VIP Investment Grade Bond II Portfolio - Initial Class (a)
2,158,812
21,393,826
TOTAL BOND FUNDS
(Cost $34,565,012)
34,398,225
Domestic Equity Funds - 17.8%
Shares
Value ($)
VIP Contrafund Portfolio - Initial Class (a)
30,423
1,910,840
VIP Equity-Income Portfolio - Initial Class (a)
52,709
1,543,849
VIP Growth & Income Portfolio - Initial Class (a)
65,342
2,126,239
VIP Growth Portfolio - Initial Class (a)
27,020
3,166,257
VIP Mid Cap Portfolio - Initial Class (a)
11,525
486,808
VIP Value Portfolio - Initial Class (a)
51,353
1,079,447
VIP Value Strategies Portfolio - Initial Class (a)
29,465
534,199
TOTAL DOMESTIC EQUITY FUNDS
(Cost $2,804,144)
10,847,639
International Equity Funds - 20.2%
Shares
Value ($)
VIP Emerging Markets Portfolio - Initial Class (a)
364,820
4,611,326
VIP Overseas Portfolio - Initial Class (a)
259,654
7,672,779
TOTAL INTERNATIONAL EQUITY FUNDS
(Cost $6,106,222)
12,284,105
Money Market Funds - 5.5%
Yield (%)
Shares
Value ($)
VIP Government Money Market Portfolio - Initial Class (a)(b)
(Cost $3,360,989)
4.76
3,360,989
3,360,989
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $46,836,367)
60,890,958
NET OTHER ASSETS (LIABILITIES) - 0.0%
(5,812)
NET ASSETS - 100.0%
60,885,146
Legend
(a)
Affiliated Fund
(b)
The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Fidelity Inflation-Protected Bond Index Fund
9,341,789
1,379,433
2,237,692
102,520
(119,912)
431,122
8,794,740
Fidelity International Bond Index Fund
1,915,549
278,045
604,048
24,725
(28,213)
60,472
1,621,805
Fidelity Long-Term Treasury Bond Index Fund
2,300,409
319,519
1,007,861
45,125
(215,625)
185,405
1,581,847
VIP Contrafund Portfolio - Initial Class
1,791,452
360,523
724,252
7,251
257,499
225,618
1,910,840
VIP Emerging Markets Portfolio - Initial Class
4,338,412
1,081,724
1,602,163
3,654
114,044
679,309
4,611,326
VIP Equity-Income Portfolio - Initial Class
1,452,686
407,062
570,756
8,134
91,625
163,232
1,543,849
VIP Government Money Market Portfolio - Initial Class
4,679,020
1,567,212
2,885,243
129,095
-
-
3,360,989
VIP Growth & Income Portfolio - Initial Class
1,996,900
444,866
706,220
13,409
172,847
217,846
2,126,239
VIP Growth Portfolio - Initial Class
2,966,784
609,746
1,128,447
44,480
238,598
479,576
3,166,257
VIP High Income Portfolio - Initial Class
1,029,515
127,085
228,201
431
(762)
78,370
1,006,007
VIP Investment Grade Bond II Portfolio - Initial Class
20,864,630
4,323,027
4,760,900
12,719
(149,864)
1,116,933
21,393,826
VIP Mid Cap Portfolio - Initial Class
454,667
124,051
165,768
8,410
21,499
52,359
486,808
VIP Overseas Portfolio - Initial Class
7,655,851
1,150,879
2,146,894
28,352
369,696
643,247
7,672,779
VIP Value Portfolio - Initial Class
1,013,180
312,212
354,752
21,934
42,168
66,639
1,079,447
VIP Value Strategies Portfolio - Initial Class
501,376
163,677
183,807
7,019
22,977
29,976
534,199
62,302,220
12,649,061
19,307,004
457,258
816,577
4,430,104
60,890,958
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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