Fidelity Advisor Small Cap Growth Fund - Class C (FCCGX) is an open-end mutual fund that seeks capital appreciation by investing primarily in common stocks of companies with small market capitalizations, defined as those similar to companies in the Russell 2000 Growth Index or S&P SmallCap 600 Index; it normally invests at least 80% of assets in such securities, with allocations across sectors including healthcare (approximately 25%), industrials (22%), technology (21%), and consumer cyclical (9%), alongside top holdings like Fabrinet, Credo Technology Group, and Sterling Infrastructure. The fund offers Class C shares with a net expense ratio subject to contractual caps, targeting individual and institutional investors seeking exposure to small-cap growth equities in the U.S. market, supplemented by limited non-U.S. holdings (around 8%). Managed by Fidelity Management & Research Company LLC (FMR), headquartered in Boston, Massachusetts, the fund traces its portfolio inception to November 3, 2004.
In a significant operational change, effective after the close of business on October 16, 2024, Fidelity implemented a soft close on Fidelity Small Cap Growth Fund share classes, including FCCGX, restricting new purchases from most retail and advisor investors due to substantial inflows that prompted proactive capacity management to protect existing shareholders, while permitting redemptions, exchanges, and access via certain registered investment advisors' discretionary programs. The related Fidelity Small Cap Growth Fund (FCPGX) maintains ongoing operations under portfolio manager Patrick Venanzi, who assumed responsibility in late 2011, with no immediate plans announced to reopen closed classes as of early 2025. This adjustment reflects Fidelity's strategic response to asset growth exceeding manageable thresholds in the competitive small-cap growth segment.