N-Q 1 filing906.htm PRIMARY DOCUMENT

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)


245 Summer St., Boston, Massachusetts  02210

 (Address of principal executive offices)       (Zip code)


Marc Bryant, Secretary

245 Summer St.

Boston, Massachusetts  02210

(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, 2017


Item 1.

Schedule of Investments





Quarterly Holdings Report
for

Fidelity® Series Growth & Income Fund

September 30, 2017







MHT-QTLY-1117
1.951037.104





Investments September 30, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%   
 Shares Value 
CONSUMER DISCRETIONARY - 5.3%   
Auto Components - 0.1%   
Gentex Corp. 485,800 $9,618,840 
Hotels, Restaurants & Leisure - 0.2%   
Cedar Fair LP (depositary unit) 57,800 3,706,136 
DineEquity, Inc. 187,602 8,063,134 
Dunkin' Brands Group, Inc. 124,100 6,587,228 
Marriott International, Inc. Class A 38,700 4,267,062 
  22,623,560 
Media - 3.0%   
Comcast Corp. Class A 6,536,300 251,516,824 
Interpublic Group of Companies, Inc. 1,219,300 25,349,247 
Omnicom Group, Inc. 155,900 11,547,513 
The Walt Disney Co. 419,200 41,320,544 
Time Warner, Inc. (a) 442,777 45,362,504 
Viacom, Inc. Class B (non-vtg.) 460,700 12,825,888 
  387,922,520 
Multiline Retail - 0.4%   
Dollar General Corp. 274,700 22,264,435 
Target Corp. 584,375 34,483,969 
  56,748,404 
Specialty Retail - 1.6%   
L Brands, Inc. 1,220,700 50,793,327 
Lowe's Companies, Inc. (a) 1,326,900 106,072,386 
Ross Stores, Inc. 196,400 12,681,548 
TJX Companies, Inc. 551,700 40,676,841 
  210,224,102 
Textiles, Apparel & Luxury Goods - 0.0%   
VF Corp. 107,600 6,840,132 
TOTAL CONSUMER DISCRETIONARY  693,977,558 
CONSUMER STAPLES - 7.5%   
Beverages - 2.2%   
Coca-Cola European Partners PLC 237,900 9,901,398 
Dr. Pepper Snapple Group, Inc. 366,700 32,441,949 
Molson Coors Brewing Co. Class B 852,400 69,589,936 
The Coca-Cola Co. 3,977,818 179,041,588 
  290,974,871 
Food & Staples Retailing - 1.8%   
Costco Wholesale Corp. 46,000 7,557,340 
CVS Health Corp. 1,164,120 94,666,238 
Kroger Co. 2,330,500 46,749,830 
Wal-Mart Stores, Inc. 1,092,200 85,344,508 
  234,317,916 
Food Products - 0.5%   
B&G Foods, Inc. Class A 413,300 13,163,605 
Campbell Soup Co. 121,800 5,702,676 
General Mills, Inc. 74,400 3,850,944 
Kellogg Co. 97,600 6,087,312 
Snyders-Lance, Inc. 156,100 5,953,654 
The J.M. Smucker Co. 212,100 22,255,653 
  57,013,844 
Household Products - 1.6%   
Procter & Gamble Co.(a) 2,252,300 204,914,254 
Personal Products - 0.5%   
Coty, Inc. Class A 1,345,900 22,247,727 
Unilever NV (NY Reg.) 809,000 47,763,360 
  70,011,087 
Tobacco - 0.9%   
Altria Group, Inc. 1,259,400 79,871,148 
British American Tobacco PLC sponsored ADR 585,300 36,551,985 
  116,423,133 
TOTAL CONSUMER STAPLES  973,655,105 
ENERGY - 13.0%   
Energy Equipment & Services - 1.0%   
Baker Hughes, a GE Co. Class A 580,900 21,272,558 
Nabors Industries Ltd. 808,900 6,527,823 
National Oilwell Varco, Inc. 1,028,700 36,755,451 
Oceaneering International, Inc. 1,095,530 28,779,573 
Schlumberger Ltd. 595,807 41,563,496 
  134,898,901 
Oil, Gas & Consumable Fuels - 12.0%   
Amyris, Inc. (b)(c) 509,579 1,630,653 
Anadarko Petroleum Corp. 509,300 24,879,305 
Apache Corp. 2,274,441 104,169,398 
Cabot Oil & Gas Corp. 2,138,800 57,212,900 
Cenovus Energy, Inc. 8,529,800 85,520,175 
Chevron Corp. 2,058,935 241,924,863 
ConocoPhillips Co. 5,090,080 254,758,504 
Golar LNG Ltd. 976,574 22,080,338 
Imperial Oil Ltd. 2,318,600 74,068,841 
Kinder Morgan, Inc. 5,557,100 106,585,178 
Legacy Reserves LP (b) 2,006,600 3,050,032 
Phillips 66 Co. 134,700 12,339,867 
Plains All American Pipeline LP 337,000 7,141,030 
PrairieSky Royalty Ltd. 54,618 1,397,678 
Suncor Energy, Inc. 6,762,600 237,009,415 
Teekay LNG Partners LP 692,700 12,330,060 
The Williams Companies, Inc. 6,564,557 197,002,356 
Valero Energy Corp. 212,400 16,339,932 
Williams Partners LP 2,580,191 100,369,430 
  1,559,809,955 
TOTAL ENERGY  1,694,708,856 
FINANCIALS - 23.1%   
Banks - 15.2%   
Bank of America Corp. (a) 17,873,105 452,904,481 
Citigroup, Inc. (a) 5,413,378 393,769,116 
Cullen/Frost Bankers, Inc. 29,000 2,752,680 
JPMorgan Chase & Co. (a) 4,242,649 405,215,406 
M&T Bank Corp. 80,690 12,994,318 
PNC Financial Services Group, Inc. (a) 836,224 112,697,908 
Regions Financial Corp. (a) 4,044,700 61,600,781 
SunTrust Banks, Inc. 2,801,500 167,445,655 
U.S. Bancorp 2,488,239 133,344,728 
Wells Fargo & Co. 4,457,299 245,820,040 
  1,988,545,113 
Capital Markets - 7.2%   
Apollo Global Management LLC Class A 1,081,900 32,565,190 
CBOE Holdings, Inc. (a) 311,100 33,483,693 
Charles Schwab Corp. (a) 1,867,981 81,705,489 
Goldman Sachs Group, Inc. 205,700 48,789,983 
KKR & Co. LP 3,701,911 75,259,851 
Morgan Stanley (a) 2,272,300 109,456,691 
Northern Trust Corp. 1,529,051 140,565,658 
Oaktree Capital Group LLC Class A 372,500 17,526,125 
S&P Global, Inc. 352,100 55,036,751 
State Street Corp. (a) 2,548,451 243,479,009 
TD Ameritrade Holding Corp. 97,300 4,748,240 
The Blackstone Group LP 2,710,500 90,449,385 
  933,066,065 
Insurance - 0.5%   
Marsh & McLennan Companies, Inc. 565,907 47,428,666 
MetLife, Inc. 383,900 19,943,605 
  67,372,271 
Thrifts & Mortgage Finance - 0.2%   
Radian Group, Inc. 1,320,364 24,677,603 
TOTAL FINANCIALS  3,013,661,052 
HEALTH CARE - 13.9%   
Biotechnology - 3.2%   
Alexion Pharmaceuticals, Inc. (b) 503,900 70,692,131 
Amgen, Inc. 1,189,019 221,692,593 
Biogen, Inc. (b) 114,200 35,758,304 
Gilead Sciences, Inc. 666,920 54,033,858 
Intercept Pharmaceuticals, Inc. (b) 115,123 6,681,739 
Shire PLC sponsored ADR 181,900 27,856,166 
  416,714,791 
Health Care Equipment & Supplies - 2.2%   
Becton, Dickinson & Co. 33,700 6,603,515 
Boston Scientific Corp. (b) 973,900 28,408,663 
Danaher Corp. 602,800 51,708,184 
Fisher & Paykel Healthcare Corp. 695,247 6,417,821 
Medtronic PLC 1,486,236 115,584,574 
Meridian Bioscience, Inc. 153,537 2,195,579 
ResMed, Inc. 200,500 15,430,480 
Steris PLC 107,000 9,458,800 
Zimmer Biomet Holdings, Inc. 392,800 45,992,952 
  281,800,568 
Health Care Providers & Services - 3.2%   
Aetna, Inc. 128,400 20,416,884 
Anthem, Inc. 378,200 71,812,616 
Cardinal Health, Inc. 751,400 50,283,688 
Cigna Corp. 387,800 72,495,332 
Fresenius Medical Care AG & Co. KGaA sponsored ADR 308,200 15,067,898 
Humana, Inc. 172,300 41,977,449 
McKesson Corp. 490,647 75,368,286 
Patterson Companies, Inc. 535,738 20,706,274 
UnitedHealth Group, Inc. 237,900 46,592,715 
  414,721,142 
Life Sciences Tools & Services - 0.1%   
Agilent Technologies, Inc. 172,500 11,074,500 
Pharmaceuticals - 5.2%   
Allergan PLC 158,500 32,484,575 
AstraZeneca PLC sponsored ADR 1,099,400 37,247,672 
Bayer AG 223,600 30,544,507 
Bristol-Myers Squibb Co. (a) 1,042,800 66,468,072 
Eisai Co. Ltd. 24,700 1,267,871 
GlaxoSmithKline PLC sponsored ADR 4,837,600 196,406,560 
Innoviva, Inc. (b) 421,900 5,957,228 
Johnson & Johnson (a) 1,631,670 212,133,417 
Novartis AG sponsored ADR 76,230 6,544,346 
Sanofi SA 418,461 41,656,402 
Teva Pharmaceutical Industries Ltd. sponsored ADR 3,144,084 55,335,878 
  686,046,528 
TOTAL HEALTH CARE  1,810,357,529 
INDUSTRIALS - 12.0%   
Aerospace & Defense - 2.3%   
General Dynamics Corp. 170,500 35,051,390 
Meggitt PLC 374,173 2,612,251 
Rolls-Royce Holdings PLC 2,382,200 28,334,541 
The Boeing Co. (a) 198,641 50,496,529 
United Technologies Corp. 1,530,200 177,625,616 
  294,120,327 
Air Freight & Logistics - 1.7%   
C.H. Robinson Worldwide, Inc. 797,300 60,674,530 
Expeditors International of Washington, Inc. 526,800 31,534,248 
United Parcel Service, Inc. Class B 1,124,045 134,986,564 
  227,195,342 
Commercial Services & Supplies - 0.1%   
KAR Auction Services, Inc. 193,500 9,237,690 
Ritchie Brothers Auctioneers, Inc. 320,100 10,120,573 
  19,358,263 
Construction & Engineering - 0.1%   
Fluor Corp. 186,000 7,830,600 
Electrical Equipment - 0.6%   
Acuity Brands, Inc. 118,600 20,313,808 
AMETEK, Inc. 375,600 24,804,624 
Hubbell, Inc. Class B 312,603 36,268,200 
  81,386,632 
Industrial Conglomerates - 2.2%   
General Electric Co. 11,700,956 282,929,116 
Machinery - 0.9%   
Donaldson Co., Inc. 354,400 16,281,136 
Flowserve Corp. 1,262,600 53,774,134 
Snap-On, Inc. 136,400 20,324,964 
Wabtec Corp. (c) 368,100 27,883,575 
Zardoya Otis SA 16,919 187,168 
  118,450,977 
Professional Services - 0.4%   
Intertrust NV 760,700 12,353,240 
Nielsen Holdings PLC 857,500 35,543,375 
  47,896,615 
Road & Rail - 2.9%   
CSX Corp. (a) 2,395,608 129,985,690 
J.B. Hunt Transport Services, Inc. (a) 1,000,393 111,123,654 
Norfolk Southern Corp. 469,334 62,064,728 
Union Pacific Corp. 646,600 74,986,202 
  378,160,274 
Trading Companies & Distributors - 0.8%   
Brenntag AG 46,800 2,606,068 
Bunzl PLC 85,500 2,597,302 
Fastenal Co. 760,700 34,672,706 
Howden Joinery Group PLC 394,000 2,275,508 
MSC Industrial Direct Co., Inc. Class A 120,900 9,136,413 
W.W. Grainger, Inc. (c) 16,800 3,019,800 
Watsco, Inc. 336,707 54,233,396 
  108,541,193 
TOTAL INDUSTRIALS  1,565,869,339 
INFORMATION TECHNOLOGY - 17.6%   
Communications Equipment - 1.5%   
Cisco Systems, Inc. (a) 5,920,533 199,107,525 
Electronic Equipment & Components - 0.1%   
Avnet, Inc. 200,400 7,875,720 
Philips Lighting NV 196,000 7,910,929 
  15,786,649 
Internet Software & Services - 3.4%   
Alphabet, Inc.:   
Class A (b) 251,209 244,607,227 
Class C (b) 200,465 192,267,986 
  436,875,213 
IT Services - 3.7%   
Accenture PLC Class A 248,200 33,524,374 
Amdocs Ltd. 248,700 15,996,384 
Cognizant Technology Solutions Corp. Class A 110,700 8,030,178 
MasterCard, Inc. Class A (a) 749,500 105,829,400 
Paychex, Inc. 2,254,841 135,200,266 
Unisys Corp. (b)(c) 1,758,617 14,948,245 
Visa, Inc. Class A 1,664,500 175,171,980 
  488,700,827 
Semiconductors & Semiconductor Equipment - 1.7%   
Maxim Integrated Products, Inc. 304,200 14,513,382 
Qualcomm, Inc. 3,809,000 197,458,560 
United Microelectronics Corp. sponsored ADR 1,286,700 3,216,750 
Xilinx, Inc. 128,700 9,115,821 
  224,304,513 
Software - 4.5%   
Micro Focus International PLC 797,072 25,494,985 
Microsoft Corp. (a) 6,337,517 472,081,641 
Oracle Corp. 1,043,269 50,442,056 
SAP SE sponsored ADR 362,700 39,770,055 
  587,788,737 
Technology Hardware, Storage & Peripherals - 2.7%   
Apple, Inc. (a) 2,255,460 347,611,495 
TOTAL INFORMATION TECHNOLOGY  2,300,174,959 
MATERIALS - 3.1%   
Chemicals - 2.5%   
CF Industries Holdings, Inc. 1,056,100 37,132,476 
DowDuPont, Inc. 429,885 29,760,939 
LyondellBasell Industries NV Class A 755,600 74,842,180 
Monsanto Co. 717,621 85,985,348 
Potash Corp. of Saskatchewan, Inc. 3,294,400 63,419,345 
PPG Industries, Inc. 48,400 5,259,144 
The Scotts Miracle-Gro Co. Class A 70,100 6,823,534 
W.R. Grace & Co. 398,000 28,715,700 
  331,938,666 
Containers & Packaging - 0.5%   
Ball Corp. 832,200 34,369,860 
Graphic Packaging Holding Co. 98,500 1,374,075 
WestRock Co. 532,500 30,208,725 
  65,952,660 
Metals & Mining - 0.1%   
Reliance Steel & Aluminum Co. 102,400 7,799,808 
TOTAL MATERIALS  405,691,134 
REAL ESTATE - 1.1%   
Equity Real Estate Investment Trusts (REITs) - 1.1%   
American Tower Corp. 152,200 20,802,696 
CoreSite Realty Corp. 52,700 5,897,130 
Crown Castle International Corp. 481,100 48,100,378 
First Potomac Realty Trust 516,231 5,750,813 
Omega Healthcare Investors, Inc. (c) 223,500 7,131,885 
Public Storage 152,200 32,569,278 
Sabra Health Care REIT, Inc. 491,900 10,792,286 
Spirit Realty Capital, Inc. 1,334,400 11,435,808 
  142,480,274 
TELECOMMUNICATION SERVICES - 1.2%   
Diversified Telecommunication Services - 1.2%   
Verizon Communications, Inc. 3,039,423 150,421,044 
UTILITIES - 1.1%   
Electric Utilities - 1.0%   
Exelon Corp. 3,099,900 116,773,233 
PPL Corp. 368,900 13,999,755 
Southern Co. 77,900 3,828,006 
  134,600,994 
Multi-Utilities - 0.1%   
Public Service Enterprise Group, Inc. 233,300 10,790,125 
TOTAL UTILITIES  145,391,119 
TOTAL COMMON STOCKS   
(Cost $10,665,892,426)  12,896,387,969 
Preferred Stocks - 0.3%   
Convertible Preferred Stocks - 0.3%   
HEALTH CARE - 0.2%   
Health Care Equipment & Supplies - 0.2%   
Becton, Dickinson & Co. Series A 6.125% 362,200 19,902,890 
INDUSTRIALS - 0.1%   
Commercial Services & Supplies - 0.1%   
Stericycle, Inc. 2.25% 209,999 12,127,442 
UTILITIES - 0.0%   
Independent Power and Renewable Electricity Producers - 0.0%   
Dynegy, Inc. 7.00% 85,300 5,821,725 
TOTAL CONVERTIBLE PREFERRED STOCKS  37,852,057 
Nonconvertible Preferred Stocks - 0.0%   
INDUSTRIALS - 0.0%   
Aerospace & Defense - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (b) 356,628,700 477,882 
TOTAL PREFERRED STOCKS   
(Cost $42,560,798)  38,329,939 
 Principal Amount(d) Value 
Convertible Bonds - 0.1%   
HEALTH CARE - 0.1%   
Pharmaceuticals - 0.1%   
Bayer Capital Corp. BV 5.625% 11/22/19(e) EUR  
(Cost $11,711,431) EUR 10,600,000 15,292,599 
 Shares Value 
Other - 0.2%   
ENERGY – 0.2%   
Oil, Gas & Consumable Fuels - 0.2%   
Utica Shale Drilling Program (non-operating revenue interest) (f)(g)(h)   
(Cost $25,755,177) 25,755,177 19,831,486 
Money Market Funds - 0.6%   
Fidelity Cash Central Fund, 1.09% (i) 66,651,904 66,665,235 
Fidelity Securities Lending Cash Central Fund 1.10% (i)(j) 18,273,755 18,277,410 
TOTAL MONEY MARKET FUNDS   
(Cost $84,940,760)  84,942,645 
TOTAL INVESTMENT IN SECURITIES - 100.1%   
(Cost $10,830,860,592)  13,054,784,638 
NET OTHER ASSETS (LIABILITIES) - (0.1)%  (8,912,442) 
NET ASSETS - 100%  $13,045,872,196 

Written Options       
 Counterparty Number of Contracts Notional Amount Exercise Price Expiration Date Value 
Call Options       
Apple, Inc. Chicago Board Options Exchange 1,189 $18,324,868 $170.00 10/20/17 $(8,918) 
Bank of America Corp. Chicago Board Options Exchange 17,901 45,361,134 27.00 11/17/17 (447,525) 
Bank of America Corp. Chicago Board Options Exchange 17,917 45,401,678 28.00 12/15/17 (376,257) 
Bristol-Myers Squibb Co. Chicago Board Options Exchange 2,510 15,998,740 65.00 10/20/17 (158,130) 
CBOE Holdings, Inc. Chicago Board Options Exchange 2,726 29,339,938 110.00 12/15/17 (626,980) 
Charles Schwab Corp. Chicago Board Options Exchange 2,784 12,177,216 46.00 12/15/17 (229,680) 
Cisco Systems, Inc. Chicago Board Options Exchange 5,926 19,929,138 33.00 10/20/17 (405,931) 
Citigroup, Inc. Chicago Board Options Exchange 5,409 39,345,066 77.50 12/15/17 (454,356) 
CSX Corp. Chicago Board Options Exchange 3,552 19,273,152 55.00 11/17/17 (650,016) 
J.B. Hunt Transport Services, Inc. Chicago Board Options Exchange 492 5,465,136 110.00 11/17/17 (189,420) 
J.B. Hunt Transport Services, Inc. Chicago Board Options Exchange 983 10,919,164 115.00 11/17/17 (159,738) 
Johnson & Johnson Chicago Board Options Exchange 1,638 21,295,638 135.00 12/15/17 (188,370) 
JPMorgan Chase & Co. Chicago Board Options Exchange 2,074 19,808,774 97.50 11/17/17 (247,843) 
JPMorgan Chase & Co. Chicago Board Options Exchange 2,074 19,808,774 100.00 12/15/17 (218,807) 
Lowe's Companies, Inc. Chicago Board Options Exchange 1,958 15,652,252 82.50 10/20/17 (64,614) 
Lowe's Companies, Inc. Chicago Board Options Exchange 1,958 15,652,252 85.00 1/19/18 (276,078) 
MasterCard, Inc. Class A Chicago Board Options Exchange 757 10,688,840 135.00 10/20/17 (501,513) 
MasterCard, Inc. Class A Chicago Board Options Exchange 1,528 21,575,360 145.00 11/17/17 (309,420) 
MasterCard, Inc. Class A Chicago Board Options Exchange 765 10,801,800 150.00 1/19/18 (153,765) 
Microsoft Corp. Chicago Board Options Exchange 6,317 47,055,333 77.50 11/17/17 (530,628) 
Morgan Stanley Chicago Board Options Exchange 2,239 10,785,263 50.00 12/15/17 (254,127) 
PNC Financial Services Group, Inc. Chicago Board Options Exchange 378 5,094,306 135.00 11/17/17 (121,905) 
Procter & Gamble Co. Chicago Board Options Exchange 2,218 20,179,364 95.00 10/20/17 (24,398) 
Regions Financial Corp. Chicago Board Options Exchange 6,032 9,186,736 16.00 11/17/17 (141,752) 
State Street Corp. Chicago Board Options Exchange 4,207 40,193,678 97.50 11/17/17 (759,364) 
The Boeing Co. Chicago Board Options Exchange 383 9,736,243 260.00 11/17/17 (189,585) 
Time Warner, Inc. Chicago Board Options Exchange 1,417 14,517,165 105.00 10/20/17 (57,389) 
Watsco, Inc. Morgan Stanley & Co. Intl Plc 658 10,598,406 165.00 11/17/17 (138,967) 
TOTAL WRITTEN OPTIONS      $(7,885,476) 

Currency Abbreviations

EUR – European Monetary Unit

Legend

 (a) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $553,567,008.

 (b) Non-income producing

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

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

 (e) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $15,292,599 or 0.1% of net assets.

 (f) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (g) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $19,831,486 or 0.2% of net assets.

 (h) Level 3 security

 (i) Affiliated fund that is generally 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
Utica Shale Drilling Program (non-operating revenue interest) 10/5/16 - 9/1/17 $25,755,177 

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 $268,056 
Fidelity Securities Lending Cash Central Fund 78,104 
Total $346,160 

Investment Valuation

The following is a summary of the inputs used, as of September 30, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $693,977,558 $693,977,558 $-- $-- 
Consumer Staples 973,655,105 973,655,105 -- -- 
Energy 1,694,708,856 1,694,708,856 -- -- 
Financials 3,013,661,052 3,013,661,052 -- -- 
Health Care 1,830,260,419 1,738,156,620 92,103,799 -- 
Industrials 1,578,474,663 1,538,012,680 40,461,983 -- 
Information Technology 2,300,174,959 2,300,174,959 -- -- 
Materials 405,691,134 405,691,134 -- -- 
Real Estate 142,480,274 142,480,274 -- -- 
Telecommunication Services 150,421,044 150,421,044 -- -- 
Utilities 151,212,844 145,391,119 5,821,725 -- 
Corporate Bonds 15,292,599 -- 15,292,599 -- 
Other 19,831,486 -- -- 19,831,486 
Money Market Funds 84,942,645 84,942,645 -- -- 
Total Investments in Securities: $13,054,784,638 $12,881,273,046 $153,680,106 $19,831,486 
Derivative Instruments:     
Liabilities     
Written Options $(7,885,476) $(7,746,509) $(138,967) $-- 
Total Liabilities $(7,885,476) $(7,746,509) $(138,967) $-- 
Total Derivative Instruments: $(7,885,476) $(7,746,509) $(138,967) $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy. Options traded over-the-counter are valued using vendor or broker-supplied valuations and are categorized as Level 2 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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 Holdings Report
for

Fidelity® Mega Cap Stock Fund

September 30, 2017







GII-QTLY-1117
1.808770.113





Investments September 30, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
CONSUMER DISCRETIONARY - 6.1%   
Automobiles - 0.3%   
General Motors Co. 181,500 $7,328,970 
Media - 3.8%   
Comcast Corp. Class A 1,268,700 48,819,576 
The Walt Disney Co. 183,600 18,097,452 
Time Warner, Inc. (a) 135,695 13,901,953 
Viacom, Inc. Class B (non-vtg.) 92,500 2,575,200 
  83,394,181 
Multiline Retail - 0.4%   
Target Corp. 143,000 8,438,430 
Specialty Retail - 1.6%   
Lowe's Companies, Inc. (a) 344,900 27,571,306 
TJX Companies, Inc. 82,000 6,045,860 
  33,617,166 
TOTAL CONSUMER DISCRETIONARY  132,778,747 
CONSUMER STAPLES - 7.5%   
Beverages - 2.1%   
PepsiCo, Inc. 98,105 10,931,840 
The Coca-Cola Co. 752,000 33,847,520 
  44,779,360 
Food & Staples Retailing - 2.1%   
Costco Wholesale Corp. 20,300 3,335,087 
CVS Health Corp. 237,700 19,329,764 
Kroger Co. 219,200 4,397,152 
Wal-Mart Stores, Inc. 230,200 17,987,828 
  45,049,831 
Food Products - 0.0%   
General Mills, Inc. 8,300 429,608 
Household Products - 2.1%   
Procter & Gamble Co. (a) 512,300 46,609,054 
Personal Products - 0.4%   
Estee Lauder Companies, Inc. Class A 16,000 1,725,440 
Unilever NV (NY Reg.) 105,100 6,205,104 
  7,930,544 
Tobacco - 0.8%   
Altria Group, Inc. 222,800 14,129,976 
British American Tobacco PLC sponsored ADR 57,500 3,590,875 
  17,720,851 
TOTAL CONSUMER STAPLES  162,519,248 
ENERGY - 12.3%   
Energy Equipment & Services - 0.7%   
Baker Hughes, a GE Co. Class A 49,000 1,794,380 
Schlumberger Ltd. 199,100 13,889,216 
  15,683,596 
Oil, Gas & Consumable Fuels - 11.6%   
Anadarko Petroleum Corp. 207,500 10,136,375 
Apache Corp. 381,505 17,472,929 
Chevron Corp. 491,500 57,751,250 
ConocoPhillips Co. 996,000 49,849,800 
Exxon Mobil Corp. 43,300 3,549,734 
Imperial Oil Ltd. 409,100 13,068,905 
Kinder Morgan, Inc. 1,099,900 21,096,082 
Phillips 66 Co. 34,600 3,169,706 
Suncor Energy, Inc. 1,152,900 40,405,784 
The Williams Companies, Inc. 1,119,200 33,587,192 
Valero Energy Corp. 39,300 3,023,349 
  253,111,106 
TOTAL ENERGY  268,794,702 
FINANCIALS - 22.0%   
Banks - 16.8%   
Bank of America Corp. (a) 3,598,500 91,185,990 
Citigroup, Inc. (a) 1,085,670 78,971,636 
JPMorgan Chase & Co. (a) 908,600 86,780,386 
PNC Financial Services Group, Inc. (a) 196,200 26,441,874 
U.S. Bancorp 614,200 32,914,978 
Wells Fargo & Co. 912,130 50,303,970 
  366,598,834 
Capital Markets - 4.6%   
Charles Schwab Corp. (a) 336,500 14,718,510 
Goldman Sachs Group, Inc. 76,400 18,121,316 
Morgan Stanley (a) 543,000 26,156,310 
State Street Corp. (a) 426,200 40,719,148 
  99,715,284 
Insurance - 0.6%   
Marsh & McLennan Companies, Inc. 118,680 9,946,571 
MetLife, Inc. 51,300 2,665,035 
  12,611,606 
TOTAL FINANCIALS  478,925,724 
HEALTH CARE - 15.6%   
Biotechnology - 4.2%   
Alexion Pharmaceuticals, Inc. (b) 101,600 14,253,464 
Amgen, Inc. 210,290 39,208,571 
Biogen, Inc. (b) 35,500 11,115,760 
Gilead Sciences, Inc. 149,910 12,145,708 
Intercept Pharmaceuticals, Inc. (b) 19,000 1,102,760 
Regeneron Pharmaceuticals, Inc. (b) 15,200 6,796,224 
Vertex Pharmaceuticals, Inc. (b) 47,400 7,206,696 
  91,829,183 
Health Care Equipment & Supplies - 1.7%   
Becton, Dickinson & Co. 8,900 1,743,955 
Boston Scientific Corp. (b) 341,700 9,967,389 
Danaher Corp. 51,100 4,383,358 
Medtronic PLC 259,413 20,174,549 
  36,269,251 
Health Care Providers & Services - 3.3%   
Aetna, Inc. 14,200 2,257,942 
Anthem, Inc. 66,600 12,646,008 
Cardinal Health, Inc. 55,300 3,700,676 
Cigna Corp. 60,000 11,216,400 
Express Scripts Holding Co. (b) 84,662 5,360,798 
Humana, Inc. 34,700 8,453,961 
McKesson Corp. 106,500 16,359,465 
UnitedHealth Group, Inc. 55,900 10,948,015 
  70,943,265 
Pharmaceuticals - 6.4%   
Allergan PLC 51,900 10,636,905 
AstraZeneca PLC sponsored ADR 186,400 6,315,232 
Bayer AG 21,900 2,991,613 
Bristol-Myers Squibb Co. (a) 236,650 15,084,071 
GlaxoSmithKline PLC sponsored ADR 826,700 33,564,020 
Johnson & Johnson (a) 403,800 52,498,038 
Novartis AG sponsored ADR 44,400 3,811,740 
Sanofi SA 75,868 7,552,407 
Teva Pharmaceutical Industries Ltd. sponsored ADR 450,200 7,923,520 
  140,377,546 
TOTAL HEALTH CARE  339,419,245 
INDUSTRIALS - 9.4%   
Aerospace & Defense - 2.4%   
General Dynamics Corp. 15,800 3,248,164 
The Boeing Co. (a) 56,200 14,286,602 
United Technologies Corp. 304,700 35,369,576 
  52,904,342 
Air Freight & Logistics - 1.6%   
FedEx Corp. 40,800 9,203,664 
United Parcel Service, Inc. Class B 220,900 26,527,881 
  35,731,545 
Industrial Conglomerates - 2.6%   
General Electric Co. 2,344,200 56,682,756 
Road & Rail - 2.8%   
CSX Corp. (a) 385,000 20,890,100 
Norfolk Southern Corp. 103,800 13,726,512 
Union Pacific Corp. 216,290 25,083,151 
  59,699,763 
TOTAL INDUSTRIALS  205,018,406 
INFORMATION TECHNOLOGY - 21.8%   
Communications Equipment - 1.8%   
Cisco Systems, Inc.(a) 1,189,600 40,006,248 
Internet Software & Services - 4.9%   
Alphabet, Inc.:   
Class A (b) 50,350 49,026,802 
Class C (b) 46,426 44,527,641 
Facebook, Inc. Class A (b) 71,300 12,183,031 
  105,737,474 
IT Services - 3.8%   
Accenture PLC Class A 32,900 4,443,803 
Cognizant Technology Solutions Corp. Class A 125,000 9,067,500 
MasterCard, Inc. Class A (a) 169,900 23,989,880 
PayPal Holdings, Inc. (b) 93,800 6,006,014 
Visa, Inc. Class A 375,500 39,517,620 
  83,024,817 
Semiconductors & Semiconductor Equipment - 1.6%   
Qualcomm, Inc. 690,400 35,790,336 
Software - 6.0%   
Adobe Systems, Inc. (b) 90,100 13,441,118 
Microsoft Corp. (a) 1,245,300 92,762,397 
Oracle Corp. 351,400 16,990,190 
Salesforce.com, Inc. (b) 16,700 1,560,114 
SAP SE sponsored ADR 43,900 4,813,635 
  129,567,454 
Technology Hardware, Storage & Peripherals - 3.7%   
Apple, Inc. (a) 523,807 80,729,135 
TOTAL INFORMATION TECHNOLOGY  474,855,464 
MATERIALS - 2.2%   
Chemicals - 2.2%   
DowDuPont, Inc. 173,967 12,043,735 
LyondellBasell Industries NV Class A 143,400 14,203,770 
Monsanto Co. 165,110 19,783,480 
PPG Industries, Inc. 17,900 1,945,014 
  47,975,999 
REAL ESTATE - 0.4%   
Equity Real Estate Investment Trusts (REITs) - 0.4%   
American Tower Corp. 32,800 4,483,104 
Crown Castle International Corp. 19,900 1,989,602 
Public Storage 12,800 2,739,072 
  9,211,778 
TELECOMMUNICATION SERVICES - 1.5%   
Diversified Telecommunication Services - 1.5%   
Verizon Communications, Inc. 642,625 31,803,511 
UTILITIES - 0.8%   
Electric Utilities - 0.8%   
Exelon Corp. 440,700 16,601,169 
TOTAL COMMON STOCKS   
(Cost $1,377,631,490)  2,167,903,993 
Convertible Preferred Stocks - 0.1%   
HEALTH CARE - 0.1%   
Health Care Equipment & Supplies - 0.1%   
Becton, Dickinson & Co. Series A 6.125%   
(Cost $2,210,000) 44,200 2,428,790 
Other - 0.3%   
ENERGY - 0.3%   
Oil, Gas & Consumable Fuels – 0.3%   
Utica Shale Drilling Program (non-operating revenue interest) (c)(d)(e)   
(Cost $9,242,241) 9,242,241 7,116,526 
Money Market Funds - 0.1%   
Fidelity Cash Central Fund, 1.09% (f)   
(Cost $1,594,139) 1,593,821 1,594,139 
TOTAL INVESTMENT IN SECURITIES - 100.1%   
(Cost $1,390,677,870)  2,179,043,448 
NET OTHER ASSETS (LIABILITIES) - (0.1)%  (1,179,109) 
NET ASSETS - 100%  $2,177,864,339 

Written Options       
 Counterparty Number of Contracts Notional Amount Exercise Price Expiration Date Value 
Call Options       
Apple, Inc. Chicago Board Options Exchange 261 $4,022,532 $170.00 10/20/17 $(1,958) 
Bank of America Corp. Chicago Board Options Exchange 3,582 9,076,788 27.00 11/17/17 (89,550) 
Bank of America Corp. Chicago Board Options Exchange 3,559 9,018,506 28.00 12/15/17 (74,739) 
Bristol-Myers Squibb Co. Chicago Board Options Exchange 468 2,983,032 65.00 10/20/17 (29,484) 
Charles Schwab Corp. Chicago Board Options Exchange 468 2,047,032 46.00 12/15/17 (38,610) 
Cisco Systems, Inc. Chicago Board Options Exchange 1,181 3,971,703 33.00 10/20/17 (80,899) 
Citigroup, Inc. Chicago Board Options Exchange 563 4,095,262 67.50 10/20/17 (304,020) 
Citigroup, Inc. Chicago Board Options Exchange 1,039 7,557,686 77.50 12/15/17 (87,276) 
CSX Corp. Chicago Board Options Exchange 572 3,103,672 55.00 11/17/17 (104,676) 
Johnson & Johnson Chicago Board Options Exchange 362 4,706,362 135.00 12/15/17 (41,630) 
JPMorgan Chase & Co. Chicago Board Options Exchange 416 3,973,216 97.50 11/17/17 (49,712) 
JPMorgan Chase & Co. Chicago Board Options Exchange 416 3,973,216 100.00 12/15/17 (43,888) 
Lowe's Companies, Inc. Chicago Board Options Exchange 470 3,757,180 82.50 10/20/17 (15,510) 
Lowe's Companies, Inc. Chicago Board Options Exchange 470 3,757,180 85.00 1/19/18 (66,270) 
MasterCard, Inc. Class A Chicago Board Options Exchange 157 2,216,840 135.00 10/20/17 (104,013) 
MasterCard, Inc. Class A Chicago Board Options Exchange 312 4,405,440 145.00 11/17/17 (63,180) 
MasterCard, Inc. Class A Chicago Board Options Exchange 156 2,202,720 150.00 1/19/18 (31,356) 
Microsoft Corp. Chicago Board Options Exchange 1,240 9,236,760 77.50 11/17/17 (104,160) 
Morgan Stanley Chicago Board Options Exchange 522 2,514,474 50.00 12/15/17 (59,247) 
PNC Financial Services Group, Inc. Chicago Board Options Exchange 52 700,804 135.00 11/17/17 (16,770) 
Procter & Gamble Co. Chicago Board Options Exchange 470 4,276,060 95.00 10/20/17 (5,170) 
State Street Corp. Chicago Board Options Exchange 457 4,366,178 97.50 11/17/17 (82,489) 
The Boeing Co. Chicago Board Options Exchange 104 2,643,784 260.00 11/17/17 (51,480) 
Time Warner, Inc. Chicago Board Options Exchange 418 4,282,410 105.00 10/20/17 (16,929) 
TOTAL WRITTEN OPTIONS      $(1,563,016) 

Legend

 (a) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $102,888,837.

 (b) Non-income producing

 (c) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (d) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $7,116,526 or 0.3% of net assets.

 (e) Level 3 instrument

 (f) Affiliated fund that is generally 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.


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
Utica Shale Drilling Program (non-operating revenue interest) 10/5/16 - 9/1/17 $9,242,241 

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 $8,327 
Fidelity Securities Lending Cash Central Fund 9,653 
Total $17,980 

Investment Valuation

The following is a summary of the inputs used, as of September 30, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $132,778,747 $132,778,747 $-- $-- 
Consumer Staples 162,519,248 162,519,248 -- -- 
Energy 268,794,702 268,794,702 -- -- 
Financials 478,925,724 478,925,724 -- -- 
Health Care 341,848,035 328,875,225 12,972,810 -- 
Industrials 205,018,406 205,018,406 -- -- 
Information Technology 474,855,464 474,855,464 -- -- 
Materials 47,975,999 47,975,999 -- -- 
Real Estate 9,211,778 9,211,778 -- -- 
Telecommunication Services 31,803,511 31,803,511 -- -- 
Utilities 16,601,169 16,601,169 -- -- 
Other 7,116,526 -- -- 7,116,526 
Money Market Funds 1,594,139 1,594,139 -- -- 
Total Investments in Securities: $2,179,043,448 $2,158,954,112 $12,972,810 $7,116,526 
Derivative Instruments:     
Liabilities     
Written Options $(1,563,016) $(1,563,016) $-- $-- 
Total Liabilities $(1,563,016) $(1,563,016) $-- $-- 
Total Derivative Instruments: $(1,563,016) $(1,563,016) $-- $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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 Holdings Report
for

Fidelity Advisor® Series Growth & Income Fund

September 30, 2017







AMHTI-QTLY-1117
1.950946.104





Investments September 30, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.9%   
 Shares Value 
CONSUMER DISCRETIONARY - 5.4%   
Auto Components - 0.1%   
Gentex Corp. 63,700 $1,261,260 
Hotels, Restaurants & Leisure - 0.2%   
Cedar Fair LP (depositary unit) 7,600 487,312 
DineEquity, Inc. 27,200 1,169,056 
Dunkin' Brands Group, Inc. 16,300 865,204 
Marriott International, Inc. Class A 5,100 562,326 
  3,083,898 
Media - 3.0%   
Comcast Corp. Class A 861,280 33,142,054 
Interpublic Group of Companies, Inc. 159,800 3,322,242 
Omnicom Group, Inc. 20,400 1,511,028 
The Walt Disney Co. 55,100 5,431,207 
Time Warner, Inc. (a) 58,241 5,966,790 
Viacom, Inc. Class B (non-vtg.) 60,600 1,687,104 
  51,060,425 
Multiline Retail - 0.4%   
Dollar General Corp. 36,400 2,950,220 
Target Corp. 76,563 4,517,983 
  7,468,203 
Specialty Retail - 1.6%   
L Brands, Inc. 162,600 6,765,786 
Lowe's Companies, Inc. (a) 174,377 13,939,697 
Ross Stores, Inc. 25,800 1,665,906 
TJX Companies, Inc. 72,500 5,345,425 
  27,716,814 
Textiles, Apparel & Luxury Goods - 0.1%   
VF Corp. 14,100 896,337 
TOTAL CONSUMER DISCRETIONARY  91,486,937 
CONSUMER STAPLES - 7.5%   
Beverages - 2.2%   
Coca-Cola European Partners PLC 31,500 1,311,030 
Dr. Pepper Snapple Group, Inc. 48,200 4,264,254 
Molson Coors Brewing Co. Class B 111,700 9,119,188 
The Coca-Cola Co. 522,798 23,531,138 
  38,225,610 
Food & Staples Retailing - 1.8%   
Costco Wholesale Corp. 6,100 1,002,169 
CVS Health Corp. 152,990 12,441,147 
Kroger Co. 306,300 6,144,378 
Wal-Mart Stores, Inc. 143,400 11,205,276 
  30,792,970 
Food Products - 0.5%   
B&G Foods, Inc. Class A (b) 54,700 1,742,195 
Campbell Soup Co. 17,700 828,714 
General Mills, Inc. 9,700 502,072 
Kellogg Co. 14,200 885,654 
Snyders-Lance, Inc. 20,600 785,684 
The J.M. Smucker Co. 28,700 3,011,491 
  7,755,810 
Household Products - 1.6%   
Procter & Gamble Co. (a) 296,007 26,930,717 
Personal Products - 0.5%   
Coty, Inc. Class A 178,300 2,947,299 
Unilever NV (NY Reg.) 106,400 6,281,856 
  9,229,155 
Tobacco - 0.9%   
Altria Group, Inc. 165,500 10,496,010 
British American Tobacco PLC sponsored ADR 76,900 4,802,405 
  15,298,415 
TOTAL CONSUMER STAPLES  128,232,677 
ENERGY - 13.0%   
Energy Equipment & Services - 1.0%   
Baker Hughes, a GE Co. Class A 76,900 2,816,078 
Nabors Industries Ltd. 106,400 858,648 
National Oilwell Varco, Inc. 136,200 4,866,426 
Oceaneering International, Inc. 144,400 3,793,388 
Schlumberger Ltd. 78,220 5,456,627 
  17,791,167 
Oil, Gas & Consumable Fuels - 12.0%   
Amyris, Inc. (b)(c) 57,016 182,451 
Anadarko Petroleum Corp. 66,700 3,258,295 
Apache Corp. 301,147 13,792,533 
Cabot Oil & Gas Corp. 280,900 7,514,075 
Cenovus Energy, Inc. 1,120,200 11,231,178 
Chevron Corp. 270,588 31,794,090 
ConocoPhillips Co. 667,300 33,398,365 
Golar LNG Ltd. 124,200 2,808,162 
Imperial Oil Ltd. 304,500 9,727,405 
Kinder Morgan, Inc. 734,100 14,080,038 
Legacy Reserves LP (c) 263,600 400,672 
Phillips 66 Co. 18,000 1,648,980 
Plains All American Pipeline LP 44,500 942,955 
PrairieSky Royalty Ltd. 7,260 185,784 
Suncor Energy, Inc. 888,790 31,149,498 
Teekay LNG Partners LP 87,600 1,559,280 
The Williams Companies, Inc. 860,574 25,825,826 
Valero Energy Corp. 27,900 2,146,347 
Williams Partners LP 341,380 13,279,682 
  204,925,616 
TOTAL ENERGY  222,716,783 
FINANCIALS - 23.0%   
Banks - 15.2%   
Bank of America Corp. (a) 2,350,737 59,567,676 
Citigroup, Inc. (a) 711,536 51,757,129 
Cullen/Frost Bankers, Inc. 3,900 370,188 
JPMorgan Chase & Co. (a) 555,988 53,102,414 
M&T Bank Corp. 10,600 1,707,024 
PNC Financial Services Group, Inc. (a) 109,644 14,776,722 
Regions Financial Corp. (a) 525,000 7,995,750 
SunTrust Banks, Inc. 367,850 21,986,395 
U.S. Bancorp 326,771 17,511,658 
Wells Fargo & Co. 586,400 32,339,960 
  261,114,916 
Capital Markets - 7.1%   
Apollo Global Management LLC Class A 142,100 4,277,210 
CBOE Holdings, Inc. (a) 40,900 4,402,067 
Charles Schwab Corp. (a) 245,454 10,736,158 
Goldman Sachs Group, Inc. 26,300 6,238,097 
KKR & Co. LP 432,278 8,788,212 
Morgan Stanley (a) 300,580 14,478,939 
Northern Trust Corp. 199,810 18,368,533 
Oaktree Capital Group LLC Class A 49,300 2,319,565 
S&P Global, Inc. 46,300 7,237,153 
State Street Corp. (a) 334,974 32,003,416 
TD Ameritrade Holding Corp. 12,900 629,520 
The Blackstone Group LP 356,000 11,879,720 
  121,358,590 
Insurance - 0.5%   
Marsh & McLennan Companies, Inc. 74,319 6,228,675 
MetLife, Inc. 50,500 2,623,475 
  8,852,150 
Thrifts & Mortgage Finance - 0.2%   
Radian Group, Inc. 161,652 3,021,276 
TOTAL FINANCIALS  394,346,932 
HEALTH CARE - 13.9%   
Biotechnology - 3.2%   
Alexion Pharmaceuticals, Inc. (c) 66,200 9,287,198 
Amgen, Inc. 155,865 29,061,029 
Biogen, Inc. (c) 15,100 4,728,112 
Gilead Sciences, Inc. 88,100 7,137,862 
Intercept Pharmaceuticals, Inc. (c) 14,600 847,384 
Shire PLC sponsored ADR 24,100 3,690,674 
  54,752,259 
Health Care Equipment & Supplies - 2.1%   
Becton, Dickinson & Co. 4,500 881,775 
Boston Scientific Corp. (c) 128,900 3,760,013 
Danaher Corp. 79,300 6,802,354 
Fisher & Paykel Healthcare Corp. 91,949 848,781 
Medtronic PLC 195,168 15,178,215 
Meridian Bioscience, Inc. 19,400 277,420 
ResMed, Inc. 26,300 2,024,048 
Steris PLC 14,200 1,255,280 
Zimmer Biomet Holdings, Inc. 51,600 6,041,844 
  37,069,730 
Health Care Providers & Services - 3.2%   
Aetna, Inc. 16,800 2,671,368 
Anthem, Inc. 49,600 9,418,048 
Cardinal Health, Inc. 98,800 6,611,696 
Cigna Corp. 50,800 9,496,552 
Fresenius Medical Care AG & Co. KGaA sponsored ADR (b) 40,500 1,980,045 
Humana, Inc. 22,600 5,506,038 
McKesson Corp. 64,330 9,881,731 
Patterson Companies, Inc. 69,372 2,681,228 
UnitedHealth Group, Inc. 31,200 6,110,520 
  54,357,226 
Life Sciences Tools & Services - 0.1%   
Agilent Technologies, Inc. 22,700 1,457,340 
Pharmaceuticals - 5.3%   
Allergan PLC 20,800 4,262,960 
AstraZeneca PLC sponsored ADR 144,600 4,899,048 
Bayer AG 29,400 4,016,138 
Bristol-Myers Squibb Co. (a) 137,200 8,745,128 
Eisai Co. Ltd. 3,200 164,259 
GlaxoSmithKline PLC sponsored ADR 635,840 25,815,104 
Innoviva, Inc. (c) 55,800 787,896 
Johnson & Johnson (a) 214,574 27,896,766 
Novartis AG sponsored ADR 10,032 861,247 
Sanofi SA 54,962 5,471,284 
Teva Pharmaceutical Industries Ltd. sponsored ADR 412,849 7,266,142 
  90,185,972 
TOTAL HEALTH CARE  237,822,527 
INDUSTRIALS - 12.0%   
Aerospace & Defense - 2.3%   
General Dynamics Corp. 22,400 4,604,992 
Meggitt PLC 49,473 345,391 
Rolls-Royce Holdings PLC 315,200 3,749,075 
The Boeing Co. (a) 26,179 6,654,964 
United Technologies Corp. 200,720 23,299,578 
  38,654,000 
Air Freight & Logistics - 1.7%   
C.H. Robinson Worldwide, Inc. 105,500 8,028,550 
Expeditors International of Washington, Inc. 69,100 4,136,326 
United Parcel Service, Inc. Class B 147,470 17,709,672 
  29,874,548 
Commercial Services & Supplies - 0.1%   
KAR Auction Services, Inc. 25,600 1,222,144 
Ritchie Brothers Auctioneers, Inc. 42,400 1,340,557 
  2,562,701 
Construction & Engineering - 0.1%   
Fluor Corp. 24,600 1,035,660 
Electrical Equipment - 0.6%   
Acuity Brands, Inc. 15,600 2,671,968 
AMETEK, Inc. 49,400 3,262,376 
Hubbell, Inc. Class B 41,337 4,795,919 
  10,730,263 
Industrial Conglomerates - 2.2%   
General Electric Co. 1,537,966 37,188,018 
Machinery - 0.9%   
Donaldson Co., Inc. 46,600 2,140,804 
Flowserve Corp. 165,900 7,065,681 
Snap-On, Inc. 17,900 2,667,279 
Wabtec Corp. (b) 48,800 3,696,600 
Zardoya Otis SA 2,600 28,763 
  15,599,127 
Professional Services - 0.4%   
Intertrust NV 100,500 1,632,050 
Nielsen Holdings PLC 112,700 4,671,415 
  6,303,465 
Road & Rail - 2.9%   
CSX Corp. (a) 316,012 17,146,811 
J.B. Hunt Transport Services, Inc. (a) 131,465 14,603,132 
Norfolk Southern Corp. 61,580 8,143,339 
Union Pacific Corp. 84,900 9,845,853 
  49,739,135 
Trading Companies & Distributors - 0.8%   
Brenntag AG 6,100 339,680 
Bunzl PLC 11,300 343,269 
Fastenal Co. 100,000 4,558,000 
Howden Joinery Group PLC 52,100 300,898 
MSC Industrial Direct Co., Inc. Class A 15,900 1,201,563 
W.W. Grainger, Inc. (b) 2,000 359,500 
Watsco, Inc. 44,220 7,122,515 
  14,225,425 
TOTAL INDUSTRIALS  205,912,342 
INFORMATION TECHNOLOGY - 17.6%   
Communications Equipment - 1.5%   
Cisco Systems, Inc. (a) 780,140 26,236,108 
Electronic Equipment & Components - 0.1%   
Avnet, Inc. 26,500 1,041,450 
Philips Lighting NV 24,700 996,939 
  2,038,389 
Internet Software & Services - 3.4%   
Alphabet, Inc.:   
Class A (c) 32,959 32,092,837 
Class C (c) 26,334 25,257,203 
  57,350,040 
IT Services - 3.7%   
Accenture PLC Class A 32,800 4,430,296 
Amdocs Ltd. 32,900 2,116,128 
Cognizant Technology Solutions Corp. Class A 14,700 1,066,338 
MasterCard, Inc. Class A (a) 98,250 13,872,900 
Paychex, Inc. 295,514 17,719,019 
Unisys Corp. (b)(c) 222,000 1,887,000 
Visa, Inc. Class A 218,780 23,024,407 
  64,116,088 
Semiconductors & Semiconductor Equipment - 1.7%   
Maxim Integrated Products, Inc. 38,500 1,836,835 
Qualcomm, Inc. 500,210 25,930,886 
United Microelectronics Corp. sponsored ADR 169,000 422,500 
Xilinx, Inc. 17,100 1,211,193 
  29,401,414 
Software - 4.5%   
Micro Focus International PLC 104,668 3,347,890 
Microsoft Corp. (a) 832,008 61,976,277 
Oracle Corp. 137,213 6,634,249 
SAP SE sponsored ADR 47,700 5,230,305 
  77,188,721 
Technology Hardware, Storage & Peripherals - 2.7%   
Apple, Inc. (a) 296,506 45,697,505 
TOTAL INFORMATION TECHNOLOGY  302,028,265 
MATERIALS - 3.1%   
Chemicals - 2.5%   
CF Industries Holdings, Inc. 138,400 4,866,144 
DowDuPont, Inc. 56,766 3,929,910 
LyondellBasell Industries NV Class A 99,300 9,835,665 
Monsanto Co. 94,214 11,288,721 
Potash Corp. of Saskatchewan, Inc. 432,210 8,320,324 
PPG Industries, Inc. 6,400 695,424 
The Scotts Miracle-Gro Co. Class A 9,400 914,996 
W.R. Grace & Co. 52,400 3,780,660 
  43,631,844 
Containers & Packaging - 0.5%   
Ball Corp. 110,100 4,547,130 
Graphic Packaging Holding Co. 12,400 172,980 
WestRock Co. 69,800 3,959,754 
  8,679,864 
Metals & Mining - 0.1%   
Reliance Steel & Aluminum Co. 13,400 1,020,678 
TOTAL MATERIALS  53,332,386 
REAL ESTATE - 1.1%   
Equity Real Estate Investment Trusts (REITs) - 1.1%   
American Tower Corp. 20,100 2,747,268 
CoreSite Realty Corp. 6,400 716,160 
Crown Castle International Corp. 63,200 6,318,736 
First Potomac Realty Trust 67,779 755,058 
Omega Healthcare Investors, Inc. 29,600 944,536 
Public Storage 20,100 4,301,199 
Sabra Health Care REIT, Inc. 64,500 1,415,130 
Spirit Realty Capital, Inc. 176,500 1,512,605 
  18,710,692 
TELECOMMUNICATION SERVICES - 1.2%   
Diversified Telecommunication Services - 1.2%   
Verizon Communications, Inc. 398,559 19,724,685 
UTILITIES - 1.1%   
Electric Utilities - 1.0%   
Exelon Corp. 407,200 15,339,224 
PPL Corp. 48,800 1,851,960 
Southern Co. 10,300 506,142 
  17,697,326 
Multi-Utilities - 0.1%   
Public Service Enterprise Group, Inc. 30,800 1,424,500 
TOTAL UTILITIES  19,121,826 
TOTAL COMMON STOCKS   
(Cost $1,413,068,641)  1,693,436,052 
Preferred Stocks - 0.3%   
Convertible Preferred Stocks - 0.3%   
HEALTH CARE - 0.2%   
Health Care Equipment & Supplies - 0.2%   
Becton, Dickinson & Co. Series A 6.125% 47,900 2,632,105 
INDUSTRIALS - 0.1%   
Commercial Services & Supplies - 0.1%   
Stericycle, Inc. 2.25% 27,800 1,605,450 
UTILITIES - 0.0%   
Independent Power and Renewable Electricity Producers - 0.0%   
Dynegy, Inc. 7.00% 10,600 723,450 
TOTAL CONVERTIBLE PREFERRED STOCKS  4,961,005 
Nonconvertible Preferred Stocks - 0.0%   
INDUSTRIALS - 0.0%   
Aerospace & Defense - 0.0%   
Rolls-Royce Holdings PLC (C Shares) (c) 44,692,070 59,887 
TOTAL PREFERRED STOCKS   
(Cost $5,606,369)  5,020,892 
 Principal Amount(d) Value 
Convertible Bonds - 0.1%   
HEALTH CARE - 0.1%   
Pharmaceuticals - 0.1%   
Bayer Capital Corp. BV 5.625% 11/22/19(e)   
(Cost $1,566,118) EUR 1,400,000 2,019,777 
 Shares Value 
Other - 0.2%   
ENERGY - 0.2%   
Oil, Gas & Consumable Fuels - 0.2%   
Utica Shale Drilling Program (non-operating revenue interest) (f)(g)(h)   
(Cost $3,197,358) 3,197,358 2,461,966 
Money Market Funds - 1.0%   
Fidelity Cash Central Fund, 1.09% (i) 12,440,404 12,442,892 
Fidelity Securities Lending Cash Central Fund 1.10% (i)(j) 5,371,592 5,372,666 
TOTAL MONEY MARKET FUNDS   
(Cost $17,814,963)  17,815,558 
TOTAL INVESTMENT IN SECURITIES - 100.5%   
(Cost $1,441,253,449)  1,720,754,245 
NET OTHER ASSETS (LIABILITIES) - (0.5)%  (8,374,763) 
NET ASSETS - 100%  $1,712,379,482 

Written Options       
 Counterparty Number of Contracts Notional Amount Exercise Price Expiration Date Value 
Call Options       
Apple, Inc. Chicago Board Options Exchange 157 $2,419,684 $170.00 10/20/17 $(1,177) 
Bank of America Corp. Chicago Board Options Exchange 2,347 5,947,298 27.00 11/17/17 (58,675) 
Bank of America Corp. Chicago Board Options Exchange 2,349 5,952,366 28.00 12/15/17 (49,329) 
Bristol-Myers Squibb Chicago Board Options Exchange 329 2,097,046 65.00 10/20/17 (20,727) 
CBOE Holdings, Inc. Chicago Board Options Exchange 358 3,853,154 110.00 12/15/17 (82,340) 
Cisco Systems, Inc. Chicago Board Options Exchange 784 2,636,592 33.00 10/20/17 (53,704) 
Citigroup, Inc. Chicago Board Options Exchange 709 5,157,266 77.50 12/15/17 (59,556) 
CSX Corp. Chicago Board Options Exchange 470 2,550,220 55.00 11/17/17 (86,010) 
J.B. Hunt Transport Services, Inc. Chicago Board Options Exchange 64 710,912 110.00 11/17/17 (24,640) 
J.B. Hunt Transport Services, Inc. Chicago Board Options Exchange 129 1,432,932 115.00 11/17/17 (20,963) 
Johnson & Johnson Chicago Board Options Exchange 215 2,795,215 135.00 12/15/17 (24,725) 
JPMorgan Chase & Co. Chicago Board Options Exchange 272 2,597,872 97.50 11/17/17 (32,504) 
JPMorgan Chase & Co. Chicago Board Options Exchange 272 2,597,872 100.00 12/15/17 (28,696) 
Lowe's Companies, Inc. Chicago Board Options Exchange 257 2,054,458 82.50 10/20/17 (8,481) 
Lowe's Companies, Inc. Chicago Board Options Exchange 257 2,054,458 85.00 1/19/18 (36,237) 
MasterCard, Inc. Class A Chicago Board Options Exchange 100 1,412,000 135.00 10/20/17 (66,250) 
MasterCard, Inc. Class A Chicago Board Options Exchange 200 2,824,000 145.00 11/17/17 (40,500) 
MasterCard, Inc. Class A Chicago Board Options Exchange 100 1,412,000 150.00 1/19/18 (20,100) 
Microsoft Corp. Chicago Board Options Exchange 833 6,205,017 77.50 11/17/17 (69,972) 
Morgan Stanley Chicago Board Options Exchange 295 1,421,015 50.00 12/15/17 (33,483) 
PNC Financial Services Group, Inc. Chicago Board Options Exchange 50 673,850 135.00 11/17/17 (16,125) 
Proctor & Gamble Co. Chicago Board Options Exchange 293 2,665,714 95.00 10/20/17 (3,223) 
Regions Financial Corp. Chicago Board Options Exchange 782 1,190,986 16.00 11/17/17 (18,377) 
State Street Corp. Chicago Board Options Exchange 555 5,302,470 97.50 11/17/17 (100,177) 
The Boeing Co. Chicago Board Options Exchange 50 1,271,050 260.00 11/17/17 (24,750) 
The Charles Schwab Corp. Chicago Board Options Exchange 366 1,600,884 46.00 12/15/17 (30,195) 
Time Warner, Inc. Chicago Board Options Exchange 188 1,926,060 105.00 10/20/17 (7,614) 
Watsco, Inc. Morgan Stanley & Co. Intl Plc 86 1,385,202 165.00 11/17/17 (18,163) 
TOTAL WRITTEN OPTIONS      $(1,036,693) 

Currency Abbreviations

EUR – European Monetary Unit

Legend

 (a) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $72,762,391.

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

 (c) Non-income producing

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

 (e) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,019,777 or 0.1% of net assets.

 (f) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (g) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $2,461,966 or 0.2% of net assets.

 (h) Level 3 security

 (i) Affiliated fund that is generally 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
Utica Shale Drilling Program (non-operating revenue interest) 10/5/16 - 9/1/17 $3,197,358 

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 $38,233 
Fidelity Securities Lending Cash Central Fund 25,236 
Total $63,469 

Investment Valuation

The following is a summary of the inputs used, as of September 30, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Consumer Discretionary $91,486,937 $91,486,937 $-- $-- 
Consumer Staples 128,232,677 128,232,677 -- -- 
Energy 222,716,783 222,716,783 -- -- 
Financials 394,346,932 394,346,932 -- -- 
Health Care 240,454,632 228,335,105 12,119,527 -- 
Industrials 207,577,679 202,223,154 5,354,525 -- 
Information Technology 302,028,265 302,028,265 -- -- 
Materials 53,332,386 53,332,386 -- -- 
Real Estate 18,710,692 18,710,692 -- -- 
Telecommunication Services 19,724,685 19,724,685 -- -- 
Utilities 19,845,276 19,121,826 723,450 -- 
Corporate Bonds 2,019,777 -- 2,019,777 -- 
Other 2,461,966 -- -- 2,461,966 
Money Market Funds 17,815,558 17,815,558 -- -- 
Total Investments in Securities: $1,720,754,245 $1,698,075,000 $20,217,279 $2,461,966 
Derivative Instruments:     
Liabilities     
Written Options $(1,036,693) $(1,018,530) $(18,163) $-- 
Total Liabilities $(1,036,693) $(1,018,530) $(18,163) $-- 
Total Derivative Instruments: $(1,036,693) $(1,018,530) $(18,163) $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy. Options traded over-the-counter are valued using vendor or broker-supplied valuations and are categorized as Level 2 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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 Holdings Report
for

Fidelity® Fund

September 30, 2017







FID-QTLY-1117
1.808776.113





Investments September 30, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.1%   
 Shares Value (000s) 
CONSUMER DISCRETIONARY - 9.1%   
Auto Components - 0.1%   
Tenneco, Inc. 36,571 $2,219 
Hotels, Restaurants & Leisure - 1.9%   
Domino's Pizza, Inc. 102,000 20,252 
Vail Resorts, Inc. 55,100 12,569 
Wyndham Worldwide Corp. 488,000 51,440 
  84,261 
Internet & Direct Marketing Retail - 3.5%   
Amazon.com, Inc. (a) 118,000 113,439 
Priceline Group, Inc. (a) 26,300 48,151 
  161,590 
Media - 2.2%   
Comcast Corp. Class A 2,141,400 82,401 
The Walt Disney Co. 195,095 19,231 
  101,632 
Specialty Retail - 1.4%   
Home Depot, Inc. 389,000 63,625 
TOTAL CONSUMER DISCRETIONARY  413,327 
CONSUMER STAPLES - 6.6%   
Beverages - 1.3%   
PepsiCo, Inc. 555,000 61,844 
Food & Staples Retailing - 2.2%   
Costco Wholesale Corp. 285,000 46,823 
Wal-Mart Stores, Inc. 699,900 54,690 
  101,513 
Personal Products - 1.1%   
Estee Lauder Companies, Inc. Class A 192,300 20,738 
Unilever NV (Certificaten Van Aandelen) (Bearer) 500,000 29,555 
  50,293 
Tobacco - 2.0%   
British American Tobacco PLC:   
(United Kingdom) 60,000 3,756 
sponsored ADR 131,500 8,212 
Philip Morris International, Inc. 700,000 77,707 
  89,675 
TOTAL CONSUMER STAPLES  303,325 
ENERGY - 2.4%   
Oil, Gas & Consumable Fuels - 2.4%   
ConocoPhillips Co. 748,100 37,442 
Kinder Morgan, Inc. 124,000 2,378 
Phillips 66 Co. 137,500 12,596 
Teekay LNG Partners LP 1,000,001 17,800 
Valero Energy Corp. 200,000 15,386 
Williams Partners LP 550,000 21,395 
  106,997 
FINANCIALS - 16.9%   
Banks - 11.5%   
Bank of America Corp. 5,900,000 149,506 
Citigroup, Inc. 1,438,000 104,600 
JPMorgan Chase & Co. 1,748,900 167,037 
SunTrust Banks, Inc. 1,241,300 74,193 
Wells Fargo & Co. 541,000 29,836 
  525,172 
Capital Markets - 1.9%   
Goldman Sachs Group, Inc. 65,800 15,607 
MSCI, Inc. 250,000 29,225 
S&P Global, Inc. 276,000 43,142 
  87,974 
Insurance - 3.5%   
AFLAC, Inc. 840,037 68,371 
Allstate Corp. 660,000 60,661 
Marsh & McLennan Companies, Inc. 375,000 31,429 
  160,461 
TOTAL FINANCIALS  773,607 
HEALTH CARE - 19.5%   
Biotechnology - 7.2%   
AbbVie, Inc. 865,000 76,864 
Amgen, Inc. 626,300 116,774 
Celgene Corp. (a) 480,000 69,994 
Gilead Sciences, Inc. 596,000 48,288 
Vertex Pharmaceuticals, Inc. (a) 107,150 16,291 
  328,211 
Health Care Equipment & Supplies - 3.7%   
Baxter International, Inc. 495,000 31,061 
Becton, Dickinson & Co. 235,438 46,134 
Boston Scientific Corp. (a) 1,150,000 33,546 
Danaher Corp. 703,200 60,320 
  171,061 
Health Care Providers & Services - 5.5%   
AmerisourceBergen Corp. 258,898 21,424 
Cigna Corp. 378,500 70,757 
Humana, Inc. 260,000 63,344 
UnitedHealth Group, Inc. 499,952 97,916 
  253,441 
Life Sciences Tools & Services - 1.6%   
Agilent Technologies, Inc. 700,000 44,940 
Waters Corp. (a) 155,000 27,826 
  72,766 
Pharmaceuticals - 1.5%   
Johnson & Johnson 514,000 66,825 
TOTAL HEALTH CARE  892,304 
INDUSTRIALS - 8.8%   
Aerospace & Defense - 4.7%   
Huntington Ingalls Industries, Inc. 245,500 55,591 
Northrop Grumman Corp. 225,000 64,737 
Raytheon Co. 500,000 93,290 
  213,618 
Airlines - 0.1%   
Southwest Airlines Co. 110,000 6,158 
Building Products - 1.2%   
A.O. Smith Corp. 443,980 26,386 
Masco Corp. 750,000 29,258 
  55,644 
Electrical Equipment - 0.7%   
Fortive Corp. 451,600 31,969 
Industrial Conglomerates - 1.3%   
3M Co. 278,000 58,352 
Machinery - 0.8%   
Caterpillar, Inc. 288,300 35,954 
TOTAL INDUSTRIALS  401,695 
INFORMATION TECHNOLOGY - 27.8%   
Electronic Equipment & Components - 1.6%   
Amphenol Corp. Class A 860,100 72,799 
Internet Software & Services - 7.3%   
Akamai Technologies, Inc. (a) 110,094 5,364 
Alphabet, Inc.:   
Class A (a) 172,500 167,967 
Class C (a) 26,027 24,963 
Facebook, Inc. Class A (a) 789,200 134,851 
  333,145 
IT Services - 3.1%   
CSRA, Inc. 300,000 9,681 
MasterCard, Inc. Class A 460,300 64,994 
Visa, Inc. Class A 630,000 66,301 
  140,976 
Semiconductors & Semiconductor Equipment - 3.6%   
Applied Materials, Inc. 790,000 41,151 
KLA-Tencor Corp. 290,000 30,740 
Lam Research Corp. 150,000 27,756 
Qualcomm, Inc. 280,000 14,515 
Texas Instruments, Inc. 575,000 51,543 
  165,705 
Software - 6.2%   
Adobe Systems, Inc. (a) 290,000 43,262 
Check Point Software Technologies Ltd. (a) 246,000 28,049 
Citrix Systems, Inc. (a) 440,000 33,801 
Electronic Arts, Inc. (a) 13,500 1,594 
Microsoft Corp. 2,385,000 177,659 
  284,365 
Technology Hardware, Storage & Peripherals - 6.0%   
Apple, Inc. 1,775,500 273,635 
TOTAL INFORMATION TECHNOLOGY  1,270,625 
MATERIALS - 2.6%   
Chemicals - 2.6%   
DowDuPont, Inc. 661,701 45,810 
Monsanto Co. 380,000 45,532 
The Chemours Co. LLC 500,000 25,305 
The Scotts Miracle-Gro Co. Class A 35,805 3,485 
  120,132 
REAL ESTATE - 0.7%   
Equity Real Estate Investment Trusts (REITs) - 0.7%   
American Tower Corp. 244,100 33,364 
TELECOMMUNICATION SERVICES - 0.6%   
Wireless Telecommunication Services - 0.6%   
T-Mobile U.S., Inc. (a) 450,000 27,747 
UTILITIES - 1.1%   
Electric Utilities - 1.1%   
NextEra Energy, Inc. 334,611 49,037 
TOTAL COMMON STOCKS   
(Cost $3,107,988)  4,392,160 
 Principal Amount (000s) Value (000s) 
U.S. Treasury Obligations - 0.0%   
U.S. Treasury Bills, yield at date of purchase 1.01% to 1.02% 12/14/17 to 12/21/17 (b)   
(Cost $2,554) 2,560 2,554 
 Shares Value (000s) 
Money Market Funds - 3.5%   
Fidelity Cash Central Fund, 1.09% (c)   
(Cost $158,180) 158,148,518 158,180 
TOTAL INVESTMENT IN SECURITIES - 99.6%   
(Cost $3,268,722)  4,552,894 
NET OTHER ASSETS (LIABILITIES) - 0.4%  18,680 
NET ASSETS - 100%  $4,571,574 

Futures Contracts      
 Number of contracts Expiration Date Notional Amount (000s) Value (000s) Unrealized Appreciation/(Depreciation) (000s) 
Purchased      
Equity Index Contracts      
CME E-mini S&P 500 Index Contracts (United States) 534 Dec. 2017 $67,180 $1,397 $1,397 

The notional amount of futures purchased as a percentage of Net Assets is 1.5%

Legend

 (a) Non-income producing

 (b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $2,554,000.

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


Affiliated Central Funds

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

Fund Income earned 
 (Amounts in thousands) 
Fidelity Cash Central Fund $314 
Fidelity Securities Lending Cash Central Fund 
Total $315 

Investment Valuation

The following is a summary of the inputs used, as of September 30, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Consumer Discretionary $413,327 $413,327 $-- $-- 
Consumer Staples 303,325 270,014 33,311 -- 
Energy 106,997 106,997 -- -- 
Financials 773,607 773,607 -- -- 
Health Care 892,304 892,304 -- -- 
Industrials 401,695 401,695 -- -- 
Information Technology 1,270,625 1,270,625 -- -- 
Materials 120,132 120,132 -- -- 
Real Estate 33,364 33,364 -- -- 
Telecommunication Services 27,747 27,747 -- -- 
Utilities 49,037 49,037 -- -- 
U.S. Government and Government Agency Obligations 2,554 -- 2,554 -- 
Money Market Funds 158,180 158,180 -- -- 
Total Investments in Securities: $4,552,894 $4,517,029 $35,865 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $1,397 $1,397 $-- $-- 
Total Assets $1,397 $1,397 $-- $-- 
Total Derivative Instruments: $1,397 $1,397 $-- $-- 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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 Holdings Report
for

Fidelity® Growth Discovery Fund

September 30, 2017







CII-QTLY-1117
1.808775.113





Investments September 30, 2017 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.3%   
 Shares Value (000s) 
CONSUMER DISCRETIONARY - 12.5%   
Diversified Consumer Services - 0.6%   
Grand Canyon Education, Inc. (a) 95,500 $8,673 
Hotels, Restaurants & Leisure - 1.0%   
Dave & Buster's Entertainment, Inc. (a) 195,100 10,239 
Marriott International, Inc. Class A 27,600 3,043 
Wingstop, Inc. 75,200 2,500 
  15,782 
Household Durables - 0.8%   
Gree Electric Appliances, Inc. of Zhuhai Class A 155,600 886 
Panasonic Corp. 803,900 11,666 
SodaStream International Ltd. (a) 2,900 193 
  12,745 
Internet & Direct Marketing Retail - 5.2%   
Amazon.com, Inc. (a) 64,100 61,623 
Ctrip.com International Ltd. ADR (a) 204,200 10,770 
JD.com, Inc. sponsored ADR (a) 87,900 3,358 
Priceline Group, Inc. (a) 1,600 2,929 
  78,680 
Media - 1.7%   
Charter Communications, Inc. Class A (a) 49,500 17,989 
Cinemark Holdings, Inc. 68,300 2,473 
Sirius XM Holdings, Inc. (b) 1,125,600 6,213 
  26,675 
Specialty Retail - 2.8%   
Five Below, Inc. (a) 2,600 143 
Home Depot, Inc. 257,624 42,137 
  42,280 
Textiles, Apparel & Luxury Goods - 0.4%   
Canada Goose Holdings, Inc. 2,600 53 
Kering SA 2,300 916 
LVMH Moet Hennessy - Louis Vuitton SA 20,129 5,564 
  6,533 
TOTAL CONSUMER DISCRETIONARY  191,368 
CONSUMER STAPLES - 7.2%   
Beverages - 2.7%   
Anheuser-Busch InBev SA NV ADR 30,300 3,615 
Constellation Brands, Inc. Class A (sub. vtg.) 34,400 6,861 
Fever-Tree Drinks PLC 25,587 750 
Kweichow Moutai Co. Ltd. (A Shares) 44,229 3,441 
PepsiCo, Inc. 61,900 6,898 
Pernod Ricard SA ADR 121,600 3,368 
The Coca-Cola Co. 362,636 16,322 
  41,255 
Food & Staples Retailing - 0.6%   
Costco Wholesale Corp. 52,700 8,658 
Food Products - 0.5%   
Danone SA 97,069 7,624 
Hostess Brands, Inc. Class A (a) 28,100 384 
  8,008 
Household Products - 0.2%   
Reckitt Benckiser Group PLC 32,900 3,006 
Personal Products - 2.6%   
Coty, Inc. Class A 313,900 5,189 
Estee Lauder Companies, Inc. Class A 87,900 9,479 
Herbalife Ltd. (a)(b) 194,700 13,207 
Unilever NV (NY Reg.) 204,300 12,062 
  39,937 
Tobacco - 0.6%   
British American Tobacco PLC sponsored ADR 158,600 9,905 
TOTAL CONSUMER STAPLES  110,769 
ENERGY - 1.6%   
Oil, Gas & Consumable Fuels - 1.6%   
Cheniere Energy, Inc. (a) 341,100 15,363 
Golar LNG Ltd. 82,661 1,869 
Reliance Industries Ltd. 594,822 7,112 
  24,344 
FINANCIALS - 8.7%   
Banks - 4.2%   
Citigroup, Inc. 99,000 7,201 
First Republic Bank 150,500 15,721 
HDFC Bank Ltd. 33,668 934 
HDFC Bank Ltd. sponsored ADR 30,700 2,959 
Home Bancshares, Inc. 135,900 3,427 
Huntington Bancshares, Inc. 490,780 6,851 
JPMorgan Chase & Co. 275,700 26,332 
Metro Bank PLC (a) 25,300 1,146 
  64,571 
Capital Markets - 4.2%   
CBOE Holdings, Inc. 11,048 1,189 
Charles Schwab Corp. 126,100 5,516 
CME Group, Inc. 164,545 22,325 
Goldman Sachs Group, Inc. 16,700 3,961 
JMP Group, Inc. 64,700 364 
MSCI, Inc. 70,600 8,253 
S&P Global, Inc. 67,612 10,568 
The Blackstone Group LP 350,600 11,700 
  63,876 
Diversified Financial Services - 0.3%   
Berkshire Hathaway, Inc. Class B (a) 28,100 5,151 
TOTAL FINANCIALS  133,598 
HEALTH CARE - 11.0%   
Biotechnology - 5.5%   
Advanced Accelerator Applications SA sponsored ADR (a) 45,600 3,083 
Alexion Pharmaceuticals, Inc. (a) 53,700 7,534 
Amgen, Inc. 137,900 25,711 
BioMarin Pharmaceutical, Inc. (a) 80,396 7,482 
Bioverativ, Inc. 4,500 257 
Cytokinetics, Inc. (a) 83,571 1,212 
Insmed, Inc. (a) 342,378 10,686 
Regeneron Pharmaceuticals, Inc. (a) 16,100 7,199 
Samsung Biologics Co. Ltd. 926 273 
TESARO, Inc. (a) 53,100 6,855 
Vertex Pharmaceuticals, Inc. (a) 94,593 14,382 
  84,674 
Health Care Equipment & Supplies - 4.3%   
Becton, Dickinson & Co. 26,700 5,232 
Boston Scientific Corp. (a) 683,000 19,923 
Danaher Corp. 144,355 12,383 
Intuitive Surgical, Inc. (a) 18,900 19,767 
Medtronic PLC 50,100 3,896 
ResMed, Inc. 49,300 3,794 
  64,995 
Health Care Providers & Services - 0.4%   
Henry Schein, Inc. (a) 26,100 2,140 
UnitedHealth Group, Inc. 17,200 3,369 
  5,509 
Pharmaceuticals - 0.8%   
Allergan PLC 26,700 5,472 
Astellas Pharma, Inc. 291,400 3,709 
Mallinckrodt PLC (a) 81,600 3,049 
  12,230 
TOTAL HEALTH CARE  167,408 
INDUSTRIALS - 6.7%   
Aerospace & Defense - 0.5%   
Axon Enterprise, Inc. (a)(b) 136,170 3,087 
TransDigm Group, Inc. 16,827 4,302 
  7,389 
Airlines - 0.3%   
Ryanair Holdings PLC sponsored ADR (a) 37,764 3,981 
Commercial Services & Supplies - 0.6%   
Copart, Inc. (a) 87,400 3,004 
KAR Auction Services, Inc. 115,700 5,524 
Prosegur Compania de Seguridad SA (Reg.) 82,500 617 
  9,145 
Electrical Equipment - 2.2%   
AMETEK, Inc. 216,700 14,311 
Fortive Corp. 232,127 16,432 
Nidec Corp. 24,900 3,058 
  33,801 
Industrial Conglomerates - 0.4%   
Roper Technologies, Inc. 24,914 6,064 
Machinery - 1.1%   
Allison Transmission Holdings, Inc. 417,500 15,669 
Rational AG 1,800 1,239 
  16,908 
Professional Services - 1.5%   
IHS Markit Ltd. (a) 259,300 11,430 
Robert Half International, Inc. 87,400 4,400 
TransUnion Holding Co., Inc. (a) 159,700 7,547 
  23,377 
Trading Companies & Distributors - 0.1%   
MSC Industrial Direct Co., Inc. Class A 19,100 1,443 
TOTAL INDUSTRIALS  102,108 
INFORMATION TECHNOLOGY - 41.6%   
Electronic Equipment & Components - 0.2%   
CDW Corp. 50,300 3,320 
Internet Software & Services - 17.7%   
Alibaba Group Holding Ltd. sponsored ADR (a) 123,000 21,243 
Alphabet, Inc. Class A (a) 99,652 97,037 
CommerceHub, Inc.:   
Series A (a) 160,970 3,633 
Series C (a) 149,740 3,197 
Facebook, Inc. Class A (a) 462,091 78,957 
GoDaddy, Inc. (a) 166,700 7,253 
NetEase, Inc. ADR 13,700 3,614 
Shopify, Inc. Class A (a) 20,500 2,384 
Stamps.com, Inc. (a) 123,871 25,102 
Tencent Holdings Ltd. 360,100 15,744 
VeriSign, Inc. (a)(b) 84,800 9,022 
Wix.com Ltd. (a) 44,900 3,226 
  270,412 
IT Services - 8.4%   
Cognizant Technology Solutions Corp. Class A 225,530 16,360 
Fidelity National Information Services, Inc. 82,124 7,670 
Global Payments, Inc. 236,631 22,487 
MasterCard, Inc. Class A 61,300 8,656 
PayPal Holdings, Inc. (a) 386,700 24,760 
Square, Inc. (a) 568,500 16,378 
Vantiv, Inc. (a) 78,700 5,546 
Visa, Inc. Class A 250,496 26,362 
  128,219 
Semiconductors & Semiconductor Equipment - 2.2%   
ASML Holding NV 37,300 6,386 
Broadcom Ltd. 29,200 7,082 
Maxim Integrated Products, Inc. 137,805 6,575 
Monolithic Power Systems, Inc. 33,618 3,582 
Qualcomm, Inc. 202,000 10,472 
  34,097 
Software - 10.2%   
Activision Blizzard, Inc. 139,087 8,973 
Adobe Systems, Inc. (a) 198,800 29,657 
Autodesk, Inc. (a) 197,200 22,138 
Blackbaud, Inc. 20,200 1,774 
Computer Modelling Group Ltd. 272,500 2,000 
CyberArk Software Ltd. (a) 26,100 1,070 
Electronic Arts, Inc. (a) 311,034 36,721 
Intuit, Inc. 26,300 3,738 
Microsoft Corp. 213,600 15,911 
Red Hat, Inc. (a) 75,300 8,348 
Salesforce.com, Inc. (a) 211,264 19,736 
Snap, Inc. Class A (a)(b) 353,200 5,136 
  155,202 
Technology Hardware, Storage & Peripherals - 2.9%   
Apple, Inc. 290,700 44,803 
TOTAL INFORMATION TECHNOLOGY  636,053 
MATERIALS - 2.1%   
Chemicals - 1.1%   
Sherwin-Williams Co. 22,100 7,913 
The Chemours Co. LLC 167,400 8,472 
Umicore SA 12,965 1,072 
  17,457 
Construction Materials - 1.0%   
Eagle Materials, Inc. 111,700 11,918 
Summit Materials, Inc. 81,900 2,623 
  14,541 
TOTAL MATERIALS  31,998 
REAL ESTATE - 3.9%   
Equity Real Estate Investment Trusts (REITs) - 2.2%   
American Tower Corp. 184,600 25,231 
Equinix, Inc. 9,300 4,151 
SBA Communications Corp. Class A (a) 26,900 3,875 
  33,257 
Real Estate Management & Development - 1.7%   
Realogy Holdings Corp. 778,881 25,664 
TOTAL REAL ESTATE  58,921 
TOTAL COMMON STOCKS   
(Cost $1,095,702)  1,456,567 
Preferred Stocks - 0.8%   
Convertible Preferred Stocks - 0.6%   
CONSUMER DISCRETIONARY - 0.0%   
Household Durables - 0.0%   
Blu Homes, Inc. Series A, 5.00% (a)(c)(d) 239,736 
INFORMATION TECHNOLOGY - 0.6%   
Internet Software & Services - 0.5%   
Uber Technologies, Inc. Series D, 8.00% (a)(c)(d) 162,572 7,929 
IT Services - 0.1%   
AppNexus, Inc. Series E (a)(c)(d) 48,212 1,111 
TOTAL INFORMATION TECHNOLOGY  9,040 
TOTAL CONVERTIBLE PREFERRED STOCKS  9,042 
Nonconvertible Preferred Stocks - 0.2%   
FINANCIALS - 0.2%   
Banks - 0.2%   
Itau Unibanco Holding SA sponsored ADR 221,400 3,033 
TOTAL PREFERRED STOCKS   
(Cost $7,598)  12,075 
Money Market Funds - 6.3%   
Fidelity Cash Central Fund, 1.09% (e) 61,083,207 61,095 
Fidelity Securities Lending Cash Central Fund 1.10% (e)(f) 34,548,568 34,555 
TOTAL MONEY MARKET FUNDS   
(Cost $95,650)  95,650 
TOTAL INVESTMENT IN SECURITIES - 102.4%   
(Cost $1,198,950)  1,564,292 
NET OTHER ASSETS (LIABILITIES) - (2.4)%  (36,612) 
NET ASSETS - 100%  $1,527,680 

Legend

 (a) Non-income producing

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

 (c) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $9,042,000 or 0.6% of net assets.

 (d) Level 3 security

 (e) Affiliated fund that is generally 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.

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


Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
AppNexus, Inc. Series E 8/1/14 $966 
Blu Homes, Inc. Series A, 5.00% 6/21/13 $1,108 
Uber Technologies, Inc. Series D, 8.00% 6/6/14 $2,522 

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 $167 
Fidelity Securities Lending Cash Central Fund 274 
Total $441 

Investment Valuation

The following is a summary of the inputs used, as of September 30, 2017, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Consumer Discretionary $191,370 $174,138 $17,230 $2 
Consumer Staples 110,769 100,139 10,630 -- 
Energy 24,344 24,344 -- -- 
Financials 136,631 135,697 934 -- 
Health Care 167,408 163,699 3,709 -- 
Industrials 102,108 102,108 -- -- 
Information Technology 645,093 620,309 15,744 9,040 
Materials 31,998 31,998 -- -- 
Real Estate 58,921 58,921 -- -- 
Money Market Funds 95,650 95,650 -- -- 
Total Investments in Securities: $1,564,292 $1,507,003 $48,247 $9,042 

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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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.




Item 2.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Hastings Street Trusts (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 Trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trusts last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trusts 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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

November 28, 2017


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/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

November 28, 2017



By:

/s/Howard J. Galligan III


Howard J. Galligan III


Chief Financial Officer



Date:

November 28, 2017