Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP Overseas Portfolio seeks long-term growth of capital.
Strategy. Normally investing at least 80% of assets in non-U.S. securities. The Adviser considers non-U.S. securities to include investments that are tied economically to a particular country or region outside the U.S. The Adviser considers a number of factors to determine whether an issuer is located in or tied economically to a particular country or region including: whether a third-party vendor has assigned a particular country or region classification to the issuer or included the issuer in an index representative of a particular country or region; the issuer's domicile, incorporation, and location of assets; whether the issuer derives at least 50% of its revenues from, or has at least 50% of its assets in, a particular country or region; the source … Normally investing at least 80% of assets in non-U.S. securities. The Adviser considers non-U.S. securities to include investments that are tied economically to a particular country or region outside the U.S. The Adviser considers a number of factors to determine whether an issuer is located in or tied economically to a particular country or region including: whether a third-party vendor has assigned a particular country or region classification to the issuer or included the issuer in an index representative of a particular country or region; the issuer's domicile, incorporation, and location of assets; whether the issuer derives at least 50% of its revenues from, or has at least 50% of its assets in, a particular country or region; the source of government guarantees (if any); and the primary trading market or listing exchange. Whether an issuer is located in or tied economically to a particular country can be determined under any of these factors. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Normally investing primarily in common stocks. Allocating investments across different countries and regions. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ASML Holding NV | — | $82.65M | 3.93% |
| BANCO SANTANDER SA | — | $62.10M | 2.95% |
| SCHNEIDER ELECTR | — | $57.34M | 2.73% |
| ROLLS-ROYCE HOLDINGS PLC | — | $53.41M | 2.54% |
| ROCHE HOLDING AG | — | $52.26M | 2.48% |
| SAFRAN SA | — | $51.60M | 2.45% |
| IBERDROLA SA | — | $50.81M | 2.41% |
| CAIXABANK SA | — | $50.71M | 2.41% |
| TSMC | — | $47.70M | 2.27% |
| L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | AIQUF | $46.80M | 2.22% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Overseas Fund · FOSFX, FOSKX, FVOZX, FOVHX, FOVBX, FOVMX, FOVDX | 82% | 0.58% |
| Fidelity Series Overseas Fund · FSOSX | 81% | 0.01% |
| Fidelity Advisor Overseas Fund · FAOAX, FAOCX, FAERX, FAOIX, FAOSX | 66% | 0.64% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
| FIL Investment Advisors | Sub-adviser |
| FIL Investment Advisors (UK) Limited | Sub-adviser |
Footnotes
- Expense ratio as of April 18, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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