Quarterly Holdings Report

for

Fidelity® Select Portfolios®

IT Services Portfolio

November 30, 2022

BSO-NPRT3-0123

1.810669.118

Common Stocks - 98.1%
	Shares	Value ($)
Consumer Finance - 0.6%
Consumer Finance - 0.6%
NerdWallet, Inc. (a)	963,700	12,238,990
Diversified Consumer Services - 3.5%
Specialized Consumer Services - 3.5%
H&R Block, Inc. (a)	1,773,000	77,497,830
Internet & Direct Marketing Retail - 1.1%
Internet & Direct Marketing Retail - 1.1%
Global-e Online Ltd. (a)(b)	1,135,525	24,493,274
IT Services - 87.2%
Data Processing & Outsourced Services - 59.4%
Automatic Data Processing, Inc.	143,875	38,003,143
Block, Inc. Class A (a)(b)	1,153,700	78,186,249
ExlService Holdings, Inc. (b)	459,900	86,093,280
Fiserv, Inc. (b)	1,027,917	107,273,418
MasterCard, Inc. Class A	1,008,600	359,465,040
Nuvei Corp. (a)(b)(c)	189,100	5,826,171
Paychex, Inc. (a)	452,200	56,086,366
PayPal Holdings, Inc. (b)	186,840	14,650,124
TaskUs, Inc. (a)(b)	424,637	8,352,610
The Western Union Co.	4,800	70,368
Visa, Inc. Class A (a)	2,237,748	485,591,316
WEX, Inc. (b)	700	118,398
WNS Holdings Ltd. sponsored ADR (b)	795,892	67,109,613
		1,306,826,096
Internet Services & Infrastructure - 3.4%
Cloudflare, Inc. (a)(b)	303,200	14,899,248
GoDaddy, Inc. (b)	51,527	4,077,332
MongoDB, Inc. Class A (a)(b)	188,700	28,812,603
Okta, Inc. (b)	40,400	2,154,128
Snowflake, Inc. (a)(b)	119,900	17,133,710
Twilio, Inc. Class A (b)	136,600	6,696,132
		73,773,153
IT Consulting & Other Services - 24.4%
Accenture PLC Class A	864,780	260,238,245
Amdocs Ltd.	675,500	60,024,930
Cognizant Technology Solutions Corp. Class A	66,832	4,157,619
EPAM Systems, Inc. (b)	301,200	111,016,296
Gartner, Inc. (b)	290,800	101,887,596
		537,324,686
TOTAL IT SERVICES		1,917,923,935
Software - 5.7%
Application Software - 5.7%
Intuit, Inc.	170,156	69,353,884
Paycom Software, Inc. (b)	163,800	55,544,580
		124,898,464
TOTAL COMMON STOCKS (Cost $1,273,831,164)		2,157,052,493

Money Market Funds - 22.8%
	Shares	Value ($)
Fidelity Cash Central Fund 3.86% (d)	34,533,025	34,539,931
Fidelity Securities Lending Cash Central Fund 3.86% (d)(e)	467,551,781	467,598,536
TOTAL MONEY MARKET FUNDS (Cost $502,138,467)		502,138,467

TOTAL INVESTMENT IN SECURITIES - 120.9% (Cost $1,775,969,631)	2,659,190,960
NET OTHER ASSETS (LIABILITIES) - (20.9)%	(459,485,399)
NET ASSETS - 100.0%	2,199,705,561

Legend

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

(b) Non-income producing

(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 $5,826,171 or 0.3% 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

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)	% ownership, end of period
Fidelity Cash Central Fund 3.86%	1,591,416	486,047,087	453,098,572	158,155	-	-	34,539,931	0.1%
Fidelity Securities Lending Cash Central Fund 3.86%	84,129,800	1,456,476,034	1,073,007,298	302,913	-	-	467,598,536	1.4%
Total	85,721,216	1,942,523,121	1,526,105,870	461,068	-	-	502,138,467

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. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted 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)

Valuation techniques used to value 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 service 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 any 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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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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