Form NPORT-P VARIABLE INSURANCE PRODU For: Mar 31

May 25, 2022 12:16 PM EDT

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          0000720318
          XXXXXXXX
        
      
      
      
      
        S000007753
        C000021085
        C000021086
        C000021084
        C000021083
      
      
      
    
  
  
    
      Variable Insurance Products Fund IV
      811-03759
      0000720318
      Q4ATLOQB94VR31F8C557
      245 Summer Street
      Boston
      
      02210
      1-800-FIDELITY
      VIP Real Estate Portfolio
      S000007753
      3JUR81NJE3723W6I1B78
      2022-12-31
      2022-03-31
      N
    
    
      472229616.37
      6289572.12
      465940044.25
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
        
        
      
      N
      
        
          
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        EQUINIX INC
        549300EVUN2BTLJ3GT74
        EQUINIX INC
        29444U700
        
          
        
        40400.00000000
        NS
        USD
        29961448.00000000
        6.430322606898
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ALEXANDRIA REAL ESTATE EQUITIES INC
        MGCJBT4MKTQBVLNUIS88
        ALEXANDRIA REAL ES EQ INC REIT
        015271109
        
          
        
        57000.00000000
        NS
        USD
        11471250.00000000
        2.461958387471
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        FOUR CORNERS PROPERTY TRUST INC
        549300SVTPZPBDVNER42
        FOUR CORNERS PPTY TR INC W/I
        35086T109
        
          
        
        484800.00000000
        NS
        USD
        13108992.00000000
        2.813450391691
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DIGITALBRIDGE GROUP INC
        549300XG87L902AGBO89
        DIGITALBRIDGE GROUP INC
        25401T108
        
          
        
        627400.00000000
        NS
        USD
        4517280.00000000
        0.969498126582
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TERRENO RLTY CORP
        N/A
        TERRENO REALTY CORP
        88146M101
        
          
        
        62700.00000000
        NS
        USD
        4642935.00000000
        0.996466188578
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WELLTOWER INC
        T6IZ0MBEG5ACZDTR7D06
        WELLTOWER INC
        95040Q104
        
          
        
        130300.00000000
        NS
        USD
        12527042.00000000
        2.688552348009
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RYMAN HOSPITALITY PPTYS INC
        529900GCCWW9SRMPJR11
        RYMAN HOSPITALITY PPTYS INC
        78377T107
        
          
        
        20700.00000000
        NS
        USD
        1920339.00000000
        0.412142940641
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        JONES LANG LASALLE INC
        6SYKCME112RT8TQUO411
        JONES LANG LASALLE INC
        48020Q107
        
          
        
        55200.00000000
        NS
        USD
        13218192.00000000
        2.836886883435
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CBRE GROUP INC
        52990016II9MJ2OSWA10
        CBRE GROUP INC - CL A
        12504L109
        
          
        
        140100.00000000
        NS
        USD
        12821952.00000000
        2.751845899108
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CUBESMART
        N/A
        CUBESMART
        229663109
        
          
        
        654400.00000000
        NS
        USD
        34048432.00000000
        7.307470654256
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VENTAS INC
        ORQTRC074CWLT3DKHT41
        VENTAS INC REIT
        92276F100
        
          
        
        407210.00000000
        NS
        USD
        25149289.60000000
        5.397537711205
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CAESARS ENTERTAINMENT INC
        5299000BKFWWVND5L441
        CAESARS ENTERTAINMENT INC
        12769G100
        
          
        
        46210.00000000
        NS
        USD
        3574805.60000000
        0.767224376637
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMERICOLD REALTY TRUST
        549300R7N1V5YV8MWH02
        AMERICOLD REALTY TRUST
        03064D108
        
          
        
        118300.00000000
        NS
        USD
        3298204.00000000
        0.707860172290
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        VICI PPTYS INC
        254900RKH6RY9KCJQH63
        VICI PPTYS INC
        925652109
        
          
        
        475800.00000000
        NS
        USD
        13541268.00000000
        2.906225418293
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PHILLIPS EDISON and CO INC
        549300UC1QJSQ49IC243
        PHILLIPS EDISON and CO INC
        71844V201
        
          
        
        94300.00000000
        NS
        USD
        3242977.00000000
        0.696007359749
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SITE CENTERS CORP
        W2AVA6SODOQ1LCYJQR54
        SITE CENTERS CORP
        82981J109
        
          
        
        609600.00000000
        NS
        USD
        10186416.00000000
        2.186207458600
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CROWN CASTLE INTERNATIONAL CORP
        54930012H97VSM0I2R19
        CROWN CASTLE INTL CORP
        22822V101
        
          
        
        183900.00000000
        NS
        USD
        33947940.00000000
        7.285903072496
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        INVITATION HOMES INC
        N/A
        INVITATION HOMES INC
        46187W107
        
          
        
        318600.00000000
        NS
        USD
        12801348.00000000
        2.747423870941
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        RLJ LODGING TR
        N/A
        RLJ LODGING TRUST
        74965L101
        
          
        
        1122226.00000000
        NS
        USD
        15800942.08000000
        3.391196415717
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DOUGLAS EMMETT INC
        N/A
        DOUGLAS EMMETT INC REIT
        25960P109
        
          
        
        191900.00000000
        NS
        USD
        6413298.00000000
        1.376421296933
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WASHINGTON REAL ESTATE INVS TR
        549300DI34BGS8LVKW95
        WASHINGTON REAL ESTATE IVST TR
        939653101
        
          
        
        266300.00000000
        NS
        USD
        6790650.00000000
        1.457408540820
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        WEWORK INC
        N/A
        WEWORK INC CL A
        96209A104
        
          
        
        1007200.00000000
        NS
        USD
        6869104.00000000
        1.474246329494
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        MID-AMERICA APT CMNTYS INC
        549300FQZKFR5YNSHZ21
        MID AMERICA APT CMNTY INC
        59522J103
        
          
        
        98300.00000000
        NS
        USD
        20588935.00000000
        4.418794918805
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity Revere Street Trust
        549300BDV45LJNXBZC55
        Fidelity Cash Central Fund
        31635A105
        
          
        
        4171030.13600000
        NS
        USD
        4171864.34000000
        0.895365056402
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CYXTERA TECHNOLOGIES INC
        N/A
        CYXTERA TECHNOLOGIES INC PIPE
        N/A
        
          
        
        150297.00000000
        NS
        USD
        1836629.34000000
        0.394177182808
        Long
        EC
        CORP
        US
        Y
        
        1
        
          N
          N
          N
        
      
      
        SPIRIT REALTY CAPITAL INC
        549300LTU6LVPZSHMJ25
        SPIRIT RLTY CAP INC
        84860W300
        
          
        
        124900.00000000
        NS
        USD
        5747898.00000000
        1.233613223618
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CORECIVIC INC
        529900JFA3K6PTLT8B15
        CORECIVIC INC
        21871N101
        
          
        
        229700.00000000
        NS
        USD
        2565749.00000000
        0.550660762401
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EQUITY LIFESTYLE PROPERTIES INC
        529900PEQG66LENB6798
        EQUITY LIFESTYLE PPTYS INC
        29472R108
        
          
        
        206820.00000000
        NS
        USD
        15817593.60000000
        3.394770163071
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity Revere Street Trust
        549300BDV45LJNXBZC55
        Fidelity Securities Lending Cash Central Fund
        31635A303
        
          
        
        5806669.32700000
        NS
        USD
        5807249.99000000
        1.246351341050
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        ESSEX PROPERTY TRUST INC
        549300TR2H2VEFX0NC60
        ESSEX PROPERTY TRUST INC
        297178105
        
          
        
        65248.00000000
        NS
        USD
        22541879.04000000
        4.837935549472
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CYXTERA TECHNOLOGIES INC
        N/A
        CYXTERA TECHNOLOGIES INC A
        23284C102
        
          
        
        260500.00000000
        NS
        USD
        3183310.00000000
        0.683201634906
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EASTGROUP PROPERTIES INC
        31TIGQQZC4P6JMHKSW85
        EASTGROUP PPTYS INC
        277276101
        
          
        
        17600.00000000
        NS
        USD
        3577728.00000000
        0.767851581797
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AMERICAN TOWER CORP
        5493006ORUSIL88JOE18
        AMERICAN TOWER CORP
        03027X100
        
          
        
        159900.00000000
        NS
        USD
        40170078.00000000
        8.621297631685
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PROLOGIS INC
        529900DFH19P073LZ636
        PROLOGIS INC REIT
        74340W103
        
          
        
        333454.00000000
        NS
        USD
        53846151.92000000
        11.55645508139
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LAMAR ADVERTISING CO
        529900Y8WW4MKVPTB543
        LAMAR ADVERTISING CO CL A
        512816109
        
          
        
        93300.00000000
        NS
        USD
        10839594.00000000
        2.326392447648
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-04-30
      Stacie M. Smith
      Stacie M. Smith
      Stacie M. Smith
      President and Treasurer
    
  
  XXXX



Quarterly Holdings Report
for
Fidelity® Variable Insurance Products:
Real Estate Portfolio
March 31, 2022
VIPRE-NPRT1-0522
1.799880.118
Common Stocks - 100.9%
 
 
Shares
Value ($)
 
Commercial Services & Supplies - 0.6%
 
 
 
REITs - Diversified - 0.6%
 
 
 
CoreCivic, Inc. (a)
 
229,700
2,565,749
Diversified Financial Services - 1.5%
 
 
 
Multi-Sector Holdings - 1.5%
 
 
 
WeWork, Inc. (a)(b)
 
1,007,200
6,869,104
Equity Real Estate Investment Trusts (REITs) - 91.2%
 
 
 
REITs - Apartments - 12.2%
 
 
 
Essex Property Trust, Inc.
 
65,248
22,541,879
Invitation Homes, Inc.
 
318,600
12,801,348
Mid-America Apartment Communities, Inc.
 
98,300
20,588,935
 
 
 
55,932,162
REITs - Diversified - 21.8%
 
 
 
Crown Castle International Corp.
 
183,900
33,947,940
Digitalbridge Group, Inc. (a)
 
627,400
4,517,280
Equinix, Inc.
 
40,400
29,961,448
Lamar Advertising Co. Class A
 
93,300
10,839,594
VICI Properties, Inc.
 
475,800
13,541,268
Washington REIT (SBI)
 
266,300
6,790,650
 
 
 
99,598,180
REITs - Health Care - 8.2%
 
 
 
Ventas, Inc.
 
407,210
25,149,290
Welltower, Inc.
 
130,300
12,527,042
 
 
 
37,676,332
REITs - Hotels - 3.9%
 
 
 
RLJ Lodging Trust
 
1,122,226
15,800,942
Ryman Hospitality Properties, Inc. (a)
 
20,700
1,920,339
 
 
 
17,721,281
REITs - Management/Investment - 8.8%
 
 
 
American Tower Corp.
 
159,900
40,170,078
REITs - Manufactured Homes - 3.5%
 
 
 
Equity Lifestyle Properties, Inc.
 
206,820
15,817,594
REITs - Office Property - 3.9%
 
 
 
Alexandria Real Estate Equities, Inc.
 
57,000
11,471,250
Douglas Emmett, Inc.
 
191,900
6,413,298
 
 
 
17,884,548
REITs - Shopping Centers - 2.9%
 
 
 
Phillips Edison & Co., Inc.
 
94,300
3,242,977
SITE Centers Corp.
 
609,600
10,186,416
 
 
 
13,429,393
REITs - Single Tenant - 4.1%
 
 
 
Four Corners Property Trust, Inc.
 
484,800
13,108,992
Spirit Realty Capital, Inc.
 
124,900
5,747,898
 
 
 
18,856,890
REITs - Storage - 7.5%
 
 
 
CubeSmart
 
654,400
34,048,432
REITs - Warehouse/Industrial - 14.4%
 
 
 
Americold Realty Trust
 
118,300
3,298,204
EastGroup Properties, Inc.
 
19,799
4,024,741
Prologis (REIT), Inc.
 
333,454
53,846,151
Terreno Realty Corp.
 
62,700
4,642,935
 
 
 
65,812,031
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)
 
 
416,946,921
Hotels, Restaurants & Leisure - 0.8%
 
 
 
Casinos & Gaming - 0.8%
 
 
 
Caesars Entertainment, Inc. (a)
 
46,210
3,574,806
IT Services - 1.1%
 
 
 
Internet Services & Infrastructure - 1.1%
 
 
 
Cyxtera Technologies, Inc. (c)
 
150,297
1,836,629
Cyxtera Technologies, Inc. Class A (a)
 
260,500
3,183,310
 
 
 
5,019,939
Real Estate Management & Development - 5.7%
 
 
 
Real Estate Services - 5.7%
 
 
 
CBRE Group, Inc.
 
140,100
12,821,952
Jones Lang LaSalle, Inc. (a)
 
55,200
13,218,192
 
 
 
26,040,144
 
TOTAL COMMON STOCKS
 (Cost $325,086,534)
 
 
 
461,016,663
 
 
 
 
Money Market Funds - 2.1%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 0.31% (d)
 
4,171,030
4,171,864
Fidelity Securities Lending Cash Central Fund 0.31% (d)(e)
 
5,317,368
5,317,900
 
TOTAL MONEY MARKET FUNDS
 (Cost $9,489,764)
 
 
9,489,764
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 103.0%
 (Cost $334,576,298)
 
 
 
470,506,427
NET OTHER ASSETS (LIABILITIES) - (3.0)%  
(13,626,903)
NET ASSETS - 100.0%
456,879,524
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
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 $1,836,629 or 0.4% of net assets.
 
(d)
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.
 
(e)
Investment made with cash collateral received from securities on loan.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Cyxtera Technologies, Inc.
2/21/21
1,502,970
 
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,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
%ownership,
end
of period
Fidelity Cash Central Fund 0.31%
6,523,200
33,457,422
35,808,758
891
-
-
4,171,864
0.0%
Fidelity Securities Lending Cash Central Fund 0.31%
3,812,400
15,997,765
14,492,265
10,560
-
-
5,317,900
0.0%
Total
10,335,600
49,455,187
50,301,023
11,451
-
-
9,489,764
 
 
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
 
Amount 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 payments 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 delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.   
 
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 vendor 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.
 
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.
 
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