Quarterly Holdings Report

for

Fidelity® Select Portfolios®

Medical Technology and Devices Portfolio

November 30, 2023

MES-NPRT3-0124

1.810698.119

Common Stocks - 96.0%
	Shares	Value ($)
Biotechnology - 1.4%
Biotechnology - 1.4%
Natera, Inc. (a)	500,000	27,975,000
Oxford BioMedica PLC (a)	4,000,000	8,423,066
Repligen Corp. (a)(b)	257,500	40,491,875
		76,889,941
Financial Services - 0.0%
Specialized Finance - 0.0%
Saluda Medical, Inc. warrants 1/20/27 (a)(c)(d)	235,185	571,500
Health Care Equipment & Supplies - 50.3%
Health Care Equipment - 49.6%
Abbott Laboratories	2,180,000	227,352,200
Becton, Dickinson & Co.	160,000	37,788,800
Boston Scientific Corp. (a)	14,000,000	782,460,000
DexCom, Inc. (a)	640,000	73,932,800
Edwards Lifesciences Corp. (a)	1,400,000	94,794,000
GE Healthcare Holding LLC	380,000	26,014,800
Glaukos Corp. (a)	1,200,000	76,668,000
Inspire Medical Systems, Inc. (a)	690,000	100,263,900
Insulet Corp. (a)	660,000	124,799,400
Intuitive Surgical, Inc. (a)	700,000	217,588,000
iRhythm Technologies, Inc. (a)	75,000	6,396,000
Masimo Corp. (a)(b)	1,200,000	112,512,000
Nevro Corp. (a)	1,000,000	17,320,000
Novocure Ltd. (a)	807,700	9,910,479
Outset Medical, Inc. (a)(b)	1,000,000	5,240,000
Penumbra, Inc. (a)	1,080,000	239,857,200
PROCEPT BioRobotics Corp. (a)(b)	1,180,000	43,742,600
ResMed, Inc.	240,000	37,855,200
Shockwave Medical, Inc. (a)	380,000	66,329,000
Stryker Corp.	1,250,000	370,412,500
Tandem Diabetes Care, Inc. (a)	1,450,700	29,362,168
		2,700,599,047
Health Care Supplies - 0.7%
ICU Medical, Inc. (a)	350,000	30,716,000
Lantheus Holdings, Inc. (a)	142,241	10,187,300
		40,903,300
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES		2,741,502,347
Health Care Providers & Services - 2.3%
Health Care Services - 2.3%
agilon health, Inc. (a)	3,750,000	39,825,000
Guardant Health, Inc. (a)	400,000	10,068,000
LifeStance Health Group, Inc. (a)(b)	7,008,600	48,149,082
Privia Health Group, Inc. (a)	1,400,000	28,924,000
		126,966,082
Health Care Technology - 4.1%
Health Care Technology - 4.1%
DNA Script (a)(c)(d)	1,220	324,835
DNA Script (a)(c)(d)	4,668	1,243,248
Doximity, Inc. (a)(b)	500,000	11,625,000
Evolent Health, Inc.	1,003,500	27,897,300
Evolent Health, Inc. (a)	900,000	25,020,000
Phreesia, Inc. (a)	1,900,000	29,279,000
Veeva Systems, Inc. Class A (a)	720,000	125,503,200
		220,892,583
Life Sciences Tools & Services - 37.9%
Life Sciences Tools & Services - 37.9%
10X Genomics, Inc. (a)(b)	1,871,359	81,441,544
10X Genomics, Inc. Class B (a)(e)	392,772	17,093,437
Bio-Techne Corp.	150,000	9,435,000
Bruker Corp.	1,450,000	94,380,500
Danaher Corp.	3,590,000	801,682,898
Gerresheimer AG	180,000	17,016,521
IQVIA Holdings, Inc. (a)	760,000	162,716,000
Lonza Group AG	70,000	27,098,480
Pacific Biosciences of California, Inc. (a)(b)	690,000	5,851,200
Sartorius Stedim Biotech	100,000	22,466,640
Seer, Inc. (a)	2,800,000	4,508,000
Thermo Fisher Scientific, Inc.	1,515,000	751,076,400
West Pharmaceutical Services, Inc.	190,000	66,644,400
		2,061,411,020
TOTAL COMMON STOCKS (Cost $3,385,229,206)		5,228,233,473

Convertible Preferred Stocks - 3.2%
	Shares	Value ($)
Biotechnology - 1.0%
Biotechnology - 1.0%
Asimov, Inc. Series B (a)(c)(d)	97,985	4,109,491
Caris Life Sciences, Inc. Series D (a)(c)(d)	2,803,935	9,224,946
Element Biosciences, Inc. Series B (a)(c)(d)	2,385,223	33,369,270
ElevateBio LLC Series C (a)(c)(d)	214,700	646,247
Inscripta, Inc. Series D (a)(c)(d)	3,938,731	10,122,539
		57,472,493
Financial Services - 0.3%
Specialized Finance - 0.3%
Saluda Medical, Inc. Series D (c)(d)	1,567,904	17,607,562
Health Care Equipment & Supplies - 0.2%
Health Care Supplies - 0.2%
Kardium, Inc. Series D6 (a)(c)(d)	13,783,189	12,818,366
Health Care Providers & Services - 0.3%
Health Care Services - 0.3%
Conformal Medical, Inc.:
Series C (a)(c)(d)	2,605,625	10,396,444
Series D (c)(d)	525,299	2,442,640
dMed Biopharmaceutical Co. Ltd. Series C (a)(c)(d)	309,255	1,824,605
		14,663,689
Health Care Technology - 0.8%
Health Care Technology - 0.8%
Aledade, Inc.:
Series B1 (a)(c)(d)	175,232	8,298,988
Series E1 (a)(c)(d)	58,567	2,773,733
DNA Script:
Series B (a)(c)(d)	59	16,258
Series C (a)(c)(d)	28,249	12,431,835
Omada Health, Inc. Series E (a)(c)(d)	2,182,939	8,469,803
PrognomIQ, Inc.:
Series A5 (a)(c)(d)	833,333	1,274,999
Series B (a)(c)(d)	2,735,093	6,044,556
Series C (a)(c)(d)	752,098	1,910,329
		41,220,501
Pharmaceuticals - 0.1%
Pharmaceuticals - 0.1%
Galvanize Therapeutics Series B (a)(c)(d)	3,641,139	5,061,183
Textiles, Apparel & Luxury Goods - 0.5%
Textiles - 0.5%
Freenome, Inc.:
Series C (a)(c)(d)	2,268,156	15,536,869
Series D (a)(c)(d)	1,325,855	9,585,932
		25,122,801
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $201,503,739)		173,966,595

Preferred Securities - 0.3%
	Principal Amount (f)	Value ($)
Health Care Equipment & Supplies - 0.3%
Health Care Supplies - 0.3%
Kardium, Inc. 0% (c)(d)(g) (Cost $19,551,861)	19,551,861	17,889,953

Money Market Funds - 2.2%
	Shares	Value ($)
Fidelity Cash Central Fund 5.40% (h)	25,560,640	25,565,752
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)	94,612,367	94,621,828
TOTAL MONEY MARKET FUNDS (Cost $120,187,580)		120,187,580

TOTAL INVESTMENT IN SECURITIES - 101.7% (Cost $3,726,472,386)	5,540,277,601
NET OTHER ASSETS (LIABILITIES) - (1.7)%	(93,849,204)
NET ASSETS - 100.0%	5,446,428,397

Legend

(a) Non-income producing

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

(c) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues).  At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $193,996,131 or 3.6% of net assets.

(d) Level 3 security

(e) 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 $17,093,437 or 0.3% of net assets.

(f) Amount is stated in United States dollars unless otherwise noted.

(g) Security is perpetual in nature with no stated maturity date.

(h) 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.

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

Additional information on each restricted holding is as follows:
Security	Acquisition Date	Acquisition Cost ($)
Aledade, Inc. Series B1	5/07/21	6,709,756
Aledade, Inc. Series E1	5/20/22	2,917,480
Asimov, Inc. Series B	10/29/21	9,081,318
Caris Life Sciences, Inc. Series D	5/11/21	22,711,874
Conformal Medical, Inc. Series C	7/24/20	9,554,996
Conformal Medical, Inc. Series D	5/26/23	2,668,340
dMed Biopharmaceutical Co. Ltd. Series C	12/01/20	4,392,395
DNA Script	12/17/21	4,714,776
DNA Script Series B	12/17/21	47,244
DNA Script Series C	10/01/21	24,572,393
Element Biosciences, Inc. Series B	12/13/19	12,500,000
ElevateBio LLC Series C	3/09/21	900,667
Freenome, Inc. Series C	8/14/20	14,999,996
Freenome, Inc. Series D	11/22/21	9,999,996
Galvanize Therapeutics Series B	3/29/22	6,303,849
Inscripta, Inc. Series D	11/13/20	18,000,001
Kardium, Inc. Series D6	12/30/20	14,001,515
Kardium, Inc. 0%	12/30/20	19,551,861
Omada Health, Inc. Series E	12/22/21	13,087,156
PrognomIQ, Inc. Series A5	8/20/20	503,333
PrognomIQ, Inc. Series B	9/11/20	6,249,999
PrognomIQ, Inc. Series C	2/16/22	2,301,420
Saluda Medical, Inc. warrants 1/20/27	1/20/22	0
Saluda Medical, Inc. Series D	1/20/22	20,000,011

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 5.40%	12,569,252	904,586,420	891,589,920	849,489	-	-	25,565,752	0.1%
Fidelity Securities Lending Cash Central Fund 5.39%	104,979,490	1,045,226,951	1,055,584,613	229,818	-	-	94,621,828	0.4%
Total	117,548,742	1,949,813,371	1,947,174,533	1,079,307	-	-	120,187,580

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amounts in the dividend income column 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.

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.

Affiliate	Value, beginning of period ($)	Purchases ($)	Sales Proceeds ($)	Dividend Income ($)	Realized Gain (loss) ($)	Change in Unrealized appreciation (depreciation) ($)	Value, end of period ($)
Nevro Corp.	62,880,000	3,049,788	29,080,318	-	(46,817,463)	27,287,993	-
Total	62,880,000	3,049,788	29,080,318	-	(46,817,463)	27,287,993	-

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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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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