N-Q 1 main.htm

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3221

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

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

Eric D. Roiter, Secretary

82 Devonshire St.

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

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

Date of fiscal year end:

October 31

Date of reporting period:

January 31, 2008

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Global Balanced Fund

January 31, 2008

1.813033.103

GBL-QTLY-0308

Investments January 31, 2008 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 57.2%

Shares

Value

Argentina - 0.0%

Cresud S.A.C.I.F. y A. sponsored ADR

9,500

$ 164,160

Australia - 4.0%

ASX Ltd.

24,083

1,021,397

Babcock & Brown Ltd.

27,991

450,511

BHP Billiton Ltd.

34,034

1,149,839

Commonwealth Bank of Australia

24,438

1,082,469

Computershare Ltd.

143,088

1,016,135

CSL Ltd.

128,387

3,932,438

Macquarie Group Ltd.

14,286

832,620

Newcrest Mining Ltd.

26,000

814,320

QBE Insurance Group Ltd.

38,990

971,899

Sunland Group Ltd.

319,624

962,945

Toll Holdings Ltd.

24,504

241,687

United Group Ltd.

33,501

454,485

Woolworths Ltd.

42,913

1,108,165

WorleyParsons Ltd.

30,489

1,073,288

TOTAL AUSTRALIA

15,112,198

Belgium - 0.3%

Fortis

24,600

550,319

InBev SA

6,600

544,769

TOTAL BELGIUM

1,095,088

Bermuda - 0.4%

Aquarius Platinum Ltd. (United Kingdom)

25,700

310,751

Brookfield Infrastructure Partners LP

164

3,444

Bunge Ltd.

410

48,573

Covidien Ltd.

20,000

892,600

SeaDrill Ltd. (a)

21,900

458,941

TOTAL BERMUDA

1,714,309

Brazil - 0.0%

Bolsa de Mercadorias & Futuros - BM&F SA

24,900

224,369

Canada - 2.3%

Aeroplan Income Fund

1,300

26,426

Agrium, Inc.

700

45,158

Alimentation Couche-Tard, Inc. Class B (sub. vtg.)

2,800

47,236

AltaGas Income Trust

1,600

37,228

B2Gold Corp.

8,900

16,407

Bank of Montreal

5,100

288,401

Barrick Gold Corp.

3,000

154,880

BCE, Inc.

3,900

135,667

Common Stocks - continued

Shares

Value

Canada - continued

Bombardier, Inc. Class B (sub. vtg.) (a)

39,300

$ 193,847

Brookfield Asset Management, Inc. Class A

4,200

138,488

Brookfield Properties Corp.

2,500

50,775

CAE, Inc.

6,300

70,813

Cameco Corp.

1,900

64,371

Canadian Imperial Bank of Commerce

1,100

80,290

Canadian National Railway Co.

1,200

60,756

Canadian Natural Resources Ltd.

5,000

319,914

Canadian Oil Sands Trust

4,800

181,755

Canadian Tire Corp. Ltd. Class A (non-vtg.)

400

25,693

CGI Group, Inc. Class A (sub. vtg.) (a)

4,500

45,065

CI Financial Income Fund

1,500

32,435

Corus Entertainment, Inc. Class B (non-vtg.)

2,000

43,386

Duvernay Oil Corp. (a)

800

24,951

EnCana Corp.

5,300

349,566

Finning International, Inc.

3,300

86,582

Flint Energy Services Ltd. (a)

900

14,797

Fording Canadian Coal Trust

1,000

44,841

Galleon Energy, Inc. Class A (a)

1,600

22,895

Garda World Security Corp. (a)

2,500

36,396

Gildan Activewear, Inc. (a)

4,300

158,923

Goldcorp, Inc.

7,000

260,455

Great Canadian Gaming Corp. (a)

2,500

32,260

Harry Winston Diamond Corp.

800

19,730

Husky Energy, Inc.

3,100

128,473

ING Canada, Inc.

1,200

41,254

Keyera Facilities Income Fund

2,200

38,693

Kinross Gold Corp. (a)

8,700

192,023

MacDonald Dettwiler & Associates Ltd. (a)

1,500

67,515

Manulife Financial Corp.

9,800

369,325

Mecachrome International, Inc. (a)(g)

600

5,590

Metro, Inc. Class A (sub. vtg.)

1,500

35,499

Miranda Technologies, Inc. (a)

1,400

14,592

National Bank of Canada

2,200

110,773

Nexen, Inc.

3,300

94,507

Niko Resources Ltd.

1,100

93,290

Noveko International, Inc. (a)

4,000

32,923

Onex Corp. (sub. vtg.)

800

24,067

Open Text Corp. (a)

1,500

46,560

Orezone Resources, Inc. Class A (a)

22,300

31,776

Petro-Canada

2,900

131,859

Potash Corp. of Saskatchewan, Inc.

2,700

380,376

Common Stocks - continued

Shares

Value

Canada - continued

Power Corp. of Canada (sub. vtg.)

2,700

$ 95,780

Quebecor, Inc. Class B (sub. vtg.)

2,200

69,362

Research In Motion Ltd. (a)

6,500

610,220

Rogers Communications, Inc. Class B (non-vtg.)

7,100

271,605

Royal Bank of Canada

7,600

383,578

Saskatchewan Wheat Pool, Inc. (a)

4,500

52,374

Shoppers Drug Mart Corp.

2,900

141,886

Shore Gold, Inc. (a)

6,200

22,550

SNC-Lavalin Group, Inc.

6,900

296,888

Sun Life Financial, Inc.

2,000

98,949

Suncor Energy, Inc.

4,400

413,891

Talisman Energy, Inc.

6,100

96,404

TELUS Corp. (non-vtg.)

1,300

54,666

Toronto-Dominion Bank

6,100

413,393

TransCanada Corp.

8,900

350,927

TransForce Income Fund

1,500

13,901

TSX Group, Inc.

1,000

45,837

Uranium One, Inc. (a)

3,500

24,344

Yamana Gold, Inc.

9,200

152,638

Yellow Pages Income Fund

6,700

80,182

TOTAL CANADA

8,638,857

Cayman Islands - 0.1%

Foxconn International Holdings Ltd. (a)

228,000

376,031

Pacific Online Ltd.

49,000

12,065

TOTAL CAYMAN ISLANDS

388,096

Cyprus - 0.2%

Bank of Cyprus Public Co. Ltd.

41,900

654,422

Marfin Popular Bank Public Co.

22,800

231,251

TOTAL CYPRUS

885,673

Denmark - 0.1%

Vestas Wind Systems AS (a)

2,600

252,570

Finland - 0.5%

Neste Oil Oyj

14,500

465,678

Nokia Corp. sponsored ADR

35,500

1,311,725

TOTAL FINLAND

1,777,403

France - 2.6%

Alstom SA

2,600

525,126

AXA SA

17,900

614,328

Common Stocks - continued

Shares

Value

France - continued

BNP Paribas SA

6,500

$ 644,871

Electricite de France

5,500

573,722

Eutelsat Communications

22,400

594,917

Groupe Danone

10,300

836,875

Pernod Ricard SA

6,800

723,529

Pinault Printemps-Redoute SA

3,500

492,677

Remy Cointreau SA

6,400

386,064

Renault SA

2,700

308,220

Societe Generale Series A

2,000

251,267

Suez SA (France)

14,200

859,100

Total SA sponsored ADR

22,800

1,659,384

Veolia Environnement

10,012

823,667

Vivendi

14,663

590,953

TOTAL FRANCE

9,884,700

Germany - 2.5%

Adidas-Salomon AG

10,800

688,953

Bayer AG

11,400

934,800

Continental AG

4,500

467,316

Deutsche Boerse AG

4,400

770,028

E.ON AG

7,500

1,394,318

K&S AG

800

202,406

Linde AG

5,300

691,684

Muenchener Rueckversicherungs-Gesellschaft AG (Reg.)

4,500

808,626

RWE AG (f)

8,800

1,080,435

SAP AG sponsored ADR (f)

9,100

434,980

Siemens AG (Reg.)

11,400

1,479,720

SolarWorld AG

9,800

434,564

TOTAL GERMANY

9,387,830

Greece - 0.1%

Public Power Corp. of Greece

8,600

403,357

Hong Kong - 1.4%

Hang Seng Bank Ltd.

63,600

1,249,578

Hong Kong Exchanges & Clearing Ltd.

43,500

897,063

Li & Fung Ltd.

286,000

1,063,681

Sun Hung Kai Properties Ltd.

60,000

1,173,461

Swire Pacific Ltd. (A Shares)

56,500

768,072

TOTAL HONG KONG

5,151,855

Common Stocks - continued

Shares

Value

Ireland - 0.3%

Anglo Irish Bank Corp. plc

35,300

$ 501,557

CRH PLC

13,300

505,030

TOTAL IRELAND

1,006,587

Italy - 0.9%

Fiat SpA

21,600

505,483

Finmeccanica SpA

12,700

379,659

IFIL Finanziaria di Partecipazioni SpA

8,236

66,598

Intesa Sanpaolo SpA

172,200

1,225,849

Prysmian SpA

10,600

212,972

UniCredit SpA

121,000

893,627

TOTAL ITALY

3,284,188

Japan - 4.9%

ABC-Mart, Inc.

6,500

161,690

Asahi Glass Co. Ltd.

45,000

560,331

Astellas Pharma, Inc.

10,500

455,234

Atlus Co. Ltd. (a)

22,600

128,590

Bridgestone Corp.

19,800

335,369

Canon, Inc.

3,800

161,766

Capcom Co. Ltd.

4,300

104,336

Central Japan Ry Co.

55

508,464

Daihen Corp.

13,000

58,196

Daiichi Sankyo Co. Ltd.

7,000

210,007

East Japan Railway Co.

77

636,537

Fuji Machine Manufacturing Co. Ltd.

5,200

100,498

Fujitsu Ltd.

75,000

486,692

Haseko Corp. (a)

8,500

14,389

Hitachi Ltd.

85,000

638,265

Hitachi Metals Ltd.

31,000

407,580

Hitachi Software Engineerng Co. Ltd.

6,100

146,290

Honda Motor Co. Ltd.

12,100

381,634

Ito En Ltd.

8,800

189,523

Japan Tobacco, Inc.

123

645,481

Kansai Electric Power Co., Inc.

25,000

625,411

Konica Minolta Holdings, Inc.

17,000

272,595

Kuraray Co. Ltd.

12,000

142,989

Lawson, Inc.

7,700

275,181

Matsumotokiyoshi Holdings Co. Ltd.

5,800

139,913

Millea Holdings, Inc.

8,400

318,780

Miraca Holdings, Inc.

6,300

157,307

Mitsubishi Corp.

20,900

546,431

Common Stocks - continued

Shares

Value

Japan - continued

Mitsubishi Electric Corp.

8,000

$ 72,830

Mitsui & Co. Ltd.

21,000

419,684

Mitsui Chemicals, Inc.

27,000

180,542

Mitsui O.S.K. Lines Ltd.

21,000

255,563

Mizuho Financial Group, Inc.

39

182,658

Namco Bandai Holdings, Inc.

12,400

172,362

New City Residence Investment Corp.

88

337,666

Nikon Corp.

9,000

245,462

Nintendo Co. Ltd.

1,500

741,000

Nippon Mining Holdings, Inc.

32,500

191,338

Nomura Holdings, Inc.

4,000

58,560

NTT DoCoMo, Inc.

320

506,880

Okinawa Cellular Telephone Co.

126

238,183

Osaka Securities Exchange Co. Ltd.

18

97,338

Sankei Building Co. Ltd. (f)

34,200

330,968

SHO-BOND Holdings Co. Ltd.

15,200

188,124

Sony Corp.

19,900

945,051

Sumitomo Electric Industries Ltd.

19,200

280,245

Sumitomo Mitsui Financial Group, Inc.

164

1,292,505

Sumitomo Trust & Banking Co. Ltd.

67,000

424,697

Takashimaya Co. Ltd.

11,000

117,107

The Sumitomo Warehouse Co. Ltd.

16,000

84,266

THK Co. Ltd.

9,000

178,595

Tohokushinsha Film Corp.

7,500

84,642

Tokai Carbon Co. Ltd.

22,000

172,143

Tokyo Tomin Bank Ltd.

2,300

63,919

Toyota Motor Corp.

24,500

1,329,738

Uni-Charm Corp.

6,900

454,895

TOTAL JAPAN

18,456,440

Luxembourg - 0.2%

ArcelorMittal SA (France)

10,800

716,837

Mexico - 1.0%

America Movil SAB de CV Series L sponsored ADR

62,800

3,762,348

Netherlands - 0.7%

Koninklijke KPN NV

53,400

969,325

Unilever NV (NY Shares)

52,000

1,691,040

TOTAL NETHERLANDS

2,660,365

Norway - 0.5%

Orkla ASA (A Shares)

23,450

310,515

Petroleum Geo-Services ASA

19,850

426,577

Common Stocks - continued

Shares

Value

Norway - continued

Pronova BioPharma ASA

118,600

$ 429,734

Renewable Energy Corp. AS (a)

10,600

277,113

Telenor ASA

17,000

346,800

TOTAL NORWAY

1,790,739

Papua New Guinea - 0.0%

Lihir Gold Ltd. (a)

66,601

222,150

Russia - 0.2%

OAO Gazprom sponsored ADR

14,400

702,720

Singapore - 1.1%

DBS Group Holdings Ltd.

81,000

993,493

Keppel Corp. Ltd.

131,000

1,046,521

Raffles Education Corp. Ltd.

430,000

713,126

Rickmers Maritime

703,000

525,886

Singapore Exchange Ltd.

120,000

812,985

TOTAL SINGAPORE

4,092,011

Spain - 0.7%

Banco Santander SA

27,300

483,009

Compania de Distribucion Integral Logista SA

1,300

102,800

Inditex SA

8,200

412,022

Telefonica SA sponsored ADR

18,500

1,624,300

TOTAL SPAIN

2,622,131

Sweden - 0.3%

Atlas Copco AB (A Shares)

26,800

377,880

H&M Hennes & Mauritz AB (B Shares)

9,000

487,890

TELE2 AB (B Shares)

21,000

430,566

TOTAL SWEDEN

1,296,336

Switzerland - 2.5%

ABB Ltd. (Reg.)

31,311

783,061

Credit Suisse Group (Reg.)

4,019

228,159

Julius Baer Holding AG

8,404

590,279

Lindt & Spruengli AG

21

681,734

Nestle SA (Reg.)

4,089

1,839,232

Novartis AG (Reg.)

20,934

1,059,470

Roche Holding AG (participation certificate)

14,266

2,609,537

Sonova Holding AG

6,698

598,710

Syngenta AG sponsored ADR

14,100

743,634

UBS AG (NY Shares)

4,700

194,063

TOTAL SWITZERLAND

9,327,879

Common Stocks - continued

Shares

Value

United Kingdom - 4.2%

3i Group plc

23,475

$ 439,684

Autonomy Corp. PLC (a)

6,300

115,140

Barclays PLC

19,600

184,877

BG Group PLC

77,900

1,702,894

easyJet PLC (a)

25,900

242,682

GlaxoSmithKline PLC

31,300

741,497

HSBC Holdings PLC sponsored ADR

15,300

1,150,254

Kesa Electricals PLC

28,000

134,692

Lloyds TSB Group PLC

39,900

348,470

Man Group plc

48,500

534,001

Misys PLC

58,300

203,400

Reckitt Benckiser Group PLC

23,600

1,236,199

Rio Tinto PLC (Reg.)

9,600

976,680

Royal Bank of Scotland Group PLC

42,300

326,120

Royal Dutch Shell PLC Class A (United Kingdom)

86,300

3,094,049

Signet Group PLC

158,100

207,259

Standard Chartered PLC (United Kingdom)

25,400

851,770

Tesco PLC

67,600

565,120

Tullow Oil PLC

23,900

286,382

Vodafone Group PLC

215,300

749,244

Vodafone Group PLC sponsored ADR

29,000

1,009,200

Xstrata PLC

9,800

754,551

TOTAL UNITED KINGDOM

15,854,165

United States of America - 25.2%

Albemarle Corp.

73,900

2,679,614

Altria Group, Inc.

14,000

1,061,480

American Capital Strategies Ltd. (f)

19,000

668,230

American International Group, Inc.

47,300

2,609,068

American Tower Corp. Class A (a)

700

26,271

Amphenol Corp. Class A

16,000

639,040

Amylin Pharmaceuticals, Inc. (a)

10,900

323,185

Apple, Inc. (a)

7,900

1,069,344

Applied Materials, Inc.

35,000

627,200

AT&T, Inc.

12,400

477,276

Avnet, Inc. (a)

12,000

427,320

Bank of America Corp.

63,400

2,811,790

Bank of New York Mellon Corp.

55,000

2,564,650

BB&T Corp.

5,000

181,400

Burlington Northern Santa Fe Corp.

22,000

1,903,440

Cabot Oil & Gas Corp.

26,800

1,036,892

Capital One Financial Corp.

11,000

602,910

Common Stocks - continued

Shares

Value

United States of America - continued

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

21,300

$ 413,433

Cisco Systems, Inc. (a)

77,950

1,909,775

Citigroup, Inc.

40,800

1,151,376

Cohen & Steers, Inc.

5,000

142,450

CVS Caremark Corp.

18,000

703,260

D.R. Horton, Inc.

124,000

2,139,000

Drew Industries, Inc. (a)

13,000

352,170

Eaton Corp.

49,200

4,071,792

Eaton Vance Corp. (non-vtg.)

23,000

857,210

Fannie Mae

23,500

795,710

First Horizon National Corp.

8,000

173,360

First Marblehead Corp.

17,000

279,480

General Growth Properties, Inc.

35,000

1,278,200

Gilead Sciences, Inc. (a)

46,200

2,110,878

Google, Inc. Class A (sub. vtg.) (a)

4,204

2,372,317

Harley-Davidson, Inc.

22,000

892,760

Hess Corp.

7,000

635,810

Hewlett-Packard Co.

13,300

581,875

IndyMac Bancorp, Inc.

44,000

359,480

J.B. Hunt Transport Services, Inc.

12,200

379,420

Johnson Controls, Inc.

29,600

1,046,952

Lehman Brothers Holdings, Inc.

30,700

1,970,019

Marshall & Ilsley Corp.

16,000

446,400

Masco Corp.

33,700

772,741

McGraw-Hill Companies, Inc.

16,000

684,160

Medco Health Solutions, Inc. (a)

30,000

1,502,400

Merrill Lynch & Co., Inc.

7,700

434,280

Microsoft Corp.

119,000

3,879,400

Norfolk Southern Corp.

75,000

4,079,250

NRG Energy, Inc. (a)

68,200

2,631,838

Omniture, Inc. (a)

45,300

1,119,816

Oracle Corp. (a)

79,900

1,641,945

PACCAR, Inc.

9,000

422,280

Polo Ralph Lauren Corp. Class A

54,000

3,271,860

Popular, Inc.

27,000

365,040

PPL Corp.

44,900

2,196,508

Quicksilver Resources, Inc. (a)

13,350

758,681

Range Resources Corp.

46,000

2,402,120

Raytheon Co. warrants 6/16/11 (a)

112

3,199

Ryder System, Inc.

14,000

728,840

SLM Corp.

68,400

1,487,700

Southwestern Energy Co. (a)

85,000

4,752,350

Common Stocks - continued

Shares

Value

United States of America - continued

State Street Corp.

33,500

$ 2,751,020

Synovus Financial Corp.

27,000

356,670

T. Rowe Price Group, Inc.

84,000

4,249,560

The Coca-Cola Co.

8,000

473,360

Thor Industries, Inc.

15,000

529,800

Tim Hortons, Inc.

1,100

37,675

Transocean, Inc. (a)

2,000

245,200

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

17,000

684,250

Union Pacific Corp.

8,300

1,037,749

URS Corp. (a)

12,426

545,501

Valero Energy Corp.

600

35,514

Wachovia Corp.

20,000

778,600

Wal-Mart Stores, Inc.

46,000

2,340,480

Whirlpool Corp.

11,000

936,210

Wilmington Trust Corp., Delaware

27,100

944,977

Zions Bancorp

23,000

1,259,020

TOTAL UNITED STATES OF AMERICA

95,112,231

TOTAL COMMON STOCKS

(Cost $208,867,159)

215,987,592

Preferred Stocks - 0.2%

Convertible Preferred Stocks - 0.1%

United States of America - 0.1%

Bank of America Corp. Series L, 7.25%

500

556,175

Nonconvertible Preferred Stocks - 0.1%

Italy - 0.1%

Istituto Finanziario Industriale SpA (IFI) (a)

7,800

228,493

TOTAL PREFERRED STOCKS

(Cost $680,691)

784,668

Corporate Bonds - 10.7%

Principal Amount (d)

Convertible Bonds - 0.1%

United Kingdom - 0.1%

Shire PLC 2.75% 5/9/14

$ 300,000

283,050

Corporate Bonds - continued

Principal Amount (d)

Value

Nonconvertible Bonds - 10.6%

Australia - 0.0%

QBE Capital Funding II LP 6.797% (g)(i)

$ 130,000

$ 122,409

Bermuda - 0.1%

Northern Offshore Ltd. 9.6113% 6/14/10 (g)(i)

100,000

96,750

Sea Production Ltd. 9.12% 2/14/12 (g)(i)

100,000

95,000

SeaDrill Ltd. 6.97% 1/23/09 (g)(i)

NOK

1,000,000

183,942

TOTAL BERMUDA

375,692

British Virgin Islands - 0.0%

CEMEX SAB de CV 6.196% (i)

100,000

97,310

Cayman Islands - 0.3%

Cullinan Finance Ltd. 4.608% 8/5/08 (i)

EUR

200,000

296,962

Finans Capital Finance Ltd. 9% 10/7/14 (Reg. S) (e)

160,000

166,246

MUFG Capital Finance 5 Ltd. 6.299% (i)

GBP

100,000

184,673

PetroProd Ltd. 10.3769% 1/12/12 (g)(i)

100,000

92,500

SMFG Finance Ltd. 6.164% (i)

GBP

75,000

130,666

Vale Overseas Ltd. 6.875% 11/21/36

325,000

301,044

TOTAL CAYMAN ISLANDS

1,172,091

Cyprus - 0.1%

Colgrade Ltd. 8.25% 6/28/10

380,000

361,171

Mizuho Capital Investment Europe 1 Ltd. 5.02% (i)

EUR

100,000

135,283

TOTAL CYPRUS

496,454

France - 1.9%

BNP Paribas SA 5.215% 11/23/15 (i)

200,000

197,318

Caisse Nationale des Caisses d' Epargne et de Prevoyance 6.117% (i)

EUR

150,000

207,111

CMA CGM SA 5.5% 5/16/12 (Reg. S)

EUR

195,000

234,084

Compagnie de Financement Foncier 4.625% 9/23/17

EUR

1,700,000

2,561,789

Compagnie de St. Gobain 4.847% 4/11/12 (i)

EUR

175,000

251,317

Credit Agricole SA 4.486% 1/19/10 (i)

EUR

800,000

1,185,884

Dexia Municipal Agency 4.5% 11/13/17

EUR

1,450,000

2,173,973

France Telecom SA 4.375% 2/21/12

EUR

100,000

145,995

Natixis SA 4.552% 1/26/17 (i)

EUR

100,000

137,721

Societe Generale 6.999%

EUR

100,000

147,378

TOTAL FRANCE

7,242,570

Germany - 0.3%

Bayer AG:

4.698% 4/10/10 (i)

EUR

200,000

294,520

Corporate Bonds - continued

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Germany - continued

Bayer AG: - continued

5.625% 5/23/18

GBP

150,000

$ 279,471

BayernLB Capital Trust I 6.2032% (i)

250,000

214,478

Muenchener Rueckversicherungs-Gesellschaft AG 5.767% (i)

EUR

250,000

347,426

Wuerttembergische Lebens AG 5.375% 6/1/26 (i)

EUR

100,000

143,775

TOTAL GERMANY

1,279,670

Hong Kong - 0.2%

Chong Hing Bank Ltd. 5.9206% 12/16/16 (i)

175,000

173,595

Dah Sing Bank Ltd. 5.8738% 6/3/16 (i)

250,000

241,875

Wing Hang Bank Ltd. 6% (i)

260,000

256,599

TOTAL HONG KONG

672,069

India - 0.1%

Export-Import Bank of India 1.5081% 6/7/12 (i)

JPY

40,000,000

374,645

ICICI Bank Ltd. 4.9169% 1/12/10 (Reg. S) (i)

125,000

119,065

TOTAL INDIA

493,710

Ireland - 0.5%

Ardagh Glass Group plc 10.75% 3/1/15 pay-in-kind

EUR

94,837

125,365

Bank of Ireland UK Holdings PLC 7.4% (i)

EUR

400,000

601,025

JSC Vneshtorgbank 7% 4/13/09 (Issued by Dali Capital PLC for JSC Vneshtorgbank)

RUB

7,000,000

285,118

ROSBANK (OJSC JSCB) 8% 9/30/09 (Issued by Dali Capital PLC for ROSBANK (OJSC JSCB))

RUB

3,800,000

151,278

Saphir Finance PLC 6.8509% (i)

GBP

50,000

34,801

TransCapitalInvest Ltd. 5.67% 3/5/14 (Reg. S)

400,000

384,464

VTB24 Capital PLC 5.9706% 12/7/09 (i)

270,000

259,686

TOTAL IRELAND

1,841,737

Italy - 0.3%

Banca Italease SpA 4.803% 2/2/10 (i)

EUR

400,000

555,245

IFIL Finanziaria di Partecipazioni SpA 5.375% 6/12/17

EUR

150,000

203,366

Intesa Sanpaolo SpA 6.375% 11/12/17 (i)

GBP

150,000

294,895

TOTAL ITALY

1,053,506

Kazakhstan - 0.2%

Alliance Bank JSC 9% 6/27/08

360,000

360,792

Corporate Bonds - continued

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Kazakhstan - continued

ATF Bank JSC 8.875% 11/9/09

$ 200,000

$ 200,672

Bank Caspian JSC 7.875% 10/17/08

100,000

96,786

TOTAL KAZAKHSTAN

658,250

Korea (South) - 0.2%

GS Caltex Corp. 5.5% 4/24/17 (Reg. S)

300,000

279,840

Hyundai Capital Services, Inc. 5.625% 1/24/12

200,000

192,586

Woori Bank 6.208% 5/2/67 (Reg. S) (i)

300,000

249,435

TOTAL KOREA (SOUTH)

721,861

Luxembourg - 0.8%

Fiat Finance & Trade Ltd. 5.625% 11/15/11

EUR

100,000

147,728

Gaz Capital SA (Luxembourg) 6.58% 10/31/13

GBP

100,000

188,732

Glencore Finance (Europe) SA:

6.5% 2/27/19

GBP

200,000

375,245

8%

450,000

433,755

ICB OJSC 6.2% 9/29/15 (Issued by Or-ICB for ICB OJSC) (i)

500,000

486,690

Lux-Development SA 6.1% 10/31/16 (e)

EUR

200,000

296,028

RBD Capital SA 6.5% 8/11/08

400,000

400,280

Russian Standard Finance SA 6.825% 9/16/09

EUR

150,000

210,048

TNK-BP Finance SA 7.5% 7/18/16

250,000

242,438

VTB Capital SA 6.66% 11/2/09 (i)

175,000

172,375

TOTAL LUXEMBOURG

2,953,319

Malaysia - 0.1%

IOI Ventures (L) Bhd 5.25% 3/16/15

300,000

291,402

Multi-National - 0.1%

WT Finance (Aust) Pty Ltd./Westfield Europe Finance PLC/WEA Finance 3.625% 6/27/12

EUR

200,000

259,517

Netherlands - 1.0%

ALB Finance BV 8.75% 4/20/11

100,000

85,461

ASML Holding NV 5.75% 6/13/17

EUR

250,000

328,850

Asset Repackaging Trust Five BV 12.009% 12/21/11 pay-in-kind (i)

EUR

106,713

151,537

BOATS Investments (Netherlands) BV 11% 3/31/17 pay-in-kind

EUR

274,220

384,272

CenterCredit International BV 8.625% 1/30/14 (Reg. S)

100,000

89,750

Deutsche Telekom International Finance BV 6.625% 7/11/11 (i)

EUR

125,000

195,763

Corporate Bonds - continued

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Netherlands - continued

EDP Finance BV 5.375% 11/2/12

$ 200,000

$ 205,710

Eureko BV 5.125% (i)

EUR

200,000

268,454

HeidelbergCement Finance BV 6.375% 1/25/12

EUR

300,000

446,031

Intergas Finance BV 6.375% 5/14/17 (Reg. S)

300,000

267,750

Invitel Holdings NN 12.826% 4/15/13 (Reg. S) (i)

EUR

200,000

267,651

Media Nusantara Citra BV 10.75% 9/12/11

148,958

155,274

SABIC Europe BV 4.5% 11/28/13

EUR

200,000

272,549

Siemens Financieringsmaatschap NV 6.125% 9/14/66 (i)

GBP

150,000

279,692

TuranAlem Finance BV 6.25% 9/27/11

EUR

250,000

314,185

TOTAL NETHERLANDS

3,712,929

Norway - 0.9%

Africa Offshore Services AS 10.83% 6/29/12 (g)(i)

100,000

95,500

Aker Floating Production ASA 8.14% 7/3/08 (i)

100,000

100,000

DDI Holding AS:

9.3% 1/19/12 (j)

89,201

89,201

10.2594% 3/15/12 (g)(i)

100,000

101,550

Kommunalbanken AS 5.125% 5/30/12

1,900,000

2,029,922

MPF Corp. (Norway) AS 11.6763% 9/20/11 (g)(i)

200,000

190,000

MPU-Multi Purpose Unit-Offshore Lift ASA 10.67% 12/22/11 (g)(i)

NOK

1,000,000

187,640

OffRig Drilling ASA 9.75% 4/27/11 (g)

100,000

98,500

Petromena AS 10.85% 11/19/10 (g)

100,000

96,000

ProdJack AS:

11.25% 2/22/13 (g)

100,000

95,000

11.25% 3/8/13 (g)

100,000

94,500

Sevan Marine ASA 9.25% 12/20/11 (g)

100,000

100,000

Sinvest ASA 11.99% 12/22/09 (g)(i)

NOK

1,500,000

286,817

TOTAL NORWAY

3,564,630

Russia - 0.1%

Bank St. Petersburg 9.501% 11/25/09 (Issued by BSPB Finance PLC for Bank St. Petersburg)

250,000

244,863

Raspadskaya Securities Ltd. 7.5% 5/22/12

300,000

291,180

TOTAL RUSSIA

536,043

Spain - 0.2%

Bancaja Emisiones SA 4.625% (i)

EUR

275,000

311,898

Corporate Bonds - continued

Principal Amount (d)

Value

Nonconvertible Bonds - continued

Spain - continued

Santander Issuances SA Unipersonal 4.663% 7/25/17 (i)

EUR

150,000

$ 211,165

Telefonica Emisiones SAU 5.888% 1/31/14

GBP

100,000

195,871

TOTAL SPAIN

718,934

Sweden - 0.2%

PA Resources AB 9.5% 1/9/09 (g)

100,000

99,500

Svenska Handelsbanken AB 5.1406% 3/15/16 (i)

200,000

194,189

Telefonaktiebolaget LM Ericsson 7.875% 6/5/08 (i)

GBP

200,000

399,367

TOTAL SWEDEN

693,056

United Kingdom - 1.1%

Alliance & Leicester PLC 4.25% 12/30/08

GBP

170,000

328,826

Amlin PLC 6.5% 12/19/26 (i)

GBP

125,000

226,676

Getin Finance PLC 6.589% 5/13/09 (i)

EUR

100,000

144,071

ICICI Bank UK PLC 5.66% 2/27/12 (i)

125,000

118,110

Lloyds TSB Group PLC 6.267% (g)(i)

200,000

176,868

Novae Group plc 8.375% 4/27/17 (i)

GBP

50,000

101,279

Old Mutual plc 4.5% 1/18/17 (i)

EUR

150,000

210,418

Rexam PLC 4.375% 3/15/13 (g)

EUR

250,000

345,580

Royal Bank of Scotland Group PLC 4.8788% 10/1/08 (i)

1,500,000

1,502,405

Royal Bank of Scotland PLC 4.0175% 7/24/14 (i)

200,000

197,821

UBS AG, Jersey 4.1013% 4/18/16 (i)

200,000

192,087

Ukrsotsbank 8% 2/22/10 (Issued by Credit Suisse First Boston International for Ukrsotsbank)

300,000

300,105

Vodafone Group PLC 5.32% 2/27/12 (i)

160,000

154,082

TOTAL UNITED KINGDOM

3,998,328

United States of America - 1.9%

BA Covered Bond 4.125% 4/5/12

EUR

1,700,000

2,500,085

Banca Popolare di Lodi Investor Trust III 6.742% (i)

EUR

200,000

279,398

BSP Finance BV 10.75% 11/1/11

100,000

96,000

DaimlerChrysler NA Holding Corp.:

4.375% 3/16/10

EUR

250,000

368,949

5.5413% 3/13/09 (i)

100,000

99,344

General Electric Co. 5.25% 12/6/17

200,000

201,761

HVB Funding Trust VIII 7.055% (i)

EUR

800,000

1,194,532

Morgan Stanley 4.711% 7/20/12 (i)

EUR

430,000

599,471

Procter & Gamble Co. 5.125% 10/24/17

EUR

150,000

225,535

Schering-Plough Corp. 5.375% 10/1/14

EUR

200,000

298,586

Corporate Bonds - continued

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

SLM Corp.:

5.098% 6/15/09 (i)

EUR

100,000

$ 137,706

5.148% 12/15/10 (i)

EUR

200,000

256,630

WaMu Covered Bond Program 4.375% 5/19/14

EUR

550,000

787,440

TOTAL UNITED STATES OF AMERICA

7,045,437

TOTAL NONCONVERTIBLE BONDS

40,000,924

TOTAL CORPORATE BONDS

(Cost $39,482,832)

40,283,974

Government Obligations - 26.0%

Canada - 0.9%

Canadian Government 5.25% 6/1/12

CAD

3,250,000

3,463,255

Finland - 0.5%

Finnish Government 3.875% 9/15/17

EUR

1,350,000

1,983,093

France - 2.3%

French Republic:

1% 7/25/17

EUR

1,877,400

2,582,029

5.5% 4/25/29

EUR

3,590,000

6,059,868

TOTAL FRANCE

8,641,897

Germany - 6.6%

German Federal Republic:

3.75% 1/4/17

EUR

6,000,000

8,831,680

4% 7/4/16

EUR

637,500

954,718

4.25% 7/4/14

EUR

10,000,000

15,313,807

TOTAL GERMANY

25,100,205

Ireland - 0.2%

Irish Republic 4.5% 10/18/18

EUR

450,000

688,465

Italy - 0.6%

Italian Republic 6% 5/1/31

EUR

1,210,000

2,105,975

Japan - 11.5%

Japan Government:

0.5466% to 0.5928% 2/4/08 to 5/8/08

JPY

1,100,000,000

10,337,083

0.92% 11/20/20 (i)

JPY

225,000,000

2,044,320

Government Obligations - continued

Principal Amount (d)

Value

Japan - continued

Japan Government: - continued

1.3% 12/20/11

JPY

210,000,000

$ 2,012,884

1.3% 3/20/15

JPY

900,000,000

8,582,630

1.5% 3/20/14

JPY

400,000,000

3,870,629

1.9% 6/20/16

JPY

660,000,000

6,533,584

2.5% 9/20/36

JPY

350,000,000

3,383,015

2.5% 9/20/37

JPY

150,000,000

1,446,887

Real Return Bond 1.1% 12/10/16

JPY

573,144,000

5,412,294

TOTAL JAPAN

43,623,326

United Kingdom - 0.9%

UK Treasury GILT 5% 3/7/18

GBP

1,575,000

3,264,844

United States of America - 2.5%

U.S. Treasury Bonds 5% 5/15/37

300,000

332,273

U.S. Treasury Inflation-Indexed Notes 1.625% 1/15/15

2,256,046

2,344,876

U.S. Treasury Notes:

3.375% 12/15/08

465,000

469,904

4.375% 8/15/12

185,000

198,109

4.625% 2/29/12

130,000

140,024

4.75% 5/31/12

2,020,000

2,187,755

5% 8/15/11

2,500,000

2,714,063

5.125% 5/15/16

855,000

952,991

TOTAL UNITED STATES OF AMERICA

9,339,995

TOTAL GOVERNMENT OBLIGATIONS

(Cost $92,042,541)

98,211,055

U.S. Government Agency - Mortgage Securities - 0.6%

Fannie Mae - 0.6%

6% 2/1/38 (h)
(Cost $2,299,922)

2,250,000

2,309,370

Asset-Backed Securities - 0.7%

Bosphorus Financial Services Ltd. 6.6688% 2/15/12 (Reg. S) (i)

250,000

246,250

Clock Finance BV Series 2007-1 Class B2, 4.847% 2/25/15 (i)

EUR

100,000

140,010

Asset-Backed Securities - continued

Principal Amount (d)

Value

Mermaid Secured Finance Ltd. Series 2007-1:

Class C, 4.678% 1/30/40 (i)

EUR

50,000

$ 72,221

Class D, 4.878% 1/30/40 (i)

EUR

100,000

142,331

Preferred Term Securities XII Ltd. 6.6106% 12/24/33 (g)(i)

400,000

378,000

Preferred Term Securities XXIII Ltd. 5.1906% 12/22/36 (g)(i)

328,008

302,587

Prime Bricks Series 2007-1:

Class B, 4.678% 1/30/40 (i)

EUR

50,000

72,221

Class C, 4.878% 1/30/40 (i)

EUR

50,000

71,165

Promise K 2006-1 GmbH Series I 2006-1 Class D, 5.554% 3/10/17 (i)

EUR

100,000

133,930

Provide Bricks Series 2007-1 Class B, 4.965% 1/30/40 (i)

EUR

200,000

288,706

Red & Black Consumer PLC Series 2006-1 Class C, 4.775% 5/15/21 (i)

EUR

300,000

445,639

Whinstone Capital Management Ltd. Series 2005-1X Class B1, 7.1719% 10/25/45 (i)

GBP

100,478

163,845

TOTAL ASSET-BACKED SECURITIES

(Cost $2,475,749)

2,456,905

Collateralized Mortgage Obligations - 0.2%

Private Sponsor - 0.2%

Arkle Master Issuer PLC:

floater:

Series 2006-1X Class 5M1, 4.85% 2/17/52 (i)

EUR

100,000

136,786

Series 2007-1X Class 1C, 5.2506% 2/17/52 (i)

200,000

200,000

Series 2006-1X Class 2C, 4.93% 2/17/52 (i)

EUR

150,000

218,559

Permanent Master Issuer PLC floater Series 2006-1 Class 2C, 4.66% 7/17/42 (i)

400,000

370,766

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $949,796)

926,111

Commercial Mortgage Securities - 0.3%

Principal Amount (d)

Value

Ireland - 0.1%

European Property Capital Series 4 Class C, 5.8525% 7/20/14 (i)

GBP

41,701

$ 79,671

German Residential Asset Note Distributor PLC Series 1 Class A, 4.893% 7/20/16 (i)

EUR

180,644

251,383

Rivoli Pan Europe PLC Series 2006-1 Class B 4.544% 8/3/18 (i)

EUR

100,000

138,405

TOTAL IRELAND

469,459

Japan - 0.1%

JLOC 37 LLC (Reg. S) Series X Class B1, 1.3819% 1/15/15 (i)

JPY

16,872,000

157,644

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 5.463% 7/22/43 (i)

EUR

100,000

133,008

United Kingdom - 0.1%

Broadgate PLC 6.6263% 10/5/25 (i)

GBP

43,250

81,664

Canary Wharf Finance II plc Series 3MUK Class C2, 6.8256% 10/22/37 (i)

GBP

150,000

265,538

TOTAL UNITED KINGDOM

347,202

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,083,730)

1,107,313

Supranational Obligations - 0.5%

European Investment Bank 5.625% 6/7/32
(Cost $1,750,096)

GBP

800,000

1,804,535

Preferred Securities - 0.0%

Cayman Islands - 0.0%

MUFG Capital Finance 1 Ltd. 6.346% (i)
(Cost $175,000)

175,000

167,001

Money Market Funds - 5.3%

Shares

Fidelity Cash Central Fund, 3.79% (b)

17,934,092

17,934,092

Fidelity Securities Lending Cash Central Fund, 3.84% (b)(c)

1,932,525

1,932,525

TOTAL MONEY MARKET FUNDS

(Cost $19,866,617)

19,866,617

Cash Equivalents - 0.0%

Maturity Amount

Value

Investments in repurchase agreements in a joint trading account at 1.71%, dated 1/31/08 due 2/1/08 (Collateralized by U.S. Treasury Obligations) #
(Cost $46,000)

$ 46,002

$ 46,000

TOTAL INVESTMENT PORTFOLIO - 101.7%

(Cost $369,720,133)

383,951,141

NET OTHER ASSETS - (1.7)%

(6,352,450)

NET ASSETS - 100%

$ 377,598,691

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

NOK

-

Norwegian krone

RUB

-

Russian ruble

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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

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

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

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

(g) 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 $3,244,233 or 0.9% of net assets.

(h) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(i) The coupon rate shown on floating or adjustable rate securities represents the rate at period end.

(j) 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 $89,201 or 0.0% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost

DDI Holding AS 9.3% 1/19/12

3/22/07

$ 92,201

# Additional Information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty

Value

$46,000 due 2/01/08 at 1.71%

Banc of America Securities LLC

$ 1,983

Barclays Capital, Inc.

25,479

Goldman, Sachs & Co.

5,764

ING Financial Markets LLC

7,010

Lehman Brothers, Inc.

5,764

$ 46,000

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

$ 238,915

Fidelity Securities Lending Cash Central Fund

8,363

Total

$ 247,278

Income Tax Information

At January 31, 2008, the aggregate cost of investment securities for income tax purposes was $370,761,136. Net unrealized appreciation aggregated $13,190,005, of which $26,498,701 related to appreciated investment securities and $13,308,696 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price. Debt securities, including restricted securities, for which quotations are readily available, are valued by independent pricing services or by dealers who make markets in such securities. Pricing services consider yield or price of bonds of comparable quality, coupon, maturity and type as well as available dealer supplied prices. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. Factors used in the determination of fair value may include current market trading activity, interest rates, credit quality and default rates. The frequency of when fair value pricing is used is unpredictable. The value of securities used under fair value pricing may differ from published prices for the same securities.

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

Quarterly Report

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

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

Quarterly Report

Item 2. Controls and Procedures

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

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

Item 3. Exhibits

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

SIGNATURES

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

Fidelity Charles Street Trust

By:

/s/Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

March 31, 2008

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

By:

/s/ Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

March 31, 2008

By:

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

Date:

March 31, 2008