VIP Growth Opportunities Portfolio
Variable Insurance Products Fund III
Fund classification
Classified from what the fund holds · as of 2026 Q2
VIP Growth Opportunities Portfolio is an actively managed U.S. equity fund. 47% of VIP Growth Opportunities Portfolio’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 82% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
Fund profile
As filed in the prospectus · 2026 Q2
VIP Growth Opportunities Portfolio seeks to provide capital growth.
The fund invests at least 80% of assets in common stocks of growth companies, identified through fundamental analysis of factors including projected or trailing earnings growth, sales growth, free cash flow growth relative to market median, research and development intensity, and capital-raising activity; it holds both domestic and foreign issuers. Because security selection depends on the adviser's assessment of growth potential across multiple criteria, fund holdings and performance will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| C000021038 | 0.56% |
| C000021039 | 0.64% |
| C000021040 | 0.66% |
| C000021041 | 0.81% |
Portfolio turnover 71.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.69% |
| Cash & short-term | 2.77% |
| Bonds | 0.11% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2026Q1, one or more quarters before the direct holdings (2026Q2).
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 46.2% |
| Communication Services | 17.6% |
| International | 9.4% |
| Consumer Discretionary | 6.0% |
| 7 smaller | 20.8% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 79.1% |
| Fixed rate | 20.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPNVDA | 13.91% | $200.09 | $734.83M | 3.7M |
| GOOGL | ALPHABET INCGOOGL | 5.79% | $357.37 | $305.80M | 855.7K |
| GOOG | ALPHABET INCGOOG | 5.22% | $353.33 | $276.08M | 781.4K |
| MSFT | MICROSOFT CORPMSFT | 4.23% | $373.02 | $223.72M | 599.7K |
| META | META PLATFORMS INCMETA | 4.21% | $563.29 | $222.49M | 395.0K |
| TSM | TAIWAN SEMICONDUCTOR MFG CO LTDTSM | 4.17% | $477.57 | $220.30M | 461.3K |
| AMZN | AMAZON.COM INCAMZN | 3.54% | $238.34 | $186.78M | 783.7K |
| MU | MICRON TECHNOLOGY INCMU | 3.23% | $1,154.29 | $170.83M | 148.0K |
| APP | APPLOVIN CORPAPP | 3.20% | $515.23 | $168.94M | 327.9K |
| LLY | ELI LILLY and COLLY | 3.02% | $1,199.43 | $159.28M | 132.8K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 50.52% of net assets, top 25 75.40%, across 137 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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