Fidelity® Select Industrials Portfolio 

This portfolio chiefly allocates its capital to common shares. A substantial portion, specifically at least 80% of its assets, is typically concentrated in enterprises whose core business revolves around the industrial sector, whether through the invention, production, marketing, supply, or distribution of industrial goods, services, or machinery. The fund's holdings encompass both U.S.-based and foreign entities. Investment selection is driven by comprehensive fundamental analysis, assessing elements such as an issuer's financial stability, its competitive standing, and the prevailing economic and market environment. Notably, this fund operates as a non-diversified investment vehicle.