# EDGAR Filing Document

**Accession Number:** 0000320351
**File Stem:** 0000320351-26-000076
**Filing Date:** 2026-4
**Character Count:** 25993
**Document Hash:** f1d1ab7b9b705c15d6b451704091de96
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000320351-26-000076.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0000320351-26-000076

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**EFFECTIVENESS DATE**: 20260401

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY SELECT PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000320351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-69972
- **FILM NUMBER:** 26825349

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Consumer Staples Portfolio (Series ID: S000007463)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Fidelity Advisor Consumer Staples Fund: Class A | FDAGX         | C000040616 |
| Fidelity Advisor Consumer Staples Fund: Class C | FDCGX         | C000040618 |
| Fidelity Advisor Consumer Staples Fund: Class M | FDTGX         | C000040619 |
| Fidelity Advisor Consumer Staples Fund: Class I | FDIGX         | C000040620 |
| Fidelity Advisor Consumer Staples Fund: Class Z | FIJCX         | C000205042 |

---

### Gold Portfolio (Series ID: S000007465)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Fidelity Advisor Gold Fund: Class I | FGDIX         | C000040621 |
| Fidelity Advisor Gold Fund: Class A | FGDAX         | C000040622 |
| Fidelity Advisor Gold Fund: Class C | FGDCX         | C000040624 |
| Fidelity Advisor Gold Fund: Class M | FGDTX         | C000040625 |
| Fidelity Advisor Gold Fund: Class Z | FIJDX         | C000205043 |

---

### Materials Portfolio (Series ID: S000007469)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Fidelity Advisor Materials Fund: Class A | FMFAX         | C000040626 |
| Fidelity Advisor Materials Fund: Class C | FMFCX         | C000040628 |
| Fidelity Advisor Materials Fund: Class M | FMFTX         | C000040629 |
| Fidelity Advisor Materials Fund: Class I | FMFEX         | C000040630 |
| Fidelity Advisor Materials Fund: Class Z | FIJFX         | C000205044 |

---

### Communication Services Portfolio (Series ID: S000007476)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                            | Ticker Symbol | Class ID   |
| Fidelity Advisor Communication Services Fund: Class I | FGJMX         | C000206306 |
| Fidelity Advisor Communication Services Fund: Class Z | FGKMX         | C000206307 |
| Fidelity Advisor Communication Services Fund: Class A | FGDMX         | C000206308 |
| Fidelity Advisor Communication Services Fund: Class M | FGEMX         | C000206309 |
| Fidelity Advisor Communication Services Fund: Class C | FGHMX         | C000206310 |

---

### Telecommunications Portfolio (Series ID: S000007485)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Fidelity Advisor Telecommunications Fund: Class A | FTUAX         | C000040631 |
| Fidelity Advisor Telecommunications Fund: Class C | FTUCX         | C000040633 |
| Fidelity Advisor Telecommunications Fund: Class M | FTUTX         | C000040634 |
| Fidelity Advisor Telecommunications Fund: Class I | FTUIX         | C000040635 |
| Fidelity Advisor Telecommunications Fund: Class Z | FIJGX         | C000205045 |

---

## Series and Classes Contracts Data

### Consumer Staples Portfolio (Series ID: S000007463)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000040616 | Fidelity Advisor Consumer Staples Fund: Class A | FDAGX           |
| C000040618 | Fidelity Advisor Consumer Staples Fund: Class C | FDCGX           |
| C000040619 | Fidelity Advisor Consumer Staples Fund: Class M | FDTGX           |
| C000040620 | Fidelity Advisor Consumer Staples Fund: Class I | FDIGX           |
| C000205042 | Fidelity Advisor Consumer Staples Fund: Class Z | FIJCX           |

### Gold Portfolio (Series ID: S000007465)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000040621 | Fidelity Advisor Gold Fund: Class I | FGDIX           |
| C000040622 | Fidelity Advisor Gold Fund: Class A | FGDAX           |
| C000040624 | Fidelity Advisor Gold Fund: Class C | FGDCX           |
| C000040625 | Fidelity Advisor Gold Fund: Class M | FGDTX           |
| C000205043 | Fidelity Advisor Gold Fund: Class Z | FIJDX           |

### Materials Portfolio (Series ID: S000007469)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000040626 | Fidelity Advisor Materials Fund: Class A | FMFAX           |
| C000040628 | Fidelity Advisor Materials Fund: Class C | FMFCX           |
| C000040629 | Fidelity Advisor Materials Fund: Class M | FMFTX           |
| C000040630 | Fidelity Advisor Materials Fund: Class I | FMFEX           |
| C000205044 | Fidelity Advisor Materials Fund: Class Z | FIJFX           |

### Communication Services Portfolio (Series ID: S000007476)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000206306 | Fidelity Advisor Communication Services Fund: Class I | FGJMX           |
| C000206307 | Fidelity Advisor Communication Services Fund: Class Z | FGKMX           |
| C000206308 | Fidelity Advisor Communication Services Fund: Class A | FGDMX           |
| C000206309 | Fidelity Advisor Communication Services Fund: Class M | FGEMX           |
| C000206310 | Fidelity Advisor Communication Services Fund: Class C | FGHMX           |

### Telecommunications Portfolio (Series ID: S000007485)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000040631 | Fidelity Advisor Telecommunications Fund: Class A | FTUAX           |
| C000040633 | Fidelity Advisor Telecommunications Fund: Class C | FTUCX           |
| C000040634 | Fidelity Advisor Telecommunications Fund: Class M | FTUTX           |
| C000040635 | Fidelity Advisor Telecommunications Fund: Class I | FTUIX           |
| C000205045 | Fidelity Advisor Telecommunications Fund: Class Z | FIJGX           |

**Supplement to the Fidelity® Select Portfolios® Communication Services Portfolio Class A, Class M, Class C, Class I, and Class Z April 29, 2025 Prospectus**

The following information supplements information found in the "Appendix" section under the "Sales Charge Waiver Policies Applied by Certain Intermediaries" heading.

<u>Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")</u>

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

**Wells Fargo Advisors Class A share front-end sales charge waivers information.**

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

* Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

* Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

**Wells Fargo Advisors Contingent Deferred Sales Charge information.**

* Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

**Wells Fargo Advisors Class A front-end load discounts**

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

* Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan. 

* Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

* Gift of shares will not be considered when determining breakpoint discounts.

ABAM-PSTK-0426-105 1.9901306.105 April 1, 2026

**Supplement to the Fidelity® Select Portfolios® Consumer Staples Portfolio Class A, Class M, Class C, Class I, and Class Z April 29, 2025 Prospectus**

The following information supplements information found in the "Appendix" section under the "Sales Charge Waiver Policies Applied by Certain Intermediaries" heading.

<u>Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")</u>

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

**Wells Fargo Advisors Class A share front-end sales charge waivers information.**

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

* Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

* Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

**Wells Fargo Advisors Contingent Deferred Sales Charge information.**

* Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

**Wells Fargo Advisors Class A front-end load discounts**

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

* Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan. 

* Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

* Gift of shares will not be considered when determining breakpoint discounts.

ACSF-PSTK-0426-136 1.847521.136 April 1, 2026

**Supplement to the Fidelity® Select Portfolios® Gold Portfolio Class A, Class M, Class C, Class I, and Class Z April 29, 2025 Prospectus**

The following information supplements information found in the "Appendix" section under the "Sales Charge Waiver Policies Applied by Certain Intermediaries" heading.

<u>Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")</u>

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

**Wells Fargo Advisors Class A share front-end sales charge waivers information.**

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

* Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

* Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

**Wells Fargo Advisors Contingent Deferred Sales Charge information.**

* Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

**Wells Fargo Advisors Class A front-end load discounts**

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

* Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan. 

* Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

* Gift of shares will not be considered when determining breakpoint discounts.

*Ryan Oldham no longer serves as Co-Portfolio Manager of the fund.*

The following information replaces similar information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Boris Shepov (Portfolio Manager) has managed the fund since 2024.

The following information replaces the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Boris Shepov is Portfolio Manager of Gold Portfolio, which he has managed since 2024. He also manages other funds. Since joining Fidelity Investments in 2008, Mr. Shepov has worked as a research analyst and portfolio manager.

AGLD-PSTK-0426-138 1.847523.138 April 1, 2026

**Supplement to the Fidelity® Select Portfolios® Materials Portfolio Class A, Class M, Class C, Class I, and Class Z April 29, 2025 Prospectus**

The following information supplements information found in the "Appendix" section under the "Sales Charge Waiver Policies Applied by Certain Intermediaries" heading.

<u>Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")</u>

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

**Wells Fargo Advisors Class A share front-end sales charge waivers information.**

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

* Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

* Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

**Wells Fargo Advisors Contingent Deferred Sales Charge information.**

* Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

**Wells Fargo Advisors Class A front-end load discounts**

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

* Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan. 

* Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

* Gift of shares will not be considered when determining breakpoint discounts.

AMF-PSTK-0426-135 1.847525.135 April 1, 2026

**Supplement to the Fidelity® Select Portfolios® Telecommunications Portfolio Class A, Class M, Class C, Class I, and Class Z April 29, 2025 Prospectus**

The following information supplements information found in the "Appendix" section under the "Sales Charge Waiver Policies Applied by Certain Intermediaries" heading.

<u>Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC (collectively, "Wells Fargo Advisors")</u>

Wells Fargo Clearing Services, LLC operates a First Clearing business, but these rules are not intended to include First Clearing firms.

Effective April 1, 2026, Clients of Wells Fargo Advisors purchasing fund shares through Wells Fargo Advisors are eligible for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the prospectus or statement of additional information ("SAI"). In all instances, it is the investor's responsibility to inform Wells Fargo Advisors at the time of purchase of any relationship, holdings, or other facts qualifying the investor for discounts or waivers. Wells Fargo Advisors can ask for documentation supporting the qualification.

**Wells Fargo Advisors Class A share front-end sales charge waivers information.**

Wells Fargo Advisors clients purchasing or converting to Class A shares of the fund in a Wells Fargo Advisors brokerage account are entitled to a waiver of the front-end load in the following circumstances:

* Wells Fargo Advisors employee and employee-related accounts according to Wells Fargo Advisor's employee account linking rules. Legacy accounts and positions receiving affiliate discounts prior to the effective date will continue to receive discounts. Going forward employees of affiliate businesses will not be offered NAV.

* Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund.

WellsTrade, the firm's online self-directed brokerage account, generally offers no-load share classes but there could be instances where a Class A share is offered without a front-end sales charge.

**Wells Fargo Advisors Contingent Deferred Sales Charge information.**

* Contingent deferred sales charges (CDSC) imposed on fund redemptions will not be rebated based on future purchases.

**Wells Fargo Advisors Class A front-end load discounts**

Wells Fargo Advisors Clients purchasing Class A shares of the fund through Wells Fargo Advisors brokerage accounts will follow the following aggregation rules for breakpoint discounts:

* Effective April 1, 2026, SEP or SIMPLE IRAs will not be aggregated as a group plan. They will aggregate with the client's personal accounts based on Social Security Number. Previously established SEP and SIMPLE IRAs may still be aggregated as a group plan. 

* Effective April 1, 2026, Employer-sponsored retirement plan (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans) accounts will aggregate with other plan accounts under the same Tax ID and will not be aggregated with other retirement plan accounts under a different Tax ID or personal accounts. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.

* Gift of shares will not be considered when determining breakpoint discounts.

The following information replaces similar information found in the "Fund Summary" section under the "Portfolio Manager(s)" heading.

Nicole Abernethy (Co-Portfolio Manager) has managed the fund since 2020.

Effective February 28, 2026, Ms. Abernethy will no longer serve as Co-Portfolio Manager of the fund and Mr. Boyajian will assume sole portfolio manager responsibilities.

Alex Boyajian (Co-Portfolio Manager) has managed the fund since 2025.

The following information replaces the biographical information found in the "Fund Management" section under the "Portfolio Manager(s)" heading.

Nicole Abernethy is Co-Portfolio Manager of Telecommunications Portfolio, which she has managed since 2020. She also manages other funds. Since joining Fidelity Investments in 2011, Ms. Abernethy has worked as a research analyst and portfolio manager.

Effective February 28, 2026, Ms. Abernethy will no longer serve as Co-Portfolio Manager of Telecommunications Portfolio and Mr. Boyajian will assume sole portfolio manager responsibilities.

Alex Boyajian is Co-Portfolio Manager of Telecommunications Portfolio, which he has managed since 2025. He also manages other funds. Since joining Fidelity Investments in 2018, Mr. Boyajian has worked as a research analyst and portfolio manager.

ATLC-PSTK-0426-137 1.845214.137 April 1, 2026