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.

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

(e) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,793,000 or 0.6% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
ASAC II LP	10/10/13	$ 2,985

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 38
Fidelity Securities Lending Cash Central Fund	76
Total	$ 114

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 97,275	$ 97,253	$ 22	$ -
Consumer Staples	131,418	119,786	11,632	-
Energy	76,022	76,022	-	-
Financials	175,990	175,989	1	-
Health Care	153,760	136,456	17,304	-
Industrials	81,680	81,680	-	-
Information Technology	239,462	233,669	-	5,793
Materials	31,581	31,581	-	-
Telecommunication Services	11,532	11,532	-	-
Corporate Bonds	706	-	706	-
Money Market Funds	23,099	23,099	-	-
Total Investments in Securities:	$ 1,022,525	$ 987,067	$ 29,665	$ 5,793

The following is a summary of transfers between Level 1 and Level 2 for the period ended August 31, 2015. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing:

Transfers	Total (000s)
Level 1 to Level 2	$ 12,636
Level 2 to Level 1	$ 0

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $923,813,000. Net unrealized appreciation aggregated $98,712,000, of which $155,382,000 related to appreciated investment securities and $56,670,000 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, 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 Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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 a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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.

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

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Equity
Growth Fund

August 31, 2015

1.805739.111

EPG-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.2%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 16.0%
Automobiles - 0.9%
Tesla Motors, Inc. (a)(d)	102,063		$ 25,420
Diversified Consumer Services - 1.1%
Bright Horizons Family Solutions, Inc. (a)	166,600		10,183
Houghton Mifflin Harcourt Co. (a)	221,900		5,011
Nord Anglia Education, Inc. (a)	134,321		2,759
ServiceMaster Global Holdings, Inc. (a)	321,900		11,324
			29,277
Hotels, Restaurants & Leisure - 4.4%
Buffalo Wild Wings, Inc. (a)	36,800		6,980
Chipotle Mexican Grill, Inc. (a)	29,585		21,006
Domino's Pizza, Inc.	184,800		19,578
Jubilant Foodworks Ltd. (a)	52,463		1,318
Starbucks Corp.	1,161,402		63,540
Wingstop, Inc.	10,192		279
Yum! Brands, Inc.	103,879		8,286
			120,987
Household Durables - 0.8%
Harman International Industries, Inc.	142,200		13,899
Toll Brothers, Inc. (a)	205,800		7,608
			21,507
Internet & Catalog Retail - 2.1%
Amazon.com, Inc. (a)	93,500		47,955
Netflix, Inc. (a)	63,700		7,327
NutriSystem, Inc.	122,400		3,425
			58,707
Leisure Products - 0.0%
NJOY, Inc. (a)(e)	202,642		0
Specialty Retail - 4.9%
AutoZone, Inc. (a)	11,100		7,947
Five Below, Inc. (a)	335,100		12,958
Home Depot, Inc.	518,244		60,355
L Brands, Inc.	87,200		7,316
Lowe's Companies, Inc.	152,700		10,562
MarineMax, Inc. (a)	209,400		3,413
Restoration Hardware Holdings, Inc. (a)	2,800		259
Ulta Salon, Cosmetics & Fragrance, Inc. (a)	189,349		29,934
			132,744
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - 1.8%
Kate Spade & Co. (a)	906,300		$ 17,183
NIKE, Inc. Class B	277,057		30,961
			48,144
TOTAL CONSUMER DISCRETIONARY			436,786
CONSUMER STAPLES - 4.7%
Beverages - 0.5%
Kweichow Moutai Co. Ltd.	64,130		1,965
The Coca-Cola Co.	317,626		12,489
			14,454
Food & Staples Retailing - 1.4%
CVS Health Corp.	187,700		19,220
Whole Foods Market, Inc.	547,883		17,949
			37,169
Food Products - 1.0%
Keurig Green Mountain, Inc.	494,391		27,983
Household Products - 0.5%
Procter & Gamble Co.	182,091		12,868
Personal Products - 1.3%
Estee Lauder Companies, Inc. Class A	101,200		8,073
Herbalife Ltd. (a)	466,166		26,837
			34,910
TOTAL CONSUMER STAPLES			127,384
ENERGY - 0.8%
Oil, Gas & Consumable Fuels - 0.8%
Cheniere Energy, Inc. (a)	109,200		6,787
Golar LNG Ltd.	346,348		13,487
			20,274
FINANCIALS - 6.4%
Banks - 0.8%
First Republic Bank	302,800		18,262
HDFC Bank Ltd. (a)	68,446		1,229
M&T Bank Corp.	25,400		3,003
			22,494
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Capital Markets - 3.4%
BlackRock, Inc. Class A	42,000		$ 12,704
E*TRADE Financial Corp. (a)	850,445		22,358
HFF, Inc.	199,700		7,255
Invesco Ltd.	312,323		10,653
JMP Group, Inc.	141,100		1,009
The Blackstone Group LP	875,233		29,977
Virtus Investment Partners, Inc.	80,100		9,216
			93,172
Diversified Financial Services - 1.2%
Berkshire Hathaway, Inc. Class B (a)	55,800		7,479
McGraw Hill Financial, Inc.	246,875		23,944
			31,423
Real Estate Management & Development - 0.8%
Realogy Holdings Corp. (a)	551,118		22,210
Thrifts & Mortgage Finance - 0.2%
Essent Group Ltd. (a)	229,300		6,143
TOTAL FINANCIALS			175,442
HEALTH CARE - 16.9%
Biotechnology - 10.4%
Amgen, Inc.	211,100		32,041
BioMarin Pharmaceutical, Inc. (a)	161,679		20,895
Celgene Corp. (a)	161,600		19,082
Cytokinetics, Inc. warrants 6/25/17 (a)	856,620		370
Gilead Sciences, Inc.	1,388,047		145,842
Insmed, Inc. (a)	744,220		18,189
Medivation, Inc. (a)	164,300		14,468
Ophthotech Corp. (a)	115,016		5,064
Vertex Pharmaceuticals, Inc. (a)	231,700		29,546
			285,497
Health Care Equipment & Supplies - 0.6%
Medtronic PLC	138,800		10,034
Novadaq Technologies, Inc. (a)	575,300		6,645
			16,679
Health Care Providers & Services - 0.6%
Express Scripts Holding Co. (a)	189,600		15,851
Pharmaceuticals - 5.3%
Astellas Pharma, Inc.	3,065,000		45,333
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Pharmaceuticals - continued
Shire PLC	316,000		$ 24,439
Teva Pharmaceutical Industries Ltd. sponsored ADR	533,300		34,350
Valeant Pharmaceuticals International, Inc. (Canada) (a)	174,800		40,523
			144,645
TOTAL HEALTH CARE			462,672
INDUSTRIALS - 10.9%
Aerospace & Defense - 2.4%
Textron, Inc.	340,200		13,200
TransDigm Group, Inc. (a)	176,377		40,537
United Technologies Corp.	123,011		11,269
			65,006
Air Freight & Logistics - 0.6%
United Parcel Service, Inc. Class B	178,600		17,440
Airlines - 0.7%
Ryanair Holdings PLC sponsored ADR	268,780		19,608
Building Products - 1.0%
A.O. Smith Corp.	267,738		17,272
Caesarstone Sdot-Yam Ltd.	236,300		9,402
			26,674
Electrical Equipment - 0.5%
Acuity Brands, Inc.	7,700		1,500
AMETEK, Inc.	199,955		10,762
			12,262
Industrial Conglomerates - 2.9%
Danaher Corp.	674,214		58,670
Roper Industries, Inc.	126,169		20,451
			79,121
Machinery - 0.0%
Sarine Technologies Ltd.	257,200		254
Professional Services - 2.2%
CEB, Inc.	121,700		8,716
Equifax, Inc.	48,900		4,787
On Assignment, Inc. (a)	23,258		837
Resources Connection, Inc.	311,700		4,891
Robert Half International, Inc.	287,800		14,686
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Professional Services - continued
Verisk Analytics, Inc. (a)	114,029		$ 8,333
WageWorks, Inc. (a)	392,900		17,606
			59,856
Trading Companies & Distributors - 0.6%
HD Supply Holdings, Inc. (a)	447,600		14,771
Summit Ascent Holdings Ltd. (a)	5,330,000		2,249
			17,020
TOTAL INDUSTRIALS			297,241
INFORMATION TECHNOLOGY - 37.9%
Electronic Equipment & Components - 0.2%
TE Connectivity Ltd.	94,423		5,598
Internet Software & Services - 19.2%
58.com, Inc. ADR (a)	99,200		4,510
Alibaba Group Holding Ltd. sponsored ADR (d)	422,400		27,929
Cvent, Inc. (a)(d)	324,878		10,247
Facebook, Inc. Class A (a)	3,112,400		278,342
Google, Inc.:
Class A (a)	231,550		150,003
Class C	42,136		26,051
Just Dial Ltd.	139,013		1,770
JUST EAT Ltd. (a)	825,555		4,993
Shopify, Inc. Class A (d)	3,600		100
Textura Corp. (a)(d)	569,489		14,727
Zillow Group, Inc. (a)(d)	69,800		1,772
Zillow Group, Inc. Class C (a)(d)	139,600		3,443
			523,887
IT Services - 2.9%
Cognizant Technology Solutions Corp. Class A (a)	311,600		19,612
Global Payments, Inc.	37,600		4,188
MasterCard, Inc. Class A	81,000		7,482
Visa, Inc. Class A	672,532		47,952
			79,234
Semiconductors & Semiconductor Equipment - 0.5%
Maxim Integrated Products, Inc.	168,728		5,681
Monolithic Power Systems, Inc.	162,432		7,811
			13,492
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - 10.1%
Activision Blizzard, Inc.	246,600		$ 7,060
Adobe Systems, Inc. (a)	432,300		33,966
Computer Modelling Group Ltd. (d)	627,900		5,842
CyberArk Software Ltd. (a)(d)	127,200		6,494
Electronic Arts, Inc. (a)	767,645		50,780
Fleetmatics Group PLC (a)	284,100		12,716
HubSpot, Inc.	58,300		2,757
Intuit, Inc.	86,400		7,409
Mobileye NV (a)(d)	434,000		24,547
Red Hat, Inc. (a)	280,800		20,277
Salesforce.com, Inc. (a)	928,292		64,386
ServiceNow, Inc. (a)	215,100		15,263
SolarWinds, Inc. (a)	507,481		20,172
SS&C Technologies Holdings, Inc.	80,246		5,436
			277,105
Technology Hardware, Storage & Peripherals - 5.0%
Apple, Inc.	1,071,827		120,859
Nimble Storage, Inc. (a)(d)	550,800		14,684
			135,543
TOTAL INFORMATION TECHNOLOGY			1,034,859
MATERIALS - 0.4%
Chemicals - 0.4%
CF Industries Holdings, Inc.	193,400		11,097
TELECOMMUNICATION SERVICES - 0.2%
Wireless Telecommunication Services - 0.2%
SBA Communications Corp. Class A (a)	53,500		6,324
TOTAL COMMON STOCKS (Cost $2,146,869)		2,572,079
Convertible Preferred Stocks - 1.0%

CONSUMER DISCRETIONARY - 0.2%
Household Durables - 0.2%
Blu Homes, Inc. Series A, 5.00% (a)(e)	875,350		5,847
Convertible Preferred Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - 0.8%
Internet Software & Services - 0.7%
Uber Technologies, Inc. Series D, 8.00% (a)(e)	485,012		$ 19,226
IT Services - 0.1%
AppNexus, Inc. Series E (a)(e)	105,425		2,634
TOTAL INFORMATION TECHNOLOGY			21,860
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $13,680)		27,707
Money Market Funds - 7.2%

Fidelity Cash Central Fund, 0.15% (b)	121,897,434		121,897
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	75,019,855		75,020
TOTAL MONEY MARKET FUNDS (Cost $196,917)		196,917
TOTAL INVESTMENT PORTFOLIO - 102.4% (Cost $2,357,466)			2,796,703
NET OTHER ASSETS (LIABILITIES) - (2.4)%			(65,326)
NET ASSETS - 100%		$ 2,731,377

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
AppNexus, Inc. Series E	8/1/14	$ 2,112
Blu Homes, Inc. Series A, 5.00%	6/21/13	$ 4,044
NJOY, Inc.	9/11/13	$ 1,637
Uber Technologies, Inc. Series D, 8.00%	6/6/14	$ 7,524

Values shown as $0 may reflect amounts less than $500.

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 134
Fidelity Securities Lending Cash Central Fund	370
Total	$ 504

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 442,633	$ 436,786	$ -	$ 5,847
Consumer Staples	127,384	127,384	-	-
Energy	20,274	20,274	-	-
Financials	175,442	174,213	1,229	-
Health Care	462,672	392,530	70,142	-
Industrials	297,241	297,241	-	-
Information Technology	1,056,719	1,034,859	-	21,860
Materials	11,097	11,097	-	-
Telecommunication Services	6,324	6,324	-	-
Money Market Funds	196,917	196,917	-	-
Total Investments in Securities:	$ 2,796,703	$ 2,697,625	$ 71,371	$ 27,707

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $2,360,976,000. Net unrealized appreciation aggregated $435,727,000, of which $545,829,000 related to appreciated investment securities and $110,102,000 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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:

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Equity
Income Fund

August 31, 2015

1.805771.111

EPI-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.8%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 7.3%
Automobiles - 0.8%
General Motors Co.	556,900		$ 16,395
Hotels, Restaurants & Leisure - 1.4%
Dunkin' Brands Group, Inc.	94,300		4,730
McDonald's Corp.	183,317		17,419
Yum! Brands, Inc.	98,321		7,843
			29,992
Household Durables - 0.5%
M.D.C. Holdings, Inc.	185,600		5,288
Tupperware Brands Corp. (f)	112,200		5,748
			11,036
Leisure Products - 0.8%
Mattel, Inc. (f)	422,600		9,902
New Academy Holding Co. LLC unit (a)(j)(k)	52,800		7,913
			17,815
Media - 1.3%
Comcast Corp. Class A	481,074		27,099
Multiline Retail - 1.7%
Kohl's Corp.	76,048		3,881
Macy's, Inc.	165,500		9,700
Target Corp.	312,155		24,258
			37,839
Specialty Retail - 0.8%
Foot Locker, Inc. (i)	108,700		7,695
GNC Holdings, Inc.	167,000		7,816
Stage Stores, Inc. (f)	242,700		2,607
			18,118
TOTAL CONSUMER DISCRETIONARY			158,294
CONSUMER STAPLES - 8.9%
Beverages - 1.0%
Anheuser-Busch InBev SA NV ADR	53,000		5,772
Molson Coors Brewing Co. Class B	167,305		11,392
The Coca-Cola Co.	112,700		4,431
			21,595
Food & Staples Retailing - 3.0%
CVS Health Corp.	319,100		32,676
Tesco PLC	747,300		2,169
Wal-Mart Stores, Inc.	265,150		17,163
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food & Staples Retailing - continued
Walgreens Boots Alliance, Inc. (i)	98,744		$ 8,546
Whole Foods Market, Inc.	91,200		2,988
			63,542
Food Products - 1.1%
B&G Foods, Inc. Class A	111,554		3,390
Sanderson Farms, Inc. (f)	35,200		2,430
The Hershey Co.	196,900		17,626
			23,446
Household Products - 2.8%
Procter & Gamble Co.	861,017		60,848
Personal Products - 0.2%
Avon Products, Inc. (f)	919,800		4,774
Tobacco - 0.8%
Philip Morris International, Inc. (i)	156,912		12,522
Reynolds American, Inc. (i)	51,891		4,346
			16,868
TOTAL CONSUMER STAPLES			191,073
ENERGY - 10.9%
Energy Equipment & Services - 0.7%
Ensco PLC Class A	230,124		4,168
National Oilwell Varco, Inc.	87,349		3,697
Oceaneering International, Inc.	61,100		2,677
Schlumberger Ltd.	57,300		4,433
			14,975
Oil, Gas & Consumable Fuels - 10.2%
Anadarko Petroleum Corp.	205,745		14,727
Apache Corp.	283,327		12,818
Avance Gas Holding Ltd. (f)	132,277		1,823
BG Group PLC	601,300		9,126
BW LPG Ltd.	267,478		1,720
Cameco Corp.	123,900		1,743
Chevron Corp.	807,369		65,389
CONSOL Energy, Inc. (f)	320,375		4,879
Foresight Energy LP	161,400		1,353
Golar LNG Ltd.	42,000		1,635
Kinder Morgan, Inc.	345,300		11,191
Legacy Reserves LP	505,299		3,289
Common Stocks - continued
	Shares		Value (000s)
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Markwest Energy Partners LP	257,891		$ 14,537
Noble Energy, Inc.	202,600		6,769
Suncor Energy, Inc.	785,900		22,258
The Williams Companies, Inc. (i)	588,750		28,378
Williams Partners LP	453,127		18,057
WPX Energy, Inc. (a)	89,067		651
			220,343
TOTAL ENERGY			235,318
FINANCIALS - 25.5%
Banks - 12.7%
Bank of America Corp.	1,241,300		20,283
BB&T Corp.	49,400		1,824
Comerica, Inc.	230,380		10,137
First Niagara Financial Group, Inc.	767,600		7,100
FirstMerit Corp.	395,240		7,099
JPMorgan Chase & Co. (i)	1,391,657		89,205
KeyCorp	533,000		7,323
Lloyds Banking Group PLC	1,703,700		2,008
M&T Bank Corp.	241,817		28,592
Regions Financial Corp.	1,356,600		13,010
Standard Chartered PLC (United Kingdom)	446,342		5,240
SunTrust Banks, Inc.	367,400		14,832
U.S. Bancorp (i)	748,500		31,699
Wells Fargo & Co. (i)	650,850		34,710
			273,062
Capital Markets - 5.7%
Apollo Investment Corp. (f)	860,457		5,602
Ares Capital Corp.	487,642		7,690
Ares Management LP	203,499		3,510
Greenhill & Co., Inc.	16,693		586
KKR & Co. LP	1,665,196		31,789
Morgan Stanley	224,942		7,749
Pershing Square Holdings Ltd. (a)	43,289		1,112
State Street Corp.	321,999		23,158
The Blackstone Group LP (i)	1,118,203		38,298
TPG Specialty Lending, Inc.	156,400		2,731
			122,225
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Insurance - 4.8%
ACE Ltd. (i)	208,611		$ 21,312
Allied World Assur Co. Holdings AG	20,421		816
MetLife, Inc.	714,957		35,819
Prudential Financial, Inc.	142,998		11,540
The Chubb Corp.	210,467		25,427
The Travelers Companies, Inc.	87,449		8,706
			103,620
Real Estate Investment Trusts - 2.1%
American Capital Agency Corp.	342,980		6,561
Annaly Capital Management, Inc.	591,094		5,946
Care Capital Properties, Inc.	15,273		486
Coresite Realty Corp.	44,420		2,163
Cousins Properties, Inc.	359,700		3,298
Duke Realty LP	315,500		5,698
First Potomac Realty Trust	496,777		5,221
Piedmont Office Realty Trust, Inc. Class A (f)	272,135		4,615
Retail Properties America, Inc.	265,297		3,621
Sabra Health Care REIT, Inc.	70,700		1,695
Two Harbors Investment Corp.	339,041		3,207
Ventas, Inc.	61,094		3,361
			45,872
Thrifts & Mortgage Finance - 0.2%
Radian Group, Inc.	239,290		4,302
TOTAL FINANCIALS			549,081
HEALTH CARE - 9.6%
Biotechnology - 0.5%
Amgen, Inc. (i)	64,049		9,721
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.	140,400		5,398
DENTSPLY International, Inc.	81,300		4,261
Medtronic PLC (i)	364,482		26,348
St. Jude Medical, Inc. (i)	66,462		4,706
			40,713
Health Care Providers & Services - 0.0%
Anthem, Inc.	44		6
Pharmaceuticals - 7.2%
AbbVie, Inc.	134,500		8,394
GlaxoSmithKline PLC	914,000		18,662
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Pharmaceuticals - continued
Johnson & Johnson	1,119,718		$ 105,236
Pfizer, Inc. (i)	396,113		12,763
Sanofi SA	73,234		7,203
Teva Pharmaceutical Industries Ltd. sponsored ADR	60,000		3,865
			156,123
TOTAL HEALTH CARE			206,563
INDUSTRIALS - 11.6%
Aerospace & Defense - 1.8%
The Boeing Co.	122,300		15,982
United Technologies Corp.	248,007		22,720
			38,702
Air Freight & Logistics - 3.1%
C.H. Robinson Worldwide, Inc.	89,979		6,067
PostNL NV (a)	1,871,900		7,073
United Parcel Service, Inc. Class B	541,090		52,837
			65,977
Airlines - 0.2%
Copa Holdings SA Class A	80,500		4,127
Commercial Services & Supplies - 0.5%
KAR Auction Services, Inc.	215,104		7,967
Republic Services, Inc.	60,089		2,462
			10,429
Electrical Equipment - 1.2%
Eaton Corp. PLC	203,500		11,612
Emerson Electric Co.	312,370		14,906
			26,518
Industrial Conglomerates - 4.1%
General Electric Co.	3,555,433		88,246
Machinery - 0.6%
Cummins, Inc.	31,200		3,799
Deere & Co.	112,700		9,217
			13,016
Professional Services - 0.1%
Acacia Research Corp. (f)	254,660		2,424
TOTAL INDUSTRIALS			249,439
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - 11.6%
Communications Equipment - 2.9%
Cisco Systems, Inc.	1,451,153		$ 37,556
QUALCOMM, Inc.	441,089		24,957
			62,513
Electronic Equipment & Components - 0.4%
Hitachi Ltd.	536,000		3,005
TE Connectivity Ltd.	98,930		5,866
			8,871
Internet Software & Services - 0.4%
Yahoo!, Inc. (a)	257,000		8,286
IT Services - 2.5%
IBM Corp.	255,823		37,834
Paychex, Inc. (i)	366,578		16,371
			54,205
Semiconductors & Semiconductor Equipment - 1.6%
Applied Materials, Inc.	668,577		10,754
Broadcom Corp. Class A	282,729		14,609
Maxim Integrated Products, Inc.	288,600		9,717
			35,080
Software - 1.1%
Microsoft Corp.	546,738		23,794
Technology Hardware, Storage & Peripherals - 2.7%
EMC Corp.	1,412,500		35,129
First Data Holdings, Inc. Class B (a)(k)	2,464,780		12,176
Hewlett-Packard Co.	173,100		4,857
Seagate Technology LLC	103,600		5,325
			57,487
TOTAL INFORMATION TECHNOLOGY			250,236
MATERIALS - 1.6%
Chemicals - 0.7%
LyondellBasell Industries NV Class A	67,300		5,746
Potash Corp. of Saskatchewan, Inc.	291,100		7,581
Syngenta AG sponsored ADR	4,500		312
Tronox Ltd. Class A	174,965		1,408
			15,047
Common Stocks - continued
	Shares		Value (000s)
MATERIALS - continued
Containers & Packaging - 0.5%
Packaging Corp. of America	92,600		$ 6,214
WestRock Co.	76,400		4,534
			10,748
Metals & Mining - 0.4%
Freeport-McMoRan, Inc.	309,614		3,294
Nucor Corp.	103,100		4,463
			7,757
TOTAL MATERIALS			33,552
TELECOMMUNICATION SERVICES - 4.0%
Diversified Telecommunication Services - 3.4%
AT&T, Inc.	874,027		29,018
TDC A/S	845,000		5,347
Verizon Communications, Inc.	838,690		38,588
			72,953
Wireless Telecommunication Services - 0.6%
KDDI Corp.	76,000		1,886
Vodafone Group PLC	3,272,382		11,268
			13,154
TOTAL TELECOMMUNICATION SERVICES			86,107
UTILITIES - 4.8%
Electric Utilities - 4.4%
American Electric Power Co., Inc.	210,515		11,429
Entergy Corp.	118,500		7,742
Exelon Corp.	907,700		27,921
NextEra Energy, Inc.	40,086		3,945
PPL Corp.	647,800		20,075
Southern Co.	493,925		21,441
Xcel Energy, Inc.	100,900		3,403
			95,956
Independent Power and Renewable Electricity Producers - 0.1%
NRG Yield, Inc. Class C	85,300		1,370
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - continued
Multi-Utilities - 0.3%
CenterPoint Energy, Inc.	299,400		$ 5,575
TOTAL UTILITIES			102,901
TOTAL COMMON STOCKS (Cost $1,966,304)		2,062,564
Preferred Stocks - 0.3%

Convertible Preferred Stocks - 0.2%
HEALTH CARE - 0.1%
Pharmaceuticals - 0.1%
Allergan PLC 5.50%	1,200		1,232
TELECOMMUNICATION SERVICES - 0.1%
Wireless Telecommunication Services - 0.1%
T-Mobile U.S., Inc. Series A 5.50%	18,100		1,249
UTILITIES - 0.0%
Independent Power and Renewable Electricity Producers - 0.0%
Dynegy, Inc. 5.375%	11,000		1,029
TOTAL CONVERTIBLE PREFERRED STOCKS			3,510
Nonconvertible Preferred Stocks - 0.1%
FINANCIALS - 0.1%
Consumer Finance - 0.1%
Ally Financial, Inc. 7.00% (g)	2,265		2,290
TOTAL PREFERRED STOCKS (Cost $5,015)		5,800

Corporate Bonds - 0.8%
		Principal Amount (000s) (e)		Value (000s)
Convertible Bonds - 0.5%
CONSUMER DISCRETIONARY - 0.1%
Automobiles - 0.1%
Volkswagen International Finance NV 5.5% 11/9/15 (g)	EUR	2,400		$ 2,752
ENERGY - 0.2%
Oil, Gas & Consumable Fuels - 0.2%
Amyris, Inc. 3% 2/27/17		516		461
Clean Energy Fuels Corp. 5.25% 10/1/18 (g)		370		257
Scorpio Tankers, Inc. 2.375% 7/1/19 (g)		3,060		3,150
				3,868
INFORMATION TECHNOLOGY - 0.2%
Communications Equipment - 0.1%
InterDigital, Inc. 1.5% 3/1/20 (g)		2,820		2,709
Internet Software & Services - 0.1%
Twitter, Inc. 1% 9/15/21 (g)		1,300		1,107
Semiconductors & Semiconductor Equipment - 0.0%
GT Advanced Technologies, Inc.:
3% 10/1/17 (d)		1,510		378
3% 12/15/20 (d)		2,160		540
				918
TOTAL INFORMATION TECHNOLOGY				4,734
TOTAL CONVERTIBLE BONDS				11,354
Nonconvertible Bonds - 0.3%
CONSUMER DISCRETIONARY - 0.1%
Media - 0.1%
Altice SA 7.625% 2/15/25 (g)		1,505		1,430
CONSUMER STAPLES - 0.2%
Food Products - 0.1%
H.J. Heinz Co. 4.875% 2/15/25 (g)		963		1,039
Post Holdings, Inc. 7.375% 2/15/22		1,330		1,363
				2,402
Corporate Bonds - continued
		Principal Amount (000s) (e)		Value (000s)
Nonconvertible Bonds - continued
CONSUMER STAPLES - continued
Tobacco - 0.1%
Vector Group Ltd. 7.75% 2/15/21		$ 1,350		$ 1,436
TOTAL CONSUMER STAPLES				3,838
MATERIALS - 0.0%
Metals & Mining - 0.0%
Walter Energy, Inc. 8.5% 4/15/21 (d)		2,030		10
TOTAL NONCONVERTIBLE BONDS				5,278
TOTAL CORPORATE BONDS (Cost $22,563)			16,632
Preferred Securities - 0.0%

FINANCIALS - 0.0%
Diversified Financial Services - 0.0%
Baggot Securities Ltd. 10.24% (g)(h) (Cost $1,520)	EUR	990		1,194

Money Market Funds - 3.8%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	60,667,889		60,668
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	22,569,631		22,570
TOTAL MONEY MARKET FUNDS (Cost $83,238)		83,238
TOTAL INVESTMENT PORTFOLIO - 100.7% (Cost $2,078,640)			2,169,428
NET OTHER ASSETS (LIABILITIES) - (0.7)%			(16,144)
NET ASSETS - 100%		$ 2,153,284

Written Options
	Expiration Date/Exercise Price	Number of Contracts	Premium (000s)	Value (000s)
Call Options
ACE Ltd.	11/20/15 - $115.00	1,003	$ 133	$ (50)
Amgen, Inc.	10/16/15 - $185.00	242	77	(2)
Foot Locker, Inc.	9/18/15 - $75.00	987	121	(32)
JPMorgan Chase & Co.	11/20/15 - $70.00	3,735	604	(303)
JPMorgan Chase & Co.	11/20/15 - $67.50	3,674	433	(556)
Medtronic PLC	11/20/15 - $82.50	918	80	(24)
Paychex, Inc.	12/18/15 - $50.00	1,853	152	(56)
Pfizer, Inc.	10/16/15 - $38.00	1,020	19	(4)
Philip Morris International, Inc.	12/18/15 - $90.00	794	72	(27)
Reynolds American, Inc.	11/20/15 - $46.25	124	14	(10)
St. Jude Medical, Inc.	10/16/15 - $75.00	332	39	(45)
The Blackstone Group LP	9/18/15 - $45.00	1,157	70	(5)
The Williams Companies, Inc.	11/20/15 - $52.50	992	123	(310)
U.S. Bancorp	11/20/15 - $44.00	3,765	231	(377)
Walgreens Boots Alliance, Inc.	10/16/15 - $100.00	493	54	(10)
Wells Fargo & Co.	10/16/15 - $60.00	2,217	109	(28)
Wells Fargo & Co.	11/20/15 - $55.00	1,645	166	(243)
TOTAL WRITTEN OPTIONS			$ 2,497	$ (2,082)

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

(d) Non-income producing - Security is in default.

(e) Amount is stated in United States dollars unless otherwise noted.

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

(g) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $15,928,000 or 0.7% of net assets.

(h) Security is perpetual in nature with no stated maturity date.

(i) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $145,874,000.

(j) Investment is owned by an entity that is treated as a U.S. Corporation for tax purposes in which the Fund holds a percentage ownership.

(k) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $20,089,000 or 0.9% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
First Data Holdings, Inc. Class B	6/26/14	$ 9,859
New Academy Holding Co. LLC unit	8/1/11	$ 5,565

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 105
Fidelity Securities Lending Cash Central Fund	118
Total	$ 223

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 158,294	$ 150,381	$ -	$ 7,913
Consumer Staples	191,073	188,904	2,169	-
Energy	235,318	226,192	9,126	-
Financials	551,371	547,073	4,298	-
Health Care	207,795	181,930	25,865	-
Industrials	249,439	249,439	-	-
Information Technology	250,236	235,055	3,005	12,176
Materials	33,552	33,552	-	-
Telecommunication Services	87,356	74,202	13,154	-
Utilities	103,930	103,930	-	-
Corporate Bonds	16,632	-	16,632	-
Preferred Securities	1,194	-	1,194	-
Money Market Funds	83,238	83,238	-	-
Total Investments in Securities:	$ 2,169,428	$ 2,073,896	$ 75,443	$ 20,089
Derivative Instruments:
Liabilities
Written Options	$ (2,082)	$ (2,082)	$ -	$ -

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $2,089,111,000. Net unrealized appreciation aggregated $80,317,000, of which $265,788,000 related to appreciated investment securities and $185,471,000 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds and preferred securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Equity Value Fund

August 31, 2015

1.805757.111

AEV-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.3%
	Shares		Value
CONSUMER DISCRETIONARY - 10.5%
Auto Components - 0.5%
Hyundai Mobis	4,160		$ 726,350
Automobiles - 0.7%
Harley-Davidson, Inc.	18,700		1,048,135
Diversified Consumer Services - 0.2%
Steiner Leisure Ltd. (a)	6,132		390,424
Leisure Products - 0.9%
Mattel, Inc. (d)	55,000		1,288,650
Media - 3.7%
Corus Entertainment, Inc. Class B (non-vtg.) (d)	48,700		528,978
John Wiley & Sons, Inc. Class A	19,515		1,006,193
Starz Series A (a)	46,200		1,737,582
Viacom, Inc. Class B (non-vtg.)	54,500		2,221,965
			5,494,718
Multiline Retail - 0.9%
Macy's, Inc.	22,547		1,321,480
Specialty Retail - 2.5%
AutoZone, Inc. (a)	2,015		1,442,720
Bed Bath & Beyond, Inc. (a)	17,900		1,111,769
GNC Holdings, Inc.	26,200		1,226,160
			3,780,649
Textiles, Apparel & Luxury Goods - 1.1%
Coach, Inc.	25,865		782,416
Michael Kors Holdings Ltd. (a)	18,300		795,318
			1,577,734
TOTAL CONSUMER DISCRETIONARY			15,628,140
CONSUMER STAPLES - 4.5%
Beverages - 0.6%
C&C Group PLC	232,281		925,322
Food & Staples Retailing - 2.2%
Tesco PLC	254,000		737,217
Wal-Mart Stores, Inc.	40,000		2,589,200
			3,326,417
Food Products - 1.2%
Seaboard Corp. (a)	200		664,048
The J.M. Smucker Co.	8,779		1,033,464
			1,697,512
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Tobacco - 0.5%
British American Tobacco PLC sponsored ADR	7,155		$ 758,287
TOTAL CONSUMER STAPLES			6,707,538
ENERGY - 8.1%
Energy Equipment & Services - 0.8%
BW Offshore Ltd.	1,326,000		496,911
National Oilwell Varco, Inc.	14,600		618,018
			1,114,929
Oil, Gas & Consumable Fuels - 7.3%
Chevron Corp.	42,897		3,474,228
Exxon Mobil Corp.	28,272		2,127,185
Marathon Petroleum Corp.	25,400		1,201,674
Phillips 66 Co.	15,700		1,241,399
Suncor Energy, Inc.	81,900		2,319,545
Woodside Petroleum Ltd.	22,580		518,388
			10,882,419
TOTAL ENERGY			11,997,348
FINANCIALS - 28.6%
Banks - 11.2%
JPMorgan Chase & Co.	97,652		6,259,493
Regions Financial Corp.	110,500		1,059,695
SunTrust Banks, Inc.	29,500		1,190,915
U.S. Bancorp	71,166		3,013,880
Wells Fargo & Co.	94,632		5,046,725
			16,570,708
Capital Markets - 2.1%
Fortress Investment Group LLC	210,800		1,222,640
GP Investments Ltd. Class A (depositary receipt) (a)	208,800		359,836
The Blackstone Group LP	46,200		1,582,350
			3,164,826
Consumer Finance - 3.0%
American Express Co.	10,100		774,872
Capital One Financial Corp.	29,318		2,279,475
Discover Financial Services	26,100		1,402,353
			4,456,700
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - 2.9%
Berkshire Hathaway, Inc. Class B (a)	32,369		$ 4,338,741
Insurance - 5.5%
ACE Ltd.	14,700		1,501,752
Allied World Assurance Co. Holdings AG	23,900		954,566
Allstate Corp.	22,900		1,334,612
FNF Group	31,780		1,157,110
FNFV Group (a)	41,292		597,495
Prudential PLC	34,419		742,843
The Travelers Companies, Inc.	17,987		1,790,606
			8,078,984
Real Estate Investment Trusts - 3.9%
American Capital Agency Corp.	98,801		1,890,063
Annaly Capital Management, Inc.	203,805		2,050,278
MFA Financial, Inc.	262,536		1,866,631
			5,806,972
TOTAL FINANCIALS			42,416,931
HEALTH CARE - 11.7%
Biotechnology - 1.2%
Amgen, Inc.	11,900		1,806,182
Health Care Providers & Services - 2.4%
Express Scripts Holding Co. (a)	22,199		1,855,836
Laboratory Corp. of America Holdings (a)	14,700		1,731,807
			3,587,643
Pharmaceuticals - 8.1%
GlaxoSmithKline PLC sponsored ADR	27,124		1,110,185
Johnson & Johnson	51,792		4,867,412
Sanofi SA sponsored ADR	48,900		2,392,188
Teva Pharmaceutical Industries Ltd. sponsored ADR	56,832		3,660,549
			12,030,334
TOTAL HEALTH CARE			17,424,159
INDUSTRIALS - 7.4%
Aerospace & Defense - 1.2%
United Technologies Corp.	19,400		1,777,234
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - 1.1%
Babcock & Wilcox Enterprises, Inc. (a)	22,750		$ 419,738
BWX Technologies, Inc.	45,500		1,206,660
			1,626,398
Industrial Conglomerates - 2.9%
General Electric Co.	172,500		4,281,450
Machinery - 2.1%
Deere & Co.	30,110		2,462,396
Valmont Industries, Inc.	6,500		690,885
			3,153,281
Professional Services - 0.1%
VSE Corp.	2,200		91,036
TOTAL INDUSTRIALS			10,929,399
INFORMATION TECHNOLOGY - 16.5%
Communications Equipment - 3.3%
Cisco Systems, Inc.	99,282		2,569,418
Harris Corp.	29,900		2,296,918
			4,866,336
Electronic Equipment & Components - 1.2%
Keysight Technologies, Inc. (a)	27,100		868,284
TE Connectivity Ltd.	15,298		907,018
			1,775,302
Internet Software & Services - 1.5%
Google, Inc. Class A (a)	3,500		2,267,370
IT Services - 2.3%
IBM Corp.	13,540		2,002,431
The Western Union Co.	72,800		1,342,432
			3,344,863
Software - 4.4%
Microsoft Corp.	56,100		2,441,472
Oracle Corp.	109,687		4,068,291
			6,509,763
Technology Hardware, Storage & Peripherals - 3.8%
Apple, Inc.	7,500		845,700
EMC Corp.	70,000		1,740,900
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Technology Hardware, Storage & Peripherals - continued
Hewlett-Packard Co.	51,439		$ 1,443,378
Samsung Electronics Co. Ltd.	1,774		1,633,482
			5,663,460
TOTAL INFORMATION TECHNOLOGY			24,427,094
MATERIALS - 2.8%
Chemicals - 2.3%
Agrium, Inc.	14,900		1,547,194
CF Industries Holdings, Inc.	33,275		1,909,320
			3,456,514
Paper & Forest Products - 0.5%
Schweitzer-Mauduit International, Inc.	19,700		696,001
TOTAL MATERIALS			4,152,515
UTILITIES - 3.2%
Electric Utilities - 3.2%
American Electric Power Co., Inc.	21,300		1,156,377
Edison International	10,893		637,023
Exelon Corp.	62,700		1,928,652
Xcel Energy, Inc.	30,100		1,015,273
			4,737,325
TOTAL COMMON STOCKS (Cost $140,278,975)		138,420,449

U.S. Treasury Obligations - 0.2%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.05% 11/27/15 (e) (Cost $259,968)	$ 260,000	259,999

Money Market Funds - 7.6%
	Shares		Value
Fidelity Cash Central Fund, 0.15% (b)	9,403,184		$ 9,403,184
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	1,819,875		1,819,875
TOTAL MONEY MARKET FUNDS (Cost $11,223,059)		11,223,059
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $151,762,002)			149,903,507
NET OTHER ASSETS (LIABILITIES) - (1.1)%			(1,622,223)
NET ASSETS - 100%		$ 148,281,284

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
93 ICE Russell 1000 Value Index Contracts (United States)	Sept. 2015	$ 8,824,770	$ 13,536

The face value of futures purchased as a percentage of net assets is 6%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $259,999.

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	$ 9,839
Fidelity Securities Lending Cash Central Fund	7,898
Total	$ 17,737

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table 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	$ 15,628,140	$ 15,628,140	$ -	$ -
Consumer Staples	6,707,538	5,970,321	737,217	-
Energy	11,997,348	11,997,348	-	-
Financials	42,416,931	41,674,088	742,843	-
Health Care	17,424,159	17,424,159	-	-
Industrials	10,929,399	10,929,399	-	-
Information Technology	24,427,094	24,427,094	-	-
Materials	4,152,515	4,152,515	-	-
Utilities	4,737,325	4,737,325	-	-
U.S. Government and Government Agency Obligations	259,999	-	259,999	-
Money Market Funds	11,223,059	11,223,059	-	-
Total Investments in Securities:	$ 149,903,507	$ 148,163,448	$ 1,740,059	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 13,536	$ 13,536	$ -	$ -

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $152,083,818. Net unrealized depreciation aggregated $2,180,311, of which $10,296,902 related to appreciated investment securities and $12,477,213 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

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, 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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report
for
Fidelity Advisor® Growth &
Income Fund

August 31, 2015

1.805763.111

AGAI-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 9.5%
Automobiles - 0.1%
Harley-Davidson, Inc.	14,100		$ 790
Diversified Consumer Services - 0.4%
H&R Block, Inc.	56,126		1,909
Hotels, Restaurants & Leisure - 1.0%
Las Vegas Sands Corp.	31,700		1,465
Yum! Brands, Inc.	47,061		3,754
			5,219
Household Durables - 0.2%
Tupperware Brands Corp.	20,900		1,071
Leisure Products - 0.1%
Mattel, Inc.	28,500		668
Media - 4.3%
Comcast Corp. Class A (special) (non-vtg.)	173,629		9,939
Scripps Networks Interactive, Inc. Class A (e)	35,672		1,894
Sinclair Broadcast Group, Inc. Class A (e)	65,327		1,749
Time Warner, Inc.	88,518		6,294
Viacom, Inc. Class B (non-vtg.)	72,600		2,960
			22,836
Multiline Retail - 2.2%
Dillard's, Inc. Class A	3,300		305
Target Corp.	148,799		11,563
			11,868
Specialty Retail - 1.2%
Lowe's Companies, Inc.	89,557		6,195
TOTAL CONSUMER DISCRETIONARY			50,556
CONSUMER STAPLES - 8.3%
Beverages - 2.9%
Diageo PLC	109,814		2,910
Molson Coors Brewing Co. Class B	8,600		586
PepsiCo, Inc.	31,743		2,950
SABMiller PLC	25,700		1,204
The Coca-Cola Co.	199,084		7,828
			15,478
Food & Staples Retailing - 1.1%
CVS Health Corp.	38,951		3,989
Walgreens Boots Alliance, Inc.	22,882		1,980
			5,969
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food Products - 0.1%
The J.M. Smucker Co.	2,100		$ 247
Household Products - 2.0%
Procter & Gamble Co.	150,335		10,624
Tobacco - 2.2%
British American Tobacco PLC sponsored ADR	36,876		3,908
Imperial Tobacco Group PLC	17,502		848
Philip Morris International, Inc.	70,238		5,605
Reynolds American, Inc.	17,600		1,474
			11,835
TOTAL CONSUMER STAPLES			44,153
ENERGY - 9.3%
Energy Equipment & Services - 1.3%
Baker Hughes, Inc.	7,700		431
Ensco PLC Class A	122,641		2,221
National Oilwell Varco, Inc.	14,600		618
Oceaneering International, Inc.	49,900		2,187
Schlumberger Ltd.	20,934		1,620
			7,077
Oil, Gas & Consumable Fuels - 8.0%
Apache Corp.	78,141		3,535
Cenovus Energy, Inc.	34,300		497
Chevron Corp.	124,863		10,113
ConocoPhillips Co.	56,800		2,792
EQT Midstream Partners LP	10,600		825
Foresight Energy LP	14,800		124
Golar LNG Ltd.	43,000		1,674
Imperial Oil Ltd.	112,900		3,986
Kinder Morgan, Inc.	62,500		2,026
Legacy Reserves LP	89,800		585
Markwest Energy Partners LP	62,305		3,512
PrairieSky Royalty Ltd. (e)	42,100		882
Suncor Energy, Inc.	285,490		8,086
The Williams Companies, Inc.	63,231		3,048
Williams Partners LP	24,220		965
			42,650
TOTAL ENERGY			49,727
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - 22.1%
Banks - 14.9%
Bank of America Corp.	862,042		$ 14,086
Citigroup, Inc.	273,322		14,617
Comerica, Inc.	28,900		1,272
Commerce Bancshares, Inc.	17,300		775
Fifth Third Bancorp	65,700		1,309
First Republic Bank	4,800		289
JPMorgan Chase & Co.	364,543		23,370
Lloyds Banking Group PLC	240,500		283
M&T Bank Corp.	14,500		1,714
PNC Financial Services Group, Inc.	33,816		3,081
Regions Financial Corp.	228,800		2,194
Standard Chartered PLC (United Kingdom)	148,142		1,739
SunTrust Banks, Inc.	126,335		5,100
U.S. Bancorp	137,230		5,812
UMB Financial Corp.	13,300		667
Wells Fargo & Co.	55,850		2,978
			79,286
Capital Markets - 5.1%
Charles Schwab Corp.	100,013		3,038
Invesco Ltd.	7,900		269
KKR & Co. LP	158,013		3,016
Morgan Stanley	117,830		4,059
Northern Trust Corp.	54,540		3,809
Oaktree Capital Group LLC Class A	20,100		1,065
State Street Corp.	123,070		8,851
The Blackstone Group LP	56,700		1,942
TPG Specialty Lending, Inc.	61,801		1,079
			27,128
Insurance - 1.4%
ACE Ltd.	3,700		378
Marsh & McLennan Companies, Inc.	22,766		1,223
MetLife, Inc.	84,005		4,209
Principal Financial Group, Inc.	38,700		1,949
			7,759
Real Estate Investment Trusts - 0.4%
American Tower Corp.	6,400		590
First Potomac Realty Trust	13,272		139
Sabra Health Care REIT, Inc.	17,100		410
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Real Estate Investment Trusts - continued
Ventas, Inc.	10,800		$ 594
WP Carey, Inc.	9,500		546
			2,279
Thrifts & Mortgage Finance - 0.3%
Radian Group, Inc.	83,790		1,507
TOTAL FINANCIALS			117,959
HEALTH CARE - 10.2%
Biotechnology - 1.7%
Amgen, Inc.	33,992		5,159
Biogen, Inc. (a)	10,300		3,062
Intercept Pharmaceuticals, Inc. (a)	3,500		664
			8,885
Health Care Equipment & Supplies - 1.5%
Abbott Laboratories	32,426		1,469
Ansell Ltd.	20,366		321
Medtronic PLC	37,942		2,743
St. Jude Medical, Inc.	11,100		786
Zimmer Biomet Holdings, Inc.	24,390		2,526
			7,845
Health Care Providers & Services - 1.6%
Cardinal Health, Inc.	12,500		1,028
Express Scripts Holding Co. (a)	18,400		1,538
McKesson Corp.	24,033		4,748
Patterson Companies, Inc.	28,600		1,311
			8,625
Life Sciences Tools & Services - 0.1%
Agilent Technologies, Inc.	22,600		821
Pharmaceuticals - 5.3%
AbbVie, Inc.	13,600		849
Astellas Pharma, Inc.	57,700		853
GlaxoSmithKline PLC sponsored ADR	165,609		6,778
Johnson & Johnson	105,001		9,868
Novartis AG sponsored ADR	14,201		1,381
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Pharmaceuticals - continued
Teva Pharmaceutical Industries Ltd. sponsored ADR	116,074		$ 7,476
Theravance, Inc. (e)	66,200		921
			28,126
TOTAL HEALTH CARE			54,302
INDUSTRIALS - 12.4%
Aerospace & Defense - 2.2%
Meggitt PLC	214,209		1,569
Rolls-Royce Group PLC	12,000		137
The Boeing Co.	51,394		6,716
United Technologies Corp.	34,231		3,136
			11,558
Air Freight & Logistics - 1.7%
C.H. Robinson Worldwide, Inc.	4,400		297
PostNL NV (a)	351,100		1,327
United Parcel Service, Inc. Class B	77,679		7,585
			9,209
Airlines - 0.2%
Copa Holdings SA Class A	20,800		1,066
Building Products - 0.2%
Lennox International, Inc.	8,400		992
Commercial Services & Supplies - 0.7%
ADT Corp. (e)	73,283		2,402
KAR Auction Services, Inc.	37,600		1,393
			3,795
Electrical Equipment - 0.7%
Emerson Electric Co.	41,600		1,985
Hubbell, Inc. Class B	19,212		1,896
			3,881
Industrial Conglomerates - 3.5%
General Electric Co.	743,493		18,453
Machinery - 0.7%
Deere & Co.	17,700		1,448
Donaldson Co., Inc.	17,900		560
IMI PLC	30,900		492
Joy Global, Inc. (e)	12,100		293
Pentair PLC	9,000		498
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Machinery - continued
Valmont Industries, Inc.	3,400		$ 361
Xylem, Inc.	5,400		175
			3,827
Professional Services - 0.0%
Acacia Research Corp.	32,364		308
Road & Rail - 2.0%
CSX Corp.	156,233		4,278
J.B. Hunt Transport Services, Inc.	42,920		3,124
Kansas City Southern	15,805		1,466
Norfolk Southern Corp.	19,708		1,535
Union Pacific Corp.	600		51
			10,454
Trading Companies & Distributors - 0.5%
W.W. Grainger, Inc. (e)	1,400		313
Watsco, Inc.	18,264		2,237
			2,550
TOTAL INDUSTRIALS			66,093
INFORMATION TECHNOLOGY - 21.9%
Communications Equipment - 3.0%
Cisco Systems, Inc.	286,571		7,416
QUALCOMM, Inc.	157,113		8,889
			16,305
Internet Software & Services - 3.5%
Google, Inc.:
Class A (a)	14,158		9,172
Class C	12,453		7,699
Yahoo!, Inc. (a)	50,492		1,628
			18,499
IT Services - 5.9%
Cognizant Technology Solutions Corp. Class A (a)	28,920		1,820
Fidelity National Information Services, Inc.	17,638		1,218
IBM Corp.	41,700		6,167
Leidos Holdings, Inc.	4,100		173
MasterCard, Inc. Class A	70,090		6,474
Paychex, Inc.	135,309		6,043
The Western Union Co.	68,461		1,262
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
IT Services - continued
Unisys Corp. (a)	68,100		$ 897
Visa, Inc. Class A	104,640		7,461
			31,515
Semiconductors & Semiconductor Equipment - 0.7%
Analog Devices, Inc.	14,300		799
Broadcom Corp. Class A	21,436		1,108
Marvell Technology Group Ltd.	73,600		829
Maxim Integrated Products, Inc.	33,400		1,125
			3,861
Software - 3.6%
Microsoft Corp.	353,273		15,374
Oracle Corp.	100,684		3,734
			19,108
Technology Hardware, Storage & Peripherals - 5.2%
Apple, Inc.	164,678		18,569
EMC Corp.	224,400		5,581
First Data Holdings, Inc. Class B (a)(h)	400,570		1,979
Hewlett-Packard Co.	17,200		483
Western Digital Corp.	12,500		1,025
			27,637
TOTAL INFORMATION TECHNOLOGY			116,925
MATERIALS - 3.4%
Chemicals - 2.9%
Airgas, Inc.	28,752		2,775
E.I. du Pont de Nemours & Co.	25,731		1,325
Eastman Chemical Co.	2,200		159
LyondellBasell Industries NV Class A	7,800		666
Monsanto Co.	57,301		5,595
Potash Corp. of Saskatchewan, Inc.	65,400		1,703
Syngenta AG (Switzerland)	8,418		2,822
The Chemours Co. LLC	7,446		72
Tronox Ltd. Class A	27,951		225
			15,342
Containers & Packaging - 0.2%
Packaging Corp. of America	7,400		497
WestRock Co.	13,000		772
			1,269
Common Stocks - continued
	Shares		Value (000s)
MATERIALS - continued
Metals & Mining - 0.2%
Freeport-McMoRan, Inc.	104,700		$ 1,114
Paper & Forest Products - 0.1%
Domtar Corp.	5,400		217
International Paper Co.	3,600		155
			372
TOTAL MATERIALS			18,097
TELECOMMUNICATION SERVICES - 1.3%
Diversified Telecommunication Services - 1.3%
Verizon Communications, Inc.	153,609		7,068
UTILITIES - 0.2%
Electric Utilities - 0.2%
PPL Corp.	12,100		375
Southern Co.	10,600		460
			835
TOTAL COMMON STOCKS (Cost $445,716)		525,715
Convertible Preferred Stocks - 0.9%

CONSUMER DISCRETIONARY - 0.0%
Leisure Products - 0.0%
NJOY, Inc. Series D (a)(h)	5,350		3
HEALTH CARE - 0.9%
Health Care Equipment & Supplies - 0.9%
Alere, Inc. 3.00%	14,454		4,987
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $4,099)		4,990

Convertible Bonds - 0.3%
		Principal Amount (000s) (d)
CONSUMER DISCRETIONARY - 0.1%
Automobiles - 0.1%
Tesla Motors, Inc. 1.25% 3/1/21		$ 270		254
Convertible Bonds - continued
		Principal Amount (000s) (d)		Value (000s)
ENERGY - 0.1%
Oil, Gas & Consumable Fuels - 0.1%
Amyris, Inc. 3% 2/27/17		$ 772		$ 689
Peabody Energy Corp. 4.75% 12/15/41		590		86
				775
INFORMATION TECHNOLOGY - 0.1%
Internet Software & Services - 0.1%
Twitter, Inc. 0.25% 9/15/19 (f)		790		684
TOTAL CONVERTIBLE BONDS (Cost $2,156)			1,713
Preferred Securities - 0.1%

FINANCIALS - 0.1%
Diversified Financial Services - 0.1%
Baggot Securities Ltd. 10.24% (f)(g) (Cost $353)	EUR	230		277

Money Market Funds - 1.2%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	340,475		340
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	6,137,569		6,138
TOTAL MONEY MARKET FUNDS (Cost $6,478)		6,478
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $458,802)			539,173
NET OTHER ASSETS (LIABILITIES) - (1.1)%			(5,700)
NET ASSETS - 100%		$ 533,473

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

(d) Amount is stated in United States dollars unless otherwise noted.

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

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $961,000 or 0.2% of net assets.

(g) Security is perpetual in nature with no stated maturity date.

(h) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $1,981,000 or 0.4% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
First Data Holdings, Inc. Class B	6/26/14	$ 1,602
NJOY, Inc. Series D	2/14/14	$ 91

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 (Amount in thousands)
Fidelity Cash Central Fund	$ 1
Fidelity Securities Lending Cash Central Fund	55
Total	$ 56

Other Information

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 50,559	$ 50,556	$ -	$ 3
Consumer Staples	44,153	41,243	2,910	-
Energy	49,727	49,727	-	-
Financials	117,959	117,676	283	-
Health Care	59,289	58,436	853	-
Industrials	66,093	66,093	-	-
Information Technology	116,925	114,946	-	1,979
Materials	18,097	15,275	2,822	-
Telecommunication Services	7,068	7,068	-	-
Utilities	835	835	-	-
Corporate Bonds	1,713	-	1,713	-
Preferred Securities	277	-	277	-
Money Market Funds	6,478	6,478	-	-
Total Investments in Securities:	$ 539,173	$ 528,333	$ 8,858	$ 1,982

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $462,003,000. Net unrealized appreciation aggregated $77,170,000, of which $112,202,000 related to appreciated investment securities and $35,032,000 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds and preferred securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Growth
Opportunities Fund

August 31, 2015

1.805740.111

GO-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 14.9%
Auto Components - 0.4%
Tenneco, Inc. (a)	297,000		$ 13,974
Automobiles - 0.8%
Mahindra & Mahindra Ltd. (a)	270,754		4,983
Tesla Motors, Inc. (a)(d)	83,600		20,821
			25,804
Hotels, Restaurants & Leisure - 2.4%
Buffalo Wild Wings, Inc. (a)	44,400		8,422
Chipotle Mexican Grill, Inc. (a)	26,900		19,099
Dunkin' Brands Group, Inc. (d)	174,300		8,743
Las Vegas Sands Corp.	126,292		5,838
Panera Bread Co. Class A (a)	8,400		1,498
Starbucks Corp.	624,900		34,188
Starwood Hotels & Resorts Worldwide, Inc.	57,700		4,124
			81,912
Household Durables - 0.1%
Lennar Corp. Class A	76,800		3,909
Internet & Catalog Retail - 2.4%
Amazon.com, Inc. (a)	128,300		65,804
Priceline Group, Inc. (a)	12,800		15,983
			81,787
Media - 4.2%
AMC Networks, Inc. Class A (a)	151,900		10,995
Comcast Corp. Class A	954,200		53,750
IMAX Corp. (a)	239,600		7,511
Liberty LiLAC Group:
Class A (a)	342,300		16,471
Class A (a)	7,930		273
Lions Gate Entertainment Corp.	227,400		8,343
The Walt Disney Co.	393,700		40,110
Twenty-First Century Fox, Inc. Class A	10,500		288
Zee Entertainment Enterprises Ltd.	721,462		4,185
			141,926
Multiline Retail - 0.3%
Dollar General Corp.	101,200		7,538
Target Corp.	39,300		3,054
			10,592
Specialty Retail - 1.4%
CarMax, Inc. (a)	197,700		12,060
DSW, Inc. Class A	1,500		45
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
GNC Holdings, Inc.	79,900		$ 3,739
Home Depot, Inc.	147,300		17,155
TJX Companies, Inc.	212,900		14,971
			47,970
Textiles, Apparel & Luxury Goods - 2.9%
Deckers Outdoor Corp. (a)	87,500		5,634
lululemon athletica, Inc. (a)(d)	501,616		32,108
Michael Kors Holdings Ltd. (a)	250,500		10,887
NIKE, Inc. Class B	173,200		19,355
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)	150,800		21,224
Under Armour, Inc. Class A (sub. vtg.) (a)	91,700		8,760
			97,968
TOTAL CONSUMER DISCRETIONARY			505,842
CONSUMER STAPLES - 6.8%
Beverages - 1.8%
Monster Beverage Corp. (a)	134,900		18,678
PepsiCo, Inc.	160,900		14,952
SABMiller PLC	89,300		4,185
The Coca-Cola Co.	604,300		23,761
			61,576
Food & Staples Retailing - 2.4%
Costco Wholesale Corp.	235,900		33,038
CVS Health Corp.	262,000		26,829
Walgreens Boots Alliance, Inc.	185,700		16,072
Whole Foods Market, Inc.	109,400		3,584
			79,523
Food Products - 1.1%
Keurig Green Mountain, Inc.	414,200		23,444
Mead Johnson Nutrition Co. Class A	97,100		7,607
Mondelez International, Inc.	117,800		4,990
			36,041
Household Products - 0.6%
Procter & Gamble Co.	194,200		13,724
Svenska Cellulosa AB (SCA) (B Shares)	248,400		7,083
			20,807
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Personal Products - 0.1%
Avon Products, Inc. (d)	100,242		$ 520
Herbalife Ltd. (a)	68,300		3,932
			4,452
Tobacco - 0.8%
Altria Group, Inc.	492,500		26,388
Philip Morris International, Inc.	19,250		1,536
			27,924
TOTAL CONSUMER STAPLES			230,323
ENERGY - 2.1%
Energy Equipment & Services - 0.7%
FMC Technologies, Inc. (a)	90,340		3,142
Halliburton Co.	111,600		4,391
National Oilwell Varco, Inc.	79,188		3,352
Oceaneering International, Inc.	35,768		1,567
Schlumberger Ltd.	160,900		12,449
			24,901
Oil, Gas & Consumable Fuels - 1.4%
Anadarko Petroleum Corp.	74,000		5,297
Cabot Oil & Gas Corp.	209,100		4,949
Chesapeake Energy Corp. (d)	159,764		1,248
Continental Resources, Inc. (a)	142,200		4,565
EOG Resources, Inc.	38,800		3,038
Golar LNG Ltd.	28,700		1,118
Hess Corp.	117,200		6,968
Noble Energy, Inc.	99,400		3,321
Occidental Petroleum Corp.	156,900		11,455
PDC Energy, Inc. (a)	67,900		3,815
Range Resources Corp.	3,700		143
Southwestern Energy Co. (a)	82,100		1,333
			47,250
TOTAL ENERGY			72,151
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - 4.3%
Banks - 1.4%
HDFC Bank Ltd. sponsored ADR	240,100		$ 13,683
JPMorgan Chase & Co.	521,500		33,428
			47,111
Capital Markets - 0.5%
BlackRock, Inc. Class A	9,900		2,994
Charles Schwab Corp.	421,500		12,805
Goldman Sachs Group, Inc.	41		8
T. Rowe Price Group, Inc.	29,300		2,106
			17,913
Consumer Finance - 0.4%
American Express Co.	55,900		4,289
Discover Financial Services	192,033		10,318
			14,607
Diversified Financial Services - 0.1%
BM&F BOVESPA SA	722,258		2,147
Real Estate Investment Trusts - 1.9%
American Tower Corp.	682,200		62,892
TOTAL FINANCIALS			144,670
HEALTH CARE - 18.8%
Biotechnology - 12.5%
ACADIA Pharmaceuticals, Inc. (a)(d)	194,600		7,128
Agios Pharmaceuticals, Inc. (a)	75,400		6,515
Alexion Pharmaceuticals, Inc. (a)	143,200		24,658
Alkermes PLC (a)	695,400		41,418
Alnylam Pharmaceuticals, Inc. (a)	226,100		23,268
Amgen, Inc.	210,600		31,965
Amicus Therapeutics, Inc. (a)	413,800		5,950
Asterias Biotherapeutics, Inc. (a)(d)	50,950		242
aTyr Pharma, Inc.	124,876		1,627
Avalanche Biotechnologies, Inc. (a)	19,500		204
Baxalta, Inc.	37,600		1,322
Biogen, Inc. (a)	76,600		22,773
BioMarin Pharmaceutical, Inc. (a)	121,900		15,754
BioTime, Inc. warrants 10/1/18 (a)	62,345		48
bluebird bio, Inc. (a)	121,800		16,208
Celgene Corp. (a)	104,170		12,300
Celldex Therapeutics, Inc. (a)	203,400		3,018
Clovis Oncology, Inc. (a)	40,100		3,122
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Biotechnology - continued
Esperion Therapeutics, Inc. (a)	77,500		$ 3,716
Exelixis, Inc. (a)(d)	11		0
Gilead Sciences, Inc.	435,900		45,800
Global Blood Therapeutics, Inc.	6,600		327
Immunomedics, Inc. (a)(d)	1,020,787		2,205
Insmed, Inc. (a)	311,800		7,620
Intercept Pharmaceuticals, Inc. (a)	8,535		1,620
Ironwood Pharmaceuticals, Inc. Class A (a)	214,500		2,360
Isis Pharmaceuticals, Inc. (a)(d)	774,253		38,852
Lexicon Pharmaceuticals, Inc. (a)	114,596		1,368
Merrimack Pharmaceuticals, Inc. (a)	437,800		4,417
Ophthotech Corp. (a)	70,500		3,104
Prothena Corp. PLC (a)	123,802		7,122
Regeneron Pharmaceuticals, Inc. (a)	101,800		52,274
Regulus Therapeutics, Inc. (a)(d)	318,000		2,649
Rigel Pharmaceuticals, Inc. (a)	667,248		2,002
Seattle Genetics, Inc. (a)(d)	440,967		17,758
Seres Therapeutics, Inc.	21,900		905
Spark Therapeutics, Inc. (d)	3,500		153
Transition Therapeutics, Inc. (a)(d)	761,897		1,645
uniQure B.V. (a)	4,600		123
Vertex Pharmaceuticals, Inc. (a)	64,790		8,262
XOMA Corp. (a)(d)	1,084,759		901
			422,703
Health Care Equipment & Supplies - 0.6%
Abiomed, Inc. (a)	57,300		5,495
Baxter International, Inc.	37,600		1,446
Stryker Corp.	37,000		3,650
Zeltiq Aesthetics, Inc. (a)	256,300		8,271
			18,862
Health Care Providers & Services - 2.1%
Express Scripts Holding Co. (a)	117,967		9,862
McKesson Corp.	250,100		49,415
Teladoc, Inc. (a)	8,600		221
UnitedHealth Group, Inc.	100,700		11,651
			71,149
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Health Care Technology - 0.3%
athenahealth, Inc. (a)(d)	86,100		$ 11,449
Castlight Health, Inc. Class B (a)	116,700		617
			12,066
Life Sciences Tools & Services - 0.3%
Illumina, Inc. (a)	48,200		9,525
Pharmaceuticals - 3.0%
AbbVie, Inc.	528,800		33,002
AcelRx Pharmaceuticals, Inc. (a)(d)	714,917		3,060
Allergan PLC (a)	59,090		17,948
Cempra, Inc. (a)	71,331		2,454
Endo Health Solutions, Inc. (a)	88,500		6,815
Intra-Cellular Therapies, Inc. (a)	36,700		983
Mylan N.V.	73,500		3,645
Teva Pharmaceutical Industries Ltd. sponsored ADR	526,600		33,918
			101,825
TOTAL HEALTH CARE			636,130
INDUSTRIALS - 6.5%
Aerospace & Defense - 0.6%
Honeywell International, Inc.	118,600		11,773
The Boeing Co.	72,600		9,487
			21,260
Air Freight & Logistics - 0.5%
FedEx Corp.	33,900		5,106
United Parcel Service, Inc. Class B	109,900		10,732
			15,838
Airlines - 2.0%
American Airlines Group, Inc.	188,500		7,348
Delta Air Lines, Inc.	118,000		5,166
Southwest Airlines Co.	496,300		18,214
Spirit Airlines, Inc. (a)	288,400		14,781
United Continental Holdings, Inc. (a)	368,300		20,982
			66,491
Building Products - 0.0%
Caesarstone Sdot-Yam Ltd.	36,100		1,436
Electrical Equipment - 0.1%
Acuity Brands, Inc.	17,200		3,352
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Industrial Conglomerates - 0.9%
3M Co.	65,200		$ 9,268
Danaher Corp.	231,600		20,154
			29,422
Machinery - 0.3%
Caterpillar, Inc.	68,000		5,198
Cummins, Inc.	27,700		3,372
			8,570
Professional Services - 0.4%
TriNet Group, Inc. (a)	875,500		14,743
Road & Rail - 1.6%
CSX Corp.	85,100		2,330
Genesee & Wyoming, Inc. Class A (a)	77,000		5,265
Hertz Global Holdings, Inc. (a)	135,400		2,495
J.B. Hunt Transport Services, Inc.	103,100		7,504
Kansas City Southern	71,900		6,668
Union Pacific Corp.	366,900		31,458
			55,720
Trading Companies & Distributors - 0.1%
HD Supply Holdings, Inc. (a)	103,800		3,425
TOTAL INDUSTRIALS			220,257
INFORMATION TECHNOLOGY - 43.0%
Communications Equipment - 1.0%
Infinera Corp. (a)	910,981		19,878
QUALCOMM, Inc.	270,465		15,303
			35,181
Electronic Equipment & Components - 0.4%
IPG Photonics Corp. (a)(d)	94,000		7,935
Trimble Navigation Ltd. (a)	378,500		7,154
			15,089
Internet Software & Services - 12.3%
Akamai Technologies, Inc. (a)	174,300		12,429
Alibaba Group Holding Ltd. sponsored ADR (d)	539,300		35,659
eBay, Inc. (a)	141,900		3,847
Endurance International Group Holdings, Inc. (a)(d)	2,699,500		41,275
Facebook, Inc. Class A (a)	791,641		70,796
GoDaddy, Inc. (a)(d)	1,293,900		32,451
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Internet Software & Services - continued
Google, Inc.:
Class A (a)	152,165		$ 98,576
Class C	154,575		95,566
LinkedIn Corp. Class A (a)	17,800		3,215
Qihoo 360 Technology Co. Ltd. ADR (a)	73,500		3,886
Rackspace Hosting, Inc. (a)	93,102		2,831
Twitter, Inc. (a)	49,600		1,378
Wix.com Ltd. (a)	717,835		14,177
			416,086
IT Services - 7.5%
Alliance Data Systems Corp. (a)	104,100		26,773
Cognizant Technology Solutions Corp. Class A (a)	835,292		52,573
EPAM Systems, Inc. (a)	236,100		16,671
Fidelity National Information Services, Inc.	244,600		16,892
IBM Corp.	56,100		8,297
MasterCard, Inc. Class A	480,300		44,365
PayPal Holdings, Inc. (a)	121,900		4,267
Sabre Corp.	673,300		18,327
Virtusa Corp. (a)	14,600		773
Visa, Inc. Class A	896,600		63,928
			252,866
Semiconductors & Semiconductor Equipment - 5.3%
Applied Materials, Inc.	199,300		3,206
Applied Micro Circuits Corp. (a)(d)	1,315,100		7,693
Avago Technologies Ltd.	147,800		18,618
Broadcom Corp. Class A	340,200		17,578
Cavium, Inc. (a)	70,000		4,761
Cree, Inc. (a)(d)	315,200		8,580
Cypress Semiconductor Corp.	1,198,766		11,988
First Solar, Inc. (a)	115,600		5,530
Mellanox Technologies Ltd. (a)	187,300		7,574
Micron Technology, Inc. (a)	126,600		2,078
NVIDIA Corp.	923,030		20,750
Qorvo, Inc. (a)	798,100		44,303
Rambus, Inc. (a)	736,528		9,892
Silicon Laboratories, Inc. (a)	354,600		15,418
Xilinx, Inc.	58,800		2,463
			180,432
Software - 7.1%
Adobe Systems, Inc. (a)	123,700		9,719
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - continued
Citrix Systems, Inc. (a)	34,300		$ 2,336
Fortinet, Inc. (a)	47,600		2,006
Interactive Intelligence Group, Inc. (a)	211,200		7,394
Intuit, Inc.	107,600		9,227
Microsoft Corp.	1,424,000		61,972
NetSuite, Inc. (a)	126,100		11,204
Oracle Corp.	318,900		11,828
Red Hat, Inc. (a)	329,430		23,788
Salesforce.com, Inc. (a)	1,179,100		81,782
ServiceNow, Inc. (a)	130,700		9,274
TiVo, Inc. (a)	253,300		2,305
VMware, Inc. Class A (a)	27,700		2,192
Workday, Inc. Class A (a)	58,700		4,124
			239,151
Technology Hardware, Storage & Peripherals - 9.4%
3D Systems Corp. (a)(d)	35,700		490
Apple, Inc.	2,375,606		267,876
Electronics for Imaging, Inc. (a)	373,400		16,344
Nimble Storage, Inc. (a)(d)	334,200		8,910
SanDisk Corp.	46,400		2,532
Seagate Technology LLC	414,400		21,300
			317,452
TOTAL INFORMATION TECHNOLOGY			1,456,257
MATERIALS - 2.1%
Chemicals - 1.8%
E.I. du Pont de Nemours & Co.	95,800		4,934
LyondellBasell Industries NV Class A	354,500		30,267
Monsanto Co.	248,900		24,305
The Chemours Co. LLC	19,160		185
			59,691
Containers & Packaging - 0.3%
Sealed Air Corp.	209,500		10,779
WestRock Co.	8,251		490
			11,269
TOTAL MATERIALS			70,960
Common Stocks - continued
	Shares		Value (000s)
TELECOMMUNICATION SERVICES - 0.4%
Diversified Telecommunication Services - 0.2%
Verizon Communications, Inc.	168,300		$ 7,743
Wireless Telecommunication Services - 0.2%
T-Mobile U.S., Inc. (a)	183,100		7,253
TOTAL TELECOMMUNICATION SERVICES			14,996
UTILITIES - 0.0%
Independent Power and Renewable Electricity Producers - 0.0%
Ormat Technologies, Inc. (d)	59,200		2,084
TOTAL COMMON STOCKS (Cost $2,320,951)		3,353,670
Convertible Preferred Stocks - 0.7%

CONSUMER STAPLES - 0.2%
Food & Staples Retailing - 0.1%
Blue Apron, Inc. Series D (e)	217,605		2,900
Tobacco - 0.1%
PAX Labs, Inc. Series C (e)	1,069,313		4,117
TOTAL CONSUMER STAPLES			7,017
FINANCIALS - 0.1%
Real Estate Management & Development - 0.1%
Redfin Corp. Series G (e)	1,081,736		3,948
INFORMATION TECHNOLOGY - 0.4%
Internet Software & Services - 0.2%
Uber Technologies, Inc. Series D, 8.00% (a)(e)	221,104		8,765
Software - 0.2%
Cloudera, Inc. Series F (a)(e)	41,786		1,372
MongoDB, Inc. Series F, 8.00% (a)(e)	515,124		4,018
			5,390
TOTAL INFORMATION TECHNOLOGY			14,155
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $23,237)		25,120
Money Market Funds - 4.0%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.15% (b)	3,781,442		$ 3,781
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	130,325,779		130,326
TOTAL MONEY MARKET FUNDS (Cost $134,107)		134,107
TOTAL INVESTMENT PORTFOLIO - 103.6% (Cost $2,478,295)			3,512,897
NET OTHER ASSETS (LIABILITIES) - (3.6)%			(123,608)
NET ASSETS - 100%		$ 3,389,289

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Blue Apron, Inc. Series D	5/18/15	$ 2,900
Cloudera, Inc. Series F	2/5/14	$ 608
MongoDB, Inc. Series F, 8.00%	10/2/13	$ 8,615
PAX Labs, Inc. Series C	5/22/15	$ 4,117
Redfin Corp. Series G	12/16/14	$ 3,567
Uber Technologies, Inc. Series D, 8.00%	6/6/14	$ 3,430

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 22
Fidelity Securities Lending Cash Central Fund	608
Total	$ 630

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 505,842	$ 505,842	$ -	$ -
Consumer Staples	237,340	230,323	-	7,017
Energy	72,151	72,151	-	-
Financials	148,618	144,670	-	3,948
Health Care	636,130	634,503	1,627	-
Industrials	220,257	220,257	-	-
Information Technology	1,470,412	1,456,257	-	14,155
Materials	70,960	70,960	-	-
Telecommunication Services	14,996	14,996	-	-
Utilities	2,084	2,084	-	-
Money Market Funds	134,107	134,107	-	-
Total Investments in Securities:	$ 3,512,897	$ 3,486,150	$ 1,627	$ 25,120

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $2,479,444,000. Net unrealized appreciation aggregated $1,033,453,000, of which $1,200,080,000 related to appreciated investment securities and $166,627,000 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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:

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Large Cap Fund

August 31, 2015

1.805746.111

LC-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.9%
	Shares		Value
CONSUMER DISCRETIONARY - 10.3%
Automobiles - 0.2%
Harley-Davidson, Inc.	24,900		$ 1,395,645
Tesla Motors, Inc. (a)	3,700		921,522
			2,317,167
Diversified Consumer Services - 0.3%
H&R Block, Inc.	111,617		3,797,210
Hotels, Restaurants & Leisure - 1.0%
Las Vegas Sands Corp.	64,600		2,986,458
Yum! Brands, Inc.	119,038		9,495,661
			12,482,119
Household Durables - 0.4%
KB Home	201,800		2,956,370
Taylor Morrison Home Corp. (a)	118,100		2,356,095
			5,312,465
Internet & Catalog Retail - 0.3%
Priceline Group, Inc. (a)	3,300		4,120,512
Leisure Products - 0.0%
NJOY, Inc. (a)(e)	115,947		1
Media - 4.4%
Comcast Corp. Class A (special) (non-vtg.)	385,137		22,045,242
Liberty Global PLC Class A (a)	46,300		2,227,956
Scripps Networks Interactive, Inc. Class A (d)	21,100		1,120,199
Sinclair Broadcast Group, Inc. Class A (d)	153,200		4,102,696
Starz Series A (a)	79,400		2,986,234
Time Warner, Inc.	224,459		15,959,035
Viacom, Inc. Class B (non-vtg.)	206,300		8,410,851
			56,852,213
Multiline Retail - 2.2%
Target Corp.	372,040		28,911,228
Specialty Retail - 1.4%
Lowe's Companies, Inc.	230,779		15,962,983
Lumber Liquidators Holdings, Inc. (a)(d)	129,000		1,949,190
			17,912,173
Textiles, Apparel & Luxury Goods - 0.1%
Michael Kors Holdings Ltd. (a)	32,100		1,395,066
TOTAL CONSUMER DISCRETIONARY			133,100,154
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - 7.1%
Beverages - 2.1%
Diageo PLC	264,811		$ 7,016,685
PepsiCo, Inc.	32,640		3,033,235
SABMiller PLC	49,200		2,305,691
The Coca-Cola Co.	378,275		14,873,773
			27,229,384
Food & Staples Retailing - 1.2%
CVS Health Corp.	72,311		7,404,646
Tesco PLC	236,900		687,585
United Natural Foods, Inc. (a)	42,000		2,022,300
Walgreens Boots Alliance, Inc.	64,255		5,561,270
			15,675,801
Food Products - 0.0%
Amplify Snack Brands, Inc.	30,600		403,308
Keurig Green Mountain, Inc.	1,000		56,600
			459,908
Household Products - 1.7%
Procter & Gamble Co.	309,852		21,897,241
Tobacco - 2.1%
British American Tobacco PLC sponsored ADR	86,631		9,181,153
Philip Morris International, Inc.	166,529		13,289,014
Reynolds American, Inc.	54,400		4,556,000
			27,026,167
TOTAL CONSUMER STAPLES			92,288,501
ENERGY - 9.0%
Energy Equipment & Services - 1.4%
Ensco PLC Class A	335,850		6,082,244
Helmerich & Payne, Inc.	1,900		112,119
National Oilwell Varco, Inc.	63,832		2,702,009
Oceaneering International, Inc.	118,200		5,179,524
Schlumberger Ltd.	52,205		4,039,101
			18,114,997
Oil, Gas & Consumable Fuels - 7.6%
Amyris, Inc. (a)(d)	837,544		1,515,955
Anadarko Petroleum Corp.	25,300		1,810,974
Apache Corp.	242,110		10,953,056
Cabot Oil & Gas Corp.	105,300		2,492,451
Cairn Energy PLC (a)	285,056		663,126
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Chevron Corp.	244,107		$ 19,770,226
Cobalt International Energy, Inc. (a)	389,505		3,119,935
ConocoPhillips Co.	138,400		6,802,360
Golar LNG Ltd.	40,100		1,561,494
Imperial Oil Ltd.	269,700		9,522,321
Kinder Morgan, Inc.	92,600		3,001,166
Legacy Reserves LP	79,400		516,894
Markwest Energy Partners LP	78,900		4,447,593
MEG Energy Corp. (a)	75,900		681,923
Memorial Resource Development Corp. (a)	37,100		720,111
Noble Energy, Inc.	28,800		962,208
SM Energy Co.	24,900		913,830
Suncor Energy, Inc.	734,900		20,813,601
The Williams Companies, Inc.	140,025		6,749,205
Williams Partners LP	40,700		1,621,895
			98,640,324
TOTAL ENERGY			116,755,321
FINANCIALS - 21.9%
Banks - 13.9%
Bank of America Corp.	2,180,300		35,626,102
Citigroup, Inc.	648,197		34,665,576
Comerica, Inc.	87,800		3,863,200
Fifth Third Bancorp	126,400		2,517,888
JPMorgan Chase & Co.	892,373		57,201,110
Lloyds Banking Group PLC	463,200		545,964
PNC Financial Services Group, Inc.	45,385		4,135,481
Regions Financial Corp.	608,800		5,838,392
Standard Chartered PLC (United Kingdom)	372,939		4,377,903
SunTrust Banks, Inc.	305,308		12,325,284
U.S. Bancorp	281,865		11,936,983
Wells Fargo & Co.	148,494		7,919,185
			180,953,068
Capital Markets - 4.9%
Charles Schwab Corp.	272,353		8,274,084
E*TRADE Financial Corp. (a)	119,600		3,144,284
Goldman Sachs Group, Inc.	4,900		924,140
KKR & Co. LP	135,536		2,587,382
Morgan Stanley	400,643		13,802,151
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
Northern Trust Corp.	121,286		$ 8,470,614
State Street Corp.	297,358		21,385,987
The Blackstone Group LP	129,200		4,425,100
			63,013,742
Diversified Financial Services - 0.3%
KKR Renaissance Co-Invest LP unit (a)(e)	29,500		3,352,675
Insurance - 1.8%
American International Group, Inc.	148,707		8,972,980
MetLife, Inc.	203,285		10,184,579
Principal Financial Group, Inc.	82,200		4,138,770
			23,296,329
Thrifts & Mortgage Finance - 1.0%
MGIC Investment Corp. (a)	254,092		2,683,212
Radian Group, Inc.	606,968		10,913,285
			13,596,497
TOTAL FINANCIALS			284,212,311
HEALTH CARE - 12.4%
Biotechnology - 2.5%
Alnylam Pharmaceuticals, Inc. (a)	11,400		1,173,174
Amgen, Inc.	77,047		11,694,194
Biogen, Inc. (a)	27,700		8,235,210
Celldex Therapeutics, Inc. (a)	5,100		75,684
Clovis Oncology, Inc. (a)	22,000		1,712,920
Discovery Laboratories, Inc. (a)	535,529		224,922
Genocea Biosciences, Inc. (a)	18,400		213,992
Insmed, Inc. (a)	45,064		1,101,364
Intercept Pharmaceuticals, Inc. (a)	41,031		7,786,043
Spark Therapeutics, Inc.	15,300		667,233
			32,884,736
Health Care Equipment & Supplies - 3.6%
Abbott Laboratories	75,525		3,420,527
Alere, Inc. (a)	320,068		16,633,934
Boston Scientific Corp. (a)	998,286		16,711,308
Medtronic PLC	37,100		2,681,959
Neovasc, Inc. (a)	35,700		202,062
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
St. Jude Medical, Inc.	44,900		$ 3,179,369
Zimmer Biomet Holdings, Inc.	40,200		4,163,112
			46,992,271
Health Care Providers & Services - 1.8%
Express Scripts Holding Co. (a)	149,710		12,515,756
McKesson Corp.	56,896		11,241,512
			23,757,268
Health Care Technology - 0.0%
Castlight Health, Inc. Class B (a)	34,700		183,563
Life Sciences Tools & Services - 0.1%
Agilent Technologies, Inc.	23,200		842,392
Pharmaceuticals - 4.4%
Allergan PLC (a)	24,429		7,420,064
GlaxoSmithKline PLC sponsored ADR	376,739		15,419,927
Jazz Pharmaceuticals PLC (a)	21,970		3,708,975
Johnson & Johnson	109,363		10,277,935
Novartis AG sponsored ADR	7,211		701,053
Teva Pharmaceutical Industries Ltd. sponsored ADR	244,391		15,741,224
TherapeuticsMD, Inc. (a)	226,900		1,390,897
Theravance, Inc.	115,300		1,603,823
			56,263,898
TOTAL HEALTH CARE			160,924,128
INDUSTRIALS - 11.9%
Aerospace & Defense - 1.4%
KEYW Holding Corp. (a)	135,382		1,137,209
Meggitt PLC	13,914		101,930
The Boeing Co.	89,363		11,677,957
United Technologies Corp.	53,172		4,871,087
			17,788,183
Air Freight & Logistics - 1.9%
FedEx Corp.	42,800		6,446,108
Hub Group, Inc. Class A (a)	111,500		4,202,435
United Parcel Service, Inc. Class B	147,975		14,449,759
			25,098,302
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Building Products - 0.3%
Caesarstone Sdot-Yam Ltd.	12,000		$ 477,480
Lennox International, Inc.	24,100		2,844,764
			3,322,244
Commercial Services & Supplies - 0.5%
ADT Corp. (d)	215,200		7,054,256
Electrical Equipment - 0.9%
AMETEK, Inc.	77,230		4,156,519
Emerson Electric Co.	104,400		4,981,968
Hubbell, Inc. Class B	26,782		2,642,580
			11,781,067
Industrial Conglomerates - 3.4%
Danaher Corp.	15,108		1,314,698
General Electric Co.	1,717,544		42,629,442
			43,944,140
Machinery - 0.9%
Deere & Co.	47,000		3,843,660
Ingersoll-Rand PLC	39,783		2,199,602
Joy Global, Inc. (d)	66,800		1,617,896
Rexnord Corp. (a)	105,000		2,105,250
Valmont Industries, Inc.	17,496		1,859,650
			11,626,058
Professional Services - 0.5%
Acacia Research Corp. (d)	248,937		2,369,880
Verisk Analytics, Inc. (a)	49,000		3,580,920
			5,950,800
Road & Rail - 1.9%
CSX Corp.	393,801		10,782,271
Genesee & Wyoming, Inc. Class A (a)	37,500		2,564,250
J.B. Hunt Transport Services, Inc.	60,900		4,432,302
Kansas City Southern	46,200		4,284,588
Norfolk Southern Corp.	39,858		3,105,337
			25,168,748
Trading Companies & Distributors - 0.2%
HD Supply Holdings, Inc. (a)	99,100		3,270,300
TOTAL INDUSTRIALS			155,004,098
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - 22.7%
Communications Equipment - 3.1%
Cisco Systems, Inc.	719,254		$ 18,614,294
QUALCOMM, Inc.	388,350		21,972,843
			40,587,137
Internet Software & Services - 4.7%
Cornerstone OnDemand, Inc. (a)	20,100		718,374
Facebook, Inc. Class A (a)	22,700		2,030,061
Google, Inc.:
Class A (a)	38,956		25,236,476
Class C	32,337		19,992,350
Twitter, Inc. (a)	197,300		5,482,967
Yahoo!, Inc. (a)	216,334		6,974,608
			60,434,836
IT Services - 5.4%
Cognizant Technology Solutions Corp. Class A (a)	106,984		6,733,573
Fidelity National Information Services, Inc.	39,424		2,722,621
IBM Corp.	94,681		14,002,373
MasterCard, Inc. Class A	185,600		17,143,872
Paychex, Inc.	164,722		7,356,485
The Western Union Co.	60,712		1,119,529
Unisys Corp. (a)	249,962		3,292,000
Visa, Inc. Class A	249,620		17,797,906
			70,168,359
Semiconductors & Semiconductor Equipment - 0.7%
Broadcom Corp. Class A	120,025		6,201,692
Marvell Technology Group Ltd.	215,700		2,430,939
			8,632,631
Software - 3.9%
Adobe Systems, Inc. (a)	53,010		4,164,996
Autodesk, Inc. (a)	63,981		2,991,112
Microsoft Corp.	711,954		30,984,238
Oracle Corp.	245,950		9,122,286
Salesforce.com, Inc. (a)	54,650		3,790,524
			51,053,156
Technology Hardware, Storage & Peripherals - 4.9%
Apple, Inc.	393,821		44,407,256
EMC Corp.	575,500		14,312,685
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Technology Hardware, Storage & Peripherals - continued
First Data Holdings, Inc. Class B (a)(e)	649,981		$ 3,210,906
Western Digital Corp.	27,900		2,286,684
			64,217,531
TOTAL INFORMATION TECHNOLOGY			295,093,650
MATERIALS - 3.2%
Chemicals - 2.5%
Airgas, Inc.	61,437		5,929,899
E.I. du Pont de Nemours & Co.	43,915		2,261,623
Intrepid Potash, Inc. (a)	132,160		1,045,386
LyondellBasell Industries NV Class A	14,800		1,263,624
Monsanto Co.	135,517		13,233,235
Potash Corp. of Saskatchewan, Inc.	134,100		3,492,145
Syngenta AG (Switzerland)	15,834		5,308,521
The Chemours Co. LLC	54,783		529,752
			33,064,185
Containers & Packaging - 0.4%
WestRock Co.	81,389		4,830,437
Metals & Mining - 0.3%
Freeport-McMoRan, Inc.	322,700		3,433,528
TOTAL MATERIALS			41,328,150
TELECOMMUNICATION SERVICES - 1.2%
Diversified Telecommunication Services - 1.2%
Verizon Communications, Inc.	340,594		15,670,730
UTILITIES - 0.2%
Independent Power and Renewable Electricity Producers - 0.2%
Dynegy, Inc. (a)	83,000		2,137,250
TOTAL COMMON STOCKS (Cost $1,177,500,510)		1,296,514,293
Convertible Preferred Stocks - 0.0%
	Shares		Value
CONSUMER DISCRETIONARY - 0.0%
Leisure Products - 0.0%
NJOY, Inc. Series C (a)(e) (Cost $271,645)	33,607		$ 16,679

Convertible Bonds - 0.1%
	Principal Amount
ENERGY - 0.1%
Oil, Gas & Consumable Fuels - 0.1%
Amyris, Inc. 3% 2/27/17 (Cost $605,000)	$ 605,000	540,265

Money Market Funds - 1.4%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	2,631,751		2,631,751
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	15,822,400		15,822,400
TOTAL MONEY MARKET FUNDS (Cost $18,454,151)		18,454,151
TOTAL INVESTMENT PORTFOLIO - 101.4% (Cost $1,196,831,306)			1,315,525,388
NET OTHER ASSETS (LIABILITIES) - (1.4)%			(18,065,886)
NET ASSETS - 100%		$ 1,297,459,502

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
First Data Holdings, Inc. Class B	6/26/14	$ 2,599,924
KKR Renaissance Co-Invest LP unit	7/25/13	$ 3,112,250
NJOY, Inc.	9/11/13 - 10/24/13	$ 936,852
NJOY, Inc. Series C	6/7/13	$ 271,645

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	$ 20,838
Fidelity Securities Lending Cash Central Fund	219,237
Total	$ 240,075

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table 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	$ 133,116,833	$ 133,100,153	$ -	$ 16,680
Consumer Staples	92,288,501	84,584,231	7,704,270	-
Energy	116,755,321	116,755,321	-	-
Financials	284,212,311	280,313,672	545,964	3,352,675
Health Care	160,924,128	160,924,128	-	-
Industrials	155,004,098	155,004,098	-	-
Information Technology	295,093,650	291,882,744	-	3,210,906
Materials	41,328,150	36,019,629	5,308,521	-
Telecommunication Services	15,670,730	15,670,730	-	-
Utilities	2,137,250	2,137,250	-	-
Corporate Bonds	540,265	-	540,265	-
Money Market Funds	18,454,151	18,454,151	-	-
Total Investments in Securities:	$ 1,315,525,388	$ 1,294,846,107	$ 14,099,020	$ 6,580,261

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $1,200,714,648. Net unrealized appreciation aggregated $114,810,740, of which $215,362,466 related to appreciated investment securities and $100,551,726 related to depreciated investment securities.

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Series
Equity Growth

August 31, 2015

1.9860271.101

AXM1-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.5%
	Shares		Value
CONSUMER DISCRETIONARY - 15.5%
Automobiles - 0.9%
Tesla Motors, Inc. (a)	31,900		$ 7,945,014
Diversified Consumer Services - 1.1%
Bright Horizons Family Solutions, Inc. (a)	55,500		3,392,160
Houghton Mifflin Harcourt Co. (a)	73,500		1,659,630
Nord Anglia Education, Inc. (a)	42,221		867,219
ServiceMaster Global Holdings, Inc. (a)	100,800		3,546,144
			9,465,153
Hotels, Restaurants & Leisure - 4.3%
Buffalo Wild Wings, Inc. (a)	11,500		2,181,320
Chipotle Mexican Grill, Inc. (a)	9,200		6,532,092
Domino's Pizza, Inc.	57,700		6,112,738
Starbucks Corp.	362,600		19,837,846
Wingstop, Inc.	3,300		90,288
Yum! Brands, Inc.	32,000		2,552,640
			37,306,924
Household Durables - 0.8%
Harman International Industries, Inc.	44,800		4,378,752
Toll Brothers, Inc. (a)	66,200		2,447,414
			6,826,166
Internet & Catalog Retail - 2.0%
Amazon.com, Inc. (a)	28,100		14,412,209
Netflix, Inc. (a)	19,900		2,289,097
NutriSystem, Inc.	38,600		1,080,028
			17,781,334
Specialty Retail - 4.7%
AutoZone, Inc. (a)	3,500		2,505,965
Five Below, Inc. (a)	105,500		4,079,685
Home Depot, Inc.	161,800		18,843,228
L Brands, Inc.	27,100		2,273,690
Lowe's Companies, Inc.	50,400		3,486,168
MarineMax, Inc. (a)	65,600		1,069,280
Restoration Hardware Holdings, Inc. (a)	1,100		101,728
Ulta Salon, Cosmetics & Fragrance, Inc. (a)	59,067		9,337,902
			41,697,646
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - 1.7%
Kate Spade & Co. (a)	285,500		$ 5,413,080
NIKE, Inc. Class B	86,500		9,666,375
			15,079,455
TOTAL CONSUMER DISCRETIONARY			136,101,692
CONSUMER STAPLES - 4.6%
Beverages - 0.6%
Kweichow Moutai Co. Ltd.	21,780		667,329
The Coca-Cola Co.	105,900		4,163,988
			4,831,317
Food & Staples Retailing - 1.3%
CVS Health Corp.	58,600		6,000,640
Whole Foods Market, Inc.	170,300		5,579,028
			11,579,668
Food Products - 1.0%
Keurig Green Mountain, Inc.	162,800		9,214,480
Household Products - 0.4%
Procter & Gamble Co.	46,800		3,307,356
Personal Products - 1.3%
Estee Lauder Companies, Inc. Class A	33,400		2,664,318
Herbalife Ltd. (a)	148,100		8,526,117
			11,190,435
TOTAL CONSUMER STAPLES			40,123,256
ENERGY - 0.8%
Oil, Gas & Consumable Fuels - 0.8%
Cheniere Energy, Inc. (a)	34,000		2,113,100
Golar LNG Ltd.	117,574		4,578,332
			6,691,432
FINANCIALS - 6.2%
Banks - 0.8%
First Republic Bank	97,700		5,892,287
M&T Bank Corp.	8,000		945,920
			6,838,207
Capital Markets - 3.3%
BlackRock, Inc. Class A	13,100		3,962,357
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
E*TRADE Financial Corp. (a)	265,500		$ 6,979,995
HFF, Inc.	62,800		2,281,524
Invesco Ltd.	97,100		3,312,081
JMP Group, Inc.	50,300		359,645
The Blackstone Group LP	272,200		9,322,850
Virtus Investment Partners, Inc.	25,200		2,899,512
			29,117,964
Diversified Financial Services - 1.1%
Berkshire Hathaway, Inc. Class B (a)	18,600		2,493,144
McGraw Hill Financial, Inc.	77,600		7,526,424
			10,019,568
Real Estate Management & Development - 0.8%
Realogy Holdings Corp. (a)	172,100		6,935,630
Thrifts & Mortgage Finance - 0.2%
Essent Group Ltd. (a)	72,000		1,928,880
TOTAL FINANCIALS			54,840,249
HEALTH CARE - 16.5%
Biotechnology - 10.2%
Amgen, Inc.	65,900		10,002,302
BioMarin Pharmaceutical, Inc. (a)	50,400		6,513,696
Celgene Corp. (a)	50,400		5,951,232
Gilead Sciences, Inc.	433,400		45,537,338
Insmed, Inc. (a)	247,875		6,058,065
Medivation, Inc. (a)	54,700		4,816,882
Ophthotech Corp. (a)	42,200		1,858,066
Vertex Pharmaceuticals, Inc. (a)	72,300		9,219,696
			89,957,277
Health Care Equipment & Supplies - 0.6%
Medtronic PLC	43,700		3,159,073
Novadaq Technologies, Inc. (a)	181,100		2,091,705
			5,250,778
Health Care Providers & Services - 0.6%
Express Scripts Holding Co. (a)	59,700		4,990,920
Pharmaceuticals - 5.1%
Astellas Pharma, Inc.	957,000		14,154,484
Shire PLC	99,000		7,656,412
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Teva Pharmaceutical Industries Ltd. sponsored ADR	166,500		$ 10,724,265
Valeant Pharmaceuticals International, Inc. (Canada) (a)	54,600		12,657,688
			45,192,849
TOTAL HEALTH CARE			145,391,824
INDUSTRIALS - 10.6%
Aerospace & Defense - 2.3%
Textron, Inc.	106,600		4,136,080
TransDigm Group, Inc. (a)	55,100		12,663,633
United Technologies Corp.	38,300		3,508,663
			20,308,376
Air Freight & Logistics - 0.6%
United Parcel Service, Inc. Class B	56,200		5,487,930
Airlines - 0.7%
Ryanair Holdings PLC sponsored ADR	83,900		6,120,505
Building Products - 1.0%
A.O. Smith Corp.	82,383		5,314,527
Caesarstone Sdot-Yam Ltd.	84,100		3,346,339
			8,660,866
Electrical Equipment - 0.5%
Acuity Brands, Inc.	2,400		467,688
AMETEK, Inc.	66,600		3,584,412
			4,052,100
Industrial Conglomerates - 2.8%
Danaher Corp.	210,500		18,317,710
Roper Industries, Inc.	39,800		6,451,182
			24,768,892
Machinery - 0.0%
Sarine Technologies Ltd.	86,400		85,417
Professional Services - 2.1%
CEB, Inc.	39,700		2,843,314
Equifax, Inc.	15,400		1,507,660
On Assignment, Inc. (a)	7,853		282,551
Resources Connection, Inc.	97,425		1,528,598
Robert Half International, Inc.	88,400		4,511,052
Verisk Analytics, Inc. (a)	35,900		2,623,572
WageWorks, Inc. (a)	123,500		5,534,035
			18,830,782
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Trading Companies & Distributors - 0.6%
HD Supply Holdings, Inc. (a)	140,900		$ 4,649,700
Summit Ascent Holdings Ltd. (a)	1,840,000		776,356
			5,426,056
TOTAL INDUSTRIALS			93,740,924
INFORMATION TECHNOLOGY - 37.7%
Electronic Equipment & Components - 0.2%
TE Connectivity Ltd.	29,386		1,742,296
Internet Software & Services - 19.4%
58.com, Inc. ADR (a)	30,500		1,386,530
Alibaba Group Holding Ltd. sponsored ADR (d)	131,300		8,681,556
Cvent, Inc. (a)	124,600		3,929,884
Facebook, Inc. Class A (a)	1,042,100		93,195,003
Google, Inc.:
Class A (a)	72,300		46,837,386
Class C	13,112		8,106,494
Just Dial Ltd.	43,239		550,446
JUST EAT Ltd. (a)	235,622		1,424,916
Shopify, Inc. Class A	1,200		33,484
Textura Corp. (a)(d)	182,814		4,727,570
Zillow Group, Inc. (a)(d)	21,400		543,132
Zillow Group, Inc. (a)(d)	42,800		1,055,448
			170,471,849
IT Services - 2.8%
Cognizant Technology Solutions Corp. Class A (a)	93,200		5,866,008
Global Payments, Inc.	11,700		1,303,263
MasterCard, Inc. Class A	25,500		2,355,435
Visa, Inc. Class A	210,000		14,973,000
			24,497,706
Semiconductors & Semiconductor Equipment - 0.5%
Maxim Integrated Products, Inc.	52,414		1,764,779
Monolithic Power Systems, Inc.	53,648		2,579,932
			4,344,711
Software - 10.0%
Activision Blizzard, Inc.	91,500		2,619,645
Adobe Systems, Inc. (a)	135,000		10,606,950
Computer Modelling Group Ltd.	195,200		1,816,090
CyberArk Software Ltd. (a)(d)	40,100		2,047,105
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Electronic Arts, Inc. (a)	239,700		$ 15,856,155
Fleetmatics Group PLC (a)	88,400		3,956,784
HubSpot, Inc.	19,100		903,239
Intuit, Inc.	27,200		2,332,400
Mobileye NV (a)(d)	135,500		7,663,880
Red Hat, Inc. (a)	87,700		6,332,817
Salesforce.com, Inc. (a)	305,300		21,175,608
ServiceNow, Inc. (a)	67,700		4,803,992
SolarWinds, Inc. (a)	158,485		6,299,779
SS&C Technologies Holdings, Inc.	25,200		1,707,048
			88,121,492
Technology Hardware, Storage & Peripherals - 4.8%
Apple, Inc.	334,700		37,740,772
Nimble Storage, Inc. (a)	171,900		4,582,854
			42,323,626
TOTAL INFORMATION TECHNOLOGY			331,501,680
MATERIALS - 0.4%
Chemicals - 0.4%
CF Industries Holdings, Inc.	61,000		3,500,180
TELECOMMUNICATION SERVICES - 0.2%
Wireless Telecommunication Services - 0.2%
SBA Communications Corp. Class A (a)	16,800		1,985,760
TOTAL COMMON STOCKS (Cost $730,458,571)		813,876,997
Convertible Preferred Stocks - 0.1%

INFORMATION TECHNOLOGY - 0.1%
IT Services - 0.1%
AppNexus, Inc. Series E (a)(e) (Cost $769,617)	38,419		959,707
Money Market Funds - 6.5%
	Shares		Value
Fidelity Cash Central Fund, 0.15% (b)	37,365,456		$ 37,365,456
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	20,111,425		20,111,425
TOTAL MONEY MARKET FUNDS (Cost $57,476,881)		57,476,881
TOTAL INVESTMENT PORTFOLIO - 99.1% (Cost $788,705,069)			872,313,585
NET OTHER ASSETS (LIABILITIES) - 0.9%			7,495,347
NET ASSETS - 100%		$ 879,808,932

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
AppNexus, Inc. Series E	8/1/14	$ 769,617

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	$ 22,017
Fidelity Securities Lending Cash Central Fund	55,790
Total	$ 77,807

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table 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	$ 136,101,692	$ 136,101,692	$ -	$ -
Consumer Staples	40,123,256	40,123,256	-	-
Energy	6,691,432	6,691,432	-	-
Financials	54,840,249	54,840,249	-	-
Health Care	145,391,824	123,580,928	21,810,896	-
Industrials	93,740,924	93,740,924	-	-
Information Technology	332,461,387	331,501,680	-	959,707
Materials	3,500,180	3,500,180	-	-
Telecommunication Services	1,985,760	1,985,760	-	-
Money Market Funds	57,476,881	57,476,881	-	-
Total Investments in Securities:	$ 872,313,585	$ 849,542,982	$ 21,810,896	$ 959,707

Transfers	Total
Level 1 to Level 2	$ 8,959,539
Level 2 to Level 1	$ 0

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $789,550,518. Net unrealized appreciation aggregated $82,763,067, of which $120,630,125 related to appreciated investment securities and $37,867,058 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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:

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Series Growth
Opportunities Fund

August 31, 2015

1.967936.101

AXS3-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%
	Shares		Value
CONSUMER DISCRETIONARY - 14.4%
Auto Components - 0.4%
Tenneco, Inc. (a)	71,800		$ 3,378,190
Automobiles - 0.6%
Tesla Motors, Inc. (a)	17,700		4,408,362
Hotels, Restaurants & Leisure - 2.1%
Buffalo Wild Wings, Inc. (a)	12,300		2,333,064
Chipotle Mexican Grill, Inc. (a)	6,000		4,260,060
Chuy's Holdings, Inc. (a)	1,200		36,768
Las Vegas Sands Corp.	30,800		1,423,884
McDonald's Corp.	500		47,510
Panera Bread Co. Class A (a)	1,900		338,770
Starbucks Corp.	139,000		7,604,690
Starwood Hotels & Resorts Worldwide, Inc.	13,800		986,286
			17,031,032
Household Durables - 0.0%
Lennar Corp. Class A	5,000		254,500
Internet & Catalog Retail - 2.5%
Amazon.com, Inc. (a)	32,000		16,412,480
Priceline Group, Inc. (a)	2,900		3,621,056
			20,033,536
Media - 4.0%
AMC Networks, Inc. Class A (a)	27,900		2,019,402
Comcast Corp. Class A	234,600		13,215,018
IMAX Corp. (a)	61,500		1,928,025
Liberty LiLAC Group:
Class A (a)	81,700		3,931,404
Class A (a)	1,900		65,303
Lions Gate Entertainment Corp.	57,400		2,106,006
The Walt Disney Co.	84,400		8,598,672
Twenty-First Century Fox, Inc. Class A	2,500		68,475
			31,932,305
Multiline Retail - 0.2%
Dollar General Corp.	21,900		1,631,331
Target Corp.	3,900		303,069
			1,934,400
Specialty Retail - 1.4%
Bed Bath & Beyond, Inc. (a)	12,500		776,375
CarMax, Inc. (a)	47,300		2,885,300
DSW, Inc. Class A	300		8,907
GNC Holdings, Inc.	20,400		954,720
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
Home Depot, Inc.	27,600		$ 3,214,296
TJX Companies, Inc.	50,700		3,565,224
			11,404,822
Textiles, Apparel & Luxury Goods - 3.2%
Deckers Outdoor Corp. (a)	29,800		1,918,822
Fossil Group, Inc. (a)	2,500		153,950
Kate Spade & Co. (a)	9,300		176,328
lululemon athletica, Inc. (a)	138,000		8,833,380
Michael Kors Holdings Ltd. (a)	48,400		2,103,464
NIKE, Inc. Class B	39,600		4,425,300
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)	41,500		5,840,710
Under Armour, Inc. Class A (sub. vtg.) (a)	21,700		2,073,001
			25,524,955
TOTAL CONSUMER DISCRETIONARY			115,902,102
CONSUMER STAPLES - 6.9%
Beverages - 1.7%
Monster Beverage Corp. (a)	31,200		4,319,952
PepsiCo, Inc.	40,000		3,717,200
The Coca-Cola Co.	143,600		5,646,352
			13,683,504
Food & Staples Retailing - 2.3%
Costco Wholesale Corp.	55,700		7,800,785
CVS Health Corp.	64,800		6,635,520
Walgreens Boots Alliance, Inc.	40,200		3,479,310
Whole Foods Market, Inc.	24,100		789,516
			18,705,131
Food Products - 1.0%
Keurig Green Mountain, Inc.	95,100		5,382,660
Mead Johnson Nutrition Co. Class A	22,500		1,762,650
Mondelez International, Inc.	29,000		1,228,440
			8,373,750
Household Products - 0.7%
Procter & Gamble Co.	56,400		3,985,788
Svenska Cellulosa AB (SCA) (B Shares)	57,000		1,625,301
			5,611,089
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Personal Products - 0.3%
Avon Products, Inc.	27,400		$ 142,206
Herbalife Ltd. (a)	38,900		2,239,473
			2,381,679
Tobacco - 0.9%
Altria Group, Inc.	122,200		6,547,476
Philip Morris International, Inc.	4,300		343,140
			6,890,616
TOTAL CONSUMER STAPLES			55,645,769
ENERGY - 2.2%
Energy Equipment & Services - 0.7%
FMC Technologies, Inc. (a)	23,200		806,896
Halliburton Co.	26,900		1,058,515
National Oilwell Varco, Inc.	19,900		842,367
Oceaneering International, Inc.	8,498		372,382
Schlumberger Ltd.	37,700		2,916,849
			5,997,009
Oil, Gas & Consumable Fuels - 1.5%
Anadarko Petroleum Corp.	16,500		1,181,070
Cabot Oil & Gas Corp.	61,200		1,448,604
Chesapeake Energy Corp. (d)	34,000		265,540
Continental Resources, Inc. (a)	34,600		1,110,660
EOG Resources, Inc.	10,200		798,762
Exxon Mobil Corp.	200		15,048
Hess Corp.	28,600		1,700,270
Noble Energy, Inc.	24,900		831,909
Occidental Petroleum Corp.	44,900		3,278,149
PDC Energy, Inc. (a)	16,500		926,970
Range Resources Corp.	3,900		150,618
Southwestern Energy Co. (a)	19,300		313,432
			12,021,032
TOTAL ENERGY			18,018,041
FINANCIALS - 4.4%
Banks - 1.4%
HDFC Bank Ltd. sponsored ADR	57,000		3,248,430
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Banks - continued
JPMorgan Chase & Co.	106,100		$ 6,801,010
Wells Fargo & Co.	28,900		1,541,237
			11,590,677
Capital Markets - 0.7%
BlackRock, Inc. Class A	5,300		1,603,091
Charles Schwab Corp.	121,200		3,682,056
T. Rowe Price Group, Inc.	7,200		517,536
			5,802,683
Consumer Finance - 0.4%
American Express Co.	12,700		974,344
Discover Financial Services	36,800		1,977,264
			2,951,608
Diversified Financial Services - 0.1%
BM&F BOVESPA SA	191,200		568,331
Real Estate Investment Trusts - 1.8%
American Tower Corp.	159,900		14,741,181
TOTAL FINANCIALS			35,654,480
HEALTH CARE - 19.0%
Biotechnology - 11.5%
ACADIA Pharmaceuticals, Inc. (a)	49,135		1,799,815
Agios Pharmaceuticals, Inc. (a)	5,100		440,640
Alexion Pharmaceuticals, Inc. (a)	32,300		5,561,737
Alkermes PLC (a)	32,561		1,939,333
Alnylam Pharmaceuticals, Inc. (a)	52,677		5,420,990
Amgen, Inc.	50,900		7,725,602
Amicus Therapeutics, Inc. (a)	103,800		1,492,644
Asterias Biotherapeutics, Inc. (a)(d)	21,395		101,412
Avalanche Biotechnologies, Inc. (a)	6,900		72,174
Baxalta, Inc.	9,500		333,925
Biogen, Inc. (a)	16,800		4,994,640
BioMarin Pharmaceutical, Inc. (a)	41,600		5,376,384
BioTime, Inc. warrants 10/1/18 (a)	26,180		20,159
bluebird bio, Inc. (a)	31,500		4,191,705
Celgene Corp. (a)	24,600		2,904,768
Celldex Therapeutics, Inc. (a)	56,400		836,976
Cepheid, Inc. (a)	5,500		268,070
Clovis Oncology, Inc. (a)	10,200		794,172
Esperion Therapeutics, Inc. (a)	1,000		47,950
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Exelixis, Inc. (a)	5,379		$ 32,005
Geron Corp. (a)	11,400		34,542
Gilead Sciences, Inc.	106,200		11,158,434
Global Blood Therapeutics, Inc.	1,600		79,184
ImmunoGen, Inc. (a)	6,600		88,836
Insmed, Inc. (a)	92,800		2,268,032
Intercept Pharmaceuticals, Inc. (a)	2,200		417,472
Ironwood Pharmaceuticals, Inc. Class A (a)	45,018		495,198
Isis Pharmaceuticals, Inc. (a)	115,700		5,805,826
Lexicon Pharmaceuticals, Inc. (a)(d)	28,996		346,212
Merrimack Pharmaceuticals, Inc. (a)	163,000		1,644,670
Ophthotech Corp. (a)	52,800		2,324,784
Prothena Corp. PLC (a)	32,300		1,858,219
Regeneron Pharmaceuticals, Inc. (a)	24,200		12,426,700
Regulus Therapeutics, Inc. (a)	8,700		72,471
Rigel Pharmaceuticals, Inc. (a)	181,900		545,700
Seattle Genetics, Inc. (a)(d)	104,200		4,196,134
Seres Therapeutics, Inc.	5,500		227,315
Spark Therapeutics, Inc.	900		39,249
Swedish Orphan Biovitrum AB (a)	92,500		1,180,014
Transition Therapeutics, Inc. (a)	126,600		273,456
uniQure B.V. (a)	1,100		29,469
Vertex Pharmaceuticals, Inc. (a)	16,300		2,078,576
XOMA Corp. (a)(d)	293,425		243,807
			92,189,401
Health Care Equipment & Supplies - 0.9%
Abbott Laboratories	21,600		978,264
Abiomed, Inc. (a)	14,400		1,380,960
Baxter International, Inc.	9,500		365,275
Stryker Corp.	9,300		917,445
Zeltiq Aesthetics, Inc. (a)(d)	103,300		3,333,491
			6,975,435
Health Care Providers & Services - 2.1%
Express Scripts Holding Co. (a)	28,700		2,399,320
McKesson Corp.	60,100		11,874,558
Teladoc, Inc. (a)	2,200		56,628
UnitedHealth Group, Inc.	25,300		2,927,210
			17,257,716
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Technology - 0.4%
athenahealth, Inc. (a)(d)	23,400		$ 3,111,498
Castlight Health, Inc. Class B (a)	28,800		152,352
			3,263,850
Life Sciences Tools & Services - 0.3%
Illumina, Inc. (a)	11,000		2,173,710
Pharmaceuticals - 3.8%
AbbVie, Inc.	132,400		8,263,084
AcelRx Pharmaceuticals, Inc. (a)(d)	179,078		766,454
Allergan PLC (a)	13,060		3,966,844
Cempra, Inc. (a)	16,800		577,920
Endo Health Solutions, Inc. (a)	20,700		1,593,900
Intra-Cellular Therapies, Inc. (a)	9,605		257,318
Jazz Pharmaceuticals PLC (a)	3,500		590,870
Mallinckrodt PLC (a)	3,542		305,462
Mylan N.V.	28,600		1,418,274
Teva Pharmaceutical Industries Ltd. sponsored ADR	129,900		8,366,859
Theravance Biopharma, Inc. (a)	22,370		325,707
Theravance, Inc. (d)	86,000		1,196,260
Valeant Pharmaceuticals International, Inc. (Canada) (a)	13,000		3,013,735
XenoPort, Inc. (a)	43,100		290,925
			30,933,612
TOTAL HEALTH CARE			152,793,724
INDUSTRIALS - 7.0%
Aerospace & Defense - 0.6%
Honeywell International, Inc.	28,000		2,779,560
The Boeing Co.	15,700		2,051,676
			4,831,236
Air Freight & Logistics - 0.6%
FedEx Corp.	17,000		2,560,370
United Parcel Service, Inc. Class B	24,600		2,402,190
			4,962,560
Airlines - 2.2%
American Airlines Group, Inc.	54,700		2,132,206
Delta Air Lines, Inc.	32,800		1,435,984
Southwest Airlines Co.	112,600		4,132,420
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Airlines - continued
Spirit Airlines, Inc. (a)	77,100		$ 3,951,375
United Continental Holdings, Inc. (a)	99,300		5,657,121
			17,309,106
Building Products - 0.0%
Caesarstone Sdot-Yam Ltd.	9,100		362,089
Electrical Equipment - 0.1%
Acuity Brands, Inc.	4,100		798,967
Industrial Conglomerates - 0.9%
3M Co.	15,800		2,245,812
Danaher Corp.	60,000		5,221,200
			7,467,012
Machinery - 0.3%
Caterpillar, Inc.	17,100		1,307,124
Cummins, Inc.	7,100		864,425
			2,171,549
Professional Services - 0.5%
TriNet Group, Inc. (a)	231,800		3,903,512
Road & Rail - 1.7%
CSX Corp.	22,900		627,002
Genesee & Wyoming, Inc. Class A (a)	18,600		1,271,868
Hertz Global Holdings, Inc. (a)	30,700		565,801
J.B. Hunt Transport Services, Inc.	25,200		1,834,056
Kansas City Southern	17,500		1,622,950
Union Pacific Corp.	88,500		7,587,990
			13,509,667
Trading Companies & Distributors - 0.1%
HD Supply Holdings, Inc. (a)	24,800		818,400
TOTAL INDUSTRIALS			56,134,098
INFORMATION TECHNOLOGY - 42.2%
Communications Equipment - 1.1%
Infinera Corp. (a)(d)	271,200		5,917,584
QUALCOMM, Inc.	54,900		3,106,242
			9,023,826
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Components - 0.4%
IPG Photonics Corp. (a)	21,700		$ 1,831,914
Trimble Navigation Ltd. (a)	90,300		1,706,670
			3,538,584
Internet Software & Services - 12.1%
Akamai Technologies, Inc. (a)	39,400		2,809,614
Alibaba Group Holding Ltd. sponsored ADR (d)	128,000		8,463,360
Cornerstone OnDemand, Inc. (a)	4,000		142,960
eBay, Inc. (a)	46,000		1,247,060
Endurance International Group Holdings, Inc. (a)(d)	638,500		9,762,665
Facebook, Inc. Class A (a)	179,000		16,007,970
GoDaddy, Inc. (a)(d)	308,500		7,737,180
Google, Inc.:
Class A (a)	35,200		22,803,264
Class C	36,300		22,442,475
LinkedIn Corp. Class A (a)	4,500		812,700
Rackspace Hosting, Inc. (a)	34,200		1,040,022
Twitter, Inc. (a)	12,300		341,817
Web.com Group, Inc. (a)	3,200		68,896
Wix.com Ltd. (a)	187,669		3,706,463
			97,386,446
IT Services - 7.5%
Alliance Data Systems Corp. (a)	25,300		6,506,907
Cognizant Technology Solutions Corp. Class A (a)	199,300		12,543,942
EPAM Systems, Inc. (a)	56,100		3,961,221
Fidelity National Information Services, Inc.	58,100		4,012,386
IBM Corp.	13,800		2,040,882
MasterCard, Inc. Class A	107,600		9,939,012
PayPal Holdings, Inc. (a)	46,000		1,610,000
Sabre Corp.	157,900		4,298,038
Visa, Inc. Class A	210,700		15,022,910
			59,935,298
Semiconductors & Semiconductor Equipment - 5.2%
Applied Materials, Inc.	48,800		784,948
Applied Micro Circuits Corp. (a)(d)	358,800		2,098,980
Avago Technologies Ltd.	35,100		4,421,547
Broadcom Corp. Class A	80,900		4,180,103
Cavium, Inc. (a)	19,900		1,353,598
Cree, Inc. (a)(d)	74,900		2,038,778
Cypress Semiconductor Corp.	193,600		1,936,000
First Solar, Inc. (a)	26,500		1,267,760
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Mellanox Technologies Ltd. (a)	43,500		$ 1,759,140
Micron Technology, Inc. (a)	30,700		503,787
NVIDIA Corp.	219,900		4,943,352
Qorvo, Inc. (a)	182,300		10,119,473
Rambus, Inc. (a)	129,000		1,732,470
Silicon Laboratories, Inc. (a)	89,700		3,900,156
Xilinx, Inc.	15,000		628,350
			41,668,442
Software - 7.3%
Adobe Systems, Inc. (a)	28,900		2,270,673
Citrix Systems, Inc. (a)	8,700		592,557
Fortinet, Inc. (a)	46,100		1,942,654
Interactive Intelligence Group, Inc. (a)	60,500		2,118,105
Intuit, Inc.	36,300		3,112,725
Microsoft Corp.	325,800		14,178,816
NetSuite, Inc. (a)	25,200		2,239,020
Oracle Corp.	75,900		2,815,131
Qlik Technologies, Inc. (a)	6,700		253,662
Red Hat, Inc. (a)	66,700		4,816,407
Salesforce.com, Inc. (a)	288,000		19,975,680
ServiceNow, Inc. (a)	30,700		2,178,472
TiVo, Inc. (a)	63,800		580,580
VMware, Inc. Class A (a)	7,100		561,965
Workday, Inc. Class A (a)	15,000		1,053,900
			58,690,347
Technology Hardware, Storage & Peripherals - 8.6%
3D Systems Corp. (a)(d)	8,000		109,840
Apple, Inc.	511,600		57,688,017
Electronics for Imaging, Inc. (a)	88,700		3,882,399
Nimble Storage, Inc. (a)	112,900		3,009,914
SanDisk Corp.	11,800		643,808
Seagate Technology LLC	82,100		4,219,940
			69,553,918
TOTAL INFORMATION TECHNOLOGY			339,796,861
MATERIALS - 2.1%
Chemicals - 1.7%
E.I. du Pont de Nemours & Co.	21,300		1,096,950
LyondellBasell Industries NV Class A	87,300		7,453,674
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Chemicals - continued
Monsanto Co.	55,600		$ 5,429,340
The Chemours Co. LLC	4,260		41,194
			14,021,158
Containers & Packaging - 0.4%
Sealed Air Corp.	57,400		2,953,230
WestRock Co.	4,437		263,336
			3,216,566
TOTAL MATERIALS			17,237,724
TELECOMMUNICATION SERVICES - 0.5%
Diversified Telecommunication Services - 0.3%
Verizon Communications, Inc.	42,200		1,941,622
Wireless Telecommunication Services - 0.2%
RingCentral, Inc. (a)	3,900		67,119
T-Mobile U.S., Inc. (a)	42,400		1,679,464
			1,746,583
TOTAL TELECOMMUNICATION SERVICES			3,688,205
UTILITIES - 0.2%
Independent Power and Renewable Electricity Producers - 0.2%
NRG Energy, Inc.	34,400		685,248
Ormat Technologies, Inc. (d)	14,000		492,800
			1,178,048
TOTAL COMMON STOCKS (Cost $706,013,910)		796,049,052
Convertible Preferred Stocks - 0.7%

CONSUMER STAPLES - 0.2%
Food & Staples Retailing - 0.1%
Blue Apron, Inc. Series D (e)	56,277		749,998
Tobacco - 0.1%
PAX Labs, Inc. Series C (e)	273,248		1,052,005
TOTAL CONSUMER STAPLES			1,802,003
Convertible Preferred Stocks - continued
	Shares		Value
FINANCIALS - 0.2%
Real Estate Management & Development - 0.2%
Redfin Corp. Series G (e)	282,324		$ 1,030,483
INFORMATION TECHNOLOGY - 0.3%
Internet Software & Services - 0.3%
Uber Technologies, Inc. Series D, 8.00% (a)(e)	55,696		2,207,789
Software - 0.0%
Cloudera, Inc. Series F (a)(e)	10,396		341,301
TOTAL INFORMATION TECHNOLOGY			2,549,090
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $3,748,404)		5,381,576
Money Market Funds - 3.4%

Fidelity Cash Central Fund, 0.15% (b)	4,245,484		4,245,484
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	23,408,518		23,408,518
TOTAL MONEY MARKET FUNDS (Cost $27,654,002)		27,654,002
TOTAL INVESTMENT PORTFOLIO - 103.0% (Cost $737,416,316)		829,084,630
NET OTHER ASSETS (LIABILITIES) - (3.0)%			(24,286,257)
NET ASSETS - 100%		$ 804,798,373

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Blue Apron, Inc. Series D	5/18/15	$ 749,998
Cloudera, Inc. Series F	2/5/14	$ 151,366
PAX Labs, Inc. Series C	5/22/15	$ 1,052,005
Redfin Corp. Series G	12/16/14	$ 931,020
Uber Technologies, Inc. Series D, 8.00%	6/6/14	$ 864,015

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	$ 15,581
Fidelity Securities Lending Cash Central Fund	224,736
Total	$ 240,317

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table 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	$ 115,902,102	$ 115,902,102	$ -	$ -
Consumer Staples	57,447,772	55,645,769	-	1,802,003
Energy	18,018,041	18,018,041	-	-
Financials	36,684,963	35,654,480	-	1,030,483
Health Care	152,793,724	152,793,724	-	-
Industrials	56,134,098	56,134,098	-	-
Information Technology	342,345,951	339,796,861	-	2,549,090
Materials	17,237,724	17,237,724	-	-
Telecommunication Services	3,688,205	3,688,205	-	-
Utilities	1,178,048	1,178,048	-	-
Money Market Funds	27,654,002	27,654,002	-	-
Total Investments in Securities:	$ 829,084,630	$ 823,703,054	$ -	$ 5,381,576

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $737,727,475. Net unrealized appreciation aggregated $91,357,155, of which $141,258,055 related to appreciated investment securities and $49,900,900 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The 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:

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report
for
Fidelity Advisor® Series
Small Cap Fund

August 31, 2015

1.967947.101

AXS5-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.2%
	Shares		Value
CONSUMER DISCRETIONARY - 14.1%
Auto Components - 0.2%
Horizon Global Corp. (a)	88,440		$ 925,082
Diversified Consumer Services - 1.8%
DeVry, Inc. (e)	137,800		3,604,848
Meiko Network Japan Co. Ltd.	222,100		2,329,525
Tsukada Global Holdings, Inc.	392,500		2,506,315
			8,440,688
Household Durables - 0.8%
Tupperware Brands Corp. (e)	77,800		3,985,694
Leisure Products - 1.3%
Smith & Wesson Holding Corp. (a)	353,700		6,394,896
Media - 0.2%
Crown Media Holdings, Inc. Class A (a)	162,000		866,700
Multiline Retail - 1.1%
Big Lots, Inc. (e)	107,200		5,144,528
Specialty Retail - 7.8%
Aarons, Inc. Class A	181,400		6,829,710
Hibbett Sports, Inc. (a)(e)	138,200		5,458,900
Jumbo SA	35,381		297,771
Office Depot, Inc. (a)	1,282,320		10,168,798
Sally Beauty Holdings, Inc. (a)	176,900		4,624,166
Select Comfort Corp. (a)	238,900		5,817,215
Staples, Inc.	290,100		4,122,321
			37,318,881
Textiles, Apparel & Luxury Goods - 0.9%
Fossil Group, Inc. (a)	70,700		4,353,706
TOTAL CONSUMER DISCRETIONARY			67,430,175
CONSUMER STAPLES - 3.7%
Food & Staples Retailing - 3.7%
Ain Pharmaciez, Inc.	30,700		1,405,923
Sundrug Co. Ltd.	66,000		3,708,907
Tsuruha Holdings, Inc.	68,800		5,583,669
United Natural Foods, Inc. (a)	147,700		7,111,755
			17,810,254
ENERGY - 2.2%
Energy Equipment & Services - 0.1%
Cathedral Energy Services Ltd.	479,300		637,561
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - 2.1%
Delek Logistics Partners LP	68,900		$ 2,743,598
World Fuel Services Corp.	187,725		7,255,571
			9,999,169
TOTAL ENERGY			10,636,730
FINANCIALS - 21.5%
Banks - 5.5%
Bank of the Ozarks, Inc.	86,000		3,594,800
ConnectOne Bancorp, Inc.	271,300		5,195,395
First NBC Bank Holding Co. (a)	178,600		6,251,000
Investors Bancorp, Inc.	565,999		6,667,468
Wilshire Bancorp, Inc.	414,900		4,431,132
			26,139,795
Consumer Finance - 2.2%
PRA Group, Inc. (a)(e)	106,100		5,654,069
SLM Corp. (a)	563,500		4,778,480
			10,432,549
Insurance - 6.2%
CNO Financial Group, Inc.	463,800		8,297,382
Enstar Group Ltd. (a)	26,000		3,798,860
James River Group Holdings Ltd.	4,800		132,480
National Western Life Insurance Co. Class A	2,639		600,161
Primerica, Inc.	212,259		9,018,885
Reinsurance Group of America, Inc.	85,300		7,752,064
			29,599,832
Real Estate Investment Trusts - 3.8%
Corrections Corp. of America	196,300		5,767,294
EPR Properties	57,100		2,905,819
MFA Financial, Inc.	689,800		4,904,478
VEREIT, Inc.	542,000		4,411,880
			17,989,471
Real Estate Management & Development - 0.4%
Relo Holdings Corp.	19,200		2,005,575
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - 3.4%
BofI Holding, Inc. (a)(e)	123,800		$ 14,340,992
Meridian Bancorp, Inc.	173,610		2,211,791
			16,552,783
TOTAL FINANCIALS			102,720,005
HEALTH CARE - 13.6%
Biotechnology - 1.9%
United Therapeutics Corp. (a)	59,700		8,992,014
Health Care Equipment & Supplies - 0.9%
Fukuda Denshi Co. Ltd.	4,900		249,530
The Cooper Companies, Inc.	24,800		4,028,016
			4,277,546
Health Care Providers & Services - 8.3%
Aceto Corp.	212,200		4,755,402
AmSurg Corp. (a)	126,100		9,888,762
Community Health Systems, Inc. (a)	86,300		4,634,310
MEDNAX, Inc. (a)	51,920		4,182,156
Message Co. Ltd.	22,300		806,959
Providence Service Corp. (a)	106,100		4,756,463
Ryman Healthcare Group Ltd.	132,689		643,352
Sigma Pharmaceuticals Ltd.	438,059		250,954
The Ensign Group, Inc.	204,800		9,615,360
			39,533,718
Life Sciences Tools & Services - 1.0%
VWR Corp. (e)	191,200		5,019,000
Pharmaceuticals - 1.5%
Jazz Pharmaceuticals PLC (a)	25,800		4,355,556
Sawai Pharmaceutical Co. Ltd.	48,500		3,062,341
			7,417,897
TOTAL HEALTH CARE			65,240,175
INDUSTRIALS - 15.9%
Aerospace & Defense - 2.3%
Engility Holdings, Inc.	106,100		2,949,580
Moog, Inc. Class A (a)	70,700		4,461,170
Teledyne Technologies, Inc. (a)	34,600		3,387,686
			10,798,436
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 5.8%
Coor Service Management Holding AB (a)	207,400		$ 823,133
Deluxe Corp.	139,900		8,115,599
Mitie Group PLC	906,100		4,125,348
UniFirst Corp.	44,200		4,791,722
West Corp.	402,800		9,804,152
			27,659,954
Electrical Equipment - 2.2%
BWX Technologies, Inc.	177,800		4,715,256
EnerSys	106,700		5,705,249
			10,420,505
Machinery - 4.1%
Federal Signal Corp.	318,400		4,505,360
Hy-Lok Corp.	120,411		3,471,789
Standex International Corp.	93,900		7,513,878
TriMas Corp. (a)	221,100		4,032,864
			19,523,891
Marine - 0.3%
SITC International Holdings Co. Ltd.	3,074,000		1,542,940
Professional Services - 0.7%
Benefit One, Inc.	200,600		3,599,725
Transportation Infrastructure - 0.5%
Wesco Aircraft Holdings, Inc. (a)	172,000		2,414,880
TOTAL INDUSTRIALS			75,960,331
INFORMATION TECHNOLOGY - 20.5%
Electronic Equipment & Components - 7.4%
Belden, Inc.	70,700		3,562,573
CDW Corp.	341,300		13,566,675
Insight Enterprises, Inc. (a)	151,200		3,826,872
SYNNEX Corp.	92,182		7,299,893
Zebra Technologies Corp. Class A (a)	85,300		7,069,664
			35,325,677
Internet Software & Services - 1.3%
Stamps.com, Inc. (a)	74,400		6,126,096
IT Services - 9.6%
Blackhawk Network Holdings, Inc. (a)	152,300		6,017,373
Cardtronics, Inc. (a)	172,800		5,961,600
EPAM Systems, Inc. (a)	12,500		882,625
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - continued
EVERTEC, Inc.	233,100		$ 4,219,110
Global Payments, Inc.	95,900		10,682,301
MoneyGram International, Inc. (a)	354,800		3,100,952
Perficient, Inc. (a)	137,600		2,278,656
Syntel, Inc. (a)	222,600		9,894,570
WEX, Inc. (a)	30,200		2,854,806
			45,891,993
Software - 2.2%
NIIT Technologies Ltd. (a)	280,385		1,970,971
Sword Group	82,661		1,971,108
Verint Systems, Inc. (a)	105,800		5,642,314
Zensar Technologies Ltd. (a)	97,951		1,234,987
			10,819,380
TOTAL INFORMATION TECHNOLOGY			98,163,146
MATERIALS - 2.2%
Chemicals - 1.6%
Innospec, Inc.	16,400		805,240
PolyOne Corp.	209,600		6,805,712
			7,610,952
Paper & Forest Products - 0.6%
Neenah Paper, Inc.	52,200		3,012,984
TOTAL MATERIALS			10,623,936
TELECOMMUNICATION SERVICES - 0.3%
Diversified Telecommunication Services - 0.2%
APT Satellite Holdings Ltd.	480,750		349,860
Asia Satellite Telecommunications Holdings Ltd.	120,000		218,941
Vocus Communications Ltd.	126,918		524,766
			1,093,567
Wireless Telecommunication Services - 0.1%
Cellcom Israel Ltd. (Israel) (a)	32,400		211,027
Partner Communications Co. Ltd. (a)	31,214		136,193
			347,220
TOTAL TELECOMMUNICATION SERVICES			1,440,787
Common Stocks - continued
	Shares		Value
UTILITIES - 0.2%
Gas Utilities - 0.2%
Star Gas Partners LP	91,132		$ 873,045
TOTAL COMMON STOCKS (Cost $415,037,120)		450,898,584

U.S. Treasury Obligations - 0.3%
		Principal Amount (d)
U.S. Treasury Bills, yield at date of purchase 0.03% to 0.07% 10/22/15 to 10/29/15 (h) (Cost $1,629,876)		$ 1,630,000	1,629,981
Preferred Securities - 0.4%

FINANCIALS - 0.4%
Diversified Financial Services - 0.4%
Baggot Securities Ltd. 10.24% (f)(g) (Cost $2,687,396)	EUR	1,730,000	2,086,637

Money Market Funds - 8.8%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	25,887,587		25,887,587
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	15,993,025		15,993,025
TOTAL MONEY MARKET FUNDS (Cost $41,880,612)		41,880,612
TOTAL INVESTMENT PORTFOLIO - 103.7% (Cost $461,235,004)			496,495,814
NET OTHER ASSETS (LIABILITIES) - (3.7)%			(17,832,275)
NET ASSETS - 100%		$ 478,663,539

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
162 ICE Russell 2000 Index Contracts (United States)	Sept. 2015	$ 18,751,500	$ (1,274,163)

The face value of futures purchased as a percentage of net assets is 3.9%

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

(d) Amount is stated in United States dollars unless otherwise noted.

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

(g) Security is perpetual in nature with no stated maturity date.

(h) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,022,988.

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	$ 46,358
Fidelity Securities Lending Cash Central Fund	48,631
Total	$ 94,989

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table 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	$ 67,430,175	$ 62,594,335	$ 4,835,840	$ -
Consumer Staples	17,810,254	7,111,755	10,698,499	-
Energy	10,636,730	10,636,730	-	-
Financials	102,720,005	100,714,430	2,005,575	-
Health Care	65,240,175	61,121,345	4,118,830	-
Industrials	75,960,331	72,360,606	3,599,725	-
Information Technology	98,163,146	98,163,146	-	-
Materials	10,623,936	10,623,936	-	-
Telecommunication Services	1,440,787	1,304,594	136,193	-
Utilities	873,045	873,045	-	-
U.S. Government and Government Agency Obligations	1,629,981	-	1,629,981	-
Preferred Securities	2,086,637	-	2,086,637	-
Money Market Funds	41,880,612	41,880,612	-	-
Total Investments in Securities:	$ 496,495,814	$ 467,384,534	$ 29,111,280	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (1,274,163)	$ (1,274,163)	$ -	$ -

Transfers	Total
Level 1 to Level 2	$ 22,177,884
Level 2 to Level 1	$ 0

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $461,279,915. Net unrealized appreciation aggregated $35,215,899, of which $67,331,587 related to appreciated investment securities and $32,115,688 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Small Cap Fund

August 31, 2015

1.805747.111

ASCF-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 91.6%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 14.4%
Auto Components - 0.2%
Horizon Global Corp. (a)	500,000		$ 5,230
Diversified Consumer Services - 1.9%
DeVry, Inc.	800,000		20,928
Meiko Network Japan Co. Ltd. (f)	1,577,900		16,550
Tsukada Global Holdings, Inc. (e)(f)	2,800,000		17,879
			55,357
Household Durables - 0.7%
Tupperware Brands Corp. (e)	440,000		22,541
Leisure Products - 1.2%
Smith & Wesson Holding Corp. (a)	2,000,000		36,160
Media - 0.2%
Crown Media Holdings, Inc. Class A (a)	1,006,821		5,386
Multiline Retail - 1.0%
Big Lots, Inc. (e)	600,000		28,794
Specialty Retail - 8.4%
Aarons, Inc. Class A	1,072,000		40,361
Genesco, Inc. (a)	499,200		29,897
Hibbett Sports, Inc. (a)(e)	800,000		31,600
Jumbo SA	303,981		2,558
Office Depot, Inc. (a)	7,514,200		59,588
Sally Beauty Holdings, Inc. (a)	1,000,000		26,140
Select Comfort Corp. (a)	1,400,000		34,090
Staples, Inc.	1,700,000		24,157
			248,391
Textiles, Apparel & Luxury Goods - 0.8%
Fossil Group, Inc. (a)	400,000		24,632
TOTAL CONSUMER DISCRETIONARY			426,491
CONSUMER STAPLES - 3.7%
Food & Staples Retailing - 3.7%
Ain Pharmaciez, Inc.	190,000		8,701
Sundrug Co. Ltd.	400,000		22,478
Tsuruha Holdings, Inc.	425,000		34,492
United Natural Foods, Inc. (a)	900,000		43,335
			109,006
ENERGY - 2.1%
Energy Equipment & Services - 0.1%
Cathedral Energy Services Ltd. (f)	3,363,407		4,474
Common Stocks - continued
	Shares		Value (000s)
ENERGY - continued
Oil, Gas & Consumable Fuels - 2.0%
Delek Logistics Partners LP	400,000		$ 15,928
World Fuel Services Corp.	1,100,000		42,515
			58,443
TOTAL ENERGY			62,917
FINANCIALS - 20.2%
Banks - 5.1%
Bank of the Ozarks, Inc.	500,000		20,900
ConnectOne Bancorp, Inc. (f)	1,550,000		29,683
First NBC Bank Holding Co. (a)(f)	1,026,364		35,923
Investors Bancorp, Inc.	3,316,299		39,066
Wilshire Bancorp, Inc.	2,350,000		25,098
			150,670
Consumer Finance - 2.0%
PRA Group, Inc. (a)(e)	600,000		31,974
SLM Corp. (a)	3,185,800		27,016
			58,990
Insurance - 5.9%
CNO Financial Group, Inc.	2,700,000		48,303
Enstar Group Ltd. (a)	150,000		21,917
James River Group Holdings Ltd.	29,751		821
National Western Life Insurance Co. Class A	16,000		3,639
Primerica, Inc.	1,266,700		53,822
Reinsurance Group of America, Inc.	500,000		45,440
			173,942
Real Estate Investment Trusts - 3.5%
Corrections Corp. of America	1,150,000		33,787
EPR Properties	330,000		16,794
MFA Financial, Inc.	3,900,000		27,729
VEREIT, Inc.	3,200,000		26,048
			104,358
Real Estate Management & Development - 0.5%
Relo Holdings Corp.	140,000		14,624
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Thrifts & Mortgage Finance - 3.2%
BofI Holding, Inc. (a)(e)	700,000		$ 81,084
Meridian Bancorp, Inc.	1,095,110		13,952
			95,036
TOTAL FINANCIALS			597,620
HEALTH CARE - 12.7%
Biotechnology - 1.8%
United Therapeutics Corp. (a)	350,000		52,717
Health Care Equipment & Supplies - 0.8%
Fukuda Denshi Co. Ltd.	24,600		1,253
The Cooper Companies, Inc.	140,000		22,739
			23,992
Health Care Providers & Services - 7.7%
Aceto Corp.	1,200,000		26,892
AmSurg Corp. (a)	713,000		55,913
Community Health Systems, Inc. (a)	500,000		26,850
MEDNAX, Inc. (a)	300,000		24,165
Message Co. Ltd.	134,600		4,871
Providence Service Corp. (a)	600,000		26,898
Ryman Healthcare Group Ltd.	900,000		4,364
Sigma Pharmaceuticals Ltd.	3,000,000		1,719
The Ensign Group, Inc.	1,200,000		56,340
			228,012
Life Sciences Tools & Services - 0.9%
VWR Corp. (e)	1,081,000		28,376
Pharmaceuticals - 1.5%
Jazz Pharmaceuticals PLC (a)	150,000		25,323
Sawai Pharmaceutical Co. Ltd.	300,000		18,942
			44,265
TOTAL HEALTH CARE			377,362
INDUSTRIALS - 14.9%
Aerospace & Defense - 2.1%
Engility Holdings, Inc.	600,000		16,680
Moog, Inc. Class A (a)	400,000		25,240
Teledyne Technologies, Inc. (a)	200,000		19,582
			61,502
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Commercial Services & Supplies - 5.4%
Coor Service Management Holding AB (a)	1,535,502		$ 6,094
Deluxe Corp.	800,000		46,408
Mitie Group PLC	5,600,000		25,496
UniFirst Corp.	250,000		27,103
West Corp.	2,300,000		55,982
			161,083
Electrical Equipment - 2.1%
BWX Technologies, Inc.	1,050,000		27,846
EnerSys	625,550		33,448
			61,294
Machinery - 3.8%
Federal Signal Corp.	1,800,000		25,470
Hy-Lok Corp. (f)	700,000		20,183
Standex International Corp.	550,000		44,011
TriMas Corp. (a)	1,250,000		22,800
			112,464
Marine - 0.3%
SITC International Holdings Co. Ltd.	19,000,000		9,537
Professional Services - 0.7%
Benefit One, Inc. (e)	1,224,100		21,966
Transportation Infrastructure - 0.5%
Wesco Aircraft Holdings, Inc. (a)	1,000,000		14,040
TOTAL INDUSTRIALS			441,886
INFORMATION TECHNOLOGY - 21.0%
Electronic Equipment & Components - 6.9%
Belden, Inc.	400,000		20,156
CDW Corp.	2,000,000		79,500
Insight Enterprises, Inc. (a)	900,000		22,779
SYNNEX Corp.	520,913		41,251
Zebra Technologies Corp. Class A (a)	500,000		41,440
			205,126
Internet Software & Services - 1.2%
Stamps.com, Inc. (a)	425,000		34,995
IT Services - 8.9%
Blackhawk Network Holdings, Inc. (a)	900,000		35,559
Cardtronics, Inc. (a)	1,000,000		34,500
EPAM Systems, Inc. (a)	50,000		3,531
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
IT Services - continued
EVERTEC, Inc.	1,365,000		$ 24,707
Global Payments, Inc.	550,000		61,265
MoneyGram International, Inc. (a)	2,050,000		17,917
Perficient, Inc. (a)	800,000		13,248
Syntel, Inc. (a)	1,300,000		57,785
WEX, Inc. (a)	170,000		16,070
			264,582
Software - 4.0%
NIIT Technologies Ltd. (a)(f)	3,800,000		26,712
Sword Group (f)	587,339		14,006
Verint Systems, Inc. (a)	620,000		33,065
Zensar Technologies Ltd. (a)(f)	3,500,000		44,129
			117,912
TOTAL INFORMATION TECHNOLOGY			622,615
MATERIALS - 2.1%
Chemicals - 1.5%
Innospec, Inc.	100,000		4,910
PolyOne Corp.	1,200,000		38,964
			43,874
Paper & Forest Products - 0.6%
Neenah Paper, Inc.	300,000		17,316
TOTAL MATERIALS			61,190
TELECOMMUNICATION SERVICES - 0.3%
Diversified Telecommunication Services - 0.2%
APT Satellite Holdings Ltd.	3,150,000		2,292
Asia Satellite Telecommunications Holdings Ltd.	800,000		1,460
Vocus Communications Ltd. (e)	784,380		3,243
			6,995
Wireless Telecommunication Services - 0.1%
Cellcom Israel Ltd. (Israel) (a)	200,000		1,303
Partner Communications Co. Ltd. (a)	219,793		959
			2,262
TOTAL TELECOMMUNICATION SERVICES			9,257
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - 0.2%
Gas Utilities - 0.2%
Star Gas Partners LP	552,130		$ 5,289
TOTAL COMMON STOCKS (Cost $2,182,759)		2,713,633

U.S. Treasury Obligations - 0.4%
		Principal Amount (000s)(d)
U.S. Treasury Bills, yield at date of purchase 0.03% to 0.05% 10/22/15 to 10/29/15 (i) (Cost $11,299)		$ 11,300	11,300
Preferred Securities - 0.5%

FINANCIALS - 0.5%
Diversified Financial Services - 0.5%
Baggot Securities Ltd. 10.24% (g)(h) (Cost $18,643)	EUR	12,000	14,476

Money Market Funds - 10.8%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	236,238,364		236,238
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	83,684,957		83,685
TOTAL MONEY MARKET FUNDS (Cost $319,923)		319,923
TOTAL INVESTMENT PORTFOLIO - 103.3% (Cost $2,532,624)			3,059,332
NET OTHER ASSETS (LIABILITIES) - (3.3)%			(98,063)
NET ASSETS - 100%		$ 2,961,269

Futures Contracts
	Expiration Date	Underlying Face Amount at Value (000s)	Unrealized Appreciation/ (Depreciation) (000s)
Purchased
Equity Index Contracts
1,660 ICE Russell 2000 Index Contracts (United States)	Sept. 2015	$ 192,145	$ (16,360)

The face value of futures purchased as a percentage of net assets is 6.5%

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

(d) Amount is stated in United States dollars unless otherwise noted.

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

(f) Affiliated company

(h) Security is perpetual in nature with no stated maturity date.

(i) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $8,920,000.

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	$ 263
Fidelity Securities Lending Cash Central Fund	183
Total	$ 446

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Cathedral Energy Services Ltd.	$ 8,984	$ 376	$ -	$ 367	$ 4,474
ConnectOne Bancorp, Inc.	-	30,386	-	160	29,683
First NBC Bank Holding Co.	29,120	8,512	-	-	35,923
Hy-Lok Corp.	19,901	-	-	212	20,183
Meiko Network Japan Co. Ltd.	16,216	-	-	403	16,550
NIIT Technologies Ltd.	23,245	-	-	565	26,712
Stamps.com, Inc.	40,163	-	29,789	-	-
Sword Group	12,905	-	-	668	14,006
The Ensign Group, Inc.	47,304	-	-	270	-
Tsukada Global Holdings, Inc.	17,524	-	-	206	17,879
Zensar Technologies Ltd.	33,225	-	-	614	44,129
Total	$ 248,587	$ 39,274	$ 29,789	$ 3,465	$ 209,539

Other Information

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 426,491	$ 392,062	$ 34,429	$ -
Consumer Staples	109,006	43,335	65,671	-
Energy	62,917	62,917	-	-
Financials	597,620	582,996	14,624	-
Health Care	377,362	352,296	25,066	-
Industrials	441,886	419,920	21,966	-
Information Technology	622,615	622,615	-	-
Materials	61,190	61,190	-	-
Telecommunication Services	9,257	8,298	959	-
Utilities	5,289	5,289	-	-
U.S. Government and Government Agency Obligations	11,300	-	11,300	-
Preferred Securities	14,476	-	14,476	-
Money Market Funds	319,923	319,923	-	-
Total Investments in Securities:	$ 3,059,332	$ 2,870,841	$ 188,491	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (16,360)	$ (16,360)	$ -	$ -

Transfers	Total (000s)
Level 1 to Level 2	$ 137,564
Level 2 to Level 1	$ 0

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $2,532,598,000. Net unrealized appreciation aggregated $526,734,000, of which $711,900,000 related to appreciated investment securities and $185,166,000 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Preferred securities and U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Stock Selector
Mid Cap Fund

August 31, 2015

1.805741.111

MC-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.5%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 14.5%
Auto Components - 0.5%
Dorman Products, Inc. (a)(d)	227,100		$ 11,434
Automobiles - 0.8%
Harley-Davidson, Inc.	337,800		18,934
Distributors - 1.2%
LKQ Corp. (a)	968,500		29,045
Diversified Consumer Services - 1.5%
ServiceMaster Global Holdings, Inc. (a)	1,030,700		36,260
Hotels, Restaurants & Leisure - 0.8%
Wyndham Worldwide Corp.	262,600		20,084
Household Durables - 2.8%
Jarden Corp. (a)	733,072		37,636
NVR, Inc. (a)	20,100		30,551
			68,187
Internet & Catalog Retail - 0.8%
Liberty Interactive Corp. Qvc G Series A (a)	665,210		17,987
Media - 2.3%
AMC Networks, Inc. Class A (a)	279,000		20,194
Liberty Broadband Corp. Class A (a)	375,281		20,442
Viacom, Inc. Class B (non-vtg.)	367,700		14,991
			55,627
Multiline Retail - 0.9%
Dollar General Corp.	291,000		21,677
Specialty Retail - 2.9%
AutoNation, Inc. (a)	341,200		20,417
CarMax, Inc. (a)	253,500		15,464
Ross Stores, Inc.	357,500		17,382
Sally Beauty Holdings, Inc. (a)	617,400		16,139
			69,402
TOTAL CONSUMER DISCRETIONARY			348,637
CONSUMER STAPLES - 4.2%
Beverages - 1.0%
Coca-Cola Enterprises, Inc.	193,600		9,968
Dr. Pepper Snapple Group, Inc.	77,900		5,977
Molson Coors Brewing Co. Class B	115,100		7,837
			23,782
Food Products - 0.9%
Campbell Soup Co.	158,900		7,626
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food Products - continued
Nomad Foods Ltd. (a)	197,893		$ 3,920
Pinnacle Foods, Inc.	123,900		5,556
The J.M. Smucker Co.	48,703		5,733
			22,835
Household Products - 1.4%
Church & Dwight Co., Inc.	291,200		25,125
Energizer Holdings, Inc.	232,700		9,718
			34,843
Personal Products - 0.6%
Edgewell Personal Care Co. (a)	154,700		13,623
Tobacco - 0.3%
Universal Corp. (d)	138,500		6,816
TOTAL CONSUMER STAPLES			101,899
ENERGY - 3.3%
Energy Equipment & Services - 1.1%
Bristow Group, Inc.	157,500		5,837
Dril-Quip, Inc. (a)	168,800		11,637
Helmerich & Payne, Inc. (d)	137,980		8,142
Nuverra Environmental Solutions, Inc. (a)	2,813		8
			25,624
Oil, Gas & Consumable Fuels - 2.2%
Cabot Oil & Gas Corp.	296,300		7,013
Cimarex Energy Co.	67,300		7,437
Energen Corp.	190,400		9,901
HollyFrontier Corp.	384,300		18,008
PDC Energy, Inc. (a)	60,100		3,376
Stone Energy Corp. (a)	506,400		2,871
Whiting Petroleum Corp. (a)	236,800		4,577
			53,183
TOTAL ENERGY			78,807
FINANCIALS - 24.0%
Banks - 2.7%
Aldermore Group PLC	1,393,000		6,481
Huntington Bancshares, Inc.	1,521,178		16,596
Prosperity Bancshares, Inc.	151,100		7,807
Shawbrook Group Ltd.	1,143,000		5,841
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Banks - continued
Signature Bank (a)	20,000		$ 2,670
Synovus Financial Corp.	591,727		18,006
The Jammu & Kashmir Bank Ltd.	3,148,958		4,573
Virgin Money Holdings Uk PLC	540,800		3,524
			65,498
Capital Markets - 4.0%
Artisan Partners Asset Management, Inc.	450,100		18,396
Fortress Investment Group LLC	1,598,400		9,271
Interactive Brokers Group, Inc.	671,867		26,821
KCG Holdings, Inc. Class A (a)	504,444		5,801
MLP AG	1,566,600		7,025
Moelis & Co. Class A	176,500		4,815
Oaktree Capital Group LLC Class A	102,900		5,454
Och-Ziff Capital Management Group LLC Class A	351,700		3,549
Raymond James Financial, Inc.	116,300		6,163
Virtus Investment Partners, Inc.	31,100		3,578
Vontobel Holdings AG	81,403		4,286
			95,159
Consumer Finance - 4.0%
ACOM Co. Ltd. (a)(d)	1,476,900		6,654
Capital One Financial Corp.	429,900		33,425
Enova International, Inc. (a)	230,067		2,991
Navient Corp.	693,916		8,875
SLM Corp. (a)	1,631,916		13,839
Springleaf Holdings, Inc. (a)	703,680		31,497
			97,281
Diversified Financial Services - 0.4%
Alexander Forbes Group Holding	7,899,128		5,290
MSCI, Inc. Class A	55,000		3,329
			8,619
Insurance - 3.5%
Alleghany Corp. (a)	11,500		5,403
AmTrust Financial Services, Inc. (d)	194,200		11,293
Arthur J. Gallagher & Co.	687,500		30,058
CNO Financial Group, Inc.	341,100		6,102
Direct Line Insurance Group PLC	3,189,858		17,284
Fairfax Financial Holdings Ltd. (sub. vtg.)	11,900		5,534
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Insurance - continued
Hanover Insurance Group, Inc.	40,000		$ 3,156
W.R. Berkley Corp.	89,200		4,842
			83,672
Real Estate Investment Trusts - 9.0%
Alexandria Real Estate Equities, Inc.	185,975		15,992
Altisource Residential Corp. Class B	432,521		6,605
Cousins Properties, Inc.	687,500		6,304
Equity Lifestyle Properties, Inc.	215,500		12,016
Essex Property Trust, Inc.	52,500		11,268
Extra Space Storage, Inc.	240,300		17,657
FelCor Lodging Trust, Inc.	1,315,200		10,614
InfraReit, Inc.	165,900		4,675
Lamar Advertising Co. Class A	58,500		3,120
Liberty Property Trust (SBI)	439,500		13,510
Mack-Cali Realty Corp.	500,700		9,378
Mid-America Apartment Communities, Inc.	139,500		10,963
National Health Investors, Inc.	74,700		4,116
Outfront Media, Inc.	226,800		5,132
Ramco-Gershenson Properties Trust (SBI)	762,300		11,816
Rayonier, Inc.	120,400		2,769
Redwood Trust, Inc.	358,100		5,225
Sabra Health Care REIT, Inc.	514,100		12,323
SL Green Realty Corp.	71,865		7,439
Store Capital Corp.	338,600		6,826
Taubman Centers, Inc.	198,500		13,695
The GEO Group, Inc.	123,800		3,718
Urban Edge Properties	915,400		19,141
Weyerhaeuser Co.	86,000		2,403
			216,705
Real Estate Management & Development - 0.4%
CBRE Group, Inc. (a)	325,900		10,435
TOTAL FINANCIALS			577,369
HEALTH CARE - 8.9%
Biotechnology - 1.2%
AMAG Pharmaceuticals, Inc. (a)	180,000		11,257
Puma Biotechnology, Inc. (a)	50,000		4,596
Vertex Pharmaceuticals, Inc. (a)	96,000		12,242
			28,095
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Health Care Equipment & Supplies - 3.3%
Boston Scientific Corp. (a)	1,580,000		$ 26,449
CONMED Corp.	150,000		7,959
The Cooper Companies, Inc.	136,000		22,089
Tornier NV (a)	500,000		11,120
Zimmer Biomet Holdings, Inc.	120,000		12,427
			80,044
Health Care Providers & Services - 2.1%
Adeptus Health, Inc. Class A (a)(d)	95,000		9,466
HCA Holdings, Inc. (a)	128,000		11,087
MEDNAX, Inc. (a)	270,000		21,749
Surgical Care Affiliates, Inc. (a)	240,000		8,772
			51,074
Life Sciences Tools & Services - 0.5%
Agilent Technologies, Inc.	328,000		11,910
Pharmaceuticals - 1.8%
Catalent, Inc. (a)	380,000		12,080
Endo Health Solutions, Inc. (a)	200,000		15,400
Mallinckrodt PLC (a)	78,000		6,727
Prestige Brands Holdings, Inc. (a)	200,000		9,304
			43,511
TOTAL HEALTH CARE			214,634
INDUSTRIALS - 14.7%
Aerospace & Defense - 1.8%
TransDigm Group, Inc. (a)	188,710		43,371
Commercial Services & Supplies - 0.8%
KAR Auction Services, Inc.	501,879		18,590
Electrical Equipment - 2.7%
AMETEK, Inc.	1,190,790		64,088
Industrial Conglomerates - 2.7%
Roper Industries, Inc.	405,920		65,792
Machinery - 2.0%
Colfax Corp. (a)(d)	494,800		19,193
WABCO Holdings, Inc. (a)	252,618		29,132
			48,325
Road & Rail - 2.0%
J.B. Hunt Transport Services, Inc.	671,340		48,860
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Trading Companies & Distributors - 2.7%
AerCap Holdings NV (a)	193,000		$ 8,114
HD Supply Holdings, Inc. (a)	1,228,300		40,534
Watsco, Inc.	133,300		16,324
			64,972
TOTAL INDUSTRIALS			353,998
INFORMATION TECHNOLOGY - 15.7%
Communications Equipment - 0.8%
F5 Networks, Inc. (a)	109,610		13,308
Juniper Networks, Inc.	123,500		3,175
Ruckus Wireless, Inc. (a)	192,700		2,181
			18,664
Electronic Equipment & Components - 1.7%
CDW Corp.	256,900		10,212
IPG Photonics Corp. (a)(d)	161,700		13,651
Trimble Navigation Ltd. (a)	968,700		18,308
			42,171
Internet Software & Services - 1.5%
HomeAway, Inc. (a)	335,000		9,611
IAC/InterActiveCorp	58,800		4,104
Rackspace Hosting, Inc. (a)	704,600		21,427
Velti PLC (a)(f)	215,084		1
			35,143
IT Services - 4.4%
Alliance Data Systems Corp. (a)	83,100		21,372
Cognizant Technology Solutions Corp. Class A (a)	360,800		22,709
Maximus, Inc.	430,700		26,079
PayPal Holdings, Inc. (a)	166,600		5,831
Total System Services, Inc.	155,200		7,113
VeriFone Systems, Inc. (a)	423,000		13,215
Virtusa Corp. (a)	169,500		8,970
			105,289
Semiconductors & Semiconductor Equipment - 2.5%
Cirrus Logic, Inc. (a)	301,300		9,087
Cree, Inc. (a)(d)	558,600		15,205
Cypress Semiconductor Corp.	918,500		9,185
Marvell Technology Group Ltd.	1,439,800		16,227
NXP Semiconductors NV (a)	21,000		1,778
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Qorvo, Inc. (a)	113,425		$ 6,296
Skyworks Solutions, Inc.	26,800		2,341
			60,119
Software - 3.8%
Adobe Systems, Inc. (a)	27,800		2,184
Citrix Systems, Inc. (a)	207,000		14,099
CommVault Systems, Inc. (a)	302,900		10,856
Fair Isaac Corp.	209,600		17,935
Parametric Technology Corp. (a)	68,242		2,260
Rovi Corp. (a)	398,750		4,414
Salesforce.com, Inc. (a)	117,800		8,171
SolarWinds, Inc. (a)	454,600		18,070
Synopsys, Inc. (a)	224,700		10,545
Workday, Inc. Class A (a)	34,200		2,403
			90,937
Technology Hardware, Storage & Peripherals - 1.0%
SanDisk Corp.	134,200		7,322
Western Digital Corp.	197,600		16,195
			23,517
TOTAL INFORMATION TECHNOLOGY			375,840
MATERIALS - 6.8%
Chemicals - 5.5%
Airgas, Inc.	217,304		20,974
CF Industries Holdings, Inc.	170,800		9,801
Eastman Chemical Co.	253,300		18,354
Ecolab, Inc.	304,579		33,242
PPG Industries, Inc.	277,600		26,453
W.R. Grace & Co. (a)	250,097		24,745
			133,569
Containers & Packaging - 0.7%
WestRock Co.	283,900		16,849
Metals & Mining - 0.6%
Reliance Steel & Aluminum Co.	239,845		13,940
TOTAL MATERIALS			164,358
Common Stocks - continued
	Shares		Value (000s)
TELECOMMUNICATION SERVICES - 0.2%
Diversified Telecommunication Services - 0.1%
Cogent Communications Group, Inc.	34,400		$ 955
Wireless Telecommunication Services - 0.1%
T-Mobile U.S., Inc. (a)	22,900		907
Telephone & Data Systems, Inc.	63,300		1,800
			2,707
TOTAL TELECOMMUNICATION SERVICES			3,662
UTILITIES - 4.2%
Electric Utilities - 2.3%
Cleco Corp.	50,506		2,706
Hawaiian Electric Industries, Inc.	174,800		4,942
OGE Energy Corp.	492,126		13,799
Pinnacle West Capital Corp.	126,000		7,501
PNM Resources, Inc.	647,500		16,582
Portland General Electric Co.	245,300		8,473
			54,003
Gas Utilities - 1.3%
Atmos Energy Corp.	210,940		11,557
National Fuel Gas Co.	201,311		10,863
Questar Corp.	71,000		1,371
Southwest Gas Corp.	131,563		7,248
			31,039
Independent Power and Renewable Electricity Producers - 0.6%
Black Hills Corp.	198,735		7,906
Calpine Corp. (a)	403,600		6,433
Dynegy, Inc. (a)	46,460		1,196
			15,535
TOTAL UTILITIES			100,577
TOTAL COMMON STOCKS (Cost $2,347,818)		2,319,781

U.S. Treasury Obligations - 0.1%
	Principal Amount (000s)	Value (000s)
U.S. Treasury Bills, yield at date of purchase 0.05% to 0.06% 10/29/15 to 11/27/15 (e) (Cost $2,190)	$ 2,190	$ 2,190

Money Market Funds - 6.0%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	90,591,836		90,592
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	52,946,834		52,947
TOTAL MONEY MARKET FUNDS (Cost $143,539)		143,539
TOTAL INVESTMENT PORTFOLIO - 102.6% (Cost $2,493,547)			2,465,510
NET OTHER ASSETS (LIABILITIES) - (2.6)%			(63,473)
NET ASSETS - 100%		$ 2,402,037

Futures Contracts
	Expiration Date	Underlying Face Amount at Value (000s)	Unrealized Appreciation/ (Depreciation) (000s)
Purchased
Equity Index Contracts
71 CME E-mini S&P MidCap 400 Index Contracts (United States)	Sept. 2015	$ 10,043	$ 210

The face value of futures purchased as a percentage of net assets is 0.4%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,662,000.

(f) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $1,000 or 0.0% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Velti PLC	4/19/13	$ 323

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 59
Fidelity Securities Lending Cash Central Fund	227
Total	$ 286

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 348,637	$ 348,637	$ -	$ -
Consumer Staples	101,899	101,899	-	-
Energy	78,807	78,807	-	-
Financials	577,369	570,715	6,654	-
Health Care	214,634	214,634	-	-
Industrials	353,998	353,998	-	-
Information Technology	375,840	375,839	1	-
Materials	164,358	164,358	-	-
Telecommunication Services	3,662	3,662	-	-
Utilities	100,577	100,577	-	-
U.S. Government and Government Agency Obligations	2,190	-	2,190	-
Money Market Funds	143,539	143,539	-	-
Total Investments in Securities:	$ 2,465,510	$ 2,456,665	$ 8,845	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 210	$ 210	$ -	$ -

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $2,495,104,000. Net unrealized depreciation aggregated $29,594,000, of which $190,061,000 related to appreciated investment securities and $219,655,000 related to depreciated investment securities.

Investment Valuation

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity Advisor® Value
Strategies Fund

August 31, 2015

1.805748.111

SO-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.0%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 24.1%
Auto Components - 4.7%
Delphi Automotive PLC	719,777		$ 54,358
Tenneco, Inc. (a)	164,524		7,741
			62,099
Automobiles - 3.1%
General Motors Co.	1,284,836		37,826
Volkswagen AG	18,856		3,527
			41,353
Diversified Consumer Services - 1.6%
Service Corp. International	705,350		20,914
Hotels, Restaurants & Leisure - 2.1%
Cedar Fair LP (depositary unit)	227,420		12,549
Wyndham Worldwide Corp.	199,867		15,286
			27,835
Household Durables - 4.4%
Lennar Corp. Class A	424,700		21,617
PulteGroup, Inc.	744,504		15,404
Ryland Group, Inc.	151,400		6,547
Standard Pacific Corp. (a)	1,866,450		15,772
			59,340
Leisure Products - 3.4%
Hasbro, Inc.	266,797		19,900
Vista Outdoor, Inc. (a)	557,700		26,078
			45,978
Media - 1.1%
Omnicom Group, Inc.	120,112		8,045
Regal Entertainment Group Class A (d)	330,800		6,292
			14,337
Specialty Retail - 3.4%
Asbury Automotive Group, Inc. (a)	343,641		27,687
GameStop Corp. Class A (d)	407,513		17,311
			44,998
Textiles, Apparel & Luxury Goods - 0.3%
PVH Corp.	36,500		4,343
TOTAL CONSUMER DISCRETIONARY			321,197
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - 7.6%
Beverages - 2.8%
Cott Corp. (a)	3,511,564		$ 37,075
Food & Staples Retailing - 1.8%
CVS Health Corp.	237,100		24,279
Food Products - 2.2%
Bunge Ltd.	102,214		7,405
Calavo Growers, Inc.	232,028		13,516
SunOpta, Inc. (a)	984,885		8,726
			29,647
Household Products - 0.8%
Procter & Gamble Co.	142,100		10,042
TOTAL CONSUMER STAPLES			101,043
ENERGY - 3.6%
Energy Equipment & Services - 0.5%
Halliburton Co.	183,600		7,225
Oil, Gas & Consumable Fuels - 3.1%
EP Energy Corp. (a)(d)	274,600		1,947
HollyFrontier Corp.	153,000		7,170
Kinder Morgan, Inc.	170,400		5,523
The Williams Companies, Inc.	154,500		7,447
Valero Energy Corp.	327,300		19,422
			41,509
TOTAL ENERGY			48,734
FINANCIALS - 14.2%
Banks - 10.9%
Bank of America Corp.	3,355,213		54,824
CIT Group, Inc.	157,349		6,835
Citigroup, Inc.	227,323		12,157
JPMorgan Chase & Co.	116,400		7,461
Regions Financial Corp.	778,163		7,463
U.S. Bancorp	862,484		36,526
Wells Fargo & Co.	377,370		20,125
			145,391
Capital Markets - 0.7%
The Blackstone Group LP	267,400		9,158
Insurance - 2.6%
AFLAC, Inc.	251,686		14,749
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Insurance - continued
American International Group, Inc.	201,698		$ 12,170
Unum Group	232,560		7,800
			34,719
TOTAL FINANCIALS			189,268
HEALTH CARE - 16.5%
Health Care Equipment & Supplies - 6.0%
Alere, Inc. (a)	172,283		8,954
Boston Scientific Corp. (a)	1,785,400		29,888
St. Jude Medical, Inc.	463,300		32,806
Zimmer Biomet Holdings, Inc.	87,600		9,072
			80,720
Health Care Providers & Services - 3.8%
DaVita HealthCare Partners, Inc. (a)	158,496		11,989
Universal Health Services, Inc. Class B	278,914		38,250
			50,239
Life Sciences Tools & Services - 0.8%
PerkinElmer, Inc.	207,500		10,101
Pharmaceuticals - 5.9%
Johnson & Johnson	187,800		17,649
Merck & Co., Inc.	390,800		21,045
Sanofi SA sponsored ADR	815,544		39,896
			78,590
TOTAL HEALTH CARE			219,650
INDUSTRIALS - 7.2%
Aerospace & Defense - 4.4%
Esterline Technologies Corp. (a)	180,022		14,710
Honeywell International, Inc.	139,500		13,848
Orbital ATK, Inc.	278,850		21,112
Textron, Inc.	223,717		8,680
			58,350
Machinery - 1.7%
Blount International, Inc.	506,704		3,491
Deere & Co.	86,300		7,058
Ingersoll-Rand PLC	208,100		11,506
			22,055
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Road & Rail - 0.4%
Hertz Global Holdings, Inc. (a)	327,400		$ 6,034
Trading Companies & Distributors - 0.7%
Aircastle Ltd.	467,200		9,708
TOTAL INDUSTRIALS			96,147
INFORMATION TECHNOLOGY - 10.9%
Communications Equipment - 0.4%
Cisco Systems, Inc.	204,600		5,295
IT Services - 0.9%
Fidelity National Information Services, Inc.	165,730		11,445
Semiconductors & Semiconductor Equipment - 2.3%
Cypress Semiconductor Corp.	1,507,475		15,075
Micron Technology, Inc. (a)	559,183		9,176
ON Semiconductor Corp. (a)	646,970		6,182
			30,433
Software - 3.3%
Microsoft Corp.	429,324		18,684
Symantec Corp.	1,262,671		25,872
			44,556
Technology Hardware, Storage & Peripherals - 4.0%
Apple, Inc.	470,660		53,072
TOTAL INFORMATION TECHNOLOGY			144,801
MATERIALS - 9.5%
Chemicals - 8.5%
Ashland, Inc.	83,100		8,723
Axiall Corp.	284,126		7,177
LyondellBasell Industries NV Class A	965,892		82,465
PPG Industries, Inc.	154,592		14,731
			113,096
Containers & Packaging - 1.0%
WestRock Co.	238,000		14,125
TOTAL MATERIALS			127,221
TELECOMMUNICATION SERVICES - 1.9%
Diversified Telecommunication Services - 1.9%
Level 3 Communications, Inc. (a)	558,139		24,966
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - 2.5%
Independent Power and Renewable Electricity Producers - 1.2%
Calpine Corp. (a)	822,963		$ 13,118
The AES Corp.	283,300		3,400
			16,518
Multi-Utilities - 1.3%
Sempra Energy	179,639		17,039
TOTAL UTILITIES			33,557
TOTAL COMMON STOCKS (Cost $828,193)		1,306,584

Nonconvertible Bonds - 0.3%
	Principal Amount (000s)
ENERGY - 0.3%
Oil, Gas & Consumable Fuels - 0.3%
Peabody Energy Corp. 6.25% 11/15/21 (Cost $14,192)	$ 15,405	4,044

Money Market Funds - 3.5%
	Shares
Fidelity Cash Central Fund, 0.15% (b)	23,281,777		23,282
Fidelity Securities Lending Cash Central Fund, 0.19% (b)(c)	23,909,989		23,910
TOTAL MONEY MARKET FUNDS (Cost $47,192)		47,192
TOTAL INVESTMENT PORTFOLIO - 101.8% (Cost $889,577)			1,357,820
NET OTHER ASSETS (LIABILITIES) - (1.8)%			(23,990)
NET ASSETS - 100%		$ 1,333,830

Legend

(a) Non-income producing

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

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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 39
Fidelity Securities Lending Cash Central Fund	667
Total	$ 706

Other Information

The following is a summary of the inputs used, as of August 31, 2015, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 321,197	$ 321,197	$ -	$ -
Consumer Staples	101,043	101,043	-	-
Energy	48,734	48,734	-	-
Financials	189,268	189,268	-	-
Health Care	219,650	219,650	-	-
Industrials	96,147	96,147	-	-
Information Technology	144,801	144,801	-	-
Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Materials	$ 127,221	$ 127,221	$ -	$ -
Telecommunication Services	24,966	24,966	-	-
Utilities	33,557	33,557	-	-
Corporate Bonds	4,044	-	4,044	-
Money Market Funds	47,192	47,192	-	-
Total Investments in Securities:	$ 1,357,820	$ 1,353,776	$ 4,044	$ -

Income Tax Information

At August 31, 2015, the cost of investment securities for income tax purposes was $892,123,000. Net unrealized appreciation aggregated $465,697,000, of which $501,529,000 related to appreciated investment securities and $35,832,000 related to depreciated investment securities.

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Investments August 31, 2015 (Unaudited)

Quarterly Holdings Report

for

Fidelity ® Real Estate High
Income Fund

August 31, 2015

1.805767.111

REHI-QTLY-1015

Investments August 31, 2015 (Unaudited)

Showing Percentage of Net Assets

Nonconvertible Bonds - 4.3%
		Principal Amount (c)		Value
Healthcare - 1.0%
Omega Healthcare Investors, Inc.:
4.95% 4/1/24		$ 311,000		$ 320,043
5.875% 3/15/24		1,790,000		1,883,975
6.75% 10/15/22		1,230,000		1,276,125
Sabra Health Care LP/Sabra Capital Corp. 5.375% 6/1/23		3,000,000		3,105,000
Senior Housing Properties Trust 6.75% 4/15/20		3,000,000		3,345,087
				9,930,230
Homebuilders/Real Estate - 1.6%
CBRE Group, Inc. 5% 3/15/23		2,325,000		2,347,153
DDR Corp.:
4.625% 7/15/22		288,000		299,454
7.875% 9/1/20		2,437,000		2,963,731
Howard Hughes Corp. 6.875% 10/1/21 (d)		1,715,000		1,787,888
Hunt Companies, Inc. 9.625% 3/1/21 (d)		4,235,000		4,065,600
Realogy Group LLC/Realogy Co.-Issuer Corp. 4.5% 4/15/19 (d)		1,170,000		1,177,313
Standard Pacific Corp. 8.375% 5/15/18		1,000,000		1,130,000
Ventas Realty LP/Ventas Capital Corp. 4.25% 3/1/22		1,000,000		1,036,801
Wrightwood Capital LLC 1.9% 4/20/20 (b)		3,507		117,484
				14,925,424
Hotels - 1.7%
ESH Hospitality, Inc. 5.25% 5/1/25 (d)		4,250,000		4,122,500
FelCor Lodging LP 5.625% 3/1/23		755,000		777,650
Host Hotels & Resorts LP:
4.75% 3/1/23		890,000		926,836
6% 11/1/20		805,000		832,758
RHP Hotel Properties LP/RHP Finance Corp. 5% 4/15/23 (d)		2,300,000		2,277,000
Times Square Hotel Trust 8.528% 8/1/26 (d)		6,480,952		7,853,463
				16,790,207
TOTAL NONCONVERTIBLE BONDS (Cost $39,218,409)			41,645,861
Asset-Backed Securities - 2.2%

American Homes 4 Rent:
Series 2014-SFR1 Class E, 2.75% 6/17/31 (d)(e)		1,000,000		952,700
Series 2014-SFR2 Class E, 6.231% 10/17/36 (d)		672,000		689,108
Series 2014-SFR3 Class E, 6.418% 12/17/36 (d)		1,864,000		1,941,717
Asset-Backed Securities - continued
		Principal Amount (c)		Value
American Homes 4 Rent: - continued
Series 2015-SFR1 Class E, 5.639% 4/17/52 (d)		$ 1,371,223		$ 1,344,450
Argent Securities, Inc. pass-thru certificates Series 2004-W9 Class M7, 4.3994% 6/26/34 (d)(e)		73,793		13,573
Capital Trust RE CDO Ltd. Series 2005-1A:
Class D, 1.7028% 3/20/50 (d)(e)		750,000		75
Class E, 2.3028% 3/20/50 (d)(e)		3,000,000		300
Crest Clarendon Street Ltd./Crest Clarendon Corp. Series 2002-1A Class D, 9% 12/28/35 (d)		4,026,833		3,754,619
Crest Ltd.:
Series 2000-1A Class D, 10% 8/31/36 (d)		634,812		63
Series 2004-1A Class H1, 3.9836% 1/28/40 (d)(e)		2,658,666		266
Fairfield Street Solar Corp. Series 2004-1A:
Class E1, 3.6902% 11/28/39 (d)(e)		1,112,405		631,290
Class F, 5.1902% 11/28/39 (d)(e)		1,293,792		656,599
Invitation Homes Trust:
Series 2013-SFR1 Class F, 3.9% 12/17/30 (d)(e)		600,000		580,858
Series 2014-SFR1:
Class E, 3.436% 6/17/31 (d)(e)		2,500,000		2,443,070
Class F, 3.936% 6/17/31 (d)(e)		2,431,000		2,351,301
Series 2014-SFR3 Class E, 4.705% 12/17/31 (d)(e)		943,000		950,315
Series 2014-SRF2 Class F, 4.188% 9/17/31 (d)(e)		1,000,000		970,844
Series 2015-SRF1 Class E, 4.386% 3/17/32 (d)(e)		1,000,000		995,923
Merit Securities Corp. Series 13 Class M1, 7.845% 12/28/33 (e)		1,665,000		1,746,387
Residential Asset Securities Corp. Series 2003-KS10 Class MI3, 6.41% 12/25/33		258,036		230,538
Resource Real Estate Funding CDO Series 2007-1A Class J, 3.1494% 9/25/46 (d)(e)		1,190,000		299,880
Taberna Preferred Funding III Ltd. Series 2005-3A:
Class D, 2.9537% 2/5/36 (d)(e)		2,577,237		258
Class E, 4.8037% 2/5/36 (d)(e)		783,358		78
Taberna Preferred Funding VI Ltd. Series 2006-6A Class F1, 4.8037% 12/5/36 (d)(e)		4,634,803		463
Wrightwood Capital Real Estate CDO Ltd. Series 2005-1A Class A1, 0.6534% 11/21/40 (d)(e)		633,482		618,089
TOTAL ASSET-BACKED SECURITIES (Cost $32,560,633)			21,172,764
Collateralized Mortgage Obligations - 1.4%
		Principal Amount (c)		Value
Private Sponsor - 1.4%
Countrywide Home Loans, Inc.:
Series 2002-R2 Class 2B4, 3.5952% 7/25/33 (d)(e)		$ 22,357		$ 568
Series 2003-R1:
Class 2B4, 3.1934% 2/25/43 (d)(e)		60,228		32,084
Class 2B5, 3.1934% 2/25/43 (d)(e)		155,119		39,097
Credit Suisse First Boston Mortgage Acceptance Corp. Series 2004-6 Class B4, 4.7493% 9/25/19 (d)(e)		15,818		64
Credit Suisse First Boston Mortgage Securities Corp. Series 2002-26 Class 4B3, 7% 10/25/17		66,137		56,348
FREMF Mortgage Trust:
Series 2010-K6 Class B, 5.3578% 12/25/46 (d)(e)		6,045,000		6,670,289
Series 2010-K7 Class B, 5.4406% 4/25/20 (d)(e)		5,000,000		5,579,605
Merrill Lynch Mortgage Investors Trust Series 1998-C3 Class F, 6% 12/15/30 (d)		860,041		880,591
Nomura Asset Acceptance Corp. Series 2001-R1A Class B1, 6.8326% 2/19/30 (d)(e)		87,624		7,208
RESI Finance LP/RESI Finance DE Corp. floater Series 2003-B Class B9, 12.1385% 6/10/35 (d)(e)		200,997		215,588
RESIX Finance Ltd. floater:
Series 2003-D Class B9, 11.6854% 12/10/35 (d)(e)		89,878		19,653
Series 2004-A:
Class B7, 4.4354% 2/10/36 (d)(e)		97,046		32,154
Class B9, 9.1854% 2/10/36 (d)(e)		157,992		30,058
Series 2004-B:
Class B8, 4.9354% 2/10/36 (d)(e)		84,655		29,380
Class B9, 8.4354% 2/10/36 (d)(e)		143,668		42,248
Series 2004-C:
Class B7, 3.6854% 9/10/36 (d)(e)		534,614		125,106
Class B8, 4.4385% 9/10/36 (d)(e)		230,036		3,534
TOTAL PRIVATE SPONSOR				13,763,575
U.S. Government Agency - 0.0%
Fannie Mae REMIC Trust:
Series 2001-W3 subordinate REMIC pass thru certificates:
Class B3, 7% 9/25/41 (g)		262,369		71,147
Class B4, 6.9757% 9/25/41 (g)		45,536		3,079
Series 2002-W1 subordinate REMIC pass thru certificates:
Class 3B3, 3.0662% 2/25/42 (d)(e)		71,471		55,359
Class 3B5, 3.0662% 2/25/42 (d)(e)		47,849		1,791
Collateralized Mortgage Obligations - continued
		Principal Amount (c)		Value
U.S. Government Agency - continued
Fannie Mae REMIC Trust: - continued
Series 2002-W6 subordinate REMIC pass thru certificates, Class 3B4, 3.2671% 1/25/42 (d)(e)		$ 62,911		$ 33,442
Series 2003-W1 subordinate REMIC pass thru certificates, Class B3, 4.3235% 12/25/42 (e)(g)		992,944		59,867
Series 2003-W10 subordinate REMIC pass thru certificates:
Class 2B4, 3.0632% 6/25/43 (e)(g)		217,836		91,893
Class 2B5, 3.0632% 6/25/43 (e)(g)		153,835		20,062
TOTAL U.S. GOVERNMENT AGENCY				336,640
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $13,529,601)			14,100,215
Commercial Mortgage Securities - 75.8%

Americold LLC Trust Series 2010-ARTA Class D, 7.443% 1/14/29 (d)		1,230,000		1,374,725
Asset Securitization Corp. Series 1997-D4 Class B5, 7.525% 4/14/29		4,476,925		4,507,189
Aventura Mall Trust Series 2013-AVM Class E, 3.7427% 12/5/32 (d)(e)		5,000,000		4,902,343
Banc of America Commercial Mortgage Trust:
sequential payer:
Series 2005-4 Class AJ, 5.038% 7/10/45 (e)		1,476,858		1,476,030
Series 2006-4 Class AM, 5.675% 7/10/46		4,000,000		4,137,792
Series 2005-1 Class CJ, 5.3371% 11/10/42 (e)		1,284,693		1,283,281
Series 2005-5 Class D, 5.3247% 10/10/45 (e)		2,250,000		2,257,108
Series 2005-6 Class AJ, 5.1559% 9/10/47 (e)		2,000,000		2,010,722
Series 2008-1 Class D, 6.2584% 2/10/51 (d)(e)		1,970,000		1,503,728
Bear Stearns Commercial Mortgage Securities, Inc. Series 2006-PW11 Class AJ, 5.43% 3/11/39 (e)		3,175,000		3,209,821
Bear Stearns Commercial Mortgage Securities Trust:
Series 1999-C1 Class I, 5.64% 2/14/31 (d)		1,808,035		1,791,405
Series 2006-T22 Class B, 5.5924% 4/12/38 (d)(e)		1,370,000		1,420,838
Beckman Coulter, Inc. sequential payer Series 2000-A Class A, 7.4975% 12/15/18 (d)		5,633,169		6,017,999
Berkeley Federal Bank & Trust FSB Series 1994-1 Class B, 0% 8/1/24 (d)(e)		24,669		17,934
BKB Commercial Mortgage Trust Series 1997-C1 Class H, 0.437% 10/25/22 (d)(e)		28,592		24,688
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
BLCP Hotel Trust:
floater Series 2014-CLRN Class F, 3.2316% 8/15/29 (d)(e)		$ 2,591,000		$ 2,503,852
Series 2014-CLMZ Class M, 5.9255% 8/15/29 (d)(e)		7,452,240		7,401,360
Boca Hotel Portfolio Trust Series 2013-BOCA Class E, 3.9476% 8/15/26 (d)(e)		1,750,000		1,748,472
Carefree Portfolio Trust floater:
Series 2014-CARE:
Class E, 4.198% 11/15/19 (d)(e)		7,650,000		7,691,907
Class F, 2.7817% 11/15/19 (d)(e)		548,000		534,930
Series 2014-CMZA Class MZA, 6.1745% 11/15/19 (d)(e)		2,629,000		2,625,488
Carefree Portfolio Trust 2014-Car floater Series 2014-CMZB Class MZB, 7.9199% 11/15/29 (d)(e)		2,680,000		2,674,445
CG-CCRE Commercial Mortgage Trust:
Series 2014-FL1:
Class YTC2, 2.6745% 6/15/31 (d)(e)		2,431,000		2,344,026
Class YTC3, 2.6745% 6/15/31 (d)(e)		874,000		831,068
Series 2014-FL1, 2.6745% 6/15/31 (d)(e)		2,431,000		2,372,629
CGBAM Commercial Mortgage Trust Series 2015-SMRT Class F, 3.7859% 4/10/28 (d)(e)		3,000,000		2,853,222
Chase Commercial Mortgage Securities Corp.:
Series 1998-1 Class H, 6.34% 5/18/30 (d)		3,300,000		3,463,964
Series 1998-2 Class J, 6.39% 11/18/30 (d)		3,329,253		2,994,696
Citigroup Commercial Mortgage Trust:
Series 2013-GC15 Class D, 5.1051% 9/10/46 (d)(e)		4,860,000		4,727,094
Series 2015-SHP2 Class E, 4.535% 7/15/27 (d)(e)		6,300,000		6,285,252
COMM Mortgage Trust:
floater Series 2014-PAT Class E, 3.336% 8/13/27 (d)(e)		3,339,000		3,303,693
sequential payer Series 2013-LC6 Class E, 3.5% 1/10/46 (d)		5,250,000		4,183,641
Series 2012-CR5 Class D, 4.3356% 12/10/45 (d)(e)		1,550,000		1,558,062
Series 2013-CR10:
Class C, 4.7925% 8/10/46 (d)(e)		1,310,000		1,352,328
Class D, 4.7925% 8/10/46 (d)(e)		3,910,000		3,679,288
Series 2013-CR12 Class D, 5.0847% 10/10/46 (d)(e)		7,745,000		7,633,557
Series 2013-CR9 Class D, 4.2581% 7/10/45 (d)(e)		3,596,000		3,374,770
Series 2013-LC6 Class D, 4.2865% 1/10/46 (d)(e)		5,429,000		5,112,516
Series 2014-CR15 Class D, 4.7657% 2/10/47 (d)(e)		1,273,000		1,229,477
Series 2014-CR17 Class D, 4.7994% 5/10/47 (d)(e)		2,720,000		2,571,077
Series 2014-UBS2 Class D, 5.0154% 3/10/47 (d)(e)		4,146,000		3,919,446
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
COMM Mortgage Trust: - continued
Series 2015-CR23 Class CME, 3.6845% 5/10/48 (d)(e)		$ 1,991,000		$ 1,829,608
Commercial Mortgage Acceptance Corp. Series 1998-C2 Class J, 5.44% 9/15/30 (d)		6,316,326		6,078,965
Commercial Mortgage Asset Trust Series 1999-C2:
Class G, 6% 11/17/32		2,325,000		2,518,362
Class H, 6% 11/17/32		3,121,575		3,306,033
Commercial Mortgage Trust pass-thru certificates:
Series 2012-CR1:
Class C, 5.3592% 5/15/45 (e)		2,060,000		2,234,385
Class D, 5.3592% 5/15/45 (d)(e)		6,994,000		7,163,591
Series 2012-CR2:
Class E, 4.8572% 8/15/45 (d)(e)		6,370,000		6,257,977
Class F, 4.25% 8/15/45 (d)		7,900,000		7,170,064
Series 2012-LC4 Class D, 5.6452% 12/10/44 (d)(e)		6,624,000		6,976,516
Series 2014-CR2 Class G, 4.25% 8/15/45 (d)		1,500,000		1,181,415
Core Industrial Trust:
Series 2015-CALW Class G, 3.8504% 2/10/34 (d)(e)		2,292,000		2,095,740
Series 2015-WEST Class F, 4.2268% 2/10/37 (d)(e)		2,985,000		2,636,295
Credit Suisse First Boston Mortgage Securities Corp.:
Series 1998-C1:
Class F, 6% 5/17/40 (d)		6,118,983		6,509,564
Class H, 6% 5/17/40 (d)		2,501,042		2,082,835
Series 1998-C2:
Class F, 6.75% 11/15/30 (d)		3,274,506		3,355,304
Class G, 6.75% 11/15/30 (d)		1,065,000		1,129,275
Series 2002-CKP1 Class KZ, 6.294% 12/15/35 (d)(e)		2,173,216		2,182,533
CSMC Trust floater Series 2015-DEAL:
Class E, 4.198% 4/15/29 (d)(e)		1,000,000		990,285
Class F, 4.948% 4/15/29 (d)(e)		4,000,000		3,961,572
DBCCRE Mortgage Trust Series 2014-ARCP Class E, 4.9345% 1/10/34 (d)(e)		3,040,000		2,846,544
DBUBS Mortgage Trust Series 2011-LC1A:
Class D, 5.5569% 11/10/46 (d)(e)		1,000,000		1,094,045
Class E, 5.5569% 11/10/46 (d)(e)		6,853,000		7,395,196
Class F, 5.5569% 11/10/46 (d)(e)		7,806,000		7,779,436
Class G, 4.652% 11/10/46 (d)		8,160,000		7,072,566
First Union-Lehman Brothers-Bank of America Commercial Mortgage Trust sequential payer Series 1998-C2 Class G, 7% 11/18/35 (d)(e)		161,905		161,527
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
Freddie Mac:
pass-thru certificates Series K013 Class X3, 2.8069% 1/25/43 (e)(f)		$ 5,370,000		$ 726,685
Series KAIV Class X2, 3.6147% 6/25/46 (e)(f)		2,780,000		493,927
FREMF Mortgage Trust:
Series 2010-K9 Class B, 5.1937% 9/25/45 (d)(e)		2,300,000		2,526,375
Series 2011-K10 Class B, 4.6215% 11/25/49 (d)(e)		1,650,000		1,768,708
Series 2011-K11 Class B, 4.4209% 12/25/48 (d)(e)		3,190,000		3,393,197
GAHR Commercial Mortgage Trust Series 2015-NRF:
Class EFX, 3.3822% 12/15/19 (d)(e)		1,000,000		934,852
Class FFX, 3.3822% 12/15/19 (d)(e)		1,721,000		1,578,000
GCCFC Commercial Mortgage Trust Series 2005-GG3:
Class B, 4.894% 8/10/42 (e)		96,772		96,747
Class J, 4.685% 8/10/42 (d)(e)		900,000		6,438
Class K, 4.685% 8/10/42 (d)(e)		581,884		291
GE Capital Commercial Mortgage Corp. Series 2005-C3 Class J, 5.1414% 7/10/45 (d)(e)		2,277,000		1,711,096
GMAC Commercial Mortgage Securities, Inc.:
Series 1997-C1 Class H, 6.6% 7/15/29		2,588,844		2,314,789
Series 1997-C2:
Class G, 6.75% 4/15/29 (e)		1,762,854		1,862,726
Class H, 6.75% 4/15/29 (e)		6,130,384		5,316,936
Series 1999-C2I Class K, 6.481% 9/15/33		7,875,000		7,131,758
Series 1999-C3 Class K, 6.974% 8/15/36 (d)		32,582		32,270
GP Portfolio Trust Series 2014-GPP:
Class D, 2.938% 2/15/27 (d)(e)		2,691,000		2,680,337
Class E, 4.0373% 2/15/27 (d)(e)		1,717,000		1,708,700
GS Mortgage Securities Corp. II:
Series 2004-GG2:
Class J, 5.067% 8/10/38 (d)(e)		420,000		86,031
Class K, 5.067% 8/10/38 (d)(e)		410,782		35,748
Series 2010-C1:
Class D, 6.0843% 8/10/43 (d)(e)		4,985,000		5,394,697
Class E, 4% 8/10/43 (d)		5,951,000		5,482,508
Class F, 4% 8/10/43 (d)		3,909,000		3,306,916
GS Mortgage Securities Trust:
Series 2010-C2 Class D, 5.2456% 12/10/43 (d)(e)		4,100,000		4,333,774
Series 2011-GC5:
Class C, 5.3081% 8/10/44 (d)(e)		5,010,000		5,427,954
Class D, 5.3081% 8/10/44 (d)(e)		2,720,000		2,801,684
Class E, 5.3081% 8/10/44 (d)(e)		966,000		943,862
Class F, 4.5% 8/10/44 (d)		4,500,000		3,718,458
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
GS Mortgage Securities Trust: - continued
Series 2012-GC6:
Class D, 5.6315% 1/10/45 (d)(e)		$ 2,364,000		$ 2,431,900
Class E, 5% 1/10/45 (d)(e)		1,822,000		1,681,507
Series 2012-GC6I Class F, 5% 1/10/45 (e)		1,810,000		1,495,105
Series 2012-GCJ7:
Class C, 5.7229% 5/10/45 (e)		5,830,000		6,391,469
Class D, 5.7229% 5/10/45 (d)(e)		6,042,000		6,192,112
Class E, 5% 5/10/45 (d)		6,263,000		5,730,472
Class F, 5% 5/10/45 (d)		8,442,000		6,831,195
Series 2012-GCJ9 Class D, 4.8533% 11/10/45 (d)(e)		1,389,000		1,345,312
Series 2013-GC12 Class D, 4.4768% 6/10/46 (d)(e)		1,043,000		977,167
Series 2013-GC13 Class D, 4.0697% 7/10/46 (d)(e)		5,214,000		4,707,575
Series 2013-GC16:
Class D, 5.3156% 11/10/46 (d)(e)		4,541,000		4,412,281
Class F, 3.5% 11/10/46 (d)		3,037,000		2,306,762
Hilton U.S.A. Trust:
floater Series 2014-ORL Class E, 3.438% 7/15/29 (d)(e)		2,884,000		2,897,278
Series 2013-HLT Class EFX, 4.4533% 11/5/30 (d)(e)		8,062,000		8,085,218
JPMBB Commercial Mortgage Securities Trust Series 2014-C22 Class D, 4.5612% 9/15/47 (d)(e)		2,472,000		2,155,258
JPMorgan Chase Commercial Mortgage Securities Corp.:
floater Series 2011-CCHP Class E, 5.15% 7/15/28 (d)(e)		2,000,000		2,007,758
Series 2003-C1:
Class D, 5.192% 1/12/37		82,943		82,823
Class F, 5.6404% 1/12/37 (d)(e)		805,000		792,925
Series 2009-IWST:
Class C, 7.4453% 12/5/27 (d)(e)		2,260,000		2,663,995
Class D, 7.4453% 12/5/27 (d)(e)		10,670,000		12,549,805
Series 2010-CNTR Class D, 6.1838% 8/5/32 (d)(e)		4,170,000		4,760,376
Series 2012-CBX:
Class D, 5.2386% 6/16/45 (d)(e)		4,050,000		4,144,535
Class E, 5.2386% 6/15/45 (d)(e)		1,795,000		1,758,463
Class F, 4% 6/15/45 (d)		3,759,000		3,357,336
Class G 4% 6/15/45 (d)		4,957,000		3,539,882
JPMorgan Chase Commercial Mortgage Securities Trust:
floater:
Series 2014-FBLU Class E, 3.6873% 12/15/28 (d)(e)		5,186,000		5,160,072
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
JPMorgan Chase Commercial Mortgage Securities Trust: - continued
floater:
Series 2014-INN:
Class E, 3.798% 6/15/29 (d)(e)		$ 3,280,000		$ 3,266,106
Class F, 4.198% 6/15/29 (d)(e)		4,791,000		4,713,113
Series 2004-CBX Class D, 5.097% 1/12/37 (e)		1,215,000		1,210,050
Series 2005-LDP2 Class C, 4.911% 7/15/42 (e)		3,275,000		3,283,256
Series 2005-LDP5:
Class AJ, 5.3599% 12/15/44 (e)		2,020,000		2,036,944
Class B, 5.3939% 12/15/44 (e)		1,500,000		1,517,753
Series 2011-C4:
Class E, 5.4158% 7/15/46 (d)(e)		6,160,000		6,368,750
Class F, 3.873% 7/15/46 (d)		555,000		509,878
Class H, 3.873% 7/15/46 (d)		3,221,000		2,634,691
Class NR, 3.873% 7/15/46 (d)		1,588,500		1,048,584
Class TAC2, 7.99% 7/15/46 (d)		3,196,000		3,381,174
Series 2011-C5:
Class C, 5.3229% 8/15/46 (d)(e)		5,803,234		6,258,121
Class D, 5.3229% 8/15/46 (d)(e)		2,000,000		2,049,842
Series 2013-LC11 Class F, 3.25% 4/15/46 (d)(e)		7,077,000		5,086,279
Series 2014-DSTY:
Class D, 3.8046% 6/10/27 (d)(e)		3,858,000		3,762,977
Class E, 3.8046% 6/10/27 (d)(e)		4,116,000		3,860,680
JPMorgan Commercial Mortgage Finance Corp. Series 1999-C8 Class H, 6% 7/15/31 (d)		749,000		698,540
LB Commercial Conduit Mortgage Trust Series 1998-C1 Class K, 6.3% 2/18/30 (d)		1,633,078		1,434,853
LB Multi-family Mortgage Trust Series 1991-4 Class A1, 7.125% 4/25/21 (e)		6,313		6,305
LB-UBS Commercial Mortgage Trust:
sequential payer:
Series 2005-C7 Class AJ, 5.323% 11/15/40 (e)		7,024,000		7,035,709
Series 2006-C6 Class AM, 5.413% 9/15/39		5,000,000		5,181,500
Series 2006-C7 Class AM, 5.378% 11/15/38		1,160,000		1,199,788
Series 2005-C1 Class E, 4.924% 2/15/40		1,960,271		1,960,429
Series 2005-C7 Class C, 5.35% 11/15/40 (e)		1,900,000		1,909,443
Series 2006-C4:
Class AJ, 5.8521% 6/15/38 (e)		6,665,000		6,815,716
Class AM, 5.8521% 6/15/38 (e)		3,840,000		3,951,944
LSTAR Commercial Mortgage Trust:
Series 2011-1 Class D, 5.4769% 6/25/43 (d)(e)		445,039		444,687
Series 2014-2:
Class D, 5.0498% 1/20/41 (d)(e)		1,228,000		1,158,523
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
LSTAR Commercial Mortgage Trust: - continued
Series 2014-2:
Class E, 5.0498% 1/20/41 (d)(e)		$ 1,913,000		$ 1,607,142
Mach One Trust LLC Series 2004-1A:
Class H, 6.0869% 5/28/40 (d)(e)		586,288		586,698
Class L, 5.45% 5/28/40 (d)(e)		1,393,000		1,352,185
Class M, 5.45% 5/28/40 (d)(e)		1,533,000		1,434,428
Merrill Lynch Financial Asset, Inc. Series 2005-CA17:
Class F, 4.525% 11/12/37 (e)	CAD	812,000		606,542
Class G, 4.525% 11/12/37 (e)	CAD	846,000		627,792
Class H, 4.525% 11/12/37 (e)	CAD	235,000		171,330
Class J, 4.525% 11/12/37 (e)	CAD	248,000		176,405
Class K, 4.525% 11/12/37 (e)	CAD	261,000		183,475
Class L, 4.525% 11/12/37 (e)	CAD	248,000		172,302
Class M, 4.525% 11/12/37 (e)	CAD	2,006,355		1,293,148
Merrill Lynch Mortgage Investors Trust Series 1997-C2 Class F, 6.25% 12/10/29 (e)		2,152,910		2,151,855
Merrill Lynch Mortgage Trust:
Series 05-LC1 Class AJ, 5.3621% 1/12/44 (e)		1,440,000		1,451,058
Series 2002-MW1 Class H, 5.695% 7/12/34 (d)		195,649		196,636
Series 2006-C1:
Class AJ, 5.6761% 5/12/39 (e)		3,440,000		3,460,870
Class AM, 5.6761% 5/12/39 (e)		700,000		715,330
Mezz Capital Commercial Mortgage Trust:
Series 2004-C1 Class IO, 9.0009% 1/15/37 (d)(e)(f)		48,464		3,092
Series 2004-C2:
Class D, 7.347% 10/15/40 (d)		1,074,000		107
Class E, 8.309% 10/15/40 (d)		61,817		6
Morgan Stanley BAML Trust:
sequential payer Series 2014-C18 Class 300E, 4.6896% 8/15/31 (d)		2,000,000		1,800,600
Series 2012-C6 Class D, 4.8133% 11/15/45 (d)(e)		4,361,000		4,442,115
Series 2013-C12 Class D, 4.767% 10/15/46 (d)(e)		4,000,000		3,885,000
Series 2013-C13:
Class D, 4.8945% 11/15/46 (d)(e)		3,975,000		3,870,358
Class E, 4.8945% 11/15/46 (d)(e)		2,000,000		1,799,048
Series 2013-C7:
Class D, 4.2973% 2/15/46 (d)(e)		4,540,000		4,355,867
Class E, 4.2973% 2/15/46 (d)(e)		1,580,000		1,418,105
Series 2013-C8 Class D, 4.17% 12/15/48 (d)(e)		2,260,000		2,104,238
Series 2013-C9:
Class C, 4.2082% 5/15/46 (e)		3,070,000		3,019,366
Class D, 4.1578% 5/15/46 (d)(e)		5,300,000		4,938,021
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
Morgan Stanley Capital I Trust:
floater Series 2006-XLF Class J, 0.6155% 7/15/19 (d)(e)		$ 2,609,698		$ 2,603,213
sequential payer:
Series 2006-HQ10 Class AM, 5.36% 11/12/41		4,640,000		4,818,069
Series 2006-HQ9 Class AM, 5.773% 7/12/44		1,098,000		1,128,397
Series 2012-C4 Class E, 5.5247% 3/15/45 (d)(e)		3,800,000		3,921,615
Series 1997-RR:
Class F, 7.4369% 4/30/39 (d)(e)		436,724		438,340
Class G1, 7.4369% 4/30/39 (d)(e)		887,484		98,777
Series 1998-CF1 Class G, 7.35% 7/15/32 (d)		1,482,064		1,488,109
Series 1999-CAM1:
Class M, 6.54% 3/15/32 (d)		2,262,373		2,198,465
Class N, 6.54% 3/15/32 (d)		109,942		29,486
Series 1999-WF1:
Class L, 5.91% 11/15/31 (d)		251,337		252,577
Class N, 5.91% 11/15/31 (d)		1,600,000		1,596,658
Class O, 5.91% 11/15/31 (d)		1,240,426		1,025,058
Series 2004-IQ7 Class G, 5.1708% 6/15/38 (d)(e)		1,140,000		1,197,214
Series 2006-IQ12 Class AMFX, 5.37% 12/15/43		5,000,000		5,221,655
Series 2011-C1:
Class C, 5.3313% 9/15/47 (d)(e)		2,050,000		2,246,427
Class D, 5.3313% 9/15/47 (d)(e)		10,522,000		11,340,275
Class E, 5.3313% 9/15/47 (d)(e)		1,500,000		1,541,165
Series 2011-C2:
Class D, 5.3029% 6/15/44 (d)(e)		3,830,000		4,091,436
Class E, 5.3029% 6/15/44 (d)(e)		4,900,000		5,142,878
Class F, 5.3029% 6/15/44 (d)(e)		3,620,000		3,533,004
Series 2011-C3:
Class C, 5.1784% 7/15/49 (d)(e)		1,920,000		2,071,275
Class D, 5.1784% 7/15/49 (d)(e)		7,530,000		8,000,557
Class E, 5.1784% 7/15/49 (d)(e)		2,630,000		2,766,444
Class G, 5.1784% 7/15/49 (d)(e)		3,909,000		3,479,268
Series 2012-C4:
Class D, 5.7088% 3/15/45 (d)(e)		1,950,000		2,085,710
Class F, 3.07% 3/15/45 (d)		1,500,000		1,257,693
Series 2015-MS1:
Class C, 4.1633% 5/15/48 (e)		3,074,000		2,788,960
Class D, 4.163% 5/15/48 (d)		1,831,000		1,491,395
Morgan Stanley Dean Witter Capital I Trust Series 2001-TOP3 Class E, 7.5079% 7/15/33 (d)(e)		1,130,000		1,262,199
Motel 6 Trust Series 2015-MTL6:
Class E, 5.2785% 2/5/30 (d)		7,230,000		7,063,009
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
Motel 6 Trust Series 2015-MTL6: - continued
Class F, 5% 2/5/30 (d)		$ 2,161,000		$ 2,085,877
NationsLink Funding Corp. Series 1999-LTL1:
Class C, 7.399% 1/22/26 (d)		1,378,000		1,426,368
Class D, 6.45% 1/22/26 (d)		3,660,000		3,945,416
Providence Place Group Ltd. Partnership Series 2000-C1 Class A2, 7.75% 7/20/28 (d)		2,745,010		3,482,595
Real Estate Asset Liquidity Trust:
Series 2006-2:
Class F, 4.456% 9/12/38	CAD	1,170,000		902,410
Class G, 4.456% 9/12/38	CAD	585,000		446,060
Class H, 4.456% 9/12/38	CAD	390,000		289,577
Class J, 4.456% 9/12/38	CAD	390,000		281,211
Class K, 4.456% 9/12/38	CAD	195,000		136,316
Class L, 4.456% 9/12/38	CAD	281,000		185,215
Class M, 4.456% 9/12/38	CAD	1,134,647		688,792
Series 2007-1:
Class F, 4.57% 4/12/23	CAD	1,515,000		1,170,636
Class G, 4.57% 4/12/23	CAD	505,000		387,241
Class H, 4.57% 4/12/23	CAD	505,000		384,304
Class J, 4.57% 4/12/23	CAD	505,000		381,395
Class K, 4.57% 4/12/23	CAD	253,000		189,631
Class L, 4.57% 4/12/23	CAD	757,000		563,118
Class M, 4.57% 4/12/23	CAD	1,864,935		1,212,435
SCG Trust Series 2013-SRP1 Class D, 3.531% 11/15/26 (d)(e)		5,190,000		5,188,272
Starwood Retail Property Trust Series 2014-STAR Class D, 3.4476% 11/15/27 (d)(e)		1,000,000		994,188
TIAA Seasoned Commercial Mortgage Trust:
sequential payer Series 2007-C4 Class AJ, 5.4769% 8/15/39 (e)		2,199,777		2,206,902
Series 2007-C4 Class F, 5.4769% 8/15/39 (e)		5,345,000		5,093,716
TimberStar Trust I Series 2006-1 Class F, 7.5296% 10/15/36 (d)		1,530,000		1,566,606
UBS Commercial Mortgage Trust Series 2012-C1 Class D, 5.5422% 5/10/45 (d)(e)		5,491,000		5,752,459
UBS-BAMLL Trust:
Series 12-WRM Class D, 4.238% 6/10/30 (d)(e)		1,550,000		1,501,169
Series 2012-WRM Class C, 4.238% 6/10/30 (d)(e)		1,000,000		986,485
Wachovia Bank Commercial Mortgage Trust Series 2004-C11:
Class D, 5.1404% 1/15/41 (e)		2,720,000		2,759,704
Class E, 5.1904% 1/15/41 (e)		2,465,000		2,497,846
Commercial Mortgage Securities - continued
		Principal Amount (c)		Value
Wells Fargo Commercial Mortgage Trust:
Series 2010-C1 Class XB, 0.5751% 11/15/43 (d)(e)(f)		$ 26,055,541		$ 705,297
Series 2012-LC5 Class D, 4.7772% 10/15/45 (d)(e)		6,749,000		6,684,345
WF-RBS Commercial Mortgage Trust:
sequential payer Series 2011-C4I Class G, 5% 6/15/44 (d)		1,502,600		1,248,546
Series 2011-C3:
Class C, 5.335% 3/15/44 (d)		2,240,000		2,402,817
Class D, 5.549% 3/15/44 (d)(e)		3,984,000		4,254,350
Class E, 5% 3/15/44 (d)		1,510,000		1,453,875
Class F, 5% 3/15/44 (d)		2,907,350		2,394,846
Series 2011-C4:
Class D, 5.2658% 6/15/44 (d)(e)		1,940,000		2,076,033
Class E, 5.2658% 6/15/44 (d)(e)		2,554,000		2,667,438
Series 2011-C5:
Class C, 5.6346% 11/15/44 (d)(e)		1,670,000		1,831,965
Class D, 5.6346% 11/15/44 (d)(e)		3,575,000		3,909,641
Class E, 5.6346% 11/15/44 (d)(e)		2,581,655		2,752,096
Class F, 5.25% 11/15/44 (d)(e)		4,587,000		4,441,331
Class G, 5.25% 11/15/44 (d)(e)		1,507,150		1,328,627
Series 2012-C10:
Class D, 4.4569% 12/15/45 (d)(e)		2,130,000		2,042,378
Class E, 4.4569% 12/15/45 (d)(e)		5,765,000		5,042,905
Class F, 4.4569% 12/15/45 (d)(e)		7,537,000		5,935,094
Series 2012-C6 Class D, 5.5612% 4/15/45 (d)(e)		3,250,000		3,360,331
Series 2012-C7:
Class C, 4.8388% 6/15/45 (e)		3,793,000		3,973,475
Class E, 4.8388% 6/15/45 (d)(e)		4,374,000		4,341,156
Class F, 4.5% 6/15/45 (d)		1,765,000		1,622,591
Class G, 4.5% 6/15/45 (d)		5,063,750		3,870,948
Series 2012-C8 Class D, 4.8753% 8/15/45 (d)(e)		1,000,000		1,046,384
Series 2013-C11:
Class D, 4.1805% 3/15/45 (d)(e)		2,240,000		2,134,960
Class E, 4.1805% 3/15/45 (d)(e)		6,000,000		5,105,148
Series 2013-C13 Class D, 4.1386% 5/15/45 (d)(e)		1,800,000		1,689,235
WFCG Commercial Mortgage Trust floater Series 2015-BXRP:
Class F, 3.9179% 11/15/29 (d)(e)		4,379,481		4,331,714
Class G, 3.2176% 11/15/29 (d)(e)		671,665		623,266
TOTAL COMMERCIAL MORTGAGE SECURITIES (Cost $687,534,244)			731,954,359

Preferred Stocks - 6.1%
	Shares		Value
Convertible Preferred Stocks - 0.4%
Homebuilders/Real Estate - 0.2%
Alexandria Real Estate Equities, Inc. Series D 7.00%	64,000		$ 1,750,003
Hotels - 0.2%
FelCor Lodging Trust, Inc. Series A, 1.95%	85,000		2,163,250
TOTAL CONVERTIBLE PREFERRED STOCKS			3,913,253
Nonconvertible Preferred Stocks - 5.7%
Homebuilders/Real Estate - 5.5%
Alexandria Real Estate Equities, Inc. Series E, 6.45%	79,400		2,072,340
Annaly Capital Management, Inc.:
Series A, 7.875%	108,781		2,732,579
Series C, 7.625%	48,000		1,183,200
Series D, 7.50%	34,028		833,346
CBL & Associates Properties, Inc.:
Series D, 7.375%	129,000		3,270,150
Series E, 6.625%	110,000		2,748,900
Cedar Shopping Centers, Inc. Series B, 7.25%	30,000		755,400
Corporate Office Properties Trust Series L, 7.375%	71,383		1,856,672
CYS Investments, Inc. Series B, 7.50%	102,500		2,266,275
DDR Corp. Series K, 6.25%	90,662		2,266,550
Digital Realty Trust, Inc. Series E, 7.00%	60,000		1,548,000
Equity Lifestyle Properties, Inc. Series C, 6.75%	70,428		1,810,704
Essex Property Trust, Inc. Series H, 7.125%	61,727		1,595,643
First Potomac Realty Trust 7.75%	80,000		2,032,000
Hersha Hospitality Trust Series B, 8.00%	80,827		2,061,897
MFA Financial, Inc. Series B, 7.50%	96,700		2,374,952
PS Business Parks, Inc.:
Series R, 6.875%	34,911		886,041
Series S, 6.45%	152,000		3,959,600
Public Storage:
Series P, 6.50%	72,680		1,852,613
Series R, 6.35%	47,500		1,233,100
Series S, 5.90%	50,000		1,272,000
Realty Income Corp. Series F, 6.625%	80,000		2,126,400
Regency Centers Corp. Series 6, 6.625%	34,710		904,196
Retail Properties America, Inc. 7.00%	135,649		3,459,050
Stag Industrial, Inc. Series A, 9.00%	60,000		1,653,600
Sun Communities, Inc. Series A, 7.125%	92,635		2,380,720
Taubman Centers, Inc. Series J, 6.50%	66,277		1,685,424
			52,821,352
Preferred Stocks - continued
	Shares		Value
Nonconvertible Preferred Stocks - continued
Hotels - 0.2%
Hospitality Properties Trust Series D, 7.125%	70,000		$ 1,841,000
TOTAL NONCONVERTIBLE PREFERRED STOCKS			54,662,352
TOTAL PREFERRED STOCKS (Cost $56,526,639)		58,575,605

Bank Loan Obligations - 3.0%
	Principal Amount (c)
Diversified Financial Services - 0.0%
Ocwen Loan Servicing, LLC Tranche B, term loan 5% 2/15/18 (e)	$ 179,434		178,185
Healthcare - 0.3%
Drumm Investors LLC Tranche B, term loan 6.75% 5/4/18 (e)	2,991,422		3,008,264
Homebuilders/Real Estate - 0.3%
CityCenter 8.74% 7/12/16 (e)	331,828		331,828
Realogy Group LLC Tranche B, term loan 3.75% 3/5/20 (e)	2,552,607		2,543,034
			2,874,862
Hotels - 1.8%
ESH Hospitality, Inc. Tranche B, term loan 5% 6/24/19 (e)	5,892,718		5,933,260
Hilton Worldwide Finance, LLC Tranche B, term loan 3.5% 10/25/20 (e)	5,121,711		5,110,494
La Quinta Intermediate Holdings LLC Tranche B LN, Tranche B, term loan 3.75% 4/14/21 (e)	4,745,808		4,731,950
Playa Resorts Holding BV Tranche B, term loan 4% 8/9/19 (e)	1,000,000		993,750
			16,769,454
Super Retail - 0.6%
JC Penney Corp., Inc. Tranche B, term loan 6% 5/22/18 (e)	5,769,461		5,753,249
TOTAL BANK LOAN OBLIGATIONS (Cost $28,563,523)		28,584,014
Preferred Securities - 0.1%
	Principal Amount (c)		Value
Homebuilders/Real Estate - 0.1%
Crest Clarendon Street 2002-1 Ltd. Series 2002-1A Class PS, 12/28/35 (d)	$ 3,000,000		$ 1,500
Crest Dartmouth Street 2003 1 Ltd. Series 2003-1A Class PS, 6/28/38 (d)	3,100,000		1,001,920
TOTAL PREFERRED SECURITIES (Cost $6,004,704)		1,003,420

Money Market Funds - 7.0%
	Shares
Fidelity Cash Central Fund, 0.15% (a) (Cost $67,395,665)	67,395,665		67,395,665
TOTAL INVESTMENT PORTFOLIO - 99.9% (Cost $931,333,418)			964,431,903
NET OTHER ASSETS (LIABILITIES) - 0.1%			1,071,646
NET ASSETS - 100%		$ 965,503,549

Currency Abbreviations
CAD	-	Canadian dollar

Legend

(a) 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.

(b) Non-income producing - Security is in default.

(d) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $646,536,138 or 67.0% of net assets.

(e) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(f) Security represents right to receive monthly interest payments on an underlying pool of mortgages or assets. Principal shown is the outstanding par amount of the pool as of the end of the period.

(g) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $246,048 or 0.0% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Fannie Mae REMIC Trust Series 2001-W3 subordinate REMIC pass thru certificates: Class B3, 7% 9/25/41	5/21/03	$ 227,359
Class B4, 6.9757% 9/25/41	11/2/01	$ 1,078
Security	Acquisition Date	Acquisition Cost
Fannie Mae REMIC Trust Series 2003-W1 subordinate REMIC pass thru certificates, Class B3, 4.3235% 12/25/42	3/25/03	$ 570,531
Fannie Mae REMIC Trust Series 2003-W10 subordinate REMIC pass thru certificates: Class 2B4, 3.0632% 6/25/43	9/29/03	$ 88,462
Fannie Mae Class 2B5, 3.0632% 6/25/43	9/29/03	$ 20,998

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	$ 46,355

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Financials	$ 58,575,605	$ 56,825,602	$ 1,750,003	$ -
Corporate Bonds	41,645,861	-	41,528,377	117,484
Asset-Backed Securities	21,172,764	-	14,966,673	6,206,091
Collateralized Mortgage Obligations	14,100,215	-	13,353,281	746,934
Commercial Mortgage Securities	731,954,359	-	719,736,574	12,217,785
Bank Loan Obligations	28,584,014	-	28,252,186	331,828
Preferred Securities	1,003,420	-	-	1,003,420
Money Market Funds	67,395,665	67,395,665	-	-
Total Investments in Securities:	$ 964,431,903	$ 124,221,267	$ 819,587,094	$ 20,623,542
Percentage of Market Value:	100.0%	12.9%	85.0%	2.1%

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

Investments in Securities:
Commercial Mortgage Securities
Beginning Balance	$ 16,391,136
Net Realized Gain (Loss) on Investment Securities	291,789
Net Unrealized Gain (Loss) on Investment Securities	(597,225)
Cost of Purchases	-
Proceeds of Sales	(6,819,384)
Amortization/Accretion	1,386,759
Transfers into Level 3	1,664,818
Transfers out of Level 3	(100,108)
Ending Balance	$ 12,217,785
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2015	$ (1,971,649)
Investments in Securities: - continued
Other Investments in Securities
Beginning Balance	$ 12,444,153
Net Realized Gain (Loss) on Investment Securities	(599,365)
Net Unrealized Gain (Loss) on Investment Securities	1,428,724
Cost of Purchases	315,875
Proceeds of Sales	(5,903,257)
Amortization/Accretion	800,053
Transfers into Level 3	182,609
Transfers out of Level 3	(263,035)
Ending Balance	$ 8,405,757
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2015	$ (258,158)

The information used in the above reconciliations 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, 2015, the cost of investment securities for income tax purposes was $931,182,628. Net unrealized appreciation aggregated $33,249,275, of which $60,904,367 related to appreciated investment securities and $27,655,092 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Funds investments to the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee). In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, 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 Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committees activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Funds investments and ratifies the fair value determinations of the Committee. 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 third party pricing vendors or from brokers who make markets in such securities. Corporate bonds, bank loan obligations and preferred securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as broker-supplied prices.

Asset backed securities, collateralized mortgage obligations and commercial mortgage securities are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions. Independent prices obtained from a single source or broker are evaluated by management and may be categorized as Level 3 in the hierarchy.

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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.

The Fund attempts to obtain prices from one or more third party pricing vendors or brokers. For certain securities, independent prices may be unavailable, unreliable or limited to a single third party pricing vendor or broker. As of August 31, 2015, 13% of the securities held by the Fund were either valued based on a price provided by a single third party pricing vendor or broker or were fair valued. Actual prices may differ from the values that would be realized if the securities were sold, and the differences could be material.

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.

The following provides information on Level 3 securities held by the Fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

Asset Type	Fair Value at 08/31/15	Valuation Technique(s)	Unobservable Input	Amount or Range / Weighted Average	Impact to Valuation from an Increase in Input*
Asset-Backed Securities	$ 6,206,091	Discounted cash flow	Yield	7.3% - 10.0% / 9.8%	Decrease
		Expected distribution	Recovery rate	0.0% - 100.0% / 61.4%	Increase
		Market observation	Traded price	$50.75 - $97.00 / $73.18	Increase
		Pricing matrix	Quoted price	$18.39	Increase
Bank Loan Obligations	$ 331,828	Discounted cash flow	Yield	8.8%	Decrease
Collateralized Mortgage Obligations	$ 746,934	Discounted cash flow	Yield	5.2% - 14.0% / 8.1%	Decrease
		Expected distribution	Recovery rate	0.4% - 85.2% / 46.4%	Increase
		Pricing matrix	Quoted price	$3.74 - $25.20 / $13.43	Increase

Asset Type	Fair Value at 08/31/15	Valuation Technique(s)	Unobservable Input	Amount or Range / Weighted Average	Impact to Valuation from an Increase in Input*
Commercial Mortgage Securities	$ 1,768,450	Discounted cash flow	Discount rate	20.0%	Decrease
			Yield	8.0% - 15.0% / 8.0%	Decrease
			Yield spread	15.3%	Decrease
		Expected distribution	Recovery rate	0.0% - 6.4% / 5.7%	Increase
Corporate Bonds	$ 117,484	Discounted cash flow	Discount rate	20.0%	Decrease
Preferred Securities	$ 1,003,420	Discounted cash flow	Yield	12.0%	Decrease
		Expected distribution	Recovery rate	0.1%	Increase

* Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

Credit and Liquidity Risk.

The Fund invests a significant portion of its assets in below investment grade securities with contractual cash flows, such as asset backed securities, collateralized mortgage obligations and commercial mortgaged backed securities. As these securities have a higher degree of sensitivity to changes in economic conditions, including real estate values, the risk of default is higher, and the liquidity and/or value of such securities may be adversely affected.

Quarterly Report

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:	October 29, 2015

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:	October 29, 2015

By:	/s/Howard J. Galligan III
	Howard J. Galligan III
	Chief Financial Officer

Date:	October 29, 2015