Investment objective & strategy
As of April 18, 2025 · prospectusObjective. VIP Disciplined Small Cap Portfolio seeks capital appreciation.
Strategy. Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies with small market capitalizations . The Adviser generally defines small market capitalization companies as those whose market capitalization is similar to the market capitalization of companies in the Russell 2000 Index or the S&P SmallCap 600 Index. 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. Investing in either "growth" stocks or "value" stocks or both. Generally utilizing a research-driven approach identifying long-term drivers … Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies with small market capitalizations . The Adviser generally defines small market capitalization companies as those whose market capitalization is similar to the market capitalization of companies in the Russell 2000 Index or the S&P SmallCap 600 Index. 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. Investing in either "growth" stocks or "value" stocks or both. Generally utilizing a research-driven approach identifying long-term drivers of stock returns that may include, but are not limited to, valuation, growth, quality, and other factors. The research is systematically applied alongside a proprietary portfolio construction and risk management framework to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the Russell 2000 Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $20.35M | 3.91% |
| BLOOM ENERGY CORP CL A | — | $7.45M | 1.43% |
| FABRINET | — | $5.95M | 1.14% |
| COEUR MINING INC | — | $4.44M | 0.85% |
| GUARDANT HEALTH INC | — | $4.24M | 0.81% |
| ENERSYS INC | — | $3.95M | 0.76% |
| Fidelity Cash Central Fund | — | $3.95M | 0.76% |
| COMMERCIAL METALS CO | — | $3.86M | 0.74% |
| HECLA MINING CO | — | $3.84M | 0.74% |
| HEALTHEQUITY INC | — | $3.82M | 0.73% |
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 Enhanced Small Cap ETF · FESM | 80% | 0.28% |
| Fidelity Small Cap Index Fund · FSSNX | 42% | 0.03% |
| LVIP SSGA Small-Cap Index Fund | 41% | 0.38% |
Advisers
| Firm | Role |
|---|---|
| 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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