# EDGAR Filing Document

**Accession Number:** 0000831016
**File Stem:** 0001752724-25-198591
**Filing Date:** 2025-8
**Character Count:** 22563
**Document Hash:** 0d48004fc252bc076894859ac52eb1ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-198591.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001752724-25-198591

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE INSURANCE PRODUCTS FUND II
- **CENTRAL INDEX KEY:** 0000831016

**ORGANIZATION NAME:**
- **EIN:** 042708937
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05511
- **FILM NUMBER:** 251243412

**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

## Series and Classes Contracts Data

### Emerging Markets Portfolio (Series ID: S000039296)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000121072 | Initial Class   |  |
| C000121074 | Investor Class  |  |
| C000121075 | Service Class   |  |
| C000121076 | Service Class 2 |  |

## 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 II

- **b. Investment Company Act file number:** 811-05511

- **c. CIK number of Registrant:** 0000831016

- **d. LEI of Registrant:** D8TUF5IXYLDDLCD6AV58

- **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 Emerging Markets Portfolio

- **b. EDGAR series identifier (if any):** S000039296

- **c. LEI of Series:** 549300EHIR2LJPJ21P04

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1235265268.56

**Total Liabilities:** $19415834.84

**Net Assets:** $1215849433.72

**Cash Not Reported:** $186465.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121075 | -1.63%               | 4.31%                | 5.80%                |
| Class ID C000121074 | -1.72%               | 4.34%                | 5.84%                |
| Class ID C000121072 | -1.63%               | 4.32%                | 5.81%                |
| Class ID C000121076 | -1.64%               | 4.24%                | 5.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $10834014.97             | $-30509788.15                              |
| Month 2  | $-5482718.17             | $49400099.18                               |
| Month 3  | $802480.78               | $61494636.68                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| WAL MART DE MEXICO SAB DE CV               | WAL MART DE MEXICO SAB DE CV V                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |  13265800 | NS      | $43937726.56  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORP               | CHINA CONSTRUCTION BANK CORP H                | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |  20201000 | NS      | $20381266.12  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                 | SAMSUNG ELECTRONICS CO LTD                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |   1701850 | NS      | $75209883.57  | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCALIZA RENT A CAR SA                     | LOCALIZA RENT A CAR SA                        | CUSIP: N/A<br>LEI: 984500C442A7E0CD4D11       | Long             | EC               | CORP              | BR        |   2251800 | NS      | $16793899.62  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| RICHTER GEDEON NYRT                        | RICHTER GEDEON NYRT                           | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |    642841 | NS      | $18948624.74  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PICC PPTY and CAS CO LTD                   | PICC PROPERTY and CASUALTY CO H               | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               | CORP              | CN        |   7422000 | NS      | $14371352.68  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC GAS PLC                              | ADNOC GAS PLC                                 | CUSIP: N/A<br>LEI: 254900O5NS03BDOOM362       | Long             | EC               | CORP              | AE        |  19762300 | NS      | $18403056.69  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ECLAT TEXTILE CO LTD                       | ECLAT TEXTILE CO LTD                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   1288000 | NS      | $18073171.57  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDICORP LTD                              | CREDICORP LTD                                 | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |    116500 | NS      | $26040080.00  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIATEK INC                               | MEDIA TEK INC                                 | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    385000 | NS      | $16470447.31  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA LIFE INSURANCE CO LTD                | CHINA LIFE INS CO LTD H                       | CUSIP: N/A<br>LEI: 549300J6TFLDXGH6S048       | Long             | EC               | CORP              | CN        |  17179863 | NS      | $41231933.82  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI MOBIS CO LTD                       | HYUNDAI MOBIS                                 | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |     77280 | NS      | $16390849.53  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                   | ITAU UNIBANCO HOLDING SA                      | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |   3465795 | NS      | $23570544.49  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                                | LUKOIL PJSC SPONS ADR                         | CUSIP: 69343P105<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |    437463 | NS      | $4.37         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ASTOR TRANSFORMATOR ENERJI T               | ASTOR TRANSFORMATOR ENERJI T                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TR        |   3753270 | NS      | $8761581.12   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| GERDAU SA                                  | GERDAU SA SPON ADR                            | CUSIP: 373737105<br>LEI: 254900YDV6SEQQPZVG24 | Long             | EC               | CORP              | BR        |   5548760 | NS      | $16202379.20  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TAL ED GROUP                               | TAL ED GROUP ADR                              | CUSIP: 874080104<br>LEI: 5493003PJZS0EC085V72 | Long             | EC               | CORP              | KY        |   1181100 | NS      | $12070842.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| EUROBANK ERGASIAS SERVICES AND HOLDINGS SA | EUROBANK ERGASIAS SERVICES AND HOLDINGS SA    | CUSIP: N/A<br>LEI: JEUVK5RWVJEN8W0C9M24       | Long             | EC               | CORP              | GR        |   4838200 | NS      | $16664124.57  | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                  | ALIBABA GROUP HOLDING LTD SPON ADR            | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    180500 | NS      | $20470505.00  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| WUXI APPTEC CO LTD                         | WUXI APPTEC CO LTD H                          | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | CN        |   2251900 | NS      | $22562173.64  | 1.86%             |  |  |  | No            |                  1 | On Loan: —       |
| CIMB GROUP HOLDINGS BERHAD                 | CIMB GROUP HOLDINGS BERHAD                    | CUSIP: N/A<br>LEI: 549300FYDN5UD7USZW18       | Long             | EC               | CORP              | MY        |   7757100 | NS      | $12504916.67  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD HOLDINGS INC                           | PDD HOLDINGS INC ADR                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |    237900 | NS      | $24898614.00  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JK CEMENT LTD                              | JK CEMENT LTD                                 | CUSIP: N/A<br>LEI: 335800IECEF3EIDGF809       | Long             | EC               | CORP              | IN        |    251200 | NS      | $18026604.43  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| YAGEO CORP                                 | YAGEO CORP                                    | CUSIP: N/A<br>LEI: 5493001P0TOZH7GGNQ21       | Long             | EC               | CORP              | TW        |    658051 | NS      | $10922849.34  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CEMEX SAB DE CV                            | CEMEX SAB DE CV SPON ADR                      | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |   2128300 | NS      | $14749119.00  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| POWSZECHNA KASA OSZCZ BK SA                | POWSZECHNA KASA OSZCZ BK SA                   | CUSIP: N/A<br>LEI: P4GTT6GF1W40CVIMFR43       | Long             | EC               | CORP              | PL        |    734700 | NS      | $15336698.16  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SHANGRI LA ASIA LTD                        | SHANGRI-LA ASIA LTD                           | CUSIP: N/A<br>LEI: 529900FVJ8C1OTM8OL03       | Long             | EC               | CORP              | BM        |  12930000 | NS      | $7033305.94   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| HAIER SMART HOME CO LTD                    | HAIER SMART HOME CO LTD                       | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |   4240597 | NS      | $14668368.78  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICA MOVIL SAB DE CV                    | AMERICA MOVIL SAB DE CV SPON ADR              | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |   1056100 | NS      | $18946434.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SBERBANK OF RUSSIA PJSC                    | SBERBANK SPONSORED ADR                        | CUSIP: 80585Y308<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |   1813510 | NS      | $18.14        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TATA CONSULTANCY SERVICES LTD              | TATA CONSULTANCY SERVICES LTD                 | CUSIP: N/A<br>LEI: 335800ZJKU9GPQRE2U66       | Long             | EC               | CORP              | IN        |    406100 | NS      | $16405113.19  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                          | TENCENT HOLDINGS LTD                          | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |   1549805 | NS      | $99862636.59  | 8.21%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHEN INOVANCE TECHNOLOGY CO LTD        | SHENZHEN INOVANCE TECHNOLOGY CO LTD A         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |   2997833 | NS      | $27020397.80  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BANK OF GREECE SA                 | NATIONAL BANK OF GREECE SA                    | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |   2224400 | NS      | $28377112.26  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MFG CO LTD            | TAIWAN SEMICONDUCTOR MFG CO LTD               | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   2716175 | NS      | $99304969.17  | 8.17%             |  |  |  | No            |                  2 | On Loan: No      |
| MTN GROUP LTD                              | MTN GROUP LTD                                 | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |   2320819 | NS      | $18462989.36  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FOMENTO ECONOMICO MEXICANO SAB DE CV       | FOMENTO ECONO MEX(FEMSA)SP ADR                | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |    158700 | NS      | $16342926.00  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust               | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  19876878 | NS      | $19880853.81  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| LARSEN and TOUBRO LTD                      | LARSEN and TOUBRO LTD                         | CUSIP: N/A<br>LEI: 3358003FR3JIC5FRXA90       | Long             | EC               | CORP              | IN        |    513908 | NS      | $22006296.13  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTOFAGASTA PLC                            | ANTOFAGASTA PLC                               | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |    531800 | NS      | $13208902.52  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD                              | HDFC BANK LTD (DEMAT)                         | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |   1380615 | NS      | $32243884.74  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD ASHANTI PLC                      | ANGLOGOLD ASHANTI PLC                         | CUSIP: N/A<br>LEI: 2138005YDSA7A82RNU96       | Long             | EC               | CORP              | GB        |    524400 | NS      | $23896908.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FULL TRUCK ALLIANCE CO LTD                 | FULL TRUCK ALLIANCE CO LTD ADR                | CUSIP: 35969L108<br>LEI: 984500884LB1DP8DAC57 | Long             | EC               | CORP              | KY        |   1131800 | NS      | $13366558.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPALA PLATINUM HOLDINGS LTD               | IMPALA PLATINUM HOLDINGS LTD                  | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               | CORP              | ZA        |   3045316 | NS      | $27362934.49  | 2.25%             |  |  |  | No            |                  2 | On Loan: No      |
| OTP BANK PLC                               | OTP BANK (REG)                                | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |    253400 | NS      | $20241841.90  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| HANSOH PHARMACEUTICAL GROUP CO LTD         | HANSOH PHARMACETICAL GROUP                    | CUSIP: N/A<br>LEI: 254900Q6MR00EBXTPF42       | Long             | EC               | CORP              | KY        |   5270000 | NS      | $19972420.21  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust               | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  18373197 | NS      | $18375034.80  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MEITUAN                                    | MEITUAN CL B                                  | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |   1101760 | NS      | $17722957.02  | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| HIWIN TECHNOLOGIES CORP                    | HIWIN TECHNOLOGIES CORP                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   1685967 | NS      | $12117220.64  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO FINANCIERO BANORTE SAB DE CV         | GRUPO FINANCIERO BANORTE SAB                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   1179668 | NS      | $10782949.47  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEO BRASILEIRO-PETROBRAS              | PETROLEO BRASILEIRO SPONS ADR                 | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |   1556947 | NS      | $19477406.97  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTRAND LIMITED                          | FIRSTRAND LIMITED                             | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |   2894000 | NS      | $12372907.43  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA AEROSPACE INDUSTRIES LTD             | KOREA AEROSPACE INDUSTRIES LTD                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    301110 | NS      | $19982690.82  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE SA                                    | VALE SA ADR                                   | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |   1911900 | NS      | $18564549.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LTD                             | ICICI BANK LTD (DEMAT)                        | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |   1361900 | NS      | $23031873.85  | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer