# EDGAR Filing Document

**Accession Number:** 0000831016
**File Stem:** 0000035402-26-001305
**Filing Date:** 2026-2
**Character Count:** 23755
**Document Hash:** 8df1fcab5f8b962d1313bece197e43cd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-26-001305.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0000035402-26-001305

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**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:** 26670437

**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:** 2025-12-31

**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:** $1384442080.39

**Total Liabilities:** $6543112.00

**Net Assets:** $1377898968.39

**Cash Not Reported:** $121465.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121075 | 3.39%                | -1.01%               | 3.33%                |
| Class ID C000121074 | 3.41%                | -1.02%               | 3.33%                |
| Class ID C000121072 | 3.39%                | -1.01%               | 3.38%                |
| Class ID C000121076 | 3.34%                | -1.01%               | 3.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18025822.78             | $29585216.92                               |
| Month 2  | $7727134.41              | $-23395704.38                              |
| Month 3  | $17871227.74             | $23624257.85                               |

### 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        |  12884700 | NS      | $40162055.31  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA CONSTRUCTION BANK CORP                        | CHINA CONSTRUCTION BANK CORP H                | CUSIP: N/A<br>LEI: 5493001KQW6DM7KEDR62       | Long             | EC               | CORP              | CN        |  27464000 | NS      | $27184169.52  | 1.97%             |  |  |  | No            |                  2 | On Loan: No      |
| CONTEMPORARY AMPEREX TECHNOLOGY CO LTD              | CONTEMPORARY AMPEREX TECHNOLOGY CO LTD A      | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |    268200 | NS      | $14083980.15  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                          | SAMSUNG ELECTRONICS CO LTD                    | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |   1505820 | NS      | $126150601.83 | 9.16%             |  |  |  | No            |                  2 | On Loan: No      |
| RICHTER GEDEON NYRT                                 | RICHTER GEDEON NYRT                           | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               | CORP              | HU        |    642841 | NS      | $19391606.67  | 1.41%             |  |  |  | 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        |   5282000 | NS      | $11103282.92  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ADNOC GAS PLC                                       | ADNOC GAS PLC                                 | CUSIP: N/A<br>LEI: 254900O5NS03BDOOM362       | Long             | EC               | CORP              | AE        |  20781500 | NS      | $20086944.39  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ECLAT TEXTILE CO LTD                                | ECLAT TEXTILE CO LTD                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   1266000 | NS      | $15526186.53  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDICORP LTD                                       | CREDICORP LTD                                 | CUSIP: N/A<br>LEI: 529900UYAEYQCQ2BKB17       | Long             | EC               | CORP              | BM        |    123400 | NS      | $35415800.00  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDIATEK INC                                        | MEDIA TEK INC                                 | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    797000 | NS      | $36352066.85  | 2.64%             |  |  |  | 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        |  11502863 | NS      | $40467753.99  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI MOBIS CO LTD                                | HYUNDAI MOBIS                                 | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               | CORP              | KR        |     74930 | NS      | $19433766.53  | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                            | ITAU UNIBANCO HOLDING SA                      | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EC               | CORP              | BR        |   2074517 | NS      | $14851645.04  | 1.08%             |  |  |  | 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        |   5850770 | NS      | $15934835.59  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GERDAU SA                                           | GERDAU SA SPON ADR                            | CUSIP: 373737105<br>LEI: 254900YDV6SEQQPZVG24 | Long             | EC               | CORP              | BR        |   3791560 | NS      | $13990856.40  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TAL ED GROUP                                        | TAL ED GROUP ADR                              | CUSIP: 874080104<br>LEI: 5493003PJZS0EC085V72 | Long             | EC               | CORP              | KY        |   1020500 | NS      | $11133655.00  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Name : iShares Ultra Short-Term Bond Active ETF | iShares MSCI Saudi Arabia ETF                 | CUSIP: 46434V423<br>LEI: 549300G3FWQPUM47D181 | Long             | EC               | RF                | US        |    423698 | NS      | $15426844.18  | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| BYD CO LTD                                          | BYD COMPANY LTD H                             | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |   1279200 | NS      | $15632794.72  | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                           | ALIBABA GROUP HOLDING LTD SPON ADR            | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    186900 | NS      | $27395802.00  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| WUXI APPTEC CO LTD                                  | WUXI APPTEC CO LTD H                          | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175       | Long             | EC               | CORP              | CN        |   1175900 | NS      | $14912733.37  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| YAPI VE KREDI BANKASI                               | YAPI VE KREDI BANKASI                         | CUSIP: N/A<br>LEI: B85ZYWEZ5IZCZ2WNIO12       | Long             | EC               | CORP              | TR        |  16325000 | NS      | $13775954.06  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CIMB GROUP HOLDINGS BERHAD                          | CIMB GROUP HOLDINGS BERHAD                    | CUSIP: N/A<br>LEI: 549300FYDN5UD7USZW18       | Long             | EC               | CORP              | MY        |  11352200 | NS      | $23079263.18  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD HOLDINGS INC                                    | PDD HOLDINGS INC ADR                          | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |    260900 | NS      | $29583451.00  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JK CEMENT LTD                                       | JK CEMENT LTD                                 | CUSIP: N/A<br>LEI: 335800IECEF3EIDGF809       | Long             | EC               | CORP              | IN        |    249500 | NS      | $15356708.06  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK CENTRAL ASIA TBK PT                            | BANK CENTRAL ASIA                             | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |  43035100 | NS      | $20781508.59  | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| YAGEO CORP                                          | YAGEO CORP                                    | CUSIP: N/A<br>LEI: 5493001P0TOZH7GGNQ21       | Long             | EC               | CORP              | TW        |   2502204 | NS      | $18436116.48  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SHANGRI LA ASIA LTD                                 | SHANGRI-LA ASIA LTD                           | CUSIP: N/A<br>LEI: 529900FVJ8C1OTM8OL03       | Long             | EC               | CORP              | BM        |  11032000 | NS      | $6733138.88   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIJIN MINING GROUP CO LIMITED                       | ZIJIN MINING GROUP CO LTD A                   | CUSIP: N/A<br>LEI: 529900ABI5CBFXD01Q05       | Long             | EC               | CORP              | CN        |   4472666 | NS      | $22044525.36  | 1.60%             |  |  |  | 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        |   4044797 | NS      | $15089116.45  | 1.10%             |  |  |  | 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        |   1334800 | NS      | $27590316.00  | 2.00%             |  |  |  | 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        |    500900 | NS      | $17871687.48  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| EUROBANK SA                                         | EUROBANK SA                                   | CUSIP: N/A<br>LEI: 213800KGF4EFNUQKAT69       | Long             | EC               | CORP              | GR        |   5041400 | NS      | $20291937.54  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HLDGS LTD                                   | TENCENT HOLDINGS LTD                          | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |   1327005 | NS      | $101839060.64 | 7.39%             |  |  |  | No            |                  2 | On Loan: No      |
| SHENZHEN INOVANCE TECHNOLOGY CO LTD                 | SHENZHEN INOVANCE TECHNOLOGY CO LTD A         | CUSIP: N/A<br>LEI: 836800KA53998FUTIA85       | Long             | EC               | CORP              | CN        |   2724235 | NS      | $29343069.13  | 2.13%             |  |  |  | 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        |   1831900 | NS      | $27987035.52  | 2.03%             |  |  |  | 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        |   2497175 | NS      | $123022545.81 | 8.93%             |  |  |  | No            |                  2 | On Loan: No      |
| MTN GROUP LTD                                       | MTN GROUP LTD                                 | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               | CORP              | ZA        |   1908419 | NS      | $19533636.50  | 1.42%             |  |  |  | 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        |    161180 | NS      | $16290462.60  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust                        | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  17151723 | NS      | $17155153.82  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| LARSEN and TOUBRO LTD                               | LARSEN and TOUBRO LTD                         | CUSIP: N/A<br>LEI: 3358003FR3JIC5FRXA90       | Long             | EC               | CORP              | IN        |    655808 | NS      | $29801161.43  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTOFAGASTA PLC                                     | ANTOFAGASTA PLC                               | CUSIP: N/A<br>LEI: 213800MY6QVH4FVLD628       | Long             | EC               | CORP              | GB        |    381600 | NS      | $16866445.44  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LTD                                       | HDFC BANK LTD (DEMAT)                         | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |   2453730 | NS      | $27065246.44  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD ASHANTI PLC                               | ANGLOGOLD ASHANTI PLC                         | CUSIP: N/A<br>LEI: 2138005YDSA7A82RNU96       | Long             | EC               | CORP              | GB        |    280300 | NS      | $23903984.00  | 1.73%             |  |  |  | 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        |   1096900 | NS      | $11769737.00  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPALA PLATINUM HOLDINGS LTD                        | IMPALA PLATINUM HOLDINGS LTD                  | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               | CORP              | ZA        |   1266016 | NS      | $19895640.35  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| OTP BANK PLC                                        | OTP BANK (REG)                                | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               | CORP              | HU        |    216500 | NS      | $23236898.08  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| HANSOH PHARMACEUTICAL GROUP CO LTD                  | HANSOH PHARMACETICAL GROUP                    | CUSIP: N/A<br>LEI: 254900Q6MR00EBXTPF42       | Long             | EC               | CORP              | KY        |   2590000 | NS      | $12007041.26  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust                        | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   5363230 | NS      | $5363766.28   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MEITUAN                                             | MEITUAN CL B                                  | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |   1977060 | NS      | $26200393.10  | 1.90%             |  |  |  | No            |                  2 | On Loan: No      |
| HIWIN TECHNOLOGIES CORP                             | HIWIN TECHNOLOGIES CORP                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TW        |   1578967 | NS      | $9770336.76   | 0.71%             |  |  |  | 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      | $10936208.58  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTRAND LIMITED                                   | FIRSTRAND LIMITED                             | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |   2855100 | NS      | $15646154.89  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA AEROSPACE INDUSTRIES LTD                      | KOREA AEROSPACE INDUSTRIES LTD                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    230370 | NS      | $18244281.53  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| VALE SA                                             | VALE SA ADR                                   | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |   1029600 | NS      | $13415688.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LTD                                      | ICICI BANK LTD (DEMAT)                        | CUSIP: N/A<br>LEI: R7RX8ER1V4666J8D1I38       | Long             | EC               | CORP              | IN        |   1304900 | NS      | $19533673.72  | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer