Supplement to the
Fidelity® Select Portfolios®
Air Transportation Portfolio (FSAIX), Automotive Portfolio (FSAVX), Banking Portfolio (FSRBX), Biotechnology Portfolio (FBIOX), Brokerage and Investment Management Portfolio (FSLBX), Chemicals Portfolio (FSCHX), Communications Equipment Portfolio (FSDCX), Computers Portfolio (FDCPX), Construction and Housing Portfolio (FSHOX), Consumer Discretionary Portfolio (FSCPX), Consumer Finance Portfolio (FSVLX), Consumer Staples Portfolio (FDFAX), Defense and Aerospace Portfolio (FSDAX), Electronics Portfolio (FSELX), Energy Portfolio (FSENX), Energy Service Portfolio (FSESX), Environmental and Alternative Energy Portfolio (FSLEX), Financial Services Portfolio (FIDSX), Gold Portfolio (FSAGX), Health Care Portfolio (FSPHX), Industrial Equipment Portfolio (FSCGX), Industrials Portfolio (FCYIX), Insurance Portfolio (FSPCX), IT Services Portfolio (FBSOX), Leisure Portfolio (FDLSX), Materials Portfolio (FSDPX), Medical Delivery Portfolio (FSHCX), Medical Equipment and Systems Portfolio (FSMEX), Multimedia Portfolio (FBMPX), Natural Gas Portfolio (FSNGX), Natural Resources Portfolio (FNARX), Pharmaceuticals Portfolio (FPHAX), Retailing Portfolio (FSRPX), Software and Computer Services Portfolio (FSCSX), Technology Portfolio (FSPTX), Telecommunications Portfolio (FSTCX), Transportation Portfolio (FSRFX), Utilities Portfolio (FSUTX), and Wireless Portfolio (FWRLX)
Consumer Staples Portfolio is a Class of shares of Consumer Staples Portfolio; Gold Portfolio is a Class of shares of Gold Portfolio; Materials Portfolio is a Class of shares of Materials Portfolio; and Telecommunications Portfolio is a Class of shares of Telecommunications Portfolio
Funds of Fidelity Select Portfolios
STATEMENT OF ADDITIONAL INFORMATION
April 28, 2012
Sean Gavin no longer serves as co-manager of Select Air Transportation Portfolio. All references to Sean Gavin in the "Management Contracts" section beginning on page 62 are no longer applicable.
Vincent Montemaggiore no longer serves as co-manager of Select Banking Portfolio. All references to Vincent Montemaggiore in the "Management Contracts" section beginning on page 62 are no longer applicable.
Charlie Chai no longer serves as co-manager of Select Communications Equipment Portfolio. All references to Charlie Chai in the "Management Contracts" section beginning on page 62 are no longer applicable.
Daniel Kelley no longer serves as co-manager of Select Construction and Housing Portfolio. All references to Daniel Kelley in the "Management Contracts" section beginning on page 62 are no longer applicable.
John Sheehy no longer serves as co-manager of Select Defense and Aerospace Portfolio. All references to John Sheehy in the "Management Contracts" section beginning on page 62 are no longer applicable.
Sean Gavin no longer serves as co-manager of Select Transportation Portfolio. All references to Sean Gavin in the "Management Contracts" section beginning on page 62 are no longer applicable.
Gordon Scott has replaced John Harris as the portfolio manager of Consumer Discretionary Portfolio. All references to John Harris are no longer applicable.
The following information supplements similar information found in the "Management Contracts" section beginning on page 62.
The following table provides information relating to other accounts managed by Mr. Scott as of May 31, 2012:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
10 |
none |
1 |
Number of Accounts Managed with Performance-Based Advisory Fees |
5 |
none |
none |
Assets Managed (in millions) |
$ 1,956 |
none |
$ 1 |
Assets Managed with Performance-Based Advisory Fees (in millions) |
$ 680 |
none |
none |
* Includes Consumer Discretionary Portfolio ($303 (in millions) assets managed).
SELB-12-11 November 05, 2012 1.475630.167
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Gordon Scott |
Consumer Discretionary Portfolio |
$100,001 - $500,000 |
Shilpa Mehra serves as co-manager of Consumer Finance Portfolio. The following information supplements information found in the "Management Contracts"section beginning on page 62.
The following table provides information relating to other accounts managed by Ms. Mehra as of April 30, 2012:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
1 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
none |
none |
none |
Assets Managed (in millions) |
$ 198 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Consumer Finance Portfolio ($198 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Shilpa Mehra |
Consumer Finance Portfolio |
none |
Borys Kuroschepov serves as co-manager of Industrial Equipment Portfolio.
The following information supplements similar information found in the "Management Contracts" section beginning on page 62.
The following table provides information relating to other accounts managed by Mr. Kuroschepov as of August 31, 2012:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
2 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
none |
none |
none |
Assets Managed (in millions) |
$ 353 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Industrial Equipment Portfolio ($297 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Borys Kuroschepov |
Industrial Equipment Portfolio |
none |
Steven Bullock has replaced Andrew Hatem as the portfolio manager of Medical Delivery Portfolio. All references to Andrew Hatem are no longer applicable.
The following information supplements similar information found in the "Management Contracts" section beginning on page 62.
The following table provides information relating to other accounts managed by Mr. Bullock as of July 31, 2012:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
2 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
none |
none |
none |
Assets Managed (in millions) |
$ 1,060 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Medical Delivery Portfolio ($779 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Steven Bullock |
Medical Delivery Portfolio |
none |
Ted Davis serves as co-manager of Natural Gas Portfolio. The following information supplements information found in the "Management Contracts"section beginning on page 62.
The following table provides information relating to other accounts managed by Mr. Davis as of September 30, 2012:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
1 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
none |
none |
none |
Assets Managed (in millions) |
$ 332 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Natural Gas Portfolio ($332 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Ted Davis |
Natural Gas Portfolio |
$1 - $10,000 |