0000225322-23-000246.txt : 20230927 0000225322-23-000246.hdr.sgml : 20230927 20230927110630 ACCESSION NUMBER: 0000225322-23-000246 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20230927 DATE AS OF CHANGE: 20230927 EFFECTIVENESS DATE: 20230927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SELECT PORTFOLIOS CENTRAL INDEX KEY: 0000320351 IRS NUMBER: 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: 231282771 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 0000320351 S000007454 Consumer Discretionary Portfolio C000020428 Consumer Discretionary Portfolio FSCPX 0000320351 S000007455 Industrials Portfolio C000020429 Industrials Portfolio FCYIX 0000320351 S000007456 Defense and Aerospace Portfolio C000020430 Defense and Aerospace Portfolio FSDAX 0000320351 S000007458 Semiconductors Portfolio C000020432 Semiconductors Portfolio FSELX 0000320351 S000007459 Energy Portfolio C000020433 Energy Portfolio FSENX 0000320351 S000007462 Financials Portfolio C000020436 Financials Portfolio FIDSX 0000320351 S000007463 Consumer Staples Portfolio C000020437 Consumer Staples Portfolio FDFAX 0000320351 S000007464 Automotive Portfolio C000020438 Automotive Portfolio FSAVX 0000320351 S000007465 Gold Portfolio C000020439 Gold Portfolio FSAGX 0000320351 S000007466 Health Care Portfolio C000020440 Health Care Portfolio FSPHX 0000320351 S000007467 Fintech Portfolio C000020441 Fintech Portfolio FSVLX 0000320351 S000007469 Materials Portfolio C000020443 Materials Portfolio FSDPX 0000320351 S000007470 Insurance Portfolio C000020444 Insurance Portfolio FSPCX 0000320351 S000007471 Leisure Portfolio C000020445 Leisure Portfolio FDLSX 0000320351 S000007472 Health Care Services Portfolio C000020446 Health Care Services Portfolio FSHCX 0000320351 S000007473 Medical Technology and Devices Portfolio C000020447 Medical Technology and Devices Portfolio FSMEX 0000320351 S000007475 Banking Portfolio C000020449 Banking Portfolio FSRBX 0000320351 S000007476 Communication Services Portfolio C000020450 Communication Services Portfolio FBMPX 0000320351 S000007481 Pharmaceuticals Portfolio C000020455 Pharmaceuticals Portfolio FPHAX 0000320351 S000007482 Retailing Portfolio C000020456 Retailing Portfolio FSRPX 0000320351 S000007483 Software and IT Services Portfolio C000020457 Software and IT Services Portfolio FSCSX 0000320351 S000007484 Technology Portfolio C000020458 Technology Portfolio FSPTX 0000320351 S000007485 Telecommunications Portfolio C000020459 Telecommunications Portfolio FSTCX 0000320351 S000007486 Biotechnology Portfolio C000020460 Biotechnology Portfolio FBIOX 0000320351 S000007487 Transportation Portfolio C000020461 Transportation Portfolio FSRFX 0000320351 S000007488 Utilities Portfolio C000020462 Utilities Portfolio FSUTX 0000320351 S000007489 Wireless Portfolio C000020463 Wireless Portfolio FWRLX 0000320351 S000007490 Brokerage and Investment Management Portfolio C000020464 Brokerage and Investment Management Portfolio FSLBX 0000320351 S000007491 Enterprise Technology Services Portfolio C000020465 Enterprise Technology Services Portfolio FBSOX 0000320351 S000007492 Chemicals Portfolio C000020466 Chemicals Portfolio FSCHX 0000320351 S000007493 Tech Hardware Portfolio C000020467 Tech Hardware Portfolio FDCPX 0000320351 S000007494 Construction and Housing Portfolio C000020468 Construction and Housing Portfolio FSHOX 497 1 filing7077.htm PRIMARY DOCUMENT
Supplement to the
Fidelity® Select Portfolios®
April 29, 2023
STATEMENT OF ADDITIONAL INFORMATION
 
 
Hiroki Sugihara no longer serves as Portfolio Manager of Automotive Portfolio.
Aidan Brandt serves as Portfolio Manager of Automotive Portfolio.
Charles Ackerman no longer serves as Co-Portfolio Manager of Brokerage and Investment Management Portfolio.
Nadim Rabaia and Pierre Sorel serve as Co-Portfolio Managers of Brokerage and Investment Management Portfolio.
Janet Glazer no longer serves as Portfolio Manager of Industrials Portfolio.
David Wagner serves as Portfolio Manager of Industrials Portfolio.
The Board of Trustees has approved, subject to shareholder approval, a proposal to modify IT Services Portfolio's fundamental concentration policy. A meeting of the shareholders of the fund will be held during the second quarter of 2023 to vote on this proposal.  
Shareholders should read the proxy statement, which contains important information about the proposal, when it becomes available. For a free copy of the proxy statement, please contact Fidelity at 1-800-544-8544. The proxy statement will also be available on the Securities and Exchange Commission's web site (www.sec.gov). Results of the shareholder meeting will appear in the fund's next shareholder report.
Pending shareholder approval of the fund's proposal to modify its concentration policy, effective July 1, 2023, the following information replaces similar information for IT Services Portfolio found in the "Investment Policies and Limitations" section.
Concentration
For Enterprise Technology Services Portfolio (fka IT Services Portfolio):
The fund may not purchase the securities of any issuer if, as a result, less than 25% of the fund's total assets would be invested in the securities of issuers principally engaged in the enterprise technology services industry.
The following information supplements information for Automotive Portfolio found in the "Management Contracts" section.
The following table provides information relating to other accounts managed by Aidan Brandt as of July 31, 2023:
 
  
Registered Investment 
Companies*
  
Other Pooled
Investment
Vehicles
  
Other
Accounts
Number of Accounts Managed
  
1
  
none
  
none
Number of Accounts Managed with Performance-Based Advisory Fees
  
none
  
none
  
none
Assets Managed (in millions)
  
$147
  
none
  
none
Assets Managed with Performance-Based Advisory Fees (in millions)
  
none
  
none
  
none
* Includes Automotive Portfolio ($147 (in millions) assets managed).
As of July 31, 2023, the dollar range of shares of Select Automotive Portfolio beneficially owned by Mr. Brandt was none.
The following information supplements information Brokerage and Investment Management Portfolio found in the "Management Contracts" section.
The following table provides information relating to other accounts managed by Pierre Sorel as of April 30, 2023:
 
  
Registered Investment 
Companies*
  
Other Pooled
Investment
Vehicles
  
Other
Accounts
Number of Accounts Managed
  
13
  
3
  
3
Number of Accounts Managed with Performance-Based Advisory Fees
  
3
  
none
  
none
Assets Managed (in millions)
  
$13,661
  
$165
  
$266
Assets Managed with Performance-Based Advisory Fees (in millions)
  
$811
  
none
  
none
* Includes Brokerage and Investment Management Portfolio ($729 (in millions) assets managed).
As of April 30, 2023, the dollar range of shares of Brokerage and Investment Management Portfolio beneficially owned by Mr. Sorel was none.
The following table provides information relating to other accounts managed by Nadim Rabaia as of June 30, 2023:
 
  
Registered Investment 
Companies*
  
Other Pooled
Investment
Vehicles
  
Other
Accounts
Number of Accounts Managed
  
1
  
none
  
none
Number of Accounts Managed with Performance-Based Advisory Fees
  
none
  
none
  
none
Assets Managed (in millions)
  
$699
  
none
  
none
Assets Managed with Performance-Based Advisory Fees (in millions)
  
none
  
none
  
none
* Includes Brokerage and Investment Management Portfolio ($699 (in millions) assets managed).
As of June 30, 2023, the dollar range of shares of Brokerage and Investment Management Portfolio beneficially owned by Mr.Rabaia was none.
The following information supplements information Industrials Portfolio found in the "Management Contracts" section.
The following table provides information relating to other accounts managed by David Wagner as of July 31, 2023:
 
  
Registered Investment 
Companies*
  
Other Pooled
Investment
Vehicles
  
Other
Accounts
Number of Accounts Managed
  
5
  
none
  
none
Number of Accounts Managed with Performance-Based Advisory Fees
  
none
  
none
  
none
Assets Managed (in millions)
  
$1,982
  
none
  
none
Assets Managed with Performance-Based Advisory Fees (in millions)
  
none
  
none
  
none
* Includes Industrials Portfolio ($493 (in millions) assets managed).
As of July 31, 2023, the dollar range of shares of Industrials Portfolio beneficially owned by Mr. Wagner was none.
 
SEL-SSTK-0923-226-1.475630.226
September 27, 2023