N-Q 1 sed.htm

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-215

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

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

Scott C. Goebel, Secretary

82 Devonshire St.

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

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

Date of fiscal year end:

December 31

 

 

Date of reporting period:

March 31, 2012

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Series
Emerging Markets Debt Fund

March 31, 2012 

1.924255.101

SED-QTLY-0512

Investments March 31, 2012 (Unaudited)

Showing Percentage of Net Assets

Corporate Bonds - 31.2%

 

Principal Amount (c)

Value

Convertible Bonds - 0.2%

United Kingdom - 0.2%

Vedanta Resources Jersey II Ltd. 4% 3/30/17

$ 1,500,000

$ 1,440,000

Nonconvertible Bonds - 31.0%

Argentina - 2.0%

Aeropuertos Argentina 2000 SA 10.75% 12/1/20 (e)

2,042,500

2,093,563

City of Buenos Aires 12.5% 4/6/15 (e)

7,380,000

7,712,100

Empresa Distribuidora y Comercializadora Norte SA 9.75% 10/25/22 (e)

2,020,000

1,191,800

Pan American Energy LLC 7.875% 5/7/21 (e)

2,400,000

2,334,000

Transportadora de Gas del Sur SA 7.875% 5/14/17 (e)

6,360,000

5,628,600

YPF SA 10% 11/2/28

215,000

224,675

TOTAL ARGENTINA

19,184,738

Brazil - 1.5%

Banco Nacional de Desenvolvimento Economico e Social:

5.5% 7/12/20 (e)

1,300,000

1,454,050

6.5% 6/10/19 (e)

1,360,000

1,599,700

BFF International Ltd. 7.25% 1/28/20 (e)

1,825,000

2,039,438

Braskem Finance Ltd. 7% 5/7/20 (e)

2,560,000

2,873,600

Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 6.25% 12/16/20 (e)

900,000

954,000

OGX Petroleo e Gas Participacoes SA 8.5% 6/1/18 (e)

3,210,000

3,338,400

Votorantim Cimentos SA 7.25% 4/5/41 (e)

1,825,000

1,847,813

TOTAL BRAZIL

14,107,001

British Virgin Islands - 0.2%

Arcos Dorados Holdings, Inc. 10.25% 7/13/16 (e)

BRL

4,087,000

2,327,818

Canada - 0.6%

Pacific Rubiales Energy Corp. 7.25% 12/12/21 (e)

4,273,000

4,689,618

Sino-Forest Corp. 6.25% 10/21/17 (b)(e)

3,220,000

772,800

TOTAL CANADA

5,462,418

Cayman Islands - 1.8%

Fibria Overseas Finance Ltd. 6.75% 3/3/21 (e)

2,405,000

2,468,131

Mongolian Mining Corp. 8.875% 3/29/17 (e)

2,450,000

2,431,625

Odebrecht Finance Ltd. 7.5% (e)(f)

5,810,000

5,939,563

Petrobras International Finance Co. Ltd.:

5.375% 1/27/21

1,590,000

1,712,015

Corporate Bonds - continued

 

Principal Amount (c)

Value

Nonconvertible Bonds - continued

Cayman Islands - continued

Petrobras International Finance Co. Ltd.: - continued

6.875% 1/20/40

$ 1,485,000

$ 1,739,084

8.375% 12/10/18

2,605,000

3,296,628

TOTAL CAYMAN ISLANDS

17,587,046

Chile - 0.2%

Automotores Gildemeister SA 8.25% 5/24/21 (e)

1,420,000

1,514,146

Egypt - 0.1%

African Export-Import Bank 8.75% 11/13/14

1,350,000

1,485,000

El Salvador - 0.4%

Telemovil Finance Co. Ltd. 8% 10/1/17 (e)

4,009,000

4,109,225

Georgia - 0.2%

Georgian Railway Ltd. 9.875% 7/22/15

1,750,000

1,863,750

Germany - 0.3%

Rearden G Holdings Eins GmbH 7.875% 3/30/20 (e)

2,790,000

2,929,500

Indonesia - 0.6%

Indo Energy Finance BV 7% 5/7/18 (e)

1,100,000

1,122,000

PT Adaro Indonesia 7.625% 10/22/19 (e)

800,000

870,000

PT Pertamina Persero:

5.25% 5/23/21 (e)

1,600,000

1,672,000

6.5% 5/27/41 (e)

1,580,000

1,702,450

TOTAL INDONESIA

5,366,450

Ireland - 0.6%

SCF Capital Ltd. 5.375% 10/27/17 (e)

1,000,000

955,000

VIP Finance Ireland Ltd. 7.748% 2/2/21 (e)

2,375,000

2,339,375

Vnesheconombank Via VEB Finance PLC:

5.375% 2/13/17 (e)

1,740,000

1,796,550

6.8% 11/22/25 (e)

1,069,000

1,117,105

TOTAL IRELAND

6,208,030

Kazakhstan - 0.7%

Development Bank of Kazakhstan JSC 5.5% 12/20/15 (e)

1,650,000

1,753,125

Zhaikmunai Finance BV 10.5% 10/19/15 (e)

4,425,000

4,646,250

TOTAL KAZAKHSTAN

6,399,375

Corporate Bonds - continued

 

Principal Amount (c)

Value

Nonconvertible Bonds - continued

Luxembourg - 2.6%

Alrosa Finance SA:

(Reg. S) 8.875% 11/17/14

$ 2,150,000

$ 2,375,750

7.75% 11/3/20 (e)

1,050,000

1,115,625

Aquarius Investments Luxemburg 8.25% 2/18/16

2,225,000

2,291,750

EVRAZ Group SA 8.25% 11/10/15 (e)

4,325,000

4,627,750

MHP SA 10.25% 4/29/15 (e)

2,385,000

2,277,675

RSHB Capital SA:

6% 6/3/21 (e)

1,005,000

982,388

9% 6/11/14 (e)

1,210,000

1,340,075

Steel Capital SA Ln Partner Net Program 6.25% 7/26/16 (e)

1,535,000

1,531,163

TMK Capital SA 7.75% 1/27/18

1,445,000

1,412,488

Vimpel Communications 8.25% 5/23/16 (Reg. S) (Issued by UBS Luxembourg SA for Vimpel Communications)

6,075,000

6,591,375

TOTAL LUXEMBOURG

24,546,039

Mexico - 3.3%

Alestra SA de RL de CV 11.75% 8/11/14

4,120,000

4,635,000

Gruma SAB de CV 7.75% (Reg. S) (f)

3,009,000

3,024,045

Kansas City Southern de Mexico SA de CV 12.5% 4/1/16

626,000

726,160

Petroleos Mexicanos:

4.875% 1/24/22 (e)

2,305,000

2,420,250

5.5% 1/21/21

2,950,000

3,259,750

6% 3/5/20

2,000,000

2,285,000

6.5% 6/2/41

1,250,000

1,406,250

6.5% 6/2/41 (e)

1,165,000

1,304,800

6.625% (e)(f)

7,855,000

8,110,288

8% 5/3/19

1,350,000

1,714,500

TV Azteca SA de CV 7.5% 5/25/18 (Reg. S)

2,335,000

2,387,538

TOTAL MEXICO

31,273,581

Mongolia - 0.2%

Trade & Development Bank of Mongolia LLC 8.5% 10/25/13

1,475,000

1,489,750

Multi-National - 0.5%

Eastern and Southern African Trade and Development Bank 6.875% 1/9/16 (Reg. S)

1,000,000

965,000

Corporate Bonds - continued

 

Principal Amount (c)

Value

Nonconvertible Bonds - continued

Multi-National - continued

International Bank for Reconstruction & Development:

8% 6/20/13

NGN

199,000,000

$ 1,217,471

8.2% 12/12/12

NGN

480,000,000

2,891,566

TOTAL MULTI-NATIONAL

5,074,037

Netherlands - 3.5%

DTEK Finance BV 9.5% 4/28/15 (e)

$ 1,700,000

1,632,000

HSBK (Europe) BV:

7.25% 5/3/17 (e)

3,150,000

3,276,000

9.25% 10/16/13 (e)

3,220,000

3,413,200

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

1,175,000

1,271,938

JSC Kazkommertsbank BV 8% 11/3/15 (e)

1,035,000

985,838

Kazkommerts International BV 8.5% 4/16/13 (e)

1,230,000

1,242,300

KazMunaiGaz Finance Sub BV:

6.375% 4/9/21 (e)

2,025,000

2,227,500

7% 5/5/20 (e)

1,985,000

2,262,900

9.125% 7/2/18 (e)

2,825,000

3,524,188

11.75% 1/23/15 (e)

2,675,000

3,263,500

Listrindo Capital BV 6.95% 2/21/19 (e)

1,530,000

1,575,900

Majapahit Holding BV:

7.25% 6/28/17 (Reg. S)

800,000

920,000

7.75% 1/20/20 (e)

1,650,000

1,971,750

8% 8/7/19 (e)

1,175,000

1,421,750

Metinvest BV 10.25% 5/20/15 (e)

2,100,000

2,089,500

VimpelCom Holdings BV 7.5043% 3/1/22 (e)

2,345,000

2,259,994

TOTAL NETHERLANDS

33,338,258

Pakistan - 0.4%

Pakistan Mobile Communications Ltd. 8.625% 11/13/13 (e)

4,364,000

4,233,080

Paraguay - 0.3%

BBVA Paraguay SA 9.75% 2/11/16 (e)

2,400,000

2,544,000

Philippines - 0.5%

Development Bank of Philippines 8.375% (f)(g)

1,065,000

1,144,875

National Power Corp. 6.875% 11/2/16 (e)

650,000

750,750

Corporate Bonds - continued

 

Principal Amount (c)

Value

Nonconvertible Bonds - continued

Philippines - continued

Power Sector Assets and Liabilities Management Corp.:

7.25% 5/27/19 (e)

$ 1,100,000

$ 1,342,000

7.39% 12/2/24 (e)

1,300,000

1,644,500

TOTAL PHILIPPINES

4,882,125

Russia - 0.6%

MTS International Funding Ltd. 8.625% 6/22/20 (e)

5,175,000

5,990,063

Trinidad & Tobago - 0.1%

Petroleum Co. of Trinidad & Tobago Ltd. (Reg. S) 6% 5/8/22

1,290,625

1,335,797

Turkey - 0.9%

Akbank T.A.S. 5.125% 7/22/15 (e)

3,600,000

3,595,500

Turkiye Garanti Bankasi A/S 3.0612% 4/20/16 (e)(g)

1,395,000

1,293,863

Turkiye Is Bankasi A/S 5.1% 2/1/16 (e)

1,300,000

1,300,000

Yapi ve Kredi Bankasi A/S 6.75% 2/8/17 (e)

2,515,000

2,577,875

TOTAL TURKEY

8,767,238

United Kingdom - 1.0%

Afren PLC 11.5% 2/1/16 (e)

1,350,000

1,461,375

Biz Finance PLC 8.375% 4/27/15 (Reg. S)

3,500,000

3,211,250

The State Export-Import Bank of Ukraine JSC 5.7928% 2/9/16 (Issued by Credit Suisse First Boston International for The State Export-Import Bank of Ukraine JSC) (d)

3,050,000

2,379,000

Vedanta Resources PLC 6.75% 6/7/16 (e)

2,950,000

2,743,500

TOTAL UNITED KINGDOM

9,795,125

United States of America - 1.5%

Braskem America Finance Co. 7.125% 7/22/41 (e)

1,060,000

1,070,600

NII Capital Corp. 8.875% 12/15/19

2,300,000

2,409,250

Pemex Project Funding Master Trust:

5.75% 3/1/18

2,855,000

3,240,425

6.625% 6/15/35

5,140,000

5,833,900

Southern Copper Corp. 6.75% 4/16/40

1,275,000

1,410,188

TOTAL UNITED STATES OF AMERICA

13,964,363

US Virgin Islands - 0.2%

Magnesita Finance Ltd. 8.625% (e)(f)

1,495,000

1,495,000

Corporate Bonds - continued

 

Principal Amount (c)

Value

Nonconvertible Bonds - continued

Venezuela - 6.2%

Petroleos de Venezuela SA:

4.9% 10/28/14

$ 12,825,000

$ 11,478,375

5% 10/28/15

1,405,000

1,162,638

5.375% 4/12/27

10,085,000

6,202,275

5.5% 4/12/37

7,900,000

4,680,750

8% 11/17/13

2,685,000

2,682,315

8.5% 11/2/17 (e)

26,095,000

23,159,313

12.75% 2/17/22 (e)

10,415,000

10,362,925

TOTAL VENEZUELA

59,728,591

TOTAL NONCONVERTIBLE BONDS

297,001,544

TOTAL CORPORATE BONDS

(Cost $285,818,046)


298,441,544

Government Obligations - 61.5%

 

Argentina - 4.8%

Argentine Republic:

discount (with partial capitalization through 12/31/13) 8.28% 12/31/33

6,188,878

4,579,770

2.5% 12/31/38 (d)

4,700,000

1,692,000

7% 9/12/13

15,965,000

16,068,773

7% 10/3/15

21,705,000

20,344,217

Provincia de Cordoba 12.375% 8/17/17 (e)

3,555,000

3,057,300

TOTAL ARGENTINA

45,742,060

Bahamas (Nassau) - 0.2%

Bahamian Republic 6.95% 11/20/29 (e)

1,945,000

2,227,025

Bahrain - 0.1%

Bahrain Kingdom 5.5% 3/31/20

1,350,000

1,336,500

Belarus - 1.1%

Belarus Republic:

8.75% 8/3/15 (Reg. S)

9,655,000

8,882,600

8.95% 1/26/18

2,025,000

1,837,688

TOTAL BELARUS

10,720,288

Bermuda - 0.1%

Bermuda Government 5.603% 7/20/20 (e)

920,000

1,044,200

Government Obligations - continued

 

Principal Amount (c)

Value

Brazil - 2.1%

Banco Nacional de Desenvolvimento Economico e Social 6.369% 6/16/18 (e)

$ 1,715,000

$ 1,993,688

Brazilian Federative Republic:

7.125% 1/20/37

2,295,000

3,149,888

8.25% 1/20/34

1,620,000

2,450,250

8.75% 2/4/25

1,075,000

1,631,313

10.125% 5/15/27

3,695,000

6,152,175

12.25% 3/6/30

2,345,000

4,549,300

TOTAL BRAZIL

19,926,614

Colombia - 2.1%

Colombian Republic:

4.375% 7/12/21

1,955,000

2,130,950

6.125% 1/18/41

2,320,000

2,853,600

7.375% 3/18/19

1,440,000

1,846,800

7.375% 9/18/37

3,450,000

4,847,250

10.375% 1/28/33

3,850,000

6,477,625

11.75% 2/25/20

1,450,000

2,305,500

TOTAL COLOMBIA

20,461,725

Congo - 0.5%

Congo Republic 3% 6/30/29 (d)

6,238,650

4,725,777

Croatia - 1.2%

Croatia Republic:

6.375% 3/24/21 (e)

3,150,000

3,020,220

6.625% 7/14/20 (e)

4,020,000

3,959,700

6.75% 11/5/19 (e)

4,075,000

4,064,813

TOTAL CROATIA

11,044,733

Dominican Republic - 0.9%

Dominican Republic:

1.5522% 8/30/24 (g)

2,650,000

2,385,000

7.5% 5/6/21 (e)

3,910,000

4,046,850

9.04% 1/23/18 (e)

1,688,649

1,849,071

TOTAL DOMINICAN REPUBLIC

8,280,921

El Salvador - 0.6%

El Salvador Republic:

7.375% 12/1/19 (e)

1,200,000

1,287,000

7.625% 2/1/41 (e)

1,200,000

1,200,000

7.65% 6/15/35 (Reg. S)

1,275,000

1,300,500

Government Obligations - continued

 

Principal Amount (c)

Value

El Salvador - continued

El Salvador Republic: - continued

7.75% 1/24/23 (Reg. S)

$ 1,200,000

$ 1,308,000

8.25% 4/10/32 (Reg. S)

800,000

872,000

TOTAL EL SALVADOR

5,967,500

Gabon - 0.2%

Gabonese Republic 8.2% 12/12/17 (e)

1,550,000

1,883,250

Georgia - 0.4%

Georgia Republic 6.875% 4/12/21 (e)

3,985,000

4,204,175

Ghana - 0.6%

Ghana Republic:

8.5% 10/4/17 (e)

1,750,000

2,003,750

14.25% 7/29/13

GHS

2,350,000

1,313,623

14.99% 3/11/13

GHS

2,775,000

1,569,256

15.65% 6/3/13

GHS

2,000,000

1,135,003

TOTAL GHANA

6,021,632

Hungary - 1.3%

Hungarian Republic:

4.75% 2/3/15

8,065,000

7,581,100

7.625% 3/29/41

5,100,000

4,615,500

TOTAL HUNGARY

12,196,600

Indonesia - 3.5%

Indonesian Republic:

4.875% 5/5/21 (e)

2,955,000

3,202,629

5.25% 1/17/42 (e)

2,280,000

2,388,300

5.875% 3/13/20 (e)

3,425,000

3,921,625

6.625% 2/17/37 (e)

2,550,000

3,142,875

6.875% 1/17/18 (e)

2,300,000

2,734,240

7.75% 1/17/38 (e)

4,230,000

5,858,550

8.5% 10/12/35 (Reg. S)

4,075,000

6,051,375

11.625% 3/4/19 (e)

4,400,000

6,534,000

TOTAL INDONESIA

33,833,594

Iraq - 0.7%

Republic of Iraq 5.8% 1/15/28 (Reg. S)

7,425,000

6,218,438

Jordan - 0.1%

Jordanian Kingdom 3.875% 11/12/15

1,350,000

1,312,875

Korea (South) - 0.3%

Korean Republic 7.125% 4/16/19

1,915,000

2,368,953

Government Obligations - continued

 

Principal Amount (c)

Value

Latvia - 0.5%

Latvian Republic:

5.25% 2/22/17 (e)

$ 3,165,000

$ 3,267,863

5.25% 6/16/21 (e)

1,310,000

1,316,550

TOTAL LATVIA

4,584,413

Lebanon - 0.8%

Lebanese Republic:

4% 12/31/17

6,219,000

6,172,358

5.15% 11/12/18

1,050,000

1,057,875

TOTAL LEBANON

7,230,233

Lithuania - 1.2%

Lithuanian Republic:

6.125% 3/9/21 (e)

3,075,000

3,321,000

6.625% 2/1/22 (e)

2,195,000

2,428,329

6.75% 1/15/15 (e)

1,325,000

1,431,000

7.375% 2/11/20 (e)

3,400,000

3,965,250

TOTAL LITHUANIA

11,145,579

Mexico - 3.5%

United Mexican States:

3.625% 3/15/22

2,388,000

2,435,760

4.75% 3/8/44

1,598,000

1,566,040

5.125% 1/15/20

3,398,000

3,899,205

5.625% 1/15/17

1,656,000

1,916,820

5.75% 10/12/10

3,634,000

3,743,020

5.95% 3/19/19

2,090,000

2,505,910

6.05% 1/11/40

6,056,000

7,267,200

6.75% 9/27/34

4,350,000

5,568,000

7.5% 4/8/33

1,500,000

2,081,250

8.3% 8/15/31

1,510,000

2,242,350

TOTAL MEXICO

33,225,555

Namibia - 0.2%

Namibia Republic of 5.5% 11/3/21 (e)

2,070,000

2,152,800

Nigeria - 0.3%

Republic of Nigeria:

6.75% 1/28/21 (e)

1,500,000

1,646,250

17.6% 3/7/13

NGN

172,000,000

927,408

TOTAL NIGERIA

2,573,658

Government Obligations - continued

 

Principal Amount (c)

Value

Pakistan - 0.5%

Islamic Republic of Pakistan 7.125% 3/31/16 (e)

$ 6,050,000

$ 5,082,000

Peru - 1.5%

Peruvian Republic:

3% 3/7/27 (d)

2,950,000

2,743,500

5.625% 11/18/50

2,560,000

2,841,600

7.35% 7/21/25

1,500,000

2,051,250

8.75% 11/21/33

4,180,000

6,479,000

TOTAL PERU

14,115,350

Philippines - 2.1%

Philippine Republic:

6.375% 1/15/32

1,000,000

1,215,000

7.5% 9/25/24

890,000

1,157,000

7.75% 1/14/31

3,000,000

4,140,000

9.5% 2/2/30

3,945,000

6,233,100

9.875% 1/15/19

1,325,000

1,855,000

10.625% 3/16/25

3,535,000

5,709,025

TOTAL PHILIPPINES

20,309,125

Poland - 0.9%

Polish Government:

3.875% 7/16/15

850,000

892,500

5% 3/23/22

1,535,000

1,625,181

5.125% 4/21/21

1,170,000

1,249,560

6.375% 7/15/19

4,125,000

4,815,937

TOTAL POLAND

8,583,178

Qatar - 0.2%

State of Qatar 5.75% 1/20/42 (e)

1,940,000

2,092,290

Romania - 0.5%

Romanian Republic 6.75% 2/7/22 (e)

4,786,000

5,013,335

Russia - 5.6%

Russian Federation:

3.325% 4/4/17 (e)

1,600,000

1,611,200

4.5% 4/4/22 (e)

400,000

403,000

5.625% 4/4/42 (e)

2,400,000

2,416,800

7.5% 3/31/30 (Reg. S)

28,919,625

34,573,397

11% 7/24/18 (Reg. S)

2,080,000

2,912,000

12.75% 6/24/28 (Reg. S)

6,625,000

11,908,437

TOTAL RUSSIA

53,824,834

Government Obligations - continued

 

Principal Amount (c)

Value

Senegal - 0.1%

Senegal Republic of 8.75% 5/13/21 (e)

$ 1,125,000

$ 1,220,625

Serbia - 1.7%

Republic of Serbia 6.75% 11/1/24 (e)

16,471,003

16,306,293

Sri Lanka - 1.0%

Democratic Socialist Republic of Sri Lanka:

6.25% 10/4/20 (e)

4,280,000

4,269,300

6.25% 7/27/21 (e)

1,970,000

1,970,000

7.4% 1/22/15 (e)

3,175,000

3,349,625

TOTAL SRI LANKA

9,588,925

Turkey - 6.3%

Turkish Republic:

5.125% 3/25/22

2,315,000

2,300,647

5.625% 3/30/21

2,600,000

2,713,880

6% 1/14/41

1,250,000

1,232,875

6.25% 9/26/22

1,500,000

1,620,000

6.75% 4/3/18

4,500,000

5,034,600

6.75% 5/30/40

3,200,000

3,480,000

6.875% 3/17/36

7,020,000

7,757,100

7% 9/26/16

4,150,000

4,648,000

7.25% 3/15/15

4,275,000

4,718,745

7.25% 3/5/38

3,825,000

4,417,875

7.375% 2/5/25

6,350,000

7,461,250

7.5% 7/14/17

4,550,000

5,232,500

7.5% 11/7/19

3,300,000

3,861,000

11.875% 1/15/30

3,650,000

6,164,120

TOTAL TURKEY

60,642,592

Ukraine - 3.0%

Ukraine Financing of Infrastructure Projects State Enterprise 8.375% 11/3/17 (e)

3,850,000

3,118,500

Ukraine Government:

6.25% 6/17/16 (e)

3,415,000

2,936,900

6.385% 6/26/12 (e)

7,400,000

7,372,620

6.75% 11/14/17 (e)

3,025,000

2,590,308

6.875% 9/23/15 (e)

2,800,000

2,537,640

7.65% 6/11/13 (e)

6,805,000

6,566,825

7.75% 9/23/20 (e)

2,550,000

2,167,500

7.95% 2/23/21 (e)

1,700,000

1,457,750

TOTAL UKRAINE

28,748,043

Government Obligations - continued

 

Principal Amount (c)

Value

United Arab Emirates - 0.1%

United Arab Emirates 7.75% 10/5/20 (Reg. S)

$ 1,190,000

$ 1,310,488

United States of America - 0.9%

U.S. Treasury Bonds 3.125% 2/15/42

8,620,000

8,230,755

Uruguay - 0.9%

Uruguay Republic:

7.875% 1/15/33 pay-in-kind

3,425,000

4,786,438

8% 11/18/22

2,756,250

3,796,734

TOTAL URUGUAY

8,583,172

Venezuela - 7.4%

Venezuelan Republic:

oil recovery rights 4/15/20 (h)

48,200

1,470,100

6% 12/9/20

2,330,000

1,700,900

7% 3/31/38

2,000,000

1,410,000

7.75% 10/13/19 (Reg. S)

4,375,000

3,675,000

8.5% 10/8/14

2,700,000

2,700,000

9% 5/7/23 (Reg. S)

11,075,000

9,469,125

9.25% 9/15/27

7,100,000

6,230,250

9.25% 5/7/28 (Reg. S)

4,215,000

3,487,913

9.375% 1/13/34

3,930,000

3,252,075

10.75% 9/19/13

4,250,000

4,430,625

11.75% 10/21/26 (Reg. S)

6,215,000

6,075,163

11.95% 8/5/31 (Reg. S)

10,535,000

10,324,300

12.75% 8/23/22

13,000,000

13,650,000

13.625% 8/15/18

2,415,000

2,632,350

TOTAL VENEZUELA

70,507,801

Vietnam - 1.5%

Vietnamese Socialist Republic:

1.5567% 3/12/16 (g)

2,672,000

2,404,800

4% 3/12/28 (d)

8,550,000

7,011,000

6.875% 1/15/16 (e)

4,480,000

4,883,200

TOTAL VIETNAM

14,299,000

TOTAL GOVERNMENT OBLIGATIONS

(Cost $568,542,415)


588,886,904

Sovereign Loan Participations - 0.6%

 

Principal Amount (c)

Value

Indonesia - 0.6%

Indonesian Republic loan participation Goldman Sachs 1.25% 12/14/19 (g)
(Cost $5,455,164)

$ 5,741,111

$ 5,425,350

Preferred Securities - 1.0%

 

 

 

 

Brazil - 0.5%

Globo Comunicacoes e Participacoes SA 6.25% (d)(e)(f)

4,600,000

4,960,828

Cayman Islands - 0.5%

CSN Islands XII Corp. 7% (Reg. S) (f)

4,525,000

4,554,511

TOTAL PREFERRED SECURITIES

(Cost $9,312,239)


9,515,339

Money Market Funds - 4.3%

Shares

 

Fidelity Cash Central Fund, 0.14% (a)
(Cost $41,078,562)

41,078,562


41,078,562

TOTAL INVESTMENT PORTFOLIO - 98.6%

(Cost $910,206,426)

943,347,699

NET OTHER ASSETS (LIABILITIES) - 1.4%

13,458,182

NET ASSETS - 100%

$ 956,805,881

Currency Abbreviations

BRL

-

Brazilian real

GHS

-

Ghana Cedi

NGN

-

Nigerian naira

Legend

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

(b) Non-income producing - Security is in default.

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

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

(e) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $364,122,865 or 38.1% of net assets.

(f) Security is perpetual in nature with no stated maturity date.

(g) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(h) Quantity represents share amount.

Affiliated Central Funds

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

Fund

Income earned

Fidelity Cash Central Fund

$ 17,975

Other Information

The following is a summary of the inputs used, as of March 31, 2012, 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 in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Corporate Bonds

$ 298,441,544

$ -

$ 298,441,544

$ -

Government Obligations

588,886,904

-

587,416,804

1,470,100

Sovereign Loan Participations

5,425,350

-

5,425,350

-

Preferred Securities

9,515,339

-

9,515,339

-

Money Market Funds

41,078,562

41,078,562

-

-

Total Investments in Securities:

$ 943,347,699

$ 41,078,562

$ 900,799,037

$ 1,470,100

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:

Beginning Balance

$ 9,628,801

Total Realized Gain (Loss)

-

Total Unrealized Gain (Loss)

156,650

Cost of Purchases

-

Proceeds of Sales

-

Amortization/Accretion

-

Transfers in to Level 3

-

Transfers out of Level 3

(8,315,351)

Ending Balance

$ 1,470,100

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at March 31, 2012

$ 156,650

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

Income Tax Information

At March 31, 2012, the cost of investment securities for income tax purposes was $907,723,868. Net unrealized appreciation aggregated $35,623,831, of which $47,142,568 related to appreciated investment securities and $11,518,737 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, foreign government and government agency obligations, preferred securities and sovereign loan participations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. The Fund invests a significant portion of its assets in below investment grade securities. The value of these securities can be more volatile due to changes in the credit quality of the issuer and is sensitive to changes in economic, market and regulatory conditions.

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

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

Quarterly Report

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

see the fund's most recent prospectus and annual report.

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

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

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

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

Item 3. Exhibits

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

SIGNATURES

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

Fidelity Hastings Street Trust

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

May 30, 2012

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

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

May 30, 2012

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

May 30, 2012