0000225322 fsst3:S000017691Member fsst3:ClassKMember fsst3:C000064282Member 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember fsst3:C000048887Member 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:ClassKMember 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:ClassKMember fsst3:SandpFiveHundredMember 2011-10-31 2012-10-30 0000225322 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember fsst3:BeforeTaxesMember fsst3:C000048887Member 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember rr:AfterTaxesOnDistributionsMember fsst3:C000048887Member 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember rr:AfterTaxesOnDistributionsAndSalesMember fsst3:C000048887Member 2011-10-31 2012-10-30 0000225322 fsst3:S000017691Member fsst3:RetailMember fsst3:SandpFiveHundredMember 2011-10-31 2012-10-30 pure iso4217:USD 2012-09-30 2012-09-30 362 <div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityExportandMultinationalFund column period compact * ~</div> 455 <div style="display:none">~ http://www.fidelity.com/role/ScheduleShareholderFeesFidelityExportandMultinationalFundFidelityExportandMultinationalFund column period compact * ~</div> Fund Summary Fund/Class: Fidelity® Export and Multinational Fund/K The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 97% of the average value of its portfolio. www.401k.com and log in for updated return information 0.1675 0.3262 The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 97% of the average value of its portfolio. www.fidelity.com 0.1663 Shareholder fees (fees paid directly from your investment) Annual class operating expenses (expenses that you pay each year as a % of the value of your investment) <table border="1" width="95%"><tr><td><div align="left">During the periods shown in the chart: </div></td><td valign="bottom" align="center"><div align="center">Returns </div></td><td valign="bottom" align="center"><div align="center">Quarter ended</div></td></tr><tr><td><div align="left">Highest Quarter Return </div></td><td><div align="right">17.11% </div></td><td><div align="left">September 30, 2009</div></td></tr><tr><td><div align="left">Lowest Quarter Return </div></td><td><div align="right">-14.87% </div></td><td><div align="left">September 30, 2011</div></td></tr><tr><td><div align="left">Year-to-Date Return </div></td><td><div align="right">16.75% </div></td><td><div align="left">September 30, 2012</div></td></tr></table> 66 The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. 84 Fund Summary Fund/Class: Fidelity® Export and Multinational Fund/Fidelity Export and Multinational Fund Shareholder fees (fees paid directly from your investment) Annual class operating expenses (expenses that you pay each year as a % of the value of your investment) <table border="1" width="95%"><tr><td><div align="left">During the periods shown in the chart: </div></td><td valign="bottom" align="center"><div align="center">Returns </div></td><td valign="bottom" align="center"><div align="center">Quarter ended</div></td></tr><tr><td><div align="left">Highest Quarter Return </div></td><td><div align="right">17.06% </div></td><td><div align="left">September 30, 2009</div></td></tr><tr><td><div align="left">Lowest Quarter Return </div></td><td><div align="right">-24.60% </div></td><td><div align="left">December 31, 2008</div></td></tr><tr><td><div align="left">Year-to-Date Return </div></td><td><div align="right">16.63% </div></td><td><div align="left">September 30, 2012</div></td></tr></table> The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. 2008-05-09 2008-05-09 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityExportandMultinationalFund column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityExportandMultinationalFundFidelityExportandMultinationalFund column period compact * ~</div> Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. 485BPOS FIDELITY SUMMER STREET TRUST 2012-08-31 Investment Objective The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund. This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: Principal Investment Strategies Average Annual Returns For the periods ended December 31, 2011 208 -0.0347 You could lose money by investing in the fund. 2011-09-30 0.1711 2012-10-29 262 -0.1866 -0.0367 0.0398 0.0363 0.0339 0.0292 Investment Objective The following table describes the fees and expenses that may be incurred when you buy, hold, or sell shares of the fund. This example helps compare the cost of investing in the fund with the cost of investing in other mutual funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that your shareholder fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated: Principal Investment Strategies Average Annual Returns After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. For the periods ended December 31, 2011 You could lose money by investing in the fund. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement. 0.1706 <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityExportandMultinationalFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityExportandMultinationalFundFidelityExportandMultinationalFundBarChart column period compact * ~</div> 0000225322 false Fee Table Portfolio Turnover <ul><li style="margin-left:-10px">Normally investing primarily in common stocks. </li><li style="margin-left:-10px">Normally investing primarily in securities of U.S. companies that are expected to benefit from exporting or selling their goods or services outside the United States (export and multinational companies).</li><li style="margin-left:-10px">Potentially investing in securities of foreign issuers and in securities of U.S. companies that are not export or multinational companies.</li><li style="margin-left:-10px">Investing in either "growth" stocks or "value" stocks or both.</li><li style="margin-left:-10px">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul> Principal Investment Risks <ul><li style="margin-left:-10px">Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.</li><li style="margin-left:-10px">Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</li><li style="margin-left:-10px">Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.</li><li style="margin-left:-10px">Export and Multinational Company Exposure. Export and multinational companies can be significantly affected by political, economic, and regulatory developments in foreign markets.</li></ul>An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. Performance Year-by-Year Returns Calendar Years 0 0.0009 0.0065 0.3737 0.1209 -0.0347 0.0211 -0.0291 -0.0047 An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Past performance is not an indication of future performance. Lowest Quarter Return Year-to-Date Return 2009-09-30 <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityExportandMultinationalFund column period compact * ~</div> 2012-10-30 2012-10-30 0 0.0026 0.0082 0.1359 0.1529 0.1529 -0.4336 0.3705 0.119 -0.0367 -0.0389 -0.021 0.0211 Fee Table Portfolio Turnover <ul><li style="margin-left:-10px">Normally investing primarily in common stocks. </li><li style="margin-left:-10px">Normally investing primarily in securities of U.S. companies that are expected to benefit from exporting or selling their goods or services outside the United States (export and multinational companies).</li><li style="margin-left:-10px">Potentially investing in securities of foreign issuers and in securities of U.S. companies that are not export or multinational companies.</li><li style="margin-left:-10px">Investing in either "growth" stocks or "value" stocks or both.</li><li style="margin-left:-10px">Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.</li></ul> Principal Investment Risks <ul><li style="margin-left:-10px">Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market can react differently to these developments.</li><li style="margin-left:-10px">Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.</li><li style="margin-left:-10px">Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.</li><li style="margin-left:-10px">Export and Multinational Company Exposure. Export and multinational companies can be significantly affected by political, economic, and regulatory developments in foreign markets.</li></ul>An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the fund. Performance Year-by-Year Returns Calendar Years Past performance (before and after taxes) is not an indication of future performance. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. 2009-09-30 Lowest Quarter Return 2008-12-31 Year-to-Date Return Class K S&P 500&#174 Index Return Before Taxes Return After Taxes on Distributions Return After Taxes on Distributions and Sale of Fund Shares S&P 500® Index Fidelity Export and Multinational Fund Fidelity Export and Multinational Fund Fidelity Export and Multinational Fund <div style="display:none">~ http://www.fidelity.com/role/ScheduleExpenseExampleFidelityExportandMultinationalFundFidelityExportandMultinationalFund column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityExportandMultinationalFundFidelityExportandMultinationalFund column period compact * ~</div> <div style="display:none">~ http://www.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityExportandMultinationalFund column period compact * ~</div> The fund seeks long-term growth of capital. The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance is not an indication of future performance. Visit www.401k.com and log in for updated return information. -0.0075 0.0056 810 0.97 Highest Quarter Return -0.1487 -0.0075 0.0056 1014 0.0843 -0.0072 -0.0092 -0.006 -0.0025 The fund seeks long-term growth of capital. The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of the fund's shares from year to year and compares the performance of the fund's shares to the performance of a securities market index over various periods of time. The index description appears in the Additional Information about the Index section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. Visit www.fidelity.com for updated return information. 0.97 An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Highest Quarter Return -0.246 From May 9, 2008.