Fidelity® VIP Contrafund® Portfolio
The fund seeks long-term capital appreciation.
Normally investing primarily in common stocks.
Investing in securities of companies whose value Fidelity Management & Research Company (FMR) believes is not fully recognized by the public.
Investing in domestic and foreign issuers.
Investing in either "growth" stocks or "value" stocks or both.
Using fundamental analysis of factors such as each issuer’s financial condition and industry position, as well as market and economic conditions, to select investments.
- Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments.
- Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market.
- Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole.
You could lose money by investing in the fund.
|Year to Date||8.53%|
|Prior 3 Months||9.17%|
|Prior 1 Year||21.80%|
|Prior 3 Years||13.01%|
|Prior 5 Years||10.09%|
|Prior 10 Years||11.80%|
The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and unit values will fluctuate so that units, when redeemed, may be worth more or less than their original cost. Investment Fund total return performance currently may be lower or higher than the figures stated above.
The total return performance data are based on a hypothetical investment of $1,000, which is redeemed at the end of the periods shown. The total return figures reflect the reinvestment of investment income and capital gains and losses, and are net of expenses which include a contract fee, an expense risk fee, administrative charges, a distribution expense charge and Underlying Funds fees and expenses.
The total return figures for periods extending beyond a year are average rates of return and do not reflect the Funds' actual year-to-year results, which varied over the periods shown. Contributions or withdrawals made within a period would experience different rates of return based on the unit values on the dates of such transactions.
Portfolio Turnover Rate(%): 70%**Excludes all short-term securities.
|Industry||% of Portfolio|
|Company||% of Portfolio|
|Alphabet Inc Cl C|
|Facebook Inc. Cl A|
|UnitedHealth Group Inc.|
|Berkshire Hathaway, Inc. Class B|
|JPMorgan Chase & Co.|
|MasterCard Inc. CL A|
|Top Ten Comprise 37.34% of Portfolio|
William Danoff is co-manager of the fund, which he has managed since May 2018. He also manages other funds. Since joining Fidelity Investments in 1986, Mr. Danoff has worked as a research analyst and portfolio manager. Jean Park is co-manager of the fund, which she has managed since May 2018. She also manages other funds. Since joining Fidelity Investments in 2006, Ms. Park has worked as a research analyst and portfolio manager.