VIP Investment Grade Bond II Portfolio - Initial Class (a)
10,294,922
102,022,681
TOTAL BOND FUNDS
(Cost $164,161,048)
161,177,380
Domestic Equity Funds - 12.3%
Shares
Value ($)
VIP Contrafund Portfolio - Initial Class (a)
92,326
5,798,988
VIP Equity-Income Portfolio - Initial Class (a)
159,962
4,685,289
VIP Growth & Income Portfolio - Initial Class (a)
198,299
6,452,649
VIP Growth Portfolio - Initial Class (a)
82,001
9,608,864
VIP Mid Cap Portfolio - Initial Class (a)
34,976
1,477,387
VIP Value Portfolio - Initial Class (a)
155,847
3,275,901
VIP Value Strategies Portfolio - Initial Class (a)
89,420
1,621,192
TOTAL DOMESTIC EQUITY FUNDS
(Cost $20,060,214)
32,920,270
International Equity Funds - 16.5%
Shares
Value ($)
VIP Emerging Markets Portfolio - Initial Class (a)
1,377,180
17,407,553
VIP Overseas Portfolio - Initial Class (a)
908,078
26,833,709
TOTAL INTERNATIONAL EQUITY FUNDS
(Cost $31,761,100)
44,241,262
Money Market Funds - 11.0%
Yield (%)
Shares
Value ($)
VIP Government Money Market Portfolio - Initial Class (a)(b)
(Cost $29,540,701)
4.76
29,540,701
29,540,701
TOTAL INVESTMENT IN SECURITIES - 100.0%
(Cost $245,523,063)
267,879,613
NET OTHER ASSETS (LIABILITIES) - 0.0%
(49,762)
NET ASSETS - 100.0%
267,829,851
Legend
(a)
Affiliated Fund
(b)
The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur. If an Underlying Funds changes its name, the name presented below is the name in effect at period end.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Fidelity Inflation-Protected Bond Index Fund
43,902,853
3,596,984
7,398,821
492,212
(405,136)
1,907,580
41,603,460
Fidelity International Bond Index Fund
7,652,075
617,718
1,990,372
99,371
(16,031)
145,997
6,409,387
Fidelity Long-Term Treasury Bond Index Fund
9,827,697
776,945
3,761,062
195,134
(683,271)
556,652
6,716,961
VIP Contrafund Portfolio - Initial Class
5,203,651
1,018,104
1,899,270
22,413
219,660
1,256,843
5,798,988
VIP Emerging Markets Portfolio - Initial Class
16,176,839
3,398,767
5,186,584
13,764
168,550
2,849,981
17,407,553
VIP Equity-Income Portfolio - Initial Class
4,219,682
1,263,495
1,587,614
24,613
71,069
718,657
4,685,289
VIP Government Money Market Portfolio - Initial Class
35,491,219
7,874,500
13,825,018
1,130,281
-
-
29,540,701
VIP Growth & Income Portfolio - Initial Class
5,800,472
1,469,596
2,022,858
41,201
155,607
1,049,832
6,452,649
VIP Growth Portfolio - Initial Class
8,617,574
1,782,340
2,977,314
137,504
301,010
1,885,254
9,608,864
VIP High Income Portfolio - Initial Class
4,507,789
258,091
687,875
1,911
(8,550)
355,436
4,424,891
VIP Investment Grade Bond II Portfolio - Initial Class
99,453,184
13,215,413
15,380,050
61,565
(559,720)
5,293,854
102,022,681
VIP Mid Cap Portfolio - Initial Class
1,320,626
354,554
425,622
25,197
28,756
199,073
1,477,387
VIP Overseas Portfolio - Initial Class
26,309,096
3,077,889
6,129,301
98,671
464,158
3,111,867
26,833,709
VIP Value Portfolio - Initial Class
2,942,935
940,255
947,190
66,426
56,358
283,543
3,275,901
VIP Value Strategies Portfolio - Initial Class
1,456,302
472,729
473,763
21,277
26,520
139,404
1,621,192
272,881,994
40,117,380
64,692,714
2,431,540
(181,020)
19,753,973
267,879,613
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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