VIP Investment Grade Bond II Portfolio Investor Class (a)
5,217,185
49,041,543
TOTAL BOND FUNDS
(Cost $109,862,539)
101,946,763
Short-Term Funds - 0.0%
Shares
Value ($)
Fidelity Cash Central Fund 5.39% (b)
(Cost $920)
920
920
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $181,920,360)
225,568,500
NET OTHER ASSETS (LIABILITIES) - 0.0%
77
NET ASSETS - 100.0%
225,568,577
Legend
(a)
Affiliated Fund
(b)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
920
-
-
13
-
-
920
0.0%
Total
920
-
-
13
-
-
920
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Fidelity Inflation-Protected Bond Index Fund
27,028,466
1,777,382
1,387,950
9,210
(4,243)
(22,733)
27,390,922
Fidelity International Bond Index Fund
7,653,948
362,852
1,512,382
48,605
(75,626)
51,424
6,480,216
Fidelity Long-Term Treasury Bond Index Fund
12,479,234
4,975,360
1,717,506
112,636
(197,852)
(225,714)
15,313,522
VIP Contrafund Portfolio Investor Class
10,488,933
425,445
1,260,868
42,063
311,277
1,365,305
11,330,092
VIP Emerging Markets Portfolio Investor Class
19,998,250
775,716
1,555,714
17,194
39,394
580,961
19,838,607
VIP Equity-Income Portfolio Investor Class
8,505,454
808,281
846,344
47,857
30,814
714,408
9,212,613
VIP Growth & Income Portfolio Investor Class
11,687,466
944,478
1,196,967
78,288
43,610
1,166,756
12,645,343
VIP Growth Portfolio Investor Class
17,370,525
704,621
1,725,661
257,971
195,727
2,237,318
18,782,530
VIP High Income Portfolio Investor Class
3,726,207
105,551
183,071
1,596
(15,106)
86,979
3,720,560
VIP Investment Grade Bond II Portfolio Investor Class
56,274,990
2,273,691
9,095,657
33,365
(578,926)
167,445
49,041,543
VIP Mid Cap Portfolio Investor Class
2,662,837
249,706
300,415
49,921
21,210
268,294
2,901,632
VIP Overseas Portfolio Investor Class
38,664,121
513,574
2,735,730
146,799
569,414
2,239,748
39,251,127
VIP Value Portfolio Investor Class
5,935,662
775,833
649,077
128,284
54,000
337,783
6,454,201
VIP Value Strategies Portfolio Investor Class
2,935,535
384,994
343,365
41,679
31,470
196,038
3,204,672
225,411,628
15,077,484
24,510,707
1,015,468
425,163
9,164,012
225,567,580
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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