<PAGE> PAGE 1
000 A000000 05/31/95
000 C000000 0000702533
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY ADVISOR SERIES III
001 B000000 811-3466
001 C000000 6175639003
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 FIDELITY ADVISOR EQUITY INCOME FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 221
019 C00AA00 FIDELITYZZ
020 A000001 FIDELITY BROKERAGE SERVICES, INC.
020 B000001 04-2653569
020 C000001 247
020 A000002 MORGAN STANLEY &CO., INC.
020 B000002 13-2655998
020 C000002 27
020 A000003 WERTHEIM SCHRODER & CO.
020 B000003 13-2697272
020 C000003 18
020 A000004 LEHMAN BROTHERS, INC.
020 B000004 13-2518466
020 C000004 18
020 A000005 GOLDMAN SACHS & CO.
<PAGE> PAGE 2
020 B000005 13-5108880
020 C000005 16
020 A000006 CJ LAWRENCE MORGAN GRENFEL, INC.
020 B000006 00-0000000
020 C000006 13
020 A000007 DONALSON LUFKIN & JENRETTE
020 B000007 00-0000000
020 C000007 12
020 A000008 FIRST BOSTON CORP. (THE)
020 B000008 13-5659485
020 C000008 12
020 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000009 13-2674085
020 C000009 12
020 A000010 ROBINSON HUMPHREY CO., INC. (THE)
020 B000010 58-1472560
020 C000010 12
021 000000 643
022 A000001 SALOMON BROTHERS, INC.
022 B000001 13-3082694
022 C000001 14505
022 D000001 10189
022 A000002 FIDELITY MAGELLAN FUND
022 B000002 04-6049970
022 C000002 12566
022 D000002 4978
022 A000003 FIDELITY BLUE CHIP GROWTH FUND
022 B000003 04-2987623
022 C000003 8952
022 D000003 993
022 A000004 FIDELITY CONTRA FUND
022 B000004 04-6056833
022 C000004 5358
022 D000004 1698
022 A000005 MERRILL LYNCH, PIERCE, FENNER, & SMITH, INC.
022 B000005 13-2674085
022 C000005 4281
022 D000005 2490
022 A000006 BT SECURITIES CORP.
022 B000006 22-2608045
022 C000006 3248
022 D000006 3102
022 A000007 FIDELITY BALANCED FUND
022 B000007 04-2935664
022 C000007 3495
022 D000007 182
022 A000008 FIDLEITY PURITAN FUND
022 B000008 04-6026952
022 C000008 1513
022 D000008 1341
022 A000009 FIDELITY ADVISOR INCOME & GROWTH PORTFOLIO
<PAGE> PAGE 3
022 B000009 04-2940575
022 C000009 1479
022 D000009 1212
022 A000010 FIDELITY STOCK SELECTOR FUND
022 B000010 04-3100163
022 C000010 0
022 D000010 2471
023 C000000 12247145
023 D000000 43537
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 Y
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
<PAGE> PAGE 4
008 A000101 FIDELITY MANAGEMENT & RESEARCH CO.
008 B000101 A
008 C000101 801-7884
008 D010101 BOSTON
008 D020101 MA
008 D030101 02109
008 A000102 FIDELITY MANAGEMENT & RESEARCH (U.K.) INC.
008 B000102 S
008 C000102 801-28773
008 D010102 LONDON
008 D050102 ENGLAND
008 A000103 FIDELITY MANAGEMENT & RESEARCH (FAR EAST) INC
008 B000103 S
008 C000103 801-28774
008 D010103 TOKYO
008 D050103 JAPAN
011 A000101 FIDELITY DISTRIBUTORS CORPORATION
011 B000101 8-8775
011 C010101 BOSTON
011 C020101 MA
011 C030101 02109
012 A000101 FIDELITY INVESTMENTS INST'L OPERATIONS CO.
012 B000101 84-00216
012 C010101 BOSTON
012 C020101 MA
012 C030101 02109
012 A000102 STATE STREET BANK & TRUST COMPANY
012 B000102 84-00000
012 C010102 BOSTON
012 C020102 MA
012 C030102 02109
013 A000101 COOPERS & LYBRAND L.L.P.
013 B010101 BOSTON
013 B020101 MA
013 B030101 02109
014 A000101 FIDELITY BROKERAGE SERVICES, INC.
014 B000101 8-23292
014 A000102 FIDELITY DISTRIBUTORS CORPORATION
014 B000102 8-8775
014 A000103 FIDELITY BROKERAGE SERVICES LTD.
014 B000103 8-0000
015 A000101 THE CHASE MANHATTAN BANK, N.A.
015 B000101 C
015 C010101 NEW YORK
015 C020101 NY
015 C030101 10015
015 E010101 X
024 000100 Y
025 A000101 MERRILL LYNCH CO., INC.
025 B000101 13-2674085
025 C000101 E
<PAGE> PAGE 5
025 D000101 5283
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 53214
028 A020100 8166
028 A030100 0
028 A040100 14773
028 B010100 54776
028 B020100 0
028 B030100 0
028 B040100 17230
028 C010100 62176
028 C020100 0
028 C030100 0
028 C040100 4752
028 D010100 78498
028 D020100 2841
028 D030100 0
028 D040100 9853
028 E010100 80553
028 E020100 0
028 E030100 0
028 E040100 9404
028 F010100 77287
028 F020100 0
028 F030100 0
028 F040100 14413
028 G010100 406504
028 G020100 11007
028 G030100 0
028 G040100 70425
028 H000100 77617
029 000100 Y
030 A000100 3871
030 B000100 4.75
030 C000100 0.00
031 A000100 638
031 B000100 0
032 000100 3233
033 000100 0
034 000100 Y
035 000100 34
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
<PAGE> PAGE 6
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 1294
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.500
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
054 A000100 Y
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
<PAGE> PAGE 7
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 N
055 B000100 Y
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 2500
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
<PAGE> PAGE 8
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 515972
071 B000100 210915
071 C000100 500621
071 D000100 42
072 A000100 6
072 B000100 4166
072 C000100 6264
072 D000100 0
072 E000100 0
072 F000100 1468
072 G000100 0
072 H000100 0
072 I000100 638
072 J000100 22
072 K000100 0
072 L000100 0
072 M000100 6
072 N000100 98
072 O000100 0
072 P000100 3
<PAGE> PAGE 9
072 Q000100 159
072 R000100 17
072 S000100 4
072 T000100 1290
072 U000100 0
072 V000100 0
072 W000100 5
072 X000100 3710
072 Y000100 40
072 Z000100 6760
072AA000100 8643
072BB000100 0
072CC010100 70786
072CC020100 0
072DD010100 3178
072DD020100 3205
072EE000100 13893
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.2800
073 C000100 0.0000
074 A000100 0
074 B000100 106202
074 C000100 0
074 D000100 41241
074 E000100 7514
074 F000100 673470
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 12716
074 K000100 0
074 L000100 15721
074 M000100 0
074 N000100 856864
074 O000100 23294
074 P000100 328
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1453
074 S000100 0
074 T000100 831789
074 U010100 13998
074 U020100 32621
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 36825
074 Y000100 0
<PAGE> PAGE 10
075 A000100 0
075 B000100 588184
076 000100 0.00
080 A000100 FEDERAL INSURANCE COMPANY
080 B000100 NATIONAL UNION COMPANY
080 C000100 210000
081 A000100 Y
081 B000100 220
082 A000100 Y
082 B000100 400
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 Y
085 B000100 N
SIGNATURE JOHN H. COSTELLO
TITLE ASST. TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702533
<NAME> Fidelity Advisor Series III
<SERIES>
<NUMBER> 11
<NAME> Fidelity Advisor Equity Portfolio: Income
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
nov-30-1995
<PERIOD-END>
may-31-1995
<INVESTMENTS-AT-COST>
747,957
<INVESTMENTS-AT-VALUE>
828,427
<RECEIVABLES>
28,437
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
856,864
<PAYABLE-FOR-SECURITIES>
23,294
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,781
<TOTAL-LIABILITIES>
25,075
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
743,191
<SHARES-COMMON-STOCK>
25,566
<SHARES-COMMON-PRIOR>
11,245
<ACCUMULATED-NII-CURRENT>
1,724
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
6,404
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
80,470
<NET-ASSETS>
831,789
<DIVIDEND-INCOME>
6,264
<INTEREST-INCOME>
4,166
<OTHER-INCOME>
0
<EXPENSES-NET>
3,670
<NET-INVESTMENT-INCOME>
6,760
<REALIZED-GAINS-CURRENT>
8,643
<APPREC-INCREASE-CURRENT>
70,786
<NET-CHANGE-FROM-OPS>
86,189
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
2,656
<DISTRIBUTIONS-OF-GAINS>
3,300
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
16,215
<NUMBER-OF-SHARES-REDEEMED>
2,245
<SHARES-REINVESTED>
351
<NET-CHANGE-IN-ASSETS>
419,382
<ACCUMULATED-NII-PRIOR>
1,347
<ACCUMULATED-GAINS-PRIOR>
10,210
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,468
<INTEREST-EXPENSE>
3
<GROSS-EXPENSE>
3,710
<AVERAGE-NET-ASSETS>
293,482
<PER-SHARE-NAV-BEGIN>
15.960
<PER-SHARE-NII>
.160
<PER-SHARE-GAIN-APPREC>
2.140
<PER-SHARE-DIVIDEND>
.170
<PER-SHARE-DISTRIBUTIONS>
.280
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
17.810
<EXPENSE-RATIO>
151
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702533
<NAME> Fidelity Advisor Series III
<SERIES>
<NUMBER> 11
<NAME> Fidelity Advisor Equity Portfolio: Income
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
nov-30-1995
<PERIOD-END>
may-31-1995
<INVESTMENTS-AT-COST>
747,957
<INVESTMENTS-AT-VALUE>
828,427
<RECEIVABLES>
28,437
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
856,864
<PAYABLE-FOR-SECURITIES>
23,294
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,781
<TOTAL-LIABILITIES>
25,075
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
743,191
<SHARES-COMMON-STOCK>
7,056
<SHARES-COMMON-PRIOR>
2,219
<ACCUMULATED-NII-CURRENT>
1,724
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
6,404
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
80,470
<NET-ASSETS>
831,789
<DIVIDEND-INCOME>
6,264
<INTEREST-INCOME>
4,166
<OTHER-INCOME>
0
<EXPENSES-NET>
3,670
<NET-INVESTMENT-INCOME>
6,760
<REALIZED-GAINS-CURRENT>
8,643
<APPREC-INCREASE-CURRENT>
70,786
<NET-CHANGE-FROM-OPS>
86,189
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
549
<DISTRIBUTIONS-OF-GAINS>
681
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
4,975
<NUMBER-OF-SHARES-REDEEMED>
209
<SHARES-REINVESTED>
72
<NET-CHANGE-IN-ASSETS>
419,382
<ACCUMULATED-NII-PRIOR>
1,347
<ACCUMULATED-GAINS-PRIOR>
10,210
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,468
<INTEREST-EXPENSE>
3
<GROSS-EXPENSE>
3,710
<AVERAGE-NET-ASSETS>
70,857
<PER-SHARE-NAV-BEGIN>
15.940
<PER-SHARE-NII>
.130
<PER-SHARE-GAIN-APPREC>
2.130
<PER-SHARE-DIVIDEND>
.150
<PER-SHARE-DISTRIBUTIONS>
.280
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
17.770
<EXPENSE-RATIO>
189
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000702533
<NAME> Fidelity Advisor Series III
<SERIES>
<NUMBER> 11
<NAME> Fidelity Advisor Equity Portfolio: Income
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
nov-30-1995
<PERIOD-END>
may-31-1995
<INVESTMENTS-AT-COST>
747,957
<INVESTMENTS-AT-VALUE>
828,427
<RECEIVABLES>
28,437
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
856,864
<PAYABLE-FOR-SECURITIES>
23,294
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
1,781
<TOTAL-LIABILITIES>
25,075
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
743,191
<SHARES-COMMON-STOCK>
13,998
<SHARES-COMMON-PRIOR>
12,291
<ACCUMULATED-NII-CURRENT>
1,724
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
6,404
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
80,470
<NET-ASSETS>
831,789
<DIVIDEND-INCOME>
6,264
<INTEREST-INCOME>
4,166
<OTHER-INCOME>
0
<EXPENSES-NET>
3,670
<NET-INVESTMENT-INCOME>
6,760
<REALIZED-GAINS-CURRENT>
8,643
<APPREC-INCREASE-CURRENT>
70,786
<NET-CHANGE-FROM-OPS>
86,189
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
3,178
<DISTRIBUTIONS-OF-GAINS>
3,529
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
3,229
<NUMBER-OF-SHARES-REDEEMED>
1,791
<SHARES-REINVESTED>
269
<NET-CHANGE-IN-ASSETS>
419,382
<ACCUMULATED-NII-PRIOR>
1,347
<ACCUMULATED-GAINS-PRIOR>
10,210
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
1,468
<INTEREST-EXPENSE>
3
<GROSS-EXPENSE>
3,710
<AVERAGE-NET-ASSETS>
223,846
<PER-SHARE-NAV-BEGIN>
16.070
<PER-SHARE-NII>
.230
<PER-SHARE-GAIN-APPREC>
2.150
<PER-SHARE-DIVIDEND>
.240
<PER-SHARE-DISTRIBUTIONS>
.280
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
17.930
<EXPENSE-RATIO>
74
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
