FWNLAX

About FWNLAX

Fidelity Advisor Semiconductors Fund is an actively managed mutual fund focused on the global semiconductor ecosystem. Its primary objective is capital appreciation, achieved by investing predominantly in companies involved in the design, manufacturing, and distribution of semiconductors and related equipment. The strategy typically allocates at least 80% of assets to this industry, spanning chip designers, foundries, equipment suppliers, and component distributors, and may include both U.S. and international issuers. The portfolio is concentrated, with a significant portion in leading industry franchises across areas such as graphics and AI accelerators, analog and power management, memory, fabrication, and wafer equipment, reflecting the sector’s capital intensity and technology cycles. The fund’s benchmark includes the S&P 500, with a secondary reference to a semiconductor-specific MSCI index, providing both broad-market and industry-level context for performance assessment. With material exposure to a compact set of large-cap leaders—often resulting in a high percentage in the top holdings—the fund offers targeted participation in a pivotal supply chain underpinning data centers, consumer electronics, automotive electrification, and industrial automation.