UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3114

Fidelity Select Portfolios
(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices)       (Zip code)

Marc Bryant, Secretary

245 Summer St.

Boston, Massachusetts 02210
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	January 31
Date of reporting period:	October 31, 2013

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Telecom and
Utilities Fund

October 31, 2013

1.809082.110

UIF-QTLY-1213

Investments October 31, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.5%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 6.9%
Media - 6.9%
Comcast Corp. Class A	1,356,541		$ 64,544
DISH Network Corp. Class A	197,300		9,510
			74,054
ENERGY - 6.4%
Oil, Gas & Consumable Fuels - 6.4%
Cheniere Energy, Inc. (a)	382,800		15,235
Energen Corp.	233,200		18,264
Energy Transfer Equity LP	266,087		17,985
Plains GP Holdings LP Class A	753,200		16,789
			68,273
FINANCIALS - 4.4%
Real Estate Investment Trusts - 4.4%
American Tower Corp.	586,800		46,563
TELECOMMUNICATION SERVICES - 28.9%
Diversified Telecommunication Services - 19.5%
AT&T, Inc.	1,988,900		71,998
Level 3 Communications, Inc. (a)	541,436		16,541
tw telecom, Inc. (a)	1,042,564		32,862
Verizon Communications, Inc.	1,722,800		87,017
			208,418
Wireless Telecommunication Services - 9.4%
America Movil S.A.B. de CV Series L sponsored ADR	226,000		4,839
China Mobile Ltd. sponsored ADR	87,500		4,552
SBA Communications Corp. Class A (a)	296,565		25,941
T-Mobile U.S., Inc. (a)	657,348		18,228
Telephone & Data Systems, Inc.	581,060		18,117
TIM Participacoes SA sponsored ADR	364,800		9,273
Vodafone Group PLC sponsored ADR	529,100		19,481
			100,431
TOTAL TELECOMMUNICATION SERVICES			308,849
UTILITIES - 52.9%
Electric Utilities - 26.7%
American Electric Power Co., Inc.	1,041,300		48,774
Duke Energy Corp.	1,191,380		85,458
Edison International	710,520		34,837
Entergy Corp.	178,800		11,572
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - continued
Electric Utilities - continued
ITC Holdings Corp.	71,500		$ 7,192
NextEra Energy, Inc.	559,100		47,384
NRG Yield, Inc. Class A	313,100		11,090
OGE Energy Corp.	1,027,278		37,907
			284,214
Gas Utilities - 3.0%
ONEOK, Inc.	569,686		32,187
Independent Power Producers & Energy Traders - 8.5%
Calpine Corp. (a)	1,172,020		23,640
NRG Energy, Inc.	1,436,001		40,969
The AES Corp.	1,870,096		26,350
			90,959
Multi-Utilities - 13.9%
CenterPoint Energy, Inc.	1,519,300		37,375
NiSource, Inc.	494,603		15,590
PG&E Corp.	799,708		33,468
Sempra Energy	671,210		61,174
			147,607
Water Utilities - 0.8%
American Water Works Co., Inc.	206,600		8,857
TOTAL UTILITIES			563,824
TOTAL COMMON STOCKS (Cost $896,145)		1,061,563
Money Market Funds - 1.1%
Fidelity Cash Central Fund, 0.09% (b) (Cost $11,123)	11,122,715		11,123
TOTAL INVESTMENT PORTFOLIO - 100.6% (Cost $907,268)			1,072,686
NET OTHER ASSETS (LIABILITIES) - (0.6)%			(6,023)
NET ASSETS - 100%		$ 1,066,663

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned (Amounts in thousands)
Fidelity Cash Central Fund	$ 16
Fidelity Securities Lending Cash Central Fund	52
Total	$ 68

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At October 31, 2013, the cost of investment securities for income tax purposes was $907,885,000. Net unrealized appreciation aggregated $164,801,000, of which $168,947,000 related to appreciated investment securities and $4,146,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity SelectCo, LLC (SelectCo) Fair Value Committee (the Committee), in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Select Portfolios's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Select Portfolios

By:	/s/Adrien E. Deberghes
	Adrien E. Deberghes
	President and Treasurer
Date:	December 30, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Adrien E. Deberghes
	Adrien E. Deberghes
	President and Treasurer
Date:	December 30, 2013

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer
Date:	December 30, 2013