Fidelity Select Leisure Portfolio

The portfolio predominantly allocates its capital to equity securities, specifically common stocks. A substantial portion, at least 80% of its assets, is committed to companies whose primary operations involve the creation, manufacturing, or distribution of products and services within the leisure sector. These investments encompass both U.S. and international firms. Its investment strategy relies on fundamental analysis, carefully assessing an issuer's financial health, competitive standing within its industry, and broader market and economic trends to identify suitable opportunities. The fund operates as a non-diversified entity.