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)

Eric D. Roiter, 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, 2007

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Fifty®

September 30, 2007

1.808769.103

FIF-QTLY-1107

Investments September 30, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.9%
	Shares		Value
CONSUMER DISCRETIONARY - 22.1%
Auto Components - 1.2%
WABCO Holdings, Inc.	439,200		$ 20,532,600
Automobiles - 1.6%
Renault SA	188,103		27,258,028
Diversified Consumer Services - 4.4%
DeVry, Inc.	833,855		30,860,974
Weight Watchers International, Inc.	773,606		44,528,761
			75,389,735
Household Durables - 5.4%
Harman International Industries, Inc.	1,063,241		91,991,611
Media - 9.5%
The Walt Disney Co.	2,200,700		75,682,073
Time Warner, Inc.	4,698,400		86,262,624
			161,944,697
TOTAL CONSUMER DISCRETIONARY			377,116,671
CONSUMER STAPLES - 3.0%
Beverages - 3.0%
Molson Coors Brewing Co. Class B	514,300		51,260,281
ENERGY - 1.0%
Energy Equipment & Services - 0.0%
Diamond Offshore Drilling, Inc.	900		101,961
Oil, Gas & Consumable Fuels - 1.0%
EOG Resources, Inc.	230,400		16,664,832
TOTAL ENERGY			16,766,793
FINANCIALS - 4.1%
Capital Markets - 2.0%
EFG International	707,260		33,292,830
Goldman Sachs Group, Inc.	700		151,718
			33,444,548
Diversified Financial Services - 0.8%
Apollo Global Management LLC (e)	532,100		13,302,500
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - 1.3%
Indiabulls Real Estate Ltd. (a)	1,312,396		$ 22,670,764
The St. Joe Co.	2,600		87,386
			22,758,150
TOTAL FINANCIALS			69,505,198
HEALTH CARE - 1.6%
Biotechnology - 0.0%
Cepheid, Inc. (a)	7,900		180,120
Health Care Equipment & Supplies - 0.0%
C.R. Bard, Inc.	1,800		158,742
Health Care Technology - 1.6%
Health Corp. (a)(d)	1,980,191		28,059,306
TOTAL HEALTH CARE			28,398,168
INDUSTRIALS - 20.2%
Airlines - 1.4%
Delta Air Lines, Inc. (a)	1,286,117		23,085,800
Commercial Services & Supplies - 0.9%
Waste Management, Inc.	429,400		16,205,556
Electrical Equipment - 11.6%
ABB Ltd. sponsored ADR	1,593,100		41,787,013
Alstom SA	348,100		70,770,408
Nexans SA	200,900		33,045,860
Prysmian SpA	1,864,423		53,120,171
			198,723,452
Machinery - 2.9%
Flowserve Corp.	521,800		39,750,724
Sulzer AG (Reg.)	6,592		9,456,376
			49,207,100
Marine - 0.0%
Diana Shipping, Inc.	7,300		208,050
Road & Rail - 3.4%
CSX Corp.	189,200		8,084,516
Hertz Global Holdings, Inc.	2,169,000		49,279,680
			57,364,196
TOTAL INDUSTRIALS			344,794,154
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - 28.7%
Communications Equipment - 9.2%
Cisco Systems, Inc. (a)	1,480,500		$ 49,019,355
Juniper Networks, Inc. (a)	977,455		35,784,628
Opnext, Inc.	1,568,365		18,193,034
Powerwave Technologies, Inc. (a)(d)	2,722,800		16,772,448
Research In Motion Ltd. (a)	375,100		36,966,107
			156,735,572
Computers & Peripherals - 3.9%
Network Appliance, Inc. (a)	307,200		8,266,752
SanDisk Corp. (a)	764,725		42,136,348
Sun Microsystems, Inc. (a)	2,810,840		15,768,812
			66,171,912
Electronic Equipment & Instruments - 3.8%
Agilent Technologies, Inc. (a)	1,777,800		65,565,264
IT Services - 1.5%
Fiserv, Inc. (a)	172,600		8,778,436
The Western Union Co.	842,600		17,669,322
			26,447,758
Software - 10.3%
Electronic Arts, Inc. (a)	1,194,952		66,905,362
NAVTEQ Corp. (a)	1,400,790		109,219,596
			176,124,958
TOTAL INFORMATION TECHNOLOGY			491,045,464
MATERIALS - 2.1%
Construction Materials - 1.1%
Texas Industries, Inc. (d)	225,600		17,709,600
Metals & Mining - 1.0%
ArcelorMittal SA (NY Shares) Class A	225,600		17,678,016
TOTAL MATERIALS			35,387,616
TELECOMMUNICATION SERVICES - 13.1%
Diversified Telecommunication Services - 10.2%
AT&T, Inc.	2,978,134		126,004,851
Global Crossing Ltd. (a)	1,510,000		31,830,800
Level 3 Communications, Inc. (a)(d)	3,530,300		16,415,895
			174,251,546
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Wireless Telecommunication Services - 2.9%
American Tower Corp. Class A (a)	1,162,000		$ 50,593,480
TOTAL TELECOMMUNICATION SERVICES			224,845,026
TOTAL COMMON STOCKS (Cost $1,428,040,816)		1,639,119,371
Money Market Funds - 4.5%

Fidelity Cash Central Fund, 5.12% (b)	53,235,506		53,235,506
Fidelity Securities Lending Cash Central Fund, 5.17% (b)(c)	22,937,250		22,937,250
TOTAL MONEY MARKET FUNDS (Cost $76,172,756)		76,172,756
TOTAL INVESTMENT PORTFOLIO - 100.4% (Cost $1,504,213,572)			1,715,292,127
NET OTHER ASSETS - (0.4)%			(6,382,592)
NET ASSETS - 100%		$ 1,708,909,535

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.

(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 $13,302,500 or 0.8% 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
Fidelity Cash Central Fund	$ 284,656
Fidelity Securities Lending Cash Central Fund	13,198
Total	$ 297,854

Income Tax Information

At September 30, 2007, the aggregate cost of investment securities for income tax purposes was $1,511,865,817. Net unrealized appreciation aggregated $203,426,310, of which $258,887,389 related to appreciated investment securities and $55,461,079 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. 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 an independent pricing service on the primary market or exchange on which they are traded. 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. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. The frequency of when fair value pricing is used is unpredictable. The value of securities used under fair value pricing may differ from published prices for the same securities.

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 ® Fund

September 30, 2007

1.808776.103

FID-QTLY-1107

Investments September 30, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.2%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 6.6%
Automobiles - 0.3%
General Motors Corp. (d)	705,800		$ 25,903
Hotels, Restaurants & Leisure - 1.9%
McDonald's Corp.	1,548,400		84,341
Starwood Hotels & Resorts Worldwide, Inc.	443,000		26,912
Vail Resorts, Inc. (a)	500,300		31,164
			142,417
Media - 2.8%
Liberty Global, Inc. Class A (a)	575,000		23,587
McGraw-Hill Companies, Inc.	1,988,400		101,229
Regal Entertainment Group Class A (d)	1,354,628		29,734
Time Warner, Inc.	3,064,400		56,262
			210,812
Multiline Retail - 0.5%
Macy's, Inc.	723,400		23,380
Sears Holdings Corp. (a)	128,800		16,383
			39,763
Specialty Retail - 1.1%
AutoZone, Inc. (a)(d)	212,700		24,703
PETsMART, Inc.	1,093,451		34,881
Staples, Inc.	1,321,650		28,402
			87,986
TOTAL CONSUMER DISCRETIONARY			506,881
CONSUMER STAPLES - 7.5%
Beverages - 1.2%
PepsiCo, Inc.	1,203,090		88,138
Food & Staples Retailing - 0.3%
Rite Aid Corp. (a)(d)	5,569,100		25,729
Food Products - 2.8%
Bunge Ltd.	745,400		80,093
Kellogg Co.	380,600		21,314
Lindt & Spruengli AG (participation certificate) (d)	12,834		44,638
Nestle SA (Reg.)	142,841		63,936
Tyson Foods, Inc. Class A	139,900		2,497
			212,478
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Household Products - 1.8%
Colgate-Palmolive Co.	428,100		$ 30,532
Procter & Gamble Co.	1,498,744		105,422
			135,954
Tobacco - 1.4%
Altria Group, Inc.	1,552,000		107,911
TOTAL CONSUMER STAPLES			570,210
ENERGY - 11.3%
Energy Equipment & Services - 2.6%
Schlumberger Ltd. (NY Shares)	1,545,900		162,320
Transocean, Inc. (a)	291,500		32,954
			195,274
Oil, Gas & Consumable Fuels - 8.7%
Canadian Natural Resources Ltd.	272,200		20,681
Chesapeake Energy Corp.	1,137,800		40,119
Denbury Resources, Inc. (a)	170,300		7,611
Devon Energy Corp.	169,800		14,127
Energy Transfer Partners Mlp	121,500		5,935
EOG Resources, Inc.	481,100		34,798
Exxon Mobil Corp.	1,755,400		162,480
Marathon Oil Corp.	1,634,100		93,176
Occidental Petroleum Corp.	1,125,400		72,116
Peabody Energy Corp.	434,800		20,814
Ultra Petroleum Corp. (a)	541,079		33,569
Valero Energy Corp.	1,998,900		134,286
Williams Companies, Inc.	823,700		28,055
			667,767
TOTAL ENERGY			863,041
FINANCIALS - 17.9%
Capital Markets - 4.9%
Bank New York Mellon Corp.	789,100		34,831
Goldman Sachs Group, Inc.	393,500		85,287
Julius Baer Holding AG (Bearer)	661,199		49,442
Lazard Ltd. Class A	580,300		24,605
Merrill Lynch & Co., Inc.	198,800		14,170
Morgan Stanley	472,600		29,774
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Capital Markets - continued
State Street Corp.	1,371,000		$ 93,447
T. Rowe Price Group, Inc.	719,400		40,063
			371,619
Commercial Banks - 1.3%
First Community Bancorp, California	67,300		3,682
PNC Financial Services Group, Inc.	263,700		17,958
Wells Fargo & Co.	2,243,100		79,899
			101,539
Consumer Finance - 1.5%
American Express Co.	1,912,892		113,568
Diversified Financial Services - 3.2%
Bank of America Corp.	2,391,565		120,224
Citigroup, Inc.	1,631,600		76,147
Deutsche Boerse AG	372,700		50,755
			247,126
Insurance - 4.6%
AFLAC, Inc.	445,400		25,406
American International Group, Inc.	1,303,700		88,195
Berkshire Hathaway, Inc. Class A (a)	301		35,672
Hartford Financial Services Group, Inc.	592,500		54,836
MetLife, Inc.	627,600		43,763
Principal Financial Group, Inc.	515,900		32,548
Prudential Financial, Inc.	330,200		32,221
Willis Group Holdings Ltd.	850,400		34,815
			347,456
Real Estate Management & Development - 1.4%
Mitsubishi Estate Co. Ltd.	1,718,000		48,956
Mitsui Fudosan Co. Ltd.	2,195,000		60,593
			109,549
Thrifts & Mortgage Finance - 1.0%
Fannie Mae	1,211,500		73,671
TOTAL FINANCIALS			1,364,528
HEALTH CARE - 11.5%
Biotechnology - 2.1%
Celgene Corp. (a)	603,400		43,028
Cephalon, Inc. (a)	232,700		17,001
CSL Ltd.	616,700		58,744
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Biotechnology - continued
Gilead Sciences, Inc. (a)	919,000		$ 37,560
PDL BioPharma, Inc. (a)	296,600		6,410
			162,743
Health Care Equipment & Supplies - 3.8%
Becton, Dickinson & Co.	1,795,900		147,354
C.R. Bard, Inc.	1,300,800		114,718
Sonova Holding AG	245,849		24,666
			286,738
Health Care Providers & Services - 0.4%
Medco Health Solutions, Inc. (a)	320,000		28,925
Health Care Technology - 0.2%
Cerner Corp. (a)	268,000		16,029
Pharmaceuticals - 5.0%
Allergan, Inc.	574,300		37,025
Elan Corp. PLC sponsored ADR (a)	1,954,296		41,118
Merck & Co., Inc.	1,706,300		88,199
Roche Holding AG (participation certificate)	614,985		111,066
Schering-Plough Corp.	1,069,700		33,835
Wyeth	1,619,140		72,133
			383,376
TOTAL HEALTH CARE			877,811
INDUSTRIALS - 12.4%
Aerospace & Defense - 6.6%
General Dynamics Corp.	884,800		74,739
Goodrich Corp.	489,600		33,405
Hexcel Corp. (a)(d)	1,161,300		26,373
Honeywell International, Inc.	2,369,600		140,920
Lockheed Martin Corp.	917,430		99,532
Raytheon Co.	412,300		26,313
Rockwell Collins, Inc.	107,400		7,844
Rolls-Royce Group PLC (a)	2,004,821		21,435
The Boeing Co.	710,300		74,574
			505,135
Air Freight & Logistics - 0.4%
Panalpina Welttransport Holding AG	186,110		31,014
Airlines - 0.3%
Delta Air Lines, Inc. (a)	1,238,700		22,235
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Commercial Services & Supplies - 0.7%
Stericycle, Inc. (a)	461,400		$ 26,374
The Brink's Co.	406,600		22,721
			49,095
Construction & Engineering - 0.8%
Fluor Corp.	292,300		42,085
Quanta Services, Inc. (a)	677,100		17,909
			59,994
Electrical Equipment - 1.7%
ABB Ltd. (Reg.)	2,615,453		68,883
Alstom SA	204,300		41,535
Suntech Power Holdings Co. Ltd. sponsored ADR (a)(d)	538,400		21,482
			131,900
Industrial Conglomerates - 1.6%
General Electric Co.	2,429,326		100,574
Siemens AG sponsored ADR	170,200		23,360
			123,934
Machinery - 0.3%
Sulzer AG (Reg.)	14,241		20,429
TOTAL INDUSTRIALS			943,736
INFORMATION TECHNOLOGY - 18.3%
Communications Equipment - 2.9%
Cisco Systems, Inc. (a)	5,180,276		171,519
Harris Corp.	633,900		36,633
Research In Motion Ltd. (a)	83,000		8,180
			216,332
Computers & Peripherals - 4.1%
Apple, Inc. (a)	816,900		125,427
Hewlett-Packard Co.	1,701,500		84,718
NCR Corp. (a)	1,289,821		64,233
SanDisk Corp. (a)	355,600		19,594
Sun Microsystems, Inc. (a)	3,797,100		21,302
			315,274
Electronic Equipment & Instruments - 1.2%
Amphenol Corp. Class A	2,309,800		91,838
Internet Software & Services - 3.1%
Google, Inc. Class A (sub. vtg.) (a)	414,285		235,011
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
IT Services - 0.2%
Cognizant Technology Solutions Corp. Class A (a)	165,400		$ 13,194
Semiconductors & Semiconductor Equipment - 3.6%
Advanced Micro Devices, Inc. (a)	2,442,400		32,240
Applied Materials, Inc.	2,086,400		43,188
Broadcom Corp. Class A (a)	1,407,621		51,294
Fairchild Semiconductor International, Inc. (a)	661,800		12,362
Infineon Technologies AG sponsored ADR (a)	2,849,100		48,948
Intel Corp.	2,068,000		53,478
Nec Electronics Corp. (a)	624,300		17,932
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	1,720,759		17,414
			276,856
Software - 3.2%
Nintendo Co. Ltd.	387,700		201,139
VMware, Inc. Class A	494,800		42,058
			243,197
TOTAL INFORMATION TECHNOLOGY			1,391,702
MATERIALS - 6.4%
Chemicals - 5.7%
Agrium, Inc.	747,700		40,734
Ecolab, Inc.	1,062,900		50,169
Monsanto Co.	3,116,854		267,238
Praxair, Inc.	878,222		73,560
			431,701
Metals & Mining - 0.7%
ArcelorMittal SA (NY Shares) Class A	303,100		23,751
Barrick Gold Corp.	494,500		19,865
Newcrest Mining Ltd.	523,657		13,017
			56,633
TOTAL MATERIALS			488,334
TELECOMMUNICATION SERVICES - 4.2%
Diversified Telecommunication Services - 4.2%
AT&T, Inc.	3,126,495		132,282
Verizon Communications, Inc.	4,215,500		186,662
			318,944
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - 3.1%
Electric Utilities - 1.6%
E.ON AG	254,467		$ 46,850
Entergy Corp.	328,900		35,617
PPL Corp.	412,700		19,108
Reliant Energy, Inc. (a)	757,800		19,400
			120,975
Independent Power Producers & Energy Traders - 1.5%
AES Corp. (a)	372,900		7,473
Constellation Energy Group, Inc.	406,000		34,831
Dynegy, Inc. Class A (a)	3,835,000		35,435
NRG Energy, Inc. (a)	839,000		35,481
			113,220
TOTAL UTILITIES			234,195
TOTAL COMMON STOCKS (Cost $5,786,032)		7,559,382
Nonconvertible Preferred Stocks - 0.3%

CONSUMER DISCRETIONARY - 0.3%
Automobiles - 0.3%
Porsche AG	10,501		22,308
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $19,429)		22,308
Money Market Funds - 1.4%

Fidelity Cash Central Fund, 5.12% (b)	44,937,248		44,937
Fidelity Securities Lending Cash Central Fund, 5.17% (b)(c)	67,361,425		67,361
TOTAL MONEY MARKET FUNDS (Cost $112,298)		112,298
TOTAL INVESTMENT PORTFOLIO - 100.9% (Cost $5,917,759)			7,693,988
NET OTHER ASSETS - (0.9)%			(72,383)
NET ASSETS - 100%		$ 7,621,605

Legend

(a) Non-income producing

(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 (Amounts in thousands)
Fidelity Cash Central Fund	$ 651
Fidelity Securities Lending Cash Central Fund	54
Total	$ 705

Income Tax Information

At September 30, 2007, the aggregate cost of investment securities for income tax purposes was $5,923,538,000. Net unrealized appreciation aggregated $1,770,450,000, of which $1,858,762,000 related to appreciated investment securities and $88,312,000 related to depreciated investment securities.

Investment Valuation

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Growth Discovery Fund

(formerly Fidelity Discovery Fund)

September 30, 2007

1.808775.103

CII-QTLY-1107

Investments September 30, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.0%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 3.1%
Distributors - 0.1%
Li & Fung Ltd.	300,000		$ 1,274
Hotels, Restaurants & Leisure - 1.5%
BJ's Restaurants, Inc. (a)	169,700		3,572
McDonald's Corp.	161,500		8,797
Starbucks Corp. (a)	151,400		3,967
			16,336
Household Durables - 1.3%
Tele Atlas NV (a)	24,100		701
TomTom Group BV (a)(d)	182,100		14,155
			14,856
Leisure Equipment & Products - 0.1%
Nikon Corp.	43,000		1,469
Media - 0.1%
National CineMedia, Inc.	51,100		1,145
Specialty Retail - 0.0%
PETsMART, Inc.	200		6
TOTAL CONSUMER DISCRETIONARY			35,086
CONSUMER STAPLES - 5.5%
Beverages - 0.5%
PepsiCo, Inc.	71,900		5,267
Food & Staples Retailing - 1.2%
CVS Caremark Corp.	184,400		7,308
Walgreen Co.	122,600		5,792
			13,100
Food Products - 0.9%
Nestle SA sponsored ADR	96,000		10,742
Household Products - 2.9%
Colgate-Palmolive Co.	67,400		4,807
Procter & Gamble Co.	397,400		27,953
			32,760
TOTAL CONSUMER STAPLES			61,869
ENERGY - 10.0%
Energy Equipment & Services - 4.4%
Cameron International Corp. (a)	28,800		2,658
FMC Technologies, Inc. (a)	47,600		2,745
Common Stocks - continued
	Shares		Value (000s)
ENERGY - continued
Energy Equipment & Services - continued
National Oilwell Varco, Inc. (a)	37,300		$ 5,390
Schlumberger Ltd. (NY Shares)	369,400		38,787
			49,580
Oil, Gas & Consumable Fuels - 5.6%
Canadian Natural Resources Ltd.	82,200		6,245
Chesapeake Energy Corp.	159,500		5,624
Copano Energy LLC	15,800		580
Denbury Resources, Inc. (a)	75,000		3,352
EnCana Corp.	28,600		1,769
Enterprise Products Partners LP	49,500		1,497
EOG Resources, Inc.	112,900		8,166
Gazprom OAO sponsored ADR	129,100		5,680
Petroplus Holdings AG	17,584		1,551
Ultra Petroleum Corp. (a)	73,600		4,566
Valero Energy Corp.	163,900		11,011
Williams Companies, Inc.	337,700		11,502
Williams Partners LP	14,300		591
			62,134
TOTAL ENERGY			111,714
FINANCIALS - 7.1%
Capital Markets - 3.6%
Charles Schwab Corp.	670,900		14,491
Goldman Sachs Group, Inc.	53,100		11,509
Janus Capital Group, Inc.	143,100		4,047
Northern Trust Corp.	54,800		3,632
T. Rowe Price Group, Inc.	121,300		6,755
			40,434
Commercial Banks - 1.7%
Commerce Bancorp, Inc.	461,334		17,891
East West Bancorp, Inc.	30,200		1,086
			18,977
Diversified Financial Services - 0.2%
CME Group, Inc.	3,800		2,232
Insurance - 1.6%
AFLAC, Inc.	77,780		4,437
AMBAC Financial Group, Inc.	69,800		4,391
American International Group, Inc.	61,419		4,155
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Insurance - continued
MBIA, Inc.	63,600		$ 3,883
Willis Group Holdings Ltd.	30,800		1,261
			18,127
TOTAL FINANCIALS			79,770
HEALTH CARE - 9.9%
Biotechnology - 3.4%
Acorda Therapeutics, Inc. (a)	124,300		2,281
Altus Pharmaceuticals, Inc. (a)	108,900		1,142
Biogen Idec, Inc. (a)	252,300		16,735
CSL Ltd.	73,933		7,043
Genentech, Inc. (a)	45,100		3,519
Gilead Sciences, Inc. (a)	173,498		7,091
			37,811
Health Care Equipment & Supplies - 2.5%
Alcon, Inc.	32,900		4,735
ArthroCare Corp. (a)	43,412		2,426
Becton, Dickinson & Co.	81,800		6,712
C.R. Bard, Inc.	56,577		4,990
Cochlear Ltd.	34,676		2,400
DENTSPLY International, Inc.	90,900		3,785
Inverness Medical Innovations, Inc. (a)	13,600		752
Sirona Dental Systems, Inc. (a)	53,402		1,905
			27,705
Health Care Providers & Services - 1.1%
Brookdale Senior Living, Inc.	26,600		1,059
Henry Schein, Inc. (a)	112,700		6,857
Medco Health Solutions, Inc. (a)	42,800		3,869
VCA Antech, Inc. (a)	13,300		555
			12,340
Life Sciences Tools & Services - 0.8%
Covance, Inc. (a)(d)	106,500		8,296
Waters Corp. (a)	8,700		582
			8,878
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Pharmaceuticals - 2.1%
Allergan, Inc.	102,200		$ 6,589
Merck & Co., Inc.	326,000		16,851
			23,440
TOTAL HEALTH CARE			110,174
INDUSTRIALS - 12.5%
Air Freight & Logistics - 0.0%
C.H. Robinson Worldwide, Inc.	10,100		548
Airlines - 0.1%
Ryanair Holdings PLC sponsored ADR (a)	20,700		859
Commercial Services & Supplies - 0.1%
Equifax, Inc.	22,800		869
Construction & Engineering - 3.4%
Fluor Corp.	73,800		10,626
Foster Wheeler Ltd. (a)	40,600		5,330
Jacobs Engineering Group, Inc. (a)	75,694		5,721
KBR, Inc.	142,700		5,532
Shaw Group, Inc. (a)	187,500		10,894
			38,103
Electrical Equipment - 5.8%
ABB Ltd. sponsored ADR	1,501,700		39,390
Alstom SA	30,200		6,140
Gamesa Corporacion Tecnologica, SA	13,300		543
GrafTech International Ltd. (a)	151,400		2,701
Q-Cells AG (a)	85,600		8,752
Vestas Wind Systems AS (a)	91,400		7,221
			64,747
Industrial Conglomerates - 2.6%
McDermott International, Inc. (a)	532,600		28,803
Machinery - 0.5%
Eaton Corp.	5,600		555
Harsco Corp.	11,700		693
IDEX Corp.	7,650		278
Sulzer AG (Reg.)	3,065		4,397
			5,923
TOTAL INDUSTRIALS			139,852
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - 41.5%
Communications Equipment - 11.8%
Cisco Systems, Inc. (a)	1,219,700		$ 40,384
Corning, Inc.	729,700		17,987
Harris Corp.	73,900		4,271
Nice Systems Ltd. sponsored ADR (a)	134,400		4,817
Nokia Corp. sponsored ADR	713,900		27,078
Polycom, Inc. (a)	118,800		3,191
Research In Motion Ltd. (a)	345,700		34,069
			131,797
Computers & Peripherals - 7.0%
Dell, Inc. (a)	453,300		12,511
Diebold, Inc.	58,200		2,643
EMC Corp. (a)	3,025,100		62,924
			78,078
Electronic Equipment & Instruments - 0.1%
Amphenol Corp. Class A	37,900		1,507
Itron, Inc. (a)	3,400		316
			1,823
Internet Software & Services - 5.7%
Akamai Technologies, Inc. (a)	117,800		3,384
eBay, Inc. (a)	168,802		6,587
Google, Inc. Class A (sub. vtg.) (a)	78,258		44,393
Omniture, Inc. (a)	44,900		1,361
VeriSign, Inc. (a)	239,300		8,074
			63,799
IT Services - 4.4%
Cognizant Technology Solutions Corp. Class A (a)	117,900		9,405
ExlService Holdings, Inc.	60,511		1,286
Infosys Technologies Ltd.	155,146		7,404
Infosys Technologies Ltd. sponsored ADR	62,700		3,034
Mastercard, Inc. Class A	38,300		5,667
Paychex, Inc. (d)	28,600		1,173
The Western Union Co.	1,001,300		20,997
			48,966
Semiconductors & Semiconductor Equipment - 6.4%
Applied Materials, Inc.	1,227,000		25,399
Broadcom Corp. Class A (a)	1,005,500		36,640
MediaTek, Inc.	204,000		3,676
Microchip Technology, Inc.	163,500		5,938
			71,653
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - 6.1%
Activision, Inc. (a)	506,500		$ 10,935
Cadence Design Systems, Inc. (a)	97,000		2,152
Electronic Arts, Inc. (a)	85,173		4,769
Nintendo Co. Ltd.	63,400		32,892
Red Hat, Inc. (a)	200,100		3,976
Salesforce.com, Inc. (a)	23,000		1,180
THQ, Inc. (a)	206,108		5,149
Ubisoft Entertainment SA (a)	112,459		7,682
			68,735
TOTAL INFORMATION TECHNOLOGY			464,851
MATERIALS - 2.1%
Chemicals - 1.5%
Monsanto Co.	156,900		13,453
The Mosaic Co. (a)	22,400		1,199
Zoltek Companies, Inc. (a)(d)	57,000		2,487
			17,139
Metals & Mining - 0.6%
ArcelorMittal SA (NY Shares) Class A	79,200		6,206
TOTAL MATERIALS			23,345
TELECOMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.3%
AT&T, Inc.	74,220		3,140
Wireless Telecommunication Services - 0.4%
America Movil SAB de CV Series L sponsored ADR	79,800		5,107
TOTAL TELECOMMUNICATION SERVICES			8,247
UTILITIES - 0.6%
Independent Power Producers & Energy Traders - 0.6%
Dynegy, Inc. Class A (a)	689,100		6,367
TOTAL COMMON STOCKS (Cost $912,855)		1,041,275
Money Market Funds - 5.2%
	Shares		Value (000s)
Fidelity Cash Central Fund, 5.12% (b)	53,538,028		$ 53,538
Fidelity Securities Lending Cash Central Fund, 5.17% (b)(c)	4,510,250		4,510
TOTAL MONEY MARKET FUNDS (Cost $58,048)		58,048
TOTAL INVESTMENT PORTFOLIO - 98.2% (Cost $970,903)			1,099,323
NET OTHER ASSETS - 1.8%			19,874
NET ASSETS - 100%		$ 1,119,197

Legend

(a) Non-income producing

(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	$ 512
Fidelity Securities Lending Cash Central Fund	26
Total	$ 538

Income Tax Information

At September 30, 2007, the aggregate cost of investment securities for income tax purposes was $972,082,000. Net unrealized appreciation aggregated $127,241,000, of which $136,458,000 related to appreciated investment securities and $9,217,000 related to depreciated investment securities.

Investment Valuation

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Growth & Income II
Portfolio

September 30, 2007

1.808770.103

GII-QTLY-1107

Investments September 30, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.1%
	Shares		Value
CONSUMER DISCRETIONARY - 6.3%
Automobiles - 0.4%
General Motors Corp. (d)	25,200		$ 924,840
Hotels, Restaurants & Leisure - 0.5%
Jamba, Inc. (a)(d)	55,100		387,353
Starbucks Corp. (a)	24,950		653,690
			1,041,043
Household Durables - 0.9%
D.R. Horton, Inc.	29,400		376,614
Koninklijke Philips Electronics NV (NY Shares)	7,700		346,038
Toll Brothers, Inc. (a)	30,500		609,695
Whirlpool Corp.	6,900		614,790
			1,947,137
Media - 1.3%
E.W. Scripps Co. Class A	7,000		294,000
News Corp. Class B	56,900		1,330,891
Time Warner, Inc.	65,200		1,197,072
			2,821,963
Multiline Retail - 1.7%
JCPenney Co., Inc.	10,100		640,037
Nordstrom, Inc. (d)	10,300		482,967
Sears Holdings Corp. (a)(d)	5,300		674,160
Target Corp.	32,700		2,078,739
			3,875,903
Specialty Retail - 1.5%
Best Buy Co., Inc.	9,200		423,384
Lowe's Companies, Inc.	44,400		1,244,088
PETsMART, Inc.	14,878		474,608
Staples, Inc.	25,443		546,770
Tiffany & Co., Inc.	12,400		649,140
			3,337,990
TOTAL CONSUMER DISCRETIONARY			13,948,876
CONSUMER STAPLES - 6.4%
Beverages - 0.6%
Molson Coors Brewing Co. Class B	7,200		717,624
PepsiCo, Inc.	8,900		652,014
			1,369,638
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food & Staples Retailing - 0.9%
CVS Caremark Corp.	38,600		$ 1,529,718
Wal-Mart Stores, Inc.	11,584		505,642
			2,035,360
Food Products - 1.3%
Kraft Foods, Inc. Class A	28,700		990,437
Nestle SA sponsored ADR	16,500		1,846,350
			2,836,787
Household Products - 2.6%
Colgate-Palmolive Co.	13,300		948,556
Procter & Gamble Co.	69,700		4,902,698
			5,851,254
Tobacco - 1.0%
Altria Group, Inc.	30,230		2,101,892
TOTAL CONSUMER STAPLES			14,194,931
ENERGY - 11.3%
Energy Equipment & Services - 5.1%
Baker Hughes, Inc.	12,630		1,141,373
Cameron International Corp. (a)	33,300		3,073,257
Diamond Offshore Drilling, Inc.	2,600		294,554
Halliburton Co.	4,300		165,120
Nabors Industries Ltd. (a)	12,700		390,779
Schlumberger Ltd. (NY Shares)	36,915		3,876,075
Smith International, Inc.	32,524		2,322,214
			11,263,372
Oil, Gas & Consumable Fuels - 6.2%
Chesapeake Energy Corp.	17,800		627,628
Devon Energy Corp.	9,700		807,040
EOG Resources, Inc.	8,400		607,572
Exxon Mobil Corp.	83,336		7,713,580
Peabody Energy Corp.	17,300		828,151
Petroplus Holdings AG	4,109		362,491
Plains Exploration & Production Co. (a)	20,100		888,822
Ultra Petroleum Corp. (a)	8,400		521,136
Valero Energy Corp.	17,700		1,189,086
			13,545,506
TOTAL ENERGY			24,808,878
Common Stocks - continued
	Shares		Value
FINANCIALS - 20.2%
Capital Markets - 5.4%
Ameriprise Financial, Inc.	14,700		$ 927,717
Bank New York Mellon Corp.	28,254		1,247,132
Charles Schwab Corp.	56,920		1,229,472
Franklin Resources, Inc.	5,200		663,000
Goldman Sachs Group, Inc.	10,000		2,167,400
Janus Capital Group, Inc.	19,200		542,976
Lehman Brothers Holdings, Inc.	9,000		555,570
State Street Corp. (d)	52,428		3,573,492
T. Rowe Price Group, Inc.	18,100		1,007,989
			11,914,748
Commercial Banks - 0.9%
Commerce Bancorp, Inc.	14,900		577,822
PNC Financial Services Group, Inc.	4,300		292,830
Standard Chartered PLC (United Kingdom)	20,508		671,432
U.S. Bancorp, Delaware	4,300		139,879
Wells Fargo & Co.	11,300		402,506
			2,084,469
Consumer Finance - 0.8%
American Express Co.	20,000		1,187,400
Capital One Financial Corp.	7,200		478,296
			1,665,696
Diversified Financial Services - 3.3%
Bank of America Corp.	51,880		2,608,008
Citigroup, Inc.	83,200		3,882,944
Deutsche Boerse AG	2,415		328,882
Moody's Corp.	10,100		509,040
			7,328,874
Insurance - 8.8%
ACE Ltd.	26,900		1,629,333
AFLAC, Inc.	16,500		941,160
American International Group, Inc.	110,130		7,450,295
Berkshire Hathaway, Inc. Class A (a)	17		2,014,670
Everest Re Group Ltd.	7,900		870,896
Fidelity National Financial, Inc. Class A	27,600		482,448
Hartford Financial Services Group, Inc.	20,000		1,851,000
Lincoln National Corp.	9,299		613,455
National Financial Partners Corp.	13,000		688,740
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
Prudential Financial, Inc.	19,900		$ 1,941,842
W.R. Berkley Corp.	30,654		908,278
			19,392,117
Real Estate Investment Trusts - 0.4%
Annaly Capital Management, Inc.	57,800		920,754
Real Estate Management & Development - 0.1%
Move, Inc. (a)	46,000		126,960
Thrifts & Mortgage Finance - 0.5%
Hudson City Bancorp, Inc.	77,800		1,196,564
TOTAL FINANCIALS			44,630,182
HEALTH CARE - 11.7%
Biotechnology - 2.1%
Amgen, Inc. (a)	12,290		695,245
Biogen Idec, Inc. (a)	10,400		689,832
Celgene Corp. (a)	5,500		392,205
Cephalon, Inc. (a)	7,500		547,950
Genentech, Inc. (a)	11,000		858,220
Gilead Sciences, Inc. (a)	21,820		891,783
PDL BioPharma, Inc. (a)(d)	29,900		646,139
			4,721,374
Health Care Equipment & Supplies - 3.8%
Alcon, Inc.	4,100		590,072
Baxter International, Inc.	12,700		714,756
Becton, Dickinson & Co.	14,700		1,206,135
C.R. Bard, Inc.	10,400		917,176
Cooper Companies, Inc.	9,100		477,022
Covidien Ltd. (a)	18,350		761,525
DJO, Inc. (a)	20,100		986,910
Medtronic, Inc.	29,800		1,681,018
Mindray Medical International Ltd. sponsored ADR (d)	8,400		360,780
St. Jude Medical, Inc. (a)	14,430		635,930
			8,331,324
Health Care Providers & Services - 1.6%
Brookdale Senior Living, Inc.	8,000		318,480
Health Net, Inc. (a)	6,900		372,945
Henry Schein, Inc. (a)	22,763		1,384,901
I-trax, Inc. (a)	29,900		113,620
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Health Care Providers & Services - continued
Medco Health Solutions, Inc. (a)	9,200		$ 831,588
UnitedHealth Group, Inc.	8,900		431,027
			3,452,561
Life Sciences Tools & Services - 0.4%
Affymetrix, Inc. (a)	12,500		317,125
Millipore Corp. (a)	9,200		697,360
			1,014,485
Pharmaceuticals - 3.8%
Allergan, Inc.	12,400		799,428
Johnson & Johnson	24,400		1,603,080
Merck & Co., Inc.	53,800		2,780,922
Pfizer, Inc.	21,800		532,574
Roche Holding AG (participation certificate)	4,933		890,900
Schering-Plough Corp.	33,800		1,069,094
Wyeth	14,500		645,975
			8,321,973
TOTAL HEALTH CARE			25,841,717
INDUSTRIALS - 12.6%
Aerospace & Defense - 3.5%
General Dynamics Corp.	25,400		2,145,538
Hexcel Corp. (a)	18,500		420,135
Honeywell International, Inc.	14,400		856,368
Lockheed Martin Corp.	7,500		813,675
United Technologies Corp.	43,700		3,516,976
			7,752,692
Air Freight & Logistics - 0.6%
C.H. Robinson Worldwide, Inc.	9,300		504,897
FedEx Corp.	1,600		167,600
Panalpina Welttransport Holding AG	1,490		248,301
United Parcel Service, Inc. Class B	4,600		345,460
			1,266,258
Airlines - 0.3%
AMR Corp. (a)	8,600		191,694
UAL Corp. (a)	9,800		455,994
			647,688
Electrical Equipment - 1.1%
Alstom SA	2,500		508,262
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Electrical Equipment - continued
Evergreen Solar, Inc. (a)(d)	41,800		$ 373,274
Gamesa Corporacion Tecnologica, SA	7,900		322,754
Suntech Power Holdings Co. Ltd. sponsored ADR (a)	13,900		554,610
Vestas Wind Systems AS (a)	9,200		726,814
			2,485,714
Industrial Conglomerates - 5.5%
3M Co.	15,700		1,469,206
General Electric Co.	190,300		7,878,417
McDermott International, Inc. (a)	40,700		2,201,056
Siemens AG sponsored ADR	4,600		631,350
			12,180,029
Machinery - 0.9%
Danaher Corp.	12,900		1,066,959
Eaton Corp.	9,600		950,784
			2,017,743
Road & Rail - 0.7%
Landstar System, Inc.	13,400		562,398
Union Pacific Corp.	8,100		915,786
			1,478,184
TOTAL INDUSTRIALS			27,828,308
INFORMATION TECHNOLOGY - 20.2%
Communications Equipment - 4.7%
Cisco Systems, Inc. (a)	160,600		5,317,466
Comverse Technology, Inc. (a)	31,500		623,700
Corning, Inc.	36,000		887,400
Harris Corp.	16,200		936,198
Juniper Networks, Inc. (a)	25,600		937,216
Motorola, Inc.	13,300		246,449
QUALCOMM, Inc.	15,600		659,256
Research In Motion Ltd. (a)	7,200		709,560
			10,317,245
Computers & Peripherals - 2.7%
Apple, Inc. (a)	12,800		1,965,312
EMC Corp. (a)	21,800		453,440
Hewlett-Packard Co.	51,400		2,559,206
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Computers & Peripherals - continued
SanDisk Corp. (a)	7,875		$ 433,913
Sun Microsystems, Inc. (a)	79,900		448,239
			5,860,110
Electronic Equipment & Instruments - 0.3%
Agilent Technologies, Inc. (a)	17,194		634,115
Internet Software & Services - 2.7%
CMGI, Inc. (a)	117,900		160,344
eBay, Inc. (a)	38,646		1,507,967
Google, Inc. Class A (sub. vtg.) (a)	6,750		3,829,073
Yahoo!, Inc. (a)	14,000		375,760
			5,873,144
IT Services - 0.6%
Patni Computer Systems Ltd. sponsored ADR	4,600		107,410
Paychex, Inc.	18,900		774,900
The Western Union Co.	22,600		473,922
			1,356,232
Office Electronics - 0.1%
Canon, Inc.	6,200		336,598
Semiconductors & Semiconductor Equipment - 4.7%
Advanced Micro Devices, Inc. (a)	50,000		660,000
Applied Materials, Inc.	67,318		1,393,483
ARM Holdings PLC sponsored ADR	42,500		399,925
Broadcom Corp. Class A (a)	27,300		994,812
Fairchild Semiconductor International, Inc. (a)	28,400		530,512
FormFactor, Inc. (a)	13,900		616,743
Infineon Technologies AG sponsored ADR (a)	47,900		822,922
Intel Corp.	78,400		2,027,424
Intersil Corp. Class A	6,488		216,894
Lam Research Corp. (a)	3,800		202,388
Marvell Technology Group Ltd. (a)	17,800		291,386
Maxim Integrated Products, Inc.	27,100		795,385
Microchip Technology, Inc.	8,100		294,192
Micron Technology, Inc. (a)(d)	29,900		331,890
National Semiconductor Corp.	19,400		526,128
Samsung Electronics Co. Ltd.	270		169,644
			10,273,728
Software - 4.4%
Adobe Systems, Inc. (a)	28,600		1,248,676
Cadence Design Systems, Inc. (a)	8,600		190,834
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - continued
Cognos, Inc. (a)	15,500		$ 643,715
Electronic Arts, Inc. (a)	11,400		638,286
Microsoft Corp.	178,300		5,252,718
Nintendo Co. Ltd.	700		363,160
Oracle Corp. (a)	54,600		1,182,090
Quest Software, Inc. (a)	16,300		279,708
			9,799,187
TOTAL INFORMATION TECHNOLOGY			44,450,359
MATERIALS - 2.5%
Chemicals - 1.6%
Albemarle Corp.	3,100		137,020
Monsanto Co.	19,100		1,637,634
Praxair, Inc.	20,600		1,725,456
			3,500,110
Metals & Mining - 0.9%
Alcoa, Inc.	19,100		747,192
Barrick Gold Corp.	14,400		578,462
Titanium Metals Corp. (a)	18,130		608,443
			1,934,097
TOTAL MATERIALS			5,434,207
TELECOMMUNICATION SERVICES - 4.1%
Diversified Telecommunication Services - 3.3%
AT&T, Inc.	94,600		4,002,526
Level 3 Communications, Inc. (a)(d)	141,900		659,835
Qwest Communications International, Inc. (a)	32,200		294,952
Verizon Communications, Inc.	52,200		2,311,416
			7,268,729
Wireless Telecommunication Services - 0.8%
American Tower Corp. Class A (a)	31,600		1,375,864
Sprint Nextel Corp.	23,000		437,000
			1,812,864
TOTAL TELECOMMUNICATION SERVICES			9,081,593
Common Stocks - continued
	Shares		Value
UTILITIES - 0.8%
Electric Utilities - 0.8%
Exelon Corp.	23,800		$ 1,793,568
TOTAL COMMON STOCKS (Cost $173,540,247)		212,012,619
Money Market Funds - 6.5%

Fidelity Cash Central Fund, 5.12% (b)	7,442,334		7,442,334
Fidelity Securities Lending Cash Central Fund, 5.17% (b)(c)	6,835,108		6,835,108
TOTAL MONEY MARKET FUNDS (Cost $14,277,442)		14,277,442
TOTAL INVESTMENT PORTFOLIO - 102.6% (Cost $187,817,689)			226,290,061
NET OTHER ASSETS - (2.6)%			(5,663,110)
NET ASSETS - 100%		$ 220,626,951

Legend

(a) Non-income producing

(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	$ 98,172
Fidelity Securities Lending Cash Central Fund	5,674
Total	$ 103,846

Income Tax Information

At September 30, 2007, the aggregate cost of investment securities for income tax purposes was $188,296,389. Net unrealized appreciation aggregated $37,993,672, of which $41,637,583 related to appreciated investment securities and $3,643,911 related to depreciated investment securities.

Investment Valuation

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/Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer

Date:	November 29, 2007

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/ Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer

Date:	November 29, 2007

By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer

Date:	November 29, 2007