-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vlb1PlIYyTWG+1r9o3BkmL0mcGqQ1LBwD7dfYNj1u+CF+lbLqJLqNqmn2fIPGJU/ hlr19bXJAtRazXIMCesd9w== 0000722574-10-000314.txt : 20101129 0000722574-10-000314.hdr.sgml : 20101129 20101129165634 ACCESSION NUMBER: 0000722574-10-000314 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101129 DATE AS OF CHANGE: 20101129 EFFECTIVENESS DATE: 20101129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY HASTINGS STREET TRUST CENTRAL INDEX KEY: 0000035348 IRS NUMBER: 046026953 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-00215 FILM NUMBER: 101219464 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6173300814 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAIL ZONE Z1C 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, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Fifty®

September 30, 2010
 

1.808769.106

FIF-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.5%

Shares

Value

CONSUMER DISCRETIONARY - 16.7%

Hotels, Restaurants & Leisure - 3.5%

Las Vegas Sands Corp. (a)(c)

287,200

$ 10,008,920

Starbucks Corp.

554,500

14,184,110

 

24,193,030

Internet & Catalog Retail - 0.0%

Amazon.com, Inc. (a)

100

15,706

Leisure Equipment & Products - 2.5%

Hasbro, Inc.

392,501

17,470,220

Media - 6.5%

DIRECTV (a)

676,084

28,145,377

The Walt Disney Co.

533,141

17,652,299

 

45,797,676

Multiline Retail - 4.2%

Dollar General Corp. (c)

1,003,442

29,350,679

Textiles, Apparel & Luxury Goods - 0.0%

NIKE, Inc. Class B

100

8,014

TOTAL CONSUMER DISCRETIONARY

116,835,325

CONSUMER STAPLES - 14.1%

Beverages - 11.1%

Anheuser-Busch InBev SA NV

723,133

42,542,427

The Coca-Cola Co.

601,744

35,214,059

 

77,756,486

Food Products - 0.0%

Hershey Co.

200

9,518

Tobacco - 3.0%

Philip Morris International, Inc.

377,978

21,174,328

TOTAL CONSUMER STAPLES

98,940,332

ENERGY - 9.6%

Energy Equipment & Services - 2.0%

Weatherford International Ltd. (a)

817,480

13,978,908

Oil, Gas & Consumable Fuels - 7.6%

Chevron Corp.

130,961

10,614,389

Common Stocks - continued

Shares

Value

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

EXCO Resources, Inc.

494,812

$ 7,357,854

Exxon Mobil Corp.

571,359

35,304,273

 

53,276,516

TOTAL ENERGY

67,255,424

FINANCIALS - 8.0%

Commercial Banks - 1.6%

PNC Financial Services Group, Inc.

214,443

11,131,736

Diversified Financial Services - 3.9%

JPMorgan Chase & Co.

372,909

14,196,646

Moody's Corp. (c)

416,566

10,405,819

NBH Holdings Corp. Class A (a)(d)

131,400

2,562,300

 

27,164,765

Insurance - 2.5%

Berkshire Hathaway, Inc. Class B (a)

216,739

17,919,981

TOTAL FINANCIALS

56,216,482

HEALTH CARE - 10.9%

Health Care Equipment & Supplies - 1.1%

Edwards Lifesciences Corp. (a)

115,567

7,748,767

Health Care Providers & Services - 4.0%

McKesson Corp.

453,400

28,011,052

Pharmaceuticals - 5.8%

Merck & Co., Inc.

494,100

18,187,821

Pfizer, Inc.

1,293,534

22,209,979

 

40,397,800

TOTAL HEALTH CARE

76,157,619

INDUSTRIALS - 6.0%

Air Freight & Logistics - 0.0%

United Parcel Service, Inc. Class B

100

6,669

Commercial Services & Supplies - 3.0%

Iron Mountain, Inc.

377,600

8,435,584

Waste Management, Inc.

349,361

12,486,162

 

20,921,746

Common Stocks - continued

Shares

Value

INDUSTRIALS - continued

Industrial Conglomerates - 0.0%

3M Co.

100

$ 8,671

Machinery - 1.9%

Caterpillar, Inc.

100

7,868

Ingersoll-Rand Co. Ltd.

353,400

12,619,914

WABCO Holdings, Inc. (a)

24,500

1,027,530

 

13,655,312

Road & Rail - 1.1%

America Latina Logistica SA unit

763,400

7,779,815

TOTAL INDUSTRIALS

42,372,213

INFORMATION TECHNOLOGY - 25.8%

Communications Equipment - 4.7%

HTC Corp.

179,000

4,067,660

Juniper Networks, Inc. (a)

240,417

7,296,656

QUALCOMM, Inc.

331,291

14,947,850

Tekelec (a)

521,100

6,753,456

 

33,065,622

Computers & Peripherals - 4.1%

Apple, Inc. (a)

102,626

29,120,128

Internet Software & Services - 7.3%

Akamai Technologies, Inc. (a)

265,586

13,327,105

Baidu.com, Inc. sponsored ADR (a)

77,700

7,973,574

eBay, Inc. (a)

1,213,273

29,603,861

Google, Inc. Class A (a)

100

52,579

 

50,957,119

IT Services - 8.1%

Fiserv, Inc. (a)

389,215

20,947,551

MasterCard, Inc. Class A

159,266

35,675,584

 

56,623,135

Software - 1.6%

Autonomy Corp. PLC (a)

388,628

11,068,640

TOTAL INFORMATION TECHNOLOGY

180,834,644

Common Stocks - continued

Shares

Value

MATERIALS - 3.4%

Chemicals - 0.5%

Ecolab, Inc.

74,100

$ 3,759,834

The Mosaic Co.

970

56,997

 

3,816,831

Metals & Mining - 2.9%

Agnico-Eagle Mines Ltd. (Canada)

196,200

13,950,940

Newcrest Mining Ltd.

167,680

6,430,026

 

20,380,966

TOTAL MATERIALS

24,197,797

TOTAL COMMON STOCKS

(Cost $602,597,535)

  662,809,836

Nonconvertible Preferred Stocks - 4.0%

 

 

 

 

CONSUMER DISCRETIONARY - 4.0%

Automobiles - 4.0%

Volkswagen AG
(Cost $21,401,069)

231,100

  27,894,186

Money Market Funds - 4.6%

 

 

 

 

Fidelity Cash Central Fund, 0.25% (e)

13,299,931

13,299,931

Fidelity Securities Lending Cash Central Fund, 0.26% (b)(e)

18,848,488

18,848,488

TOTAL MONEY MARKET FUNDS

(Cost $32,148,419)

  32,148,419

TOTAL INVESTMENT PORTFOLIO - 103.1%

(Cost $656,147,023)

722,852,441

NET OTHER ASSETS (LIABILITIES) - (3.1)%

(21,418,474)

NET ASSETS - 100%

$ 701,433,967

Legend

(a) Non-income producing

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

(c) Security or a portion of the security is on loan 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 $2,562,300 or 0.4% of net assets.

(e) 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.

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

$ 18,348

Fidelity Securities Lending Cash Central Fund

7,166

Total

$ 25,514

Other Information

The following is a summary of the inputs used, as of September 30, 2010, 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

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 144,729,511

$ 144,729,511

$ -

$ -

Consumer Staples

98,940,332

98,940,332

-

-

Energy

67,255,424

67,255,424

-

-

Financials

56,216,482

53,654,182

-

2,562,300

Health Care

76,157,619

76,157,619

-

-

Industrials

42,372,213

42,372,213

-

-

Information Technology

180,834,644

180,834,644

-

-

Materials

24,197,797

24,197,797

-

-

Money Market Funds

32,148,419

32,148,419

-

-

Total Investments in Securities:

$ 722,852,441

$ 720,290,141

$ -

$ 2,562,300

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:

Beginning Balance

$ 2,562,300

Total Realized Gain (Loss)

-

Total Unrealized Gain (Loss)

-

Cost of Purchases

-

Proceeds of Sales

-

Amortization/Accretion

-

Transfers in to Level 3

-

Transfers out of Level 3

-

Ending Balance

$ 2,562,300

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at September 30, 2010

$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

Income Tax Information

At September 30, 2010, the cost of investment securities for income tax purposes was $663,703,895. Net unrealized appreciation aggregated $59,148,546, of which $76,568,345 related to appreciated investment securities and $17,419,799 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. 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.

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 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, 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 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. 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 fair value and are categorized as Level 2 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 ® Fund

Fidelity Fund
Class K

September 30, 2010 

1.808776.106

FID-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.3%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 9.3%

Automobiles - 0.6%

Bayerische Motoren Werke AG (BMW)

479,340

$ 33,618

Hotels, Restaurants & Leisure - 0.6%

Starbucks Corp.

1,314,400

33,622

Household Durables - 1.1%

PulteGroup, Inc. (a)

1,854,500

16,245

Stanley Black & Decker, Inc.

656,500

40,230

 

56,475

Internet & Catalog Retail - 0.9%

Amazon.com, Inc. (a)

281,600

44,228

Media - 2.9%

Comcast Corp. Class A

1,711,800

30,949

McGraw-Hill Companies, Inc.

907,500

30,002

The Walt Disney Co.

2,741,300

90,764

 

151,715

Multiline Retail - 0.7%

Target Corp.

651,900

34,838

Specialty Retail - 1.0%

Lowe's Companies, Inc.

1,587,100

35,376

Staples, Inc.

753,550

15,764

 

51,140

Textiles, Apparel & Luxury Goods - 1.5%

Polo Ralph Lauren Corp. Class A

877,373

78,841

TOTAL CONSUMER DISCRETIONARY

484,477

CONSUMER STAPLES - 10.4%

Beverages - 2.4%

Anheuser-Busch InBev SA NV

546,875

32,173

The Coca-Cola Co.

1,607,400

94,065

 

126,238

Food & Staples Retailing - 0.9%

Walgreen Co.

1,418,500

47,520

Food Products - 2.8%

Archer Daniels Midland Co.

1,212,300

38,697

Kellogg Co.

547,600

27,659

Nestle SA

1,523,141

81,161

 

147,517

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Household Products - 1.4%

Colgate-Palmolive Co.

477,700

$ 36,716

Procter & Gamble Co.

593,244

35,577

 

72,293

Personal Products - 0.8%

Herbalife Ltd.

645,700

38,968

Tobacco - 2.1%

British American Tobacco PLC (United Kingdom)

724,200

27,047

Philip Morris International, Inc.

1,497,400

83,884

 

110,931

TOTAL CONSUMER STAPLES

543,467

ENERGY - 9.9%

Energy Equipment & Services - 0.8%

National Oilwell Varco, Inc.

395,400

17,583

Schlumberger Ltd.

427,100

26,314

 

43,897

Oil, Gas & Consumable Fuels - 9.1%

Anadarko Petroleum Corp.

482,700

27,538

Chevron Corp.

1,512,300

122,572

Exxon Mobil Corp.

1,615,100

99,797

Marathon Oil Corp.

1,793,600

59,368

Occidental Petroleum Corp.

1,615,000

126,455

Southern Union Co.

973,400

23,420

Southwestern Energy Co. (a)

400,900

13,406

 

472,556

TOTAL ENERGY

516,453

FINANCIALS - 15.4%

Capital Markets - 2.4%

Charles Schwab Corp.

1,621,900

22,544

Goldman Sachs Group, Inc.

204,800

29,610

Morgan Stanley

1,581,400

39,029

T. Rowe Price Group, Inc.

690,100

34,550

 

125,733

Commercial Banks - 5.6%

City National Corp.

329,200

17,471

Comerica, Inc.

756,600

28,108

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Commercial Banks - continued

KeyCorp

2,164,900

$ 17,233

M&T Bank Corp. (c)

226,000

18,489

Regions Financial Corp.

3,840,900

27,923

SunTrust Banks, Inc.

1,610,800

41,607

Wells Fargo & Co.

4,786,300

120,280

Zions Bancorporation

910,051

19,439

 

290,550

Consumer Finance - 1.5%

American Express Co.

1,847,892

77,667

Diversified Financial Services - 4.5%

Bank of America Corp.

3,775,435

49,496

Citigroup, Inc. (a)

19,178,100

74,795

JPMorgan Chase & Co.

2,944,200

112,086

 

236,377

Insurance - 1.4%

Berkshire Hathaway, Inc. Class B (a)

860,200

71,121

TOTAL FINANCIALS

801,448

HEALTH CARE - 11.4%

Biotechnology - 3.0%

Amgen, Inc. (a)

938,700

51,732

Biogen Idec, Inc. (a)

527,600

29,609

Cephalon, Inc. (a)

240,200

14,998

Gilead Sciences, Inc. (a)

896,300

31,917

Incyte Corp. (a)

523,900

8,377

Theravance, Inc. (a)

250,300

5,031

Vertex Pharmaceuticals, Inc. (a)

356,700

12,331

 

153,995

Health Care Equipment & Supplies - 1.4%

C. R. Bard, Inc.

163,100

13,281

Covidien PLC

408,600

16,422

Thoratec Corp. (a)

364,025

13,462

William Demant Holding AS (a)

252,800

18,656

Zimmer Holdings, Inc. (a)

238,900

12,502

 

74,323

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Life Sciences Tools & Services - 0.7%

Covance, Inc. (a)

341,200

$ 15,965

Life Technologies Corp. (a)

463,200

21,627

 

37,592

Pharmaceuticals - 6.3%

Abbott Laboratories

500,600

26,151

Auxilium Pharmaceuticals, Inc. (a)(c)

513,300

12,720

Elan Corp. PLC sponsored ADR (a)

2,959,296

17,016

Johnson & Johnson

1,598,200

99,024

Merck & Co., Inc.

1,983,500

73,013

Novo Nordisk AS Series B sponsored ADR

181,600

17,877

Perrigo Co.

207,200

13,306

Pfizer, Inc.

1,821,297

31,272

Teva Pharmaceutical Industries Ltd. sponsored ADR

693,400

36,577

 

326,956

TOTAL HEALTH CARE

592,866

INDUSTRIALS - 13.6%

Aerospace & Defense - 1.3%

Goodrich Corp.

485,800

35,818

United Technologies Corp.

470,600

33,521

 

69,339

Building Products - 0.5%

Armstrong World Industries, Inc. (a)

591,400

24,549

Construction & Engineering - 0.5%

Fluor Corp.

561,000

27,786

Electrical Equipment - 1.2%

Cooper Industries PLC Class A

626,900

30,674

Regal-Beloit Corp.

485,700

28,506

 

59,180

Industrial Conglomerates - 2.4%

General Electric Co.

5,436,000

88,335

Tyco International Ltd.

930,400

34,174

 

122,509

Machinery - 4.3%

Caterpillar, Inc.

643,300

50,615

Cummins, Inc.

732,100

66,314

Danaher Corp.

852,200

34,608

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Machinery - continued

Deere & Co.

397,700

$ 27,752

Ingersoll-Rand Co. Ltd.

1,282,800

45,809

 

225,098

Road & Rail - 3.4%

CSX Corp.

976,100

53,998

Union Pacific Corp.

1,513,300

123,788

 

177,786

TOTAL INDUSTRIALS

706,247

INFORMATION TECHNOLOGY - 21.1%

Communications Equipment - 3.0%

HTC Corp.

984,000

22,361

Juniper Networks, Inc. (a)

1,270,800

38,569

Motorola, Inc. (a)

3,096,200

26,411

QUALCOMM, Inc.

1,468,100

66,241

 

153,582

Computers & Peripherals - 6.4%

Apple, Inc. (a)

984,900

279,459

Hewlett-Packard Co.

935,966

39,376

NetApp, Inc. (a)

271,300

13,508

 

332,343

Electronic Equipment & Components - 3.0%

Agilent Technologies, Inc. (a)

979,000

32,669

Amphenol Corp. Class A

2,505,238

122,707

 

155,376

Internet Software & Services - 3.4%

Baidu.com, Inc. sponsored ADR (a)

180,100

18,482

eBay, Inc. (a)

1,949,300

47,563

Google, Inc. Class A (a)

184,700

97,113

TelecityGroup PLC (a)

1,644,400

12,800

 

175,958

IT Services - 0.5%

International Business Machines Corp.

197,700

26,519

Semiconductors & Semiconductor Equipment - 2.1%

ASML Holding NV

793,000

23,576

GT Solar International, Inc. (a)

1,388,900

11,625

Jusung Engineering Co. Ltd. (a)

714,538

13,473

Lam Research Corp. (a)

790,400

33,078

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Manz Automation AG (a)

52,106

$ 3,517

Samsung Electronics Co. Ltd.

34,871

23,762

 

109,031

Software - 2.7%

Citrix Systems, Inc. (a)

558,900

38,139

Oracle Corp.

2,827,400

75,916

Solera Holdings, Inc.

369,200

16,304

VMware, Inc. Class A (a)

149,500

12,699

 

143,058

TOTAL INFORMATION TECHNOLOGY

1,095,867

MATERIALS - 3.5%

Chemicals - 2.1%

Albemarle Corp.

285,100

13,346

LyondellBasell Industries NV:

Class A (a)

1,128,901

26,981

Class B (a)

751,778

17,930

Solutia, Inc. (a)

1,400,700

22,439

W.R. Grace & Co. (a)

980,000

27,381

 

108,077

Metals & Mining - 1.0%

Goldcorp, Inc.

598,900

26,023

Newcrest Mining Ltd.

659,348

25,284

 

51,307

Paper & Forest Products - 0.4%

Weyerhaeuser Co.

1,453,631

22,909

TOTAL MATERIALS

182,293

TELECOMMUNICATION SERVICES - 0.8%

Wireless Telecommunication Services - 0.8%

Sprint Nextel Corp. (a)

8,567,200

39,666

UTILITIES - 0.9%

Electric Utilities - 0.7%

American Electric Power Co., Inc.

591,400

21,426

PPL Corp.

658,300

17,926

 

39,352

Common Stocks - continued

Shares

Value (000s)

UTILITIES - continued

Multi-Utilities - 0.2%

Public Service Enterprise Group, Inc.

262,900

$ 8,697

TOTAL UTILITIES

48,049

TOTAL COMMON STOCKS

(Cost $4,711,699)

5,010,833

Nonconvertible Preferred Stocks - 0.3%

 

 

 

 

CONSUMER DISCRETIONARY - 0.3%

Automobiles - 0.3%

Volkswagen AG

(Cost $15,774)

141,700

17,103

Money Market Funds - 3.3%

 

 

 

 

Fidelity Cash Central Fund, 0.25% (d)

156,517,636

156,518

Fidelity Securities Lending Cash Central Fund, 0.26% (b)(d)

14,523,500

14,524

TOTAL MONEY MARKET FUNDS

(Cost $171,042)

171,042

TOTAL INVESTMENT PORTFOLIO - 99.9%

(Cost $4,898,515)

5,198,978

NET OTHER ASSETS (LIABILITIES) - 0.1%

6,021

NET ASSETS - 100%

$ 5,204,999

Legend

(a) Non-income producing

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

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

(d) 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.

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

$ 141

Fidelity Securities Lending Cash Central Fund

10

Total

$ 151

Other Information

The following is a summary of the inputs used, as of September 30, 2010, 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

$ 501,580

$ 501,580

$ -

$ -

Consumer Staples

543,467

516,420

27,047

-

Energy

516,453

516,453

-

-

Financials

801,448

801,448

-

-

Health Care

592,866

592,866

-

-

Industrials

706,247

706,247

-

-

Information Technology

1,095,867

1,095,867

-

-

Materials

182,293

182,293

-

-

Telecommunication Services

39,666

39,666

-

-

Utilities

48,049

48,049

-

-

Money Market Funds

171,042

171,042

-

-

Total Investments in Securities:

$ 5,198,978

$ 5,171,931

$ 27,047

$ -

Income Tax Information

At September 30, 2010, the cost of investment securities for income tax purposes was $4,991,865,000. Net unrealized appreciation aggregated $207,113,000, of which $558,023,000 related to appreciated investment securities and $350,910,000 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. 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. 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.

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 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, 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 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. 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 fair value and are categorized as Level 2 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 ® Growth Discovery Fund

September 30, 2010 

1.808775.106

CII-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.4%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 16.1%

Auto Components - 0.2%

Gentex Corp.

83,500

$ 1,629

Automobiles - 0.9%

Bayerische Motoren Werke AG (BMW)

17,805

1,249

Harley-Davidson, Inc.

188,579

5,363

 

6,612

Diversified Consumer Services - 0.7%

Navitas Ltd.

502,977

2,066

Strayer Education, Inc. (c)

8,816

1,538

Universal Technical Institute, Inc.

81,450

1,592

 

5,196

Hotels, Restaurants & Leisure - 3.4%

Chipotle Mexican Grill, Inc. (a)

3,307

569

Denny's Corp. (a)

215,534

670

Home Inns & Hotels Management, Inc. sponsored ADR (a)

10,892

539

Marriott International, Inc. Class A

43,835

1,571

McDonald's Corp.

113,300

8,442

Starbucks Corp.

262,426

6,713

Starwood Hotels & Resorts Worldwide, Inc.

55,845

2,935

The Cheesecake Factory, Inc. (a)

111,198

2,943

 

24,382

Household Durables - 0.4%

Mohawk Industries, Inc. (a)

54,412

2,900

Internet & Catalog Retail - 2.3%

Amazon.com, Inc. (a)

103,639

16,278

Media - 1.8%

DIRECTV (a)

81,300

3,385

Discovery Communications, Inc. Class C (a)

88,350

3,374

Interpublic Group of Companies, Inc. (a)

315,508

3,165

McGraw-Hill Companies, Inc.

80,820

2,672

 

12,596

Multiline Retail - 1.3%

Dollarama, Inc.

144,190

3,791

Dollarama, Inc. (d)

25,900

681

Target Corp.

87,050

4,652

 

9,124

Specialty Retail - 2.8%

Bed Bath & Beyond, Inc. (a)

17,700

768

Lowe's Companies, Inc.

246,655

5,498

Ross Stores, Inc.

60,433

3,301

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

TJX Companies, Inc.

94,509

$ 4,218

Urban Outfitters, Inc. (a)

69,602

2,188

Vitamin Shoppe, Inc.

160,456

4,405

 

20,378

Textiles, Apparel & Luxury Goods - 2.3%

Coach, Inc.

102,400

4,399

lululemon athletica, Inc. (a)(c)

143,211

6,404

LVMH Moet Hennessy - Louis Vuitton

5,763

845

Polo Ralph Lauren Corp. Class A

49,868

4,481

 

16,129

TOTAL CONSUMER DISCRETIONARY

115,224

CONSUMER STAPLES - 5.2%

Beverages - 0.7%

The Coca-Cola Co.

88,500

5,179

Food & Staples Retailing - 1.4%

Costco Wholesale Corp.

14,800

954

Walgreen Co.

115,862

3,881

Whole Foods Market, Inc. (a)

149,489

5,548

 

10,383

Food Products - 0.9%

Diamond Foods, Inc. (c)

86,779

3,557

Mead Johnson Nutrition Co. Class A

45,031

2,563

 

6,120

Household Products - 1.3%

Colgate-Palmolive Co.

84,841

6,521

Procter & Gamble Co.

49,914

2,993

 

9,514

Personal Products - 0.9%

Estee Lauder Companies, Inc. Class A

29,753

1,881

Herbalife Ltd.

75,392

4,550

 

6,431

TOTAL CONSUMER STAPLES

37,627

ENERGY - 6.0%

Energy Equipment & Services - 1.8%

Halliburton Co.

135,100

4,468

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Energy Equipment & Services - continued

National Oilwell Varco, Inc.

17,100

$ 760

Oceaneering International, Inc. (a)

13,100

706

Schlumberger Ltd.

107,401

6,617

 

12,551

Oil, Gas & Consumable Fuels - 4.2%

Concho Resources, Inc. (a)

28,021

1,854

Denbury Resources, Inc. (a)

169,976

2,701

Exxon Mobil Corp.

322,337

19,917

Southwestern Energy Co. (a)

82,103

2,746

Whiting Petroleum Corp. (a)

31,500

3,009

 

30,227

TOTAL ENERGY

42,778

FINANCIALS - 5.3%

Capital Markets - 0.8%

BlackRock, Inc. Class A

14,491

2,467

Charles Schwab Corp.

170,751

2,373

Goldman Sachs Group, Inc.

5,042

729

JMP Group, Inc.

30,900

188

 

5,757

Commercial Banks - 1.6%

M&T Bank Corp. (c)

17,670

1,446

PNC Financial Services Group, Inc.

15,708

815

Wells Fargo & Co.

365,073

9,174

 

11,435

Consumer Finance - 1.2%

American Express Co.

207,700

8,730

Diversified Financial Services - 1.0%

CME Group, Inc.

4,388

1,143

JPMorgan Chase & Co.

149,200

5,680

 

6,823

Insurance - 0.5%

AFLAC, Inc.

64,300

3,325

Real Estate Management & Development - 0.2%

CB Richard Ellis Group, Inc. Class A (a)

87,100

1,592

TOTAL FINANCIALS

37,662

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - 13.2%

Biotechnology - 2.7%

Alexion Pharmaceuticals, Inc. (a)

41,290

$ 2,657

Clinical Data, Inc. (a)

144,021

2,430

Human Genome Sciences, Inc. (a)

81,900

2,440

Incyte Corp. (a)

151,137

2,417

United Therapeutics Corp. (a)

165,302

9,259

 

19,203

Health Care Equipment & Supplies - 1.5%

AGA Medical Holdings, Inc.

159,572

2,228

C. R. Bard, Inc.

7,577

617

DENTSPLY International, Inc.

12,332

394

Edwards Lifesciences Corp. (a)

53,638

3,596

NuVasive, Inc. (a)(c)

73,698

2,590

Sonova Holding AG Class B

10,307

1,259

 

10,684

Health Care Providers & Services - 3.4%

Emergency Medical Services Corp. Class A (a)

42,800

2,279

Express Scripts, Inc. (a)

202,552

9,864

Henry Schein, Inc. (a)

19,777

1,159

Medco Health Solutions, Inc. (a)

137,106

7,138

VCA Antech, Inc. (a)

182,684

3,853

 

24,293

Life Sciences Tools & Services - 1.7%

Illumina, Inc. (a)

143,076

7,039

Life Technologies Corp. (a)

72,998

3,408

QIAGEN NV (a)

88,470

1,569

 

12,016

Pharmaceuticals - 3.9%

Allergan, Inc.

24,600

1,637

Novo Nordisk AS Series B

103,996

10,292

Perrigo Co.

87,200

5,600

Teva Pharmaceutical Industries Ltd. sponsored ADR

64,222

3,388

Valeant Pharmaceuticals International, Inc.

297,025

7,492

 

28,409

TOTAL HEALTH CARE

94,605

INDUSTRIALS - 14.0%

Aerospace & Defense - 5.9%

Esterline Technologies Corp. (a)

63,021

3,607

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Aerospace & Defense - continued

Goodrich Corp.

80,121

$ 5,907

Honeywell International, Inc.

151,839

6,672

Precision Castparts Corp.

49,100

6,253

TransDigm Group, Inc.

25,858

1,604

United Technologies Corp.

255,300

18,185

 

42,228

Air Freight & Logistics - 0.5%

C.H. Robinson Worldwide, Inc.

55,100

3,853

Airlines - 0.4%

Southwest Airlines Co.

236,090

3,086

Building Products - 0.3%

Lennox International, Inc.

42,278

1,763

Commercial Services & Supplies - 1.0%

Higher One Holdings, Inc. (a)(c)

112,023

1,847

Republic Services, Inc.

145,900

4,448

Waste Connections, Inc. (a)

30,100

1,194

 

7,489

Construction & Engineering - 0.1%

Fluor Corp.

15,200

753

Electrical Equipment - 0.9%

Acuity Brands, Inc.

43,666

1,932

AMETEK, Inc.

83,500

3,989

Crompton Greaves Ltd.

115,099

808

 

6,729

Industrial Conglomerates - 1.0%

3M Co.

79,608

6,903

Machinery - 2.6%

Cummins, Inc.

70,700

6,404

Danaher Corp.

99,000

4,020

Gardner Denver, Inc.

30,209

1,622

Ingersoll-Rand Co. Ltd.

43,823

1,565

PACCAR, Inc.

51,500

2,480

WABCO Holdings, Inc. (a)

18,046

757

Weg SA

183,000

2,011

 

18,859

Professional Services - 0.8%

51job, Inc. sponsored ADR (a)(c)

21,310

798

CoStar Group, Inc. (a)

9,065

442

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Professional Services - continued

IHS, Inc. Class A (a)

12,098

$ 823

Robert Half International, Inc.

132,200

3,437

 

5,500

Road & Rail - 0.5%

Union Pacific Corp.

41,368

3,384

TOTAL INDUSTRIALS

100,547

INFORMATION TECHNOLOGY - 36.4%

Communications Equipment - 12.5%

Cisco Systems, Inc. (a)

1,536,063

33,640

DG FastChannel, Inc. (a)

39,777

865

Juniper Networks, Inc. (a)

704,369

21,378

Polycom, Inc. (a)

108,387

2,957

QUALCOMM, Inc.

619,779

27,964

Riverbed Technology, Inc. (a)

64,694

2,949

 

89,753

Computers & Peripherals - 7.7%

Apple, Inc. (a)

159,469

45,244

EMC Corp. (a)

123,240

2,503

NetApp, Inc. (a)

156,356

7,785

 

55,532

Electronic Equipment & Components - 1.7%

Agilent Technologies, Inc. (a)

286,177

9,550

Corning, Inc.

75,526

1,381

IPG Photonics Corp. (a)

24,967

603

Keyence Corp.

3,200

698

 

12,232

Internet Software & Services - 6.1%

Baidu.com, Inc. sponsored ADR (a)

68,150

6,994

eBay, Inc. (a)

196,000

4,782

Google, Inc. Class A (a)

33,043

17,374

KIT Digital, Inc. (a)(c)

82,801

993

The Knot, Inc. (a)

78,638

718

VeriSign, Inc. (a)

187,782

5,960

WebMD Health Corp. (a)

133,286

6,647

 

43,468

IT Services - 2.7%

Accenture PLC Class A

39,915

1,696

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

IT Services - continued

Cognizant Technology Solutions Corp. Class A (a)

108,000

$ 6,963

Fidelity National Information Services, Inc.

24,100

654

MasterCard, Inc. Class A

14,038

3,145

RightNow Technologies, Inc. (a)

43,835

864

Visa, Inc. Class A

81,144

6,026

 

19,348

Semiconductors & Semiconductor Equipment - 2.0%

ARM Holdings PLC

160,500

999

ARM Holdings PLC sponsored ADR (c)

328,681

6,166

Avago Technologies Ltd. (a)

174,586

3,930

Monolithic Power Systems, Inc. (a)

194,210

3,171

 

14,266

Software - 3.7%

Citrix Systems, Inc. (a)

101,667

6,938

Concur Technologies, Inc. (a)

15,551

769

Fortinet, Inc. (c)

77,336

1,933

Informatica Corp. (a)

31,800

1,221

Kingdee International Software Group Co. Ltd.

1,698,000

794

Oracle Corp.

146,328

3,929

Red Hat, Inc. (a)

42,500

1,743

Salesforce.com, Inc. (a)

28,850

3,225

Solera Holdings, Inc.

10,167

449

VanceInfo Technologies, Inc. ADR (a)(c)

49,435

1,599

VMware, Inc. Class A (a)

49,515

4,206

 

26,806

TOTAL INFORMATION TECHNOLOGY

261,405

MATERIALS - 2.2%

Chemicals - 1.4%

Air Products & Chemicals, Inc.

93,900

7,777

Ecolab, Inc.

16,387

831

Sherwin-Williams Co.

18,929

1,422

 

10,030

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Metals & Mining - 0.8%

Consolidated Thompson Iron Mines Ltd. (a)

416,200

$ 3,568

Newmont Mining Corp.

34,400

2,161

 

5,729

TOTAL MATERIALS

15,759

TELECOMMUNICATION SERVICES - 1.0%

Wireless Telecommunication Services - 1.0%

Syniverse Holdings, Inc. (a)

85,100

1,929

Vivo Participacoes SA sponsored ADR

195,800

5,320

 

7,249

TOTAL COMMON STOCKS

(Cost $638,995)

712,856

Money Market Funds - 3.2%

 

 

 

 

Fidelity Cash Central Fund, 0.25% (e)

3,891,249

3,891

Fidelity Securities Lending Cash Central Fund, 0.26% (b)(e)

19,080,754

19,081

TOTAL MONEY MARKET FUNDS

(Cost $22,972)

22,972

TOTAL INVESTMENT PORTFOLIO - 102.6%

(Cost $661,967)

735,828

NET OTHER ASSETS (LIABILITIES) - (2.6)%

(18,640)

NET ASSETS - 100%

$ 717,188

Legend

(a) Non-income producing

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

(c) Security or a portion of the security is on loan 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 $681,000 or 0.1% of net assets.

(e) 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.

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

$ 2

Fidelity Securities Lending Cash Central Fund

48

Total

$ 50

Other Information

The following is a summary of the inputs used, as of September 30, 2010, 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

$ 115,224

$ 115,224

$ -

$ -

Consumer Staples

37,627

37,627

-

-

Energy

42,778

42,778

-

-

Financials

37,662

37,662

-

-

Health Care

94,605

84,313

10,292

-

Industrials

100,547

100,547

-

-

Information Technology

261,405

259,708

1,697

-

Materials

15,759

15,759

-

-

Telecommunication Services

7,249

7,249

-

-

Money Market Funds

22,972

22,972

-

-

Total Investments in Securities:

$ 735,828

$ 723,839

$ 11,989

$ -

Income Tax Information

At September 30, 2010, the cost of investment securities for income tax purposes was $666,994,000. Net unrealized appreciation aggregated $68,834,000, of which $106,257,000 related to appreciated investment securities and $37,423,000 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. 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. 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.

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 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, 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 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. 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 fair value and are categorized as Level 2 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, 2010 

1.808770.106

GII-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%

Shares

Value

CONSUMER DISCRETIONARY - 8.8%

Auto Components - 0.5%

Johnson Controls, Inc.

107,500

$ 3,278,750

Hotels, Restaurants & Leisure - 0.5%

Carnival Corp. unit

50,700

1,937,247

Yum! Brands, Inc.

20,300

935,018

 

2,872,265

Internet & Catalog Retail - 0.4%

Amazon.com, Inc. (a)

13,600

2,136,016

Media - 1.6%

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

336,400

5,722,164

Time Warner, Inc.

48,100

1,474,265

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

64,600

2,337,874

 

9,534,303

Multiline Retail - 1.4%

Kohl's Corp. (a)

21,900

1,153,692

Target Corp.

130,000

6,947,200

 

8,100,892

Specialty Retail - 4.4%

Best Buy Co., Inc.

145,200

5,928,516

Home Depot, Inc.

165,700

5,249,376

Lowe's Companies, Inc.

313,700

6,992,373

Staples, Inc.

402,743

8,425,384

 

26,595,649

TOTAL CONSUMER DISCRETIONARY

52,517,875

CONSUMER STAPLES - 8.0%

Beverages - 2.5%

Diageo PLC sponsored ADR

4,100

282,941

PepsiCo, Inc.

130,400

8,663,776

The Coca-Cola Co.

101,400

5,933,928

 

14,880,645

Food & Staples Retailing - 1.3%

CVS Caremark Corp.

66,800

2,102,196

Walgreen Co.

177,100

5,932,850

 

8,035,046

Food Products - 1.0%

Archer Daniels Midland Co.

53,500

1,707,720

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Food Products - continued

Danone

63,617

$ 3,805,516

Nestle SA

11,240

598,925

 

6,112,161

Household Products - 1.3%

Colgate-Palmolive Co.

32,700

2,513,322

Kimberly-Clark Corp.

61,800

4,020,090

Reckitt Benckiser Group PLC

22,000

1,209,977

 

7,743,389

Personal Products - 0.1%

Beiersdorf AG

7,200

440,760

Tobacco - 1.8%

Philip Morris International, Inc.

191,730

10,740,715

TOTAL CONSUMER STAPLES

47,952,716

ENERGY - 13.3%

Energy Equipment & Services - 2.5%

Baker Hughes, Inc.

84,100

3,582,660

Halliburton Co.

96,000

3,174,720

Schlumberger Ltd.

71,703

4,417,622

Weatherford International Ltd. (a)

219,100

3,746,610

 

14,921,612

Oil, Gas & Consumable Fuels - 10.8%

Chesapeake Energy Corp.

18,300

414,495

Chevron Corp.

219,400

17,782,370

Exxon Mobil Corp.

461,271

28,501,935

Hess Corp.

51,400

3,038,768

Marathon Oil Corp.

89,300

2,955,830

Occidental Petroleum Corp.

62,200

4,870,260

Southwestern Energy Co. (a)

56,300

1,882,672

Suncor Energy, Inc.

117,700

3,832,758

Total SA sponsored ADR

23,700

1,222,920

 

64,502,008

TOTAL ENERGY

79,423,620

FINANCIALS - 18.6%

Capital Markets - 1.6%

Bank of New York Mellon Corp.

175,700

4,591,041

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Capital Markets - continued

Charles Schwab Corp.

38,100

$ 529,590

Morgan Stanley

184,400

4,550,992

 

9,671,623

Commercial Banks - 8.0%

Banco Santander SA

66,864

848,749

BB&T Corp.

214,300

5,160,344

Intesa Sanpaolo SpA

92,666

301,007

PNC Financial Services Group, Inc.

84,600

4,391,586

U.S. Bancorp, Delaware

392,700

8,490,174

Wells Fargo & Co.

1,152,353

28,958,630

 

48,150,490

Diversified Financial Services - 8.8%

Bank of America Corp.

1,493,135

19,575,000

Citigroup, Inc. (a)

1,680,600

6,554,340

JPMorgan Chase & Co.

694,600

26,443,422

 

52,572,762

Insurance - 0.2%

Allstate Corp.

38,800

1,224,140

TOTAL FINANCIALS

111,619,015

HEALTH CARE - 11.5%

Biotechnology - 1.6%

Amgen, Inc. (a)

146,690

8,084,086

Gilead Sciences, Inc. (a)

40,300

1,435,083

 

9,519,169

Health Care Providers & Services - 1.8%

McKesson Corp.

65,800

4,065,124

Medco Health Solutions, Inc. (a)

64,900

3,378,694

UnitedHealth Group, Inc.

99,300

3,486,423

 

10,930,241

Pharmaceuticals - 8.1%

Abbott Laboratories

132,400

6,916,576

Johnson & Johnson

202,500

12,546,900

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Merck & Co., Inc.

341,800

$ 12,581,658

Pfizer, Inc.

950,900

16,326,953

 

48,372,087

TOTAL HEALTH CARE

68,821,497

INDUSTRIALS - 9.4%

Aerospace & Defense - 2.5%

Honeywell International, Inc.

210,300

9,240,582

Precision Castparts Corp.

14,100

1,795,635

United Technologies Corp.

54,100

3,853,543

 

14,889,760

Air Freight & Logistics - 1.0%

FedEx Corp.

21,200

1,812,600

United Parcel Service, Inc. Class B

64,100

4,274,829

 

6,087,429

Industrial Conglomerates - 2.1%

3M Co.

22,300

1,933,633

General Electric Co.

479,000

7,783,750

Koninklijke Philips Electronics NV unit

60,700

1,901,124

Tyco International Ltd.

22,900

841,117

 

12,459,624

Machinery - 2.9%

Danaher Corp.

70,600

2,867,066

Deere & Co.

20,500

1,430,490

Ingersoll-Rand Co. Ltd.

257,600

9,198,896

PACCAR, Inc.

83,300

4,010,895

 

17,507,347

Road & Rail - 0.9%

Union Pacific Corp.

62,000

5,071,600

TOTAL INDUSTRIALS

56,015,760

INFORMATION TECHNOLOGY - 25.7%

Communications Equipment - 6.1%

Cisco Systems, Inc. (a)

949,400

20,791,860

Juniper Networks, Inc. (a)

157,600

4,783,160

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Communications Equipment - continued

Motorola, Inc. (a)

74,300

$ 633,779

QUALCOMM, Inc.

233,700

10,544,544

 

36,753,343

Computers & Peripherals - 5.4%

Apple, Inc. (a)

70,300

19,947,625

EMC Corp. (a)

369,300

7,500,483

Hewlett-Packard Co.

120,600

5,073,642

 

32,521,750

Electronic Equipment & Components - 1.0%

Corning, Inc.

323,000

5,904,440

Internet Software & Services - 2.6%

eBay, Inc. (a)

178,700

4,360,280

Google, Inc. Class A (a)

21,250

11,173,038

 

15,533,318

IT Services - 4.7%

Accenture PLC Class A

60,100

2,553,649

International Business Machines Corp.

88,600

11,884,804

MasterCard, Inc. Class A

38,700

8,668,800

Visa, Inc. Class A

67,600

5,019,976

 

28,127,229

Semiconductors & Semiconductor Equipment - 3.6%

Applied Materials, Inc.

117,800

1,375,904

ASML Holding NV

170,300

5,063,019

Broadcom Corp. Class A

44,200

1,564,238

KLA-Tencor Corp.

52,300

1,842,529

Taiwan Semiconductor Manufacturing Co. Ltd.

924,974

1,832,959

Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR

298,500

3,026,790

Texas Instruments, Inc.

243,200

6,600,448

 

21,305,887

Software - 2.3%

Adobe Systems, Inc. (a)

51,000

1,333,650

Autonomy Corp. PLC (a)

214,047

6,096,342

Oracle Corp.

238,900

6,414,465

 

13,844,457

TOTAL INFORMATION TECHNOLOGY

153,990,424

Common Stocks - continued

Shares

Value

MATERIALS - 2.3%

Chemicals - 2.1%

Dow Chemical Co.

146,100

$ 4,011,906

E.I. du Pont de Nemours & Co.

137,518

6,136,053

Monsanto Co.

39,400

1,888,442

The Mosaic Co.

11,200

658,112

 

12,694,513

Metals & Mining - 0.2%

Alcoa, Inc.

25,800

312,438

Nucor Corp.

27,800

1,061,960

 

1,374,398

TOTAL MATERIALS

14,068,911

TELECOMMUNICATION SERVICES - 0.8%

Diversified Telecommunication Services - 0.4%

Verizon Communications, Inc.

75,300

2,454,027

Wireless Telecommunication Services - 0.4%

Sprint Nextel Corp. (a)

389,000

1,801,070

Vodafone Group PLC sponsored ADR

13,800

342,378

 

2,143,448

TOTAL TELECOMMUNICATION SERVICES

4,597,475

UTILITIES - 0.2%

Electric Utilities - 0.1%

PPL Corp.

28,600

778,778

Multi-Utilities - 0.1%

Public Service Enterprise Group, Inc.

17,500

578,900

TOTAL UTILITIES

1,357,678

TOTAL COMMON STOCKS

(Cost $592,422,677)

590,364,971

Nonconvertible Preferred Stocks - 1.2%

Shares

Value

CONSUMER DISCRETIONARY - 1.2%

Automobiles - 1.2%

Porsche Automobil Holding SE

63,900

$ 3,164,680

Volkswagen AG

32,900

3,971,089

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $6,515,978)

7,135,769

TOTAL INVESTMENT PORTFOLIO - 99.8%

(Cost $598,938,655)

597,500,740

NET OTHER ASSETS (LIABILITIES) - 0.2%

950,356

NET ASSETS - 100%

$ 598,451,096

Legend

(a) Non-income producing

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

$ 1,041

Fidelity Securities Lending Cash Central Fund

1,635

Total

$ 2,676

Other Information

The following is a summary of the inputs used, as of September 30, 2010, 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

$ 59,653,644

$ 59,653,644

$ -

$ -

Consumer Staples

47,952,716

47,952,716

-

-

Energy

79,423,620

79,423,620

-

-

Financials

111,619,015

110,770,266

848,749

-

Health Care

68,821,497

68,821,497

-

-

Industrials

56,015,760

56,015,760

-

-

Information Technology

153,990,424

152,157,465

1,832,959

-

Materials

14,068,911

14,068,911

-

-

Telecommunication Services

4,597,475

4,597,475

-

-

Utilities

1,357,678

1,357,678

-

-

Total Investments in Securities:

$ 597,500,740

$ 594,819,032

$ 2,681,708

$ -

Income Tax Information

At September 30, 2010, the cost of investment securities for income tax purposes was $607,602,750. Net unrealized depreciation aggregated $10,102,010, of which $34,856,307 related to appreciated investment securities and $44,958,317 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. 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.

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 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, 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 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. 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 fair value and are categorized as Level 2 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, 2010

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

1.864816.102

AGII-QTLY-1110

Investments September 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%

Shares

Value

CONSUMER DISCRETIONARY - 8.8%

Auto Components - 0.5%

Johnson Controls, Inc.

107,500

$ 3,278,750

Hotels, Restaurants & Leisure - 0.5%

Carnival Corp. unit

50,700

1,937,247

Yum! Brands, Inc.

20,300

935,018

 

2,872,265

Internet & Catalog Retail - 0.4%

Amazon.com, Inc. (a)

13,600

2,136,016

Media - 1.6%

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

336,400

5,722,164

Time Warner, Inc.

48,100

1,474,265

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

64,600

2,337,874

 

9,534,303

Multiline Retail - 1.4%

Kohl's Corp. (a)

21,900

1,153,692

Target Corp.

130,000

6,947,200

 

8,100,892

Specialty Retail - 4.4%

Best Buy Co., Inc.

145,200

5,928,516

Home Depot, Inc.

165,700

5,249,376

Lowe's Companies, Inc.

313,700

6,992,373

Staples, Inc.

402,743

8,425,384

 

26,595,649

TOTAL CONSUMER DISCRETIONARY

52,517,875

CONSUMER STAPLES - 8.0%

Beverages - 2.5%

Diageo PLC sponsored ADR

4,100

282,941

PepsiCo, Inc.

130,400

8,663,776

The Coca-Cola Co.

101,400

5,933,928

 

14,880,645

Food & Staples Retailing - 1.3%

CVS Caremark Corp.

66,800

2,102,196

Walgreen Co.

177,100

5,932,850

 

8,035,046

Food Products - 1.0%

Archer Daniels Midland Co.

53,500

1,707,720

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Food Products - continued

Danone

63,617

$ 3,805,516

Nestle SA

11,240

598,925

 

6,112,161

Household Products - 1.3%

Colgate-Palmolive Co.

32,700

2,513,322

Kimberly-Clark Corp.

61,800

4,020,090

Reckitt Benckiser Group PLC

22,000

1,209,977

 

7,743,389

Personal Products - 0.1%

Beiersdorf AG

7,200

440,760

Tobacco - 1.8%

Philip Morris International, Inc.

191,730

10,740,715

TOTAL CONSUMER STAPLES

47,952,716

ENERGY - 13.3%

Energy Equipment & Services - 2.5%

Baker Hughes, Inc.

84,100

3,582,660

Halliburton Co.

96,000

3,174,720

Schlumberger Ltd.

71,703

4,417,622

Weatherford International Ltd. (a)

219,100

3,746,610

 

14,921,612

Oil, Gas & Consumable Fuels - 10.8%

Chesapeake Energy Corp.

18,300

414,495

Chevron Corp.

219,400

17,782,370

Exxon Mobil Corp.

461,271

28,501,935

Hess Corp.

51,400

3,038,768

Marathon Oil Corp.

89,300

2,955,830

Occidental Petroleum Corp.

62,200

4,870,260

Southwestern Energy Co. (a)

56,300

1,882,672

Suncor Energy, Inc.

117,700

3,832,758

Total SA sponsored ADR

23,700

1,222,920

 

64,502,008

TOTAL ENERGY

79,423,620

FINANCIALS - 18.6%

Capital Markets - 1.6%

Bank of New York Mellon Corp.

175,700

4,591,041

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Capital Markets - continued

Charles Schwab Corp.

38,100

$ 529,590

Morgan Stanley

184,400

4,550,992

 

9,671,623

Commercial Banks - 8.0%

Banco Santander SA

66,864

848,749

BB&T Corp.

214,300

5,160,344

Intesa Sanpaolo SpA

92,666

301,007

PNC Financial Services Group, Inc.

84,600

4,391,586

U.S. Bancorp, Delaware

392,700

8,490,174

Wells Fargo & Co.

1,152,353

28,958,630

 

48,150,490

Diversified Financial Services - 8.8%

Bank of America Corp.

1,493,135

19,575,000

Citigroup, Inc. (a)

1,680,600

6,554,340

JPMorgan Chase & Co.

694,600

26,443,422

 

52,572,762

Insurance - 0.2%

Allstate Corp.

38,800

1,224,140

TOTAL FINANCIALS

111,619,015

HEALTH CARE - 11.5%

Biotechnology - 1.6%

Amgen, Inc. (a)

146,690

8,084,086

Gilead Sciences, Inc. (a)

40,300

1,435,083

 

9,519,169

Health Care Providers & Services - 1.8%

McKesson Corp.

65,800

4,065,124

Medco Health Solutions, Inc. (a)

64,900

3,378,694

UnitedHealth Group, Inc.

99,300

3,486,423

 

10,930,241

Pharmaceuticals - 8.1%

Abbott Laboratories

132,400

6,916,576

Johnson & Johnson

202,500

12,546,900

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Merck & Co., Inc.

341,800

$ 12,581,658

Pfizer, Inc.

950,900

16,326,953

 

48,372,087

TOTAL HEALTH CARE

68,821,497

INDUSTRIALS - 9.4%

Aerospace & Defense - 2.5%

Honeywell International, Inc.

210,300

9,240,582

Precision Castparts Corp.

14,100

1,795,635

United Technologies Corp.

54,100

3,853,543

 

14,889,760

Air Freight & Logistics - 1.0%

FedEx Corp.

21,200

1,812,600

United Parcel Service, Inc. Class B

64,100

4,274,829

 

6,087,429

Industrial Conglomerates - 2.1%

3M Co.

22,300

1,933,633

General Electric Co.

479,000

7,783,750

Koninklijke Philips Electronics NV unit

60,700

1,901,124

Tyco International Ltd.

22,900

841,117

 

12,459,624

Machinery - 2.9%

Danaher Corp.

70,600

2,867,066

Deere & Co.

20,500

1,430,490

Ingersoll-Rand Co. Ltd.

257,600

9,198,896

PACCAR, Inc.

83,300

4,010,895

 

17,507,347

Road & Rail - 0.9%

Union Pacific Corp.

62,000

5,071,600

TOTAL INDUSTRIALS

56,015,760

INFORMATION TECHNOLOGY - 25.7%

Communications Equipment - 6.1%

Cisco Systems, Inc. (a)

949,400

20,791,860

Juniper Networks, Inc. (a)

157,600

4,783,160

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Communications Equipment - continued

Motorola, Inc. (a)

74,300

$ 633,779

QUALCOMM, Inc.

233,700

10,544,544

 

36,753,343

Computers & Peripherals - 5.4%

Apple, Inc. (a)

70,300

19,947,625

EMC Corp. (a)

369,300

7,500,483

Hewlett-Packard Co.

120,600

5,073,642

 

32,521,750

Electronic Equipment & Components - 1.0%

Corning, Inc.

323,000

5,904,440

Internet Software & Services - 2.6%

eBay, Inc. (a)

178,700

4,360,280

Google, Inc. Class A (a)

21,250

11,173,038

 

15,533,318

IT Services - 4.7%

Accenture PLC Class A

60,100

2,553,649

International Business Machines Corp.

88,600

11,884,804

MasterCard, Inc. Class A

38,700

8,668,800

Visa, Inc. Class A

67,600

5,019,976

 

28,127,229

Semiconductors & Semiconductor Equipment - 3.6%

Applied Materials, Inc.

117,800

1,375,904

ASML Holding NV

170,300

5,063,019

Broadcom Corp. Class A

44,200

1,564,238

KLA-Tencor Corp.

52,300

1,842,529

Taiwan Semiconductor Manufacturing Co. Ltd.

924,974

1,832,959

Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR

298,500

3,026,790

Texas Instruments, Inc.

243,200

6,600,448

 

21,305,887

Software - 2.3%

Adobe Systems, Inc. (a)

51,000

1,333,650

Autonomy Corp. PLC (a)

214,047

6,096,342

Oracle Corp.

238,900

6,414,465

 

13,844,457

TOTAL INFORMATION TECHNOLOGY

153,990,424

Common Stocks - continued

Shares

Value

MATERIALS - 2.3%

Chemicals - 2.1%

Dow Chemical Co.

146,100

$ 4,011,906

E.I. du Pont de Nemours & Co.

137,518

6,136,053

Monsanto Co.

39,400

1,888,442

The Mosaic Co.

11,200

658,112

 

12,694,513

Metals & Mining - 0.2%

Alcoa, Inc.

25,800

312,438

Nucor Corp.

27,800

1,061,960

 

1,374,398

TOTAL MATERIALS

14,068,911

TELECOMMUNICATION SERVICES - 0.8%

Diversified Telecommunication Services - 0.4%

Verizon Communications, Inc.

75,300

2,454,027

Wireless Telecommunication Services - 0.4%

Sprint Nextel Corp. (a)

389,000

1,801,070

Vodafone Group PLC sponsored ADR

13,800

342,378

 

2,143,448

TOTAL TELECOMMUNICATION SERVICES

4,597,475

UTILITIES - 0.2%

Electric Utilities - 0.1%

PPL Corp.

28,600

778,778

Multi-Utilities - 0.1%

Public Service Enterprise Group, Inc.

17,500

578,900

TOTAL UTILITIES

1,357,678

TOTAL COMMON STOCKS

(Cost $592,422,677)

590,364,971

Nonconvertible Preferred Stocks - 1.2%

Shares

Value

CONSUMER DISCRETIONARY - 1.2%

Automobiles - 1.2%

Porsche Automobil Holding SE

63,900

$ 3,164,680

Volkswagen AG

32,900

3,971,089

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $6,515,978)

7,135,769

TOTAL INVESTMENT PORTFOLIO - 99.8%

(Cost $598,938,655)

597,500,740

NET OTHER ASSETS (LIABILITIES) - 0.2%

950,356

NET ASSETS - 100%

$ 598,451,096

Legend

(a) Non-income producing

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

$ 1,041

Fidelity Securities Lending Cash Central Fund

1,635

Total

$ 2,676

Other Information

The following is a summary of the inputs used, as of September 30, 2010, 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

$ 59,653,644

$ 59,653,644

$ -

$ -

Consumer Staples

47,952,716

47,952,716

-

-

Energy

79,423,620

79,423,620

-

-

Financials

111,619,015

110,770,266

848,749

-

Health Care

68,821,497

68,821,497

-

-

Industrials

56,015,760

56,015,760

-

-

Information Technology

153,990,424

152,157,465

1,832,959

-

Materials

14,068,911

14,068,911

-

-

Telecommunication Services

4,597,475

4,597,475

-

-

Utilities

1,357,678

1,357,678

-

-

Total Investments in Securities:

$ 597,500,740

$ 594,819,032

$ 2,681,708

$ -

Income Tax Information

At September 30, 2010, the cost of investment securities for income tax purposes was $607,602,750. Net unrealized depreciation aggregated $10,102,010, of which $34,856,307 related to appreciated investment securities and $44,958,317 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. 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.

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 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, 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 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. 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 fair value and are categorized as Level 2 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

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, 2010

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, 2010

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 29, 2010

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, 2010

/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, 2010

/s/Christine Reynolds

Christine Reynolds

Chief Financial Officer

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