# EDGAR Filing Document

**Accession Number:** 0000356494
**File Stem:** 0000035402-25-002290
**Filing Date:** 2025-11
**Character Count:** 66376
**Document Hash:** 6fef7a7439b5fbecee1cc99df5575dd5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-25-002290.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000035402-25-002290

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE INSURANCE PRODUCTS FUND
- **CENTRAL INDEX KEY:** 0000356494

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03329
- **FILM NUMBER:** 251519850

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIDELITY CASH RESERVES II
- **DATE OF NAME CHANGE:** 19850825

## Series and Classes Contracts Data

### Growth Portfolio (Series ID: S000007717)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000020971 | Investor Class  |  |
| C000020972 | Service Class   |  |
| C000020974 | Service Class 2 | QVG2Q           |
| C000023036 | Initial Class   |  |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Variable Insurance Products:**

**VIP Growth Portfolio**

**September 30, 2025**

VIPGRWT-NPRT3-1125

1.808779.121 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** | &nbsp;&nbsp;**Common Stocks - 99.5%** |
|  | Shares | Value ($)<br>|
| BELGIUM - 0.9%  |  |  |
| Health Care - 0.9% |  |  |
| Pharmaceuticals - 0.9% |  |  |
| UCB SA  | 373700 | 103104484 |
| BRAZIL - 0.9%  |  |  |
| Consumer Discretionary - 0.7% |  |  |
| Broadline Retail - 0.7% |  |  |
| MercadoLibre Inc (b) | 35182 | 82218223 |
| Materials - 0.2% |  |  |
| Metals & Mining - 0.2% |  |  |
| Vale SA ADR  | 1713000 | 18603180 |
| TOTAL BRAZIL |  | 100821403 |
| CANADA - 1.5%  |  |  |
| Information Technology - 0.5% |  |  |
| IT Services - 0.5% |  |  |
| Shopify Inc Class A (United States) (b) | 384400 | 57125684 |
| Materials - 1.0% |  |  |
| Metals & Mining - 1.0% |  |  |
| Agnico Eagle Mines Ltd/CA (United States) (c) | 338300 | 57023848 |
| Franco-Nevada Corp  | 267500 | 59541191 |
|  |  | 116565039 |
| TOTAL CANADA |  | 173690723 |
| CHINA - 1.8%  |  |  |
| Communication Services - 1.4% |  |  |
| Interactive Media & Services - 1.4% |  |  |
| Tencent Holdings Ltd  | 1943900 | 165638946 |
| Consumer Discretionary - 0.4% |  |  |
| Automobiles - 0.2% |  |  |
| BYD Co Ltd H Shares  | 1290200 | 18236562 |
| Broadline Retail - 0.2% |  |  |
| Alibaba Group Holding Ltd ADR  | 164400 | 29383212 |
| TOTAL CONSUMER DISCRETIONARY |  | 47619774 |
| TOTAL CHINA |  | 213258720 |
| GERMANY - 0.4%  |  |  |
| Consumer Discretionary - 0.4% |  |  |
| Specialty Retail - 0.4% |  |  |
| Auto1 Group SE (b) | 1540400 | 52446692 |
| GRAND CAYMAN (UK OVERSEAS TER) - 0.0%  |  |  |
| Financials - 0.0% |  |  |
| Capital Markets - 0.0% |  |  |
| Bullish (c) | 20000 | 1272200 |
| ISRAEL - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| Gamida Cell Ltd rights (b)(d) | 2212268 | 22 |
| KOREA (SOUTH) - 0.7%  |  |  |
| Information Technology - 0.7% |  |  |
| Semiconductors & Semiconductor Equipment - 0.7% |  |  |
| SK Hynix Inc  | 311440 | 77060017 |
| NETHERLANDS - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| Argenx SE ADR (b) | 5400 | 3982824 |
| TAIWAN - 2.6%  |  |  |
| Information Technology - 2.6% |  |  |
| Semiconductors & Semiconductor Equipment - 2.6% |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd ADR  | 1091204 | 304762365 |
| UNITED KINGDOM - 0.6%  |  |  |
| Consumer Discretionary - 0.6% |  |  |
| Hotels, Restaurants & Leisure - 0.6% |  |  |
| Flutter Entertainment PLC (b) | 300800 | 76403200 |
| UNITED STATES - 90.1%  |  |  |
| Communication Services - 14.2% |  |  |
| Entertainment - 4.2% |  |  |
| Live Nation Entertainment Inc (b) | 329300 | 53807620 |
| Netflix Inc (b) | 240664 | 288536883 |
| ROBLOX Corp Class A (b) | 382700 | 53011604 |
| Spotify Technology SA (b) | 145300 | 101419400 |
|  |  | 496775507 |
| Interactive Media & Services - 10.0% |  |  |
| Alphabet Inc Class A  | 2375676 | 577526836 |
| Epic Games Inc (b)(d)(e) | 5869 | 4293349 |
| Meta Platforms Inc Class A  | 751800 | 552106884 |
| Reddit Inc Class A (b) | 162200 | 37304378 |
|  |  | 1171231447 |
| TOTAL COMMUNICATION SERVICES |  | 1668006954 |
| Consumer Discretionary - 10.7% |  |  |
| Automobiles - 1.7% |  |  |
| Tesla Inc (b) | 445143 | 197963995 |
| Broadline Retail - 4.6% |  |  |
| Amazon.com Inc (b) | 2491180 | 546988393 |
| Diversified Consumer Services - 0.2% |  |  |
| Duolingo Inc Class A (b) | 69600 | 22400064 |
| Hotels, Restaurants & Leisure - 2.1% |  |  |
| Airbnb Inc Class A (b) | 161100 | 19560762 |
| Booking Holdings Inc  | 16800 | 90707736 |
| Hilton Worldwide Holdings Inc  | 293991 | 76273025 |
| Viking Holdings Ltd (b) | 926149 | 57569422 |
|  |  | 244110945 |
| Household Durables - 0.9% |  |  |
| Blu Homes Inc (b)(d)(e) | 14533890 | 4506 |
| DR Horton Inc  | 357207 | 60535870 |
| SharkNinja Inc (b) | 412500 | 42549375 |
|  |  | 103089751 |
| Specialty Retail - 1.2% |  |  |
| AutoZone Inc (b) | 9400 | 40328256 |
| Lowe's Cos Inc  | 50900 | 12791679 |
| Ross Stores Inc  | 236700 | 36070713 |
| Williams-Sonoma Inc  | 273172 | 53391467 |
|  |  | 142582115 |
| TOTAL CONSUMER DISCRETIONARY |  | 1257135263 |
| Consumer Staples - 1.8% |  |  |
| Consumer Staples Distribution & Retail - 0.8% |  |  |
| Costco Wholesale Corp  | 93500 | 86546405 |
| Personal Care Products - 0.3% |  |  |
| Estee Lauder Cos Inc/The Class A  | 445824 | 39286011 |
| Tobacco - 0.7% |  |  |
| Philip Morris International Inc  | 509900 | 82705780 |
| TOTAL CONSUMER STAPLES |  | 208538196 |
| Energy - 0.8% |  |  |
| Oil, Gas & Consumable Fuels - 0.8% |  |  |
| Cheniere Energy Inc  | 335626 | 78865397 |
| EQT Corp  | 222800 | 12127004 |
|  |  | 90992401 |
| Financials - 8.1% |  |  |
| Banks - 0.6% |  |  |
| Bank of America Corp  | 1413900 | 72943101 |
| Capital Markets - 2.4% |  |  |
| Cboe Global Markets Inc  | 210000 | 51502500 |
| Charles Schwab Corp/The  | 579700 | 55343959 |
| Coinbase Global Inc Class A (b) | 148700 | 50184763 |
| Gemini Space Station Inc Class A (c) | 9500 | 227620 |
| Morgan Stanley  | 771703 | 122669909 |
|  |  | 279928751 |
| Consumer Finance - 0.4% |  |  |
| Capital One Financial Corp  | 275000 | 58459500 |
| Financial Services - 4.7% |  |  |
| Apollo Global Management Inc  | 595600 | 79375612 |
| Mastercard Inc Class A  | 824079 | 468744376 |
|  |  | 548119988 |
| TOTAL FINANCIALS |  | 959451340 |
| Health Care - 5.8% |  |  |
| Biotechnology - 1.8% |  |  |
| Adamas Pharmaceuticals Inc rights (b)(d) | 1781700 | 17817 |
| Adamas Pharmaceuticals Inc rights (b)(d) | 1781700 | 18 |
| Alnylam Pharmaceuticals Inc (b) | 365024 | 166450945 |
| Blueprint Medicines Corp rights (b)(d) | 36400 | 0 |
| Insmed Inc (b) | 222645 | 32063106 |
| Legend Biotech Corp ADR (b) | 425557 | 13877414 |
| Soleno Therapeutics Inc (b) | 58100 | 3927560 |
|  |  | 216336860 |
| Health Care Equipment & Supplies - 1.6% |  |  |
| Boston Scientific Corp (b) | 351900 | 34355997 |
| Edwards Lifesciences Corp (b) | 772100 | 60046217 |
| Insulet Corp (b) | 187500 | 57886875 |
| Penumbra Inc (b) | 126601 | 32070565 |
|  |  | 184359654 |
| Health Care Providers & Services - 0.3% |  |  |
| CVS Health Corp  | 449800 | 33910422 |
| Health Care Technology - 0.3% |  |  |
| Veeva Systems Inc Class A (b) | 122500 | 36493975 |
| Pharmaceuticals - 1.8% |  |  |
| Eli Lilly & Co  | 272787 | 208136481 |
| TOTAL HEALTH CARE |  | 679237392 |
| Industrials - 5.9% |  |  |
| Aerospace & Defense - 1.2% |  |  |
| Anduril Industries Inc Class B (d)(e) | 1299 | 53103 |
| Anduril Industries Inc Class C (d)(e) | 1 | 41 |
| Boeing Co (b) | 381988 | 82444470 |
| GE Aerospace  | 209600 | 63051872 |
|  |  | 145549486 |
| Building Products - 0.9% |  |  |
| Trane Technologies PLC  | 256267 | 108134423 |
| Construction & Engineering - 0.5% |  |  |
| Dycom Industries Inc (b) | 103300 | 30138808 |
| EMCOR Group Inc  | 37300 | 24227842 |
|  |  | 54366650 |
| Electrical Equipment - 1.0% |  |  |
| GE Vernova Inc  | 193225 | 118814053 |
| Ground Transportation - 0.0% |  |  |
| Uber Technologies Inc (b) | 12278 | 1202875 |
| Machinery - 1.5% |  |  |
| Deere & Co  | 127600 | 58346376 |
| Parker-Hannifin Corp  | 47300 | 35860495 |
| Westinghouse Air Brake Technologies Corp  | 334297 | 67016520 |
|  |  | 161223391 |
| Professional Services - 0.1% |  |  |
| Equifax Inc  | 68112 | 17472771 |
| Trading Companies & Distributors - 0.7% |  |  |
| Ferguson Enterprises Inc (United Kingdom)  | 169145 | 37853189 |
| United Rentals Inc  | 47632 | 45472366 |
|  |  | 83325555 |
| TOTAL INDUSTRIALS |  | 690089204 |
| Information Technology - 40.1% |  |  |
| Electronic Equipment, Instruments & Components - 1.0% |  |  |
| Amphenol Corp Class A  | 905434 | 112047458 |
| Semiconductors & Semiconductor Equipment - 18.6% |  |  |
| Broadcom Inc  | 1585076 | 522932423 |
| Marvell Technology Inc  | 756000 | 63556920 |
| NVIDIA Corp  | 8601976 | 1604956682 |
|  |  | 2191446025 |
| Software - 15.6% |  |  |
| Asapp Inc warrants 8/28/2028 (b)(d)(e) | 2365967 | 2294988 |
| Cadence Design Systems Inc (b) | 129100 | 45347666 |
| Circle Internet Group Inc Class A (c) | 17600 | 2333408 |
| Datadog Inc Class A (b) | 289300 | 41196320 |
| Microsoft Corp  | 2602188 | 1347803275 |
| OpenAI Global LLC rights (b)(d)(e) | 6112033 | 12651908 |
| Oracle Corp  | 929125 | 261307115 |
| Palantir Technologies Inc Class A (b) | 369200 | 67349464 |
| Synopsys Inc (b) | 117400 | 57923986 |
| Via Transportation Inc (b)(c) | 11100 | 533688 |
|  |  | 1838741818 |
| Technology Hardware, Storage & Peripherals - 4.9% |  |  |
| Apple Inc  | 2280732 | 580742789 |
| TOTAL INFORMATION TECHNOLOGY |  | 4722978090 |
| Materials - 1.0% |  |  |
| Chemicals - 1.0% |  |  |
| Corteva Inc  | 976800 | 66060984 |
| Sherwin-Williams Co/The  | 154300 | 53427918 |
|  |  | 119488902 |
| Real Estate - 0.7% |  |  |
| Health Care REITs - 0.2% |  |  |
| Ventas Inc  | 418300 | 29276816 |
| Real Estate Management & Development - 0.5% |  |  |
| Zillow Group Inc Class C (b) | 687700 | 52987285 |
| TOTAL REAL ESTATE |  | 82264101 |
| Utilities - 1.0% |  |  |
| Electric Utilities - 0.8% |  |  |
| Constellation Energy Corp  | 68200 | 22442574 |
| NRG Energy Inc  | 417300 | 67581735 |
|  |  | 90024309 |
| Independent Power and Renewable Electricity Producers - 0.2% |  |  |
| Vistra Corp  | 152000 | 29779840 |
| TOTAL UTILITIES |  | 119804149 |
| TOTAL UNITED STATES |  | 10597985992 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $7,464,144,847) |  | <br> **11704788642** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.0%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.0%  |  |  |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc 15% (d)(e)(f)<br>(Cost $1,940,200)<br>| 1940200 | **1897515** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.4%** |
|  | Shares | Value ($)<br>|
| AUSTRALIA - 0.0%  |  |  |
| Information Technology - 0.0% |  |  |
| Software - 0.0% |  |  |
| Canva Australia Holdings Pty Ltd Series A (b)(d)(e) | 1016 | 1672478 |
| Canva Australia Holdings Pty Ltd Series A2 (b)(d)(e) | 184 | 302890 |
| TOTAL AUSTRALIA |  | 1975368 |
| UNITED STATES - 0.4%  |  |  |
| Financials - 0.0% |  |  |
| Financial Services - 0.0% |  |  |
| Akeana Series C (b)(d)(e) | 61700 | 814440 |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| ElevateBio LLC Series C (b)(d)(e) | 198400 | 414656 |
| Industrials - 0.1% |  |  |
| Aerospace & Defense - 0.1% |  |  |
| Anduril Industries Inc Series F (b)(d)(e) | 205955 | 8419440 |
| Anduril Industries Inc Series G (d)(e) | 12300 | 502824 |
|  |  | 8922264 |
| Information Technology - 0.3% |  |  |
| IT Services - 0.1% |  |  |
| X.Ai Holdings Corp Series C (d)(e) | 356400 | 13029984 |
| Software - 0.2% |  |  |
| Anthropic PBC Series F (d)(e) | 44800 | 6315456 |
| Asapp Inc Series C (b)(d)(e) | 654971 | 1021755 |
| Asapp Inc Series D (b)(d)(e) | 4123720 | 5319599 |
| Databricks Inc Series K (d)(e) | 42300 | 6345000 |
|  |  | 19001810 |
| TOTAL INFORMATION TECHNOLOGY |  | 32031794 |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc Series C2 (b)(d)(e) | 137249 | 1594833 |
| Illuminated Holdings Inc Series C3 (b)(d)(e) | 171560 | 1993527 |
| Illuminated Holdings Inc Series C4 (b)(d)(e) | 48240 | 560549 |
| Illuminated Holdings Inc Series C5 (b)(d)(e) | 96064 | 1116264 |
|  |  | 5265173 |
| TOTAL UNITED STATES |  | 47448327 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $62,964,935) |  | <br> **49423695** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Preferred Securities - 0.0%** | &nbsp;&nbsp;**Preferred Securities - 0.0%** | &nbsp;&nbsp;**Preferred Securities - 0.0%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.0%  |  |  |
| Materials - 0.0% |  |  |
| Metals & Mining - 0.0% |  |  |
| Illuminated Holdings Inc 15% (d)(e)(f)<br>(Cost $2,538,700)<br>| 2538700 | **3130979** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** | &nbsp;&nbsp;**Money Market Funds - 0.2%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (g) | 4.21 | 13266103 | 13268756 |
| Fidelity Securities Lending Cash Central Fund (g)(h) | 4.19 | 14932748 | 14934242 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $28,202,998) |  |  | **28202998** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 100.1%**<br> (Cost $7,559,791,680)<br>| <br>**11787443829** |
| **NET OTHER ASSETS (LIABILITIES) - (0.1)%**  | **(11821621)** |
| **NET ASSETS - 100.0%** | **11775622208** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing.

(c) Security or a portion of the security is on loan at period end.

(d) Level 3 security.

(e) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $73,750,084 or 0.6% of net assets.

(f) Security is perpetual in nature with no stated maturity date.

(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(h) Investment made with cash collateral received from securities on loan.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Akeana Series C | 1/23/2024 | 787341 |
| Anduril Industries Inc Class B | 6/16/2025 | 53107 |
| Anduril Industries Inc Class C | 6/16/2025 | 41 |
| Anduril Industries Inc Series F | 8/7/2024 | 4476762 |
| Anduril Industries Inc Series G | 4/17/2025 | 502858 |
| Anthropic PBC Series F | 8/18/2025 | 6315348 |
| Asapp Inc Series C | 4/30/2021 | 4320909 |
| Asapp Inc Series D | 8/29/2023 | 15923746 |
| Asapp Inc warrants 8/28/2028 | 8/29/2023 | 2 |
| Blu Homes Inc | 5/21/2020 | 25138 |
| Canva Australia Holdings Pty Ltd Series A | 9/22/2023 | 1083728 |
| Canva Australia Holdings Pty Ltd Series A2 | 9/22/2023 | 196265 |
| Databricks Inc Series K | 9/8/2025 | 6345000 |
| ElevateBio LLC Series C | 3/9/2021 | 832288 |
| Epic Games Inc | 3/29/2021 | 5194064 |
| Illuminated Holdings Inc 15% | 6/14/2023 | 1940200 |
| Illuminated Holdings Inc 15% | 9/27/2023 | 2538700 |
| Illuminated Holdings Inc Series C2 | 7/7/2020 | 3431225 |
| Illuminated Holdings Inc Series C3 | 7/7/2020 | 5146800 |
| Illuminated Holdings Inc Series C4 | 1/8/2021 | 1736640 |
| Illuminated Holdings Inc Series C5 | 6/16/2021 | 4149965 |
| OpenAI Global LLC rights | 9/30/2024 | 6112033 |
| X.Ai Holdings Corp Series C | 11/22/2024 | 7716060 |

---

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 157994350 | 1747933478 | 1892657099 | 4903489 | (1973) | - | 13268756 | 13266103 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 9880953 | 460705925 | 455652636 | 1244230 | - | - | 14934242 | 14932748 | 0.0% |
| Total | 167875303 | 2208639403 | 2348309735 | 6147719 | (1973) | - | 28202998 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Convertible Corporate Bonds and Preferred Securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Variable Insurance Products Fund

- **b. Investment Company Act file number:** 811-03329

- **c. CIK number of Registrant:** 0000356494

- **d. LEI of Registrant:** 549300DXU3EB0NDEJ256

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

**Item A.2. Information about the Series.**

- **a. Name of Series:** VIP Growth Portfolio

- **b. EDGAR series identifier (if any):** S000007717

- **c. LEI of Series:** LJ8FIVFEK0XKVGV67H52

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $11825525364.27

**Total Liabilities:** $44275661.90

**Net Assets:** $11781249702.37

**Cash Not Reported:** $264691.86

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023036 | 3.60%                | -0.29%               | 4.05%                |
| Class ID C000020972 | 3.60%                | -0.31%               | 4.04%                |
| Class ID C000020974 | 3.57%                | -0.31%               | 4.02%                |
| Class ID C000020971 | 3.60%                | -0.31%               | 4.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4490182.24              | $397243827.37                              |
| Month 2  | $664215808.31            | $-699245093.34                             |
| Month 3  | $239114061.70            | $221261216.82                              |

### Schedule of Portfolio Investments

| Name                             | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)    | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CANVA AUSTRALIA HOLDINGS PTY LTD | CANVA INC SER A-2 PC PERP PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | AU        |       184 | NS      | $302889.76     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SHARKNINJA INC                   | SHARKNINJA INC                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    412500 | NS      | $42549375.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA INC                     | PENUMBRA INC                                    | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |    126601 | NS      | $32070565.32   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS INC                     | SYNOPSYS INC                                    | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |    117400 | NS      | $57923986.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCLE INTERNET GROUP INC        | CIRCLE INTERNET GROUP INC A                     | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |     17600 | NS      | $2333408.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| COSTCO WHOLESALE CORP            | COSTCO WHOLESALE CORP                           | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     93500 | NS      | $86546405.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC CONV 15% PERP P/P      | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1940200 | PA      | $1897515.60    | 0.02%             | 2199-12-31      | Fixed         | 0.15%                 | Yes           |                  3 | On Loan: No      |
| BULLISH                          | BULLISH                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     20000 | NS      | $1272200.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| VIA TRANSPORTATION INC           | VIA TRANSPORTATION INC                          | CUSIP: 92556W104<br>LEI: 5493008VI9XI9EV3A861 | Long             | EC               | CORP              | US        |     11100 | NS      | $533688.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| WESTINGHOUSE AIR BRAKE TECH CORP | WESTINGHOUSE AIR BRAKE TECH CORP                | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |    334297 | NS      | $67016519.59   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                        | ASAPP INC WT 08/28/2028 PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   2365967 | NS      | $2294987.99    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GE VERNOVA INC                   | GE VERNOVA INC                                  | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |    193225 | NS      | $118814052.50  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                        | APPLE INC                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   2280732 | NS      | $580742789.16  | 4.93%             |  |  |  | No            |                  1 | On Loan: No      |
| GEMINI SPACE STATION INC         | GEMINI SPACE STATION INC                        | CUSIP: 36866J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9500 | NS      | $227620.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| ADAMAS PHARMACEUTICALS INC       | ADAMAS PHARMACEUTICALS INC (CVR) RT             | CUSIP: N/A<br>LEI: 529900JBG6S9MXH83I79       | Long             | EC               | CORP              | US        |   1781700 | NS      | $17817.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AMAZON.COM INC                   | AMAZON.COM INC                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   2491180 | NS      | $546988392.60  | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Blu Homes Inc                    | BLU INVESTMENTS LLC PP                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |  14533890 | NS      | $4505.51       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AMPHENOL CORPORATION NEW         | AMPHENOL CORPORATION CL A                       | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    905434 | NS      | $112047457.50  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                   | MICROSOFT CORP                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   2602188 | NS      | $1347803274.60 | 11.44%            |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS INC               | UNITED RENTALS INC                              | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |     47632 | NS      | $45472365.12   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORP                         | EQT CORPORATION                                 | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    222800 | NS      | $12127004.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORP       | CAPITAL ONE FINANCIAL CORP                      | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |    275000 | NS      | $58459500.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOZONE INC                     | AUTOZONE INC                                    | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      9400 | NS      | $40328256.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC               | META PLATFORMS INC CL A                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    751800 | NS      | $552106884.00  | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT, INC    | APOLLO GLOBAL MANAGEMENT INC                    | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |    595600 | NS      | $79375612.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON ENTERPRISES INC         | FERGUSON ENTERPRISES INC                        | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    169145 | NS      | $37853189.40   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB CHARLES CORP              | SCHWAB CHARLES CORP                             | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    579700 | NS      | $55343959.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC           | ANDURIL INDUSTRIES INC SER F PC PP              | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EP               | CORP              | US        |    205955 | NS      | $8419440.40    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DATADOG INC                      | DATADOG INC CL A                                | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |    289300 | NS      | $41196320.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DEERE and CO                     | DEERE and CO                                    | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    127600 | NS      | $58346376.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PALANTIR TECHNOLOGIES INC        | PALANTIR TECHNOLOGIES INC                       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    369200 | NS      | $67349464.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER ENTERTAINMENT PLC        | FLUTTER ENTERTAINMENT PLC                       | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               | CORP              | IE        |    300800 | NS      | $76403200.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                       | VENTAS INC REIT                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    418300 | NS      | $29276817.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC           | ANDURIL INDUSTRIES INC CL B PP                  | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EC               | CORP              | US        |      1299 | NS      | $53103.12      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EPIC GAMES INC                   | EPIC GAMES INC PP                               | CUSIP: N/A<br>LEI: 549300I2RHITL4UP9K78       | Long             | EC               | CORP              | US        |      5869 | NS      | $4293349.57    | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LOWES COS INC                    | LOWES COS INC                                   | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     74300 | NS      | $18672333.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC CONV 15% PERP P/P      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   2538700 | PA      | $2489956.96    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DYCOM INDUSTRIES INC             | DYCOM INDUSTRIES INC                            | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |    103300 | NS      | $30138808.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUIFAX INC                      | EQUIFAX INC                                     | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |     68112 | NS      | $17472771.36   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD CO LTD                       | BYD COMPANY LTD H                               | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |   2127800 | NS      | $30075768.16   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD        | ALIBABA GROUP HOLDING LTD SPON ADR              | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |     65400 | NS      | $11688942.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORP                      | ORACLE CORP                                     | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    929125 | NS      | $261307115.00  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE                        | ARGENX SE SPONSORED ADR                         | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      5400 | NS      | $3982824.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DR HORTON INC                    | DR HORTON INC                                   | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |    357207 | NS      | $60535870.29   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                        | ASAPP INC SER C PC PP                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    654971 | NS      | $1021754.76    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NRG ENERGY INC                   | NRG ENERGY INC                                  | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |    417300 | NS      | $67581735.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CORTEVA INC                      | CORTEVA INC                                     | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    976800 | NS      | $66060984.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| TESLA INC                        | TESLA INC                                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    418543 | NS      | $186134442.96  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC SER C-3 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    171560 | NS      | $1993527.20    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MARVELL TECHNOLOGY INC           | MARVELL TECHNOLOGY INC                          | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    756000 | NS      | $63556920.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY SA            | SPOTIFY TECHNOLOGY SA                           | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | LU        |    145300 | NS      | $101419400.00  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMENT INC    | LIVE NATION ENTERTAINMENT INC                   | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |    329300 | NS      | $53807620.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LAUDER ESTEE COS INC             | ESTEE LAUDER COS INC CL A                       | CUSIP: 518439104<br>LEI: 549300VFZ8XJ9NUPU221 | Long             | EC               | CORP              | US        |    555869 | NS      | $48983176.28   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUEPRINT MEDICINES CORP         | BLUEPRINT MEDICINES CORP CVR                    | CUSIP: N/A<br>LEI: 5299004CC60O9T5HVM83       | Long             | EC               | CORP              | US        |     36400 | NS      | $0.36          | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BOOKING HOLDINGS INC             | THE BOOKING HOLDINGS INC                        | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |     17900 | NS      | $96646933.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING HOLDINGS LTD              | VIKING HOLDINGS LTD                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |    926149 | NS      | $57569421.84   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC SER C-5 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     96064 | NS      | $1116263.68    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PARKER-HANNIFIN CORP             | PARKER HANNIFIN CORP                            | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     47300 | NS      | $35860495.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNICO EAGLE MINES LTD           | AGNICO EAGLE MINES LTD                          | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               | CORP              | CA        |    338300 | NS      | $57023848.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| DUOLINGO INC                     | DUOLINGO INC                                    | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69600 | NS      | $22400064.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC SER C-4 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     48240 | NS      | $560548.80     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CADENCE DESIGN SYSTEMS INC       | CADENCE DESIGN SYSTEMS INC                      | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |    129100 | NS      | $45347666.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| OPEN AI GLOBAL LLC               | OPEN AI GLOBAL LLC CONVERTIBLE INTEREST RT PP   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   6112033 | NS      | $12651908.31   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SOLENO THERAPEUTICS INC          | SOLENO THERAPEUTICS INC                         | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |     58100 | NS      | $3927560.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP           | BOSTON SCIENTIFIC CORP                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    351900 | NS      | $34355997.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AKEANA                           | AKEANA SER C PC PP                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     61700 | NS      | $814440.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELI LILLY and CO                 | ELI LILLY and CO                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    272787 | NS      | $208136481.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| DATABRICKS INC                   | DATABRICKS INC SER K PC PP                      | CUSIP: N/A<br>LEI: 984500FEDAC7FBD96273       | Long             | EP               | CORP              | US        |     42300 | NS      | $6345000.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EMCOR GROUP INC                  | EMCOR GROUP INC                                 | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     37300 | NS      | $24227842.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| GE AEROSPACE                     | GE AEROSPACE                                    | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    209600 | NS      | $63051872.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC                     | BROADCOM INC                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |   1585076 | NS      | $522932423.16  | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                | TENCENT HOLDINGS LTD                            | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |   1943900 | NS      | $165638945.83  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC              | COINBASE GLOBAL INC                             | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |    148700 | NS      | $50184763.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN WILLIAMS CO              | SHERWIN WILLIAMS CO                             | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |    154300 | NS      | $53427918.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CANVA AUSTRALIA HOLDINGS PTY LTD | CANVA INC SER A PC PERP PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | AU        |      1016 | NS      | $1672478.24    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL INC  | PHILIP MORRIS INTL INC                          | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    509900 | NS      | $82705780.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust     | Fidelity Cash Central Fund                      | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  13266103 | NS      | $13268756.14   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANE TECHNOLOGIES PLC           | TRANE TECHNOLOGIES PLC                          | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |    256267 | NS      | $108134423.32  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORP        | EDWARDS LIFESCIENCES CORP                       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |    772100 | NS      | $60046217.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP              | LEGEND BIOTECH CORP SPON ADR                    | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |    425557 | NS      | $13877413.77   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MFG CO LTD  | TAIWAN SEMIC MFG CO LTD SP ADR                  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   1091204 | NS      | $304762365.16  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS INC          | CBOE GLOBAL MARKETS INC                         | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |    210000 | NS      | $51502500.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS-SONOMA INC              | WILLIAMS-SONOMA INC                             | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |    273172 | NS      | $53391467.40   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ASAPP INC                        | ASAPP INC SER D PC PP                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   4123720 | NS      | $5319598.80    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ANTHROPIC PBC                    | ANTHROPIC PBC SERIES F PC PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     44800 | NS      | $6315456.00    | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ILLUMINATED HOLDINGS INC         | ILLUMINATED HOLDINGS INC SER C-2 PC PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    137249 | NS      | $1594833.38    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CONSTELLATION ENERGY CORP        | CONSTELLATION ENERGY CORP                       | CUSIP: 21037T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68200 | NS      | $22442574.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCADOLIBRE INC                 | MERCADOLIBRE INC                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |     35182 | NS      | $82218223.08   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                        | BOEING CO                                       | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |    381988 | NS      | $82444470.04   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                           | UCB SA                                          | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |    373700 | NS      | $103104484.06  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| X.AI HOLDINGS CORP               | X.AI HOLDINGS CORP SER C PC PP                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    356400 | NS      | $13029984.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NETFLIX INC                      | NETFLIX INC                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    240664 | NS      | $288536882.88  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC      | ALNYLAM PHARMACEUTICALS INC                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    365024 | NS      | $166450944.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                   | MORGAN STANLEY                                  | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    771703 | NS      | $122669908.88  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ADAMAS PHARMACEUTICALS INC       | ADAMAS PHARMACEUTICALS INC (CVR) RT (WORTHLESS) | CUSIP: N/A<br>LEI: 529900JBG6S9MXH83I79       | Long             | EC               | CORP              | US        |   1781700 | NS      | $17.82         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| CVS HEALTH CORP                  | CVS HEALTH CORP                                 | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    449800 | NS      | $33910422.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC                      | SHOPIFY INC CL A                                | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    384400 | NS      | $57125684.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust     | Fidelity Securities Lending Cash Central Fund   | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  38186698 | NS      | $38190516.52   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX CORP                      | ROBLOX CORP                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    382700 | NS      | $53011604.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                      | NVIDIA CORP                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   8601976 | NS      | $1604956682.08 | 13.62%            |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS INC                    | VEEVA SYS INC CL A                              | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    122500 | NS      | $36493975.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                   | MASTERCARD INC CL A                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |    824079 | NS      | $468744375.99  | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| GAMIDA CELL LTD                  | GAMIDA CELL LTD CVR RT                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IL        |   2212268 | NS      | $22.12         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BANK OF AMERICA CORPORATION      | BANK OF AMERICA CORPORATION                     | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   1413900 | NS      | $72943101.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC           | ANDURIL INDUSTRIES INC CL C PP                  | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EC               | CORP              | US        |         1 | NS      | $40.88         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SK HYNIX INC                     | SK HYNIX INC                                    | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |    311440 | NS      | $77060017.23   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB INC                       | AIRBNB INC CLASS A                              | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |    161100 | NS      | $19560762.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INC                       | INSMED INC                                      | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    222645 | NS      | $32063106.45   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| REDDIT INC                       | REDDIT INC A                                    | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |    162200 | NS      | $37304378.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ZILLOW GROUP INC                 | ZILLOW GROUP INC CL C                           | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    687700 | NS      | $52987285.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANCO NEVADA CORP               | FRANCO-NEVADA CORP                              | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |    267500 | NS      | $59541190.63   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ROSS STORES INC                  | ROSS STORES INC                                 | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    236700 | NS      | $36070713.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| HILTON WORLDWIDE HOLDINGS INC    | HILTON WORLDWIDE HOLDINGS INC                   | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |    293991 | NS      | $76273025.04   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| INSULET CORP                     | INSULET CORP                                    | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |    187500 | NS      | $57886875.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ANDURIL INDUSTRIES INC           | ANDURIL INDUSTRIES INC SER G PC PP              | CUSIP: N/A<br>LEI: 254900CIXLZUXXNYQW57       | Long             | EP               | CORP              | US        |     12300 | NS      | $502824.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| VISTRA CORP                      | VISTRA CORP                                     | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    152000 | NS      | $29779840.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVATEBIO, LLC                  | ELEVATEBIO LLC SER C PC PP                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    198400 | NS      | $414656.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AUTO1 GROUP SE                   | AUTO1 GROUP SE                                  | CUSIP: N/A<br>LEI: 391200S2LPXG5ZD5G304       | Long             | EC               | CORP              | DE        |   1540400 | NS      | $52446692.02   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE SA                          | VALE SA ADR                                     | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |   1713000 | NS      | $18603180.00   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                     | ALPHABET INC CL A                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   2409776 | NS      | $585816545.60  | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECHNOLOGIES INC            | UBER TECHNOLOGIES INC                           | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     12278 | NS      | $1202875.66    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY INC              | CHENIERE ENERGY INC                             | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |    335626 | NS      | $78865397.48   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer