# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-25-010026
**Filing Date:** 2025-11
**Character Count:** 25698
**Document Hash:** b6baaf206ebc3df5c4c202ca380d604f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010026.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-010026

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ivy Variable Insurance Portfolios
- **CENTRAL INDEX KEY:** 0000810016

**ORGANIZATION NAME:**
- **EIN:** 481146010
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05017
- **FILM NUMBER:** 251513965

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354
- **BUSINESS PHONE:** (800) 523-1918

**MAIL ADDRESS:**
- **STREET 1:** 100 INDEPENDENCE
- **STREET 2:** 610 MARKET STREET
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106-2354

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios
- **DATE OF NAME CHANGE:** 20100301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ivy Funds Variable Insurance Portfolios, Inc.
- **DATE OF NAME CHANGE:** 20080819

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** W&R TARGET FUNDS INC
- **DATE OF NAME CHANGE:** 20001026

## Series and Classes Contracts Data

### Macquarie VIP Growth Series (Series ID: S000006241)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017175 | Service      |  |

## Nport-Ex

## Schedule of investments
Macquarie VIP Growth Series

September 30, 2025 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 99.75%♣** | &nbsp;&nbsp;**Common Stocks — 99.75%♣** | &nbsp;&nbsp;**Common Stocks — 99.75%♣** |
| &nbsp;&nbsp;Communication Services — 5.41% | &nbsp;&nbsp;Communication Services — 5.41% | &nbsp;&nbsp;Communication Services — 5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A | 95638 | $23249598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms Class A | &nbsp;&nbsp;&nbsp;&nbsp;7014 | &nbsp;&nbsp; 5150941 |
|  |  | &nbsp;&nbsp; 28400539 |
| &nbsp;&nbsp;Consumer Discretionary — 9.12% | &nbsp;&nbsp;Consumer Discretionary — 9.12% | &nbsp;&nbsp;Consumer Discretionary — 9.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | 144784 | &nbsp;&nbsp; 31790223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings | &nbsp;&nbsp;&nbsp;&nbsp;1749 | &nbsp;&nbsp; 9443323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferrari | 13787 | &nbsp;&nbsp; 6689728 |
|  |  | &nbsp;&nbsp; 47923274 |
| &nbsp;&nbsp;Consumer Staples — 1.40% | &nbsp;&nbsp;Consumer Staples — 1.40% | &nbsp;&nbsp;Consumer Staples — 1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coca-Cola | 111209 | &nbsp;&nbsp; 7375381 |
|  |  | &nbsp;&nbsp; 7375381 |
| &nbsp;&nbsp;Financials — 13.23% | &nbsp;&nbsp;Financials — 13.23% | &nbsp;&nbsp;Financials — 13.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange | 98900 | &nbsp;&nbsp; 16662672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard Class A | 24455 | &nbsp;&nbsp; 13910248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSCI | &nbsp;&nbsp;&nbsp;&nbsp;8765 | &nbsp;&nbsp; 4973349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;S&P Global | 21308 | &nbsp;&nbsp; 10370817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa Class A | 69021 | &nbsp;&nbsp; 23562389 |
|  |  | &nbsp;&nbsp; 69479475 |
| &nbsp;&nbsp;Healthcare — 9.10% | &nbsp;&nbsp;Healthcare — 9.10% | &nbsp;&nbsp;Healthcare — 9.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooper † | 76526 | &nbsp;&nbsp; 5246622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher | 63764 | &nbsp;&nbsp; 12641851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories † | &nbsp;&nbsp;&nbsp;&nbsp;7668 | &nbsp;&nbsp; 4899008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical † | 16742 | &nbsp;&nbsp; 7487525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group | 22741 | &nbsp;&nbsp; 7852467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Veeva Systems Class A † | 32456 | &nbsp;&nbsp; 9668967 |
|  |  | &nbsp;&nbsp; 47796440 |
| &nbsp;&nbsp;Industrials — 7.41% | &nbsp;&nbsp;Industrials — 7.41% | &nbsp;&nbsp;Industrials — 7.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 29619 | &nbsp;&nbsp; 7054357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equifax | 39595 | &nbsp;&nbsp; 10157305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 37640 | &nbsp;&nbsp; 5298959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verisk Analytics | 25336 | &nbsp;&nbsp; 6372258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Connections | 57242 | &nbsp;&nbsp; 10063144 |
|  |  | &nbsp;&nbsp; 38946023 |
| &nbsp;&nbsp;Information Technology — 51.07% | &nbsp;&nbsp;Information Technology — 51.07% | &nbsp;&nbsp;Information Technology — 51.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices † | 32714 | &nbsp;&nbsp; 5292798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple | 166832 | &nbsp;&nbsp; 42480432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autodesk † | 20145 | &nbsp;&nbsp; 6399462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom | 30003 | &nbsp;&nbsp; 9898290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDW | 31736 | &nbsp;&nbsp; 5054910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit | 21366 | &nbsp;&nbsp; 14591055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | 152989 | &nbsp;&nbsp; 79240653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorola Solutions | &nbsp;&nbsp;&nbsp;&nbsp;6850 | &nbsp;&nbsp; 3132436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | 401945 | &nbsp;&nbsp; 74994898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salesforce | 33469 | &nbsp;&nbsp; 7932153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Synopsys † | 17112 | &nbsp;&nbsp; 8442890 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | **Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 38738 | $10819136 |
|  |  | &nbsp;&nbsp;268279113 |
| &nbsp;&nbsp;Materials — 1.40% | &nbsp;&nbsp;Materials — 1.40% | &nbsp;&nbsp;Materials — 1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vulcan Materials | 23879 | &nbsp;&nbsp; 7345658 |
|  |  | &nbsp;&nbsp; 7345658 |
| &nbsp;&nbsp;Real Estate — 1.61% | &nbsp;&nbsp;Real Estate — 1.61% | &nbsp;&nbsp;Real Estate — 1.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CoStar Group † | 99981 | &nbsp;&nbsp; 8435397 |
|  |  | &nbsp;&nbsp; 8435397 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $320,772,707)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $320,772,707)** | &nbsp;&nbsp;**523981300** |
| &nbsp;&nbsp;**Short-Term Investments — 0.07%** | &nbsp;&nbsp;**Short-Term Investments — 0.07%** | &nbsp;&nbsp;**Short-Term Investments — 0.07%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 0.07% | &nbsp;&nbsp;Money Market Mutual Funds — 0.07% | &nbsp;&nbsp;Money Market Mutual Funds — 0.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 4.03%) | 89899 | &nbsp;&nbsp; 89899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 4.04%) | 89899 | &nbsp;&nbsp; 89899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 4.07%) | 89899 | &nbsp;&nbsp; 89899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 4.05%) | 89898 | &nbsp;&nbsp; 89898 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $359,595)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $359,595)** | &nbsp;&nbsp; **359595** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.82%<br> (cost $321,132,302)** |  | &nbsp;&nbsp;**524340895** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.18%** |  | &nbsp;&nbsp; **943521** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 55,216,875 Shares Outstanding—100.00%** |  | **$525284416** |

---

♣ Categorizations used for financial reporting purposes may differ from categorizations used for regulatory compliance and/or internal classification purposes. <br> † Non-income producing security.

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| MSCI – Morgan Stanley Capital International |
| S&P – Standard & Poor's Financial Services LLC |

---

NQ- IV094 [0925] 1125 (4967888) 1

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Ivy Variable Insurance Portfolios

- **b. Investment Company Act file number:** 811-05017

- **c. CIK number of Registrant:** 0000810016

- **d. LEI of Registrant:** 72XHPUAYSOH6ROSGJT53

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

  - **Telephone number:** 215-255-1200

**Item A.2. Information about the Series.**

- **a. Name of Series:** Macquarie VIP Growth Series

- **b. EDGAR series identifier (if any):** S000006241

- **c. LEI of Series:** Z8006IQHVKEASPHFNK61

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $525904336.45

**Total Liabilities:** $634765.78

**Net Assets:** $525269570.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017175 | 2.64%                | 0.11%                | 1.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18653107.39             | $-2352682.50                               |
| Month 2  | $5225235.07              | $-4357328.25                               |
| Month 3  | $55496225.73             | $-46122576.28                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Veeva Systems Inc                              | Veeva Systems Inc                              | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     32456 | NS      | $9668966.96   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio                  | Fidelity Government Portfolio                  | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |     89899 | NS      | $89898.64     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                                           | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     38738 | NS      | $10819136.02  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity FedFund                    | BlackRock Liquidity FedFund                    | CUSIP: 09248U700<br>LEI: 549300T8K043VZEOVK74 | Long             | STIV             | RF                | US        |     89899 | NS      | $89898.67     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc                             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      7014 | NS      | $5150941.32   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                                 | S&P Global Inc                                 | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     21308 | NS      | $10370816.68  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                 | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    152989 | NS      | $79240652.55  | 15.09%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                         | UnitedHealth Group Inc                         | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     22741 | NS      | $7852467.30   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                           | Verisk Analytics Inc                           | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     25336 | NS      | $6372257.36   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VeriSign Inc                                   | VeriSign Inc                                   | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |      4855 | NS      | $1357312.35   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                    | NVIDIA Corp                                    | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    401945 | NS      | $74994898.10  | 14.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                                   | Autodesk Inc                                   | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     20145 | NS      | $6399462.15   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                  | Intercontinental Exchange Inc                  | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     98900 | NS      | $16662672.00  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                               | Coca-Cola Co/The                               | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    111209 | NS      | $7375380.88   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                           | Booking Holdings Inc                           | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1749 | NS      | $9443323.23   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| MSILF Government Portfolio                     | MSILF Government Portfolio                     | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |     89899 | NS      | $89898.64     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                       | Visa Inc                                       | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     69021 | NS      | $23562388.98  | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                 | Mastercard Inc                                 | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     24455 | NS      | $13910248.55  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                         | Motorola Solutions Inc                         | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |      6850 | NS      | $3132436.50   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                     | Intuit Inc                                     | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     21366 | NS      | $14591055.06  | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                      | Apple Inc                                      | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    166832 | NS      | $42480432.16  | 8.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                                   | Synopsys Inc                                   | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     17112 | NS      | $8442889.68   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                                    | Equifax Inc                                    | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |     39595 | NS      | $10157305.35  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                         | Intuitive Surgical Inc                         | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     16742 | NS      | $7487524.66   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                         | IDEXX Laboratories Inc                         | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      7668 | NS      | $4899008.52   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     95638 | NS      | $23249597.80  | 4.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                               | CoStar Group Inc                               | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     99981 | NS      | $8435396.97   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |     89899 | NS      | $89898.64     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                 | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    144784 | NS      | $31790222.88  | 6.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                    | CDW Corp/DE                                    | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     31736 | NS      | $5054910.08   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                   | Broadcom Inc                                   | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     30003 | NS      | $9898289.73   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                     | Advanced Micro Devices Inc                     | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     32714 | NS      | $5292798.06   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The                             | Cooper Cos Inc/The                             | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     76526 | NS      | $5246622.56   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co                            | Vulcan Materials Co                            | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     23879 | NS      | $7345657.98   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc                  | Old Dominion Freight Line Inc                  | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     37640 | NS      | $5298959.20   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                 | Salesforce Inc                                 | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     33469 | NS      | $7932153.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc                          | Waste Connections Inc                          | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |     57242 | NS      | $10063143.60  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                   | Danaher Corp                                   | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     63764 | NS      | $12641850.64  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                     | Ferrari NV                                     | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | IT        |     13787 | NS      | $6689728.14   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc                                       | MSCI Inc                                       | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      8765 | NS      | $4973348.65   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions                 | Broadridge Financial Solutions Inc             | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     29619 | NS      | $7054357.23   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Ivy Variable Insurance Portfolio

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

**Title:** Division Director - Head of US Fund Administration