VIP Mid Cap Portfolio
Variable Insurance Products Fund III
Expense ratio
Net assets1
$7.99B
Holdings1
170
Category
US Equity
Return

Investment objective & strategy

As of April 18, 2025 · prospectus

Objective. VIP Mid Cap Portfolio seeks long-term growth of capital.

Strategy. Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies with medium market capitalizations . The Adviser generally defines medium market capitalization companies as those whose market capitalization is similar to the market capitalization of companies in the Russell Midcap Index or the S&P MidCap 400 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. Potentially investing in companies with smaller or larger market capitalizations. Investing in domestic and foreign issuers. Investing … Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies with medium market capitalizations . The Adviser generally defines medium market capitalization companies as those whose market capitalization is similar to the market capitalization of companies in the Russell Midcap Index or the S&P MidCap 400 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. Potentially investing in companies with smaller or larger market capitalizations. 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
SecurityTickerValue% of fund
Fidelity Cash Central Fund $272.93M 3.42%
LUMENTUM HOLDINGS INC $143.78M 1.80%
ATI INC $130.93M 1.64%
Fidelity Securities Lending Cash Central Fund $130.01M 1.63%
ITT INC $129.03M 1.62%
WESTERN DIGITAL CORP $125.70M 1.57%
US FOODS HOLDING CORP $121.32M 1.52%
COHERENT CORP $118.49M 1.48%
EAST WEST BNCRP $110.48M 1.38%
EMCOR GROUP INC $110.08M 1.38%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
22
Exited
29
Increased
61
Decreased
32
Unchanged
55

How 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.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Fidelity Advisor Mid Cap II Fund · FIIAX, FIICX, FITIX, FIIMX, FZAMX 98% 0.58%
Fidelity Mid-Cap Stock K6 Fund · FNKFX 42% 0.45%
Fidelity Mid-Cap Stock Fund · FMCSX, FKMCX, FMCNX, FMCWX, FMCHX, FMCJX, FMCQX 42% 0.56%
View all similar funds →

Advisers

As of December 31, 2025 · N-CEN
FirmRole
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

  1. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.

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