The Fidelity Advisor Stock Selector Small Cap Fund - Class C is an actively managed mutual fund designed to provide long-term growth of capital by investing primarily in small-capitalization U.S. companies. The fund allocates at least 80% of its assets to securities issued by companies whose market capitalizations are similar to those found in the Russell 2000 Index or S&P SmallCap 600, focusing on firms at the lower end of the U.S. equity market capitalization spectrum. Employing a blend strategy, the fund invests in both value and growth stocks, thereby seeking a diversified approach to small-cap investing and aiming to capture opportunities across different sectors and market cycles. With a management approach that leverages multiple managers, the fund strives to outperform its benchmark and peers within the Morningstar "Small Blend" category. The fund’s performance is measured against benchmarks like the Russell 2000 Total Return Index, and it has demonstrated returns that reflect its focus on small but dynamic U.S. companies. As a core domestic equity holding, the fund plays a significant role for investors looking to gain targeted exposure to the smaller segment of the U.S. stock market.