N-CSR 1 filing6692.htm PRIMARY DOCUMENT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES



Investment Company Act file number    811-00215



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)



Margaret Carey, 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:

June 30, 2023







Item 1.

Reports to Stockholders









Fidelity® Mega Cap Stock Fund
 
 
Annual Report
June 30, 2023
Includes Fidelity and Fidelity Advisor share classes

Contents

Performance

Management's Discussion of Fund Performance

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Board Approval of Investment Advisory Contracts

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2023 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.
Average Annual Total Returns
 
 
 
 
Periods ended June 30, 2023
 
Past 1
year
Past 5
years
Past 10
years
Class A (incl.5.75% sales charge)    
16.97%
11.08%
11.14%
Class M (incl.3.50% sales charge)    
19.43%
11.33%
11.13%
Class C    
(incl. contingent deferred sales charge)
 
22.12%
11.55%
11.14%
Fidelity® Mega Cap Stock Fund
24.46%
12.73%
12.12%
Class I
24.43%
12.71%
12.12%
Class Z
24.62%
12.85%
12.27%
 
 
Class C shares' contingent deferred sales charges included in the past one year, past five years and past ten years total return figures are 1%, 0% and 0%, respectively.
The initial offering of Class Z shares took place on August 13, 2013. Returns prior to August 13, 2013, are those of Class I.
 $10,000 Over 10 Years
 
Let's say hypothetically that $10,000 was invested in Fidelity® Mega Cap Stock Fund, a class of the fund, on June 30, 2013.
 
The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.
 
 
Market Recap:
U.S. equities gained 19.59% for the 12 months ending June 30, 2023, according to the S&P 500 ® index, as continued global economic expansion, falling commodity prices and a slowing in the pace of inflation provided a favorable backdrop for risk assets. U.S. large-cap stocks spearheaded the rally, which was driven by the shares of a narrow set of mega-cap companies concentrated in the information technology and communication services sectors, largely due to exuberance related to artificial intelligence. Aggressive monetary tightening by major central banks, including the U.S. Federal Reserve, continued amid signs of consistent pressure on core inflation, a closely watched measure that excludes food and energy. Since March 2022, the Fed has hiked its benchmark interest rate 10 times, by 5 percentage points - the fastest-ever pace of monetary tightening - while also shrinking its massive asset portfolio. The latest bump came in early May, a third consecutive raise of a stepped down 25 basis points. In June, the Fed held interest rates steady and signaled it was prepared to raise rates next month if the economy and inflation don't cool more. The S&P 500 ® gained 6.61% for the month, raising hopes for a "soft landing" of the economy and bringing the index's year-to-date result to 16.89%. June saw the long-awaited return of market breadth and lower dispersion. Smaller-cap stocks had a particularly strong month, achieving the best result for the category since January. For the full 12 months, value stocks (+19.99%) topped growth (+18.25%). All 11 sectors in the index gained strongly over the period. Information technology (+42%), consumer discretionary and industrials (+25% each) led, while real estate and utilities (-4% each) lagged most.
Comments from Portfolio Manager Matthew Fruhan:
For the fiscal year, the fund's share classes (excluding sales charges, if applicable) gained about 23% to 25%, outperforming the 20.88% advance of the Russell Top 200 ® Index, a proxy for mega-cap stocks, as well as the broad-based S&P 500 ® index. Versus the mega-cap proxy, security selection was the primary contributor, led by the industrials sector. Also boosting performance was stock selection and an overweight in energy. The fund's top individual relative contributor was an outsized stake in General Electric, which gained about 123% the past year. The company was among our biggest holdings. Also lifting performance was an overweight in Exxon Mobil, which gained about 29%. Exxon Mobil was among the fund's largest holdings. Avoiding Pfizer, an index component that returned approximately -27%, also helped relative performance. Conversely, the primary detractors from performance versus the index were an underweight and security selection in information technology. Stock selection in financials and an overweight in communication services also hindered the fund's relative performance. The fund's biggest individual relative detractor was an underweight in Nvidia, which gained about 179% the past 12 months. We added to our stake this period. Also hurting performance was our lighter-than-index stake in Apple, which gained roughly 43%. The company was among the fund's largest holdings. Also holding back performance was our outsized stake in Bank of America, which returned roughly -5%. Bank of America was one of the fund's biggest holdings. Notable changes in positioning include increased exposure to the information technology sector and a lower allocation to communication services.
 
The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.
 
Top Holdings (% of Fund's net assets)
 
Microsoft Corp.
9.0
 
Exxon Mobil Corp.
6.9
 
Wells Fargo & Co.
5.1
 
General Electric Co.*
4.9
 
Apple, Inc.*
4.8
 
Bank of America Corp.
3.2
 
Alphabet, Inc. Class A
2.4
 
The Boeing Co.
2.4
 
JPMorgan Chase & Co.
2.4
 
Alphabet, Inc. Class C
2.3
 
 
43.4
 
 
* Security or a portion of the security is pledged as collateral for options written.
Market Sectors (% of Fund's net assets)
 
Information Technology
20.7
 
Financials
16.7
 
Industrials
12.2
 
Health Care
11.3
 
Energy
10.6
 
Communication Services
9.4
 
Consumer Staples
4.8
 
Consumer Discretionary
3.8
 
Materials
3.1
 
Real Estate
0.8
 
Utilities
0.3
 
 
Asset Allocation (% of Fund's net assets)
Written Options - (0.0)%
Percentages shown as 0.0% may reflect amounts less than 0.05%.
 
Showing Percentage of Net Assets  
Common Stocks - 93.7%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 9.4%
 
 
 
Entertainment - 1.2%
 
 
 
Sea Ltd. ADR (a)
 
107
6,210
The Walt Disney Co. (a)
 
114,999
10,267,111
Universal Music Group NV
 
470,999
10,458,966
 
 
 
20,732,287
Interactive Media & Services - 6.8%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (a)
 
348,200
41,679,540
 Class C (a)
 
329,700
39,883,809
Meta Platforms, Inc. Class A (a)
 
124,600
35,757,708
 
 
 
117,321,057
Media - 1.4%
 
 
 
Charter Communications, Inc. Class A (a)
 
3,400
1,249,058
Comcast Corp. Class A
 
523,697
21,759,610
 
 
 
23,008,668
TOTAL COMMUNICATION SERVICES
 
 
161,062,012
CONSUMER DISCRETIONARY - 3.8%
 
 
 
Broadline Retail - 0.2%
 
 
 
Amazon.com, Inc. (a)
 
30,900
4,028,124
Hotels, Restaurants & Leisure - 1.9%
 
 
 
Booking Holdings, Inc. (a)
 
9,648
26,052,784
Marriott International, Inc. Class A
 
25,500
4,684,095
Starbucks Corp.
 
12,900
1,277,874
 
 
 
32,014,753
Household Durables - 0.7%
 
 
 
Sony Group Corp. sponsored ADR
 
130,600
11,759,224
Specialty Retail - 0.9%
 
 
 
Lowe's Companies, Inc.
 
71,511
16,140,033
Textiles, Apparel & Luxury Goods - 0.1%
 
 
 
NIKE, Inc. Class B
 
18,800
2,074,956
TOTAL CONSUMER DISCRETIONARY
 
 
66,017,090
CONSUMER STAPLES - 4.8%
 
 
 
Beverages - 2.1%
 
 
 
Diageo PLC
 
393,762
16,928,223
Keurig Dr. Pepper, Inc.
 
234,700
7,339,069
The Coca-Cola Co.
 
193,900
11,676,658
 
 
 
35,943,950
Consumer Staples Distribution & Retail - 1.3%
 
 
 
Costco Wholesale Corp.
 
1,300
699,894
Sysco Corp.
 
131,699
9,772,066
Target Corp.
 
24,300
3,205,170
Walmart, Inc.
 
56,000
8,802,080
 
 
 
22,479,210
Food Products - 0.1%
 
 
 
Mondelez International, Inc.
 
20,100
1,466,094
Household Products - 0.1%
 
 
 
Procter & Gamble Co.
 
16,310
2,474,879
Personal Care Products - 0.8%
 
 
 
Estee Lauder Companies, Inc. Class A
 
13,500
2,651,130
Haleon PLC ADR
 
701,733
5,880,523
Kenvue, Inc.
 
163,900
4,330,238
 
 
 
12,861,891
Tobacco - 0.4%
 
 
 
Altria Group, Inc.
 
39,690
1,797,957
Philip Morris International, Inc.
 
49,400
4,822,428
 
 
 
6,620,385
TOTAL CONSUMER STAPLES
 
 
81,846,409
ENERGY - 10.6%
 
 
 
Oil, Gas & Consumable Fuels - 10.6%
 
 
 
Canadian Natural Resources Ltd.
 
290,700
16,354,782
Exxon Mobil Corp.
 
1,106,587
118,681,456
Hess Corp.
 
193,916
26,362,880
Imperial Oil Ltd.
 
290,700
14,873,483
Shell PLC ADR
 
93,110
5,621,982
 
 
 
181,894,583
FINANCIALS - 16.7%
 
 
 
Banks - 12.0%
 
 
 
Bank of America Corp.
 
1,916,651
54,988,717
JPMorgan Chase & Co.
 
279,930
40,713,019
PNC Financial Services Group, Inc.
 
99,431
12,523,334
Truist Financial Corp.
 
77,900
2,364,265
U.S. Bancorp
 
232,912
7,695,412
Wells Fargo & Co.
 
2,050,936
87,533,948
 
 
 
205,818,695
Capital Markets - 0.2%
 
 
 
Charles Schwab Corp.
 
63,400
3,593,512
Consumer Finance - 0.1%
 
 
 
American Express Co.
 
13,500
2,351,700
Financial Services - 4.4%
 
 
 
Berkshire Hathaway, Inc. Class B (a)
 
49,500
16,879,500
Fidelity National Information Services, Inc.
 
53,700
2,937,390
Fiserv, Inc. (a)
 
24,800
3,128,520
MasterCard, Inc. Class A
 
28,852
11,347,492
PayPal Holdings, Inc. (a)
 
53,100
3,543,363
Visa, Inc. Class A
 
157,088
37,305,258
 
 
 
75,141,523
TOTAL FINANCIALS
 
 
286,905,430
HEALTH CARE - 11.3%
 
 
 
Health Care Equipment & Supplies - 2.9%
 
 
 
Abbott Laboratories
 
39,500
4,306,290
Boston Scientific Corp. (a)
 
493,519
26,694,443
GE Healthcare Holding LLC
 
126,798
10,301,070
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.)
 
147,314
3,195,241
Medtronic PLC
 
58,596
5,162,308
 
 
 
49,659,352
Health Care Providers & Services - 3.1%
 
 
 
Cigna Group
 
41,662
11,690,357
Humana, Inc.
 
5,400
2,414,502
UnitedHealth Group, Inc.
 
82,703
39,750,370
 
 
 
53,855,229
Life Sciences Tools & Services - 0.8%
 
 
 
Danaher Corp.
 
53,810
12,914,400
Pharmaceuticals - 4.5%
 
 
 
Bristol-Myers Squibb Co.
 
325,799
20,834,846
Eli Lilly & Co.
 
39,700
18,618,506
GSK PLC sponsored ADR
 
299,366
10,669,404
Johnson & Johnson
 
141,613
23,439,784
Sanofi SA sponsored ADR
 
80,073
4,315,935
 
 
 
77,878,475
TOTAL HEALTH CARE
 
 
194,307,456
INDUSTRIALS - 12.2%
 
 
 
Aerospace & Defense - 4.2%
 
 
 
Airbus Group NV
 
128,100
18,520,921
Raytheon Technologies Corp.
 
132,830
13,012,027
The Boeing Co. (a)
 
193,100
40,774,996
 
 
 
72,307,944
Air Freight & Logistics - 1.5%
 
 
 
FedEx Corp.
 
6,300
1,561,770
United Parcel Service, Inc. Class B
 
132,079
23,675,161
 
 
 
25,236,931
Building Products - 0.0%
 
 
 
Johnson Controls International PLC
 
8,500
579,190
Electrical Equipment - 0.4%
 
 
 
Rockwell Automation, Inc.
 
18,400
6,061,880
Industrial Conglomerates - 4.9%
 
 
 
General Electric Co. (b)
 
763,594
83,880,801
Machinery - 1.2%
 
 
 
Caterpillar, Inc.
 
55,000
13,532,750
Deere & Co.
 
18,380
7,447,392
 
 
 
20,980,142
TOTAL INDUSTRIALS
 
 
209,046,888
INFORMATION TECHNOLOGY - 20.7%
 
 
 
IT Services - 0.1%
 
 
 
Kyndryl Holdings, Inc. (a)
 
220
2,922
Snowflake, Inc. (a)
 
1,000
175,980
Twilio, Inc. Class A (a)
 
25,300
1,609,586
 
 
 
1,788,488
Semiconductors & Semiconductor Equipment - 4.6%
 
 
 
Analog Devices, Inc.
 
8,000
1,558,480
Applied Materials, Inc.
 
146,174
21,127,990
ASML Holding NV (depository receipt)
 
5,536
4,012,216
Broadcom, Inc.
 
1,600
1,387,888
Lam Research Corp.
 
21,700
13,950,062
Marvell Technology, Inc.
 
99,249
5,933,105
NVIDIA Corp.
 
26,100
11,040,822
Qualcomm, Inc. (b)
 
105,016
12,501,105
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
63,900
6,448,788
 
 
 
77,960,456
Software - 11.2%
 
 
 
Adobe, Inc. (a)
 
36,010
17,608,530
Autodesk, Inc. (a)
 
800
163,688
Intuit, Inc.
 
10,100
4,627,719
Microsoft Corp.
 
452,566
154,116,824
Salesforce, Inc. (a)
 
19,300
4,077,318
SAP SE sponsored ADR
 
89,900
12,299,219
 
 
 
192,893,298
Technology Hardware, Storage & Peripherals - 4.8%
 
 
 
Apple, Inc. (b)
 
428,142
83,046,704
TOTAL INFORMATION TECHNOLOGY
 
 
355,688,946
MATERIALS - 3.1%
 
 
 
Chemicals - 0.7%
 
 
 
DuPont de Nemours, Inc.
 
129,818
9,274,198
Linde PLC
 
5,000
1,905,400
LyondellBasell Industries NV Class A
 
15,400
1,414,182
 
 
 
12,593,780
Metals & Mining - 2.4%
 
 
 
Freeport-McMoRan, Inc.
 
809,900
32,396,000
Glencore PLC
 
1,469,600
8,332,464
 
 
 
40,728,464
TOTAL MATERIALS
 
 
53,322,244
REAL ESTATE - 0.8%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.8%
 
 
 
American Tower Corp.
 
18,400
3,568,496
Crown Castle International Corp.
 
15,600
1,777,464
Simon Property Group, Inc.
 
71,300
8,233,724
 
 
 
13,579,684
UTILITIES - 0.3%
 
 
 
Electric Utilities - 0.3%
 
 
 
Southern Co.
 
67,500
4,741,875
 
TOTAL COMMON STOCKS
  (Cost $970,916,106)
 
 
 
1,608,412,617
 
 
 
 
Money Market Funds - 6.2%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.32% (c)
 
  (Cost $106,272,490)
 
 
106,251,240
106,272,490
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
  (Cost $1,077,188,596)
 
 
 
1,714,685,107
NET OTHER ASSETS (LIABILITIES) - 0.1%  
1,451,352
NET ASSETS - 100.0%
1,716,136,459
 
 
 Written Options
 
Counterparty
Number
of Contracts
Notional
Amount ($)
Exercise
Price ($)
Expiration
Date
Value ($)
Call Options
 
 
 
 
 
 
Apple, Inc.
Chicago Board Options Exchange
400
7,758,800
195.00
08/18/23
(221,000)
General Electric Co.
Chicago Board Options Exchange
300
3,295,500
115.00
07/21/23
(17,100)
Qualcomm, Inc.
Chicago Board Options Exchange
200
2,380,800
125.00
08/18/23
(68,000)
 
 
 
 
 
 
 
TOTAL WRITTEN OPTIONS
 
 
 
 
 
(306,100)
 
 
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $13,435,100.
 
(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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.14%
23,229,078
257,886,386
174,842,974
1,996,242
-
-
106,272,490
0.3%
Fidelity Securities Lending Cash Central Fund 5.14%
-
77,834,665
77,834,665
2,225
-
-
-
0.0%
Total
23,229,078
335,721,051
252,677,639
1,998,467
-
-
106,272,490
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
 
Investment Valuation
 
The following is a summary of the inputs used, as of June 30, 2023, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
  Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
161,062,012
161,062,012
-
-
Consumer Discretionary
66,017,090
66,017,090
-
-
Consumer Staples
81,846,409
64,918,186
16,928,223
-
Energy
181,894,583
181,894,583
-
-
Financials
286,905,430
286,905,430
-
-
Health Care
194,307,456
194,307,456
-
-
Industrials
209,046,888
190,525,967
18,520,921
-
Information Technology
355,688,946
355,688,946
-
-
Materials
53,322,244
44,989,780
8,332,464
-
Real Estate
13,579,684
13,579,684
-
-
Utilities
4,741,875
4,741,875
-
-
  Money Market Funds
106,272,490
106,272,490
-
-
 Total Investments in Securities:
1,714,685,107
1,670,903,499
43,781,608
-
  Derivative Instruments:
 
 
 
 
 Liabilities
 
 
 
 
Written Options
(306,100)
(306,100)
-
-
  Total Liabilities
(306,100)
(306,100)
-
-
 Total Derivative Instruments:
(306,100)
(306,100)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of June 30, 2023. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Written Options (a)  
0
(306,100)
Total Equity Risk
0
(306,100)
Total Value of Derivatives
0
(306,100)
 
(a)Gross value is presented in the Statement of Assets and Liabilities in the written options, at value line-item.
 
 
 
Statement of Assets and Liabilities
 
 
 
June 30, 2023
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $970,916,106)
$
1,608,412,617
 
 
Fidelity Central Funds (cost $106,272,490)
106,272,490
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $1,077,188,596)
 
 
$
1,714,685,107
Foreign currency held at value (cost $2)
 
 
2
Receivable for investments sold
 
 
139,807
Receivable for fund shares sold
 
 
2,617,149
Dividends receivable
 
 
1,533,255
Distributions receivable from Fidelity Central Funds
 
 
451,769
Other receivables
 
 
4,714
  Total assets
 
 
1,719,431,803
Liabilities
 
 
 
 
Payable for investments purchased
$
1,124,595
 
 
Payable for fund shares redeemed
943,488
 
 
Accrued management fee
586,290
 
 
Transfer agent fee payable
183,697
 
 
Distribution and service plan fees payable
58,662
 
 
Written options, at value (premium received $206,794)
306,100
 
 
Other affiliated payables
37,897
 
 
Other payables and accrued expenses
54,615
 
 
  Total Liabilities
 
 
 
3,295,344
Net Assets  
 
 
$
1,716,136,459
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
1,076,338,565
Total accumulated earnings (loss)
 
 
 
639,797,894
Net Assets
 
 
$
1,716,136,459
 
 
 
 
 
Net Asset Value and Maximum Offering Price
 
 
 
 
Class A :
 
 
 
 
Net Asset Value and redemption price per share ($133,251,952 ÷ 6,929,843 shares) (a)
 
 
$
19.23
Maximum offering price per share (100/94.25 of $19.23)
 
 
$
20.40
Class M :
 
 
 
 
Net Asset Value and redemption price per share ($30,973,358 ÷ 1,611,667 shares) (a)
 
 
$
19.22
Maximum offering price per share (100/96.50 of $19.22)
 
 
$
19.92
Class C :
 
 
 
 
Net Asset Value and offering price per share ($23,061,492 ÷ 1,230,600 shares) (a)
 
 
$
18.74
Mega Cap Stock :
 
 
 
 
Net Asset Value , offering price and redemption price per share ($1,203,801,828 ÷ 61,488,933 shares)
 
 
$
19.58
Class I :
 
 
 
 
Net Asset Value , offering price and redemption price per share ($132,415,857 ÷ 6,752,894 shares)
 
 
$
19.61
Class Z :
 
 
 
 
Net Asset Value , offering price and redemption price per share ($192,631,972 ÷ 9,897,063 shares)
 
 
$
19.46
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
 
Statement of Operations
 
 
 
Year ended
June 30, 2023
Investment Income
 
 
 
 
Dividends
 
 
$
24,034,304
Income from Fidelity Central Funds (including $2,225 from security lending)
 
 
1,998,467
 Total Income
 
 
 
26,032,771
Expenses
 
 
 
 
Management fee
$
5,876,567
 
 
Transfer agent fees
1,913,194
 
 
Distribution and service plan fees
616,293
 
 
Accounting fees
387,875
 
 
Custodian fees and expenses
38,622
 
 
Independent trustees' fees and expenses
6,901
 
 
Registration fees
168,938
 
 
Audit
72,364
 
 
Legal
3,629
 
 
Interest
20,022
 
 
Miscellaneous
7,642
 
 
 Total expenses before reductions
 
9,112,047
 
 
 Expense reductions
 
(55,780)
 
 
 Total expenses after reductions
 
 
 
9,056,267
Net Investment income (loss)
 
 
 
16,976,504
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
4,629,700
 
 
 Foreign currency transactions
 
(37,940)
 
 
 Written options
 
999,161
 
 
Total net realized gain (loss)
 
 
 
5,590,921
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers
 
278,551,525
 
 
 Assets and liabilities in foreign currencies
 
18,286
 
 
 Written options
 
(186,110)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
278,383,701
Net gain (loss)
 
 
 
283,974,622
Net increase (decrease) in net assets resulting from operations
 
 
$
300,951,126
 
Statement of Changes in Net Assets
 
 
Year ended
June 30, 2023
 
Year ended
June 30, 2022
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
16,976,504
$
16,810,761
Net realized gain (loss)
 
5,590,921
 
 
59,966,322
 
Change in net unrealized appreciation (depreciation)
 
278,383,701
 
(243,469,369)
 
Net increase (decrease) in net assets resulting from operations
 
300,951,126
 
 
(166,692,286)
 
Distributions to shareholders
 
(58,426,988)
 
 
(82,065,696)
 
 
 
 
 
 
Share transactions - net increase (decrease)
 
137,430,788
 
 
(79,071,772)
 
Total increase (decrease) in net assets
 
379,954,926
 
 
(327,829,754)
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
1,336,181,533
 
1,664,011,287
 
End of period
$
1,716,136,459
$
1,336,181,533
 
 
 
 
 
 
 
 
 
 
 
Fidelity Advisor® Mega Cap Stock Fund Class A
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
16.14
$
19.05
$
13.83
$
15.51
$
17.34
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.17
 
.14
 
.15
 
.22
 
.29
     Net realized and unrealized gain (loss)
 
3.61
 
(2.17)
 
6.31
 
.08
 
.77
  Total from investment operations
 
3.78  
 
(2.03)  
 
6.46  
 
.30  
 
1.06
  Distributions from net investment income
 
(.18)
 
(.29)
 
(.24)
 
(.27)
 
(.26)
  Distributions from net realized gain
 
(.51)
 
(.59)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.69)
 
(.88)
 
(1.24)
 
(1.98) C
 
(2.89)
  Net asset value, end of period
$
19.23
$
16.14
$
19.05
$
13.83
$
15.51
 Total Return   D,E
 
24.10%
 
(11.25)% F
 
49.60%
 
1.78%
 
6.99%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.90%
 
.90%
 
.91%
 
.93%
 
.93%
    Expenses net of fee waivers, if any
 
.90%
 
.89%
 
.91%
 
.93%
 
.93%
    Expenses net of all reductions
 
.90%
 
.89%
 
.91%
 
.92%
 
.93%
    Net investment income (loss)
 
.99%
 
.78%
 
.95%
 
1.56%
 
1.88%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
133,252
$
88,064
$
87,302
$
54,948
$
64,311
    Portfolio turnover rate I
 
18%
 
13%
 
43%
 
49% J
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Total distributions per share do not sum due to rounding.
 
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
E Total returns do not include the effect of the sales charges.
 
F Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (11.29)%.
 
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
J Portfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity Advisor® Mega Cap Stock Fund Class M
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
16.13
$
19.03
$
13.82
$
15.50
$
17.31
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.13
 
.10
 
.11
 
.19
 
.25
     Net realized and unrealized gain (loss)
 
3.61
 
(2.17)
 
6.31
 
.06
 
.78
  Total from investment operations
 
3.74  
 
(2.07)  
 
6.42  
 
.25  
 
1.03
  Distributions from net investment income
 
(.13)
 
(.24)
 
(.20)
 
(.23)
 
(.21)
  Distributions from net realized gain
 
(.51)
 
(.59)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.65) C
 
(.83)
 
(1.21) C
 
(1.93)
 
(2.84)
  Net asset value, end of period
$
19.22
$
16.13
$
19.03
$
13.82
$
15.50
 Total Return   D,E
 
23.76%
 
(11.45)% F
 
49.19%
 
1.50%
 
6.79%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
1.16%
 
1.15%
 
1.17%
 
1.18%
 
1.19%
    Expenses net of fee waivers, if any
 
1.16%
 
1.15%
 
1.17%
 
1.18%
 
1.19%
    Expenses net of all reductions
 
1.16%
 
1.15%
 
1.16%
 
1.18%
 
1.18%
    Net investment income (loss)
 
.73%
 
.52%
 
.69%
 
1.31%
 
1.63%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
30,973
$
25,617
$
28,266
$
21,208
$
25,031
    Portfolio turnover rate I
 
18%
 
13%
 
43%
 
49% J
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Total distributions per share do not sum due to rounding.
 
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
E Total returns do not include the effect of the sales charges.
 
F Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (11.49)%.
 
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
J Portfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity Advisor® Mega Cap Stock Fund Class C
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
15.74
$
18.58
$
13.53
$
15.20
$
17.03
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.03
 
- C
 
.03
 
.11
 
.17
     Net realized and unrealized gain (loss)
 
3.53
 
(2.12)
 
6.15
 
.08
 
.77
  Total from investment operations
 
3.56  
 
(2.12)  
 
6.18  
 
.19  
 
.94
  Distributions from net investment income
 
(.04)
 
(.15)
 
(.13)
 
(.15)
 
(.13)
  Distributions from net realized gain
 
(.51)
 
(.58)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.56) D
 
(.72) D
 
(1.13)
 
(1.86) D
 
(2.77) D
  Net asset value, end of period
$
18.74
$
15.74
$
18.58
$
13.53
$
15.20
 Total Return   E,F
 
23.12%
 
(11.90)% G
 
48.31%
 
1.05%
 
6.23%
 Ratios to Average Net Assets B,H,I
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
1.69%
 
1.67%
 
1.69%
 
1.69%
 
1.68%
    Expenses net of fee waivers, if any
 
1.68%
 
1.67%
 
1.69%
 
1.69%
 
1.67%
    Expenses net of all reductions
 
1.68%
 
1.67%
 
1.69%
 
1.69%
 
1.67%
    Net investment income (loss)
 
.21%
 
-% J
 
.17%
 
.80%
 
1.14%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
23,061
$
20,255
$
27,727
$
24,283
$
28,459
    Portfolio turnover rate K
 
18%
 
13%
 
43%
 
49% L
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Amount represents less than $.005 per share.
 
D Total distributions per share do not sum due to rounding.
 
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
F Total returns do not include the effect of the contingent deferred sales charge.
 
G Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (11.94)%.
 
H Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
I Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
J Amount represents less than .005%.
 
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
L Portfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity® Mega Cap Stock Fund
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
16.42
$
19.36
$
14.04
$
15.71
$
17.52
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.22
 
.20
 
.20
 
.27
 
.34
     Net realized and unrealized gain (loss)
 
3.68
 
(2.21)
 
6.40
 
.07
 
.78
  Total from investment operations
 
3.90  
 
(2.01)  
 
6.60  
 
.34  
 
1.12
  Distributions from net investment income
 
(.23)
 
(.34)
 
(.28)
 
(.31)
 
(.30)
  Distributions from net realized gain
 
(.51)
 
(.59)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.74)
 
(.93)
 
(1.28)
 
(2.01)
 
(2.93)
  Net asset value, end of period
$
19.58
$
16.42
$
19.36
$
14.04
$
15.71
 Total Return   C
 
24.46%
 
(10.99)% D
 
49.96%
 
2.09%
 
7.33%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.63%
 
.61%
 
.63%
 
.65%
 
.65%
    Expenses net of fee waivers, if any
 
.62%
 
.61%
 
.63%
 
.64%
 
.65%
    Expenses net of all reductions
 
.62%
 
.61%
 
.63%
 
.64%
 
.65%
    Net investment income (loss)
 
1.27%
 
1.06%
 
1.23%
 
1.84%
 
2.16%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
1,203,802
$
927,217
$
1,166,988
$
773,080
$
1,488,549
    Portfolio turnover rate G
 
18%
 
13%
 
43%
 
49% H
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
D Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (11.03)%.
 
E Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
F Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
G Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
H Portfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity Advisor® Mega Cap Stock Fund Class I
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
16.45
$
19.39
$
14.07
$
15.72
$
17.53
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.22
 
.19
 
.20
 
.27
 
.34
     Net realized and unrealized gain (loss)
 
3.68
 
(2.21)
 
6.42
 
.06
 
.79
  Total from investment operations
 
3.90  
 
(2.02)  
 
6.62  
 
.33  
 
1.13
  Distributions from net investment income
 
(.23)
 
(.34)
 
(.29)
 
(.28)
 
(.30)
  Distributions from net realized gain
 
(.51)
 
(.59)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.74)
 
(.92) C
 
(1.30) C
 
(1.98)
 
(2.94) C
  Net asset value, end of period
$
19.61
$
16.45
$
19.39
$
14.07
$
15.72
 Total Return   D
 
24.43%
 
(11.00)% E
 
49.97%
 
2.04%
 
7.33%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.63%
 
.65%
 
.65%
 
.66%
 
.66%
    Expenses net of fee waivers, if any
 
.62%
 
.64%
 
.65%
 
.66%
 
.66%
    Expenses net of all reductions
 
.62%
 
.64%
 
.64%
 
.65%
 
.66%
    Net investment income (loss)
 
1.26%
 
1.03%
 
1.21%
 
1.83%
 
2.15%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
132,416
$
52,884
$
39,876
$
20,725
$
147,465
    Portfolio turnover rate H
 
18%
 
13%
 
43%
 
49% I
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Total distributions per share do not sum due to rounding.
 
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
E Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (11.04)%.
 
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
I Portfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity Advisor® Mega Cap Stock Fund Class Z
 
Years ended June 30,
 
2023  
 
2022  
 
2021    
 
2020  
 
2019  
  Selected Per-Share Data  
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
16.32
$
19.25
$
13.97
$
15.65
$
17.46
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.24
 
.22
 
.22
 
.28
 
.35
     Net realized and unrealized gain (loss)
 
3.66
 
(2.20)
 
6.36
 
.08
 
.79
  Total from investment operations
 
3.90  
 
(1.98)  
 
6.58  
 
.36  
 
1.14
  Distributions from net investment income
 
(.25)
 
(.36)
 
(.30)
 
(.33)
 
(.32)
  Distributions from net realized gain
 
(.51)
 
(.59)
 
(1.00)
 
(1.70)
 
(2.63)
     Total distributions
 
(.76)
 
(.95)
 
(1.30)
 
(2.04) C
 
(2.95)
  Net asset value, end of period
$
19.46
$
16.32
$
19.25
$
13.97
$
15.65
 Total Return   D
 
24.62%
 
(10.92)% E
 
50.14%
 
2.18%
 
7.47%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.52%
 
.51%
 
.52%
 
.53%
 
.53%
    Expenses net of fee waivers, if any
 
.52%
 
.51%
 
.52%
 
.52%
 
.53%
    Expenses net of all reductions
 
.52%
 
.51%
 
.52%
 
.52%
 
.53%
    Net investment income (loss)
 
1.37%
 
1.16%
 
1.34%
 
1.96%
 
2.29%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
192,632
$
222,146
$
313,854
$
213,832
$
193,889
    Portfolio turnover rate H
 
18%
 
13%
 
43%
 
49% I
 
36%
 
A Calculated based on average shares outstanding during the period.
 
B Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
C Total distributions per share do not sum due to rounding.
 
D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
E Amount includes a reimbursement from the investment adviser for an operational error which amounted to less than  $.01 per share. Excluding this reimbursement, the total return would have been (10.96)%.
 
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
H Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
I Portfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended June 30, 2023
 
1. Organization.
Fidelity Mega Cap Stock Fund (the Fund) is a fund of Fidelity Hastings Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Mega Cap Stock, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I, and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions.
 
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense Ratio A
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
 
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies . The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted 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)
 
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, 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. 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 (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of June 30, 2023 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost   and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund (ETF). Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of June 30, 2023, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.   Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to   foreign currency transactions, certain corporate actions and   losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$657,232,065
Gross unrealized depreciation
(29,450,852)
Net unrealized appreciation (depreciation)
$627,781,213
Tax Cost
$1,086,597,794
 
The tax-based components of distributable earnings as of period end were as follows:
 
Undistributed ordinary income
$9,341,794
Undistributed long-term capital gain
$2,681,455
Net unrealized appreciation (depreciation) on securities and other investments
$627,774,646
 
 
 
The tax character of distributions paid was as follows:
 
 
June 30, 2023
June 30, 2022
Ordinary Income
$17,258,351
$48,982,782
Long-term Capital Gains
41,168,637
33,082,914
Total
$58,426,988
$82,065,696
 
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including options. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Options. Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date.
 
Exchange-traded written covered call options were used to manage exposure to the market. When a fund writes a covered call option, a fund holds the underlying instrument which must be delivered to the holder upon the exercise of the option.
 
Upon entering into a written options contract, a fund will receive a premium. Premiums received are reflected as a liability on the Statement of Assets and Liabilities. Options are valued daily and any unrealized appreciation (depreciation) is reflected in total accumulated earnings (loss) in the Statement of Assets and Liabilities. When a written option is exercised, the premium is added to the proceeds from the sale of the underlying instrument in determining the gain or loss realized on that investment. When an option is closed, a gain or loss is realized depending on whether the proceeds or amount paid for the closing sale transaction are greater or less than the premium received. When an option expires, gains and losses are realized to the extent of premiums received. The net realized gain (loss) on closed and expired written options and the change in net unrealized appreciation (depreciation) on written options are presented in the Statement of Operations.
 
Writing call options tends to decrease exposure to the underlying instrument and risk of loss is the change in value in excess of the premium received.
 
Any open options at period end are presented in the Schedule of Investments under the caption "Written Options", and are representative of volume of activity during the period unless an average contracts amount is presented.
 
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Mega Cap Stock Fund
250,580,351
236,494,867
 
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .20% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. For the reporting period, the total annual management fee rate was .43% of the Fund's average net assets.
 
Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:
 
 
Distribution Fee
Service Fee
Total Fees
Retained by FDC
Class A
- %
.25%
$264,748
$   9,224
Class M
.25%
.25%
140,282
-
Class C
.75%
.25%
211,263
28,884
 
 
 
$616,293
$38,108
 
Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.
 
For the period, sales charge amounts retained by FDC were as follows:
 
 
Retained by FDC
Class A
$198,881
Class M
7,262
Class C A
17,485
 
$223,628
 
A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.
 
Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class Z. FIIOC receives an asset-based fee of Class Z's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.
 
For the period, transfer agent fees for each class were as follows:
 
 
Amount
% of Class-Level Average Net Assets
Class A
$187,836
.18
Class M
52,045
.19
Class C
44,093
.21
Mega Cap Stock
1,455,067
.15
Class I
97,602
.15
Class Z
76,551
.04
 
$1,913,194
 
 
Accounting Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. For the period, the fees were equivalent to the following annual rates:
 
 
% of Average Net Assets
Fidelity Mega Cap Stock Fund
.03
 
Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:
 
 
Amount
Fidelity Mega Cap Stock Fund
$2,910
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
 
 
Borrower or Lender
Average Loan Balance
Weighted Average Interest Rate
Interest Expense
Fidelity Mega Cap Stock Fund
Borrower
$6,447,229
3.16%
$19,829
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.
 
 
Purchases ($)
Sales ($)
Realized Gain (Loss) ($)
Fidelity Mega Cap Stock Fund
22,629,000
7,980,953
1,713,863
 
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount
Fidelity Mega Cap Stock Fund
$2,538
 
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS
Security Lending Income From Securities Loaned to NFS
Value of Securities Loaned to NFS at Period End
Fidelity Mega Cap Stock Fund
$232
$-
$-
 
9. Bank Borrowings.
The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. Any open loans, including accrued interest, at period end are presented under the caption "Notes payable" in the Statement of Assets and Liabilities, if applicable. Activity in this program during the period for which loans were outstanding was as follows:
 
 
Average Loan Balance
Weighted Average Interest Rate
Interest Expense
Fidelity Mega Cap Stock Fund
$466,200
2.98%
$193
 
10. Expense Reductions.
Through arrangements with each class' transfer agent, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, transfer agent credits reduced each class' expenses as noted in the table below.
 
 
Expense reduction
Class M
$305
 
In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $55,475.
 
11. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
 
 
Year ended
June 30, 2023
Year ended
June 30, 2022
Fidelity Mega Cap Stock Fund
 
 
Distributions to shareholders
 
 
Class A
$3,853,966
$4,168,848
Class M
1,033,161
1,236,079
Class C
718,884
1,054,574
Mega Cap Stock
41,036,146
56,066,052
Class I
2,435,167
1,998,583
Class Z
9,349,664
17,541,560
Total
$58,426,988
$82,065,696
 
12. Share Transactions.
Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:
 
 
Shares
Shares
Dollars
Dollars
 
Year ended
  June 30, 2023
Year ended
  June 30, 2022
Year ended
  June 30, 2023
Year ended
  June 30, 2022
Fidelity Mega Cap Stock Fund
 
 
 
 
Class A
 
 
 
 
Shares sold
2,157,526
1,492,302
$37,668,977
$27,642,806
Reinvestment of distributions
228,217
221,711
3,827,312
4,140,030
Shares redeemed
(912,758)
(840,067)
(15,785,502)
(15,338,731)
Net increase (decrease)
1,472,985
873,946
$25,710,787
$16,444,105
Class M
 
 
 
 
Shares sold
239,387
292,638
$4,183,606
$5,511,563
Reinvestment of distributions
61,536
66,120
1,032,772
1,234,490
Shares redeemed
(277,862)
(255,295)
(4,825,558)
(4,693,563)
Net increase (decrease)
23,061
103,463
$390,820
$2,052,490
Class C
 
 
 
 
Shares sold
328,805
260,842
$5,600,248
$4,755,232
Reinvestment of distributions
43,647
57,728
716,292
1,053,354
Shares redeemed
(428,918)
(523,457)
(7,252,603)
(9,487,326)
Net increase (decrease)
(56,466)
(204,887)
$(936,063)
$(3,678,740)
Mega Cap Stock
 
 
 
 
Shares sold
14,800,679
7,598,334
$269,976,937
$146,062,944
Reinvestment of distributions
2,240,783
2,797,662
38,208,143
53,068,612
Shares redeemed
(12,025,767)
(14,201,219)
(203,167,741)
(268,561,849)
Net increase (decrease)
5,015,695
(3,805,223)
$105,017,339
$(69,430,293)
Class I
 
 
 
 
Shares sold
5,717,376
2,965,041
$104,848,193
$57,337,133
Reinvestment of distributions
141,083
103,482
2,409,447
1,967,233
Shares redeemed
(2,320,856)
(1,909,760)
(41,167,093)
(36,447,458)
Net increase (decrease)
3,537,603
1,158,763
$66,090,547
$22,856,908
Class Z
 
 
 
 
Shares sold
7,722,491
17,477,193
$125,806,074
$318,523,898
Reinvestment of distributions
80,256
547,391
1,360,444
10,313,549
Shares redeemed
(11,514,787)
(20,717,755)
(186,009,160)
(376,153,689)
Net increase (decrease)
(3,712,040)
(2,693,171)
$(58,842,642)
$(47,316,242)
 
13. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
14. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Fidelity Hastings Street Trust and Shareholders of Fidelity Mega Cap Stock Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Mega Cap Stock Fund (one of the funds constituting Fidelity Hastings Street Trust, referred to hereafter as the "Fund") as of June 30, 2023, the related statement of operations for the year ended June 30, 2023, the statement of changes in net assets for each of the two years in the period ended June 30, 2023, including the related notes, and the financial highlights for each of the five years in the period ended June 30, 2023 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of June 30, 2023, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended June 30, 2023 and the financial highlights for each of the five years in the period ended June 30, 2023 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of June 30, 2023 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
August 21, 2023
We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.
TRUSTEES AND OFFICERS
The Trustees, Members of the Advisory Board (if any), and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Each of the Trustees oversees 321 funds.
The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.
The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one.
Experience, Skills, Attributes, and Qualifications of the Trustees.   The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.
In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.
Board Structure and Oversight Function. Robert A. Lawrence is an interested person and currently serves as Chair. The Trustees have determined that an interested Chair is appropriate and benefits shareholders because an interested Chair has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chair, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chair and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. David M. Thomas serves as Lead Independent Trustee and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.
Fidelity ® funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's high income and certain equity funds, and other Boards oversee Fidelity's alternative investment, investment-grade bond, money market, asset allocation, and other equity funds. The asset allocation funds may invest in Fidelity ® funds overseen by the fund's Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity ® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity ® funds overseen by each Board.
The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations, Audit, and Compliance Committees. Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity ® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."
Interested Trustees*:
Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Bettina Doulton (1964)
Year of Election or Appointment: 2020
Trustee
Ms. Doulton also serves as Trustee of other Fidelity ® funds. Prior to her retirement, Ms. Doulton served in a variety of positions at Fidelity Investments, including as a managing director of research (2006-2007), portfolio manager to certain Fidelity ® funds (1993-2005), equity analyst and portfolio assistant (1990-1993), and research assistant (1987-1990). Ms. Doulton currently owns and operates Phi Builders + Architects and Cellardoor Winery. Previously, Ms. Doulton served as a member of the Board of Brown Capital Management, LLC (2014-2018).
Robert A. Lawrence (1952)
Year of Election or Appointment: 2020
Trustee
Chair of the Board of Trustees
Mr. Lawrence also serves as Trustee of other funds. Previously, Mr. Lawrence served as a Trustee and Member of the Advisory Board of certain funds. Prior to his retirement in 2008, Mr. Lawrence served as Vice President of certain Fidelity ® funds (2006-2008), Senior Vice President, Head of High Income Division of Fidelity Management & Research Company (investment adviser firm, 2006-2008), and President of Fidelity Strategic Investments (investment adviser firm, 2002-2005).
* Determined to be an "Interested Trustee" by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund.
Independent Trustees:
Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.
Name, Year of Birth; Principal Occupations and Other Relevant Experience+
Thomas P. Bostick (1956)
Year of Election or Appointment: 2021
Trustee
Lieutenant General Bostick also serves as Trustee of other Fidelity ® funds. Prior to his retirement, General Bostick (United States Army, Retired) held a variety of positions within the U.S. Army, including Commanding General and Chief of Engineers, U.S. Army Corps of Engineers (2012-2016) and Deputy Chief of Staff and Director of Human Resources, U.S. Army (2009-2012). General Bostick currently serves as a member of the Board and Finance and Governance & Sustainability Committees of CSX Corporation (transportation, 2020-present) and a member of the Board and Corporate Governance and Nominating Committee of Perma-Fix Environmental Services, Inc. (nuclear waste management, 2020-present). General Bostick serves as Chief Executive Officer of Bostick Global Strategies, LLC (consulting, 2016-present), as a member of the Board of HireVue, Inc. (video interview and assessment, 2020-present), as a member of the Board of Allonnia (biotechnology and engineering solutions, 2022-present) and on the Advisory Board of Solugen, Inc. (specialty bio-based chemicals manufacturer, 2022-present). Previously, General Bostick served as a Member of the Advisory Board of certain Fidelity ® funds (2021), President, Intrexon Bioengineering (2018-2020) and Chief Operating Officer (2017-2020) and Senior Vice President of the Environment Sector (2016-2017) of Intrexon Corporation (biopharmaceutical company).     
Dennis J. Dirks (1948)
Year of Election or Appointment: 2005
Trustee
Mr. Dirks also serves as Trustee of other Fidelity ® funds. Prior to his retirement in May 2003, Mr. Dirks served as Chief Operating Officer and as a member of the Board of The Depository Trust & Clearing Corporation (financial markets infrastructure), President, Chief Operating Officer and a member of the Board of The Depository Trust Company (DTC), President and a member of the Board of the National Securities Clearing Corporation (NSCC), Chief Executive Officer and a member of the Board of the Government Securities Clearing Corporation and Chief Executive Officer and a member of the Board of the Mortgage-Backed Securities Clearing Corporation. Mr. Dirks currently serves as a member of the Finance Committee (2016-present) and Board (2017-present) and is Treasurer (2018-present) of the Asolo Repertory Theatre.
Donald F. Donahue (1950)
Year of Election or Appointment: 2018
Trustee
Mr. Donahue also serves as Trustee of other Fidelity ® funds. Mr. Donahue serves as President and Chief Executive Officer of Miranda Partners, LLC (risk consulting for the financial services industry, 2012-present). Previously, Mr. Donahue served as Chief Executive Officer (2006-2012), Chief Operating Officer (2003-2006) and Managing Director, Customer Marketing and Development (1999-2003) of The Depository Trust & Clearing Corporation (financial markets infrastructure). Mr. Donahue currently serves as a member (2007-present) and Co-Chairman (2016-present) of the Board of United Way of New York. Mr. Donahue previously served as a member of the Advisory Board of certain Fidelity ® funds (2015-2018) and as a member of the Board of The Leadership Academy (previously NYC Leadership Academy) (2012-2022).     
Vicki L. Fuller (1957)
Year of Election or Appointment: 2020
Trustee
Ms. Fuller also serves as Trustee of other Fidelity ® funds. Previously, Ms. Fuller served as a member of the Advisory Board of certain Fidelity ® funds (2018-2020), Chief Investment Officer of the New York State Common Retirement Fund (2012-2018) and held a variety of positions at AllianceBernstein L.P. (global asset management, 1985-2012), including Managing Director (2006-2012) and Senior Vice President and Senior Portfolio Manager (2001-2006). Ms. Fuller currently serves as a member of the Board, Audit Committee and Nominating and Governance Committee of two Blackstone business development companies (2020-present), as a member of the Board of Treliant, LLC (consulting, 2019-present), as a member of the Board of Ariel Alternatives, LLC (private equity, 2022-present) and as a member of the Board and Chair of the Audit Committee of Gusto, Inc. (software, 2021-present). In addition, Ms. Fuller currently serves as a member of the Board of Roosevelt University (2019-present) and as a member of the Executive Board of New York University's Stern School of Business. Ms. Fuller previously served as a member of the Board, Audit Committee and Nominating and Governance Committee of The Williams Companies, Inc. (natural gas infrastructure, 2018-2021).       
Patricia L. Kampling (1959)
Year of Election or Appointment: 2020
Trustee
Ms. Kampling also serves as Trustee of other Fidelity ® funds. Prior to her retirement, Ms. Kampling served as Chairman of the Board and Chief Executive Officer (2012-2019), President and Chief Operating Officer (2011-2012) and Executive Vice President and Chief Financial Officer (2010-2011) of Alliant Energy Corporation. Ms. Kampling currently serves as a member of the Board, Finance Committee and Governance, Compensation and Nominating Committee of Xcel Energy Inc. (utilities company, 2020-present) and as a member of the Board, Audit, Finance and Risk Committee and Safety, Environmental, Technology and Operations Committee and Chair of the Executive Development and Compensation Committee of American Water Works Company, Inc. (utilities company, 2019-present). In addition, Ms. Kampling currently serves as a member of the Board of the Nature Conservancy, Wisconsin Chapter (2019-present). Previously, Ms. Kampling served as a Member of the Advisory Board of certain Fidelity® funds (2020), a member of the Board, Compensation Committee and Executive Committee and Chair of the Audit Committee of Briggs & Stratton Corporation (manufacturing, 2011-2021), a member of the Board of Interstate Power and Light Company (2012-2019) and Wisconsin Power and Light Company (2012-2019) (each a subsidiary of Alliant Energy Corporation) and as a member of the Board and Workforce Development Committee of the Business Roundtable (2018-2019).         
Thomas A. Kennedy (1955)
Year of Election or Appointment: 2021
Trustee
Mr. Kennedy also serves as Trustee of other Fidelity ®  funds. Previously, Mr. Kennedy served as a Member of the Advisory Board of certain Fidelity ®  funds (2020) and held a variety of positions at Raytheon Company (aerospace and defense, 1983-2020), including Chairman and Chief Executive Officer (2014-2020) and Executive Vice President and Chief Operating Officer (2013-2014). Mr. Kennedy served as Executive Chairman of the Board of Directors of Raytheon Technologies Corporation (aerospace and defense, 2020-2021). Mr. Kennedy serves as a Director of the Board of Directors of Textron Inc. (aerospace and defense, 2023-present).
Oscar Munoz (1959)
Year of Election or Appointment: 2021
Trustee
Mr. Munoz also serves as Trustee of other Fidelity ® funds. Prior to his retirement, Mr. Munoz served as Executive Chairman (2020-2021), Chief Executive Officer (2015-2020), President (2015-2016) and a member of the Board (2010-2021) of United Airlines Holdings, Inc. Mr. Munoz currently serves as a member of the Board of CBRE Group, Inc. (commercial real estate, 2020-present), a member of the Board of Univision Communications, Inc. (Hispanic media, 2020-present), a member of the Board of Archer Aviation Inc. (2021-present), a member of the Defense Business Board of the United States Department of Defense (2021-present) and a member of the Board of Salesforce.com, Inc. (cloud-based software, 2022-present). Previously, Mr. Munoz served as a Member of the Advisory Board of certain Fidelity ® funds (2021).
David M. Thomas (1949)
Year of Election or Appointment: 2008
Trustee
Lead Independent Trustee
Mr. Thomas also serves as Trustee of other Fidelity ® funds. Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions). Mr. Thomas currently serves as a member of the Board of Fortune Brands Home and Security (home and security products, 2004-present) and as Director (2013-present) and Non-Executive Chairman of the Board (2022-present) of Interpublic Group of Companies, Inc. (marketing communication).     
Susan Tomasky (1953)
Year of Election or Appointment: 2020
Trustee
Ms. Tomasky also serves as Trustee of other Fidelity ® funds. Prior to her retirement, Ms. Tomasky served in various executive officer positions at American Electric Power Company, Inc. (1998-2011), including most recently as President of AEP Transmission (2007-2011). Ms. Tomasky currently serves as a member of the Board and Sustainability Committee and as Chair of the Audit Committee of Marathon Petroleum Corporation (2018-present) and as a member of the Board, Executive Committee, Corporate Governance Committee and Organization and Compensation Committee and as Lead Director of the Board of Public Service Enterprise Group, Inc. (utilities company, 2012-present) and as a member of the Board of its subsidiary company, Public Service Electric and Gas Co. (2021-present). In addition, Ms. Tomasky currently serves as a member (2009-present) and President (2020-present) of the Board of the Royal Shakespeare Company - America (2009-present), as a member of the Board of the Columbus Association for the Performing Arts (2011-present) and as a member of the Board and Kenyon in the World Committee of Kenyon College (2016-present). Previously, Ms. Tomasky served as a Member of the Advisory Board of certain Fidelity ® funds (2020), as a member of the Board of the Columbus Regional Airport Authority (2007-2020), as a member of the Board (2011-2018) and Lead Independent Director (2015-2018) of Andeavor Corporation (previously Tesoro Corporation) (independent oil refiner and marketer) and as a member of the Board of Summit Midstream Partners LP (energy, 2012-2018).
Michael E. Wiley (1950)
Year of Election or Appointment: 2018
Trustee
Mr. Wiley also serves as Trustee of other Fidelity ® funds. Previously, Mr. Wiley served as a member of the Advisory Board of certain Fidelity ® funds (2018-2020), Chairman, President and CEO of Baker Hughes, Inc. (oilfield services, 2000-2004). Mr. Wiley also previously served as a member of the Board of Andeavor Corporation (independent oil refiner and marketer, 2005-2018), a member of the Board of Andeavor Logistics LP (natural resources logistics, 2015-2018) and a member of the Board of High Point Resources (exploration and production, 2005-2020).
+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund.
Advisory Board Members and Officers:
Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235. Correspondence intended for an officer or Peter S. Lynch may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.
Name, Year of Birth; Principal Occupation
Peter S. Lynch (1944)
Year of Election or Appointment: 2003
Member of the Advisory Board
Mr. Lynch also serves as a Member of the Advisory Board of other Fidelity ® funds. Mr. Lynch is Vice Chairman and a Director of Fidelity Management & Research Company LLC (investment adviser firm). In addition, Mr. Lynch serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund. Previously, Mr. Lynch served as Vice Chairman and a Director of FMR Co., Inc. (investment adviser firm) and on the Special Olympics International Board of Directors (1997-2006).     
Heather Bonner (1977)
Year of Election or Appointment: 2023
Assistant Treasurer
Ms. Bo