Fidelity Advisor Magellan Fund - Class I (FMAOX)

Fidelity Advisor Magellan Fund – Institutional Class is a diversified mutual fund with a primary focus on large-cap U.S. equities. Its investment objective is capital appreciation, achieved by employing a growth-oriented strategy that targets companies poised to benefit from long-term 'mega trends'—broad, powerful shifts shaping industries and consumer behavior. The fund emphasizes investments in high-quality growth stocks, favoring businesses with strong brands, significant barriers to entry, and best-in-class management teams. Notable holdings include leading technology and healthcare firms such as NVIDIA, Microsoft, Amazon, and Eli Lilly, highlighting the fund's focus on sectors driving innovation and market expansion. The fund's portfolio construction uses an equal-active-weight approach, ensuring risk diversification by limiting overexposure to any single position. Managed by an experienced team, this fund plays a significant role for institutional investors seeking exposure to domestic growth equities while aiming to balance consistent performance with downside protection potential. Its long-standing track record and disciplined investment process contribute to its prominence within the large growth mutual fund category.