0000320351 fmr:C000020459Member 2024-02-28 2025-02-28 0000320351 fmr:C000020459_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020459_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020459_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020459_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020459_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020459_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020459_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020459_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020459_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020459Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020459Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020459Member 2025-02-28 0000320351 fmr:C000020459Member country:US 2025-02-28 0000320351 fmr:C000020459Member country:BE 2025-02-28 0000320351 fmr:C000020459Member country:PR 2025-02-28 0000320351 fmr:C000020459Member country:GB 2025-02-28 0000320351 fmr:C000020459Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020459Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020455Member 2024-02-28 2025-02-28 0000320351 fmr:C000020455_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020455_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020455_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020455_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020455_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020455_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020455_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020455_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020455_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020455Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020455Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020455Member 2025-02-28 0000320351 fmr:AABondsMember fmr:C000020455Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020455Member 2025-02-28 0000320351 fmr:C000020455Member country:US 2025-02-28 0000320351 fmr:C000020455Member country:DK 2025-02-28 0000320351 fmr:C000020455Member country:GB 2025-02-28 0000320351 fmr:C000020455Member country:BE 2025-02-28 0000320351 fmr:C000020455Member country:DE 2025-02-28 0000320351 fmr:C000020455Member country:CA 2025-02-28 0000320351 fmr:C000020455Member country:NL 2025-02-28 0000320351 fmr:C000020455Member country:IE 2025-02-28 0000320351 fmr:C000020455Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020455Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020461Member 2024-02-28 2025-02-28 0000320351 fmr:C000020461_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020461_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020461_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020461_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020461_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020461_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020461_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020461_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020461_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020461Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020461Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020461Member 2025-02-28 0000320351 fmr:C000020461Member country:US 2025-02-28 0000320351 fmr:C000020461Member country:PA 2025-02-28 0000320351 fmr:C000020461Member country:IT 2025-02-28 0000320351 fmr:C000020461Member country:CA 2025-02-28 0000320351 fmr:C000020461Member country:BR 2025-02-28 0000320351 fmr:C000020461Member country:MC 2025-02-28 0000320351 fmr:C000020461Member country:GR 2025-02-28 0000320351 fmr:C000020461Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020461Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020465Member 2024-02-28 2025-02-28 0000320351 fmr:C000020465_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020465_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020465_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020465_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020465_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020465_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020465_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020465_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020465_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020465Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020465Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020465Member 2025-02-28 0000320351 fmr:C000020465Member country:US 2025-02-28 0000320351 fmr:C000020465Member country:IE 2025-02-28 0000320351 fmr:C000020465Member country:IL 2025-02-28 0000320351 fmr:C000020465Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020465Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020428Member 2024-02-28 2025-02-28 0000320351 fmr:C000020428_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020428_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020428_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020428_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020428_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020428_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020428_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020428_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020428_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020428Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TI8Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020428Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020428Member 2025-02-28 0000320351 fmr:C000020428Member country:US 2025-02-28 0000320351 fmr:C000020428Member country:CA 2025-02-28 0000320351 fmr:C000020428Member fmr:BailiwickOfJerseyMember 2025-02-28 0000320351 fmr:C000020428Member country:BR 2025-02-28 0000320351 fmr:C000020428Member country:GB 2025-02-28 0000320351 fmr:C000020428Member country:FR 2025-02-28 0000320351 fmr:C000020428Member country:CH 2025-02-28 0000320351 fmr:C000020428Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020428Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020444Member 2024-02-28 2025-02-28 0000320351 fmr:C000020444_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020444_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020444_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020444_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020444_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020444_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020444_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020444_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020444_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020444Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020444Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020444Member 2025-02-28 0000320351 fmr:C000020444Member country:US 2025-02-28 0000320351 fmr:C000020444Member country:AU 2025-02-28 0000320351 fmr:C000020444Member country:GB 2025-02-28 0000320351 fmr:C000020444Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020444Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000205043Member 2024-02-28 2025-02-28 0000320351 fmr:C000205043_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205043_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205043_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205043_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205043_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205043_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205043_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205043_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205043_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205043Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205043Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000205043Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205043Member 2025-02-28 0000320351 fmr:C000205043Member country:CA 2025-02-28 0000320351 fmr:C000205043Member country:US 2025-02-28 0000320351 fmr:C000205043Member country:BR 2025-02-28 0000320351 fmr:C000205043Member country:AU 2025-02-28 0000320351 fmr:C000205043Member country:GB 2025-02-28 0000320351 fmr:C000205043Member country:ZA 2025-02-28 0000320351 fmr:C000205043Member country:CN 2025-02-28 0000320351 fmr:C000205043Member country:BF 2025-02-28 0000320351 fmr:C000205043Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000205043Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020452Member 2024-02-28 2025-02-28 0000320351 fmr:C000020452_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020452_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020452_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020452_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020452_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020452_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020452_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020452_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020452_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020452Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020452Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020452Member 2025-02-28 0000320351 fmr:C000020452Member country:US 2025-02-28 0000320351 fmr:C000020452Member country:CA 2025-02-28 0000320351 fmr:C000020452Member country:PT 2025-02-28 0000320351 fmr:C000020452Member country:BR 2025-02-28 0000320351 fmr:C000020452Member country:ZM 2025-02-28 0000320351 fmr:C000020452Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000020452Member country:NO 2025-02-28 0000320351 fmr:C000020452Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020452Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020462Member 2024-02-28 2025-02-28 0000320351 fmr:C000020462_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020462_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020462_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020462_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020462_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020462_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020462_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020462_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020462_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020462Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020462Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020462Member 2025-02-28 0000320351 fmr:C000020462Member country:US 2025-02-28 0000320351 fmr:C000020462Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020462Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020464Member 2024-02-28 2025-02-28 0000320351 fmr:C000020464_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020464_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020464_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020464_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020464_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020464_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020464_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020464_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020464_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020464Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020464Member 2025-02-28 0000320351 fmr:C000020464Member country:US 2025-02-28 0000320351 fmr:C000020464Member country:CA 2025-02-28 0000320351 fmr:C000020464Member country:GB 2025-02-28 0000320351 fmr:C000020464Member fmr:GrandCaymanUKOverseasTerMember 2025-02-28 0000320351 fmr:C000020464Member country:LU 2025-02-28 0000320351 fmr:C000020464Member country:SE 2025-02-28 0000320351 fmr:C000020464Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020464Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000206307Member 2024-02-28 2025-02-28 0000320351 fmr:C000206307_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206307_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206307_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206307_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206307_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206307_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206307_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206307_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206307_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206307Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206307Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206307Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206307Member 2025-02-28 0000320351 fmr:C000206307Member country:US 2025-02-28 0000320351 fmr:C000206307Member country:CN 2025-02-28 0000320351 fmr:C000206307Member country:SG 2025-02-28 0000320351 fmr:C000206307Member country:JP 2025-02-28 0000320351 fmr:C000206307Member country:TW 2025-02-28 0000320351 fmr:C000206307Member country:GB 2025-02-28 0000320351 fmr:C000206307Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000206307Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040616Member 2024-02-28 2025-02-28 0000320351 fmr:C000040616_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040616_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040616_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040616_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040616_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040616_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040616_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040616_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040616_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040616_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040616_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040616_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040616Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040616Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040616Member 2025-02-28 0000320351 fmr:C000040616Member country:US 2025-02-28 0000320351 fmr:C000040616Member country:GB 2025-02-28 0000320351 fmr:C000040616Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040616Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020429Member 2024-02-28 2025-02-28 0000320351 fmr:C000020429_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020429_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020429_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020429_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020429_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020429_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020429_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020429_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020429_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020429_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020429_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020429_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020429_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020429_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020429_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020429Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020429Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020429Member 2025-02-28 0000320351 fmr:C000020429Member country:US 2025-02-28 0000320351 fmr:C000020429Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020429Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040618Member 2024-02-28 2025-02-28 0000320351 fmr:C000040618_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040618_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040618_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040618_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040618_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040618_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040618_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040618_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040618_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040618_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040618_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040618_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040618Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040618Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040618Member 2025-02-28 0000320351 fmr:C000040618Member country:US 2025-02-28 0000320351 fmr:C000040618Member country:GB 2025-02-28 0000320351 fmr:C000040618Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040618Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020435Member 2024-02-28 2025-02-28 0000320351 fmr:C000020435_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020435_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020435_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020435_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020435_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020435_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020435_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020435_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020435_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020435Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020435Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020435Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020435Member 2025-02-28 0000320351 fmr:C000020435Member country:US 2025-02-28 0000320351 fmr:C000020435Member country:CN 2025-02-28 0000320351 fmr:C000020435Member country:DE 2025-02-28 0000320351 fmr:C000020435Member country:JP 2025-02-28 0000320351 fmr:C000020435Member country:CA 2025-02-28 0000320351 fmr:C000020435Member fmr:BailiwickOfJerseyMember 2025-02-28 0000320351 fmr:C000020435Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020435Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020437Member 2024-02-28 2025-02-28 0000320351 fmr:C000020437_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020437_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020437_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020437_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020437_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020437_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020437_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020437_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020437_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020437Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020437Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020437Member 2025-02-28 0000320351 fmr:C000020437Member country:US 2025-02-28 0000320351 fmr:C000020437Member country:GB 2025-02-28 0000320351 fmr:C000020437Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020437Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020463Member 2024-02-28 2025-02-28 0000320351 fmr:C000020463_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020463_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020463_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020463_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020463_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020463_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020463_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020463_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020463_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020463Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020463Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020463Member 2025-02-28 0000320351 fmr:C000020463Member country:US 2025-02-28 0000320351 fmr:C000020463Member country:CA 2025-02-28 0000320351 fmr:C000020463Member country:CN 2025-02-28 0000320351 fmr:C000020463Member country:ES 2025-02-28 0000320351 fmr:C000020463Member country:FI 2025-02-28 0000320351 fmr:C000020463Member country:GB 2025-02-28 0000320351 fmr:C000020463Member country:KR 2025-02-28 0000320351 fmr:C000020463Member country:SG 2025-02-28 0000320351 fmr:C000020463Member country:IN 2025-02-28 0000320351 fmr:C000020463Member fmr:OtherMember 2025-02-28 0000320351 fmr:C000020463Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020463Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020449Member 2024-02-28 2025-02-28 0000320351 fmr:C000020449_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020449_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020449_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020449_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020449_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020449_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020449_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020449_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020449_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020449Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TI3Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020449Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020449Member 2025-02-28 0000320351 fmr:C000020449Member country:US 2025-02-28 0000320351 fmr:C000020449Member country:PR 2025-02-28 0000320351 fmr:C000020449Member country:CY 2025-02-28 0000320351 fmr:C000020449Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020449Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020430Member 2024-02-28 2025-02-28 0000320351 fmr:C000020430_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020430_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020430_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020430_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020430_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020430_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020430_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020430_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020430_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020430Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TI3Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020430Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020430Member 2025-02-28 0000320351 fmr:C000020430Member country:US 2025-02-28 0000320351 fmr:C000020430Member country:GB 2025-02-28 0000320351 fmr:C000020430Member country:CA 2025-02-28 0000320351 fmr:C000020430Member country:DE 2025-02-28 0000320351 fmr:C000020430Member country:FR 2025-02-28 0000320351 fmr:C000020430Member country:BR 2025-02-28 0000320351 fmr:C000020430Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020430Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040626Member 2024-02-28 2025-02-28 0000320351 fmr:C000040626_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040626_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040626_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040626_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040626_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040626_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040626_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040626_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040626_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040626_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040626_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040626_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040626Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040626Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040626Member 2025-02-28 0000320351 fmr:C000040626Member country:US 2025-02-28 0000320351 fmr:C000040626Member country:CA 2025-02-28 0000320351 fmr:C000040626Member country:BR 2025-02-28 0000320351 fmr:C000040626Member country:ZM 2025-02-28 0000320351 fmr:C000040626Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000040626Member country:DE 2025-02-28 0000320351 fmr:C000040626Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040626Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020467Member 2024-02-28 2025-02-28 0000320351 fmr:C000020467_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020467_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020467_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020467_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020467_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020467_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020467_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020467_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020467_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020467Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TI7Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020467Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020467Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020467Member 2025-02-28 0000320351 fmr:C000020467Member country:US 2025-02-28 0000320351 fmr:C000020467Member country:JP 2025-02-28 0000320351 fmr:C000020467Member country:KR 2025-02-28 0000320351 fmr:C000020467Member country:CN 2025-02-28 0000320351 fmr:C000020467Member country:TW 2025-02-28 0000320351 fmr:C000020467Member country:FI 2025-02-28 0000320351 fmr:C000020467Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020467Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040625Member 2024-02-28 2025-02-28 0000320351 fmr:C000040625_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040625_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040625_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040625_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040625_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040625_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040625_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040625_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040625_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040625_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040625_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040625_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040625Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040625Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040625Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040625Member 2025-02-28 0000320351 fmr:C000040625Member country:CA 2025-02-28 0000320351 fmr:C000040625Member country:US 2025-02-28 0000320351 fmr:C000040625Member country:BR 2025-02-28 0000320351 fmr:C000040625Member country:AU 2025-02-28 0000320351 fmr:C000040625Member country:GB 2025-02-28 0000320351 fmr:C000040625Member country:ZA 2025-02-28 0000320351 fmr:C000040625Member country:CN 2025-02-28 0000320351 fmr:C000040625Member country:BF 2025-02-28 0000320351 fmr:C000040625Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040625Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020446Member 2024-02-28 2025-02-28 0000320351 fmr:C000020446_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020446_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020446_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020446_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020446_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020446_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020446_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020446_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020446_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020446Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TI2Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020446Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020446Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020446Member 2025-02-28 0000320351 fmr:C000020446Member country:US 2025-02-28 0000320351 fmr:C000020446Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020446Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040621Member 2024-02-28 2025-02-28 0000320351 fmr:C000040621_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040621_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040621_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040621_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040621_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040621_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040621_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040621_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040621_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040621Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040621Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040621Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040621Member 2025-02-28 0000320351 fmr:C000040621Member country:CA 2025-02-28 0000320351 fmr:C000040621Member country:US 2025-02-28 0000320351 fmr:C000040621Member country:BR 2025-02-28 0000320351 fmr:C000040621Member country:AU 2025-02-28 0000320351 fmr:C000040621Member country:GB 2025-02-28 0000320351 fmr:C000040621Member country:ZA 2025-02-28 0000320351 fmr:C000040621Member country:CN 2025-02-28 0000320351 fmr:C000040621Member country:BF 2025-02-28 0000320351 fmr:C000040621Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040621Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040620Member 2024-02-28 2025-02-28 0000320351 fmr:C000040620_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040620_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040620_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040620_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040620_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040620_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040620_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040620_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040620_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040620Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040620Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040620Member 2025-02-28 0000320351 fmr:C000040620Member country:US 2025-02-28 0000320351 fmr:C000040620Member country:GB 2025-02-28 0000320351 fmr:C000040620Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040620Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000206310Member 2024-02-28 2025-02-28 0000320351 fmr:C000206310_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206310_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206310_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206310_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206310_ClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206310_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206310_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206310_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206310Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206310Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206310Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206310Member 2025-02-28 0000320351 fmr:C000206310Member country:US 2025-02-28 0000320351 fmr:C000206310Member country:CN 2025-02-28 0000320351 fmr:C000206310Member country:SG 2025-02-28 0000320351 fmr:C000206310Member country:JP 2025-02-28 0000320351 fmr:C000206310Member country:TW 2025-02-28 0000320351 fmr:C000206310Member country:GB 2025-02-28 0000320351 fmr:C000206310Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000206310Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040629Member 2024-02-28 2025-02-28 0000320351 fmr:C000040629_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040629_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040629_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040629_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040629_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040629_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040629_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040629_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040629_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040629_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040629_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040629_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040629Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040629Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040629Member 2025-02-28 0000320351 fmr:C000040629Member country:US 2025-02-28 0000320351 fmr:C000040629Member country:CA 2025-02-28 0000320351 fmr:C000040629Member country:BR 2025-02-28 0000320351 fmr:C000040629Member country:ZM 2025-02-28 0000320351 fmr:C000040629Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000040629Member country:DE 2025-02-28 0000320351 fmr:C000040629Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040629Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040624Member 2024-02-28 2025-02-28 0000320351 fmr:C000040624_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040624_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040624_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040624_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040624_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040624_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040624_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040624_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040624_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040624_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040624_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040624_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040624Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040624Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040624Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040624Member 2025-02-28 0000320351 fmr:C000040624Member country:CA 2025-02-28 0000320351 fmr:C000040624Member country:US 2025-02-28 0000320351 fmr:C000040624Member country:BR 2025-02-28 0000320351 fmr:C000040624Member country:AU 2025-02-28 0000320351 fmr:C000040624Member country:GB 2025-02-28 0000320351 fmr:C000040624Member country:ZA 2025-02-28 0000320351 fmr:C000040624Member country:CN 2025-02-28 0000320351 fmr:C000040624Member country:BF 2025-02-28 0000320351 fmr:C000040624Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040624Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020447Member 2024-02-28 2025-02-28 0000320351 fmr:C000020447_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020447_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020447_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020447_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020447_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020447_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020447_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020447_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020447_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020447Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TI7Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020447Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020447Member 2025-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000020447Member 2025-02-28 0000320351 fmr:AABondsMember fmr:C000020447Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020447Member 2025-02-28 0000320351 fmr:C000020447Member country:US 2025-02-28 0000320351 fmr:C000020447Member country:CA 2025-02-28 0000320351 fmr:C000020447Member country:FR 2025-02-28 0000320351 fmr:C000020447Member country:JP 2025-02-28 0000320351 fmr:C000020447Member country:CN 2025-02-28 0000320351 fmr:C000020447Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020447Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000206309Member 2024-02-28 2025-02-28 0000320351 fmr:C000206309_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206309_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206309_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206309_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206309_ClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206309_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206309_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206309_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206309Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206309Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206309Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206309Member 2025-02-28 0000320351 fmr:C000206309Member country:US 2025-02-28 0000320351 fmr:C000206309Member country:CN 2025-02-28 0000320351 fmr:C000206309Member country:SG 2025-02-28 0000320351 fmr:C000206309Member country:JP 2025-02-28 0000320351 fmr:C000206309Member country:TW 2025-02-28 0000320351 fmr:C000206309Member country:GB 2025-02-28 0000320351 fmr:C000206309Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000206309Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020440Member 2024-02-28 2025-02-28 0000320351 fmr:C000020440_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020440_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020440_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020440_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020440_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020440_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020440_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020440_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020440_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020440Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TI6Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020440Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020440Member 2025-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000020440Member 2025-02-28 0000320351 fmr:AABondsMember fmr:C000020440Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020440Member 2025-02-28 0000320351 fmr:C000020440Member country:US 2025-02-28 0000320351 fmr:C000020440Member country:NL 2025-02-28 0000320351 fmr:C000020440Member country:BE 2025-02-28 0000320351 fmr:C000020440Member country:DK 2025-02-28 0000320351 fmr:C000020440Member country:CA 2025-02-28 0000320351 fmr:C000020440Member country:CN 2025-02-28 0000320351 fmr:C000020440Member country:GB 2025-02-28 0000320351 fmr:C000020440Member country:IL 2025-02-28 0000320351 fmr:C000020440Member country:DE 2025-02-28 0000320351 fmr:C000020440Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020440Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000205045Member 2024-02-28 2025-02-28 0000320351 fmr:C000205045_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205045_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205045_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205045_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205045_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205045_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205045_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205045_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205045_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205045Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205045Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205045Member 2025-02-28 0000320351 fmr:C000205045Member country:US 2025-02-28 0000320351 fmr:C000205045Member country:BE 2025-02-28 0000320351 fmr:C000205045Member country:PR 2025-02-28 0000320351 fmr:C000205045Member country:GB 2025-02-28 0000320351 fmr:C000205045Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000205045Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020468Member 2024-02-28 2025-02-28 0000320351 fmr:C000020468_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020468_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020468_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020468_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020468_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020468_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020468_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020468_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020468_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020468Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020468Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020468Member 2025-02-28 0000320351 fmr:C000020468Member country:US 2025-02-28 0000320351 fmr:C000020468Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020468Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040634Member 2024-02-28 2025-02-28 0000320351 fmr:C000040634_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040634_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040634_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040634_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040634_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040634_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040634_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040634_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040634_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040634_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040634_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040634_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040634Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040634Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040634Member 2025-02-28 0000320351 fmr:C000040634Member country:US 2025-02-28 0000320351 fmr:C000040634Member country:BE 2025-02-28 0000320351 fmr:C000040634Member country:PR 2025-02-28 0000320351 fmr:C000040634Member country:GB 2025-02-28 0000320351 fmr:C000040634Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040634Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000206308Member 2024-02-28 2025-02-28 0000320351 fmr:C000206308_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206308_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206308_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206308_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206308_ClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206308_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206308_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206308_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206308Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206308Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206308Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206308Member 2025-02-28 0000320351 fmr:C000206308Member country:US 2025-02-28 0000320351 fmr:C000206308Member country:CN 2025-02-28 0000320351 fmr:C000206308Member country:SG 2025-02-28 0000320351 fmr:C000206308Member country:JP 2025-02-28 0000320351 fmr:C000206308Member country:TW 2025-02-28 0000320351 fmr:C000206308Member country:GB 2025-02-28 0000320351 fmr:C000206308Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000206308Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020445Member 2024-02-28 2025-02-28 0000320351 fmr:C000020445_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020445_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020445_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020445_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020445_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020445_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020445_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020445_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020445_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020445Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TI3Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020445Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020445Member 2025-02-28 0000320351 fmr:C000020445Member country:US 2025-02-28 0000320351 fmr:C000020445Member country:CA 2025-02-28 0000320351 fmr:C000020445Member country:GB 2025-02-28 0000320351 fmr:C000020445Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020445Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020460Member 2024-02-28 2025-02-28 0000320351 fmr:C000020460_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020460_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020460_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020460_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020460_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020460_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020460_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020460_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020460_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020460Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TI6Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020460Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020460Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020460Member 2025-02-28 0000320351 fmr:C000020460Member country:US 2025-02-28 0000320351 fmr:C000020460Member country:DK 2025-02-28 0000320351 fmr:C000020460Member country:NL 2025-02-28 0000320351 fmr:C000020460Member country:BE 2025-02-28 0000320351 fmr:C000020460Member country:CH 2025-02-28 0000320351 fmr:C000020460Member country:GB 2025-02-28 0000320351 fmr:C000020460Member country:CA 2025-02-28 0000320351 fmr:C000020460Member country:DE 2025-02-28 0000320351 fmr:C000020460Member country:IE 2025-02-28 0000320351 fmr:C000020460Member fmr:OtherMember 2025-02-28 0000320351 fmr:C000020460Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020460Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020458Member 2024-02-28 2025-02-28 0000320351 fmr:C000020458_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020458_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020458_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020458_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020458_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020458_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020458_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020458_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020458_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020458Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020458Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020458Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020458Member 2025-02-28 0000320351 fmr:C000020458Member country:US 2025-02-28 0000320351 fmr:C000020458Member country:CN 2025-02-28 0000320351 fmr:C000020458Member country:CA 2025-02-28 0000320351 fmr:C000020458Member country:TW 2025-02-28 0000320351 fmr:C000020458Member country:NL 2025-02-28 0000320351 fmr:C000020458Member country:GB 2025-02-28 0000320351 fmr:C000020458Member country:EE 2025-02-28 0000320351 fmr:C000020458Member country:IL 2025-02-28 0000320351 fmr:C000020458Member country:KR 2025-02-28 0000320351 fmr:C000020458Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020458Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020457Member 2024-02-28 2025-02-28 0000320351 fmr:C000020457_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020457_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020457_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020457_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020457_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020457_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020457_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020457_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020457_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020457Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020457Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020457Member 2025-02-28 0000320351 fmr:C000020457Member country:US 2025-02-28 0000320351 fmr:C000020457Member country:IE 2025-02-28 0000320351 fmr:C000020457Member country:FR 2025-02-28 0000320351 fmr:C000020457Member country:CA 2025-02-28 0000320351 fmr:C000020457Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020457Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000206306Member 2024-02-28 2025-02-28 0000320351 fmr:C000206306_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206306_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206306_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000206306_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206306_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206306_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206306_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000206306_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000206306_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000206306Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206306Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206306Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206306Member 2025-02-28 0000320351 fmr:C000206306Member country:US 2025-02-28 0000320351 fmr:C000206306Member country:CN 2025-02-28 0000320351 fmr:C000206306Member country:SG 2025-02-28 0000320351 fmr:C000206306Member country:JP 2025-02-28 0000320351 fmr:C000206306Member country:TW 2025-02-28 0000320351 fmr:C000206306Member country:GB 2025-02-28 0000320351 fmr:C000206306Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000206306Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020443Member 2024-02-28 2025-02-28 0000320351 fmr:C000020443_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020443_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020443_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020443_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020443_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020443_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020443_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020443_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020443_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020443Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020443Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020443Member 2025-02-28 0000320351 fmr:C000020443Member country:US 2025-02-28 0000320351 fmr:C000020443Member country:CA 2025-02-28 0000320351 fmr:C000020443Member country:BR 2025-02-28 0000320351 fmr:C000020443Member country:ZM 2025-02-28 0000320351 fmr:C000020443Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000020443Member country:DE 2025-02-28 0000320351 fmr:C000020443Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020443Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020439Member 2024-02-28 2025-02-28 0000320351 fmr:C000020439_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020439_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020439_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020439_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020439_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020439_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020439_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020439_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020439_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020439Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020439Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000020439Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020439Member 2025-02-28 0000320351 fmr:C000020439Member country:CA 2025-02-28 0000320351 fmr:C000020439Member country:US 2025-02-28 0000320351 fmr:C000020439Member country:BR 2025-02-28 0000320351 fmr:C000020439Member country:AU 2025-02-28 0000320351 fmr:C000020439Member country:GB 2025-02-28 0000320351 fmr:C000020439Member country:ZA 2025-02-28 0000320351 fmr:C000020439Member country:CN 2025-02-28 0000320351 fmr:C000020439Member country:BF 2025-02-28 0000320351 fmr:C000020439Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020439Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040630Member 2024-02-28 2025-02-28 0000320351 fmr:C000040630_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040630_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040630_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040630_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040630_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040630_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040630_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040630_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040630_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040630Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040630Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040630Member 2025-02-28 0000320351 fmr:C000040630Member country:US 2025-02-28 0000320351 fmr:C000040630Member country:CA 2025-02-28 0000320351 fmr:C000040630Member country:BR 2025-02-28 0000320351 fmr:C000040630Member country:ZM 2025-02-28 0000320351 fmr:C000040630Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000040630Member country:DE 2025-02-28 0000320351 fmr:C000040630Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040630Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040628Member 2024-02-28 2025-02-28 0000320351 fmr:C000040628_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040628_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040628_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040628_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040628_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040628_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040628_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040628_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040628_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040628_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040628_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040628_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040628Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040628Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040628Member 2025-02-28 0000320351 fmr:C000040628Member country:US 2025-02-28 0000320351 fmr:C000040628Member country:CA 2025-02-28 0000320351 fmr:C000040628Member country:BR 2025-02-28 0000320351 fmr:C000040628Member country:ZM 2025-02-28 0000320351 fmr:C000040628Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000040628Member country:DE 2025-02-28 0000320351 fmr:C000040628Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040628Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040633Member 2024-02-28 2025-02-28 0000320351 fmr:C000040633_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040633_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040633_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040633_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040633_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040633_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040633_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040633_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040633_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040633_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040633_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040633_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040633Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040633Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040633Member 2025-02-28 0000320351 fmr:C000040633Member country:US 2025-02-28 0000320351 fmr:C000040633Member country:BE 2025-02-28 0000320351 fmr:C000040633Member country:PR 2025-02-28 0000320351 fmr:C000040633Member country:GB 2025-02-28 0000320351 fmr:C000040633Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040633Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020432Member 2024-02-28 2025-02-28 0000320351 fmr:C000020432_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020432_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020432_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020432_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020432_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020432_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020432_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020432_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020432_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020432Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TI7Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020432Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020432Member 2025-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000020432Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020432Member 2025-02-28 0000320351 fmr:C000020432Member country:US 2025-02-28 0000320351 fmr:C000020432Member country:TW 2025-02-28 0000320351 fmr:C000020432Member country:CN 2025-02-28 0000320351 fmr:C000020432Member country:NL 2025-02-28 0000320351 fmr:C000020432Member country:IL 2025-02-28 0000320351 fmr:C000020432Member country:JP 2025-02-28 0000320351 fmr:C000020432Member country:CA 2025-02-28 0000320351 fmr:C000020432Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020432Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040631Member 2024-02-28 2025-02-28 0000320351 fmr:C000040631_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040631_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040631_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040631_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040631_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040631_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040631_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040631_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040631_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040631_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040631_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040631_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040631Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040631Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040631Member 2025-02-28 0000320351 fmr:C000040631Member country:US 2025-02-28 0000320351 fmr:C000040631Member country:BE 2025-02-28 0000320351 fmr:C000040631Member country:PR 2025-02-28 0000320351 fmr:C000040631Member country:GB 2025-02-28 0000320351 fmr:C000040631Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040631Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000205044Member 2024-02-28 2025-02-28 0000320351 fmr:C000205044_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205044_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205044_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205044_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205044_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205044_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205044_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205044_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205044_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205044Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205044Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205044Member 2025-02-28 0000320351 fmr:C000205044Member country:US 2025-02-28 0000320351 fmr:C000205044Member country:CA 2025-02-28 0000320351 fmr:C000205044Member country:BR 2025-02-28 0000320351 fmr:C000205044Member country:ZM 2025-02-28 0000320351 fmr:C000205044Member fmr:CongoDemocraticRepublicOfMember 2025-02-28 0000320351 fmr:C000205044Member country:DE 2025-02-28 0000320351 fmr:C000205044Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000205044Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020466Member 2024-02-28 2025-02-28 0000320351 fmr:C000020466_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020466_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020466_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020466_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020466_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020466_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020466_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020466_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020466_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020466Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TI0Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020466Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020466Member 2025-02-28 0000320351 fmr:C000020466Member country:US 2025-02-28 0000320351 fmr:C000020466Member country:DE 2025-02-28 0000320351 fmr:C000020466Member country:AR 2025-02-28 0000320351 fmr:C000020466Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020466Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020456Member 2024-02-28 2025-02-28 0000320351 fmr:C000020456_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020456_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020456_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020456_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020456_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020456_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020456_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020456_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020456_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020456Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TI6Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020456Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020456Member 2025-02-28 0000320351 fmr:C000020456Member country:US 2025-02-28 0000320351 fmr:C000020456Member country:BR 2025-02-28 0000320351 fmr:C000020456Member country:CA 2025-02-28 0000320351 fmr:C000020456Member country:IT 2025-02-28 0000320351 fmr:C000020456Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020456Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020438Member 2024-02-28 2025-02-28 0000320351 fmr:C000020438_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020438_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020438_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020438_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020438_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020438_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020438_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020438_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020438_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020438Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TI7Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020438Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020438Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020438Member 2025-02-28 0000320351 fmr:C000020438Member country:US 2025-02-28 0000320351 fmr:C000020438Member country:JP 2025-02-28 0000320351 fmr:C000020438Member country:CN 2025-02-28 0000320351 fmr:C000020438Member country:IT 2025-02-28 0000320351 fmr:C000020438Member fmr:BailiwickOfJerseyMember 2025-02-28 0000320351 fmr:C000020438Member country:CA 2025-02-28 0000320351 fmr:C000020438Member country:SE 2025-02-28 0000320351 fmr:C000020438Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020438Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000205042Member 2024-02-28 2025-02-28 0000320351 fmr:C000205042_LG_ClassMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205042_LG_1_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205042_LG_2_AdditionalIndexMember_8YRMember 2017-02-28 2025-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000205042_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205042_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205042_NoLoadClassMember_2024-03-01_2025-02-28Member 2024-02-28 2025-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205042_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000205042_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000205042_1_BBIndexMember_LOCMember 2024-02-28 2025-02-28 0000320351 fmr:C000205042Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205042Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205042Member 2025-02-28 0000320351 fmr:C000205042Member country:US 2025-02-28 0000320351 fmr:C000205042Member country:GB 2025-02-28 0000320351 fmr:C000205042Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000205042Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020450Member 2024-02-28 2025-02-28 0000320351 fmr:C000020450_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020450_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020450_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020450_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020450_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020450_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020450_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020450_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020450_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020450Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI5Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI6Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI7Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI8Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TI9Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020450Member 2025-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020450Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020450Member 2025-02-28 0000320351 fmr:C000020450Member country:US 2025-02-28 0000320351 fmr:C000020450Member country:CN 2025-02-28 0000320351 fmr:C000020450Member country:SG 2025-02-28 0000320351 fmr:C000020450Member country:JP 2025-02-28 0000320351 fmr:C000020450Member country:TW 2025-02-28 0000320351 fmr:C000020450Member country:GB 2025-02-28 0000320351 fmr:C000020450Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020450Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040619Member 2024-02-28 2025-02-28 0000320351 fmr:C000040619_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040619_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040619_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040619_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040619_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040619_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040619_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040619_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040619_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040619_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040619_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040619_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040619Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040619Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040619Member 2025-02-28 0000320351 fmr:C000040619Member country:US 2025-02-28 0000320351 fmr:C000040619Member country:GB 2025-02-28 0000320351 fmr:C000040619Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040619Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040622Member 2024-02-28 2025-02-28 0000320351 fmr:C000040622_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040622_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040622_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040622_ClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040622_ClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040622_ClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040622_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040622_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040622_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040622_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040622_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040622_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040622Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TI1Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040622Member 2025-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040622Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040622Member 2025-02-28 0000320351 fmr:C000040622Member country:CA 2025-02-28 0000320351 fmr:C000040622Member country:US 2025-02-28 0000320351 fmr:C000040622Member country:BR 2025-02-28 0000320351 fmr:C000040622Member country:AU 2025-02-28 0000320351 fmr:C000040622Member country:GB 2025-02-28 0000320351 fmr:C000040622Member country:ZA 2025-02-28 0000320351 fmr:C000040622Member country:CN 2025-02-28 0000320351 fmr:C000040622Member country:BF 2025-02-28 0000320351 fmr:C000040622Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040622Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020436Member 2024-02-28 2025-02-28 0000320351 fmr:C000020436_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020436_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020436_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020436_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020436_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020436_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020436_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020436_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020436_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020436Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020436Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020436Member 2025-02-28 0000320351 fmr:C000020436Member country:US 2025-02-28 0000320351 fmr:C000020436Member country:GB 2025-02-28 0000320351 fmr:C000020436Member country:PR 2025-02-28 0000320351 fmr:C000020436Member fmr:GrandCaymanUKOverseasTerMember 2025-02-28 0000320351 fmr:C000020436Member country:MX 2025-02-28 0000320351 fmr:C000020436Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020436Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020441Member 2024-02-28 2025-02-28 0000320351 fmr:C000020441_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020441_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020441_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020441_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020441_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020441_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020441_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020441_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020441_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020441Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TI4Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020441Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020441Member 2025-02-28 0000320351 fmr:C000020441Member country:US 2025-02-28 0000320351 fmr:C000020441Member country:CA 2025-02-28 0000320351 fmr:C000020441Member country:NL 2025-02-28 0000320351 fmr:C000020441Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020441Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000020433Member 2024-02-28 2025-02-28 0000320351 fmr:C000020433_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020433_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020433_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000020433_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020433_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020433_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020433_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000020433_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000020433_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000020433Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TI3Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020433Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020433Member 2025-02-28 0000320351 fmr:C000020433Member country:US 2025-02-28 0000320351 fmr:C000020433Member country:CA 2025-02-28 0000320351 fmr:C000020433Member country:GB 2025-02-28 0000320351 fmr:C000020433Member country:NO 2025-02-28 0000320351 fmr:C000020433Member country:FR 2025-02-28 0000320351 fmr:C000020433Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000020433Member fmr:TH9Member 2025-02-28 0000320351 fmr:C000040635Member 2024-02-28 2025-02-28 0000320351 fmr:C000040635_LG_ClassMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040635_LG_1_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040635_LG_2_AdditionalIndexMember_11YRMember 2014-02-28 2025-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2015Member 2015-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2016Member 2016-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2017Member 2017-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2018Member 2018-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2019Member 2019-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2020Member 2020-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2021Member 2021-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2022Member 2022-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2023Member 2023-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2024Member 2024-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 0000320351 fmr:C000040635_NoLoadClassMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040635_NoLoadClassMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040635_NoLoadClassMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040635_1_BBIndexMember_1YRMember 2024-02-28 2025-02-28 0000320351 fmr:C000040635_1_BBIndexMember_5YRMember 2020-02-28 2025-02-28 0000320351 fmr:C000040635_1_BBIndexMember_10YRMember 2015-02-28 2025-02-28 0000320351 fmr:C000040635Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI0Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI1Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI2Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI3Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI4Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TI5Member 2025-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040635Member 2025-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040635Member 2025-02-28 0000320351 fmr:C000040635Member country:US 2025-02-28 0000320351 fmr:C000040635Member country:BE 2025-02-28 0000320351 fmr:C000040635Member country:PR 2025-02-28 0000320351 fmr:C000040635Member country:GB 2025-02-28 0000320351 fmr:C000040635Member fmr:TH0Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH1Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH2Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH3Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH4Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH5Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH6Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH7Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH8Member 2025-02-28 0000320351 fmr:C000040635Member fmr:TH9Member 2025-02-28 0000320351 2024-02-28 2025-02-28 iso4217:USD pure shares N-CSR false 0000320351 N-1A Fidelity Select Portfolios 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Telecommunications Portfolio FSTCX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Telecommunications Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>88<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.75<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 88 0.0075 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Telecommunications Portfolio $10,000 $10,049 $11,964 $11,514 $11,904 $13,392 $15,957 $15,001 $13,845 $13,661 $18,348 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $10,342 $11,766 $10,833 $10,811 $11,748 $13,136 $12,353 $11,383 $11,298 $16,103 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Telecommunications Portfolio</span> 10000 10049 11964 11514 11904 13392 15957 15001 13845 13661 18348 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 10342 11766 10833 10811 11748 13136 12353 11383 11298 16103 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Telecommunications Portfolio 34.31% 6.50% 6.26% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3431 0.0650 0.0626 0.4254 0.0651 0.0488 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Pharmaceuticals Portfolio Pharmaceuticals Portfolio FPHAX This annual shareholder report contains information about Pharmaceuticals Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Pharmaceuticals Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 69 0.0067 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index for the fiscal year, especially within biotechnology. Also hurting our result was stock selection in life sciences tools &amp; services and health care equipment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was our non-index stake in Legend Biotech (-46%). This period we increased our stake in Legend Biotech. The company was one of our biggest holdings. A non-index stake in Moderna returned about -67% and was a second notable relative detractor. An overweight in Novo Nordisk (-24%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the industry index was stock selection in pharmaceuticals. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in UCB (+65%). We trimmed the position this period but the stock was among our biggest holdings. A second notable relative contributor was our non-index stake in Gilead Sciences (+65%). The stock was one of the fund's largest holdings. Another notable relative contributor was an underweight in Zoetis (-15%). This was a position we established this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include a lower allocation to biotechnology.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Pharmaceuticals Portfolio $10,000 $8,867 $8,918 $9,418 $10,751 $12,048 $14,514 $15,261 $15,505 $20,830 $21,939 MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index $10,000 $8,445 $8,828 $9,523 $10,725 $10,569 $12,617 $13,569 $13,351 $16,602 $17,632 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Pharmaceuticals Portfolio</span> 10000 8867 8918 9418 10751 12048 14514 15261 15505 20830 21939 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index</span> 10000 8445 8828 9523 10725 10569 12617 13569 13351 16602 17632 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Pharmaceuticals Portfolio 5.32% 12.74% 8.17% MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index 6.20% 10.78% 5.83% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0532 0.1274 0.0817 0.0620 0.1078 0.0583 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,318,823,337</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,748,578</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">51<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1318823337 65 9748578 0.51       TOP INDUSTRIES (% of Fund's net assets) Pharmaceuticals 75.5   Biotechnology 18.3   Health Care Equipment & Supplies 1.8   Financial Services 0.2   Software 0.1   Consumer Staples Distribution & Retail 0.0       Common Stocks 95.2 Preferred Stocks 0.7 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 4.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.2                       Preferred Stocks - 0.7                     Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 4.1   United States 65.3 Denmark 14.8 United Kingdom 10.4 Belgium 6.1 Germany 1.7 Canada 0.8 Netherlands 0.8 Ireland 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 65.3                       Denmark - 14.8                             United Kingdom - 10.4                      Belgium - 6.1                              Germany - 1.7                              Canada - 0.8                               Netherlands - 0.8                          Ireland - 0.1                                  0.755 0.183 0.018 0.002 0.001 0.000 0.952 0.007 0.000 0.041 0.653 0.148 0.104 0.061 0.017 0.008 0.008 0.001 TOP HOLDINGS (% of Fund's net assets)     Eli Lilly & Co 25.0   Novo Nordisk A/S Class B ADR 14.4   Astrazeneca PLC ADR 10.4   Merck & Co Inc 5.0   UCB SA 4.9   GSK PLC ADR 4.8   Gilead Sciences Inc 4.8   Royalty Pharma PLC Class A 2.8   Legend Biotech Corp ADR 2.3   Elanco Animal Health Inc 2.2     76.6   0.250 0.144 0.104 0.050 0.049 0.048 0.048 0.028 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Transportation Portfolio Transportation Portfolio FSRFX This annual shareholder report contains information about Transportation Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Transportation Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>70<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 70 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Centry Std Light Cond';font-size:13px;color:#000000;font-style:normal;font-weight:normal;">•</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"><span style="padding-right:10px"></span>Although U.S. equities gained for the 12 months ending February 28, 2025, as measured by the S&amp;P 500® index, transportation stocks - except for airlines and marine transportation shares - considerably lagged due to weak demand for freight-hauling.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection and market selection were the primary contributors to the fund's performance versus the MSCI US IMI Transportation 25/50 Linked Index for the fiscal year, led by passenger airlines. An underweight in cargo ground transportation and an overweight in marine transportation also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Alaska Air Group (+93%). The company was among the fund's largest holdings. The second-largest relative contributor was an overweight in Kirby (+18%). This period we decreased our investment in Kirby. The company was one of our largest holdings this period. Another notable relative contributor this period was avoiding Old Dominion Freight Lines, an index component that returned -20%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the industry index was out-of-index exposure to oil &amp; gas equipment &amp; services. Stock picks in passenger ground transportation also hampered the fund's result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Tidewater (-50%). This was a stake we established this period. A second notable relative detractor was an overweight in Saia (-29%). Another notable relative detractor was our non-index stake in Star Bulk Carriers (-26%). This was a position we established this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the oil &amp; gas storage &amp; transportation and marine transportation industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Transportation Portfolio $10,000 $8,372 $10,834 $12,186 $13,022 $11,655 $15,690 $18,883 $18,796 $22,016 $23,018 MSCI U.S. IMI Transportation 25-50 Index $10,000 $8,188 $10,759 $12,238 $12,816 $11,797 $17,035 $19,217 $17,534 $20,889 $20,731 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Transportation Portfolio</span> 10000 8372 10834 12186 13022 11655 15690 18883 18796 22016 23018 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Transportation 25-50 Index</span> 10000 8188 10759 12238 12816 11797 17035 19217 17534 20889 20731 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Transportation Portfolio 4.55% 14.58% 8.69% MSCI U.S. IMI Transportation 25-50 Index -0.76% 11.94% 7.56% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0455 0.1458 0.0869 -0.0076 0.1194 0.0756 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>521,506,773</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">39</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>3,708,891</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">22<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 521506773 39 3708891 0.22       TOP INDUSTRIES (% of Fund's net assets) Ground Transportation 52.3   Passenger Airlines 22.8   Air Freight & Logistics 17.6   Marine Transportation 3.0   Oil, Gas & Consumable Fuels 1.5   Energy Equipment & Services 0.4       Common Stocks 97.6 Short-Term Investments and Net Other Assets (Liabilities) 2.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Short-Term Investments and Net Other Assets (Liabilities) - 2.4   United States 96.0 Panama 2.6 Italy 0.4 Canada 0.3 Brazil 0.3 Monaco 0.3 Greece 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.0                       Panama - 2.6                               Italy - 0.4                                Canada - 0.3                               Brazil - 0.3                               Monaco - 0.3                               Greece - 0.1                                   0.523 0.228 0.176 0.030 0.015 0.004 0.976 0.024 0.960 0.026 0.004 0.003 0.003 0.003 0.001 TOP HOLDINGS (% of Fund's net assets)     Union Pacific Corp 16.4   Uber Technologies Inc 15.5   United Parcel Service Inc Class B 9.0   CSX Corp 6.2   Norfolk Southern Corp 5.0   Alaska Air Group Inc 4.8   United Airlines Holdings Inc 4.6   Delta Air Lines Inc 4.2   FedEx Corp 3.6   SkyWest Inc 3.2     72.5   0.164 0.155 0.090 0.062 0.050 0.048 0.046 0.042 0.036 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Enterprise Technology Services Portfolio Enterprise Technology Services Portfolio FBSOX This annual shareholder report contains information about Enterprise Technology Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Enterprise Technology Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>70<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 70 0.0066 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index for the fiscal year, especially within the internet services &amp; infrastructure category. Also hurting our result was stock picking among transaction &amp; payment processing services and application software firms.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was our stake in MongoDB (-38%). The stock was not held at period end. An overweight in EPAM Systems (-33%) hurt as well, along with outsized exposure to Block (-18%), one of our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was stock selection in the data processing &amp; outsourced services group. An underweight among internet services &amp; infrastructure companies also boosted relative performance. Investment choices in the human resource &amp; employment services category helped as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kyndryl Holdings (+76%), a position we established this period. The company was among our biggest holdings at period end. Outsized exposure to Genpact (+76%), a stake we established this period, was another plus. An overweight in EXL Service Holdings (+56%), one of the fund's largest holdings, helped as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to human resource &amp; employment services firms and a lower allocation to application software stocks.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Enterprise Technology Services Portfolio $10,000 $9,941 $12,034 $16,266 $18,876 $21,893 $29,484 $25,560 $22,524 $28,347 $32,318 MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index $10,000 $9,698 $12,228 $15,683 $17,931 $20,712 $27,114 $24,109 $21,731 $27,289 $31,948 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Enterprise Technology Services Portfolio</span> 10000 9941 12034 16266 18876 21893 29484 25560 22524 28347 32318 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index</span> 10000 9698 12228 15683 17931 20712 27114 24109 21731 27289 31948 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Enterprise Technology Services Portfolio 14.01% 8.10% 12.45% MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index 17.07% 9.06% 12.32% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1401 0.0810 0.1245 0.1707 0.0906 0.1232 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,806,284,512</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">32</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>11,476,825</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1806284512 32 11476825 0.63       TOP INDUSTRIES (% of Fund's net assets) Financial Services 56.9   IT Services 25.7   Professional Services 11.2   Interactive Media & Services 3.0   Software 1.8   Broadline Retail 0.7       Common Stocks 99.3 Short-Term Investments and Net Other Assets (Liabilities) 0.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Short-Term Investments and Net Other Assets (Liabilities) - 0.7   United States 92.7 Ireland 6.1 Israel 1.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.7                       Ireland - 6.1                              Israel - 1.2                                   0.569 0.257 0.112 0.030 0.018 0.007 0.993 0.007 0.927 0.061 0.012 TOP HOLDINGS (% of Fund's net assets)     Visa Inc Class A 25.0   Mastercard Inc Class A 18.2   Accenture PLC Class A 6.1   Fiserv Inc 4.9   Cognizant Technology Solutions Corp Class A 4.0   Automatic Data Processing Inc 3.9   ExlService Holdings Inc 3.5   IBM Corporation 3.0   Kyndryl Holdings Inc 3.0   Block Inc Class A 3.0     74.6   0.250 0.182 0.061 0.049 0.040 0.039 0.035 0.030 0.030 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Consumer Discretionary Portfolio FSCPX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Consumer Discretionary Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>74<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 74 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, industry positioning was the primary detractor from the fund's performance versus the MSCI U.S. IMI Consumer Discretionary 25/50 Index for the fiscal year, especially an overweight in the other specialty retail category. Also hurting our result were an overweight in apparel, accessories &amp; luxury goods and an underweight in automobile manufacturers.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was our stake in Aptiv Irish Holdings (-27%). Aptiv Irish Holdings was a subsidiary of Aptiv, until December 19, 2024, after which Aptiv Irish Holdings merged with Aptiv Swiss Holdings, also known simply as Aptiv. A second notable relative detractor was an overweight in PVH (-45%). Another notable relative detractor was an overweight in Academy Sports &amp; Outdoors (-33%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock picking in apparel retail. Picks in homefurnishing retail and automobile manufacturers also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Williams-Sonoma (+69%), and we reduced our stake. A second notable relative contributor was an overweight in Tapestry (+85%), and we reduced our holdings. Another notable relative contributor was our non-index stake in Aritzia (+73%), and we reduced the size of the fund's position. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the apparel, accessories &amp; luxury goods and footwear industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Consumer Discretionary Portfolio $10,000 $9,540 $10,998 $13,505 $14,154 $14,903 $22,497 $22,921 $19,054 $25,454 $28,602 MSCI U.S. IMI Consumer Discretionary 25-50 Index $10,000 $9,653 $11,439 $13,888 $14,768 $15,738 $25,813 $27,199 $22,915 $29,589 $33,830 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Consumer Discretionary Portfolio</span> 10000 9540 10998 13505 14154 14903 22497 22921 19054 25454 28602 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Discretionary 25-50 Index</span> 10000 9653 11439 13888 14768 15738 25813 27199 22915 29589 33830 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Consumer Discretionary Portfolio 12.37% 13.93% 11.08% MSCI U.S. IMI Consumer Discretionary 25-50 Index 14.33% 16.54% 12.96% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1237 0.1393 0.1108 0.1433 0.1654 0.1296 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>549,464,442</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">58</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>3,461,535</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">30<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 549464442 58 3461535 0.30       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.6   Specialty Retail 24.4   Hotels, Restaurants & Leisure 19.5   Automobiles 14.0   Textiles, Apparel & Luxury Goods 6.2   Household Durables 4.8   Automobile Components 2.9   Building Products 0.7   Consumer Staples Distribution & Retail 0.6       Common Stocks 99.7 Short-Term Investments and Net Other Assets (Liabilities) 0.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Short-Term Investments and Net Other Assets (Liabilities) - 0.3   United States 93.8 Canada 2.2 Bailiwick Of Jersey 2.2 Brazil 1.0 United Kingdom 0.3 France 0.3 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.8                       Canada - 2.2                               Bailiwick Of Jersey - 2.2                  Brazil - 1.0                               United Kingdom - 0.3                       France - 0.3                               Switzerland - 0.2                              0.266 0.244 0.195 0.140 0.062 0.048 0.029 0.007 0.006 0.997 0.003 0.938 0.022 0.022 0.010 0.003 0.003 0.002 TOP HOLDINGS (% of Fund's net assets)     Amazon.com Inc 24.5   Tesla Inc 12.5   Home Depot Inc/The 4.7   Lowe's Cos Inc 4.6   McDonald's Corp 2.9   TJX Cos Inc/The 2.7   Hilton Worldwide Holdings Inc 2.6   Booking Holdings Inc 2.3   Dick's Sporting Goods Inc 2.3   Aptiv PLC 2.2     61.3   0.245 0.125 0.047 0.046 0.029 0.027 0.026 0.023 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Insurance Portfolio Insurance Portfolio FSPCX This annual shareholder report contains information about Insurance Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Insurance Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 78 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI US IMI Insurance 25/50 Index for the fiscal year, especially within the property &amp; casualty insurance industry. Picks among life &amp; health insurance firms also hampered the fund's result, as did an overweight in the reinsurance category.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Progressive (+52%), despite being one of the fund's largest holdings. An underweight in Globe Life (+1%) hurt as well. The stock was not held at period end. Outsized exposure to American Financial Group (+4%) also detracted. The company was among our biggest holdings this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributors to performance versus the industry index were picks and an overweight in insurance brokers. Stock selection among reinsurance firms further boosted relative performance. Also helping our relative result was an underweight in the multi-line insurance category.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our stake in Baldwin Insurance (+49%). The stock was not held at period end. A position in Aon (+24%) was another plus. This was an investment we established this period and was among the fund's biggest holdings at the end of February. Exposure to Willis Towers Watson (+17%), an investment we established this period, also helped. The company was one of our biggest holdings at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the reinsurance industry and a lower allocation to life &amp; health insurance stocks.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Insurance Portfolio $10,000 $9,746 $12,825 $14,058 $14,018 $14,851 $17,159 $21,393 $23,265 $28,675 $35,546 MSCI U.S. IMI Insurance 25-50 Index $10,000 $9,817 $13,041 $14,134 $14,639 $15,148 $17,231 $21,431 $23,628 $28,221 $35,360 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Insurance Portfolio</span> 10000 9746 12825 14058 14018 14851 17159 21393 23265 28675 35546 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Insurance 25-50 Index</span> 10000 9817 13041 14134 14639 15148 17231 21431 23628 28221 35360 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Insurance Portfolio 23.96% 19.07% 13.52% MSCI U.S. IMI Insurance 25-50 Index 25.30% 18.48% 13.46% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2396 0.1907 0.1352 0.2530 0.1848 0.1346 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>958,967,659</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">22</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,448,697</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">55<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 958967659 22 5448697 0.55       TOP INDUSTRIES (% of Fund's net assets) Insurance 92.9   Financial Services 6.5       Common Stocks 99.4 Short-Term Investments and Net Other Assets (Liabilities) 0.6 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.4                       Short-Term Investments and Net Other Assets (Liabilities) - 0.6   United States 99.2 Australia 0.6 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Australia - 0.6                            United Kingdom - 0.2                           0.929 0.065 0.994 0.006 0.992 0.006 0.002 TOP HOLDINGS (% of Fund's net assets)     Marsh & McLennan Cos Inc 11.7   Chubb Ltd 10.9   Arthur J Gallagher & Co 9.1   Aon PLC 8.7   The Travelers Companies, Inc. 7.4   Willis Towers Watson PLC 4.8   Reinsurance Group of America Inc 4.6   Hartford Insurance Group Inc/The 4.6   Progressive Corp/The 4.5   MetLife Inc 4.3     70.6   0.117 0.109 0.091 0.087 0.074 0.048 0.046 0.046 0.045 0.043 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Fidelity Advisor® Gold Fund Class Z FIJDX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>77<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.60<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 77 0.0060 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE October 2, 2018 through February 28, 2025. Initial investment of $10,000. Class Z $10,000 $11,480 $13,518 $15,832 $17,554 $14,207 $12,549 $19,696 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $11,911 $14,808 $17,806 $19,820 $15,943 $15,835 $24,211 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span> 10000 11480 13518 15832 17554 14207 12549 19696 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 11911 14808 17806 19820 15943 15835 24211 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9609 10397 13650 15887 14665 19131 22652 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 56.95% 7.82% 11.15% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 14.78% S&P 500® Index 18.41% 16.85% 13.60% A   From October 2, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.5695 0.0782 0.1115 0.5289 0.1033 0.1478 0.1841 0.1685 0.1360 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Fidelity® Natural Resources Fund Fidelity® Natural Resources Fund FNARX This annual shareholder report contains information about Fidelity® Natural Resources Fund for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Natural Resources Fund</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 71 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor to the fund's performance versus the S&amp;P North American Natural Resources Sector Index for the fiscal year, with picks in oil &amp; gas exploration &amp; production detracting most. Also hurting our result were an underweight in oil &amp; gas storage &amp; transportation and an overweight in integrated oil &amp; gas.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's non-index stake in MEG Energy returned -27% and was the biggest individual relative detractor. The stock was one of our largest holdings. Not owning Williams Companies, an index component that gained 69%, was the second-largest relative detractor. Our stake in Kosmos Energy (-38%) also hurt. The stock was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings detracted overall, hampered in part by a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the industry index was stock selection in integrated oil &amp; gas. An underweight in oil &amp; gas exploration &amp; production also boosted the fund's relative performance. Also contributing to our result was stock selection in copper.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in ConocoPhillips (-9%). This was a position we established this period. The second-largest relative contributor was an underweight in Canadian Natural Resources (-15%). The stock was not in the portfolio as of February 28. Another notable relative contributor was an underweight in Schlumberger (-12%). The stock was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the oil &amp; gas storage &amp; transportation and gold industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Fidelity® Natural Resources Fund $10,000 $6,978 $9,388 $8,998 $8,453 $6,910 $7,930 $11,872 $14,220 $15,154 $15,777 S&P® North American Natural Resources Sector Index $10,000 $7,149 $9,440 $9,158 $8,949 $7,419 $8,538 $12,359 $13,619 $14,597 $16,357 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Natural Resources Fund</span> 10000 6978 9388 8998 8453 6910 7930 11872 14220 15154 15777 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® North American Natural Resources Sector Index</span> 10000 7149 9440 9158 8949 7419 8538 12359 13619 14597 16357 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Fidelity® Natural Resources Fund 4.11% 17.95% 4.67% S&P® North American Natural Resources Sector Index 12.06% 17.13% 5.04% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0411 0.1795 0.0467 0.1206 0.1713 0.0504 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>571,855,459</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">38</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,208,766</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 571855459 38 4208766 0.68       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 73.3   Metals & Mining 16.3   Containers & Packaging 6.8   Energy Equipment & Services 1.4   Construction Materials 1.0       Common Stocks 98.8 Short-Term Investments and Net Other Assets (Liabilities) 1.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.8                       Short-Term Investments and Net Other Assets (Liabilities) - 1.2   United States 54.3 Canada 34.8 Portugal 4.2 Brazil 2.6 Zambia 2.5 Congo Democratic Republic Of 1.1 Norway 0.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 54.3                       Canada - 34.8                              Portugal - 4.2                             Brazil - 2.6                               Zambia - 2.5                               Congo Democratic Republic Of - 1.1         Norway - 0.5                                   0.733 0.163 0.068 0.014 0.010 0.988 0.012 0.543 0.348 0.042 0.026 0.025 0.011 0.005 TOP HOLDINGS (% of Fund's net assets)     Exxon Mobil Corp 21.3   Shell PLC ADR 10.7   Imperial Oil Ltd 10.2   MEG Energy Corp 4.8   Valero Energy Corp 4.4   Galp Energia SGPS SA 4.2   Agnico Eagle Mines Ltd/CA (United States) 3.8   Athabasca Oil Corp 3.2   AptarGroup Inc 2.7   Wheaton Precious Metals Corp (United States) 2.6     67.9   0.213 0.107 0.102 0.048 0.044 0.042 0.038 0.032 0.027 0.026 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Utilities Portfolio FSUTX This annual shareholder report contains information about Utilities Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Utilities Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>77<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 77 0.0066 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, industry positioning was the primary contributor to the fund's performance versus the MSCI U.S. IMI Utilities 25/50 Index for the fiscal year, led by an overweight in independent power producers &amp; energy traders. Security selection and an underweight in multi-utilities also boosted the fund's relative performance. Also lifting the fund's relative result was an underweight in water utilities.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Vistra (+148%). The stock was one of our biggest holdings. The second-largest relative contributor was an overweight in Entergy (+78%), which we trimmed during the period. Our stake in NextEra Energy (+30%) also helped. The company was the fund's biggest holding.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in independent power producers &amp; energy traders. Also hurting our result were stock picks in renewable electricity and coal &amp; consumable fuels. Lastly, the fund's position in cash detracted.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was our stake in XPLR Infrastructure (-19%). The stock was not held at period end. The second-largest relative detractor was an overweight in PG&amp;E (-1%). The stock was one of the fund's biggest holdings this period, but we reduced the size of the fund's stake. Another notable relative detractor was an overweight in Sempra (+4%), which was among the fund's largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include a higher allocation to multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On December 3, 2024, Pranay Kirpalani assumed portfolio management responsibilities for the fund, succeeding Douglas Simmons.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Utilities Portfolio $10,000 $9,581 $11,326 $11,891 $14,290 $15,625 $15,617 $18,614 $18,886 $20,021 $26,802 MSCI U.S. IMI Utilities 25-50 Index $10,000 $10,554 $12,376 $12,185 $14,765 $16,350 $15,908 $18,968 $18,782 $18,397 $24,229 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Utilities Portfolio</span> 10000 9581 11326 11891 14290 15625 15617 18614 18886 20021 26802 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Utilities 25-50 Index</span> 10000 10554 12376 12185 14765 16350 15908 18968 18782 18397 24229 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Utilities Portfolio 33.87% 11.40% 10.36% MSCI U.S. IMI Utilities 25-50 Index 31.70% 8.18% 9.25% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3387 0.1140 0.1036 0.3170 0.0818 0.0925 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,976,718,058</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">33</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,300,645</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1976718058 33 10300645 0.69       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 64.6   Multi-Utilities 21.4   Independent Power and Renewable Electricity Producers 6.5   Gas Utilities 2.4   Electrical Equipment 0.6   Semiconductors & Semiconductor Equipment 0.1       Common Stocks 95.6 Short-Term Investments and Net Other Assets (Liabilities) 4.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.6                       Short-Term Investments and Net Other Assets (Liabilities) - 4.4   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.646 0.214 0.065 0.024 0.006 0.001 0.956 0.044 1.000 TOP HOLDINGS (% of Fund's net assets)     NextEra Energy Inc 9.4   Duke Energy Corp 9.1   Exelon Corp 6.0   Constellation Energy Corp 5.3   Entergy Corp 4.8   Sempra 4.7   Ameren Corp 4.5   Vistra Corp 4.3   Xcel Energy Inc 4.1   CenterPoint Energy Inc 4.1     56.3   0.094 0.091 0.060 0.053 0.048 0.047 0.045 0.043 0.041 0.041 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Brokerage and Investment Management Portfolio Brokerage and Investment Management Portfolio FSLBX This annual shareholder report contains information about Brokerage and Investment Management Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Brokerage and Investment Management Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>79<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 79 0.0068 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Capital Markets 5% Capped Linked Index for the fiscal year, especially an underweight in investment banking &amp; brokerage. An overweight in financial exchanges &amp; data also hampered the fund's result. Also hurting our result was security selection in investment banking &amp; brokerage and application software. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Not owning Goldman Sachs, an index component that gained about 63%, was the largest individual relative detractor. A second notable relative detractor was an underweight in Morgan Stanley (+60%). The stock was not held at period end. Not owning Bank of New York Mellon, an index component that gained 63%, was another notable relative detractor. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the industry index was stock picking in financial exchanges &amp; data. Stock picking in application software and diversified financial services also boosted the fund's relative performance. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor this period was avoiding T Rowe Price, an index component that returned about -3%. The second-largest relative contributor was an underweight in FactSet Research Systems (+1%). The stock was not held at period end. Another notable relative contributor this period was avoiding Franklin Resources, an index component that returned -22%. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to diversified financial services.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Brokerage and Investment Management Portfolio $10,000 $7,777 $10,247 $13,066 $12,016 $13,131 $18,343 $22,324 $21,659 $27,063 $35,280 MSCI U.S. IMI Capital Markets 5% Capped Linked Index $10,000 $7,522 $10,397 $13,337 $12,340 $13,264 $18,605 $22,550 $21,574 $26,316 $35,172 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Brokerage and Investment Management Portfolio</span> 10000 7777 10247 13066 12016 13131 18343 22324 21659 27063 35280 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Capital Markets 5% Capped Linked Index</span> 10000 7522 10397 13337 12340 13264 18605 22550 21574 26316 35172 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Brokerage and Investment Management Portfolio 30.36% 21.86% 13.44% MSCI U.S. IMI Capital Markets 5% Capped Linked Index 33.65% 21.54% 13.40% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3036 0.2186 0.1344 0.3365 0.2154 0.1340 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,477,532,440</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>6,906,328</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">16<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1477532440 40 6906328 0.16       TOP INDUSTRIES (% of Fund's net assets) Capital Markets 95.7   Financial Services 4.4       Common Stocks 100.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.1                    Short-Term Investments and Net Other Assets (Liabilities) - (0.1)%   United States 96.9 Canada 1.2 United Kingdom 1.0 Grand Cayman (UK Overseas Ter) 0.4 Luxembourg 0.4 Sweden 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.9                       Canada - 1.2                               United Kingdom - 1.0                       Grand Cayman (UK Overseas Ter) - 0.4       Luxembourg - 0.4                           Sweden - 0.1                                   0.957 0.044 1.001 0.969 0.012 0.010 0.004 0.004 0.001 TOP HOLDINGS (% of Fund's net assets)     Moody's Corp 8.7   Intercontinental Exchange Inc 5.4   S&P Global Inc 5.2   KKR & Co Inc Class A 5.1   Charles Schwab Corp/The 5.0   Blue Owl Capital Inc Class A 4.9   Blackstone Inc 4.6   Ares Management Corp Class A 4.5   Ameriprise Financial Inc 4.5   Blackrock Inc 4.4     52.3   0.087 0.054 0.052 0.051 0.050 0.049 0.046 0.045 0.045 0.044 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Fidelity Advisor® Communication Services Fund Class Z FGKMX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 66 0.0058 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE November 30, 2018 through February 28, 2025. Initial investment of $10,000. Class Z $10,000 $10,392 $11,679 $17,691 $16,868 $13,456 $20,501 $26,121 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $10,165 $11,143 $16,203 $15,274 $11,667 $16,606 $21,023 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span> 10000 10392 11679 17691 16868 13456 20501 26121 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 10165 11143 16203 15274 11667 16606 21023 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 10142 10972 14406 16767 15477 20190 23907 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 27.41% 17.47% 16.61% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 12.62% S&P 500® Index 18.41% 16.85% 14.96% A   From November 30, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2741 0.1747 0.1661 0.2660 0.1354 0.1262 0.1841 0.1685 0.1496 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Fidelity Advisor® Consumer Staples Fund Class A FDAGX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>100<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.97<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 100 0.0097 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $9,094 $10,177 $10,006 $9,974 $10,589 $12,284 $14,596 $14,379 $15,083 $16,100 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,343 $11,601 $11,557 $12,187 $13,064 $15,104 $18,105 $17,922 $19,529 $22,668 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 9094 10177 10006 9974 10589 12284 14596 14379 15083 16100 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10343 11601 11557 12187 13064 15104 18105 17922 19529 22668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   0.60% 7.46% 4.88% Class A (without 5.75% sales charge) 6.74% 8.74% 5.50% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 8.53% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0060 0.0746 0.0488 0.0674 0.0874 0.0550 0.1608 0.1165 0.0853 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Industrials Portfolio Industrials Portfolio FCYIX This annual shareholder report contains information about Industrials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Industrials Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>74<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 74 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the MSCI US IMI Industrials 25/50 Linked Index for the fiscal year, led by aerospace &amp; defense. An overweight in heavy electrical equipment also boosted relative performance. Further lifting the fund's relative result were picks in industrial machinery &amp; supplies &amp; components.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Howmet Aerospace (+106%). The stock was among the fund's largest holdings. The second-largest relative contributor was an overweight in GE Vernova (+140%). This was a position we established this period. The stock was among our biggest holdings. An overweight in GE Aerospace (+67%) also helped. The stock was the fund's largest holding.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractors from performance versus the sector index were stock picking and an overweight in cargo ground transportation. Stock picks in construction &amp; engineering also hampered the fund's result. Also detracting from our result was an underweight in industrial conglomerates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our stake in Saia (-36%). The stock was not held at period end. The second-largest relative detractor was an underweight in RTX (+52%). This was a position we established this period. Another notable relative detractor was an underweight in 3M (+104%). This was a position we established this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the heavy electrical equipment and trading companies &amp; distributors industries.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Industrials Portfolio $10,000 $9,171 $11,480 $13,286 $13,226 $12,986 $15,766 $17,237 $17,442 $22,932 $26,061 MSCI U.S. IMI Industrials 25-50 Index $10,000 $9,198 $11,948 $13,866 $14,109 $14,011 $18,108 $19,709 $20,294 $25,119 $28,277 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Industrials Portfolio</span> 10000 9171 11480 13286 13226 12986 15766 17237 17442 22932 26061 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Industrials 25-50 Index</span> 10000 9198 11948 13866 14109 14011 18108 19709 20294 25119 28277 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Industrials Portfolio 13.64% 14.95% 10.05% MSCI U.S. IMI Industrials 25-50 Index 12.57% 15.08% 10.95% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1364 0.1495 0.1005 0.1257 0.1508 0.1095 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>676,192,490</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">54</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,126,637</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">32<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 676192490 54 4126637 0.32       TOP INDUSTRIES (% of Fund's net assets) Aerospace & Defense 25.9   Machinery 22.3   Electrical Equipment 12.8   Ground Transportation 10.8   Building Products 9.6   Trading Companies & Distributors 6.9   Construction & Engineering 3.2   Commercial Services & Supplies 3.1   Professional Services 2.5   Others 2.7       Common Stocks 99.8 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.8                       Short-Term Investments and Net Other Assets (Liabilities) - 0.2   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.259 0.223 0.128 0.108 0.096 0.069 0.032 0.031 0.025 0.027 0.998 0.002 1.000 TOP HOLDINGS (% of Fund's net assets)     GE Aerospace 7.2   Howmet Aerospace Inc 6.1   GE Vernova Inc 5.3   Parker-Hannifin Corp 4.4   Boeing Co 4.0   TransDigm Group Inc 3.7   Trane Technologies PLC 3.7   Ingersoll Rand Inc 3.6   Union Pacific Corp 3.5   Deere & Co 3.4     44.9   0.072 0.061 0.053 0.044 0.040 0.037 0.037 0.036 0.035 0.034 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Fidelity Advisor® Consumer Staples Fund Class C FDCGX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>177<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.72<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 177 0.0172 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class C $10,000 $9,577 $10,637 $10,381 $10,271 $10,825 $12,464 $14,698 $14,370 $15,074 $16,090 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,343 $11,601 $11,557 $12,187 $13,064 $15,104 $18,105 $17,922 $19,529 $22,668 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 9577 10637 10381 10271 10825 12464 14698 14370 15074 16090 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10343 11601 11557 12187 13064 15104 18105 17922 19529 22668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 4.95% 7.93% 4.87% Class C 5.94% 7.93% 4.87% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 8.53% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0495 0.0793 0.0487 0.0594 0.0793 0.0487 0.1608 0.1165 0.0853 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Fidelity® Environment and Alternative Energy Fund Fidelity® Environment and Alternative Energy Fund FSLEX This annual shareholder report contains information about Fidelity® Environment and Alternative Energy Fund for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Environment and Alternative Energy Fund</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>73<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 73 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the FTSE EO &amp; Alternative Energy Index for the fiscal year, particularly in the semiconductors category. An underweight in automobile manufacturers also hampered the fund's result. Picks and a smaller-than-index allocation to aerospace &amp; defense stocks hurt as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in GE Aerospace (+67%), a stake we established this period. Not owning Cisco Systems, an index component that gained  approximately 37%, also hurt. A non-index stake in ON Semiconductor returned about -40% and further pressured performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the index was stock selection in the commodity chemicals group. An overweight in IT consulting &amp; other services and an underweight among renewable electricity firms also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in GE Vernova (+129%). This was a position we established this period. Not owning CSX, an index component that returned about -14%, helped as well. Another notable relative contributor this period was avoiding Nucor, an index component that returned approximately -27%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the life sciences tools &amp; services category and a higher allocation to building products companies.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Fidelity® Environment and Alternative Energy Fund $10,000 $8,937 $11,888 $13,996 $14,050 $13,720 $19,066 $21,168 $19,165 $23,814 $26,428 FTSE® Environmental Opportunities & Alternative Energy Index $10,000 $8,880 $11,283 $13,763 $14,305 $15,816 $24,824 $27,612 $26,523 $32,315 $38,119 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Environment and Alternative Energy Fund</span> 10000 8937 11888 13996 14050 13720 19066 21168 19165 23814 26428 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FTSE® Environmental Opportunities &amp; Alternative Energy Index</span> 10000 8880 11283 13763 14305 15816 24824 27612 26523 32315 38119 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Fidelity® Environment and Alternative Energy Fund 10.98% 14.01% 10.21% FTSE® Environmental Opportunities & Alternative Energy Index 17.96% 19.24% 14.32% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1098 0.1401 0.1021 0.1796 0.1924 0.1432 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>526,169,465</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">71</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>3,689,411</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 526169465 71 3689411 0.38       TOP INDUSTRIES (% of Fund's net assets) Software 11.3   Semiconductors & Semiconductor Equipment 9.1   Chemicals 8.6   IT Services 8.0   Electrical Equipment 7.9   Building Products 7.4   Automobiles 6.8   Machinery 5.8   Commercial Services & Supplies 5.1   Others 30.0       Common Stocks 100.0 Preferred Stocks 0.0 Short-Term Investments and Net Other Assets (Liabilities) 0.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.0                      Preferred Stocks - 0.0                     Short-Term Investments and Net Other Assets (Liabilities) - 0.0   United States 93.0 China 3.8 Germany 1.8 Japan 0.6 Canada 0.5 Bailiwick Of Jersey 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.0                       China - 3.8                                Germany - 1.8                              Japan - 0.6                                Canada - 0.5                               Bailiwick Of Jersey - 0.3                      0.113 0.091 0.086 0.080 0.079 0.074 0.068 0.058 0.051 0.300 1.000 0.000 0.000 0.930 0.038 0.018 0.006 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Microsoft Corp 11.3   Linde PLC 7.2   IBM Corporation 7.1   Tesla Inc 6.5   Prologis Inc 4.3   Republic Services Inc 3.7   Eaton Corp PLC 3.6   NXP Semiconductors NV 3.2   Arista Networks Inc 3.1   Trane Technologies PLC 2.9     52.9   0.113 0.072 0.071 0.065 0.043 0.037 0.036 0.032 0.031 0.029 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Consumer Staples Portfolio FDFAX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Consumer Staples Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>70<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 70 0.0067 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Consumer Staples Portfolio $10,000 $9,675 $10,859 $10,707 $10,704 $11,397 $13,260 $15,801 $15,609 $16,420 $17,578 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,343 $11,601 $11,557 $12,187 $13,064 $15,104 $18,105 $17,922 $19,529 $22,668 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Consumer Staples Portfolio</span> 10000 9675 10859 10707 10704 11397 13260 15801 15609 16420 17578 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10343 11601 11557 12187 13064 15104 18105 17922 19529 22668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Consumer Staples Portfolio 7.05% 9.05% 5.80% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 8.53% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0705 0.0905 0.0580 0.1608 0.1165 0.0853 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Wireless Portfolio Wireless Portfolio FWRLX This annual shareholder report contains information about Wireless Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Wireless Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>77<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 77 0.0071 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the Fidelity Wireless Index for the fiscal year, especially an underweight in communications equipment. Also hurting our result was stock picking in technology hardware, storage &amp; peripherals and interactive media &amp; services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor this period was avoiding AST SpaceMobile, an index component that gained 755%. The second-largest relative detractor was a non-index stake in Samsung Electronics (-31%). It also hurt to avoid CommScope, an index component that gained 445% for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings detracted overall, hampered in part by a broadly stronger U.S. dollar.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were stock picking and an underweight in integrated telecommunication services. Picks in wireless telecommunication services, semiconductors, and movies &amp; entertainment also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor this period was avoiding BCE, an index component that returned approximately -31%. The second-largest relative contributor was a non-index investment in AppLovin (+171%). This was a stake we established this period. Another notable relative contributor was a non-index stake in Spotify Technology (+141%). This period we decreased our investment in the stock.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the interactive media &amp; services industry and a higher allocation to technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Wireless Portfolio $10,000 $8,893 $11,035 $12,934 $12,961 $15,944 $21,699 $22,654 $19,304 $23,131 $27,365 Fidelity Wireless Index℠ $10,000 $9,066 $10,496 $11,800 $12,073 $13,926 $17,590 $19,439 $17,130 $18,141 $21,586 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Wireless Portfolio</span> 10000 8893 11035 12934 12961 15944 21699 22654 19304 23131 27365 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Fidelity Wireless Index℠</span> 10000 9066 10496 11800 12073 13926 17590 19439 17130 18141 21586 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Wireless Portfolio 18.31% 11.41% 10.59% Fidelity Wireless Index℠ 18.99% 9.16% 8.00% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1831 0.1141 0.1059 0.1899 0.0916 0.0800 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>325,789,894</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">51</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,194,152</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">49<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 325789894 51 2194152 0.49       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 25.6   Technology Hardware, Storage & Peripherals 18.2   Semiconductors & Semiconductor Equipment 16.7   Wireless Telecommunication Services 13.1   Specialized REITs 10.9   Communications Equipment 7.5   Media 3.2   Oil, Gas & Consumable Fuels 1.0   Interactive Media & Services 1.0   Others 2.1       Common Stocks 99.3 Short-Term Investments and Net Other Assets (Liabilities) 0.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Short-Term Investments and Net Other Assets (Liabilities) - 0.7   United States 82.8 Canada 2.9 China 2.3 Spain 1.9 Finland 1.9 United Kingdom 1.8 Korea (South) 1.6 Singapore 1.3 India 1.0 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 82.8                       Canada - 2.9                               China - 2.3                                Spain - 1.9                                Finland - 1.9                              United Kingdom - 1.8                       Korea (South) - 1.6                        Singapore - 1.3                            India - 1.0                                Others - 2.5                                   0.256 0.182 0.167 0.131 0.109 0.075 0.032 0.010 0.010 0.021 0.993 0.007 0.828 0.029 0.023 0.019 0.019 0.018 0.016 0.013 0.010 0.025 TOP HOLDINGS (% of Fund's net assets)     Apple Inc 16.6   Verizon Communications Inc 11.4   American Tower Corp 8.2   Marvell Technology Inc 6.7   T-Mobile US Inc 6.7   Motorola Solutions Inc 5.0   AT&T Inc 4.9   QUALCOMM Inc 4.6   United States Cellular Corp 2.7   NXP Semiconductors NV 2.3     69.1   0.166 0.114 0.082 0.067 0.067 0.050 0.049 0.046 0.027 0.023 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Banking Portfolio Banking Portfolio FSRBX This annual shareholder report contains information about Banking Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Banking Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>84<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 84 0.0071 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the MSCI US IMI Banks 5% Capped Linked Index for the fiscal year, especially among regional banks. Picks in asset management &amp; custody banks and consumer finance also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our stake in Heartland Financial (+94%). The bank was bought by UMB Financial during the period. An overweight in M&amp;T Bank (+42%), one of our biggest holdings, also helped. Outsized exposure to Old National Bancorp (+51%) was another plus. The stock was one of our largest holdings at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractors from performance versus the industry index were security selection and an overweight in diversified banks. An underweight in regional banks also modestly hampered the fund's result. Lastly, the fund's position in cash hurt as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor this period was avoiding JPMorgan Chase, an index component that rose about 45%. Outsized exposure to Popular (+23%), which was among our biggest holdings, also hurt. Another notable relative detractor was an overweight in Associated Banc (+23%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to diversified banks and a higher allocation to regional banks.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Banking Portfolio $10,000 $8,743 $13,654 $15,335 $14,327 $13,460 $16,946 $20,906 $18,551 $18,620 $25,419 MSCI US IMI Banks 5% Capped Linked Index $10,000 $9,136 $14,548 $16,017 $15,303 $13,845 $17,917 $21,255 $18,627 $17,473 $23,393 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Banking Portfolio</span> 10000 8743 13654 15335 14327 13460 16946 20906 18551 18620 25419 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI US IMI Banks 5% Capped Linked Index</span> 10000 9136 14548 16017 15303 13845 17917 21255 18627 17473 23393 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Banking Portfolio 36.51% 13.56% 9.78% MSCI US IMI Banks 5% Capped Linked Index 33.88% 11.06% 8.87% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3651 0.1356 0.0978 0.3388 0.1106 0.0887 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>508,072,195</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">38</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>2,945,591</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">31<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 508072195 38 2945591 0.31       TOP INDUSTRIES (% of Fund's net assets) Banks 96.3   Capital Markets 3.0   Consumer Finance 0.6   Financial Services 0.0       Common Stocks 99.9 Short-Term Investments and Net Other Assets (Liabilities) 0.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.9                       Short-Term Investments and Net Other Assets (Liabilities) - 0.1   United States 95.7 Puerto Rico 4.3 Cyprus 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       Puerto Rico - 4.3                          Cyprus - 0.0                                   0.963 0.030 0.006 0.000 0.999 0.001 0.957 0.043 0.000 TOP HOLDINGS (% of Fund's net assets)     Wells Fargo & Co 8.6   Bank of America Corp 6.6   Citigroup Inc 6.0   US Bancorp 5.5   M&T Bank Corp 5.3   UMB Financial Corp 4.4   Truist Financial Corp 4.3   Popular Inc 4.3   Old National Bancorp/IN 3.7   East West Bancorp Inc 3.3     52.0   0.086 0.066 0.060 0.055 0.053 0.044 0.043 0.043 0.037 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Defense and Aerospace Portfolio Defense and Aerospace Portfolio FSDAX This annual shareholder report contains information about Defense and Aerospace Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Defense and Aerospace Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>74<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 74 0.0065 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI US IMI Aerospace &amp; Defense 25/50 Linked Index for the fiscal year, especially within the aerospace &amp; defense category. Also hurting our result was out-of-index exposure to steel and research &amp; consulting services firms.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Rocket Lab (+347%), an investment we established this period. A smaller-than-index stake in RTX (+52%) also hurt, though the stock was among our largest holdings. Outsized exposure to shares of Boeing (-13%) further pressured performance. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was a non-index allocation to trading companies &amp; distributors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Rolls-Royce (+100%). Not owning Hexcel, an index component that returned -14%, was another plus. An underweight in Lockheed Martin (+7%) helped as well. This period we decreased our stake in Lockheed Martin though it remained one of the fund's biggest holdings.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Defense and Aerospace Portfolio $10,000 $8,892 $11,948 $16,543 $17,134 $16,909 $17,025 $19,418 $19,716 $22,301 $27,875 MSCI U.S. IMI Aerospace & Defense 25-50 Index $10,000 $9,099 $12,749 $18,181 $19,384 $19,008 $19,287 $22,969 $23,783 $26,598 $33,746 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Defense and Aerospace Portfolio</span> 10000 8892 11948 16543 17134 16909 17025 19418 19716 22301 27875 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Aerospace &amp; Defense 25-50 Index</span> 10000 9099 12749 18181 19384 19008 19287 22969 23783 26598 33746 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Defense and Aerospace Portfolio 24.99% 10.52% 10.80% MSCI U.S. IMI Aerospace & Defense 25-50 Index 26.88% 12.17% 12.93% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2499 0.1052 0.1080 0.2688 0.1217 0.1293 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,836,808,347</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,997,199</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">33<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1836808347 35 10997199 0.33       TOP INDUSTRIES (% of Fund's net assets) Aerospace & Defense 97.6   Metals & Mining 1.0   Trading Companies & Distributors 0.5   Professional Services 0.5       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 94.0 United Kingdom 3.0 Canada 1.3 Germany 0.9 France 0.7 Brazil 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.0                       United Kingdom - 3.0                       Canada - 1.3                               Germany - 0.9                              France - 0.7                               Brazil - 0.1                                   0.976 0.010 0.005 0.005 0.996 0.004 0.940 0.030 0.013 0.009 0.007 0.001 TOP HOLDINGS (% of Fund's net assets)     GE Aerospace 20.9   Boeing Co 12.0   RTX Corp 10.0   Howmet Aerospace Inc 6.0   TransDigm Group Inc 5.0   Lockheed Martin Corp 4.8   General Dynamics Corp 4.3   HEICO Corp Class A 4.0   Axon Enterprise Inc 4.0   Northrop Grumman Corp 3.7     74.7   0.209 0.120 0.100 0.060 0.050 0.048 0.043 0.040 0.040 0.037 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Fidelity Advisor® Materials Fund Class A FMFAX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>99<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.99<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 99 0.0099 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $7,539 $9,815 $11,252 $9,835 $8,477 $12,484 $14,810 $14,868 $15,297 $15,288 MSCI U.S. IMI Materials 25-50 Index $10,000 $8,210 $11,022 $12,643 $11,832 $11,201 $16,054 $18,757 $18,879 $20,490 $21,220 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 7539 9815 11252 9835 8477 12484 14810 14868 15297 15288 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 8210 11022 12643 11832 11201 16054 18757 18879 20490 21220 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   -5.80% 11.19% 4.34% Class A (without 5.75% sales charge) -0.06% 12.52% 4.96% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 7.81% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. -0.0580 0.1119 0.0434 -0.0006 0.1252 0.0496 0.0357 0.1363 0.0781 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Tech Hardware Portfolio Tech Hardware Portfolio FDCPX This annual shareholder report contains information about Tech Hardware Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Tech Hardware Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>76<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 76 0.0068 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the FactSet Hardware Technology Linked Index for the fiscal year, especially within the semiconductors category. Picks among technology hardware, storage &amp; peripherals stocks also hampered the fund's result. An underweight in consumer electronics hurt as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Xiaomi (+295%), one of our biggest holdings at period end. A smaller-than-index position in Sony Group (+44%) also hurt. This period we decreased our position in Sony Group, though it remained one of the fund's largest holdings. Our stake in Samsung Electronics (-32%) further detracted. The stock was one of our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings detracted overall, hampered in part by broadly stronger U.S. dollar.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was an overweight in semiconductors. Stock selection and an overweight among communications equipment firms also boosted relative performance. An underweight in the technology hardware, storage &amp; peripherals group helped as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Super Micro Computer (-52%). Outsized exposure to Dell Technologies (+12%), one of the fund's largest holdings this period, was another plus. An overweight stake in Cisco Systems (+37%), the fund's biggest holding, also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to interactive home entertainment stocks and systems software companies.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Tech Hardware Portfolio $10,000 $7,844 $11,105 $13,861 $13,936 $16,417 $26,693 $27,954 $24,147 $31,687 $38,206 FactSet Hardware Technology Linked Index $10,000 $7,509 $10,435 $12,703 $11,915 $13,453 $21,661 $22,659 $19,814 $25,309 $31,019 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Tech Hardware Portfolio</span> 10000 7844 11105 13861 13936 16417 26693 27954 24147 31687 38206 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Hardware Technology Linked Index</span> 10000 7509 10435 12703 11915 13453 21661 22659 19814 25309 31019 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Tech Hardware Portfolio 20.58% 18.41% 14.34% FactSet Hardware Technology Linked Index 22.56% 18.18% 11.99% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2058 0.1841 0.1434 0.2256 0.1818 0.1199 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,050,766,252</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">38</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>6,678,859</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">70<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1050766252 38 6678859 0.70       TOP INDUSTRIES (% of Fund's net assets) Technology Hardware, Storage & Peripherals 33.5   Communications Equipment 27.5   Household Durables 12.2   Electronic Equipment, Instruments & Components 5.9   Semiconductors & Semiconductor Equipment 5.7   Entertainment 4.9   Software 4.5   Interactive Media & Services 3.5       Common Stocks 97.6 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.3   United States 62.6 Japan 18.6 Korea (South) 9.7 China 4.9 Taiwan 3.3 Finland 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 62.6                       Japan - 18.6                               Korea (South) - 9.7                        China - 4.9                                Taiwan - 3.3                               Finland - 0.9                                  0.335 0.275 0.122 0.059 0.057 0.049 0.045 0.035 0.976 0.001 0.023 0.626 0.186 0.097 0.049 0.033 0.009 TOP HOLDINGS (% of Fund's net assets)     Cisco Systems Inc 11.9   Sony Group Corp 10.4   Samsung Electronics Co Ltd 8.5   Apple Inc 7.8   Arista Networks Inc 7.0   Motorola Solutions Inc 5.0   Nintendo Co Ltd 4.9   Xiaomi Corp B Shares 4.9   Western Digital Corp 3.0   Dell Technologies Inc Class C 3.0     66.4   0.119 0.104 0.085 0.078 0.070 0.050 0.049 0.049 0.030 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Fidelity Advisor® Gold Fund Class M FGDTX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>156<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.22<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 156 0.0122 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $9,401 $11,245 $10,004 $10,099 $11,800 $13,721 $15,104 $12,135 $10,648 $16,602 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $9,763 $11,899 $11,061 $11,782 $14,646 $17,612 $19,604 $15,769 $15,663 $23,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 9401 11245 10004 10099 11800 13721 15104 12135 10648 16602 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 9763 11899 11061 11782 14646 17612 19604 15769 15663 23947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   50.45% 6.31% 5.20% Class M (without 3.50% sales charge) 55.91% 7.07% 5.58% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 9.13% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.5045 0.0631 0.0520 0.5591 0.0707 0.0558 0.5289 0.1033 0.0913 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Health Care Services Portfolio Health Care Services Portfolio FSHCX This annual shareholder report contains information about Health Care Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Health Care Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>64<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 64 0.0067 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI US IMI Health Care Providers &amp; Services 25/50 Index for the fiscal year, especially within health care services, health care facilities and managed health care.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Acadia Healthcare (-64%). A second notable relative detractor this period was avoiding Hims &amp; Hers Health, an index component that gained 246%. An underweight in Humana (-22%) also detracted. This period we decreased our position in Humana.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributors to performance versus the industry index were stock picking in health care distributors and life &amp; health insurance, along with an overweight in health care facilities.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Elevance Health (-20%). This period we decreased our position in the stock, but it was among the fund's biggest holdings for the 12 months. The second-largest relative contributor was an overweight in BrightSpring Health Services (+109%). An overweight in Alignment Healthcare (+164%) also contributed. This period we increased our investment in Alignment Healthcare.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the health care services industry and a lower allocation to health care facilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Health Care Services Portfolio $10,000 $9,370 $11,217 $13,127 $14,388 $15,307 $19,812 $23,151 $23,002 $24,915 $23,113 MSCI U.S. IMI Health Care Providers & Services 25-50 Index $10,000 $9,314 $11,072 $13,301 $14,086 $14,525 $18,946 $23,805 $23,716 $25,819 $25,986 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Health Care Services Portfolio</span> 10000 9370 11217 13127 14388 15307 19812 23151 23002 24915 23113 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Health Care Providers &amp; Services 25-50 Index</span> 10000 9314 11072 13301 14086 14525 18946 23805 23716 25819 25986 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Health Care Services Portfolio -7.23% 8.59% 8.74% MSCI U.S. IMI Health Care Providers & Services 25-50 Index 0.65% 12.34% 10.02% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. -0.0723 0.0859 0.0874 0.0065 0.1234 0.1002 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,085,139,218</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">31</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>8,551,005</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1085139218 31 8551005 0.56       TOP INDUSTRIES (% of Fund's net assets) Health Care Providers & Services 97.2   Health Care Technology 1.7   Insurance 0.6       Common Stocks 99.0 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.0                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.972 0.017 0.006 0.990 0.005 0.005 1.000 TOP HOLDINGS (% of Fund's net assets)     UnitedHealth Group Inc 23.1   Cigna Group/The 9.8   CVS Health Corp 9.6   McKesson Corp 6.9   Molina Healthcare Inc 4.9   Cencora Inc 4.8   Centene Corp 4.7   Encompass Health Corp 3.9   Chemed Corp 3.4   Privia Health Group Inc 2.8     73.9   0.231 0.098 0.096 0.069 0.049 0.048 0.047 0.039 0.034 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Fidelity Advisor® Gold Fund Class I FGDIX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>92<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.72<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 92 0.0072 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class I $10,000 $9,800 $11,800 $10,565 $10,728 $12,617 $14,757 $16,342 $13,204 $11,653 $18,260 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $9,763 $11,899 $11,061 $11,782 $14,646 $17,612 $19,604 $15,769 $15,663 $23,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 9800 11800 10565 10728 12617 14757 16342 13204 11653 18260 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 9763 11899 11061 11782 14646 17612 19604 15769 15663 23947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 56.70% 7.67% 6.21% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 9.13% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.5670 0.0767 0.0621 0.5289 0.1033 0.0913 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Fidelity Advisor® Consumer Staples Fund Class I FDIGX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>73<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 73 0.0071 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class I $10,000 $9,674 $10,856 $10,702 $10,697 $11,390 $13,249 $15,787 $15,594 $16,403 $17,553 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,343 $11,601 $11,557 $12,187 $13,064 $15,104 $18,105 $17,922 $19,529 $22,668 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 9674 10856 10702 10697 11390 13249 15787 15594 16403 17553 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10343 11601 11557 12187 13064 15104 18105 17922 19529 22668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 7.01% 9.03% 5.79% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 8.53% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0701 0.0903 0.0579 0.1608 0.1165 0.0853 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Fidelity Advisor® Communication Services Fund Class C FGHMX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>193<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 193 0.0171 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE November 30, 2018 through February 28, 2025. Initial investment of $10,000. Class C $10,000 $10,363 $11,504 $17,229 $16,236 $12,803 $19,284 $24,291 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $10,165 $11,143 $16,203 $15,274 $11,667 $16,606 $21,023 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 10363 11504 17229 16236 12803 19284 24291 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 10165 11143 16203 15274 11667 16606 21023 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 10142 10972 14406 16767 15477 20190 23907 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class C  (incl. contingent deferred sales charge) 24.97% 16.12% 15.26% Class C 25.97% 16.12% 15.26% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 12.62% S&P 500® Index 18.41% 16.85% 14.96% A   From November 30, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2497 0.1612 0.1526 0.2597 0.1612 0.1526 0.2660 0.1354 0.1262 0.1841 0.1685 0.1496 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Fidelity Advisor® Materials Fund Class M FMFTX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>124<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.24<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 124 0.0124 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $7,694 $9,986 $11,414 $9,948 $8,551 $12,557 $14,858 $14,880 $15,271 $15,225 MSCI U.S. IMI Materials 25-50 Index $10,000 $8,210 $11,022 $12,643 $11,832 $11,201 $16,054 $18,757 $18,879 $20,490 $21,220 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 7694 9986 11414 9948 8551 12557 14858 14880 15271 15225 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 8210 11022 12643 11832 11201 16054 18757 18879 20490 21220 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   -3.79% 11.43% 4.29% Class M (without 3.50% sales charge) -0.30% 12.23% 4.67% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 7.81% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. -0.0379 0.1143 0.0429 -0.0030 0.1223 0.0467 0.0357 0.1363 0.0781 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Fidelity Advisor® Gold Fund Class C FGDCX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>219<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.72<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 219 0.0172 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class C $10,000 $9,698 $11,558 $10,246 $10,300 $11,991 $13,886 $15,222 $12,177 $10,706 $16,742 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $9,763 $11,899 $11,061 $11,782 $14,646 $17,612 $19,604 $15,769 $15,663 $23,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 9698 11558 10246 10300 11991 13886 15222 12177 10706 16742 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 9763 11899 11061 11782 14646 17612 19604 15769 15663 23947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 54.18% 6.59% 5.29% Class C 55.18% 6.59% 5.29% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 9.13% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.5418 0.0659 0.0529 0.5518 0.0659 0.0529 0.5289 0.1033 0.0913 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Medical Technology and Devices Portfolio Medical Technology and Devices Portfolio FSMEX This annual shareholder report contains information about Medical Technology and Devices Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Medical Technology and Devices Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 65 0.0063 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index for the fiscal year, especially within health care equipment. An underweight in life sciences tools &amp; services also boosted the fund's relative performance. Also helping our relative result was stock picking in health care technology.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Boston Scientific (+57%). We reduced the position, but the stock was the fund's biggest holding at period end. The second-largest relative contributor was an overweight in Insulet (+66%). The stock was among our largest holdings. Another notable relative contributor was an overweight in Masimo (+47%). The stock was one of the fund's biggest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from performance versus the industry index was stock selection in life sciences tools &amp; services. Stock picks in biotechnology also hampered the fund's result, as did an underweight in health care equipment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an overweight in 10x Genomics (-77%). A second notable relative detractor was an underweight in Abbott Laboratories (+19%), though the stock was one of our biggest holdings. Another notable relative detractor was an overweight in Bruker (-45%), though we reduced the fund's holdings this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the health care supplies and biotechnology industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Medical Technology and Devices Portfolio $10,000 $9,337 $12,150 $14,339 $17,759 $19,084 $27,520 $28,332 $25,035 $26,774 $28,704 MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index $10,000 $9,797 $12,266 $15,200 $18,571 $19,754 $28,174 $29,344 $25,396 $27,953 $28,502 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Medical Technology and Devices Portfolio</span> 10000 9337 12150 14339 17759 19084 27520 28332 25035 26774 28704 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index</span> 10000 9797 12266 15200 18571 19754 28174 29344 25396 27953 28502 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Medical Technology and Devices Portfolio 7.21% 8.51% 11.12% MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index 1.97% 7.61% 11.04% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0721 0.0851 0.1112 0.0197 0.0761 0.1104 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,993,723,999</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">61</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>33,206,093</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">31<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 4993723999 61 33206093 0.31       TOP INDUSTRIES (% of Fund's net assets) Health Care Equipment & Supplies 62.0   Life Sciences Tools & Services 23.7   Health Care Technology 6.4   Biotechnology 4.6   Health Care Providers & Services 2.0   Textiles, Apparel & Luxury Goods 0.4   Financial Services 0.3   Pharmaceuticals 0.1       Common Stocks 96.6 Preferred Stocks 2.5 Preferred Securities 0.3 Bonds 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.6                       Preferred Stocks - 2.5                     Preferred Securities - 0.3                 Bonds - 0.1                                Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 98.8 Canada 0.5 France 0.4 Japan 0.3 China 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 98.8                       Canada - 0.5                               France - 0.4                               Japan - 0.3                                China - 0.0                                    0.620 0.237 0.064 0.046 0.020 0.004 0.003 0.001 0.966 0.025 0.003 0.001 0.005 0.988 0.005 0.004 0.003 0.000 TOP HOLDINGS (% of Fund's net assets)     Boston Scientific Corp 14.6   Danaher Corp 9.4   Thermo Fisher Scientific Inc 8.8   Stryker Corp 8.3   Intuitive Surgical Inc 8.2   Masimo Corp 5.0   Penumbra Inc 4.9   Abbott Laboratories 4.5   Insulet Corp 4.4   Veeva Systems Inc Class A 3.5     71.6   0.146 0.094 0.088 0.083 0.082 0.050 0.049 0.045 0.044 0.035 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Fidelity Advisor® Communication Services Fund Class M FGEMX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>137<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.21<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 137 0.0121 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE November 30, 2018 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $10,013 $11,172 $16,810 $15,922 $12,615 $19,090 $24,168 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $10,165 $11,143 $16,203 $15,274 $11,667 $16,606 $21,023 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 10013 11172 16810 15922 12615 19090 24168 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 10165 11143 16203 15274 11667 16606 21023 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 10142 10972 14406 16767 15477 20190 23907 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class M (incl. 3.50% sales charge)   22.17% 15.86% 15.16% Class M (without 3.50% sales charge) 26.60% 16.69% 15.82% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 12.62% S&P 500® Index 18.41% 16.85% 14.96% A   From November 30, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2217 0.1586 0.1516 0.2660 0.1669 0.1582 0.2660 0.1354 0.1262 0.1841 0.1685 0.1496 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Health Care Portfolio Health Care Portfolio FSPHX This annual shareholder report contains information about Health Care Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Health Care Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 63 0.0063 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI U.S. IMI Health Care 25/50 Index for the fiscal year, especially within biotechnology. Also hurting our result were stock picks in life sciences tools &amp; services and health care facilities.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in 10x Genomics (-77%). A non-index stake in Legend Biotech returned roughly -46% and was the second-largest relative detractor. Another notable relative detractor this period was avoiding AbbVie, an index component that gained 23%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the sector index was security selection in health care equipment. Security selection in managed health care also boosted relative performance, along with positioning in health care supplies.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Boston Scientific (+57%), and we trimmed the position. The company still was the fund's biggest holding. The second-largest relative contributor was an overweight in Insulet (+66%). We increased the position and the stock was one of our biggest holdings. An overweight in Masimo (+47%) also contributed. The stock was among the fund's largest holdings at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the pharmaceuticals and life sciences tools &amp; services industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Health Care Portfolio $10,000 $8,510 $9,908 $11,443 $12,966 $14,242 $19,369 $18,658 $18,276 $20,401 $20,797 MSCI U.S. IMI Health Care 25-50 Index $10,000 $9,088 $10,663 $12,314 $13,690 $14,173 $18,432 $20,199 $19,811 $22,739 $23,642 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Health Care Portfolio</span> 10000 8510 9908 11443 12966 14242 19369 18658 18276 20401 20797 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Health Care 25-50 Index</span> 10000 9088 10663 12314 13690 14173 18432 20199 19811 22739 23642 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Health Care Portfolio 1.94% 7.87% 7.60% MSCI U.S. IMI Health Care 25-50 Index 3.97% 10.78% 8.99% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0194 0.0787 0.0760 0.0397 0.1078 0.0899 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>6,733,239,929</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">118</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>45,857,424</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 6733239929 118 45857424 0.40       TOP INDUSTRIES (% of Fund's net assets) Health Care Equipment & Supplies 32.7   Biotechnology 25.2   Health Care Providers & Services 20.0   Pharmaceuticals 10.8   Life Sciences Tools & Services 8.4   Health Care Technology 2.7   Financial Services 0.1       Common Stocks 97.7 Preferred Stocks 1.9 Preferred Securities 0.2 Bonds 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.7                       Preferred Stocks - 1.9                     Preferred Securities - 0.2                 Bonds - 0.1                                Short-Term Investments and Net Other Assets (Liabilities) - 0.1   United States 90.8 Netherlands 3.5 Belgium 1.9 Denmark 1.8 Canada 0.9 China 0.6 United Kingdom 0.2 Israel 0.2 Germany 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.8                       Netherlands - 3.5                          Belgium - 1.9                              Denmark - 1.8                              Canada - 0.9                               China - 0.6                                United Kingdom - 0.2                       Israel - 0.2                               Germany - 0.1                                  0.327 0.252 0.200 0.108 0.084 0.027 0.001 0.977 0.019 0.002 0.001 0.001 0.908 0.035 0.019 0.018 0.009 0.006 0.002 0.002 0.001 TOP HOLDINGS (% of Fund's net assets)     Boston Scientific Corp 11.7   UnitedHealth Group Inc 10.7   Eli Lilly & Co 6.0   Penumbra Inc 5.3   Danaher Corp 4.8   Masimo Corp 3.8   Stryker Corp 3.4   Insulet Corp 3.2   Cigna Group/The 2.8   Argenx SE ADR 2.6     54.3   0.117 0.107 0.060 0.053 0.048 0.038 0.034 0.032 0.028 0.026 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class Z FIJGX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>75<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.64<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 75 0.0064 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE October 2, 2018 through February 28, 2025. Initial investment of $10,000. Class Z $10,000 $9,320 $10,502 $12,529 $11,794 $10,903 $10,776 $14,491 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $9,031 $9,813 $10,973 $10,319 $9,509 $9,438 $13,452 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span> 10000 9320 10502 12529 11794 10903 10776 14491 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 9031 9813 10973 10319 9509 9438 13452 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9609 10397 13650 15887 14665 19131 22652 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 34.47% 6.65% 5.95% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.73% S&P 500® Index 18.41% 16.85% 13.60% A   From October 2, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3447 0.0665 0.0595 0.4254 0.0651 0.0473 0.1841 0.1685 0.1360 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Construction and Housing Portfolio Construction and Housing Portfolio FSHOX This annual shareholder report contains information about Construction and Housing Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Construction and Housing Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 71 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection modestly detracted from the fund's performance versus the MSCI US IMI Construction &amp; Housing 25/50 Index for the fiscal year, especially in construction &amp; engineering. An underweight in multi-family residential also hampered the fund's result, as did stock picks in home improvement retail.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in WillScot Holdings (-31%). The second-largest relative detractor was an overweight in TopBuild (-24%). An overweight in Builders FirstSource (-29%) also hurt for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was stock picking in homefurnishing retail. Security selection in building products also boosted relative performance. Also lifting the fund's relative result were picks and an underweight in homebuilding.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was a non-index stake in Williams-Sonoma (+68%). The second-largest relative contributor was an overweight in Johnson Controls International (+47%). The stock was among the fund's biggest holdings. Another notable relative contributor was an overweight in Elme Communities (+41%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the construction materials segment and a lower allocation to homebuilding.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Construction and Housing Portfolio $10,000 $9,189 $11,048 $12,271 $12,766 $14,949 $21,183 $26,044 $25,862 $34,119 $36,327 MSCI U.S. IMI Construction & Housing 25-50 Index $10,000 $9,951 $12,253 $13,724 $14,287 $16,311 $21,506 $26,196 $25,583 $34,152 $36,690 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Construction and Housing Portfolio</span> 10000 9189 11048 12271 12766 14949 21183 26044 25862 34119 36327 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Construction &amp; Housing 25-50 Index</span> 10000 9951 12253 13724 14287 16311 21506 26196 25583 34152 36690 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Construction and Housing Portfolio 6.47% 19.43% 13.77% MSCI U.S. IMI Construction & Housing 25-50 Index 7.43% 17.60% 13.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0647 0.1943 0.1377 0.0743 0.1760 0.1388 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>782,136,487</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">53</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,485,839</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">36<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 782136487 53 5485839 0.36       TOP INDUSTRIES (% of Fund's net assets) Specialty Retail 34.8   Building Products 21.1   Household Durables 12.3   Residential REITs 11.5   Construction Materials 9.6   Construction & Engineering 8.9   Chemicals 0.4   Real Estate Management & Development 0.4   Trading Companies & Distributors 0.3   Ground Transportation 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.348 0.211 0.123 0.115 0.096 0.089 0.004 0.004 0.003 0.002 0.995 0.005 1.000 TOP HOLDINGS (% of Fund's net assets)     Home Depot Inc/The 17.5   Lowe's Cos Inc 14.0   Johnson Controls International plc 5.4   Trane Technologies PLC 5.3   CRH PLC 4.6   Martin Marietta Materials Inc 3.5   Invitation Homes Inc 3.1   Sun Communities Inc 2.9   Quanta Services Inc 2.8   PulteGroup Inc 2.3     61.4   0.175 0.140 0.054 0.053 0.046 0.035 0.031 0.029 0.028 0.023 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class M FTUTX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>152<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.30<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 152 0.0130 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $9,635 $11,394 $10,893 $11,186 $12,506 $14,806 $13,837 $12,701 $12,467 $16,654 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $10,342 $11,766 $10,833 $10,811 $11,748 $13,136 $12,353 $11,383 $11,298 $16,103 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 9635 11394 10893 11186 12506 14806 13837 12701 12467 16654 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 10342 11766 10833 10811 11748 13136 12353 11383 11298 16103 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   28.91% 5.14% 5.23% Class M (without 3.50% sales charge) 33.59% 5.90% 5.61% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2891 0.0514 0.0523 0.3359 0.0590 0.0561 0.4254 0.0651 0.0488 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Fidelity Advisor® Communication Services Fund Class A FGDMX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>109<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.96<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 109 0.0096 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE November 30, 2018 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $9,786 $10,950 $16,515 $15,680 $12,453 $18,892 $23,976 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $10,165 $11,143 $16,203 $15,274 $11,667 $16,606 $21,023 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 9786 10950 16515 15680 12453 18892 23976 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 10165 11143 16203 15274 11667 16606 21023 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 10142 10972 14406 16767 15477 20190 23907 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class A (incl. 5.75% sales charge)   19.62% 15.59% 15.02% Class A (without 5.75% sales charge) 26.91% 16.97% 16.11% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 12.62% S&P 500® Index 18.41% 16.85% 14.96% A   From November 30, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1962 0.1559 0.1502 0.2691 0.1697 0.1611 0.2660 0.1354 0.1262 0.1841 0.1685 0.1496 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Leisure Portfolio Leisure Portfolio FDLSX This annual shareholder report contains information about Leisure Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Leisure Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>76<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 76 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the MSCI U.S. IMI Consumer Services 25/50 Index for the fiscal year, especially within restaurants. Stock picking in hotels, resorts &amp; cruise lines also boosted relative performance, along with positioning in leisure facilities.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Dutch Bros (+177%), and we reduced our stake. The second-largest relative contributor was our stake in Brinker International (+249%), and we decreased our holdings. Our stake in DraftKings (+3%) also contributed, and we increased our stake this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the industry index was security selection in leisure products. An overweight in casinos &amp; gaming also hampered the fund's result, as did stock selection in packaged foods &amp; meats.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's non-index stake in Restaurant Brands International (-14%) was the biggest individual relative detractor. A non-index stake in BRP (-40%) and was the second-largest relative detractor. An overweight in Caesars Entertainment (-23%) also hurt.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On February 7, 2025, Peter Belisle assumed co-management responsibilities for the fund, joining Co-Manager Kevin Francfort.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Leisure Portfolio $10,000 $9,652 $10,739 $13,396 $13,996 $14,243 $20,125 $21,642 $21,595 $26,663 $32,504 MSCI U.S. IMI Consumer Services 25-50 Index $10,000 $10,080 $11,653 $14,622 $15,767 $16,023 $20,896 $20,621 $20,582 $25,230 $29,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Leisure Portfolio</span> 10000 9652 10739 13396 13996 14243 20125 21642 21595 26663 32504 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Services 25-50 Index</span> 10000 10080 11653 14622 15767 16023 20896 20621 20582 25230 29947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Leisure Portfolio 21.91% 17.94% 12.51% MSCI U.S. IMI Consumer Services 25-50 Index 18.70% 13.32% 11.59% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2191 0.1794 0.1251 0.1870 0.1332 0.1159 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>722,054,735</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">36</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,451,317</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">43<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 722054735 36 4451317 0.43       TOP INDUSTRIES (% of Fund's net assets) Hotels, Restaurants & Leisure 94.0   Diversified Consumer Services 3.8   Leisure Products 0.9   Consumer Staples Distribution & Retail 0.8       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 95.8 Canada 2.8 United Kingdom 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.8                       Canada - 2.8                               United Kingdom - 1.4                           0.940 0.038 0.009 0.008 0.995 0.005 0.958 0.028 0.014 TOP HOLDINGS (% of Fund's net assets)     McDonald's Corp 14.0   Starbucks Corp 10.0   Booking Holdings Inc 9.9   Hilton Worldwide Holdings Inc 7.3   Marriott International Inc/MD Class A1 5.3   Royal Caribbean Cruises Ltd 4.8   Airbnb Inc Class A 4.6   Chipotle Mexican Grill Inc 4.4   Yum! Brands Inc 3.6   Carnival Corp 3.3     67.2   0.140 0.100 0.099 0.073 0.053 0.048 0.046 0.044 0.036 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Biotechnology Portfolio Biotechnology Portfolio FBIOX This annual shareholder report contains information about Biotechnology Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Biotechnology Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>64<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 64 0.0063 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI US IMI Biotechnology 25/50 Index for the fiscal year, especially within biotechnology. Also hurting our result was modest out-of-index exposure to life sciences tools &amp; services and health care technology.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Looking at market capitalization groups, underweighting the larger-cap segments of the MSCI index and overweighting the smaller-cap groups hurt relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor by far was an underweight in AbbVie (+23%). The stock was the fund's largest holding. A second notable relative detractor was an underweight in Gilead Sciences (+65%). The company was one of the fund's biggest holdings. An underweight in Amgen (+16%) also detracted. The company was among our biggest positions.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was a non-index allocation to pharmaceuticals. Out-of-index exposure to health care services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was a non-index stake in Longboard Pharmaceuticals (+166%). The stock was not held at period end. A second notable relative contributor was an overweight in Summit Therapeutics (+364%). An underweight in Biogen (-35%) also helped. The stock was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Biotechnology Portfolio $10,000 $6,965 $9,032 $10,571 $10,523 $11,425 $16,835 $11,870 $12,005 $14,766 $15,020 MSCI U.S. IMI Biotechnology 25-50 Index $10,000 $7,803 $9,562 $11,599 $11,162 $11,711 $15,453 $14,256 $15,762 $18,131 $19,376 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Biotechnology Portfolio</span> 10000 6965 9032 10571 10523 11425 16835 11870 12005 14766 15020 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Biotechnology 25-50 Index</span> 10000 7803 9562 11599 11162 11711 15453 14256 15762 18131 19376 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Biotechnology Portfolio 1.72% 5.62% 4.15% MSCI U.S. IMI Biotechnology 25-50 Index 6.87% 10.59% 6.84% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0172 0.0562 0.0415 0.0687 0.1059 0.0684 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,272,932,392</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">183</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>29,012,387</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 4272932392 183 29012387 0.38       TOP INDUSTRIES (% of Fund's net assets) Biotechnology 92.5   Pharmaceuticals 6.6   Health Care Providers & Services 0.7   Health Care Technology 0.2   Life Sciences Tools & Services 0.0   Health Care Equipment & Supplies 0.0   Consumer Staples Distribution & Retail 0.0       Common Stocks 98.5 Preferred Stocks 1.5 Short-Term Investments and Net Other Assets (Liabilities) 0.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 1.5                     Short-Term Investments and Net Other Assets (Liabilities) - 0.0   United States 86.8 Denmark 4.1 Netherlands 3.7 Belgium 2.3 Switzerland 0.8 United Kingdom 0.5 Canada 0.5 Germany 0.5 Ireland 0.4 Others 0.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.8                       Denmark - 4.1                              Netherlands - 3.7                          Belgium - 2.3                              Switzerland - 0.8                          United Kingdom - 0.5                       Canada - 0.5                               Germany - 0.5                              Ireland - 0.4                              Others - 0.4                                   0.925 0.066 0.007 0.002 0.000 0.000 0.000 0.985 0.015 0.000 0.868 0.041 0.037 0.023 0.008 0.005 0.005 0.005 0.004 0.004 TOP HOLDINGS (% of Fund's net assets)     AbbVie Inc 15.1   Amgen Inc 9.5   Krystal Biotech Inc 7.9   Vertex Pharmaceuticals Inc 4.6   Gilead Sciences Inc 4.4   Alnylam Pharmaceuticals Inc 4.0   Argenx SE ADR 2.6   Regeneron Pharmaceuticals Inc 2.5   Ascendis Pharma A/S ADR 2.4   UCB SA 2.3     55.3   0.151 0.095 0.079 0.046 0.044 0.040 0.026 0.025 0.024 0.023 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Technology Portfolio FSPTX This annual shareholder report contains information about Technology Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Technology Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.62<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 67 0.0062 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI U.S. IMI Information Technology 25/50 Index for the fiscal year, especially within semiconductors. Also hurting our result was out-of-index exposure to passenger ground transportation and stock picking in internet services &amp; infrastructure.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in ON Semiconductor (-41%). The company was one of our largest holdings. A second notable relative detractor was our non-index stake in GlobalFoundries (-29%). The company was one of the fund's biggest holdings this period. Another notable relative detractor was an underweight in Broadcom (+55%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the sector index was an overweight in semiconductors. Stock picks and an underweight in semiconductor materials &amp; equipment also boosted the fund's relative performance. Also contributing to our result was an underweight in systems software.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Nvidia (+58%). The company was the fund's largest holding. Not owning Advanced Micro Devices, an index component that returned -48%, was the second-largest relative contributor. Not owning Intel, an index component that returned approximately -44%, was another notable relative contributor.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the systems software industry and a higher allocation to communications equipment.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Technology Portfolio $10,000 $9,284 $12,860 $18,481 $17,921 $23,220 $39,444 $40,197 $33,994 $52,742 $61,134 MSCI U.S. IMI Information Technology 25-50 Index $10,000 $9,387 $12,545 $16,923 $18,179 $22,460 $34,418 $39,316 $34,606 $51,304 $59,639 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Technology Portfolio</span> 10000 9284 12860 18481 17921 23220 39444 40197 33994 52742 61134 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Information Technology 25-50 Index</span> 10000 9387 12545 16923 18179 22460 34418 39316 34606 51304 59639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Technology Portfolio 15.91% 21.36% 19.85% MSCI U.S. IMI Information Technology 25-50 Index 16.25% 21.57% 19.55% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1591 0.2136 0.1985 0.1625 0.2157 0.1955 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,063,566,477</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">100</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>97,608,234</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">44<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 16063566477 100 97608234 0.44       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 41.8   Software 22.3   Technology Hardware, Storage & Peripherals 18.9   IT Services 6.0   Communications Equipment 4.2   Broadline Retail 2.0   Ground Transportation 1.7   Electronic Equipment, Instruments & Components 1.0   Entertainment 0.9   Others 0.8       Common Stocks 98.0 Preferred Stocks 1.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.0                       Preferred Stocks - 1.6                     Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 90.6 China 3.8 Canada 2.5 Taiwan 2.0 Netherlands 0.9 United Kingdom 0.2 Estonia 0.0 Israel 0.0 Korea (South) 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.6                       China - 3.8                                Canada - 2.5                               Taiwan - 2.0                               Netherlands - 0.9                          United Kingdom - 0.2                       Estonia - 0.0                              Israel - 0.0                               Korea (South) - 0.0                            0.418 0.223 0.189 0.060 0.042 0.020 0.017 0.010 0.009 0.008 0.980 0.016 0.004 0.906 0.038 0.025 0.020 0.009 0.002 0.000 0.000 0.000 TOP HOLDINGS (% of Fund's net assets)     NVIDIA Corp 21.8   Apple Inc 16.4   Microsoft Corp 9.5   Marvell Technology Inc 4.5   Cisco Systems Inc 4.2   NXP Semiconductors NV 3.7   Servicenow Inc 3.4   ON Semiconductor Corp 2.8   Shopify Inc Class A (United States) 2.5   Okta Inc Class A 2.5     71.3   0.218 0.164 0.095 0.045 0.042 0.037 0.034 0.028 0.025 0.025 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Software and IT Services Portfolio Software and IT Services Portfolio FSCSX This annual shareholder report contains information about Software and IT Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Software and IT Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>63<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.62<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 63 0.0062 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI U.S. IMI Software &amp; Services 25/50 Index for the fiscal year, especially within application software. Also hurting our result was security selection in IT consulting &amp; other services and systems software.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor this period was avoiding Palantir Technologies, an index component that gained approximately 239%. Not owning AppLovin, an index component that gained about 445%, was the second-largest relative detractor. Another notable relative detractor this period was avoiding MicroStrategy, an index component that gained about 150%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the industry index was stock picking in transaction &amp; payment processing services. Stock selection and an overweight in internet services &amp; infrastructure also boosted relative performance. Also bolstering our relative result was an underweight in systems software.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Twilio (+99%), and we reduced the fund's holdings. The second-largest relative contributor was an underweight in Accenture (-5%). The company was one of the fund's largest holdings this period. Another notable relative contributor was our non-index stake in Alphabet (+24%). The company was one of our biggest holdings this period, though the position was reduced.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the internet services &amp; infrastructure industry and a lower allocation to interactive media &amp; services.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Software and IT Services Portfolio $10,000 $9,816 $12,940 $17,697 $19,626 $23,811 $34,717 $35,752 $30,865 $46,133 $46,997 MSCI U.S. IMI Software & Services 25-50 Index $10,000 $10,283 $13,077 $17,772 $20,054 $24,002 $34,023 $34,240 $29,504 $43,181 $47,480 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Software and IT Services Portfolio</span> 10000 9816 12940 17697 19626 23811 34717 35752 30865 46133 46997 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Software &amp; Services 25-50 Index</span> 10000 10283 13077 17772 20054 24002 34023 34240 29504 43181 47480 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Software and IT Services Portfolio 1.87% 14.57% 16.74% MSCI U.S. IMI Software & Services 25-50 Index 9.96% 14.62% 16.86% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0187 0.1457 0.1674 0.0996 0.1462 0.1686 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,268,025,868</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">50</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>67,342,944</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">14<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 10268025868 50 67342944 0.14       TOP INDUSTRIES (% of Fund's net assets) Software 74.0   IT Services 16.0   Financial Services 5.6   Interactive Media & Services 3.3   Professional Services 0.2       Common Stocks 99.1 Short-Term Investments and Net Other Assets (Liabilities) 0.9 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.1                       Short-Term Investments and Net Other Assets (Liabilities) - 0.9   United States 96.3 Ireland 2.3 France 1.1 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.3                       Ireland - 2.3                              France - 1.1                               Canada - 0.3                                   0.740 0.160 0.056 0.033 0.002 0.991 0.009 0.963 0.023 0.011 0.003 TOP HOLDINGS (% of Fund's net assets)     Microsoft Corp 24.6   Salesforce Inc 8.7   Adobe Inc 6.3   Autodesk Inc 3.3   Workday Inc Class A 2.6   Palo Alto Networks Inc 2.6   Intuit Inc 2.5   HubSpot Inc 2.4   Oracle Corp 2.3   Atlassian Corp Class A 2.3     57.6   0.246 0.087 0.063 0.033 0.026 0.026 0.025 0.024 0.023 0.023 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Fidelity Advisor® Communication Services Fund Class I FGJMX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>80<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.71<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 80 0.0071 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE November 30, 2018 through February 28, 2025. Initial investment of $10,000. Class I $10,000 $10,391 $11,661 $17,644 $16,798 $13,384 $20,365 $25,909 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $10,165 $11,143 $16,203 $15,274 $11,667 $16,606 $21,023 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 10391 11661 17644 16798 13384 20365 25909 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 10165 11143 16203 15274 11667 16606 21023 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 10142 10972 14406 16767 15477 20190 23907 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class I 27.22% 17.31% 16.45% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 12.62% S&P 500® Index 18.41% 16.85% 14.96% A   From November 30, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2722 0.1731 0.1645 0.2660 0.1354 0.1262 0.1841 0.1685 0.1496 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Materials Portfolio FSDPX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Materials Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 69 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Materials Portfolio $10,000 $8,019 $10,466 $12,032 $10,547 $9,116 $13,462 $16,017 $16,124 $16,634 $16,673 MSCI U.S. IMI Materials 25-50 Index $10,000 $8,210 $11,022 $12,643 $11,832 $11,201 $16,054 $18,757 $18,879 $20,490 $21,220 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Materials Portfolio</span> 10000 8019 10466 12032 10547 9116 13462 16017 16124 16634 16673 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 8210 11022 12643 11832 11201 16054 18757 18879 20490 21220 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Materials Portfolio 0.24% 12.84% 5.25% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 7.81% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0024 0.1284 0.0525 0.0357 0.1363 0.0781 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Gold Portfolio FSAGX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Gold Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>87<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 87 0.0068 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Gold Portfolio $10,000 $9,795 $11,791 $10,556 $10,719 $12,605 $14,743 $16,322 $13,193 $11,639 $18,245 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $9,763 $11,899 $11,061 $11,782 $14,646 $17,612 $19,604 $15,769 $15,663 $23,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Gold Portfolio</span> 10000 9795 11791 10556 10719 12605 14743 16322 13193 11639 18245 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 9763 11899 11061 11782 14646 17612 19604 15769 15663 23947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Gold Portfolio 56.75% 7.68% 6.20% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 9.13% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.5675 0.0768 0.0620 0.5289 0.1033 0.0913 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Fidelity Advisor® Materials Fund Class I FMFEX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>72<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.72<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 72 0.0072 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class I $10,000 $8,021 $10,472 $12,040 $10,554 $9,124 $13,475 $16,032 $16,139 $16,649 $16,684 MSCI U.S. IMI Materials 25-50 Index $10,000 $8,210 $11,022 $12,643 $11,832 $11,201 $16,054 $18,757 $18,879 $20,490 $21,220 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 8021 10472 12040 10554 9124 13475 16032 16139 16649 16684 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 8210 11022 12643 11832 11201 16054 18757 18879 20490 21220 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 0.21% 12.83% 5.25% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 7.81% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0021 0.1283 0.0525 0.0357 0.1363 0.0781 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Fidelity Advisor® Materials Fund Class C FMFCX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>173<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.74<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 173 0.0174 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class C $10,000 $7,939 $10,258 $11,672 $10,126 $8,663 $12,663 $14,911 $14,858 $15,286 $15,278 MSCI U.S. IMI Materials 25-50 Index $10,000 $8,210 $11,022 $12,643 $11,832 $11,201 $16,054 $18,757 $18,879 $20,490 $21,220 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 7939 10258 11672 10126 8663 12663 14911 14858 15286 15278 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 8210 11022 12643 11832 11201 16054 18757 18879 20490 21220 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) -1.69% 11.68% 4.33% Class C -0.80% 11.68% 4.33% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 7.81% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. -0.0169 0.1168 0.0433 -0.0080 0.1168 0.0433 0.0357 0.1363 0.0781 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class C FTUCX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>209<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.80<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 209 0.0180 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class C $10,000 $9,943 $11,710 $11,154 $11,411 $12,704 $14,976 $13,931 $12,724 $12,520 $16,765 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $10,342 $11,766 $10,833 $10,811 $11,748 $13,136 $12,353 $11,383 $11,298 $16,103 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 9943 11710 11154 11411 12704 14976 13931 12724 12520 16765 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 10342 11766 10833 10811 11748 13136 12353 11383 11298 16103 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 31.91% 5.39% 5.30% Class C 32.91% 5.39% 5.30% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3191 0.0539 0.0530 0.3291 0.0539 0.0530 0.4254 0.0651 0.0488 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Semiconductors Portfolio Semiconductors Portfolio FSELX This annual shareholder report contains information about Semiconductors Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Semiconductors Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.62<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 66 0.0062 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection and market selection both contributed meaningfully to the fund's performance versus the MSCI US IMI Semiconductors &amp; Semiconductor Equipment 25/50 Index for the fiscal year, led by semiconductor materials &amp; equipment. Stock picking in semiconductors also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Advanced Micro Devices (-48%). The stock was not held at period end. Not owning Intel, an index component that returned about -44%, was the second-largest relative contributor. A non-index stake in Taiwan Semiconductor Manufacturing gained 39% and notably helped. The stock was among the fund's largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the industry index was stock picking in technology hardware, storage &amp; peripherals. Also hurting our result was security selection in communications equipment and electronic components. Lastly, the fund's position in cash detracted.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Broadcom (+55%). The company was among our biggest holdings at period end. A second notable relative detractor was an overweight in ON Semiconductor (-40%). The company was one of our biggest holdings. Another notable relative detractor was our non-index stake in GlobalFoundries (-29%). The stock was one of the fund's biggest holdings.</span></div> <span style="line-height:16px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Semiconductors Portfolio $10,000 $8,956 $13,594 $18,244 $18,278 $23,032 $39,264 $48,910 $47,487 $80,413 $89,435 MSCI U.S. IMI Semiconductors & Semiconductor Equipment 25-50 Index $10,000 $9,044 $13,485 $18,452 $18,337 $22,601 $39,250 $47,741 $43,439 $79,408 $86,519 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Semiconductors Portfolio</span> 10000 8956 13594 18244 18278 23032 39264 48910 47487 80413 89435 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Semiconductors &amp; Semiconductor Equipment 25-50 Index</span> 10000 9044 13485 18452 18337 22601 39250 47741 43439 79408 86519 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Semiconductors Portfolio 11.22% 31.17% 24.49% MSCI U.S. IMI Semiconductors & Semiconductor Equipment 25-50 Index 8.95% 30.80% 24.08% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1122 0.3117 0.2449 0.0895 0.3080 0.2408 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>19,224,450,881</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>119,696,578</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 19224450881 56 119696578 0.59       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 90.4   Technology Hardware, Storage & Peripherals 3.7   Software 0.7   Communications Equipment 0.4   Electronic Equipment, Instruments & Components 0.4   Financial Services 0.1   Electrical Equipment 0.0   Metals & Mining 0.0       Common Stocks 95.1 Preferred Stocks 0.6 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 4.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.1                       Preferred Stocks - 0.6                     Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 4.3   United States 79.9 Taiwan 8.6 China 4.8 Netherlands 3.0 Israel 2.2 Japan 1.5 Canada 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 79.9                       Taiwan - 8.6                               China - 4.8                                Netherlands - 3.0                          Israel - 2.2                               Japan - 1.5                                Canada - 0.0                                   0.904 0.037 0.007 0.004 0.004 0.001 0.000 0.000 0.951 0.006 0.000 0.043 0.799 0.086 0.048 0.030 0.022 0.015 0.000 TOP HOLDINGS (% of Fund's net assets)     NVIDIA Corp 25.1   Taiwan Semiconductor Manufacturing Co Ltd ADR 8.3   Broadcom Inc 8.0   Marvell Technology Inc 7.0   Micron Technology Inc 4.9   Lam Research Corp 4.9   Monolithic Power Systems Inc 4.9   ON Semiconductor Corp 4.9   NXP Semiconductors NV 4.8   GlobalFoundries Inc 4.5     77.3   0.251 0.083 0.080 0.070 0.049 0.049 0.049 0.049 0.048 0.045 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class A FTUAX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>123<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.05<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 123 0.0105 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $9,440 $11,200 $10,746 $11,071 $12,413 $14,740 $13,815 $12,712 $12,509 $16,750 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $10,342 $11,766 $10,833 $10,811 $11,748 $13,136 $12,353 $11,383 $11,298 $16,103 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 9440 11200 10746 11071 12413 14740 13815 12712 12509 16750 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 10342 11766 10833 10811 11748 13136 12353 11383 11298 16103 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   26.21% 4.93% 5.29% Class A (without 5.75% sales charge) 33.91% 6.18% 5.92% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2621 0.0493 0.0529 0.3391 0.0618 0.0592 0.4254 0.0651 0.0488 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Materials Portfolio Fidelity Advisor® Materials Fund Class Z FIJFX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 58 0.0058 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Materials 25/50 Linked Index for the fiscal year, especially an overweight in commodity chemicals. Also hurting our result were an overweight in diversified chemicals and an underweight in gold.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Tronox Holdings (-45%). This period we notably decreased our investment. The second-largest relative detractor was an underweight in Newmont (+40%). This was a stake we established this period. Our investment in Dow (-28%) also hurt. The stock was among the fund's largest holdings this period but was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in specialty chemicals. Picks in gold and copper also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Celanese (-66%). The stock was not in the portfolio at period end. The second-largest relative contributor was an overweight in Ecolab (+21%). The stock was one of our biggest holdings. A non-index stake in Wheaton Precious Metals gained 69% and notably helped; this period we increased our stake.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to the gold and paper &amp; plastic packaging products &amp; materials industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE October 2, 2018 through February 28, 2025. Initial investment of $10,000. Class Z $10,000 $9,265 $8,021 $11,865 $14,135 $14,249 $14,722 $14,773 MSCI U.S. IMI Materials 25-50 Index $10,000 $9,364 $8,865 $12,706 $14,845 $14,942 $16,216 $16,795 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span> 10000 9265 8021 11865 14135 14249 14722 14773 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Materials 25-50 Index</span> 10000 9364 8865 12706 14845 14942 16216 16795 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9609 10397 13650 15887 14665 19131 22652 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 0.35% 12.99% 6.27% MSCI U.S. IMI Materials 25-50 Index 3.57% 13.63% 8.42% S&P 500® Index 18.41% 16.85% 13.60% A   From October 2, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0035 0.1299 0.0627 0.0357 0.1363 0.0842 0.1841 0.1685 0.1360 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>757,001,120</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,679,025</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 757001120 45 5679025 0.65       TOP INDUSTRIES (% of Fund's net assets) Chemicals 55.2   Metals & Mining 21.9   Containers & Packaging 12.9   Construction Materials 9.3   Paper & Forest Products 0.2       Common Stocks 99.5 Short-Term Investments and Net Other Assets (Liabilities) 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.5                       Short-Term Investments and Net Other Assets (Liabilities) - 0.5   United States 86.4 Canada 6.6 Brazil 2.8 Zambia 2.4 Congo Democratic Republic Of 1.6 Germany 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.4                       Canada - 6.6                               Brazil - 2.8                               Zambia - 2.4                               Congo Democratic Republic Of - 1.6         Germany - 0.2                                  0.552 0.219 0.129 0.093 0.002 0.995 0.005 0.864 0.066 0.028 0.024 0.016 0.002 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 17.9   Ecolab Inc 9.2   Air Products and Chemicals Inc 6.3   International Paper Co 4.5   Corteva Inc 4.3   CRH PLC 3.9   AptarGroup Inc 3.8   Axalta Coating Systems Ltd 3.4   Balchem Corp 3.2   Nucor Corp 3.2     59.7   0.179 0.092 0.063 0.045 0.043 0.039 0.038 0.034 0.032 0.032 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Chemicals Portfolio Chemicals Portfolio FSCHX This annual shareholder report contains information about Chemicals Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Chemicals Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 68 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Although U.S. equities gained for the 12 months ending February 28, 2025, as measured by the S&amp;P 500® index, chemical stocks considerably lagged due to weak demand, as higher-for-longer interest rates and uncertainty about tariffs clouded the business outlook.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection and market selection were the primary detractors to the fund's performance versus the MSCI US IMI Chemicals 25/50 Linked Index for the fiscal year, led by commodity chemicals. An overweight in diversified chemicals also hampered the fund's result. Also hurting our result were picks in specialty chemicals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our stake in Celanese (-65%). This period we decreased our stake in Celanese. A second notable relative detractor was an overweight in Orion (-38%). Another notable relative detractor was an overweight in Olin (-52%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an overweight in industrial gases. Stock selection in fertilizers &amp; agricultural chemicals also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Not owning Dow, an index component that returned about -28%, was the top individual relative contributor. The second-largest relative contributor was an overweight in Air Products &amp; Chemicals (+39%). The company was among the fund's largest holdings. An overweight in Axalta Coating Systems (+11%) also contributed. The stock was one of our biggest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include a lower allocation to commodity chemicals.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Chemicals Portfolio $10,000 $8,554 $11,806 $13,731 $12,207 $10,055 $14,243 $16,649 $16,832 $17,800 $17,405 MSCI U.S. IMI Chemicals 25-50 Index $10,000 $8,364 $11,157 $12,910 $12,351 $11,383 $16,105 $17,905 $18,670 $20,024 $20,005 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Chemicals Portfolio</span> 10000 8554 11806 13731 12207 10055 14243 16649 16832 17800 17405 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Chemicals 25-50 Index</span> 10000 8364 11157 12910 12351 11383 16105 17905 18670 20024 20005 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Chemicals Portfolio -2.22% 11.60% 5.70% MSCI U.S. IMI Chemicals 25-50 Index -0.10% 11.94% 7.18% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. -0.0222 0.1160 0.0570 -0.0010 0.1194 0.0718 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>510,869,206</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">26</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>3,941,623</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">6<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 510869206 26 3941623 0.06       TOP INDUSTRIES (% of Fund's net assets) Chemicals 96.3       Common Stocks 96.3 Short-Term Investments and Net Other Assets (Liabilities) 3.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.3                       Short-Term Investments and Net Other Assets (Liabilities) - 3.7   United States 97.8 Germany 2.2 Argentina 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.8                       Germany - 2.2                              Argentina - 0.0                                0.963 0.963 0.037 0.978 0.022 0.000 TOP HOLDINGS (% of Fund's net assets)     Linde PLC 24.9   Sherwin-Williams Co/The 13.2   Air Products and Chemicals Inc 8.9   Axalta Coating Systems Ltd 4.9   Element Solutions Inc 4.9   Ecolab Inc 4.9   Corteva Inc 4.7   DuPont de Nemours Inc 4.7   Westlake Corp 3.1   Chemours Co/The 2.9     77.1   0.249 0.132 0.089 0.049 0.049 0.049 0.047 0.047 0.031 0.029 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Retailing Portfolio Retailing Portfolio FSRPX This annual shareholder report contains information about Retailing Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Retailing Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>68<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.64<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 68 0.0064 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, both security and market selection were the primary detractors from the fund's performance versus the MSCI U.S. IMI Multi-Sector Retailing 25/50 Linked Index for the fiscal year, especially apparel, accessories &amp; luxury goods stocks. Picks and an underweight in the consumer staples merchandise retail category hampered the fund's result as well. Investment choices in personal care products also hurt.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an overweight in lululemon athletica (-51%), though we increased our stake in the company this period, making the stock was one of the fund's biggest holdings at period end. An underweight in Costco Wholesale (+42%), one of the fund's more sizable positions, hurt as well. Another notable relative detractor was our holding in Five Below (-55%). The stock was not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was stock selection among apparel retail firms. An underweight in distributors also boosted relative performance. Investment choices among homefurnishing retail companies helped as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's non-index stake in Aritzia gained approximately 74% and was the top individual relative contributor. This period we decreased exposure to the stock. An overweight in Tapestry (+80%), a position we established this period, also helped. A larger-than-index position in BJ's Wholesale Club (+38%) further contributed. The stock was one of the fund's largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the apparel, accessories &amp; luxury goods group and a lower allocation to apparel retail stocks.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Retailing Portfolio $10,000 $10,511 $12,318 $15,849 $16,932 $18,121 $28,976 $28,620 $24,652 $32,845 $37,041 MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index $10,000 $10,347 $12,180 $15,927 $17,177 $17,984 $29,053 $30,266 $26,729 $35,085 $40,054 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Retailing Portfolio</span> 10000 10511 12318 15849 16932 18121 28976 28620 24652 32845 37041 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index</span> 10000 10347 12180 15927 17177 17984 29053 30266 26729 35085 40054 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Retailing Portfolio 12.77% 15.37% 13.99% MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index 14.16% 17.37% 14.89% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1277 0.1537 0.1399 0.1416 0.1737 0.1489 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>3,001,828,703</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">41</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>18,848,854</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">39<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 3001828703 41 18848854 0.39       TOP INDUSTRIES (% of Fund's net assets) Specialty Retail 35.6   Broadline Retail 29.8   Consumer Staples Distribution & Retail 19.3   Textiles, Apparel & Luxury Goods 11.1   Interactive Media & Services 1.4   Household Durables 1.3   Personal Care Products 0.8       Common Stocks 99.3 Short-Term Investments and Net Other Assets (Liabilities) 0.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Short-Term Investments and Net Other Assets (Liabilities) - 0.7   United States 95.3 Brazil 2.7 Canada 1.8 Italy 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.3                       Brazil - 2.7                               Canada - 1.8                               Italy - 0.2                                    0.356 0.298 0.193 0.111 0.014 0.013 0.008 0.993 0.007 0.953 0.027 0.018 0.002 TOP HOLDINGS (% of Fund's net assets)     Amazon.com Inc 24.8   Lowe's Cos Inc 6.3   Walmart Inc 6.2   Home Depot Inc/The 6.1   Costco Wholesale Corp 5.8   TJX Cos Inc/The 4.3   O'Reilly Automotive Inc 3.4   BJ's Wholesale Club Holdings Inc 2.9   Lululemon Athletica Inc 2.8   NIKE Inc Class B 2.7     65.3   0.248 0.063 0.062 0.061 0.058 0.043 0.034 0.029 0.028 0.027 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Automotive Portfolio Automotive Portfolio FSAVX This annual shareholder report contains information about Automotive Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Automotive Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.78<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 78 0.0078 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary contributor to the fund's performance versus the FactSet Automotive Linked Index for the fiscal year, especially an overweight among automotive retail stocks. Stock picking in automobile manufacturers also helped. Further bolstering the fund's relative result was an underweight in motorcycle manufacturers.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Carvana (+206%). The stock was among the fund's biggest holdings at period end. A stake in Li Auto (-32%), which was among our biggest holdings this period, helped as well. Outsized exposure General Motors (+21%) also was beneficial. This period we decreased our position in General Motors, though it remained one of the fund's biggest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the industry index was stock picking among automotive parts &amp; equipment companies. Investment choices and an overweight in the diversified support services category also hampered the fund's result. Stock picks in distributors hurt as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our stake in Xpeng (+122%). An underweight in Tesla (+45%) hurt as well, however we decreased our position this period. Still, the company was one of our largest holdings. Smaller-than-index exposure to NIO (-19%) also pressured performance, though we increased our stake in NIO this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include higher allocations to automotive retail and diversified support services stocks.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Automotive Portfolio $10,000 $8,000 $9,344 $11,127 $10,609 $11,579 $20,633 $22,119 $18,377 $22,608 $22,716 FactSet Automotive Linked Index $10,000 $8,178 $10,202 $11,611 $10,929 $11,589 $20,552 $22,391 $18,905 $22,413 $22,548 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Automotive Portfolio</span> 10000 8000 9344 11127 10609 11579 20633 22119 18377 22608 22716 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Automotive Linked Index</span> 10000 8178 10202 11611 10929 11589 20552 22391 18905 22413 22548 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Automotive Portfolio 0.48% 14.43% 8.55% FactSet Automotive Linked Index 0.60% 14.24% 8.47% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0048 0.1443 0.0855 0.0060 0.1424 0.0847 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>68,131,872</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">36</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>524,960</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 68131872 36 524960 0.58       TOP INDUSTRIES (% of Fund's net assets) Automobiles 47.9   Specialty Retail 32.0   Automobile Components 10.4   Commercial Services & Supplies 5.9   Distributors 2.8   Trading Companies & Distributors 1.0   Electronic Equipment, Instruments & Components 0.0   Ground Transportation 0.0       Common Stocks 100.0 Preferred Stocks 0.0 Short-Term Investments and Net Other Assets (Liabilities) 0.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.0                      Preferred Stocks - 0.0                     Short-Term Investments and Net Other Assets (Liabilities) - 0.0   United States 65.4 Japan 13.7 China 7.9 Italy 6.6 Bailiwick Of Jersey 4.2 Canada 1.4 Sweden 0.8 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 65.4                       Japan - 13.7                               China - 7.9                                Italy - 6.6                                Bailiwick Of Jersey - 4.2                  Canada - 1.4                               Sweden - 0.8                                   0.479 0.320 0.104 0.059 0.028 0.010 0.000 0.000 1.000 0.000 0.000 0.654 0.137 0.079 0.066 0.042 0.014 0.008 TOP HOLDINGS (% of Fund's net assets)     O'Reilly Automotive Inc 10.6   Toyota Motor Corp ADR 9.6   Tesla Inc 7.8   Ferrari NV 6.6   AutoZone Inc 6.2   General Motors Co 6.0   Aptiv PLC 4.2   Honda Motor Co Ltd ADR 4.1   Copart Inc 4.0   Ford Motor Co 4.0     63.1   0.106 0.096 0.078 0.066 0.062 0.060 0.042 0.041 0.040 0.040 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Fidelity Advisor® Consumer Staples Fund Class Z FIJCX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>60<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.58<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 60 0.0058 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the life of Fund?    CUMULATIVE PERFORMANCE October 2, 2018 through February 28, 2025. Initial investment of $10,000. Class Z $10,000 $10,079 $10,745 $12,517 $14,932 $14,769 $15,554 $16,666 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,114 $10,842 $12,535 $15,026 $14,874 $16,207 $18,813 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652   2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span> 10000 10079 10745 12517 14932 14769 15554 16666 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10114 10842 12535 15026 14874 16207 18813 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9609 10397 13650 15887 14665 19131 22652 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 7.15% 9.18% 8.29% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 10.36% S&P 500® Index 18.41% 16.85% 13.60% A   From October 2, 2018 Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0715 0.0918 0.0829 0.1608 0.1165 0.1036 0.1841 0.1685 0.1360 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Communication Services Portfolio Communication Services Portfolio FBMPX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Communication Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>76<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.67<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 76 0.0067 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection contributed to the fund's performance versus the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index for the fiscal year, led by interactive home entertainment. Picks in integrated telecommunication services and movies &amp; entertainment also helped. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was our non-index stake in Sea (+159%), and we decreased our stake this period. The second-largest relative contributor was an underweight in Comcast (-14%), and we decreased our stake this period. A non-index stake in Spotify Technology (+135%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest detractor from performance versus the sector index was security selection in alternative carriers. Also hurting our result was non-index exposure to passenger ground transportation and semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was our non-index stake in Uber Technologies (-14%). The stock was not held at period end. A second notable relative detractor was an underweight in Fox (+98%), a position we added this period. </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the cable &amp; satellite industry and a higher allocation to interactive home entertainment.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On July 26, 2024, Priyanshu Bakshi assumed co-management responsibilities for the fund, joining Co-Manager Matt Drukker. On December 31, 2024, Matt Drukker came off the fund.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Communication Services Portfolio $10,000 $8,912 $11,305 $11,776 $12,731 $14,287 $21,614 $20,580 $16,390 $24,934 $31,737 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $8,882 $11,189 $11,044 $11,970 $13,121 $19,080 $17,985 $13,739 $19,554 $24,756 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Communication Services Portfolio</span> 10000 8912 11305 11776 12731 14287 21614 20580 16390 24934 31737 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index</span> 10000 8882 11189 11044 11970 13121 19080 17985 13739 19554 24756 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Communication Services Portfolio 27.28% 17.31% 12.24% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 26.60% 13.54% 9.49% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.2728 0.1731 0.1224 0.2660 0.1354 0.0949 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,887,809,083</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">42</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>10,666,617</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">83<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1887809083 42 10666617 0.83       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 47.2   Entertainment 26.4   Media 6.4   Diversified Telecommunication Services 5.6   Wireless Telecommunication Services 4.9   Broadline Retail 4.6   Semiconductors & Semiconductor Equipment 2.2   Capital Markets 0.4   Automobiles 0.1   Others 0.1       Common Stocks 97.8 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 2.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.8                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 2.1   United States 95.7 China 1.5 Singapore 1.1 Japan 0.9 Taiwan 0.5 United Kingdom 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.7                       China - 1.5                                Singapore - 1.1                            Japan - 0.9                                Taiwan - 0.5                               United Kingdom - 0.3                           0.472 0.264 0.064 0.056 0.049 0.046 0.022 0.004 0.001 0.001 0.978 0.001 0.021 0.957 0.015 0.011 0.009 0.005 0.003 TOP HOLDINGS (% of Fund's net assets)     Meta Platforms Inc Class A 25.0   Alphabet Inc Class A 20.2   Netflix Inc 5.0   Walt Disney Co/The 5.0   T-Mobile US Inc 4.9   AT&T Inc 4.9   Amazon.com Inc 3.1   Take-Two Interactive Software Inc 2.6   Warner Bros Discovery Inc 2.3   Charter Communications Inc Class A 2.2     75.2   0.250 0.202 0.050 0.050 0.049 0.049 0.031 0.026 0.023 0.022 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Staples Portfolio Fidelity Advisor® Consumer Staples Fund Class M FDTGX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>126<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.22<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 126 0.0122 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, market selection was the primary detractor from the fund's performance versus the MSCI US IMI Consumer Staples 25/50 Index for the fiscal year, especially an underweight in consumer staples merchandise retail. Also hurting our result were overweights in distillers &amp; vintners and personal care products.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Costco Wholesale (+42%). This was a position we established this period. The second-largest relative detractor was an overweight in Estee Lauder (-51%). This period we increased our stake in Estee Lauder. The company was one of the fund's largest holdings. An underweight in Walmart (+70%) also hurt. The company was among our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the biggest contributor to performance versus the sector index was stock selection in soft drinks &amp; non-alcoholic beverages. Picks in personal care products and distillers &amp; vintners also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in Kenvue (+29%). This period we decreased our investment in Kenvue. The company was among our biggest holdings this period. The second-largest relative contributor was an underweight in Dollar General (-48%). The stock was not held at period end. An overweight in Coca-Cola (+22%) also contributed. The stock was the fund's biggest holding at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to the tobacco industry and a higher allocation to consumer staples merchandise retail.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $9,285 $10,363 $10,162 $10,102 $10,696 $12,374 $14,665 $14,409 $15,075 $16,049 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $10,343 $11,601 $11,557 $12,187 $13,064 $15,104 $18,105 $17,922 $19,529 $22,668 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 9285 10363 10162 10102 10696 12374 14665 14409 15075 16049 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Consumer Staples 25-50 Index</span> 10000 10343 11601 11557 12187 13064 15104 18105 17922 19529 22668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   2.73% 7.68% 4.84% Class M (without 3.50% sales charge) 6.46% 8.45% 5.22% MSCI U.S. IMI Consumer Staples 25-50 Index 16.08% 11.65% 8.53% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0273 0.0768 0.0484 0.0646 0.0845 0.0522 0.1608 0.1165 0.0853 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,268,078,291</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,058,569</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">45<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1268078291 35 9058569 0.45       TOP INDUSTRIES (% of Fund's net assets) Beverages 41.1   Food Products 16.9   Household Products 16.7   Consumer Staples Distribution & Retail 16.5   Personal Care Products 6.8   Tobacco 1.6       Common Stocks 99.6 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 96.1 United Kingdom 3.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.1                       United Kingdom - 3.9                           0.411 0.169 0.167 0.165 0.068 0.016 0.996 0.004 0.961 0.039 TOP HOLDINGS (% of Fund's net assets)     Coca-Cola Co/The 14.5   Procter & Gamble Co/The 12.9   Keurig Dr Pepper Inc 10.3   Walmart Inc 8.2   Constellation Brands Inc Class A 4.8   Estee Lauder Cos Inc/The Class A 4.2   JM Smucker Co 3.9   Energizer Holdings Inc 3.5   Mondelez International Inc 3.3   Target Corp 3.3     68.9   0.145 0.129 0.103 0.082 0.048 0.042 0.039 0.035 0.033 0.033 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Gold Portfolio Fidelity Advisor® Gold Fund Class A FGDAX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>125<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.97<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 125 0.0097 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, led by choices in the gold industry. An out-of-index allocation to outperforming silver producers also boosted relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's top individual relative contributor was an overweight in Agnico Eagle Mines (+104%). We trimmed our stake in Agnico, but it was the fund's largest holding at period end. A second notable relative contributor was our non-index stake in Gatos Silver (+137%). The stock was not held at period end. An overweight in Lundin Gold (+142%) also meaningfully contributed, and although we trimmed the position this period, the company was one of the fund's largest holdings as of February 28.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from the fund's performance versus the industry index was non-index exposure to the diversified metals &amp; mining, precious metals &amp; minerals and diversified financial services groups.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The biggest individual relative detractor was an underweight in Kinross Gold (+122%). A second notable relative detractor was our non-index stake in Ascot Resources (-84%). Another notable relative detractor was our larger-than-index stake in I-80 Gold (-63%). Both I-80 Gold and Ascot Resources were not held at period end.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>During the period, Ryan Oldham and Boris Shepov assumed co-management responsibilities for the fund, ultimately replacing Colin Anderson.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $9,212 $11,051 $9,861 $9,980 $11,699 $13,640 $15,055 $12,131 $10,665 $16,679 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $9,763 $11,899 $11,061 $11,782 $14,646 $17,612 $19,604 $15,769 $15,663 $23,947 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 9212 11051 9861 9980 11699 13640 15055 12131 10665 16679 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P® Global BMI Gold Capped 20/45 Linked Index</span> 10000 9763 11899 11061 11782 14646 17612 19604 15769 15663 23947 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   47.39% 6.09% 5.25% Class A (without 5.75% sales charge) 56.39% 7.35% 5.87% S&P® Global BMI Gold Capped 20/45 Linked Index 52.89% 10.33% 9.13% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.4739 0.0609 0.0525 0.5639 0.0735 0.0587 0.5289 0.1033 0.0913 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,574,667,911</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">56</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>9,281,989</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">17<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1574667911 56 9281989 0.17       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 98.6   Financial Services 0.0     *Includes gold bullion and/or silver bullion.   Common Stocks 97.6 Other Investments 1.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 97.6                       Other Investments - 1.0                    Short-Term Investments and Net Other Assets (Liabilities) - 1.4   Canada 63.6 United States 12.2 Brazil 10.7 Australia 6.2 United Kingdom 2.8 South Africa 2.1 China 1.5 Burkina Faso 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 63.6                              United States - 12.2                       Brazil - 10.7                              Australia - 6.2                            United Kingdom - 2.8                       South Africa - 2.1                         China - 1.5                                Burkina Faso - 0.9                             0.986 0.000 0.976 0.010 0.014 0.636 0.122 0.107 0.062 0.028 0.021 0.015 0.009 TOP HOLDINGS (% of Fund's net assets)     Agnico Eagle Mines Ltd/CA 16.0   Franco-Nevada Corp 11.8   Wheaton Precious Metals Corp 10.7   Newmont Corp 8.4   Alamos Gold Inc Class A 4.9   Barrick Gold Corp 4.0   Osisko Gold Royalties Ltd 3.8   Northern Star Resources Ltd 3.8   Anglogold Ashanti Plc 2.8   Orla Mining Ltd 2.8     69.0   0.160 0.118 0.107 0.084 0.049 0.040 0.038 0.038 0.028 0.028 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Financials Portfolio Financials Portfolio FIDSX This annual shareholder report contains information about Financials Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Financials Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>81<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.69<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 81 0.0069 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary contributor to the fund's performance versus the MSCI US IMI Financials 5% Capped Linked Index for the fiscal year, led by investment banking &amp; brokerage firms. Stock picking and an overweight in regional banks also boosted the fund's relative performance. Investment choices among insurance brokers helped as well.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an overweight in LPL Financial (+79%), a holding we established this period. Outsized exposure to in Baldwin Insurance Group (+48%) also helped, as did an overweight stake in Virtu Financial (+108%). This period we increased our stake in Virtu Financial.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary detractor from performance versus the sector index was an overweight in the reinsurance industry. Also hurting our result was stock selection among property &amp; casualty insurance and life &amp; health insurance companies.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Global Payments (-19%). Not owning Goldman Sachs, an index component that gained approximately 63%, hurt as well. Another notable relative detractor this period was our decision to avoid JPMorgan Chase, an index component that rose about 45%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the consumer finance and investment banking &amp; brokerage industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Financials Portfolio $10,000 $8,582 $11,910 $14,093 $13,120 $13,620 $17,419 $21,333 $20,628 $23,134 $30,783 MSCI U.S. IMI Financials 5% Capped Linked Index $10,000 $8,948 $13,100 $15,197 $14,586 $14,626 $18,274 $22,277 $21,192 $23,966 $31,503 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Financials Portfolio</span> 10000 8582 11910 14093 13120 13620 17419 21333 20628 23134 30783 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Financials 5% Capped Linked Index</span> 10000 8948 13100 15197 14586 14626 18274 22277 21192 23966 31503 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Financials Portfolio 33.07% 17.71% 11.90% MSCI U.S. IMI Financials 5% Capped Linked Index 31.45% 16.59% 12.16% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3307 0.1771 0.1190 0.3145 0.1659 0.1216 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,116,331,808</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">66</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>5,520,395</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1116331808 66 5520395 0.35       TOP INDUSTRIES (% of Fund's net assets) Banks 30.2   Capital Markets 23.2   Financial Services 20.9   Insurance 17.8   Consumer Finance 6.9   Professional Services 0.7       Common Stocks 99.7 Short-Term Investments and Net Other Assets (Liabilities) 0.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Short-Term Investments and Net Other Assets (Liabilities) - 0.3   United States 95.8 United Kingdom 2.3 Puerto Rico 1.2 Grand Cayman (UK Overseas Ter) 0.4 Mexico 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.8                       United Kingdom - 2.3                       Puerto Rico - 1.2                          Grand Cayman (UK Overseas Ter) - 0.4       Mexico - 0.3                                   0.302 0.232 0.209 0.178 0.069 0.007 0.997 0.003 0.958 0.023 0.012 0.004 0.003 TOP HOLDINGS (% of Fund's net assets)     Mastercard Inc Class A 8.9   Wells Fargo & Co 6.0   Bank of America Corp 5.0   Citigroup Inc 3.9   Reinsurance Group of America Inc 3.5   Chubb Ltd 3.0   Charles Schwab Corp/The 2.6   Visa Inc Class A 2.4   Morgan Stanley 2.4   Marsh & McLennan Cos Inc 2.3     40.0   0.089 0.060 0.050 0.039 0.035 0.030 0.026 0.024 0.024 0.023 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. FinTech Portfolio FinTech Portfolio FSVLX This annual shareholder report contains information about FinTech Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">FinTech Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>81<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.75<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 81 0.0075 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the FactSet Financial Technologies Linked Index for the fiscal year, especially within transaction &amp; payment processing services. Security selection in application software also hampered the fund's result. Also detracting from our result were picks and an overweight in consumer finance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an overweight in Flywire (-60%). A second notable relative detractor was our stake in Guidewire Software (+6%). This was a position we established this period. Our stake in Intuit (-7%) also detracted. The stock was among our biggest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the industry index was an underweight in application software. Underweights in financial exchanges &amp; data and interactive media &amp; services also boosted the fund's relative performance.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Edenred (-34%). The stock was not held at period end. The second-largest relative contributor was an overweight in Discover Financial Services (+64%). The company was one of our biggest holdings. An overweight in Intapp (+93%) also contributed. This was a position we established this period.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include increased exposure to the consumer finance and internet services &amp; infrastructure industries.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The fund's international holdings contributed overall, despite a broadly stronger U.S. dollar.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. FinTech Portfolio $10,000 $8,599 $11,485 $13,560 $14,215 $14,860 $18,121 $17,984 $15,375 $19,070 $22,351 FactSet Financial Technologies Linked Index $10,000 $8,389 $11,413 $12,795 $13,589 $14,086 $16,773 $16,734 $14,124 $17,812 $21,703 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FinTech Portfolio</span> 10000 8599 11485 13560 14215 14860 18121 17984 15375 19070 22351 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Financial Technologies Linked Index</span> 10000 8389 11413 12795 13589 14086 16773 16734 14124 17812 21703 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year FinTech Portfolio 17.20% 8.51% 8.38% FactSet Financial Technologies Linked Index 21.85% 9.03% 8.06% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.1720 0.0851 0.0838 0.2185 0.0903 0.0806 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>123,225,574</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">26</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>718,499</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">44<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 123225574 26 718499 0.44       TOP INDUSTRIES (% of Fund's net assets) Financial Services 54.7   Consumer Finance 23.5   Software 11.7   IT Services 6.6   Professional Services 2.2       Common Stocks 98.7 Short-Term Investments and Net Other Assets (Liabilities) 1.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.7                       Short-Term Investments and Net Other Assets (Liabilities) - 1.3   United States 88.9 Canada 6.6 Netherlands 4.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 88.9                       Canada - 6.6                               Netherlands - 4.5                              0.547 0.235 0.117 0.066 0.022 0.987 0.013 0.889 0.066 0.045 TOP HOLDINGS (% of Fund's net assets)     Visa Inc Class A 13.0   Mastercard Inc Class A 12.1   American Express Co 10.6   Intuit Inc 7.8   Shopify Inc Class A 6.6   Fiserv Inc 4.9   Capital One Financial Corp 4.9   Discover Financial Services 4.8   Adyen NV 4.5   Corpay Inc 4.2     73.4   0.130 0.121 0.106 0.078 0.066 0.049 0.049 0.048 0.045 0.042 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Energy Portfolio FSENX This annual shareholder report contains information about Energy Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-800-544-8544 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Energy Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>66<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.65<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 66 0.0065 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, stock selection and industry positioning detracted from the fund's performance versus the MSCI U.S. IMI Energy 25/50 Index for the fiscal year, led by an underweight in oil &amp; gas storage &amp; transportation. Also hurting our result were stock picks in the integrated oil &amp; gas and oil &amp; gas exploration &amp; production industries.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>A non-index stake in Cenovus Energy (-18%) was the fund's largest individual relative detractor. The stock was one of our biggest holdings. The second-largest relative detractor this period was avoiding Williams Companies, an index component that gained 69%. A non-index stake in Canadian Natural Resources returned -16% and notably hurt relative performance. The stock was one of our largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributor to performance versus the sector index was our-of-index exposure to the independent power producers &amp; energy traders category. Security selection and an underweight in oil &amp; gas refining &amp; marketing also boosted the fund's relative result, as did an underweight in oil &amp; gas exploration &amp; production stocks.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>A non-index stake in Vistra gained 148% and was the fund's top individual relative contributor. The second-largest relative contributor was our non-index stake in Energy Transfer (+42%). Another notable relative contributor was an overweight in Cheniere Energy (+49%). All three contributors were among the fund's largest holdings.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include a higher allocation to oil &amp; gas storage &amp; transportation.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>On November 11, 2024, Kristen Dougherty assumed co-management responsibilities for the fund, joining Co-Manager Maurice FitzMaurice.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Energy Portfolio $10,000 $7,239 $9,848 $9,330 $8,649 $6,293 $7,112 $11,264 $14,037 $14,973 $15,504 MSCI U.S. IMI Energy 25-50 Index $10,000 $7,238 $9,386 $8,982 $8,913 $6,415 $7,351 $11,310 $14,036 $14,968 $16,291 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Energy Portfolio</span> 10000 7239 9848 9330 8649 6293 7112 11264 14037 14973 15504 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IMI Energy 25-50 Index</span> 10000 7238 9386 8982 8913 6415 7351 11310 14036 14968 16291 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Energy Portfolio 3.55% 19.76% 4.48% MSCI U.S. IMI Energy 25-50 Index 8.83% 20.49% 5.00% S&P 500® Index 18.41% 16.85% 12.98%   Visit www.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.0355 0.1976 0.0448 0.0883 0.2049 0.0500 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,956,720,708</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">36</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,744,795</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">15<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 1956720708 36 13744795 0.15       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 82.4   Energy Equipment & Services 13.1   Independent Power and Renewable Electricity Producers 2.6   Machinery 0.9       Common Stocks 99.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.0                       Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 86.0 Canada 10.7 United Kingdom 3.0 Norway 0.2 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.0                       Canada - 10.7                              United Kingdom - 3.0                       Norway - 0.2                               France - 0.1                                   0.824 0.131 0.026 0.009 0.990 0.010 0.860 0.107 0.030 0.002 0.001 TOP HOLDINGS (% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 5.8   Cheniere Energy Inc 5.4   Energy Transfer LP 5.1   Cenovus Energy Inc 4.5   Schlumberger NV 4.5   Marathon Petroleum Corp 4.4   Canadian Natural Resources Ltd 4.0   Valero Energy Corp 3.4   Occidental Petroleum Corp 3.4     65.3   0.248 0.058 0.054 0.051 0.045 0.045 0.044 0.040 0.034 0.034 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-800-544-8544</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. </span></div> <div style="text-align:left;text-align-last:auto;"></div> 2025-02-28 This report describes changes to the Fund that occurred during the reporting period. Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class I FTUIX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2024 to February 28, 2025. annual shareholder report You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com. fundresearch.fidelity.com/prospectus/sec 1-877-208-0098 fidfunddocuments@fidelity.com <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What were your Fund costs for the last year?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(based on hypothetical $10,000 investment)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">FUND COST (PREVIOUS YEAR)</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:45%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> </td> <td style="width:24%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs of a $10,000 investment</span></div> </td> <td style="width:30%; background-color:#dfe0e4;border:1px solid #dfe0e4;padding:0px 0px 0px 0px;" valign="bottom"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">Costs paid as a percentage of a $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:45%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:24%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>88<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:30%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.75<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 88 0.0075 <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">What affected the Fund's performance this period?</span> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> </span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>U.S. equities gained for the 12 months ending February 28, 2025, driven by strong corporate profits, the potential for artificial intelligence and the Federal Reserve's pivot to cutting interest rates.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Against this backdrop, security selection was the primary detractor from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, especially within alternative carriers. Also hurting our result was security selection in cable &amp; satellite and wireless telecommunication services.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The largest individual relative detractor was an underweight in Lumen Technologies (+191%). This period we decreased our investment in the stock. A non-index stake in Comcast returned -13% and hurt. An overweight in Gogo (-10%) detracted. The stock was among the fund's biggest holdings for the 12 months.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>In contrast, the primary contributors to performance versus the industry index were picks and an underweight in integrated telecommunication services. An overweight in wireless telecommunication services also boosted the fund's relative result.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>The top individual relative contributor was an underweight in Shenandoah Telecom (-42%). This period we increased our stake in the stock. A second notable relative contributor was an overweight in Telephone &amp; Data Systems (+139%). The company was among our biggest holdings. An underweight in Bandwidth.com (-22%) also helped.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right:0px;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;">•<span style="padding-right:10px"></span>Notable changes in positioning include decreased exposure to cable &amp; satellite.</span></div> <div style="text-align:left;text-align-last:auto;"></div> How did the Fund perform over the past 10 years?    CUMULATIVE PERFORMANCE February 28, 2015 through February 28, 2025. Initial investment of $10,000. Class I $10,000 $10,051 $11,964 $11,515 $11,900 $13,385 $15,945 $14,994 $13,845 $13,671 $18,359 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $10,342 $11,766 $10,833 $10,811 $11,748 $13,136 $12,353 $11,383 $11,298 $16,103 S&P 500® Index $10,000 $9,381 $11,724 $13,729 $14,371 $15,549 $20,414 $23,759 $21,932 $28,611 $33,877   2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 10051 11964 11515 11900 13385 15945 14994 13845 13671 18359 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">MSCI U.S. IM Telecommunication Services 25-50 Index</span> 10000 10342 11766 10833 10811 11748 13136 12353 11383 11298 16103 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 9381 11724 13729 14371 15549 20414 23759 21932 28611 33877 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 34.29% 6.52% 6.26% MSCI U.S. IM Telecommunication Services 25-50 Index 42.54% 6.51% 4.88% S&P 500® Index 18.41% 16.85% 12.98%   Visit institutional.fidelity.com for more recent performance information.   The Fund's past performance is not a good predictor of the Fund's future performance.  The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. 0.3429 0.0652 0.0626 0.4254 0.0651 0.0488 0.1841 0.1685 0.1298 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:italic;font-weight:normal;">The Fund's past performance is not a good predictor of the Fund's future performance.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</span> <span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">Key Fund Statistics</span> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">(as of February 28, 2025)</span></div> <div><span style="font-size:11px;"> </span></div><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:right;text-align-last:auto;"><table cellpadding="0" cellspacing="1" style="border-collapse:separate;border-style:none;margin:auto;" width="100%"><tr><td style="width:63%; " valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:bold;">KEY FACTS</span></div> <div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;"> <span> </span></span></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:32%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fund Size</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>220,335,596</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">29</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>1,339,136</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="middle"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Portfolio Turnover</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">40<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">%</span></div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> 220335596 29 1339136 0.40       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 80.0   Wireless Telecommunication Services 11.8   Media 4.2   IT Services 0.6   Specialized REITs 0.2   Construction & Engineering 0.0       Common Stocks 96.8 Short-Term Investments and Net Other Assets (Liabilities) 3.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.8                       Short-Term Investments and Net Other Assets (Liabilities) - 3.2   United States 92.8 Belgium 3.5 Puerto Rico 3.5 United Kingdom 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.8                       Belgium - 3.5                              Puerto Rico - 3.5                          United Kingdom - 0.2                           0.800 0.118 0.042 0.006 0.002 0.000 0.968 0.032 0.928 0.035 0.035 0.002 TOP HOLDINGS (% of Fund's net assets)     AT&T Inc 24.6   Verizon Communications Inc 24.0   Iridium Communications Inc 4.7   T-Mobile US Inc 4.6   Cogent Communications Holdings Inc 4.2   Frontier Communications Parent Inc 4.0   Liberty Global Ltd Class C 3.5   Liberty Latin America Ltd Class C 3.5   Telephone and Data Systems Inc 3.4   Globalstar Inc 3.0     79.5   0.246 0.240 0.047 0.046 0.042 0.040 0.035 0.035 0.034 0.030 <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:16px;color:#368627;font-style:normal;font-weight:bold;">How has the Fund changed?</span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;border-style:none;" width="100%"><tr><td style="width:50%; background-color:#ebf3e9;border-right:2px dashed #368627;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div></div> <div style="text-align:left;text-align-last:auto;"></div> </td> <td style="width:50%; background-color:#ebf3e9;padding:19px 19px 19px 19px;" valign="top"><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> </table> </div> <div style="text-align:left;text-align-last:auto;"></div> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">This is a summary of certain changes to the Fund since March 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by</span><span style="font-family:'Fidelity Sans';font-size:12px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">April 29, 2025 at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or upon request at </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span><span style="font-family:'Fidelity Sans';font-size:0px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> or by sending an e-mail to </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">.</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">fundresearch.fidelity.com/prospectus/sec</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">1-877-208-0098</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">fidfunddocuments@fidelity.com</span> <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">The fees associated with this class changed during the reporting year. The variations in class fees are primarily the result of the following changes:</span> <div style="text-align:left;text-align-last:auto;"></div> <ul style="color:#000000;list-style-type:disc;margin:0px 0px 0px 25px;padding:0px;"><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Management fee</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Operating expenses</span></li><li style="margin:5px 0px 2px 24px;padding:0px 0px 0px 0px;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expense reductions</span></li></ul> <span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> <div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> The fund's transfer agent and pricing &amp; bookkeeping fees were changed to a fixed rate effective December 1, 2023. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing &amp; bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee.</span></div> <div style="text-align:left;text-align-last:auto;"></div>