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Variable Insurance Products Fund – ‘NSAR-A’ for 6/30/08

On: Friday, 8/29/08, at 4:52pm ET · Effective: 8/29/08 · For: 6/30/08 · Accession #: 722574-8-188 · File #: 811-03329

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/29/08  Variable Insurance Products Fund  NSAR-A      6/30/08    5:119K                                   Fidelity Adv Series I
          → Equity-Income Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2 — Service Class 2 R
          → Growth Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2 (QVG2Q) — Service Class 2 R
          → High Income Portfolio ⇒ Initial Class — Initial Class R — Investor Class — Service Class — Service Class 2 (QHI2Q) — Service Class 2 R — Service Class R
          → Overseas Portfolio ⇒ Initial Class — Initial Class R — Investor Class — Service Class — Service Class 2 (QVO2Q) — Service Class 2 R — Service Class R
          → Value Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      Semi-Annual Report by an Investment Company           77    315K 
 3: EX-99.77C VOTES  Voting Matters                                 HTML     14K 
 2: EX-99.77Q1 OTHR EXHB  Declaration of Trust                      HTML      7K 
 4: EX-99.77Q1 OTHR EXHB  Subadvisory Agreement                     HTML      9K 
 5: EX-99.77Q1 OTHR EXHB  Subadvisory Agreement                     HTML     21K

‘NSAR-A’ — Semi-Annual Report by an Investment Company

SEC Info℠ rendering: Data from the Answer File, which may only contain updates to a prior Form N-SAR

Form N-SAR

Semi-Annual Report by an Open-End Investment Company

Report
Registrant: Variable Insurance Products Fund — List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended: 6/30/08

Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant? Yes

Is this an Amendment to a previous Report? No
Is this a change to a previous Report? No
Registrant
1. SEC CIK: 356494
SEC File #: 811-03329

Telephone #: 603-791-7481
2. Address: 82 Devonshire Street
Boston, MA 02109
3. Is this the first Form N-SAR filed by the Registrant? No
4. Is this the final Form N-SAR filed by the Registrant? No
Funds/Series ↑Top of Form N-SAR
7. Is the Registrant a Funds/Series (multiple portfolios) company? Yes

The number of separate Funds/Series (portfolios) at period end: 5
The number of separate Funds/Series (portfolios) reported here: 5...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 3: VIP Equity-Income Portfolio [ now
Equity-Income Portfolio ] — S#7716
↓ Series 4: VIP Growth Portfolio [ now
Growth Portfolio ] — S#7717 ⇒ QVG2Q
↓ Series 2: VIP High Income Portfolio [ now
High Income Portfolio ] — S#7718 ⇒ QHI2Q
↓ Series 5: VIP Overseas Portfolio [ now
Overseas Portfolio ] — S#7720 ⇒ QVO2Q
↓ Series 6: VIP Value Portfolio [ now
Value Portfolio ] — S#7721
Family of Investment Companies
19. Is the Registrant/Series part of a “family” of investment companies? Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family: 393

The Identification Code of the family for Form N-SAR Filings: FIDELITYZZ
Investment Company Type
27. Is the Registrant an “open-end” investment company? Yes, Open-End
Additional Disclosures
77. Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)? Yes

EX-99.77C: Matters Submitted to a Vote of Security Holders? Yes

EX-99.77Q1: Other Disclosure? Yes
Subsidiaries
78. Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report? No
All Series ↑List of 5 Funds/Series Reported Here

Information Common to All Funds/Series
All: Principal Underwriter
11.1 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
Location: Boston, MA
All: Shareholder Servicing/Transfer Agent
12.1 Name: Fidelity Investments Instit. Operations Co.
SEC File #: 084-01839
Location: Boston, MA
All: Affiliated Broker/Dealer
14.1 Name: Fidelity Investments Canada Ltd.
14.2 Name: Fidelity Brokerage Services Japan LLC
14.3 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
14.4 Name: National Financial Services LLC
SEC File #: 008-26740
14.5 Name: Fidelity Brokerage Services LLC
SEC File #: 008-23292
All: Custodian
18. Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4? Yes
All: Brokerage Commissions Paid on Portfolio Transactions
20. The brokers who received the largest amount of gross brokerage
commissions during the period:
20.1 Broker: Merrill Lynch & Co., Inc.
IRS #: 13-2740599
Commissions paid ($000s): 1,325
20.2 Broker: Credit Suisse First Boston
IRS #: 13-5659485
Commissions paid ($000s): 1,237
20.3 Broker: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Commissions paid ($000s): 1,034
20.4 Broker: Goldman Sachs & Co.
IRS #: 13-5108880
Commissions paid ($000s): 999
20.5 Broker: UBS AG
IRS #: 13-3873456
Commissions paid ($000s): 949
20.6 Broker: Morgan Stanley
IRS #: 13-2655998
Commissions paid ($000s): 816
20.7 Broker: JPMorgan Securities, Inc.
IRS #: 13-3224016
Commissions paid ($000s): 793
20.8 Broker: Citigroup Global Markets Holdings, Inc.
IRS #: 04-3531811
Commissions paid ($000s): 631
20.9 Broker: Deutsche Bank AG
IRS #: 36-6843535
Commissions paid ($000s): 548
20.10 Broker: Bank of America Corp.
IRS #: 04-3410012
Commissions paid ($000s): 220
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 10,644
All: Portfolio Transactions with Entities Acting as Principals
22. The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
22.1 Entity: Fidelity Cash Central Fund
IRS #: 04-3331103
Registrant’s purchases ($000s): 2,475,196
Registrant’s sales ($000s): 2,739,437
22.2 Entity: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Registrant’s purchases ($000s): 118,496
Registrant’s sales ($000s): 41,085
22.3 Entity: JPMorgan Chase & Co.
IRS #: 13-3224016
Registrant’s purchases ($000s): 118,273
Registrant’s sales ($000s): 28,202
22.4 Entity: Fidelity Contrafund
IRS #: 04-6056833
Registrant’s purchases ($000s): 54,508
Registrant’s sales ($000s): 67,268
22.5 Entity: Citigroup, Inc.
IRS #: 04-3531811
Registrant’s purchases ($000s): 90,293
Registrant’s sales ($000s): 9,462
22.6 Entity: Credit Suisse Group
IRS #: 13-5659485
Registrant’s purchases ($000s): 58,515
Registrant’s sales ($000s): 39,593
22.7 Entity: Bank of America Corp.
IRS #: 04-3410012
Registrant’s purchases ($000s): 65,884
Registrant’s sales ($000s): 31,704
22.8 Entity: Merrill Lynch & Co., Inc.
IRS #: 13-2740599
Registrant’s purchases ($000s): 65,217
Registrant’s sales ($000s): 19,262
22.9 Entity: Morgan Stanley
IRS #: 13-2655998
Registrant’s purchases ($000s): 59,711
Registrant’s sales ($000s): 20,457
22.10 Entity: Goldman Sachs Group, Inc.
IRS #: 13-5108880
Registrant’s purchases ($000s): 55,126
Registrant’s sales ($000s): 22,519
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 4,695,937
Aggregate sales ($000s): 3,701,884
All: Considerations which Affected the Participation of Brokers or Dealers
26. Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ............................... No
Receipt of investment research and statistical info .................... Yes
Receipt of quotations for portfolio valuations ......................... No
Ability to execute portfolio transactions to obtain the best price
and execution ........................................................ Yes
Receipt of telephone line and wire services ............................ Yes
Broker or Dealer which is an affiliated person ......................... Yes
An arrangement to return or credit part or all of commissions or
profits thereon...
To an Investment Adviser or Principal Underwriter, or to an
affiliated person of either ...................................... No
To the Registrant .................................................. Yes
Other .................................................................. No
All: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
31. Net amount retained by the Registrant’s/Series’ Principal Underwriter or
by any underwriter or dealer which is an affiliated person of the
Principal Underwriter thereof from front-end sales loads collected from
sales of the Registrant’s/Series’ shares during the period ($000s): 0

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s): 0
32. Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s): 0
33. Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s): 0
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period? No
All: Advisory Fee
45. Did the Registrant/Series have an advisory contract during the period? Yes
46. Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period? No
47. Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets? No
54. Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................ Yes
Clerical and bookkeeping services ...................................... Yes
Accounting services .................................................... No
Services of independent auditors ....................................... No
Services of outside counsel ............................................ No
Registration and filing fees ........................................... No
Stationery, supplies and printing ...................................... Yes
Salaries & compensation of Registrant’s interested Directors ........... Yes
Salaries & compensation of Registrant’s disinterested Directors ........ No
Salaries & compensation of Registrant’s Officers who aren’t Directors .. Yes
Reports to current shareholders ........................................ Yes
Determination of offering and redemption prices ........................ No
Trading department ..................................................... Yes
Prospectus preparation and printing for current shareholders ........... Yes
Other .................................................................. Yes
Series 2 ↑Information Common to All Funds/Series ↑List of 5 Funds/Series
7. Name: VIP High Income Portfolio [ now
High Income Portfolio ] — S#7718 ⇒ QHI2Q

Is this the final Form N-SAR filed for this Fund/Series? No
S 2: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Research & Analysis Co. (Frac)
Role: Sub-Adviser
SEC File #: 801-28774
Location: Boston, MA
8.3 Name: Fidelity Investments Japan Ltd. (Fij)
Role: Sub-Adviser
Location: Tokyo
Japan
8.4 Name: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.5 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.6 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
S 2: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
S 2: Custodian
15.1 Name: The Bank of New York Co., Inc.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.2 Name: JPMorgan Chase Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.3 Name: The Bank of New York Co., Inc.
Role: Sub-Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.4 Name: Citibank Argentina
Role: Sub-Custodian
Location: Buenos Aires
Argentina

Type of custody: Rule 17f-5 — Foreign Custodian
15.5 Name: National Australia Bank
Role: Sub-Custodian
Location: Melbourne
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
15.6 Name: Bank Austria Creditanstalt AG
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.7 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Manama
Bahrain

Type of custody: Rule 17f-5 — Foreign Custodian
15.8 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Dhaka
Bangladesh

Type of custody: Rule 17f-5 — Foreign Custodian
15.9 Name: ING Belgium SA/NV
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.10 Name: Butterfield Trust Bermuda Ltd.
Role: Sub-Custodian
Location: Hamilton
Bermuda

Type of custody: Rule 17f-5 — Foreign Custodian
15.11 Name: Barclays Bank of Botswana Ltd.
Role: Sub-Custodian
Location: Gabarone
Botswana

Type of custody: Rule 17f-5 — Foreign Custodian
15.12 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Sao Paulo
Brazil

Type of custody: Rule 17f-5 — Foreign Custodian
15.13 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Sofia
Bulgaria

Type of custody: Rule 17f-5 — Foreign Custodian
15.14 Name: Royal Bank of Canada
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.15 Name: Credit Suisse
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.16 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Shanghai
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.17 Name: Barclays Bank of Zimbabwe Ltd.
Role: Sub-Custodian
Location: Harare
Zimbabwe

Type of custody: Rule 17f-5 — Foreign Custodian
15.18 Name: Cititrust S.A.
Role: Sub-Custodian
Location: Bogota
Colombia

Type of custody: Rule 17f-5 — Foreign Custodian
15.19 Name: Banco BCT S.A.
Role: Sub-Custodian
Location: San Jose
Costa Rica

Type of custody: Rule 17f-5 — Foreign Custodian
15.20 Name: Privredna Banka Zagreb D.D.
Role: Sub-Custodian
Location: Zagreb
Croatia

Type of custody: Rule 17f-5 — Foreign Custodian
15.21 Name: BNP Paribas Securities Services Athens
Role: Sub-Custodian
Location: Nicosia
Cyprus

Type of custody: Rule 17f-5 — Foreign Custodian
15.22 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Prague
Czech Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.23 Name: Danske Bank
Role: Sub-Custodian
Location: Copenhagen
Denmark

Type of custody: Rule 17f-5 — Foreign Custodian
15.24 Name: Banco De La Produccion
Role: Sub-Custodian
Location: Quito
Ecuador

Type of custody: Rule 17f-5 — Foreign Custodian
15.25 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Cairo
Egypt

Type of custody: Rule 17f-5 — Foreign Custodian
15.26 Name: Hansabank Ltd. Estonia
Role: Sub-Custodian
Location: Tallinn
Estonia

Type of custody: Rule 17f-5 — Foreign Custodian
15.27 Name: Nordea Bank Finland plc
Role: Sub-Custodian
Location: Helsinki
Finland

Type of custody: Rule 17f-5 — Foreign Custodian
15.28 Name: ING Bank (Eurasia) Zao
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.29 Name: Caceis Bank
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.30 Name: BHF-Bank
Role: Sub-Custodian
Location: Frankfurt
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.31 Name: Barclays Bank of Ghana Ltd.
Role: Sub-Custodian
Location: Accra
Ghana

Type of custody: Rule 17f-5 — Foreign Custodian
15.32 Name: BNP Paribas Securities Services
Role: Sub-Custodian
Location: Athens
Greece

Type of custody: Rule 17f-5 — Foreign Custodian
15.33 Name: Hong Kong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Hong Kong
Hong Kong

Type of custody: Rule 17f-5 — Foreign Custodian
15.34 Name: Landsbanki Islands
Role: Sub-Custodian
Location: Reykjavik
Iceland

Type of custody: Rule 17f-5 — Foreign Custodian
15.35 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.36 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Ho Chi Minh City
Vietnam

Type of custody: Rule 17f-5 — Foreign Custodian
15.37 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.38 Name: Euroclear Bank
Role: Sub-Custodian
Location: Dublin
Ireland

Type of custody: Rule 17f-5 — Foreign Custodian
15.39 Name: Bank Hapoalim B.M.
Role: Sub-Custodian
Location: Tel Aviv
Israel

Type of custody: Rule 17f-5 — Foreign Custodian
15.40 Name: Intesa Sanpaolo S.P.A.
Role: Sub-Custodian
Location: Milan
Italy

Type of custody: Rule 17f-5 — Foreign Custodian
15.41 Name: Societe Generale De Banques Cote D’Ivoire
Role: Sub-Custodian
Location: Abidjan
Benin

Type of custody: Rule 17f-5 — Foreign Custodian
15.42 Name: Mizuho Corporate Bank Ltd.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.43 Name: The Bank of Tokyo Mitsubishi Ufj Ltd.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.44 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Amman
Jordan

Type of custody: Rule 17f-5 — Foreign Custodian
15.45 Name: HSBC Bank Kazakhstan
Role: Sub-Custodian
Location: Almaty
Kazakhstan

Type of custody: Rule 17f-5 — Foreign Custodian
15.46 Name: Barclays Bank of Kenya Ltd.
Role: Sub-Custodian
Location: Nairobi
Kenya

Type of custody: Rule 17f-5 — Foreign Custodian
15.47 Name: Hansabanka
Role: Sub-Custodian
Location: Riga
Latvia

Type of custody: Rule 17f-5 — Foreign Custodian
15.48 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Beirut
Lebanon

Type of custody: Rule 17f-5 — Foreign Custodian
15.49 Name: Seb Bankas
Role: Sub-Custodian
Location: Vilnius
Lithuania

Type of custody: Rule 17f-5 — Foreign Custodian
15.50 Name: Banque Et Caisse D’Epargne De L’Etat
Role: Sub-Custodian
Location: Luxembourg
Luxembourg

Type of custody: Rule 17f-5 — Foreign Custodian
15.51 Name: HSBC Bank Malaysia Berhad
Role: Sub-Custodian
Location: Kuala Lumpur
Malaysia

Type of custody: Rule 17f-5 — Foreign Custodian
15.52 Name: HSBC Bank Malta plc
Role: Sub-Custodian
Location: Valletta
Malta

Type of custody: Rule 17f-5 — Foreign Custodian
15.53 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Port Louis
Mauritius

Type of custody: Rule 17f-5 — Foreign Custodian
15.54 Name: Banco Nacional De Mexico (Banamex)
Role: Sub-Custodian
Location: Mexico City
Mexico

Type of custody: Rule 17f-5 — Foreign Custodian
15.55 Name: Attijariwafa Bank
Role: Sub-Custodian
Location: Casablanca
Morocco

Type of custody: Rule 17f-5 — Foreign Custodian
15.56 Name: Standard Bank Namibia Ltd.
Role: Sub-Custodian
Location: Windhoek
Namibia

Type of custody: Rule 17f-5 — Foreign Custodian
15.57 Name: Banco De Chile
Role: Sub-Custodian
Location: Santiago
Chile

Type of custody: Rule 17f-5 — Foreign Custodian
15.58 Name: National Australia Bank of New Zealand
Role: Sub-Custodian
Location: Auckland
New Zealand

Type of custody: Rule 17f-5 — Foreign Custodian
15.59 Name: Ibtc Chartered Bank plc
Role: Sub-Custodian
Location: Lagos
Nigeria

Type of custody: Rule 17f-5 — Foreign Custodian
15.60 Name: DNB Nor Bank Asa
Role: Sub-Custodian
Location: Oslo
Norway

Type of custody: Rule 17f-5 — Foreign Custodian
15.61 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ruwi
Oman

Type of custody: Rule 17f-5 — Foreign Custodian
15.62 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.63 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ramallah
Palestine

Type of custody: Rule 17f-5 — Foreign Custodian
15.64 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Lima
Peru

Type of custody: Rule 17f-5 — Foreign Custodian
15.65 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Manila
Philippines

Type of custody: Rule 17f-5 — Foreign Custodian
15.66 Name: ING Bank Slaski, S.A.
Role: Sub-Custodian
Location: Katowice
Poland

Type of custody: Rule 17f-5 — Foreign Custodian
15.67 Name: Banco Comercial Portugues
Role: Sub-Custodian
Location: Lisbon
Portugal

Type of custody: Rule 17f-5 — Foreign Custodian
15.68 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Doha
Qatar

Type of custody: Rule 17f-5 — Foreign Custodian
15.69 Name: ING Bank N.V., Bucharest Branch
Role: Sub-Custodian
Location: Bucharest
Romania

Type of custody: Rule 17f-5 — Foreign Custodian
15.70 Name: Vneshtorgbank (Bank for Foreign Trade)
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.71 Name: Saudi British Bank
Role: Sub-Custodian
Location: Riyadh
Saudi Arabia

Type of custody: Rule 17f-5 — Foreign Custodian
15.72 Name: United Overseas Bank
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.73 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Bratislava
Slovak Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.74 Name: Unicredit Bank Slovenia D.D.
Role: Sub-Custodian
Location: Ljubljana
Slovenia

Type of custody: Rule 17f-5 — Foreign Custodian
15.75 Name: Standard Bank of South Africa
Role: Sub-Custodian
Location: Johannesburg
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.76 Name: Banco Itau Uruguay S.A.
Role: Sub-Custodian
Location: Montevideo
Uruguay

Type of custody: Rule 17f-5 — Foreign Custodian
15.77 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Seoul
South Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.78 Name: Santander Investment S.A.
Role: Sub-Custodian
Location: Madrid
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.79 Name: Banco Bilbao Vizcaya Argentaria
Role: Sub-Custodian
Location: Madrid
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.80 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Colombo
Sri Lanka

Type of custody: Rule 17f-5 — Foreign Custodian
15.81 Name: Standard Bank Swaziland Ltd.
Role: Sub-Custodian
Location: Mbabane
Swaziland

Type of custody: Rule 17f-5 — Foreign Custodian
15.82 Name: Skandinaviska Enskilda Banken
Role: Sub-Custodian
Location: Stockholm
Sweden

Type of custody: Rule 17f-5 — Foreign Custodian
15.83 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.84 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.85 Name: Citibank, N.A., Surcusal Venezuela
Role: Sub-Custodian
Location: Caracas
Venezuela

Type of custody: Rule 17f-5 — Foreign Custodian
15.86 Name: Republic Bank Ltd.
Role: Sub-Custodian
Location: Port of Spain
Trinidad & Tobago

Type of custody: Rule 17f-5 — Foreign Custodian
15.87 Name: Banque Internationale Arabe De Tunisie
Role: Sub-Custodian
Location: Tunis
Tunisia

Type of custody: Rule 17f-5 — Foreign Custodian
15.88 Name: Deutsche Bank
Role: Sub-Custodian
Location: Istanbul
Turkey

Type of custody: Rule 17f-5 — Foreign Custodian
15.89 Name: ING Bank Ukraine
Role: Sub-Custodian
Location: Kiev
Ukraine

Type of custody: Rule 17f-5 — Foreign Custodian
15.90 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Dubai
United Arab Emirates

Type of custody: Rule 17f-5 — Foreign Custodian
15.91 Name: BNP Paribas Securities Services
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.92 Name: DBS Bank Ltd.
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.93 Name: Bangkok Bank Ltd.
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.94 Name: Societe Generale De Banques Cote D’Ivoire
Role: Sub-Custodian
Location: Abidjan
Ivory Coast

Type of custody: Rule 17f-5 — Foreign Custodian
15.95 Name: Societe Generale De Banques Cote D’Ivoire
Role: Sub-Custodian
Location: Abidjan
Burkina Faso

Type of custody: Rule 17f-5 — Foreign Custodian
15.96 Name: First Caribbean International Securities Ltd.
Role: Sub-Custodian
Location: Kingston
Jamaica

Type of custody: Rule 17f-5 — Foreign Custodian
15.97 Name: Fortis Bank (Nederland) N.V.
Role: Sub-Custodian
Location: Amsterdam
Netherlands

Type of custody: Rule 17f-5 — Foreign Custodian
15.98 Name: The Bank of New York, London Branch
Role: Sub-Custodian
Location: Dublin
Ireland

Type of custody: Rule 17f-5 — Foreign Custodian
15.99 Name: The Bank of New York, London Branch
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
S 2: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Bank of America Corp.
IRS #: 04-3410012
Type of security owned: Equity
Value of securities owned at period end ($000s): 4,342
S 2: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 11,999
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 56,766
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 14,213
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 29,267
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 24,899
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 38,013
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 68,036
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 19,774
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 16,465
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 22,179
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 16,559
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 68,610

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 152,171
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 234,609

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 2: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? Yes
38. Total amount of redemption fees other than deferred or contingent
deferred sales loads collected from redemptions and repurchases of the
Registrant’s/Series’ shares during the period ($000s): 76
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 2: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 222
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 459
S 2: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 2: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 2: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Was the Registrant/Series a diversified investment company at the end of
the period? Yes
61. The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity: $0
62. Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities? Yes

The percentage of net assets in each type at period end:

Debt — Short-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
Repurchase agreements ....................... 0.0
State and Municipal – tax-free .............. 0.0
Bank certificates of deposit – domestic ..... 0.0
Bank certificates of deposit – foreign ...... 0.0
Bankers acceptances ......................... 0.0
Commercial paper – taxable .................. 0.0
Time deposits ............................... 0.0
Options ..................................... 0.0
All other ................................... 2.9

Debt — Intermediate & Long-Term Maturities
U.S. Treasury ............................... 0.0%
U.S. Government Agency ...................... 0.0
State and Municipal – tax-free .............. 0.0
Corporate ................................... 87.4
All other ................................... 6.1

Non-Debt
Investments other than debt securities ...... 2.0%
63. The dollar-weighted average portfolio maturity at period end in days or,
if longer than one year, in years (to one decimal place):
Days: 0
Years: 6.2
64. Is the timely payment of principal and interest on any of the
instruments listed in Item 62 insured or guaranteed by an entity other
than the issuer? Yes

Is the issuer of any instrument covered in Item 62 delinquent or in
default as to payment of principal or interest at period end? No
66. Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 2: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? No –
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? No –
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? No –
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? No –
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes No
Loaning portfolio securities? Yes No
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes No
Margin purchases? No –
Short selling? Yes No
S 2: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 362,696
Sales ($000s): 329,782

Monthly average Value of portfolio ($000s): 1,033,204

Percent turnover (lesser of Purchases or Sales, divided by Value): 32%
S 2: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 45,609
Net dividend income .............................................. 169
Account maintenance fees ......................................... –
Net other income ................................................. 858

Expenses ($000s)
Advisory fees .................................................... 3,146
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 414
Custodian fees ................................................... 10
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 2
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... 1
Bookkeeping fees paid to anyone performing this service .......... 196
Auditing fees .................................................... 40
Legal fees ....................................................... 24
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 222
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 101
Total expenses ................................................... 4,156

Expense reimbursements ($000s): 6

Net investment income ($000s): 42,486

Realized capital gains ($000s): 0
Realized capital losses ($000s): 11,987

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 32,158

Total income dividends for which the record date passed during the
period ($000s): 0

Total capital gains distributions for which the record date passed
during the period ($000s): 0
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 2: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 97
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 945,506
Preferred, conv. preferred and adjustable-rate preferred stock ... 21,155
Common stock ..................................................... 308
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 97,286
Receivables from portfolio instruments sold ...................... 10,452
Receivables from affiliated persons .............................. 81
Other receivables ................................................ 20,989
All other assets ................................................. 2
Total assets ..................................................... 1,095,876

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 12,122
Amounts owed to affiliated persons ............................... 672
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 1,794

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 1,081,288

Number of shares outstanding (000s): 130,680
Number of shares outstanding of a second class of shares (000s): 50,918

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 171

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 1,113,340
Series 3 ↑Information Common to All Funds/Series ↑List of 5 Funds/Series
7. Name: VIP Equity-Income Portfolio [ now
Equity-Income Portfolio ] — S#7716

Is this the final Form N-SAR filed for this Fund/Series? No
S 3: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.3 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.4 Name: Fidelity Research & Analysis Co. (Frac)
Role: Sub-Adviser
SEC File #: 801-28774
Location: Boston, MA
8.5 Name: Fidelity Investments Japan Ltd. (Fij)
Role: Sub-Adviser
Location: Tokyo
Japan
8.6 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
8.7 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
S 3: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
S 3: Custodian
15.1 Name: Northern Trust Co.
Role: Custodian
Location: Chicago, IL

Type of custody: Section 17(f)(1) — Bank
15.2 Name: The Bank of New York Co., Inc.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.3 Name: HSBC Bank Australia Ltd.
Role: Sub-Custodian
Location: Sydney
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
15.4 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Manama
Bahrain

Type of custody: Rule 17f-5 — Foreign Custodian
15.5 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Dhaka
Bangladesh

Type of custody: Rule 17f-5 — Foreign Custodian
15.6 Name: ING Belgium SA/NV
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.7 Name: Bank of Bermuda Ltd.
Role: Sub-Custodian
Location: Hamilton
Bermuda

Type of custody: Rule 17f-5 — Foreign Custodian
15.8 Name: Barclays Bank of Botswana Ltd.
Role: Sub-Custodian
Location: Gabarone
Botswana

Type of custody: Rule 17f-5 — Foreign Custodian
15.9 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Sao Paulo
Brazil

Type of custody: Rule 17f-5 — Foreign Custodian
15.10 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Sofia
Bulgaria

Type of custody: Rule 17f-5 — Foreign Custodian
15.11 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Buenos Aires
Argentina

Type of custody: Rule 17f-5 — Foreign Custodian
15.12 Name: Royal Bank of Canada
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.13 Name: Banco De Chile
Role: Sub-Custodian
Location: Santiago
Chile

Type of custody: Rule 17f-5 — Foreign Custodian
15.14 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Shanghai
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.15 Name: Cititrust Colombia
Role: Sub-Custodian
Location: Bogota
Colombia

Type of custody: Rule 17f-5 — Foreign Custodian
15.16 Name: Unicredit Bank Czech Republic A.S.
Role: Sub-Custodian
Location: Prague
Czech Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.17 Name: Nordea Bank Danmark A/S
Role: Sub-Custodian
Location: Taastrup
Denmark

Type of custody: Rule 17f-5 — Foreign Custodian
15.18 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Cairo
Egypt

Type of custody: Rule 17f-5 — Foreign Custodian
15.19 Name: Hansabank AS
Role: Sub-Custodian
Location: Tallinn
Estonia

Type of custody: Rule 17f-5 — Foreign Custodian
15.20 Name: Nordea Bank Finland plc
Role: Sub-Custodian
Location: Helsinki
Finland

Type of custody: Rule 17f-5 — Foreign Custodian
15.21 Name: BNP Paribas Securities Services S.A.
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.22 Name: Barclays Bank of Ghana Ltd.
Role: Sub-Custodian
Location: Accra
Ghana

Type of custody: Rule 17f-5 — Foreign Custodian
15.23 Name: Citibank International plc
Role: Sub-Custodian
Location: Athens
Greece

Type of custody: Rule 17f-5 — Foreign Custodian
15.24 Name: Citibank Zrt.
Role: Sub-Custodian
Location: Budapest
Hungary

Type of custody: Rule 17f-5 — Foreign Custodian
15.25 Name: Landsbanki Islands HF
Role: Sub-Custodian
Location: Reykjavik
Iceland

Type of custody: Rule 17f-5 — Foreign Custodian
15.26 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.27 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Ho Chi Minh City
Vietnam

Type of custody: Rule 17f-5 — Foreign Custodian
15.28 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.29 Name: Bank Leumi Le – Israel, B.M.
Role: Sub-Custodian
Location: Tel Aviv
Israel

Type of custody: Rule 17f-5 — Foreign Custodian
15.30 Name: BNP Paribas Securities Services S.A.
Role: Sub-Custodian
Location: Milan
Italy

Type of custody: Rule 17f-5 — Foreign Custodian
15.31 Name: Euroclear Bank
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.32 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.33 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Amman
Jordan

Type of custody: Rule 17f-5 — Foreign Custodian
15.34 Name: HSBC Bank Kazakhstan JSC
Role: Sub-Custodian
Location: Almaty
Kazakhstan

Type of custody: Rule 17f-5 — Foreign Custodian
15.35 Name: Barclays Bank of Kenya Ltd.
Role: Sub-Custodian
Location: Nairobi
Kenya

Type of custody: Rule 17f-5 — Foreign Custodian
15.36 Name: Hansabank AS
Role: Sub-Custodian
Location: Riga
Latvia

Type of custody: Rule 17f-5 — Foreign Custodian
15.37 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Beirut
Lebanon

Type of custody: Rule 17f-5 — Foreign Custodian
15.38 Name: Seb Bankas
Role: Sub-Custodian
Location: Vilnius
Lithuania

Type of custody: Rule 17f-5 — Foreign Custodian
15.39 Name: HSBC Bank Malaysia Berhad
Role: Sub-Custodian
Location: Kuala Lumpur
Malaysia

Type of custody: Rule 17f-5 — Foreign Custodian
15.40 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Port Louis
Mauritius

Type of custody: Rule 17f-5 — Foreign Custodian
15.41 Name: Banco Nacional de Mexico S.A.
Role: Sub-Custodian
Location: Colonia Santa Fe
Mexico

Type of custody: Rule 17f-5 — Foreign Custodian
15.42 Name: Attijariwafa Bank
Role: Sub-Custodian
Location: Casablanca
Morocco

Type of custody: Rule 17f-5 — Foreign Custodian
15.43 Name: Standard Bank Namibia Ltd.
Role: Sub-Custodian
Location: Windhoek
Namibia

Type of custody: Rule 17f-5 — Foreign Custodian
15.44 Name: Fortis Bank (Nederland) N.V.
Role: Sub-Custodian
Location: Amsterdam
Netherlands

Type of custody: Rule 17f-5 — Foreign Custodian
15.45 Name: Stanbic Ibtc Bank plc
Role: Sub-Custodian
Location: Faolomo, Ikoyi
Nigeria

Type of custody: Rule 17f-5 — Foreign Custodian
15.46 Name: Nordea Bank Norge Asa
Role: Sub-Custodian
Location: Oslo
Norway

Type of custody: Rule 17f-5 — Foreign Custodian
15.47 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Muscat
Oman

Type of custody: Rule 17f-5 — Foreign Custodian
15.48 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.49 Name: Citibank de Peru S.A.
Role: Sub-Custodian
Location: Lima
Peru

Type of custody: Rule 17f-5 — Foreign Custodian
15.50 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Makati City
Philippines

Type of custody: Rule 17f-5 — Foreign Custodian
15.51 Name: Bank Polska Kasa Opieki
Role: Sub-Custodian
Location: Warsaw
Poland

Type of custody: Rule 17f-5 — Foreign Custodian
15.52 Name: Banco Santander De Negocios Portugal
Role: Sub-Custodian
Location: Lisbon
Portugal

Type of custody: Rule 17f-5 — Foreign Custodian
15.53 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ramallah
Palestine

Type of custody: Rule 17f-5 — Foreign Custodian
15.54 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Bucharest
Romania

Type of custody: Rule 17f-5 — Foreign Custodian
15.55 Name: ING Bank (Eurasia) Zao
Role: Sub-Custodian
Location: Moscow
Russian Federation

Type of custody: Rule 17f-5 — Foreign Custodian
15.56 Name: DBS Bank Ltd.
Role: Sub-Custodian
Location: Comtech
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.57 Name: ING Bank N.V. Bratislava Branch
Role: Sub-Custodian
Location: Bratislava
Slovakia Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.58 Name: Unicredit Banca Slovenija D.D.
Role: Sub-Custodian
Location: Ljubljana
Slovenia

Type of custody: Rule 17f-5 — Foreign Custodian
15.59 Name: Standard Bank of South Africa Ltd.
Role: Sub-Custodian
Location: Johannesburg
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.60 Name: Banco Itau Uruguay S.A.
Role: Sub-Custodian
Location: Montevideo
Uruguay

Type of custody: Rule 17f-5 — Foreign Custodian
15.61 Name: BNP Paribas Securities Services S.A.
Role: Sub-Custodian
Location: Madrid
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.62 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Colombo
Sri Lanka

Type of custody: Rule 17f-5 — Foreign Custodian
15.63 Name: Standard Bank Swaziland Ltd.
Role: Sub-Custodian
Location: Mbabane
Swaziland

Type of custody: Rule 17f-5 — Foreign Custodian
15.64 Name: Skandinaviska Enskilda Banken AB
Role: Sub-Custodian
Location: Stockholm
Sweden

Type of custody: Rule 17f-5 — Foreign Custodian
15.65 Name: Bank of Taiwan
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.66 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.67 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Caracas
Venezuela

Type of custody: Rule 17f-5 — Foreign Custodian
15.68 Name: Republic Bank Ltd.
Role: Sub-Custodian
Location: Port of Spain
Trinidad & Tobago

Type of custody: Rule 17f-5 — Foreign Custodian
15.69 Name: Banque Internationale Arabe De Tunisie
Role: Sub-Custodian
Location: Tunis
Tunisia

Type of custody: Rule 17f-5 — Foreign Custodian
15.70 Name: Citibank A.S.
Role: Sub-Custodian
Location: Istanbul
Turkey

Type of custody: Rule 17f-5 — Foreign Custodian
15.71 Name: ING Bank Ukraine
Role: Sub-Custodian
Location: Kiev
Ukraine

Type of custody: Rule 17f-5 — Foreign Custodian
15.72 Name: Bank Austria Creditanstalt AG
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.73 Name: Northern Trust Co.
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.74 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Eschborn
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.75 Name: HSBC Bank Malta plc
Role: Sub-Custodian
Location: Valletta
Malta

Type of custody: Rule 17f-5 — Foreign Custodian
15.76 Name: Anz Banking Group Ltd.
Role: Sub-Custodian
Location: Wellington
New Zealand

Type of custody: Rule 17f-5 — Foreign Custodian
15.77 Name: Barclays Bank of Uganda Ltd.
Role: Sub-Custodian
Location: Kampala
Uganda

Type of custody: Rule 17f-5 — Foreign Custodian
15.78 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Dubai
United Arab Emirates

Type of custody: Rule 17f-5 — Foreign Custodian
15.79 Name: Northern Trust Co., London
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
15.80 Name: UBS AG
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.81 Name: Zagrebecka Banka D.D.
Role: Sub-Custodian
Location: Zagreb
Croatia

Type of custody: Rule 17f-5 — Foreign Custodian
15.82 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Doha
Qatar

Type of custody: Rule 17f-5 — Foreign Custodian
15.83 Name: Barclays Bank of Zambia Ltd.
Role: Sub-Custodian
Location: Lusaka
Zambia

Type of custody: Rule 17f-5 — Foreign Custodian
15.84 Name: Barclays Bank of Zimbabwe Ltd.
Role: Sub-Custodian
Location: Harare
Zimbabwe

Type of custody: Rule 17f-5 — Foreign Custodian
15.85 Name: Northern Trust Co., London
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
15.86 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Kowloon
Hong Kong

Type of custody: Rule 17f-5 — Foreign Custodian
15.87 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Safat
Kuwait

Type of custody: Rule 17f-5 — Foreign Custodian
15.88 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Seoul
South Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.89 Name: Raiffeisenzentralbank Osterreich AG
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.90 Name: ING Belgium SA/NV
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.91 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Seoul
Republick of Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.92 Name: Saudi British Bank
Role: Sub-Custodian
Location: Riyadh
Saudi Arabia

Type of custody: Rule 17f-5 — Foreign Custodian
15.93 Name: Unicredit Bank Serbia JSC
Role: Sub-Custodian
Location: Belgrade
Serbia

Type of custody: Rule 17f-5 — Foreign Custodian
15.94 Name: Saudi British Bank Securities Ltd.
Role: Sub-Custodian
Location: Riyadh
Saudi Arabia

Type of custody: Rule 17f-5 — Foreign Custodian
S 3: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Merrill Lynch & Co., Inc.
IRS #: 13-2740599
Type of security owned: Equity
Value of securities owned at period end ($000s): 25,958
25.2 Name: Morgan Stanley
IRS #: 13-2655998
Type of security owned: Equity
Value of securities owned at period end ($000s): 59,833
25.3 Name: Bank of America Corp.
IRS #: 04-3410012
Type of security owned: Equity
Value of securities owned at period end ($000s): 186,775
25.4 Name: Citigroup, Inc.
IRS #: 04-3531811
Type of security owned: Equity
Value of securities owned at period end ($000s): 144,623
25.5 Name: Goldman Sachs & Co.
IRS #: 13-5108880
Type of security owned: Equity
Value of securities owned at period end ($000s): 49,178
25.6 Name: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Type of security owned: Equity
Value of securities owned at period end ($000s): 40,407
25.7 Name: (See a prior Form N-SAR for who was...) Deleted
25.8 Name: JPMorgan Chase & Co.
IRS #: 13-3224016
Type of security owned: Equity
Value of securities owned at period end ($000s): 174,662
S 3: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 46,311
Reinvestment of dividends and distributions ................ 28
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 285,201
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 48,840
Reinvestment of dividends and distributions ................ 8,954
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 165,093
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 42,491
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 147,077
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 43,016
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 140,926
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 30,080
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 148,963
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 42,883
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 161,445

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 253,621
Reinvestment of dividends and distributions ................ 8,982
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,048,705

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 3: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? Yes
38. Total amount of redemption fees other than deferred or contingent
deferred sales loads collected from redemptions and repurchases of the
Registrant’s/Series’ shares during the period ($000s): 1
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 3: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 3,358
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 4,978
S 3: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 3: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 3: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? No
Growth? No
Growth and income? Yes
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 3: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 3: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 1,473,792
Sales ($000s): 2,129,353

Monthly average Value of portfolio ($000s): 9,734,391

Percent turnover (lesser of Purchases or Sales, divided by Value): 15%
S 3: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 3,226
Net dividend income .............................................. 127,539
Account maintenance fees ......................................... –
Net other income ................................................. 3,376

Expenses ($000s)
Advisory fees .................................................... 22,235
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 3,342
Custodian fees ................................................... 85
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 21
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... 121
Bookkeeping fees paid to anyone performing this service .......... 657
Auditing fees .................................................... 41
Legal fees ....................................................... 19
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 3,358
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 903
Total expenses ................................................... 30,782

Expense reimbursements ($000s): 27

Net investment income ($000s): 103,386

Realized capital gains ($000s): 368,356
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 2,006,067

Total income dividends for which the record date passed during the
period ($000s): 0

Total capital gains distributions for which the record date passed
during the period ($000s): 8,982
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 3: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 255
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 101,596
Preferred, conv. preferred and adjustable-rate preferred stock ... 215,668
Common stock ..................................................... 8,255,494
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 202,581
Receivables from portfolio instruments sold ...................... 16,463
Receivables from affiliated persons .............................. 652
Other receivables ................................................ 23,686
All other assets ................................................. 17
Total assets ..................................................... 8,816,412

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 5,054
Amounts owed to affiliated persons ............................... 4,668
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 187,167

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 8,619,523

Number of shares outstanding (000s): 283,893
Number of shares outstanding of a second class of shares (000s): 140,255

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 311

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 9,734,753
Series 4 ↑Information Common to All Funds/Series ↑List of 5 Funds/Series
7. Name: VIP Growth Portfolio [ now
Growth Portfolio ] — S#7717 ⇒ QVG2Q

Is this the final Form N-SAR filed for this Fund/Series? No
S 4: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.3 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
8.4 Name: Fidelity Investments Japan Ltd. (Fij)
Role: Sub-Adviser
Location: Tokyo
Japan
8.5 Name: Fidelity Research & Analysis Co. (Frac)
Role: Sub-Adviser
SEC File #: 801-28774
Location: Boston, MA
8.6 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.7 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
S 4: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
S 4: Custodian
15.1 Name: Mellon Bank, N.A.
Role: Custodian
Location: Pittsburgh, PA

Type of custody: Section 17(f)(1) — Bank
15.2 Name: The Bank of New York Co., Inc.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.3 Name: JPMorgan Chase Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.4 Name: Citibank
Role: Sub-Custodian
Location: Buenos Aires
Argentina

Type of custody: Rule 17f-5 — Foreign Custodian
15.5 Name: National Australia Bank Ltd.
Role: Sub-Custodian
Location: Melbourne
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
15.6 Name: Bank Austria Creditanstalt AG, Vienna
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.7 Name: Barclays Bank of Zimbabwe Ltd.
Role: Sub-Custodian
Location: Harare
Zimbabwe

Type of custody: Rule 17f-5 — Foreign Custodian
15.8 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Dhaka
Bangladesh

Type of custody: Rule 17f-5 — Foreign Custodian
15.9 Name: BNP Paribas Securities Services, Brussels
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.10 Name: Bank of Bermuda Ltd.
Role: Sub-Custodian
Location: Hamilton
Bermuda

Type of custody: Rule 17f-5 — Foreign Custodian
15.11 Name: Unicredit Bulbank, Sofia
Role: Sub-Custodian
Location: Sofia
Bulgaria

Type of custody: Rule 17f-5 — Foreign Custodian
15.12 Name: Barclays Bank of Botswana Ltd.
Role: Sub-Custodian
Location: Gabarone
Botswana

Type of custody: Rule 17f-5 — Foreign Custodian
15.13 Name: Skandinaviska Enskilda Banken (Seb)
Role: Sub-Custodian
Location: Copenhagen
Denmark

Type of custody: Rule 17f-5 — Foreign Custodian
15.14 Name: Cibc Mellon Global Securities Services Co.
Role: Sub-Custodian
Location: Toronto, Ontario
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.15 Name: Banco Itau Chile
Role: Sub-Custodian
Location: Santiago
Chile

Type of custody: Rule 17f-5 — Foreign Custodian
15.16 Name: HSBC Bank (China) Co. Ltd.
Role: Sub-Custodian
Location: Shanghai
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.17 Name: Unicredit Bank Serbia
Role: Sub-Custodian
Location: Belgrade
Serbia

Type of custody: Rule 17f-5 — Foreign Custodian
15.18 Name: Clearstream Banking, Luxembourg
Role: Sub-Custodian
Location: Senningerberg
Luxembourg

Type of custody: Rule 17f-5 — Foreign Custodian
15.19 Name: Cititrust Colombia S.A.
Role: Sub-Custodian
Location: Santa Fe De Bogota
Colombia

Type of custody: Rule 17f-5 — Foreign Custodian
15.20 Name: Zagrebecka Banka D.D.
Role: Sub-Custodian
Location: Zagreb
Croatia

Type of custody: Rule 17f-5 — Foreign Custodian
15.21 Name: Citibank Europe plc, Organizacni Slozka
Role: Sub-Custodian
Location: Prague
Czech Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.22 Name: Citibank, N.A., Egypt Branch
Role: Sub-Custodian
Location: Cairo
Egypt

Type of custody: Rule 17f-5 — Foreign Custodian
15.23 Name: Seb Pank AS
Role: Sub-Custodian
Location: Tallinn
Estonia

Type of custody: Rule 17f-5 — Foreign Custodian
15.24 Name: Euroclear Bank S.A.
Role: Sub-Custodian
Location: Brussels
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.25 Name: Nordea Bank Finland plc
Role: Sub-Custodian
Location: Helsinki
Finland

Type of custody: Rule 17f-5 — Foreign Custodian
15.26 Name: HSBC Bank Middle East
Role: Sub-Custodian
Location: Manama
Bahrain

Type of custody: Rule 17f-5 — Foreign Custodian
15.27 Name: BNP Paribas Securities Services
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.28 Name: Barclays Bank of Zambia Ltd.
Role: Sub-Custodian
Location: Lusaka
Zambia

Type of custody: Rule 17f-5 — Foreign Custodian
15.29 Name: BNP Paribas Securities Services S.A.
Role: Sub-Custodian
Location: Frankfurt
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.30 Name: Barclays Bank of Ghana Ltd.
Role: Sub-Custodian
Location: Accra
Ghana

Type of custody: Rule 17f-5 — Foreign Custodian
15.31 Name: HSBC Bank Middle East
Role: Sub-Custodian
Location: Amman
Jordan

Type of custody: Rule 17f-5 — Foreign Custodian
15.32 Name: Glitnir Banki HF
Role: Sub-Custodian
Location: Reykjavik
Iceland

Type of custody: Rule 17f-5 — Foreign Custodian
15.33 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Kowloon
Hong Kong

Type of custody: Rule 17f-5 — Foreign Custodian
15.34 Name: Unicredit Bank Hungary Zrt.
Role: Sub-Custodian
Location: Budapest
Hungary

Type of custody: Rule 17f-5 — Foreign Custodian
15.35 Name: HSBC, Mumbai
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.36 Name: HSBC, Jakarta
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.37 Name: HSBC Securities Services
Role: Sub-Custodian
Location: Dubai
United Arab Emirates

Type of custody: Rule 17f-5 — Foreign Custodian
15.38 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Tel-Aviv
Israel

Type of custody: Rule 17f-5 — Foreign Custodian
15.39 Name: BNP Paribas – Italian Branch
Role: Sub-Custodian
Location: Milan
Italy

Type of custody: Rule 17f-5 — Foreign Custodian
15.40 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.41 Name: SB HSBC Bank Kazakhstan JSC
Role: Sub-Custodian
Location: Almaty
Kazakhstan

Type of custody: Rule 17f-5 — Foreign Custodian
15.42 Name: Barclays Securities Services Kenya
Role: Sub-Custodian
Location: Nairobi
Kenya

Type of custody: Rule 17f-5 — Foreign Custodian
15.43 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Seoul
Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.44 Name: Midclear Sal
Role: Sub-Custodian
Location: Beirut
Lebanon

Type of custody: Rule 17f-5 — Foreign Custodian
15.45 Name: Citibank Berhad
Role: Sub-Custodian
Location: Kuala Lumpur
Malaysia

Type of custody: Rule 17f-5 — Foreign Custodian
15.46 Name: HSBC
Role: Sub-Custodian
Location: Port Louis
Mauritius

Type of custody: Rule 17f-5 — Foreign Custodian
15.47 Name: Banco Santander, S.A.
Role: Sub-Custodian
Location: Santa Fe
Mexico

Type of custody: Rule 17f-5 — Foreign Custodian
15.48 Name: Societe Generale Marocaine De Banques
Role: Sub-Custodian
Location: Casablanca
Morocco

Type of custody: Rule 17f-5 — Foreign Custodian
15.49 Name: Euroclear Nederland
Role: Sub-Custodian
Location: Amsterdam
Netherlands

Type of custody: Rule 17f-5 — Foreign Custodian
15.50 Name: National Nominees, Ltd.
Role: Sub-Custodian
Location: Auckland
New Zealand

Type of custody: Rule 17f-5 — Foreign Custodian
15.51 Name: Nordea Bank Norge Asa
Role: Sub-Custodian
Location: Oslo
Norway

Type of custody: Rule 17f-5 — Foreign Custodian
15.52 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ruwi
Oman

Type of custody: Rule 17f-5 — Foreign Custodian
15.53 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.54 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Sao Paulo
Brazil

Type of custody: Rule 17f-5 — Foreign Custodian
15.55 Name: Citibank Del Peru S.A.
Role: Sub-Custodian
Location: Lima
Peru

Type of custody: Rule 17f-5 — Foreign Custodian
15.56 Name: HSBC Securities Services
Role: Sub-Custodian
Location: Manila
Philippines

Type of custody: Rule 17f-5 — Foreign Custodian
15.57 Name: Biuro Uslug Powierniczych
Role: Sub-Custodian
Location: Warsaw
Poland

Type of custody: Rule 17f-5 — Foreign Custodian
15.58 Name: Banco Comercial Portugues
Role: Sub-Custodian
Location: Lisbon
Portugal

Type of custody: Rule 17f-5 — Foreign Custodian
15.59 Name: Unicredit Tiriac Bank S.A.
Role: Sub-Custodian
Location: Bucharest
Romania

Type of custody: Rule 17f-5 — Foreign Custodian
15.60 Name: Zao Commercial Bank Citibank
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.61 Name: DBS Bank Ltd.
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.62 Name: Unicredit Banka Slovenija D.D.
Role: Sub-Custodian
Location: Ljubljana
Slovenia

Type of custody: Rule 17f-5 — Foreign Custodian
15.63 Name: Santander Central Hispano Investments, S.A.
Role: Sub-Custodian
Location: Madrid
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.64 Name: HSBC, Colombo
Role: Sub-Custodian
Location: Colombo
Sri Lanka

Type of custody: Rule 17f-5 — Foreign Custodian
15.65 Name: Skandinaviska Enskilda Banken (Seb)
Role: Sub-Custodian
Location: Stockholm
Sweden

Type of custody: Rule 17f-5 — Foreign Custodian
15.66 Name: UBS AG, Zurich
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.67 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.68 Name: HSBC, Bangkok
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.69 Name: Citibank, A.S.
Role: Sub-Custodian
Location: Istanbul
Turkey

Type of custody: Rule 17f-5 — Foreign Custodian
15.70 Name: Barclays Bank of Uganda Ltd.
Role: Sub-Custodian
Location: Kampala
Uganda

Type of custody: Rule 17f-5 — Foreign Custodian
15.71 Name: Unicredit Bank Ltd.
Role: Sub-Custodian
Location: Kyiv
Ukraine

Type of custody: Rule 17f-5 — Foreign Custodian
15.72 Name: Efg Eurobank Ergasias S.A.
Role: Sub-Custodian
Location: Athens
Greece

Type of custody: Rule 17f-5 — Foreign Custodian
15.73 Name: Bankboston N.A.
Role: Sub-Custodian
Location: Montevideo
Uruguay

Type of custody: Rule 17f-5 — Foreign Custodian
15.74 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Caracas
Venezuela

Type of custody: Rule 17f-5 — Foreign Custodian
15.75 Name: Mellon Bank, N.A.
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
15.76 Name: HSBC Bank Middle East Ltd., Kuwait
Role: Sub-Custodian
Location: Kuwait City
Kuwait

Type of custody: Rule 17f-5 — Foreign Custodian
15.77 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Doha
Quatar

Type of custody: Rule 17f-5 — Foreign Custodian
15.78 Name: Societe Generale (Johannesburg Branch)
Role: Sub-Custodian
Location: Johannesburg
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.79 Name: As Seb Banka
Role: Sub-Custodian
Location: Kekavas Pag.
Latvia

Type of custody: Rule 17f-5 — Foreign Custodian
15.80 Name: Seb Bankas
Role: Sub-Custodian
Location: Vilnius
Lithuania

Type of custody: Rule 17f-5 — Foreign Custodian
15.81 Name: Unicredit Bank Slovakia A.S.
Role: Sub-Custodian
Location: Bratislava
Slovakia

Type of custody: Rule 17f-5 — Foreign Custodian
15.82 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Hanoi
Vietnam

Type of custody: Rule 17f-5 — Foreign Custodian
15.83 Name: Bank Internationale Arabe De Tunisie
Role: Sub-Custodian
Location: Tunis
Tunisia

Type of custody: Rule 17f-5 — Foreign Custodian
S 4: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: JPMorgan Chase & Co.
IRS #: 13-3224016
Type of security owned: Equity
Value of securities owned at period end ($000s): 24,326
S 4: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 59,545
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 184,231
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 42,359
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 100,100
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 90,993
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 124,587
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 46,846
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 683,734
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 29,156
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 90,806
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 23,872
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 173,483

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 292,771
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 1,356,941

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 4: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? Yes
38. Total amount of redemption fees other than deferred or contingent
deferred sales loads collected from redemptions and repurchases of the
Registrant’s/Series’ shares during the period ($000s): 17
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 4: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 1,419
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 3,381
S 4: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 4: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 4: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? Yes
Growth? No
Growth and income? No
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 4: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? Yes to both
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 4: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 5,328,175
Sales ($000s): 6,427,356

Monthly average Value of portfolio ($000s): 6,850,383

Percent turnover (lesser of Purchases or Sales, divided by Value): 78%
S 4: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 255
Net dividend income .............................................. 53,803
Account maintenance fees ......................................... –
Net other income ................................................. 1,915

Expenses ($000s)
Advisory fees .................................................... 19,113
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 2,390
Custodian fees ................................................... 163
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 15
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... 103
Bookkeeping fees paid to anyone performing this service .......... 586
Auditing fees .................................................... 34
Legal fees ....................................................... 14
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 1,419
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 638
Total expenses ................................................... 24,475

Expense reimbursements ($000s): 198

Net investment income ($000s): 31,696

Realized capital gains ($000s): 19,026
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 847,318

Total income dividends for which the record date passed during the
period ($000s): 0

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 4: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. –
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... 6,087,865
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 243,826
Receivables from portfolio instruments sold ...................... 152,931
Receivables from affiliated persons .............................. 321
Other receivables ................................................ 11,905
All other assets ................................................. 2,100
Total assets ..................................................... 6,498,948

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 53,526
Amounts owed to affiliated persons ............................... 3,713
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 269,994

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 6,171,715

Number of shares outstanding (000s): 114,329
Number of shares outstanding of a second class of shares (000s): 38,280

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 277

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 6,864,016
Series 5 ↑Information Common to All Funds/Series ↑List of 5 Funds/Series
7. Name: VIP Overseas Portfolio [ now
Overseas Portfolio ] — S#7720 ⇒ QVO2Q

Is this the final Form N-SAR filed for this Fund/Series? No
S 5: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.3 Name: Fidelity Research & Analysis Co. (Frac)
Role: Sub-Adviser
SEC File #: 801-28774
Location: Boston, MA
8.4 Name: Fidelity Investments Japan Ltd. (Fij)
Role: Sub-Adviser
Location: Tokyo
Japan
8.5 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
8.6 Name: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.7 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
S 5: Independent Public Accountant
13.1 Name: Pricewaterhousecoopers LLP
Location: Boston, MA
S 5: Custodian
15.1 Name: JPMorgan Chase Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.2 Name: The Bank of New York Co., Inc.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.3 Name: JPMorgan Chase Bank
Role: Sub-Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.4 Name: HSBC Bank Argentina S.A.
Role: Sub-Custodian
Location: Buenos Aires
Argentina

Type of custody: Rule 17f-5 — Foreign Custodian
15.5 Name: JPMorgan Chase Bank
Role: Sub-Custodian
Location: Sydney
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
15.6 Name: Bank Austria Creditanstalt AG
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.7 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Al Seef
Bahrain

Type of custody: Rule 17f-5 — Foreign Custodian
15.8 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Dhaka
Bangladesh

Type of custody: Rule 17f-5 — Foreign Custodian
15.9 Name: Fortis Bank (Nederland) N.V.
Role: Sub-Custodian
Location: Amsterdam
Belgium

Type of custody: Rule 17f-5 — Foreign Custodian
15.10 Name: The Bank of Bermuda Ltd.
Role: Sub-Custodian
Location: Hamilton
Bermuda

Type of custody: Rule 17f-5 — Foreign Custodian
15.11 Name: Barclays Bank of Botswana Ltd.
Role: Sub-Custodian
Location: Gaborone
Botswana

Type of custody: Rule 17f-5 — Foreign Custodian
15.12 Name: HSBC Bank Brasil S.A. Banco Multiplo
Role: Sub-Custodian
Location: Sao Paulo
Brazil

Type of custody: Rule 17f-5 — Foreign Custodian
15.13 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Sofia
Bulgaria

Type of custody: Rule 17f-5 — Foreign Custodian
15.14 Name: Canadian Imperial Bank of Commerce
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.15 Name: Royal Bank of Canada
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.16 Name: Banco De Chile
Role: Sub-Custodian
Location: Santiago
Chile

Type of custody: Rule 17f-5 — Foreign Custodian
15.17 Name: HSBC Bank (China) Co. Ltd.
Role: Sub-Custodian
Location: Shanghai
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.18 Name: Santander Investment Trust Colombia S.A.
Role: Sub-Custodian
Location: Bogota
Colombia

Type of custody: Rule 17f-5 — Foreign Custodian
15.19 Name: Privredna Banka Zagreb D.D.
Role: Sub-Custodian
Location: Zagreb
Croatia

Type of custody: Rule 17f-5 — Foreign Custodian
15.20 Name: Unicredit Bank Czech Republic A.S.
Role: Sub-Custodian
Location: Prague
Czech Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.21 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Ho Chi Minh City
Vietnam

Type of custody: Rule 17f-5 — Foreign Custodian
15.22 Name: Danske Bank A/S
Role: Sub-Custodian
Location: Copenhagen
Denmark

Type of custody: Rule 17f-5 — Foreign Custodian
15.23 Name: Marfin Popular Bank Public Co. Ltd.
Role: Sub-Custodian
Location: Nicosia
Cyprus

Type of custody: Rule 17f-5 — Foreign Custodian
15.24 Name: Hansabank
Role: Sub-Custodian
Location: Tallinn
Estonia

Type of custody: Rule 17f-5 — Foreign Custodian
15.25 Name: Skandinaviska Enskilda Banken AB (Publ)
Role: Sub-Custodian
Location: Helsinki
Finland

Type of custody: Rule 17f-5 — Foreign Custodian
15.26 Name: BNP Paribas Securities Services S.A.
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.27 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Caracas
Venezuela

Type of custody: Rule 17f-5 — Foreign Custodian
15.28 Name: Societe Generale
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.29 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Eschborn
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.30 Name: Barclays Bank of Ghana Ltd.
Role: Sub-Custodian
Location: Accra
Ghana

Type of custody: Rule 17f-5 — Foreign Custodian
15.31 Name: HSBC Bank plc
Role: Sub-Custodian
Location: Athens
Greece

Type of custody: Rule 17f-5 — Foreign Custodian
15.32 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Wan Chai
Hong Kong

Type of custody: Rule 17f-5 — Foreign Custodian
15.33 Name: Deutsche Bank Zrt.
Role: Sub-Custodian
Location: Budapest
Hungary

Type of custody: Rule 17f-5 — Foreign Custodian
15.34 Name: Glitnir Banki HF
Role: Sub-Custodian
Location: Reykjavik
Iceland

Type of custody: Rule 17f-5 — Foreign Custodian
15.35 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.36 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.37 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.38 Name: Bank of Ireland
Role: Sub-Custodian
Location: Dublin
Ireland

Type of custody: Rule 17f-5 — Foreign Custodian
15.39 Name: Barclays Bank of Zambia plc
Role: Sub-Custodian
Location: Lusaka
Zambia

Type of custody: Rule 17f-5 — Foreign Custodian
15.40 Name: Bank Leumi Le-Israel, B.M.
Role: Sub-Custodian
Location: Tel Aviv
Israel

Type of custody: Rule 17f-5 — Foreign Custodian
15.41 Name: Intesa Sanpaolo S.P.A.
Role: Sub-Custodian
Location: Milan
Italy

Type of custody: Rule 17f-5 — Foreign Custodian
15.42 Name: Societe Generale De Banques En Cote D’Lviore
Role: Sub-Custodian
Location: Abidjan
Ivory Coast

Type of custody: Rule 17f-5 — Foreign Custodian
15.43 Name: First Caribbean International Securities Ltd.
Role: Sub-Custodian
Location: Kingston
Jamaica

Type of custody: Rule 17f-5 — Foreign Custodian
15.44 Name: Mizuho Corporate Bank Ltd.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.45 Name: Bank of Tokyo-Mitsubishi Ufj Ltd.
Role: Sub-Custodian
Location: Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.46 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Western Amman
Jordan

Type of custody: Rule 17f-5 — Foreign Custodian
15.47 Name: SB HSBC Bank Kazakhstan JSC
Role: Sub-Custodian
Location: Almaty
Kazakhstan

Type of custody: Rule 17f-5 — Foreign Custodian
15.48 Name: Barclays Bank of Kenya Ltd.
Role: Sub-Custodian
Location: Nairobi
Kenya

Type of custody: Rule 17f-5 — Foreign Custodian
15.49 Name: Hansabanka
Role: Sub-Custodian
Location: Riga
Latvia

Type of custody: Rule 17f-5 — Foreign Custodian
15.50 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Beirut
Lebanon

Type of custody: Rule 17f-5 — Foreign Custodian
15.51 Name: AB Seb Bankas
Role: Sub-Custodian
Location: Vilnius
Lithuania

Type of custody: Rule 17f-5 — Foreign Custodian
15.52 Name: Fortis Banque Luxembourg S.A.
Role: Sub-Custodian
Location: Luxembourg
Luxembourg

Type of custody: Rule 17f-5 — Foreign Custodian
15.53 Name: HSBC Bank Malaysia Berhad
Role: Sub-Custodian
Location: Kuala Lumpur
Malaysia

Type of custody: Rule 17f-5 — Foreign Custodian
15.54 Name: Barclays Bank of Zimbabwe Ltd.
Role: Sub-Custodian
Location: Harare
Zimbabwe

Type of custody: Rule 17f-5 — Foreign Custodian
15.55 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Port Louis
Mauritius

Type of custody: Rule 17f-5 — Foreign Custodian
15.56 Name: Banco Nacional de Mexico, S.A.
Role: Sub-Custodian
Location: Mexico City
Mexico

Type of custody: Rule 17f-5 — Foreign Custodian
15.57 Name: Attijariwafa Bank S.A.
Role: Sub-Custodian
Location: Casablanca
Morocco

Type of custody: Rule 17f-5 — Foreign Custodian
15.58 Name: Standard Bank Namibia Ltd.
Role: Sub-Custodian
Location: Windhoek
Namibia

Type of custody: Rule 17f-5 — Foreign Custodian
15.59 Name: Kas Bank N.V.
Role: Sub-Custodian
Location: Amsterdam
Netherlands

Type of custody: Rule 17f-5 — Foreign Custodian
15.60 Name: National Australia Bank Ltd.
Role: Sub-Custodian
Location: Auckland
New Zealand

Type of custody: Rule 17f-5 — Foreign Custodian
15.61 Name: Stanbic Ibtc Chartered Bank plc
Role: Sub-Custodian
Location: Lagos
Nigeria

Type of custody: Rule 17f-5 — Foreign Custodian
15.62 Name: DNB Nor Bank Asa
Role: Sub-Custodian
Location: Oslo
Norway

Type of custody: Rule 17f-5 — Foreign Custodian
15.63 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ruwi
Oman

Type of custody: Rule 17f-5 — Foreign Custodian
15.64 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.65 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Manila
Philippines

Type of custody: Rule 17f-5 — Foreign Custodian
15.66 Name: Bank Handlowy W. Warszawie S.A.
Role: Sub-Custodian
Location: Warsaw
Poland

Type of custody: Rule 17f-5 — Foreign Custodian
15.67 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
15.68 Name: Banco Espirito Santo, S.A.
Role: Sub-Custodian
Location: Lisbon
Portugal

Type of custody: Rule 17f-5 — Foreign Custodian
15.69 Name: ING Bank N.V.
Role: Sub-Custodian
Location: Bucharest
Romania

Type of custody: Rule 17f-5 — Foreign Custodian
15.70 Name: J.P. Morgan Bank International LLC
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.71 Name: ING Bank (Eurasia) Zao
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.72 Name: HSBC Bank Malta P.L.C.
Role: Sub-Custodian
Location: Valletta
Malta

Type of custody: Rule 17f-5 — Foreign Custodian
15.73 Name: DBS Bank Ltd.
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.74 Name: Unicredit Bank Slovakia A.S.
Role: Sub-Custodian
Location: Bratislava
Slovak Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.75 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Cairo
Egypt

Type of custody: Rule 17f-5 — Foreign Custodian
15.76 Name: Unicredit Banka Slovenija D.D.
Role: Sub-Custodian
Location: Ljubljana
Slovenia

Type of custody: Rule 17f-5 — Foreign Custodian
15.77 Name: Firstrand Bank Ltd.
Role: Sub-Custodian
Location: Johannesburg
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.78 Name: Standard Chartered First Bank Korea Ltd.
Role: Sub-Custodian
Location: Seoul
South Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.79 Name: Santander Investment S.A.
Role: Sub-Custodian
Location: Madrid
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.80 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Colombo
Sri Lanka

Type of custody: Rule 17f-5 — Foreign Custodian
15.81 Name: Skandinaviska Enskilda Banken AB (Publ)
Role: Sub-Custodian
Location: Stockholm
Sweden

Type of custody: Rule 17f-5 — Foreign Custodian
15.82 Name: UBS AG
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.83 Name: JPMorgan Chase Bank
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.84 Name: Standard Chartered Bank (Thai) PCL
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.85 Name: Banque Internationale Arabe de Tunisie, S.A.
Role: Custodian
Location: Tunis Cedex
Tunisia

Type of custody: Rule 17f-5 — Foreign Custodian
15.86 Name: Citibank A.S.
Role: Sub-Custodian
Location: Istanbul
Turkey

Type of custody: Rule 17f-5 — Foreign Custodian
15.87 Name: ING Bank Ukraine
Role: Sub-Custodian
Location: Kiev
Ukraine

Type of custody: Rule 17f-5 — Foreign Custodian
15.88 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Dubai
United Arab Emirates

Type of custody: Rule 17f-5 — Foreign Custodian
15.89 Name: JPMorgan Chase Bank
Role: Sub-Custodian
Location: London
United Kingdom

Type of custody: Rule 17f-5 — Foreign Custodian
15.90 Name: Banco Itau Uruguay S.A.
Role: Sub-Custodian
Location: Montevideo
Uruguay

Type of custody: Rule 17f-5 — Foreign Custodian
15.91 Name: HSBC Bank (China) Co. Ltd.
Role: Sub-Custodian
Location: Shenzhen
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.92 Name: Citibank Del Peru S.A.
Role: Sub-Custodian
Location: Lima
Peru

Type of custody: Rule 17f-5 — Foreign Custodian
15.93 Name: J.P. Morgan AG
Role: Sub-Custodian
Location: Frankfurt
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.94 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Doha
Qatar

Type of custody: Rule 17f-5 — Foreign Custodian
15.95 Name: Unicredit Bank Srbija A.D.
Role: Sub-Custodian
Location: Belgrade
Serbia

Type of custody: Rule 17f-5 — Foreign Custodian
15.96 Name: HSBC Bank (Panama) S.A.
Role: Sub-Custodian
Location: Panama City
Panama

Type of custody: Rule 17f-5 — Foreign Custodian
15.97 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Safat
Kuwait

Type of custody: Rule 17f-5 — Foreign Custodian
15.98 Name: Sabb Securities Ltd.
Role: Sub-Custodian
Location: Riyadh
Saudi Arabia

Type of custody: Rule 17f-5 — Foreign Custodian
S 5: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Credit Suisse First Boston
IRS #: 13-5659485
Type of security owned: Equity
Value of securities owned at period end ($000s): 8,394
25.2 Name: UBS AG
IRS #: 13-3873456
Type of security owned: Equity
Value of securities owned at period end ($000s): 9,910
25.3 Name: Deutsche Bank AG
IRS #: 36-6843535
Type of security owned: Equity
Value of securities owned at period end ($000s): 8,603
S 5: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 37,538
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 76,510
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 30,529
Reinvestment of dividends and distributions ................ 348,490
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 42,541
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 32,803
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 52,792
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 33,274
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 273,936
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 24,023
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 56,412
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 25,313
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 71,083

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 183,480
Reinvestment of dividends and distributions ................ 348,490
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 573,274

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 5: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? Yes
38. Total amount of redemption fees other than deferred or contingent
deferred sales loads collected from redemptions and repurchases of the
Registrant’s/Series’ shares during the period ($000s): 42
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 5: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 1,269
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 1,504
S 5: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 5: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 5: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? No
Growth? Yes
Growth and income? No
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? Yes
69. Is the Registrant/Series an index Fund? No
S 5: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes No
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 5: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 1,128,010
Sales ($000s): 1,344,611

Monthly average Value of portfolio ($000s): 3,136,312

Percent turnover (lesser of Purchases or Sales, divided by Value): 36%
S 5: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. 13
Net dividend income .............................................. 60,449
Account maintenance fees ......................................... –
Net other income ................................................. 4,666

Expenses ($000s)
Advisory fees .................................................... 11,313
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 1,183
Custodian fees ................................................... 313
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 7
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... 10
Bookkeeping fees paid to anyone performing this service .......... 706
Auditing fees .................................................... 34
Legal fees ....................................................... 5
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 1,269
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 299
Total expenses ................................................... 15,139

Expense reimbursements ($000s): 347

Net investment income ($000s): 50,336

Realized capital gains ($000s): 88,199
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 503,355

Total income dividends for which the record date passed during the
period ($000s): 0

Total capital gains distributions for which the record date passed
during the period ($000s): 348,490
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 5: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 356
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... –
Common stock ..................................................... 2,856,192
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 205,047
Receivables from portfolio instruments sold ...................... –
Receivables from affiliated persons .............................. 427
Other receivables ................................................ 10,228
All other assets ................................................. 5
Total assets ..................................................... 3,072,255

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 1,854
Amounts owed to affiliated persons ............................... 2,271
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 195,330

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 2,872,800

Number of shares outstanding (000s): 82,806
Number of shares outstanding of a second class of shares (000s): 59,960

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 190

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 3,200,824
Series 6 ↑Information Common to All Funds/Series ↑List of 5 Funds/Series
7. Name: VIP Value Portfolio [ now
Value Portfolio ] — S#7721

Is this the final Form N-SAR filed for this Fund/Series? No
S 6: Investment Adviser
8.1 Name: Fidelity Management & Research Co. (FMR)
Role: Adviser
SEC File #: 801-07884
Location: Boston, MA
8.2 Name: Fidelity Management & Research (U.K.), Inc.
Role: Sub-Adviser
SEC File #: 801-28773
Location: London
England
8.3 Name: Fidelity Research & Analysis Co. (Frac)
Role: Sub-Adviser
SEC File #: 801-28774
Location: Boston, MA
8.4 Name: Fidelity Investments Japan Ltd. (Fij)
Role: Sub-Adviser
Location: Tokyo
Japan
8.5 Name: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.6 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
8.7 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
S 6: Independent Public Accountant
13.1 Name: Deloitte & Touche LLP
Location: Boston, MA
S 6: Custodian
15.1 Name: State Street Bank & Trust Co.
Role: Custodian
Location: Boston, MA

Type of custody: Section 17(f)(1) — Bank
15.2 Name: JPMorgan Chase Bank
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.3 Name: The Bank of New York Co., Inc.
Role: Custodian
Location: New York, NY

Type of custody: Section 17(f)(1) — Bank
15.4 Name: Bank Austria Creditanstalt
Role: Sub-Custodian
Location: Vienna
Austria

Type of custody: Rule 17f-5 — Foreign Custodian
15.5 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Kingdom of Bahrain
Bahrain

Type of custody: Rule 17f-5 — Foreign Custodian
15.6 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Dhaka
Bangladesh

Type of custody: Rule 17f-5 — Foreign Custodian
15.7 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.8 Name: Bank of Bermuda Ltd.
Role: Sub-Custodian
Location: Hamilton
Bermuda

Type of custody: Rule 17f-5 — Foreign Custodian
15.9 Name: Barclays Bank of Botswana Ltd.
Role: Sub-Custodian
Location: Gabarone
Botswana

Type of custody: Rule 17f-5 — Foreign Custodian
15.10 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Sao Paulo
Brazil

Type of custody: Rule 17f-5 — Foreign Custodian
15.11 Name: Unicredit Bulbank Ad
Role: Sub-Custodian
Location: Sofia
Bulgaria

Type of custody: Rule 17f-5 — Foreign Custodian
15.12 Name: RBC Dexia Investor Services Trust
Role: Sub-Custodian
Location: Toronto
Canada

Type of custody: Rule 17f-5 — Foreign Custodian
15.13 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Santiago
Chile

Type of custody: Rule 17f-5 — Foreign Custodian
15.14 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Shanghai
China

Type of custody: Rule 17f-5 — Foreign Custodian
15.15 Name: Cititrust Columbia S.A.
Role: Sub-Custodian
Location: Bogota
Colombia

Type of custody: Rule 17f-5 — Foreign Custodian
15.16 Name: Banco BCT S.A.
Role: Sub-Custodian
Location: San Jose
Costa Rica

Type of custody: Rule 17f-5 — Foreign Custodian
15.17 Name: Zagrebecka Banka D.D.
Role: Sub-Custodian
Location: Zagreb
Croatia

Type of custody: Rule 17f-5 — Foreign Custodian
15.18 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Fort Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.19 Name: Unicredit Bank Czech Republic, A.S.
Role: Sub-Custodian
Location: Praha
Czech Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.20 Name: Skandinaviska Enskilda Banken AB
Role: Sub-Custodian
Location: Copenhagen K
Denmark

Type of custody: Rule 17f-5 — Foreign Custodian
15.21 Name: Banco de La Produccion S.A.
Role: Custodian
Location: Quito
Ecuador

Type of custody: Rule 17f-5 — Foreign Custodian
15.22 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Cairo
Egypt

Type of custody: Rule 17f-5 — Foreign Custodian
15.23 Name: Seb Eesti Uhispank
Role: Sub-Custodian
Location: Tallin
Estonia

Type of custody: Rule 17f-5 — Foreign Custodian
15.24 Name: Skandinaviska Enskilda Banken AB
Role: Sub-Custodian
Location: Helsinki
Finland

Type of custody: Rule 17f-5 — Foreign Custodian
15.25 Name: Deutsche Bank
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.26 Name: Barclays Bank of Ghana Ltd.
Role: Sub-Custodian
Location: Accra
Ghana

Type of custody: Rule 17f-5 — Foreign Custodian
15.27 Name: HSBC Bank Kazakhstan
Role: Sub-Custodian
Location: Almaty
Kazakhstan

Type of custody: Rule 17f-5 — Foreign Custodian
15.28 Name: Standard Chartered Bank (Hong Kong) Ltd.
Role: Sub-Custodian
Location: Kwun Tong
Hong Kong

Type of custody: Rule 17f-5 — Foreign Custodian
15.29 Name: Unicredit Bank Hungary Zrt.
Role: Sub-Custodian
Location: Budapest
Hungary

Type of custody: Rule 17f-5 — Foreign Custodian
15.30 Name: Kaupthing Bank HF
Role: Sub-Custodian
Location: Reykjavik
Iceland

Type of custody: Rule 17f-5 — Foreign Custodian
15.31 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Fort Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.32 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Mumbai
India

Type of custody: Rule 17f-5 — Foreign Custodian
15.33 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Jakarta
Indonesia

Type of custody: Rule 17f-5 — Foreign Custodian
15.34 Name: HSBC Bank plc
Role: Sub-Custodian
Location: Dublin
Ireland

Type of custody: Rule 17f-5 — Foreign Custodian
15.35 Name: Bank Hapoalim B.M.
Role: Sub-Custodian
Location: Tel Aviv
Israel

Type of custody: Rule 17f-5 — Foreign Custodian
15.36 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Paris
France

Type of custody: Rule 17f-5 — Foreign Custodian
15.37 Name: Societe Generale De Banques En Cote D’Lviore
Role: Sub-Custodian
Location: Abidjan
Ivory Coast

Type of custody: Rule 17f-5 — Foreign Custodian
15.38 Name: Bank of Nova Scotia Jamaica Ltd.
Role: Sub-Custodian
Location: Kingston
Jamaica W.I.

Type of custody: Rule 17f-5 — Foreign Custodian
15.39 Name: Standard Chartered Bank (Japan) Ltd.
Role: Sub-Custodian
Location: Chiyoda-Ku, Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.40 Name: Mizuho Corporate Bank Ltd.
Role: Sub-Custodian
Location: Chou-Ku, Tokyo
Japan

Type of custody: Rule 17f-5 — Foreign Custodian
15.41 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Western Amman
Jordan

Type of custody: Rule 17f-5 — Foreign Custodian
15.42 Name: Barclays Bank of Kenya Ltd.
Role: Sub-Custodian
Location: Nairobi
Kenya

Type of custody: Rule 17f-5 — Foreign Custodian
15.43 Name: Standard Chartered First Bank Korea Ltd.
Role: Sub-Custodian
Location: Seoul
Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.44 Name: Seb Latvijas Unibanka
Role: Sub-Custodian
Location: Riga Raj
Latvia

Type of custody: Rule 17f-5 — Foreign Custodian
15.45 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Beirut
Lebanon

Type of custody: Rule 17f-5 — Foreign Custodian
15.46 Name: Seb Bankas
Role: Sub-Custodian
Location: Vilnius
Lithuania

Type of custody: Rule 17f-5 — Foreign Custodian
15.47 Name: Standard Chartered Bank Malaysia Berhad
Role: Sub-Custodian
Location: Kuala Lumpur
Malaysia

Type of custody: Rule 17f-5 — Foreign Custodian
15.48 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Port Louis
Mauritius

Type of custody: Rule 17f-5 — Foreign Custodian
15.49 Name: Banco Nacional de Mexico S.A.
Role: Sub-Custodian
Location: Santa Fe
Mexico

Type of custody: Rule 17f-5 — Foreign Custodian
15.50 Name: Attijariwafa Bank
Role: Sub-Custodian
Location: Casablanca
Morocco

Type of custody: Rule 17f-5 — Foreign Custodian
15.51 Name: Standard Bank Namibia Ltd.
Role: Sub-Custodian
Location: Windhoek
Namibia

Type of custody: Rule 17f-5 — Foreign Custodian
15.52 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Auckland
New Zealand

Type of custody: Rule 17f-5 — Foreign Custodian
15.53 Name: Barclays Bank plc Mauritius
Role: Sub-Custodian
Location: Lagos
Nigeria

Type of custody: Rule 17f-5 — Foreign Custodian
15.54 Name: Skandinaviska Enskilda Banken AB
Role: Sub-Custodian
Location: Oslo
Norway

Type of custody: Rule 17f-5 — Foreign Custodian
15.55 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Muscat
Oman

Type of custody: Rule 17f-5 — Foreign Custodian
15.56 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.57 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Ramallah, West Bank
Palestine

Type of custody: Rule 17f-5 — Foreign Custodian
15.58 Name: HSBC Bank (Panama) S.A.
Role: Sub-Custodian
Location: Panama City
Republic of Panama

Type of custody: Rule 17f-5 — Foreign Custodian
15.59 Name: Citibank Del Peru S.A.
Role: Sub-Custodian
Location: Lima
Peru

Type of custody: Rule 17f-5 — Foreign Custodian
15.60 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Makati City
Philippines

Type of custody: Rule 17f-5 — Foreign Custodian
15.61 Name: Bank Polska Kasa Opieki Spolka Akcyjna
Role: Sub-Custodian
Location: Warsaw
Poland

Type of custody: Rule 17f-5 — Foreign Custodian
15.62 Name: Citibank Taipei
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.63 Name: Citibank, N.A.
Role: Sub-Custodian
Location: San Juan
Puerto Rico

Type of custody: Rule 17f-5 — Foreign Custodian
15.64 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Doha
Qatar

Type of custody: Rule 17f-5 — Foreign Custodian
15.65 Name: Unicredit Tiriac Bank S.A.
Role: Sub-Custodian
Location: Bucharest
Romania

Type of custody: Rule 17f-5 — Foreign Custodian
15.66 Name: Zao Citibank
Role: Sub-Custodian
Location: Moscow
Russia

Type of custody: Rule 17f-5 — Foreign Custodian
15.67 Name: DBS Bank Ltd.
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.68 Name: Unicredit Bank Slovakia A.S.
Role: Sub-Custodian
Location: Bratislava
Slovak Republic

Type of custody: Rule 17f-5 — Foreign Custodian
15.69 Name: Unicredit Bank Slovenija D.D. Ljubljana
Role: Sub-Custodian
Location: Ljubljana
Slovenia

Type of custody: Rule 17f-5 — Foreign Custodian
15.70 Name: Standard Bank of South Africa Ltd.
Role: Sub-Custodian
Location: Johannesburg
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.71 Name: Deutsche Bank S.A.E.
Role: Sub-Custodian
Location: Barcelona
Spain

Type of custody: Rule 17f-5 — Foreign Custodian
15.72 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Colombo
Sri Lanka

Type of custody: Rule 17f-5 — Foreign Custodian
15.73 Name: Standard Bank Swaziland Ltd.
Role: Sub-Custodian
Location: Mbabane
Swaziland

Type of custody: Rule 17f-5 — Foreign Custodian
15.74 Name: Skandinaviska Enskilda Banken AB
Role: Sub-Custodian
Location: Stockholm
Sweden

Type of custody: Rule 17f-5 — Foreign Custodian
15.75 Name: Credit Suisse
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.76 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Karachi
Pakistan

Type of custody: Rule 17f-5 — Foreign Custodian
15.77 Name: Standard Chartered Bank
Role: Sub-Custodian
Location: Bangkok
Thailand

Type of custody: Rule 17f-5 — Foreign Custodian
15.78 Name: Republic Bank Ltd.
Role: Sub-Custodian
Location: Port of Spain
Trinidad & Tobago

Type of custody: Rule 17f-5 — Foreign Custodian
15.79 Name: Banque Internationale Arabe De Tunisie
Role: Sub-Custodian
Location: Tunis
Tunisia

Type of custody: Rule 17f-5 — Foreign Custodian
15.80 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Amsterdam
Netherlands

Type of custody: Rule 17f-5 — Foreign Custodian
15.81 Name: Unicredit Bank T.Z.O.V.
Role: Sub-Custodian
Location: Kiev
Ukraine

Type of custody: Rule 17f-5 — Foreign Custodian
15.82 Name: HSBC Bank Middle East Ltd.
Role: Sub-Custodian
Location: Dubai
United Arab Emirates

Type of custody: Rule 17f-5 — Foreign Custodian
15.83 Name: State Street Bank & Trust Co., U.K.
Role: Sub-Custodian
Location: Edinburgh
Scotland

Type of custody: Rule 17f-5 — Foreign Custodian
15.84 Name: Banco Itau Uruguay
Role: Sub-Custodian
Location: Montevideo
Uruguay

Type of custody: Rule 17f-5 — Foreign Custodian
15.85 Name: Citibank, N.A.
Role: Sub-Custodian
Location: Caracas
Venezuela

Type of custody: Rule 17f-5 — Foreign Custodian
15.86 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Ho Chi Minh City
Vietnam

Type of custody: Rule 17f-5 — Foreign Custodian
15.87 Name: Barclays Bank of Zambia Ltd.
Role: Sub-Custodian
Location: Lusaka
Zambia

Type of custody: Rule 17f-5 — Foreign Custodian
15.88 Name: Barclays Bank of Zimbabwe Ltd.
Role: Sub-Custodian
Location: Harare
Zimbabwe

Type of custody: Rule 17f-5 — Foreign Custodian
15.89 Name: Nedbank Ltd.
Role: Sub-Custodian
Location: Braamfontein
South Africa

Type of custody: Rule 17f-5 — Foreign Custodian
15.90 Name: Barclays Bank of Uganda Ltd.
Role: Sub-Custodian
Location: Kampala
Uganda

Type of custody: Rule 17f-5 — Foreign Custodian
15.91 Name: United Overseas Bank Ltd.
Role: Sub-Custodian
Location: Singapore
Singapore

Type of custody: Rule 17f-5 — Foreign Custodian
15.92 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Eschborn
Germany

Type of custody: Rule 17f-5 — Foreign Custodian
15.93 Name: Deutsche Bank AG
Role: Sub-Custodian
Location: Seoul
Korea

Type of custody: Rule 17f-5 — Foreign Custodian
15.94 Name: HSBC Taipei
Role: Sub-Custodian
Location: Taipei
Taiwan

Type of custody: Rule 17f-5 — Foreign Custodian
15.95 Name: Citigroup Pty. Ltd.
Role: Sub-Custodian
Location: Melbourne
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
15.96 Name: UBS AG
Role: Sub-Custodian
Location: Zurich
Switzerland

Type of custody: Rule 17f-5 — Foreign Custodian
15.97 Name: Citibank A.S.
Role: Sub-Custodian
Location: Istanbul
Turkey

Type of custody: Rule 17f-5 — Foreign Custodian
15.98 Name: HSBC Bank plc
Role: Sub-Custodian
Location: London
England

Type of custody: Rule 17f-5 — Foreign Custodian
15.99 Name: Hongkong & Shanghai Banking Corp.
Role: Sub-Custodian
Location: Sydney
Australia

Type of custody: Rule 17f-5 — Foreign Custodian
S 6: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers
24. At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities? Yes

25.
The brokers or dealers, or their parents (issuers):
25.1 Name: Bank of America Corp.
IRS #: 04-3410012
Type of security owned: Equity
Value of securities owned at period end ($000s): 373
25.2 Name: Citigroup, Inc.
IRS #: 04-3531811
Type of security owned: Equity
Value of securities owned at period end ($000s): 233
25.3 Name: JPMorgan Chase & Co.
IRS #: 13-3224016
Type of security owned: Equity
Value of securities owned at period end ($000s): 710
25.4 Name: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Type of security owned: Equity
Value of securities owned at period end ($000s): 807
S 6: Sales and Repurchases
28. Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
1st Month of period: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,510
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,690
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 4,393
Reinvestment of dividends and distributions ................ 3,606
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,081
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 3,215
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,174
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 4,778
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,220
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,584
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 2,438
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 2,119
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,083

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 23,599
Reinvestment of dividends and distributions ................ 3,606
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 20,686

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s): 0
S 6: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance)
29. Was a front-end sales load deducted from any share sales during the
period? No
37. Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period? No
39. Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period? No
S 6: Payment Plan for the Distribution of Fund Shares
40. During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1? Yes
41. During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan? Yes
42. For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid (%)
Advertising ............................................................ –
Printing & mailing of prospectuses to other than current shareholders .. –
Payments to underwriters ............................................... 100
Payments to brokers or dealers ......................................... –
Direct payments to sales personnel ..................................... –
Payments to banks and savings & loans .................................. –
Other uses, including payments to its Investment Adviser separate
from the advisory fee ................................................ –
Unallocated payments made for a combination of such services ........... –
43. Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s): 13
44. If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s): 6
S 6: Advisory Fee
49. Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income? No
50. Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets? No
51. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance? No
52. Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants? Yes
53. Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws? Yes

Was the limitation that applied during the period based on...
Assets? Yes
Income? No
S 6: Miscellaneous Info
55. Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
Overdrafts? No
Bank loans? No
56. During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies? Yes
57. Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend? No
S 6: Classification and Asset Allocation
58. Is the Registrant/Series a Separate Account of an insurance company? No
59. Is the Registrant/Series a management investment company? Yes
60. Was the Registrant/Series a diversified investment company at any time
during the period? Yes

Which best describes its primary investment objective:

Aggressive capital appreciation? No
Capital appreciation? Yes
Growth? No
Growth and income? No
Income? No
Total return? No
67. Is the Registrant/Series a “balanced” Fund? No
68. Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
Engaged primarily in production or distribution of precious metals? No
Located primarily in countries other than the United States? No
69. Is the Registrant/Series an index Fund? No
S 6: Investment Practices
70. Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity Permitted Engaged In
Writing or investing in repurchase agreements? Yes to both
Writing or investing in options on equities? Yes No
Writing or investing in options on debt securities? Yes No
Writing or investing in options on stock indices? Yes No
Writing or investing in interest rate futures? Yes No
Writing or investing in stock index futures? Yes No
Writing or investing in options on futures? Yes No
Writing or investing in options on stock index futures? Yes No
Writing or investing in other commodity futures? No –
Investments in restricted securities? Yes to both
Investments in shares of other investment companies? Yes to both
Investments in securities of foreign issuers? Yes to both
Currency exchange transactions? Yes to both
Loaning portfolio securities? Yes to both
Borrowing of money? Yes No
Purchases/sales by certain exempted affiliated persons? Yes to both
Margin purchases? No –
Short selling? Yes No
S 6: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 30,761
Sales ($000s): 24,995

Monthly average Value of portfolio ($000s): 118,853

Percent turnover (lesser of Purchases or Sales, divided by Value): 21%
S 6: Financial Info — Income and Expenses
72. The number of months covered by the values in Items 72 and 73: 6

Income ($000s)
Net interest income .............................................. –
Net dividend income .............................................. 1,085
Account maintenance fees ......................................... –
Net other income ................................................. 54

Expenses ($000s)
Advisory fees .................................................... 336
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 73
Custodian fees ................................................... 28
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. –
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 26
Auditing fees .................................................... 22
Legal fees ....................................................... –
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 13
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 12
Total expenses ................................................... 510

Expense reimbursements ($000s): 0

Net investment income ($000s): 629

Realized capital gains ($000s): 1,315
Realized capital losses ($000s): 0

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 16,413

Total income dividends for which the record date passed during the
period ($000s): 0

Total capital gains distributions for which the record date passed
during the period ($000s): 3,606
73. Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income: $0.0000

Distribution of capital gains: $0.0000
Other distributions: $0.0000
S 6: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 9
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ –
Preferred, conv. preferred and adjustable-rate preferred stock ... 1,398
Common stock ..................................................... 111,566
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 1,997
Receivables from portfolio instruments sold ...................... 942
Receivables from affiliated persons .............................. 8
Other receivables ................................................ 203
All other assets ................................................. 1
Total assets ..................................................... 116,124

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 778
Amounts owed to affiliated persons ............................... 74
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 1,193

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 114,079

Number of shares outstanding (000s): 9,270
Number of shares outstanding of a second class of shares (000s): 880

Net Asset Value (NAV) per share (to nearest cent): $0.00

Total number of shareholder accounts: 19

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 120,687
Signature ↑Top of Form N-SAR
/s/ Kenneth Robins
Name: Kenneth Robins
Title: President & Treasurer

↑Top

Filing Submission 0000722574-08-000188 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Variable Insurance Products Fund – ‘NSAR-A’ for 6/30/08

On: Friday, 8/29/08, at 4:52pm ET · Effective: 8/29/08 · For: 6/30/08 · Accession #: 722574-8-188 · File #: 811-03329

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Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40Filing Table of Contents

‘NSAR-A’ — Semi-Annual Report by an Investment Company

Semi-Annual Report by an Investment Company — Form N-SAR — ICA’40
Filing Table of Contents