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 811-3010

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

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

Scott C. Goebel, 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:	July 31

Date of reporting period:	April 30, 2013

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Advisor ® Consumer Discretionary Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800322.109

AFCI-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.7%
	Shares		Value
AUTO COMPONENTS - 0.7%
Auto Parts & Equipment - 0.7%
Delphi Automotive PLC	9,934		$ 459,050
COMMERCIAL SERVICES & SUPPLIES - 0.5%
Office Services & Supplies - 0.5%
Interface, Inc.	22,400		374,976
DISTRIBUTORS - 2.1%
Distributors - 2.1%
LKQ Corp. (a)	59,700		1,437,576
DIVERSIFIED CONSUMER SERVICES - 0.1%
Specialized Consumer Services - 0.1%
Ascent Capital Group, Inc. (a)	1,400		93,086
HOTELS, RESTAURANTS & LEISURE - 12.5%
Casinos & Gaming - 1.0%
Wynn Resorts Ltd.	4,981		683,891
Hotels, Resorts & Cruise Lines - 1.0%
Wyndham Worldwide Corp.	11,969		719,098
Restaurants - 10.5%
BJ's Restaurants, Inc. (a)	3,434		117,786
Bloomin' Brands, Inc.	30,042		653,414
Buffalo Wild Wings, Inc. (a)	5,940		534,600
Chipotle Mexican Grill, Inc. (a)	2,049		744,176
Domino's Pizza, Inc.	17,208		949,882
Panera Bread Co. Class A (a)	100		17,723
Starbucks Corp.	30,394		1,849,171
Texas Roadhouse, Inc. Class A	10,213		240,006
Yum! Brands, Inc.	31,408		2,139,513
			7,246,271
TOTAL HOTELS, RESTAURANTS & LEISURE			8,649,260
HOUSEHOLD DURABLES - 2.1%
Homebuilding - 0.7%
NVR, Inc. (a)	460		473,800
Housewares & Specialties - 1.4%
Jarden Corp. (a)	21,869		984,324
TOTAL HOUSEHOLD DURABLES			1,458,124
INTERNET & CATALOG RETAIL - 4.9%
Catalog Retail - 2.1%
Liberty Media Corp. Interactive Series A (a)	68,768		1,464,071
Internet Retail - 2.8%
Amazon.com, Inc. (a)	2,794		709,145
priceline.com, Inc. (a)	1,710		1,190,143
			1,899,288
TOTAL INTERNET & CATALOG RETAIL			3,363,359

	Shares		Value
LEISURE EQUIPMENT & PRODUCTS - 2.7%
Leisure Products - 2.7%
Brunswick Corp.	30,100		$ 952,966
Mattel, Inc.	19,495		890,142
			1,843,108
MEDIA - 26.4%
Broadcasting - 3.2%
Discovery Communications, Inc. (a)	13,600		1,071,952
Liberty Media Corp. Class A (a)	10,081		1,158,105
			2,230,057
Cable & Satellite - 8.2%
Comcast Corp. Class A	132,386		5,467,542
DISH Network Corp. Class A	4,935		193,403
			5,660,945
Movies & Entertainment - 15.0%
News Corp. Class A	104,511		3,236,706
The Walt Disney Co.	68,338		4,294,360
Time Warner, Inc.	46,990		2,809,062
			10,340,128
TOTAL MEDIA			18,231,130
MULTILINE RETAIL - 4.4%
General Merchandise Stores - 4.4%
Dollar General Corp. (a)	34,161		1,779,446
Dollar Tree, Inc. (a)	27,033		1,285,689
			3,065,135
PROFESSIONAL SERVICES - 0.5%
Research & Consulting Services - 0.5%
Nielsen Holdings B.V.	9,720		336,506
SPECIALTY RETAIL - 33.1%
Apparel Retail - 9.3%
Abercrombie & Fitch Co. Class A	9,991		495,154
American Eagle Outfitters, Inc.	62,010		1,206,095
Ascena Retail Group, Inc. (a)	3,100		57,350
DSW, Inc. Class A	6,100		403,332
L Brands, Inc.	22,241		1,121,169
Ross Stores, Inc.	19,525		1,290,017
TJX Companies, Inc.	37,473		1,827,558
			6,400,675
Automotive Retail - 4.7%
AutoZone, Inc. (a)	1,900		777,271
CarMax, Inc. (a)	15,750		725,130
O'Reilly Automotive, Inc. (a)	16,341		1,753,716
			3,256,117
Home Improvement Retail - 5.7%
Home Depot, Inc.	18,445		1,352,941
Lowe's Companies, Inc.	67,601		2,597,230
			3,950,171
Common Stocks - continued
	Shares		Value
SPECIALTY RETAIL - CONTINUED
Homefurnishing Retail - 3.5%
Bed Bath & Beyond, Inc. (a)	14,434		$ 993,059
Williams-Sonoma, Inc.	25,958		1,393,425
			2,386,484
Specialty Stores - 9.9%
Cabela's, Inc. Class A (a)	23,017		1,477,691
Dick's Sporting Goods, Inc.	19,763		950,600
Hibbett Sports, Inc. (a)	5,806		318,459
PetSmart, Inc.	19,689		1,343,577
Sally Beauty Holdings, Inc. (a)	33,800		1,016,028
Tractor Supply Co.	9,771		1,047,158
Ulta Salon, Cosmetics & Fragrance, Inc.	7,944		696,292
			6,849,805
TOTAL SPECIALTY RETAIL			22,843,252
TEXTILES, APPAREL & LUXURY GOODS - 9.7%
Apparel, Accessories & Luxury Goods - 5.6%
Coach, Inc.	14,950		879,957
Hanesbrands, Inc.	24,410		1,224,406
PVH Corp.	3,537		408,205
VF Corp.	7,632		1,360,175
			3,872,743
Footwear - 4.1%
NIKE, Inc. Class B	32,632		2,075,395

	Shares		Value
Steven Madden Ltd. (a)	6,800		$ 330,684
Wolverine World Wide, Inc.	9,200		439,484
			2,845,563
TOTAL TEXTILES, APPAREL & LUXURY GOODS			6,718,306
TOTAL COMMON STOCKS (Cost $53,968,340)		68,872,868
Money Market Funds - 0.4%

Fidelity Cash Central Fund, 0.13% (b) (Cost $310,110)	310,110		310,110
TOTAL INVESTMENT PORTFOLIO - 100.1% (Cost $54,278,450)			69,182,978
NET OTHER ASSETS (LIABILITIES) - (0.1)%			(87,977 )
NET ASSETS - 100%		$ 69,095,001

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.

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	$ 858
Fidelity Securities Lending Cash Central Fund	1,255
Total	$ 2,113

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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, please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $54,573,909. Net unrealized appreciation aggregated $14,609,069, of which $14,948,393 related to appreciated investment securities and $339,324 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. In accordance with valuation policies and procedures approved by the Board of Trustees (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 Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's 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 is responsible for approving and reporting to the Board all fair value determinations. 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 in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

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

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

Quarterly Holdings Report

for

Fidelity Advisor ® Real Estate Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800329.109

ARE-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.0%
	Shares		Value
HEALTH CARE PROVIDERS & SERVICES - 2.5%
Health Care Facilities - 2.5%
Brookdale Senior Living, Inc. (a)	440,185		$ 11,352,371
Emeritus Corp. (a)	402,437		10,342,631
TOTAL HEALTH CARE FACILITIES			21,695,002
REAL ESTATE INVESTMENT TRUSTS - 93.1%
REITs - Apartments - 15.7%
Apartment Investment & Management Co. Class A	152,866		4,755,661
AvalonBay Communities, Inc.	121,282		16,135,357
Camden Property Trust (SBI)	429,374		31,060,915
Education Realty Trust, Inc.	1,459,976		16,045,136
Equity Residential (SBI)	385,712		22,394,439
Essex Property Trust, Inc.	172,203		27,044,481
Home Properties, Inc.	307,670		19,832,408
TOTAL REITS - APARTMENTS			137,268,397
REITs - Health Care Facilities - 13.0%
Aviv REIT, Inc.	29,600		760,424
HCP, Inc.	602,695		32,123,644
Health Care REIT, Inc.	210,769		15,801,352
Ventas, Inc.	808,320		64,366,522
TOTAL REITS - HEALTH CARE FACILITIES			113,051,942
REITs - Hotels - 5.1%
Chesapeake Lodging Trust	682,695		16,152,564
Host Hotels & Resorts, Inc.	892,634		16,308,423
Sunstone Hotel Investors, Inc. (a)	992,491		12,316,813
TOTAL REITS - HOTELS			44,777,800
REITs - Industrial Buildings - 16.1%
DuPont Fabros Technology, Inc.	387,400		9,739,236
First Industrial Realty Trust, Inc.	557,839		10,007,632
First Potomac Realty Trust	282,870		4,525,920
Prologis, Inc.	1,289,757		54,105,306
Common Stocks - continued
	Shares		Value
REAL ESTATE INVESTMENT TRUSTS - CONTINUED
REITs - Industrial Buildings - continued
Public Storage	372,194		$ 61,412,010
Terreno Realty Corp.	49,200		925,944
TOTAL REITS - INDUSTRIAL BUILDINGS			140,716,048
REITs - Malls - 16.6%
CBL & Associates Properties, Inc.	322,648		7,788,723
General Growth Properties, Inc.	1,079,000		24,514,880
Simon Property Group, Inc.	599,378		106,731,237
The Macerich Co.	85,693		6,002,795
TOTAL REITS - MALLS			145,037,635
REITs - Management/Investment - 1.4%
Coresite Realty Corp.	20,700		748,926
Equity Lifestyle Properties, Inc.	23,300		1,893,125
Retail Properties America, Inc.	369,250		5,653,218
Weyerhaeuser Co.	130,700		3,987,657
TOTAL REITS - MANAGEMENT/INVESTMENT			12,282,926
REITs - Mobile Home Parks - 0.7%
Sun Communities, Inc.	119,662		6,120,711
REITs - Office Buildings - 17.0%
Alexandria Real Estate Equities, Inc.	328,684		23,918,335
Boston Properties, Inc.	309,649		33,884,890
Cousins Properties, Inc.	986,200		10,769,304
Douglas Emmett, Inc.	670,400		17,544,368
Highwoods Properties, Inc. (SBI)	332,641		13,648,260
Piedmont Office Realty Trust, Inc. Class A	529,000		10,855,080
SL Green Realty Corp.	414,565		37,601,046
TOTAL REITS - OFFICE BUILDINGS			148,221,283
REITs - Shopping Centers - 7.5%
Acadia Realty Trust (SBI)	328,254		9,371,652
Cedar Shopping Centers, Inc.	737,973		4,730,407
Equity One, Inc.	787,895		20,083,444
Excel Trust, Inc.	101,325		1,543,180
Glimcher Realty Trust	1,244,964		15,611,849
Common Stocks - continued
	Shares		Value
REAL ESTATE INVESTMENT TRUSTS - CONTINUED
REITs - Shopping Centers - continued
Kite Realty Group Trust	738,031		$ 4,871,005
Vornado Realty Trust	104,416		9,142,665
TOTAL REITS - SHOPPING CENTERS			65,354,202
TOTAL REAL ESTATE INVESTMENT TRUSTS			812,830,944
REAL ESTATE MANAGEMENT & DEVELOPMENT - 1.4%
Real Estate Operating Companies - 1.0%
Forest City Enterprises, Inc. Class A (a)	477,467		8,914,309
Real Estate Services - 0.4%
CBRE Group, Inc. (a)	127,131		3,079,113
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT			11,993,422
TOTAL COMMON STOCKS (Cost $640,895,314)		846,519,368
Money Market Funds - 3.8%

Fidelity Cash Central Fund, 0.13% (b) (Cost $33,402,961)	33,402,961		33,402,961
TOTAL INVESTMENT PORTFOLIO - 100.8% (Cost $674,298,275)			879,922,329
NET OTHER ASSETS (LIABILITIES) - (0.8)%			(6,969,816 )
NET ASSETS - 100%		$ 872,952,513

Legend

(a) Non-income producing

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	$ 27,412
Fidelity Securities Lending Cash Central Fund	3,523
Total	$ 30,935

Other Information

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $679,885,821. Net unrealized appreciation aggregated $200,036,508, of which $204,089,085 related to appreciated investment securities and $4,052,577 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

Quarterly Holdings Report

for

Fidelity Advisor ® Communications Equipment Fund

Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800324.109

AFDC-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.1%
	Shares		Value
COMMUNICATIONS EQUIPMENT - 85.8%
Communications Equipment - 85.8%
ADTRAN, Inc.	9,000		$ 189,000
ADVA AG Optical Networking (a)	8,228		39,540
Alcatel-Lucent SA sponsored ADR (a)	174,457		239,006
Anaren, Inc. (a)	3,000		70,230
Aruba Networks, Inc. (a)	1,240		27,888
Brocade Communications Systems, Inc. (a)	51,959		302,401
Cisco Systems, Inc.	87,924		1,839,370
Comtech Telecommunications Corp.	3,600		88,596
F5 Networks, Inc. (a)	4,165		318,331
Finisar Corp. (a)(d)	15,059		193,358
Harris Corp.	2,500		115,500
Infinera Corp. (a)	20,000		168,400
InterDigital, Inc.	1,700		75,497
JDS Uniphase Corp. (a)	2,300		31,050
Juniper Networks, Inc. (a)	29,788		492,991
Motorola Solutions, Inc.	5,347		305,848
NETGEAR, Inc. (a)	5,900		175,761
Nokia Corp. sponsored ADR (d)	35,105		118,655
Plantronics, Inc.	2,300		100,786
Polycom, Inc. (a)	29,799		312,890
QUALCOMM, Inc.	25,481		1,570,139
Radware Ltd. (a)	4,000		59,960
Research In Motion Ltd. (a)(d)	21,600		351,864
Riverbed Technology, Inc. (a)	14,658		217,818
Sonus Networks, Inc. (a)	43,900		92,190
Symmetricom, Inc. (a)	15,200		79,040
Telefonaktiebolaget LM Ericsson (B Shares) sponsored ADR	43,220		532,038
ViaSat, Inc. (a)	3,400		164,798
Wi-Lan, Inc.	16,800		66,370
			8,339,315
COMPUTERS & PERIPHERALS - 3.0%
Computer Hardware - 3.0%
Apple, Inc.	500		221,375
Super Micro Computer, Inc. (a)	7,100		68,302
			289,677
ELECTRONIC EQUIPMENT & COMPONENTS - 3.9%
Electronic Manufacturing Services - 3.3%
Fabrinet (a)	4,600		63,158
Flextronics International Ltd. (a)	13,800		98,670
TE Connectivity Ltd.	3,600		156,780
			318,608
Technology Distributors - 0.6%
Arrow Electronics, Inc. (a)	1,400		54,922
TOTAL ELECTRONIC EQUIPMENT & COMPONENTS			373,530

	Shares		Value
IT SERVICES - 1.8%
IT Consulting & Other Services - 1.8%
Amdocs Ltd.	4,900		$ 174,930
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.7%
Semiconductors - 3.7%
Altera Corp.	4,100		131,241
Analog Devices, Inc.	1,800		79,182
Broadcom Corp. Class A	1,900		68,400
GSI Technology, Inc. (a)	6,500		40,560
Skyworks Solutions, Inc. (a)	1,900		41,933
			361,316
SOFTWARE - 0.9%
Application Software - 0.5%
BroadSoft, Inc. (a)	2,000		51,120
Systems Software - 0.4%
Allot Communications Ltd. (a)	3,500		39,620
TOTAL SOFTWARE			90,740
TOTAL COMMON STOCKS (Cost $9,579,623)		9,629,508
Money Market Funds - 4.9%

Fidelity Cash Central Fund, 0.13% (b)	85,189		85,189
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	391,125		391,125
TOTAL MONEY MARKET FUNDS (Cost $476,314)		476,314
TOTAL INVESTMENT PORTFOLIO - 104.0% (Cost $10,055,937)			10,105,822
NET OTHER ASSETS (LIABILITIES) - (4.0)%			(386,644 )
NET ASSETS - 100%		$ 9,719,178

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
Fidelity Cash Central Fund	$ 527
Fidelity Securities Lending Cash Central Fund	10,170
Total	$ 10,697

Other Information

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $10,192,292. Net unrealized depreciation aggregated $86,470, of which $1,045,923 related to appreciated investment securities and $1,132,393 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

Quarterly Holdings Report

for

Fidelity Advisor ® Utilities Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800331.109

AFUG-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.1%
	Shares		Value
ELECTRIC UTILITIES - 44.1%
Electric Utilities - 44.1%
American Electric Power Co., Inc.	352,115		$ 18,109,274
Duke Energy Corp.	386,991		29,101,725
Edison International	211,923		11,401,457
FirstEnergy Corp.	359,782		16,765,841
ITC Holdings Corp.	35,580		3,281,188
Northeast Utilities	134,987		6,118,961
OGE Energy Corp.	137,535		9,961,660
Southern Co.	232,200		11,199,006
			105,939,112
GAS UTILITIES - 3.8%
Gas Utilities - 3.8%
National Fuel Gas Co.	31,570		1,980,070
ONEOK, Inc.	104,734		5,379,138
Questar Corp.	68,652		1,743,074
			9,102,282
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS - 10.6%
Independent Power Producers & Energy Traders - 10.6%
Calpine Corp. (a)	247,790		5,384,477
NRG Energy, Inc.	339,675		9,466,742
The AES Corp.	765,667		10,612,145
			25,463,364
MULTI-UTILITIES - 30.5%
Multi-Utilities - 30.5%
Ameren Corp.	228,600		8,286,750
CenterPoint Energy, Inc.	537,919		13,275,841
Dominion Resources, Inc.	190,500		11,750,040
NiSource, Inc.	287,663		8,839,884
PG&E Corp.	358,244		17,353,339
Sempra Energy	165,853		13,740,921
			73,246,775
OIL, GAS & CONSUMABLE FUELS - 6.8%
Oil & Gas Storage & Transport - 6.8%
Cheniere Energy, Inc. (a)	102,889		2,930,279

	Shares		Value
Enbridge, Inc.	122,700		$ 5,838,739
Spectra Energy Corp.	110,176		3,473,849
TransCanada Corp.	80,900		4,010,270
			16,253,137
WATER UTILITIES - 3.3%
Water Utilities - 3.3%
American Water Works Co., Inc.	167,748		7,025,286
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR	69,900		999,570
			8,024,856
TOTAL COMMON STOCKS (Cost $206,561,670)		238,029,526
Money Market Funds - 1.4%

Fidelity Cash Central Fund, 0.13% (b) (Cost $3,281,967)	3,281,967		3,281,967
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $209,843,637)			241,311,493
NET OTHER ASSETS (LIABILITIES) - (0.5)%			(1,210,410 )
NET ASSETS - 100%		$ 240,101,083

Legend

(a) Non-income producing

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	$ 3,820
Fidelity Securities Lending Cash Central Fund	2,138
Total	$ 5,958

Other Information

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $210,001,895. Net unrealized appreciation aggregated $31,309,598, of which $31,410,714 related to appreciated investment securities and $101,116 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

Quarterly Holdings Report

for

Fidelity Advisor ® Health Care Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800327.109

AFHC-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.5%
	Shares		Value
BIOTECHNOLOGY - 33.9%
Biotechnology - 33.9%
Achillion Pharmaceuticals, Inc. (a)	313,000		$ 2,360,020
Acorda Therapeutics, Inc. (a)	40,845		1,616,237
Alexion Pharmaceuticals, Inc. (a)	168,636		16,526,328
Amgen, Inc.	490,000		51,062,899
Biogen Idec, Inc. (a)	28,383		6,213,890
BioMarin Pharmaceutical, Inc. (a)	130,697		8,573,723
Biovitrum AB (a)	330,900		2,108,635
Discovery Laboratories, Inc. (a)(d)	428,038		723,384
Dynavax Technologies Corp. (a)	394,000		925,900
Elan Corp. PLC sponsored ADR (a)	158,000		1,848,600
Genomic Health, Inc. (a)	68,700		2,085,732
Gilead Sciences, Inc. (a)	928,734		47,031,090
Grifols SA ADR	212,687		6,642,215
Infinity Pharmaceuticals, Inc. (a)	87,200		3,757,448
Insmed, Inc. (a)	53,900		493,724
Intercept Pharmaceuticals, Inc.	16,400		558,420
Lexicon Pharmaceuticals, Inc. (a)	724,111		1,433,740
Medivation, Inc. (a)	140,000		7,379,400
Merrimack Pharmaceuticals, Inc. (a)	88,673		436,271
Momenta Pharmaceuticals, Inc. (a)	120,500		1,484,560
Neurocrine Biosciences, Inc. (a)	247,018		2,850,588
NPS Pharmaceuticals, Inc. (a)	171,000		2,296,530
Onyx Pharmaceuticals, Inc. (a)	150,000		14,220,000
Puma Biotechnology, Inc. (a)	62,194		2,001,403
Regeneron Pharmaceuticals, Inc. (a)	62,829		13,517,031
Spectrum Pharmaceuticals, Inc. (d)	179,500		1,330,095
Synageva BioPharma Corp. (a)	25,302		1,307,860
Synta Pharmaceuticals Corp. (a)(d)	123,300		1,263,825
Targacept, Inc. (a)	196,415		905,473
Theravance, Inc. (a)(d)	163,566		5,520,353
ZIOPHARM Oncology, Inc. (a)(d)	404,100		678,888
			209,154,262
DIVERSIFIED CONSUMER SERVICES - 0.5%
Specialized Consumer Services - 0.5%
Carriage Services, Inc.	175,055		3,061,712
FOOD & STAPLES RETAILING - 2.4%
Drug Retail - 2.4%
CVS Caremark Corp.	174,846		10,172,540
Walgreen Co.	98,238		4,863,763
			15,036,303
HEALTH CARE EQUIPMENT & SUPPLIES - 9.3%
Health Care Equipment - 7.5%
Boston Scientific Corp. (a)	1,993,801		14,933,569
Cardiovascular Systems, Inc. (a)	87,020		1,493,263
CONMED Corp.	115,800		3,628,014
Covidien PLC	67,523		4,310,668
Genmark Diagnostics, Inc. (a)	11,000		171,050
HeartWare International, Inc. (a)	19,705		1,915,326

	Shares		Value
Insulet Corp. (a)	182,800		$ 4,613,872
Intuitive Surgical, Inc. (a)	7,500		3,692,175
Volcano Corp. (a)	197,200		4,001,188
Zeltiq Aesthetics, Inc. (a)	205,900		901,842
Zimmer Holdings, Inc.	88,400		6,758,180
			46,419,147
Health Care Supplies - 1.8%
Derma Sciences, Inc. (a)	190,000		2,297,100
The Cooper Companies, Inc.	80,550		8,892,720
			11,189,820
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES			57,608,967
HEALTH CARE PROVIDERS & SERVICES - 16.4%
Health Care Distributors & Services - 3.6%
Amplifon SpA	245,163		1,262,412
McKesson Corp.	196,455		20,788,868
			22,051,280
Health Care Facilities - 2.6%
Brookdale Senior Living, Inc. (a)	91,200		2,352,048
Emeritus Corp. (a)	102,000		2,621,400
Hanger, Inc. (a)	61,265		1,861,843
HCA Holdings, Inc.	115,800		4,619,262
NMC Health PLC	341,800		1,645,899
Raffles Medical Group Ltd.	308,000		855,208
Ramsay Health Care Ltd.	67,936		2,253,032
			16,208,692
Health Care Services - 5.8%
BioScrip, Inc. (a)	333,900		4,627,854
Catamaran Corp. (a)	125,392		7,240,114
Express Scripts Holding Co. (a)	39,200		2,327,304
MEDNAX, Inc. (a)	121,800		10,807,314
Quest Diagnostics, Inc.	193,848		10,919,458
			35,922,044
Managed Health Care - 4.4%
Aetna, Inc.	28,400		1,631,296
CIGNA Corp.	137,600		9,104,992
Humana, Inc.	124,832		9,251,300
Qualicorp SA (a)	125,000		1,217,044
UnitedHealth Group, Inc.	97,637		5,851,385
			27,056,017
TOTAL HEALTH CARE PROVIDERS & SERVICES			101,238,033
HEALTH CARE TECHNOLOGY - 5.3%
Health Care Technology - 5.3%
athenahealth, Inc. (a)(d)	82,900		7,979,954
Cerner Corp. (a)	202,000		19,547,540
HealthStream, Inc. (a)	125,542		2,882,444
HMS Holdings Corp. (a)	101,300		2,553,773
			32,963,711
Common Stocks - continued
	Shares		Value
IT SERVICES - 1.0%
Data Processing & Outsourced Services - 1.0%
Maximus, Inc.	78,590		$ 6,262,837
LIFE SCIENCES TOOLS & SERVICES - 4.1%
Life Sciences Tools & Services - 4.1%
Agilent Technologies, Inc.	164,900		6,833,456
Bruker BioSciences Corp. (a)	98,800		1,755,676
Illumina, Inc. (a)(d)	257,940		16,686,139
			25,275,271
PERSONAL PRODUCTS - 0.8%
Personal Products - 0.8%
Prestige Brands Holdings, Inc. (a)	171,172		4,613,085
PHARMACEUTICALS - 25.4%
Pharmaceuticals - 25.4%
AbbVie, Inc.	133,899		6,166,049
Actavis, Inc. (a)	116,095		12,274,724
Bayer AG (d)	58,300		6,082,368
Cadence Pharmaceuticals, Inc. (a)	149,019		1,055,055
Eli Lilly & Co.	29,045		1,608,512
Endo Health Solutions, Inc. (a)	254,769		9,334,736
Hi-Tech Pharmacal Co., Inc.	57,395		1,897,479
Impax Laboratories, Inc. (a)	98,800		1,729,000
Ipca Laboratories Ltd.	36,732		347,786
Meda AB (A Shares)	196,400		2,345,509
Merck & Co., Inc.	656,780		30,868,660
Mylan, Inc. (a)	173,782		5,058,794
Optimer Pharmaceuticals, Inc. (a)(d)	176,054		2,718,274
Pacira Pharmaceuticals, Inc. (a)	58,000		1,674,460
Pfizer, Inc.	541,998		15,755,882
Salix Pharmaceuticals Ltd. (a)	73,700		3,853,773
Sanofi SA	156,785		16,950,903
Shire PLC sponsored ADR	58,900		5,515,396
The Medicines Company (a)	70,900		2,393,584
UCB SA	56,200		3,321,685
Valeant Pharmaceuticals International, Inc. (Canada) (a)	164,704		12,506,681
ViroPharma, Inc. (a)	290,352		7,912,092
Warner Chilcott PLC	392,900		5,649,902
			157,021,304
REAL ESTATE MANAGEMENT & DEVELOPMENT - 0.4%
Real Estate Development - 0.4%
PT Lippo Karawaci Tbk	17,745,500		2,464,014
TOTAL COMMON STOCKS (Cost $462,226,869)		614,699,499
Convertible Preferred Stocks - 0.4%
	Shares		Value
HEALTH CARE TECHNOLOGY - 0.4%
Health Care Technology - 0.4%
Castlight Health, Inc. Series D (a)(e) (Cost $2,033,113)	336,800		$ 2,505,792
Money Market Funds - 4.1%

Fidelity Cash Central Fund, 0.13% (b)	1,290,207		1,290,207
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	24,395,049		24,395,049
TOTAL MONEY MARKET FUNDS (Cost $25,685,256)		25,685,256
TOTAL INVESTMENT PORTFOLIO - 104.0% (Cost $489,945,238)			642,890,547
NET OTHER ASSETS (LIABILITIES) - (4.0)%			(24,876,393 )
NET ASSETS - 100%		$ 618,014,154

Legend

(a) Non-income producing

(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 $2,505,792 or 0.4% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Castlight Health, Inc. Series D	4/25/12	$ 2,033,113

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	$ 11,697
Fidelity Securities Lending Cash Central Fund	92,135
Total	$ 103,832

Other Information

The following is a summary of the inputs used, as of April 30, 2013, 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:
Common Stocks	$ 614,699,499	$ 597,748,596	$ 16,950,903	$ -
Convertible Preferred Stocks	2,505,792	-	-	2,505,792
Money Market Funds	25,685,256	25,685,256	-	-
Total Investments in Securities:	$ 642,890,547	$ 623,433,852	$ 16,950,903	$ 2,505,792

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $490,921,638. Net unrealized appreciation aggregated $151,968,909, of which $159,329,785 related to appreciated investment securities and $7,360,876 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

Quarterly Holdings Report

for

Fidelity Advisor ® Financial Services Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800326.109

AFFS-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.5%
	Shares		Value
CAPITAL MARKETS - 21.0%
Asset Management & Custody Banks - 11.7%
A.F.P. Provida SA sponsored ADR	25,100		$ 2,610,400
Affiliated Managers Group, Inc. (a)	114		17,748
AllianceBernstein Holding LP	5,700		135,033
Ameriprise Financial, Inc.	200		14,906
Apollo Global Management LLC Class A	69,174		1,862,164
Ares Capital Corp.	68,316		1,240,619
Ashmore Group PLC	60,332		374,117
Bank of New York Mellon Corp.	456		12,868
BlackRock, Inc. Class A	506		134,849
Carlyle Group LP	13,900		451,472
Franklin Resources, Inc.	105		16,239
Invesco Ltd.	10,838		343,998
Janus Capital Group, Inc.	90,075		803,469
Legg Mason, Inc.	853		27,177
Northern Trust Corp.	207		11,161
Och-Ziff Capital Management Group LLC Class A	19,500		200,070
State Street Corp.	300		17,541
The Blackstone Group LP	300,565		6,176,611
			14,450,442
Diversified Capital Markets - 5.2%
Deutsche Bank AG	2,900		133,496
Deutsche Bank AG (NY Shares)	92,600		4,264,230
HFF, Inc.	8,500		178,075
UBS AG (NY Shares)	106,403		1,892,909
			6,468,710
Investment Banking & Brokerage - 4.1%
Charles Schwab Corp.	900		15,264
Evercore Partners, Inc. Class A	50,822		1,918,531
GFI Group, Inc.	320,278		1,284,315
Goldman Sachs Group, Inc.	2,209		322,669
Investment Technology Group, Inc. (a)	1,125		12,251
Lazard Ltd. Class A	35,837		1,214,874
Macquarie Group Ltd.	393		15,967
Monex Group, Inc.	32		14,438
Morgan Stanley	11,545		255,722
			5,054,031
TOTAL CAPITAL MARKETS			25,973,183
COMMERCIAL BANKS - 35.0%
Diversified Banks - 28.6%
Banco Bilbao Vizcaya Argentaria SA	93,300		908,235
Banco Bilbao Vizcaya Argentaria SA	2,248		21,819
Banco Bradesco SA (PN) sponsored ADR	753		12,492
Banco de Chile sponsored ADR	101		9,434
Banco Macro SA sponsored ADR (a)	900		14,346
Banco Santander Chile sponsored ADR	259		6,900
Banco Santander SA (Spain) sponsored ADR (d)	1,700		12,325
Banco Santander SA (Brasil) ADR	82,410		611,482

	Shares		Value
BanColombia SA sponsored ADR	29,585		$ 2,004,975
Bangkok Bank PCL (For. Reg.)	15,900		122,974
Bank of Baroda	5,117		66,621
Bank of the Philippine Islands (BPI)	15,110		37,725
Barclays PLC sponsored ADR (d)	336,516		6,050,558
BBVA Banco Frances SA sponsored ADR (a)	2,300		10,327
BNP Paribas SA	113,313		6,313,818
China CITIC Bank Corp. Ltd. (H Shares)	25,000		14,078
Comerica, Inc.	271,545		9,843,502
CorpBanca SA sponsored ADR (d)	550		11,264
Credicorp Ltd. (NY Shares)	128		19,276
Credit Agricole SA (a)	200		1,831
Criteria CaixaCorp SA (d)	29,274		108,371
Development Credit Bank Ltd. (a)	27,538		24,083
Grupo Financiero Banorte S.A.B. de CV Series O	53,300		401,913
Grupo Financiero Galicia SA sponsored ADR (a)(d)	1,800		10,134
Guaranty Trust Bank PLC GDR (Reg. S)	3,700		30,340
Hana Financial Group, Inc.	2,410		77,007
HDFC Bank Ltd. sponsored ADR	3,200		135,808
Hong Leong Bank Bhd	3,400		16,159
HSBC Holdings PLC sponsored ADR	200		10,972
ICICI Bank Ltd. sponsored ADR	31,823		1,489,953
Industrial & Commercial Bank of China Ltd. (H Shares)	6,000		4,222
Intesa Sanpaolo SpA	8,305		15,061
Itau Unibanco Holding SA sponsored ADR	619		10,418
KB Financial Group, Inc.	2,210		72,252
Malayan Banking Bhd	26,557		83,970
National Bank of Greece SA sponosored ADR (a)	138,700		124,969
Nordea Bank AB	1,200		14,377
PT Bank Bukopin Tbk	3,467,500		328,115
PT Bank Central Asia Tbk	13,500		14,927
Raiffeisen International Bank-Holding AG	900		31,759
Royal Bank of Scotland Group PLC (a)	29,232		139,490
Sberbank (Savings Bank of the Russian Federation) sponsored ADR	1,100		14,146
Societe Generale Series A	79,400		2,883,926
Standard Chartered PLC (United Kingdom)	491		12,333
Swedbank AB (A Shares)	900		22,149
The Jammu & Kashmir Bank Ltd.	4,314		109,503
The Toronto-Dominion Bank	126		10,329
U.S. Bancorp	91,772		3,054,172
United Overseas Bank Ltd.	1,000		17,334
Wells Fargo & Co.	348		13,217
Yes Bank Ltd.	1,839		17,614
			35,393,005
Regional Banks - 6.4%
Alerus Financial Corp.	435		15,116
Common Stocks - continued
	Shares		Value
COMMERCIAL BANKS - CONTINUED
Regional Banks - continued
Bancorp New Jersey, Inc.	100		$ 1,270
BancorpSouth, Inc.	4,900		78,400
Bank of the Ozarks, Inc.	6,516		266,700
BankUnited, Inc.	500		12,675
BB&T Corp.	405		12,462
Boston Private Financial Holdings, Inc.	2,200		21,208
Bridge Capital Holdings (a)	48,490		706,984
Canadian Western Bank, Edmonton	400		11,300
Cascade Bancorp (a)	900		5,373
Citizens & Northern Corp.	520		10,067
City Holding Co.	500		19,090
City National Corp.	300		17,169
CNB Financial Corp., Pennsylvania	803		13,001
CoBiz, Inc.	128,200		1,097,392
Commerce Bancshares, Inc.	5,200		208,572
Fifth Third Bancorp	16,740		285,082
First Business Finance Services, Inc.	500		13,760
First Commonwealth Financial Corp.	15,322		109,552
First Interstate Bancsystem, Inc.	31,582		641,746
First Midwest Bancorp, Inc., Delaware	1,200		15,060
First Republic Bank	2,681		101,824
FirstMerit Corp.	800		13,704
FNB Corp., Pennsylvania	1,100		12,529
Glacier Bancorp, Inc.	924		17,048
Huntington Bancshares, Inc.	16,368		117,359
NBT Bancorp, Inc.	200		4,050
Northrim Bancorp, Inc.	1,469		31,995
Pacific Continental Corp.	19,828		221,677
PNC Financial Services Group, Inc.	12,609		855,899
PrivateBancorp, Inc.	900		17,262
PT Bank Tabungan Negara Tbk	1,052,000		161,222
Regions Financial Corp.	175,836		1,492,848
Sandy Spring Bancorp, Inc.	200		4,096
SCBT Financial Corp.	500		23,885
Spar Nord Bank A/S (a)	500		3,215
SunTrust Banks, Inc.	10,600		310,050
Susquehanna Bancshares, Inc.	33,214		387,607
SVB Financial Group (a)	312		22,186
Texas Capital Bancshares, Inc. (a)	200		8,332
Trustmark Corp.	2,575		63,216
UMB Financial Corp.	1,200		60,408
Valley National Bancorp (d)	1,053		9,466
Virginia Commerce Bancorp, Inc. (a)	2,000		26,880
Washington Trust Bancorp, Inc.	5,644		150,977
Webster Financial Corp.	4,400		102,828
Westamerica Bancorp.	100		4,339

	Shares		Value
Western Alliance Bancorp. (a)	852		$ 12,533
Zions Bancorporation	5,000		123,100
			7,922,514
TOTAL COMMERCIAL BANKS			43,315,519
COMMERCIAL SERVICES & SUPPLIES - 0.0%
Diversified Support Services - 0.0%
Intrum Justitia AB	1,000		20,599
CONSTRUCTION MATERIALS - 0.1%
Construction Materials - 0.1%
Headwaters, Inc. (a)	4,700		51,042
CONSUMER FINANCE - 2.6%
Consumer Finance - 2.6%
American Express Co.	223		15,255
Capital One Financial Corp.	32,102		1,854,854
DFC Global Corp. (a)	2,000		27,000
Discover Financial Services	14,000		612,360
EZCORP, Inc. (non-vtg.) Class A (a)	14,666		247,855
First Cash Financial Services, Inc. (a)	3,390		174,483
Green Dot Corp. Class A (a)	1,900		29,849
International Personal Finance PLC	176		1,394
Nelnet, Inc. Class A	700		23,800
Netspend Holdings, Inc. (a)	1,331		21,243
PT Clipan Finance Indonesia Tbk	338,000		15,470
Regional Management Corp. (a)	9,500		205,960
SLM Corp.	665		13,732
			3,243,255
DIVERSIFIED CONSUMER SERVICES - 0.0%
Specialized Consumer Services - 0.0%
Sotheby's Class A (Ltd. vtg.)	350		12,418
DIVERSIFIED FINANCIAL SERVICES - 16.0%
Other Diversified Financial Services - 13.8%
Bank of America Corp.	498,056		6,131,069
BTG Pactual Participations Ltd. unit	14,485		238,696
Challenger Ltd.	71,751		312,414
Citigroup, Inc.	137,165		6,400,119
JPMorgan Chase & Co.	81,185		3,978,877
			17,061,175
Specialized Finance - 2.2%
BM&F Bovespa SA	1,900		13,191
CBOE Holdings, Inc.	52,575		1,973,140
CME Group, Inc.	184		11,198
IntercontinentalExchange, Inc. (a)	84		13,686
MarketAxess Holdings, Inc.	900		38,088
McGraw-Hill Companies, Inc.	11,600		627,676
Moody's Corp.	231		14,056
NYSE Euronext	300		11,643
Common Stocks - continued
	Shares		Value
DIVERSIFIED FINANCIAL SERVICES - CONTINUED
Specialized Finance - continued
PHH Corp. (a)	522		$ 11,004
The NASDAQ Stock Market, Inc.	361		10,642
			2,724,324
TOTAL DIVERSIFIED FINANCIAL SERVICES			19,785,499
ENERGY EQUIPMENT & SERVICES - 0.0%
Oil & Gas Equipment & Services - 0.0%
SBM Offshore NV (a)	1,200		19,312
HOTELS, RESTAURANTS & LEISURE - 0.0%
Casinos & Gaming - 0.0%
Las Vegas Sands Corp.	227		12,769
MGM Mirage, Inc. (a)	915		12,920
Wynn Resorts Ltd.	71		9,748
			35,437
Hotels, Resorts & Cruise Lines - 0.0%
Starwood Hotels & Resorts Worldwide, Inc.	200		12,904
TOTAL HOTELS, RESTAURANTS & LEISURE			48,341
HOUSEHOLD DURABLES - 0.0%
Homebuilding - 0.0%
M.D.C. Holdings, Inc.	400		15,040
PulteGroup, Inc. (a)	1,400		29,386
			44,426
INDUSTRIAL CONGLOMERATES - 0.0%
Industrial Conglomerates - 0.0%
Keppel Corp. Ltd.	1,000		8,695
INSURANCE - 4.1%
Insurance Brokers - 0.4%
Aon PLC	300		18,105
Brasil Insurance Participacoes e Administracao SA	23,000		244,053
Marsh & McLennan Companies, Inc.	6,300		239,463
			501,621
Life & Health Insurance - 0.9%
AFLAC, Inc.	204		11,106
AIA Group Ltd.	49,800		221,079
Citizens, Inc. Class A (a)	2,100		13,734
Delta Lloyd NV	831		15,923
FBL Financial Group, Inc. Class A	200		7,862
Lincoln National Corp.	400		13,604
MetLife, Inc.	16,226		632,652
Phoenix Companies, Inc. (a)	285		8,296
Ping An Insurance (Group) Co. of China Ltd. (H Shares)	3,000		23,756
Prudential Financial, Inc.	157		9,486
Resolution Ltd.	2,800		11,478

	Shares		Value
StanCorp Financial Group, Inc.	300		$ 12,954
Symetra Financial Corp.	1,100		14,993
Torchmark Corp.	300		18,621
Unum Group	600		16,734
			1,032,278
Multi-Line Insurance - 0.6%
American International Group, Inc. (a)	330		13,669
Assurant, Inc.	8,329		395,961
Fairfax Financial Holdings Ltd. (sub. vtg.)	100		40,116
Genworth Financial, Inc. Class A (a)	1,850		18,556
Hartford Financial Services Group, Inc.	3,600		101,124
Loews Corp.	1,900		84,873
Porto Seguro SA	8,100		100,483
			754,782
Property & Casualty Insurance - 1.7%
ACE Ltd.	6,549		583,778
Allied World Assurance Co. Holdings Ltd.	2,000		181,620
Allstate Corp.	300		14,778
Arch Capital Group Ltd. (a)	8,300		440,398
Axis Capital Holdings Ltd.	5,400		241,002
Berkshire Hathaway, Inc. Class B (a)	149		15,842
CNA Financial Corp.	3,118		105,108
Erie Indemnity Co. Class A	363		28,884
Fidelity National Financial, Inc. Class A	418		11,223
Hanover Insurance Group, Inc.	1,700		85,731
The Travelers Companies, Inc.	192		16,399
W.R. Berkley Corp.	2,500		108,550
XL Group PLC Class A	10,044		312,770
			2,146,083
Reinsurance - 0.5%
Everest Re Group Ltd.	100		13,499
Montpelier Re Holdings Ltd.	4,000		103,040
Platinum Underwriters Holdings Ltd.	3,400		192,950
RenaissanceRe Holdings Ltd.	133		12,487
Swiss Re Ltd.	162		12,884
Validus Holdings Ltd.	8,000		308,880
			643,740
TOTAL INSURANCE			5,078,504
INTERNET SOFTWARE & SERVICES - 0.0%
Internet Software & Services - 0.0%
eBay, Inc. (a)	309		16,189
IT SERVICES - 5.3%
Data Processing & Outsourced Services - 5.0%
Alliance Data Systems Corp. (a)	43		7,386
Cielo SA	456		12,027
Fidelity National Information Services, Inc.	600		25,230
Fiserv, Inc. (a)	233		21,229
Global Cash Access Holdings, Inc. (a)	9,300		66,309
Common Stocks - continued
	Shares		Value
IT SERVICES - CONTINUED
Data Processing & Outsourced Services - continued
Global Payments, Inc.	40,055		$ 1,858,552
Jack Henry & Associates, Inc.	2,810		130,384
Lender Processing Services, Inc.	100		2,774
Total System Services, Inc.	24,566		580,249
Vantiv, Inc. (a)	26,400		594,792
VeriFone Systems, Inc. (a)	133,441		2,866,313
Visa, Inc. Class A	100		16,846
			6,182,091
IT Consulting & Other Services - 0.3%
Accenture PLC Class A	200		16,288
Cognizant Technology Solutions Corp. Class A (a)	4,949		320,695
			336,983
TOTAL IT SERVICES			6,519,074
MACHINERY - 0.1%
Industrial Machinery - 0.1%
Middleby Corp. (a)	500		74,790
PROFESSIONAL SERVICES - 0.0%
Research & Consulting Services - 0.0%
Equifax, Inc.	370		22,644
IHS, Inc. Class A (a)	75		7,307
			29,951
REAL ESTATE INVESTMENT TRUSTS - 10.9%
Diversified REITs - 0.6%
American Assets Trust, Inc.	4,100		138,416
Duke Realty LP	15,800		278,712
First Potomac Realty Trust	700		11,200
Lexington Corporate Properties Trust	26,201		335,635
Vornado Realty Trust	200		17,512
			781,475
Industrial REITs - 0.0%
DCT Industrial Trust, Inc.	400		3,132
Prologis, Inc.	294		12,333
Stag Industrial, Inc.	1,100		24,244
			39,709
Mortgage REITs - 0.9%
American Capital Agency Corp.	22,450		747,810
American Capital Mortgage Investment Corp.	1,200		31,872
Invesco Mortgage Capital, Inc.	600		12,840
PennyMac Mortgage Investment Trust	700		17,675
Two Harbors Investment Corp.	23,300		279,134
			1,089,331
Office REITs - 1.6%
BioMed Realty Trust, Inc.	5,700		128,307
Boston Properties, Inc.	134		14,664

	Shares		Value
Corporate Office Properties Trust (SBI)	3,900		$ 113,061
CyrusOne, Inc.	10,100		242,299
Douglas Emmett, Inc.	29,112		761,861
Highwoods Properties, Inc. (SBI)	13,080		536,672
K-REIT Asia	200		245
Kilroy Realty Corp.	2,800		158,452
MPG Office Trust, Inc. (a)	5,300		16,536
SL Green Realty Corp.	100		9,070
			1,981,167
Residential REITs - 1.3%
American Campus Communities, Inc.	6,049		270,027
Apartment Investment & Management Co. Class A	4,641		144,382
BRE Properties, Inc.	500		25,240
Camden Property Trust (SBI)	7,350		531,699
Campus Crest Communities, Inc.	1,100		15,026
Colonial Properties Trust (SBI)	5,300		123,013
Equity Residential (SBI)	200		11,612
Home Properties, Inc.	5,800		373,868
Silver Bay Realty Trust Corp. (d)	1,137		21,694
UDR, Inc.	548		13,470
			1,530,031
Retail REITs - 0.4%
Federal Realty Investment Trust (SBI)	103		12,052
Glimcher Realty Trust	400		5,016
Kimco Realty Corp.	700		16,646
Realty Income Corp.	8,050		410,309
Simon Property Group, Inc.	38		6,767
Urstadt Biddle Properties, Inc. Class A	1,300		28,951
			479,741
Specialized REITs - 6.1%
American Tower Corp.	100		8,399
Big Yellow Group PLC	795,776		4,987,739
CubeSmart	1,000		17,570
DiamondRock Hospitality Co.	9,400		93,812
HCP, Inc.	2,217		118,166
Health Care REIT, Inc.	280		20,992
Host Hotels & Resorts, Inc.	1,600		29,232
National Health Investors, Inc.	3,900		258,336
Plum Creek Timber Co., Inc.	600		30,924
Potlatch Corp.	3,900		184,665
Public Storage	105		17,325
Rayonier, Inc.	6,300		374,346
Sovran Self Storage, Inc.	400		27,440
Strategic Hotel & Resorts, Inc. (a)	139,684		1,127,250
Sunstone Hotel Investors, Inc. (a)	13,600		168,776
Ventas, Inc.	195		15,528
Weyerhaeuser Co.	3,500		106,785
			7,587,285
TOTAL REAL ESTATE INVESTMENT TRUSTS			13,488,739
Common Stocks - continued
	Shares		Value
REAL ESTATE MANAGEMENT & DEVELOPMENT - 1.3%
Diversified Real Estate Activities - 1.1%
Countrywide PLC	2,100		$ 15,193
Tejon Ranch Co. (a)	5,564		162,358
The St. Joe Co. (a)(d)	61,471		1,202,987
			1,380,538
Real Estate Development - 0.0%
Bukit Sembawang Estates Ltd.	4,000		23,155
Real Estate Operating Companies - 0.1%
BR Malls Participacoes SA	700		8,257
Castellum AB	927		13,874
Forest City Enterprises, Inc. Class A (a)	6,300		117,621
Thomas Properties Group, Inc.	2,262		11,514
			151,266
Real Estate Services - 0.1%
CBRE Group, Inc. (a)	487		11,795
Jones Lang LaSalle, Inc.	116		11,486
Kennedy-Wilson Holdings, Inc.	2,000		33,260
			56,541
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT			1,611,500
SOFTWARE - 0.0%
Application Software - 0.0%
EPIQ Systems, Inc.	500		6,985
Fair Isaac Corp.	100		4,658
			11,643
SPECIALTY RETAIL - 0.0%
Home Improvement Retail - 0.0%
Home Depot, Inc.	300		22,005
THRIFTS & MORTGAGE FINANCE - 0.1%
Thrifts & Mortgage Finance - 0.1%
Brookline Bancorp, Inc., Delaware	800		6,720
Cape Bancorp, Inc.	1,400		12,614
Cheviot Financial Corp.	4,910		56,416
Eagle Bancorp Montana, Inc.	300		3,228
Fannie Mae (a)	9,700		8,022
Hudson City Bancorp, Inc.	800		6,648
People's United Financial, Inc.	1,100		14,476
			108,124
TOTAL COMMON STOCKS (Cost $109,854,801)		119,482,808
Nonconvertible Preferred Stocks - 0.3%
	Shares		Value
COMMERCIAL BANKS - 0.3%
Diversified Banks - 0.1%
Banco ABC Brasil SA	7,685		$ 60,381
Banco Pine SA	17,128		118,481
			178,862
Regional Banks - 0.2%
Banco Daycoval SA (PN)	11,300		59,416
Texas Capital Bancshares, Inc. 6.50%	5,500		140,140
			199,556
TOTAL COMMERCIAL BANKS			378,418
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $366,193)		378,418
Money Market Funds - 4.9%

Fidelity Cash Central Fund, 0.13% (b)	5,667,409		5,667,409
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	409,808		409,808
TOTAL MONEY MARKET FUNDS (Cost $6,077,217)		6,077,217
TOTAL INVESTMENT PORTFOLIO - 101.7% (Cost $116,298,211)			125,938,443
NET OTHER ASSETS (LIABILITIES) - (1.7)%			(2,049,351 )
NET ASSETS - 100%		$ 123,889,092

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
Fidelity Cash Central Fund	$ 3,440
Fidelity Securities Lending Cash Central Fund	8,439
Total	$ 11,879

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 119,482,808	$ 118,197,283	$ 1,285,525	$ -
Nonconvertible Preferred Stocks	378,418	378,418	-	-
Money Market Funds	6,077,217	6,077,217	-	-
Total Investments in Securities:	$ 125,938,443	$ 124,652,918	$ 1,285,525	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $117,850,468. Net unrealized appreciation aggregated $8,087,975, of which $11,350,868 related to appreciated investment securities and $3,262,893 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

Quarterly Holdings Report

for

Fidelity Advisor ® Technology Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800330.109

AFTF-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.5%
	Shares		Value
AEROSPACE & DEFENSE - 0.0%
Aerospace & Defense - 0.0%
DigitalGlobe, Inc. (a)	236		$ 6,889
AUTOMOBILES - 0.1%
Automobile Manufacturers - 0.1%
Tesla Motors, Inc. (a)	12,300		664,077
CHEMICALS - 0.2%
Specialty Chemicals - 0.2%
JSR Corp.	13,100		301,563
Nitto Denko Corp.	17,000		1,116,892
			1,418,455
COMMUNICATIONS EQUIPMENT - 14.3%
Communications Equipment - 14.3%
AAC Acoustic Technology Holdings, Inc.	16,500		80,478
ADTRAN, Inc.	30,586		642,306
ADVA AG Optical Networking (a)	92,560		444,802
Alcatel-Lucent SA (a)(d)	535,653		737,731
Alcatel-Lucent SA sponsored ADR (a)	526,688		721,563
Aruba Networks, Inc. (a)(d)	118,242		2,659,263
Brocade Communications Systems, Inc. (a)	71,400		415,548
Ciena Corp. (a)	168,562		2,521,688
Cisco Systems, Inc.	552,300		11,554,116
Comba Telecom Systems Holdings Ltd.	66,000		22,538
F5 Networks, Inc. (a)	241,960		18,493,003
Finisar Corp. (a)	338,501		4,346,353
HTC Corp.	10,000		102,069
Infinera Corp. (a)	330,885		2,786,052
JDS Uniphase Corp. (a)	83,615		1,128,803
Juniper Networks, Inc. (a)	1,184,655		19,606,040
Motorola Solutions, Inc.	1,318		75,390
Palo Alto Networks, Inc.	7,532		407,481
Polycom, Inc. (a)	119		1,250
QUALCOMM, Inc.	489,314		30,151,529
Radware Ltd. (a)	78,548		1,177,435
Research In Motion Ltd. (a)	300		4,887
Riverbed Technology, Inc. (a)	470		6,984
Sandvine Corp. (U.K.) (a)	1,305,800		2,657,095
SerComm Corp.	273,000		378,627
Sonus Networks, Inc. (a)	1,950,454		4,095,953
Spirent Communications PLC	115,600		234,335
Telefonaktiebolaget LM Ericsson:
(B Shares)	31,000		385,528
(B Shares) sponsored ADR	181,347		2,232,382
ZTE Corp. (H Shares)	220,800		372,166
			108,443,395
COMPUTERS & PERIPHERALS - 14.3%
Computer Hardware - 11.1%
3D Systems Corp. (a)(d)	24,038		919,213
Advantech Co. Ltd.	674,000		3,222,584
Apple, Inc.	151,615		67,127,541

	Shares		Value
Hewlett-Packard Co.	590		$ 12,154
Lenovo Group Ltd.	9,872,000		9,019,475
Quanta Computer, Inc.	41,000		84,808
Stratasys Ltd. (a)	16,335		1,356,622
Toshiba Corp.	414,000		2,282,868
Wistron Corp.	81,200		82,467
			84,107,732
Computer Storage & Peripherals - 3.2%
ADLINK Technology, Inc.	2,300		2,480
Catcher Technology Co. Ltd.	402,000		2,037,945
Chicony Electronics Co. Ltd.	723,000		2,123,154
EMC Corp. (a)	413,983		9,285,639
Fusion-io, Inc. (a)	54,800		1,029,144
Gemalto NV	940		76,801
NetApp, Inc. (a)	2,395		83,562
SanDisk Corp. (a)	177,199		9,292,316
Synaptics, Inc. (a)	181		7,463
Wacom Co. Ltd.	160		733,343
			24,671,847
TOTAL COMPUTERS & PERIPHERALS			108,779,579
DIVERSIFIED CONSUMER SERVICES - 0.0%
Education Services - 0.0%
Educomp Solutions Ltd.	16,123		19,341
New Oriental Education & Technology Group, Inc. sponsored ADR	3,974		76,023
			95,364
ELECTRICAL EQUIPMENT - 0.1%
Electrical Components & Equipment - 0.1%
Dynapack International Technology Corp.	14,000		48,661
TECO Electric & Machinery Co. Ltd.	471,000		443,210
			491,871
ELECTRONIC EQUIPMENT & COMPONENTS - 4.5%
Electronic Components - 1.5%
Aeroflex Holding Corp. (a)	13,464		100,172
Amphenol Corp. Class A	29,208		2,205,788
AU Optronics Corp. (a)	9,000		4,245
Delta Electronics, Inc.	186,000		892,472
InvenSense, Inc. (a)	123,737		1,153,229
Ledlink Optics, Inc.	379,000		1,130,960
Omron Corp.	33,300		1,051,943
Tong Hsing Electronics Industries Ltd.	585,000		2,578,840
TXC Corp.	253,000		394,642
Universal Display Corp. (a)(d)	36,492		1,147,308
Yaskawa Electric Corp.	73,000		893,206
			11,552,805
Electronic Equipment & Instruments - 0.9%
Chroma ATE, Inc.	358,683		769,910
FEI Co.	3,300		210,804
Hitachi High-Technologies Corp.	8,000		199,850
Common Stocks - continued
	Shares		Value
ELECTRONIC EQUIPMENT & COMPONENTS - CONTINUED
Electronic Equipment & Instruments - continued
Keyence Corp.	6,050		$ 1,919,944
National Instruments Corp.	74,993		2,049,559
RealD, Inc. (a)(d)	12,949		193,847
Test Research, Inc.	19,214		31,730
TPK Holding Co. Ltd.	23,000		467,175
TPK Holding Co. Ltd. GDR (Reg. S)	51,469		1,045,437
			6,888,256
Electronic Manufacturing Services - 1.3%
Benchmark Electronics, Inc. (a)	1,200		21,408
Fabrinet (a)	6,300		86,499
IPG Photonics Corp. (d)	2,200		140,096
Jabil Circuit, Inc.	66,537		1,184,359
Ju Teng International Holdings Ltd.	1,292,000		840,783
KEMET Corp. (a)	1,417		8,828
TE Connectivity Ltd.	112,985		4,920,497
Trimble Navigation Ltd. (a)	79,097		2,273,248
			9,475,718
Technology Distributors - 0.8%
Arrow Electronics, Inc. (a)	53		2,079
Digital China Holdings Ltd. (H Shares)	3,843,000		4,843,275
Redington India Ltd.	57,478		84,528
VST Holdings Ltd.	980,000		262,675
WPG Holding Co. Ltd.	686,975		828,144
WT Microelectronics Co. Ltd.	17,509		20,899
			6,041,600
TOTAL ELECTRONIC EQUIPMENT & COMPONENTS			33,958,379
HEALTH CARE EQUIPMENT & SUPPLIES - 0.1%
Health Care Equipment - 0.1%
Biosensors International Group Ltd. (a)	835,000		813,510
HEALTH CARE TECHNOLOGY - 0.7%
Health Care Technology - 0.7%
athenahealth, Inc. (a)	7,866		757,181
Cerner Corp. (a)	24,677		2,387,993
So-net M3, Inc.	791		1,789,096
			4,934,270
HOUSEHOLD DURABLES - 0.6%
Consumer Electronics - 0.6%
Alpine Electronics, Inc.	208,000		2,122,958
Sony Corp. sponsored ADR (d)	133,400		2,191,762
			4,314,720
Household Appliances - 0.0%
Haier Electronics Group Co. Ltd.	17,000		30,363
TOTAL HOUSEHOLD DURABLES			4,345,083

	Shares		Value
HOUSEHOLD PRODUCTS - 0.0%
Household Products - 0.0%
NVC Lighting Holdings Ltd.	180,000		$ 44,071
INDUSTRIAL CONGLOMERATES - 0.0%
Industrial Conglomerates - 0.0%
Samsung Techwin Co. Ltd.	196		12,188
INTERNET & CATALOG RETAIL - 0.6%
Internet Retail - 0.6%
Amazon.com, Inc. (a)	7,102		1,802,559
E-Commerce China Dangdang, Inc. ADR (a)	260		998
Expedia, Inc.	29		1,619
Groupon, Inc. Class A (a)(d)	134,300		819,230
Netflix, Inc. (a)	2,300		496,961
priceline.com, Inc. (a)	569		396,018
Rakuten, Inc.	41,400		441,587
Start Today Co. Ltd.	48,200		729,778
TripAdvisor, Inc. (a)	2,394		125,877
			4,814,627
INTERNET SOFTWARE & SERVICES - 17.8%
Internet Software & Services - 17.8%
Active Network, Inc. (a)	64,340		323,630
Akamai Technologies, Inc. (a)	1,994		87,557
Angie's List, Inc. (a)	74,139		1,797,129
Baidu.com, Inc. sponsored ADR (a)	51		4,378
Bankrate, Inc. (a)	26,500		357,220
Bazaarvoice, Inc. (a)	2,800		20,300
Cornerstone OnDemand, Inc. (a)	101,457		3,680,860
DealerTrack Holdings, Inc. (a)	31,770		884,795
Demandware, Inc. (a)	49,714		1,357,192
E2open, Inc.	37,900		538,559
eBay, Inc. (a)	321,900		16,864,341
ExactTarget, Inc. (a)	129,500		2,535,610
Facebook, Inc. Class A	14,258		395,802
Google, Inc. Class A (a)	84,791		69,916,111
INFO Edge India Ltd.	35,836		235,402
IntraLinks Holdings, Inc. (a)	127,914		731,668
Kakaku.com, Inc.	16,600		429,142
Keynote Systems, Inc.	26,095		292,525
LinkedIn Corp. (a)	49,940		9,592,975
LogMeIn, Inc. (a)	6,996		157,970
Mail.Ru Group Ltd. GDR (e)	1,800		48,600
MercadoLibre, Inc.	134		13,479
Millennial Media, Inc. (a)	141,724		982,147
NHN Corp.	286		76,848
Open Text Corp.	100		6,534
PChome Online, Inc.	79,000		357,630
Qihoo 360 Technology Co. Ltd. ADR (a)	300		10,290
Rackspace Hosting, Inc. (a)	7,204		347,233
Renren, Inc. ADR (a)	5,900		16,520
Responsys, Inc. (a)	248,552		1,931,249
Common Stocks - continued
	Shares		Value
INTERNET SOFTWARE & SERVICES - CONTINUED
Internet Software & Services - continued
SciQuest, Inc. (a)	95,327		$ 2,179,175
SINA Corp. (a)	56,489		3,181,460
SouFun Holdings Ltd. ADR	157		4,018
Tencent Holdings Ltd.	144,600		4,960,280
Velti PLC (a)	10,736		21,472
VeriSign, Inc. (a)	8,430		388,370
Vocus, Inc. (a)	117,715		989,983
Web.com Group, Inc. (a)	500		8,700
XO Group, Inc. (a)	5,200		58,552
Yahoo!, Inc. (a)	354,411		8,764,584
Yandex NV (a)	16,576		426,666
YouKu.com, Inc. ADR (a)	404		8,185
			134,985,141
IT SERVICES - 10.7%
Data Processing & Outsourced Services - 9.3%
Automatic Data Processing, Inc.	1,366		91,986
EVERTEC, Inc.	10,100		202,505
Fidelity National Information Services, Inc.	301,254		12,667,731
Fiserv, Inc. (a)	21,412		1,950,847
FleetCor Technologies, Inc. (a)	10,106		777,151
Global Payments, Inc.	97,600		4,528,640
Jack Henry & Associates, Inc.	20,492		950,829
MasterCard, Inc. Class A	28,485		15,750,211
Paychex, Inc.	54,004		1,966,286
Syntel, Inc.	1,100		69,487
The Western Union Co.	127,648		1,890,467
Total System Services, Inc.	182,055		4,300,139
VeriFone Systems, Inc. (a)	44		945
Visa, Inc. Class A	149,174		25,129,852
			70,277,076
IT Consulting & Other Services - 1.4%
Accenture PLC Class A	55,674		4,534,091
Bit-isle, Inc.	1,600		22,841
Camelot Information Systems, Inc. ADR (a)	145		251
ChinaSoft International Ltd. (a)	20,000		4,948
Cognizant Technology Solutions Corp. Class A (a)	53,438		3,462,782
EPAM Systems, Inc. (a)	44,400		954,600
IBM Corp.	375		75,953
InterXion Holding N.V. (a)	10,000		250,300
Pactera Technology International Ltd. ADR	94,096		478,949
ServiceSource International, Inc. (a)	82,288		526,643
Teradata Corp. (a)	1,246		63,633
Virtusa Corp. (a)	16,100		357,581
			10,732,572
TOTAL IT SERVICES			81,009,648

	Shares		Value
LEISURE EQUIPMENT & PRODUCTS - 0.1%
Photographic Products - 0.1%
Sunny Optical Technology Group Co. Ltd.	401,000		$ 532,245
LIFE SCIENCES TOOLS & SERVICES - 0.1%
Life Sciences Tools & Services - 0.1%
Illumina, Inc. (a)(d)	1,406		90,954
WuXi PharmaTech Cayman, Inc. sponsored ADR (a)	27,300		520,611
			611,565
MACHINERY - 0.4%
Industrial Machinery - 0.4%
Airtac International Group	74,000		392,709
Fanuc Corp.	12,200		1,841,616
Mirle Automation Corp.	95,738		66,390
Nippon Thompson Co. Ltd.	33,000		164,757
Shin Zu Shing Co. Ltd.	154,000		394,269
			2,859,741
MEDIA - 0.3%
Advertising - 0.2%
Dentsu, Inc.	200		6,953
Focus Media Holding Ltd. ADR	45,341		1,236,449
ReachLocal, Inc. (a)	1,558		25,972
			1,269,374
Cable & Satellite - 0.0%
DIRECTV (a)	190		10,746
Movies & Entertainment - 0.1%
IMAX Corp. (a)	29,830		761,560
TOTAL MEDIA			2,041,680
OFFICE ELECTRONICS - 0.0%
Office Electronics - 0.0%
Xerox Corp.	8,333		71,497
PHARMACEUTICALS - 0.1%
Pharmaceuticals - 0.1%
China Medical System Holdings Ltd.	1,099,250		1,077,981
PROFESSIONAL SERVICES - 0.0%
Research & Consulting Services - 0.0%
Acacia Research Corp.	8,600		204,852
IHS, Inc. Class A (a)	850		82,816
			287,668
REAL ESTATE INVESTMENT TRUSTS - 0.3%
Specialized REITs - 0.3%
American Tower Corp.	23,979		2,013,996
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 10.8%
Semiconductor Equipment - 1.3%
Advanced Energy Industries, Inc. (a)	5,757		97,754
Aixtron AG	44,100		632,166
Common Stocks - continued
	Shares		Value
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - CONTINUED
Semiconductor Equipment - continued
Aixtron AG sponsored ADR (d)	11,900		$ 170,884
Amkor Technology, Inc. (a)(d)	1,594		6,743
Applied Materials, Inc.	5,944		86,247
ASM International NV (depositary receipt)	2,330		78,008
ASML Holding NV (d)	1,206		89,690
Dainippon Screen Manufacturing Co. Ltd.	87,000		448,731
Entegris, Inc. (a)	79,708		755,632
GCL-Poly Energy Holdings Ltd.	4,354,000		880,882
GT Advanced Technologies, Inc. (a)(d)	125,574		493,506
ICD Co. Ltd. (a)	5,573		71,078
Lam Research Corp. (a)	1,989		91,932
Rubicon Technology, Inc. (a)(d)	143,652		1,064,461
Teradyne, Inc. (a)	4,232		69,574
Tessera Technologies, Inc.	134,614		2,742,087
Ultratech, Inc. (a)	69,227		2,040,120
Veeco Instruments, Inc. (a)(d)	11,800		449,226
			10,268,721
Semiconductors - 9.5%
Advanced Micro Devices, Inc. (a)(d)	1,157		3,263
Alpha & Omega Semiconductor Ltd. (a)	8,432		61,048
Altera Corp.	420,576		13,462,638
Analog Devices, Inc.	8,958		394,062
Applied Micro Circuits Corp. (a)	157,393		1,174,152
ARM Holdings PLC sponsored ADR	19		888
Atmel Corp. (a)	11,952		77,329
Avago Technologies Ltd.	205		6,552
Broadcom Corp. Class A	2,304		82,944
Canadian Solar, Inc. (a)	32		180
Cavium, Inc. (a)	132,590		4,169,956
Chipbond Technology Corp.	248,000		630,722
ChipMOS TECHNOLOGIES (Bermuda) Ltd.	66,837		984,509
Cirrus Logic, Inc. (a)	3,406		65,770
Cree, Inc. (a)	51,787		2,929,591
Cypress Semiconductor Corp.	205,929		2,077,824
Dialog Semiconductor PLC (a)	3,866		45,924
Diodes, Inc. (a)	370		7,496
Fairchild Semiconductor International, Inc. (a)	565		7,289
Freescale Semiconductor Holdings I Ltd. (a)	47,858		740,842
Hittite Microwave Corp. (a)	147		8,248
Infineon Technologies AG	1,000		7,895
Inotera Memories, Inc. (a)	9,575,000		3,766,362
Inphi Corp. (a)	126,857		1,193,724
International Rectifier Corp. (a)	9,649		204,655
Intersil Corp. Class A	23,794		184,641
JA Solar Holdings Co. Ltd. ADR (a)(d)	8,186		41,257
Linear Technology Corp.	185		6,753

	Shares		Value
LSI Corp. (a)	116,195		$ 759,915
MagnaChip Semiconductor Corp. (a)	64		1,027
Marvell Technology Group Ltd.	566		6,090
MediaTek, Inc.	1,522		18,580
Mellanox Technologies Ltd. (a)	31,900		1,626,262
Micron Technology, Inc. (a)	805,258		7,585,530
Microsemi Corp. (a)	4,100		85,280
Mindspeed Technologies, Inc. (a)(d)	161,476		369,780
Monolithic Power Systems, Inc.	121,798		2,937,768
MStar Semiconductor, Inc.	56,000		478,535
Novatek Microelectronics Corp.	257,000		1,254,934
NVIDIA Corp.	6,070		83,584
NXP Semiconductors NV (a)	51,933		1,430,754
O2Micro International Ltd. sponsored ADR (a)	14,600		49,932
Omnivision Technologies, Inc. (a)	214,777		2,880,160
ON Semiconductor Corp. (a)	408,226		3,208,656
Phison Electronics Corp.	101,000		796,287
PMC-Sierra, Inc. (a)	212,399		1,223,418
Power Integrations, Inc.	4,924		203,903
Radiant Opto-Electronics Corp.	2,550		10,376
Rambus, Inc. (a)	156,707		1,090,681
RDA Microelectronics, Inc. sponsored ADR	15,172		144,741
RF Micro Devices, Inc. (a)	189,111		1,060,913
Samsung Electronics Co. Ltd.	2		2,760
Semtech Corp. (a)	24,103		772,983
Silicon Laboratories, Inc. (a)	1,700		67,507
Silicon Motion Technology Corp. sponsored ADR	66		719
Siliconware Precision Industries Co. Ltd. sponsored ADR	53,700		327,033
SK Hynix, Inc.	17,460		473,901
Skyworks Solutions, Inc. (a)	139,231		3,072,828
Spreadtrum Communications, Inc. ADR	192,397		4,205,798
STMicroelectronics NV (NY Shares) unit	1,000		8,680
Texas Instruments, Inc.	2,850		103,199
Trina Solar Ltd. (a)(d)	10,094		51,580
Xilinx, Inc.	81,744		3,098,915
YoungTek Electronics Corp.	1,156		2,924
			71,832,447
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT			82,101,168
SOFTWARE - 21.7%
Application Software - 10.6%
Adobe Systems, Inc. (a)	165,949		7,480,981
ANSYS, Inc. (a)	33,753		2,729,268
AsiaInfo-Linkage, Inc. (a)	80,556		924,783
Aspen Technology, Inc. (a)	108,321		3,301,624
Autodesk, Inc. (a)	41,108		1,618,833
Blackbaud, Inc.	2,435		71,370
BroadSoft, Inc. (a)	143,027		3,655,770
Common Stocks - continued
	Shares		Value
SOFTWARE - CONTINUED
Application Software - continued
Citrix Systems, Inc. (a)	18,187		$ 1,130,686
Compuware Corp. (a)	230,453		2,765,436
Comverse, Inc.	4,710		124,956
Concur Technologies, Inc. (a)(d)	49,105		3,590,067
Descartes Systems Group, Inc. (a)	219,300		2,176,783
Ellie Mae, Inc. (a)	18,469		480,563
Guidewire Software, Inc. (a)	53,300		2,136,264
Informatica Corp. (a)	2,233		73,533
Intuit, Inc.	99		5,904
Jive Software, Inc. (a)	110,500		1,501,695
Kingdee International Software Group Co. Ltd. (a)	13,250,800		2,185,657
Manhattan Associates, Inc. (a)	97		6,810
MicroStrategy, Inc. Class A (a)	17,560		1,583,736
Nuance Communications, Inc. (a)	193,905		3,691,951
Parametric Technology Corp. (a)	135,095		3,243,631
Pegasystems, Inc.	23,421		592,786
PROS Holdings, Inc. (a)	8,633		223,767
QLIK Technologies, Inc. (a)	62,987		1,638,292
RealPage, Inc. (a)	4,600		93,840
salesforce.com, Inc. (a)	592,603		24,361,909
SAP AG	125		9,965
SolarWinds, Inc. (a)	15,214		773,632
Splunk, Inc.	200		8,160
Synchronoss Technologies, Inc. (a)	75,348		2,135,362
Synopsys, Inc. (a)	2,500		88,925
TIBCO Software, Inc. (a)	174,116		3,379,592
TiVo, Inc. (a)	8,000		93,760
Ultimate Software Group, Inc. (a)	20,100		1,941,459
Verint Systems, Inc. (a)	6,115		202,040
Workday, Inc. Class A	5,600		350,840
			80,374,630
Home Entertainment Software - 1.9%
Activision Blizzard, Inc.	341,770		5,109,462
Capcom Co. Ltd. (d)	107,300		1,762,503
Nintendo Co. Ltd.	31,000		3,421,551
Nintendo Co. Ltd. ADR	50,900		699,875
Perfect World Co. Ltd. sponsored ADR Class B	187,775		2,249,545
Square Enix Holdings Co. Ltd.	35,000		430,141
Take-Two Interactive Software, Inc. (a)	53,923		822,865
			14,495,942
Systems Software - 9.2%
Allot Communications Ltd. (a)	20,200		228,664
BMC Software, Inc. (a)	1,824		82,956
Check Point Software Technologies Ltd. (a)	13		606
CommVault Systems, Inc. (a)	35,215		2,589,711

	Shares		Value
Fortinet, Inc. (a)	442		$ 7,938
Imperva, Inc. (a)	11,600		452,168
Infoblox, Inc.	3,000		66,330
Insyde Software Corp.	304,000		540,170
Microsoft Corp.	118,831		3,933,306
NetSuite, Inc. (a)	47,618		4,188,479
Oracle Corp.	1,307,750		42,868,045
Red Hat, Inc. (a)	121,551		5,825,939
ServiceNow, Inc.	12,500		512,000
Sourcefire, Inc. (a)	52,530		2,508,833
Symantec Corp. (a)	584		14,191
Totvs SA	72,900		1,370,735
VMware, Inc. Class A (a)	63,407		4,470,194
			69,660,265
TOTAL SOFTWARE			164,530,837
WIRELESS TELECOMMUNICATION SERVICES - 0.7%
Wireless Telecommunication Services - 0.7%
SBA Communications Corp. Class A (a)	71,029		5,610,581
TOTAL COMMON STOCKS (Cost $734,765,257)		746,555,506

Convertible Bonds - 0.5%
	Principal Amount
COMMUNICATIONS EQUIPMENT - 0.2%
Communications Equipment - 0.2%
Ciena Corp. 0.25% 5/1/13	$ 1,270,000		1,254,887
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.3%
Semiconductors - 0.3%
JA Solar Holdings Co. Ltd. 4.5% 5/15/13	2,179,000		2,059,155
TOTAL CONVERTIBLE BONDS (Cost $3,433,356)		3,314,042

Money Market Funds - 2.6%

Fidelity Cash Central Fund, 0.13% (b)	9,513,429		9,513,429
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	10,418,665		10,418,665
TOTAL MONEY MARKET FUNDS (Cost $19,932,094)		19,932,094
TOTAL INVESTMENT PORTFOLIO - 101.6% (Cost $758,130,707)			769,801,642
NET OTHER ASSETS (LIABILITIES) - (1.6)%			(11,787,045 )
NET ASSETS - 100%		$ 758,014,597

Legend

(a) Non-income producing

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

(e) 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 $48,600 or 0.0% of net assets.

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	$ 55,004
Fidelity Securities Lending Cash Central Fund	235,711
Total	$ 290,715

Other Information

The following is a summary of the inputs used, as of April 30, 2013, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 746,555,506	$ 722,674,608	$ 23,880,898	$ -
Convertible Bonds	3,314,042	-	3,314,042	-
Money Market Funds	19,932,094	19,932,094	-	-
Total Investments in Securities:	$ 769,801,642	$ 742,606,702	$ 27,194,940	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $762,348,321. Net unrealized appreciation aggregated $7,453,321, of which $67,912,256 related to appreciated investment securities and $60,458,935 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. In accordance with valuation policies and procedures approved by the Board of Trustees (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 Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's 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 is responsible for approving and reporting to the Board all fair value determinations. 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. For corporate bonds, pricing vendors utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as 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.

Quarterly Report

Quarterly Holdings Report

for

Fidelity Advisor ® Energy Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800328.109

ANR-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value
CHEMICALS - 1.7%
Commodity Chemicals - 1.7%
LyondellBasell Industries NV Class A	135,310		$ 8,213,317
Westlake Chemical Corp.	35,291		2,934,094
			11,147,411
ENERGY EQUIPMENT & SERVICES - 22.6%
Oil & Gas Drilling - 5.4%
Discovery Offshore S.A. (a)(e)	676,590		1,583,970
Ensco PLC Class A	332,835		19,197,923
Helmerich & Payne, Inc.	95,376		5,590,941
Noble Corp.	209,764		7,866,150
Northern Offshore Ltd.	328,887		564,637
Vantage Drilling Co. (a)	462,700		781,963
			35,585,584
Oil & Gas Equipment & Services - 17.2%
Anton Oilfield Services Group	438,000		349,377
C&J Energy Services, Inc. (a)	14,500		286,955
Cameron International Corp. (a)	153,141		9,425,829
Core Laboratories NV (d)	34,282		4,963,348
FMC Technologies, Inc. (a)	55,100		2,991,930
Forum Energy Technologies, Inc.	83,822		2,331,090
Geospace Technologies Corp. (a)	11,032		930,770
Halliburton Co.	866,667		37,067,348
National Oilwell Varco, Inc.	384,907		25,103,635
Oceaneering International, Inc.	12,000		842,040
Schlumberger Ltd.	320,164		23,829,807
Superior Energy Services, Inc. (a)	83,484		2,303,324
Total Energy Services, Inc.	53,200		738,236
Weatherford International Ltd. (a)	117,390		1,501,418
			112,665,107
TOTAL ENERGY EQUIPMENT & SERVICES			148,250,691
HOTELS, RESTAURANTS & LEISURE - 0.0%
Casinos & Gaming - 0.0%
Icahn Enterprises LP rights	66,553		1
OIL, GAS & CONSUMABLE FUELS - 75.0%
Coal & Consumable Fuels - 0.9%
Alpha Natural Resources, Inc. (a)	95,000		704,900
Peabody Energy Corp.	254,314		5,101,539
			5,806,439
Integrated Oil & Gas - 35.6%
Chevron Corp.	481,510		58,749,035
Exxon Mobil Corp.	703,494		62,603,924
Hess Corp.	413,361		29,836,397
InterOil Corp. (a)(d)	55,700		4,406,984

	Shares		Value
Murphy Oil Corp.	346,612		$ 21,521,139
Occidental Petroleum Corp.	457,256		40,814,671
Suncor Energy, Inc.	512,060		15,964,866
			233,897,016
Oil & Gas Exploration & Production - 27.2%
Anadarko Petroleum Corp.	292,929		24,828,662
Bankers Petroleum Ltd. (a)	831,400		2,079,635
Bonanza Creek Energy, Inc. (a)	43,943		1,509,442
BPZ Energy, Inc. (a)	221,964		475,003
Cabot Oil & Gas Corp.	183,391		12,479,758
Cobalt International Energy, Inc. (a)	260,167		7,269,066
Concho Resources, Inc. (a)	235,103		20,249,421
Continental Resources, Inc. (a)	100,679		8,046,266
EOG Resources, Inc.	187,329		22,696,782
EPL Oil & Gas, Inc. (a)	72,660		2,373,802
EQT Corp.	220,900		16,594,008
EV Energy Partners LP	49,600		2,309,376
Gulfport Energy Corp. (a)	44,925		2,344,636
Halcon Resources Corp.	300,000		1,962,000
Kosmos Energy Ltd. (a)	60,000		659,400
Marathon Oil Corp.	282,104		9,216,338
Noble Energy, Inc.	143,054		16,206,588
Northern Oil & Gas, Inc. (a)	204,993		2,642,360
Oasis Petroleum, Inc. (a)	174,677		5,979,194
Painted Pony Petroleum Ltd. Class A (a)	142,700		1,385,286
PDC Energy, Inc. (a)	6,857		296,908
Pioneer Natural Resources Co.	133,419		16,307,804
Rosetta Resources, Inc. (a)	17,081		732,946
TAG Oil Ltd. (a)	77,800		424,736
			179,069,417
Oil & Gas Refining & Marketing - 5.0%
Calumet Specialty Products Partners LP	84,391		3,186,604
Marathon Petroleum Corp.	160,387		12,567,925
Northern Tier Energy LP Class A	69,770		1,840,533
Phillips 66	187,036		11,399,844
Tesoro Corp.	37,109		1,981,621
Valero Energy Corp.	55,455		2,235,946
			33,212,473
Oil & Gas Storage & Transport - 6.3%
Atlas Energy LP	105,950		5,318,690
Atlas Pipeline Partners LP	101,500		3,688,510
Magellan Midstream Partners LP	67,186		3,562,874
Markwest Energy Partners LP	32,400		2,047,680
Targa Resources Corp.	49,147		3,231,907
Tesoro Logistics LP	98,066		5,844,734
The Williams Companies, Inc.	459,151		17,507,428
			41,201,823
TOTAL OIL, GAS & CONSUMABLE FUELS			493,187,168
TOTAL COMMON STOCKS (Cost $570,599,079)		652,585,271
Money Market Funds - 2.2%
	Shares		Value
Fidelity Cash Central Fund, 0.13% (b)	4,876,762		$ 4,876,762
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	9,345,475		9,345,475
TOTAL MONEY MARKET FUNDS (Cost $14,222,237)		14,222,237
TOTAL INVESTMENT PORTFOLIO - 101.5% (Cost $584,821,316)			666,807,508
NET OTHER ASSETS (LIABILITIES) - (1.5)%			(9,693,143 )
NET ASSETS - 100%		$ 657,114,365

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
Fidelity Cash Central Fund	$ 5,988
Fidelity Securities Lending Cash Central Fund	190,163
Total	$ 196,151

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 652,585,271	$ 652,585,270	$ -	$ 1
Money Market Funds	14,222,237	14,222,237	-	-
Total Investments in Securities:	$ 666,807,508	$ 666,807,507	$ -	$ 1

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $587,905,274. Net unrealized appreciation aggregated $78,902,234, of which $94,879,775 related to appreciated investment securities and $15,977,541 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

Quarterly Holdings Report

for

Fidelity Advisor ® Biotechnology Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800321.109

AFBT-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.5%
	Shares		Value
BIOTECHNOLOGY - 96.6%
Biotechnology - 96.6%
A.P. Pharma, Inc. (e)	743,765		$ 270,730
ACADIA Pharmaceuticals, Inc. (a)(d)	350,386		4,516,476
Achillion Pharmaceuticals, Inc. (a)	142,589		1,075,121
Acorda Therapeutics, Inc. (a)	142,905		5,654,751
Aegerion Pharmaceuticals, Inc. (a)	144,620		6,079,825
Affymax, Inc. (a)(d)	5,087		4,579
Agenus, Inc. (a)	9,425		45,806
Agenus, Inc. warrants 6/9/18 (a)(e)	452,000		35,765
Alexion Pharmaceuticals, Inc. (a)	238,563		23,379,174
Alkermes PLC (a)	128,761		3,941,374
Alnylam Pharmaceuticals, Inc. (a)	122,498		2,933,827
AMAG Pharmaceuticals, Inc. (a)	48,069		1,059,921
Amgen, Inc.	619,514		64,559,551
Arena Pharmaceuticals, Inc. (a)(d)	245,729		2,024,807
ARIAD Pharmaceuticals, Inc. (a)	188,106		3,361,454
ArQule, Inc. (a)	192,550		568,023
AVEO Pharmaceuticals, Inc. (a)(d)	134,829		688,976
Biogen Idec, Inc. (a)	135,526		29,670,707
BioMarin Pharmaceutical, Inc. (a)	165,738		10,872,413
Bionovo, Inc. warrants 2/2/16 (a)	56,850		138
BioTime, Inc. (a)(d)	111,305		402,924
Catalyst Pharmaceutical Partners, Inc.:
warrants 5/2/17 (a)	8,557		3
warrants 5/30/17 (a)	17,900		103
Celgene Corp. (a)	274,183		32,372,787
Cell Therapeutics, Inc. (d)	473,147		539,388
Cell Therapeutics, Inc. warrants 7/6/16 (a)	46,404		656
Celldex Therapeutics, Inc. (a)	157,995		2,061,835
Cepheid, Inc. (a)	55,200		2,104,776
Chimerix, Inc.	3,400		67,762
Clovis Oncology, Inc. (a)(d)	48,888		1,829,389
Cubist Pharmaceuticals, Inc. (a)	66,292		3,044,129
Curis, Inc. (a)	142,839		535,646
Cytokinetics, Inc.	407,500		521,600
Cytokinetics, Inc. warrants 6/25/17 (a)	244,500		62,450
Dendreon Corp. (a)(d)	190,903		899,153
Dyax Corp. (a)	414,791		1,140,675
Dynavax Technologies Corp. (a)	160,269		376,632
Elan Corp. PLC sponsored ADR (a)	109,652		1,282,928
Emergent BioSolutions, Inc. (a)	17,500		268,450
Enzon Pharmaceuticals, Inc.	8,434		27,832
Exact Sciences Corp. (a)	55,900		522,106
Exelixis, Inc. (a)(d)	96,345		500,031
Fibrocell Science, Inc. (e)	174,200		695,058
Genomic Health, Inc. (a)	20,528		623,230
Geron Corp. (a)	427,965		500,719
Gilead Sciences, Inc. (a)	1,205,794		61,061,408
Halozyme Therapeutics, Inc. (a)	160,032		966,593
Hyperion Therapeutics, Inc.	93,363		2,002,636

	Shares		Value
Idenix Pharmaceuticals, Inc. (a)(d)	58,586		$ 216,768
ImmunoGen, Inc. (a)(d)	83,980		1,345,360
Immunomedics, Inc. (a)(d)	127,450		326,272
Incyte Corp. (a)(d)	126,332		2,798,254
Infinity Pharmaceuticals, Inc. (a)	72,134		3,108,254
Intercept Pharmaceuticals, Inc.	8,867		301,921
InterMune, Inc. (a)(d)	252,918		2,359,725
Ironwood Pharmaceuticals, Inc. Class A (a)(d)	344,251		5,236,058
Isis Pharmaceuticals, Inc. (a)(d)	113,147		2,533,361
KaloBios Pharmaceuticals, Inc.	13,602		73,451
KaloBios Pharmaceuticals, Inc.	17,700		106,200
Lexicon Pharmaceuticals, Inc. (a)	543,326		1,075,785
Ligand Pharmaceuticals, Inc. Class B (a)	52,183		1,425,640
MannKind Corp. (a)(d)	504,208		1,991,622
Medivation, Inc. (a)	156,948		8,272,729
Merrimack Pharmaceuticals, Inc. (a)	2,800		13,776
Momenta Pharmaceuticals, Inc. (a)	39,166		482,525
Myriad Genetics, Inc. (a)	68,082		1,896,084
Neurocrine Biosciences, Inc. (a)	194,998		2,250,277
NeurogesX, Inc. (a)	187,202		2,583
NewLink Genetics Corp. (a)(d)	63,087		879,433
Novavax, Inc. (a)	586,056		1,377,232
Novelos Therapeutics, Inc. (a)	137,600		59,168
Novelos Therapeutics, Inc. warrants 12/6/16 (a)	137,600		267
NPS Pharmaceuticals, Inc. (a)	146,953		1,973,579
OncoGenex Pharmaceuticals, Inc. (a)	7,005		70,961
Onyx Pharmaceuticals, Inc. (a)	104,305		9,888,114
Opko Health, Inc. (a)(d)	159,000		1,058,940
Oragenics, Inc. (e)	108,608		369,267
Orexigen Therapeutics, Inc. (a)	275,109		1,672,663
Osiris Therapeutics, Inc. (a)(d)	70,287		788,620
OvaScience, Inc. (a)	12,800		149,760
PDL BioPharma, Inc. (d)	99,788		772,359
Pharmacyclics, Inc. (a)	84,676		6,901,094
PolyMedix, Inc. (a)	7,142		786
PolyMedix, Inc. warrants 4/10/16 (a)	163,833		2
Progenics Pharmaceuticals, Inc. (a)	490,109		2,254,501
Protalix BioTherapeutics, Inc. (a)(d)	90,943		515,647
Puma Biotechnology, Inc. (a)	42,757		1,375,920
Raptor Pharmaceutical Corp. (a)(d)	245,273		1,692,384
Regeneron Pharmaceuticals, Inc. (a)	92,204		19,836,769
Rigel Pharmaceuticals, Inc. (a)	75,572		361,990
Sangamo Biosciences, Inc. (a)(d)	147,070		1,497,173
Sarepta Therapeutics, Inc. (a)(d)	20,462		594,216
Savient Pharmaceuticals, Inc. (a)(d)	118,216		88,225
Seattle Genetics, Inc. (a)(d)	142,093		5,250,336
SIGA Technologies, Inc. (a)(d)	128,486		424,004
Sophiris Bio, Inc.	138,000		30,135
Sorrento Therapeutics, Inc. (e)	720,000		154,800
Spectrum Pharmaceuticals, Inc. (d)	363,247		2,691,660
Stemline Therapeutics, Inc.	36,900		529,146
Common Stocks - continued
	Shares		Value
BIOTECHNOLOGY - CONTINUED
Biotechnology - continued
Sunesis Pharmaceuticals, Inc. (a)(d)	159,517		$ 898,081
Synageva BioPharma Corp. (a)	19,200		992,448
Synergy Pharmaceuticals, Inc. (a)	111,988		587,937
Synergy Pharmaceuticals, Inc. warrants 11/14/16 (a)	20,600		48,616
Synta Pharmaceuticals Corp. (a)(d)	159,002		1,629,771
Synthetic Biologics, Inc. (a)	100		146
Targacept, Inc. (a)	142,026		654,740
TESARO, Inc. (d)	66,803		1,837,751
Theravance, Inc. (a)(d)	122,236		4,125,465
Threshold Pharmaceuticals, Inc. (a)	92,584		446,255
Threshold Pharmaceuticals, Inc. warrants 3/16/16 (a)	35,146		100,739
Trius Therapeutics, Inc. (a)	131,738		918,214
United Therapeutics Corp. (a)	60,052		4,010,273
Verastem, Inc. (a)	6,365		62,504
Vertex Pharmaceuticals, Inc. (a)	255,373		19,617,754
Vical, Inc. (a)	321,877		1,187,726
ZIOPHARM Oncology, Inc. (a)(d)	227,379		381,997
			411,730,530
HEALTH CARE EQUIPMENT & SUPPLIES - 0.1%
Health Care Equipment - 0.1%
Alsius Corp. (a)	14,200		0
Aradigm Corp. (a)	351,440		38,658
InVivo Therapeutics Holdings Corp. (a)	98,300		304,730
			343,388
LIFE SCIENCES TOOLS & SERVICES - 0.1%
Life Sciences Tools & Services - 0.1%
BG Medicine, Inc. (a)	75,570		124,691
ChromaDex, Inc. (a)	143,866		92,074
Transgenomic, Inc. (a)	33,100		12,247
Transgenomic, Inc. (a)(e)	162,000		59,940
Transgenomic, Inc. warrants 2/3/17 (a)(e)	81,000		1
			288,953
PERSONAL PRODUCTS - 0.0%
Personal Products - 0.0%
MYOS Corp. (e)	333,300		43,329
PHARMACEUTICALS - 1.7%
Pharmaceuticals - 1.7%
AcelRx Pharmaceuticals, Inc. (a)(d)	52,410		307,123
Auxilium Pharmaceuticals, Inc. (a)	46,358		692,125
AVANIR Pharmaceuticals Class A (a)(d)	379,315		1,210,015
Horizon Pharma, Inc. (a)(d)	116,600		279,840
Horizon Pharma, Inc.:
warrants 2/28/17 (a)	18,737		7
warrants 9/25/17 (a)	55,250		19
Jazz Pharmaceuticals PLC (a)	36,220		2,113,437

	Shares		Value
Pacira Pharmaceuticals, Inc. (a)	68,821		$ 1,986,862
TherapeuticsMD, Inc. (a)	113,400		285,768
XenoPort, Inc. (a)	81		503
Zogenix, Inc. (a)	181,384		313,794
Zogenix, Inc. warrants 7/27/17 (a)	32,985		130
			7,189,623
TOTAL COMMON STOCKS (Cost $309,460,764)		419,595,823
Convertible Preferred Stocks - 0.2%

BIOTECHNOLOGY - 0.0%
Biotechnology - 0.0%
bluebird bio (e)	35,360		27,450
Intrexon Corp. 6.00% (e)	19,884		156,587
			184,037
PHARMACEUTICALS - 0.2%
Pharmaceuticals - 0.2%
Agios Pharmaceuticals, Inc. Series C (a)(e)	13,990		68,706
aTyr Pharma, Inc. 8.00% (e)	247,934		627,025
			695,731
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $869,938)		879,768
Money Market Funds - 6.4%

Fidelity Cash Central Fund, 0.13% (b)	7,476,511		7,476,511
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	19,607,492		19,607,492
TOTAL MONEY MARKET FUNDS (Cost $27,084,003)		27,084,003
TOTAL INVESTMENT PORTFOLIO - 105.1% (Cost $337,414,705)			447,559,594
NET OTHER ASSETS (LIABILITIES) - (5.1)%			(21,595,672 )
NET ASSETS - 100%		$ 425,963,922

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
A.P. Pharma, Inc.	7/25/12	$ 390,477
Agenus, Inc. warrants 6/9/18	1/9/08	$ 563,722
Agios Pharmaceuticals, Inc. Series C	11/16/11	$ 68,706
aTyr Pharma, Inc. 8.00%	4/8/13	$ 627,025
bluebird bio	7/23/12	$ 17,620
Fibrocell Science, Inc.	10/8/12	$ 435,500
Intrexon Corp. 6.00%	4/30/13	$ 156,587
MYOS Corp.	7/2/12	$ 83,325
Oragenics, Inc.	7/31/12	$ 162,912
Sorrento Therapeutics, Inc.	5/15/12	$ 115,200
Transgenomic, Inc.	2/3/12	$ 161,441
Transgenomic, Inc. warrants 2/3/17	2/3/12	$ 559

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	$ 8,920
Fidelity Securities Lending Cash Central Fund	596,086
Total	$ 605,006

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 419,595,823	$ 419,322,092	$ 273,731	$ -
Convertible Preferred Stocks	879,768	-	-	879,768
Money Market Funds	27,084,003	27,084,003	-	-
Total Investments in Securities:	$ 447,559,594	$ 446,406,095	$ 273,731	$ 879,768

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $338,382,525. Net unrealized appreciation aggregated $109,177,069, of which $122,945,526 related to appreciated investment securities and $13,768,457 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

Quarterly Holdings Report

For

Fidelity Advisor ® Electronics Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800325.109

AFEL-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.9%
	Shares		Value
BIOTECHNOLOGY - 0.0%
Biotechnology - 0.0%
Arrowhead Research Corp. warrants 5/21/17 (a)(f)	64,879		$ 1
COMMERCIAL SERVICES & SUPPLIES - 0.3%
Office Services & Supplies - 0.3%
West Corp.	1,918		40,278
COMMUNICATIONS EQUIPMENT - 7.8%
Communications Equipment - 7.8%
Brocade Communications Systems, Inc. (a)	4,678		27,226
F5 Networks, Inc. (a)	500		38,215
Finisar Corp. (a)	3,070		39,419
Juniper Networks, Inc. (a)	4,121		68,203
NETGEAR, Inc. (a)	1,400		41,706
Polycom, Inc. (a)	10,596		111,258
QUALCOMM, Inc.	9,157		564,254
Radware Ltd. (a)	1,856		27,821
Research In Motion Ltd. (a)	1,440		23,458
Riverbed Technology, Inc. (a)	6,025		89,532
			1,031,092
COMPUTERS & PERIPHERALS - 2.7%
Computer Hardware - 2.2%
Apple, Inc.	540		239,085
Hewlett-Packard Co.	2,536		52,242
			291,327
Computer Storage & Peripherals - 0.5%
EMC Corp. (a)	2,033		45,600
SanDisk Corp. (a)	400		20,976
			66,576
TOTAL COMPUTERS & PERIPHERALS			357,903
ELECTRONIC EQUIPMENT & COMPONENTS - 10.8%
Electronic Components - 1.9%
Aeroflex Holding Corp. (a)	23,890		177,742
Corning, Inc.	410		5,945
InvenSense, Inc. (a)	6,898		64,289
			247,976
Electronic Manufacturing Services - 8.9%
Benchmark Electronics, Inc. (a)	3,150		56,196
Flextronics International Ltd. (a)	36,581		261,554
Jabil Circuit, Inc.	31,787		565,809
TTM Technologies, Inc. (a)	39,141		282,989
Viasystems Group, Inc. (a)	12		153
			1,166,701
TOTAL ELECTRONIC EQUIPMENT & COMPONENTS			1,414,677

	Shares		Value
INTERNET SOFTWARE & SERVICES - 0.6%
Internet Software & Services - 0.6%
Demand Media, Inc. (a)	4,275		$ 37,022
Facebook, Inc. Class A	1,192		33,090
Velti PLC (a)	5,600		11,200
			81,312
IT SERVICES - 0.6%
Data Processing & Outsourced Services - 0.6%
EVERTEC, Inc.	1,386		27,789
VeriFone Systems, Inc. (a)	2,227		47,836
			75,625
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 71.2%
Semiconductor Equipment - 0.6%
Amkor Technology, Inc. (a)	3,357		14,200
GT Advanced Technologies, Inc. (a)	7,609		29,903
Lam Research Corp. (a)	382		17,656
Rubicon Technology, Inc. (a)	2,754		20,407
			82,166
Semiconductors - 70.6%
Advanced Micro Devices, Inc. (a)(d)	43,558		122,834
Alpha & Omega Semiconductor Ltd. (a)	589		4,264
Altera Corp.	29,594		947,304
Analog Devices, Inc.	10,940		481,251
Atmel Corp. (a)	7,012		45,368
Avago Technologies Ltd.	27,276		871,741
Broadcom Corp. Class A	31,355		1,128,774
Cypress Semiconductor Corp.	31,095		313,749
Entropic Communications, Inc. (a)	9,744		41,315
EZchip Semiconductor Ltd. (a)	4,034		92,016
First Solar, Inc. (a)	1,984		92,375
Freescale Semiconductor Holdings I Ltd. (a)(d)	19,004		294,182
Infineon Technologies AG	2,500		19,738
Inphi Corp. (a)	11,900		111,979
Intel Corp.	21,974		526,277
Intermolecular, Inc. (a)	4,025		35,058
Intersil Corp. Class A	79,060		613,506
LSI Corp. (a)	52,103		340,754
M/A-COM Technology Solutions, Inc. (a)	2,083		29,224
Marvell Technology Group Ltd.	58,701		631,623
MediaTek, Inc.	3,000		36,623
Micron Technology, Inc. (a)	32,198		303,305
Motech Industries, Inc. (a)	1		1
NVIDIA Corp.	26,488		364,740
NXP Semiconductors NV (a)	17,969		495,046
O2Micro International Ltd. sponsored ADR (a)	11,711		40,052
ON Semiconductor Corp. (a)	40,705		319,941
PMC-Sierra, Inc. (a)	45,013		259,275
RDA Microelectronics, Inc. sponsored ADR	4,200		40,068
Skyworks Solutions, Inc. (a)	26,526		585,429
Common Stocks - continued
	Shares		Value
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - CONTINUED
Semiconductors - continued
Spreadtrum Communications, Inc. ADR	9		$ 197
Trident Microsystems, Inc. (a)	19		0
Volterra Semiconductor Corp. (a)	5,611		72,999
			9,261,008
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT			9,343,174
SOFTWARE - 0.9%
Application Software - 0.5%
BroadSoft, Inc. (a)	753		19,247
Nuance Communications, Inc. (a)	2,543		48,419
			67,666
Systems Software - 0.4%
Allot Communications Ltd. (a)	4,143		46,899
TOTAL SOFTWARE			114,565
TOTAL COMMON STOCKS (Cost $15,183,685)		12,458,627

Convertible Bonds - 2.4%
	Principal Amount
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.4%
Semiconductors - 2.4%
Micron Technology, Inc.:
1.625% 2/15/33 (e)	$ 30,000	34,088
1.875% 8/1/31	83,000	93,686
3.125% 5/1/32 (e)	155,000	187,647

TOTAL CONVERTIBLE BONDS (Cost $252,590)		315,421
Money Market Funds - 5.8%
	Shares		Value
Fidelity Cash Central Fund, 0.13% (b)	340,773		$ 340,773
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	411,039		411,039
TOTAL MONEY MARKET FUNDS (Cost $751,812)		751,812
TOTAL INVESTMENT PORTFOLIO - 103.1% (Cost $16,188,087)			13,525,860
NET OTHER ASSETS (LIABILITIES) - (3.1)%			(400,546 )
NET ASSETS - 100%		$ 13,125,314

Legend

(a) Non-income producing

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

(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 or 0.0% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Arrowhead Research Corp. warrants 5/21/17	5/18/07	$ 234,942

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	$ 585
Fidelity Securities Lending Cash Central Fund	3,350
Total	$ 3,935

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 12,458,627	$ 12,458,626	$ 1	$ -
Convertible Bonds	315,421	-	315,421	-
Money Market Funds	751,812	751,812	-	-
Total Investments in Securities:	$ 13,525,860	$ 13,210,438	$ 315,422	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $16,436,797. Net unrealized depreciation aggregated $2,910,937, of which $194,290 related to appreciated investment securities and $3,105,227 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. In accordance with valuation policies and procedures approved by the Board of Trustees (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 Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's 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 is responsible for approving and reporting to the Board all fair value determinations. 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

Quarterly Holdings Report

for

Fidelity Advisor ® Industrials Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

1.800323.109

AFCY-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value
AEROSPACE & DEFENSE - 15.7%
Aerospace & Defense - 15.7%
Honeywell International, Inc.	250,492		$ 18,421,182
Precision Castparts Corp.	55,193		10,557,869
Teledyne Technologies, Inc. (a)	95,031		7,133,027
Textron, Inc.	245,340		6,317,505
United Technologies Corp.	339,132		30,959,360
			73,388,943
AUTO COMPONENTS - 1.4%
Auto Parts & Equipment - 1.4%
Johnson Controls, Inc.	185,492		6,494,075
BUILDING PRODUCTS - 1.2%
Building Products - 1.2%
A.O. Smith Corp.	19,102		1,440,864
American Woodmark Corp. (a)	48,200		1,621,930
Armstrong World Industries, Inc.	48,988		2,500,348
			5,563,142
COMMERCIAL SERVICES & SUPPLIES - 3.8%
Diversified Support Services - 0.6%
Aggreko PLC	110,600		3,061,485
Environmental & Facility Services - 3.2%
Republic Services, Inc.	328,843		11,206,969
Stericycle, Inc. (a)	33,034		3,578,243
			14,785,212
TOTAL COMMERCIAL SERVICES & SUPPLIES			17,846,697
CONSTRUCTION & ENGINEERING - 3.0%
Construction & Engineering - 3.0%
EMCOR Group, Inc.	107,385		4,016,199
Jacobs Engineering Group, Inc. (a)	100,362		5,066,274
URS Corp.	113,211		4,972,227
			14,054,700
ELECTRICAL EQUIPMENT - 7.9%
Electrical Components & Equipment - 7.9%
AMETEK, Inc.	171,700		6,989,907
Eaton Corp. PLC	232,833		14,298,275
Generac Holdings, Inc.	69,644		2,502,309
Hubbell, Inc. Class B	88,134		8,457,339
Regal-Beloit Corp.	55,717		4,380,471
			36,628,301
INDUSTRIAL CONGLOMERATES - 23.1%
Industrial Conglomerates - 23.1%
3M Co.	197,356		20,665,147
Carlisle Companies, Inc.	79,194		5,137,315
Danaher Corp.	341,442		20,807,475
General Electric Co.	2,732,432		60,905,904
			107,515,841

	Shares		Value
LIFE SCIENCES TOOLS & SERVICES - 0.7%
Life Sciences Tools & Services - 0.7%
Eurofins Scientific SA	14,962		$ 3,251,194
MACHINERY - 28.6%
Construction & Farm Machinery & Heavy Trucks - 11.7%
Caterpillar, Inc.	176,486		14,943,070
Cummins, Inc.	107,454		11,432,031
Manitowoc Co., Inc.	353,124		6,624,606
Oshkosh Truck Corp. (a)	117,964		4,631,267
PACCAR, Inc.	131,315		6,536,861
Toro Co.	87,400		3,933,874
Wabtec Corp.	58,200		6,107,508
			54,209,217
Industrial Machinery - 16.9%
Donaldson Co., Inc.	102,551		3,730,805
Dover Corp.	110,383		7,614,219
GEA Group AG	117,275		3,966,928
Graco, Inc.	90,226		5,461,380
Harsco Corp.	191,681		4,184,396
IDEX Corp.	88,851		4,622,918
Ingersoll-Rand PLC	156,787		8,435,141
Nordson Corp.	32,300		2,244,527
Pall Corp.	92,477		6,169,141
Parker Hannifin Corp.	91,094		8,068,196
Pentair Ltd.	128,496		6,983,758
Stanley Black & Decker, Inc.	93,202		6,972,442
Timken Co.	103,694		5,451,194
TriMas Corp. (a)	162,683		4,961,832
			78,866,877
TOTAL MACHINERY			133,076,094
PROFESSIONAL SERVICES - 7.0%
Human Resource & Employment Services - 2.0%
Towers Watson & Co.	130,284		9,500,309
Research & Consulting Services - 5.0%
Bureau Veritas SA	19,303		2,365,432
Dun & Bradstreet Corp. (d)	119,566		10,575,613
Nielsen Holdings B.V.	149,604		5,179,290
Verisk Analytics, Inc. (a)	82,744		5,071,380
			23,191,715
TOTAL PROFESSIONAL SERVICES			32,692,024
ROAD & RAIL - 3.3%
Railroads - 2.0%
Union Pacific Corp.	63,204		9,351,664
Common Stocks - continued
	Shares		Value
ROAD & RAIL - CONTINUED
Trucking - 1.3%
Con-way, Inc.	49,631		$ 1,677,528
J.B. Hunt Transport Services, Inc.	62,044		4,409,467
			6,086,995
TOTAL ROAD & RAIL			15,438,659
TRADING COMPANIES & DISTRIBUTORS - 3.6%
Trading Companies & Distributors - 3.6%
W.W. Grainger, Inc.	25,700		6,334,279
Watsco, Inc.	50,171		4,233,429
WESCO International, Inc. (a)	83,684		5,999,306
			16,567,014
TOTAL COMMON STOCKS (Cost $372,534,139)		462,516,684

Convertible Bonds - 0.5%
	Principal Amount
BUILDING PRODUCTS - 0.5%
Building Products - 0.5%
Aspen Aerogels, Inc.:
8% 6/1/14 (e)	$ 1,177,234	1,177,234
8% 12/6/14 (e)	1,114,117	1,114,117

TOTAL CONVERTIBLE BONDS

(Cost $2,291,351)

2,291,351

U.S. Treasury Obligations - 0.0%

U.S. Treasury Bills, yield at date of purchase 0.05% 7/5/13 (Cost $89,992)	90,000	89,995

Money Market Funds - 0.8%
	Shares		Value
Fidelity Cash Central Fund, 0.13% (b)	3,037,306		$ 3,037,306
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	451,250		451,250
TOTAL MONEY MARKET FUNDS (Cost $3,488,556)		3,488,556
TOTAL INVESTMENT PORTFOLIO - 100.6% (Cost $378,404,038)			468,386,586
NET OTHER ASSETS (LIABILITIES) - (0.6)%			(2,617,041 )
NET ASSETS - 100%		$ 465,769,545

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
Aspen Aerogels, Inc. 8% 6/1/14	6/14/11 - 12/31/12	$ 1,177,234
Aspen Aerogels, Inc. 8% 12/6/14	12/6/11 - 12/31/12	$ 1,114,117

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	$ 15,239
Fidelity Securities Lending Cash Central Fund	499
Total	$ 15,738

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Common Stocks	$ 462,516,684	$ 462,516,684	$ -	$ -
Convertible Bonds	2,291,351	-	-	2,291,351
U.S. Treasury Obligations	89,995	-	89,995	-
Money Market Funds	3,488,556	3,488,556	-	-
Total Investments in Securities:	$ 468,386,586	$ 466,005,240	$ 89,995	$ 2,291,351

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $380,293,550. Net unrealized appreciation aggregated $88,093,036, of which $90,104,407 related to appreciated investment securities and $2,011,371 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. In accordance with valuation policies and procedures approved by the Board of Trustees (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 Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's 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 is responsible for approving and reporting to the Board all fair value determinations. 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. For corporate bonds and U.S. government and government agency obligations, pricing vendors utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as 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

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Advisor Series VII'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 VII

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	June 28, 2013

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:	June 28, 2013

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer

Date:	June 28, 2013

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