0000035331 2012-08-10 2013-08-09 0000035331 fdp:S000006055Member fdp:ClassZMember 2012-08-10 2013-08-09 0000035331 fdp:S000006055Member fdp:ClassZMember fdp:C000130143Member 2012-08-10 2013-08-09 0000035331 fdp:S000006055Member fdp:ClassZMember fdp:C000016633Member 2012-08-10 2013-08-09 0000035331 fdp:S000006055Member fdp:ClassZMember fdp:SAndPFivehundredIndexMember 2012-08-10 2013-08-09 pure iso4217:USD 2013-08-09 485BPOS FIDELITY DESTINY PORTFOLIOS 0000035331 2013-08-08 2013-08-09 false 2013-08-08 Fund Summary Fund/Class: Fidelity Advisor® DiversifiedStock Fund/Z Investment Objective The fund seeks capital growth. Fee Table The following table describes the fees and expenses that may be incurred when you buy and hold shares of the fund. Shareholder fees (fees paid directly from your investment) 0 Annual class operating expenses (expenses that you pay each year as a % of the value of your investment) This example helps compare the cost of investing in the fund with the cost of investing in other 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: 0.0043 0 0.0009 0.0052 53 167 291 653 Portfolio Turnover 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 40% of the average value of its portfolio. Principal Investment Strategies <ul><li>Normally investing at least 80% of assets in stocks.</li><li>Normally investing primarily in common stocks.</li><li>Investing in domestic and foreign issuers.</li><li>Investing in either "growth" stocks or "value" stocks or both.</li><li>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>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, including different market sectors, and different types of securities can react differently to these developments.</li><li>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>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></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 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 Index Information section of the prospectus. Past performance is not an indication of future performance. Visit www.advisor.fidelity.com for updated return information. Performance history will be available for Class Z after Class Z has been in operation for one calendar year. Year-by-Year Returns Calendar Years <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">25.21% </div></td><td><div align="left">June 30, 2009</div></td></tr><tr><td><div align="left">Lowest Quarter Return </div></td><td><div align="right">-27.28% </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">13.33% </div></td><td><div align="left">June 30, 2013</div></td></tr></table> Average Annual Returns For the periods ended December 31, 2012 0.0954 0.09 -0.4766 0.4803 0.1941 0.0018 0.1929 0.1929 0.16 0.0203 0.0166 0.0509 0.0427 2005-07-12 2005-07-12 0.4 Based on estimated amounts for the current fiscal year. You could lose money by investing in the fund. 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. 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. Past performance is not an indication of future performance. www.advisor.fidelity.com The returns shown above are for Institutional Class, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Institutional Class because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Institutional Class's returns to the extent that the classes do not have the same expenses. Performance history will be available for Class Z after Class Z has been in operation for one calendar year. Year-to-Date Return 2013-06-30 0.1333 Highest Quarter Return 2009-06-30 0.2521 Lowest Quarter Return 2008-12-31 -0.2728 S&P 500® Index Institutional Class <div style="display:none">~ http://www.advisor.fidelity.com/role/ScheduleShareholderFeesFidelityAdvisorDiversifiedStockFund column period compact * ~</div> <div style="display:none">~ http://www.advisor.fidelity.com/role/ScheduleAnnualClassOperatingExpensesFidelityAdvisorDiversifiedStockFund column period compact * ~</div> <div style="display:none">~ http://www.advisor.fidelity.com/role/ScheduleExpenseExampleFidelityAdvisorDiversifiedStockFund column period compact * ~</div> <div style="display:none">~ http://www.advisor.fidelity.com/role/ScheduleAnnualTotalReturnsFidelityAdvisorDiversifiedStockFundBarChart column period compact * ~</div> <div style="display:none">~ http://www.advisor.fidelity.com/role/ScheduleAverageAnnualTotalReturnsTransposedFidelityAdvisorDiversifiedStockFund column period compact * ~</div> Based on estimated amounts for the current fiscal year. The returns shown above are for Institutional Class, which is not offered through this prospectus. Class Z would have substantially similar annual returns to Institutional Class because the classes are invested in the same portfolio of securities. Class Z's returns would differ from Institutional Class's returns to the extent that the classes do not have the same expenses. From July 12, 2005