FIDELITY SELECT PORTFOLIOS
485B24E, 1994-06-06
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<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM N-1A 
REGISTRATION STATEMENT  (NO. 2-69972)
UNDER THE SECURITIES ACT OF 1933           [    ]   
 
Pre-Effective Amendment No. ____________   [    ]   
 
Post-Effective Amendment No. _____49____   [ x ]    
 
and                                                 
 
REGISTRATION STATEMENT UNDER THE INVESTMENT
COMPANY ACT OF 1940          [    ]    
 
Amendment No. ____________   [    ]    
 
FIDELITY SELECT PORTFOLIOS                                                 
                                                                        
(Exact Name of Registrant as Specified in Charter)
82 Devonshire Street, Boston, MA  02109                                    
                                                            
(Address of Principal Executive Offices)
Registrant's Telephone Number:     (617) 570-7000                          
                                                         
 
Arthur S. Loring, Esq., 82 Devonshire Street, Boston, MA  02109            
                                                  
(Name and Address of Agent for Service)
It is proposed that this filing will become effective on JUNE 7, 1994,
pursuant to Paragraph (b) of Rule 485.
CALCULATION OF REGISTRATION FEE
 
<TABLE>
<CAPTION>
<S>               <C>                 <C>                 <C>                 <C>                
Title                                                                                            
of                                                        Proposed                               
Securities        Amount              Proposed            Maximum                                
Being             of Shares           Maximum             Aggregate           Amount of          
Registered        Being Registered    Offering per Unit   Offering Price      Registration Fee   
 
FIDELITY SELECT         39,073,002*            SEE             $986,108,305            $100      
PORTFOLIOS                              ATTACHED                                                 
                                        SCHEDULE                                                 
 
</TABLE>
 
 
The fee for the above shares to be registered by this filing has been
computed on the basis of the average of the bid and ask prices in effect on
JUNE 1, 1994.
* This calculation has been made pursuant to Rule 24e-2 under the
Investment Company Act of 1940.  Registrant, during its fiscal year ended
FEBRUARY 28, 1994, redeemed or repurchased 187,168,111 shares.  41,515,672
shares are being utilized for the purpose of reduction pursuant to
Paragraph (2) of such rule.  145,652,439 redeemed or repurchased shares
were used for reduction pursuant to Paragraph (a) of Rule 24e-2 or
Paragraph (c) of Rule 24f-2 in previous filings of post-effective
amendments during the current year.
 
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
No. 2-69972
FORM N-1A 
Detail Schedule
 
 
 
<TABLE>
<CAPTION>
<S>        <C>               <C>             <C>             <C>           <C>                          <C>                         
                                                                                                       Shares Redeemed             
                                                                                                      or Repurchased              
                                                                           Shares Being                 Used for Reduction          
                                                                           Utilized For                 Pursuant to                 
                             Proposed        Proposed        Shares        Reduction                    Paragraph (a) of            
           Amount            Maximum         Maximum         Redeemed      Pursuant to                  Rule 24e-2 or               
           of Shares         Offering Price  Aggregate       Year End      Paragraph (2) of             Paragraph (c) of            
Portfolio  Being Registered  Per Unit        Offering Price  2/28/94       Rule 24e-2                   Rule 24f-2                  
                                                                                                                          
 
Air Transportation       247,175     $14.64   $3,618,636     5,077,239    245,854                      4,831,385                   
 
Biotechnology            5,048,849   $24.38   $123,090,939   22,006,765    5,048,056                    16,958,709                  
 
Consumer Products        31,289      $14.41   $450,871       1,089,262     44,720                       1,044,542                   
 
Energy                   2,611,521   $17.37   $45,362,119    20,523,434    2,779,490                    17,743,944                  
 
Energy Services          4,263,177   $11.69   $49,836,537    33,889,248    4,261,523                    29,627,725                  
 
Environmental Services   166,362     $11.09   $1,844,949     4,401,687     275,559                      4,126,128                   
 
Financial Services       2,014,576   $53.89   $108,565,511   6,431,527     2,121,188                    4,310,339                   
 
Food &               846,281     $29.12   $24,643,698    4,884,544     909,182                      3,975,362                   
Agriculture                                                                                                          
 
Health Care              1,723,301   $65.93   $113,617,254   6,474,354     1,952,949                    4,521,405                   
 
Home Finance             7,775,697   $26.34   $204,811,859   29,193,857    9,423,455                    19,770,402                  
 
Insurance                358,314     $20.06   $7,187,775     1,788,708     357,350                      1,431,358                   
 
Regional Banks           11,033,881  $19.80   $218,470,853   24,299,694    11,032,905                   13,266,789                  
 
Retailing                1,188,120   $24.28   $28,847,561    4,546,561     1,300,344                    3,246,217                   
 
Software                 579,958     $23.66   $13,721,810    15,154,744    579,141                      14,575,603                  
 
Utilities                1,184,501   $35.49   $42,037,933    7,406,487     1,183,956                    6,222,531                   
 
                                                                                                                                   
                                                                                                                                   
 
TOTAL                    39,073,002           $986,108,305   187,168,111   41,515,672                   145,652,439                 
 
                                                                                                                         
                                                                                                                           
 
</TABLE>
 
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant certifies that it meets all
of the requirements for the effectiveness of this Registration Statement
pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused this Post-Effective Amendment No. 49 to the Registration Statement
to be signed on its behalf by the undersigned, thereunto duly authorized,
in the City of Boston, and Massachusetts, on the 6th day of June 1994.
      FIDELITY SELECT PORTFOLIOS
      By /s/Edward C. Johnson 3d (dagger)
        Edward C. Johnson 3d, President
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been sJuigned below by the following persons in
the capacities and on the dates indicated.
     (Signature)    (Title)   (Date)   
 
 
<TABLE>
<CAPTION>
<S>                               <C>                             <C>             
/s/Edward C. Johnson 3d(dagger)   President and Trustee           June 6, 1994    
 
    Edward C. Johnson 3d          (Principal Executive Officer)                   
 
                                                                                  
 
</TABLE>
 
/s/Gary L. French      Treasurer   June 6, 1994   
 
    Gary L. French               
 
/s/J. Gary Burkhead    Trustee   June 6, 1994   
 
    J. Gary Burkhead               
 
                                                          
/s/Ralph F. Cox              *   Trustee   June 6, 1994   
 
   Ralph F. Cox               
 
                                                      
/s/Phyllis Burke Davis   *   Trustee   June 6, 1994   
 
    Phyllis Burke Davis               
 
                                                         
/s/Richard J. Flynn         *   Trustee   June 6, 1994   
 
    Richard J. Flynn               
 
                                                         
/s/E. Bradley Jones         *   Trustee   June 6, 1994   
 
    E. Bradley Jones               
 
                                                           
/s/Donald J. Kirk             *   Trustee   June 6, 1994   
 
    Donald J. Kirk               
 
                                                           
/s/Peter S. Lynch             *   Trustee   June 6, 1994   
 
    Peter S. Lynch               
 
                                                      
/s/Edward H. Malone      *   Trustee   June 6, 1994   
 
   Edward H. Malone                
 
                                                    
/s/Marvin L. Mann_____*    Trustee   June 6, 1994   
 
   Marvin L. Mann                
 
/s/Gerald C. McDonough*   Trustee   June 6, 1994   
 
    Gerald C. McDonough               
 
/s/Thomas R. Williams    *   Trustee   June 6, 1994   
 
   Thomas R. Williams               
 
(dagger) Signatures affixed by J. Gary Burkhead pursuant to a power of
attorney dated October 20, 1993 and filed herewith.
* Signature affixed by Robert C. Hacker pursuant to a power of attorney
dated October 20, 1993 and filed herewith.
POWER OF ATTORNEY
 I, the undersigned President and Director, Trustee or General Partner, as
the case may be, of the following investment companies:
 
<TABLE>
<CAPTION>
<S>                                   <C>                                               
Fidelity Advisor Series I             Fidelity Institutional Trust                      
Fidelity Advisor Series II            Fidelity Investment Trust                         
Fidelity Advisor Series III           Fidelity Magellan Fund                            
Fidelity Advisor Series IV            Fidelity Massachusetts Municipal Trust            
Fidelity Advisor Series V             Fidelity Money Market Trust                       
Fidelity Advisor Series VI            Fidelity Mt. Vernon Street Trust                  
Fidelity Advisor Series VII           Fidelity Municipal Trust                          
Fidelity Advisor Series VIII          Fidelity New York Municipal Trust                 
Fidelity California Municipal Trust   Fidelity Puritan Trust                            
Fidelity Capital Trust                Fidelity School Street Trust                      
Fidelity Charles Street Trust         Fidelity Securities Fund                          
Fidelity Commonwealth Trust           Fidelity Select Portfolios                        
Fidelity Congress Street Fund         Fidelity Sterling Performance Portfolio, L.P.     
Fidelity Contrafund                   Fidelity Summer Street Trust                      
Fidelity Corporate Trust              Fidelity Trend Fund                               
Fidelity Court Street Trust           Fidelity U.S. Investments-Bond Fund, L.P.         
Fidelity Destiny Portfolios           Fidelity U.S. Investments-Government Securities   
Fidelity Deutsche Mark Performance       Fund, L.P.                                     
  Portfolio, L.P.                     Fidelity Union Street Trust                       
Fidelity Devonshire Trust             Fidelity Yen Performance Portfolio, L.P.          
Fidelity Exchange Fund                Spartan U.S. Treasury Money Market                
Fidelity Financial Trust                 Fund                                           
Fidelity Fixed-Income Trust           Variable Insurance Products Fund                  
Fidelity Government Securities Fund   Variable Insurance Products Fund II               
Fidelity Hastings Street Trust                                                          
Fidelity Income Fund                                                                    
 
</TABLE>
 
plus any other investment company for which Fidelity Management &
Research Company acts as investment adviser and for which the undersigned
individual serves as President and Board Member (collectively, the
"Funds"), hereby severally constitute and appoint J. Gary Burkhead, my true
and lawful attorney-in-fact, with full power of substitution, and with full
power to sign for me and in my name in the appropriate capacity, all
Pre-Effective Amendments to any Registration Statements of the Funds, any
and all subsequent Post-Effective Amendments to said Registration
Statements, any Registration Statements on Form N-14, and any supplements
or other instruments in connection therewith, and generally to do all such
things in my name and behalf in connection therewith as said
attorney-in-fact deem necessary or appropriate, to comply with the
provisions of the Securities Act of 1933 and Investment Company Act of
1940, and all related requirements of the Securities and Exchange
Commission.  I hereby ratify and confirm all that said attorneys-in-fact or
their substitutes may do or cause to be done by virtue hereof.
 WITNESS my hand on the date set forth below.
/s/Edward C. Johnson 3d   October 20, 1993   
 
Edward C. Johnson 3d                         
 
 
POWER OF ATTORNEY
 We, the undersigned Directors, Trustees or General Partners, as the case
may be, of the following investment companies:
 
<TABLE>
<CAPTION>
<S>                                   <C>                                               
Fidelity Advisor Series I             Fidelity Institutional Trust                      
Fidelity Advisor Series II            Fidelity Investment Trust                         
Fidelity Advisor Series III           Fidelity Magellan Fund                            
Fidelity Advisor Series IV            Fidelity Massachusetts Municipal Trust            
Fidelity Advisor Series V             Fidelity Money Market Trust                       
Fidelity Advisor Series VI            Fidelity Mt. Vernon Street Trust                  
Fidelity Advisor Series VII           Fidelity Municipal Trust                          
Fidelity Advisor Series VIII          Fidelity New York Municipal Trust                 
Fidelity California Municipal Trust   Fidelity Puritan Trust                            
Fidelity Capital Trust                Fidelity School Street Trust                      
Fidelity Charles Street Trust         Fidelity Securities Fund                          
Fidelity Commonwealth Trust           Fidelity Select Portfolios                        
Fidelity Congress Street Fund         Fidelity Sterling Performance Portfolio, L.P.     
Fidelity Contrafund                   Fidelity Summer Street Trust                      
Fidelity Corporate Trust              Fidelity Trend Fund                               
Fidelity Court Street Trust           Fidelity U.S. Investments-Bond Fund, L.P.         
Fidelity Destiny Portfolios           Fidelity U.S. Investments-Government Securities   
Fidelity Deutsche Mark Performance       Fund, L.P.                                     
  Portfolio, L.P.                     Fidelity Union Street Trust                       
Fidelity Devonshire Trust             Fidelity Yen Performance Portfolio, L.P.          
Fidelity Exchange Fund                Spartan U.S. Treasury Money Market                
Fidelity Financial Trust                 Fund                                           
Fidelity Fixed-Income Trust           Variable Insurance Products Fund                  
Fidelity Government Securities Fund   Variable Insurance Products Fund II               
Fidelity Hastings Street Trust                                                          
Fidelity Income Fund                                                                    
 
</TABLE>
 
plus any other investment company for which Fidelity Management &
Research Company acts as investment adviser and for which the undersigned
individuals serve as Board Members (collectively, the "Funds"), hereby
severally constitute and appoint Arthur J. Brown, Arthur C. Delibert,
Robert C. Hacker, Richard M. Phillips, Dana L. Platt and Stephanie A.
Xupolos, each of them singly, our true and lawful attorneys-in-fact, with
full power of substitution, and with full power to each of them, to sign
for us and in our names in the appropriate capacities, all Pre-Effective
Amendments to any Registration Statements of the Funds, any and all
subsequent Post-Effective Amendments to said Registration Statements, any
Registration Statements on Form N-14, and any supplements or other
instruments in connection therewith, and generally to do all such things in
our names and behalf in connection therewith as said attorneys-in-fact deem
necessary or appropriate, to comply with the provisions of the Securities
Act of 1933 and Investment Company Act of 1940, and all related
requirements of the Securities and Exchange Commission, hereby ratifying
and confirming all that said attorneys-in-fact or their substitutes may do
or cause to be done by virtue hereof.
 WITNESS our hands on this twentieth day of October, 1993.
                                                   
 
/s/Edward C. Johnson 3d   /s/Peter S. Lynch        
 
Edward C. Johnson 3d      Peter S. Lynch           
 
                                                   
 
                                                   
 
/s/J. Gary Burkhead       /s/Edward H. Malone      
 
J. Gary Burkhead          Edward H. Malone         
 
                                                   
 
                                                   
 
/s/Richard J. Flynn       /s/Gerald C. McDonough   
 
Richard J. Flynn          Gerald C. McDonough      
 
                                                   
 
                                                   
 
/s/E. Bradley Jones       /s/Thomas R. Williams    
 
E. Bradley Jones          Thomas R. Williams       
 
                                                   
 
                                                   
 
/s/Donald J. Kirk                                  
 
Donald J. Kirk                                     
 
POWER OF ATTORNEY
 I, the undersigned Director, Trustee or General Partner, as the case may
be, of the following investment companies:
 
<TABLE>
<CAPTION>
<S>                                   <C>                                                
Fidelity Advisor Series I             Fidelity Magellan Fund                             
Fidelity Advisor Series III           Fidelity Massachusetts Municipal Trust             
Fidelity Advisor Series IV            Fidelity Money Market Trust                        
Fidelity Advisor Series VI            Fidelity Mt. Vernon Street Trust                   
Fidelity Advisor Series VIII          Fidelity New York Municipal Trust                  
Fidelity California Municipal Trust   Fidelity Puritan Trust                             
Fidelity Capital Trust                Fidelity School Street Trust                       
Fidelity Charles Street Trust         Fidelity Select Portfolios                         
Fidelity Commonwealth Trust           Fidelity Sterling Performance Portfolio, L.P.      
Fidelity Congress Street Fund         Fidelity Summer Street Trust                       
Fidelity Contrafund                   Fidelity Trend Fund                                
Fidelity Deutsche Mark Performance    Fidelity Union Street Trust                        
  Portfolio, L.P.                     Fidelity U.S. Investments-Bond Fund, L.P.          
Fidelity Devonshire Trust             Fidelity U.S. Investments-Government Securities    
Fidelity Financial Trust                 Fund, L.P.                                      
Fidelity Fixed-Income Trust           Fidelity Yen Performance Portfolio, L.P.           
Fidelity Government Securities Fund   Spartan U.S. Treasury Money Market                 
Fidelity Hastings Street Trust          Fund                                             
Fidelity Income Fund                  Variable Insurance Products Fund                   
Fidelity Institutional Trust          Variable Insurance Products Fund II                
Fidelity Investment Trust                                                                
 
</TABLE>
 
plus any other investment company for which Fidelity Management &
Research Company acts as investment adviser and for which the undersigned
individual serves as a Board Member (collectively, the "Funds"), hereby
severally constitute and appoint Arthur J. Brown, Arthur C. Delibert,
Robert C. Hacker, Richard M. Phillips, Dana L. Platt and Stephanie A.
Xupolos, each of them singly, my true and lawful attorneys-in-fact, with
full power of substitution, and with full power to each of them, to sign
for me and in my name in the appropriate capacity, all Pre-Effective
Amendments to any Registration Statements of the Funds, any and all
subsequent Post-Effective Amendments to said Registration Statements, any
Registration Statements on Form N-14, and any supplements or other
instruments in connection therewith, and generally to do all such things in
my name and behalf in connection therewith as said attorneys-in-fact deem
necessary or appropriate, to comply with the provisions of the Securities
Act of 1933 and Investment Company Act of 1940, and all related
requirements of the Securities and Exchange Commission, hereby ratifying
and confirming all that said attorneys-in-fact or their substitutes may do
or cause to be done by virtue hereof.
 WITNESS my hand on the date set forth below.
/s/Ralph F. Cox   October 20, 1993   
 
Ralph F. Cox                         
 
 
POWER OF ATTORNEY
 I, the undersigned Director, Trustee or General Partner, as the case may
be, of the following investment companies:
 
<TABLE>
<CAPTION>
<S>                                   <C>                                                
Fidelity Advisor Series I             Fidelity Investment Trust                          
Fidelity Advisor Series III           Fidelity Special Situations Fund                   
Fidelity Advisor Series IV            Fidelity Sterling Performance Portfolio, L.P.      
Fidelity Advisor Series VI            Fidelity Trend Fund                                
Fidelity Advisor Series VII           Fidelity U.S. Investments-Bond Fund, L.P.          
Fidelity Advisor Series VIII          Fidelity U.S. Investments-Government Securities    
Fidelity Contrafund                      Fund, L.P.                                      
Fidelity Deutsche Mark Performance    Fidelity Yen Performance Portfolio, L.P.           
  Portfolio, L.P.                     Spartan U.S. Treasury Money Market                 
Fidelity Fixed-Income Trust             Fund                                             
Fidelity Government Securities Fund   Variable Insurance Products Fund                   
Fidelity Hastings Street Trust        Variable Insurance Products Fund II                
Fidelity Institutional Trust                                                             
 
</TABLE>
 
plus any other investment company for which Fidelity Management &
Research Company acts as investment adviser and for which the undersigned
individual serves as a Board Member (collectively, the "Funds"), hereby
severally constitute and appoint Arthur J. Brown, Arthur C. Delibert,
Robert C. Hacker, Richard M. Phillips, Dana L. Platt and Stephanie A.
Xupolos, each of them singly, my true and lawful attorneys-in-fact, with
full power of substitution, and with full power to each of them, to sign
for me and in my name in the appropriate capacity, all Pre-Effective
Amendments to any Registration Statements of the Funds, any and all
subsequent Post-Effective Amendments to said Registration Statements, any
Registration Statements on Form N-14, and any supplements or other
instruments in connection therewith, and generally to do all such things in
my name and behalf in connection therewith as said attorneys-in-fact deem
necessary or appropriate, to comply with the provisions of the Securities
Act of 1933 and Investment Company Act of 1940, and all related
requirements of the Securities and Exchange Commission, hereby ratifying
and confirming all that said attorneys-in-fact or their substitutes may do
or cause to be done by virtue hereof.
 WITNESS my hand on the date set forth below.
/s/Marvin L. Mann   October 20, 1993   
 
Marvin L. Mann                         
 
POWER OF ATTORNEY
 I, the undersigned Director, Trustee or General Partner, as the case may
be, of the following investment companies:
 
<TABLE>
<CAPTION>
<S>                                   <C>                                                
Fidelity Advisor Series I             Fidelity Investment Trust                          
Fidelity Advisor Series III           Fidelity Mt. Vernon Street Trust                   
Fidelity Advisor Series IV            Fidelity School Street Trust                       
Fidelity Advisor Series VI            Fidelity Select Portfolios                         
Fidelity Advisor Series VIII          Fidelity Sterling Performance Portfolio, L.P.      
Fidelity Beacon Street Trust          Fidelity Trend Fund                                
Fidelity Capital Trust                Fidelity Union Street Trust                        
Fidelity Commonwealth Trust           Fidelity U.S. Investments-Bond Fund, L.P.          
Fidelity Contrafund                   Fidelity U.S. Investments-Government Securities    
Fidelity Deutsche Mark Performance       Fund, L.P.                                      
  Portfolio, L.P.                     Fidelity Yen Performance Portfolio, L.P.           
Fidelity Devonshire Trust             Spartan U.S. Treasury Money Market                 
Fidelity Financial Trust                Fund                                             
Fidelity Fixed-Income Trust           Variable Insurance Products Fund                   
Fidelity Government Securities Fund   Variable Insurance Products Fund II                
Fidelity Hastings Street Trust                                                           
Fidelity Institutional Trust                                                             
 
</TABLE>
 
plus any other investment company for which Fidelity Management &
Research Company acts as investment adviser and for which the undersigned
individual serves as a Board Member (collectively, the "Funds"), hereby
severally constitute and appoint Arthur J. Brown, Arthur C. Delibert,
Robert C. Hacker, Richard M. Phillips, Dana L. Platt and Stephanie A.
Xupolos, each of them singly, my true and lawful attorneys-in-fact, with
full power of substitution, and with full power to each of them, to sign
for me and in my name in the appropriate capacity, all Pre-Effective
Amendments to any Registration Statements of the Funds, any and all
subsequent Post-Effective Amendments to said Registration Statements, any
Registration Statements on Form N-14, and any supplements or other
instruments in connection therewith, and generally to do all such things in
my name and behalf in connection therewith as said attorneys-in-fact deem
necessary or appropriate, to comply with the provisions of the Securities
Act of 1933 and Investment Company Act of 1940, and all related
requirements of the Securities and Exchange Commission, hereby ratifying
and confirming all that said attorneys-in-fact or their substitutes may do
or cause to be done by virtue hereof.
 WITNESS my hand on the date set forth below.
/s/Phyllis Burke Davis   October 20, 1993   
 
Phyllis Burke Davis                         
 
 



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