Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP Contrafund? Portfolio seeks long-term capital appreciation.
Strategy. Normally investing primarily in common stocks. Investing in securities of companies whose value Fidelity Management & Research Company LLC (FMR) believes is not fully recognized by the public. Investing in domestic and foreign issuers. Investing in either "growth" stocks or "value" stocks or both. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Normally investing primarily in common stocks. Investing in securities of companies whose value Fidelity Management & Research Company LLC (FMR) believes is not fully recognized by the public. Investing in domestic and foreign issuers. Investing in either "growth" stocks or "value" stocks or both. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $2.69B | 10.14% |
| META PLATFORMS INC CL A | — | $2.11B | 7.96% |
| ALPHABET INC CL C | — | $1.35B | 5.08% |
| AMAZON.COM INC | — | $1.24B | 4.67% |
| MICROSOFT CORP | — | $1.02B | 3.84% |
| BERKSHIRE HATH-B | — | $955.61M | 3.60% |
| NETFLIX INC | — | $718.13M | 2.71% |
| LILLY ELI and CO | — | $504.27M | 1.90% |
| APPLE INC | — | $451.85M | 1.70% |
| Fidelity Cash Central Fund | — | $416.21M | 1.57% |
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 Series Opportunistic Insights Fund · FVWSX | 75% | 0.00% |
| Fidelity Advisor New Insights Fund · FNIAX, FNICX, FNITX, FINSX, FZANX | 73% | 0.70% |
| Fidelity Contrafund K6 · FLCNX | 70% | 0.45% |
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 |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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