# EDGAR Filing Document

**Accession Number:** 0000320351
**File Stem:** 0000320351-25-000303
**Filing Date:** 2025-10
**Character Count:** 25779
**Document Hash:** 5e8ea05d27c78c3e9a888184fa3556e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000320351-25-000303.hdr.sgml**: 20251010

**ACCESSION NUMBER**: 0000320351-25-000303

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251010

**DATE AS OF CHANGE**: 20251010

**EFFECTIVENESS DATE**: 20251010

**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:** 251386776

**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 Discretionary Portfolio (Series ID: S000007454)

---

|  |  |  |
|:---|:---|:---|
| Class Name                       | Ticker Symbol | Class ID   |
| Consumer Discretionary Portfolio | FSCPX         | C000020428 |

---

### Industrials Portfolio (Series ID: S000007455)

---

|  |  |  |
|:---|:---|:---|
| Class Name            | Ticker Symbol | Class ID   |
| Industrials Portfolio | FCYIX         | C000020429 |

---

### Defense and Aerospace Portfolio (Series ID: S000007456)

---

|  |  |  |
|:---|:---|:---|
| Class Name                      | Ticker Symbol | Class ID   |
| Defense and Aerospace Portfolio | FSDAX         | C000020430 |

---

### Semiconductors Portfolio (Series ID: S000007458)

---

|  |  |  |
|:---|:---|:---|
| Class Name               | Ticker Symbol | Class ID   |
| Semiconductors Portfolio | FSELX         | C000020432 |

---

### Energy Portfolio (Series ID: S000007459)

---

|  |  |  |
|:---|:---|:---|
| Class Name       | Ticker Symbol | Class ID   |
| Energy Portfolio | FSENX         | C000020433 |

---

### Financials Portfolio (Series ID: S000007462)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Financials Portfolio | FIDSX         | C000020436 |

---

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

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Consumer Staples Portfolio                      | FDFAX         | C000020437 |
| 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 |

---

### Automotive Portfolio (Series ID: S000007464)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Automotive Portfolio | FSAVX         | C000020438 |

---

### Gold Portfolio (Series ID: S000007465)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Gold Portfolio                      | FSAGX         | C000020439 |
| 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 |

---

### Health Care Portfolio (Series ID: S000007466)

---

|  |  |  |
|:---|:---|:---|
| Class Name            | Ticker Symbol | Class ID   |
| Health Care Portfolio | FSPHX         | C000020440 |

---

### Fintech Portfolio (Series ID: S000007467)

---

|  |  |  |
|:---|:---|:---|
| Class Name        | Ticker Symbol | Class ID   |
| Fintech Portfolio | FSVLX         | C000020441 |

---

### Materials Portfolio (Series ID: S000007469)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Materials Portfolio                      | FSDPX         | C000020443 |
| 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 |

---

### Insurance Portfolio (Series ID: S000007470)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Insurance Portfolio | FSPCX         | C000020444 |

---

### Leisure Portfolio (Series ID: S000007471)

---

|  |  |  |
|:---|:---|:---|
| Class Name        | Ticker Symbol | Class ID   |
| Leisure Portfolio | FDLSX         | C000020445 |

---

### Health Care Services Portfolio (Series ID: S000007472)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| Health Care Services Portfolio | FSHCX         | C000020446 |

---

### Medical Technology and Devices Portfolio (Series ID: S000007473)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Medical Technology and Devices Portfolio | FSMEX         | C000020447 |

---

### Banking Portfolio (Series ID: S000007475)

---

|  |  |  |
|:---|:---|:---|
| Class Name        | Ticker Symbol | Class ID   |
| Banking Portfolio | FSRBX         | C000020449 |

---

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

---

|  |  |  |
|:---|:---|:---|
| Class Name                                            | Ticker Symbol | Class ID   |
| Communication Services Portfolio                      | FBMPX         | C000020450 |
| 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 |

---

### Pharmaceuticals Portfolio (Series ID: S000007481)

---

|  |  |  |
|:---|:---|:---|
| Class Name                | Ticker Symbol | Class ID   |
| Pharmaceuticals Portfolio | FPHAX         | C000020455 |

---

### Retailing Portfolio (Series ID: S000007482)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Retailing Portfolio | FSRPX         | C000020456 |

---

### Software and IT Services Portfolio (Series ID: S000007483)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Software and IT Services Portfolio | FSCSX         | C000020457 |

---

### Technology Portfolio (Series ID: S000007484)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Technology Portfolio | FSPTX         | C000020458 |

---

### Telecommunications Portfolio (Series ID: S000007485)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Telecommunications Portfolio                      | FSTCX         | C000020459 |
| 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 |

---

### Biotechnology Portfolio (Series ID: S000007486)

---

|  |  |  |
|:---|:---|:---|
| Class Name              | Ticker Symbol | Class ID   |
| Biotechnology Portfolio | FBIOX         | C000020460 |

---

### Transportation Portfolio (Series ID: S000007487)

---

|  |  |  |
|:---|:---|:---|
| Class Name               | Ticker Symbol | Class ID   |
| Transportation Portfolio | FSRFX         | C000020461 |

---

### Utilities Portfolio (Series ID: S000007488)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Utilities Portfolio | FSUTX         | C000020462 |

---

### Wireless Portfolio (Series ID: S000007489)

---

|  |  |  |
|:---|:---|:---|
| Class Name         | Ticker Symbol | Class ID   |
| Wireless Portfolio | FWRLX         | C000020463 |

---

### Brokerage and Investment Management Portfolio (Series ID: S000007490)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                    | Ticker Symbol | Class ID   |
| Brokerage and Investment Management Portfolio | FSLBX         | C000020464 |

---

### Enterprise Technology Services Portfolio (Series ID: S000007491)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| Enterprise Technology Services Portfolio | FBSOX         | C000020465 |

---

### Chemicals Portfolio (Series ID: S000007492)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Chemicals Portfolio | FSCHX         | C000020466 |

---

### Tech Hardware Portfolio (Series ID: S000007493)

---

|  |  |  |
|:---|:---|:---|
| Class Name              | Ticker Symbol | Class ID   |
| Tech Hardware Portfolio | FDCPX         | C000020467 |

---

### Construction and Housing Portfolio (Series ID: S000007494)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Construction and Housing Portfolio | FSHOX         | C000020468 |

---

### Fidelity Telecom and Utilities Fund (Series ID: S000039312)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Fidelity Telecom and Utilities Fund | FIUIX         | C000121123 |

---

## Series and Classes Contracts Data

### Consumer Discretionary Portfolio (Series ID: S000007454)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000020428 | Consumer Discretionary Portfolio | FSCPX           |

### Industrials Portfolio (Series ID: S000007455)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000020429 | Industrials Portfolio | FCYIX           |

### Defense and Aerospace Portfolio (Series ID: S000007456)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000020430 | Defense and Aerospace Portfolio | FSDAX           |

### Semiconductors Portfolio (Series ID: S000007458)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000020432 | Semiconductors Portfolio | FSELX           |

### Energy Portfolio (Series ID: S000007459)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000020433 | Energy Portfolio | FSENX           |

### Financials Portfolio (Series ID: S000007462)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000020436 | Financials Portfolio | FIDSX           |

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

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000020437 | Consumer Staples Portfolio                      | FDFAX           |
| 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           |

### Automotive Portfolio (Series ID: S000007464)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000020438 | Automotive Portfolio | FSAVX           |

### Gold Portfolio (Series ID: S000007465)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000020439 | Gold Portfolio                      | FSAGX           |
| 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           |

### Health Care Portfolio (Series ID: S000007466)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000020440 | Health Care Portfolio | FSPHX           |

### Fintech Portfolio (Series ID: S000007467)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000020441 | Fintech Portfolio | FSVLX           |

### Materials Portfolio (Series ID: S000007469)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000020443 | Materials Portfolio                      | FSDPX           |
| 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           |

### Insurance Portfolio (Series ID: S000007470)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020444 | Insurance Portfolio | FSPCX           |

### Leisure Portfolio (Series ID: S000007471)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000020445 | Leisure Portfolio | FDLSX           |

### Health Care Services Portfolio (Series ID: S000007472)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000020446 | Health Care Services Portfolio | FSHCX           |

### Medical Technology and Devices Portfolio (Series ID: S000007473)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000020447 | Medical Technology and Devices Portfolio | FSMEX           |

### Banking Portfolio (Series ID: S000007475)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000020449 | Banking Portfolio | FSRBX           |

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

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000020450 | Communication Services Portfolio                      | FBMPX           |
| 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           |

### Pharmaceuticals Portfolio (Series ID: S000007481)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000020455 | Pharmaceuticals Portfolio | FPHAX           |

### Retailing Portfolio (Series ID: S000007482)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020456 | Retailing Portfolio | FSRPX           |

### Software and IT Services Portfolio (Series ID: S000007483)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000020457 | Software and IT Services Portfolio | FSCSX           |

### Technology Portfolio (Series ID: S000007484)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000020458 | Technology Portfolio | FSPTX           |

### Telecommunications Portfolio (Series ID: S000007485)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000020459 | Telecommunications Portfolio                      | FSTCX           |
| 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           |

### Biotechnology Portfolio (Series ID: S000007486)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000020460 | Biotechnology Portfolio | FBIOX           |

### Transportation Portfolio (Series ID: S000007487)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000020461 | Transportation Portfolio | FSRFX           |

### Utilities Portfolio (Series ID: S000007488)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020462 | Utilities Portfolio | FSUTX           |

### Wireless Portfolio (Series ID: S000007489)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000020463 | Wireless Portfolio | FWRLX           |

### Brokerage and Investment Management Portfolio (Series ID: S000007490)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000020464 | Brokerage and Investment Management Portfolio | FSLBX           |

### Enterprise Technology Services Portfolio (Series ID: S000007491)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000020465 | Enterprise Technology Services Portfolio | FBSOX           |

### Chemicals Portfolio (Series ID: S000007492)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000020466 | Chemicals Portfolio | FSCHX           |

### Tech Hardware Portfolio (Series ID: S000007493)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000020467 | Tech Hardware Portfolio | FDCPX           |

### Construction and Housing Portfolio (Series ID: S000007494)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000020468 | Construction and Housing Portfolio | FSHOX           |

### Fidelity Telecom and Utilities Fund (Series ID: S000039312)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000121123 | Fidelity Telecom and Utilities Fund | FIUIX           |

**Supplement to the**

**Fidelity® Select Portfolios®**

**April 29, 2025**

**STATEMENT OF ADDITIONAL INFORMATION**

*The following information supplements information for Defense and Aerospace Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Todd Haggerty as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 1 |  | 2 |
| Number of Accounts Managed with Performance-Based Advisory Fees |  |  |  |
| Assets Managed (in millions) | $3078 |  | $4 |
| Assets Managed with Performance-Based Advisory Fees (in millions) |  | /none |  |

---

\*Includes Defense and Aerospace Portfolio ($3,078 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Defense and Aerospace Portfolio beneficially owned by Mr. Haggerty was $10,001-$50,000.

*The following information supplements information for Insurance Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Nicole Abernethy as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 4 |  |  |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 |  |  |
| Assets Managed (in millions) | $3010 |  |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $1557 |  |  |

---

\*Includes Insurance Portfolio ($896 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Insurance Portfolio beneficially owned by Ms. Abernethy was "10,001-$50,000".

*The following information supplements information for Telecommunications Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Alex Boyajian as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 3 |  |  |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 |  |  |
| Assets Managed (in millions) | $2114 |  |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $1557 |  |  |

---

\*Includes Telecommunications Portfolio ($249 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Telecommunications Portfolio beneficially owned by Mr. Boyajian was none.

*The following information supplements information for Wireless Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Alex Boyajian as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 3 |  |  |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 |  |  |
| Assets Managed (in millions) | $2114 |  |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $1557 |  |  |

---

\*Includes Wireless Portfolio ($308 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Wireless Portfolio beneficially owned by Mr. Boyajian was none.

*Clayton Pfannenstiel serves as Co-Portfolio Manager of Industrials Portfolio.*

*David Wagner serves as Co-Portfolio Manager of Industrials Portfolio.*

*The following information supplements information for Industrials Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Clayton Pfannenstiel as of June 30, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 5 | 2 |  |
| Number of Accounts Managed with Performance-Based Advisory Fees |  |  |  |
| Assets Managed (in millions) | $4559 | $8 |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) |  |  |  |

---

\* Includes Industrials Portfolio ($763 (in millions) assets managed).

As of June 30, 2025, the dollar range of shares of Industrials Portfolio beneficially owned by Mr. Pfannenstiel was none.

SEL-SSTK-1025-229-1.475630.229 October 10, 2025

**Supplement to the**

**Fidelity® Telecom and Utilities Fund**

**April 1, 2025**

**STATEMENT OF ADDITIONAL INFORMATION**

*The following information supplements information found in the "Management Contract" section.*

The following table provides information relating to other accounts managed by Alex Boyajian as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 3 |  |  |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 |  |  |
| Assets Managed (in millions) | $2114 |  |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $1557 |  |  |

---

\* Includes Fidelity® Telecom and Utilities Fund managed by ($1,557 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Fidelity® Telecom and Utilities beneficially owned by Mr. Boyajian was none.

UIF-SSTK-1025-120-1.712214.120 October 10, 2025

**Supplement to the**

**Fidelity® Select Portfolios®**

**Class A, Class M, Class C, Class I, and Class Z**

**April 29, 2025**

**STATEMENT OF ADDITIONAL INFORMATION**

*The following information supplements information Telecommunications Portfolio found in the "Management Contracts" section.*

The following table provides information relating to other accounts managed by Alex Boyajian as of August 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
|  | Registered Investment <br> <u>Companies</u>\* | Other Pooled<br> Investment<br> <u>Vehicles</u> | Other<br> <u>Accounts</u> |
| Number of Accounts Managed | 3 |  |  |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 |  |  |
| Assets Managed (in millions) | $2114 |  |  |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $1557 |  |  |

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\* Includes Telecommunications Portfolio ($249 (in millions) assets managed).

As of August 31, 2025, the dollar range of shares of Technology Portfolio beneficially owned by Mr. Boyajian was none.

FASF-SSTK-1025-122-1.848947.122 October 10, 2025