N-Q 1 main.htm

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

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3221

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

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

Eric D. Roiter, Secretary

82 Devonshire St.

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

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

Date of fiscal year end:

October 31

Date of reporting period:

July 31, 2007

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Global Balanced Fund

July 31, 2007

1.804837.103

GBL-QTLY-0907

Investments July 31, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 59.6%

Shares

Value

Argentina - 0.1%

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

16,200

$ 321,408

Australia - 3.9%

AMP Ltd.

106,385

911,999

ASX Ltd.

22,989

960,893

Babcock & Brown Ltd.

24,300

583,737

BHP Billiton Ltd.

34,034

1,085,342

Computershare Ltd.

99,800

849,595

CSL Ltd.

28,500

2,160,264

Macquarie Bank Ltd.

12,500

878,780

McGuigan Simeon Wines Ltd. (a)

122,200

211,389

National Australia Bank Ltd.

27,327

893,278

Publishing & Broadcasting Ltd.

51,900

819,076

QBE Insurance Group Ltd.

33,400

853,000

Sunland Group Ltd.

217,195

736,629

United Group Ltd.

63,300

1,003,304

Woolworths Ltd.

38,600

897,650

Wotif.com Holdings Ltd.

21,680

108,631

TOTAL AUSTRALIA

12,953,567

Austria - 0.2%

voestalpine AG

6,000

508,452

Belgium - 0.2%

InBev SA

7,000

568,673

Bermuda - 0.6%

Allied World Assurance Co. Holdings
Ltd.

7,500

355,875

Aquarius Platinum Ltd. (United Kingdom)

16,500

490,370

Endurance Specialty Holdings Ltd.

10,500

392,700

SeaDrill Ltd. (a)

30,600

623,413

TOTAL BERMUDA

1,862,358

Canada - 0.7%

Cameco Corp.

9,100

369,392

Canadian Natural Resources Ltd.

10,500

720,638

Potash Corp. of Saskatchewan, Inc.

8,900

718,586

Suncor Energy, Inc.

6,500

587,724

TOTAL CANADA

2,396,340

Cyprus - 0.2%

Bank of Cyprus Public Co. Ltd.

41,700

734,935

Finland - 0.4%

Metso Corp.

9,600

617,400

Nokia Corp. sponsored ADR

26,900

770,416

TOTAL FINLAND

1,387,816

France - 3.5%

Alcatel-Lucent SA sponsored ADR

39,700

460,520

Alstom SA

8,000

1,464,682

Shares

Value

AXA SA

25,900

$ 1,014,248

Bouygues SA

6,400

517,915

Business Objects SA (a)

8,700

391,502

Cap Gemini SA

7,700

513,118

Eutelsat Communications

14,600

331,633

Groupe Danone

11,800

843,656

Icade SA

7,068

478,933

LVMH Moet Hennessy - Louis Vuitton

5,800

656,819

Pinault Printemps-Redoute SA

2,900

510,035

Remy Cointreau SA

6,000

439,405

Societe Generale Series A

5,900

1,026,600

Suez SA (France)

11,800

629,230

Total SA sponsored ADR

12,000

943,320

Veolia Environnement

8,212

612,298

Vinci SA

8,400

610,109

TOTAL FRANCE

11,444,023

Germany - 3.6%

Adidas-Salomon AG

8,900

545,832

Allianz AG (Reg.)

4,900

1,038,804

Arcandor AG (a)

17,900

551,838

Bayer AG

11,000

778,473

Continental AG

3,600

522,212

DaimlerChrysler AG

5,400

490,050

E.ON AG

8,100

1,271,624

Hochtief AG

4,800

488,731

Lanxess AG

10,300

559,532

Linde AG

4,300

511,076

MAN AG

5,600

820,835

Muenchener Rueckversicherungs-Gesellschaft AG (Reg.)

4,600

798,383

RWE AG

7,300

780,437

Siemens AG:

(Reg.)

9,400

1,190,327

sponsored ADR

4,300

544,509

SolarWorld AG

11,200

545,282

Wacker Chemie AG

2,200

543,372

TOTAL GERMANY

11,981,317

Greece - 0.4%

Bank of Piraeus

17,950

648,434

Cosmote Mobile Telecommunications SA

16,700

505,474

TOTAL GREECE

1,153,908

Hong Kong - 0.9%

Hang Seng Bank Ltd.

64,700

1,019,567

Hong Kong Exchanges & Clearing Ltd.

64,500

1,052,509

Li & Fung Ltd.

266,000

921,687

TOTAL HONG KONG

2,993,763

Common Stocks - continued

Shares

Value

India - 0.3%

Bharat Heavy Electricals Ltd.

8,607

$ 370,065

Jain Irrigation Systems Ltd.

21,501

282,766

Larsen & Toubro Ltd.

5,701

369,920

TOTAL INDIA

1,022,751

Ireland - 0.3%

Anglo Irish Bank Corp. PLC

14,300

268,073

CRH PLC

11,000

494,453

Smurfit Kappa Group plc

16,400

384,862

TOTAL IRELAND

1,147,388

Italy - 0.9%

Buzzi Unicem SpA

13,100

406,368

IFIL Finanziaria di Partecipazioni SpA

5,836

62,392

Intesa Sanpaolo SpA

121,800

930,824

Prysmian SpA

7,200

197,239

Unicredito Italiano SpA

100,000

858,366

Valentino Fashion Group SpA

7,400

351,770

TOTAL ITALY

2,806,959

Japan - 7.9%

ABC-Mart, Inc.

7,600

188,914

Aeon Mall Co. Ltd.

5,300

158,533

Asahi Glass Co. Ltd.

44,000

589,105

Atlus Co. Ltd. (a)

26,700

135,152

Canon, Inc.

13,900

737,812

Chugoku Marine Paints Ltd.

9,000

118,128

Daihen Corp.

26,000

146,112

Daiichi Sankyo Co. Ltd.

10,100

279,072

Eagle Industry Co. Ltd.

33,000

492,754

East Japan Railway Co.

53

393,098

Fuji Machine Manufacturing Co. Ltd.

6,300

144,512

Fujitsu Ltd.

44,000

290,420

Hitachi Software Engineerng Co. Ltd.

9,700

222,538

Ibiden Co. Ltd.

11,500

843,126

Japan Securities Finance Co. Ltd.

15,400

208,777

Kandenko Co. Ltd. (f)

45,000

264,594

Komatsu Ltd.

28,000

883,709

Konica Minolta Holdings, Inc.

52,000

768,810

Kuraray Co. Ltd.

24,000

275,944

Lawson, Inc.

8,000

275,070

Maeda Road Construction Co. Ltd.

35,000

316,180

Makita Corp.

9,300

429,735

Marui Co. Ltd.

10,300

116,283

Millea Holdings, Inc.

2,300

90,965

Mitsubishi Corp.

16,400

484,307

Mitsui & Co. Ltd.

34,000

799,018

Mitsui Engineering & Shipbuilding Co.

24,000

130,728

Mitsui Mining & Smelting Co. Ltd.

50,000

240,178

Mitsui O.S.K. Lines Ltd.

66,000

1,030,369

Mizuho Financial Group, Inc.

227

1,598,786

Shares

Value

Murata Manufacturing Co. Ltd.

4,300

$ 321,267

Namco Bandai Holdings, Inc.

8,600

134,753

Nichicon Corp.

28,600

447,928

Nintendo Co. Ltd.

4,800

2,352,000

Nippon Oil Corp.

35,000

311,615

Nippon Paint Co. Ltd. (f)

25,000

126,322

Nippon Steel Corp.

70,000

526,520

Nippon Suisan Kaisha Co. Ltd.

16,000

89,988

Nomura Holdings, Inc.

8,100

153,657

NSK Ltd.

30,000

287,408

Okinawa Cellular Telephone Co.

83

221,795

Osaka Securities Exchange Co. Ltd.

18

75,426

Sankei Building Co. Ltd. (f)

25,900

248,750

Shin-Etsu Chemical Co. Ltd.

10,100

745,778

Sumco Corp.

6,400

328,580

Sumitomo Electric Industries Ltd.

18,400

300,073

Sumitomo Metal Industries Ltd.

110,000

633,441

Sumitomo Mitsui Financial Group, Inc.

82

741,054

Sumitomo Trust & Banking Co. Ltd.

1,000

8,443

T&D Holdings, Inc.

4,750

310,637

Takeda Pharamaceutical Co. Ltd.

18,800

1,224,657

Tamron Co. Ltd.

9,300

282,544

The Sumitomo Warehouse Co. Ltd.

25,000

154,054

TIS, Inc.

7,500

169,722

Toho Zinc Co. Ltd.

11,000

104,838

Tohokushinsha Film Corp.

11,500

116,011

Tokai Carbon Co. Ltd.

73,000

798,638

Tokyo Tomin Bank Ltd.

2,900

100,569

Toyoda Gosei Co. Ltd.

3,800

120,632

Toyota Motor Corp.

26,900

1,622,474

Uni-Charm Corp.

2,700

146,970

Yamaha Motor Co. Ltd.

6,900

194,166

TOTAL JAPAN

26,053,439

Luxembourg - 0.2%

Acergy SA

23,900

633,350

Netherlands - 0.8%

Arcelor Mittal Class A

15,000

938,620

Koninklijke Ahold NV (a)

36,500

462,092

Nutreco Holding NV

6,483

485,688

SBM Offshore NV

14,200

589,135

TomTom Group BV (a)(f)

4,700

307,092

TOTAL NETHERLANDS

2,782,627

Netherlands Antilles - 0.2%

Schlumberger Ltd. (NY Shares)

7,500

710,400

Norway - 0.5%

Marine Harvest ASA (a)

478,000

604,389

Petroleum Geo-Services ASA

19,700

473,776

Telenor ASA

26,200

481,631

TOTAL NORWAY

1,559,796

Common Stocks - continued

Shares

Value

Philippines - 0.0%

Vista Land & Lifescapes, Inc.

295,000

$ 40,936

Singapore - 1.2%

DBS Group Holdings Ltd.

56,000

853,298

Keppel Corp. Ltd.

114,000

1,015,172

Parkway Holdings Ltd.

156,000

401,319

Rickmers Maritime

690,000

760,092

Singapore Exchange Ltd.

138,000

901,187

TOTAL SINGAPORE

3,931,068

Spain - 0.4%

Banco Santander Central Hispano SA

36,500

695,231

Compania de Distribucion Integral Logista SA

1,800

140,393

Inditex SA

9,100

552,495

TOTAL SPAIN

1,388,119

Sweden - 0.6%

Atlas Copco AB (A Shares)

28,200

497,730

H&M Hennes & Mauritz AB (B Shares)

10,800

627,506

Investor AB (B Shares)

14,700

386,147

SSAB Svenskt Stal AB:

rights 8/23/07 (a)

8,200

24,187

(B Shares)

8,200

285,377

TOTAL SWEDEN

1,820,947

Switzerland - 4.0%

ABB Ltd.:

(Reg.)

39,084

961,242

sponsored ADR

158,600

3,817,502

Actelion Ltd. (Reg.) (a)

11,055

595,305

Credit Suisse Group (Reg.)

9,339

602,739

Julius Baer Holding AG (Bearer)

7,324

518,745

Lindt & Spruengli AG

20

585,185

Nestle SA (Reg.)

3,907

1,508,105

Pargesa Holding SA

2,976

328,190

Phonak Holding AG

5,240

508,518

Roche Holding AG (participation certificate)

11,025

1,964,680

SGS Societe Generale de Surveillance Holding SA (Reg.)

369

448,390

Swiss Life Holding

2,852

710,923

UBS AG (Reg.)

13,870

763,821

TOTAL SWITZERLAND

13,313,345

United Kingdom - 3.9%

3i Group plc

18,275

400,195

Barclays PLC

32,400

453,518

BG Group PLC

58,000

951,995

BP PLC

60,200

696,311

Burberry Group PLC

41,600

540,840

Clipper Windpower PLC (a)

8,900

129,087

Shares

Value

GlaxoSmithKline PLC

27,400

$ 699,794

Gyrus Group PLC (a)

56,300

493,783

HSBC Holdings PLC sponsored ADR

7,300

680,068

Man Group plc

44,500

513,457

Next PLC

11,200

432,054

Reckitt Benckiser PLC

16,800

905,062

Royal Dutch Shell PLC Class A (United Kingdom)

68,900

2,702,694

Scottish & Southern Energy PLC

22,200

653,457

Tesco PLC

34,900

291,997

Vodafone Group PLC

178,300

541,139

Vodafone Group PLC sponsored ADR

33,400

1,013,690

Xstrata PLC

14,700

954,973

TOTAL UNITED KINGDOM

13,054,114

United States of America - 23.7%

Adobe Systems, Inc. (a)

9,700

390,813

AES Corp. (a)

39,800

782,070

Agilent Technologies, Inc. (a)

22,700

866,005

Allergan, Inc.

9,600

558,048

Amazon.com, Inc. (a)

6,000

471,240

American International Group, Inc.

18,787

1,205,750

American Superconductor Corp. (a)(f)

21,900

418,071

American Tower Corp. Class A (a)

33,200

1,383,112

Amphenol Corp. Class A

14,000

479,640

Amylin Pharmaceuticals, Inc. (a)

17,900

832,529

Apple, Inc. (a)

13,200

1,739,232

Applied Materials, Inc.

22,800

502,512

AT&T, Inc.

95,500

3,739,780

Avon Products, Inc.

58,600

2,110,186

Bank New York Mellon Corp.

9,900

421,245

Bear Stearns Companies, Inc.

3,600

436,392

BladeLogic, Inc.

300

7,725

C.R. Bard, Inc.

14,300

1,122,121

Casual Male Retail Group, Inc. (a)

83,400

852,348

Celgene Corp. (a)

10,000

605,600

Centex Corp.

4,300

160,433

Cerner Corp. (a)

22,840

1,207,551

Cisco Systems, Inc. (a)

64,150

1,854,577

Citigroup, Inc.

26,400

1,229,448

Coach, Inc. (a)

18,200

827,372

Cognizant Technology Solutions Corp. Class A (a)

26,900

2,178,362

Collagenex Pharmaceuticals, Inc. (a)

16,500

192,390

Commerce Bancorp, Inc.

12,300

411,435

Constellation Energy Group, Inc.

8,500

712,300

Countrywide Financial Corp.

9,628

271,221

Crocs, Inc. (a)

5,100

302,532

CyberSource Corp. (a)

45,100

519,101

Exelixis, Inc. (a)

16,900

163,761

Exxon Mobil Corp.

36,400

3,098,732

Fuel Tech, Inc. (a)(f)

53,175

1,487,305

Common Stocks - continued

Shares

Value

United States of America - continued

General Dynamics Corp.

23,300

$ 1,830,448

General Growth Properties, Inc.

7,440

356,971

General Motors Corp.

8,800

285,120

Gilead Sciences, Inc. (a)

15,100

562,173

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

4,100

2,091,000

Green Mountain Coffee Roasters, Inc. (a)

10,200

302,430

Greenhill & Co., Inc.

7,500

435,000

Hudson City Bancorp, Inc.

175,700

2,147,054

Inverness Medical Innovations, Inc. (a)

48,400

2,343,044

Itron, Inc. (a)

3,500

278,005

Janus Capital Group, Inc.

65,400

1,965,924

JCPenney Co., Inc.

16,650

1,132,866

KB Home

4,800

152,688

Lennar Corp. Class A

8,000

245,280

Macy's, Inc.

25,450

917,982

Mastercard, Inc. Class A

12,500

2,010,000

Merck & Co., Inc.

33,300

1,653,345

Molson Coors Brewing Co. Class B

9,300

827,142

Monsanto Co.

24,150

1,556,468

Morgan Stanley

14,400

919,728

National Oilwell Varco, Inc. (a)

11,500

1,381,265

Nordstrom, Inc.

12,300

585,234

Northern Trust Corp.

16,900

1,055,574

PepsiCo, Inc.

16,390

1,075,512

Petrohawk Energy Corp. (a)

26,400

395,736

PPL Corp.

13,400

631,676

Procter & Gamble Co.

29,700

1,837,242

Pulte Homes, Inc.

8,300

160,522

Quanta Services, Inc. (a)

20,800

591,344

Quicksilver Resources, Inc. (a)

6,350

267,462

Ralcorp Holdings, Inc. (a)

20,300

1,054,788

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

112

2,256

Ryland Group, Inc.

3,900

129,675

Service Corp. International

75,100

910,212

St. Jude Medical, Inc. (a)

11,700

504,738

State Street Corp.

10,800

723,924

Stewart Enterprises, Inc. Class A

149,300

1,046,593

Sun Microsystems, Inc. (a)

507,200

2,586,720

Time Warner, Inc.

80,900

1,558,134

Titanium Metals Corp. (a)

46,300

1,547,346

Tyson Foods, Inc. Class A

37,500

798,750

UDR, Inc.

9,800

226,282

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

8,600

528,126

Unisys Corp. (a)

99,200

802,528

Valero Energy Corp.

21,700

1,454,117

Virgin Media, Inc.

14,165

351,859

Shares

Value

Washington Group International, Inc. (a)

6,100

$ 489,952

Zoltek Companies, Inc. (a)

5,100

239,190

TOTAL UNITED STATES OF AMERICA

78,490,364

TOTAL COMMON STOCKS

(Cost $175,146,149)

197,062,163

Nonconvertible Preferred Stocks - 0.2%

Germany - 0.1%

Porsche AG

100

183,132

Italy - 0.1%

Istituto Finanziario Industriale SpA (IFI) (a)

11,100

423,612

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $377,705)

606,744

Corporate Bonds - 9.8%

Principal
Amount (d)

Convertible Bonds - 0.1%

United Kingdom - 0.1%

Shire PLC 2.75% 5/9/14

$ 300,000

304,350

Nonconvertible Bonds - 9.7%

Australia - 0.0%

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

130,000

121,384

Bermuda - 0.2%

Northern Offshore Ltd. 9.86% 6/14/10 (g)(j)

100,000

101,500

Sea Production Ltd. 9.61% 2/14/12 (g)(j)

100,000

100,000

SeaDrill Ltd.:

5.64% 1/23/08 (g)(j)

NOK

1,500,000

256,699

6.14% 1/23/09 (g)(j)

NOK

1,500,000

256,700

TOTAL BERMUDA

714,899

British Virgin Islands - 0.0%

CEMEX SAB de CV 6.196% (j)

100,000

98,945

Cayman Islands - 0.3%

BBVA Bancomer SA (Cayman Islands) (Reg. S) 4.799% 5/17/17 (j)

EUR

275,000

369,372

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

160,000

165,987

MUFG Capital Finance 5 Ltd. 6.299% (j)

GBP

100,000

192,611

PetroProd Ltd. 11.36% 1/12/12 (g)(j)

100,000

100,500

Corporate Bonds - continued

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Cayman Islands - continued

SMFG Finance Ltd. 6.164% (j)

GBP

75,000

$ 141,332

Vale Overseas Ltd. 6.875% 11/21/36

200,000

194,550

TOTAL CAYMAN ISLANDS

1,164,352

Cyprus - 0.1%

Colgrade Ltd. 8.25% 6/28/10

180,000

178,110

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

EUR

100,000

134,564

TOTAL CYPRUS

312,674

France - 1.8%

Caisse d'Amort de la Dette Societe 4.125% 4/25/17

EUR

1,700,000

2,243,615

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

EUR

125,000

159,755

Compagnie de St. Gobain 4.447% 4/11/12 (j)

EUR

175,000

239,124

Credit Agricole SA:

4.184% 9/30/08 (j)

EUR

1,500,000

2,051,909

4.255% 1/19/10 (j)

EUR

800,000

1,094,056

France Telecom SA 4.375% 2/21/12

EUR

100,000

133,893

TOTAL FRANCE

5,922,352

Germany - 0.4%

Bayer AG:

4.296% 4/10/10 (j)

EUR

200,000

272,986

5.625% 5/23/18

GBP

150,000

288,112

BayernLB Capital Trust I 6.2032% 3/29/49 (j)

250,000

234,890

Muenchener Rueckversicherungs-Gesellschaft AG 5.767% (j)

EUR

250,000

333,761

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

EUR

100,000

128,721

TOTAL GERMANY

1,258,470

Hong Kong - 0.2%

Chong Hing Bank Ltd. 6.29% 12/16/16 (j)

175,000

177,228

Dah Sing Bank Ltd. 6.11% 6/3/16 (j)

250,000

252,650

Wing Hang Bank Ltd. 6% (j)

260,000

251,656

TOTAL HONG KONG

681,534

India - 0.1%

Export-Import Bank of India 1.1944% 6/7/12 (j)

JPY

40,000,000

336,471

ICICI Bank Ltd. (Reg. S) 5.9% 1/12/10 (j)

125,000

125,125

TOTAL INDIA

461,596

Principal
Amount (d)

Value

Ireland - 0.4%

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

EUR

90,000

$ 119,026

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

RUB

7,000,000

278,209

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

RUB

3,800,000

151,437

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

400,000

385,400

VTB24 Capital PLC 6.18% 12/7/09 (j)

270,000

268,920

TOTAL IRELAND

1,202,992

Italy - 0.2%

Banca Italease SpA 4.213% 2/2/10 (j)

EUR

400,000

536,526

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

EUR

150,000

200,634

TOTAL ITALY

737,160

Kazakhstan - 0.2%

Alliance Bank JSC 9% 6/27/08

360,000

358,380

ATF Bank JSC 8.875% 11/9/09

200,000

207,900

TOTAL KAZAKHSTAN

566,280

Korea (South) - 0.2%

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

300,000

280,673

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

200,000

197,600

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

300,000

283,176

TOTAL KOREA (SOUTH)

761,449

Luxembourg - 0.7%

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

EUR

100,000

136,972

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

GBP

100,000

197,702

Glencore Finance (Europe) SA:

6.5% 2/27/19

GBP

100,000

194,273

8%

450,000

439,470

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

500,000

493,540

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

EUR

200,000

275,454

RBD Capital SA 6.5% 8/11/08

400,000

400,640

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

250,000

264,115

TOTAL LUXEMBOURG

2,402,166

Malaysia - 0.1%

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

300,000

289,050

Corporate Bonds - continued

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

Multi-National - 0.1%

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

EUR

200,000

$ 258,574

Netherlands - 0.9%

ALB Finance BV 8.75% 4/20/11

100,000

95,850

ASML Holding NV 5.75% 6/13/17

EUR

250,000

325,599

Asset Repackaging Trust Five BV 11.715% 12/21/11 pay-in-kind (j)

EUR

100,000

140,940

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

EUR

260,000

359,329

CRR BV 9% 9/21/07

200,000

200,000

Deutsche Telekom International Finance BV 4.5% 10/25/13

EUR

115,000

152,482

Eureko BV 5.125% (j)

EUR

200,000

259,740

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

300,000

286,650

Media Nusantara Citra BV 10.75% 9/12/11

148,958

159,907

SABIC Europe BV 4.5% 11/28/13

EUR

200,000

259,165

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

GBP

150,000

286,336

TuranAlem Finance BV 6.25% 9/27/11

EUR

250,000

319,852

TOTAL NETHERLANDS

2,845,850

Norway - 1.0%

Africa Offshore Services AS 11.36% 6/29/12 (j)

100,000

97,000

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

100,000

100,040

DDI Holding AS:

9.3% 1/19/12 (i)

100,000

103,566

10.08% 3/15/12 (g)(j)

100,000

103,000

DP Producer AS 11.36% 12/5/11 (g)(j)

100,000

98,000

Kommunalbanken AS 5.125% 5/30/12

1,900,000

1,896,200

MPF Corp. (Norway) AS 12.11% 9/20/11 (g)(j)

100,000

97,000

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

100,000

103,750

ProdJack AS:

11.25% 2/22/13 (g)

100,000

99,500

11.25% 3/8/13 (g)

100,000

99,500

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

100,000

102,750

Sinvest ASA 10.95% 12/22/09 (g)(j)

NOK

1,500,000

268,023

TOTAL NORWAY

3,168,329

Principal
Amount (d)

Value

Russia - 0.1%

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

$ 250,000

$ 251,625

Tyumen Oil Co. 11% 11/6/07

175,000

177,060

TOTAL RUSSIA

428,685

Spain - 0.1%

Santander Finance Preferred SA Unipersonal 7.005% (j)

GBP

100,000

201,007

Telefonica Emisiones SAU 5.888% 1/31/14

GBP

100,000

195,163

TOTAL SPAIN

396,170

United Arab Emirates - 0.1%

Abu Dhabi National Energy Co. Pjsc 6.5% 10/27/36

200,000

196,550

United Kingdom - 0.4%

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

GBP

125,000

235,769

British Telecommunications plc 5.25% 6/23/14

EUR

200,000

274,174

Getin Finance PLC 6.036% 5/13/09 (j)

EUR

100,000

136,383

ICICI Bank UK PLC 5.98% 2/27/12 (j)

125,000

124,894

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

GBP

50,000

101,377

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

EUR

150,000

197,720

Vodafone Group PLC 5.64% 2/27/12 (j)

160,000

159,800

TOTAL UNITED KINGDOM

1,230,117

United States of America - 2.1%

BA Covered Bond 4.125% 4/5/12

EUR

1,700,000

2,264,551

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

EUR

200,000

284,398

BSP Finance BV 10.75% 11/1/11

100,000

100,000

DaimlerChrysler NA Holding Corp. 4.375% 3/16/10

EUR

250,000

339,351

Embarq Corp. 7.082% 6/1/16

200,000

199,817

HSBC Finance Corp. 4.875% 5/30/17

EUR

350,000

468,865

Morgan Stanley 4.521% 7/20/12 (j)

EUR

430,000

576,564

Pemex Project Funding Master Trust (Reg. S) 5.5% 2/24/25

EUR

500,000

671,860

Residential Capital Corp. 6.375% 5/17/13

GBP

250,000

452,357

SLM Corp.:

4.295% 6/15/09 (j)

EUR

100,000

132,196

4.345% 12/15/10 (j)

EUR

200,000

258,561

Corporate Bonds - continued

Principal
Amount (d)

Value

Nonconvertible Bonds - continued

United States of America - continued

UniCredito Italiano Capital Trust I 4.028% (j)

EUR

420,000

$ 507,696

WaMu Covered Bond Program 4.375% 5/19/14

EUR

550,000

731,520

TOTAL UNITED STATES OF AMERICA

6,987,736

TOTAL NONCONVERTIBLE BONDS

32,207,314

TOTAL CORPORATE BONDS

(Cost $32,212,487)

32,511,664

Government Obligations - 19.4%

Belgium - 0.2%

Belgian Kingdom 4% 3/28/17

EUR

637,500

839,035

Canada - 0.7%

Canadian Government 5.25% 6/1/12

CAD

2,250,000

2,171,534

Finland - 1.2%

Finnish Government 3.875% 9/15/17

EUR

3,150,000

4,112,891

France - 0.6%

French Republic 5.5% 4/25/29

EUR

1,250,000

1,930,879

Germany - 5.5%

German Federal Republic:

3.75% 12/12/08

EUR

12,100,000

16,416,294

4% 4/13/12

EUR

700,000

944,914

4% 7/4/16

EUR

637,500

851,387

TOTAL GERMANY

18,212,595

Italy - 0.6%

Italian Republic 6% 5/1/31

EUR

1,210,000

1,918,083

Japan - 7.9%

Japan Government:

0.6752% 10/29/07

JPY

100,000,000

842,847

0.9% 11/20/20 (j)

JPY

125,000,000

1,009,897

1.3% 12/20/11

JPY

210,000,000

1,771,293

1.3% 3/20/15

JPY

900,000,000

7,417,887

1.5% 3/20/14

JPY

300,000,000

2,527,278

1.8% 3/20/16

JPY

660,000,000

5,613,942

2.5% 9/20/36

JPY

250,000,000

2,138,016

Real Return Bond 1.1% 12/10/16

JPY

572,572,000

4,738,622

TOTAL JAPAN

26,059,782

Principal
Amount (d)

Value

United Kingdom - 0.9%

United Kingdom, Great Britain & Northern Ireland:

4.25% 6/7/32

GBP

900,000

$ 1,715,548

5% 3/7/18

GBP

700,000

1,402,698

5% 3/7/25

GBP

20,000

40,956

TOTAL UNITED KINGDOM

3,159,202

United States of America - 1.8%

U.S. Treasury Inflation-Indexed Notes 2% 7/15/14

2,205,960

2,142,443

U.S. Treasury Notes:

3.375% 12/15/08

765,000

751,792

4.375% 8/15/12

185,000

183,294

4.625% 2/29/12

130,000

130,142

4.75% 5/31/12

120,000

120,731

5% 8/15/11

2,500,000

2,541,015

TOTAL UNITED STATES OF AMERICA

5,869,417

TOTAL GOVERNMENT OBLIGATIONS

(Cost $64,030,908)

64,273,418

U.S. Government Agency - Mortgage Securities - 0.7%

Fannie Mae - 0.7%

6% 8/1/37 (h)
(Cost $2,213,438)

2,250,000

2,231,465

Asset-Backed Securities - 0.7%

Bosphorus Financial Services Ltd. (Reg. S) 7.16% 2/15/12 (j)

250,000

251,250

Clock Finance BV Series 2007-1 Class B2, 4.256% 2/25/15 (j)

EUR

100,000

136,343

Holmes Master Issuer PLC Series 2006-1A Class 1C, 5.6% 7/15/40 (g)(j)

200,000

200,000

Mermaid Secured Finance Ltd. Series 2007-1:

Class C, 4.545% 1/30/40 (j)

EUR

50,000

68,418

Class D, 4.745% 1/30/40 (j)

EUR

100,000

136,835

Preferred Term Securities XII Ltd. 6.98% 12/24/33 (g)(j)

400,000

403,440

Preferred Term Securities XXIII Ltd. 5.56% 12/22/36 (g)(j)

396,570

395,777

Prime Bricks Series 2007-1:

Class B, 4.545% 1/30/40 (j)

EUR

50,000

68,418

Class C, 4.745% 1/30/40 (j)

EUR

50,000

68,418

Asset-Backed Securities - continued

Principal
Amount (d)

Value

Promise K 2006-1 GmbH Series I 2006-1 Class D, 4.805% 3/20/17 (j)

EUR

100,000

$ 136,356

Provide Bricks Series 2007-1
Class B, 4.605% 1/30/40 (j)

EUR

200,000

273,670

Whinstone Capital Management Ltd. Series 2005-1X Class B1, 6.945% 10/25/45 (j)

GBP

155,670

317,493

TOTAL ASSET-BACKED SECURITIES

(Cost $2,424,698)

2,456,418

Collateralized Mortgage Obligations - 0.2%

Private Sponsor - 0.2%

Arkle Master Issuer PLC floater Series 2007-1X Class 1C, 5.611% 2/17/52 (j)

200,000

200,000

Permanent Master Issuer PLC floater Series 2006-1 Class 2C, 5.76% 7/17/42 (j)

400,000

399,828

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS

(Cost $600,000)

599,828

Commercial Mortgage Securities - 0.4%

Ireland - 0.2%

European Property Capital Series 4 Class C, 5.9494% 7/20/14 (j)

GBP

41,701

84,743

German Residential Asset Note Distributor PLC Series 1 Class A, 4.461% 7/20/16 (j)

EUR

186,320

253,421

Rivoli Pan Europe PLC Series 2006-1 Class B 4.297% 8/3/18 (j)

EUR

100,000

136,342

TOTAL IRELAND

474,506

Japan - 0.1%

JLOC 37 LLC (Reg. S) Series X
Class B1, 1.1507% 1/15/15 (j)

JPY

20,000,000

168,843

Netherlands - 0.0%

Skyline BV Series 2007-1 Class D, 5.013% 7/22/43 (j)

EUR

100,000

136,493

United Kingdom - 0.1%

Broadgate PLC 6.8013% 10/5/25 (j)

GBP

46,250

92,956

Canary Wharf Finance II plc Series 3MUK Class C2, 6.2244% 10/22/37 (j)

GBP

150,000

295,934

TOTAL UNITED KINGDOM

388,890

TOTAL COMMERCIAL MORTGAGE SECURITIES

(Cost $1,121,955)

1,168,732

Preferred Securities - 0.0%

Principal
Amount (d)

Value

Cayman Island - 0.0%

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

$ 175,000

$ 167,903

Supranational Obligations - 0.7%

European Investment Bank 4.75% 10/15/17
(Cost $2,285,503)

EUR

1,700,000

2,353,318

Money Market Funds - 5.1%

Shares

Fidelity Cash Central Fund, 5.38% (b)

14,009,517

14,009,517

Fidelity Securities Lending Cash Central Fund, 5.39% (b)(c)

2,849,730

2,849,730

TOTAL MONEY MARKET FUNDS

(Cost $16,859,247)

16,859,247

TOTAL INVESTMENT PORTFOLIO - 96.8%

(Cost $297,447,090)

320,290,900

NET OTHER ASSETS - 3.2%

10,427,289

NET ASSETS - 100%

$ 330,718,189

Currency Abbreviations

CAD

-

Canadian dollar

EUR

-

European Monetary Unit

GBP

-

British pound

JPY

-

Japanese yen

NOK

-

Norwegian krone

RUB

-

Russian ruble

Legend

(a) Non-income producing

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

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

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

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

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

(g) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $2,907,523 or 0.9% of net assets.

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

(i) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $103,566 or 0.0% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost

DDI Holding AS 9.3% 1/19/12

3/22/07

$ 103,375

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

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

$ 476,551

Fidelity Securities Lending Cash Central Fund

38,282

Total

$ 514,833

Income Tax Information

At July 31, 2007, the aggregate cost of investment securities for income tax purposes was $297,681,392. Net unrealized appreciation aggregated $22,609,508, of which $29,608,411 related to appreciated investment securities and $6,998,903 related to depreciated investment securities.

Investment Valuation

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

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

Quarterly Report

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

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

Quarterly Report

Item 2. Controls and Procedures

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

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

Item 3. Exhibits

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

SIGNATURES

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

Fidelity Charles Street Trust

By:

/s/Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

September 28, 2007

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

By:

/s/ Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

Date:

September 28, 2007

By:

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

Date:

September 28, 2007