# EDGAR Filing Document

**Accession Number:** 0000831016
**File Stem:** 0001752724-23-034921
**Filing Date:** 2023-2
**Character Count:** 22880
**Document Hash:** 13343034b1b6882630f2835bfdf38e4a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-034921.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001752724-23-034921

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE INSURANCE PRODUCTS FUND II
- **CENTRAL INDEX KEY:** 0000831016
- **IRS NUMBER:** 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:** 23656993

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $998848138.53

**Total Liabilities:** $17967145.60

**Net Assets:** $980880992.93

**Cash Not Reported:** $5012460.27

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121075 | -3.16%               | 18.41%               | -1.03%               |
| Class ID C000121074 | -3.07%               | 18.29%               | -0.98%               |
| Class ID C000121072 | -3.16%               | 18.30%               | -0.98%               |
| Class ID C000121076 | -3.17%               | 18.22%               | -1.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-3089297.17             | $-23099927.97                              |
| Month 2  | $-2695272.38             | $161036866.29                              |
| Month 3  | $-6453547.56             | $-5390804.68                               |

### 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        |   2417500 | NS      | $8509292.33   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                       | SAMSUNG ELECTRONICS CO LTD                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |   1773960 | NS      | $77913094.72  | 7.94%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCALIZA RENT A CAR SA                           | LOCALIZA RENT A CAR SA                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    927500 | NS      | $9345707.66   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| RICHTER GEDEON PLC                               | RICHTER GEDEON VEGYESZETI NY                  | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |   1099741 | NS      | $24471612.54  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ABSA GROUP LTD                                   | ABSA GROUP LTD                                | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               | CORP              | ZA        |   1250100 | NS      | $14195656.88  | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| AXIS BANK LTD                                    | AXIS BK LTD                                   | CUSIP: N/A<br>LEI: 549300HVNWMJPOFVNI41       | Long             | EC               | CORP              | IN        |   1659100 | NS      | $18667648.05  | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ECLAT TEXTILE CO LTD                             | ECLAT TEXTILE CO LTD                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |    896000 | NS      | $14385682.84  | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDICORP LTD                                    | CREDICORP LTD                                 | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |    105700 | NS      | $14339262.00  | 1.46%             |  |  |  | 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        |  24072863 | NS      | $41086176.82  | 4.19%             |  |  |  | No            |                  2 | On Loan: No      |
| HOUSING DEVELOPMENT FINANCE CORP LTD             | HOUSING DEV FN CORP LTD(DEMAT)                | CUSIP: N/A<br>LEI: 335800OX2H9AP7NHLT64       | Long             | EC               | CORP              | IN        |   1115659 | NS      | $35461660.25  | 3.62%             |  |  |  | No            |                  2 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                         | ITAU UNIBANCO HOLDING SA                      | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |   2466950 | NS      | $11681187.56  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LUKOIL PJSC                                      | LUKOIL PJSC SPONS ADR                         | CUSIP: 69343P105<br>LEI: 549300LCJ1UJXHYBWI24 | Long             | EC               | CORP              | RU        |    437463 | NS      | $123753.91    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| LOCALIZA RENT A CAR SA                           | LOCALIZA RENT A CAR SA RT 01/31/23            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |      2802 | NS      | $5710.41      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI MIPO DOCKYARD CO LTD                     | HYUNDAI MIPO DOCKYARD                         | CUSIP: N/A<br>LEI: 988400L1JDH871AJTA03       | Long             | EC               | CORP              | KR        |    158255 | NS      | $10620761.34  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ZHEJIANG SANHUA CO LTD                           | ZHEJIANG SANHUA CO LTD A                      | CUSIP: N/A<br>LEI: 8368003UTQ4F88XERZ23       | Long             | EC               | CORP              | CN        |   1655482 | NS      | $5081505.73   | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| BARRICK GOLD CORP                                | BARRICK GOLD CORP                             | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |   1545700 | NS      | $26555126.00  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| LI NING CO LTD                                   | LI NING CO LTD                                | CUSIP: N/A<br>LEI: 529900T77L2FV3FZ3U81       | Long             | EC               | CORP              | KY        |   1200237 | NS      | $10320844.22  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                        | ALIBABA GROUP HOLDING LTD                     | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |   2628800 | NS      | $28845594.78  | 2.94%             |  |  |  | No            |                  2 | On Loan: No      |
| SOLAR INDUSTRIES INDIA LTD                       | SOLAR INDUSTRIES INDIA LTD                    | CUSIP: N/A<br>LEI: 3358002ANWRT2YJ79L60       | Long             | EC               | CORP              | IN        |    422017 | NS      | $22354948.26  | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| TSINGTAO BREWERY CO LTD                          | TSINGTAO BREWERY CO LTD H                     | CUSIP: N/A<br>LEI: 300300OJ7D0Q1ESE8L15       | Long             | EC               | CORP              | CN        |    702000 | NS      | $6912665.34   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| YAGEO CORP                                       | YAGEO CORP                                    | CUSIP: N/A<br>LEI: 5493001P0TOZH7GGNQ21       | Long             | EC               | CORP              | TW        |    763292 | NS      | $11126336.60  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| SHANGRI LA ASIA LTD                              | SHANGRI-LA ASIA LTD                           | CUSIP: N/A<br>LEI: 529900FVJ8C1OTM8OL03       | Long             | EC               | CORP              | BM        |  11550000 | NS      | $9424035.04   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| UTD TRACTORS TBK PT                              | UNITED TRACTORS PT                            | CUSIP: N/A<br>LEI: 529900N9ELYOWQV4FW14       | Long             | EC               | CORP              | ID        |   4745700 | NS      | $7955097.61   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA RESOURCES BEER (HOLDINGS) CO LTD           | CHINA RESOURCES BEER (HOLDINGS) CO LTD        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    696505 | NS      | $4844597.81   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK MANDIRI PERSERO TBK PT                      | BANK MANDIRI (PERSERO) PT                     | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |  12964138 | NS      | $8267161.50   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| HAIER SMART HOME CO LTD                          | HAIER SMART HOME CO LTD                       | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07       | Long             | EC               | CORP              | CN        |   8214997 | NS      | $29012973.06  | 2.96%             |  |  |  | No            |                  2 | On Loan: No      |
| SBERBANK OF RUSSIA PJSC                          | SBERBANK SPONSORED ADR                        | CUSIP: 80585Y308<br>LEI: 549300WE6TAF5EEWQS81 | Long             | EC               | CORP              | RU        |   1813510 | NS      | $32280.48     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GUANGZHOU AUTOMOBILE GROUP COMPANY LTD           | GUANGZHOU AUTOMOB GRP CO LTD H                | CUSIP: N/A<br>LEI: 5299005KY9BJO3ZE6A37       | Long             | EC               | CORP              | CN        |  17532000 | NS      | $11741370.07  | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| KASIKORNBANK PCL                                 | KASIKORNBANK PCL (FOR)                        | CUSIP: N/A<br>LEI: 5493004COSQ54937AW41       | Long             | EC               | CORP              | TH        |   3449200 | NS      | $14706935.06  | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| POSCO HOLDINGS INC                               | POSCO HOLDINGS INC                            | CUSIP: N/A<br>LEI: 988400E5HRVX81AYLM04       | Long             | EC               | CORP              | KR        |    108530 | NS      | $23833424.01  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                                | TENCENT HOLDINGS LTD                          | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |   1951605 | NS      | $82748762.09  | 8.44%             |  |  |  | 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        |   1019700 | NS      | $10252733.81  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF GREECE SA                       | NATIONAL BANK OF GREECE SA                    | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               | CORP              | GR        |   4842400 | NS      | $19422750.85  | 1.98%             |  |  |  | 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        |   5397175 | NS      | $78397151.08  | 7.99%             |  |  |  | No            |                  2 | On Loan: No      |
| MTN GROUP LTD                                    | MTN GROUP LTD                                 | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |   1290977 | NS      | $9641983.38   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                     | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  13423015 | NS      | $13425699.68  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| LARSEN and TOUBRO LTD                            | LARSEN and TOUBRO LTD                         | CUSIP: N/A<br>LEI: 3358003FR3JIC5FRXA90       | Long             | EC               | CORP              | IN        |   1059093 | NS      | $26614929.48  | 2.71%             |  |  |  | No            |                  2 | On Loan: No      |
| AMBEV SA                                         | AMBEV SA-SPN ADR                              | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |   3566900 | NS      | $9701968.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JD.COM INC                                       | JD.COM INC CL A                               | CUSIP: N/A<br>LEI: 549300HVTWB0GJZ16V92       | Long             | EC               | CORP              | KY        |   1287713 | NS      | $35948622.07  | 3.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BEIGENE LTD                                      | BEIGENE LTD SP ADR                            | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | KY        |     48800 | NS      | $10733072.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: —       |
| IMPALA PLATINUM HOLDINGS LTD                     | IMPALA PLATINUM HOLDINGS LTD                  | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               | CORP              | ZA        |   1584016 | NS      | $19906120.97  | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HYUNDAI MOTOR CO                                 | HYUNDAI MOTOR CO                              | CUSIP: N/A<br>LEI: 9884004RQX8PRBXQ8S60       | Long             | EC               | CORP              | KR        |    119670 | NS      | $14351712.94  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| INDUSTRIAL and COMMERCIAL BANK OF CHINA          | INDUSTRIAL and COM BK OF CHINA H              | CUSIP: N/A<br>LEI: 5493002ERZU2K9PZDL40       | Long             | EC               | CORP              | CN        |  34018635 | NS      | $17447806.55  | 1.78%             |  |  |  | No            |                  2 | On Loan: No      |
| HANSOH PHARMACEUTICAL GROUP CO LTD               | HANSOH PHARMACETICAL GROUP                    | CUSIP: N/A<br>LEI: 254900Q6MR00EBXTPF42       | Long             | EC               | CORP              | KY        |   8122000 | NS      | $15343496.36  | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Revere Street Trust                     | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   4996250 | NS      | $4996750.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED | SUNNY OPTICAL TEC(GROUP)CO LTD                | CUSIP: N/A<br>LEI: 3003004QIVP0DFVVWM94       | Long             | EC               | CORP              | KY        |    829800 | NS      | $9786566.60   | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE PETROL RAFINERILE AS                     | TUPRAS TURKIY PETROL RAFINE AS                | CUSIP: N/A<br>LEI: 789000RCNG97UV50EE03       | Long             | EC               | CORP              | TR        |    347000 | NS      | $9831720.78   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MEITUAN                                          | MEITUAN CL B                                  | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |   1251600 | NS      | $27730243.32  | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| HIWIN TECHNOLOGIES CORP                          | HIWIN TECHNOLOGIES CORP                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   1867967 | NS      | $11057866.30  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| BHARAT HEAVY ELECTRICALS LTD                     | BHARAT HEAVY ELECT LTD (DEMAT)                | CUSIP: N/A<br>LEI: 3358007X5FQ2R445Z747       | Long             | EC               | CORP              | IN        |  10465100 | NS      | $10006223.05  | 1.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPO FINANCIERO BANORTE SAB DE CV               | GRUPO FINANCIERO BANORTE SAB                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |   1029868 | NS      | $7394289.99   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PETROLEO BRASILEIRO-PETROBRAS                    | PETROLEO BRASILEIRO SPONS ADR                 | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               | CORP              | BR        |    895247 | NS      | $9534380.55   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA AEROSPACE INDUSTRIES LTD                   | KOREA AEROSPACE INDUSTRIES LTD                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    470580 | NS      | $19023601.87  | 1.94%             |  |  |  | No            |                  1 | On Loan: —       |
| SHREE CEMENT LTD                                 | SHREE CEMENTS LTD                             | CUSIP: N/A<br>LEI: 335800W6FNBDUZ89L830       | Long             | EC               | CORP              | IN        |     44301 | NS      | $12442746.50  | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| YANDEX NV                                        | YANDEX NV CL A                                | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |    446500 | NS      | $1531423.56   | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer