Fidelity VIP Contrafund℠ fund

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Fund Overview

Advisor

Fidelity Management & Research Company LLC

Objective/Focus:

Normally invests primarily in common stocks. Seeks long-term capital appreciation.

Asset Class:

Large-Cap Stocks

Style:

Blend

Stocks of smaller or newer companies, such as those held in this Fund, are more likely to realize more substantial growth as well as suffer more significant losses than larger or more established issuers. Investments in such companies can be both more volatile and more speculative.

Investing in small company stocks involves a greater degree of risk than investing in medium or large company stocks. Their securities may also trade less frequently and in lower volumes, making market prices more volatile.

Fund Facts as of 12/31/2025

Fund Inception

04-30-2007

First Available for Variable Annuity

04-30-2007

First Available for Variable Life

06-30-2011

Net Assets

$28.50 Billion

Top 10 Portfolio Holdings % of Net Assets

NVIDIA Corp.

Meta Platforms, Inc. - Class A

Alphabet, Inc. - Class C

Amazon.com, Inc.

Microsoft Corp.

Berkshire Hathaway, Inc. - Class B

Eli Lilly & Co.

Apple, Inc.

GE Aerospace

Amphenol Corp. - Class A

Total % of Net Assets

44.7%

Sector Weightings % of Equities

Information Technology

29.3%

Communication Services

18.0%

Financials

14.4%

Industrials

10.4%

Consumer Discretionary

9.6%