Fidelity Advisor Equity Market Neutral Fund (FEMLX)

Fund Assets	13.46M
Expense Ratio	1.39%
Min. Investment	$0.00
Turnover	78.00%
Dividend (ttm)	n/a
Dividend Yield	n/a
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	n/a

Previous Close	9.82
YTD Return	2.19%
1-Year Return	n/a
5-Year Return	n/a
52-Week Low	9.51
52-Week High	10.16
Beta (5Y)	n/a
Holdings	229
Inception Date	n/a

About FEMLX

Fidelity Equity Market Neutral Fund is a mutual fund that pursues a market neutral strategy, aiming to deliver capital appreciation with low correlation to broad equity market movements. The fund normally invests at least 80% of its assets in equity securities and related derivatives, utilizing long and short positions in both domestic and international stocks. Through this approach, the fund seeks to minimize exposure to market risk (beta), striving to balance the impact of rising and falling stock prices. Its diversification extends across developed and emerging markets, with instruments such as futures, options, and swaps also employed for portfolio management and hedging. The disciplined allocation process incorporates both fundamental and quantitative analysis, selecting securities believed to be undervalued for long positions and those expected to underperform for short positions. By maintaining neutrality toward factors like style, country, or sector, the Fidelity Equity Market Neutral Fund serves as an alternative investment strategy designed to generate returns that are less dependent on the overall direction of global equity markets, making it a specialized tool for portfolio diversification.

• Fund Family: Fidelity
• Stock Exchange: NASDAQ
• Ticker Symbol: FEMLX
• Share Class: Class A

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FEMWX	Fidelity Advisor Equity Market Neutral Fund: Class Z	1.09%
FEMUX	Fidelity Advisor Equity Market Neutral Fund: Class I	1.14%
FEMOX	Fidelity Advisor Equity Market Neutral Fund: Class M	1.64%
FEMQX	Fidelity Advisor Equity Market Neutral Fund: Class C	2.14%

Top 10 Holdings

40.61% of assets

Name	Symbol	Weight
Morgan Stanley Institutional Prime Portfolio	MPFXX	21.12%
Apollo Global Management, Inc.	APO	2.31%
Meta Platforms, Inc.	META	2.30%
Wells Fargo & Company	WFC	2.29%
Insulet Corporation	PODD	2.22%
Morgan Stanley	MS	2.18%
Expedia Group, Inc.	EXPE	2.16%
Taiwan Semiconductor Manufacturing Company Limited	2330	2.04%
JPMorgan Chase & Co.	JPM	2.01%
Kuraray Co., Ltd.	3405	1.96%