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:

December 31

 

 

Date of reporting period:

September 30, 2011

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Series
Emerging Markets Debt Fund

September 30, 2011 

1.924256.100

SED-QTLY-1111

Investments September 30, 2011 (Unaudited)

Showing Percentage of Net Assets

Nonconvertible Bonds - 26.1%

 

Principal Amount (b)

Value

Argentina - 1.6%

Aeropuertos Argentina 2000 SA 10.75% 12/1/20 (d)

$ 1,212,500

$ 1,236,750

City of Buenos Aires 12.5% 4/6/15 (d)

5,100,000

5,100,000

Empresa Distribuidora y Comercializadora Norte SA 9.75% 10/25/22 (d)

700,000

584,500

Pan American Energy LLC 7.875% 5/7/21 (d)

1,630,000

1,621,850

Transportadora de Gas del Sur SA 7.875% 5/14/17 (d)

3,455,000

3,057,675

YPF SA 10% 11/2/28

215,000

237,575

TOTAL ARGENTINA

11,838,350

Brazil - 1.5%

Banco Bradesco SA 5.9% 1/16/21 (d)

550,000

533,500

Banco Nacional de Desenvolvimento Economico e Social:

5.5% 7/12/20 (d)

1,300,000

1,339,000

6.5% 6/10/19 (d)

860,000

950,300

Banco Votorantim SA 5.25% 2/11/16 (d)

950,000

935,750

BFF International Ltd. 7.25% 1/28/20 (d)

1,450,000

1,511,625

Braskem Finance Ltd. 7% 5/7/20 (d)

625,000

628,125

Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 6.25% 12/16/20 (d)

700,000

696,500

OGX Petroleo e Gas Participacoes SA 8.5% 6/1/18 (d)

1,710,000

1,530,450

Rearden G Holdings Eins GmbH 7.875% 3/30/20 (d)

1,540,000

1,478,400

Telemar Norte Leste SA 5.5% 10/23/20 (d)

875,000

835,625

Votorantim Cimentos SA 7.25% 4/5/41 (d)

1,000,000

945,000

TOTAL BRAZIL

11,384,275

British Virgin Islands - 0.2%

Arcos Dorados Holdings, Inc. 10.25% 7/13/16 (d)

BRL

2,812,000

1,461,313

Canada - 0.3%

Pacific Rubiales Energy Corp. 8.75% 11/10/16

2,125,000

2,295,000

Sino-Forest Corp. 6.25% 10/21/17 (d)

1,245,000

286,350

TOTAL CANADA

2,581,350

Cayman Islands - 1.1%

Braskem Finance Ltd. 5.75% 4/15/21 (d)

1,000,000

915,000

Fibria Overseas Finance Ltd. 6.75% 3/3/21 (d)

800,000

724,000

Odebrecht Finance Ltd.:

7% 4/21/20 (d)

1,500,000

1,560,000

7.5% (d)(e)

1,345,000

1,304,650

Nonconvertible Bonds - continued

 

Principal Amount (b)

Value

Cayman Islands - continued

Petrobras International Finance Co. Ltd.:

6.875% 1/20/40

$ 1,485,000

$ 1,608,255

8.375% 12/10/18

1,600,000

1,888,000

TOTAL CAYMAN ISLANDS

7,999,905

Chile - 0.1%

Automotores Gildemeister SA 8.25% 5/24/21 (d)

1,070,000

1,032,550

Dominican Republic - 0.0%

Cerveceria Nacional Dominicana C por A 16% 3/27/12 (d)

220,000

197,274

Egypt - 0.2%

African Export-Import Bank 8.75% 11/13/14

1,125,000

1,203,750

El Salvador - 0.4%

Telemovil Finance Co. Ltd. 8% 10/1/17 (d)

2,900,000

2,900,000

Georgia - 0.1%

Georgian Railway Ltd. 9.875% 7/22/15

900,000

877,500

Indonesia - 0.6%

Indo Energy Finance BV 7% 5/7/18 (d)

1,300,000

1,105,000

PT Adaro Indonesia 7.625% 10/22/19 (d)

800,000

780,000

PT Pertamina Persero:

5.25% 5/23/21 (d)

1,600,000

1,548,000

6.5% 5/27/41 (d)

830,000

805,100

TOTAL INDONESIA

4,238,100

Ireland - 0.4%

SCF Capital Ltd. 5.375% 10/27/17 (d)

1,000,000

860,000

VIP Finance Ireland Ltd. 7.748% 2/2/21 (d)

1,125,000

945,000

Vnesheconombank Via VEB Finance Ltd. 6.8% 11/22/25 (d)

1,069,000

1,004,860

TOTAL IRELAND

2,809,860

Kazakhstan - 0.6%

Development Bank of Kazakhstan JSC 5.5% 12/20/15 (d)

1,650,000

1,559,250

Zhaikmunai Finance BV 10.5% 10/19/15 (d)

3,475,000

3,005,875

TOTAL KAZAKHSTAN

4,565,125

Korea (South) - 0.2%

Export-Import Bank of Korea 5.1% 10/29/13 (d)

INR

58,800,000

1,191,234

Nonconvertible Bonds - continued

 

Principal Amount (b)

Value

Luxembourg - 2.3%

Alrosa Finance SA:

(Reg. S) 8.875% 11/17/14

$ 1,550,000

$ 1,588,750

7.75% 11/3/20 (d)

550,000

511,500

Aquarius Investments Luxemburg 8.25% 2/18/16

600,000

588,000

Evraz Group SA:

8.25% 11/10/15 (d)

1,600,000

1,536,000

9.5% 4/24/18 (Reg. S)

910,000

882,700

MHP SA 10.25% 4/29/15 (d)

1,760,000

1,496,000

RSHB Capital SA:

6% 6/3/21 (d)

1,005,000

859,275

9% 6/11/14 (d)

1,250,000

1,331,250

Steel Capital SA Ln Partner Net Program 6.25% 7/26/16 (d)

1,835,000

1,568,925

T2 Capital Finance Co. SA 6.95% 2/6/17 (Reg. S) (c)

1,646,000

1,631,598

TMK Capital SA 7.75% 1/27/18

1,000,000

897,500

Vimpel Communications 8.25% 5/23/16 (Reg. S) (Issued by UBS Luxembourg SA for Vimpel Communications)

4,900,000

4,704,000

TOTAL LUXEMBOURG

17,595,498

Mexico - 2.6%

Alestra SA de RL de CV 11.75% 8/11/14

2,945,000

3,210,050

Gruma SAB de CV 7.75% (Reg. S) (e)

2,085,000

2,012,025

Kansas City Southern de Mexico SA de CV 12.5% 4/1/16

626,000

726,160

Petroleos Mexicanos:

5.5% 1/21/21

2,250,000

2,362,500

6% 3/5/20

1,450,000

1,580,500

6.5% 6/2/41 (d)

1,250,000

1,293,750

6.625% (d)(e)

5,355,000

5,314,838

8% 5/3/19

1,350,000

1,650,375

TV Azteca SA de CV 7.5% 5/25/18 (Reg. S)

1,335,000

1,281,600

TOTAL MEXICO

19,431,798

Mongolia - 0.1%

Trade & Development Bank of Mongolia LLC 8.5% 10/25/13 (Reg.S)

1,000,000

960,000

Nonconvertible Bonds - continued

 

Principal Amount (b)

Value

Multi-National - 0.5%

Eastern and Southern African Trade and Development Bank 6.875% 1/9/16 (Reg. S)

$ 1,000,000

$ 900,000

International Bank for Reconstruction & Development 8.2% 12/12/12 

NGN

400,000,000

2,501,564

TOTAL MULTI-NATIONAL

3,401,564

Netherlands - 3.3%

DTEK Finance BV 9.5% 4/28/15 (d)

1,250,000

1,087,500

HSBK (Europe) BV:

7.25% 5/3/17 (d)

2,300,000

2,116,000

9.25% 10/16/13 (d)

2,200,000

2,266,000

Intergas Finance BV:

6.375% 5/14/17 (Reg. S)

600,000

612,000

6.875% 11/4/11 (Reg. S)

1,582,000

1,578,045

KazMunaiGaz Finance Sub BV:

6.375% 4/9/21 (d)

1,000,000

975,000

7% 5/5/20 (d)

1,985,000

1,985,000

8.375% 7/2/13 (d)

1,000,000

1,040,000

9.125% 7/2/18 (d)

1,775,000

1,988,000

11.75% 1/23/15 (d)

2,175,000

2,512,125

Majapahit Holding BV:

7.25% 6/28/17 (Reg. S)

800,000

856,000

7.75% 10/17/16 (Reg. S)

875,000

953,750

7.75% 1/20/20 (d)

1,650,000

1,831,500

8% 8/7/19 (d)

1,175,000

1,316,000

Metinvest BV 10.25% 5/20/15 (d)

1,725,000

1,552,500

VimpelCom Holdings BV 7.5043% 3/1/22 (d)

2,845,000

2,276,000

TOTAL NETHERLANDS

24,945,420

Pakistan - 0.5%

Pakistan Mobile Communications Ltd. 8.625% 11/13/13 (d)

4,364,000

4,014,880

Paraguay - 0.2%

BBVA Paraguay SA 9.75% 2/11/16 (d)

1,550,000

1,627,500

Philippines - 0.5%

Development Bank of Philippines 8.375% (e)(f)

615,000

664,200

National Power Corp. 6.875% 11/2/16 (d)

650,000

721,500

Power Sector Assets and Liabilities Management Corp.:

7.25% 5/27/19 (d)

1,100,000

1,262,250

7.39% 12/2/24 (d)

1,300,000

1,498,250

TOTAL PHILIPPINES

4,146,200

Nonconvertible Bonds - continued

 

Principal Amount (b)

Value

Russia - 0.4%

MTS International Funding Ltd. 8.625% 6/22/20 (d)

$ 3,050,000

$ 3,034,750

Singapore - 0.1%

STATS ChipPAC Ltd. 7.5% 8/12/15 (d)

700,000

672,000

Trinidad & Tobago - 0.1%

Petroleum Co. of Trinidad & Tobago Ltd. (Reg. S) 6% 5/8/22

504,167

491,563

Turkey - 0.9%

Akbank T.A.S. 5.125% 7/22/15 (d)

2,350,000

2,256,000

Turkiye Garanti Bankasi AS:

2.7513% 4/20/16 (d)(f)

1,395,000

1,255,500

6.25% 4/20/21 (d)

1,750,000

1,592,500

Turkiye Is Bankasi AS 5.1% 2/1/16 (d)

1,700,000

1,640,500

TOTAL TURKEY

6,744,500

United Kingdom - 1.1%

Afren PLC 11.5% 2/1/16 (d)

1,050,000

987,000

Biz Finance PLC 8.375% 4/27/15 (Reg. S)

2,625,000

2,231,250

Standard Bank PLC 5.799% 2/9/16 (Issued by Standard Bank PLC for PrivatBank) (f)

1,150,000

770,500

The State Export-Import Bank of Ukraine JSC 5.7928% 2/9/16 (Issued by Credit Suisse First Boston International for The State Export-Import Bank of Ukraine JSC) (c)

2,000,000

1,440,000

Vedanta Resources PLC:

6.75% 6/7/16 (d)

2,500,000

2,000,000

8.25% 6/7/21 (d)

1,110,000

871,350

TOTAL UNITED KINGDOM

8,300,100

United States of America - 2.0%

Braskem America Finance Co. 7.125% 7/22/41 (d)

1,060,000

985,800

Drummond Co., Inc.:

7.375% 2/15/16

1,055,000

1,055,000

9% 10/15/14 (d)

4,265,000

4,350,300

NII Capital Corp.:

7.625% 4/1/21

585,000

585,000

10% 8/15/16

1,050,000

1,157,625

Pemex Project Funding Master Trust:

5.75% 3/1/18

2,105,000

2,286,030

6.625% 6/15/35

3,090,000

3,321,750

Southern Copper Corp. 6.75% 4/16/40

1,235,000

1,202,902

TOTAL UNITED STATES OF AMERICA

14,944,407

Nonconvertible Bonds - continued

 

Principal Amount (b)

Value

Venezuela - 4.2%

Petroleos de Venezuela SA 144A:

4.9% 10/28/14

$ 7,300,000

$ 4,964,000

5% 10/28/15

695,000

417,695

5.25% 4/12/17

3,550,000

1,996,875

5.375% 4/12/27

11,385,000

5,208,638

5.5% 4/12/37

6,300,000

2,803,500

8% 11/17/13

1,835,000

1,639,573

8.5% 11/2/17 (d)

13,020,000

8,528,100

12.75% 2/17/22 (d)

8,215,000

5,996,950

TOTAL VENEZUELA

31,555,331

TOTAL NONCONVERTIBLE BONDS

(Cost $212,678,138)


196,146,097

Government Obligations - 51.6%

 

Argentina - 5.6%

Argentine Republic:

discount (with partial capitalization through 12/31/13) 8.28% 12/31/33

5,993,615

4,075,658

0.438% 8/3/12 (f)

10,567,500

9,958,748

2.5% 12/31/38 (c)

4,000,000

1,350,000

7% 9/12/13

12,400,000

11,848,544

7% 10/3/15

15,190,000

12,654,958

Provincia de Cordoba 12.375% 8/17/17 (d)

2,100,000

1,806,000

Provincia de Neuquen Argentina 7.875% 4/26/21 (d)

795,000

755,250

TOTAL ARGENTINA

42,449,158

Bahamas (Nassau) - 0.3%

Bahamian Republic 6.95% 11/20/29 (d)

1,775,000

1,917,000

Bahrain - 0.1%

Bahrain Kingdom 5.5% 3/31/20

1,000,000

950,000

Belarus - 0.7%

Belarus Republic:

8.75% 8/3/15 (Reg. S)

4,775,000

3,438,000

8.95% 1/26/18

2,150,000

1,521,125

TOTAL BELARUS

4,959,125

Bermuda - 0.1%

Bermuda Government 5.603% 7/20/20 (d)

920,000

995,900

Government Obligations - continued

 

Principal Amount (b)

Value

Brazil - 2.5%

Banco Nacional de Desenvolvimento Economico e Social 6.369% 6/16/18 (d)

$ 1,215,000

$ 1,330,425

Brazilian Federative Republic:

6% 1/17/17

2,090,000

2,387,825

7.125% 1/20/37

2,510,000

3,206,525

8.25% 1/20/34

1,620,000

2,280,150

8.75% 2/4/25

1,225,000

1,737,050

10.125% 5/15/27

3,045,000

4,795,875

12.25% 3/6/30

1,845,000

3,357,900

TOTAL BRAZIL

19,095,750

Colombia - 2.0%

Colombian Republic:

4.375% 7/12/21

1,955,000

1,994,100

7.375% 1/27/17

1,495,000

1,782,788

7.375% 3/18/19

1,440,000

1,774,800

7.375% 9/18/37

2,750,000

3,575,000

10.375% 1/28/33

2,670,000

4,205,250

11.75% 2/25/20

1,100,000

1,688,500

TOTAL COLOMBIA

15,020,438

Congo - 0.3%

Congo Republic 3% 6/30/29 (c)

3,179,650

2,066,773

Croatia - 0.9%

Croatia Republic:

6.375% 3/24/21 (d)

2,375,000

2,149,375

6.625% 7/14/20 (d)

2,295,000

2,145,825

6.75% 11/5/19 (d)

2,525,000

2,424,354

TOTAL CROATIA

6,719,554

Dominican Republic - 0.6%

Dominican Republic:

1.2156% 8/30/24 (f)

750,000

641,250

7.5% 5/6/21 (d)

2,225,000

2,174,938

9.04% 1/23/18 (d)

1,475,519

1,608,315

TOTAL DOMINICAN REPUBLIC

4,424,503

El Salvador - 0.5%

El Salvador Republic:

7.375% 12/1/19 (d)

600,000

639,000

7.625% 2/1/41 (d)

800,000

768,000

7.65% 6/15/35 (Reg. S)

1,275,000

1,236,750

Government Obligations - continued

 

Principal Amount (b)

Value

El Salvador - continued

El Salvador Republic: - continued

7.75% 1/24/23 (Reg. S)

$ 700,000

$ 742,000

8.25% 4/10/32 (Reg. S)

400,000

422,000

TOTAL EL SALVADOR

3,807,750

Gabon - 0.2%

Gabonese Republic 8.2% 12/12/17 (d)

1,400,000

1,533,000

Georgia - 0.3%

Georgia Republic 6.875% 4/12/21 (d)

2,135,000

2,049,600

Ghana - 0.7%

Ghana Republic:

8.5% 10/4/17 (d)

950,000

997,500

14.25% 7/29/13 

GHS

1,600,000

1,009,044

14.99% 3/11/13 

GHS

2,775,000

1,768,475

15.65% 6/3/13 

GHS

2,000,000

1,288,282

TOTAL GHANA

5,063,301

Hungary - 0.9%

Hungarian Republic:

6.25% 1/29/20

1,650,000

1,600,500

6.375% 3/29/21

3,168,000

3,057,120

7.625% 3/29/41

1,878,000

1,819,313

TOTAL HUNGARY

6,476,933

Indonesia - 2.9%

Indonesian Republic:

4.875% 5/5/21 (d)

2,205,000

2,227,050

5.875% 3/13/20 (d)

2,925,000

3,159,000

6.625% 2/17/37 (d)

2,050,000

2,301,125

6.875% 1/17/18 (d)

2,300,000

2,581,750

7.75% 1/17/38 (d)

2,975,000

3,733,625

8.5% 10/12/35 (Reg. S)

2,525,000

3,408,750

11.625% 3/4/19 (d)

3,225,000

4,587,563

TOTAL INDONESIA

21,998,863

Iraq - 0.7%

Republic of Iraq 5.8% 1/15/28 (Reg. S)

6,675,000

5,306,625

Jordan - 0.1%

Jordanian Kingdom 3.875% 11/12/15

1,050,000

972,563

Government Obligations - continued

 

Principal Amount (b)

Value

Lebanon - 0.8%

Lebanese Republic:

4% 12/31/17

$ 5,112,250

$ 4,997,224

5.15% 11/12/18

1,050,000

1,038,240

TOTAL LEBANON

6,035,464

Lithuania - 0.6%

Lithuanian Republic:

5.125% 9/14/17 (d)

850,000

839,375

6.125% 3/9/21 (d)

1,000,000

1,000,000

6.75% 1/15/15 (d)

400,000

420,000

7.375% 2/11/20 (d)

2,050,000

2,219,125

TOTAL LITHUANIA

4,478,500

Mexico - 3.5%

United Mexican States:

5.125% 1/15/20

2,448,000

2,656,080

5.625% 1/15/17

3,492,000

3,884,850

5.75% 10/12/10

2,704,000

2,676,960

5.95% 3/19/19

2,090,000

2,372,150

6.05% 1/11/40

6,300,000

7,169,400

6.75% 9/27/34

3,750,000

4,603,125

7.5% 4/8/33

1,050,000

1,388,625

8.3% 8/15/31

1,160,000

1,653,000

TOTAL MEXICO

26,404,190

Nigeria - 0.2%

Republic of Nigeria 6.75% 1/28/21 (d)

1,575,000

1,523,813

Pakistan - 0.5%

Islamic Republic of Pakistan 7.125% 3/31/16 (d)

4,200,000

3,402,000

Peru - 1.2%

Peruvian Republic:

5.625% 11/18/50

1,725,000

1,716,375

7.35% 7/21/25

1,500,000

1,860,000

8.75% 11/21/33

3,580,000

5,065,700

TOTAL PERU

8,642,075

Philippines - 2.5%

Philippine Republic:

5.5% 3/30/26

1,250,000

1,304,688

6.375% 1/15/32

1,000,000

1,133,800

6.375% 10/23/34

2,025,000

2,318,625

6.5% 1/20/20

1,450,000

1,678,375

Government Obligations - continued

 

Principal Amount (b)

Value

Philippines - continued

Philippine Republic: - continued

7.5% 9/25/24

$ 890,000

$ 1,072,450

7.75% 1/14/31

1,300,000

1,668,940

9.5% 2/2/30

3,045,000

4,453,313

9.875% 1/15/19

1,325,000

1,775,500

10.625% 3/16/25

2,285,000

3,450,350

TOTAL PHILIPPINES

18,856,041

Poland - 0.5%

Polish Government:

3.875% 7/16/15

850,000

854,250

5.125% 4/21/21

1,170,000

1,167,075

6.375% 7/15/19

1,800,000

1,980,000

TOTAL POLAND

4,001,325

Russia - 5.3%

Russian Federation:

3.625% 4/29/15 (d)

1,600,000

1,574,080

5% 4/29/20 (d)

1,900,000

1,871,500

7.5% 3/31/30 (Reg. S)

24,436,275

27,466,365

11% 7/24/18 (Reg. S)

910,000

1,230,775

12.75% 6/24/28 (Reg. S)

4,825,000

8,048,100

TOTAL RUSSIA

40,190,820

Senegal - 0.1%

Republic of Senegal 8.75% 5/13/21 (d)

825,000

792,000

Serbia - 1.6%

Republic of Serbia:

6.75% 11/1/24 (d)

11,394,001

10,482,481

7.25% 9/28/21 (d)

1,690,000

1,605,500

TOTAL SERBIA

12,087,981

Sri Lanka - 0.8%

Democratic Socialist Republic of Sri Lanka:

6.25% 10/4/20 (d)

2,300,000

2,219,500

6.25% 7/27/21 (d)

1,695,000

1,627,200

7.4% 1/22/15 (d)

2,200,000

2,277,000

TOTAL SRI LANKA

6,123,700

Turkey - 5.8%

Turkish Republic:

0% 2/20/13 

TRY

4,355,000

2,093,671

Government Obligations - continued

 

Principal Amount (b)

Value

Turkey - continued

Turkish Republic: - continued

5.625% 3/30/21

$ 1,700,000

$ 1,751,000

6% 1/14/41

600,000

568,500

6.75% 4/3/18

3,500,000

3,858,750

6.75% 5/30/40

2,450,000

2,566,375

6.875% 3/17/36

5,650,000

6,017,250

7% 9/26/16

2,800,000

3,115,000

7.25% 3/15/15

2,100,000

2,322,600

7.25% 3/5/38

3,825,000

4,260,285

7.375% 2/5/25

5,500,000

6,283,750

7.5% 7/14/17

3,100,000

3,541,750

7.5% 11/7/19

2,500,000

2,890,750

11.875% 1/15/30

2,550,000

4,175,625

TOTAL TURKEY

43,445,306

Ukraine - 2.4%

Ukraine Financing of Infrastructure Projects State Enterprise 8.375% 11/3/17 (d)

3,150,000

2,898,000

Ukraine Government:

6.25% 6/17/16 (d)

3,015,000

2,698,425

6.385% 6/26/12 (d)

2,550,000

2,479,875

6.75% 11/14/17 (d)

2,675,000

2,380,750

6.875% 9/23/15 (d)

1,925,000

1,780,625

7.65% 6/11/13 (d)

3,005,000

2,899,825

7.75% 9/23/20 (d)

1,550,000

1,391,125

7.95% 2/23/21 (d)

1,700,000

1,538,500

TOTAL UKRAINE

18,067,125

United Arab Emirates - 0.1%

United Arab Emirates 7.75% 10/5/20 (Reg. S)

840,000

835,800

Uruguay - 0.7%

Uruguay Republic:

7.875% 1/15/33 pay-in-kind

1,650,000

2,079,000

8% 11/18/22

2,550,000

3,174,750

TOTAL URUGUAY

5,253,750

Venezuela - 4.8%

Venezuelan Republic:

oil recovery rights 4/15/20 (g)

6,200

168,950

6% 12/9/20

2,330,000

1,287,325

7% 3/31/38

2,000,000

1,050,000

7.75% 10/13/19 (Reg. S)

3,375,000

2,151,563

Government Obligations - continued

 

Principal Amount (b)

Value

Venezuela - continued

Venezuelan Republic: - continued

8.5% 10/8/14

$ 2,200,000

$ 1,925,000

9% 5/7/23 (Reg. S)

9,025,000

5,663,188

9.25% 9/15/27

6,150,000

3,874,500

9.25% 5/7/28 (Reg. S)

4,215,000

2,602,763

9.375% 1/13/34

2,630,000

1,637,175

10.75% 9/19/13

2,350,000

2,303,000

11.95% 8/5/31 (Reg. S)

4,190,000

3,088,030

12.75% 8/23/22

10,055,000

7,993,725

13.625% 8/15/18

2,415,000

2,318,400

TOTAL VENEZUELA

36,063,619

Vietnam - 0.8%

Vietnamese Socialist Republic:

1.3258% 3/12/16 (f)

293,478

249,457

4% 3/12/28 (c)

1,950,000

1,579,500

6.75% 1/29/20 (d)

950,000

893,000

6.875% 1/15/16 (d)

3,625,000

3,552,500

TOTAL VIETNAM

6,274,457

TOTAL GOVERNMENT OBLIGATIONS

(Cost $408,218,942)


388,284,802

Sovereign Loan Participations - 0.4%

 

Indonesia - 0.4%

Indonesian Republic loan participation Goldman Sachs 1.25% 12/14/19 (f)
(Cost $2,847,831)

2,994,630


2,841,155

Preferred Securities - 1.1%

 

 

 

 

Brazil - 0.7%

Globo Comunicacoes e Participacoes SA 6.25% (c)(d)(e)

4,850,000

5,042,565

Cayman Islands - 0.4%

CSN Islands XII Corp. 7% (Reg. S) (e)

3,350,000

3,103,260

TOTAL PREFERRED SECURITIES

(Cost $8,435,612)


8,145,825

Money Market Funds - 6.8%

Shares

Value

Fidelity Cash Central Fund, 0.12% (a)
(Cost $51,553,545)

51,553,545

$ 51,553,545

TOTAL INVESTMENT PORTFOLIO - 86.0%

(Cost $683,734,068)

646,971,424

NET OTHER ASSETS (LIABILITIES) - 14.0%

105,019,425

NET ASSETS - 100%

$ 751,990,849

Currency Abbreviations

BRL

-

Brazilian real

GHS

-

Ghana Cedi

INR

-

Indian rupee

NGN

-

Nigerian naira

TRY

-

New Turkish Lira

Legend

(a) 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.

(b) Principal Amount is stated in United States dollars unless otherwise noted.

(c) Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.

(d) 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 $225,616,158 or 30.0% of net assets.

(e) Security is perpetual in nature with no stated maturity date.

(f) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(g) Quantity represents share amount.

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

$ 29,757

Other Information

The following is a summary of the inputs used, as of September 30, 2011, 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:

Corporate Bonds

$ 196,146,097

$ -

$ 196,146,097

$ -

Government Obligations

388,284,802

-

388,284,802

-

Sovereign Loan Participations

2,841,155

-

2,841,155

-

Preferred Securities

8,145,825

-

8,145,825

-

Money Market Funds

51,553,545

51,553,545

-

-

Total Investments in Securities:

$ 646,971,424

$ 51,553,545

$ 595,417,879

$ -

Income Tax Information

At September 30, 2011, the cost of investment securities for income tax purposes was $683,100,525. Net unrealized depreciation aggregated $36,129,101, of which $1,964,152 related to appreciated investment securities and $38,093,253 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. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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:

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, foreign government and government agency obligations, preferred securities, and sovereign loan participations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions.

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.

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, 2011

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, 2011

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 29, 2011