Quarterly Holdings Report
for

Fidelity® Select Portfolio®

Energy Service Portfolio

May 31, 2021

ENS-QTLY-0721
1.802169.117

Schedule of Investments May 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.6%
	Shares	Value
Energy Equipment & Services - 94.5%
Oil & Gas Drilling - 11.5%
Borr Drilling Ltd. (a)(b)	65,712	$59,402
Helmerich & Payne, Inc.	265,098	7,489,019
Independence Contract Drilling, Inc. (a)(b)	39,062	136,326
Nabors Industries Ltd. (a)	57,941	5,424,436
Odfjell Drilling Ltd. (a)	2,889,382	7,490,351
Patterson-UTI Energy, Inc.	840,590	7,035,738
Shelf Drilling Ltd. (a)(c)	2,656,976	1,486,864
Transocean Ltd. (United States) (a)(b)	1,776,000	6,713,280
		35,835,416
Oil & Gas Equipment & Services - 83.0%
Archrock, Inc.	427,816	3,935,907
Baker Hughes Co. Class A	1,591,338	38,828,647
Cactus, Inc.	424,486	14,873,989
Championx Corp. (a)	692,748	18,357,822
Core Laboratories NV (b)	106,700	4,460,060
CSI Compressco LP	526,557	953,068
Dril-Quip, Inc. (a)	146,000	4,895,380
Forum Energy Technologies, Inc. (a)(b)	12,304	314,244
Frank's International NV (a)	553,083	1,858,359
Halliburton Co.	910,792	20,447,280
Helix Energy Solutions Group, Inc. (a)	950,029	4,968,652
Liberty Oilfield Services, Inc. Class A (a)	338,395	5,062,389
Nextier Oilfield Solutions, Inc. (a)	2,148,100	9,129,425
NOV, Inc. (a)	451,300	7,274,956
Oceaneering International, Inc. (a)	1,037,525	14,805,482
Oil States International, Inc. (a)	250,825	1,612,805
ProPetro Holding Corp. (a)	1,030,100	10,239,194
Ranger Energy Services, Inc. Class A (a)	652,187	5,217,496
Schlumberger Ltd.	1,820,311	57,030,348
SEACOR Marine Holdings, Inc. (a)	100	434
Smart Sand, Inc. (a)(b)	178,890	457,958
Solaris Oilfield Infrastructure, Inc. Class A	121,200	1,210,788
Technip Energies NV (a)	261,754	3,975,585
TechnipFMC PLC (a)	2,169,572	18,636,623
Tenaris SA sponsored ADR	293,500	6,724,085
TETRA Technologies, Inc. (a)	691,922	2,490,919
TETRA Technologies, Inc. warrants 12/14/21 (a)	300,100	24,562
Weatherford International PLC (a)	1,499	17,388
		257,803,845
TOTAL ENERGY EQUIPMENT & SERVICES		293,639,261
Oil, Gas & Consumable Fuels - 5.1%
Oil & Gas Exploration & Production - 4.0%
National Energy Services Reunited Corp. (a)	977,074	12,535,859
Oil & Gas Storage & Transport - 1.1%
Cheniere Energy, Inc. (a)	32,912	2,794,229
Golar LNG Ltd. (a)	46,233	587,159
		3,381,388
TOTAL OIL, GAS & CONSUMABLE FUELS		15,917,247
TOTAL COMMON STOCKS
(Cost $287,546,042)		309,556,508
Money Market Funds - 3.6%
Fidelity Cash Central Fund 0.03% (d)	635,012	635,139
Fidelity Securities Lending Cash Central Fund 0.03% (d)(e)	10,776,361	10,777,438
TOTAL MONEY MARKET FUNDS
(Cost $11,412,459)		11,412,577
TOTAL INVESTMENT IN SECURITIES - 103.2%
(Cost $298,958,501)		320,969,085
NET OTHER ASSETS (LIABILITIES) - (3.2)%		(10,100,656)
NET ASSETS - 100%		$310,868,429

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,486,864 or 0.5% of net assets.

 (d) 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.

 (e) Investment made with cash collateral received from securities on loan.

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
Fidelity Cash Central Fund	$296
Fidelity Securities Lending Cash Central Fund	5,942
Total	$6,238

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of 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. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by 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 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 reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. 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. 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 significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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.

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