Supplement to the
Fidelity® Select Portfolios®
April 29, 2017
STATEMENT OF ADDITIONAL INFORMATION
Katherine Shaw has replaced Peter Dixon as a portfolio manager of Consumer Discretionary Portfolio.
Becky Painter serves as co-manager of Leisure Portfolio. Katherine Shaw serves as co-manager of Leisure Portfolio.
Asher Anolic serves as lead portfolio manager of Pharmaceuticals Portfolio. Karim Suwwan de Felipe serves as co-manager of Pharmaceuticals Portfolio.
Edward Yoon no longer serves as co-manager of Health Care Services Portfolio. Justin Segalini serves as portfolio manager of Health Care Services Portfolio.
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 Mr. Mattingly as of April 30, 2017:
| 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) | $52 | none | none |
| Assets Managed with Performance-Based Advisory Fees (in millions) | none | none | none |
* Includes Select Automotive Portfolio ($52 (in millions) assets managed).
As of April 30, 2017, the dollar range of shares of Select Automotive Portfolio beneficially owned by Mr. Mattingly was none.
The following information replaces similar information for Consumer Discretionary Portfolio found in the "Management Contracts" section.
The following table provides information relating to other accounts managed by Ms. Shaw as of August 31, 2017:
| Registered Investment Companies* | Other Pooled Investment Vehicles | Other Accounts |
|
| Number of Accounts Managed | 6 | none | none |
| Number of Accounts Managed with Performance-Based Advisory Fees | 1 | none | none |
| Assets Managed (in millions) | $3,167 | none | none |
| Assets Managed with Performance-Based Advisory Fees (in millions) | $760 | none | none |
* Includes Consumer Discretionary Portfolio ($667 (in millions) assets managed).
As of August 31, 2017, the dollar range of shares of Consumer Discretionary Portfolio beneficially owned by Ms. Shaw was none.
The following information supplements information for Leisure Portfolio found in the "Management Contracts" section.
The following table provides information relating to other accounts managed by Ms. Painter as of August 31, 2017:
| 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) | $524 | none | none |
| Assets Managed with Performance-Based Advisory Fees (in millions) | none | none | none |
* Includes Leisure Portfolio ($524 (in millions) assets managed).
As of August 31, 2017, the dollar range of shares of Consumer Discretionary Portfolio beneficially owned by Ms. Painter was $10,001 - $50,000.
The following information supplements information for Pharmaceuticals Portfolio found in the "Management Contracts".
The following table provides information relating to other accounts managed by Mr. Suwwan de Felipe as of July 31, 2017:
| 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) | $933 | none | none |
| Assets Managed with Performance-Based Advisory Fees (in millions) | none | none | none |
* Includes Select Pharmaceuticals Portfolio ($933 (in millions) assets managed).
As of July 31, 2017, the dollar range of shares of Pharmaceuticals Portfolio beneficially owned by Mr. Suwwan de Felipe was $50,001 - $100,000.
| SELB-17-05 1.475630.199 | October 23, 2017 |