0000035341-12-000110.txt : 20121129 0000035341-12-000110.hdr.sgml : 20121129 20121129124201 ACCESSION NUMBER: 0000035341-12-000110 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121129 DATE AS OF CHANGE: 20121129 EFFECTIVENESS DATE: 20121129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY HASTINGS STREET TRUST CENTRAL INDEX KEY: 0000035348 IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-00215 FILM NUMBER: 121230979 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY FUND INC DATE OF NAME CHANGE: 19851205 0000035348 S000007019 Fidelity Growth Discovery Fund C000019191 Fidelity Growth Discovery Fund FDSVX C000064239 Class K FGDKX 0000035348 S000007020 Fidelity Fifty C000019192 Fidelity Fifty FFTYX 0000035348 S000007021 Fidelity Fund C000019193 Fidelity Fund FFIDX C000064240 Class K FFDKX 0000035348 S000007022 Fidelity Mega Cap Stock Fund C000019194 Fidelity Mega Cap Stock Fund FGRTX C000059099 Fidelity Advisor Mega Cap Stock Fund: Class A FGTAX C000059100 Fidelity Advisor Mega Cap Stock Fund: Class B FGRBX C000059101 Fidelity Advisor Mega Cap Stock Fund: Class C FGRCX C000059102 Fidelity Advisor Mega Cap Stock Fund: Class T FTGRX C000059103 Fidelity Advisor Mega Cap Stock Fund: Institutional Class FTRIX N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-215

Fidelity Hastings Street Trust
 (Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
 (Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

June 30

 

 

Date of reporting period:

September 30, 2012

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Fund

September 30, 2012 

1.808776.108

FID-QTLY-1112

Investments September 30, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.4%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 9.7%

Hotels, Restaurants & Leisure - 1.6%

McDonald's Corp.

352,300

$ 32,324

Starbucks Corp.

490,298

24,883

Yum! Brands, Inc.

436,900

28,984

 

86,191

Household Durables - 1.6%

D.R. Horton, Inc.

1,815,600

37,474

PulteGroup, Inc. (a)

521,100

8,077

Ryland Group, Inc.

651,000

19,530

Whirlpool Corp.

264,100

21,897

 

86,978

Internet & Catalog Retail - 1.2%

Amazon.com, Inc. (a)

246,200

62,614

Media - 2.6%

Comcast Corp. Class A

1,732,000

61,954

The Walt Disney Co.

1,023,800

53,524

Virgin Media, Inc. (d)

890,400

26,213

 

141,691

Specialty Retail - 2.3%

Home Depot, Inc.

1,319,800

79,676

TJX Companies, Inc.

918,900

41,158

 

120,834

Textiles, Apparel & Luxury Goods - 0.4%

Ralph Lauren Corp.

143,873

21,758

TOTAL CONSUMER DISCRETIONARY

520,066

CONSUMER STAPLES - 9.8%

Beverages - 3.1%

Beam, Inc.

169,300

9,742

Dr Pepper Snapple Group, Inc.

351,600

15,657

Grupo Modelo SAB de CV Series C

2,373,700

21,397

The Coca-Cola Co.

3,106,000

117,811

 

164,607

Food & Staples Retailing - 2.5%

CVS Caremark Corp.

926,700

44,871

Wal-Mart Stores, Inc.

1,223,600

90,302

 

135,173

Food Products - 1.0%

Kraft Foods, Inc. Class A

1,323,400

54,723

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Household Products - 0.6%

Colgate-Palmolive Co.

230,400

$ 24,703

Kimberly-Clark Corp.

70,000

6,005

 

30,708

Tobacco - 2.6%

British American Tobacco PLC (United Kingdom)

403,900

20,754

Japan Tobacco, Inc.

524,000

15,725

Lorillard, Inc.

156,000

18,166

Philip Morris International, Inc.

947,900

85,254

 

139,899

TOTAL CONSUMER STAPLES

525,110

ENERGY - 11.5%

Energy Equipment & Services - 1.4%

Ocean Rig UDW, Inc. (United States)

998,710

16,289

Schlumberger Ltd.

640,300

46,313

Seadrill Ltd.

301,400

11,821

 

74,423

Oil, Gas & Consumable Fuels - 10.1%

Anadarko Petroleum Corp.

310,700

21,724

Cheniere Energy, Inc. (a)

439,100

6,828

Chevron Corp.

1,401,200

163,324

EV Energy Partners LP

259,500

16,120

Exxon Mobil Corp.

1,174,700

107,426

Golar LNG Ltd. (NASDAQ)

329,000

12,696

Hess Corp.

221,800

11,915

HollyFrontier Corp.

298,400

12,315

InterOil Corp. (a)(d)

269,900

20,852

Marathon Petroleum Corp.

673,800

36,783

Occidental Petroleum Corp.

470,700

40,508

Phillips 66

257,000

11,917

The Williams Companies, Inc.

1,197,000

41,859

Valero Energy Corp.

739,800

23,437

WPX Energy, Inc.

755,300

12,530

 

540,234

TOTAL ENERGY

614,657

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - 14.6%

Capital Markets - 1.5%

Goldman Sachs Group, Inc.

187,100

$ 21,270

Morgan Stanley

2,573,700

43,084

T. Rowe Price Group, Inc.

280,200

17,737

 

82,091

Commercial Banks - 5.7%

CIT Group, Inc. (a)

177,541

6,993

M&T Bank Corp.

290,200

27,615

SunTrust Banks, Inc.

1,190,300

33,650

U.S. Bancorp

2,611,000

89,557

Wells Fargo & Co.

3,883,767

134,106

Zions Bancorporation

666,551

13,768

 

305,689

Consumer Finance - 1.6%

American Express Co.

567,092

32,245

Discover Financial Services

1,323,400

52,579

 

84,824

Diversified Financial Services - 3.3%

Bank of America Corp.

3,933,400

34,732

Citigroup, Inc.

1,667,610

54,564

JPMorgan Chase & Co.

2,121,900

85,895

 

175,191

Insurance - 1.5%

American International Group, Inc. (a)

250,000

8,198

Berkshire Hathaway, Inc. Class B (a)

592,400

52,250

The Chubb Corp.

225,100

17,171

 

77,619

Real Estate Investment Trusts - 1.0%

American Tower Corp.

603,300

43,070

Public Storage

87,900

12,233

 

55,303

TOTAL FINANCIALS

780,717

HEALTH CARE - 13.3%

Biotechnology - 5.1%

Acorda Therapeutics, Inc. (a)

551,237

14,117

Amgen, Inc.

1,164,700

98,208

Biogen Idec, Inc. (a)

389,600

58,140

BioMarin Pharmaceutical, Inc. (a)

356,400

14,352

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Biotechnology - continued

Gilead Sciences, Inc. (a)

457,400

$ 30,339

Grifols SA ADR

316,700

7,230

Theravance, Inc. (a)

710,200

18,401

Vertex Pharmaceuticals, Inc. (a)

588,500

32,927

 

273,714

Health Care Equipment & Supplies - 0.5%

Covidien PLC

446,500

26,531

Health Care Providers & Services - 1.5%

Brookdale Senior Living, Inc. (a)

838,400

19,468

Henry Schein, Inc. (a)

351,300

27,848

Humana, Inc.

117,700

8,257

Qualicorp SA (a)

281,000

2,745

UnitedHealth Group, Inc.

330,700

18,324

 

76,642

Pharmaceuticals - 6.2%

Allergan, Inc.

445,200

40,771

AVANIR Pharmaceuticals Class A (a)(d)

1,337,500

4,280

Elan Corp. PLC sponsored ADR (a)

1,648,296

17,670

Eli Lilly & Co.

984,300

46,666

Merck & Co., Inc.

1,941,100

87,544

Perrigo Co.

213,300

24,779

Pfizer, Inc.

4,479,400

111,313

 

333,023

TOTAL HEALTH CARE

709,910

INDUSTRIALS - 7.1%

Aerospace & Defense - 0.9%

Raytheon Co.

232,600

13,295

Textron, Inc.

1,385,800

36,266

 

49,561

Building Products - 1.2%

Armstrong World Industries, Inc.

948,400

43,977

Owens Corning (a)

560,900

18,768

 

62,745

Industrial Conglomerates - 3.1%

Danaher Corp.

443,800

24,476

General Electric Co.

6,275,700

142,521

 

166,997

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Machinery - 0.4%

Cummins, Inc.

199,400

$ 18,387

Marine - 0.1%

DryShips, Inc. (a)(d)

2,161,600

5,058

Road & Rail - 1.4%

Union Pacific Corp.

643,300

76,360

TOTAL INDUSTRIALS

379,108

INFORMATION TECHNOLOGY - 20.8%

Communications Equipment - 2.6%

Motorola Solutions, Inc.

1,274,000

64,401

QUALCOMM, Inc.

1,180,800

73,788

 

138,189

Computers & Peripherals - 7.6%

Apple, Inc.

605,600

404,088

Electronic Equipment & Components - 1.1%

Amphenol Corp. Class A

972,738

57,275

Internet Software & Services - 4.9%

eBay, Inc. (a)

1,731,900

83,841

Facebook, Inc. Class B (a)(e)

260,071

5,067

Google, Inc. Class A (a)

211,800

159,803

LinkedIn Corp. (a)

115,700

13,930

 

262,641

IT Services - 1.8%

Cognizant Technology Solutions Corp. Class A (a)

323,100

22,591

Fidelity National Information Services, Inc.

260,700

8,139

IBM Corp.

312,000

64,724

 

95,454

Semiconductors & Semiconductor Equipment - 1.9%

Altera Corp.

737,300

25,057

ASML Holding NV

555,100

29,798

NXP Semiconductors NV (a)

663,500

16,594

Samsung Electronics Co. Ltd.

25,968

31,385

 

102,834

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Software - 0.9%

Citrix Systems, Inc. (a)

289,900

$ 22,198

Microsoft Corp.

858,800

25,575

 

47,773

TOTAL INFORMATION TECHNOLOGY

1,108,254

MATERIALS - 3.9%

Chemicals - 2.6%

Eastman Chemical Co.

541,100

30,848

LyondellBasell Industries NV Class A

200,000

10,332

Monsanto Co.

594,900

54,148

Sherwin-Williams Co.

120,600

17,959

W.R. Grace & Co. (a)

448,100

26,474

 

139,761

Construction Materials - 0.3%

Lafarge SA (Bearer)

244,700

13,179

Metals & Mining - 1.0%

Freeport-McMoRan Copper & Gold, Inc.

394,000

15,595

Goldcorp, Inc.

582,700

26,755

Newmont Mining Corp.

206,000

11,538

 

53,888

TOTAL MATERIALS

206,828

TELECOMMUNICATION SERVICES - 3.0%

Diversified Telecommunication Services - 2.0%

CenturyLink, Inc.

657,100

26,547

Iliad SA

120,165

19,565

Verizon Communications, Inc.

1,328,800

60,553

 

106,665

Wireless Telecommunication Services - 1.0%

Sprint Nextel Corp. (a)

4,093,200

22,594

Vodafone Group PLC sponsored ADR

1,126,300

32,094

 

54,688

TOTAL TELECOMMUNICATION SERVICES

161,353

Common Stocks - continued

Shares

Value (000s)

UTILITIES - 2.7%

Electric Utilities - 1.7%

Edison International

671,400

$ 30,676

NextEra Energy, Inc.

478,700

33,667

PPL Corp.

597,000

17,343

Southern Co.

141,300

6,513

 

88,199

Gas Utilities - 0.5%

ONEOK, Inc.

603,300

29,145

Multi-Utilities - 0.5%

Sempra Energy

393,200

25,357

TOTAL UTILITIES

142,701

TOTAL COMMON STOCKS

(Cost $4,363,293)


5,148,704

Convertible Preferred Stocks - 0.1%

 

 

 

 

INDUSTRIALS - 0.1%

Aerospace & Defense - 0.1%

United Technologies Corp. 7.50%

(Cost $5,280)

105,600

5,924

Money Market Funds - 1.4%

 

 

 

 

Fidelity Cash Central Fund, 0.17% (b)

41,128,232

41,128

Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)

34,594,672

34,595

TOTAL MONEY MARKET FUNDS

(Cost $75,723)


75,723

TOTAL INVESTMENT PORTFOLIO - 97.9%

(Cost $4,444,296)

5,230,351

NET OTHER ASSETS (LIABILITIES) - 2.1%

113,373

NET ASSETS - 100%

$ 5,343,724

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,067,000 or 0.1% of net assets.

Additional information on each restricted holding is as follows:

Security

Acquisition
Date

Acquisition
Cost (000s)

Facebook, Inc. Class B

3/31/11 - 5/19/11

$ 6,504

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 54

Fidelity Securities Lending Cash Central Fund

235

Total

$ 289

Other Information

The following is a summary of the inputs used, as of September 30, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 520,066

$ 520,066

$ -

$ -

Consumer Staples

525,110

504,356

20,754

-

Energy

614,657

614,657

-

-

Financials

780,717

780,717

-

-

Health Care

709,910

709,910

-

-

Industrials

385,032

385,032

-

-

Information Technology

1,108,254

1,103,187

5,067

-

Materials

206,828

206,828

-

-

Telecommunication Services

161,353

161,353

-

-

Utilities

142,701

142,701

-

-

Money Market Funds

75,723

75,723

-

-

Total Investments in Securities:

$ 5,230,351

$ 5,204,530

$ 25,821

$ -

The following is a summary of transfers between Level 1 and Level 2 for the period ended September 30, 2012. Transfers are assumed to have occurred at the beginning of the period, and are primarily attributable to the valuation techniques used for foreign equity securities, as discussed at the end of this listing:

Transfers

Total (000s)

Level 1 to Level 2

$ 0

Level 2 to Level 1

$ 71,748

Income Tax Information

At September 30, 2012, the cost of investment securities for income tax purposes was $4,476,177,000. Net unrealized appreciation aggregated $754,174,000, of which $843,779,000 related to appreciated investment securities and $89,605,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and these securities are categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Fifty

September 30, 2012
 

1.808769.108

FIF-QTLY-1112

Investments September 30, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%

Shares

Value

CONSUMER DISCRETIONARY - 14.0%

Household Durables - 1.6%

PulteGroup, Inc. (a)

718,000

$ 11,129,000

Internet & Catalog Retail - 1.1%

Amazon.com, Inc. (a)

29,000

7,375,280

Media - 3.2%

Comcast Corp. Class A

375,900

13,445,943

Discovery Communications, Inc. (a)

122,000

7,274,860

Sirius XM Radio, Inc. (a)

499,000

1,297,400

 

22,018,203

Specialty Retail - 7.4%

Cabela's, Inc. Class A (a)

271,800

14,862,024

PetSmart, Inc.

41,000

2,828,180

TJX Companies, Inc.

730,000

32,696,700

 

50,386,904

Textiles, Apparel & Luxury Goods - 0.7%

Under Armour, Inc. Class A (sub. vtg.) (a)(d)

78,100

4,360,323

TOTAL CONSUMER DISCRETIONARY

95,269,710

CONSUMER STAPLES - 6.0%

Beverages - 2.8%

Anheuser-Busch InBev SA NV

147,000

12,575,654

Constellation Brands, Inc. Class A (sub. vtg.) (a)

205,000

6,631,750

 

19,207,404

Food & Staples Retailing - 1.9%

Wal-Mart Stores, Inc.

181,000

13,357,800

Personal Products - 0.3%

Estee Lauder Companies, Inc. Class A

34,200

2,105,694

Tobacco - 1.0%

Altria Group, Inc.

199,800

6,671,322

TOTAL CONSUMER STAPLES

41,342,220

ENERGY - 13.8%

Energy Equipment & Services - 1.7%

Cameron International Corp. (a)

199,000

11,157,930

Oil, Gas & Consumable Fuels - 12.1%

Cabot Oil & Gas Corp.

275,000

12,347,500

Chevron Corp.

122,000

14,220,320

EOG Resources, Inc.

59,000

6,610,950

Common Stocks - continued

Shares

Value

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

Noble Energy, Inc.

155,899

$ 14,453,396

Phillips 66

342,000

15,858,540

Pioneer Natural Resources Co.

184,500

19,261,800

 

82,752,506

TOTAL ENERGY

93,910,436

FINANCIALS - 15.3%

Commercial Banks - 6.9%

Fifth Third Bancorp

223,000

3,458,730

Wells Fargo & Co.

1,270,000

43,853,100

 

47,311,830

Consumer Finance - 2.9%

Discover Financial Services

505,500

20,083,515

Diversified Financial Services - 2.0%

Citigroup, Inc.

417,000

13,644,240

Insurance - 1.5%

Berkshire Hathaway, Inc. Class B (a)

115,000

10,143,000

Real Estate Investment Trusts - 2.0%

American Tower Corp.

189,000

13,492,710

TOTAL FINANCIALS

104,675,295

HEALTH CARE - 14.3%

Biotechnology - 10.9%

Amgen, Inc.

262,000

22,091,840

Biogen Idec, Inc. (a)

153,600

22,921,728

Gilead Sciences, Inc. (a)

317,000

21,026,610

Onyx Pharmaceuticals, Inc. (a)

97,000

8,196,500

 

74,236,678

Health Care Providers & Services - 0.4%

Catamaran Corp. (a)

28,000

2,744,177

Pharmaceuticals - 3.0%

Abbott Laboratories

94,000

6,444,640

Merck & Co., Inc.

183,000

8,253,300

Pfizer, Inc.

248,000

6,162,800

 

20,860,740

TOTAL HEALTH CARE

97,841,595

Common Stocks - continued

Shares

Value

INDUSTRIALS - 9.0%

Industrial Conglomerates - 5.1%

General Electric Co.

1,515,000

$ 34,405,650

Road & Rail - 3.9%

J.B. Hunt Transport Services, Inc.

119,000

6,192,760

Kansas City Southern

164,800

12,488,544

Union Pacific Corp.

69,000

8,190,300

 

26,871,604

TOTAL INDUSTRIALS

61,277,254

INFORMATION TECHNOLOGY - 22.3%

Computers & Peripherals - 5.0%

Apple, Inc.

51,226

34,181,061

Internet Software & Services - 6.8%

eBay, Inc. (a)

410,700

19,881,987

Google, Inc. Class A (a)

34,800

26,256,600

 

46,138,587

IT Services - 7.7%

Accenture PLC Class A

53,000

3,711,590

MasterCard, Inc. Class A

107,500

48,534,099

 

52,245,689

Software - 2.8%

Citrix Systems, Inc. (a)

11,800

903,526

salesforce.com, Inc. (a)

121,600

18,567,104

 

19,470,630

TOTAL INFORMATION TECHNOLOGY

152,035,967

MATERIALS - 1.2%

Chemicals - 1.2%

Sherwin-Williams Co.

55,000

8,190,050

TELECOMMUNICATION SERVICES - 1.5%

Diversified Telecommunication Services - 0.4%

AT&T, Inc.

69,800

2,631,460

Wireless Telecommunication Services - 1.1%

Sprint Nextel Corp. (a)

1,389,000

7,667,280

TOTAL TELECOMMUNICATION SERVICES

10,298,740

Common Stocks - continued

Shares

Value

UTILITIES - 1.2%

Multi-Utilities - 1.2%

Sempra Energy

123,000

$ 7,932,270

TOTAL COMMON STOCKS

(Cost $600,915,136)


672,773,537

Money Market Funds - 0.8%

 

 

 

 

Fidelity Cash Central Fund, 0.17% (b)

1,594,907

1,594,907

Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)

3,887,275

3,887,275

TOTAL MONEY MARKET FUNDS

(Cost $5,482,182)


5,482,182

TOTAL INVESTMENT PORTFOLIO - 99.4%

(Cost $606,397,318)

678,255,719

NET OTHER ASSETS (LIABILITIES) - 0.6%

4,131,238

NET ASSETS - 100%

$ 682,386,957

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 988

Fidelity Securities Lending Cash Central Fund

2,118

Total

$ 3,106

Other Information

The following is a summary of the inputs used, as of September 30, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 95,269,710

$ 95,269,710

$ -

$ -

Consumer Staples

41,342,220

28,766,566

12,575,654

-

Energy

93,910,436

93,910,436

-

-

Financials

104,675,295

104,675,295

-

-

Health Care

97,841,595

97,841,595

-

-

Industrials

61,277,254

61,277,254

-

-

Information Technology

152,035,967

152,035,967

-

-

Materials

8,190,050

8,190,050

-

-

Telecommunication Services

10,298,740

10,298,740

-

-

Utilities

7,932,270

7,932,270

-

-

Money Market Funds

5,482,182

5,482,182

-

-

Total Investments in Securities:

$ 678,255,719

$ 665,680,065

$ 12,575,654

$ -

Income Tax Information

At September 30, 2012, the cost of investment securities for income tax purposes was $610,726,838. Net unrealized appreciation aggregated $67,528,881, of which $72,940,936 related to appreciated investment securities and $5,412,055 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Mega Cap Stock Fund

September 30, 2012 

1.808770.108

GII-QTLY-1112

Investments September 30, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%

Shares

Value

CONSUMER DISCRETIONARY - 12.0%

Auto Components - 0.4%

Johnson Controls, Inc.

305,100

$ 8,359,740

Automobiles - 0.4%

Bayerische Motoren Werke AG (BMW)

97,079

7,099,600

Hotels, Restaurants & Leisure - 0.9%

McDonald's Corp.

161,900

14,854,325

Yum! Brands, Inc.

42,900

2,845,986

 

17,700,311

Internet & Catalog Retail - 0.2%

Priceline.com, Inc. (a)

5,100

3,155,523

Media - 6.4%

Comcast Corp. Class A (special) (non-vtg.)

1,298,700

45,194,760

News Corp. Class A

283,900

6,964,067

The Walt Disney Co.

316,600

16,551,848

Thomson Reuters Corp.

128,900

3,726,313

Time Warner Cable, Inc.

76,700

7,291,102

Time Warner, Inc.

770,600

34,931,298

Viacom, Inc. Class B (non-vtg.)

241,800

12,958,062

 

127,617,450

Multiline Retail - 1.4%

Target Corp.

441,700

28,034,699

Specialty Retail - 2.3%

Home Depot, Inc.

181,800

10,975,266

Lowe's Companies, Inc.

1,149,600

34,763,904

 

45,739,170

TOTAL CONSUMER DISCRETIONARY

237,706,493

CONSUMER STAPLES - 10.6%

Beverages - 2.7%

PepsiCo, Inc.

345,100

24,422,727

The Coca-Cola Co.

766,900

29,088,517

 

53,511,244

Food & Staples Retailing - 2.2%

CVS Caremark Corp.

305,400

14,787,468

Walgreen Co.

810,000

29,516,400

 

44,303,868

Food Products - 0.8%

Kellogg Co.

297,500

15,368,850

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Household Products - 3.6%

Colgate-Palmolive Co.

43,300

$ 4,642,626

Kimberly-Clark Corp.

253,300

21,728,074

Procter & Gamble Co.

646,200

44,820,432

 

71,191,132

Personal Products - 0.1%

L'Oreal SA

15,200

1,880,223

Tobacco - 1.2%

British American Tobacco PLC sponsored ADR

166,200

17,058,768

Philip Morris International, Inc.

70,530

6,343,468

 

23,402,236

TOTAL CONSUMER STAPLES

209,657,553

ENERGY - 13.6%

Energy Equipment & Services - 2.2%

Halliburton Co.

547,400

18,441,906

National Oilwell Varco, Inc.

101,300

8,115,143

Schlumberger Ltd.

244,700

17,699,151

 

44,256,200

Oil, Gas & Consumable Fuels - 11.4%

Apache Corp.

160,305

13,861,573

BP PLC sponsored ADR

231,900

9,823,284

Canadian Natural Resources Ltd.

270,400

8,342,215

Chevron Corp.

506,200

59,002,672

Exxon Mobil Corp.

662,871

60,619,553

Occidental Petroleum Corp.

243,000

20,912,580

Royal Dutch Shell PLC Class A sponsored ADR

334,706

23,231,943

Suncor Energy, Inc.

604,000

19,869,149

The Williams Companies, Inc.

281,000

9,826,570

 

225,489,539

TOTAL ENERGY

269,745,739

FINANCIALS - 16.1%

Capital Markets - 2.7%

BlackRock, Inc. Class A

37,000

6,597,100

Charles Schwab Corp.

1,321,200

16,898,148

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Capital Markets - continued

Goldman Sachs Group, Inc.

75,900

$ 8,628,312

Morgan Stanley

1,234,400

20,663,856

 

52,787,416

Commercial Banks - 5.0%

BB&T Corp.

137,800

4,569,448

Standard Chartered PLC (United Kingdom)

129,782

2,934,008

U.S. Bancorp

608,900

20,885,270

Wells Fargo & Co.

2,052,730

70,880,767

 

99,269,493

Diversified Financial Services - 7.1%

Bank of America Corp.

1,715,000

15,143,450

Citigroup, Inc.

1,109,870

36,314,946

CME Group, Inc.

168,600

9,660,780

JPMorgan Chase & Co.

1,988,300

80,486,384

 

141,605,560

Insurance - 1.3%

AFLAC, Inc.

66,300

3,174,444

MetLife, Inc.

576,600

19,869,636

Prudential Financial, Inc.

43,800

2,387,538

 

25,431,618

TOTAL FINANCIALS

319,094,087

HEALTH CARE - 12.3%

Biotechnology - 0.9%

Amgen, Inc.

215,690

18,186,981

Health Care Equipment & Supplies - 0.4%

Baxter International, Inc.

134,100

8,080,866

Health Care Providers & Services - 3.2%

Aetna, Inc.

308,600

12,220,560

Cardinal Health, Inc.

46,600

1,816,002

McKesson Corp.

254,400

21,886,032

UnitedHealth Group, Inc.

124,800

6,915,168

WellPoint, Inc.

363,300

21,075,033

 

63,912,795

Life Sciences Tools & Services - 0.4%

Thermo Fisher Scientific, Inc.

124,900

7,347,867

Pharmaceuticals - 7.4%

Abbott Laboratories

290,200

19,896,112

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Eli Lilly & Co.

296,400

$ 14,052,324

GlaxoSmithKline PLC sponsored ADR

173,200

8,008,768

Johnson & Johnson

552,800

38,093,448

Merck & Co., Inc.

923,800

41,663,380

Pfizer, Inc.

1,000,600

24,864,910

 

146,578,942

TOTAL HEALTH CARE

244,107,451

INDUSTRIALS - 8.6%

Aerospace & Defense - 2.4%

Honeywell International, Inc.

162,400

9,703,400

Raytheon Co.

177,700

10,157,332

The Boeing Co.

179,000

12,461,980

United Technologies Corp.

205,400

16,080,766

 

48,403,478

Air Freight & Logistics - 1.0%

United Parcel Service, Inc. Class B

284,100

20,333,037

Electrical Equipment - 0.4%

Emerson Electric Co.

154,200

7,443,234

Industrial Conglomerates - 3.9%

Danaher Corp.

191,000

10,533,650

General Electric Co.

2,650,800

60,199,668

Tyco International Ltd.

124,100

6,981,866

 

77,715,184

Machinery - 0.6%

Cummins, Inc.

31,900

2,941,499

Illinois Tool Works, Inc.

140,900

8,379,323

 

11,320,822

Road & Rail - 0.3%

Union Pacific Corp.

41,200

4,890,440

TOTAL INDUSTRIALS

170,106,195

INFORMATION TECHNOLOGY - 21.4%

Communications Equipment - 2.4%

Cisco Systems, Inc.

1,493,100

28,503,279

QUALCOMM, Inc.

294,300

18,390,807

 

46,894,086

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Computers & Peripherals - 7.3%

Apple, Inc.

188,501

$ 125,779,179

EMC Corp. (a)

531,400

14,491,278

Hewlett-Packard Co.

314,800

5,370,488

 

145,640,945

Electronic Equipment & Components - 0.2%

Corning, Inc.

300,100

3,946,315

Internet Software & Services - 2.9%

Facebook, Inc. Class A

71,500

1,547,975

Google, Inc. Class A (a)

73,550

55,493,475

 

57,041,450

IT Services - 4.1%

Accenture PLC Class A

40,900

2,864,227

Cognizant Technology Solutions Corp. Class A (a)

219,700

15,361,424

IBM Corp.

87,100

18,068,895

MasterCard, Inc. Class A

58,700

26,501,876

Visa, Inc. Class A

138,700

18,624,636

 

81,421,058

Semiconductors & Semiconductor Equipment - 0.3%

Broadcom Corp. Class A

189,400

6,549,452

Software - 4.2%

Adobe Systems, Inc. (a)

30,300

983,538

Microsoft Corp.

1,724,300

51,349,654

Oracle Corp.

693,300

21,832,017

salesforce.com, Inc. (a)

32,200

4,916,618

VMware, Inc. Class A (a)

41,500

4,014,710

 

83,096,537

TOTAL INFORMATION TECHNOLOGY

424,589,843

MATERIALS - 1.3%

Chemicals - 1.3%

Air Products & Chemicals, Inc.

64,000

5,292,800

The Dow Chemical Co.

129,200

3,741,632

E.I. du Pont de Nemours & Co.

175,500

8,822,385

Syngenta AG (Switzerland)

24,700

9,239,835

 

27,096,652

Common Stocks - continued

Shares

Value

TELECOMMUNICATION SERVICES - 1.1%

Diversified Telecommunication Services - 0.4%

Verizon Communications, Inc.

175,600

$ 8,002,092

Wireless Telecommunication Services - 0.7%

Vodafone Group PLC sponsored ADR

520,000

14,817,400

TOTAL TELECOMMUNICATION SERVICES

22,819,492

UTILITIES - 1.1%

Electric Utilities - 0.9%

Duke Energy Corp.

45,499

2,948,335

FirstEnergy Corp.

246,400

10,866,240

NextEra Energy, Inc.

60,400

4,247,932

 

18,062,507

Multi-Utilities - 0.2%

PG&E Corp.

89,500

3,818,965

TOTAL UTILITIES

21,881,472

TOTAL COMMON STOCKS

(Cost $1,744,356,451)


1,946,804,977

Preferred Stocks - 0.7%

 

 

 

 

Convertible Preferred Stocks - 0.1%

INDUSTRIALS - 0.1%

Aerospace & Defense - 0.1%

United Technologies Corp. 7.50%

32,400

1,817,640

Nonconvertible Preferred Stocks - 0.6%

CONSUMER DISCRETIONARY - 0.6%

Automobiles - 0.6%

Volkswagen AG

63,400

11,564,974

TOTAL PREFERRED STOCKS

(Cost $12,211,191)


13,382,614

Money Market Funds - 1.3%

Shares

Value

Fidelity Cash Central Fund, 0.17% (b)
(Cost $26,691,188)

26,691,188

$ 26,691,188

TOTAL INVESTMENT PORTFOLIO - 100.1%

(Cost $1,783,258,830)

1,986,878,779

NET OTHER ASSETS (LIABILITIES) - (0.1)%

(2,642,441)

NET ASSETS - 100%

$ 1,984,236,338

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 12,313

Fidelity Securities Lending Cash Central Fund

6,089

Total

$ 18,402

Other Information

The following is a summary of the inputs used, as of September 30, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 249,271,467

$ 249,271,467

$ -

$ -

Consumer Staples

209,657,553

209,657,553

-

-

Energy

269,745,739

269,745,739

-

-

Financials

319,094,087

319,094,087

-

-

Health Care

244,107,451

244,107,451

-

-

Industrials

171,923,835

171,923,835

-

-

Information Technology

424,589,843

424,589,843

-

-

Materials

27,096,652

17,856,817

9,239,835

-

Telecommunication Services

22,819,492

22,819,492

-

-

Utilities

21,881,472

21,881,472

-

-

Money Market Funds

26,691,188

26,691,188

-

-

Total Investments in Securities:

$ 1,986,878,779

$ 1,977,638,944

$ 9,239,835

$ -

Income Tax Information

At September 30, 2012, the cost of investment securities for income tax purposes was $1,791,011,808. Net unrealized appreciation aggregated $195,866,971, of which $242,026,670 related to appreciated investment securities and $46,159,699 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity Advisor® Mega Cap
Stock Fund
Class A
Class T
Class B
Class C
Institutional Class

September 30, 2012

Class A, Class T, Class B, Class C and
Institutional Class are classes of
Fidelity® Mega Cap Stock Fund 

1.864816.104

AGII-QTLY-1112

Investments September 30, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%

Shares

Value

CONSUMER DISCRETIONARY - 12.0%

Auto Components - 0.4%

Johnson Controls, Inc.

305,100

$ 8,359,740

Automobiles - 0.4%

Bayerische Motoren Werke AG (BMW)

97,079

7,099,600

Hotels, Restaurants & Leisure - 0.9%

McDonald's Corp.

161,900

14,854,325

Yum! Brands, Inc.

42,900

2,845,986

 

17,700,311

Internet & Catalog Retail - 0.2%

Priceline.com, Inc. (a)

5,100

3,155,523

Media - 6.4%

Comcast Corp. Class A (special) (non-vtg.)

1,298,700

45,194,760

News Corp. Class A

283,900

6,964,067

The Walt Disney Co.

316,600

16,551,848

Thomson Reuters Corp.

128,900

3,726,313

Time Warner Cable, Inc.

76,700

7,291,102

Time Warner, Inc.

770,600

34,931,298

Viacom, Inc. Class B (non-vtg.)

241,800

12,958,062

 

127,617,450

Multiline Retail - 1.4%

Target Corp.

441,700

28,034,699

Specialty Retail - 2.3%

Home Depot, Inc.

181,800

10,975,266

Lowe's Companies, Inc.

1,149,600

34,763,904

 

45,739,170

TOTAL CONSUMER DISCRETIONARY

237,706,493

CONSUMER STAPLES - 10.6%

Beverages - 2.7%

PepsiCo, Inc.

345,100

24,422,727

The Coca-Cola Co.

766,900

29,088,517

 

53,511,244

Food & Staples Retailing - 2.2%

CVS Caremark Corp.

305,400

14,787,468

Walgreen Co.

810,000

29,516,400

 

44,303,868

Food Products - 0.8%

Kellogg Co.

297,500

15,368,850

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Household Products - 3.6%

Colgate-Palmolive Co.

43,300

$ 4,642,626

Kimberly-Clark Corp.

253,300

21,728,074

Procter & Gamble Co.

646,200

44,820,432

 

71,191,132

Personal Products - 0.1%

L'Oreal SA

15,200

1,880,223

Tobacco - 1.2%

British American Tobacco PLC sponsored ADR

166,200

17,058,768

Philip Morris International, Inc.

70,530

6,343,468

 

23,402,236

TOTAL CONSUMER STAPLES

209,657,553

ENERGY - 13.6%

Energy Equipment & Services - 2.2%

Halliburton Co.

547,400

18,441,906

National Oilwell Varco, Inc.

101,300

8,115,143

Schlumberger Ltd.

244,700

17,699,151

 

44,256,200

Oil, Gas & Consumable Fuels - 11.4%

Apache Corp.

160,305

13,861,573

BP PLC sponsored ADR

231,900

9,823,284

Canadian Natural Resources Ltd.

270,400

8,342,215

Chevron Corp.

506,200

59,002,672

Exxon Mobil Corp.

662,871

60,619,553

Occidental Petroleum Corp.

243,000

20,912,580

Royal Dutch Shell PLC Class A sponsored ADR

334,706

23,231,943

Suncor Energy, Inc.

604,000

19,869,149

The Williams Companies, Inc.

281,000

9,826,570

 

225,489,539

TOTAL ENERGY

269,745,739

FINANCIALS - 16.1%

Capital Markets - 2.7%

BlackRock, Inc. Class A

37,000

6,597,100

Charles Schwab Corp.

1,321,200

16,898,148

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Capital Markets - continued

Goldman Sachs Group, Inc.

75,900

$ 8,628,312

Morgan Stanley

1,234,400

20,663,856

 

52,787,416

Commercial Banks - 5.0%

BB&T Corp.

137,800

4,569,448

Standard Chartered PLC (United Kingdom)

129,782

2,934,008

U.S. Bancorp

608,900

20,885,270

Wells Fargo & Co.

2,052,730

70,880,767

 

99,269,493

Diversified Financial Services - 7.1%

Bank of America Corp.

1,715,000

15,143,450

Citigroup, Inc.

1,109,870

36,314,946

CME Group, Inc.

168,600

9,660,780

JPMorgan Chase & Co.

1,988,300

80,486,384

 

141,605,560

Insurance - 1.3%

AFLAC, Inc.

66,300

3,174,444

MetLife, Inc.

576,600

19,869,636

Prudential Financial, Inc.

43,800

2,387,538

 

25,431,618

TOTAL FINANCIALS

319,094,087

HEALTH CARE - 12.3%

Biotechnology - 0.9%

Amgen, Inc.

215,690

18,186,981

Health Care Equipment & Supplies - 0.4%

Baxter International, Inc.

134,100

8,080,866

Health Care Providers & Services - 3.2%

Aetna, Inc.

308,600

12,220,560

Cardinal Health, Inc.

46,600

1,816,002

McKesson Corp.

254,400

21,886,032

UnitedHealth Group, Inc.

124,800

6,915,168

WellPoint, Inc.

363,300

21,075,033

 

63,912,795

Life Sciences Tools & Services - 0.4%

Thermo Fisher Scientific, Inc.

124,900

7,347,867

Pharmaceuticals - 7.4%

Abbott Laboratories

290,200

19,896,112

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Eli Lilly & Co.

296,400

$ 14,052,324

GlaxoSmithKline PLC sponsored ADR

173,200

8,008,768

Johnson & Johnson

552,800

38,093,448

Merck & Co., Inc.

923,800

41,663,380

Pfizer, Inc.

1,000,600

24,864,910

 

146,578,942

TOTAL HEALTH CARE

244,107,451

INDUSTRIALS - 8.6%

Aerospace & Defense - 2.4%

Honeywell International, Inc.

162,400

9,703,400

Raytheon Co.

177,700

10,157,332

The Boeing Co.

179,000

12,461,980

United Technologies Corp.

205,400

16,080,766

 

48,403,478

Air Freight & Logistics - 1.0%

United Parcel Service, Inc. Class B

284,100

20,333,037

Electrical Equipment - 0.4%

Emerson Electric Co.

154,200

7,443,234

Industrial Conglomerates - 3.9%

Danaher Corp.

191,000

10,533,650

General Electric Co.

2,650,800

60,199,668

Tyco International Ltd.

124,100

6,981,866

 

77,715,184

Machinery - 0.6%

Cummins, Inc.

31,900

2,941,499

Illinois Tool Works, Inc.

140,900

8,379,323

 

11,320,822

Road & Rail - 0.3%

Union Pacific Corp.

41,200

4,890,440

TOTAL INDUSTRIALS

170,106,195

INFORMATION TECHNOLOGY - 21.4%

Communications Equipment - 2.4%

Cisco Systems, Inc.

1,493,100

28,503,279

QUALCOMM, Inc.

294,300

18,390,807

 

46,894,086

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Computers & Peripherals - 7.3%

Apple, Inc.

188,501

$ 125,779,179

EMC Corp. (a)

531,400

14,491,278

Hewlett-Packard Co.

314,800

5,370,488

 

145,640,945

Electronic Equipment & Components - 0.2%

Corning, Inc.

300,100

3,946,315

Internet Software & Services - 2.9%

Facebook, Inc. Class A

71,500

1,547,975

Google, Inc. Class A (a)

73,550

55,493,475

 

57,041,450

IT Services - 4.1%

Accenture PLC Class A

40,900

2,864,227

Cognizant Technology Solutions Corp. Class A (a)

219,700

15,361,424

IBM Corp.

87,100

18,068,895

MasterCard, Inc. Class A

58,700

26,501,876

Visa, Inc. Class A

138,700

18,624,636

 

81,421,058

Semiconductors & Semiconductor Equipment - 0.3%

Broadcom Corp. Class A

189,400

6,549,452

Software - 4.2%

Adobe Systems, Inc. (a)

30,300

983,538

Microsoft Corp.

1,724,300

51,349,654

Oracle Corp.

693,300

21,832,017

salesforce.com, Inc. (a)

32,200

4,916,618

VMware, Inc. Class A (a)

41,500

4,014,710

 

83,096,537

TOTAL INFORMATION TECHNOLOGY

424,589,843

MATERIALS - 1.3%

Chemicals - 1.3%

Air Products & Chemicals, Inc.

64,000

5,292,800

The Dow Chemical Co.

129,200

3,741,632

E.I. du Pont de Nemours & Co.

175,500

8,822,385

Syngenta AG (Switzerland)

24,700

9,239,835

 

27,096,652

Common Stocks - continued

Shares

Value

TELECOMMUNICATION SERVICES - 1.1%

Diversified Telecommunication Services - 0.4%

Verizon Communications, Inc.

175,600

$ 8,002,092

Wireless Telecommunication Services - 0.7%

Vodafone Group PLC sponsored ADR

520,000

14,817,400

TOTAL TELECOMMUNICATION SERVICES

22,819,492

UTILITIES - 1.1%

Electric Utilities - 0.9%

Duke Energy Corp.

45,499

2,948,335

FirstEnergy Corp.

246,400

10,866,240

NextEra Energy, Inc.

60,400

4,247,932

 

18,062,507

Multi-Utilities - 0.2%

PG&E Corp.

89,500

3,818,965

TOTAL UTILITIES

21,881,472

TOTAL COMMON STOCKS

(Cost $1,744,356,451)


1,946,804,977

Preferred Stocks - 0.7%

 

 

 

 

Convertible Preferred Stocks - 0.1%

INDUSTRIALS - 0.1%

Aerospace & Defense - 0.1%

United Technologies Corp. 7.50%

32,400

1,817,640

Nonconvertible Preferred Stocks - 0.6%

CONSUMER DISCRETIONARY - 0.6%

Automobiles - 0.6%

Volkswagen AG

63,400

11,564,974

TOTAL PREFERRED STOCKS

(Cost $12,211,191)


13,382,614

Money Market Funds - 1.3%

Shares

Value

Fidelity Cash Central Fund, 0.17% (b)
(Cost $26,691,188)

26,691,188

$ 26,691,188

TOTAL INVESTMENT PORTFOLIO - 100.1%

(Cost $1,783,258,830)

1,986,878,779

NET OTHER ASSETS (LIABILITIES) - (0.1)%

(2,642,441)

NET ASSETS - 100%

$ 1,984,236,338

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned

Fidelity Cash Central Fund

$ 12,313

Fidelity Securities Lending Cash Central Fund

6,089

Total

$ 18,402

Other Information

The following is a summary of the inputs used, as of September 30, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 249,271,467

$ 249,271,467

$ -

$ -

Consumer Staples

209,657,553

209,657,553

-

-

Energy

269,745,739

269,745,739

-

-

Financials

319,094,087

319,094,087

-

-

Health Care

244,107,451

244,107,451

-

-

Industrials

171,923,835

171,923,835

-

-

Information Technology

424,589,843

424,589,843

-

-

Materials

27,096,652

17,856,817

9,239,835

-

Telecommunication Services

22,819,492

22,819,492

-

-

Utilities

21,881,472

21,881,472

-

-

Money Market Funds

26,691,188

26,691,188

-

-

Total Investments in Securities:

$ 1,986,878,779

$ 1,977,638,944

$ 9,239,835

$ -

Income Tax Information

At September 30, 2012, the cost of investment securities for income tax purposes was $1,791,011,808. Net unrealized appreciation aggregated $195,866,971, of which $242,026,670 related to appreciated investment securities and $46,159,699 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Growth Discovery Fund

September 30, 2012 

1.808775.108

CII-QTLY-1112

Investments September 30, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 17.8%

Automobiles - 2.2%

Harley-Davidson, Inc.

434,561

$ 18,412

Tesla Motors, Inc. (a)(d)

133,392

3,906

 

22,318

Diversified Consumer Services - 0.9%

Anhanguera Educacional Participacoes SA

309,700

5,148

Kroton Educacional SA unit (a)

252,300

4,319

 

9,467

Hotels, Restaurants & Leisure - 3.9%

Arcos Dorados Holdings, Inc.

153,100

2,362

Chipotle Mexican Grill, Inc. (a)

10,913

3,465

Dunkin' Brands Group, Inc. (d)

132,569

3,870

McDonald's Corp.

97,070

8,906

Panera Bread Co. Class A (a)

21,504

3,675

Sonic Corp. (a)

121,800

1,251

Starbucks Corp.

225,126

11,425

Yum! Brands, Inc.

61,240

4,063

 

39,017

Household Durables - 0.3%

Mohawk Industries, Inc. (a)

37,086

2,968

Internet & Catalog Retail - 1.2%

Amazon.com, Inc. (a)

48,308

12,286

Media - 1.6%

Comcast Corp. Class A (special) (non-vtg.)

175,821

6,119

Discovery Communications, Inc. Class C (non-vtg.) (a)

112,550

6,307

Pandora Media, Inc. (a)

172,700

1,891

The Walt Disney Co.

31,556

1,650

 

15,967

Multiline Retail - 1.3%

Dollarama, Inc.

184,190

11,757

Dollarama, Inc. (e)

25,900

1,653

 

13,410

Specialty Retail - 5.7%

Bed Bath & Beyond, Inc. (a)

32,927

2,074

Dick's Sporting Goods, Inc.

21,300

1,104

GNC Holdings, Inc.

260,291

10,144

Home Depot, Inc.

269,150

16,249

PetSmart, Inc.

56,341

3,886

Ross Stores, Inc.

135,966

8,783

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

TJX Companies, Inc.

164,018

$ 7,346

Vitamin Shoppe, Inc. (a)

132,705

7,739

 

57,325

Textiles, Apparel & Luxury Goods - 0.7%

lululemon athletica, Inc. (a)

31,400

2,322

Michael Kors Holdings Ltd.

24,500

1,303

NIKE, Inc. Class B

40,263

3,821

 

7,446

TOTAL CONSUMER DISCRETIONARY

180,204

CONSUMER STAPLES - 11.6%

Beverages - 3.3%

Anheuser-Busch InBev SA NV ADR

59,411

5,104

Monster Beverage Corp. (a)

55,743

3,019

SABMiller PLC

128,500

5,644

The Coca-Cola Co.

529,960

20,101

 

33,868

Food & Staples Retailing - 1.7%

Costco Wholesale Corp.

31,900

3,194

Wal-Mart Stores, Inc.

101,800

7,513

Whole Foods Market, Inc.

65,965

6,425

 

17,132

Food Products - 1.7%

Green Mountain Coffee Roasters, Inc. (a)(d)

359,172

8,530

The Hershey Co.

110,477

7,832

Want Want China Holdings Ltd.

659,000

841

 

17,203

Household Products - 1.4%

Colgate-Palmolive Co.

133,003

14,261

Personal Products - 1.1%

Estee Lauder Companies, Inc. Class A

25,068

1,543

Herbalife Ltd.

207,929

9,856

 

11,399

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Tobacco - 2.4%

British American Tobacco PLC sponsored ADR

88,300

$ 9,063

Philip Morris International, Inc.

167,700

15,083

 

24,146

TOTAL CONSUMER STAPLES

118,009

ENERGY - 7.5%

Energy Equipment & Services - 3.5%

Cameron International Corp. (a)

121,300

6,801

Dresser-Rand Group, Inc. (a)

90,105

4,966

National Oilwell Varco, Inc.

159,700

12,794

Oceaneering International, Inc.

111,349

6,152

Poseidon Concepts Corp. (d)

349,300

5,191

 

35,904

Oil, Gas & Consumable Fuels - 4.0%

Atlas Pipeline Partners, LP

125,163

4,268

Concho Resources, Inc. (a)

61,421

5,820

Kosmos Energy Ltd. (a)

262,947

2,995

Markwest Energy Partners LP

44,560

2,425

Noble Energy, Inc.

25,300

2,346

Phillips 66

102,800

4,767

Pioneer Natural Resources Co.

40,100

4,186

Targa Resources Corp.

59,651

3,003

The Williams Companies, Inc.

171,600

6,001

Valero Energy Corp.

150,107

4,755

 

40,566

TOTAL ENERGY

76,470

FINANCIALS - 2.2%

Capital Markets - 0.4%

GP Investments Ltd. (depositary receipt) (a)

362,094

775

Invesco Ltd.

151,821

3,794

 

4,569

Commercial Banks - 0.2%

First Republic Bank

50,776

1,750

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Consumer Finance - 0.3%

Mahindra & Mahindra Financial Services Ltd. (a)

75,209

$ 1,276

Shriram Transport Finance Co. Ltd.

161,708

1,894

 

3,170

Real Estate Investment Trusts - 1.3%

American Tower Corp.

141,928

10,132

Public Storage

19,730

2,746

 

12,878

TOTAL FINANCIALS

22,367

HEALTH CARE - 9.8%

Biotechnology - 3.4%

Aegerion Pharmaceuticals, Inc. (a)

32,100

476

Amgen, Inc.

94,200

7,943

AVEO Pharmaceuticals, Inc. (a)(d)

217,061

2,260

Biogen Idec, Inc. (a)

78,279

11,682

Biovitrum AB (a)

460,826

2,582

Cytokinetics, Inc.

480,700

400

Cytokinetics, Inc. warrants 6/25/17 (a)

288,420

11

Gilead Sciences, Inc. (a)

117,384

7,786

Grifols SA ADR

48,249

1,102

 

34,242

Health Care Equipment & Supplies - 0.5%

Align Technology, Inc. (a)

29,809

1,102

Conceptus, Inc. (a)

38,000

772

Edwards Lifesciences Corp. (a)

6,200

666

The Cooper Companies, Inc.

27,757

2,622

 

5,162

Health Care Providers & Services - 3.4%

Apollo Hospitals Enterprise Ltd. (a)

66,024

912

Express Scripts Holding Co. (a)

507,433

31,801

Qualicorp SA (a)

160,700

1,570

 

34,283

Health Care Technology - 0.1%

Cerner Corp. (a)

14,500

1,122

Life Sciences Tools & Services - 0.1%

Illumina, Inc. (a)

22,700

1,094

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Pharmaceuticals - 2.3%

Novo Nordisk A/S Series B

47,877

$ 7,535

Valeant Pharmaceuticals International, Inc. (Canada) (a)(d)

279,225

15,411

 

22,946

TOTAL HEALTH CARE

98,849

INDUSTRIALS - 8.5%

Aerospace & Defense - 2.4%

Honeywell International, Inc.

70,544

4,215

Precision Castparts Corp.

45,443

7,423

Textron, Inc.

126,800

3,318

TransDigm Group, Inc. (a)

36,858

5,229

United Technologies Corp.

45,608

3,571

 

23,756

Building Products - 0.3%

USG Corp. (a)(d)

135,900

2,983

Commercial Services & Supplies - 0.2%

Aggreko PLC

39,212

1,465

Encore Capital Group, Inc. (a)

32,400

916

 

2,381

Electrical Equipment - 1.7%

Hubbell, Inc. Class B

49,049

3,960

Regal-Beloit Corp.

71,191

5,018

Roper Industries, Inc.

72,585

7,976

 

16,954

Industrial Conglomerates - 0.5%

Danaher Corp.

95,992

5,294

Machinery - 0.7%

Graco, Inc.

46,623

2,344

Ingersoll-Rand PLC

111,909

5,016

 

7,360

Professional Services - 2.2%

Corporate Executive Board Co.

129,478

6,944

Equifax, Inc.

215,903

10,057

IHS, Inc. Class A (a)

56,585

5,509

 

22,510

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Trading Companies & Distributors - 0.5%

W.W. Grainger, Inc.

23,361

$ 4,868

TOTAL INDUSTRIALS

86,106

INFORMATION TECHNOLOGY - 37.2%

Communications Equipment - 3.7%

QUALCOMM, Inc.

500,939

31,304

Riverbed Technology, Inc. (a)

264,738

6,160

 

37,464

Computers & Peripherals - 14.0%

Apple, Inc.

196,302

130,981

SanDisk Corp. (a)

270,678

11,756

 

142,737

Electronic Equipment & Components - 0.4%

InvenSense, Inc. (d)

345,727

4,131

Internet Software & Services - 7.4%

Baidu.com, Inc. sponsored ADR (a)

43,860

5,124

Bankrate, Inc. (a)

204,285

3,183

Blucora, Inc. (a)

172,485

3,072

CoStar Group, Inc. (a)

29,550

2,410

eBay, Inc. (a)

154,522

7,480

Google, Inc. Class A (a)

25,123

18,955

Liquidity Services, Inc. (a)

156,367

7,851

MercadoLibre, Inc. (d)

66,958

5,527

Rackspace Hosting, Inc. (a)

35,900

2,373

SPS Commerce, Inc. (a)

81,291

3,127

VeriSign, Inc. (a)

324,124

15,782

 

74,884

IT Services - 2.4%

Cardtronics, Inc. (a)

75,388

2,245

ExlService Holdings, Inc. (a)

39,323

1,160

Gartner, Inc. Class A (a)

21,900

1,009

Heartland Payment Systems, Inc.

149,504

4,736

Visa, Inc. Class A

110,782

14,876

 

24,026

Semiconductors & Semiconductor Equipment - 3.7%

Altera Corp.

70,618

2,400

ASML Holding NV

271,534

14,576

Avago Technologies Ltd.

194,509

6,782

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Broadcom Corp. Class A

259,148

$ 8,961

Ezchip Semiconductor Ltd. (a)

83,166

2,544

MagnaChip Semiconductor Corp. (a)

189,252

2,233

 

37,496

Software - 5.6%

ANSYS, Inc. (a)

62,112

4,559

BroadSoft, Inc. (a)

27,377

1,123

Citrix Systems, Inc. (a)

159,059

12,179

Computer Modelling Group Ltd.

130,500

2,563

Intuit, Inc.

71,493

4,210

Red Hat, Inc. (a)

68,000

3,872

salesforce.com, Inc. (a)

91,566

13,981

SolarWinds, Inc. (a)

143,527

8,000

VMware, Inc. Class A (a)

67,375

6,518

 

57,005

TOTAL INFORMATION TECHNOLOGY

377,743

MATERIALS - 2.5%

Chemicals - 2.3%

Albemarle Corp.

17,200

906

FMC Corp.

133,146

7,374

Monsanto Co.

122,353

11,137

Sherwin-Williams Co.

28,300

4,214

 

23,631

Construction Materials - 0.1%

James Hardie Industries NV sponsored ADR

22,300

1,009

Metals & Mining - 0.1%

Kenmare Resources PLC (a)

1,214,702

771

TOTAL MATERIALS

25,411

TELECOMMUNICATION SERVICES - 0.8%

Wireless Telecommunication Services - 0.8%

SBA Communications Corp. Class A (a)

123,912

7,794

Common Stocks - continued

Shares

Value (000s)

UTILITIES - 0.2%

Electric Utilities - 0.2%

ITC Holdings Corp.

28,331

$ 2,141

TOTAL COMMON STOCKS

(Cost $788,012)


995,094

Money Market Funds - 4.6%

 

 

 

 

Fidelity Cash Central Fund, 0.17% (b)

13,595,482

13,595

Fidelity Securities Lending Cash Central Fund, 0.17% (b)(c)

33,730,975

33,731

TOTAL MONEY MARKET FUNDS

(Cost $47,326)


47,326

TOTAL INVESTMENT PORTFOLIO - 102.7%

(Cost $835,338)

1,042,420

NET OTHER ASSETS (LIABILITIES) - (2.7)%

(27,730)

NET ASSETS - 100%

$ 1,014,690

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,653,000 or 0.2% of net assets.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 14

Fidelity Securities Lending Cash Central Fund

352

Total

$ 366

Other Information

The following is a summary of the inputs used, as of September 30, 2012, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 180,204

$ 180,204

$ -

$ -

Consumer Staples

118,009

118,009

-

-

Energy

76,470

76,470

-

-

Financials

22,367

22,367

-

-

Health Care

98,849

91,303

7,546

-

Industrials

86,106

86,106

-

-

Information Technology

377,743

377,743

-

-

Materials

25,411

25,411

-

-

Telecommunication Services

7,794

7,794

-

-

Utilities

2,141

2,141

-

-

Money Market Funds

47,326

47,326

-

-

Total Investments in Securities:

$ 1,042,420

$ 1,034,874

$ 7,546

$ -

Income Tax Information

At September 30, 2012, the cost of investment securities for income tax purposes was $838,212,000. Net unrealized appreciation aggregated $204,208,000, of which $225,945,000 related to appreciated investment securities and $21,737,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or rates are not readily available or reliable, securities will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by security type and may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Hastings Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Hastings Street Trust

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 2012

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 2012

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 29, 2012

EX-99.CERT 2 ex99.htm

Exhibit EX-99.CERT

I, Kenneth B. Robins, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Hastings Street Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 29, 2012

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Christine Reynolds, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Hastings Street Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 29, 2012

/s/Christine Reynolds

Christine Reynolds

Chief Financial Officer