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

On: Friday, 8/29/08, at 4:15pm ET · Effective: 8/29/08 · For: 6/30/08 · Accession #: 24238-8-46 · File #: 811-07205

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

 8/29/08  Variable Insurance Products III   NSAR-A      6/30/08    3:132K                                   Fidelity Contrafund
          → Balanced Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2 (QBA2Q)
          → Dynamic Capital Appreciation Portfolio ⇒ Initial Class — Investor class — Service Class — Service Class 2
          → Growth & Income Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2 (QGI2Q)
          → Growth Opportunities Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2
          → Growth Strategies Portfolio ⇒ Initial Class — Investor Class — Service Class — Service Class 2
          → Mid Cap Portfolio ⇒ Initial Class (XFBRX) — Investor Class — Service Class (XFBSX) — Service Class 2
          → Value Strategies 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          109    446K 
 2: EX-99.77C VOTES  Voting Matters                                 HTML     17K 
 3: EX-99.77Q1 OTHR EXHB  Declaration of Trust                      HTML      7K

‘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 III — 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: 927384
SEC File #: 811-07205

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: 7
The number of separate Funds/Series (portfolios) reported here: 7...

N-SAR S# Fund/Series — Filings for F/S#… ⇒ Symbols
↓Information Common to All
↓ Series 9: VIP Aggressive Growth Portfolio [ renamed
Growth Strategies Portfolio ] — S#7729
↓ Series 4: VIP Balanced Portfolio [ now
Balanced Portfolio ] — S#7730 ⇒ QBA2Q
↓ Series 10: VIP Dynamic Capital Appreciation Portfolio [ now
Dynamic Capital Appreciation Portfolio ] — S#7731
↓ Series 7: VIP Growth & Income Portfolio [ now
Growth & Income Portfolio ] — S#7732 ⇒ QGI2Q
↓ Series 5: VIP Growth Opportunities Portfolio [ now
Growth Opportunities Portfolio ] — S#7733
↓ Series 8: VIP Mid Cap Portfolio [ now
Mid Cap Portfolio ] — S#7734 ⇒ XFBRX & XFBSX
↓ Series 11: VIP Value Strategies Portfolio [ now
Value Strategies Portfolio ] — S#7735
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 7 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 Brokerage Services LLC
SEC File #: 008-23292
14.2 Name: Fidelity Distributors Corp.
SEC File #: 008-08775
14.3 Name: National Financial Services LLC
SEC File #: 008-26740
14.4 Name: Fidelity Investments Canada Ltd.
14.5 Name: Fidelity Brokerage Services Japan LLC
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: Credit Suisse Group
IRS #: 13-5659485
Commissions paid ($000s): 1,320
20.2 Broker: Merrill Lynch & Co., Inc.
IRS #: 13-2740599
Commissions paid ($000s): 1,132
20.3 Broker: Goldman Sachs Group, Inc.
IRS #: 13-5108880
Commissions paid ($000s): 1,030
20.4 Broker: UBS AG
IRS #: 13-3873456
Commissions paid ($000s): 1,016
20.5 Broker: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Commissions paid ($000s): 863
20.6 Broker: Citigroup, Inc.
IRS #: 04-3531811
Commissions paid ($000s): 736
20.7 Broker: Morgan Stanley
IRS #: 13-2655998
Commissions paid ($000s): 605
20.8 Broker: JPMorgan Chase & Co.
IRS #: 13-3224016
Commissions paid ($000s): 581
20.9 Broker: Investment Technology Group, Inc.
IRS #: 95-2848406
Commissions paid ($000s): 495
20.10 Broker: Deutsche Bank AG
IRS #: 36-6843535
Commissions paid ($000s): 428
21. Total brokerage commissions paid by the Registrant during the period:
Aggregate paid ($000s): 11,675
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): 3,212,025
Registrant’s sales ($000s): 2,643,179
22.2 Entity: Fidelity Contrafund
IRS #: 04-6056833
Registrant’s purchases ($000s): 69,630
Registrant’s sales ($000s): 18,194
22.3 Entity: Fidelity Balanced Fund
IRS #: 04-2935664
Registrant’s purchases ($000s): 5,908
Registrant’s sales ($000s): 70,777
22.4 Entity: Vip Investment Grade Central Fund
IRS #: 20-4999176
Registrant’s purchases ($000s): 64,834
22.5 Entity: Vip Contrafund Portfolio
IRS #: 04-3247643
Registrant’s purchases ($000s): 27,443
Registrant’s sales ($000s): 30,278
22.6 Entity: Fidelity Growth Co. Fund
IRS #: 04-2778701
Registrant’s purchases ($000s): 24,526
Registrant’s sales ($000s): 24,178
22.7 Entity: Fidelity Advisor Capital Development Fund
IRS #: 04-6538289
Registrant’s purchases ($000s): 14,999
Registrant’s sales ($000s): 29,869
22.8 Entity: Fidelity OTC Portfolio
IRS #: 04-2847184
Registrant’s purchases ($000s): 14,600
Registrant’s sales ($000s): 22,709
22.9 Entity: Fidelity Advisor Mid Cap Fund
IRS #: 04-3292578
Registrant’s purchases ($000s): 16,910
Registrant’s sales ($000s): 19,747
22.10 Entity: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Registrant’s purchases ($000s): 29,080
Registrant’s sales ($000s): 6,069
23. Total purchase/sale transactions by the Registrant during the period:
Aggregate purchases ($000s): 4,516,289
Aggregate sales ($000s): 3,283,589
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: Advisory Fee
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 4 ↑Information Common to All Funds/Series ↑List of 7 Funds/Series
7. Name: VIP Balanced Portfolio [ now
Balanced Portfolio ] — S#7730 ⇒ QBA2Q

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: 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
8.8 Name: Fidelity Investments Money Management, Inc.
Role: Sub-Adviser
SEC File #: 801-34590
Location: Merrimack, NH
S 4: Independent Public Accountant
13.1 Name: Deloitte & Touche LLP
Location: Boston, MA
S 4: 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 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: Bank of America Corp.
IRS #: 04-3410012
Type of security owned: Equity
Value of securities owned at period end ($000s): 6,352
25.2 Name: Citigroup, Inc.
IRS #: 04-3531811
Type of security owned: Equity
Value of securities owned at period end ($000s): 1,896
25.3 Name: Goldman Sachs Group, Inc.
IRS #: 13-5108880
Type of security owned: Equity
Value of securities owned at period end ($000s): 4,388
25.4 Name: JPMorgan Chase & Co.
IRS #: 13-3224016
Type of security owned: Equity
Value of securities owned at period end ($000s): 8,035
25.5 Name: Lehman Brothers Holdings, Inc.
IRS #: 13-2933198
Type of security owned: Equity
Value of securities owned at period end ($000s): 6,426
25.6 Name: Morgan Stanley
IRS #: 13-2655998
Type of security owned: Equity
Value of securities owned at period end ($000s): 487
25.7 Name: (See a prior Form N-SAR for who was...) Deleted
25.8 Name: (See a prior Form N-SAR for who was...) Deleted
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) ............................ 74,220
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 11,172
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 116,658
Reinvestment of dividends and distributions ................ 29,490
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 4,236
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 95,560
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,959
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 78,437
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,300
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 69,801
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 3,829
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 56,662
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 5,459

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 491,338
Reinvestment of dividends and distributions ................ 29,490
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 35,955

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
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load 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 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): 154
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): 103
S 4: 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
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

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? 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? 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? Yes
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 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 4: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 605,013
Sales ($000s): 209,779

Monthly average Value of portfolio ($000s): 950,899

Percent turnover (lesser of Purchases or Sales, divided by Value): 22%
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 .............................................. 250
Net dividend income .............................................. 4,490
Account maintenance fees ......................................... –
Net other income ................................................. 8,696

Expenses ($000s)
Advisory fees .................................................... 2,059
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 617
Custodian fees ................................................... 75
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 2
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... –
Bookkeeping fees paid to anyone performing this service .......... 214
Auditing fees .................................................... 26
Legal fees ....................................................... 1
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 154
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 90
Total expenses ................................................... 3,238

Expense reimbursements ($000s): 10

Net investment income ($000s): 10,208

Realized capital gains ($000s): 0
Realized capital losses ($000s): 388

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 69,955

Total income dividends for which the record date passed during the
period ($000s): 506
Dividends for a second class of shares ($000s): 84

Total capital gains distributions for which the record date passed
during the period ($000s): 28,901
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 4: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 18
Repurchase agreements ............................................ –
Short-term debt securities, other than repurchase agreements ..... –
Long-term debt securities, including convertible debt ............ 1,347
Preferred, conv. preferred and adjustable-rate preferred stock ... 7,155
Common stock ..................................................... 755,131
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 439,026
Receivables from portfolio instruments sold ...................... 8,801
Receivables from affiliated persons .............................. 1,417
Other receivables ................................................ 4,840
All other assets ................................................. 13
Total assets ..................................................... 1,217,748

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 8,467
Amounts owed to affiliated persons ............................... 598
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 12,860

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 1,195,823

Number of shares outstanding (000s): 74,413
Number of shares outstanding of a second class of shares (000s): 9,467

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

Total number of shareholder accounts: 59

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 1,014,051
Series 5 ↑Information Common to All Funds/Series ↑List of 7 Funds/Series
7. Name: VIP Growth Opportunities Portfolio [ now
Growth Opportunities Portfolio ] — S#7733

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: FMR Co., Inc.
Role: Sub-Adviser
SEC File #: 801-03447
Location: Boston, MA
8.6 Name: Fidelity Intl Investment Advisors (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.7 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
S 5: Independent Public Accountant
13.1 Name: Deloitte & Touche LLP
Location: Boston, MA
S 5: 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 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? No
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) ............................ 9,396
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 25,006
2nd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 6,012
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 14,973
3rd Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 8,111
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 21,348
4th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 9,713
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 9,950
5th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 14,284
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 11,283
6th Month:
Total NAV of shares sold:
New sales (including exchanges) ............................ 11,859
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 16,769

Total of all months: ($000s)
Total NAV of shares sold:
New sales (including exchanges) ............................ 59,375
Reinvestment of dividends and distributions ................ –
Other ...................................................... –
Total NAV of shares redeemed & repurchased (inc. exchanges) .. 99,329

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
34. Did the Registrant/Series impose a deferred or contingent deferred sales
load 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 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): 183
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): 267
S 5: 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
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? Yes
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? No
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 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 5: Portfolio Turnover
71. Portfolio turnover rate for the period:
Purchases ($000s): 345,787
Sales ($000s): 384,337

Monthly average Value of portfolio ($000s): 574,477

Percent turnover (lesser of Purchases or Sales, divided by Value): 60%
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 .............................................. 15
Net dividend income .............................................. 2,144
Account maintenance fees ......................................... –
Net other income ................................................. 598

Expenses ($000s)
Advisory fees .................................................... 1,584
Administrator fees ............................................... –
Salaries and other compensation .................................. –
Shareholder Servicing Agent fees ................................. 208
Custodian fees ................................................... 30
Postage .......................................................... –
Printing expenses ................................................ –
Directors’ fees .................................................. 1
Registration fees ................................................ –
Taxes ............................................................ –
Interest ......................................................... 6
Bookkeeping fees paid to anyone performing this service .......... 110
Auditing fees .................................................... 23
Legal fees ....................................................... 1
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 183
Amortization of organization expenses ............................ –
Shareholder meeting expenses ..................................... –
Other expenses ................................................... 49
Total expenses ................................................... 2,195

Expense reimbursements ($000s): 4

Net investment income ($000s): 566

Realized capital gains ($000s): 0
Realized capital losses ($000s): 16,380

Net unrealized appreciation during the period ($000s): 0
Net unrealized depreciation during the period ($000s): 44,021

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 5: Financial Info — Condensed Balance Sheet Data
74. Assets ($000s)
Cash ............................................................. 3
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 ..................................................... 573,240
Options on equities .............................................. –
Options on all futures ........................................... –
Other investments ................................................ 18,680
Receivables from portfolio instruments sold ...................... 8,205
Receivables from affiliated persons .............................. 128
Other receivables ................................................ 410
All other assets ................................................. 551
Total assets ..................................................... 601,217

Liabilities ($000s)
Payables for portfolio instruments purchased ..................... 6,936
Amounts owed to affiliated persons ............................... 360
Senior long-term debt ............................................ –
Other liabilities:
Reverse repurchase agreements .................................. –
Short sales .................................................... –
Written options ................................................ –
All other liabilities .......................................... 19,577

Equity ($000s)
Senior equity .................................................... –
Net assets of common shareholders ................................ 574,344

Number of shares outstanding (000s): 14,006
Number of shares outstanding of a second class of shares (000s): 14,057

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

Total number of shareholder accounts: 100

Total value of assets in segregated accounts ($000s): 0
75. Monthly average net assets during the period ($000s): 569,152
Series 7 ↑Information Common to All Funds/Series ↑List of 7 Funds/Series
7. Name: VIP Growth & Income Portfolio [ now
Growth & Income Portfolio ] — S#7732 ⇒ QGI2Q

Is this the final Form N-SAR filed for this Fund/Series? No
S 7: 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 (U.K.) Ltd.
Role: Sub-Adviser
Location: London
England
8.7 Name: Fidelity Intl Investment Advisors, Inc. (Fiia)
Role: Sub-Adviser
Location: Pembroke
Bermuda
S 7: Independent Public Accountant
13.1 Name: Deloitte & Touche LLP
Location: Boston, MA
S 7: Custodian
15.1 Name: JPMorgan Chase Bank
Role: Custodian
Location: New York, NY