0001379491-16-003881.txt : 20160502 0001379491-16-003881.hdr.sgml : 20160502 20160502115021 ACCESSION NUMBER: 0001379491-16-003881 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160502 DATE AS OF CHANGE: 20160502 EFFECTIVENESS DATE: 20160502 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: 161610576 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 S000007453 Air Tranportation Portfolio C000020427 Air Transportation Portfolio FSAIX 0000320351 S000007455 Industrials Portfolio C000020429 Industrials Portfolio FCYIX 0000320351 S000007456 Defense and Aerospace Portfolio C000020430 Defense and Aerospace Portfolio FSDAX 0000320351 S000007461 Environment and Alternative Energy Portfolio C000020435 Environment and Alternative Energy Portfolio FSLEX 0000320351 S000007468 Industrial Equipment Portfolio C000020442 Industrial Equipment Portfolio FSCGX 0000320351 S000007487 Transportation Portfolio C000020461 Transportation Portfolio FSRFX 497 1 filing995.htm PRIMARY DOCUMENT

Supplement to the
Fidelity® Select Portfolios®
Industrials Sector
April 29, 2016
Prospectus

Proposed Reorganization. The Board of Trustees of Fidelity Select Portfolios has unanimously approved an Agreement and Plan of Reorganization (“Agreement”) between Industrial Equipment Portfolio and Industrials Portfolio pursuant to which Industrial Equipment Portfolio would be reorganized on a tax-free basis with and into Industrials Portfolio.

The Agreement provides for the transfer of all of the assets of Industrial Equipment Portfolio in exchange for shares of Industrials Portfolio equal in value to the net assets of Industrial Equipment Portfolio and the assumption by Industrials Portfolio of all of the liabilities of Industrial Equipment Portfolio. After the exchange, Industrial Equipment Portfolio will distribute the Industrials Portfolio shares to its shareholders pro rata, in liquidation of Industrial Equipment Portfolio. As a result, shareholders of Industrial Equipment Portfolio will become shareholders of Industrials Portfolio (these transactions are collectively referred to as the “Reorganization”).

A Special Meeting (the “Meeting”) of the Shareholders of Industrial Equipment Portfolio is expected to be held during the third quarter of 2016 and approval of the Agreement will be voted on at that time. A combined proxy statement and prospectus containing more information with respect to the Reorganization will be provided to shareholders of record of Industrial Equipment Portfolio in advance of the meeting.

If the Agreement is approved at the Meeting and certain conditions required by the Agreement are satisfied, the Reorganization is expected to take place on or about October 14, 2016. If shareholder approval of the Agreement is delayed due to failure to meet a quorum or otherwise, the Reorganization will become effective, if approved, as soon as practicable thereafter.

The foregoing is not a solicitation of any proxy. For a free copy of the Proxy Statement describing the Reorganization (and containing important information about fees, expenses and risk considerations) and a Prospectus for Industrials Portfolio, please call 1-800-544-8544. The prospectus/proxy statement will also be available for free on the Securities and Exchange Commission’s web site (www.sec.gov).


SELCI-16-02
1.911519.115		May 2, 2016