0000320351 fmr:C000020463Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020463_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020463_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020463_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020463_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020463_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020463_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020463_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020463Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020463Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020463Member 2026-02-28 0000320351 fmr:C000020463Member country:US 2026-02-28 0000320351 fmr:C000020463Member country:CA 2026-02-28 0000320351 fmr:C000020463Member country:FI 2026-02-28 0000320351 fmr:C000020463Member country:GB 2026-02-28 0000320351 fmr:C000020463Member country:SE 2026-02-28 0000320351 fmr:C000020463Member country:SG 2026-02-28 0000320351 fmr:C000020463Member country:MX 2026-02-28 0000320351 fmr:C000020463Member country:TW 2026-02-28 0000320351 fmr:C000020463Member country:BR 2026-02-28 0000320351 fmr:C000020463Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000020463Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020463Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020462Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020462_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020462_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020462_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020462_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020462_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020462_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020462_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020462Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020462Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020462Member 2026-02-28 0000320351 fmr:C000020462Member country:US 2026-02-28 0000320351 fmr:C000020462Member country:DE 2026-02-28 0000320351 fmr:C000020462Member country:CA 2026-02-28 0000320351 fmr:C000020462Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020462Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020461Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020461_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020461_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020461_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020461_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020461_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020461_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020461_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020461Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020461Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020461Member 2026-02-28 0000320351 fmr:C000020461Member country:US 2026-02-28 0000320351 fmr:C000020461Member country:CA 2026-02-28 0000320351 fmr:C000020461Member country:PA 2026-02-28 0000320351 fmr:C000020461Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020461Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020459Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020459_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020459_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020459_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020459_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020459_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020459_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020459_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020459Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020459Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020459Member 2026-02-28 0000320351 fmr:C000020459Member country:US 2026-02-28 0000320351 fmr:C000020459Member country:PR 2026-02-28 0000320351 fmr:C000020459Member country:BE 2026-02-28 0000320351 fmr:C000020459Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020459Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000205045Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205045_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205045_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205045_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205045_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205045_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205045Member 2018-10-02 2026-02-28 0000320351 fmr:C000205045Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205045Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205045Member 2026-02-28 0000320351 fmr:C000205045Member country:US 2026-02-28 0000320351 fmr:C000205045Member country:PR 2026-02-28 0000320351 fmr:C000205045Member country:BE 2026-02-28 0000320351 fmr:C000205045Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000205045Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040634Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040634_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040634_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040634_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040634_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040634_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040634_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040634_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040634_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040634Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040634Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040634Member 2026-02-28 0000320351 fmr:C000040634Member country:US 2026-02-28 0000320351 fmr:C000040634Member country:PR 2026-02-28 0000320351 fmr:C000040634Member country:BE 2026-02-28 0000320351 fmr:C000040634Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040634Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040635Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040635_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040635_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040635_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040635_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040635_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040635_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040635_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040635Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040635Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040635Member 2026-02-28 0000320351 fmr:C000040635Member country:US 2026-02-28 0000320351 fmr:C000040635Member country:PR 2026-02-28 0000320351 fmr:C000040635Member country:BE 2026-02-28 0000320351 fmr:C000040635Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040635Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040633Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040633_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040633_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040633_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040633_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040633_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040633_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040633_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040633_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040633Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040633Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040633Member 2026-02-28 0000320351 fmr:C000040633Member country:US 2026-02-28 0000320351 fmr:C000040633Member country:PR 2026-02-28 0000320351 fmr:C000040633Member country:BE 2026-02-28 0000320351 fmr:C000040633Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040633Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040631Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040631_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040631_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040631_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040631_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040631_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040631_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040631_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040631_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040631Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040631Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040631Member 2026-02-28 0000320351 fmr:C000040631Member country:US 2026-02-28 0000320351 fmr:C000040631Member country:PR 2026-02-28 0000320351 fmr:C000040631Member country:BE 2026-02-28 0000320351 fmr:C000040631Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040631Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020458Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020458_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020458_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020458_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020458_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020458_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020458_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020458_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020458Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020458Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020458Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000020458Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000020458Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020458Member 2026-02-28 0000320351 fmr:C000020458Member country:US 2026-02-28 0000320351 fmr:C000020458Member country:NL 2026-02-28 0000320351 fmr:C000020458Member country:CA 2026-02-28 0000320351 fmr:C000020458Member country:TW 2026-02-28 0000320351 fmr:C000020458Member country:GB 2026-02-28 0000320351 fmr:C000020458Member country:CN 2026-02-28 0000320351 fmr:C000020458Member country:IN 2026-02-28 0000320351 fmr:C000020458Member country:EE 2026-02-28 0000320351 fmr:C000020458Member country:IL 2026-02-28 0000320351 fmr:C000020458Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020458Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020467Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020467_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020467_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020467_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020467_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020467_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020467_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020467_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020467Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020467Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020467Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020467Member 2026-02-28 0000320351 fmr:C000020467Member country:US 2026-02-28 0000320351 fmr:C000020467Member country:JP 2026-02-28 0000320351 fmr:C000020467Member country:KR 2026-02-28 0000320351 fmr:C000020467Member country:TW 2026-02-28 0000320351 fmr:C000020467Member country:FI 2026-02-28 0000320351 fmr:C000020467Member country:CN 2026-02-28 0000320351 fmr:C000020467Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020467Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020457Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020457_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020457_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020457_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020457_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020457_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020457_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020457_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020457Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TI4Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020457Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020457Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020457Member 2026-02-28 0000320351 fmr:C000020457Member country:US 2026-02-28 0000320351 fmr:C000020457Member country:CA 2026-02-28 0000320351 fmr:C000020457Member country:DE 2026-02-28 0000320351 fmr:C000020457Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020457Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020432Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020432_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020432_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020432_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020432_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020432_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020432_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020432_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020432Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TI6Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020432Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020432Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000020432Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000020432Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020432Member 2026-02-28 0000320351 fmr:C000020432Member country:US 2026-02-28 0000320351 fmr:C000020432Member country:NL 2026-02-28 0000320351 fmr:C000020432Member country:IL 2026-02-28 0000320351 fmr:C000020432Member country:JP 2026-02-28 0000320351 fmr:C000020432Member country:TW 2026-02-28 0000320351 fmr:C000020432Member country:CA 2026-02-28 0000320351 fmr:C000020432Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020432Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020456Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020456_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020456_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020456_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020456_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020456_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020456_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020456_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020456Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TI4Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020456Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020456Member 2026-02-28 0000320351 fmr:C000020456Member country:US 2026-02-28 0000320351 fmr:C000020456Member country:BR 2026-02-28 0000320351 fmr:C000020456Member country:CA 2026-02-28 0000320351 fmr:C000020456Member country:DE 2026-02-28 0000320351 fmr:C000020456Member country:FI 2026-02-28 0000320351 fmr:C000020456Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020456Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020455Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020455_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020455_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020455_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020455_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020455_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020455_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020455_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020455Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TI4Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020455Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020455Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000020455Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020455Member 2026-02-28 0000320351 fmr:C000020455Member country:US 2026-02-28 0000320351 fmr:C000020455Member country:BE 2026-02-28 0000320351 fmr:C000020455Member country:GB 2026-02-28 0000320351 fmr:C000020455Member country:DE 2026-02-28 0000320351 fmr:C000020455Member country:CA 2026-02-28 0000320351 fmr:C000020455Member country:NL 2026-02-28 0000320351 fmr:C000020455Member country:DK 2026-02-28 0000320351 fmr:C000020455Member country:CH 2026-02-28 0000320351 fmr:C000020455Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020455Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020447Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020447_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020447_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020447_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020447_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020447_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020447_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020447_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020447Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TI6Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020447Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020447Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000020447Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020447Member 2026-02-28 0000320351 fmr:C000020447Member country:US 2026-02-28 0000320351 fmr:C000020447Member country:FR 2026-02-28 0000320351 fmr:C000020447Member country:CN 2026-02-28 0000320351 fmr:C000020447Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020447Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020443Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020443_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020443_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020443_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020443_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020443_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020443_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020443_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020443Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020443Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020443Member 2026-02-28 0000320351 fmr:C000020443Member country:US 2026-02-28 0000320351 fmr:C000020443Member country:CA 2026-02-28 0000320351 fmr:C000020443Member country:ZM 2026-02-28 0000320351 fmr:C000020443Member country:BR 2026-02-28 0000320351 fmr:C000020443Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020443Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000205044Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205044_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205044_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205044_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205044_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205044_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205044Member 2018-10-02 2026-02-28 0000320351 fmr:C000205044Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205044Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205044Member 2026-02-28 0000320351 fmr:C000205044Member country:US 2026-02-28 0000320351 fmr:C000205044Member country:CA 2026-02-28 0000320351 fmr:C000205044Member country:ZM 2026-02-28 0000320351 fmr:C000205044Member country:BR 2026-02-28 0000320351 fmr:C000205044Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000205044Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040629Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040629_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040629_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040629_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040629_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040629_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040629_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040629_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040629_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040629Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040629Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040629Member 2026-02-28 0000320351 fmr:C000040629Member country:US 2026-02-28 0000320351 fmr:C000040629Member country:CA 2026-02-28 0000320351 fmr:C000040629Member country:ZM 2026-02-28 0000320351 fmr:C000040629Member country:BR 2026-02-28 0000320351 fmr:C000040629Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040629Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040630Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040630_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040630_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040630_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040630_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040630_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040630_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040630_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040630Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040630Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040630Member 2026-02-28 0000320351 fmr:C000040630Member country:US 2026-02-28 0000320351 fmr:C000040630Member country:CA 2026-02-28 0000320351 fmr:C000040630Member country:ZM 2026-02-28 0000320351 fmr:C000040630Member country:BR 2026-02-28 0000320351 fmr:C000040630Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040630Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040628Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040628_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040628_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040628_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040628_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040628_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040628_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040628_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040628_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040628Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040628Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040628Member 2026-02-28 0000320351 fmr:C000040628Member country:US 2026-02-28 0000320351 fmr:C000040628Member country:CA 2026-02-28 0000320351 fmr:C000040628Member country:ZM 2026-02-28 0000320351 fmr:C000040628Member country:BR 2026-02-28 0000320351 fmr:C000040628Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040628Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040626Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040626_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040626_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040626_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040626_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040626_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040626_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040626_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040626_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040626Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TI3Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040626Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040626Member 2026-02-28 0000320351 fmr:C000040626Member country:US 2026-02-28 0000320351 fmr:C000040626Member country:CA 2026-02-28 0000320351 fmr:C000040626Member country:ZM 2026-02-28 0000320351 fmr:C000040626Member country:BR 2026-02-28 0000320351 fmr:C000040626Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040626Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020445Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020445_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020445_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020445_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020445_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020445_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020445_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020445_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020445Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TI5Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020445Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020445Member 2026-02-28 0000320351 fmr:C000020445Member country:US 2026-02-28 0000320351 fmr:C000020445Member country:CA 2026-02-28 0000320351 fmr:C000020445Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020445Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020444Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020444_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020444_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020444_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020444_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020444_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020444_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020444_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020444Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TI1Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020444Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020444Member 2026-02-28 0000320351 fmr:C000020444Member country:US 2026-02-28 0000320351 fmr:C000020444Member country:GB 2026-02-28 0000320351 fmr:C000020444Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020444Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020446Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020446_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020446_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020446_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020446_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020446_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020446_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020446_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020446Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020446Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020446Member 2026-02-28 0000320351 fmr:C000020446Member country:US 2026-02-28 0000320351 fmr:C000020446Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020446Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020440Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020440_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020440_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020440_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020440_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020440_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020440_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020440_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020440Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TI6Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020440Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020440Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000020440Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020440Member 2026-02-28 0000320351 fmr:C000020440Member country:US 2026-02-28 0000320351 fmr:C000020440Member country:NL 2026-02-28 0000320351 fmr:C000020440Member country:DK 2026-02-28 0000320351 fmr:C000020440Member country:BE 2026-02-28 0000320351 fmr:C000020440Member country:CA 2026-02-28 0000320351 fmr:C000020440Member country:DE 2026-02-28 0000320351 fmr:C000020440Member country:FR 2026-02-28 0000320351 fmr:C000020440Member country:GB 2026-02-28 0000320351 fmr:C000020440Member country:IL 2026-02-28 0000320351 fmr:C000020440Member country:CN 2026-02-28 0000320351 fmr:C000020440Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020440Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020439Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020439_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020439_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020439_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020439_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020439_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020439_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020439_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020439Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020439Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000020439Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020439Member 2026-02-28 0000320351 fmr:C000020439Member country:CA 2026-02-28 0000320351 fmr:C000020439Member country:US 2026-02-28 0000320351 fmr:C000020439Member country:BR 2026-02-28 0000320351 fmr:C000020439Member country:AU 2026-02-28 0000320351 fmr:C000020439Member country:BF 2026-02-28 0000320351 fmr:C000020439Member country:TR 2026-02-28 0000320351 fmr:C000020439Member country:CN 2026-02-28 0000320351 fmr:C000020439Member country:ZA 2026-02-28 0000320351 fmr:C000020439Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000020439Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000020439Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020439Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000205043Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205043_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205043_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205043_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205043_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205043_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205043Member 2018-10-02 2026-02-28 0000320351 fmr:C000205043Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205043Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000205043Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205043Member 2026-02-28 0000320351 fmr:C000205043Member country:CA 2026-02-28 0000320351 fmr:C000205043Member country:US 2026-02-28 0000320351 fmr:C000205043Member country:BR 2026-02-28 0000320351 fmr:C000205043Member country:AU 2026-02-28 0000320351 fmr:C000205043Member country:BF 2026-02-28 0000320351 fmr:C000205043Member country:TR 2026-02-28 0000320351 fmr:C000205043Member country:CN 2026-02-28 0000320351 fmr:C000205043Member country:ZA 2026-02-28 0000320351 fmr:C000205043Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000205043Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000205043Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000205043Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040625Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040625_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040625_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040625_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040625_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040625_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040625_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040625_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040625_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040625Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040625Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040625Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040625Member 2026-02-28 0000320351 fmr:C000040625Member country:CA 2026-02-28 0000320351 fmr:C000040625Member country:US 2026-02-28 0000320351 fmr:C000040625Member country:BR 2026-02-28 0000320351 fmr:C000040625Member country:AU 2026-02-28 0000320351 fmr:C000040625Member country:BF 2026-02-28 0000320351 fmr:C000040625Member country:TR 2026-02-28 0000320351 fmr:C000040625Member country:CN 2026-02-28 0000320351 fmr:C000040625Member country:ZA 2026-02-28 0000320351 fmr:C000040625Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000040625Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000040625Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040625Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040621Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040621_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040621_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040621_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040621_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040621_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040621_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040621_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040621Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040621Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040621Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040621Member 2026-02-28 0000320351 fmr:C000040621Member country:CA 2026-02-28 0000320351 fmr:C000040621Member country:US 2026-02-28 0000320351 fmr:C000040621Member country:BR 2026-02-28 0000320351 fmr:C000040621Member country:AU 2026-02-28 0000320351 fmr:C000040621Member country:BF 2026-02-28 0000320351 fmr:C000040621Member country:TR 2026-02-28 0000320351 fmr:C000040621Member country:CN 2026-02-28 0000320351 fmr:C000040621Member country:ZA 2026-02-28 0000320351 fmr:C000040621Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000040621Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000040621Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040621Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040624Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040624_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040624_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040624_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040624_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040624_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040624_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040624_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040624_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040624Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040624Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040624Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040624Member 2026-02-28 0000320351 fmr:C000040624Member country:CA 2026-02-28 0000320351 fmr:C000040624Member country:US 2026-02-28 0000320351 fmr:C000040624Member country:BR 2026-02-28 0000320351 fmr:C000040624Member country:AU 2026-02-28 0000320351 fmr:C000040624Member country:BF 2026-02-28 0000320351 fmr:C000040624Member country:TR 2026-02-28 0000320351 fmr:C000040624Member country:CN 2026-02-28 0000320351 fmr:C000040624Member country:ZA 2026-02-28 0000320351 fmr:C000040624Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000040624Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000040624Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040624Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040622Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040622_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040622_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040622_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040622_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040622_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040622_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040622_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040622_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040622Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040622Member 2026-02-28 0000320351 fmr:AAOtherInvestmentsMember fmr:C000040622Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040622Member 2026-02-28 0000320351 fmr:C000040622Member country:CA 2026-02-28 0000320351 fmr:C000040622Member country:US 2026-02-28 0000320351 fmr:C000040622Member country:BR 2026-02-28 0000320351 fmr:C000040622Member country:AU 2026-02-28 0000320351 fmr:C000040622Member country:BF 2026-02-28 0000320351 fmr:C000040622Member country:TR 2026-02-28 0000320351 fmr:C000040622Member country:CN 2026-02-28 0000320351 fmr:C000040622Member country:ZA 2026-02-28 0000320351 fmr:C000040622Member fmr:CotedIvoireMember 2026-02-28 0000320351 fmr:C000040622Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000040622Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040622Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020436Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020436_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020436_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020436_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020436_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020436_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020436_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020436_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020436Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TI5Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020436Member 2026-02-28 0000320351 fmr:C000020436Member country:US 2026-02-28 0000320351 fmr:C000020436Member country:GB 2026-02-28 0000320351 fmr:C000020436Member country:FR 2026-02-28 0000320351 fmr:C000020436Member country:PR 2026-02-28 0000320351 fmr:C000020436Member fmr:GrandCaymanUKOverseasTerMember 2026-02-28 0000320351 fmr:C000020436Member country:AU 2026-02-28 0000320351 fmr:C000020436Member country:MX 2026-02-28 0000320351 fmr:C000020436Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020436Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020441Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020441_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020441_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020441_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020441_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020441_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020441_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020441_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020441Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TI5Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020441Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020441Member 2026-02-28 0000320351 fmr:C000020441Member country:US 2026-02-28 0000320351 fmr:C000020441Member country:CA 2026-02-28 0000320351 fmr:C000020441Member country:GB 2026-02-28 0000320351 fmr:C000020441Member country:NL 2026-02-28 0000320351 fmr:C000020441Member country:UY 2026-02-28 0000320351 fmr:C000020441Member country:BR 2026-02-28 0000320351 fmr:C000020441Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020441Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020465Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020465_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020465_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020465_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020465_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020465_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020465_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020465_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020465Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TI4Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020465Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020465Member 2026-02-28 0000320351 fmr:C000020465Member country:US 2026-02-28 0000320351 fmr:C000020465Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020465Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020433Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020433_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020433_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020433_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020433_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020433_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020433_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020433_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020433Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020433Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020433Member 2026-02-28 0000320351 fmr:C000020433Member country:US 2026-02-28 0000320351 fmr:C000020433Member country:CA 2026-02-28 0000320351 fmr:C000020433Member country:GB 2026-02-28 0000320351 fmr:C000020433Member country:NO 2026-02-28 0000320351 fmr:C000020433Member country:FR 2026-02-28 0000320351 fmr:C000020433Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020433Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020430Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020430_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020430_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020430_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020430_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020430_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020430_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020430_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020430Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TI1Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020430Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020430Member 2026-02-28 0000320351 fmr:C000020430Member country:US 2026-02-28 0000320351 fmr:C000020430Member country:GB 2026-02-28 0000320351 fmr:C000020430Member country:CA 2026-02-28 0000320351 fmr:C000020430Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020430Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020437Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020437_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020437_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020437_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020437_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020437_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020437_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020437_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020437Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020437Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020437Member 2026-02-28 0000320351 fmr:C000020437Member country:US 2026-02-28 0000320351 fmr:C000020437Member country:GB 2026-02-28 0000320351 fmr:C000020437Member country:IT 2026-02-28 0000320351 fmr:C000020437Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020437Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000205042Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205042_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205042_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205042_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000205042_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000205042_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000205042Member 2018-10-02 2026-02-28 0000320351 fmr:C000205042Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000205042Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000205042Member 2026-02-28 0000320351 fmr:C000205042Member country:US 2026-02-28 0000320351 fmr:C000205042Member country:GB 2026-02-28 0000320351 fmr:C000205042Member country:IT 2026-02-28 0000320351 fmr:C000205042Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000205042Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040619Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040619_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040619_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040619_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040619_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040619_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040619_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040619_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040619_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040619Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040619Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040619Member 2026-02-28 0000320351 fmr:C000040619Member country:US 2026-02-28 0000320351 fmr:C000040619Member country:GB 2026-02-28 0000320351 fmr:C000040619Member country:IT 2026-02-28 0000320351 fmr:C000040619Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040619Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040620Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040620_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040620_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040620_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040620_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040620_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040620_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040620_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040620Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040620Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040620Member 2026-02-28 0000320351 fmr:C000040620Member country:US 2026-02-28 0000320351 fmr:C000040620Member country:GB 2026-02-28 0000320351 fmr:C000040620Member country:IT 2026-02-28 0000320351 fmr:C000040620Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040620Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040618Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040618_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040618_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040618_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040618_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040618_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040618_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040618_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040618_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040618Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040618Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040618Member 2026-02-28 0000320351 fmr:C000040618Member country:US 2026-02-28 0000320351 fmr:C000040618Member country:GB 2026-02-28 0000320351 fmr:C000040618Member country:IT 2026-02-28 0000320351 fmr:C000040618Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040618Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000040616Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040616_ClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040616_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040616_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040616_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040616_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040616_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000040616_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000040616_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000040616Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TI7Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000040616Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000040616Member 2026-02-28 0000320351 fmr:C000040616Member country:US 2026-02-28 0000320351 fmr:C000040616Member country:GB 2026-02-28 0000320351 fmr:C000040616Member country:IT 2026-02-28 0000320351 fmr:C000040616Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000040616Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020428Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020428_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020428_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020428_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020428_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020428_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020428_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020428_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020428Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020428Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020428Member 2026-02-28 0000320351 fmr:C000020428Member country:US 2026-02-28 0000320351 fmr:C000020428Member country:CA 2026-02-28 0000320351 fmr:C000020428Member country:BR 2026-02-28 0000320351 fmr:C000020428Member country:FR 2026-02-28 0000320351 fmr:C000020428Member country:CH 2026-02-28 0000320351 fmr:C000020428Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020428Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020468Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020468_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020468_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020468_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020468_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020468_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020468_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020468_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020468Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020468Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020468Member 2026-02-28 0000320351 fmr:C000020468Member country:US 2026-02-28 0000320351 fmr:C000020468Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020468Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020450Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020450_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020450_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020450_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020450_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020450_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020450_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020450_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020450Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020450Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020450Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020450Member 2026-02-28 0000320351 fmr:C000020450Member country:US 2026-02-28 0000320351 fmr:C000020450Member country:KR 2026-02-28 0000320351 fmr:C000020450Member country:TW 2026-02-28 0000320351 fmr:C000020450Member country:JP 2026-02-28 0000320351 fmr:C000020450Member country:CA 2026-02-28 0000320351 fmr:C000020450Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020450Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000206307Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206307_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206307_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206307_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206307_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206307_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206307Member 2018-11-30 2026-02-28 0000320351 fmr:C000206307Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206307Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206307Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206307Member 2026-02-28 0000320351 fmr:C000206307Member country:US 2026-02-28 0000320351 fmr:C000206307Member country:KR 2026-02-28 0000320351 fmr:C000206307Member country:TW 2026-02-28 0000320351 fmr:C000206307Member country:JP 2026-02-28 0000320351 fmr:C000206307Member country:CA 2026-02-28 0000320351 fmr:C000206307Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000206307Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000206309Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206309_ClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206309_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206309_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206309_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206309Member 2018-11-30 2026-02-28 0000320351 fmr:C000206309Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206309Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206309Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206309Member 2026-02-28 0000320351 fmr:C000206309Member country:US 2026-02-28 0000320351 fmr:C000206309Member country:KR 2026-02-28 0000320351 fmr:C000206309Member country:TW 2026-02-28 0000320351 fmr:C000206309Member country:JP 2026-02-28 0000320351 fmr:C000206309Member country:CA 2026-02-28 0000320351 fmr:C000206309Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000206309Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000206306Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206306_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206306_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206306_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206306_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206306_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206306Member 2018-11-30 2026-02-28 0000320351 fmr:C000206306Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206306Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206306Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206306Member 2026-02-28 0000320351 fmr:C000206306Member country:US 2026-02-28 0000320351 fmr:C000206306Member country:KR 2026-02-28 0000320351 fmr:C000206306Member country:TW 2026-02-28 0000320351 fmr:C000206306Member country:JP 2026-02-28 0000320351 fmr:C000206306Member country:CA 2026-02-28 0000320351 fmr:C000206306Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000206306Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000206310Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206310_ClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206310_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206310_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206310_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206310Member 2018-11-30 2026-02-28 0000320351 fmr:C000206310Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206310Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206310Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206310Member 2026-02-28 0000320351 fmr:C000206310Member country:US 2026-02-28 0000320351 fmr:C000206310Member country:KR 2026-02-28 0000320351 fmr:C000206310Member country:TW 2026-02-28 0000320351 fmr:C000206310Member country:JP 2026-02-28 0000320351 fmr:C000206310Member country:CA 2026-02-28 0000320351 fmr:C000206310Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000206310Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000206308Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_LG_ClassMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_LG_1_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_LG_2_AdditionalIndexMember_9YRMember 2017-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206308_ClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206308_NoLoadClassMember_2025-03-01_2026-02-28Member 2025-02-28 2026-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206308_0_AdditionalIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000206308_1_BBIndexMember_LOCMember 2025-02-28 2026-02-28 0000320351 fmr:C000206308Member 2018-11-30 2026-02-28 0000320351 fmr:C000206308Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000206308Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000206308Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000206308Member 2026-02-28 0000320351 fmr:C000206308Member country:US 2026-02-28 0000320351 fmr:C000206308Member country:KR 2026-02-28 0000320351 fmr:C000206308Member country:TW 2026-02-28 0000320351 fmr:C000206308Member country:JP 2026-02-28 0000320351 fmr:C000206308Member country:CA 2026-02-28 0000320351 fmr:C000206308Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000206308Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020466Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020466_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020466_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020466_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020466_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020466_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020466_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020466_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020466Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TI0Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020466Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020466Member 2026-02-28 0000320351 fmr:C000020466Member country:US 2026-02-28 0000320351 fmr:C000020466Member country:DE 2026-02-28 0000320351 fmr:C000020466Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020466Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020464Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020464_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020464_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020464_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020464_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020464_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020464_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020464_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020464Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TI1Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020464Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020464Member 2026-02-28 0000320351 fmr:C000020464Member country:US 2026-02-28 0000320351 fmr:C000020464Member country:CA 2026-02-28 0000320351 fmr:C000020464Member country:GB 2026-02-28 0000320351 fmr:C000020464Member fmr:GrandCaymanUKOverseasTerMember 2026-02-28 0000320351 fmr:C000020464Member country:LU 2026-02-28 0000320351 fmr:C000020464Member country:SE 2026-02-28 0000320351 fmr:C000020464Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020464Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020460Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020460_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020460_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020460_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020460_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020460_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020460_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020460_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020460Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TI6Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020460Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020460Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020460Member 2026-02-28 0000320351 fmr:C000020460Member country:US 2026-02-28 0000320351 fmr:C000020460Member country:DK 2026-02-28 0000320351 fmr:C000020460Member country:NL 2026-02-28 0000320351 fmr:C000020460Member country:BE 2026-02-28 0000320351 fmr:C000020460Member country:CH 2026-02-28 0000320351 fmr:C000020460Member country:FR 2026-02-28 0000320351 fmr:C000020460Member country:CA 2026-02-28 0000320351 fmr:C000020460Member country:GB 2026-02-28 0000320351 fmr:C000020460Member country:DE 2026-02-28 0000320351 fmr:C000020460Member fmr:OtherMember 2026-02-28 0000320351 fmr:C000020460Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020460Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020449Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020449_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020449_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020449_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020449_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020449_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020449_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020449_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020449Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020449Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020449Member 2026-02-28 0000320351 fmr:C000020449Member country:US 2026-02-28 0000320351 fmr:C000020449Member country:PR 2026-02-28 0000320351 fmr:C000020449Member country:CY 2026-02-28 0000320351 fmr:C000020449Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020449Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020438Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020438_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020438_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020438_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020438_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020438_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020438_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020438_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020438Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020438Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020438Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020438Member 2026-02-28 0000320351 fmr:C000020438Member country:US 2026-02-28 0000320351 fmr:C000020438Member country:JP 2026-02-28 0000320351 fmr:C000020438Member country:IT 2026-02-28 0000320351 fmr:C000020438Member country:CN 2026-02-28 0000320351 fmr:C000020438Member country:CH 2026-02-28 0000320351 fmr:C000020438Member country:CA 2026-02-28 0000320351 fmr:C000020438Member country:IL 2026-02-28 0000320351 fmr:C000020438Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020438Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020452Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020452_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020452_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020452_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020452_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020452_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020452_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020452_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020452Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TI4Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020452Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020452Member 2026-02-28 0000320351 fmr:C000020452Member country:US 2026-02-28 0000320351 fmr:C000020452Member country:CA 2026-02-28 0000320351 fmr:C000020452Member country:BR 2026-02-28 0000320351 fmr:C000020452Member country:ZM 2026-02-28 0000320351 fmr:C000020452Member country:GB 2026-02-28 0000320351 fmr:C000020452Member country:PT 2026-02-28 0000320351 fmr:C000020452Member country:NO 2026-02-28 0000320351 fmr:C000020452Member country:AU 2026-02-28 0000320351 fmr:C000020452Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020452Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000020435Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_LG_ClassMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_ClassMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_LG_1_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_LG_2_AdditionalIndexMember_11YRMember 2015-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2016Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2017Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2018Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2019Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2020Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2021Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2022Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2023Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2024Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2025Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_2_AdditionalIndexMember_AsOf_2026Member 2025-02-28 2026-02-28 0000320351 fmr:C000020435_NoLoadClassMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020435_NoLoadClassMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020435_NoLoadClassMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020435_0_AdditionalIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020435_1_BBIndexMember_1YRMember 2025-02-28 2026-02-28 0000320351 fmr:C000020435_1_BBIndexMember_5YRMember 2021-02-28 2026-02-28 0000320351 fmr:C000020435_1_BBIndexMember_10YRMember 2016-02-28 2026-02-28 0000320351 fmr:C000020435Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000020435Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000020435Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000020435Member 2026-02-28 0000320351 fmr:C000020435Member country:US 2026-02-28 0000320351 fmr:C000020435Member country:NL 2026-02-28 0000320351 fmr:C000020435Member country:DE 2026-02-28 0000320351 fmr:C000020435Member country:GB 2026-02-28 0000320351 fmr:C000020435Member country:CA 2026-02-28 0000320351 fmr:C000020435Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000020435Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000264532Member 2025-02-28 2026-02-28 0000320351 fmr:C000264532Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000264532Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000264532Member 2026-02-28 0000320351 fmr:C000264532Member country:US 2026-02-28 0000320351 fmr:C000264532Member country:DE 2026-02-28 0000320351 fmr:C000264532Member country:CA 2026-02-28 0000320351 fmr:C000264532Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000264532Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000264530Member 2025-02-28 2026-02-28 0000320351 fmr:C000264530Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000264530Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000264530Member 2026-02-28 0000320351 fmr:C000264530Member country:US 2026-02-28 0000320351 fmr:C000264530Member country:DE 2026-02-28 0000320351 fmr:C000264530Member country:CA 2026-02-28 0000320351 fmr:C000264530Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000264530Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000264534Member 2025-02-28 2026-02-28 0000320351 fmr:C000264534Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000264534Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000264534Member 2026-02-28 0000320351 fmr:C000264534Member country:US 2026-02-28 0000320351 fmr:C000264534Member country:DE 2026-02-28 0000320351 fmr:C000264534Member country:CA 2026-02-28 0000320351 fmr:C000264534Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000264534Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000264531Member 2025-02-28 2026-02-28 0000320351 fmr:C000264531Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000264531Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000264531Member 2026-02-28 0000320351 fmr:C000264531Member country:US 2026-02-28 0000320351 fmr:C000264531Member country:DE 2026-02-28 0000320351 fmr:C000264531Member country:CA 2026-02-28 0000320351 fmr:C000264531Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000264531Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000264533Member 2025-02-28 2026-02-28 0000320351 fmr:C000264533Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000264533Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000264533Member 2026-02-28 0000320351 fmr:C000264533Member country:US 2026-02-28 0000320351 fmr:C000264533Member country:DE 2026-02-28 0000320351 fmr:C000264533Member country:CA 2026-02-28 0000320351 fmr:C000264533Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000264533Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265491Member 2025-02-28 2026-02-28 0000320351 fmr:C000265491Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265491Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000265491Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000265491Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000265491Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265491Member 2026-02-28 0000320351 fmr:C000265491Member country:US 2026-02-28 0000320351 fmr:C000265491Member country:NL 2026-02-28 0000320351 fmr:C000265491Member country:CA 2026-02-28 0000320351 fmr:C000265491Member country:TW 2026-02-28 0000320351 fmr:C000265491Member country:GB 2026-02-28 0000320351 fmr:C000265491Member country:CN 2026-02-28 0000320351 fmr:C000265491Member country:IN 2026-02-28 0000320351 fmr:C000265491Member country:EE 2026-02-28 0000320351 fmr:C000265491Member country:IL 2026-02-28 0000320351 fmr:C000265491Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265491Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265487Member 2025-02-28 2026-02-28 0000320351 fmr:C000265487Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265487Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000265487Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000265487Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000265487Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265487Member 2026-02-28 0000320351 fmr:C000265487Member country:US 2026-02-28 0000320351 fmr:C000265487Member country:NL 2026-02-28 0000320351 fmr:C000265487Member country:CA 2026-02-28 0000320351 fmr:C000265487Member country:TW 2026-02-28 0000320351 fmr:C000265487Member country:GB 2026-02-28 0000320351 fmr:C000265487Member country:CN 2026-02-28 0000320351 fmr:C000265487Member country:IN 2026-02-28 0000320351 fmr:C000265487Member country:EE 2026-02-28 0000320351 fmr:C000265487Member country:IL 2026-02-28 0000320351 fmr:C000265487Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265487Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265488Member 2025-02-28 2026-02-28 0000320351 fmr:C000265488Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265488Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000265488Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000265488Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000265488Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265488Member 2026-02-28 0000320351 fmr:C000265488Member country:US 2026-02-28 0000320351 fmr:C000265488Member country:NL 2026-02-28 0000320351 fmr:C000265488Member country:CA 2026-02-28 0000320351 fmr:C000265488Member country:TW 2026-02-28 0000320351 fmr:C000265488Member country:GB 2026-02-28 0000320351 fmr:C000265488Member country:CN 2026-02-28 0000320351 fmr:C000265488Member country:IN 2026-02-28 0000320351 fmr:C000265488Member country:EE 2026-02-28 0000320351 fmr:C000265488Member country:IL 2026-02-28 0000320351 fmr:C000265488Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265488Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265490Member 2025-02-28 2026-02-28 0000320351 fmr:C000265490Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265490Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000265490Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000265490Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000265490Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265490Member 2026-02-28 0000320351 fmr:C000265490Member country:US 2026-02-28 0000320351 fmr:C000265490Member country:NL 2026-02-28 0000320351 fmr:C000265490Member country:CA 2026-02-28 0000320351 fmr:C000265490Member country:TW 2026-02-28 0000320351 fmr:C000265490Member country:GB 2026-02-28 0000320351 fmr:C000265490Member country:CN 2026-02-28 0000320351 fmr:C000265490Member country:IN 2026-02-28 0000320351 fmr:C000265490Member country:EE 2026-02-28 0000320351 fmr:C000265490Member country:IL 2026-02-28 0000320351 fmr:C000265490Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265490Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265489Member 2025-02-28 2026-02-28 0000320351 fmr:C000265489Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI8Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TI9Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265489Member 2026-02-28 0000320351 fmr:AAPreferredStocksMember fmr:C000265489Member 2026-02-28 0000320351 fmr:AABondsMember fmr:C000265489Member 2026-02-28 0000320351 fmr:AAPreferredSecuritiesMember fmr:C000265489Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265489Member 2026-02-28 0000320351 fmr:C000265489Member country:US 2026-02-28 0000320351 fmr:C000265489Member country:NL 2026-02-28 0000320351 fmr:C000265489Member country:CA 2026-02-28 0000320351 fmr:C000265489Member country:TW 2026-02-28 0000320351 fmr:C000265489Member country:GB 2026-02-28 0000320351 fmr:C000265489Member country:CN 2026-02-28 0000320351 fmr:C000265489Member country:IN 2026-02-28 0000320351 fmr:C000265489Member country:EE 2026-02-28 0000320351 fmr:C000265489Member country:IL 2026-02-28 0000320351 fmr:C000265489Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265489Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265481Member 2025-02-28 2026-02-28 0000320351 fmr:C000265481Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265481Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265481Member 2026-02-28 0000320351 fmr:C000265481Member country:US 2026-02-28 0000320351 fmr:C000265481Member country:CA 2026-02-28 0000320351 fmr:C000265481Member country:BR 2026-02-28 0000320351 fmr:C000265481Member country:FR 2026-02-28 0000320351 fmr:C000265481Member country:CH 2026-02-28 0000320351 fmr:C000265481Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265481Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265478Member 2025-02-28 2026-02-28 0000320351 fmr:C000265478Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265478Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265478Member 2026-02-28 0000320351 fmr:C000265478Member country:US 2026-02-28 0000320351 fmr:C000265478Member country:CA 2026-02-28 0000320351 fmr:C000265478Member country:BR 2026-02-28 0000320351 fmr:C000265478Member country:FR 2026-02-28 0000320351 fmr:C000265478Member country:CH 2026-02-28 0000320351 fmr:C000265478Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265478Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265477Member 2025-02-28 2026-02-28 0000320351 fmr:C000265477Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265477Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265477Member 2026-02-28 0000320351 fmr:C000265477Member country:US 2026-02-28 0000320351 fmr:C000265477Member country:CA 2026-02-28 0000320351 fmr:C000265477Member country:BR 2026-02-28 0000320351 fmr:C000265477Member country:FR 2026-02-28 0000320351 fmr:C000265477Member country:CH 2026-02-28 0000320351 fmr:C000265477Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265477Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265479Member 2025-02-28 2026-02-28 0000320351 fmr:C000265479Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265479Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265479Member 2026-02-28 0000320351 fmr:C000265479Member country:US 2026-02-28 0000320351 fmr:C000265479Member country:CA 2026-02-28 0000320351 fmr:C000265479Member country:BR 2026-02-28 0000320351 fmr:C000265479Member country:FR 2026-02-28 0000320351 fmr:C000265479Member country:CH 2026-02-28 0000320351 fmr:C000265479Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265479Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265480Member 2025-02-28 2026-02-28 0000320351 fmr:C000265480Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI2Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI3Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI4Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI5Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI6Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI7Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TI8Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265480Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265480Member 2026-02-28 0000320351 fmr:C000265480Member country:US 2026-02-28 0000320351 fmr:C000265480Member country:CA 2026-02-28 0000320351 fmr:C000265480Member country:BR 2026-02-28 0000320351 fmr:C000265480Member country:FR 2026-02-28 0000320351 fmr:C000265480Member country:CH 2026-02-28 0000320351 fmr:C000265480Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265480Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265485Member 2025-02-28 2026-02-28 0000320351 fmr:C000265485Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265485Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265485Member 2026-02-28 0000320351 fmr:C000265485Member country:US 2026-02-28 0000320351 fmr:C000265485Member country:CA 2026-02-28 0000320351 fmr:C000265485Member country:GB 2026-02-28 0000320351 fmr:C000265485Member country:NO 2026-02-28 0000320351 fmr:C000265485Member country:FR 2026-02-28 0000320351 fmr:C000265485Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265485Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265486Member 2025-02-28 2026-02-28 0000320351 fmr:C000265486Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265486Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265486Member 2026-02-28 0000320351 fmr:C000265486Member country:US 2026-02-28 0000320351 fmr:C000265486Member country:CA 2026-02-28 0000320351 fmr:C000265486Member country:GB 2026-02-28 0000320351 fmr:C000265486Member country:NO 2026-02-28 0000320351 fmr:C000265486Member country:FR 2026-02-28 0000320351 fmr:C000265486Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265486Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265484Member 2025-02-28 2026-02-28 0000320351 fmr:C000265484Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265484Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265484Member 2026-02-28 0000320351 fmr:C000265484Member country:US 2026-02-28 0000320351 fmr:C000265484Member country:CA 2026-02-28 0000320351 fmr:C000265484Member country:GB 2026-02-28 0000320351 fmr:C000265484Member country:NO 2026-02-28 0000320351 fmr:C000265484Member country:FR 2026-02-28 0000320351 fmr:C000265484Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265484Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265482Member 2025-02-28 2026-02-28 0000320351 fmr:C000265482Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265482Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265482Member 2026-02-28 0000320351 fmr:C000265482Member country:US 2026-02-28 0000320351 fmr:C000265482Member country:CA 2026-02-28 0000320351 fmr:C000265482Member country:GB 2026-02-28 0000320351 fmr:C000265482Member country:NO 2026-02-28 0000320351 fmr:C000265482Member country:FR 2026-02-28 0000320351 fmr:C000265482Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265482Member fmr:TH9Member 2026-02-28 0000320351 fmr:C000265483Member 2025-02-28 2026-02-28 0000320351 fmr:C000265483Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TI0Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TI1Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TI2Member 2026-02-28 0000320351 fmr:AACommonStocksMember fmr:C000265483Member 2026-02-28 0000320351 fmr:AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember fmr:C000265483Member 2026-02-28 0000320351 fmr:C000265483Member country:US 2026-02-28 0000320351 fmr:C000265483Member country:CA 2026-02-28 0000320351 fmr:C000265483Member country:GB 2026-02-28 0000320351 fmr:C000265483Member country:NO 2026-02-28 0000320351 fmr:C000265483Member country:FR 2026-02-28 0000320351 fmr:C000265483Member fmr:TH0Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH1Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH2Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH3Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH4Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH5Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH6Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH7Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH8Member 2026-02-28 0000320351 fmr:C000265483Member fmr:TH9Member 2026-02-28 0000320351 2025-02-28 2026-02-28 iso4217:USD pure shares N-CSR false 0000320351 N-1A Fidelity Select Portfolios 2026-02-28 Wireless Portfolio Wireless Portfolio FWRLX This annual shareholder report contains information about Wireless Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Wireless Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 75 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Fidelity Wireless Index for the fiscal year, especially within communications equipment. Picks and an underweight in alternative carriers also hampered the fund's result. Also detracting from our result were stock picks in 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 our underweight stake in AST SpaceMobile (+192%). This was a position we established this period. The company was one of the fund's largest holdings at period end. A second notable relative detractor was our underweight position in Viasat (+424%). Another notable relative detractor was our lighter-than-index stake in Vistance Networks (+177%). This was an investment 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>In contrast, the primary contributor to performance versus the industry index was security selection in technology hardware, storage &amp; peripherals. Security selection in interactive media &amp; services 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 fund's stake in Samsung Electronics gained 85% and was the top individual relative contributor. The stock was not held at period end. A stake in Sandisk gained 142% and was the second-largest relative contributor. This was a stake we established this period. A stake in Quebecor gained 73% and notably helped. Quebecor was not held at period end. All these contributors were non-index 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>Notable changes in positioning include higher allocations to the communications equipment and alternative carriers 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Wireless Portfolio $10,000 $12,409 $14,544 $14,575 $17,929 $24,400 $25,474 $21,707 $26,011 $30,772 $34,580 Fidelity Wireless Index℠ $10,000 $11,577 $13,016 $13,316 $15,361 $19,402 $21,441 $18,894 $20,010 $23,810 $28,728 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Wireless Portfolio</span> 10000 12409 14544 14575 17929 24400 25474 21707 26011 30772 34580 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Fidelity Wireless Index℠</span> 10000 11577 13016 13316 15361 19402 21441 18894 20010 23810 28728 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Wireless Portfolio 12.38% 7.22% 13.21% Fidelity Wireless Index℠ 20.65% 8.17% 11.13% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1238 0.0722 0.1321 0.2065 0.0817 0.1113 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>306,527,175</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;">52</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>2,013,947</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> 306527175 52 2013947 0.58       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 26.7   Technology Hardware, Storage & Peripherals 15.8   Semiconductors & Semiconductor Equipment 15.5   Communications Equipment 15.4   Wireless Telecommunication Services 14.7   Specialized REITs 6.9   Software 2.2   Media 1.1   Interactive Media & Services 0.9       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 78.2 Canada 5.4 Finland 3.8 United Kingdom 2.7 Sweden 2.3 Singapore 1.8 Mexico 1.7 Taiwan 1.5 Brazil 1.0 Others 1.6 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 78.2                       Canada - 5.4                               Finland - 3.8                              United Kingdom - 2.7                       Sweden - 2.3                               Singapore - 1.8                            Mexico - 1.7                               Taiwan - 1.5                               Brazil - 1.0                               Others - 1.6                                   0.267 0.158 0.155 0.154 0.147 0.069 0.022 0.011 0.009 0.992 0.008 0.782 0.054 0.038 0.027 0.023 0.018 0.017 0.015 0.010 0.016 TOP HOLDINGS(% of Fund's net assets)     Apple Inc 15.1   T-Mobile US Inc 7.4   AT&T Inc 7.4   Motorola Solutions Inc 6.2   QUALCOMM Inc 5.8   Verizon Communications Inc 5.7   Marvell Technology Inc 4.8   Nokia Oyj ADR 3.8   American Tower Corp 3.7   AST SpaceMobile Inc Class A 2.7     62.6   0.151 0.074 0.074 0.062 0.058 0.057 0.048 0.038 0.037 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Utilities Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 71 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Utilities Portfolio $10,000 $11,821 $12,411 $14,915 $16,309 $16,301 $19,429 $19,713 $20,897 $27,975 $34,777 MSCI U.S. IMI Utilities 25-50 Index $10,000 $11,726 $11,545 $13,989 $15,491 $15,072 $17,972 $17,795 $17,431 $22,957 $28,377 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Utilities Portfolio</span> 10000 11821 12411 14915 16309 16301 19429 19713 20897 27975 34777 <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 11726 11545 13989 15491 15072 17972 17795 17431 22957 28377 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Utilities Portfolio 24.32% 16.36% 13.27% MSCI U.S. IMI Utilities 25-50 Index 23.61% 13.49% 10.99% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2432 0.1636 0.1327 0.2361 0.1349 0.1099 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>4,088,784,869</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;">34</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>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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, 2025. 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, 2026 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> 2026-02-28 Transportation Portfolio Transportation Portfolio FSRFX This annual shareholder report contains information about Transportation Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Transportation Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 75 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Transportation 25/50 Linked Index for the fiscal year, led by an underweight in passenger ground transportation. An underweight in cargo ground transportation also boosted relative performance. Also contributing to our result was stock selection in air freight &amp; logistics.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Uber Technologies (-1%). The stock was the fund's biggest holding. A second notable relative contributor was our non-index stake in Copa Holdings (+61%). This period we decreased our position in Copa Holdings. An overweight in XPO (+86%) also helped. This was a position we established this period. The company was one of 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>In contrast, the primary detractor from performance versus the industry index was stock picking in hotels, resorts &amp; cruise lines. Stock picking and an underweight in marine transportation also hampered the fund's result. Also detracting from our result was an underweight in air freight &amp; logistics.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Alaska Air (-28%). The second-largest relative detractor was an underweight in JB Hunt Transport Services (+46%), which was not held at period end. Another notable relative detractor was our stake in Sun Country Airlines Holdings (+25%). This period we decreased our investment in Sun Country Airlines 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 cargo ground transportation industry and a lower allocation to rail transportation.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Transportation Portfolio $10,000 $12,940 $14,555 $15,553 $13,921 $18,741 $22,554 $22,450 $26,295 $27,492 $32,738 MSCI U.S. IMI Transportation 25-50 Index $10,000 $13,141 $14,947 $15,653 $14,409 $20,806 $23,471 $21,414 $25,513 $25,320 $29,611 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Transportation Portfolio</span> 10000 12940 14555 15553 13921 18741 22554 22450 26295 27492 32738 <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 13141 14947 15653 14409 20806 23471 21414 25513 25320 29611 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Transportation Portfolio 19.08% 11.80% 12.59% MSCI U.S. IMI Transportation 25-50 Index 16.95% 7.31% 11.47% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1908 0.1180 0.1259 0.1695 0.0731 0.1147 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>516,683,416</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>3,145,513</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> 516683416 40 3145513 0.40       TOP INDUSTRIES (% of Fund's net assets) Ground Transportation 50.1   Air Freight & Logistics 19.5   Passenger Airlines 19.4   Marine Transportation 1.5   Software 1.2   Broadline Retail 1.1   Aerospace & Defense 0.8   Machinery 0.5   Hotels, Restaurants & Leisure 0.4   Financial Services 0.4       Common Stocks 94.9 Short-Term Investments and Net Other Assets (Liabilities) 5.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 94.9                       Short-Term Investments and Net Other Assets (Liabilities) - 5.1   United States 97.2 Canada 1.9 Panama 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.2                       Canada - 1.9                               Panama - 0.9                                   0.501 0.195 0.194 0.015 0.012 0.011 0.008 0.005 0.004 0.004 0.949 0.051 0.972 0.019 0.009 TOP HOLDINGS(% of Fund's net assets)     Uber Technologies Inc 12.2   Union Pacific Corp 10.4   United Parcel Service Inc Class B 8.5   Delta Air Lines Inc 7.1   Old Dominion Freight Line Inc 6.0   FedEx Corp 5.7   CSX Corp 4.9   United Airlines Holdings Inc 4.6   XPO Inc 4.5   CH Robinson Worldwide Inc 3.7     67.6   0.122 0.104 0.085 0.071 0.060 0.057 0.049 0.046 0.045 0.037 2026-02-28 Telecommunications Portfolio Telecommunications Portfolio FSTCX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Telecommunications Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.74<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> 80 0.0074 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Telecommunications Portfolio $10,000 $11,906 $11,458 $11,845 $13,326 $15,878 $14,927 $13,777 $13,594 $18,258 $21,152 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $11,377 $10,475 $10,454 $11,359 $12,702 $11,945 $11,007 $10,924 $15,571 $19,240 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Telecommunications Portfolio</span> 10000 11906 11458 11845 13326 15878 14927 13777 13594 18258 21152 <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 11377 10475 10454 11359 12702 11945 11007 10924 15571 19240 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Telecommunications Portfolio 15.85% 5.90% 7.78% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 6.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1585 0.0590 0.0778 0.2356 0.0866 0.0676 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class Z FIJGX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 69 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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, 2026. Initial investment of $10,000. Class Z $10,000 $9,320 $10,502 $12,529 $11,794 $10,903 $10,776 $14,491 $16,804 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 $16,622 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652 $26,501   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 16804 <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 16622 <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 26501 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 15.97% 6.05% 7.25% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 7.09% S&P 500® Index 16.99% 14.19% 14.05% 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. 0.1597 0.0605 0.0725 0.2356 0.0866 0.0709 0.1699 0.1419 0.1405 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class M FTUTX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>139<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.29<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> 139 0.0129 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $11,412 $10,910 $11,203 $12,526 $14,830 $13,859 $12,721 $12,487 $16,680 $19,217 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $11,377 $10,475 $10,454 $11,359 $12,702 $11,945 $11,007 $10,924 $15,571 $19,240 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 11412 10910 11203 12526 14830 13859 12721 12487 16680 19217 <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 11377 10475 10454 11359 12702 11945 11007 10924 15571 19240 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   11.18% 4.57% 6.75% Class M (without 3.50% sales charge) 15.21% 5.32% 7.13% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 6.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1118 0.0457 0.0675 0.1521 0.0532 0.0713 0.2356 0.0866 0.0676 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class I FTUIX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.74<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> 80 0.0074 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class I $10,000 $11,903 $11,456 $11,840 $13,317 $15,864 $14,918 $13,774 $13,602 $18,265 $21,159 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $11,377 $10,475 $10,454 $11,359 $12,702 $11,945 $11,007 $10,924 $15,571 $19,240 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 11903 11456 11840 13317 15864 14918 13774 13602 18265 21159 <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 11377 10475 10454 11359 12702 11945 11007 10924 15571 19240 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 15.84% 5.93% 7.78% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 6.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1584 0.0593 0.0778 0.2356 0.0866 0.0676 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class C FTUCX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>192<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.79<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> 192 0.0179 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class C $10,000 $11,777 $11,218 $11,476 $12,777 $15,061 $14,011 $12,797 $12,498 $16,736 $19,332 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $11,377 $10,475 $10,454 $11,359 $12,702 $11,945 $11,007 $10,924 $15,571 $19,240 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 11777 11218 11476 12777 15061 14011 12797 12498 16736 19332 <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 11377 10475 10454 11359 12702 11945 11007 10924 15571 19240 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 13.65% 4.80% 6.81% Class C 14.65% 4.80% 6.81% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 6.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1365 0.0480 0.0681 0.1465 0.0480 0.0681 0.2356 0.0866 0.0676 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 Telecommunications Portfolio Fidelity Advisor® Telecommunications Fund Class A FTUAX This annual shareholder report contains information about Telecommunications Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>112<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.04<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> 112 0.0104 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 detracted from the fund's performance versus the MSCI IMI TelcomSvc 25/50 (IG) Index for the fiscal year, led by alternative carriers. Stock picking in cable &amp; satellite also hampered the fund's relative result. Also hurting our result were picks and an underweight in integrated 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 biggest individual relative detractor was our underweight stake in AST SpaceMobile (+191%). Despite the underweight, the company was among our largest holdings. A second notable relative detractor was our lighter-than-index stake in Globalstar (+185%). The stock was one of our largest holdings. Another notable relative detractor was our non-index stake in Charter Communications (-45%). 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 picking in wireless telecommunication services. Stock picking in construction &amp; engineering 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 Spok Holdings (-22%). This was an investment we established this period. A second notable relative contributor was an underweight in Cogent Communications Holdings (-73%). The company was among the fund's 20-biggest holdings this period. A non-index stake in EchoStar gained 46% and notably helped. This was a stake we established this period.</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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $11,182 $10,729 $11,053 $12,393 $14,716 $13,792 $12,692 $12,488 $16,723 $19,317 MSCI U.S. IM Telecommunication Services 25-50 Index $10,000 $11,377 $10,475 $10,454 $11,359 $12,702 $11,945 $11,007 $10,924 $15,571 $19,240 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 11182 10729 11053 12393 14716 13792 12692 12488 16723 19317 <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 11377 10475 10454 11359 12702 11945 11007 10924 15571 19240 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   8.87% 4.35% 6.81% Class A (without 5.75% sales charge) 15.51% 5.59% 7.44% MSCI U.S. IM Telecommunication Services 25-50 Index 23.56% 8.66% 6.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0887 0.0435 0.0681 0.1551 0.0559 0.0744 0.2356 0.0866 0.0676 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>231,685,701</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>1,601,151</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> 231685701 26 1601151 0.65       TOP INDUSTRIES (% of Fund's net assets) Diversified Telecommunication Services 84.6   Wireless Telecommunication Services 10.3   Media 1.1       Common Stocks 96.0 Short-Term Investments and Net Other Assets (Liabilities) 4.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 96.0                       Short-Term Investments and Net Other Assets (Liabilities) - 4.0   United States 93.2 Puerto Rico 4.1 Belgium 2.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.2                       Puerto Rico - 4.1                          Belgium - 2.7                                  0.846 0.103 0.011 0.960 0.040 0.932 0.041 0.027 TOP HOLDINGS(% of Fund's net assets)     Verizon Communications Inc 24.2   AT&T Inc 23.2   T-Mobile US Inc 4.9   Globalstar Inc 4.8   AST SpaceMobile Inc Class A 4.8   Lumen Technologies Inc 4.4   Iridium Communications Inc 4.1   Telephone and Data Systems Inc 3.9   Liberty Latin America Ltd Class C 3.1   Uniti Group Inc 2.7     80.1   0.242 0.232 0.049 0.048 0.048 0.044 0.041 0.039 0.031 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Technology Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 69 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Technology Portfolio $10,000 $13,852 $19,907 $19,303 $25,011 $42,486 $43,297 $36,616 $56,810 $65,850 $84,051 MSCI U.S. IMI Information Technology 25-50 Index $10,000 $13,364 $18,028 $19,365 $23,925 $36,665 $41,881 $36,864 $54,652 $63,531 $77,596 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Technology Portfolio</span> 10000 13852 19907 19303 25011 42486 43297 36616 56810 65850 84051 <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 13364 18028 19365 23925 36665 41881 36864 54652 63531 77596 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Technology Portfolio 27.64% 14.62% 23.72% MSCI U.S. IMI Information Technology 25-50 Index 22.14% 16.18% 22.74% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2764 0.1462 0.2372 0.2214 0.1618 0.2274 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>27,313,203,802</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;">124</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>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 Tech Hardware Portfolio Tech Hardware Portfolio FDCPX This annual shareholder report contains information about Tech Hardware Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Tech Hardware Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 87 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 FactSet Technology Hardware Link Index for the fiscal year, especially within technology hardware, storage &amp; peripherals. An overweight in semiconductors also boosted the fund's relative performance. Also helping our relative result was security selection among technology 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 an overweight in Western Digital (+470%), one of our biggest holdings. A non-index stake in SK Hynix (+454%) also helped. Another notable relative contributor was our non-index stake in Taiwan Semiconductor Manufacturing (+104%), 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>In contrast, the biggest detractor from performance versus the industry index was an underweight in technology hardware, storage &amp; peripherals. An overweight in systems software also hampered the fund's result, as did picks in 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 an underweight in Samsung Electronics (+312%). The company was the fund's largest holding at period end. Avoiding Seagate Technology Holdings, an index component that gained 308%, hurt as well. Another notable relative detractor was our non-index stake in Microsoft (-2%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 electronic equipment &amp; instruments industry and a lower allocation to systems software firms.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Tech Hardware Portfolio $10,000 $14,157 $17,670 $17,766 $20,928 $34,028 $35,636 $30,782 $40,394 $48,705 $78,580 FactSet Technology Hardware Linked Index $10,000 $13,897 $16,916 $15,866 $17,915 $28,845 $30,175 $26,385 $33,703 $41,307 $63,317 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Tech Hardware Portfolio</span> 10000 14157 17670 17766 20928 34028 35636 30782 40394 48705 78580 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Technology Hardware Linked Index</span> 10000 13897 16916 15866 17915 28845 30175 26385 33703 41307 63317 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Tech Hardware Portfolio 61.34% 18.22% 22.89% FactSet Technology Hardware Linked Index 53.29% 17.03% 20.27% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.6134 0.1822 0.2289 0.5329 0.1703 0.2027 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,876,047,755</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>8,151,465</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;">53<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> 1876047755 40 8151465 0.53       TOP INDUSTRIES (% of Fund's net assets) Technology Hardware, Storage & Peripherals 35.4   Communications Equipment 30.3   Household Durables 8.8   Semiconductors & Semiconductor Equipment 8.7   Electronic Equipment, Instruments & Components 6.9   Entertainment 3.7   Interactive Media & Services 1.7   Software 1.5   Broadline Retail 0.7   Health Care Equipment & Supplies 0.5       Common Stocks 98.0 Preferred Stocks 0.2 Short-Term Investments and Net Other Assets (Liabilities) 1.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.0                       Preferred Stocks - 0.2                     Short-Term Investments and Net Other Assets (Liabilities) - 1.8   United States 66.8 Japan 13.4 Korea (South) 10.8 Taiwan 4.7 Finland 2.3 China 2.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 66.8                       Japan - 13.4                               Korea (South) - 10.8                       Taiwan - 4.7                               Finland - 2.3                              China - 2.0                                    0.354 0.303 0.088 0.087 0.069 0.037 0.017 0.015 0.007 0.005 0.980 0.002 0.018 0.668 0.134 0.108 0.047 0.023 0.020 TOP HOLDINGS(% of Fund's net assets)     Cisco Systems Inc 10.9   Western Digital Corp 9.2   Samsung Electronics Co Ltd 8.8   Arista Networks Inc 8.5   Apple Inc 7.7   Motorola Solutions Inc 4.9   Taiwan Semiconductor Manufacturing Co Ltd 4.3   Nintendo Co Ltd 3.7   Sony Group Corp 3.7   Dell Technologies Inc Class C 3.4     65.1   0.109 0.092 0.088 0.085 0.077 0.049 0.043 0.037 0.037 0.034 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Software and IT Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>55<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.61<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> 55 0.0061 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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. An underweight in systems software also hampered the fund's result. Also hurting our result was stock selection in IT consulting &amp; other 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 was an overweight in Atlassian (-74%). The company was among the fund's largest holdings this period. A second notable relative detractor was an underweight in Palantir Technologies (+62%). This was a stake we established this period. The stock was among the fund's biggest holdings at period end. An overweight in HubSpot (-63%) 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>In contrast, the primary contributor to performance versus the industry index was an overweight in internet services &amp; infrastructure. An underweight in IT consulting &amp; other services also boosted relative performance. Also contributing to our result were picks in broadline 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 top individual relative contributor was an overweight in Twilio (0%). The company was one of our biggest holdings at period end. A second notable relative contributor was an overweight in MongoDB (+21%). This period we decreased our stake in MongoDB. Another notable relative contributor was our non-index stake in Alphabet (+81%). This period we decreased our stake in Alphabet.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 transaction &amp; payment processing services and IT consulting &amp; other 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Software and IT Services Portfolio $10,000 $13,183 $18,029 $19,993 $24,257 $35,367 $36,422 $31,443 $46,998 $47,878 $39,090 MSCI U.S. IMI Software & Services 25-50 Index $10,000 $12,717 $17,283 $19,501 $23,341 $33,086 $33,297 $28,691 $41,992 $46,172 $39,392 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Software and IT Services Portfolio</span> 10000 13183 18029 19993 24257 35367 36422 31443 46998 47878 39090 <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 12717 17283 19501 23341 33086 33297 28691 41992 46172 39392 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Software and IT Services Portfolio -18.35% 2.02% 14.61% MSCI U.S. IMI Software & Services 25-50 Index -14.69% 3.55% 14.69% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.1835 0.0202 0.1461 -0.1469 0.0355 0.1469 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,675,401,466</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;">57</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>58,002,385</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;">62<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> 6675401466 57 58002385 0.62       TOP INDUSTRIES (% of Fund's net assets) Software 80.1   IT Services 14.6   Broadline Retail 2.6   Interactive Media & Services 1.7   Financial Services 0.6       Common Stocks 99.3 Preferred Stocks 0.3 Short-Term Investments and Net Other Assets (Liabilities) 0.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Preferred Stocks - 0.3                     Short-Term Investments and Net Other Assets (Liabilities) - 0.4   United States 98.7 Canada 1.3 Germany 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 98.7                       Canada - 1.3                               Germany - 0.0                                  0.801 0.146 0.026 0.017 0.006 0.993 0.003 0.004 0.987 0.013 0.000 TOP HOLDINGS(% of Fund's net assets)     Microsoft Corp 24.8   Salesforce Inc 5.0   Oracle Corp 4.0   Palantir Technologies Inc Class A 4.0   Intuit Inc 3.7   Datadog Inc Class A 3.4   Synopsys Inc 3.1   Autodesk Inc 3.1   Snowflake Inc 3.1   Palo Alto Networks Inc 3.0     57.2   0.248 0.050 0.040 0.040 0.037 0.034 0.031 0.031 0.031 0.030 2026-02-28 Semiconductors Portfolio Semiconductors Portfolio FSELX This annual shareholder report contains information about Semiconductors Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Semiconductors Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 81 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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, underweighting the semiconductor materials &amp; equipment segment was the primary detractor from the fund's performance versus the MSCI US IMI Semiconductors &amp; Semiconductor Equipment 25/50 Index for the fiscal year. An overweight in semiconductors also hampered the fund's result. 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 an overweight in Marvell Technology (-10%). The stock was among our largest holdings. The second-largest relative detractor was an overweight in NXP Semiconductors (+7%). The stock was among the fund's biggest holdings. Not owning Applied Materials, an index component that gained roughly 138%, 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 primary contributor to performance versus the industry index was out-of-benchmark exposure to technology hardware, storage &amp; peripherals. A non-benchmark allocation to electronic components and investment choices 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 fund's non-index stake in Western Digital gained 457% and was the top individual relative contributor. This period we decreased our position in Western Digital. The company was among the fund's biggest holdings at period end. A second notable relative contributor was negligible exposure to QUALCOMM (-7%), which was not held at period end. Another notable relative contributor was an overweight in Micron Technology (+338%). This period we decreased our position in Micron Technology. The company was one of the fund's biggest holdings.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Semiconductors Portfolio $10,000 $15,179 $20,370 $20,408 $25,717 $43,840 $54,611 $53,023 $89,786 $99,859 $168,853 MSCI U.S. IMI Semiconductors & Semiconductor Equipment 25-50 Index $10,000 $14,909 $20,401 $20,274 $24,989 $43,396 $52,785 $48,029 $87,798 $95,659 $162,476 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Semiconductors Portfolio</span> 10000 15179 20370 20408 25717 43840 54611 53023 89786 99859 168853 <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 14909 20401 20274 24989 43396 52785 48029 87798 95659 162476 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Semiconductors Portfolio 69.09% 30.96% 32.66% MSCI U.S. IMI Semiconductors & Semiconductor Equipment 25-50 Index 69.85% 30.22% 32.15% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.6909 0.3096 0.3266 0.6985 0.3022 0.3215 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>32,691,330,966</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;">63</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>145,076,802</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;">87<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> 32691330966 63 145076802 0.87       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 88.3   Technology Hardware, Storage & Peripherals 3.2   Electronic Equipment, Instruments & Components 2.6   Electrical Equipment 0.1   Software 0.0   Financial Services 0.0   Metals & Mining 0.0       Common Stocks 93.3 Preferred Stocks 0.9 Preferred Securities 0.0 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 5.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.3                       Preferred Stocks - 0.9                     Preferred Securities - 0.0                 Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 5.8   United States 84.9 Netherlands 9.3 Israel 2.7 Japan 2.6 Taiwan 0.5 Canada 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 84.9                       Netherlands - 9.3                          Israel - 2.7                               Japan - 2.6                                Taiwan - 0.5                               Canada - 0.0                                   0.883 0.032 0.026 0.001 0.000 0.000 0.000 0.933 0.009 0.000 0.000 0.058 0.849 0.093 0.027 0.026 0.005 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.1   Broadcom Inc 10.6   Marvell Technology Inc 8.6   NXP Semiconductors NV 6.3   Micron Technology Inc 5.0   ON Semiconductor Corp 4.9   Monolithic Power Systems Inc 4.9   Lam Research Corp 4.9   GlobalFoundries Inc 4.0   Western Digital Corp 3.1     76.4   0.241 0.106 0.086 0.063 0.050 0.049 0.049 0.049 0.040 0.031 2026-02-28 Retailing Portfolio Retailing Portfolio FSRPX This annual shareholder report contains information about Retailing Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Retailing Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Multi-Sector Retailing 25/50 Linked Index for the fiscal year, especially within broadline retail. Security selection and an overweight in footwear also hampered the fund's result. Also detracting from our result was stock selection in automotive 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 biggest individual relative detractor this period was avoiding Dollar General, an index component that gained about 115%. An underweight in Carvana (+43%) also hurt. This period we decreased our stake in Carvana. Another notable relative detractor was our stake in Lululemon Athletica (-48%), where we decreased 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 contributor to performance versus the industry index was stock picking in food retail. Picks and an overweight in apparel retail also boosted relative performance. Also bolstering our relative result was an underweight in 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 an overweight in Ulta Beauty (+87%). This period we decreased our investment in the stock. An overweight in Dollar Tree (+74%), one of our biggest holdings, was another plus. An overweight in American Eagle Outfitters (+97%) also helped. 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 apparel retail industry and a lower allocation to automotive 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Retailing Portfolio $10,000 $11,720 $15,079 $16,109 $17,241 $27,568 $27,230 $23,455 $31,250 $35,241 $37,017 MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index $10,000 $11,771 $15,393 $16,601 $17,381 $28,079 $29,252 $25,833 $33,909 $38,711 $41,719 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Retailing Portfolio</span> 10000 11720 15079 16109 17241 27568 27230 23455 31250 35241 37017 <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 11771 15393 16601 17381 28079 29252 25833 33909 38711 41719 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Retailing Portfolio 5.04% 6.07% 13.98% MSCI U.S. IMI Multi-Sector Retailing 25-50 Linked Index 7.77% 8.24% 15.35% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0504 0.0607 0.1398 0.0777 0.0824 0.1535 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,442,508,181</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>16,419,579</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;">46<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> 2442508181 42 16419579 0.46       TOP INDUSTRIES (% of Fund's net assets) Specialty Retail 36.6   Consumer Staples Distribution & Retail 27.3   Broadline Retail 26.2   Textiles, Apparel & Luxury Goods 9.1   Household Durables 0.3       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 95.6 Brazil 2.5 Canada 0.8 Germany 0.6 Finland 0.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 95.6                       Brazil - 2.5                               Canada - 0.8                               Germany - 0.6                              Finland - 0.5                                  0.366 0.273 0.262 0.091 0.003 0.995 0.005 0.956 0.025 0.008 0.006 0.005 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 21.8   Walmart Inc 10.9   Lowe's Cos Inc 7.2   Costco Wholesale Corp 6.7   TJX Cos Inc/The 5.0   Home Depot Inc/The 3.7   Dollar Tree Inc 3.4   Ross Stores Inc 3.0   O'Reilly Automotive Inc 3.0   NIKE Inc Class B 2.7     67.4   0.218 0.109 0.072 0.067 0.050 0.037 0.034 0.030 0.030 0.027 2026-02-28 Pharmaceuticals Portfolio Pharmaceuticals Portfolio FPHAX This annual shareholder report contains information about Pharmaceuticals Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Pharmaceuticals Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index for the fiscal year, especially within biotechnology. Stock picks in pharmaceuticals 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 non-index stake in Avidity Biosciences gained 130% and was the top individual relative contributor. The stock was not held at period end. The second-largest relative contributor was an overweight in Elanco Animal Health (+137%). The stock was one of our biggest holdings. A non-index stake in UCB gained 59% and notably helped. 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 biggest detractor from performance versus the industry index was security selection in health care equipment. Stock selection in diversified financial services 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 largest individual relative detractor was an underweight in Johnson &amp; Johnson (+55%). This was an investment we established this period. The company was one of the fund's biggest holdings at period end. A non-index stake in Legend Biotech returned -46% and was a second notable relative detractor. This period we increased our stake in Legend Biotech. The stock was one of the fund's biggest holdings. Not owning Novartis, an index component that gained 60%, was another notable relative detractor.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Pharmaceuticals Portfolio $10,000 $10,057 $10,621 $12,124 $13,587 $16,368 $17,210 $17,485 $23,491 $24,742 $31,600 MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index $10,000 $10,453 $11,275 $12,700 $12,515 $14,939 $16,066 $15,809 $19,659 $20,877 $25,178 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Pharmaceuticals Portfolio</span> 10000 10057 10621 12124 13587 16368 17210 17485 23491 24742 31600 <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 10453 11275 12700 12515 14939 16066 15809 19659 20877 25178 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Pharmaceuticals Portfolio 27.72% 14.06% 12.19% MSCI North America IMI + ADR Custom Pharmaceuticals 25/50 Linked Index 20.60% 11.00% 9.67% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2772 0.1406 0.1219 0.2060 0.1100 0.0967 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,516,495,874</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;">60</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>7,889,417</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;">77<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> 1516495874 60 7889417 0.77       TOP INDUSTRIES (% of Fund's net assets) Pharmaceuticals 79.1   Biotechnology 19.4   Financial Services 0.1   Software 0.1   Consumer Staples Distribution & Retail 0.0       Common Stocks 98.4 Preferred Stocks 0.3 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.4                       Preferred Stocks - 0.3                     Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 1.3   United States 84.2 Belgium 7.0 United Kingdom 4.8 Germany 1.9 Canada 0.8 Netherlands 0.7 Denmark 0.4 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 84.2                       Belgium - 7.0                              United Kingdom - 4.8                       Germany - 1.9                              Canada - 0.8                               Netherlands - 0.7                          Denmark - 0.4                              Switzerland - 0.2                              0.791 0.194 0.001 0.001 0.000 0.984 0.003 0.000 0.013 0.842 0.070 0.048 0.019 0.008 0.007 0.004 0.002 TOP HOLDINGS(% of Fund's net assets)     Eli Lilly & Co 24.8   GSK PLC ADR 10.1   Johnson & Johnson 7.0   UCB SA 5.0   Astrazeneca PLC (United States) 4.8   Roche Holding AG non-voting shares 4.8   Gilead Sciences Inc 4.7   Merck & Co Inc 4.6   Elanco Animal Health Inc 4.4   Legend Biotech Corp ADR 3.3     73.5   0.248 0.101 0.070 0.050 0.048 0.048 0.047 0.046 0.044 0.033 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Medical Technology and Devices Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 60 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index for the fiscal year, especially an overweight in health care technology. Security selection in health care equipment also hampered the fund's result. Also detracting from our result was an underweight 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 biggest individual relative detractor was an overweight in Boston Scientific (-26%). The stock was the fund's biggest holding this period. A second notable relative detractor was an underweight in IDEXX Laboratories (+50%). Our stake in Inspire Medical Systems (-49%) also detracted. IDEXX and Inspire 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>In contrast, the primary contributor to performance versus the industry index was stock picking in biotechnology. Stock picking in health care services and health care supplies 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 fund's non-index stake in Exact Sciences gained about 114% and was the top individual relative contributor. The stock was not held at period end. The second-largest relative contributor was our non-index stake in Conformal Medical (+278%). Another notable relative contributor was an overweight in Penumbra (+21%). This period we decreased our stake in Penumbra. The company was one of 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>Notable changes in positioning include decreased exposure to the health care supplies industry and a higher allocation to life sciences tools &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 29, 2016 through February 28, 2026. Initial investment of $10,000. Medical Technology and Devices Portfolio $10,000 $13,013 $15,356 $19,019 $20,438 $29,472 $30,342 $26,812 $28,673 $30,740 $28,809 MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index $10,000 $12,520 $15,515 $18,955 $20,163 $28,758 $29,951 $25,922 $28,532 $29,093 $27,668 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Medical Technology and Devices Portfolio</span> 10000 13013 15356 19019 20438 29472 30342 26812 28673 30740 28809 <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 12520 15515 18955 20163 28758 29951 25922 28532 29093 27668 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Medical Technology and Devices Portfolio -6.28% -0.45% 11.16% MSCI U.S. IMI Custom Health Care Technology and Equipment 25/50 Linked Index -4.90% -0.77% 10.71% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.0628 -0.0045 0.1116 -0.0490 -0.0077 0.1071 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>3,647,551,072</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>26,155,604</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;">54<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> 3647551072 66 26155604 0.54       TOP INDUSTRIES (% of Fund's net assets) Health Care Equipment & Supplies 49.2   Life Sciences Tools & Services 35.5   Health Care Technology 5.6   Biotechnology 4.3   Health Care Providers & Services 2.4   Chemicals 0.2   Pharmaceuticals 0.1       Common Stocks 94.9 Preferred Stocks 2.4 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 2.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 94.9                       Preferred Stocks - 2.4                     Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 2.7   United States 98.4 France 1.6 China 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 98.4                       France - 1.6                               China - 0.0                                    0.492 0.355 0.056 0.043 0.024 0.002 0.001 0.949 0.024 0.000 0.027 0.984 0.016 0.000 TOP HOLDINGS(% of Fund's net assets)     Danaher Corp 13.6   Boston Scientific Corp 12.0   Thermo Fisher Scientific Inc 9.6   Intuitive Surgical Inc 8.6   Edwards Lifesciences Corp 5.5   Abbott Laboratories 4.8   Stryker Corp 4.8   Veeva Systems Inc Class A 2.6   Masimo Corp 2.6   Insulet Corp 2.4     66.5   0.136 0.120 0.096 0.086 0.055 0.048 0.048 0.026 0.026 0.024 2026-02-28 Materials Portfolio Materials Portfolio FSDPX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Materials Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Materials Portfolio $10,000 $13,052 $15,004 $13,152 $11,367 $16,787 $19,973 $20,106 $20,743 $20,792 $26,208 MSCI U.S. IMI Materials 25-50 Index $10,000 $13,426 $15,400 $14,412 $13,644 $19,555 $22,847 $22,996 $24,957 $25,847 $32,639 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Materials Portfolio</span> 10000 13052 15004 13152 11367 16787 19973 20106 20743 20792 26208 <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 13426 15400 14412 13644 19555 22847 22996 24957 25847 32639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Materials Portfolio 26.05% 9.32% 10.11% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 12.56% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2605 0.0932 0.1011 0.2628 0.1079 0.1256 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Materials Portfolio Fidelity Advisor® Materials Fund Class Z FIJFX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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, 2026. Initial investment of $10,000. Class Z $10,000 $9,265 $8,021 $11,865 $14,135 $14,249 $14,722 $14,773 $18,641 MSCI U.S. IMI Materials 25-50 Index $10,000 $9,364 $8,865 $12,706 $14,845 $14,942 $16,216 $16,795 $21,207 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652 $26,501   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 18641 <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 21207 <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 26501 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 26.18% 9.46% 8.76% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 10.67% S&P 500® Index 16.99% 14.19% 14.05% 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. 0.2618 0.0946 0.0876 0.2628 0.1079 0.1067 0.1699 0.1419 0.1405 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Materials Portfolio Fidelity Advisor® Materials Fund Class M FMFTX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>139<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 139 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $12,524 $14,315 $12,477 $10,724 $15,749 $18,635 $18,662 $19,153 $19,095 $23,937 MSCI U.S. IMI Materials 25-50 Index $10,000 $13,426 $15,400 $14,412 $13,644 $19,555 $22,847 $22,996 $24,957 $25,847 $32,639 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 12524 14315 12477 10724 15749 18635 18662 19153 19095 23937 <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 13426 15400 14412 13644 19555 22847 22996 24957 25847 32639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   20.97% 7.96% 9.12% Class M (without 3.50% sales charge) 25.36% 8.73% 9.51% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 12.56% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2097 0.0796 0.0912 0.2536 0.0873 0.0951 0.2628 0.1079 0.1256 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Materials Portfolio Fidelity Advisor® Materials Fund Class I FMFEX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>82<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 82 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class I $10,000 $13,055 $15,010 $13,157 $11,374 $16,799 $19,987 $20,120 $20,756 $20,799 $26,210 MSCI U.S. IMI Materials 25-50 Index $10,000 $13,426 $15,400 $14,412 $13,644 $19,555 $22,847 $22,996 $24,957 $25,847 $32,639 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 13055 15010 13157 11374 16799 19987 20120 20756 20799 26210 <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 13426 15400 14412 13644 19555 22847 22996 24957 25847 32639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 26.01% 9.30% 10.11% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 12.56% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2601 0.0930 0.1011 0.2628 0.1079 0.1256 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Materials Portfolio Fidelity Advisor® Materials Fund Class C FMFCX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>195<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 195 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class C $10,000 $12,921 $14,701 $12,755 $10,911 $15,950 $18,781 $18,714 $19,109 $19,098 $24,001 MSCI U.S. IMI Materials 25-50 Index $10,000 $13,426 $15,400 $14,412 $13,644 $19,555 $22,847 $22,996 $24,957 $25,847 $32,639 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 12921 14701 12755 10911 15950 18781 18714 19109 19098 24001 <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 13426 15400 14412 13644 19555 22847 22996 24957 25847 32639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 23.74% 8.19% 9.15% Class C 24.74% 8.19% 9.15% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 12.56% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2374 0.0819 0.0915 0.2474 0.0819 0.0915 0.2628 0.1079 0.1256 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Materials Portfolio Fidelity Advisor® Materials Fund Class A FMFAX This annual shareholder report contains information about Materials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>111<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 111 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Materials 25/50 Index for the fiscal year, especially within gold. Stock picks in diversified metals &amp; mining also hampered the fund's result. Also detracting from our result were picks and an overweight in fertilizers &amp; agricultural 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 an underweight in Newmont (+209%). This period we increased our position in Newmont. The company was one of our largest holdings. The second-largest relative detractor was an underweight in Freeport-McMoRan (+87%). This period we increased our position in Freeport-McMoRan. The stock was among our biggest holdings at period end. An overweight in Mosaic (+17%) also hurt. This was a position we established this period. The stock 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 an overweight in diversified metals &amp; mining. Stock selection and an overweight in copper also boosted relative performance, as did picks and an underweight in commodity chemicals. Also helping our relative result was an underweight in paper &amp; plastic packaging products &amp; materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stake in First Quantum Minerals gained 145% and was the top individual relative contributor. This period we decreased our investment in First Quantum Minerals. The stock was among our biggest holdings this period. A stake in Wheaton Precious Metals gained 137% and was a second notable relative contributor. This period we decreased our investment in Wheaton Precious Metals. Another notable relative contributor was our stake in Agnico Eagle Mines (+164%). This period we decreased our investment in Agnico Eagle Mines. All of these contributors were non-index 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>Notable changes in positioning include higher allocations to the commodity chemicals and copper 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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $12,269 $14,066 $12,295 $10,597 $15,606 $18,514 $18,587 $19,123 $19,112 $24,019 MSCI U.S. IMI Materials 25-50 Index $10,000 $13,426 $15,400 $14,412 $13,644 $19,555 $22,847 $22,996 $24,957 $25,847 $32,639 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 12269 14066 12295 10597 15606 18514 18587 19123 19112 24019 <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 13426 15400 14412 13644 19555 22847 22996 24957 25847 32639 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   18.45% 7.72% 9.16% Class A (without 5.75% sales charge) 25.67% 9.01% 9.81% MSCI U.S. IMI Materials 25-50 Index 26.28% 10.79% 12.56% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1845 0.0772 0.0916 0.2567 0.0901 0.0981 0.2628 0.1079 0.1256 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>846,272,588</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>4,866,415</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> 846272588 54 4866415 0.56       TOP INDUSTRIES (% of Fund's net assets) Chemicals 52.2   Metals & Mining 30.8   Construction Materials 9.1   Containers & Packaging 6.9       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 91.6 Canada 5.6 Zambia 1.4 Brazil 1.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.6                       Canada - 5.6                               Zambia - 1.4                               Brazil - 1.4                                   0.522 0.308 0.091 0.069 0.990 0.010 0.916 0.056 0.014 0.014 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 15.5   Ecolab Inc 7.7   Newmont Corp 6.8   Freeport-McMoRan Inc 5.3   Corteva Inc 3.8   Solstice Advanced Materials Inc 3.6   Air Products and Chemicals Inc 3.6   Nucor Corp 3.3   CRH PLC 3.2   LyondellBasell Industries NV Class A1 3.0     55.8   0.155 0.077 0.068 0.053 0.038 0.036 0.036 0.033 0.032 0.030 2026-02-28 Leisure Portfolio Leisure Portfolio FDLSX This annual shareholder report contains information about Leisure Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Leisure Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 65 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Services 25/50 Index for the fiscal year, especially within restaurants. Stock picking and an overweight in casinos &amp; gaming also hampered the fund's result. Also detracting from our result were picks in hotels, resorts &amp; cruise lines.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Marriott International (+24%). This period we decreased our position in Marriott International. The second-largest relative detractor was an underweight in DoorDash (-11%). This period we increased our position in DoorDash. The company was among our biggest holdings. Another notable relative detractor was an overweight in DraftKings (-46%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 food distributors. Security selection and an underweight in leisure facilities also boosted relative performance. Also helping our relative result were stock picks in leisure 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 top individual relative contributor was our stake in Las Vegas Sands (+60%). This period we decreased our investment in Las Vegas Sands. A second notable relative contributor was an overweight in Hilton Worldwide Holdings (+18%). The stock was the fund's biggest holding at period end. A non-index stake in Viking Holdings gained 87% and notably helped. This was a stake 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 casinos &amp; gaming industry and a higher allocation to hotels, resorts &amp; cruise lines.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Leisure Portfolio $10,000 $11,126 $13,880 $14,502 $14,757 $20,852 $22,423 $22,375 $27,625 $33,678 $30,660 MSCI U.S. IMI Consumer Services 25-50 Index $10,000 $11,561 $14,507 $15,642 $15,896 $20,731 $20,458 $20,419 $25,030 $29,710 $28,652 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Leisure Portfolio</span> 10000 11126 13880 14502 14757 20852 22423 22375 27625 33678 30660 <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 11561 14507 15642 15896 20731 20458 20419 25030 29710 28652 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Leisure Portfolio -8.96% 8.02% 11.86% MSCI U.S. IMI Consumer Services 25-50 Index -3.56% 6.69% 11.10% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.0896 0.0802 0.1186 -0.0356 0.0669 0.1110 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>533,206,997</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>4,191,743</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> 533206997 38 4191743 0.65       TOP INDUSTRIES (% of Fund's net assets) Hotels, Restaurants & Leisure 91.9   Diversified Consumer Services 3.3   Consumer Staples Distribution & Retail 1.3   Food Products 0.7   IT Services 0.6   Broadline Retail 0.4       Common Stocks 98.2 Short-Term Investments and Net Other Assets (Liabilities) 1.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.2                       Short-Term Investments and Net Other Assets (Liabilities) - 1.8   United States 99.1 Canada 0.9 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.1                       Canada - 0.9                                   0.919 0.033 0.013 0.007 0.006 0.004 0.982 0.018 0.991 0.009 TOP HOLDINGS(% of Fund's net assets)     Hilton Worldwide Holdings Inc 9.9   Booking Holdings Inc 9.3   Starbucks Corp 9.2   McDonald's Corp 9.1   Carnival Corp 5.9   Expedia Group Inc Class A 5.2   Airbnb Inc Class A 4.9   Yum! Brands Inc 4.9   Chipotle Mexican Grill Inc 4.7   DoorDash Inc Class A 4.5     67.6   0.099 0.093 0.092 0.091 0.059 0.052 0.049 0.049 0.047 0.045 2026-02-28 Insurance Portfolio Insurance Portfolio FSPCX This annual shareholder report contains information about Insurance Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Insurance Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 67 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Insurance 25/50 Index for the fiscal year, led by property &amp; casualty insurance firms. An overweight in reinsurance also boosted the fund's relative performance. Also bolstering our relative result were picks among insurance brokers.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Hiscox gained 43% and was the top individual relative contributor. This was an investment we established this period. A second notable relative contributor was an overweight in Hartford Insurance (+21%). The stock was among our biggest holdings. An overweight in Reinsurance Group of America (+9%) also helped. The company 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 biggest detractors from performance versus the industry index were picks and an underweight in life &amp; health insurance. Also hurting our result was stock selection in the diversified financial services and reinsurance categories.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Arthur J Gallagher (-32%). The stock was one of the fund's biggest holdings. A non-index stake in Corebridge Financial returned -22% and was a second notable relative detractor. This period we decreased our position in Corebridge Financial. Another notable relative detractor this period was avoiding AFLAC, an index component that gained roughly 5%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 lower allocations to the diversified financial services and insurance brokers 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Insurance Portfolio $10,000 $13,160 $14,425 $14,383 $15,239 $17,606 $21,951 $23,872 $29,423 $36,474 $35,028 MSCI U.S. IMI Insurance 25-50 Index $10,000 $13,284 $14,398 $14,912 $15,430 $17,553 $21,830 $24,069 $28,747 $36,020 $34,416 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Insurance Portfolio</span> 10000 13160 14425 14383 15239 17606 21951 23872 29423 36474 35028 <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 13284 14398 14912 15430 17553 21830 24069 28747 36020 34416 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Insurance Portfolio -3.96% 14.75% 13.36% MSCI U.S. IMI Insurance 25-50 Index -4.45% 14.42% 13.16% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.0396 0.1475 0.1336 -0.0445 0.1442 0.1316 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>670,396,488</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;">25</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>5,797,034</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;">48<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> 670396488 25 5797034 0.48       TOP INDUSTRIES (% of Fund's net assets) Insurance 96.3   Financial Services 3.3       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 97.7 United Kingdom 2.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.7                       United Kingdom - 2.3                           0.963 0.033 0.996 0.004 0.977 0.023 TOP HOLDINGS(% of Fund's net assets)     Chubb Ltd 13.8   Progressive Corp/The 9.4   Arthur J Gallagher & Co 7.4   Hartford Insurance Group Inc/The 6.6   Reinsurance Group of America Inc 6.3   Travelers Companies Inc/The 5.2   Arch Capital Group Ltd 4.8   American Financial Group Inc/OH 4.8   Aon PLC 4.7   Willis Towers Watson PLC 4.5     67.5   0.138 0.094 0.074 0.066 0.063 0.052 0.048 0.048 0.047 0.045 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Health Care Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 66 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Providers &amp; Services 25/50 Index for the fiscal year, especially within health care services. Stock picking in managed health care also hampered the fund's result. Also hurting our result were stock picks and an underweight 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 largest individual relative detractor was an underweight in Cardinal Health (+79%). This was an investment we established this period. The stock was one of our biggest holdings. The second-largest relative detractor was an underweight in Centene (-23%). This period we decreased our stake in Centene. Another notable relative detractor was our stake in agilon health (-86%). 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 an underweight in managed health care. Security selection in health care distributors also boosted the fund's relative performance. Also bolstering our relative result was an overweight in health care 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 top individual relative contributor was an overweight in BrightSpring Health Services (+113%). We decreased our stake in BrightSpring Health this period. A second notable relative contributor was an overweight in Tenet Healthcare (+89%). The company was one of the fund's largest holdings. Another notable relative contributor this quarter was an underweight, on average, in Hims &amp; Hers Health (-68%). The fund did not hold the stock at quarter 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 health care distributors industry and a lower allocation to managed health care.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Health Care Services Portfolio $10,000 $11,971 $14,010 $15,356 $16,337 $21,145 $24,708 $24,550 $26,591 $24,668 $23,411 MSCI U.S. IMI Health Care Providers & Services 25-50 Index $10,000 $11,888 $14,281 $15,123 $15,595 $20,342 $25,559 $25,464 $27,721 $27,900 $28,857 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Health Care Services Portfolio</span> 10000 11971 14010 15356 16337 21145 24708 24550 26591 24668 23411 <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 11888 14281 15123 15595 20342 25559 25464 27721 27900 28857 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Health Care Services Portfolio -5.10% 2.06% 8.88% MSCI U.S. IMI Health Care Providers & Services 25-50 Index 3.43% 7.24% 11.18% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.0510 0.0206 0.0888 0.0343 0.0724 0.1118 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>811,402,696</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>6,173,136</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;">71<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> 811402696 42 6173136 0.71       TOP INDUSTRIES (% of Fund's net assets) Health Care Providers & Services 98.7   Health Care Technology 1.3   Health Care Equipment & Supplies 0.1       Common Stocks 99.6 Preferred Stocks 0.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.6                       Preferred Stocks - 0.5                   Short-Term Investments and Net Other Assets (Liabilities) - (0.1)%   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.987 0.013 0.001 0.996 0.005 1.000 TOP HOLDINGS(% of Fund's net assets)     UnitedHealth Group Inc 14.7   McKesson Corp 12.3   CVS Health Corp 10.5   Cencora Inc 7.0   Elevance Health Inc 5.1   Cigna Group/The 4.7   HCA Healthcare Inc 4.5   Tenet Healthcare Corp 3.7   Cardinal Health Inc 3.6   Chemed Corp 3.3     69.4   0.147 0.123 0.105 0.070 0.051 0.047 0.045 0.037 0.036 0.033 2026-02-28 Health Care Portfolio Health Care Portfolio FSPHX This annual shareholder report contains information about Health Care Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Health Care Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 65 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Health Care 25/50 Index for the fiscal year, led by biotechnology. Stock picks in pharmaceuticals and health care technology 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 Exact Sciences (+112%). The stock was not held at period end. The second-largest relative contributor was an overweight in Cogent Biosciences (+418%). An overweight in Alnylam Pharmaceuticals (+36%) also helped. The stock was one of our 15-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 detractor from performance versus the sector index was an underweight in pharmaceuticals. An overweight in health care technology also hampered the fund's result. Also hurting our result were stock picks and an overweight 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 underweight in Johnson &amp; Johnson (+55%). This was a position we established this period. The stock was among our five-biggest holdings at period end. A second notable relative detractor was an overweight in Boston Scientific (-25%). The stock was the fund's five-biggest holding this period. A non-index stake in Legend Biotech returned -46% and notably 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>Notable changes in positioning include increased exposure to the pharmaceuticals industry and a lower allocation to managed health care.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Health Care Portfolio $10,000 $11,643 $13,447 $15,235 $16,735 $22,760 $21,924 $21,475 $23,972 $24,438 $27,229 MSCI U.S. IMI Health Care 25-50 Index $10,000 $11,733 $13,549 $15,064 $15,595 $20,282 $22,226 $21,799 $25,021 $26,015 $28,794 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Health Care Portfolio</span> 10000 11643 13447 15235 16735 22760 21924 21475 23972 24438 27229 <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 11733 13549 15064 15595 20282 22226 21799 25021 26015 28794 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Health Care Portfolio 11.42% 3.65% 10.54% MSCI U.S. IMI Health Care 25-50 Index 10.68% 7.26% 11.16% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1142 0.0365 0.1054 0.1068 0.0726 0.1116 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,194,101,560</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;">134</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>37,373,077</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> 6194101560 134 37373077 0.69       TOP INDUSTRIES (% of Fund's net assets) Biotechnology 38.8   Pharmaceuticals 24.3   Health Care Equipment & Supplies 12.9   Life Sciences Tools & Services 10.6   Health Care Providers & Services 10.4   Health Care Technology 2.5   Chemicals 0.1       Common Stocks 98.0 Preferred Stocks 1.6 Bonds 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.3 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.0                       Preferred Stocks - 1.6                     Bonds - 0.1                                Short-Term Investments and Net Other Assets (Liabilities) - 0.3   United States 88.8 Netherlands 3.4 Denmark 2.9 Belgium 2.6 Canada 0.9 Germany 0.6 France 0.4 United Kingdom 0.3 Israel 0.1 China 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 88.8                       Netherlands - 3.4                          Denmark - 2.9                              Belgium - 2.6                              Canada - 0.9                               Germany - 0.6                              France - 0.4                               United Kingdom - 0.3                       Israel - 0.1                               China - 0.0                                    0.388 0.243 0.129 0.106 0.104 0.025 0.001 0.980 0.016 0.001 0.003 0.888 0.034 0.029 0.026 0.009 0.006 0.004 0.003 0.001 0.000 TOP HOLDINGS(% of Fund's net assets)     Eli Lilly & Co 7.0   Danaher Corp 6.4   Boston Scientific Corp 6.1   Johnson & Johnson 5.7   AbbVie Inc 4.3   Ascendis Pharma A/S ADR 2.7   UCB SA 2.6   Gilead Sciences Inc 2.6   Merck & Co Inc 2.6   Argenx SE ADR 2.5     42.5   0.070 0.064 0.061 0.057 0.043 0.027 0.026 0.026 0.026 0.025 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Gold Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 123 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Gold Portfolio $10,000 $12,038 $10,777 $10,944 $12,870 $15,052 $16,664 $13,470 $11,883 $18,627 $52,482 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $12,188 $11,330 $12,068 $15,002 $18,040 $20,080 $16,152 $16,043 $24,529 $72,033 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Gold Portfolio</span> 10000 12038 10777 10944 12870 15052 16664 13470 11883 18627 52482 <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 12188 11330 12068 15002 18040 20080 16152 16043 24529 72033 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Gold Portfolio 181.75% 28.38% 18.03% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 21.83% S&P 500® Index 16.99% 14.19% 15.50%     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. 1.8175 0.2838 0.1803 1.9366 0.3190 0.2183 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 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, 2025. 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, 2026 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;">Operating expenses</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;"></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, 2025. 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, 2026 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;">Operating expenses</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;"></div> 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<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 0.0057 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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, 2026. Initial investment of $10,000. Class Z $10,000 $11,480 $13,518 $15,832 $17,554 $14,207 $12,549 $19,696 $55,524 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 $71,099 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652 $26,501   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 55524 <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 71099 <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 26501 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 181.90% 28.53% 26.01% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 30.29% S&P 500® Index 16.99% 14.19% 14.05% 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. 1.8190 0.2853 0.2601 1.9366 0.3190 0.3029 0.1699 0.1419 0.1405 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 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, 2025. 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, 2026 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;">Operating expenses</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;"></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, 2025. 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, 2026 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;">Operating expenses</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;"></div> 2026-02-28 Gold Portfolio Fidelity Advisor® Gold Fund Class M FGDTX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>227<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.19<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> 227 0.0119 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $11,543 $10,269 $10,367 $12,112 $14,085 $15,504 $12,457 $10,930 $17,041 $47,749 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $12,188 $11,330 $12,068 $15,002 $18,040 $20,080 $16,152 $16,043 $24,529 $72,033 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 11543 10269 10367 12112 14085 15504 12457 10930 17041 47749 <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 12188 11330 12068 15002 18040 20080 16152 16043 24529 72033 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   170.39% 26.75% 16.92% Class M (without 3.50% sales charge) 180.20% 27.66% 17.34% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 21.83% S&P 500® Index 16.99% 14.19% 15.50%     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. 1.7039 0.2675 0.1692 1.8020 0.2766 0.1734 1.9366 0.3190 0.2183 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 0.029 2026-02-28 Gold Portfolio Fidelity Advisor® Gold Fund Class I FGDIX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>132<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 132 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class I $10,000 $12,041 $10,781 $10,947 $12,874 $15,058 $16,675 $13,474 $11,890 $18,633 $52,463 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $12,188 $11,330 $12,068 $15,002 $18,040 $20,080 $16,152 $16,043 $24,529 $72,033 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 12041 10781 10947 12874 15058 16675 13474 11890 18633 52463 <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 12188 11330 12068 15002 18040 20080 16152 16043 24529 72033 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 181.56% 28.36% 18.03% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 21.83% S&P 500® Index 16.99% 14.19% 15.50%     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. 1.8156 0.2836 0.1803 1.9366 0.3190 0.2183 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 0.029 2026-02-28 Gold Portfolio Fidelity Advisor® Gold Fund Class C FGDCX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>321<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.69<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> 321 0.0169 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class C $10,000 $11,919 $10,566 $10,621 $12,365 $14,319 $15,696 $12,557 $10,961 $17,142 $48,149 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $12,188 $11,330 $12,068 $15,002 $18,040 $20,080 $16,152 $16,043 $24,529 $72,033 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 11919 10566 10621 12365 14319 15696 12557 10961 17142 48149 <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 12188 11330 12068 15002 18040 20080 16152 16043 24529 72033 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 177.81% 27.06% 17.02% Class C 178.81% 27.06% 17.02% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 21.83% S&P 500® Index 16.99% 14.19% 15.50%     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. 1.7781 0.2706 0.1702 1.7881 0.2706 0.1702 1.9366 0.3190 0.2183 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 0.029 2026-02-28 Gold Portfolio Fidelity Advisor® Gold Fund Class A FGDAX This annual shareholder report contains information about Gold Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>179<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.94<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> 179 0.0094 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 S&amp;P Global BMI Gold Capped 20/45 Linked Index for the fiscal year, especially within gold. Security selection in diversified financial services 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 an overweight in Franco-Nevada (+97%). The stock was one of our largest holdings. The second-largest relative detractor was an overweight in Alamos Gold (+143%). The company was among our 15-largest holdings this period. Another notable relative detractor was an underweight in Gold Fields (+242%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 copper, which is not part of the index. Stock picking in silver and in precious metals &amp; minerals, two groups not included in the index, 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 fund's top individual relative contributor was an overweight in IAMGOLD (+346%). This period we increased our position in IAMGOLD. The company was among the fund's biggest holdings at period end. A second notable relative contributor was our overweight stake in Lundin Gold (+245%). This period we decreased our investment in Lundin Gold. Another notable relative contributor was an underweight in Royal Gold (+106%). This period we increased our position in Royal Gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $11,307 $10,090 $10,211 $11,970 $13,956 $15,403 $12,412 $10,912 $17,065 $47,933 S&P® Global BMI Gold Capped 20/45 Linked Index $10,000 $12,188 $11,330 $12,068 $15,002 $18,040 $20,080 $16,152 $16,043 $24,529 $72,033 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 11307 10090 10211 11970 13956 15403 12412 10912 17065 47933 <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 12188 11330 12068 15002 18040 20080 16152 16043 24529 72033 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   164.73% 26.48% 16.97% Class A (without 5.75% sales charge) 180.88% 27.99% 17.66% S&P® Global BMI Gold Capped 20/45 Linked Index 193.66% 31.90% 21.83% S&P 500® Index 16.99% 14.19% 15.50%     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. 1.6473 0.2648 0.1697 1.8088 0.2799 0.1766 1.9366 0.3190 0.2183 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>6,057,278,812</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;">49</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>19,863,732</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;">60<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> 6057278812 49 19863732 0.60       TOP INDUSTRIES (% of Fund's net assets) Metals & Mining* 99.8     *Includes gold bullion and/or silver bullion.   Common Stocks 99.7 Other Investments 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.7                       Other Investments - 0.1                    Short-Term Investments and Net Other Assets (Liabilities) - 0.2   Canada 51.5 United States 18.2 Brazil 8.0 Australia 7.8 Burkina Faso 3.7 Turkey 2.9 China 2.6 South Africa 1.5 Cote d'Ivoire 1.3 Others 2.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     Canada - 51.5                              United States - 18.2                       Brazil - 8.0                               Australia - 7.8                            Burkina Faso - 3.7                         Turkey - 2.9                               China - 2.6                                South Africa - 1.5                         Cote d'Ivoire - 1.3                        Others - 2.5                                   0.998 0.997 0.001 0.002 0.515 0.182 0.080 0.078 0.037 0.029 0.026 0.015 0.013 0.025 TOP HOLDINGS(% of Fund's net assets)     Newmont Corp 12.9   Agnico Eagle Mines Ltd/CA 12.4   Wheaton Precious Metals Corp 8.0   Franco-Nevada Corp 6.6   Kinross Gold Corp 5.6   Barrick Mining Corp 4.6   Anglogold Ashanti Plc 4.3   IAMGOLD Corp 3.7   Coeur Mining Inc 3.5   Eldorado Gold Corp 2.9     64.5   0.129 0.124 0.080 0.066 0.056 0.046 0.043 0.037 0.035 0.029 2026-02-28 Financials Portfolio Financials Portfolio FIDSX This annual shareholder report contains information about Financials Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Financials Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 69 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 property &amp; casualty insurance. Also helping our relative result were stock picks and an overweight in regional banks. Stock picking in asset management &amp; custody banks further 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 FirstCash Holdings (+74%). This period we decreased our stake in FirstCash Holdings. A second notable relative contributor was an underweight in Visa (-11%). The stock was not held at period end. An overweight in State Street (+33%) also contributed. The company 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>In contrast, the biggest detractor from performance versus the sector index was an overweight in diversified financial services. Stock picking in investment banking &amp; brokerage also hampered the fund's result. Also hurting our result were security selection and an overweight in insurance brokers.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Goldman Sachs, an index component that gained about 40%. A second notable relative detractor was an overweight in Mastercard (-10%). The company was the fund's biggest holding. Another notable relative detractor was an overweight in Blue Owl Capital (-48%). This period we increased our position in Blue Owl Capital.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 consumer finance industry and a higher allocation to asset management &amp; custody banks.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Financials Portfolio $10,000 $13,878 $16,422 $15,287 $15,870 $20,297 $24,857 $24,037 $26,956 $35,869 $37,582 MSCI U.S. IMI Financials 5% Capped Linked Index $10,000 $14,639 $16,983 $16,300 $16,345 $20,422 $24,895 $23,683 $26,783 $35,205 $36,043 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Financials Portfolio</span> 10000 13878 16422 15287 15870 20297 24857 24037 26956 35869 37582 <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 14639 16983 16300 16345 20422 24895 23683 26783 35205 36043 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Financials Portfolio 4.77% 13.11% 14.16% MSCI U.S. IMI Financials 5% Capped Linked Index 2.38% 12.03% 13.68% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0477 0.1311 0.1416 0.0238 0.1203 0.1368 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>971,733,068</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>6,877,164</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;">37<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> 971733068 66 6877164 0.37       TOP INDUSTRIES (% of Fund's net assets) Banks 36.3   Capital Markets 25.4   Insurance 19.3   Financial Services 14.1   Consumer Finance 4.5   Professional Services 1.2       Common Stocks 100.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.8                    Short-Term Investments and Net Other Assets (Liabilities) - (0.8)%   United States 93.0 United Kingdom 2.3 France 1.5 Puerto Rico 1.2 Grand Cayman (UK Overseas Ter) 0.8 Australia 0.7 Mexico 0.5 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.0                       United Kingdom - 2.3                       France - 1.5                               Puerto Rico - 1.2                          Grand Cayman (UK Overseas Ter) - 0.8       Australia - 0.7                            Mexico - 0.5                                   0.363 0.254 0.193 0.141 0.045 0.012 1.008 0.930 0.023 0.015 0.012 0.008 0.007 0.005 TOP HOLDINGS(% of Fund's net assets)     Mastercard Inc Class A 9.4   Wells Fargo & Co 6.6   Bank of America Corp 6.6   Reinsurance Group of America Inc 4.4   Citigroup Inc 3.5   State Street Corp 3.2   Charles Schwab Corp/The 3.1   Chubb Ltd 2.9   Morgan Stanley 2.5   Capital One Financial Corp 2.3     44.5   0.094 0.066 0.066 0.044 0.035 0.032 0.031 0.029 0.025 0.023 2026-02-28 FinTech Portfolio FinTech Portfolio FSVLX This annual shareholder report contains information about FinTech Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">FinTech Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.74<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> 66 0.0074 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 consumer finance. Stock selection in transaction &amp; payment processing services also hampered the fund's result. Also hurting our result was an underweight in commercial &amp; residential mortgage 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 biggest individual relative detractor was our stake in Fiserv (-76%). The stock was not held at period end. A second notable relative detractor was our non-index stake in Figure Technology Solutions (-28%). This was an investment we established this period. An underweight in Synchrony Financial (+20%) 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>In contrast, the biggest contributor to performance versus the industry index was an overweight in consumer finance. Security selection in application software and data processing &amp; outsourced 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 our stake in Adyen (-32%). The company was one of the fund's 15-largest holdings this period. A second notable relative contributor was our non-index stake in Remitly Global (+23%). This was a stake we established this period. Another notable relative contributor this period was avoiding Xero, an index component that returned -44%.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 commercial &amp; residential mortgage 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 29, 2016 through February 28, 2026. Initial investment of $10,000. FinTech Portfolio $10,000 $13,357 $15,770 $16,532 $17,282 $21,074 $20,915 $17,881 $22,178 $25,994 $20,433 FactSet Financial Technologies Linked Index $10,000 $13,605 $15,252 $16,198 $16,791 $19,994 $19,948 $16,836 $21,233 $25,872 $21,235 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FinTech Portfolio</span> 10000 13357 15770 16532 17282 21074 20915 17881 22178 25994 20433 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Financial Technologies Linked Index</span> 10000 13605 15252 16198 16791 19994 19948 16836 21233 25872 21235 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year FinTech Portfolio -21.39% -0.62% 7.41% FactSet Financial Technologies Linked Index -17.92% 1.21% 7.82% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.2139 -0.0062 0.0741 -0.1792 0.0121 0.0782 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>83,539,626</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;">24</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>664,186</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;">239<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> 83539626 24 664186 2.39       TOP INDUSTRIES (% of Fund's net assets) Financial Services 50.5   Consumer Finance 20.0   Capital Markets 11.9   IT Services 9.0   Software 6.7   Banks 1.9       Common Stocks 100.0 Short-Term Investments and Net Other Assets (Liabilities) 0.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.0                      Short-Term Investments and Net Other Assets (Liabilities) - 0.0   United States 80.4 Canada 9.0 United Kingdom 4.3 Netherlands 3.7 Uruguay 2.4 Brazil 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 80.4                       Canada - 9.0                               United Kingdom - 4.3                       Netherlands - 3.7                          Uruguay - 2.4                              Brazil - 0.2                                   0.505 0.200 0.119 0.090 0.067 0.019 1.000 0.000 0.804 0.090 0.043 0.037 0.024 0.002 TOP HOLDINGS(% of Fund's net assets)     Visa Inc Class A 17.0   American Express Co 10.1   Shopify Inc Class A 9.0   Block Inc Class A 7.5   Capital One Financial Corp 6.6   Mastercard Inc Class A 5.0   Toast Inc Class A 4.7   Marex Group PLC 4.3   Rocket Cos Inc Class A 4.2   Remitly Global Inc 4.1     72.5   0.170 0.101 0.090 0.075 0.066 0.050 0.047 0.043 0.042 0.041 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Enterprise Technology Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 58 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 internet services &amp; infrastructure. Also hurting our result was security selection in IT consulting &amp; other services and data processing &amp; outsourced 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 was our stake in Kyndryl Holdings (-66%). The company was one of our largest holdings this period. The stock was not held on February 28. A second notable relative detractor was an underweight in Applied Digital (+241%). This was a stake we established this period. An overweight in ExlService Holdings (-36%) also hurt. The company was among 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 contributor to performance versus the industry index was an underweight in human resource &amp; employment services. An underweight in IT consulting &amp; other services also boosted the fund's relative performance. Lastly, the fund's position in cash contributed.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Fiserv (-74%). This period we decreased our stake in Fiserv. A non-index stake in Datadog returned -2% and was the second-largest relative contributor. An underweight in Paychex (-36%) also contributed. We exited this position during the 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 internet services &amp; infrastructure and data processing &amp; outsourced 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Enterprise Technology Services Portfolio $10,000 $12,105 $16,362 $18,987 $22,023 $29,658 $25,711 $22,657 $28,515 $32,509 $24,844 MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index $10,000 $12,608 $16,171 $18,489 $21,356 $27,957 $24,858 $22,407 $28,138 $32,942 $26,710 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Enterprise Technology Services Portfolio</span> 10000 12105 16362 18987 22023 29658 25711 22657 28515 32509 24844 <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 12608 16171 18489 21356 27957 24858 22407 28138 32942 26710 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Enterprise Technology Services Portfolio -23.58% -3.48% 9.53% MSCI U.S. IMI Enterprise Technology Services 25/50 Linked Index -18.92% -0.91% 10.32% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.2358 -0.0348 0.0953 -0.1892 -0.0091 0.1032 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>999,711,816</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>9,393,274</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;">57<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> 999711816 29 9393274 0.57       TOP INDUSTRIES (% of Fund's net assets) Financial Services 53.7   IT Services 30.4   Professional Services 10.7   Software 3.0   Interactive Media & Services 1.8       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 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.537 0.304 0.107 0.030 0.018 0.996 0.004 1.000 TOP HOLDINGS(% of Fund's net assets)     Visa Inc Class A 21.3   Mastercard Inc Class A 18.7   IBM Corporation 9.2   Cloudflare Inc Class A 3.9   Accenture PLC Class A 3.6   Snowflake Inc 3.3   Twilio Inc Class A 3.1   SS&C Technologies Holdings Inc 3.0   Automatic Data Processing Inc 3.0   ExlService Holdings Inc 2.5     71.6   0.213 0.187 0.092 0.039 0.036 0.033 0.031 0.030 0.030 0.025 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Energy Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 76 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Energy Portfolio $10,000 $13,605 $12,888 $11,947 $8,693 $9,825 $15,560 $19,392 $20,684 $21,418 $29,309 MSCI U.S. IMI Energy 25-50 Index $10,000 $12,968 $12,409 $12,315 $8,863 $10,156 $15,627 $19,393 $20,681 $22,508 $28,935 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Energy Portfolio</span> 10000 13605 12888 11947 8693 9825 15560 19392 20684 21418 29309 <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 12968 12409 12315 8863 10156 15627 19393 20681 22508 28935 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Energy Portfolio 36.84% 24.43% 11.35% MSCI U.S. IMI Energy 25-50 Index 28.55% 23.29% 11.21% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.3684 0.2443 0.1135 0.2855 0.2329 0.1121 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>3,522,950,308</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>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Defense and Aerospace Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 81 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Index for the fiscal year, especially within aerospace &amp; defense.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight stake in Rocket Lab (+135%). This was a stake we established this period. A second notable relative detractor was an overweight in Boeing (+30%). The company was one of our largest holdings. An overweight in HEICO (+13%) also detracted. The company 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 a modest out-of-index allocation to research &amp; consulting 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 top individual relative contributor was our non-index stake in Bombardier (+257%). The second-largest relative contributor this period was avoiding Archer Aviation, an index component that returned -20%. A non-index stake in Rolls-Royce Holdings gained roughly 94% and notably helped. The stock was one of the fund's biggest holdings.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Defense and Aerospace Portfolio $10,000 $13,436 $18,604 $19,269 $19,015 $19,146 $21,837 $22,173 $25,080 $31,348 $49,209 MSCI U.S. IMI Aerospace & Defense 25-50 Index $10,000 $14,011 $19,982 $21,305 $20,890 $21,198 $25,244 $26,138 $29,232 $37,089 $59,067 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Defense and Aerospace Portfolio</span> 10000 13436 18604 19269 19015 19146 21837 22173 25080 31348 49209 <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 14011 19982 21305 20890 21198 25244 26138 29232 37089 59067 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Defense and Aerospace Portfolio 56.98% 20.78% 17.27% MSCI U.S. IMI Aerospace & Defense 25-50 Index 59.26% 22.75% 19.44% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.5698 0.2078 0.1727 0.5926 0.2275 0.1944 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>4,108,709,758</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;">30</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>17,941,648</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;">18<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> 4108709758 30 17941648 0.18       TOP INDUSTRIES (% of Fund's net assets) Aerospace & Defense 98.4   Professional Services 0.9       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 94.0 United Kingdom 3.6 Canada 2.4 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.0                       United Kingdom - 3.6                       Canada - 2.4                                   0.984 0.009 0.993 0.007 0.940 0.036 0.024 TOP HOLDINGS(% of Fund's net assets)     GE Aerospace 22.6   RTX Corp 13.6   Boeing Co 11.1   Howmet Aerospace Inc 4.9   HEICO Corp Class A 4.2   General Dynamics Corp 4.1   Curtiss-Wright Corp 3.2   Rolls-Royce Holdings PLC 2.8   Woodward Inc 2.8   Carpenter Technology Corp 2.8     72.1   0.226 0.136 0.111 0.049 0.042 0.041 0.032 0.028 0.028 0.028 2026-02-28 Consumer Staples Portfolio Consumer Staples Portfolio FDFAX This annual shareholder report contains information about Consumer Staples Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Consumer Staples Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 71 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Consumer Staples Portfolio $10,000 $11,224 $11,066 $11,063 $11,780 $13,705 $16,331 $16,133 $16,971 $18,167 $19,958 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $11,216 $11,174 $11,783 $12,631 $14,603 $17,505 $17,328 $18,882 $21,917 $24,356 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Consumer Staples Portfolio</span> 10000 11224 11066 11063 11780 13705 16331 16133 16971 18167 19958 <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 11216 11174 11783 12631 14603 17505 17328 18882 21917 24356 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Consumer Staples Portfolio 9.85% 7.81% 7.15% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 9.31% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0985 0.0781 0.0715 0.1113 0.1077 0.0931 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>61<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 61 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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, 2026. Initial investment of $10,000. Class Z $10,000 $10,079 $10,745 $12,517 $14,932 $14,769 $15,554 $16,666 $18,326 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 $20,906 S&P 500® Index $10,000 $9,609 $10,397 $13,650 $15,887 $14,665 $19,131 $22,652 $26,501   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 18326 <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 20906 <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 26501 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 9.96% 7.92% 8.51% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 10.46% S&P 500® Index 16.99% 14.19% 14.05% 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. 0.0996 0.0792 0.0851 0.1113 0.1077 0.1046 0.1699 0.1419 0.1405 2018-10-02 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>128<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 128 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class M $9,650 $10,771 $10,561 $10,499 $11,116 $12,861 $15,241 $14,975 $15,668 $16,680 $18,224 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $11,216 $11,174 $11,783 $12,631 $14,603 $17,505 $17,328 $18,882 $21,917 $24,356 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class M</span> 9650 10771 10561 10499 11116 12861 15241 14975 15668 16680 18224 <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 11216 11174 11783 12631 14603 17505 17328 18882 21917 24356 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class M (incl. 3.50% sales charge)   5.43% 6.46% 6.19% Class M (without 3.50% sales charge) 9.26% 7.22% 6.56% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 9.31% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0543 0.0646 0.0619 0.0926 0.0722 0.0656 0.1113 0.1077 0.0931 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 74 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class I $10,000 $11,222 $11,063 $11,058 $11,774 $13,696 $16,319 $16,120 $16,957 $18,145 $19,927 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $11,216 $11,174 $11,783 $12,631 $14,603 $17,505 $17,328 $18,882 $21,917 $24,356 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class I</span> 10000 11222 11063 11058 11774 13696 16319 16120 16957 18145 19927 <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 11216 11174 11783 12631 14603 17505 17328 18882 21917 24356 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class I 9.82% 7.79% 7.14% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 9.31% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0982 0.0779 0.0714 0.1113 0.1077 0.0931 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>180<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 180 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Class C $10,000 $11,107 $10,840 $10,725 $11,303 $13,014 $15,347 $15,005 $15,623 $16,675 $18,264 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $11,216 $11,174 $11,783 $12,631 $14,603 $17,505 $17,328 $18,882 $21,917 $24,356 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class C</span> 10000 11107 10840 10725 11303 13014 15347 15005 15623 16675 18264 <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 11216 11174 11783 12631 14603 17505 17328 18882 21917 24356 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class C  (incl. contingent deferred sales charge) 7.71% 6.69% 6.21% Class C 8.71% 6.69% 6.21% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 9.31% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0771 0.0669 0.0621 0.0871 0.0669 0.0621 0.1113 0.1077 0.0931 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>102<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 102 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 overweight in distillers &amp; vintners. Stock selection in soft drinks &amp; non-alcoholic beverages also hampered the fund's result. Also detracting from our result was an underweight in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energizer Holdings (-26%). The company was among our largest holdings. The second-largest relative detractor was an overweight in Keurig Dr Pepper (-7%). The company was among our largest holdings. Another notable relative detractor was an underweight in Walmart (+31%). The company 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 contributor to performance versus the sector index was security selection in personal care products. An overweight in soft drinks &amp; non-alcoholic beverages also boosted relative performance. Also lifting the fund's relative result was stock selection in tobacco.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Bunge Global (+67%). The stock was among our biggest holdings this period. The second-largest relative contributor was an overweight in Estee Lauder (+54%). This period we decreased our investment in Estee Lauder. An underweight in Costco Wholesale (-3%) also contributed. This period we increased our stake in Costco Wholesale. The company 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 increased exposure to the tobacco and food retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000 and the current sales charge was paid. Class A $9,425 $10,547 $10,370 $10,337 $10,975 $12,731 $15,128 $14,903 $15,633 $16,686 $18,276 MSCI U.S. IMI Consumer Staples 25-50 Index $10,000 $11,216 $11,174 $11,783 $12,631 $14,603 $17,505 $17,328 $18,882 $21,917 $24,356 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Class A</span> 9425 10547 10370 10337 10975 12731 15128 14903 15633 16686 18276 <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 11216 11174 11783 12631 14603 17505 17328 18882 21917 24356 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Class A (incl. 5.75% sales charge)   3.23% 6.23% 6.22% Class A (without 5.75% sales charge) 9.53% 7.50% 6.85% MSCI U.S. IMI Consumer Staples 25-50 Index 11.13% 10.77% 9.31% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0323 0.0623 0.0622 0.0953 0.0750 0.0685 0.1113 0.1077 0.0931 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>1,186,874,554</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;">47</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>7,689,080</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;">52<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> 1186874554 47 7689080 0.52       TOP INDUSTRIES (% of Fund's net assets) Beverages 31.0   Consumer Staples Distribution & Retail 28.2   Household Products 15.5   Food Products 11.3   Personal Care Products 7.1   Tobacco 6.1   Broadline Retail 0.7   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 94.7 United Kingdom 5.3 Italy 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 94.7                       United Kingdom - 5.3                       Italy - 0.0                                    0.310 0.282 0.155 0.113 0.071 0.061 0.007 0.000 0.999 0.001 0.947 0.053 0.000 TOP HOLDINGS(% of Fund's net assets)     Coca-Cola Co/The 14.7   Procter & Gamble Co/The 11.4   Costco Wholesale Corp 8.8   Walmart Inc 7.5   Keurig Dr Pepper Inc 7.5   Kenvue Inc 4.8   Mondelez International Inc 4.5   Target Corp 3.5   Energizer Holdings Inc 2.9   British American Tobacco PLC ADR 2.7     68.3   0.147 0.114 0.088 0.075 0.075 0.048 0.045 0.035 0.029 0.027 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Consumer Discretionary Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 72 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Consumer Discretionary Portfolio $10,000 $11,529 $14,156 $14,837 $15,622 $23,583 $24,027 $19,973 $26,682 $29,983 $33,125 MSCI U.S. IMI Consumer Discretionary 25-50 Index $10,000 $11,851 $14,387 $15,300 $16,304 $26,742 $28,177 $23,740 $30,654 $35,048 $37,911 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Consumer Discretionary Portfolio</span> 10000 11529 14156 14837 15622 23583 24027 19973 26682 29983 33125 <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 11851 14387 15300 16304 26742 28177 23740 30654 35048 37911 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Consumer Discretionary Portfolio 10.48% 7.03% 12.72% MSCI U.S. IMI Consumer Discretionary 25-50 Index 8.17% 7.23% 14.26% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1048 0.0703 0.1272 0.0817 0.0723 0.1426 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>960,166,712</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;">59</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>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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, 2025. 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, 2026 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> 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Construction and Housing Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 74 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Construction &amp; Housing 25/50 Index for the fiscal year, especially an underweight in construction &amp; engineering. An overweight in single-family residential also hampered the fund's result. Also hurting our result was stock selection in construction materials.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Floor &amp; Decor Holdings (-28%). The second-largest relative detractor was an overweight in WillScot Holdings (-34%). Another notable relative detractor was an overweight in Invitation Homes (-20%). The stock 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 security selection in building products. Stock picks and an underweight in multi-family residential also boosted relative performance. Also contributing to our result was security selection 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 an underweight in Home Depot (-2%). The stock was the fund's biggest holding. A second notable relative contributor was an overweight in Johnson Controls International (+71%). The company was among our biggest holdings. An overweight in Comfort Systems USA (+294%) also contributed. The company was one of the fund's 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 construction &amp; engineering industry and a lower allocation to multi-family residential.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Construction and Housing Portfolio $10,000 $12,023 $13,354 $13,893 $16,269 $23,052 $28,342 $28,143 $37,130 $39,532 $46,584 MSCI U.S. IMI Construction & Housing 25-50 Index $10,000 $12,313 $13,792 $14,357 $16,391 $21,611 $26,324 $25,708 $34,319 $36,869 $43,811 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Construction and Housing Portfolio</span> 10000 12023 13354 13893 16269 23052 28342 28143 37130 39532 46584 <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 12313 13792 14357 16391 21611 26324 25708 34319 36869 43811 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Construction and Housing Portfolio 17.84% 15.11% 16.63% MSCI U.S. IMI Construction & Housing 25-50 Index 18.83% 15.18% 15.92% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1784 0.1511 0.1663 0.1883 0.1518 0.1592 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>749,479,835</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>4,863,603</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> 749479835 54 4863603 0.16       TOP INDUSTRIES (% of Fund's net assets) Specialty Retail 32.3   Building Products 21.5   Construction & Engineering 14.7   Household Durables 11.2   Construction Materials 11.2   Residential REITs 8.2   Real Estate Management & Development 0.4   Chemicals 0.3   Trading Companies & Distributors 0.2       Common Stocks 100.0 Short-Term Investments and Net Other Assets (Liabilities) 0.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 100.0                      Short-Term Investments and Net Other Assets (Liabilities) - 0.0   United States 100.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 100.0                          0.323 0.215 0.147 0.112 0.112 0.082 0.004 0.003 0.002 1.000 0.000 1.000 TOP HOLDINGS(% of Fund's net assets)     Home Depot Inc/The 16.0   Lowe's Cos Inc 13.3   Johnson Controls International plc 6.6   Trane Technologies PLC 5.9   Quanta Services Inc 5.0   CRH PLC 4.5   Martin Marietta Materials Inc 4.2   Comfort Systems USA Inc 3.6   PulteGroup Inc 2.5   Invitation Homes Inc 2.5     64.1   0.160 0.133 0.066 0.059 0.050 0.045 0.042 0.036 0.025 0.025 2026-02-28 Communication Services Portfolio Communication Services Portfolio FBMPX This annual shareholder report contains information about Communication Services Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Communication Services Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 74 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Communication Services Portfolio $10,000 $12,685 $13,213 $14,285 $16,031 $24,253 $23,092 $18,391 $27,978 $35,611 $45,975 MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index $10,000 $12,599 $12,435 $13,477 $14,774 $21,483 $20,250 $15,469 $22,017 $27,873 $33,718 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Communication Services Portfolio</span> 10000 12685 13213 14285 16031 24253 23092 18391 27978 35611 45975 <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 12599 12435 13477 14774 21483 20250 15469 22017 27873 33718 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Communication Services Portfolio 29.10% 13.65% 16.48% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 12.92% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.2910 0.1365 0.1648 0.2097 0.0943 0.1292 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.57<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 0.0057 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 November 30, 2018 through February 28, 2026. Initial investment of $10,000. Class Z $10,000 $10,392 $11,679 $17,691 $16,868 $13,456 $20,501 $26,121 $33,746 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 $25,432 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907 $27,969   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 33746 <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 25432 <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 27969 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class Z 29.19% 13.79% 18.27% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 13.74% S&P 500® Index 16.99% 14.19% 15.24% 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. 0.2919 0.1379 0.1827 0.2097 0.0943 0.1374 0.1699 0.1419 0.1524 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>136<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.19<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> 136 0.0119 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 November 30, 2018 through February 28, 2026. 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 $31,029 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 $25,432 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907 $27,969   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 31029 <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 25432 <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 27969 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class M (incl. 3.50% sales charge)   23.90% 12.24% 16.90% Class M (without 3.50% sales charge) 28.39% 13.04% 17.48% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 13.74% S&P 500® Index 16.99% 14.19% 15.24% 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. 0.2390 0.1224 0.1690 0.2839 0.1304 0.1748 0.2097 0.0943 0.1374 0.1699 0.1419 0.1524 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 79 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 November 30, 2018 through February 28, 2026. Initial investment of $10,000. Class I $10,000 $10,391 $11,661 $17,644 $16,798 $13,384 $20,365 $25,909 $33,433 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 $25,432 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907 $27,969   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 33433 <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 25432 <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 27969 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class I 29.04% 13.64% 18.11% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 13.74% S&P 500® Index 16.99% 14.19% 15.24% 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. 0.2904 0.1364 0.1811 0.2097 0.0943 0.1374 0.1699 0.1419 0.1524 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>192<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.69<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> 192 0.0169 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 November 30, 2018 through February 28, 2026. Initial investment of $10,000. Class C $10,000 $10,363 $11,504 $17,229 $16,236 $12,803 $19,284 $24,291 $31,034 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 $25,432 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907 $27,969   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 31034 <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 25432 <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 27969 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class C  (incl. contingent deferred sales charge) 26.76% 12.49% 16.91% Class C 27.76% 12.49% 16.91% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 13.74% S&P 500® Index 16.99% 14.19% 15.24% 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. 0.2676 0.1249 0.1691 0.2776 0.1249 0.1691 0.2097 0.0943 0.1374 0.1699 0.1419 0.1524 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>107<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.94<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> 107 0.0094 <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Communication Services 25/50 (Media Linked) Index for the fiscal year, led by semiconductors. An underweight in integrated telecommunication services also boosted relative performance. Also bolstering our relative result were picks in technology hardware, storage &amp; peripherals.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 SK Hynix gained roughly 190% and was the top individual relative contributor. This was a stake we established this period. The second-largest relative contributor was our non-index stake in Samsung Electronics (+148%). This was a stake we established this period. The stock was one of our largest holdings at period end. An underweight in Trade Desk (-66%) also contributed. 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 detractor from performance versus the sector index was an underweight in movies &amp; entertainment. Also hurting our result was stock selection in interactive home entertainment and in broadline 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 biggest individual relative detractor was our non-index stake in Amazon.com (+0%). The stock was among the fund's largest holdings. A second notable relative detractor was our non-index stake in Apple (-7%). The fund did not own Apple at period end. An underweight in Electronic Arts (+56%) also detracted. Electronic Arts 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 semiconductors and cable &amp; satellite 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 November 30, 2018 through February 28, 2026. 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 $30,861 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 $25,432 S&P 500® Index $10,000 $10,142 $10,972 $14,406 $16,767 $15,477 $20,190 $23,907 $27,969   2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 30861 <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 25432 <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 27969 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year Life of Fund A Class A (incl. 5.75% sales charge)   21.32% 11.99% 16.82% Class A (without 5.75% sales charge) 28.72% 13.32% 17.77% MSCI U.S. IMI Communication Services 25-50 (Media Linked) Index 20.97% 9.43% 13.74% S&P 500® Index 16.99% 14.19% 15.24% 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. 0.2132 0.1199 0.1682 0.2872 0.1332 0.1777 0.2097 0.0943 0.1374 0.1699 0.1419 0.1524 2018-11-30 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">institutional.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>2,720,115,661</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;">44</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>14,051,423</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;">147<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> 2720115661 44 14051423 1.47       TOP INDUSTRIES (% of Fund's net assets) Interactive Media & Services 50.0   Diversified Telecommunication Services 12.5   Entertainment 11.6   Media 8.7   Semiconductors & Semiconductor Equipment 5.6   Technology Hardware, Storage & Peripherals 5.1   Broadline Retail 3.3   Specialty Retail 0.7   Electronic Equipment, Instruments & Components 0.5   Others 1.0       Common Stocks 98.5 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 93.3 Korea (South) 3.0 Taiwan 2.7 Japan 0.7 Canada 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 93.3                       Korea (South) - 3.0                        Taiwan - 2.7                               Japan - 0.7                                Canada - 0.3                                   0.500 0.125 0.116 0.087 0.056 0.051 0.033 0.007 0.005 0.010 0.985 0.005 0.010 0.933 0.030 0.027 0.007 0.003 TOP HOLDINGS(% of Fund's net assets)     Meta Platforms Inc Class A 24.9   Alphabet Inc Class A 24.9   Verizon Communications Inc 4.9   AT&T Inc 4.9   EchoStar Corp Class A 4.9   Amazon.com Inc 3.3   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.7   Take-Two Interactive Software Inc 2.5   ROBLOX Corp Class A 2.4   AST SpaceMobile Inc Class A 2.2     77.6   0.249 0.249 0.049 0.049 0.049 0.033 0.027 0.025 0.024 0.022 2026-02-28 Chemicals Portfolio Chemicals Portfolio FSCHX This annual shareholder report contains information about Chemicals Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Chemicals Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 70 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Chemicals 25/50 Index for the fiscal year, led by commodity chemicals. An underweight in fertilizers &amp; agricultural chemicals also hampered the fund's result. Also hurting our result was stock selection 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 largest individual relative detractor was an underweight in Albemarle (+137%). The stock was not held at period end. A second notable relative detractor was an overweight in Orion (-59%). This period we decreased our investment in Orion. Another notable relative detractor was our stake in Mosaic (-21%). This was a stake 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>In contrast, the primary contributor to performance versus the industry index was security selection in fertilizers &amp; agricultural 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 top individual relative contributor was an overweight in Element Solutions (+34%). The stock was one of our biggest holdings. A second notable relative contributor was an underweight in Dow (-14%). This was an investment we established this period. Another notable relative contributor was an overweight in Solstice Advanced Materials (+73%). This was an investment 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 fertilizers &amp; agricultural chemicals industry and 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Chemicals Portfolio $10,000 $13,802 $16,053 $14,271 $11,755 $16,651 $19,464 $19,677 $20,810 $20,347 $21,550 MSCI U.S. IMI Chemicals 25-50 Index $10,000 $13,340 $15,435 $14,767 $13,609 $19,255 $21,408 $22,322 $23,941 $23,918 $26,299 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Chemicals Portfolio</span> 10000 13802 16053 14271 11755 16651 19464 19677 20810 20347 21550 <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 13340 15435 14767 13609 19255 21408 22322 23941 23918 26299 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Chemicals Portfolio 5.91% 5.29% 7.98% MSCI U.S. IMI Chemicals 25-50 Index 9.96% 6.43% 10.15% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.0591 0.0529 0.0798 0.0996 0.0643 0.1015 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>464,222,612</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;">30</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>2,856,722</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;">46<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> 464222612 30 2856722 0.46       TOP INDUSTRIES (% of Fund's net assets) Chemicals 98.7       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 99.9 Germany 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.9                       Germany - 0.1                                  0.987 0.987 0.013 0.999 0.001 TOP HOLDINGS(% of Fund's net assets)     Linde PLC 24.8   Sherwin-Williams Co/The 17.1   Element Solutions Inc 6.7   Corteva Inc 4.9   Ecolab Inc 4.8   PPG Industries Inc 4.5   Air Products and Chemicals Inc 4.0   Scotts Miracle-Gro Co/The 3.3   Ingevity Corp 3.2   International Flavors & Fragrances Inc 3.0     76.3   0.248 0.171 0.067 0.049 0.048 0.045 0.040 0.033 0.032 0.030 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Brokerage and Investment Management Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 63 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Capital Markets 5% Capped Linked Index for the fiscal year, especially within asset management &amp; custody banks. Security selection in diversified financial services also hampered the fund's result. Also hurting our result were stock picking and an underweight in investment banking &amp; brokerage.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Blue Owl Capital (-48%). The company was one of our biggest holdings. A non-index stake in Apollo Global Management returned approximately -29% and was the second-largest relative detractor. The stock was among our largest holdings. Not owning Goldman Sachs, an index component that gained about 40%, 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 selection in the financial exchanges &amp; data group. An underweight in asset management &amp; custody banks 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>Not owning FactSet Research Systems, an index component that returned roughly -52%, was the top individual relative contributor. Not owning Morningstar, an index component that returned -41%, was the second-largest relative contributor. Another notable relative contributor was an overweight in Interactive Brokers (+40%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 29, 2016 through February 28, 2026. Initial investment of $10,000. Brokerage and Investment Management Portfolio $10,000 $13,176 $16,801 $15,450 $16,885 $23,586 $28,704 $27,850 $34,798 $45,364 $41,114 MSCI U.S. IMI Capital Markets 5% Capped Linked Index $10,000 $13,822 $17,732 $16,406 $17,634 $24,735 $29,979 $28,682 $34,986 $46,760 $49,274 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Brokerage and Investment Management Portfolio</span> 10000 13176 16801 15450 16885 23586 28704 27850 34798 45364 41114 <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 13822 17732 16406 17634 24735 29979 28682 34986 46760 49274 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Brokerage and Investment Management Portfolio -9.37% 11.76% 15.19% MSCI U.S. IMI Capital Markets 5% Capped Linked Index 5.38% 14.78% 17.29% S&P 500® Index 16.99% 14.19% 15.50%     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. -0.0937 0.1176 0.1519 0.0538 0.1478 0.1729 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>988,541,065</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>8,400,231</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;">10<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> 988541065 42 8400231 0.10       TOP INDUSTRIES (% of Fund's net assets) Capital Markets 93.9   Financial Services 5.7       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 97.1 Canada 1.1 United Kingdom 1.0 Grand Cayman (UK Overseas Ter) 0.6 Luxembourg 0.1 Sweden 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.1                       Canada - 1.1                               United Kingdom - 1.0                       Grand Cayman (UK Overseas Ter) - 0.6       Luxembourg - 0.1                           Sweden - 0.1                                   0.939 0.057 0.996 0.004 0.971 0.011 0.010 0.006 0.001 0.001 TOP HOLDINGS(% of Fund's net assets)     Moody's Corp 8.1   Charles Schwab Corp/The 8.0   Intercontinental Exchange Inc 5.9   Apollo Global Management Inc 5.7   KKR & Co Inc Class A 5.1   Blue Owl Capital Inc Class A 4.5   S&P Global Inc 4.3   Ares Management Corp Class A 4.1   Ameriprise Financial Inc 3.9   Blackstone Inc 3.7     53.3   0.081 0.080 0.059 0.057 0.051 0.045 0.043 0.041 0.039 0.037 2026-02-28 Biotechnology Portfolio Biotechnology Portfolio FBIOX This annual shareholder report contains information about Biotechnology Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Biotechnology Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 74 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Biotechnology 25/50 Index for the fiscal year, especially within biotechnology. Stock picks in pharmaceuticals and health care 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 fund's non-index stake in Abivax gained 1442% and was the top individual relative contributor. This was an investment we established this period. The second-largest relative contributor was an overweight in Krystal Biotech (+54%). The company was one of the fund's biggest holdings. Another notable relative contributor was an underweight in AbbVie (+15%). The stock was the fund's top 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 industry index was stock picking in health care technology. Stock selection in life sciences tools &amp; services 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 largest individual relative detractor was a stake in Zealand Pharma (-37%). The second-largest relative detractor was Candel Therapeutics (-42%). Another notable relative detractor was a position in Corcept Therapeutics (-37%). All of these detractors were non-index 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>Notable changes in positioning include increased exposure to pharmaceuticals.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Biotechnology Portfolio $10,000 $12,967 $15,177 $15,108 $16,402 $24,169 $17,041 $17,235 $21,198 $21,564 $29,430 MSCI U.S. IMI Biotechnology 25-50 Index $10,000 $12,255 $14,865 $14,304 $15,008 $19,803 $18,269 $20,200 $23,236 $24,831 $32,757 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Biotechnology Portfolio</span> 10000 12967 15177 15108 16402 24169 17041 17235 21198 21564 29430 <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 12255 14865 14304 15008 19803 18269 20200 23236 24831 32757 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Biotechnology Portfolio 36.48% 4.02% 11.40% MSCI U.S. IMI Biotechnology 25-50 Index 31.92% 10.59% 12.60% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.3648 0.0402 0.1140 0.3192 0.1059 0.1260 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>5,350,031,210</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;">192</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>27,217,667</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> 5350031210 192 27217667 0.45       TOP INDUSTRIES (% of Fund's net assets) Biotechnology 90.1   Pharmaceuticals 9.6   Life Sciences Tools & Services 0.2   Health Care Providers & Services 0.0   Health Care Technology 0.0   Health Care Equipment & Supplies 0.0   Consumer Staples Distribution & Retail 0.0       Common Stocks 99.4 Preferred Stocks 0.5 Short-Term Investments and Net Other Assets (Liabilities) 0.1 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.4                       Preferred Stocks - 0.5                     Short-Term Investments and Net Other Assets (Liabilities) - 0.1   United States 88.8 Denmark 3.5 Netherlands 2.8 Belgium 2.2 Switzerland 0.9 France 0.8 Canada 0.3 United Kingdom 0.3 Germany 0.2 Others 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 88.8                       Denmark - 3.5                              Netherlands - 2.8                          Belgium - 2.2                              Switzerland - 0.9                          France - 0.8                               Canada - 0.3                               United Kingdom - 0.3                       Germany - 0.2                              Others - 0.2                                   0.901 0.096 0.002 0.000 0.000 0.000 0.000 0.994 0.005 0.001 0.888 0.035 0.028 0.022 0.009 0.008 0.003 0.003 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     AbbVie Inc 13.3   Krystal Biotech Inc 9.4   Gilead Sciences Inc 8.9   Amgen Inc 8.4   Alnylam Pharmaceuticals Inc 3.2   Praxis Precision Medicines Inc 2.6   Ascendis Pharma A/S ADR 2.4   Insmed Inc 2.3   UCB SA 2.2   Argenx SE ADR 2.1     54.8   0.133 0.094 0.089 0.084 0.032 0.026 0.024 0.023 0.022 0.021 2026-02-28 Banking Portfolio Banking Portfolio FSRBX This annual shareholder report contains information about Banking Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Banking Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 within regional banks. Security selection in asset management &amp; custody banks 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 top individual relative contributor was an overweight in Popular (+39%). This period we decreased our investment in Popular. The stock was one of our biggest holdings this period. The second-largest relative contributor was an overweight in Citigroup (+42%). The stock was one of the fund's largest holdings. Not owning Commerce Bancshares, an index component that returned -16%, 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>The biggest individual relative detractor was an overweight in Banner (-12%). The second-largest relative detractor was an overweight in Old National Bancorp (+0.1%). The company was among our biggest holdings. Not owning Comerica, an index component that gained 44%, was another notable relative detractor.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Banking Portfolio $10,000 $15,616 $17,538 $16,386 $15,395 $19,382 $23,911 $21,217 $21,296 $29,072 $33,331 MSCI US IMI Banks 5% Capped Linked Index $10,000 $15,923 $17,531 $16,749 $15,154 $19,611 $23,264 $20,387 $19,125 $25,604 $28,778 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Banking Portfolio</span> 10000 15616 17538 16386 15395 19382 23911 21217 21296 29072 33331 <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 15923 17531 16749 15154 19611 23264 20387 19125 25604 28778 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Banking Portfolio 14.65% 11.45% 12.79% MSCI US IMI Banks 5% Capped Linked Index 12.40% 7.97% 11.15% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1465 0.1145 0.1279 0.1240 0.0797 0.1115 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>453,095,800</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>2,911,784</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;">25<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> 453095800 39 2911784 0.25       TOP INDUSTRIES (% of Fund's net assets) Banks 98.4   Capital Markets 1.3   Financial Services 0.0       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 97.2 Puerto Rico 2.8 Cyprus 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.2                       Puerto Rico - 2.8                          Cyprus - 0.0                                   0.984 0.013 0.000 0.997 0.003 0.972 0.028 0.000 TOP HOLDINGS(% of Fund's net assets)     Wells Fargo & Co 8.0   Bank of America Corp 7.4   Truist Financial Corp 5.7   Citigroup Inc 5.5   US Bancorp 5.3   M&T Bank Corp 4.9   Huntington Bancshares Inc/OH 3.9   Old National Bancorp/IN 3.9   BOK Financial Corp 3.6   UMB Financial Corp 3.4     51.6   0.080 0.074 0.057 0.055 0.053 0.049 0.039 0.039 0.036 0.034 2026-02-28 Automotive Portfolio Automotive Portfolio FSAVX This annual shareholder report contains information about Automotive Portfolio for the period March 1, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Automotive Portfolio</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>85<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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> 85 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 FactSet Automotive Linked Index for the fiscal year, especially within automotive parts &amp; equipment. Picks in automobile manufacturers and diversified support services 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 an overweight in Dana (+144%). This period we increased our stake in the company, one of the fund's largest holdings at period end. A second notable relative contributor was an overweight in General Motors (+63%), also among the fund's biggest holdings at period end. An overweight in Dauch (+48%) also helped. This was an investment 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>In contrast, the primary detractor from performance versus the industry index was an overweight in diversified support services. Also hurting our result was stock picking in automotive retail and electronic manufacturing 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 Magna International (+80%). The stock was not held at period end. The second-largest relative detractor was an underweight in Rivian Automotive (+29%). An underweight in AutoZone (+8%), one of the fund's biggest holdings, 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>Notable changes in positioning include decreased exposure to the diversified support services and automotive retail 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Automotive Portfolio $10,000 $11,680 $13,909 $13,261 $14,473 $25,791 $27,649 $22,971 $28,259 $28,395 $33,318 FactSet Automotive Linked Index $10,000 $12,475 $14,198 $13,364 $14,172 $25,130 $27,380 $23,117 $27,407 $27,571 $30,813 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Automotive Portfolio</span> 10000 11680 13909 13261 14473 25791 27649 22971 28259 28395 33318 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">FactSet Automotive Linked Index</span> 10000 12475 14198 13364 14172 25130 27380 23117 27407 27571 30813 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Automotive Portfolio 17.34% 5.25% 12.79% FactSet Automotive Linked Index 11.76% 4.16% 11.91% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.1734 0.0525 0.1279 0.1176 0.0416 0.1191 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>65,797,431</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;">37</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>457,628</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;">112<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> 65797431 37 457628 1.12       TOP INDUSTRIES (% of Fund's net assets) Automobiles 53.9   Specialty Retail 22.4   Automobile Components 11.4   Commercial Services & Supplies 4.4   Distributors 1.7   Ground Transportation 1.7   Trading Companies & Distributors 1.1   Electronic Equipment, Instruments & Components 1.0   Hotels, Restaurants & Leisure 0.6   Electrical Equipment 0.3       Common Stocks 98.5 Preferred Stocks 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.5 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.5                       Preferred Stocks - 0.0                     Short-Term Investments and Net Other Assets (Liabilities) - 1.5   United States 72.5 Japan 15.9 Italy 4.4 China 3.9 Switzerland 2.5 Canada 0.6 Israel 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 72.5                       Japan - 15.9                               Italy - 4.4                                China - 3.9                                Switzerland - 2.5                          Canada - 0.6                               Israel - 0.2                                   0.539 0.224 0.114 0.044 0.017 0.017 0.011 0.010 0.006 0.003 0.985 0.000 0.015 0.725 0.159 0.044 0.039 0.025 0.006 0.002 TOP HOLDINGS(% of Fund's net assets)     General Motors Co 12.8   Toyota Motor Corp ADR 12.5   O'Reilly Automotive Inc 11.9   Tesla Inc 9.2   Ford Motor Co 4.9   AutoZone Inc 4.9   Carvana Co Class A 4.9   Dana Inc 4.1   Ferrari NV 4.0   Honda Motor Co Ltd ADR 3.4     72.6   0.128 0.125 0.119 0.092 0.049 0.049 0.049 0.041 0.040 0.034 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Natural Resources Fund</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 88 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 North American Natural Resources Sector Index for the fiscal year, led by integrated oil &amp; gas. Picks in oil &amp; gas exploration &amp; production also boosted the fund's relative performance. Also bolstering our relative result was an underweight in 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>The fund's stake in Imperial Oil gained about 76% and was the top individual relative contributor. The stock was one of our biggest holdings. A position in First Quantum Minerals gained 148% and was the second-largest relative contributor. This period we decreased our position in First Quantum Minerals. The company was among our largest holdings this period. A stake in Athabasca Oil gained approximately 97% and notably helped. The company was among our largest holdings. All of these contributors were non-index 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 detractor from performance versus the industry index was an overweight in integrated oil &amp; gas. Picks and an underweight in gold also hampered the fund's result. Also hurting our result was an underweight in coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Newmont (+209%). This was a position we established this period. The stock was among the fund's largest holdings at period end. A second notable relative detractor was an underweight in Barrick Mining (+193%). This was a position we established this period. Another notable relative detractor was an underweight in Freeport-McMoRan (+87%). This was a stake 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 industry and a higher allocation to gold.</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 29, 2016 through February 28, 2026. Initial investment of $10,000. Fidelity® Natural Resources Fund $10,000 $13,454 $12,895 $12,113 $9,903 $11,364 $17,013 $20,378 $21,717 $22,609 $35,089 S&P® North American Natural Resources Sector Index $10,000 $13,204 $12,810 $12,517 $10,377 $11,943 $17,288 $19,049 $20,418 $22,879 $33,234 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Natural Resources Fund</span> 10000 13454 12895 12113 9903 11364 17013 20378 21717 22609 35089 <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 13204 12810 12517 10377 11943 17288 19049 20418 22879 33234 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Fidelity® Natural Resources Fund 55.20% 25.29% 13.37% S&P® North American Natural Resources Sector Index 45.26% 22.71% 12.76% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.5520 0.2529 0.1337 0.4526 0.2271 0.1276 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>990,115,948</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;">44</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>4,345,831</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;">81<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> 990115948 44 4345831 0.81       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 65.5   Metals & Mining 24.8   Energy Equipment & Services 4.1   Construction Materials 2.6   Containers & Packaging 2.1       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 61.5 Canada 31.7 Brazil 3.4 Zambia 1.4 United Kingdom 1.0 Portugal 0.8 Norway 0.2 Australia 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 61.5                       Canada - 31.7                              Brazil - 3.4                               Zambia - 1.4                               United Kingdom - 1.0                       Portugal - 0.8                             Norway - 0.2                               Australia - 0.0                                0.655 0.248 0.041 0.026 0.021 0.991 0.009 0.615 0.317 0.034 0.014 0.010 0.008 0.002 0.000 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 19.2   Imperial Oil Ltd 8.6   ConocoPhillips 7.7   Suncor Energy Inc (United States) 5.7   Shell PLC ADR 5.4   Chevron Corp 4.6   Agnico Eagle Mines Ltd/CA (United States) 4.1   Valero Energy Corp 3.7   Newmont Corp 3.5   Athabasca Oil Corp 3.4     65.9   0.192 0.086 0.077 0.057 0.054 0.046 0.041 0.037 0.035 0.034 2026-02-28 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, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Fidelity® Environment and Alternative Energy Fund</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; 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> 80 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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 FTSE EO &amp; Alternative Energy Index for the fiscal year, led by industrial machinery &amp; supplies &amp; components. Stock picking in coal &amp; consumable fuels and electronic components 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 Siemens Energy (+246%). The stock was among the fund's largest holdings at period end. A non-index stake in ATI gained roughly 181% and was the second-largest relative contributor. Another notable relative contributor was our non-index stake in Coherent (+244%). This period we decreased our investment in Coherent.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 an underweight in automobile manufacturers. An overweight in industrial gases also hampered the fund's result. Also detracting from our result was stock picking in oil &amp; gas equipment &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 largest individual relative detractor was our stake in GE Aerospace (+49%). The stock was not held at period end. The second-largest relative detractor was our stake in Linde (+11%). The company was among our biggest holdings. Our stake in Tesla (+41%) also detracted. The stock was the fund's largest 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 increased exposure to the industrial machinery &amp; supplies &amp; components and heavy electrical equipment 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 29, 2016 through February 28, 2026. Initial investment of $10,000. Fidelity® Environment and Alternative Energy Fund $10,000 $13,302 $15,660 $15,722 $15,352 $21,334 $23,686 $21,444 $26,646 $29,571 $39,462 FTSE® Environmental Opportunities & Alternative Energy Index $10,000 $12,706 $15,499 $16,109 $17,811 $27,954 $31,095 $29,868 $36,390 $42,926 $54,342 S&P 500® Index $10,000 $12,498 $14,635 $15,320 $16,575 $21,761 $25,327 $23,379 $30,499 $36,113 $42,249   2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026   <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 13302 15660 15722 15352 21334 23686 21444 26646 29571 39462 <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 12706 15499 16109 17811 27954 31095 29868 36390 42926 54342 <span style="font-family:'Fidelity Sans';font-size:9px;color:#000000;font-style:normal;font-weight:normal;">S&amp;P 500® Index</span> 10000 12498 14635 15320 16575 21761 25327 23379 30499 36113 42249 AVERAGE ANNUAL TOTAL RETURNS:   1 Year 5 Year 10 Year Fidelity® Environment and Alternative Energy Fund 33.45% 13.09% 14.71% FTSE® Environmental Opportunities & Alternative Energy Index 26.59% 14.22% 18.44% S&P 500® Index 16.99% 14.19% 15.50%     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. 0.3345 0.1309 0.1471 0.2659 0.1422 0.1844 0.1699 0.1419 0.1550 <span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Visit </span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:bold;">www.fidelity.com</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> for more recent performance information.</span> <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, 2026)</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>645,029,511</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;">69</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>3,743,185</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;">50<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> 645029511 69 3743185 0.50       TOP INDUSTRIES (% of Fund's net assets) Electrical Equipment 11.7   Machinery 10.1   Automobiles 8.7   Semiconductors & Semiconductor Equipment 8.0   Software 7.4   Communications Equipment 7.3   Building Products 5.1   Electric Utilities 4.6   Construction & Engineering 4.2   Others 31.5       Common Stocks 98.6 Preferred Stocks 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Preferred Stocks - 0.0                     Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 91.2 Netherlands 3.5 Germany 3.4 United Kingdom 1.3 Canada 0.6 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.2                       Netherlands - 3.5                          Germany - 3.4                              United Kingdom - 1.3                       Canada - 0.6                                   0.117 0.101 0.087 0.080 0.074 0.073 0.051 0.046 0.042 0.315 0.986 0.000 0.014 0.912 0.035 0.034 0.013 0.006 TOP HOLDINGS(% of Fund's net assets)     Tesla Inc 8.3   Microsoft Corp 7.0   Cisco Systems Inc 4.0   Prologis Inc 3.6   Linde PLC 3.6   NXP Semiconductors NV 3.5   Eaton Corp PLC 3.5   NextEra Energy Inc 3.5   Siemens Energy AG 3.4   Analog Devices Inc 3.4     43.8   0.083 0.070 0.040 0.036 0.036 0.035 0.035 0.035 0.034 0.034 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Fidelity Advisor® Utilities Fund Class A FFUAX This annual shareholder report contains information about Utilities Portfolio for the period October 9, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>37<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.92<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 37 0.0092 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>4,088,784,869</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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 October 9, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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 October 9, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Fidelity Advisor® Utilities Fund Class M FFUMX This annual shareholder report contains information about Utilities Portfolio for the period October 9, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>47<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.18<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 47 0.0118 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>4,088,784,869</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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 October 9, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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 October 9, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Fidelity Advisor® Utilities Fund Class C FFUCX This annual shareholder report contains information about Utilities Portfolio for the period October 9, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.68<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 68 0.0168 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>4,088,784,869</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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 October 9, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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 October 9, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Fidelity Advisor® Utilities Fund Class I FFUIX This annual shareholder report contains information about Utilities Portfolio for the period October 9, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>27<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 27 0.0067 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>4,088,784,869</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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 October 9, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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 October 9, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Utilities Portfolio Fidelity Advisor® Utilities Fund Class Z FFUZX This annual shareholder report contains information about Utilities Portfolio for the period October 9, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>22<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.55<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 22 0.0055 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Utilities 25/50 Index for the fiscal year, led by heavy electrical equipment. Stock selection in multi-utilities and coal &amp; consumable fuels 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 GE Vernova (+150%). A stake in Cameco gained roughly 136% and was a second notable relative contributor. This was a stake we established this period. Another notable relative contributor was our stake in Quanta Services (+71%). This was a stake we established this period. All these contributors were non-index 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 detractor from performance versus the sector index was stock picking in electric utilities. Stock picks and an overweight in independent power producers &amp; energy traders also hampered the fund's result. Also hurting our result were stock picks in environmental &amp; facilities 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 was the fund's positioning in NRG Energy (+19%). This period we increased our stake in NRG Energy to an overweight at period end. The company was among our largest holdings at period end. The second-largest relative detractor was an overweight in Constellation Energy (+30%). This period we increased our stake in Constellation Energy. The stock was one of the fund's largest holdings. Another notable relative detractor was an underweight in AES (+58%). This period we decreased our investment in AES.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 multi-utilities.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>4,088,784,869</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">34</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>16,858,023</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;">76<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> 4088784869 34 16858023 0.76       TOP INDUSTRIES (% of Fund's net assets) Electric Utilities 68.4   Multi-Utilities 16.1   Independent Power and Renewable Electricity Producers 7.0   Electrical Equipment 3.0   Construction & Engineering 1.8   Media 1.0   Gas Utilities 0.8   Machinery 0.4   Oil, Gas & Consumable Fuels 0.1       Common Stocks 98.6 Short-Term Investments and Net Other Assets (Liabilities) 1.4 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.6                       Short-Term Investments and Net Other Assets (Liabilities) - 1.4   United States 99.2 Germany 0.7 Canada 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 99.2                       Germany - 0.7                              Canada - 0.1                                   0.684 0.161 0.070 0.030 0.018 0.010 0.008 0.004 0.001 0.986 0.014 0.992 0.007 0.001 TOP HOLDINGS(% of Fund's net assets)     NextEra Energy Inc 13.6   Constellation Energy Corp 8.3   NRG Energy Inc 7.3   Duke Energy Corp 6.6   Sempra 5.9   Vistra Corp 5.5   Entergy Corp 4.9   Exelon Corp 4.7   Xcel Energy Inc 4.5   American Electric Power Co Inc 3.8     65.1   0.136 0.083 0.073 0.066 0.059 0.055 0.049 0.047 0.045 0.038 <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 October 9, 2025. 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, 2026 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;">Fidelity Advisor® Utilities Fund merged into Utilities Portfolio on October 17, 2025.</span></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 October 9, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Fidelity Advisor® Technology Fund Class A FFONX This annual shareholder report contains information about Technology Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>28<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.89<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 28 0.0089 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>27,313,203,802</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">124</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Fidelity Advisor® Technology Fund Class M FFOJX This annual shareholder report contains information about Technology Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>35<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.14<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 35 0.0114 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>27,313,203,802</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">124</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Fidelity Advisor® Technology Fund Class C FFOQX This annual shareholder report contains information about Technology Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>51<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.63<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 51 0.0163 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>27,313,203,802</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">124</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Fidelity Advisor® Technology Fund Class I FFOMX This annual shareholder report contains information about Technology Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>20<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 20 0.0064 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>27,313,203,802</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">124</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Technology Portfolio Fidelity Advisor® Technology Fund Class Z FFOTX This annual shareholder report contains information about Technology Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>16<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.53<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 16 0.0053 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 MSCI US IMI Information Technology 25/50 Index for the fiscal year. However, security selection in technology hardware, storage &amp; peripherals stood out for its contribution. A large overweight in semiconductors also boosted relative performance. Also contributing to our result were stock picks and an underweight in 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>The top individual relative contributor was an overweight in Western Digital (+470%). The company was among our biggest holdings at period end. A second notable relative contributor was an overweight in Micron Technology (+340%). The company was one of the fund's biggest holdings. Another notable relative contributor was an overweight in Sandisk (+1259%). This period we decreased our investment in Sandisk.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 stock selection in semiconductors. An underweight in semiconductor materials &amp; equipment also hampered the fund's result. Also hurting our result were picks in communications 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 underweight in Broadcom (+62%). This security was not held at period end. A second notable relative detractor was an overweight in HubSpot (-63%). This period we increased our investment in HubSpot. An overweight in Marvell Technology (-10%) also detracted. The company 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 decreased exposure to the systems software industry and a higher allocation to semiconductors.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>27,313,203,802</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">124</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>122,307,365</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;">52<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> 27313203802 124 122307365 0.52       TOP INDUSTRIES (% of Fund's net assets) Semiconductors & Semiconductor Equipment 49.5   Technology Hardware, Storage & Peripherals 16.9   Software 16.5   IT Services 6.5   Communications Equipment 4.0   Electronic Equipment, Instruments & Components 1.5   Broadline Retail 1.5   Entertainment 1.1   Ground Transportation 0.7   Others 0.8       Common Stocks 95.7 Preferred Stocks 3.3 Bonds 0.0 Preferred Securities 0.0 Short-Term Investments and Net Other Assets (Liabilities) 1.0 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 95.7                       Preferred Stocks - 3.3                     Bonds - 0.0                                Preferred Securities - 0.0                 Short-Term Investments and Net Other Assets (Liabilities) - 1.0   United States 90.2 Netherlands 6.7 Canada 1.8 Taiwan 0.9 United Kingdom 0.2 China 0.1 India 0.1 Estonia 0.0 Israel 0.0 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 90.2                       Netherlands - 6.7                          Canada - 1.8                               Taiwan - 0.9                               United Kingdom - 0.2                       China - 0.1                                India - 0.1                                Estonia - 0.0                              Israel - 0.0                                   0.495 0.169 0.165 0.065 0.040 0.015 0.015 0.011 0.007 0.008 0.957 0.033 0.000 0.000 0.010 0.902 0.067 0.018 0.009 0.002 0.001 0.001 0.000 0.000 TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 24.6   Apple Inc 12.7   Microsoft Corp 6.7   NXP Semiconductors NV 5.2   Marvell Technology Inc 4.7   ON Semiconductor Corp 4.5   Micron Technology Inc 4.2   Cisco Systems Inc 3.9   Western Digital Corp 2.9   GlobalFoundries Inc 2.7     72.1   0.246 0.127 0.067 0.052 0.047 0.045 0.042 0.039 0.029 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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Technology Fund merged into Technology Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective July 22, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Fidelity Advisor® Consumer Discretionary Fund Class A FFNRX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>30<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 30 0.0096 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>960,166,712</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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 November 6, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Fidelity Advisor® Consumer Discretionary Fund Class M FFNNX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>38<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 38 0.0122 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>960,166,712</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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 November 6, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Fidelity Advisor® Consumer Discretionary Fund Class C FFNSX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>54<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 54 0.0171 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>960,166,712</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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 November 6, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Fidelity Advisor® Consumer Discretionary Fund Class I FFNQX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>22<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.70<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 22 0.0070 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>960,166,712</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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 November 6, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Consumer Discretionary Portfolio Fidelity Advisor® Consumer Discretionary Fund Class Z FFNUX This annual shareholder report contains information about Consumer Discretionary Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>18<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 18 0.0058 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Consumer Discretionary 25/50 Index for the fiscal year, led by apparel, accessories &amp; luxury goods. Security selection and overweights in home furnishings and apparel retail 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 non-index stake in Aritzia (+92%). A second notable relative contributor was an overweight in Somnigroup International (+40%). The stock was one of the fund's largest holdings. Another notable relative contributor was an overweight in Tapestry (+84%).</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 underweight in automobile manufacturers. Also hurting our result was stock picking in automotive retail and broadline 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 Floor &amp; Decor Holdings (-28%). This period we increased our investment in Floor &amp; Decor Holdings. The second-largest relative detractor was an underweight in Tesla (+37%). The company was one of the fund's largest holdings. An overweight in Domino's Pizza (-17%) also 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>Notable changes in positioning include increased exposure to the apparel retail and automobile manufacturers industries.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>960,166,712</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">59</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>4,255,887</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;">21<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> 960166712 59 4255887 0.21       TOP INDUSTRIES (% of Fund's net assets) Broadline Retail 26.1   Specialty Retail 24.7   Automobiles 17.1   Hotels, Restaurants & Leisure 16.8   Household Durables 5.9   Textiles, Apparel & Luxury Goods 4.9   Automobile Components 2.0   Consumer Staples Distribution & Retail 1.5   Construction Materials 0.8       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 96.7 Canada 2.0 Brazil 0.9 France 0.2 Switzerland 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 96.7                       Canada - 2.0                               Brazil - 0.9                               France - 0.2                               Switzerland - 0.2                              0.261 0.247 0.171 0.168 0.059 0.049 0.020 0.015 0.008 0.998 0.002 0.967 0.020 0.009 0.002 0.002 TOP HOLDINGS(% of Fund's net assets)     Amazon.com Inc 24.2   Tesla Inc 15.4   Home Depot Inc/The 4.6   Lowe's Cos Inc 4.4   McDonald's Corp 3.3   TJX Cos Inc/The 3.3   Hilton Worldwide Holdings Inc 2.8   Somnigroup International Inc 2.5   Ross Stores Inc 2.1   Dick's Sporting Goods Inc 1.9     64.5   0.242 0.154 0.046 0.044 0.033 0.033 0.028 0.025 0.021 0.019 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor® Consumer Discretionary Fund merged into Consumer Discretionary Portfolio on November 14, 2025.</span></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 November 6, 2025. 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, 2026 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> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Fidelity Advisor® Energy Fund Class A FFOBX This annual shareholder report contains information about Energy Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class A</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>33<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.92<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 33 0.0092 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>3,522,950,308</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Fidelity Advisor® Energy Fund Class M FFNVX This annual shareholder report contains information about Energy Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class M</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>42<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.17<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 42 0.0117 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>3,522,950,308</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Fidelity Advisor® Energy Fund Class C FFOEX This annual shareholder report contains information about Energy Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class C</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </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:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">1.67<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 60 0.0167 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>3,522,950,308</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Fidelity Advisor® Energy Fund Class I FFNWX This annual shareholder report contains information about Energy Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class I</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>24<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; 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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 24 0.0067 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>3,522,950,308</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div> 2026-02-28 This report describes changes to the Fund that occurred during the reporting period. Energy Portfolio Fidelity Advisor® Energy Fund Class Z FFOHX This annual shareholder report contains information about Energy Portfolio for the period November 6, 2025 to February 28, 2026. 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:51%; 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:21%; 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:27%; 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 $10,000 investment </span></div> </td> <td style="width:1%; " valign="top"><span style="line-height:12px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:51%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="top"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Class Z</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span></div> </td> <td style="width:21%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$ </span>20<span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> </span></div> </td> <td style="width:27%; border-bottom:1px solid #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:center;text-align-last:auto;">0.55<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;"><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">A</span><span style="font-family:'Fidelity Sans Cd';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Expenses for the full reporting period would be higher.</span></div> <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;"></div> 20 0.0055 Expenses for the full reporting period would be higher. <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. stocks achieved a strong gain for the 12 months ending February 28, 2026, reflecting a historically fast rebound that began in early April, bolstered by strong corporate fundamentals, a resilient economy and, beginning in September, the Federal Reserve's first interest-rate reductions since December 2024.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy 25/50 Index for the fiscal year, led by oil &amp; gas equipment &amp; services. Security selection in integrated oil &amp; gas also boosted the fund's relative performance. Also bolstering our relative result were picks and an underweight in oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 National Energy Services Reunited (+206%). The stock was among our biggest holdings at period end. The second-largest relative contributor was an overweight in TechnipFMC (+125%). The company was among the fund's largest holdings at period end. Another notable relative contributor was our non-index stake in Cenovus Energy (+66%). The company 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 sector index was security selection in oil &amp; gas storage &amp; transportation. Also hurting our result were underweights in oil &amp; gas drilling and coal &amp; consumable fuels.</span></div> <div style="text-align:left;text-align-last:auto;text-indent:-24px;margin-bottom:2px;margin-left:24px;margin-top:5px;margin-right: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 Energy Transfer (+5%). The stock was one of our largest holdings. A second notable relative detractor was an overweight in Cheniere Energy (+4%). The stock was among the fund's largest holdings. Another notable relative detractor was an underweight in Williams (+33%). This was a stake 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 oil &amp; gas equipment &amp; services industry and a lower allocation to oil &amp; gas exploration &amp; production.</span></div> <div style="text-align:left;text-align-last:auto;"></div> <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, 2026)</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;">$</span>3,522,950,308</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Number of Holdings</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;">35</div> <div style="text-align:right;text-align-last:auto;"></div> </td> <td style="width:5%; " valign="top"><span style="line-height:11px;"> </span><div style="text-align:left;text-align-last:auto;"></div> </td> </tr> <tr><td style="width:63%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:left;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Total Advisory Fee</span></div> </td> <td style="width:32%; border-bottom:1px dashed #000000;padding:0px 0px 0px 0px;" valign="middle"><div style="text-align:right;text-align-last:auto;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">$</span>13,391,971</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> 3522950308 35 13391971 0.14       TOP INDUSTRIES (% of Fund's net assets) Oil, Gas & Consumable Fuels 80.5   Energy Equipment & Services 16.7   Independent Power and Renewable Electricity Producers 2.0       Common Stocks 99.2 Short-Term Investments and Net Other Assets (Liabilities) 0.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.2                       Short-Term Investments and Net Other Assets (Liabilities) - 0.8   United States 86.3 Canada 9.1 United Kingdom 4.2 Norway 0.3 France 0.1 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 86.3                       Canada - 9.1                               United Kingdom - 4.2                       Norway - 0.3                               France - 0.1                                   0.805 0.167 0.020 0.992 0.008 0.863 0.091 0.042 0.003 0.001 TOP HOLDINGS(% of Fund's net assets)     Exxon Mobil Corp 24.8   Chevron Corp 11.1   Cenovus Energy Inc 4.6   National Energy Services Reunited Corp 4.5   Canadian Natural Resources Ltd 4.4   Marathon Petroleum Corp 4.2   TechnipFMC PLC 4.1   Energy Transfer LP 3.7   Cheniere Energy Inc 3.6   SLB Ltd 3.6     68.6   0.248 0.111 0.046 0.045 0.044 0.042 0.041 0.037 0.036 0.036 <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 November 6, 2025. 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, 2026 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;">Fidelity Advisor</span><span style="font-family:'Fidelity Sans';font-size:6px;color:#000000;font-style:normal;vertical-align:4px;font-weight:normal;">®</span><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;"> Energy Fund merged into Energy Portfolio on November 14, 2025.</span></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;"><span style="font-family:'Fidelity Sans';font-size:11px;color:#000000;font-style:normal;font-weight:normal;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div></div> <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 November 6, 2025. 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, 2026 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;">Effective October 30, 2025, the fund's investment objective became a fundamental policy.</span> <div style="text-align:left;text-align-last:auto;"><br/></div>