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), Environment 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 29, 2014
The following information replaces similar information found in the "Trustees and Officers" section beginning on page 52.
The following table sets forth information describing the dollar range of equity securities beneficially owned by each Trustee in each fund and in all funds in the aggregate within the same fund family overseen by the Trustee for the calendar year ended December 31, 2013 (or as of March 31, 2014 for Mr. Hogan, Trustee as of March 18, 2014).
Interested Trustees |
||
DOLLAR RANGE OF |
Brian B. Hogan |
|
Air Transportation Portfolio |
none |
|
Automotive Portfolio |
none |
|
Banking Portfolio |
none |
|
Biotechnology Portfolio |
over $100,000 |
|
Brokerage and Investment Management Portfolio |
none |
|
Chemicals Portfolio |
none |
|
Communications Equipment Portfolio |
none |
|
Computers Portfolio |
none |
|
Construction and Housing Portfolio |
none |
|
Consumer Discretionary Portfolio |
none |
|
Consumer Finance Portfolio |
none |
|
Consumer Staples Portfolio |
none |
|
Defense and Aerospace Portfolio |
over $100,000 |
|
Electronics Portfolio |
none |
|
Energy Portfolio |
none |
|
Energy Service Portfolio |
over $100,000 |
|
Environment and Alternative Energy Portfolio |
none |
|
Financial Services Portfolio |
none |
|
Gold Portfolio |
over $100,000 |
|
Health Care Portfolio |
over $100,000 |
|
Industrial Equipment Portfolio |
none |
|
Industrials Portfolio |
over $100,000 |
|
Insurance Portfolio |
none |
|
IT Services Portfolio |
none |
|
Leisure Portfolio |
none |
|
Materials Portfolio |
$10,001 - $50,000 |
|
Medical Delivery Portfolio |
none |
|
Medical Equipment and Systems Portfolio |
$50,001 - $100,000 |
|
Multimedia Portfolio |
none |
|
Natural Gas Portfolio |
over $100,000 |
|
Natural Resources Portfolio |
none |
|
Pharmaceuticals Portfolio |
over $100,000 |
|
Retailing Portfolio |
none |
|
Software and Computer Services Portfolio |
none |
|
Technology Portfolio |
over $100,000 |
|
Telecommunications Portfolio |
$10,001 - $50,000 |
|
Transportation Portfolio |
none |
|
Utilities Portfolio |
$10,001 - $50,000 |
|
Wireless Portfolio |
none |
|
AGGREGATE DOLLAR RANGE OF |
over $100,000 |
|
Independent Trustees |
|||||
DOLLAR RANGE OF |
Ned C. Lautenbach |
David A. Rosow |
Garnett A. Smith |
William S. |
Michael E. Wiley |
Air Transportation Portfolio |
none |
none |
none |
none |
none |
Automotive Portfolio |
none |
none |
none |
none |
none |
Banking Portfolio |
none |
none |
none |
none |
none |
Biotechnology Portfolio |
none |
over $100,000 |
none |
none |
over $100,000 |
Brokerage and Investment Management Portfolio |
none |
none |
none |
none |
none |
Chemicals Portfolio |
none |
none |
none |
none |
$10,001 - $50,000 |
Communications Equipment Portfolio |
none |
none |
none |
none |
none |
Computers Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Construction and Housing Portfolio |
none |
over $100,000 |
none |
none |
none |
Consumer Discretionary Portfolio |
none |
$50,001 - $100,000 |
none |
none |
none |
Consumer Finance Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Consumer Staples Portfolio |
none |
$50,001 - $100,000 |
none |
none |
none |
Defense and Aerospace Portfolio |
none |
none |
none |
none |
none |
Electronics Portfolio |
none |
none |
none |
none |
none |
Energy Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Energy Service Portfolio |
none |
none |
none |
none |
none |
Environment and Alternative Energy Portfolio |
none |
none |
none |
none |
none |
Financial Services Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Gold Portfolio |
none |
none |
none |
none |
none |
Health Care Portfolio |
none |
$50,001 - $100,000 |
$10,001 - $50,000 |
none |
none |
Industrial Equipment Portfolio |
none |
none |
none |
none |
none |
Industrials Portfolio |
none |
$10,001 - $50,000 |
none |
none |
$10,001 - $50,000 |
Insurance Portfolio |
none |
$10,001 - $50,000 |
none |
none |
$10,001 - $50,000 |
IT Services Portfolio |
none |
$10,001 - $50,000 |
none |
none |
$10,001 - $50,000 |
Leisure Portfolio |
none |
none |
none |
none |
none |
Materials Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Medical Delivery Portfolio |
none |
none |
none |
none |
none |
Medical Equipment and Systems Portfolio |
none |
$10,001 - $50,000 |
none |
none |
none |
Multimedia Portfolio |
none |
$50,001 - $100,000 |
none |
none |
none |
Natural Gas Portfolio |
none |
none |
none |
none |
none |
Natural Resources Portfolio |
none |
none |
none |
none |
none |
Pharmaceuticals Portfolio |
none |
none |
none |
none |
$10,001 - $50,000 |
Retailing Portfolio |
none |
none |
none |
none |
none |
Software and Computer Services Portfolio |
none |
none |
none |
none |
none |
Technology Portfolio |
none |
none |
none |
none |
none |
Telecommunications Portfolio |
none |
none |
none |
none |
none |
Transportation Portfolio |
none |
none |
none |
none |
none |
Utilities Portfolio |
none |
none |
none |
none |
none |
Wireless Portfolio |
none |
none |
none |
none |
none |
AGGREGATE DOLLAR RANGE OF |
over $100,000 |
over $100,000 |
$10,001 - $50,000 |
over $100,000 |
over $100,000 |
Colin Anderson has replaced Ali Khan as portfolio manager of Communications Equipment 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. Anderson as of October 31, 2014:
|
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) |
$ 266 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Communications Equipment Portfolio ($252 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Colin Anderson |
Communications Equipment Portfolio |
$10,001-$50,000 |
Peter Dixon has replaced Gordon Scott as the portfolio manager of Consumer Discretionary 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. Dixon as of July 31, 2014:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
7 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
1 |
none |
none |
Assets Managed (in millions) |
$ 3,116 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
$ 474 |
none |
none |
* Includes Consumer Discretionary Portfolio ($779 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Peter Dixon |
Consumer Discretionary Portfolio |
none |
Kevin Walenta has replaced Anna Davydova as the portfolio manager of Environment and Alternative Energy Portfolio.
The following information replaces similar information found in the "Management Contracts" section beginning on page 62.
The following table provides information relating to other accounts managed by Mr. Walenta as of November 30, 2014:
|
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) |
$ 90 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Environment and Alternative Energy Portfolio ($90 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Kevin Walenta |
Environment and Alternative Energy Portfolio |
none |
Deena Friedman has replaced Peter Dixon as portfolio manager of Retailing 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 Ms. Friedman as of July 31, 2014:
|
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) |
$ 753 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Retailing Portfolio ($753 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Deena Friedman |
Retailing Portfolio |
$10,001-$50,000 |
Ali Khan has replaced Brian Lempel as portfolio manager of Software and Computer Services 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. Khan as of July 31, 2014:
|
Registered |
Other Pooled |
Other |
Number of Accounts Managed |
3 |
none |
none |
Number of Accounts Managed with Performance-Based Advisory Fees |
none |
none |
none |
Assets Managed (in millions) |
$ 3,286 |
none |
none |
Assets Managed with Performance-Based Advisory Fees (in millions) |
none |
none |
none |
* Includes Software and Computer Services Portfolio ($3,011 (in millions) assets managed).
Sector Fund Manager |
Select Fund(s) |
Dollar Range of Shares owned |
Ali Khan |
Software and Computer Services Portfolio |
$10,001-$50,000 |
SELB-15-02 February 13, 2015 1.475630.184
The following information replaces similar information for Consumer Discretionary Portfolio found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 10.
Peter Dixon (portfolio manager) has managed the fund since July 2014.
The following information replaces similar information for Retailing Portfolio found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 19.
Deena Friedman (portfolio manager) has managed the fund since July 2014.
The following information replaces the biographical information for Gordon Scott found in the "Fund Management" section on page 30.
Peter Dixon is portfolio manager of Consumer Discretionary Portfolio, which he has managed since July 2014. He also manages other funds. Since joining Fidelity Investments in 2006, Mr. Dixon has worked as a research analyst and portfolio manager.
The following information replaces the biographical information for Peter Dixon for Retailing Portfolio found in the "Fund Management" section on page 30.
Deena Friedman is portfolio manager of Retailing Portfolio, which she has managed since July 2014. Since joining Fidelity Investments in 2006, Ms. Friedman has worked as a research analyst and portfolio manager.
SELCON-15-01 February 13, 2015 1.913699.112
Brian Lempel no longer serves as portfolio manager of Software and Computer Services Portfolio.
The following information replaces similar information for Communications Equipment Portfolio found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 4.
Colin Anderson (portfolio manager) has managed the fund since October 2014.
The following information replaces similar information for Software and Computer Services Portfolio found in the "Fund Summary" section under the heading "Portfolio Manager(s)" on page 16.
Ali Khan (portfolio manager) has managed the fund since July 2014.
The following information replaces the biographical information for Ali Khan found in the "Fund Services" section under the heading "Fund Management" on page 30.
Ali Khan is portfolio manager of Software and Computer Services Portfolio, which he has managed since July 2014. He also manages other funds. Since joining Fidelity Investments in 2008, Mr. Khan has worked as an equity research associate and portfolio manager.
The following information supplements the biographical information found in the "Fund Services" section under the heading "Fund Management" on page 30.
Colin Anderson is portfolio manager of Communications Equipment Portfolio, which he has managed since October 2014. He also manages other funds. Since joining Fidelity Investments in 2007, Mr. Anderson has worked as a research associate, research analyst, and portfolio manager.
SELTEC-15-01 February 13, 2015 1.918659.109