<PAGE> PAGE 1
000 B000000 10/31/99
000 C000000 0000311884
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY BEACON STREET TRUST
001 B000000 811-4508
001 C000000 6175631413
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 TAX MANAGED STOCK FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 FIDELITY BROKERAGE SERVICES, INC.
020 B000001 04-2785576
020 C000001 5
020 A000002 BEAR STERNS & CO.
020 B000002 13-3299429
020 C000002 5
020 A000003 ITG, INC.
020 B000003 95-4339369
020 C000003 5
020 A000004 CREDIT SUISSE FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004 1
020 A000005 DEUTSCHE BANK SECURITIES, INC.
020 B000005 13-2730828
020 C000005 1
020 A000006 LEHMAN BROTHERS, INC.
020 B000006 13-2518466
<PAGE> PAGE 2
020 C000006 1
020 A000007 SALOMON SMITH BARNEY, INC.
020 B000007 13-1912900
020 C000007 1
020 A000008 ABEL/NOSER CORP.
020 B000008 13-2833083
020 C000008 1
020 A000009 DONALDSON LUFKIN AND JENRETTE SECURITIES CORP
020 B000009 13-2741729
020 C000009 1
020 A000010 GOLDMAN SACHS AND CO.
020 B000010 13-5108880
020 C000010 1
021 000000 25
022 A000001 FIDELITY TAXABLE CENTRAL CASH FUND
022 B000001 04-3331103
022 C000001 27147
022 D000001 26833
022 A000002 TROSTER SINGER STEVENS CORP.
022 B000002 00-0000000
022 C000002 4850
022 D000002 225
022 A000003 KNIGHT SECURITIES, LP
022 B000003 00-0000000
022 C000003 2869
022 D000003 308
022 A000004 INSTINET
022 B000004 13-3443395
022 C000004 843
022 D000004 29
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005 693
022 D000005 111
022 A000006 ITG, INC.
022 B000006 95-4339369
022 C000006 464
022 D000006 277
022 A000007 FIDELITY GROWTH COMPANY FUND
022 B000007 04-2778701
022 C000007 722
022 D000007 0
022 A000008 MORGAN STANLEY & CO., INC.
022 B000008 13-2655998
022 C000008 596
022 D000008 68
022 A000009 FIDELITY PURITAN FUND
022 B000009 04-6026952
022 C000009 631
022 D000009 0
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH
<PAGE> PAGE 3
022 B000010 13-5674085
022 C000010 325
022 D000010 131
023 C000000 63373
023 D000000 28437
026 A000000 Y
026 B000000 Y
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026 F000000 Y
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026 G020000 Y
026 H000000 Y
027 000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000301 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B000301 A
008 C000301 801-7884
008 D010301 BOSTON
008 D020301 MA
008 D030301 02109
008 A000302 FIDELITY MANAGEMENT & RESEARCH (U.K.), INC.
<PAGE> PAGE 4
008 B000302 S
008 C000302 801-28773
008 D010302 LONDON
008 D050302 ENGLAND
008 A000303 FIDELITY MANAGEMENT & RESEARCH (FAR EAST) INC
008 B000303 S
008 C000303 801-28774
008 D010303 TOKYO
008 D050303 JAPAN
010 A000301 DELETE
011 A000301 FIDELITY DISTRIBUTORS CORPORATION
011 B000301 8-8775
011 C010301 BOSTON
011 C020301 MA
011 C030301 02109
012 A000301 FIDELITY SERVICE COMPANY, INC.
012 B000301 84-00216
012 C010301 BOSTON
012 C020301 MA
012 C030301 02109
013 A000301 PRICEWATERHOUSECOOPERS LLP
013 B010301 BOSTON
013 B020301 MA
013 B030301 02109
014 A000301 NATIONAL FINANCIAL SERVICES CORPORATION
014 B000301 8-26740
014 A000302 FIDELITY BROKERAGE SERVICES, INC.
014 B000302 8-23292
014 A000303 FIDELITY DISTRIBUTORS CORPORATION
014 B000303 8-8775
014 A000304 FIDELITY BROKERAGE SERVICES
014 B000304 8-00000
014 A000305 FIDELITY INVESTMENTS CANADA LIMITED
014 B000305 8-00000
014 A000306 FIDELITY SECURITIES LIMITED
014 B000306 8-00000
014 A000307 FMR U.K. HOLDINGS LIMITED
014 B000307 8-00000
015 A000301 STATE STREET BANK AND TRUST COMPANY
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02109
015 E010301 X
018 000300 Y
019 A000300 Y
019 B000300 236
019 C000300 FIDELITYZZ
024 000300 Y
025 A000301 FIDELITY TAXABLE CENTRAL CASH FUND
025 B000301 04-3331103
<PAGE> PAGE 5
025 C000301 D
025 D000301 314
025 A000302 MORGAN STANLEY & CO., INC.
025 B000302 13-2655998
025 C000302 E
025 D000302 430
025 A000303 LEHMAN BROTHERS HOLDING, INC.
025 B000303 13-2518466
025 C000303 E
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028 A010300 4013
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028 F040300 586
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<PAGE> PAGE 6
037 000300 Y
038 000300 32
039 000300 N
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050 000300 N
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<PAGE> PAGE 7
054 D000300 N
054 E000300 N
054 F000300 N
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054 H000300 Y
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054 J000300 Y
054 K000300 N
054 L000300 N
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056 000300 Y
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062 E000300 0.0
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062 L000300 0.0
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062 N000300 0.0
062 O000300 0.0
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066 D000300 Y
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066 F000300 N
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067 000300 N
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069 000300 N
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<PAGE> PAGE 8
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
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070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 Y
070 Q010300 N
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 76335
071 B000300 14200
071 C000300 44112
071 D000300 32
072 A000300 12
072 B000300 32
072 C000300 533
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072 F000300 264
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072 J000300 7
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<PAGE> PAGE 9
072 M000300 0
072 N000300 82
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072CC010300 8011
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073 B000300 0.0000
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074 F000300 67905
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074 N000300 68735
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074 S000300 0
074 T000300 68621
074 U010300 5624
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074 V010300 12.20
<PAGE> PAGE 10
074 V020300 0.00
074 W000300 0.0000
074 X000300 2188
074 Y000300 0
075 A000300 0
075 B000300 45776
076 000300 0.00
080 A000300 AMERICAN INT'L SPECIALTY LINES INSURANCE CO.
080 B000300 FEDERAL INSURANCE COMPANY
080 C000300 220000
081 A000300 Y
081 B000300 235
082 A000300 Y
082 B000300 400
083 A000300 N
083 B000300 0
084 A000300 N
084 B000300 0
085 A000300 Y
085 B000300 N
SIGNATURE JOHN H COSTELLO
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000311884
<NAME> Fidelity Beacon Street Trust
<SERIES>
<NUMBER> 31
<NAME> Fidelity Tax Managed Stock Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
year
<FISCAL-YEAR-END>
oct-31-1999
<PERIOD-END>
oct-31-1999
<INVESTMENTS-AT-COST>
60,208
<INVESTMENTS-AT-VALUE>
68,220
<RECEIVABLES>
515
<ASSETS-OTHER>
0
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
68,735
<PAYABLE-FOR-SECURITIES>
0
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
114
<TOTAL-LIABILITIES>
114
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
62,787
<SHARES-COMMON-STOCK>
5,624
<SHARES-COMMON-PRIOR>
0
<ACCUMULATED-NII-CURRENT>
63
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
(2,240)
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
8,011
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68,621
<DIVIDEND-INCOME>
533
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32
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502
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63
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8,011
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<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
0
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0
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264
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0
<GROSS-EXPENSE>
506
<AVERAGE-NET-ASSETS>
45,776
<PER-SHARE-NAV-BEGIN>
10.000
<PER-SHARE-NII>
.020
<PER-SHARE-GAIN-APPREC>
2.170
<PER-SHARE-DIVIDEND>
0
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111
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
TO ACCOMPANY FORM N-SAR
____
To the Trustees of Fidelity Beacon Street Trust:
In planning and performing our audit of the financial
statements and financial highlights (hereafter referred to as
"financial statements") of Fidelity Beacon Street Trust: Fidelity
Tax Managed Stock Fund for the year ended October 31, 1999 we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on internal control.
The management of the Trust is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control,
misstatements due to errors or fraud may occur and not be
detected. Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of any specific
internal control component does not reduce to a relatively low
level the risk that misstatements due to errors or fraud in
amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a
timely period by employees in the normal course of performing
their assigned functions. However, we noted no matters involving
internal control and its operation, including controls over
safeguarding securities, that we consider to be material
weaknesses as defined above as of October 31, 1999.
This report is intended solely for the information and use of
management and the Trustees of the Trust and the Securities and
Exchange Commission.
PricewaterhouseCoopers LLP
Boston, Massachusetts
December 7, 1999
