Fidelity Advisor Low-Priced Stock Fund I

Fidelity Advisor Low-Priced Stock Fund I is a mutual fund designed to seek long-term capital appreciation by investing primarily in low-priced common stocks. The fund focuses on small- and mid-cap companies, both domestic and international, with share prices typically at or below $35 per share or possessing an earnings yield above the median for the Russell 2000 Index. Its strategy is rooted in the belief that many low-priced stocks are mispriced, especially in sectors or companies that may be overlooked or out of favor, providing opportunities for value-oriented investment. The fund employs a rigorous, opportunistic approach with an emphasis on higher-quality businesses exhibiting stable growth prospects while also maintaining a strong bias toward undervaluation. This combination aims to balance risk and reward, often resulting in lower volatility and drawdowns compared to peers. The fund’s diversified portfolio spans a wide array of sectors and includes both U.S. and international holdings, reflecting a global perspective. Since its inception in 1989, Fidelity Advisor Low-Priced Stock Fund I has served investors seeking growth potential with an element of downside protection in the equity markets.