Quarterly Holdings Report

for

Fidelity® Select Portfolios®

Insurance Portfolio

November 30, 2023

PRC-NPRT3-0124

1.810674.119

Common Stocks - 98.9%
	Shares	Value ($)
Financial Services - 4.3%
Diversified Financial Services - 4.3%
Corebridge Financial, Inc.	700,700	14,735,721
Voya Financial, Inc.	66,600	4,762,566
		19,498,287
Insurance - 94.6%
Insurance Brokers - 25.8%
Arthur J. Gallagher & Co.	126,200	31,423,800
Brown & Brown, Inc.	181,600	13,572,784
BRP Group, Inc. (a)	663,100	11,597,619
Marsh & McLennan Companies, Inc.	256,000	51,051,520
Steadfast Group Ltd.	2,565,516	9,560,729
		117,206,452
Life & Health Insurance - 16.0%
Globe Life, Inc.	162,400	19,996,312
MetLife, Inc.	180,400	11,478,852
Primerica, Inc.	58,500	12,256,335
Principal Financial Group, Inc.	120,500	8,896,515
Unum Group	459,600	19,762,800
		72,390,814
Property & Casualty Insurance - 48.7%
Allstate Corp.	152,100	20,970,027
American Financial Group, Inc.	157,000	17,959,230
Arch Capital Group Ltd. (a)	231,800	19,399,342
Chubb Ltd.	192,905	44,258,194
Direct Line Insurance Group PLC (a)	1,878,800	4,471,015
First American Financial Corp.	76,200	4,541,520
Hanover Insurance Group, Inc.	81,200	10,093,160
Hartford Financial Services Group, Inc.	447,400	34,968,784
Markel Group, Inc. (a)	3,220	4,633,870
Mercury General Corp.	200	7,450
Progressive Corp.	119,800	19,650,794
Selective Insurance Group, Inc.	41,800	4,250,642
The Travelers Companies, Inc.	199,100	35,961,442
		221,165,470
Reinsurance - 4.1%
Reinsurance Group of America, Inc.	113,700	18,539,922
TOTAL INSURANCE		429,302,658
TOTAL COMMON STOCKS (Cost $328,563,463)		448,800,945

Money Market Funds - 1.4%
	Shares	Value ($)
Fidelity Cash Central Fund 5.40% (b) (Cost $6,297,938)	6,296,679	6,297,938

TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $334,861,401)	455,098,883
NET OTHER ASSETS (LIABILITIES) - (0.3)%	(1,452,053)
NET ASSETS - 100.0%	453,646,830

Legend

(a) Non-income producing

(b) 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.

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%	4,180,255	95,927,460	93,809,777	75,386	-	-	6,297,938	0.0%
Fidelity Securities Lending Cash Central Fund 5.39%	3,211,000	33,809,749	37,020,749	1,578	-	-	-	0.0%
Total	7,391,255	129,737,209	130,830,526	76,964	-	-	6,297,938

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.

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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