# EDGAR Filing Document

**Accession Number:** 0000315754
**File Stem:** 0001193125-25-292527
**Filing Date:** 2025-11
**Character Count:** 765625
**Document Hash:** 5d74583f729b5652d26d7dd0736e7ec0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-292527.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001193125-25-292527

**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:** AUGUSTAR VARIABLE INSURANCE PRODUCTS FUND INC
- **CENTRAL INDEX KEY:** 0000315754

**ORGANIZATION NAME:**
- **EIN:** 310978635
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03015
- **FILM NUMBER:** 251510359

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242
- **BUSINESS PHONE:** 513-794-6171

**MAIL ADDRESS:**
- **STREET 1:** ONE FINANCIAL WAY
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45242

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUGUSTAR(SM) VARIABLE INSURANCE PRODUCTS FUND INC
- **DATE OF NAME CHANGE:** 20231130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OHIO NATIONAL FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ON MARKET YIELD FUND INC
- **DATE OF NAME CHANGE:** 19821026

## Series and Classes Contracts Data

### AVIP Balanced Model Portfolio (Series ID: S000056644)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000179131 | AVIP Balanced Model Portfolio |  |

## Nport-Ex

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Bond Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds–95.1%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services–5.9%** |  |  |  |  |
| AT&T, Inc. (Diversified Telecom. Svs.) | 4.900% | 08/15/2037 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $975180 |
| Charter Communications Operating LLC / Charter Communications Operating Capital (Media) | 3.700% | 04/01/2051 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 659710 |
| Comcast Corp. (Media) | 3.250% | 11/01/2039 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2395343 |
| Cox Communications, Inc. (Media)<br> (a) | 4.500% | 06/30/2043 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2013180 |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (a) | 4.876% | 07/16/2030 | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 883983 |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (a) | 5.502% | 07/16/2035 | &nbsp;&nbsp; 870000 | &nbsp;&nbsp; 899917 |
| Time Warner Cable LLC (Media) | 6.550% | 05/01/2037 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2080523 |
| T-Mobile U.S.A., Inc. (Wireless Telecom. Svs.) | 3.875% | 04/15/2030 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1765059 |
| T-Mobile U.S.A., Inc. (Wireless Telecom. Svs.) | 4.700% | 01/15/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1964201 |
| Verizon Communications, Inc. (Diversified Telecom. Svs.) | 4.125% | 08/15/2046 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 612120 |
|  |  |  |  | &nbsp;&nbsp; 14249216 |
| **Consumer Discretionary–5.3%** |  |  |  |  |
| Amazon.com, Inc. (Broadline Retail) | 3.875% | 08/22/2037 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 921989 |
| Beach Acquisition Bidco LLC (Textiles, Apparel & Luxury Goods)<br> (a)(b) | 10.000%, 10.750% PIK | 07/15/2033 | &nbsp;&nbsp; 1370000 | &nbsp;&nbsp; 1477767 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 5.125% | 05/01/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000000 |
| Hasbro, Inc. (Leisure Products) | 3.900% | 11/19/2029 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2922035 |
| Home Depot, Inc. / The (Specialty Retail) | 2.375% | 03/15/2051 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1168206 |
| Lear Corp. (Automobile Components) | 4.250% | 05/15/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1988012 |
| Lowe's Cos., Inc. (Specialty Retail) | 3.000% | 10/15/2050 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1293966 |
| MDC Holdings, Inc. (Household Durables) | 3.850% | 01/15/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1920999 |
|  |  |  |  | &nbsp;&nbsp; 12692974 |
| **Consumer Staples–6.2%** |  |  |  |  |
| Altria Group, Inc. (Tobacco) | 5.625% | 02/06/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2076274 |
| B.A.T. Capital Corp. (Tobacco) | 4.700% | 04/02/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2013242 |
| Hershey Co. / The (Food Products) | 1.700% | 06/01/2030 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1610927 |
| Imperial Brands Finance PLC (Tobacco)<br> (a) | 5.625% | 07/01/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1019926 |
| &nbsp;&nbsp;&nbsp; JBS U.S.A. Holding Lux SARL / JBS U.S.A. Foods Group Holdings, Inc. / JBS U.S.A. Food Co. <br> (Food Products)<br>(a) | 6.375% | 04/15/2066 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 925236 |
| Kellanova (Food Products) | 4.500% | 04/01/2046 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1752568 |
| Kraft Heinz Foods Co. (Food Products) | 4.625% | 10/01/2039 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1367599 |
| Philip Morris International, Inc. (Tobacco) | 3.375% | 08/15/2029 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2430374 |
| Smithfield Foods, Inc. (Food Products)<br> (a) | 3.000% | 10/15/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1827240 |
|  |  |  |  | &nbsp;&nbsp; 15023386 |
| **Energy–9.1%** |  |  |  |  |
| Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc. (Energy Equip. & Svs.) | 4.080% | 12/15/2047 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1612701 |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | 5.200% | 09/15/2034 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2987018 |
| Enbridge, Inc. (Oil, Gas & Consumable Fuels) | 5.550% | 06/20/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1031263 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 4.950% | 06/15/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2034497 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 5.700% | 04/01/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2065159 |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 5.300% | 12/01/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1020270 |
| Marathon Petroleum Corp. (Oil, Gas & Consumable Fuels) | 4.750% | 09/15/2044 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 860698 |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 5.550% | 10/01/2034 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1826314 |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 6.050% | 10/01/2054 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1463710 |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 5.850% | 01/15/2026 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1002685 |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 6.000% | 06/15/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1052231 |
| Sunoco LP (Oil, Gas & Consumable Fuels)<br> (a) | 5.875% | 03/15/2034 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 654286 |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | 5.550% | 08/15/2035 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1529880 |
| Texas Eastern Transmission LP (Oil, Gas & Consumable Fuels)<br> (a) | 4.150% | 01/15/2048 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 801798 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 3.750% | 06/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 993210 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 5.400% | 03/04/2044 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 970585 |
|  |  |  |  | &nbsp;&nbsp; 21906305 |
| **Financials–36.1%** |  |  |  |  |
| Ally Financial, Inc. (Rate is fixed until 01/17/2030, then SOFRINDX + 173) (Consumer Finance)<br> (c) | 5.543% | 01/17/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2037423 |
| Antares Holdings LP (Capital Markets)<br> (a) | 2.750% | 01/15/2027 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1938202 |
| Apollo Debt Solutions BDC (Capital Markets) | 6.700% | 07/29/2031 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1589717 |
| Avolon Holdings Funding Ltd. (Financial Services)<br> (a) | 4.900% | 10/10/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2010943 |
| Bank of America Corp. (Rate is fixed until 01/24/2035, then SOFR + 131) (Banks)<br> (c) | 5.511% | 01/24/2036 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1045313 |
| Bank of America Corp. (Rate is fixed until 03/08/2032, then H15T5Y + 200) (Banks)<br> (c) | 3.846% | 03/08/2037 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 934289 |
| Bank of Nova Scotia / The (Rate is fixed until 10/27/2035, then H15T5Y + 273) (Banks)<br> (c) | 6.875% | 10/27/2085 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3489567 |
| Belrose Funding Trust II (Insurance)<br> (a) | 6.792% | 05/15/2055 | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1786846 |
| Blackstone Private Credit Fund (Capital Markets) | 6.000% | 01/29/2032 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2063750 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (Rate is fixed until 09/11/2030, then SOFR + 125) <br> (Consumer Finance)<br>(c) | 4.493% | 09/11/2031 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1388676 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (Rate is fixed until 09/11/2035, then SOFR + 163) <br> (Consumer Finance)<br>(c) | 5.197% | 09/11/2036 | &nbsp;&nbsp; 2135000 | &nbsp;&nbsp; 2111518 |
| Capital One N.A. (Banks) | USISOA05 + 173 | 08/09/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2070953 |
| Citigroup, Inc. (Rate is fixed until 01/24/2035, then SOFR + 183) (Banks)<br> (c) | 6.020% | 01/24/2036 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2095170 |
| Encore Capital Group, Inc. (Consumer Finance)<br> (a) | 6.625% | 04/15/2031 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 498545 |
| Federation des Caisses Desjardins du Quebec (Banks)<br> (a) | 4.565% | 08/26/2030 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1307191 |
| First Citizens BancShares, Inc. (Rate is fixed until 09/05/2030, then H15T5Y + 185) (Banks)<br> (c) | 5.600% | 09/05/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1994715 |
| First Horizon Bank (Banks) | 5.750% | 05/01/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1031703 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 5.125% | 11/05/2026 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2006628 |
| General Motors Financial Co., Inc. (Consumer Finance) | 6.400% | 01/09/2033 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2144698 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 07/23/2034, then SOFR + 155) <br> (Capital Markets)<br>(c) | 5.330% | 07/23/2035 | &nbsp;&nbsp; $1500000 | &nbsp;&nbsp; $1544166 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 10/23/2034, then SOFR + 142) <br> (Capital Markets)<br>(c) | 5.016% | 10/23/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1006649 |
| Hyundai Capital America (Consumer Finance)<br> (a) | 5.300% | 01/08/2030 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1540586 |
| ING Groep N.V. (Rate is fixed until 11/16/2032, then USISSO05 + 359) (Banks)<br> (c) | 7.000% | Perpetual | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2062151 |
| Jefferies Financial Group, Inc. (Capital Markets) | 4.850% | 01/15/2027 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1814549 |
| JPMorgan Chase & Co. (Rate is fixed until 10/22/2034, then SOFR + 134) (Banks)<br> (c) | 4.946% | 10/22/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1008494 |
| KBC Group N.V. (Rate is fixed until 09/23/2030, then H15T1Y + 85) (Banks)<br> (a)(c) | 4.454% | 09/23/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1989409 |
| KeyCorp (Rate is fixed until 06/01/2032, then SOFRINDX + 206) (Banks)<br> (c) | 4.789% | 06/01/2033 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2491540 |
| LPL Holdings, Inc. (Capital Markets) | 5.200% | 03/15/2030 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1531746 |
| M&T Bank Corp. (Rate is fixed until 07/30/2030, then H15T5Y + 143) (Banks)<br> (c) | 5.400% | 07/30/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2015206 |
| Macquarie Bank Ltd. (Rate is fixed until 08/13/2035, then H15T1Y + 145) (Capital Markets)<br> (a)(c) | 5.642% | 08/13/2036 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1012964 |
| Morgan Stanley (Capital Markets) | 3.950% | 04/23/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 997808 |
| Morgan Stanley (Rate is fixed until 07/19/2034, then SOFR + 156) (Capital Markets)<br> (c) | 5.320% | 07/19/2035 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1857328 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank N.A. (Rate is fixed until 07/06/2027, then SOFR + 77) <br> (Capital Markets)<br>(c) | 4.466% | 07/06/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1005608 |
| Nissan Motor Acceptance Co. LLC (Consumer Finance)<br> (a) | 5.625% | 09/29/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000644 |
| Oaktree Strategic Credit Fund (Capital Markets) | 6.500% | 07/23/2029 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1554558 |
| PNC Bank N.A. (Banks) | 2.700% | 10/22/2029 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2352088 |
| Prudential Financial, Inc. (Rate is fixed until 09/15/2027, then QL + 238) (Insurance)<br> (c) | 4.500% | 09/15/2047 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1283601 |
| Santander Holdings U.S.A., Inc. (Rate is fixed until 01/06/2027, then SOFR + 125) (Banks)<br> (c) | 2.490% | 01/06/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 975762 |
| &nbsp;&nbsp;&nbsp; Santander U.K. Group Holdings PLC (Rate is fixed until 09/22/2035, then SOFRINDX + 158) <br> (Banks)<br>(c) | 5.136% | 09/22/2036 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 990678 |
| Sixth Street Lending Partners (Capital Markets)<br> (a) | 6.125% | 07/15/2030 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 930487 |
| State Street Corp. (Capital Markets) | 2.200% | 03/03/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1783791 |
| Stellantis Financial Services U.S. Corp. (Consumer Finance)<br> (a) | 5.400% | 09/15/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1002096 |
| Sumitomo Mitsui Trust Group, Inc. (Rate is fixed until 09/11/2035, then SOFR + 165) (Banks)<br> (a)(c) | 5.416% | 09/11/2036 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 758504 |
| Synchrony Financial (Consumer Finance) | 5.150% | 03/19/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2025202 |
| Synchrony Financial (Rate is fixed until 07/29/2035, then SOFR + 207) (Consumer Finance)<br> (c) | 6.000% | 07/29/2036 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2045682 |
| Truist Bank (Rate is fixed until 07/24/2027, then SOFR + 77) (Banks)<br> (c) | 4.420% | 07/24/2028 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1506400 |
| UBS Group AG (Rate is fixed until 08/05/2035, then USISSO05 + 330) (Capital Markets)<br> (a)(c) | 7.000% | Perpetual | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 509715 |
| UBS Group AG (Rate is fixed until 09/23/2030, then SOFR + 106) (Capital Markets)<br> (a)(c) | 4.398% | 09/23/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1993215 |
| UBS Group AG (Rate is fixed until 03/23/2036, then SOFR + 134) (Capital Markets)<br> (a)(c) | 5.010% | 03/23/2037 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1990357 |
| Webster Financial Corp. (Rate is fixed until 09/11/2030, then H15T5Y + 213) (Banks)<br> (c) | 5.784% | 09/11/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000234 |
| Wells Fargo & Co. (Rate is fixed until 01/24/2030, then SOFR + 111) (Banks)<br> (c) | 5.244% | 01/24/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2069216 |
| Wells Fargo & Co. (Rate is fixed until 04/30/2040, then SOFR + 253) (Banks)<br> (c) | 3.068% | 04/30/2041 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1164431 |
| Wells Fargo & Co. (Banks) | 4.650% | 11/04/2044 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 885307 |
| Westpac Banking Corp. (Rate is fixed until 11/23/2026, then USISOA05 + 224) (Banks)<br> (c) | 4.322% | 11/23/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 997085 |
| Zions Bancorp N.A. (Rate is fixed until 08/18/2027, then SOFR + 116) (Banks)<br> (c) | 4.704% | 08/18/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2006216 |
|  |  |  |  | &nbsp;&nbsp; 87249320 |
| **Health Care–7.7%** |  |  |  |  |
| AbbVie, Inc. (Biotechnology) | 3.200% | 11/21/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 964750 |
| AbbVie, Inc. (Biotechnology) | 4.250% | 11/21/2049 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1684962 |
| Amgen, Inc. (Biotechnology) | 5.600% | 03/02/2043 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3039757 |
| Cardinal Health, Inc. (Health Care Providers & Svs.) | 5.150% | 09/15/2035 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1408334 |
| CVS Health Corp. (Health Care Providers & Svs.) | 5.000% | 09/15/2032 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1012236 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. (Rate is fixed until 03/10/2030, then H15T5Y + 289) (Health Care Providers & <br> Svs.)<br>(c) | 7.000% | 03/10/2055 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1049743 |
| HCA, Inc. (Health Care Providers & Svs.) | 5.500% | 03/01/2032 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2083663 |
| Quest Diagnostics, Inc. (Health Care Providers & Svs.) | 2.950% | 06/30/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1884603 |
| Quest Diagnostics, Inc. (Health Care Providers & Svs.) | 2.800% | 06/30/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 919302 |
| Regeneron Pharmaceuticals, Inc. (Biotechnology) | 1.750% | 09/15/2030 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1587586 |
| UnitedHealth Group, Inc. (Health Care Providers & Svs.) | 5.500% | 07/15/2044 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3005665 |
|  |  |  |  | &nbsp;&nbsp; 18640601 |
| **Industrials–4.2%** |  |  |  |  |
| BAE Systems PLC (Aerospace & Defense)<br> (a) | 1.900% | 02/15/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1760018 |
| Boeing Co. / The (Aerospace & Defense) | 6.298% | 05/01/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2122494 |
| FedEx Corp. (Air Freight & Logistics)<br> (a) | 4.900% | 01/15/2034 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1974395 |
| Lockheed Martin Corp. (Aerospace & Defense) | 1.850% | 06/15/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 902396 |
| Lockheed Martin Corp. (Aerospace & Defense) | 3.600% | 03/01/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 922194 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.250% | 01/31/2034 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 514210 |
| TTX Co. (Ground Transportation)<br> (a) | 5.650% | 12/01/2052 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2043774 |
|  |  |  |  | &nbsp;&nbsp; 10239481 |
| **Information Technology–3.5%** |  |  |  |  |
| Broadcom, Inc. (Semiconductors & Equip.) | 5.200% | 07/15/2035 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1442842 |
| Micron Technology, Inc. (Semiconductors & Equip.) | 6.750% | 11/01/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2174103 |
| NXP B.V. / NXP Funding LLC / NXP U.S.A., Inc. (Semiconductors & Equip.) | 4.850% | 08/19/2032 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1401683 |
| Oracle Corp. (Software) | 5.200% | 09/26/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1005506 |
| VMware LLC (Software) | 2.200% | 08/15/2031 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2469663 |
|  |  |  |  | &nbsp;&nbsp; 8493797 |
| **Materials–2.7%** |  |  |  |  |
| Anglo American Capital PLC (Metals & Mining)<br> (a) | 4.750% | 04/10/2027 | &nbsp;&nbsp; 724000 | &nbsp;&nbsp; 729281 |
| Corp. Nacional del Cobre de Chile (Metals & Mining)<br> (a) | 6.330% | 01/13/2035 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 639750 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Materials (continued)** |  |  |  |  |
| Dow Chemical Co. / The (Chemicals) | 4.250% | 10/01/2034 | &nbsp;&nbsp; $1402000 | &nbsp;&nbsp; $1294421 |
| Glencore Funding LLC (Metals & Mining)<br> (a) | 2.850% | 04/27/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 917236 |
| Kinross Gold Corp. (Metals & Mining) | 4.500% | 07/15/2027 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3012047 |
|  |  |  |  | &nbsp;&nbsp; 6592735 |
| **Real Estate–6.0%** |  |  |  |  |
| Alexandria Real Estate Equities, Inc. (Health Care REITs) | 3.950% | 01/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 994175 |
| Brixmor Operating Partnership LP (Retail REITs) | 4.850% | 02/15/2033 | &nbsp;&nbsp; 1340000 | &nbsp;&nbsp; 1337058 |
| COPT Defense Properties LP (Office REITs) | 4.500% | 10/15/2030 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1341097 |
| Essential Properties LP (Diversified REITs) | 5.400% | 12/01/2035 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1304877 |
| Extra Space Storage LP (Specialized REITs) | 4.950% | 01/15/2033 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2011796 |
| Healthcare Realty Holdings LP (Health Care REITs) | 3.625% | 01/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 983200 |
| Kilroy Realty LP (Office REITs) | 4.250% | 08/15/2029 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1962019 |
| Kimco Realty OP LLC (Retail REITs) | 5.300% | 02/01/2036 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1431114 |
| VICI Properties LP / VICI Note Co., Inc. (Specialized REITs)<br> (a) | 4.500% | 09/01/2026 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1999930 |
| VICI Properties LP / VICI Note Co., Inc. (Specialized REITs)<br> (a) | 4.625% | 12/01/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 990151 |
|  |  |  |  | &nbsp;&nbsp; 14355417 |
| **Utilities–8.4%** |  |  |  |  |
| AEP Transmission Co. LLC (Electric Utilities) | 4.000% | 12/01/2046 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 807604 |
| AEP Transmission Co. LLC (Electric Utilities) | 3.750% | 12/01/2047 | &nbsp;&nbsp; 1351000 | &nbsp;&nbsp; 1048653 |
| Commonwealth Edison Co. (Electric Utilities) | 4.350% | 11/15/2045 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1721059 |
| Commonwealth Edison Co. (Electric Utilities) | 5.650% | 06/01/2054 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2033420 |
| Connecticut Light & Power Co. / The (Electric Utilities) | 4.000% | 04/01/2048 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 809157 |
| Consolidated Edison Co. of New York, Inc. (Electric Utilities) | 5.700% | 05/15/2054 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2562319 |
| Dominion Energy, Inc. (Rate is fixed until 02/15/2031, then H15T5Y + 226) (Multi-Utilities)<br> (c) | 6.000% | 02/15/2056 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1007154 |
| Duke Energy Corp. (Electric Utilities) | 3.750% | 09/01/2046 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 766601 |
| Enel Finance International N.V. (Electric Utilities)<br> (a) | 5.750% | 09/30/2055 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1963315 |
| Eversource Energy (Electric Utilities) | 3.300% | 01/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 978909 |
| FirstEnergy Transmission LLC (Electric Utilities)<br> (a) | 4.550% | 04/01/2049 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1707261 |
| Florida Power & Light Co. (Electric Utilities) | 3.150% | 10/01/2049 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1396203 |
| Jersey Central Power & Light Co. (Electric Utilities) | 5.100% | 01/15/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1013477 |
| Public Service Electric & Gas Co. (Multi-Utilities) | 3.600% | 12/01/2047 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1145558 |
| Sempra (Rate is fixed until 04/01/2031, then H15T5Y + 263) (Multi-Utilities)<br> (c) | 6.375% | 04/01/2056 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1385434 |
|  |  |  |  | &nbsp;&nbsp; 20346124 |
| **Total Corporate Bonds (Cost $236,818,625)** |  |  |  | &nbsp;&nbsp; $229789356 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset-Backed Securities–2.7%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials–0.8%** |  |  |  |  |
| Ballyrock CLO 2019-2A A1R3 <br> (a) | TSFR3M + 124 | 10/25/2038 | &nbsp;&nbsp; $2000000 | &nbsp;&nbsp; $2000000 |
| **Industrials–1.9%** |  |  |  |  |
| Air Canada 2017-1 Class B Pass Through Trust <br> (a) | 3.700% | 01/15/2026 | &nbsp;&nbsp; 787037 | &nbsp;&nbsp; 782314 |
| FedEx Corp. 2020-1 Class AA Pass Through Trust  | 1.875% | 02/20/2034 | &nbsp;&nbsp; 2197911 | &nbsp;&nbsp; 1902047 |
| United Airlines 2016-1 Class B Pass Through Trust  | 3.650% | 01/07/2026 | &nbsp;&nbsp; 643750 | &nbsp;&nbsp; 640299 |
| United Airlines 2019-2 Class AA Pass Through Trust  | 2.700% | 05/01/2032 | &nbsp;&nbsp; 1324557 | &nbsp;&nbsp; 1214480 |
|  |  |  |  | &nbsp;&nbsp; 4539140 |
| **Total Asset-Backed Securities (Cost $6,893,867)** |  |  |  | &nbsp;&nbsp; $6539140 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–2.2%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bond | 4.875% | 08/15/2045 | &nbsp;&nbsp; $4600000 | &nbsp;&nbsp; $4702781 |
| U.S. Treasury Bond | 4.750% | 08/15/2055 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 702406 |
| **Total U.S. Treasury Obligations (Cost $5,373,948)** |  |  |  | &nbsp;&nbsp; $5405187 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Preferred Securities–1.4%** | **Rate** | **Quantity** | **Value** |
| **Financials–1.4%** |  |  |  |
| Bank of America Corp. (Rate is fixed until 07/26/2030, then H15T5Y + 235) (Banks)<br> (c) | 6.250% | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; $2025553 |
| Huntington Bancshares, Inc. (Rate is fixed until 10/15/2030, then H15T5Y + 265) (Banks)<br> (c) | 6.250% | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1396313 |
| **Total Preferred Securities (Cost $3,400,000)** |  |  | &nbsp;&nbsp; $3421866 |
| **Total Investments – 101.4% (Cost $252,486,440)**<br> (d) |  |  | &nbsp;&nbsp; $245155549 |
| **Liabilities in Excess of Other Assets – (1.4)%**<br> (e) |  |  | &nbsp;&nbsp; (3489061)<br>|
| **Net Assets – 100.0%** |  |  | &nbsp;&nbsp; $241666488 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; CLO: | Collateralized Loan Obligation |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T1Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 1 Year, 3.680% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T5Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 5 Year, 3.740% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIK: | Payment-in-Kind |
| &nbsp;&nbsp;&nbsp;&nbsp; QL: | Quarterly U.S. LIBOR Rate. This rate is linked to U.S. LIBOR, which is no longer published. An alternate reference rate will be determined by the issuer <br> prior to the date the security becomes a variable rate instrument.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFR: | Secured Overnight Financing Rate, 4.240% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFRINDX: | Secured Overnight Financing Rate ("SOFR") Compounded Index, 1.214% at 9/30/2025  |
| &nbsp;&nbsp;&nbsp;&nbsp; TSFR3M: | Quarterly CME Term Secured Overnight Financing Rate ("SOFR"), 3.976% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; USISOA05: | 5 Year Secured Overnight Financing Rate ("SOFR") Spread-Adjusted ICE Swap Rate, 3.644% at 9/30/2025 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Security exempt from registration under Regulation D of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, <br> normally to qualified buyers under Rule 144A. At September 30, 2025, the value of these securities totaled $49,794,672, or 20.6% of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Issuer of the security has the option to make coupon payments in cash or in additional par value of this bond (Payment-in-Kind). |
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Security is a fixed-then-variable rate instrument in which the coupon or dividend rate is fixed until a later specified date, then is adjusted periodically. Rates <br> stated, including interest rate caps and floors, if any, are those in effect at September 30, 2025.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (e) | Includes $58,795 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Ultra Bond - Long | 5 | December 19, 2025 | &nbsp;&nbsp; $580791 | &nbsp;&nbsp; $575391 | &nbsp;&nbsp; $(5400)<br>| &nbsp;&nbsp; $(313)<br>|
| CBT U.S. Long Bond - Long | 11 | December 19, 2025 | &nbsp;&nbsp; 1297333 | &nbsp;&nbsp; 1282531 | &nbsp;&nbsp; (14802)<br>| &nbsp;&nbsp; (2750)<br>|
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$1878124** | &nbsp;&nbsp; **$1857922** | &nbsp;&nbsp; **$(20202)**<br>| &nbsp;&nbsp; **$(3063)**<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–71.5%** | **Shares** | **Value** |
| **Communication Services–7.3%** |  |  |
| Alphabet, Inc. Class A (Interactive Media & Svs.) | &nbsp;&nbsp; 28727 | &nbsp;&nbsp; $6983534 |
| Alphabet, Inc. Class C (Interactive Media & Svs.) | &nbsp;&nbsp; 22363 | &nbsp;&nbsp; 5446509 |
| Comcast Corp. Class A (Media) | &nbsp;&nbsp; 63914 | &nbsp;&nbsp; 2008178 |
| Fox Corp. Class B (Media) | &nbsp;&nbsp; 671 | &nbsp;&nbsp; 38441 |
| Meta Platforms, Inc. Class A (Interactive Media & Svs.) | &nbsp;&nbsp; 11675 | &nbsp;&nbsp; 8573886 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 2354 | &nbsp;&nbsp; 2822258 |
| Pinterest, Inc. Class A (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 8350 | &nbsp;&nbsp; 268619 |
| Take-Two Interactive Software, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 2628 | &nbsp;&nbsp; 678970 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 3528 | &nbsp;&nbsp; 844533 |
|  |  | &nbsp;&nbsp; 27664928 |
| **Consumer Discretionary–7.8%** |  |  |
| Airbnb, Inc. Class A (Hotels, Restaurants & Leisure)<br> (a) | &nbsp;&nbsp; 8351 | &nbsp;&nbsp; 1013978 |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 56705 | &nbsp;&nbsp; 12450717 |
| Booking Holdings, Inc. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 315 | &nbsp;&nbsp; 1700770 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 30641 | &nbsp;&nbsp; 1346978 |
| Chipotle Mexican Grill, Inc. (Hotels, Restaurants & Leisure)<br> (a) | &nbsp;&nbsp; 8768 | &nbsp;&nbsp; 343618 |
| Darden Restaurants, Inc. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 2949 | &nbsp;&nbsp; 561372 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 1602 | &nbsp;&nbsp; 394445 |
| Hasbro, Inc. (Leisure Products) | &nbsp;&nbsp; 6306 | &nbsp;&nbsp; 478310 |
| Home Depot, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 4063 | &nbsp;&nbsp; 1646287 |
| McDonald's Corp. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 1536 | &nbsp;&nbsp; 466775 |
| Ralph Lauren Corp. (Textiles, Apparel & Luxury Goods) | &nbsp;&nbsp; 2509 | &nbsp;&nbsp; 786722 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 10906 | &nbsp;&nbsp; 4850116 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 17422 | &nbsp;&nbsp; 2518176 |
| Toll Brothers, Inc. (Household Durables) | &nbsp;&nbsp; 7027 | &nbsp;&nbsp; 970710 |
|  |  | &nbsp;&nbsp; 29528974 |
| **Consumer Staples–3.3%** |  |  |
| Coca-Cola Co. / The (Beverages) | &nbsp;&nbsp; 8193 | &nbsp;&nbsp; 543360 |
| Costco Wholesale Corp. (Consumer Staples Distribution & Retail) | &nbsp;&nbsp; 3496 | &nbsp;&nbsp; 3236003 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 10078 | &nbsp;&nbsp; 1634652 |
| Procter & Gamble Co. / The (Household Products) | &nbsp;&nbsp; 13273 | &nbsp;&nbsp; 2039396 |
| Walmart, Inc. (Consumer Staples Distribution & Retail) | &nbsp;&nbsp; 47291 | &nbsp;&nbsp; 4873810 |
|  |  | &nbsp;&nbsp; 12327221 |
| **Energy–1.8%** |  |  |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 70753 | &nbsp;&nbsp; 2480600 |
| Expand Energy Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 3453 | &nbsp;&nbsp; 366847 |
| Exxon Mobil Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 5123 | &nbsp;&nbsp; 577618 |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 43720 | &nbsp;&nbsp; 1237713 |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 11026 | &nbsp;&nbsp; 445230 |
| Schlumberger N.V. (Energy Equip. & Svs.) | &nbsp;&nbsp; 18485 | &nbsp;&nbsp; 635330 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 14160 | &nbsp;&nbsp; 897036 |
|  |  | &nbsp;&nbsp; 6640374 |
| **Financials–9.7%** |  |  |
| American Express Co. (Consumer Finance) | &nbsp;&nbsp; 1894 | &nbsp;&nbsp; 629111 |
| Bank of America Corp. (Banks) | &nbsp;&nbsp; 78934 | &nbsp;&nbsp; 4072205 |
| Berkshire Hathaway, Inc. Class B (Financial Services)<br> (a) | &nbsp;&nbsp; 7828 | &nbsp;&nbsp; 3935449 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 6594 | &nbsp;&nbsp; 1126585 |
| Charles Schwab Corp. / The (Capital Markets) | &nbsp;&nbsp; 38022 | &nbsp;&nbsp; 3629960 |
| Citigroup, Inc. (Banks) | &nbsp;&nbsp; 10456 | &nbsp;&nbsp; 1061284 |
| CME Group, Inc. (Capital Markets) | &nbsp;&nbsp; 5704 | &nbsp;&nbsp; 1541164 |
| Huntington Bancshares, Inc. (Banks) | &nbsp;&nbsp; 28073 | &nbsp;&nbsp; 484821 |
| Intercontinental Exchange, Inc. (Capital Markets) | &nbsp;&nbsp; 6042 | &nbsp;&nbsp; 1017956 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 13517 | &nbsp;&nbsp; 4263667 |
| Klarna Group PLC (Financial Services)<br> (a) | &nbsp;&nbsp; 2253 | &nbsp;&nbsp; 82573 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 3924 | &nbsp;&nbsp; 2232010 |
| Moody's Corp. (Capital Markets) | &nbsp;&nbsp; 2593 | &nbsp;&nbsp; 1235513 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 24517 | &nbsp;&nbsp; 3897222 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 8587 | &nbsp;&nbsp; 759520 |
| Progressive Corp. / The (Insurance) | &nbsp;&nbsp; 5760 | &nbsp;&nbsp; 1422432 |
| Travelers Cos., Inc. / The (Insurance) | &nbsp;&nbsp; 8794 | &nbsp;&nbsp; 2455461 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 8472 | &nbsp;&nbsp; 2892171 |
|  |  | &nbsp;&nbsp; 36739104 |
| **Health Care–6.7%** |  |  |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 9947 | &nbsp;&nbsp; 2303128 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Boston Scientific Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 9780 | &nbsp;&nbsp; $954822 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | &nbsp;&nbsp; 45067 | &nbsp;&nbsp; 2032522 |
| Cardinal Health, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 17653 | &nbsp;&nbsp; 2770815 |
| Centene Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 10997 | &nbsp;&nbsp; 392373 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 4607 | &nbsp;&nbsp; 3515141 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 12715 | &nbsp;&nbsp; 1411365 |
| Intuitive Surgical, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 2122 | &nbsp;&nbsp; 949022 |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 9621 | &nbsp;&nbsp; 1783926 |
| Medtronic PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 19568 | &nbsp;&nbsp; 1863656 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3287 | &nbsp;&nbsp; 529108 |
| Pfizer, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 93685 | &nbsp;&nbsp; 2387094 |
| Regeneron Pharmaceuticals, Inc. (Biotechnology) | &nbsp;&nbsp; 4386 | &nbsp;&nbsp; 2466116 |
| UnitedHealth Group, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 6054 | &nbsp;&nbsp; 2090446 |
|  |  | &nbsp;&nbsp; 25449534 |
| **Industrials–6.5%** |  |  |
| AMETEK, Inc. (Electrical Equip.) | &nbsp;&nbsp; 7562 | &nbsp;&nbsp; 1421656 |
| Applied Industrial Technologies, Inc. (Trading Companies & Distributors) | &nbsp;&nbsp; 1311 | &nbsp;&nbsp; 342236 |
| Carpenter Technology Corp. (Aerospace & Defense) | &nbsp;&nbsp; 1370 | &nbsp;&nbsp; 336390 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 10825 | &nbsp;&nbsp; 2221939 |
| Comfort Systems U.S.A., Inc. (Construction & Engineering) | &nbsp;&nbsp; 1567 | &nbsp;&nbsp; 1293057 |
| Delta Air Lines, Inc. (Passenger Airlines) | &nbsp;&nbsp; 12136 | &nbsp;&nbsp; 688718 |
| FedEx Corp. (Air Freight & Logistics) | &nbsp;&nbsp; 8023 | &nbsp;&nbsp; 1891904 |
| Ferguson Enterprises, Inc. (Trading Companies & Distributors) | &nbsp;&nbsp; 2380 | &nbsp;&nbsp; 534500 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 15637 | &nbsp;&nbsp; 830950 |
| General Dynamics Corp. (Aerospace & Defense) | &nbsp;&nbsp; 1197 | &nbsp;&nbsp; 408177 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 4323 | &nbsp;&nbsp; 1300445 |
| HEICO Corp. Class A (Aerospace & Defense) | &nbsp;&nbsp; 1499 | &nbsp;&nbsp; 380881 |
| Honeywell International, Inc. (Industrial Conglomerates) | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 1684000 |
| Johnson Controls International PLC (Building Products) | &nbsp;&nbsp; 3512 | &nbsp;&nbsp; 386144 |
| Lockheed Martin Corp. (Aerospace & Defense) | &nbsp;&nbsp; 1933 | &nbsp;&nbsp; 964973 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 3370 | &nbsp;&nbsp; 717170 |
| Mueller Industries, Inc. (Machinery) | &nbsp;&nbsp; 12119 | &nbsp;&nbsp; 1225352 |
| Parker-Hannifin Corp. (Machinery) | &nbsp;&nbsp; 3152 | &nbsp;&nbsp; 2389689 |
| Republic Services, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 1785 | &nbsp;&nbsp; 409622 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 3877 | &nbsp;&nbsp; 648738 |
| Trane Technologies PLC (Building Products) | &nbsp;&nbsp; 2095 | &nbsp;&nbsp; 884006 |
| Union Pacific Corp. (Ground Transportation) | &nbsp;&nbsp; 11156 | &nbsp;&nbsp; 2636944 |
| Waste Management, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 2242 | &nbsp;&nbsp; 495101 |
| Westinghouse Air Brake Technologies Corp. (Machinery) | &nbsp;&nbsp; 1957 | &nbsp;&nbsp; 392320 |
|  |  | &nbsp;&nbsp; 24484912 |
| **Information Technology–25.1%** |  |  |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4437 | &nbsp;&nbsp; 1565152 |
| Advanced Micro Devices, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 3470 | &nbsp;&nbsp; 561411 |
| Amphenol Corp. Class A (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 19014 | &nbsp;&nbsp; 2352983 |
| Apple, Inc. (Tech. Hardware, Storage & Periph.) | &nbsp;&nbsp; 79060 | &nbsp;&nbsp; 20131048 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 10524 | &nbsp;&nbsp; 1533452 |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 21531 | &nbsp;&nbsp; 7103292 |
| Elastic N.V. (Software)<br> (a) | &nbsp;&nbsp; 5672 | &nbsp;&nbsp; 479227 |
| Figma, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1520 | &nbsp;&nbsp; 78842 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 840 | &nbsp;&nbsp; 392952 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 2884 | &nbsp;&nbsp; 1969513 |
| Lam Research Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 24857 | &nbsp;&nbsp; 3328352 |
| Micron Technology, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 3373 | &nbsp;&nbsp; 564370 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 41092 | &nbsp;&nbsp; 21283602 |
| Motorola Solutions, Inc. (Communications Equip.) | &nbsp;&nbsp; 3756 | &nbsp;&nbsp; 1717581 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 129526 | &nbsp;&nbsp; 24166961 |
| Oracle Corp. (Software) | &nbsp;&nbsp; 3579 | &nbsp;&nbsp; 1006558 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 9768 | &nbsp;&nbsp; 1781879 |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 9834 | &nbsp;&nbsp; 1635984 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 8051 | &nbsp;&nbsp; 1908087 |
| ServiceNow, Inc. (Software)<br> (a) | &nbsp;&nbsp; 1050 | &nbsp;&nbsp; 966294 |
|  |  | &nbsp;&nbsp; 94527540 |
| **Materials–0.7%** |  |  |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp; 29581 | &nbsp;&nbsp; 2000563 |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp; 9709 | &nbsp;&nbsp; 818566 |
|  |  | &nbsp;&nbsp; 2819129 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate–1.1%** |  |  |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 13971 | &nbsp;&nbsp; $568061 |
| Equinix, Inc. (Specialized REITs) | &nbsp;&nbsp; 1877 | &nbsp;&nbsp; 1470142 |
| Simon Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 10538 | &nbsp;&nbsp; 1977666 |
|  |  | &nbsp;&nbsp; 4015869 |
| **Utilities–1.5%** |  |  |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 12704 | &nbsp;&nbsp; 1277006 |
| Edison International (Electric Utilities) | &nbsp;&nbsp; 11178 | &nbsp;&nbsp; 617920 |
| Entergy Corp. (Electric Utilities) | &nbsp;&nbsp; 34096 | &nbsp;&nbsp; 3177406 |
| PG&E Corp. (Electric Utilities) | &nbsp;&nbsp; 33507 | &nbsp;&nbsp; 505286 |
|  |  | &nbsp;&nbsp; 5577618 |
| **Total Common Stocks (Cost $191,516,531)** |  | &nbsp;&nbsp; $269775203 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds–26.2%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services–1.9%** |  |  |  |  |
| AT&T, Inc. (Diversified Telecom. Svs.) | 4.900% | 08/15/2037 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $975180 |
| Comcast Corp. (Media) | 3.250% | 11/01/2039 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1596895 |
| Cox Communications, Inc. (Media)<br> (b) | 4.500% | 06/30/2043 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 805272 |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (b) | 4.876% | 07/16/2030 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 396268 |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (b) | 5.502% | 07/16/2035 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 403411 |
| Time Warner Cable LLC (Media) | 6.550% | 05/01/2037 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1040262 |
| T-Mobile U.S.A., Inc. (Wireless Telecom. Svs.) | 3.875% | 04/15/2030 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1176706 |
| Verizon Communications, Inc. (Diversified Telecom. Svs.) | 4.125% | 08/15/2046 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 612120 |
|  |  |  |  | &nbsp;&nbsp; 7006114 |
| **Consumer Discretionary–1.0%** |  |  |  |  |
| Amazon.com, Inc. (Broadline Retail) | 3.875% | 08/22/2037 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 460994 |
| Beach Acquisition Bidco LLC (Textiles, Apparel & Luxury Goods)<br> (b)(c) | 10.000%, 10.750% PIK | 07/15/2033 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 679557 |
| Hasbro, Inc. (Leisure Products) | 3.900% | 11/19/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 974012 |
| Lear Corp. (Automobile Components) | 3.500% | 05/30/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 956252 |
| Lowe's Cos., Inc. (Specialty Retail) | 3.000% | 10/15/2050 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 646983 |
|  |  |  |  | &nbsp;&nbsp; 3717798 |
| **Consumer Staples–1.7%** |  |  |  |  |
| Altria Group, Inc. (Tobacco) | 5.625% | 02/06/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1038137 |
| B.A.T. Capital Corp. (Tobacco) | 4.700% | 04/02/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1006621 |
| Hershey Co. / The (Food Products) | 1.700% | 06/01/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 894959 |
| Imperial Brands Finance PLC (Tobacco)<br> (b) | 5.625% | 07/01/2035 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 509963 |
| &nbsp;&nbsp;&nbsp; JBS U.S.A. Holding Lux SARL / JBS U.S.A. Foods Group Holdings, Inc. / JBS U.S.A. Food Co. <br> (Food Products)<br>(b) | 6.375% | 04/15/2066 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 411216 |
| Kellanova (Food Products) | 4.500% | 04/01/2046 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 876284 |
| Kraft Heinz Foods Co. (Food Products) | 4.625% | 10/01/2039 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 911733 |
| Philip Morris International, Inc. (Tobacco) | 3.375% | 08/15/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 972150 |
|  |  |  |  | &nbsp;&nbsp; 6621063 |
| **Energy–1.9%** |  |  |  |  |
| Devon Energy Corp. (Oil, Gas & Consumable Fuels) | 5.200% | 09/15/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 995673 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 4.950% | 06/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1017248 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 5.700% | 04/01/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1032579 |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 5.300% | 12/01/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1020270 |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 5.550% | 10/01/2034 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1217543 |
| Occidental Petroleum Corp. (Oil, Gas & Consumable Fuels) | 6.050% | 10/01/2054 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 683065 |
| Sunoco LP (Oil, Gas & Consumable Fuels)<br> (b) | 5.875% | 03/15/2034 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 337056 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 3.750% | 06/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 993210 |
|  |  |  |  | &nbsp;&nbsp; 7296644 |
| **Financials–9.7%** |  |  |  |  |
| Ally Financial, Inc. (Rate is fixed until 01/17/2030, then SOFRINDX + 173) (Consumer Finance)<br> (d) | 5.543% | 01/17/2031 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 713098 |
| Antares Holdings LP (Capital Markets)<br> (b) | 2.750% | 01/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 969101 |
| Apollo Debt Solutions BDC (Capital Markets) | 6.700% | 07/29/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1059812 |
| Avolon Holdings Funding Ltd. (Financial Services)<br> (b) | 4.900% | 10/10/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1005471 |
| Bank of America Corp. (Rate is fixed until 01/24/2035, then SOFR + 131) (Banks)<br> (d) | 5.511% | 01/24/2036 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 522656 |
| Bank of Nova Scotia / The (Rate is fixed until 10/27/2035, then H15T5Y + 273) (Banks)<br> (d) | 6.875% | 10/27/2085 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1495529 |
| Belrose Funding Trust II (Insurance)<br> (b) | 6.792% | 05/15/2055 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 812203 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (Rate is fixed until 09/11/2030, then SOFR + 125) <br> (Consumer Finance)<br>(d) | 4.493% | 09/11/2031 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 595147 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (Rate is fixed until 09/11/2035, then SOFR + 163) <br> (Consumer Finance)<br>(d) | 5.197% | 09/11/2036 | &nbsp;&nbsp; 744000 | &nbsp;&nbsp; 735817 |
| Capital One N.A. (Banks) | USISOA05 + 173 | 08/09/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1035476 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials (continued)** |  |  |  |  |
| Citigroup, Inc. (Rate is fixed until 05/01/2031, then SOFR + 117) (Banks)<br> (d) | 2.561% | 05/01/2032 | &nbsp;&nbsp; $1500000 | &nbsp;&nbsp; $1351948 |
| Federation des Caisses Desjardins du Quebec (Banks)<br> (b) | 4.565% | 08/26/2030 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 703872 |
| First Citizens BancShares, Inc. (Rate is fixed until 09/05/2030, then H15T5Y + 185) (Banks)<br> (d) | 5.600% | 09/05/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 997358 |
| First Horizon Bank (Banks) | 5.750% | 05/01/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1031703 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 5.125% | 11/05/2026 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1003314 |
| General Motors Financial Co., Inc. (Consumer Finance) | 2.700% | 06/10/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1788014 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 07/23/2034, then SOFR + 155) <br> (Capital Markets)<br>(d) | 5.330% | 07/23/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1029444 |
| Hyundai Capital America (Consumer Finance)<br> (b) | 5.300% | 01/08/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1027057 |
| ING Groep N.V. (Rate is fixed until 11/16/2032, then USISSO05 + 359) (Banks)<br> (d) | 7.000% | Perpetual | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1031076 |
| KBC Group N.V. (Rate is fixed until 09/23/2030, then H15T1Y + 85) (Banks)<br> (b)(d) | 4.454% | 09/23/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 994704 |
| M&T Bank Corp. (Rate is fixed until 07/30/2030, then H15T5Y + 143) (Banks)<br> (d) | 5.400% | 07/30/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1007603 |
| Macquarie Bank Ltd. (Rate is fixed until 08/13/2035, then H15T1Y + 145) (Capital Markets)<br> (b)(d) | 5.642% | 08/13/2036 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 607778 |
| Morgan Stanley (Rate is fixed until 07/19/2034, then SOFR + 156) (Capital Markets)<br> (d) | 5.320% | 07/19/2035 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 928664 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank N.A. (Rate is fixed until 07/06/2027, then SOFR + 77) <br> (Capital Markets)<br>(d) | 4.466% | 07/06/2028 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502804 |
| Oaktree Strategic Credit Fund (Capital Markets) | 6.500% | 07/23/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1036372 |
| Prudential Financial, Inc. (Rate is fixed until 09/15/2027, then QL + 238) (Insurance)<br> (d) | 4.500% | 09/15/2047 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 691170 |
| Santander Holdings U.S.A., Inc. (Rate is fixed until 01/06/2027, then SOFR + 125) (Banks)<br> (d) | 2.490% | 01/06/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 975762 |
| Sixth Street Lending Partners (Capital Markets)<br> (b) | 6.125% | 07/15/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 620325 |
| State Street Corp. (Capital Markets) | 2.200% | 03/03/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 891896 |
| Sumitomo Mitsui Trust Group, Inc. (Rate is fixed until 09/11/2035, then SOFR + 165) (Banks)<br> (b)(d) | 5.416% | 09/11/2036 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 353969 |
| Synchrony Financial (Rate is fixed until 07/29/2035, then SOFR + 207) (Consumer Finance)<br> (d) | 6.000% | 07/29/2036 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1022841 |
| Toronto-Dominion Bank / The (Rate is fixed until 10/31/2030, then H15T5Y + 272) (Banks)<br> (d) | 6.350% | 10/31/2085 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1002500 |
| Truist Bank (Rate is fixed until 07/24/2027, then SOFR + 77) (Banks)<br> (d) | 4.420% | 07/24/2028 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 753200 |
| Truist Bank (Rate is fixed until 09/17/2029, then H15T5Y + 115) (Banks)<br> (d) | 4.632% | 09/17/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1007476 |
| UBS Group AG (Rate is fixed until 08/05/2035, then USISSO05 + 330) (Capital Markets)<br> (b)(d) | 7.000% | Perpetual | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 509714 |
| UBS Group AG (Rate is fixed until 09/23/2030, then SOFR + 106) (Capital Markets)<br> (b)(d) | 4.398% | 09/23/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 996607 |
| UBS Group AG (Rate is fixed until 03/23/2036, then SOFR + 134) (Capital Markets)<br> (b)(d) | 5.010% | 03/23/2037 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 995179 |
| Webster Financial Corp. (Rate is fixed until 09/11/2030, then H15T5Y + 213) (Banks)<br> (d) | 5.784% | 09/11/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1000117 |
| Wells Fargo & Co. (Rate is fixed until 04/30/2040, then SOFR + 253) (Banks)<br> (d) | 3.068% | 04/30/2041 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 776287 |
| Zions Bancorp N.A. (Rate is fixed until 08/18/2027, then SOFR + 116) (Banks)<br> (d) | 4.704% | 08/18/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1003108 |
|  |  |  |  | &nbsp;&nbsp; 36586172 |
| **Health Care–1.8%** |  |  |  |  |
| AbbVie, Inc. (Biotechnology) | 3.200% | 11/21/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 964750 |
| Cardinal Health, Inc. (Health Care Providers & Svs.) | 5.150% | 09/15/2035 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 603572 |
| CVS Health Corp. (Health Care Providers & Svs.) | 5.000% | 09/15/2032 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1012236 |
| HCA, Inc. (Health Care Providers & Svs.) | 5.500% | 03/01/2032 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1041831 |
| Regeneron Pharmaceuticals, Inc. (Biotechnology) | 1.750% | 09/15/2030 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1058391 |
| UnitedHealth Group, Inc. (Health Care Providers & Svs.) | 5.500% | 07/15/2044 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2003777 |
|  |  |  |  | &nbsp;&nbsp; 6684557 |
| **Industrials–0.8%** |  |  |  |  |
| FedEx Corp. (Air Freight & Logistics)<br> (b) | 4.900% | 01/15/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 987198 |
| TTX Co. (Ground Transportation)<br> (b) | 5.650% | 12/01/2052 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1021887 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 4.875% | 01/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 996947 |
|  |  |  |  | &nbsp;&nbsp; 3006032 |
| **Information Technology–1.4%** |  |  |  |  |
| Broadcom, Inc. (Semiconductors & Equip.) | 5.200% | 07/15/2035 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 721421 |
| HP, Inc. (Tech. Hardware, Storage & Periph.) | 2.650% | 06/17/2031 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1804122 |
| NXP B.V. / NXP Funding LLC / NXP U.S.A., Inc. (Semiconductors & Equip.) | 4.850% | 08/19/2032 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600721 |
| Oracle Corp. (Software) | 4.300% | 07/08/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 956752 |
| VMware LLC (Software) | 2.200% | 08/15/2031 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1058427 |
|  |  |  |  | &nbsp;&nbsp; 5141443 |
| **Materials–0.7%** |  |  |  |  |
| Corp. Nacional del Cobre de Chile (Metals & Mining)<br> (b) | 6.330% | 01/13/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 426500 |
| Dow Chemical Co. / The (Chemicals) | 4.250% | 10/01/2034 | &nbsp;&nbsp; 402000 | &nbsp;&nbsp; 371153 |
| Glencore Funding LLC (Metals & Mining)<br> (b) | 2.850% | 04/27/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 917237 |
| Kinross Gold Corp. (Metals & Mining) | 4.500% | 07/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1004016 |
|  |  |  |  | &nbsp;&nbsp; 2718906 |
| **Real Estate–1.8%** |  |  |  |  |
| Alexandria Real Estate Equities, Inc. (Health Care REITs) | 3.950% | 01/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 994174 |
| American Tower Corp. (Specialized REITs) | 2.750% | 01/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 982327 |
| Brixmor Operating Partnership LP (Retail REITs) | 4.850% | 02/15/2033 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp; 658551 |
| COPT Defense Properties LP (Office REITs) | 4.500% | 10/15/2030 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 645714 |
| Essential Properties LP (Diversified REITs) | 5.400% | 12/01/2035 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 702626 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Real Estate (continued)** |  |  |  |  |
| Extra Space Storage LP (Specialized REITs) | 4.950% | 01/15/2033 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1005898 |
| Kilroy Realty LP (Office REITs) | 4.250% | 08/15/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 981010 |
| VICI Properties LP / VICI Note Co., Inc. (Specialized REITs)<br> (b) | 4.500% | 09/01/2026 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 999965 |
|  |  |  |  | &nbsp;&nbsp; 6970265 |
| **Utilities–3.5%** |  |  |  |  |
| AEP Transmission Co. LLC (Electric Utilities) | 4.000% | 12/01/2046 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 807604 |
| AEP Transmission Co. LLC (Electric Utilities) | 3.750% | 12/01/2047 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 776205 |
| Black Hills Corp. (Multi-Utilities) | 3.050% | 10/15/2029 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 949746 |
| Commonwealth Edison Co. (Electric Utilities) | 4.350% | 11/15/2045 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 860530 |
| Commonwealth Edison Co. (Electric Utilities) | 5.650% | 06/01/2054 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1016710 |
| Connecticut Light & Power Co. / The (Electric Utilities) | 4.000% | 04/01/2048 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 809157 |
| Consolidated Edison Co. of New York, Inc. (Electric Utilities) | 5.700% | 05/15/2054 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1024928 |
| Dominion Energy, Inc. (Rate is fixed until 02/15/2031, then H15T5Y + 226) (Multi-Utilities)<br> (d) | 6.000% | 02/15/2056 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503577 |
| Duke Energy Corp. (Electric Utilities) | 3.750% | 09/01/2046 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 766601 |
| Duke Energy Indiana LLC (Electric Utilities) | 3.250% | 10/01/2049 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 696832 |
| Enel Finance International N.V. (Electric Utilities)<br> (b) | 5.750% | 09/30/2055 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 981657 |
| FirstEnergy Transmission LLC (Electric Utilities)<br> (b) | 4.550% | 04/01/2049 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 853630 |
| Florida Power & Light Co. (Electric Utilities) | 3.150% | 10/01/2049 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 698101 |
| Jersey Central Power & Light Co. (Electric Utilities) | 5.100% | 01/15/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1013477 |
| Public Service Electric & Gas Co. (Multi-Utilities) | 3.600% | 12/01/2047 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 763705 |
| Sempra (Rate is fixed until 04/01/2031, then H15T5Y + 263) (Multi-Utilities)<br> (d) | 6.375% | 04/01/2056 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 667061 |
|  |  |  |  | &nbsp;&nbsp; 13189521 |
| **Total Corporate Bonds (Cost $103,545,416)** |  |  |  | &nbsp;&nbsp; $98938515 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset-Backed Securities–0.7%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Industrials–0.7%** |  |  |  |  |
| FedEx Corp. 2020-1 Class AA Pass Through Trust  | 1.875% | 02/20/2034 | &nbsp;&nbsp; $1465274 | &nbsp;&nbsp; $1268032 |
| United Airlines 2016-1 Class B Pass Through Trust  | 3.650% | 01/07/2026 | &nbsp;&nbsp; 71528 | &nbsp;&nbsp; 71144 |
| United Airlines 2019-2 Class AA Pass Through Trust  | 2.700% | 05/01/2032 | &nbsp;&nbsp; 1324557 | &nbsp;&nbsp; 1214480 |
| **Total Asset-Backed Securities (Cost $2,801,971)** |  |  |  | &nbsp;&nbsp; $2553656 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–0.7%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bond | 4.875% | 08/15/2045 | &nbsp;&nbsp; $1850000 | &nbsp;&nbsp; $1891336 |
| U.S. Treasury Bond | 4.750% | 08/15/2055 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 652234 |
| **Total U.S. Treasury Obligations (Cost $2,544,857)** |  |  |  | &nbsp;&nbsp; $2543570 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Preferred Securities–0.4%** | **Rate** | **Quantity** | **Value** |
| **Financials–0.4%** |  |  |  |
| Bank of America Corp. (Rate is fixed until 07/26/2030, then H15T5Y + 235) (Banks)<br> (d) | 6.250% | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; $1012776 |
| Huntington Bancshares, Inc. (Rate is fixed until 10/15/2030, then H15T5Y + 265) (Banks)<br> (d) | 6.250% | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 598420 |
| **Total Preferred Securities (Cost $1,600,000)** |  |  | &nbsp;&nbsp; $1611196 |
| **Total Investments – 99.5% (Cost $302,008,775)**<br> (e) |  |  | &nbsp;&nbsp; $375422140 |
| **Other Assets in Excess of Liabilities – 0.5%**<br> (f) |  |  | &nbsp;&nbsp; 1894347 |
| **Net Assets – 100.0%** |  |  | &nbsp;&nbsp; $377316487 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T1Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 1 Year, 3.680% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T5Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 5 Year, 3.740% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIK: | Payment-in-Kind |
| &nbsp;&nbsp;&nbsp;&nbsp; QL: | Quarterly U.S. LIBOR Rate. This rate is linked to U.S. LIBOR, which is no longer published. An alternate reference rate will be determined by the issuer <br> prior to the date the security becomes a variable rate instrument.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFR: | Secured Overnight Financing Rate, 4.240% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFRINDX: | Secured Overnight Financing Rate ("SOFR") Compounded Index, 1.214% at 9/30/2025  |
| &nbsp;&nbsp;&nbsp;&nbsp; USISOA05: | 5 Year Secured Overnight Financing Rate ("SOFR") Spread-Adjusted ICE Swap Rate, 3.644% at 9/30/2025 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Balanced Allocation Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security exempt from registration under Regulation D of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, <br> normally to qualified buyers under Rule 144A. At September 30, 2025, the value of these securities totaled $19,326,797, or 5.1% of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Issuer of the security has the option to make coupon payments in cash or in additional par value of this bond (Payment-in-Kind). |
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Security is a fixed-then-variable rate instrument in which the coupon or dividend rate is fixed until a later specified date, then is adjusted periodically. Rates <br> stated, including interest rate caps and floors, if any, are those in effect at September 30, 2025.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (e) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (f) | Includes $261,510 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT U.S. Ultra Bond - Long | 6 | December 19, 2025 | &nbsp;&nbsp; $724137 | &nbsp;&nbsp; $720375 | &nbsp;&nbsp; $(3762)<br>| &nbsp;&nbsp; $(3762)<br>|
| CME E-mini S&P 500 Index - Long | 11 | December 19, 2025 | &nbsp;&nbsp; 3693139 | &nbsp;&nbsp; 3706313 | &nbsp;&nbsp; 13174 | &nbsp;&nbsp; 13174 |
|  |  |  | &nbsp;&nbsp; $4417276 | &nbsp;&nbsp; $4426688 | &nbsp;&nbsp; $9412 | &nbsp;&nbsp; $9412 |

---

**Short Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Treasury Note - Short | 2 | December 19, 2025 | &nbsp;&nbsp; $(226995)<br>| &nbsp;&nbsp; $(225000)<br>| &nbsp;&nbsp; $1995 | &nbsp;&nbsp; $30 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$4190281** | &nbsp;&nbsp; **$4201688** | &nbsp;&nbsp; **$11407** | &nbsp;&nbsp; **$9442** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage International Equity Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–97.7%** | **Shares** | **Value** |
| **Japan–22.6%** |  |  |
| Amada Co. Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 35600 | &nbsp;&nbsp; $437595 |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 46239 |
| &nbsp;&nbsp;&nbsp; Brother Industries Ltd. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 10700 | &nbsp;&nbsp; 178934 |
| Canon, Inc. (Information Technology)<br> (a) | &nbsp;&nbsp; 112000 | &nbsp;&nbsp; 3278625 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co. Ltd. <br> (Health Care)<br>(a) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 39812 |
| &nbsp;&nbsp;&nbsp; Concordia Financial Group Ltd. <br> (Financials)<br>(a) | &nbsp;&nbsp; 14200 | &nbsp;&nbsp; 108927 |
| Dai-ichi Life Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 63900 | &nbsp;&nbsp; 502692 |
| Daiichi Sankyo Co. Ltd. (Health Care)<br> (a) | &nbsp;&nbsp; 9500 | &nbsp;&nbsp; 212632 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 24700 | &nbsp;&nbsp; 200431 |
| DMG Mori Co. Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 19200 | &nbsp;&nbsp; 384685 |
| ENEOS Holdings, Inc. (Energy)<br> (a) | &nbsp;&nbsp; 397000 | &nbsp;&nbsp; 2520373 |
| FANUC Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 26000 | &nbsp;&nbsp; 740869 |
| Fujitsu Ltd. (Information Technology)<br> (a) | &nbsp;&nbsp; 60600 | &nbsp;&nbsp; 1424848 |
| Hitachi Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 138400 | &nbsp;&nbsp; 3634385 |
| &nbsp;&nbsp;&nbsp; Honda Motor Co. Ltd. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 82188 |
| Hulic Co. Ltd. (Real Estate)<br> (a) | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 78912 |
| Inpex Corp. (Energy)<br> (a) | &nbsp;&nbsp; 21800 | &nbsp;&nbsp; 392093 |
| Japan Post Bank Co. Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 31400 | &nbsp;&nbsp; 384792 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. <br> (Financials)<br>(a) | &nbsp;&nbsp; 95100 | &nbsp;&nbsp; 944136 |
| &nbsp;&nbsp;&nbsp; Japan Post Insurance Co. Ltd. <br> (Financials)<br>(a) | &nbsp;&nbsp; 1700 | &nbsp;&nbsp; 48131 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. <br> (Consumer Staples)<br>(a) | &nbsp;&nbsp; 97800 | &nbsp;&nbsp; 3214444 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 223399 |
| Kubota Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 12400 | &nbsp;&nbsp; 155805 |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 35325 |
| &nbsp;&nbsp;&nbsp; McDonald's Holdings Co. Japan Ltd. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 201548 |
| Mitsubishi Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 3200 | &nbsp;&nbsp; 76281 |
| Mitsubishi Estate Co. Ltd. (Real Estate)<br> (a) | &nbsp;&nbsp; 14900 | &nbsp;&nbsp; 343126 |
| Mitsubishi HC Capital, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 17200 | &nbsp;&nbsp; 142055 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries Ltd. <br> (Industrials)<br>(a) | &nbsp;&nbsp; 44300 | &nbsp;&nbsp; 1157559 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 204300 | &nbsp;&nbsp; 3236392 |
| Mitsui & Co. Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 170300 | &nbsp;&nbsp; 4228922 |
| Mitsui Fudosan Co. Ltd. (Real Estate)<br> (a) | &nbsp;&nbsp; 214500 | &nbsp;&nbsp; 2343242 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 42600 | &nbsp;&nbsp; 1425820 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 521794 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co. Ltd. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 124800 | &nbsp;&nbsp; 2368380 |
| NEC Corp. (Information Technology)<br> (a) | &nbsp;&nbsp; 121300 | &nbsp;&nbsp; 3877851 |
| Nomura Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 118700 | &nbsp;&nbsp; 869202 |
| &nbsp;&nbsp;&nbsp; Nomura Real Estate Holdings, Inc. <br> (Real Estate)<br>(a) | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 828968 |
| Obayashi Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 10300 | &nbsp;&nbsp; 169008 |
| ORIX Corp. (Financials)<br> (a) | &nbsp;&nbsp; 20800 | &nbsp;&nbsp; 543160 |
| &nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 185500 | &nbsp;&nbsp; 1223674 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 30200 | &nbsp;&nbsp; 328017 |
| Recruit Holdings Co. Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 50200 | &nbsp;&nbsp; 2693436 |
| Resona Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 37500 | &nbsp;&nbsp; 381749 |
| Shimizu Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 60200 | &nbsp;&nbsp; 844898 |
| SMC Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 122404 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 551900 | &nbsp;&nbsp; 811749 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Japan (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 14200 | &nbsp;&nbsp; $1803544 |
| Sompo Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 64800 | &nbsp;&nbsp; 2001330 |
| Sony Financial Group, Inc. (Financials)<br> (b)(c) | &nbsp;&nbsp; 215500 | &nbsp;&nbsp; 238983 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 215500 | &nbsp;&nbsp; 6183818 |
| Sumitomo Chemical Co. Ltd. (Materials)<br> (a) | &nbsp;&nbsp; 159700 | &nbsp;&nbsp; 503638 |
| Sumitomo Corp. (Industrials)<br> (a) | &nbsp;&nbsp; 98800 | &nbsp;&nbsp; 2859261 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 191700 | &nbsp;&nbsp; 5366344 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group, Inc. <br> (Financials)<br>(a) | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 348181 |
| Sysmex Corp. (Health Care)<br> (a) | &nbsp;&nbsp; 28300 | &nbsp;&nbsp; 350937 |
| T&D Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 8800 | &nbsp;&nbsp; 215066 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. <br> (Health Care)<br>(a) | &nbsp;&nbsp; 52700 | &nbsp;&nbsp; 1538510 |
| Terumo Corp. (Health Care)<br> (a) | &nbsp;&nbsp; 118500 | &nbsp;&nbsp; 1955698 |
| Tokio Marine Holdings, Inc. (Financials)<br> (a) | &nbsp;&nbsp; 33800 | &nbsp;&nbsp; 1429929 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron Ltd. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 18300 | &nbsp;&nbsp; 3299490 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 219900 | &nbsp;&nbsp; 4208370 |
| Unicharm Corp. (Consumer Staples)<br> (a) | &nbsp;&nbsp; 56600 | &nbsp;&nbsp; 369045 |
|  |  | &nbsp;&nbsp; 80681651 |
| **United Kingdom–14.5%** |  |  |
| Admiral Group PLC (Financials)<br> (a) | &nbsp;&nbsp; 703 | &nbsp;&nbsp; 31784 |
| AstraZeneca PLC (Health Care)<br> (a) | &nbsp;&nbsp; 32533 | &nbsp;&nbsp; 4969523 |
| BAE Systems PLC (Industrials)<br> (a) | &nbsp;&nbsp; 158395 | &nbsp;&nbsp; 4389100 |
| Barclays PLC (Financials)<br> (a) | &nbsp;&nbsp; 920721 | &nbsp;&nbsp; 4721271 |
| Beazley PLC (Financials)<br> (a) | &nbsp;&nbsp; 2694 | &nbsp;&nbsp; 32958 |
| BP PLC (Energy)<br> (a) | &nbsp;&nbsp; 87635 | &nbsp;&nbsp; 502713 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 14082 | &nbsp;&nbsp; 479767 |
| GSK PLC (Health Care)<br> (a) | &nbsp;&nbsp; 162701 | &nbsp;&nbsp; 3498126 |
| Halma PLC (Information Technology)<br> (a) | &nbsp;&nbsp; 13480 | &nbsp;&nbsp; 625683 |
| HSBC Holdings PLC (Financials)<br> (a) | &nbsp;&nbsp; 137130 | &nbsp;&nbsp; 1935557 |
| IG Group Holdings PLC (Financials)<br> (a) | &nbsp;&nbsp; 30178 | &nbsp;&nbsp; 437617 |
| &nbsp;&nbsp;&nbsp; Imperial Brands PLC <br> (Consumer Staples)<br>(a) | &nbsp;&nbsp; 66678 | &nbsp;&nbsp; 2832461 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 10768 | &nbsp;&nbsp; 1305078 |
| Intertek Group PLC (Industrials)<br> (a) | &nbsp;&nbsp; 24319 | &nbsp;&nbsp; 1554602 |
| J Sainsbury PLC (Consumer Staples)<br> (a) | &nbsp;&nbsp; 124753 | &nbsp;&nbsp; 561491 |
| Lloyds Banking Group PLC (Financials)<br> (a) | &nbsp;&nbsp; 1071209 | &nbsp;&nbsp; 1206662 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC <br> (Financials)<br>(a) | &nbsp;&nbsp; 34584 | &nbsp;&nbsp; 3971352 |
| NatWest Group PLC (Financials)<br> (a) | &nbsp;&nbsp; 273612 | &nbsp;&nbsp; 1920506 |
| Next PLC (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 11124 | &nbsp;&nbsp; 1852991 |
| RELX PLC (Industrials)<br> (a) | &nbsp;&nbsp; 12650 | &nbsp;&nbsp; 604192 |
| &nbsp;&nbsp;&nbsp; Rightmove PLC <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 30866 | &nbsp;&nbsp; 294390 |
| Rio Tinto PLC (Materials)<br> (a) | &nbsp;&nbsp; 5262 | &nbsp;&nbsp; 346767 |
| Rolls-Royce Holdings PLC (Industrials)<br> (a) | &nbsp;&nbsp; 277789 | &nbsp;&nbsp; 4447344 |
| &nbsp;&nbsp;&nbsp; Sage Group PLC / The <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 94024 | &nbsp;&nbsp; 1396026 |
| Shell PLC (Energy)<br> (a) | &nbsp;&nbsp; 69938 | &nbsp;&nbsp; 2490043 |
| Smiths Group PLC (Industrials)<br> (a) | &nbsp;&nbsp; 52296 | &nbsp;&nbsp; 1668260 |
| Unilever PLC (Consumer Staples)<br> (a) | &nbsp;&nbsp; 26445 | &nbsp;&nbsp; 1563221 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 1867185 | &nbsp;&nbsp; 2165179 |
|  |  | &nbsp;&nbsp; 51804664 |
| **France–11.4%** |  |  |
| Air Liquide SA (Materials)<br> (a) | &nbsp;&nbsp; 9751 | &nbsp;&nbsp; 2029295 |
| AXA SA (Financials)<br> (a) | &nbsp;&nbsp; 31738 | &nbsp;&nbsp; 1519644 |
| BNP Paribas SA (Financials)<br> (a) | &nbsp;&nbsp; 46572 | &nbsp;&nbsp; 4245420 |
| Bureau Veritas SA (Industrials)<br> (a) | &nbsp;&nbsp; 44859 | &nbsp;&nbsp; 1408508 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage International Equity Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **France (continued)** |  |  |
| Carrefour SA (Consumer Staples)<br> (a) | &nbsp;&nbsp; 29186 | &nbsp;&nbsp; $441919 |
| Credit Agricole SA (Financials)<br> (a) | &nbsp;&nbsp; 111850 | &nbsp;&nbsp; 2202478 |
| Danone SA (Consumer Staples)<br> (a) | &nbsp;&nbsp; 8546 | &nbsp;&nbsp; 744565 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 27102 | &nbsp;&nbsp; 911685 |
| Eiffage SA (Industrials)<br> (a) | &nbsp;&nbsp; 1992 | &nbsp;&nbsp; 256203 |
| Engie SA (Utilities)<br> (a) | &nbsp;&nbsp; 94017 | &nbsp;&nbsp; 2016719 |
| &nbsp;&nbsp;&nbsp; Hermes International SCA <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 1094 | &nbsp;&nbsp; 2682955 |
| Ipsen SA (Health Care)<br> (a) | &nbsp;&nbsp; 5550 | &nbsp;&nbsp; 747140 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 6134 | &nbsp;&nbsp; 3753297 |
| &nbsp;&nbsp;&nbsp; Publicis Groupe SA <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 18828 | &nbsp;&nbsp; 1807243 |
| Safran SA (Industrials)<br> (a) | &nbsp;&nbsp; 18464 | &nbsp;&nbsp; 6538855 |
| Sanofi SA (Health Care)<br> (a) | &nbsp;&nbsp; 25855 | &nbsp;&nbsp; 2443925 |
| Societe Generale SA (Financials)<br> (a) | &nbsp;&nbsp; 16884 | &nbsp;&nbsp; 1123045 |
| Thales SA (Industrials)<br> (a) | &nbsp;&nbsp; 7658 | &nbsp;&nbsp; 2399850 |
| TotalEnergies SE (Energy)<br> (a) | &nbsp;&nbsp; 44634 | &nbsp;&nbsp; 2723610 |
| Valeo SE (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 9348 | &nbsp;&nbsp; 115202 |
| Vinci SA (Industrials)<br> (a) | &nbsp;&nbsp; 4815 | &nbsp;&nbsp; 670434 |
|  |  | &nbsp;&nbsp; 40781992 |
| **Germany–11.0%** |  |  |
| adidas AG (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 14466 | &nbsp;&nbsp; 3051190 |
| Allianz SE (Financials)<br> (a) | &nbsp;&nbsp; 11813 | &nbsp;&nbsp; 4965506 |
| Deutsche Bank AG (Financials)<br> (a) | &nbsp;&nbsp; 51768 | &nbsp;&nbsp; 1820755 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 155761 | &nbsp;&nbsp; 5306863 |
| E.ON SE (Utilities)<br> (a) | &nbsp;&nbsp; 114429 | &nbsp;&nbsp; 2151519 |
| GEA Group AG (Industrials)<br> (a) | &nbsp;&nbsp; 9041 | &nbsp;&nbsp; 667919 |
| Heidelberg Materials AG (Materials)<br> (a) | &nbsp;&nbsp; 542 | &nbsp;&nbsp; 122020 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA <br> (Consumer Staples)<br>(a) | &nbsp;&nbsp; 606 | &nbsp;&nbsp; 44951 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 31672 | &nbsp;&nbsp; 1236213 |
| LEG Immobilien SE (Real Estate)<br> (a) | &nbsp;&nbsp; 2495 | &nbsp;&nbsp; 198353 |
| &nbsp;&nbsp;&nbsp; Muenchener <br> Rueckversicherungs-Gesellschaft AG <br> in Muenchen (Financials)<br>(a) | &nbsp;&nbsp; 3265 | &nbsp;&nbsp; 2086191 |
| &nbsp;&nbsp;&nbsp; Nemetschek SE <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 1856 | &nbsp;&nbsp; 241526 |
| Rheinmetall AG (Industrials)<br> (a) | &nbsp;&nbsp; 670 | &nbsp;&nbsp; 1559666 |
| SAP SE (Information Technology)<br> (a) | &nbsp;&nbsp; 33402 | &nbsp;&nbsp; 8954797 |
| Siemens AG (Industrials)<br> (a) | &nbsp;&nbsp; 7099 | &nbsp;&nbsp; 1915439 |
| Siemens Energy AG (Industrials)<br> (a)(c) | &nbsp;&nbsp; 38964 | &nbsp;&nbsp; 4555979 |
| Vonovia SE (Real Estate)<br> (a) | &nbsp;&nbsp; 7114 | &nbsp;&nbsp; 222030 |
|  |  | &nbsp;&nbsp; 39100917 |
| **Switzerland–9.3%** |  |  |
| ABB Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 85158 | &nbsp;&nbsp; 6137654 |
| Accelleron Industries AG (Industrials)<br> (a) | &nbsp;&nbsp; 5428 | &nbsp;&nbsp; 456952 |
| Belimo Holding AG (Industrials)<br> (a) | &nbsp;&nbsp; 149 | &nbsp;&nbsp; 156879 |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 3248 | &nbsp;&nbsp; 623223 |
| Givaudan SA (Materials)<br> (a) | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 1304431 |
| Glencore PLC (Materials)<br> (a) | &nbsp;&nbsp; 445686 | &nbsp;&nbsp; 2059626 |
| Holcim AG (Materials)<br> (a) | &nbsp;&nbsp; 3895 | &nbsp;&nbsp; 331492 |
| &nbsp;&nbsp;&nbsp; Logitech International SA <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 12058 | &nbsp;&nbsp; 1328027 |
| Nestle SA (Consumer Staples)<br> (a) | &nbsp;&nbsp; 15038 | &nbsp;&nbsp; 1381363 |
| Novartis AG (Health Care)<br> (a) | &nbsp;&nbsp; 65197 | &nbsp;&nbsp; 8383717 |
| Roche Holding Ltd. (Health Care)<br> (a) | &nbsp;&nbsp; 1546 | &nbsp;&nbsp; 533037 |
| Roche Holding Ltd. NVS (Health Care)<br> (a) | &nbsp;&nbsp; 13490 | &nbsp;&nbsp; 4439981 |
| SGS SA (Industrials)<br> (a) | &nbsp;&nbsp; 9983 | &nbsp;&nbsp; 1038386 |
| UBS Group AG (Financials)<br> (a) | &nbsp;&nbsp; 69842 | &nbsp;&nbsp; 2871107 |
| Zurich Insurance Group AG (Financials)<br> (a) | &nbsp;&nbsp; 3021 | &nbsp;&nbsp; 2156308 |
|  |  | &nbsp;&nbsp; 33202183 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Australia–6.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 80465 | &nbsp;&nbsp; $3737089 |
| BHP Group Ltd. (Materials)<br> (a) | &nbsp;&nbsp; 75830 | &nbsp;&nbsp; 2118795 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia <br> (Financials)<br>(a) | &nbsp;&nbsp; 50977 | &nbsp;&nbsp; 5636506 |
| CSL Ltd. (Health Care)<br> (a) | &nbsp;&nbsp; 7401 | &nbsp;&nbsp; 972287 |
| Evolution Mining Ltd. (Materials)<br> (a) | &nbsp;&nbsp; 204477 | &nbsp;&nbsp; 1473090 |
| JB Hi-Fi Ltd. (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 499 | &nbsp;&nbsp; 38236 |
| Macquarie Group Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 26464 | &nbsp;&nbsp; 3848991 |
| Pro Medicus Ltd. (Health Care)<br> (a) | &nbsp;&nbsp; 1992 | &nbsp;&nbsp; 407703 |
| Qantas Airways Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 31988 | &nbsp;&nbsp; 231945 |
| QBE Insurance Group Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 52988 | &nbsp;&nbsp; 722816 |
| &nbsp;&nbsp;&nbsp; REA Group Ltd. <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 6369 | &nbsp;&nbsp; 976422 |
| Santos Ltd. (Energy)<br> (a) | &nbsp;&nbsp; 36124 | &nbsp;&nbsp; 161787 |
| SEEK Ltd. (Communication Services)<br> (a) | &nbsp;&nbsp; 18021 | &nbsp;&nbsp; 340727 |
| Sonic Healthcare Ltd. (Health Care)<br> (a) | &nbsp;&nbsp; 23083 | &nbsp;&nbsp; 327555 |
| South32 Ltd. (Materials)<br> (a) | &nbsp;&nbsp; 123695 | &nbsp;&nbsp; 224577 |
| &nbsp;&nbsp;&nbsp; Telstra Group Ltd. <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 15479 | &nbsp;&nbsp; 49403 |
| &nbsp;&nbsp;&nbsp; Wesfarmers Ltd. <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 51954 | &nbsp;&nbsp; 3169581 |
|  |  | &nbsp;&nbsp; 24437510 |
| **Netherlands–3.6%** |  |  |
| Adyen N.V. (Financials)<br> (a)(c) | &nbsp;&nbsp; 351 | &nbsp;&nbsp; 563302 |
| Argenx SE (Health Care)<br> (a)(c) | &nbsp;&nbsp; 855 | &nbsp;&nbsp; 628067 |
| &nbsp;&nbsp;&nbsp; ASM International N.V. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 21039 |
| &nbsp;&nbsp;&nbsp; ASML Holding N.V. <br> (Information Technology)<br>(a) | &nbsp;&nbsp; 6889 | &nbsp;&nbsp; 6716516 |
| ASR Nederland N.V. (Financials)<br> (a) | &nbsp;&nbsp; 3626 | &nbsp;&nbsp; 246771 |
| NN Group N.V. (Financials)<br> (a) | &nbsp;&nbsp; 4787 | &nbsp;&nbsp; 337978 |
| Prosus N.V. (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 38439 | &nbsp;&nbsp; 2726046 |
| Wolters Kluwer N.V. (Industrials)<br> (a) | &nbsp;&nbsp; 10840 | &nbsp;&nbsp; 1479743 |
|  |  | &nbsp;&nbsp; 12719462 |
| **Spain–3.0%** |  |  |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y <br> Servicios SA (Industrials)<br>(a) | &nbsp;&nbsp; 6888 | &nbsp;&nbsp; 550931 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA <br> (Financials)<br>(a) | &nbsp;&nbsp; 28952 | &nbsp;&nbsp; 556993 |
| Banco Santander SA (Financials)<br> (a) | &nbsp;&nbsp; 381216 | &nbsp;&nbsp; 3984199 |
| Iberdrola SA (Utilities)<br> (a) | &nbsp;&nbsp; 60967 | &nbsp;&nbsp; 1155219 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA <br> (Consumer Discretionary)<br>(a) | &nbsp;&nbsp; 39227 | &nbsp;&nbsp; 2167142 |
| Repsol SA (Energy)<br> (a) | &nbsp;&nbsp; 6741 | &nbsp;&nbsp; 119641 |
| &nbsp;&nbsp;&nbsp; Telefonica SA <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 400826 | &nbsp;&nbsp; 2071673 |
|  |  | &nbsp;&nbsp; 10605798 |
| **Italy–2.9%** |  |  |
| A2A SpA (Utilities)<br> (a) | &nbsp;&nbsp; 52597 | &nbsp;&nbsp; 137547 |
| Amplifon SpA (Health Care)<br> (a) | &nbsp;&nbsp; 10159 | &nbsp;&nbsp; 166033 |
| Banca Mediolanum SpA (Financials)<br> (a) | &nbsp;&nbsp; 3998 | &nbsp;&nbsp; 80216 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA <br> (Financials)<br>(a) | &nbsp;&nbsp; 266573 | &nbsp;&nbsp; 2366957 |
| BPER Banca SPA (Financials)<br> (a) | &nbsp;&nbsp; 25991 | &nbsp;&nbsp; 288799 |
| Generali (Financials)<br> (a) | &nbsp;&nbsp; 16847 | &nbsp;&nbsp; 661982 |
| &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane SpA <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 26313 | &nbsp;&nbsp; 309219 |
| Intesa Sanpaolo SpA (Financials)<br> (a) | &nbsp;&nbsp; 271908 | &nbsp;&nbsp; 1798159 |
| Leonardo SpA (Industrials)<br> (a) | &nbsp;&nbsp; 7201 | &nbsp;&nbsp; 457435 |
| Nexi SpA (Financials)<br> (a) | &nbsp;&nbsp; 148647 | &nbsp;&nbsp; 841310 |
| Poste Italiane SpA (Financials)<br> (a) | &nbsp;&nbsp; 8142 | &nbsp;&nbsp; 193102 |
| Snam SpA (Utilities)<br> (a) | &nbsp;&nbsp; 215019 | &nbsp;&nbsp; 1291998 |
| UniCredit SpA (Financials)<br> (a) | &nbsp;&nbsp; 24944 | &nbsp;&nbsp; 1893841 |
|  |  | &nbsp;&nbsp; 10486598 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage International Equity Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Hong Kong–2.8%** |  |  |
| AIA Group Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 485600 | &nbsp;&nbsp; $4654592 |
| CK Hutchison Holdings Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 313000 | &nbsp;&nbsp; 2065682 |
| &nbsp;&nbsp;&nbsp; Jardine Matheson Holdings Ltd. <br> (Industrials)<br>(a) | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 189751 |
| &nbsp;&nbsp;&nbsp; Sun Hung Kai Properties Ltd. <br> (Real Estate)<br>(a) | &nbsp;&nbsp; 13000 | &nbsp;&nbsp; 155923 |
| Swire Pacific Ltd. Class A (Industrials)<br> (a) | &nbsp;&nbsp; 40500 | &nbsp;&nbsp; 343686 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co. Ltd. <br> (Industrials)<br>(a) | &nbsp;&nbsp; 114500 | &nbsp;&nbsp; 1468955 |
| WH Group Ltd. (Consumer Staples)<br> (a) | &nbsp;&nbsp; 1100500 | &nbsp;&nbsp; 1196159 |
|  |  | &nbsp;&nbsp; 10074748 |
| **Sweden–1.9%** |  |  |
| AddTech AB (Industrials)<br> (a) | &nbsp;&nbsp; 15155 | &nbsp;&nbsp; 495406 |
| Assa Abloy AB Class B (Industrials)<br> (a) | &nbsp;&nbsp; 23985 | &nbsp;&nbsp; 841566 |
| Atlas Copco AB Class A (Industrials)<br> (a) | &nbsp;&nbsp; 81902 | &nbsp;&nbsp; 1394640 |
| Atlas Copco AB Class B (Industrials)<br> (a) | &nbsp;&nbsp; 10342 | &nbsp;&nbsp; 156051 |
| Essity AB Class B (Consumer Staples)<br> (a) | &nbsp;&nbsp; 6129 | &nbsp;&nbsp; 160293 |
| Getinge AB Class B (Health Care)<br> (a) | &nbsp;&nbsp; 19240 | &nbsp;&nbsp; 416642 |
| Industrivarden AB Class A (Financials)<br> (a) | &nbsp;&nbsp; 1354 | &nbsp;&nbsp; 53954 |
| Investor AB Class B (Financials)<br> (a) | &nbsp;&nbsp; 21675 | &nbsp;&nbsp; 680855 |
| Saab AB Class B (Industrials)<br> (a) | &nbsp;&nbsp; 2245 | &nbsp;&nbsp; 136752 |
| Skanska AB Class B (Industrials)<br> (a) | &nbsp;&nbsp; 25574 | &nbsp;&nbsp; 666389 |
| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB <br> (Health Care)<br>(a)(c) | &nbsp;&nbsp; 5417 | &nbsp;&nbsp; 165665 |
| &nbsp;&nbsp;&nbsp; Tele2 AB Class B <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 36752 | &nbsp;&nbsp; 626977 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson <br> Class B (Information Technology)<br>(a) | &nbsp;&nbsp; 108361 | &nbsp;&nbsp; 898853 |
|  |  | &nbsp;&nbsp; 6694043 |
| **Finland–1.6%** |  |  |
| Nokia Oyj (Information Technology)<br> (a) | &nbsp;&nbsp; 341040 | &nbsp;&nbsp; 1634137 |
| Nordea Bank Abp (Financials)<br> (a) | &nbsp;&nbsp; 175267 | &nbsp;&nbsp; 2885161 |
| Sampo Oyj Class A (Financials)<br> (a) | &nbsp;&nbsp; 107274 | &nbsp;&nbsp; 1234752 |
|  |  | &nbsp;&nbsp; 5754050 |
| **Singapore–1.5%** |  |  |
| DBS Group Holdings Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 61500 | &nbsp;&nbsp; 2435702 |
| &nbsp;&nbsp;&nbsp; Singapore Technologies Engineering <br> Ltd. (Industrials)<br>(a) | &nbsp;&nbsp; 33900 | &nbsp;&nbsp; 226596 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications Ltd. <br> (Communication Services)<br>(a) | &nbsp;&nbsp; 886200 | &nbsp;&nbsp; 2835119 |
|  |  | &nbsp;&nbsp; 5497417 |
| **Norway–1.1%** |  |  |
| DNB Bank ASA (Financials)<br> (a) | &nbsp;&nbsp; 67565 | &nbsp;&nbsp; 1845117 |
| Equinor ASA (Energy)<br> (a) | &nbsp;&nbsp; 16933 | &nbsp;&nbsp; 414180 |
| Gjensidige Forsikring ASA (Financials)<br> (a) | &nbsp;&nbsp; 1171 | &nbsp;&nbsp; 34414 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Norway (continued)** |  |  |
| Kongsberg Gruppen ASA (Industrials)<br> (a) | &nbsp;&nbsp; 28220 | &nbsp;&nbsp; $901609 |
| Var Energi ASA (Energy)<br> (a) | &nbsp;&nbsp; 200709 | &nbsp;&nbsp; 671884 |
|  |  | &nbsp;&nbsp; 3867204 |
| **Ireland–1.1%** |  |  |
| Experian PLC (Industrials)<br> (a) | &nbsp;&nbsp; 75047 | &nbsp;&nbsp; 3779536 |
| **Israel–0.6%** |  |  |
| Bank Hapoalim BM (Financials)<br> (a) | &nbsp;&nbsp; 22252 | &nbsp;&nbsp; 452429 |
| Bank Leumi Le-Israel BM (Financials)<br> (a) | &nbsp;&nbsp; 26587 | &nbsp;&nbsp; 524271 |
| Elbit Systems Ltd. (Industrials)<br> (a) | &nbsp;&nbsp; 464 | &nbsp;&nbsp; 235097 |
| &nbsp;&nbsp;&nbsp; Israel Discount Bank Ltd. Class A <br> (Financials)<br>(a) | &nbsp;&nbsp; 21838 | &nbsp;&nbsp; 215949 |
| Mizrahi Tefahot Bank Ltd. (Financials)<br> (a) | &nbsp;&nbsp; 5323 | &nbsp;&nbsp; 350346 |
| Nice Ltd. (Information Technology)<br> (a)(c) | &nbsp;&nbsp; 3511 | &nbsp;&nbsp; 510460 |
|  |  | &nbsp;&nbsp; 2288552 |
| **Denmark–0.6%** |  |  |
| Genmab A/S (Health Care)<br> (a)(c) | &nbsp;&nbsp; 1713 | &nbsp;&nbsp; 528032 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S Class B <br> (Health Care)<br>(a) | &nbsp;&nbsp; 17150 | &nbsp;&nbsp; 946606 |
| Pandora A/S (Consumer Discretionary)<br> (a) | &nbsp;&nbsp; 522 | &nbsp;&nbsp; 68245 |
| Tryg A/S (Financials)<br> (a) | &nbsp;&nbsp; 26179 | &nbsp;&nbsp; 665265 |
|  |  | &nbsp;&nbsp; 2208148 |
| **Belgium–0.6%** |  |  |
| Ageas SA / N.V. (Financials)<br> (a) | &nbsp;&nbsp; 29088 | &nbsp;&nbsp; 2019517 |
| **Austria–0.4%** |  |  |
| BAWAG Group AG (Financials)<br> (a) | &nbsp;&nbsp; 10996 | &nbsp;&nbsp; 1453101 |
| **New Zealand–0.4%** |  |  |
| Xero Ltd. (Information Technology)<br> (a)(c) | &nbsp;&nbsp; 12941 | &nbsp;&nbsp; 1352598 |
| **Portugal–0.0%** |  |  |
| EDP SA (Utilities)<br> (a) | &nbsp;&nbsp; 28749 | &nbsp;&nbsp; 136554 |
| **Total Common Stocks** <br> **(Cost $303,568,084)**<br>|  | &nbsp;&nbsp; $348946243 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Preferred Securities–0.4%** | **Rate** | **Quantity** | **Value** |
| **Germany–0.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA <br> (Consumer Staples)<br>(a) | &nbsp;&nbsp; 2.966%<br> (d)<br>| &nbsp;&nbsp; 17313 | &nbsp;&nbsp; $1397451 |
| **Total Preferred Securities** <br> **(Cost $1,450,437)**<br>|  |  | &nbsp;&nbsp; $1397451 |
| **Total Investments – 98.1% (Cost $305,018,521)** | **Total Investments – 98.1% (Cost $305,018,521)** | (e) | &nbsp;&nbsp; $350343694 |
| **Other Assets in Excess of Liabilities – 1.9%** | **Other Assets in Excess of Liabilities – 1.9%** | (f) | &nbsp;&nbsp; 6894965 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $357238659 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> NVS: Non-Voting Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage International Equity Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Security traded on a foreign exchange has been valued at an estimate of fair value that is different than the local market close price. These fair value estimates <br> are determined by an independent fair valuation service that has been approved by the Board or its designee. These securities represent $350,104,711 or 98.0% <br> of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | As discussed in Note 2 of the Notes to Schedules of Investments, not all investments that are traded on a foreign exchange are valued at an estimate that is <br> different from the local close price. In some instances, the independent fair valuation service uses a stock's local close price because the service's measure of <br> predictability related to their valuation model of a stock is below a chosen threshold. These securities represent $238,983 or 0.1% of the Portfolio's net assets. <br>Other Portfolio securities are not subjected to fair valuation procedures because they are traded on domestic or foreign exchanges that have close times that are <br> consistent with the U.S. market close, normally 4:00 pm Eastern Time.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Represents twelve-month dividend yield. Rates are determined by actual distributions, which are impacted by factors unique to each preference share such as <br> board authorization, distributable earnings, and preferred payout features compared to other classes of equity.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (e) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (f) | Includes $212,059 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| MSCI EAFE Index - Long | 46 | December 19, 2025 | &nbsp;&nbsp; $6418433 | &nbsp;&nbsp; $6406190 | &nbsp;&nbsp; $(12243)<br>| &nbsp;&nbsp; $27813 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$6418433** | &nbsp;&nbsp; **$6406190** | &nbsp;&nbsp; **$(12243)**<br>| &nbsp;&nbsp; **$27813** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Fidelity Institutional AM**<sup>®</sup> **Equity Growth Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–99.9%** | **Shares** | **Value** |
| **Communication Services–14.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 31106 | &nbsp;&nbsp; $7561868 |
| Baidu, Inc. – ADR (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 123864 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 5910 | &nbsp;&nbsp; 965694 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 7955 | &nbsp;&nbsp; 5841993 |
| ROBLOX Corp. Class A (Entertainment)<br> (a) | &nbsp;&nbsp; 13882 | &nbsp;&nbsp; 1922935 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. (Interactive Media & <br> Svs.)<br>(b) | &nbsp;&nbsp; 23332 | &nbsp;&nbsp; 1987788 |
|  |  | &nbsp;&nbsp; 18404142 |
| **Consumer Discretionary–17.7%** |  |  |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 50912 | &nbsp;&nbsp; 11178748 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 201 | &nbsp;&nbsp; 1085253 |
| BYD Co. Ltd. (Automobiles)<br> (b) | &nbsp;&nbsp; 65361 | &nbsp;&nbsp; 926937 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | &nbsp;&nbsp; 9784 | &nbsp;&nbsp; 282855 |
| D.R. Horton, Inc. (Household Durables) | &nbsp;&nbsp; 2506 | &nbsp;&nbsp; 424692 |
| Duolingo, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 592 | &nbsp;&nbsp; 190529 |
| eBay, Inc. (Broadline Retail) | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 45475 |
| Etsy, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 1877 | &nbsp;&nbsp; 124614 |
| &nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc. Class A <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 2686 | &nbsp;&nbsp; 197958 |
| &nbsp;&nbsp;&nbsp; Games Workshop Group PLC <br> (Leisure Products)<br>(b) | &nbsp;&nbsp; 1286 | &nbsp;&nbsp; 251530 |
| Hesai Group – ADR (Automobile Components)<br> (a) | &nbsp;&nbsp; 21856 | &nbsp;&nbsp; 614154 |
| Kering SA (Textiles, Apparel & Luxury Goods)<br> (b) | &nbsp;&nbsp; 383 | &nbsp;&nbsp; 127633 |
| &nbsp;&nbsp;&nbsp; Kura Sushi U.S.A., Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 2192 | &nbsp;&nbsp; 130227 |
| Lowe's Cos., Inc. (Specialty Retail) | &nbsp;&nbsp; 9387 | &nbsp;&nbsp; 2359047 |
| MercadoLibre, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 571 | &nbsp;&nbsp; 1334393 |
| Savers Value Village, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 16820 | &nbsp;&nbsp; 222865 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 4584 | &nbsp;&nbsp; 2038596 |
| TopBuild Corp. (Household Durables)<br> (a) | &nbsp;&nbsp; 1266 | &nbsp;&nbsp; 494829 |
|  |  | &nbsp;&nbsp; 22030335 |
| **Consumer Staples–2.5%** |  |  |
| &nbsp;&nbsp;&nbsp; British American Tobacco PLC – ADR <br> (Tobacco)<br>| &nbsp;&nbsp; 11673 | &nbsp;&nbsp; 619603 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. / The Class A (Personal <br> Care Products)<br>| &nbsp;&nbsp; 14899 | &nbsp;&nbsp; 1312900 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 7508 | &nbsp;&nbsp; 1217797 |
|  |  | &nbsp;&nbsp; 3150300 |
| **Energy–0.5%** |  |  |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 16152 | &nbsp;&nbsp; 607961 |
| **Financials–7.6%** |  |  |
| Arthur J. Gallagher & Co. (Insurance) | &nbsp;&nbsp; 3334 | &nbsp;&nbsp; 1032673 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 3619 | &nbsp;&nbsp; 618306 |
| Bullish (Capital Markets)<br> (a) | &nbsp;&nbsp; 3371 | &nbsp;&nbsp; 214429 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. <br> (Consumer Finance)<br>| &nbsp;&nbsp; 5300 | &nbsp;&nbsp; 1126674 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Class A <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 617 | &nbsp;&nbsp; 208231 |
| Evercore, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 4492 | &nbsp;&nbsp; 1515242 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc. Class A <br> (Consumer Finance)<br>(a) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 7274 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The <br> (Capital Markets)<br>| &nbsp;&nbsp; 830 | &nbsp;&nbsp; 660971 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 3014 | &nbsp;&nbsp; 207393 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 2251 | &nbsp;&nbsp; 1280391 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 6357 | &nbsp;&nbsp; 1010509 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc. Class A <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 1617 | &nbsp;&nbsp; 231522 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| Rocket Cos., Inc. Class A (Financial Services) | &nbsp;&nbsp; 24800 | &nbsp;&nbsp; $480624 |
| Toast, Inc. Class A (Financial Services)<br> (a) | &nbsp;&nbsp; 23378 | &nbsp;&nbsp; 853531 |
|  |  | &nbsp;&nbsp; 9447770 |
| **Health Care–14.4%** |  |  |
| &nbsp;&nbsp;&nbsp; 10X Genomics, Inc. Class A (Life Sciences <br> Tools & Svs.)<br>(a) | &nbsp;&nbsp; 4630 | &nbsp;&nbsp; 54125 |
| Aclaris Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 2837 | &nbsp;&nbsp; 5390 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 3159 | &nbsp;&nbsp; 395570 |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4049 | &nbsp;&nbsp; 1846344 |
| Arcellx, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 627 | &nbsp;&nbsp; 51477 |
| Beam Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 8641 | &nbsp;&nbsp; 209717 |
| Biogen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6230 | &nbsp;&nbsp; 872698 |
| BioNTech SE – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 4554 | &nbsp;&nbsp; 449116 |
| Bio-Techne Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 805 | &nbsp;&nbsp; 44782 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 19622 | &nbsp;&nbsp; 1915696 |
| Ceribell, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 13788 |
| Chemometec A/S (Life Sciences Tools & Svs.)<br> (b) | &nbsp;&nbsp; 1663 | &nbsp;&nbsp; 164622 |
| Codexis, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 19371 | &nbsp;&nbsp; 47265 |
| Corcept Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 4227 | &nbsp;&nbsp; 351306 |
| Cytokinetics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4438 | &nbsp;&nbsp; 243913 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 4149 | &nbsp;&nbsp; 3165687 |
| Galapagos N.V. – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 4172 | &nbsp;&nbsp; 144518 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 10269 | &nbsp;&nbsp; 1139859 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 8647 | &nbsp;&nbsp; 819476 |
| Hookipa Pharma, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 679 | &nbsp;&nbsp; 628 |
| Immuneering Corp. Class A (Biotechnology)<br> (a) | &nbsp;&nbsp; 6769 | &nbsp;&nbsp; 47383 |
| &nbsp;&nbsp;&nbsp; Immunocore Holdings PLC – ADR <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 2525 | &nbsp;&nbsp; 91733 |
| Janux Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1392 | &nbsp;&nbsp; 34020 |
| Krystal Biotech, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 476 | &nbsp;&nbsp; 84028 |
| Legend Biotech Corp. – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 3454 | &nbsp;&nbsp; 112635 |
| MaxCyte, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 6466 | &nbsp;&nbsp; 10216 |
| &nbsp;&nbsp;&nbsp; Newamsterdam Pharma Co. N.V. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4690 | &nbsp;&nbsp; 133384 |
| &nbsp;&nbsp;&nbsp; Penumbra, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1343 | &nbsp;&nbsp; 340209 |
| &nbsp;&nbsp;&nbsp; Pulmonx Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1299 | &nbsp;&nbsp; 2104 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC Class A <br> (Pharmaceuticals)<br>| &nbsp;&nbsp; 67539 | &nbsp;&nbsp; 2382776 |
| RxSight, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 418 | &nbsp;&nbsp; 3758 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd. – ADR <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 38693 | &nbsp;&nbsp; 781599 |
| UCB SA (Pharmaceuticals)<br> (b) | &nbsp;&nbsp; 5052 | &nbsp;&nbsp; 1397733 |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc. Class A (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 1403 | &nbsp;&nbsp; 417968 |
| Vor BioPharma, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 324 | &nbsp;&nbsp; 15785 |
| XOMA Royalty Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2769 | &nbsp;&nbsp; 106717 |
| Zevra Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 7421 | &nbsp;&nbsp; 70574 |
|  |  | &nbsp;&nbsp; 17968599 |
| **Industrials–8.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 2918 | &nbsp;&nbsp; 716486 |
| Deere & Co. (Machinery) | &nbsp;&nbsp; 2934 | &nbsp;&nbsp; 1341601 |
| Equifax, Inc. (Professional Svs.) | &nbsp;&nbsp; 4009 | &nbsp;&nbsp; 1028429 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. (Trading Companies <br> & Distributors)<br>(b) | &nbsp;&nbsp; 3290 | &nbsp;&nbsp; 741293 |
| &nbsp;&nbsp;&nbsp; Firefly Aerospace, Inc. (Aerospace & <br> Defense)<br>(a) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 11728 |
| GE Vernova, Inc. (Electrical Equip.) | &nbsp;&nbsp; 2329 | &nbsp;&nbsp; 1432102 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 6462 | &nbsp;&nbsp; 1943899 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Fidelity Institutional AM**<sup>®</sup> **Equity Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| Ingersoll Rand, Inc. (Machinery) | &nbsp;&nbsp; 6760 | &nbsp;&nbsp; $558511 |
| Loar Holdings, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 4560 |
| RELX PLC – ADR (Professional Svs.) | &nbsp;&nbsp; 6767 | &nbsp;&nbsp; 323192 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 278 | &nbsp;&nbsp; 46554 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 8133 | &nbsp;&nbsp; 796790 |
| UL Solutions, Inc. Class A (Professional Svs.) | &nbsp;&nbsp; 7209 | &nbsp;&nbsp; 510830 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 3186 | &nbsp;&nbsp; 638697 |
|  |  | &nbsp;&nbsp; 10094672 |
| **Information Technology–32.6%** |  |  |
| Appfolio, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 211 | &nbsp;&nbsp; 58164 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 23876 | &nbsp;&nbsp; 6079546 |
| Astera Labs, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 39160 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries N.V. <br> (Semiconductors & Equip.)<br>(b) | &nbsp;&nbsp; 5278 | &nbsp;&nbsp; 791594 |
| &nbsp;&nbsp;&nbsp; BitMine Immersion Technologies, Inc. <br> (Software)<br>(a) | &nbsp;&nbsp; 2462 | &nbsp;&nbsp; 127852 |
| CyberArk Software Ltd. (Software)<br> (a) | &nbsp;&nbsp; 588 | &nbsp;&nbsp; 284092 |
| Figma, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 15561 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 1525 | &nbsp;&nbsp; 713395 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 13860 | &nbsp;&nbsp; 7178787 |
| Monday.com Ltd. (Software)<br> (a) | &nbsp;&nbsp; 1488 | &nbsp;&nbsp; 288211 |
| Nutanix, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 12974 | &nbsp;&nbsp; 965136 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 85371 | &nbsp;&nbsp; 15928522 |
| Palo Alto Networks, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3027 | &nbsp;&nbsp; 616358 |
| SailPoint, Inc. (Software)<br> (a) | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 15456 |
| Samsara, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 96850 |
| ServiceTitan, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 6330 | &nbsp;&nbsp; 638254 |
| Shopify, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 13410 | &nbsp;&nbsp; 1992860 |
| SiTime Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 1862 | &nbsp;&nbsp; 561039 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. <br> – ADR (Semiconductors & Equip.)<br>| &nbsp;&nbsp; 13277 | &nbsp;&nbsp; 3708133 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Unity Software, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3747 | &nbsp;&nbsp; $150030 |
| Zeta Global Holdings Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 11089 | &nbsp;&nbsp; 220338 |
| Zscaler, Inc. (Software)<br> (a) | &nbsp;&nbsp; 545 | &nbsp;&nbsp; 163315 |
|  |  | &nbsp;&nbsp; 40632653 |
| **Materials–0.8%** |  |  |
| Eagle Materials, Inc. (Construction Materials) | &nbsp;&nbsp; 196 | &nbsp;&nbsp; 45676 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. <br> (Construction Materials)<br>| &nbsp;&nbsp; 933 | &nbsp;&nbsp; 588051 |
| Vale SA – ADR (Metals & Mining) | &nbsp;&nbsp; 36491 | &nbsp;&nbsp; 396293 |
|  |  | &nbsp;&nbsp; 1030020 |
| **Real Estate–0.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Zillow Group, Inc. Class A (Real Estate Mgmt. <br> & Development)<br>(a) | &nbsp;&nbsp; 2577 | &nbsp;&nbsp; 191832 |
| &nbsp;&nbsp;&nbsp; Zillow Group, Inc. Class C (Real Estate Mgmt. <br> & Development)<br>(a) | &nbsp;&nbsp; 11328 | &nbsp;&nbsp; 872822 |
|  |  | &nbsp;&nbsp; 1064654 |
| **Total Common Stocks (Cost $95,545,521)** |  | &nbsp;&nbsp; $124431106 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Rights–0.0%** | **Quantity** | **Value** |
| **Health Care–0.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Blueprint Medicines Corporation CVR (Acquired <br> July 21, 2025, Cost $184) (Biotechnology)<br>(a)(c) | 399 | &nbsp;&nbsp; $183 |
| &nbsp;&nbsp;&nbsp; Gamida Cell Ltd. CVR (Acquired July 31, 2023 <br> through August 28, 2023, Cost $44,288) <br> (Biotechnology)<br>(a)(c) | 33274 | &nbsp;&nbsp; — |
| **Total Rights (Cost $44,472)** |  | &nbsp;&nbsp; $183 |
| **Total Investments – 99.9% (Cost $95,589,993)**<br> (d) |  | &nbsp;&nbsp; $124431289 |
| **Other Assets in Excess of Liabilities – 0.1%** |  | &nbsp;&nbsp; 129063 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $124560352 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR: American Depositary Receipts <br> CVR: Contingent Value Right

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security traded on a foreign exchange has been valued at an estimate of fair value that is different than the local market close price. These fair value estimates <br> are determined by an independent fair valuation service that has been approved by the Board or its designee. These securities represent $6,389,130 or 5.1% of the <br> Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Represents a security deemed to be restricted. At September 30, 2025, the value of restricted securities in the Portfolio totaled $183, or 0.0% of the Portfolio's net <br> assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Small Cap Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–99.2%** | **Shares** | **Value** |
| **Communication Services–1.9%** |  |  |
| Cargurus, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 4230 | &nbsp;&nbsp; $157483 |
| Cars.com, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 5115 | &nbsp;&nbsp; 62505 |
| Cinemark Holdings, Inc. (Entertainment) | &nbsp;&nbsp; 6250 | &nbsp;&nbsp; 175125 |
| DoubleVerify Holdings, Inc. (Media)<br> (a) | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 71880 |
| IAC, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 2903 | &nbsp;&nbsp; 98905 |
| John Wiley & Sons, Inc. Class A (Media) | &nbsp;&nbsp; 2150 | &nbsp;&nbsp; 87011 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (Diversified Telecom. <br> Svs.)<br>(a) | &nbsp;&nbsp; 42020 | &nbsp;&nbsp; 257163 |
| &nbsp;&nbsp;&nbsp; Madison Square Garden Sports Corp. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 540 | &nbsp;&nbsp; 122580 |
| NIQ Global Intelligence PLC (Media)<br> (a) | &nbsp;&nbsp; 28969 | &nbsp;&nbsp; 454813 |
| QuinStreet, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 4900 | &nbsp;&nbsp; 75803 |
| Shutterstock, Inc. (Interactive Media & Svs.) | &nbsp;&nbsp; 2280 | &nbsp;&nbsp; 47538 |
| TEGNA, Inc. (Media) | &nbsp;&nbsp; 7090 | &nbsp;&nbsp; 144140 |
| &nbsp;&nbsp;&nbsp; Telephone & Data Systems, Inc. (Wireless <br> Telecom. Svs.)<br>| &nbsp;&nbsp; 4780 | &nbsp;&nbsp; 187567 |
| Uniti Group, Inc. (Diversified Telecom. Svs.)<br> (a) | &nbsp;&nbsp; 12220 | &nbsp;&nbsp; 74786 |
| Yelp, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 2696 | &nbsp;&nbsp; 84115 |
|  |  | &nbsp;&nbsp; 2101414 |
| **Consumer Discretionary–13.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. <br> (Specialty Retail)<br>| &nbsp;&nbsp; 2109 | &nbsp;&nbsp; 105492 |
| Acushnet Holdings Corp. (Leisure Products) | &nbsp;&nbsp; 1056 | &nbsp;&nbsp; 82885 |
| Adient PLC (Automobile Components)<br> (a) | &nbsp;&nbsp; 4113 | &nbsp;&nbsp; 99041 |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 169895 |
| Advance Auto Parts, Inc. (Specialty Retail) | &nbsp;&nbsp; 2303 | &nbsp;&nbsp; 141404 |
| &nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. <br> (Specialty Retail)<br>| &nbsp;&nbsp; 9400 | &nbsp;&nbsp; 160834 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 836 | &nbsp;&nbsp; 204360 |
| &nbsp;&nbsp;&nbsp; BJ's Restaurants, Inc. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 3030 | &nbsp;&nbsp; 92506 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 5730 | &nbsp;&nbsp; 41084 |
| Boot Barn Holdings, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 6183 | &nbsp;&nbsp; 1024647 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 8670 | &nbsp;&nbsp; 381133 |
| &nbsp;&nbsp;&nbsp; Brinker International, Inc. (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 1739 | &nbsp;&nbsp; 220297 |
| Buckle, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 152516 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 7650 | &nbsp;&nbsp; 206741 |
| Cavco Industries, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 156797 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 1830 | &nbsp;&nbsp; 115967 |
| Champion Homes, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 9964 | &nbsp;&nbsp; 760951 |
| &nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. / The (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 1890 | &nbsp;&nbsp; 103270 |
| &nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 1380 | &nbsp;&nbsp; 60803 |
| &nbsp;&nbsp;&nbsp; Dorman Products, Inc. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 850 | &nbsp;&nbsp; 132498 |
| &nbsp;&nbsp;&nbsp; Dutch Bros, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 10081 | &nbsp;&nbsp; 527640 |
| Etsy, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 2540 | &nbsp;&nbsp; 168631 |
| Frontdoor, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 3161 | &nbsp;&nbsp; 212704 |
| Gentherm, Inc. (Automobile Components)<br> (a) | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 122616 |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 3240 | &nbsp;&nbsp; 86216 |
| &nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 2690 | &nbsp;&nbsp; 63430 |
| &nbsp;&nbsp;&nbsp; Green Brick Partners, Inc. <br> (Household Durables)<br>(a) | &nbsp;&nbsp; 1770 | &nbsp;&nbsp; 130732 |
| Group 1 Automotive, Inc. (Specialty Retail) | &nbsp;&nbsp; 402 | &nbsp;&nbsp; 175879 |
| Guess?, Inc. (Specialty Retail) | &nbsp;&nbsp; 1070 | &nbsp;&nbsp; 17880 |
| &nbsp;&nbsp;&nbsp; Hanesbrands, Inc. (Textiles, Apparel & Luxury <br> Goods)<br>(a) | &nbsp;&nbsp; 14600 | &nbsp;&nbsp; 96214 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 568 | &nbsp;&nbsp; 140103 |
| Kohl's Corp. (Broadline Retail) | &nbsp;&nbsp; 5490 | &nbsp;&nbsp; 84381 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 2300 | &nbsp;&nbsp; 183471 |
| La-Z-Boy, Inc. (Household Durables) | &nbsp;&nbsp; 2300 | &nbsp;&nbsp; 78936 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Discretionary (continued)** |  |  |
| LCI Industries (Automobile Components) | &nbsp;&nbsp; 970 | &nbsp;&nbsp; $90355 |
| LGI Homes, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 1070 | &nbsp;&nbsp; 55330 |
| M/I (Household Durables)<br> (a) | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 161773 |
| &nbsp;&nbsp;&nbsp; Matthews International Corp. Class A <br> (Diversified Consumer Svs.)<br>| &nbsp;&nbsp; 3870 | &nbsp;&nbsp; 93964 |
| Meritage Homes Corp. (Household Durables) | &nbsp;&nbsp; 2520 | &nbsp;&nbsp; 182524 |
| &nbsp;&nbsp;&nbsp; Mister Car Wash, Inc. (Diversified Consumer <br> Svs.)<br>(a) | &nbsp;&nbsp; 18480 | &nbsp;&nbsp; 98498 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 6669 | &nbsp;&nbsp; 948065 |
| &nbsp;&nbsp;&nbsp; National Vision Holdings, Inc. <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 15385 | &nbsp;&nbsp; 449088 |
| &nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc. <br> (Broadline Retail)<br>(a) | &nbsp;&nbsp; 5121 | &nbsp;&nbsp; 657536 |
| &nbsp;&nbsp;&nbsp; Oxford Industries, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 950 | &nbsp;&nbsp; 38513 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc. <br> (Automobile Components)<br>| &nbsp;&nbsp; 1380 | &nbsp;&nbsp; 142733 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc. (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 5930 | &nbsp;&nbsp; 114212 |
| &nbsp;&nbsp;&nbsp; Portillo's, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 48917 | &nbsp;&nbsp; 315515 |
| RH (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2747 | &nbsp;&nbsp; 558081 |
| &nbsp;&nbsp;&nbsp; Rush Street Interactive, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 35243 | &nbsp;&nbsp; 721777 |
| &nbsp;&nbsp;&nbsp; Shake Shack, Inc. Class A (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 1640 | &nbsp;&nbsp; 153520 |
| SharkNinja, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 6845 | &nbsp;&nbsp; 706062 |
| Signet Jewelers Ltd. (Specialty Retail) | &nbsp;&nbsp; 994 | &nbsp;&nbsp; 95344 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 3864 | &nbsp;&nbsp; 87790 |
| Sonos, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 9149 | &nbsp;&nbsp; 144554 |
| &nbsp;&nbsp;&nbsp; Standard Motor Products, Inc. <br> (Automobile Components)<br>| &nbsp;&nbsp; 2630 | &nbsp;&nbsp; 107357 |
| &nbsp;&nbsp;&nbsp; Steven Madden Ltd. (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 3220 | &nbsp;&nbsp; 107806 |
| Stride, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 4378 | &nbsp;&nbsp; 652059 |
| &nbsp;&nbsp;&nbsp; Stubhub Holdings, Inc. Class A (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 20834 | &nbsp;&nbsp; 350845 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 2632 | &nbsp;&nbsp; 437307 |
| &nbsp;&nbsp;&nbsp; Topgolf Callaway Brands Corp. <br> (Leisure Products)<br>(a) | &nbsp;&nbsp; 11210 | &nbsp;&nbsp; 106495 |
| Tri Pointe Homes, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 3853 | &nbsp;&nbsp; 130886 |
| &nbsp;&nbsp;&nbsp; United Parks & Resorts, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 1072 | &nbsp;&nbsp; 55422 |
| Urban Outfitters, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2230 | &nbsp;&nbsp; 159289 |
| Victoria's Secret & Co. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 3273 | &nbsp;&nbsp; 88829 |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 459064 |
| Winnebago Industries, Inc. (Automobiles) | &nbsp;&nbsp; 1670 | &nbsp;&nbsp; 55845 |
| XPEL, Inc. (Automobile Components)<br> (a) | &nbsp;&nbsp; 3090 | &nbsp;&nbsp; 102186 |
|  |  | &nbsp;&nbsp; 15130578 |
| **Consumer Staples–2.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. / The (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 1920 | &nbsp;&nbsp; 76435 |
| Cal-Maine Foods, Inc. (Food Products) | &nbsp;&nbsp; 1600 | &nbsp;&nbsp; 150560 |
| Celsius Holdings, Inc. (Beverages)<br> (a) | &nbsp;&nbsp; 13628 | &nbsp;&nbsp; 783474 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc. / The (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 12550 | &nbsp;&nbsp; 732041 |
| Energizer Holdings, Inc. (Household Products) | &nbsp;&nbsp; 3360 | &nbsp;&nbsp; 83630 |
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. <br> (Food Products)<br>| &nbsp;&nbsp; 60 | &nbsp;&nbsp; 2083 |
| Freshpet, Inc. (Food Products)<br> (a) | &nbsp;&nbsp; 1851 | &nbsp;&nbsp; 102009 |
| &nbsp;&nbsp;&nbsp; Grocery Outlet Holding Corp. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 4660 | &nbsp;&nbsp; 74793 |
| Interparfums, Inc. (Personal Care Products) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 88542 |
| J & J Snack Foods Corp. (Food Products) | &nbsp;&nbsp; 540 | &nbsp;&nbsp; 51889 |
| John B. Sanfilippo & Son, Inc. (Food Products) | &nbsp;&nbsp; 990 | &nbsp;&nbsp; 63637 |
| MGP Ingredients, Inc. (Beverages) | &nbsp;&nbsp; 1020 | &nbsp;&nbsp; 24674 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 121190 |
| Simply Good Foods Co. / The (Food Products)<br> (a) | &nbsp;&nbsp; 3780 | &nbsp;&nbsp; 93820 |
| Tootsie Roll Industries, Inc. (Food Products) | &nbsp;&nbsp; 3469 | &nbsp;&nbsp; 145420 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Small Cap Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Staples (continued)** |  |  |
| Universal Corp. (Tobacco) | &nbsp;&nbsp; 1179 | &nbsp;&nbsp; $65871 |
| WD-40 Co. (Household Products) | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 124488 |
|  |  | &nbsp;&nbsp; 2784556 |
| **Energy–2.5%** |  |  |
| Archrock, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 6340 | &nbsp;&nbsp; 166805 |
| Bristow Group, Inc. (Energy Equip. & Svs.)<br> (a) | &nbsp;&nbsp; 70 | &nbsp;&nbsp; 2526 |
| Cactus, Inc. Class A (Energy Equip. & Svs.) | &nbsp;&nbsp; 2850 | &nbsp;&nbsp; 112489 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 2930 | &nbsp;&nbsp; 155817 |
| Core Laboratories, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 1230 | &nbsp;&nbsp; 15203 |
| &nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 1943 | &nbsp;&nbsp; 162202 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Co. Class A (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 64224 |
| &nbsp;&nbsp;&nbsp; CVR Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>(a) | &nbsp;&nbsp; 3470 | &nbsp;&nbsp; 126586 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | &nbsp;&nbsp; 1479 | &nbsp;&nbsp; 267669 |
| Helmerich & Payne, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 4890 | &nbsp;&nbsp; 108020 |
| &nbsp;&nbsp;&nbsp; Innovex International, Inc. (Energy Equip. & <br> Svs.)<br>(a) | &nbsp;&nbsp; 6490 | &nbsp;&nbsp; 120325 |
| &nbsp;&nbsp;&nbsp; International Seaways, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 119808 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 1459 | &nbsp;&nbsp; 62358 |
| Liberty Energy, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 8530 | &nbsp;&nbsp; 105260 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp. Class A (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 7280 | &nbsp;&nbsp; 173774 |
| Noble Corp. PLC (Energy Equip. & Svs.) | &nbsp;&nbsp; 4610 | &nbsp;&nbsp; 130371 |
| &nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 2840 | &nbsp;&nbsp; 100593 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. (Energy Equip. & <br> Svs.)<br>| &nbsp;&nbsp; 31834 | &nbsp;&nbsp; 164900 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 2193 | &nbsp;&nbsp; 28070 |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 5130 | &nbsp;&nbsp; 128096 |
| &nbsp;&nbsp;&nbsp; Talos Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>(a) | &nbsp;&nbsp; 7240 | &nbsp;&nbsp; 69432 |
| TechnipFMC PLC (Energy Equip. & Svs.) | &nbsp;&nbsp; 3574 | &nbsp;&nbsp; 140994 |
| Tidewater, Inc. (Energy Equip. & Svs.)<br> (a) | &nbsp;&nbsp; 2270 | &nbsp;&nbsp; 121059 |
| &nbsp;&nbsp;&nbsp; World Kinect Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 3640 | &nbsp;&nbsp; 94458 |
|  |  | &nbsp;&nbsp; 2741039 |
| **Financials–13.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 2827 | &nbsp;&nbsp; 136148 |
| Accelerant Holdings Class A (Insurance)<br> (a) | &nbsp;&nbsp; 13079 | &nbsp;&nbsp; 194746 |
| Ameris Bancorp (Banks) | &nbsp;&nbsp; 2890 | &nbsp;&nbsp; 211866 |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. <br> (Mortgage REIT)<br>| &nbsp;&nbsp; 12700 | &nbsp;&nbsp; 128651 |
| Arbor Realty Trust, Inc. (Mortgage REIT) | &nbsp;&nbsp; 10954 | &nbsp;&nbsp; 133748 |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc. <br> Class A (Capital Markets)<br>| &nbsp;&nbsp; 4150 | &nbsp;&nbsp; 180110 |
| Assured Guaranty Ltd. (Insurance) | &nbsp;&nbsp; 1970 | &nbsp;&nbsp; 166760 |
| Atlantic Union Bankshares Corp. (Banks) | &nbsp;&nbsp; 5655 | &nbsp;&nbsp; 199565 |
| Axos Financial, Inc. (Banks)<br> (a) | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 175225 |
| Banc of California, Inc. (Banks) | &nbsp;&nbsp; 6950 | &nbsp;&nbsp; 115022 |
| Bancorp, Inc. / The (Banks)<br> (a) | &nbsp;&nbsp; 2390 | &nbsp;&nbsp; 178987 |
| Bank of Hawaii Corp. (Banks) | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 157536 |
| BankUnited, Inc. (Banks) | &nbsp;&nbsp; 3490 | &nbsp;&nbsp; 133178 |
| Banner Corp. (Banks) | &nbsp;&nbsp; 2240 | &nbsp;&nbsp; 146720 |
| Beacon Financial Corp. (Banks) | &nbsp;&nbsp; 4636 | &nbsp;&nbsp; 109920 |
| BGC Group, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 13380 | &nbsp;&nbsp; 126575 |
| &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc. Class A <br> (Mortgage REIT)<br>| &nbsp;&nbsp; 9480 | &nbsp;&nbsp; 174527 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. <br> (Consumer Finance)<br>| &nbsp;&nbsp; 1542 | &nbsp;&nbsp; 85997 |
| Bullish (Capital Markets)<br> (a) | &nbsp;&nbsp; 7291 | &nbsp;&nbsp; 463781 |
| Cathay General Bancorp (Banks) | &nbsp;&nbsp; 3990 | &nbsp;&nbsp; 191560 |
| Community Financial System, Inc. (Banks) | &nbsp;&nbsp; 2450 | &nbsp;&nbsp; 143668 |
| Customers Bancorp, Inc. (Banks)<br> (a) | &nbsp;&nbsp; 2500 | &nbsp;&nbsp; 163425 |
| Enact Holdings, Inc. (Financial Services) | &nbsp;&nbsp; 2630 | &nbsp;&nbsp; 100834 |
| Enova International, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 126599 |
| FB Financial Corp. (Banks) | &nbsp;&nbsp; 3190 | &nbsp;&nbsp; 177811 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| First BanCorp (Banks) | &nbsp;&nbsp; 8240 | &nbsp;&nbsp; $181692 |
| First Hawaiian, Inc. (Banks) | &nbsp;&nbsp; 5920 | &nbsp;&nbsp; 146994 |
| Fulton Financial Corp. (Banks) | &nbsp;&nbsp; 8210 | &nbsp;&nbsp; 152952 |
| Genworth Financial, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 23130 | &nbsp;&nbsp; 205857 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 4910 | &nbsp;&nbsp; 150737 |
| Hope Bancorp, Inc. (Banks) | &nbsp;&nbsp; 9440 | &nbsp;&nbsp; 101669 |
| Horace Mann Educators Corp. (Insurance) | &nbsp;&nbsp; 3140 | &nbsp;&nbsp; 141834 |
| Houlihan Lokey, Inc. (Capital Markets) | &nbsp;&nbsp; 3231 | &nbsp;&nbsp; 663389 |
| Independent Bank Corp. (Banks) | &nbsp;&nbsp; 1963 | &nbsp;&nbsp; 135781 |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc. Class A <br> (Financial Services)<br>| &nbsp;&nbsp; 3067 | &nbsp;&nbsp; 310472 |
| Lincoln National Corp. (Insurance) | &nbsp;&nbsp; 7010 | &nbsp;&nbsp; 282713 |
| Marex Group PLC (Capital Markets) | &nbsp;&nbsp; 13726 | &nbsp;&nbsp; 461468 |
| MarketAxess Holdings, Inc. (Capital Markets) | &nbsp;&nbsp; 1400 | &nbsp;&nbsp; 243950 |
| Moelis & Co. Class A (Capital Markets) | &nbsp;&nbsp; 2430 | &nbsp;&nbsp; 173308 |
| Mr. Cooper Group, Inc. (Financial Services) | &nbsp;&nbsp; 2121 | &nbsp;&nbsp; 447086 |
| Navient Corp. (Consumer Finance) | &nbsp;&nbsp; 6040 | &nbsp;&nbsp; 79426 |
| NCR Atleos Corp. (Financial Services)<br> (a) | &nbsp;&nbsp; 2850 | &nbsp;&nbsp; 112034 |
| NMI Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 3464 | &nbsp;&nbsp; 132810 |
| Palomar Holdings, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 1080 | &nbsp;&nbsp; 126090 |
| Park National Corp. (Banks) | &nbsp;&nbsp; 660 | &nbsp;&nbsp; 107270 |
| Pathward Financial, Inc. (Banks) | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 153201 |
| Piper Sandler Cos. (Capital Markets) | &nbsp;&nbsp; 3169 | &nbsp;&nbsp; 1099611 |
| PJT Partners, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 960 | &nbsp;&nbsp; 170621 |
| ProAssurance Corp. (Insurance)<br> (a) | &nbsp;&nbsp; 7110 | &nbsp;&nbsp; 170569 |
| PROG Holdings, Inc. (Consumer Finance) | &nbsp;&nbsp; 2390 | &nbsp;&nbsp; 77340 |
| Provident Financial Services, Inc. (Banks) | &nbsp;&nbsp; 5900 | &nbsp;&nbsp; 113752 |
| Radian Group, Inc. (Financial Services) | &nbsp;&nbsp; 5720 | &nbsp;&nbsp; 207178 |
| Renasant Corp. (Banks) | &nbsp;&nbsp; 3679 | &nbsp;&nbsp; 135718 |
| S&T Bancorp, Inc. (Banks) | &nbsp;&nbsp; 3030 | &nbsp;&nbsp; 113898 |
| ServisFirst Bancshares, Inc. (Banks) | &nbsp;&nbsp; 2190 | &nbsp;&nbsp; 176361 |
| Simmons First National Corp. Class A (Banks) | &nbsp;&nbsp; 9350 | &nbsp;&nbsp; 179239 |
| SiriusPoint Ltd. (Insurance)<br> (a) | &nbsp;&nbsp; 7640 | &nbsp;&nbsp; 138208 |
| Southside Bancshares, Inc. (Banks) | &nbsp;&nbsp; 4430 | &nbsp;&nbsp; 125147 |
| &nbsp;&nbsp;&nbsp; StepStone Group, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 12827 | &nbsp;&nbsp; 837731 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. <br> (Insurance)<br>| &nbsp;&nbsp; 90 | &nbsp;&nbsp; 6599 |
| Stifel Financial Corp. (Capital Markets) | &nbsp;&nbsp; 5818 | &nbsp;&nbsp; 660168 |
| StoneX Group, Inc. (Capital Markets)<br> (a) | &nbsp;&nbsp; 1677 | &nbsp;&nbsp; 169243 |
| Trupanion, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 2310 | &nbsp;&nbsp; 99977 |
| Trustmark Corp. (Banks) | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 166320 |
| TWFG, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 10356 | &nbsp;&nbsp; 284169 |
| &nbsp;&nbsp;&nbsp; Two Harbors Investment Corp. <br> (Mortgage REIT)<br>| &nbsp;&nbsp; 9510 | &nbsp;&nbsp; 93864 |
| United Community Banks, Inc. (Banks) | &nbsp;&nbsp; 4336 | &nbsp;&nbsp; 135934 |
| &nbsp;&nbsp;&nbsp; Victory Capital Holdings, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 1835 | &nbsp;&nbsp; 118835 |
| WaFd, Inc. (Banks) | &nbsp;&nbsp; 3860 | &nbsp;&nbsp; 116919 |
| Walker & Dunlop, Inc. (Financial Services) | &nbsp;&nbsp; 1250 | &nbsp;&nbsp; 104525 |
| Westamerica BanCorp (Banks) | &nbsp;&nbsp; 2230 | &nbsp;&nbsp; 111478 |
| WisdomTree, Inc. (Capital Markets) | &nbsp;&nbsp; 10600 | &nbsp;&nbsp; 147340 |
| WSFS Financial Corp. (Banks) | &nbsp;&nbsp; 2801 | &nbsp;&nbsp; 151058 |
|  |  | &nbsp;&nbsp; 14545494 |
| **Health Care–16.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 3150 | &nbsp;&nbsp; 77994 |
| &nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4880 | &nbsp;&nbsp; 104139 |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 1090 | &nbsp;&nbsp; 128609 |
| ADMA Biologics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 10130 | &nbsp;&nbsp; 148506 |
| Akero Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 8270 | &nbsp;&nbsp; 392660 |
| Alkermes PLC (Biotechnology)<br> (a) | &nbsp;&nbsp; 6820 | &nbsp;&nbsp; 204600 |
| &nbsp;&nbsp;&nbsp; AMN Healthcare Services, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 2150 | &nbsp;&nbsp; 41624 |
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 2530 | &nbsp;&nbsp; 67425 |
| ANI Pharmaceuticals, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 1630 | &nbsp;&nbsp; 149308 |
| Apogee Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7058 | &nbsp;&nbsp; 280414 |
| Arcus Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5810 | &nbsp;&nbsp; 79016 |
| &nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 2730 | &nbsp;&nbsp; 94158 |
| ARS Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 12596 | &nbsp;&nbsp; 126590 |
| Ascendis Pharma A/S – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 1689 | &nbsp;&nbsp; 335790 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Small Cap Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| AtriCure, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 17862 | &nbsp;&nbsp; $629635 |
| Azenta, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 4857 | &nbsp;&nbsp; 139493 |
| Bridgebio Pharma, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 11412 | &nbsp;&nbsp; 592739 |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 25766 | &nbsp;&nbsp; 761643 |
| Caris Life Sciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 10095 | &nbsp;&nbsp; 305374 |
| &nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4610 | &nbsp;&nbsp; 90817 |
| Celcuity, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5231 | &nbsp;&nbsp; 258411 |
| Certara, Inc. (Health Care Technology)<br> (a) | &nbsp;&nbsp; 6570 | &nbsp;&nbsp; 80285 |
| CG oncology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 10071 | &nbsp;&nbsp; 405660 |
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. (Health <br> Care Providers & Svs.)<br>| &nbsp;&nbsp; 4360 | &nbsp;&nbsp; 91255 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 1540 | &nbsp;&nbsp; 72426 |
| Corcept Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 3590 | &nbsp;&nbsp; 298365 |
| CorVel Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 1320 | &nbsp;&nbsp; 102194 |
| Denali Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 16765 | &nbsp;&nbsp; 243428 |
| Dianthus Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6888 | &nbsp;&nbsp; 271043 |
| Dynavax Technologies Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7903 | &nbsp;&nbsp; 78477 |
| Embecta Corp. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 4021 | &nbsp;&nbsp; 56736 |
| &nbsp;&nbsp;&nbsp; GeneDx Holdings Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 2992 | &nbsp;&nbsp; 322358 |
| Glaukos Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 11334 | &nbsp;&nbsp; 924288 |
| Halozyme Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3883 | &nbsp;&nbsp; 284779 |
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 3100 | &nbsp;&nbsp; 85436 |
| HeartFlow, Inc. (Health Care Technology)<br> (a) | &nbsp;&nbsp; 10229 | &nbsp;&nbsp; 344308 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 960 | &nbsp;&nbsp; 115162 |
| Insmed, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1499 | &nbsp;&nbsp; 215871 |
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 1300 | &nbsp;&nbsp; 96460 |
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1710 | &nbsp;&nbsp; 176694 |
| &nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp. (Health <br> Care Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 287 |
| &nbsp;&nbsp;&nbsp; Kestra Medical Technologies Ltd. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 12518 | &nbsp;&nbsp; 297428 |
| Krystal Biotech, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 950 | &nbsp;&nbsp; 167703 |
| Legend Biotech Corp. – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 7957 | &nbsp;&nbsp; 259478 |
| &nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 1230 | &nbsp;&nbsp; 107637 |
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 800 | &nbsp;&nbsp; 141712 |
| &nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 1670 | &nbsp;&nbsp; 138994 |
| Merus N.V. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4080 | &nbsp;&nbsp; 384132 |
| Mineralys Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7157 | &nbsp;&nbsp; 271393 |
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 1130 | &nbsp;&nbsp; 137306 |
| Neogen Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 10840 | &nbsp;&nbsp; 61896 |
| &nbsp;&nbsp;&nbsp; Newamsterdam Pharma Co. N.V. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 10543 | &nbsp;&nbsp; 299843 |
| Ocular Therapeutix, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 17717 | &nbsp;&nbsp; 207112 |
| Omnicell, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 2210 | &nbsp;&nbsp; 67295 |
| &nbsp;&nbsp;&nbsp; Premier, Inc. Class A (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 6550 | &nbsp;&nbsp; 182090 |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 1980 | &nbsp;&nbsp; 123552 |
| &nbsp;&nbsp;&nbsp; Privia Health Group, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 5845 | &nbsp;&nbsp; 145540 |
| &nbsp;&nbsp;&nbsp; PROCEPT BioRobotics Corp. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 17328 | &nbsp;&nbsp; 618436 |
| Protagonist Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2650 | &nbsp;&nbsp; 176039 |
| RadNet, Inc. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 198146 |
| Rapport Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 7151 | &nbsp;&nbsp; 212385 |
| Repligen Corp. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 5287 | &nbsp;&nbsp; 706713 |
| Rhythm Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4847 | &nbsp;&nbsp; 489499 |
| Sarepta Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3736 | &nbsp;&nbsp; 71993 |
| Schrodinger, Inc. (Health Care Technology)<br> (a) | &nbsp;&nbsp; 3290 | &nbsp;&nbsp; 65997 |
| &nbsp;&nbsp;&nbsp; Select Medical Holdings Corp. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 5070 | &nbsp;&nbsp; 65099 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 3810 | &nbsp;&nbsp; 182080 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc. (Health Care Equip. <br> & Supplies)<br>(a) | &nbsp;&nbsp; 3020 | &nbsp;&nbsp; $36663 |
| Teleflex, Inc. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 227590 |
| TG Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5800 | &nbsp;&nbsp; 209525 |
| &nbsp;&nbsp;&nbsp; TransMedics Group, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1650 | &nbsp;&nbsp; 185130 |
| Trevi Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 35920 | &nbsp;&nbsp; 328668 |
| &nbsp;&nbsp;&nbsp; UFP Technologies, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 67864 |
| Vir Biotechnology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 9590 | &nbsp;&nbsp; 54759 |
| Viridian Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 15003 | &nbsp;&nbsp; 323765 |
| &nbsp;&nbsp;&nbsp; Waystar Holding Corp. (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 21382 | &nbsp;&nbsp; 810805 |
| Xenon Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 8057 | &nbsp;&nbsp; 323489 |
|  |  | &nbsp;&nbsp; 17622213 |
| **Industrials–21.4%** |  |  |
| AAR Corp. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1383 | &nbsp;&nbsp; 124014 |
| &nbsp;&nbsp;&nbsp; ABM Industries, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 2860 | &nbsp;&nbsp; 131903 |
| &nbsp;&nbsp;&nbsp; ACV Auctions, Inc. Class A (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 54822 | &nbsp;&nbsp; 543286 |
| AeroVironment, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 3132 | &nbsp;&nbsp; 986236 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 3530 | &nbsp;&nbsp; 224685 |
| Alamo Group, Inc. (Machinery) | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 97359 |
| Amentum Holdings, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 5700 | &nbsp;&nbsp; 136515 |
| Apogee Enterprises, Inc. (Building Products) | &nbsp;&nbsp; 1450 | &nbsp;&nbsp; 63177 |
| ArcBest Corp. (Ground Transportation) | &nbsp;&nbsp; 1059 | &nbsp;&nbsp; 73992 |
| Arcosa, Inc. (Construction & Engineering) | &nbsp;&nbsp; 1620 | &nbsp;&nbsp; 151810 |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 5422 | &nbsp;&nbsp; 1062766 |
| AZZ, Inc. (Building Products) | &nbsp;&nbsp; 1410 | &nbsp;&nbsp; 153873 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 1690 | &nbsp;&nbsp; 130671 |
| &nbsp;&nbsp;&nbsp; Brady Corp. Class A (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 2100 | &nbsp;&nbsp; 163863 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc. Class A <br> (Construction & Engineering)<br>(a) | &nbsp;&nbsp; 6152 | &nbsp;&nbsp; 781304 |
| &nbsp;&nbsp;&nbsp; CSG Systems International, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 2350 | &nbsp;&nbsp; 151293 |
| CSW Industrials, Inc. (Building Products) | &nbsp;&nbsp; 720 | &nbsp;&nbsp; 174780 |
| Deluxe Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5150 | &nbsp;&nbsp; 99704 |
| &nbsp;&nbsp;&nbsp; DXP Enterprises, Inc. (Trading Companies & <br> Distributors)<br>(a) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 107163 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 980 | &nbsp;&nbsp; 285925 |
| Enerpac Tool Group Corp. (Machinery) | &nbsp;&nbsp; 2210 | &nbsp;&nbsp; 90610 |
| Enpro, Inc. (Machinery) | &nbsp;&nbsp; 4125 | &nbsp;&nbsp; 932250 |
| Esab Corp. (Machinery) | &nbsp;&nbsp; 4729 | &nbsp;&nbsp; 528418 |
| ESCO Technologies, Inc. (Machinery) | &nbsp;&nbsp; 4273 | &nbsp;&nbsp; 902073 |
| &nbsp;&nbsp;&nbsp; Everus Construction Group, Inc. (Construction <br> & Engineering)<br>(a) | &nbsp;&nbsp; 10921 | &nbsp;&nbsp; 936476 |
| Federal Signal Corp. (Machinery) | &nbsp;&nbsp; 2460 | &nbsp;&nbsp; 292715 |
| Franklin Electric Co., Inc. (Machinery) | &nbsp;&nbsp; 1790 | &nbsp;&nbsp; 170408 |
| FTI Consulting, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 3670 | &nbsp;&nbsp; 593256 |
| Gates Industrial Corp. PLC (Machinery)<br> (a) | &nbsp;&nbsp; 8652 | &nbsp;&nbsp; 214743 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. / The (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 5630 | &nbsp;&nbsp; 115359 |
| &nbsp;&nbsp;&nbsp; Granite Construction, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 1330 | &nbsp;&nbsp; 145835 |
| Greenbrier Cos., Inc. / The (Machinery) | &nbsp;&nbsp; 1732 | &nbsp;&nbsp; 79966 |
| Griffon Corp. (Building Products) | &nbsp;&nbsp; 1840 | &nbsp;&nbsp; 140116 |
| Hayward Holdings, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 7330 | &nbsp;&nbsp; 110830 |
| Hillenbrand, Inc. (Machinery) | &nbsp;&nbsp; 4220 | &nbsp;&nbsp; 114109 |
| &nbsp;&nbsp;&nbsp; Hub Group, Inc. Class A (Air Freight & <br> Logistics)<br>| &nbsp;&nbsp; 2750 | &nbsp;&nbsp; 94710 |
| Interface, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5870 | &nbsp;&nbsp; 169878 |
| ITT, Inc. (Machinery) | &nbsp;&nbsp; 3910 | &nbsp;&nbsp; 698952 |
| JBT Marel Corp. (Machinery) | &nbsp;&nbsp; 1909 | &nbsp;&nbsp; 268119 |
| Kadant, Inc. (Machinery) | &nbsp;&nbsp; 480 | &nbsp;&nbsp; 142838 |
| Karman Holdings, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 10534 | &nbsp;&nbsp; 760555 |
| Korn Ferry (Professional Svs.) | &nbsp;&nbsp; 1940 | &nbsp;&nbsp; 135761 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. <br> (Aerospace & Defense)<br>(a) | &nbsp;&nbsp; 8465 | &nbsp;&nbsp; 773447 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Small Cap Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Legence Corp. Class A (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 12744 | &nbsp;&nbsp; $392643 |
| Leonardo DRS, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 14642 | &nbsp;&nbsp; 664747 |
| Loar Holdings, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 6895 | &nbsp;&nbsp; 551600 |
| Marten Transport Ltd. (Ground Transportation) | &nbsp;&nbsp; 4660 | &nbsp;&nbsp; 49676 |
| Masterbrand, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 6500 | &nbsp;&nbsp; 85605 |
| Matson, Inc. (Marine Transportation) | &nbsp;&nbsp; 1434 | &nbsp;&nbsp; 141378 |
| Mercury Systems, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1855 | &nbsp;&nbsp; 143577 |
| MillerKnoll, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 3990 | &nbsp;&nbsp; 70783 |
| Moog, Inc. Class A (Aerospace & Defense) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 228437 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc. Class A <br> (Machinery)<br>| &nbsp;&nbsp; 6260 | &nbsp;&nbsp; 159755 |
| MYR Group, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 640 | &nbsp;&nbsp; 133139 |
| OPENLANE, Inc. (Commercial Svs. & Supplies)<br> (a) | &nbsp;&nbsp; 4230 | &nbsp;&nbsp; 121739 |
| &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 1440 | &nbsp;&nbsp; 16430 |
| Powell Industries, Inc. (Electrical Equip.) | &nbsp;&nbsp; 430 | &nbsp;&nbsp; 131068 |
| &nbsp;&nbsp;&nbsp; Primoris Services Corp. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 6727 | &nbsp;&nbsp; 923819 |
| Resideo Technologies, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 5790 | &nbsp;&nbsp; 250012 |
| Robert Half, Inc. (Professional Svs.) | &nbsp;&nbsp; 3630 | &nbsp;&nbsp; 123347 |
| &nbsp;&nbsp;&nbsp; Rush Enterprises, Inc. Class A (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 2686 | &nbsp;&nbsp; 143620 |
| RXO, Inc. (Ground Transportation)<br> (a) | &nbsp;&nbsp; 5956 | &nbsp;&nbsp; 91603 |
| Saia, Inc. (Ground Transportation)<br> (a) | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 20057 |
| &nbsp;&nbsp;&nbsp; Schneider National, Inc. Class B <br> (Ground Transportation)<br>| &nbsp;&nbsp; 3920 | &nbsp;&nbsp; 82947 |
| SkyWest, Inc. (Passenger Airlines)<br> (a) | &nbsp;&nbsp; 1570 | &nbsp;&nbsp; 157973 |
| SPX Technologies, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 7214 | &nbsp;&nbsp; 1347431 |
| StandardAero, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 19280 | &nbsp;&nbsp; 526151 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 1221 | &nbsp;&nbsp; 414749 |
| &nbsp;&nbsp;&nbsp; Sun Country Airlines Holdings, Inc. <br> (Passenger Airlines)<br>(a) | &nbsp;&nbsp; 7020 | &nbsp;&nbsp; 82906 |
| Sunrun, Inc. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 11012 | &nbsp;&nbsp; 190398 |
| Tennant Co. (Machinery) | &nbsp;&nbsp; 1190 | &nbsp;&nbsp; 96461 |
| Titan International, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 7860 | &nbsp;&nbsp; 59422 |
| Trinity Industries, Inc. (Machinery) | &nbsp;&nbsp; 4060 | &nbsp;&nbsp; 113842 |
| UniFirst Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 670 | &nbsp;&nbsp; 112017 |
| Verra Mobility Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 5948 | &nbsp;&nbsp; 146916 |
| &nbsp;&nbsp;&nbsp; Voyager Technologies, Inc. Class A (Aerospace <br> & Defense)<br>(a) | &nbsp;&nbsp; 5720 | &nbsp;&nbsp; 170342 |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 7380 | &nbsp;&nbsp; 155792 |
| Worthington Enterprises, Inc. (Machinery) | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 99882 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. <br> (Building Products)<br>| &nbsp;&nbsp; 21682 | &nbsp;&nbsp; 1019704 |
|  |  | &nbsp;&nbsp; 23275711 |
| **Information Technology–19.9%** |  |  |
| ACI Worldwide, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4166 | &nbsp;&nbsp; 219840 |
| &nbsp;&nbsp;&nbsp; ACM Research, Inc. Class A (Semiconductors <br> & Equip.)<br>(a) | &nbsp;&nbsp; 1934 | &nbsp;&nbsp; 75677 |
| Adeia, Inc. (Software) | &nbsp;&nbsp; 7000 | &nbsp;&nbsp; 117600 |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. (Electronic <br> Equip., Instr. & Comp.)<br>| &nbsp;&nbsp; 1210 | &nbsp;&nbsp; 205869 |
| Alarm.com Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2300 | &nbsp;&nbsp; 122084 |
| Alkami Technology, Inc. (Software)<br> (a) | &nbsp;&nbsp; 31909 | &nbsp;&nbsp; 792620 |
| &nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 20290 | &nbsp;&nbsp; 592468 |
| &nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor Ltd. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 2680 | &nbsp;&nbsp; 74933 |
| Ambiq Micro, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 3969 | &nbsp;&nbsp; 118752 |
| Amplitude, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 51955 | &nbsp;&nbsp; 556958 |
| &nbsp;&nbsp;&nbsp; Arlo Technologies, Inc. (Electronic Equip., Instr. <br> & Comp.)<br>(a) | &nbsp;&nbsp; 5800 | &nbsp;&nbsp; 98310 |
| &nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 117168 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 200010 |
| BlackLine, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2570 | &nbsp;&nbsp; 136467 |
| Box, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 5770 | &nbsp;&nbsp; 186198 |
| Braze, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 16494 | &nbsp;&nbsp; 469089 |
| Calix, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 2160 | &nbsp;&nbsp; 132559 |
| Cleanspark, Inc. (Software)<br> (a) | &nbsp;&nbsp; 11200 | &nbsp;&nbsp; 162400 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Clear Secure, Inc. Class A (Software) | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; $120168 |
| &nbsp;&nbsp;&nbsp; Corsair Gaming, Inc. (Tech. Hardware, Storage <br> & Periph.)<br>(a) | &nbsp;&nbsp; 9060 | &nbsp;&nbsp; 80815 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding Ltd. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 8696 | &nbsp;&nbsp; 1266225 |
| CTS Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 2150 | &nbsp;&nbsp; 85871 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 4380 | &nbsp;&nbsp; 159695 |
| DigitalOcean Holdings, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 2581 | &nbsp;&nbsp; 88167 |
| Diodes, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2320 | &nbsp;&nbsp; 123447 |
| DXC Technology Co. (IT Svs.)<br> (a) | &nbsp;&nbsp; 8350 | &nbsp;&nbsp; 113810 |
| &nbsp;&nbsp;&nbsp; Enphase Energy, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 169872 |
| ePlus, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 1350 | &nbsp;&nbsp; 95863 |
| &nbsp;&nbsp;&nbsp; Extreme Networks, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 4860 | &nbsp;&nbsp; 100359 |
| Fabrinet (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 2906 | &nbsp;&nbsp; 1059586 |
| Harmonic, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 2597 | &nbsp;&nbsp; 26437 |
| Impinj, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 990 | &nbsp;&nbsp; 178942 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 1090 | &nbsp;&nbsp; 123617 |
| Intapp, Inc. (Software)<br> (a) | &nbsp;&nbsp; 15243 | &nbsp;&nbsp; 623439 |
| InterDigital, Inc. (Software) | &nbsp;&nbsp; 1060 | &nbsp;&nbsp; 365944 |
| Itron, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 1850 | &nbsp;&nbsp; 230436 |
| JFrog Ltd. (Software)<br> (a) | &nbsp;&nbsp; 16125 | &nbsp;&nbsp; 763196 |
| Klaviyo, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 23432 | &nbsp;&nbsp; 648832 |
| &nbsp;&nbsp;&nbsp; Knowles Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 4990 | &nbsp;&nbsp; 116317 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. <br> (Semiconductors & Equip.)<br>| &nbsp;&nbsp; 3430 | &nbsp;&nbsp; 139395 |
| &nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp. (Semiconductors <br> & Equip.)<br>(a) | &nbsp;&nbsp; 2181 | &nbsp;&nbsp; 159911 |
| LiveRamp Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 13570 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 3460 | &nbsp;&nbsp; 562977 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 6005 | &nbsp;&nbsp; 747562 |
| MARA Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 13906 | &nbsp;&nbsp; 253924 |
| MaxLinear, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 4640 | &nbsp;&nbsp; 74611 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 7017 | &nbsp;&nbsp; 163215 |
| Monday.com Ltd. (Software)<br> (a) | &nbsp;&nbsp; 1820 | &nbsp;&nbsp; 352516 |
| N-able, Inc. (Software)<br> (a) | &nbsp;&nbsp; 12800 | &nbsp;&nbsp; 99840 |
| NCR Voyix Corp. (Software)<br> (a) | &nbsp;&nbsp; 7920 | &nbsp;&nbsp; 99396 |
| &nbsp;&nbsp;&nbsp; NetScout Systems, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 5976 | &nbsp;&nbsp; 154360 |
| Netskope, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 7914 | &nbsp;&nbsp; 179885 |
| Onestream, Inc. (Software)<br> (a) | &nbsp;&nbsp; 24170 | &nbsp;&nbsp; 445453 |
| &nbsp;&nbsp;&nbsp; OSI Systems, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 94711 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 1580 | &nbsp;&nbsp; 97944 |
| Photronics, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 3990 | &nbsp;&nbsp; 91571 |
| Plexus Corp. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 162053 |
| Q2 Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2300 | &nbsp;&nbsp; 166497 |
| Qorvo, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2800 | &nbsp;&nbsp; 255024 |
| &nbsp;&nbsp;&nbsp; Ralliant Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 4519 | &nbsp;&nbsp; 197616 |
| Rambus, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 8258 | &nbsp;&nbsp; 860484 |
| Rubrik, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 6556 | &nbsp;&nbsp; 539231 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp. (Tech. Hardware, Storage & <br> Periph.)<br>(a) | &nbsp;&nbsp; 4848 | &nbsp;&nbsp; 543946 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 2010 | &nbsp;&nbsp; 231371 |
| Semtech Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 19506 | &nbsp;&nbsp; 1393704 |
| ServiceTitan, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 5393 | &nbsp;&nbsp; 543776 |
| SiTime Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 3720 | &nbsp;&nbsp; 1120873 |
| SPS Commerce, Inc. (Software)<br> (a) | &nbsp;&nbsp; 1620 | &nbsp;&nbsp; 168707 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 3410 | &nbsp;&nbsp; 196416 |
| &nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 5100 | &nbsp;&nbsp; 138975 |
| &nbsp;&nbsp;&nbsp; Veeco Instruments, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 2476 | &nbsp;&nbsp; 75345 |
| Via Transportation, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 4421 | &nbsp;&nbsp; 212562 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Small Cap Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Viasat, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 3250 | &nbsp;&nbsp; $95225 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 6200 | &nbsp;&nbsp; 94860 |
|  |  | &nbsp;&nbsp; 21647546 |
| **Materials–3.1%** |  |  |
| Balchem Corp. (Chemicals) | &nbsp;&nbsp; 1190 | &nbsp;&nbsp; 178571 |
| Celanese Corp. (Chemicals) | &nbsp;&nbsp; 4370 | &nbsp;&nbsp; 183890 |
| Element Solutions, Inc. (Chemicals) | &nbsp;&nbsp; 35090 | &nbsp;&nbsp; 883215 |
| FMC Corp. (Chemicals) | &nbsp;&nbsp; 4990 | &nbsp;&nbsp; 167814 |
| H.B. Fuller Co. (Chemicals) | &nbsp;&nbsp; 2182 | &nbsp;&nbsp; 129349 |
| Hawkins, Inc. (Chemicals) | &nbsp;&nbsp; 767 | &nbsp;&nbsp; 140146 |
| Hecla Mining Co. (Metals & Mining) | &nbsp;&nbsp; 24300 | &nbsp;&nbsp; 294030 |
| Ingevity Corp. (Chemicals)<br> (a) | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 114243 |
| Kaiser Aluminum Corp. (Metals & Mining) | &nbsp;&nbsp; 1580 | &nbsp;&nbsp; 121913 |
| Koppers Holdings, Inc. (Chemicals) | &nbsp;&nbsp; 2080 | &nbsp;&nbsp; 58240 |
| Materion Corp. (Metals & Mining) | &nbsp;&nbsp; 1068 | &nbsp;&nbsp; 129025 |
| Minerals Technologies, Inc. (Chemicals) | &nbsp;&nbsp; 1740 | &nbsp;&nbsp; 108089 |
| O-I Glass, Inc. (Containers & Packaging)<br> (a) | &nbsp;&nbsp; 7907 | &nbsp;&nbsp; 102554 |
| Quaker Chemical Corp. (Chemicals) | &nbsp;&nbsp; 710 | &nbsp;&nbsp; 93543 |
| Sealed Air Corp. (Containers & Packaging) | &nbsp;&nbsp; 4299 | &nbsp;&nbsp; 151970 |
| Sensient Technologies Corp. (Chemicals) | &nbsp;&nbsp; 1890 | &nbsp;&nbsp; 177376 |
| Sylvamo Corp. (Paper & Forest Products) | &nbsp;&nbsp; 1720 | &nbsp;&nbsp; 76058 |
| Warrior Met Coal, Inc. (Metals & Mining) | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 127280 |
| Worthington Steel, Inc. (Metals & Mining) | &nbsp;&nbsp; 3590 | &nbsp;&nbsp; 109100 |
|  |  | &nbsp;&nbsp; 3346406 |
| **Real Estate–3.4%** |  |  |
| Acadia Realty Trust (Retail REITs) | &nbsp;&nbsp; 6240 | &nbsp;&nbsp; 125736 |
| American Assets Trust, Inc. (Diversified REITs) | &nbsp;&nbsp; 5070 | &nbsp;&nbsp; 103022 |
| &nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc. (Hotel & Resort <br> REITs)<br>| &nbsp;&nbsp; 11700 | &nbsp;&nbsp; 140517 |
| CareTrust REIT, Inc. (Health Care REITs) | &nbsp;&nbsp; 7931 | &nbsp;&nbsp; 275047 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield PLC (Real Estate Mgmt. <br> & Development)<br>(a) | &nbsp;&nbsp; 9490 | &nbsp;&nbsp; 151081 |
| &nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc. <br> (Office REITs)<br>| &nbsp;&nbsp; 3680 | &nbsp;&nbsp; 84382 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. <br> (Diversified REITs)<br>| &nbsp;&nbsp; 3741 | &nbsp;&nbsp; 111332 |
| Getty Realty Corp. (Retail REITs) | &nbsp;&nbsp; 4240 | &nbsp;&nbsp; 113759 |
| Global Net Lease, Inc. (Diversified REITs) | &nbsp;&nbsp; 13700 | &nbsp;&nbsp; 111381 |
| Highwoods Properties, Inc. (Office REITs) | &nbsp;&nbsp; 4141 | &nbsp;&nbsp; 131767 |
| &nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. <br> (Industrial REITs)<br>| &nbsp;&nbsp; 1220 | &nbsp;&nbsp; 65368 |
| JBG SMITH Properties (Office REITs) | &nbsp;&nbsp; 6370 | &nbsp;&nbsp; 141732 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson Holdings, Inc. (Real Estate <br> Mgmt. & Development)<br>| &nbsp;&nbsp; 10190 | &nbsp;&nbsp; 84781 |
| LTC Properties, Inc. (Health Care REITs) | &nbsp;&nbsp; 2800 | &nbsp;&nbsp; 103208 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate (continued)** |  |  |
| LXP Industrial Trust (Industrial REITs) | &nbsp;&nbsp; 11630 | &nbsp;&nbsp; $104205 |
| Macerich Co. / The (Retail REITs) | &nbsp;&nbsp; 10030 | &nbsp;&nbsp; 182546 |
| &nbsp;&nbsp;&nbsp; Marcus & Millichap, Inc. (Real Estate Mgmt. & <br> Development)<br>| &nbsp;&nbsp; 2590 | &nbsp;&nbsp; 76017 |
| Millrose Properties, Inc. (Specialized REITs) | &nbsp;&nbsp; 5136 | &nbsp;&nbsp; 172621 |
| &nbsp;&nbsp;&nbsp; NexPoint Residential Trust, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 1600 | &nbsp;&nbsp; 51552 |
| Pebblebrook Hotel Trust (Hotel & Resort REITs) | &nbsp;&nbsp; 8530 | &nbsp;&nbsp; 97157 |
| Phillips Edison & Co., Inc. (Retail REITs) | &nbsp;&nbsp; 4650 | &nbsp;&nbsp; 159634 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. (Hotel & <br> Resort REITs)<br>| &nbsp;&nbsp; 1300 | &nbsp;&nbsp; 116467 |
| Safehold, Inc. (Specialized REITs) | &nbsp;&nbsp; 9581 | &nbsp;&nbsp; 148410 |
| SITE Centers Corp. (Retail REITs) | &nbsp;&nbsp; 3615 | &nbsp;&nbsp; 32571 |
| SL Green Realty Corp. (Office REITs) | &nbsp;&nbsp; 2446 | &nbsp;&nbsp; 146295 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. (Hotel & Resort <br> REITs)<br>| &nbsp;&nbsp; 15043 | &nbsp;&nbsp; 140953 |
| Tanger, Inc. (Retail REITs) | &nbsp;&nbsp; 4581 | &nbsp;&nbsp; 155021 |
| Terreno Realty Corp. (Industrial REITs) | &nbsp;&nbsp; 4100 | &nbsp;&nbsp; 232675 |
| Urban Edge Properties (Retail REITs) | &nbsp;&nbsp; 5370 | &nbsp;&nbsp; 109924 |
| Veris Residential, Inc. (Residential REITs) | &nbsp;&nbsp; 5360 | &nbsp;&nbsp; 81472 |
|  |  | &nbsp;&nbsp; 3750633 |
| **Utilities–1.0%** |  |  |
| American States Water Co. (Water Utilities) | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 109980 |
| Avista Corp. (Multi-Utilities) | &nbsp;&nbsp; 3300 | &nbsp;&nbsp; 124773 |
| &nbsp;&nbsp;&nbsp; California Water Service Group <br> (Water Utilities)<br>| &nbsp;&nbsp; 2120 | &nbsp;&nbsp; 97287 |
| Chesapeake Utilities Corp. (Gas Utilities) | &nbsp;&nbsp; 950 | &nbsp;&nbsp; 127955 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc. Class C (Ind. Power & <br> Renewable Elec.)<br>| &nbsp;&nbsp; 3300 | &nbsp;&nbsp; 93225 |
| MDU Resources Group, Inc. (Gas Utilities) | &nbsp;&nbsp; 5678 | &nbsp;&nbsp; 101125 |
| MGE Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 1133 | &nbsp;&nbsp; 95376 |
| Middlesex Water Co. (Water Utilities) | &nbsp;&nbsp; 1910 | &nbsp;&nbsp; 103369 |
| Northwest Natural Holding Co. (Gas Utilities) | &nbsp;&nbsp; 2830 | &nbsp;&nbsp; 127152 |
| Otter Tail Corp. (Electric Utilities) | &nbsp;&nbsp; 1911 | &nbsp;&nbsp; 156645 |
|  |  | &nbsp;&nbsp; 1136887 |
| **Total Common Stocks (Cost $99,252,045)** |  | &nbsp;&nbsp; $108082477 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–0.3%** | **Shares** | **Value** |
| iShares Core S&P Small-Cap ETF  | &nbsp;&nbsp; 2752 | &nbsp;&nbsp; $327020 |
| **Total Exchange Traded Funds (Cost $324,246)** |  | &nbsp;&nbsp; $327020 |
| **Total Investments – 99.5% (Cost $99,576,291)**<br> (b) |  | &nbsp;&nbsp; $108409497 |
| **Other Assets in Excess of Liabilities – 0.5%** |  | &nbsp;&nbsp; 554121 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $108963618 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; ADR: | American Depositary Receipts |
| &nbsp;&nbsp;&nbsp;&nbsp; ETF: | Exchange Traded Fund |
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Footnotes: <br> (a) Non-income producing security. <br> (b) Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of Investments.

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–98.9%** | **Shares** | **Value** |
| **Communication Services–3.2%** |  |  |
| Charter Communications, Inc. Class A (Media)<br> (a) | &nbsp;&nbsp; 233 | &nbsp;&nbsp; $64100 |
| Criteo SA – ADR (Media)<br> (a) | &nbsp;&nbsp; 7120 | &nbsp;&nbsp; 160912 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 648 | &nbsp;&nbsp; 130702 |
| Fox Corp. Class A (Media) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 56754 |
| Fox Corp. Class B (Media) | &nbsp;&nbsp; 890 | &nbsp;&nbsp; 50988 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc. <br> (Diversified Telecom. Svs.)<br>(a) | &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 48182 |
| &nbsp;&nbsp;&nbsp; GCI Liberty, Inc. Class C (Diversified Telecom. <br> Svs.)<br>(a) | &nbsp;&nbsp; 132 | &nbsp;&nbsp; 4920 |
| Liberty Broadband Corp. Class C (Media)<br> (a) | &nbsp;&nbsp; 660 | &nbsp;&nbsp; 41936 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp. - Liberty Formula One <br> Class C (Entertainment)<br>(a) | &nbsp;&nbsp; 720 | &nbsp;&nbsp; 75204 |
| Live Nation Entertainment, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 63726 |
| Nexstar Media Group, Inc. (Media) | &nbsp;&nbsp; 1510 | &nbsp;&nbsp; 298587 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc. Class A (Interactive Media & <br> Svs.)<br>(a) | &nbsp;&nbsp; 1690 | &nbsp;&nbsp; 54367 |
| Reddit, Inc. Class A (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 1326 | &nbsp;&nbsp; 304967 |
| ROBLOX Corp. Class A (Entertainment)<br> (a) | &nbsp;&nbsp; 1750 | &nbsp;&nbsp; 242410 |
| Sirius XM Holdings, Inc. (Media) | &nbsp;&nbsp; 3186 | &nbsp;&nbsp; 74154 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 460 | &nbsp;&nbsp; 118846 |
| TKO Group Holdings, Inc. (Entertainment) | &nbsp;&nbsp; 1873 | &nbsp;&nbsp; 378271 |
| Trade Desk, Inc. / The Class A (Media)<br> (a) | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 54891 |
| Warner Bros. Discovery, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 7731 | &nbsp;&nbsp; 150986 |
|  |  | &nbsp;&nbsp; 2374903 |
| **Consumer Discretionary–12.1%** |  |  |
| ADT, Inc. (Diversified Consumer Svs.) | &nbsp;&nbsp; 36915 | &nbsp;&nbsp; 321530 |
| &nbsp;&nbsp;&nbsp; Amer Sports, Inc. (Textiles, Apparel & Luxury <br> Goods)<br>(a) | &nbsp;&nbsp; 9145 | &nbsp;&nbsp; 317789 |
| Aramark (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 1962 | &nbsp;&nbsp; 75341 |
| AutoNation, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 966 | &nbsp;&nbsp; 211332 |
| Bath & Body Works, Inc. (Specialty Retail) | &nbsp;&nbsp; 9863 | &nbsp;&nbsp; 254071 |
| Best Buy Co., Inc. (Specialty Retail) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 71083 |
| &nbsp;&nbsp;&nbsp; Birkenstock Holding PLC (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 5653 | &nbsp;&nbsp; 255798 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 6913 | &nbsp;&nbsp; 303895 |
| Brunswick Corp. (Leisure Products) | &nbsp;&nbsp; 3969 | &nbsp;&nbsp; 251000 |
| Burlington Stores, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 953 | &nbsp;&nbsp; 242538 |
| CarMax, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 820 | &nbsp;&nbsp; 36793 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | &nbsp;&nbsp; 1030 | &nbsp;&nbsp; 29777 |
| Carvana Co. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 116944 |
| &nbsp;&nbsp;&nbsp; Cava Group, Inc. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 36850 |
| Champion Homes, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 2917 | &nbsp;&nbsp; 222771 |
| Coupang, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 3130 | &nbsp;&nbsp; 100786 |
| &nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 2840 | &nbsp;&nbsp; 125130 |
| Crocs, Inc. (Textiles, Apparel & Luxury Goods)<br> (a) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 37598 |
| D.R. Horton, Inc. (Household Durables) | &nbsp;&nbsp; 730 | &nbsp;&nbsp; 123713 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 250 | &nbsp;&nbsp; 47590 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 180 | &nbsp;&nbsp; 77708 |
| &nbsp;&nbsp;&nbsp; DraftKings, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 7366 | &nbsp;&nbsp; 275488 |
| Duolingo, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 1214 | &nbsp;&nbsp; 390714 |
| eBay, Inc. (Broadline Retail) | &nbsp;&nbsp; 1190 | &nbsp;&nbsp; 108230 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 270 | &nbsp;&nbsp; 57713 |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment PLC (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 114300 |
| Ford Motor Co. (Automobiles) | &nbsp;&nbsp; 9990 | &nbsp;&nbsp; 119480 |
| GameStop Corp. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2136 | &nbsp;&nbsp; 58270 |
| Gap, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 2190 | &nbsp;&nbsp; 46844 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 359 | &nbsp;&nbsp; 88393 |
| Genuine Parts Co. (Distributors) | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 84546 |
| Group 1 Automotive, Inc. (Specialty Retail) | &nbsp;&nbsp; 356 | &nbsp;&nbsp; 155754 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 581 | &nbsp;&nbsp; 150735 |
| &nbsp;&nbsp;&nbsp; Hyatt Hotels Corp. Class A (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 536 | &nbsp;&nbsp; 76074 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 1210 | &nbsp;&nbsp; 65086 |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc. (Diversified Consumer <br> Svs.)<br>(a) | &nbsp;&nbsp; 11320 | &nbsp;&nbsp; 357033 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Discretionary (continued)** |  |  |
| Lennar Corp. Class A (Household Durables) | &nbsp;&nbsp; 580 | &nbsp;&nbsp; $73103 |
| LKQ Corp. (Distributors) | &nbsp;&nbsp; 1630 | &nbsp;&nbsp; 49780 |
| Lucid Group, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 2465 | &nbsp;&nbsp; 58642 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 48041 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 1930 | &nbsp;&nbsp; 66894 |
| Murphy U.S.A., Inc. (Specialty Retail) | &nbsp;&nbsp; 558 | &nbsp;&nbsp; 216649 |
| &nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 3400 | &nbsp;&nbsp; 83742 |
| NVR, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 56243 |
| &nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc. <br> (Broadline Retail)<br>(a) | &nbsp;&nbsp; 1969 | &nbsp;&nbsp; 252820 |
| &nbsp;&nbsp;&nbsp; On Holding AG Class A (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 6639 | &nbsp;&nbsp; 281162 |
| PulteGroup, Inc. (Household Durables) | &nbsp;&nbsp; 544 | &nbsp;&nbsp; 71879 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 227 | &nbsp;&nbsp; 71178 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 830 | &nbsp;&nbsp; 53236 |
| RH (Specialty Retail)<br> (a) | &nbsp;&nbsp; 1066 | &nbsp;&nbsp; 216569 |
| Rivian Automotive, Inc. Class A (Automobiles)<br> (a) | &nbsp;&nbsp; 2290 | &nbsp;&nbsp; 33617 |
| Ross Stores, Inc. (Specialty Retail) | &nbsp;&nbsp; 845 | &nbsp;&nbsp; 128770 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 610 | &nbsp;&nbsp; 197384 |
| &nbsp;&nbsp;&nbsp; Service Corp. International (Diversified <br> Consumer Svs.)<br>| &nbsp;&nbsp; 570 | &nbsp;&nbsp; 47435 |
| SharkNinja, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 3268 | &nbsp;&nbsp; 337094 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 630 | &nbsp;&nbsp; 53128 |
| &nbsp;&nbsp;&nbsp; Stubhub Holdings, Inc. Class A (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 7871 | &nbsp;&nbsp; 132548 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 520 | &nbsp;&nbsp; 58874 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp. <br> (Household Durables)<br>(a) | &nbsp;&nbsp; 2250 | &nbsp;&nbsp; 148522 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 250 | &nbsp;&nbsp; 41538 |
| Tractor Supply Co. (Specialty Retail) | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 68244 |
| Ulta Beauty, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 60142 |
| &nbsp;&nbsp;&nbsp; Viking Holdings Ltd. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 4918 | &nbsp;&nbsp; 305703 |
| Williams-Sonoma, Inc. (Specialty Retail) | &nbsp;&nbsp; 336 | &nbsp;&nbsp; 65671 |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 942 | &nbsp;&nbsp; 237083 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 750 | &nbsp;&nbsp; 59925 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 340 | &nbsp;&nbsp; 51680 |
|  |  | &nbsp;&nbsp; 9035993 |
| **Consumer Staples–4.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. Class A (Consumer <br> Staples Distribution & Retail)<br>| &nbsp;&nbsp; 2510 | &nbsp;&nbsp; 43950 |
| Archer-Daniels-Midland Co. (Food Products) | &nbsp;&nbsp; 1270 | &nbsp;&nbsp; 75870 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 3910 | &nbsp;&nbsp; 364607 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 90 | &nbsp;&nbsp; 50879 |
| Celsius Holdings, Inc. (Beverages)<br> (a) | &nbsp;&nbsp; 7599 | &nbsp;&nbsp; 436867 |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. <br> (Household Products)<br>| &nbsp;&nbsp; 656 | &nbsp;&nbsp; 57485 |
| Clorox Co. / The (Household Products) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 49320 |
| Constellation Brands, Inc. Class A (Beverages) | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 44441 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 580 | &nbsp;&nbsp; 59943 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc. (Consumer Staples Distribution <br> & Retail)<br>(a) | &nbsp;&nbsp; 2710 | &nbsp;&nbsp; 255743 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. / The Class A (Personal <br> Care Products)<br>| &nbsp;&nbsp; 600 | &nbsp;&nbsp; 52872 |
| General Mills, Inc. (Food Products) | &nbsp;&nbsp; 1414 | &nbsp;&nbsp; 71294 |
| Hershey Co. / The (Food Products) | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 71079 |
| Hormel Foods Corp. (Food Products) | &nbsp;&nbsp; 1720 | &nbsp;&nbsp; 42553 |
| Kellanova (Food Products) | &nbsp;&nbsp; 1220 | &nbsp;&nbsp; 100064 |
| Kenvue, Inc. (Personal Care Products) | &nbsp;&nbsp; 5780 | &nbsp;&nbsp; 93809 |
| Kraft Heinz Co. / The (Food Products) | &nbsp;&nbsp; 2180 | &nbsp;&nbsp; 56767 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Staples (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Kroger Co. / The (Consumer Staples Distribution <br> & Retail)<br>| &nbsp;&nbsp; 1556 | &nbsp;&nbsp; $104890 |
| &nbsp;&nbsp;&nbsp; Maplebear, Inc. (Consumer Staples Distribution <br> & Retail)<br>(a) | &nbsp;&nbsp; 1510 | &nbsp;&nbsp; 55508 |
| McCormick & Co., Inc. (Food Products) | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 67579 |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. Class B <br> (Beverages)<br>| &nbsp;&nbsp; 910 | &nbsp;&nbsp; 41178 |
| Nomad Foods Ltd. (Food Products) | &nbsp;&nbsp; 15963 | &nbsp;&nbsp; 209913 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 810 | &nbsp;&nbsp; 84272 |
| Pilgrim's Pride Corp. (Food Products) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 44792 |
| Primo Brands Corp. (Beverages) | &nbsp;&nbsp; 1560 | &nbsp;&nbsp; 34476 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 670 | &nbsp;&nbsp; 55168 |
| The Campbell's Company (Food Products) | &nbsp;&nbsp; 1600 | &nbsp;&nbsp; 50528 |
| &nbsp;&nbsp;&nbsp; U.S. Foods Holding Corp. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 1110 | &nbsp;&nbsp; 85048 |
| WD-40 Co. (Household Products) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 217360 |
|  |  | &nbsp;&nbsp; 2978255 |
| **Energy–4.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Antero Midstream Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 2470 | &nbsp;&nbsp; 48017 |
| Baker Hughes Co. (Energy Equip. & Svs.) | &nbsp;&nbsp; 1420 | &nbsp;&nbsp; 69182 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 562 | &nbsp;&nbsp; 132059 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 340 | &nbsp;&nbsp; 33786 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 2470 | &nbsp;&nbsp; 58415 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 1627 | &nbsp;&nbsp; 57043 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 406 | &nbsp;&nbsp; 58099 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 1778 | &nbsp;&nbsp; 96777 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 560 | &nbsp;&nbsp; 59494 |
| Halliburton Co. (Energy Equip. & Svs.) | &nbsp;&nbsp; 2640 | &nbsp;&nbsp; 64944 |
| HF Sinclair Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 3234 | &nbsp;&nbsp; 169268 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 4930 | &nbsp;&nbsp; 139568 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp. Class A (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 9214 | &nbsp;&nbsp; 219938 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 780 | &nbsp;&nbsp; 150337 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 5900 | &nbsp;&nbsp; 265087 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 6609 | &nbsp;&nbsp; 163903 |
| NOV, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 3710 | &nbsp;&nbsp; 49158 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 1720 | &nbsp;&nbsp; 81270 |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 1560 | &nbsp;&nbsp; 113833 |
| Phillips 66 (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 1040 | &nbsp;&nbsp; 141461 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 1810 | &nbsp;&nbsp; 68128 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 561 | &nbsp;&nbsp; 93990 |
| TechnipFMC PLC (Energy Equip. & Svs.) | &nbsp;&nbsp; 12553 | &nbsp;&nbsp; 495216 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; 46682 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 800 | &nbsp;&nbsp; 136208 |
|  |  | &nbsp;&nbsp; 3011863 |
| **Financials–14.9%** |  |  |
| Accelerant Holdings Class A (Insurance)<br> (a) | &nbsp;&nbsp; 5561 | &nbsp;&nbsp; 82803 |
| Affirm Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 4818 | &nbsp;&nbsp; 352099 |
| Allstate Corp. / The (Insurance) | &nbsp;&nbsp; 710 | &nbsp;&nbsp; 152401 |
| Ally Financial, Inc. (Consumer Finance) | &nbsp;&nbsp; 1520 | &nbsp;&nbsp; 59584 |
| American Financial Group, Inc. (Insurance) | &nbsp;&nbsp; 2925 | &nbsp;&nbsp; 426231 |
| Ameriprise Financial, Inc. (Capital Markets) | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 117900 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. <br> (Mortgage REIT)<br>| &nbsp;&nbsp; 2850 | &nbsp;&nbsp; 57598 |
| Arch Capital Group Ltd. (Insurance) | &nbsp;&nbsp; 930 | &nbsp;&nbsp; 84379 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Ares Management Corp. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 380 | &nbsp;&nbsp; $60758 |
| Axis Capital Holdings Ltd. (Insurance) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 43110 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. / The <br> (Capital Markets)<br>| &nbsp;&nbsp; 1890 | &nbsp;&nbsp; 205934 |
| Block, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 1820 | &nbsp;&nbsp; 131531 |
| Blue Owl Capital, Inc. (Capital Markets) | &nbsp;&nbsp; 2390 | &nbsp;&nbsp; 40463 |
| Brown & Brown, Inc. (Insurance) | &nbsp;&nbsp; 640 | &nbsp;&nbsp; 60026 |
| Carlyle Group, Inc. / The (Capital Markets) | &nbsp;&nbsp; 840 | &nbsp;&nbsp; 52668 |
| CBOE Global Markets, Inc. (Capital Markets) | &nbsp;&nbsp; 815 | &nbsp;&nbsp; 199879 |
| &nbsp;&nbsp;&nbsp; Chime Financial, Inc. Class A <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 6313 | &nbsp;&nbsp; 127333 |
| Cincinnati Financial Corp. (Insurance) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 63240 |
| Citizens Financial Group, Inc. (Banks) | &nbsp;&nbsp; 1110 | &nbsp;&nbsp; 59008 |
| CNA Financial Corp. (Insurance) | &nbsp;&nbsp; 1360 | &nbsp;&nbsp; 63186 |
| Coinbase Global, Inc. Class A (Capital Markets)<br> (a) | &nbsp;&nbsp; 633 | &nbsp;&nbsp; 213631 |
| Comerica, Inc. (Banks) | &nbsp;&nbsp; 2947 | &nbsp;&nbsp; 201928 |
| Commerce Bancshares, Inc. (Banks) | &nbsp;&nbsp; 966 | &nbsp;&nbsp; 57728 |
| Corebridge Financial, Inc. (Financial Services) | &nbsp;&nbsp; 1380 | &nbsp;&nbsp; 44229 |
| Corpay, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 43209 |
| Credit Acceptance Corp. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 56032 |
| East West Bancorp, Inc. (Banks) | &nbsp;&nbsp; 460 | &nbsp;&nbsp; 48967 |
| Euronet Worldwide, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 536 | &nbsp;&nbsp; 47066 |
| Everest Group Ltd. (Insurance) | &nbsp;&nbsp; 43 | &nbsp;&nbsp; 15060 |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 120 | &nbsp;&nbsp; 34379 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 1340 | &nbsp;&nbsp; 88360 |
| Fifth Third Bancorp (Banks) | &nbsp;&nbsp; 2010 | &nbsp;&nbsp; 89545 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc. Class A <br> (Consumer Finance)<br>(a) | &nbsp;&nbsp; 3730 | &nbsp;&nbsp; 135660 |
| First BanCorp (Banks) | &nbsp;&nbsp; 9340 | &nbsp;&nbsp; 205947 |
| First Citizens BancShares, Inc. Class A (Banks) | &nbsp;&nbsp; 182 | &nbsp;&nbsp; 325627 |
| First Hawaiian, Inc. (Banks) | &nbsp;&nbsp; 6933 | &nbsp;&nbsp; 172146 |
| First Horizon Corp. (Banks) | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 53360 |
| FirstCash Holdings, Inc. (Consumer Finance) | &nbsp;&nbsp; 959 | &nbsp;&nbsp; 151925 |
| Flagstar Financial, Inc. (Banks) | &nbsp;&nbsp; 11940 | &nbsp;&nbsp; 137907 |
| Franklin Resources, Inc. (Capital Markets) | &nbsp;&nbsp; 2540 | &nbsp;&nbsp; 58750 |
| Global Payments, Inc. (Financial Services) | &nbsp;&nbsp; 960 | &nbsp;&nbsp; 79757 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 8950 | &nbsp;&nbsp; 274765 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. / The <br> (Insurance)<br>| &nbsp;&nbsp; 1928 | &nbsp;&nbsp; 350183 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. / The <br> (Insurance)<br>| &nbsp;&nbsp; 750 | &nbsp;&nbsp; 100042 |
| Huntington Bancshares, Inc. (Banks) | &nbsp;&nbsp; 2180 | &nbsp;&nbsp; 37649 |
| Independent Bank Corp. (Banks) | &nbsp;&nbsp; 3370 | &nbsp;&nbsp; 233103 |
| Invesco Ltd. (Capital Markets) | &nbsp;&nbsp; 15631 | &nbsp;&nbsp; 358575 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; 2979 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 1330 | &nbsp;&nbsp; 87009 |
| Kinsale Capital Group, Inc. (Insurance) | &nbsp;&nbsp; 624 | &nbsp;&nbsp; 265362 |
| Loews Corp. (Insurance) | &nbsp;&nbsp; 670 | &nbsp;&nbsp; 67261 |
| LPL Financial Holdings, Inc. (Capital Markets) | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 93153 |
| M&T Bank Corp. (Banks) | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 45453 |
| Markel Group, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 30 | &nbsp;&nbsp; 57341 |
| Morningstar, Inc. (Capital Markets) | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 44082 |
| MSCI, Inc. (Capital Markets) | &nbsp;&nbsp; 219 | &nbsp;&nbsp; 124263 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 99064 |
| NCR Atleos Corp. (Financial Services)<br> (a) | &nbsp;&nbsp; 7240 | &nbsp;&nbsp; 284604 |
| Northern Trust Corp. (Capital Markets) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 74030 |
| PJT Partners, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 1719 | &nbsp;&nbsp; 305518 |
| Popular, Inc. (Banks) | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 59695 |
| Principal Financial Group, Inc. (Insurance) | &nbsp;&nbsp; 590 | &nbsp;&nbsp; 48917 |
| Prudential Financial, Inc. (Insurance) | &nbsp;&nbsp; 980 | &nbsp;&nbsp; 101665 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 370 | &nbsp;&nbsp; 63862 |
| Regions Financial Corp. (Banks) | &nbsp;&nbsp; 2430 | &nbsp;&nbsp; 64079 |
| RenaissanceRe Holdings Ltd. (Insurance) | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 48247 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc. Class A <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 1850 | &nbsp;&nbsp; 264883 |
| Rocket Cos., Inc. Class A (Financial Services) | &nbsp;&nbsp; 3690 | &nbsp;&nbsp; 71512 |
| Ryan Specialty Holdings, Inc. (Insurance) | &nbsp;&nbsp; 830 | &nbsp;&nbsp; 46779 |
| SEI Investments Co. (Capital Markets) | &nbsp;&nbsp; 770 | &nbsp;&nbsp; 65334 |
| SoFi Technologies, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 2830 | &nbsp;&nbsp; 74769 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| State Street Corp. (Capital Markets) | &nbsp;&nbsp; 610 | &nbsp;&nbsp; $70766 |
| Stifel Financial Corp. (Capital Markets) | &nbsp;&nbsp; 4513 | &nbsp;&nbsp; 512090 |
| Synchrony Financial (Consumer Finance) | &nbsp;&nbsp; 1210 | &nbsp;&nbsp; 85970 |
| T. Rowe Price Group, Inc. (Capital Markets) | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 43109 |
| Texas Capital Bancshares, Inc. (Banks)<br> (a) | &nbsp;&nbsp; 2259 | &nbsp;&nbsp; 190953 |
| Toast, Inc. Class A (Financial Services)<br> (a) | &nbsp;&nbsp; 1160 | &nbsp;&nbsp; 42352 |
| TPG, Inc. (Capital Markets) | &nbsp;&nbsp; 4944 | &nbsp;&nbsp; 284033 |
| UMB Financial Corp. (Banks) | &nbsp;&nbsp; 2580 | &nbsp;&nbsp; 305343 |
| Voya Financial, Inc. (Financial Services) | &nbsp;&nbsp; 820 | &nbsp;&nbsp; 61336 |
| W. R. Berkley Corp. (Insurance) | &nbsp;&nbsp; 978 | &nbsp;&nbsp; 74934 |
| Walker & Dunlop, Inc. (Financial Services) | &nbsp;&nbsp; 2488 | &nbsp;&nbsp; 208047 |
| Webster Financial Corp. (Banks) | &nbsp;&nbsp; 3659 | &nbsp;&nbsp; 217491 |
| Western Alliance Bancorp (Banks) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 81517 |
| Willis Towers Watson PLC (Insurance) | &nbsp;&nbsp; 290 | &nbsp;&nbsp; 100180 |
| Wintrust Financial Corp. (Banks) | &nbsp;&nbsp; 1790 | &nbsp;&nbsp; 237068 |
| XP, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 44344 |
| Zions Bancorp N.A. (Banks) | &nbsp;&nbsp; 1381 | &nbsp;&nbsp; 78137 |
|  |  | &nbsp;&nbsp; 11153192 |
| **Health Care–12.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. (Life Sciences Tools <br> & Svs.)<br>| &nbsp;&nbsp; 720 | &nbsp;&nbsp; 92412 |
| Akero Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2647 | &nbsp;&nbsp; 125680 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 33809 |
| Alnylam Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 290 | &nbsp;&nbsp; 132240 |
| Apogee Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2351 | &nbsp;&nbsp; 93405 |
| ARS Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3887 | &nbsp;&nbsp; 39064 |
| Ascendis Pharma A/S – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 594 | &nbsp;&nbsp; 118093 |
| AtriCure, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 6064 | &nbsp;&nbsp; 213756 |
| Avantor, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 2380 | &nbsp;&nbsp; 29702 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 1700 | &nbsp;&nbsp; 38709 |
| Biogen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 70040 |
| BioMarin Pharmaceutical, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 640 | &nbsp;&nbsp; 34662 |
| Bio-Techne Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 2535 | &nbsp;&nbsp; 141022 |
| Bridgebio Pharma, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3376 | &nbsp;&nbsp; 175349 |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 8574 | &nbsp;&nbsp; 253447 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 640 | &nbsp;&nbsp; 100454 |
| Cencora, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 146889 |
| Centene Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 1610 | &nbsp;&nbsp; 57445 |
| CG oncology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3302 | &nbsp;&nbsp; 133005 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc. <br> (Life Sciences Tools & Svs.)<br>(a) | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 35986 |
| DaVita, Inc. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 73079 |
| Denali Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5717 | &nbsp;&nbsp; 83011 |
| Dexcom, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 1030 | &nbsp;&nbsp; 69309 |
| Elanco Animal Health, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 3820 | &nbsp;&nbsp; 76935 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 5316 | &nbsp;&nbsp; 675238 |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 13440 | &nbsp;&nbsp; 273773 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 96879 |
| Glaukos Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 2869 | &nbsp;&nbsp; 233967 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc. Class A (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 4570 | &nbsp;&nbsp; 261724 |
| Halozyme Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2585 | &nbsp;&nbsp; 189584 |
| Humana, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 93661 |
| ICON PLC (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 1750 | &nbsp;&nbsp; 306250 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 230 | &nbsp;&nbsp; 146945 |
| Illumina, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 450 | &nbsp;&nbsp; 42737 |
| Incyte Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 740 | &nbsp;&nbsp; 62759 |
| Insmed, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2808 | &nbsp;&nbsp; 404380 |
| Insulet Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 271 | &nbsp;&nbsp; 83666 |
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 2750 | &nbsp;&nbsp; 284157 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc. (Life Sciences Tools & <br> Svs.)<br>(a) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 104467 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 210 | &nbsp;&nbsp; 60283 |
| Legend Biotech Corp. – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 2828 | &nbsp;&nbsp; 92221 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Masimo Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 330 | &nbsp;&nbsp; $48692 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. (Life Sciences Tools & <br> Svs.)<br>(a) | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 77124 |
| Merus N.V. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1459 | &nbsp;&nbsp; 137365 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. (Life Sciences <br> Tools & Svs.)<br>(a) | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 25780 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 150 | &nbsp;&nbsp; 28704 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1550 | &nbsp;&nbsp; 249504 |
| Neurocrine Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2502 | &nbsp;&nbsp; 351231 |
| &nbsp;&nbsp;&nbsp; Newamsterdam Pharma Co. N.V. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 3701 | &nbsp;&nbsp; 105256 |
| Ocular Therapeutix, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 5738 | &nbsp;&nbsp; 67077 |
| Penumbra, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 2533 |
| &nbsp;&nbsp;&nbsp; PROCEPT BioRobotics Corp. (Health Care Equip. <br> & Supplies)<br>(a) | &nbsp;&nbsp; 5789 | &nbsp;&nbsp; 206609 |
| QIAGEN N.V. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 1489 | &nbsp;&nbsp; 66529 |
| Repligen Corp. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 1899 | &nbsp;&nbsp; 253839 |
| ResMed, Inc. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 95806 |
| Revvity, Inc. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 36813 |
| Rhythm Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1495 | &nbsp;&nbsp; 150980 |
| Roivant Sciences Ltd. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 75650 |
| Royalty Pharma PLC Class A (Pharmaceuticals) | &nbsp;&nbsp; 2130 | &nbsp;&nbsp; 75146 |
| STERIS PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 346 | &nbsp;&nbsp; 85614 |
| Tempus AI, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 56497 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 1870 | &nbsp;&nbsp; 379685 |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc. Class A (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 113206 |
| Viatris, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 5730 | &nbsp;&nbsp; 56727 |
| Waters Corp. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 33879 |
| &nbsp;&nbsp;&nbsp; Waystar Holding Corp. (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 5659 | &nbsp;&nbsp; 214589 |
| Xenon Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2599 | &nbsp;&nbsp; 104350 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 850 | &nbsp;&nbsp; 83725 |
|  |  | &nbsp;&nbsp; 8963104 |
| **Industrials–20.1%** |  |  |
| A. O. Smith Corp. (Building Products) | &nbsp;&nbsp; 1130 | &nbsp;&nbsp; 82953 |
| AAON, Inc. (Building Products) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 51392 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 360 | &nbsp;&nbsp; 49932 |
| AGCO Corp. (Machinery) | &nbsp;&nbsp; 520 | &nbsp;&nbsp; 55676 |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. <br> (Machinery)<br>| &nbsp;&nbsp; 740 | &nbsp;&nbsp; 62811 |
| Amentum Holdings, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 530 | &nbsp;&nbsp; 12694 |
| AMETEK, Inc. (Electrical Equip.) | &nbsp;&nbsp; 623 | &nbsp;&nbsp; 117124 |
| API Group Corp. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 1365 | &nbsp;&nbsp; 46915 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 1072 | &nbsp;&nbsp; 279846 |
| ArcBest Corp. (Ground Transportation) | &nbsp;&nbsp; 3299 | &nbsp;&nbsp; 230501 |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 1715 | &nbsp;&nbsp; 336157 |
| ATI, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 44737 |
| Axon Enterprise, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 136352 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 420 | &nbsp;&nbsp; 41979 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 347 | &nbsp;&nbsp; 82645 |
| Builders FirstSource, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 56988 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 1921 | &nbsp;&nbsp; 354175 |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. (Air Freight & <br> Logistics)<br>| &nbsp;&nbsp; 2694 | &nbsp;&nbsp; 356686 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. Class A <br> (Professional Svs.)<br>(a) | &nbsp;&nbsp; 640 | &nbsp;&nbsp; 319219 |
| Carlisle Cos., Inc. (Building Products) | &nbsp;&nbsp; 81 | &nbsp;&nbsp; 26646 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 170 | &nbsp;&nbsp; 41742 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 58055 |
| CNH Industrial N.V. (Machinery) | &nbsp;&nbsp; 23110 | &nbsp;&nbsp; 250743 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 801 | &nbsp;&nbsp; $660969 |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc. Class A (Trading Companies <br> & Distributors)<br>(a) | &nbsp;&nbsp; 4620 | &nbsp;&nbsp; 248695 |
| Crane Co. (Machinery) | &nbsp;&nbsp; 1805 | &nbsp;&nbsp; 332373 |
| Cummins, Inc. (Machinery) | &nbsp;&nbsp; 212 | &nbsp;&nbsp; 89542 |
| Curtiss-Wright Corp. (Aerospace & Defense) | &nbsp;&nbsp; 641 | &nbsp;&nbsp; 348025 |
| Delta Air Lines, Inc. (Passenger Airlines) | &nbsp;&nbsp; 1630 | &nbsp;&nbsp; 92503 |
| Dover Corp. (Machinery) | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 50049 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 72 | &nbsp;&nbsp; 46767 |
| Equifax, Inc. (Professional Svs.) | &nbsp;&nbsp; 290 | &nbsp;&nbsp; 74394 |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. <br> (Air Freight & Logistics)<br>| &nbsp;&nbsp; 540 | &nbsp;&nbsp; 66199 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 2940 | &nbsp;&nbsp; 144178 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. (Trading Companies <br> & Distributors)<br>| &nbsp;&nbsp; 460 | &nbsp;&nbsp; 103307 |
| First Advantage Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 14110 | &nbsp;&nbsp; 217153 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 53140 |
| Fluor Corp. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 6390 | &nbsp;&nbsp; 268827 |
| Fortive Corp. (Machinery) | &nbsp;&nbsp; 1010 | &nbsp;&nbsp; 49480 |
| FTI Consulting, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 1402 | &nbsp;&nbsp; 226633 |
| GATX Corp. (Trading Companies & Distributors) | &nbsp;&nbsp; 1470 | &nbsp;&nbsp; 256956 |
| Generac Holdings, Inc. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 41850 |
| Gibraltar Industries, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 1104 | &nbsp;&nbsp; 69331 |
| &nbsp;&nbsp;&nbsp; Granite Construction, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 3219 | &nbsp;&nbsp; 352963 |
| GXO Logistics, Inc. (Air Freight & Logistics)<br> (a) | &nbsp;&nbsp; 5060 | &nbsp;&nbsp; 267623 |
| HEICO Corp. (Aerospace & Defense) | &nbsp;&nbsp; 140 | &nbsp;&nbsp; 45195 |
| HEICO Corp. Class A (Aerospace & Defense) | &nbsp;&nbsp; 190 | &nbsp;&nbsp; 48277 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 1040 | &nbsp;&nbsp; 121326 |
| Hexcel Corp. (Aerospace & Defense) | &nbsp;&nbsp; 4190 | &nbsp;&nbsp; 262713 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 196230 |
| Hubbell, Inc. (Electrical Equip.) | &nbsp;&nbsp; 180 | &nbsp;&nbsp; 77456 |
| IDEX Corp. (Machinery) | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 56966 |
| Ingersoll Rand, Inc. (Machinery) | &nbsp;&nbsp; 952 | &nbsp;&nbsp; 78654 |
| ITT, Inc. (Machinery) | &nbsp;&nbsp; 1991 | &nbsp;&nbsp; 355911 |
| &nbsp;&nbsp;&nbsp; J.B. Hunt Transport Services, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 310 | &nbsp;&nbsp; 41593 |
| Jacobs Solutions, Inc. (Professional Svs.) | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 74930 |
| JBT Marel Corp. (Machinery) | &nbsp;&nbsp; 1874 | &nbsp;&nbsp; 263203 |
| Kirby Corp. (Marine Transportation)<br> (a) | &nbsp;&nbsp; 3522 | &nbsp;&nbsp; 293911 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. <br> (Aerospace & Defense)<br>(a) | &nbsp;&nbsp; 5303 | &nbsp;&nbsp; 484535 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 510 | &nbsp;&nbsp; 155759 |
| Landstar System, Inc. (Ground Transportation) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 37994 |
| Leidos Holdings, Inc. (Professional Svs.) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 75584 |
| Lennox International, Inc. (Building Products) | &nbsp;&nbsp; 110 | &nbsp;&nbsp; 58230 |
| Lincoln Electric Holdings, Inc. (Machinery) | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 56599 |
| Loar Holdings, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 3250 | &nbsp;&nbsp; 260000 |
| Lyft, Inc. Class A (Ground Transportation)<br> (a) | &nbsp;&nbsp; 1370 | &nbsp;&nbsp; 30154 |
| Masco Corp. (Building Products) | &nbsp;&nbsp; 710 | &nbsp;&nbsp; 49977 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 520 | &nbsp;&nbsp; 110661 |
| MillerKnoll, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 11558 | &nbsp;&nbsp; 205039 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc. Class A (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 680 | &nbsp;&nbsp; 62655 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 470 | &nbsp;&nbsp; 66167 |
| Oshkosh Corp. (Machinery) | &nbsp;&nbsp; 2730 | &nbsp;&nbsp; 354081 |
| Otis Worldwide Corp. (Machinery) | &nbsp;&nbsp; 1080 | &nbsp;&nbsp; 98744 |
| Owens Corning (Building Products) | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 55169 |
| Parsons Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 58044 |
| Paychex, Inc. (Professional Svs.) | &nbsp;&nbsp; 840 | &nbsp;&nbsp; 106478 |
| Paylocity Holding Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 400 | &nbsp;&nbsp; 63708 |
| Pentair PLC (Machinery) | &nbsp;&nbsp; 2872 | &nbsp;&nbsp; 318103 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 390 | &nbsp;&nbsp; 161624 |
| RB Global, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 50929 |
| Regal Rexnord Corp. (Electrical Equip.) | &nbsp;&nbsp; 1901 | &nbsp;&nbsp; 272679 |
| Rocket Lab Corp. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 9489 | &nbsp;&nbsp; 454618 |
| Rockwell Automation, Inc. (Electrical Equip.) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 94373 |
| Rollins, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 960 | &nbsp;&nbsp; 56390 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC <br> (Electrical Equip.)<br>| &nbsp;&nbsp; 1321 | &nbsp;&nbsp; $40357 |
| Snap-on, Inc. (Machinery) | &nbsp;&nbsp; 210 | &nbsp;&nbsp; 72771 |
| Southwest Airlines Co. (Passenger Airlines) | &nbsp;&nbsp; 2410 | &nbsp;&nbsp; 76903 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 570 | &nbsp;&nbsp; 50593 |
| StandardAero, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 8580 | &nbsp;&nbsp; 234148 |
| &nbsp;&nbsp;&nbsp; Star Bulk Carriers Corp. <br> (Marine Transportation)<br>| &nbsp;&nbsp; 12180 | &nbsp;&nbsp; 226426 |
| Toro Co. / The (Machinery) | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 53340 |
| TransUnion (Professional Svs.) | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 838 |
| Trex Co., Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 31519 |
| &nbsp;&nbsp;&nbsp; U-Haul Holding Co. NVS <br> (Ground Transportation)<br>| &nbsp;&nbsp; 840 | &nbsp;&nbsp; 42756 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. <br> (Passenger Airlines)<br>(a) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 29915 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 161 | &nbsp;&nbsp; 153700 |
| Veralto Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 750 | &nbsp;&nbsp; 79958 |
| Verisk Analytics, Inc. (Professional Svs.) | &nbsp;&nbsp; 449 | &nbsp;&nbsp; 112928 |
| Vertiv Holdings Co. Class A (Electrical Equip.) | &nbsp;&nbsp; 1090 | &nbsp;&nbsp; 164437 |
| &nbsp;&nbsp;&nbsp; W.W. Grainger, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 120 | &nbsp;&nbsp; 114355 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 30071 |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 7672 | &nbsp;&nbsp; 161956 |
| Woodward, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 80867 |
| Xylem, Inc. (Machinery) | &nbsp;&nbsp; 730 | &nbsp;&nbsp; 107675 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. <br> (Building Products)<br>| &nbsp;&nbsp; 5714 | &nbsp;&nbsp; 268729 |
|  |  | &nbsp;&nbsp; 15005826 |
| **Information Technology–15.3%** |  |  |
| ACI Worldwide, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 263850 |
| Amdocs Ltd. (IT Svs.) | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 82050 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 1450 | &nbsp;&nbsp; 41180 |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. (Electronic Equip., Instr. <br> & Comp.)<br>(a) | &nbsp;&nbsp; 440 | &nbsp;&nbsp; 53240 |
| Astera Labs, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 294 | &nbsp;&nbsp; 57565 |
| Avnet, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 3760 | &nbsp;&nbsp; 196573 |
| Bentley Systems, Inc. Class B (Software) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 56628 |
| BILL Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 490 | &nbsp;&nbsp; 25955 |
| Calix, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 3300 | &nbsp;&nbsp; 202521 |
| &nbsp;&nbsp;&nbsp; CCC Intelligent Solutions Holdings, Inc. <br> (Software)<br>(a) | &nbsp;&nbsp; 4820 | &nbsp;&nbsp; 43910 |
| CDW Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 350 | &nbsp;&nbsp; 55748 |
| &nbsp;&nbsp;&nbsp; Celestica, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 825 | &nbsp;&nbsp; 203263 |
| Circle Internet Group, Inc. (Software)<br> (a) | &nbsp;&nbsp; 111 | &nbsp;&nbsp; 14716 |
| Cloudflare, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 193131 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Class A <br> (IT Svs.)<br>| &nbsp;&nbsp; 1710 | &nbsp;&nbsp; 114690 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 2317 | &nbsp;&nbsp; 249587 |
| Corning, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 164060 |
| &nbsp;&nbsp;&nbsp; Crane NXT Co. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 4980 | &nbsp;&nbsp; 334009 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding Ltd. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 2628 | &nbsp;&nbsp; 382663 |
| CyberArk Software Ltd. (Software)<br> (a) | &nbsp;&nbsp; 478 | &nbsp;&nbsp; 230946 |
| Datadog, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 924 | &nbsp;&nbsp; 131578 |
| Entegris, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 680 | &nbsp;&nbsp; 62873 |
| F5, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 712 | &nbsp;&nbsp; 230111 |
| Fair Isaac Corp. (Software)<br> (a) | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 86799 |
| First Solar, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 81596 |
| Flex Ltd. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 970 | &nbsp;&nbsp; 56231 |
| FormFactor, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 4742 | &nbsp;&nbsp; 172704 |
| Gartner, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 139 | &nbsp;&nbsp; 36539 |
| &nbsp;&nbsp;&nbsp; GLOBALFOUNDRIES, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 860 | &nbsp;&nbsp; 30822 |
| Globant SA (IT Svs.)<br> (a) | &nbsp;&nbsp; 2420 | &nbsp;&nbsp; 138860 |
| GoDaddy, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 490 | &nbsp;&nbsp; 67047 |
| Guidewire Software, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2194 | &nbsp;&nbsp; 504313 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. (Tech. <br> Hardware, Storage & Periph.)<br>| &nbsp;&nbsp; 5300 | &nbsp;&nbsp; $130168 |
| HP, Inc. (Tech. Hardware, Storage & Periph.) | &nbsp;&nbsp; 2390 | &nbsp;&nbsp; 65080 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 724 | &nbsp;&nbsp; 338687 |
| Informatica, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1900 | &nbsp;&nbsp; 47196 |
| &nbsp;&nbsp;&nbsp; IPG Photonics Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 3180 | &nbsp;&nbsp; 251824 |
| Jabil, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 58636 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 380 | &nbsp;&nbsp; 66470 |
| Klaviyo, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 9359 | &nbsp;&nbsp; 259151 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 1563 | &nbsp;&nbsp; 254316 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 2554 | &nbsp;&nbsp; 317947 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 1376 | &nbsp;&nbsp; 88367 |
| Monday.com Ltd. (Software)<br> (a) | &nbsp;&nbsp; 759 | &nbsp;&nbsp; 147011 |
| MongoDB, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 1166 | &nbsp;&nbsp; 361903 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. <br> (Semiconductors & Equip.)<br>| &nbsp;&nbsp; 122 | &nbsp;&nbsp; 112318 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 640 | &nbsp;&nbsp; 75814 |
| Nice Ltd. – ADR (Software)<br> (a) | &nbsp;&nbsp; 1210 | &nbsp;&nbsp; 175184 |
| Nutanix, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 4973 | &nbsp;&nbsp; 369941 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 5424 | &nbsp;&nbsp; 267457 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 370 | &nbsp;&nbsp; 47811 |
| Procore Technologies, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5863 | &nbsp;&nbsp; 427530 |
| PTC, Inc. (Software)<br> (a) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 62936 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc. Class A (Tech. Hardware, <br> Storage & Periph.)<br>(a) | &nbsp;&nbsp; 850 | &nbsp;&nbsp; 71238 |
| Qorvo, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 470 | &nbsp;&nbsp; 42808 |
| Ralliant Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 336 | &nbsp;&nbsp; 14693 |
| Rambus, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2727 | &nbsp;&nbsp; 284153 |
| SailPoint, Inc. (Software)<br> (a) | &nbsp;&nbsp; 11157 | &nbsp;&nbsp; 246347 |
| Samsara, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 5811 | &nbsp;&nbsp; 216460 |
| Semtech Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 5880 | &nbsp;&nbsp; 420126 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 680 | &nbsp;&nbsp; 52346 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. (Tech. Hardware, <br> Storage & Periph.)<br>(a) | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 71910 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 2158 | &nbsp;&nbsp; 353372 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 67395 |
| Teradyne, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 2923 | &nbsp;&nbsp; 402322 |
| Trimble, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 610 | &nbsp;&nbsp; 49807 |
| Tyler Technologies, Inc. (Software)<br> (a) | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 52316 |
| Ubiquiti, Inc. (Communications Equip.) | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 79270 |
| Unity Software, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2300 | &nbsp;&nbsp; 92092 |
| VeriSign, Inc. (IT Svs.) | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 61505 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. (Tech. Hardware, Storage <br> & Periph.)<br>| &nbsp;&nbsp; 930 | &nbsp;&nbsp; 111656 |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Class A (Electronic <br> Equip., Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 220 | &nbsp;&nbsp; 65375 |
| Zoom Communications, Inc. (Software)<br> (a) | &nbsp;&nbsp; 870 | &nbsp;&nbsp; 71775 |
| Zscaler, Inc. (Software)<br> (a) | &nbsp;&nbsp; 250 | &nbsp;&nbsp; 74915 |
|  |  | &nbsp;&nbsp; 11393386 |
| **Materials–3.9%** |  |  |
| Alcoa Corp. (Metals & Mining) | &nbsp;&nbsp; 2283 | &nbsp;&nbsp; 75088 |
| Amcor PLC (Containers & Packaging) | &nbsp;&nbsp; 6490 | &nbsp;&nbsp; 53088 |
| Anglogold Ashanti PLC (Metals & Mining) | &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 90726 |
| &nbsp;&nbsp;&nbsp; Avery Dennison Corp. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 260 | &nbsp;&nbsp; 42164 |
| Avient Corp. (Chemicals) | &nbsp;&nbsp; 6819 | &nbsp;&nbsp; 224686 |
| Ball Corp. (Containers & Packaging) | &nbsp;&nbsp; 990 | &nbsp;&nbsp; 49916 |
| CF Industries Holdings, Inc. (Chemicals) | &nbsp;&nbsp; 580 | &nbsp;&nbsp; 52026 |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp; 1813 | &nbsp;&nbsp; 122613 |
| Crown Holdings, Inc. (Containers & Packaging) | &nbsp;&nbsp; 630 | &nbsp;&nbsp; 60852 |
| Dow, Inc. (Chemicals) | &nbsp;&nbsp; 2130 | &nbsp;&nbsp; 48841 |
| DuPont de Nemours, Inc. (Chemicals) | &nbsp;&nbsp; 1132 | &nbsp;&nbsp; 88183 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Materials (continued)** |  |  |
| Eastman Chemical Co. (Chemicals) | &nbsp;&nbsp; 660 | &nbsp;&nbsp; $41613 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 14130 | &nbsp;&nbsp; 276524 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. <br> (Chemicals)<br>| &nbsp;&nbsp; 719 | &nbsp;&nbsp; 44247 |
| &nbsp;&nbsp;&nbsp; International Paper Co. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 1307 | &nbsp;&nbsp; 60645 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries N.V. Class A <br> (Chemicals)<br>| &nbsp;&nbsp; 760 | &nbsp;&nbsp; 37270 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. <br> (Construction Materials)<br>| &nbsp;&nbsp; 150 | &nbsp;&nbsp; 94542 |
| Nucor Corp. (Metals & Mining) | &nbsp;&nbsp; 570 | &nbsp;&nbsp; 77195 |
| O-I Glass, Inc. (Containers & Packaging)<br> (a) | &nbsp;&nbsp; 16470 | &nbsp;&nbsp; 213616 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 240 | &nbsp;&nbsp; 52303 |
| PPG Industries, Inc. (Chemicals) | &nbsp;&nbsp; 580 | &nbsp;&nbsp; 60964 |
| Reliance, Inc. (Metals & Mining) | &nbsp;&nbsp; 1357 | &nbsp;&nbsp; 381086 |
| Royal Gold, Inc. (Metals & Mining) | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 52151 |
| RPM International, Inc. (Chemicals) | &nbsp;&nbsp; 3185 | &nbsp;&nbsp; 375448 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock PLC (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 1503 | &nbsp;&nbsp; 63983 |
| Steel Dynamics, Inc. (Metals & Mining) | &nbsp;&nbsp; 480 | &nbsp;&nbsp; 66926 |
| Vulcan Materials Co. (Construction Materials) | &nbsp;&nbsp; 320 | &nbsp;&nbsp; 98438 |
| Westlake Corp. (Chemicals) | &nbsp;&nbsp; 550 | &nbsp;&nbsp; 42383 |
|  |  | &nbsp;&nbsp; 2947517 |
| **Real Estate–5.5%** |  |  |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. (Health <br> Care REITs)<br>| &nbsp;&nbsp; 550 | &nbsp;&nbsp; 45837 |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 7070 | &nbsp;&nbsp; 297011 |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent Class A <br> (Residential REITs)<br>| &nbsp;&nbsp; 2060 | &nbsp;&nbsp; 68495 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 390 | &nbsp;&nbsp; 75336 |
| Brixmor Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 2660 | &nbsp;&nbsp; 73629 |
| Broadstone Net Lease, Inc. (Diversified REITs) | &nbsp;&nbsp; 7631 | &nbsp;&nbsp; 136366 |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc. Class A (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 710 | &nbsp;&nbsp; 111868 |
| COPT Defense Properties (Office REITs) | &nbsp;&nbsp; 10440 | &nbsp;&nbsp; 303386 |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 1060 | &nbsp;&nbsp; 89432 |
| Crown Castle, Inc. (Specialized REITs) | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 106139 |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 4351 | &nbsp;&nbsp; 176912 |
| Digital Realty Trust, Inc. (Specialized REITs) | &nbsp;&nbsp; 860 | &nbsp;&nbsp; 148677 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 66770 |
| Equity Residential (Residential REITs) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 60846 |
| Essex Property Trust, Inc. (Residential REITs) | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 72268 |
| Extra Space Storage, Inc. (Specialized REITs) | &nbsp;&nbsp; 569 | &nbsp;&nbsp; 80195 |
| &nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. <br> (Specialized REITs)<br>| &nbsp;&nbsp; 10 | &nbsp;&nbsp; 466 |
| Healthpeak Properties, Inc. (Health Care REITs) | &nbsp;&nbsp; 2630 | &nbsp;&nbsp; 50365 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 15520 | &nbsp;&nbsp; 254373 |
| Invitation Homes, Inc. (Residential REITs) | &nbsp;&nbsp; 1780 | &nbsp;&nbsp; 52207 |
| Iron Mountain, Inc. (Specialized REITs) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 95824 |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 1206 | &nbsp;&nbsp; 359726 |
| Kimco Realty Corp. (Retail REITs) | &nbsp;&nbsp; 3630 | &nbsp;&nbsp; 79316 |
| Lineage, Inc. (Industrial REITs) | &nbsp;&nbsp; 1139 | &nbsp;&nbsp; 44011 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 480 | &nbsp;&nbsp; 67070 |
| Realty Income Corp. (Retail REITs) | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 143464 |
| Regency Centers Corp. (Retail REITs) | &nbsp;&nbsp; 950 | &nbsp;&nbsp; 69255 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. (Hotel & <br> Resort REITs)<br>| &nbsp;&nbsp; 1431 | &nbsp;&nbsp; 128203 |
| SBA Communications Corp. (Specialized REITs) | &nbsp;&nbsp; 280 | &nbsp;&nbsp; 54138 |
| Simon Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 838 | &nbsp;&nbsp; 157267 |
| STAG Industrial, Inc. (Industrial REITs) | &nbsp;&nbsp; 5670 | &nbsp;&nbsp; 200094 |
| Sun Communities, Inc. (Residential REITs) | &nbsp;&nbsp; 420 | &nbsp;&nbsp; 54180 |
| Ventas, Inc. (Health Care REITs) | &nbsp;&nbsp; 1180 | &nbsp;&nbsp; 82588 |
| VICI Properties, Inc. (Specialized REITs) | &nbsp;&nbsp; 3360 | &nbsp;&nbsp; 109570 |
| W.P. Carey, Inc. (Diversified REITs) | &nbsp;&nbsp; 1020 | &nbsp;&nbsp; 68921 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Mid Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate (continued)** |  |  |
| Weyerhaeuser Co. (Specialized REITs) | &nbsp;&nbsp; 2040 | &nbsp;&nbsp; $50572 |
| &nbsp;&nbsp;&nbsp; Zillow Group, Inc. Class C (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 645 | &nbsp;&nbsp; 49697 |
|  |  | &nbsp;&nbsp; 4084474 |
| **Utilities–3.9%** |  |  |
| Ameren Corp. (Multi-Utilities) | &nbsp;&nbsp; 720 | &nbsp;&nbsp; 75154 |
| &nbsp;&nbsp;&nbsp; American Water Works Co., Inc. <br> (Water Utilities)<br>| &nbsp;&nbsp; 510 | &nbsp;&nbsp; 70987 |
| Atmos Energy Corp. (Gas Utilities) | &nbsp;&nbsp; 490 | &nbsp;&nbsp; 83668 |
| CenterPoint Energy, Inc. (Multi-Utilities) | &nbsp;&nbsp; 1940 | &nbsp;&nbsp; 75272 |
| Chesapeake Utilities Corp. (Gas Utilities) | &nbsp;&nbsp; 1045 | &nbsp;&nbsp; 140751 |
| CMS Energy Corp. (Multi-Utilities) | &nbsp;&nbsp; 880 | &nbsp;&nbsp; 64469 |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 810 | &nbsp;&nbsp; 81421 |
| DTE Energy Co. (Multi-Utilities) | &nbsp;&nbsp; 560 | &nbsp;&nbsp; 79201 |
| Edison International (Electric Utilities) | &nbsp;&nbsp; 770 | &nbsp;&nbsp; 42566 |
| Entergy Corp. (Electric Utilities) | &nbsp;&nbsp; 860 | &nbsp;&nbsp; 80143 |
| Evergy, Inc. (Electric Utilities) | &nbsp;&nbsp; 1160 | &nbsp;&nbsp; 88183 |
| Eversource Energy (Electric Utilities) | &nbsp;&nbsp; 940 | &nbsp;&nbsp; 66872 |
| Exelon Corp. (Electric Utilities) | &nbsp;&nbsp; 1940 | &nbsp;&nbsp; 87319 |
| FirstEnergy Corp. (Electric Utilities) | &nbsp;&nbsp; 1520 | &nbsp;&nbsp; 69646 |
| IDACORP, Inc. (Electric Utilities) | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 446667 |
| NiSource, Inc. (Multi-Utilities) | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 51960 |
| NRG Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 1948 | &nbsp;&nbsp; 315479 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Utilities (continued)** |  |  |
| OGE Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 1760 | &nbsp;&nbsp; $81435 |
| ONE Gas, Inc. (Gas Utilities) | &nbsp;&nbsp; 2940 | &nbsp;&nbsp; 237964 |
| PG&E Corp. (Electric Utilities) | &nbsp;&nbsp; 5776 | &nbsp;&nbsp; 87102 |
| PPL Corp. (Electric Utilities) | &nbsp;&nbsp; 1290 | &nbsp;&nbsp; 47936 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. <br> (Multi-Utilities)<br>| &nbsp;&nbsp; 1170 | &nbsp;&nbsp; 97648 |
| UGI Corp. (Gas Utilities) | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 49890 |
| Vistra Corp. (Ind. Power & Renewable Elec.) | &nbsp;&nbsp; 770 | &nbsp;&nbsp; 150858 |
| WEC Energy Group, Inc. (Multi-Utilities) | &nbsp;&nbsp; 930 | &nbsp;&nbsp; 106569 |
| Xcel Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 1680 | &nbsp;&nbsp; 135492 |
|  |  | &nbsp;&nbsp; 2914652 |
| **Total Common Stocks (Cost $67,367,981)** |  | &nbsp;&nbsp; $73863165 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–0.3%** | **Shares** | **Value** |
| iShares Russell Mid-Cap ETF  | &nbsp;&nbsp; 2557 | &nbsp;&nbsp; $246878 |
| **Total Exchange Traded Funds (Cost $243,765)** |  | &nbsp;&nbsp; $246878 |
| **Total Investments – 99.2% (Cost $67,611,746)**<br> (b) |  | &nbsp;&nbsp; $74110043 |
| **Other Assets in Excess of Liabilities – 0.8%** |  | &nbsp;&nbsp; 623809 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $74733852 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; ADR: | American Depositary Receipts |
| &nbsp;&nbsp;&nbsp;&nbsp; ETF: | Exchange Traded Fund |
| &nbsp;&nbsp;&nbsp;&nbsp; NVS: | Non-Voting Shares |
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Footnotes: <br> (a) Non-income producing security. <br> (b) Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of Investments.

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–100.0%** | **Shares** | **Value** |
| **Communication Services–10.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 122588 | &nbsp;&nbsp; $29801143 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 98450 | &nbsp;&nbsp; 23977497 |
| AT&T, Inc. (Diversified Telecom. Svs.) | &nbsp;&nbsp; 150835 | &nbsp;&nbsp; 4259580 |
| Charter Communications, Inc. Class A (Media)<br> (a) | &nbsp;&nbsp; 1971 | &nbsp;&nbsp; 542232 |
| Comcast Corp. Class A (Media) | &nbsp;&nbsp; 77382 | &nbsp;&nbsp; 2431342 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 4778 | &nbsp;&nbsp; 963723 |
| Fox Corp. Class A (Media) | &nbsp;&nbsp; 4455 | &nbsp;&nbsp; 280932 |
| Fox Corp. Class B (Media) | &nbsp;&nbsp; 3128 | &nbsp;&nbsp; 179203 |
| Interpublic Group of Cos., Inc. / The (Media) | &nbsp;&nbsp; 7771 | &nbsp;&nbsp; 216889 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 3347 | &nbsp;&nbsp; 546900 |
| Match Group, Inc. (Interactive Media & Svs.) | &nbsp;&nbsp; 5105 | &nbsp;&nbsp; 180309 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 45716 | &nbsp;&nbsp; 33572916 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 8956 | &nbsp;&nbsp; 10737528 |
| News Corp. Class A (Media) | &nbsp;&nbsp; 7987 | &nbsp;&nbsp; 245281 |
| News Corp. Class B (Media) | &nbsp;&nbsp; 2360 | &nbsp;&nbsp; 81538 |
| Omnicom Group, Inc. (Media) | &nbsp;&nbsp; 4110 | &nbsp;&nbsp; 335088 |
| Paramount Skydance Corp. Class B (Media) | &nbsp;&nbsp; 6551 | &nbsp;&nbsp; 123945 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 3679 | &nbsp;&nbsp; 950506 |
| TKO Group Holdings, Inc. (Entertainment) | &nbsp;&nbsp; 1464 | &nbsp;&nbsp; 295669 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 10201 | &nbsp;&nbsp; 2441915 |
| Trade Desk, Inc. / The Class A (Media)<br> (a) | &nbsp;&nbsp; 9456 | &nbsp;&nbsp; 463439 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. (Diversified <br> Telecom. Svs.)<br>| &nbsp;&nbsp; 88909 | &nbsp;&nbsp; 3907551 |
| Walt Disney Co. / The (Entertainment) | &nbsp;&nbsp; 37883 | &nbsp;&nbsp; 4337604 |
| Warner Bros. Discovery, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 51765 | &nbsp;&nbsp; 1010970 |
|  |  | &nbsp;&nbsp; 121883700 |
| **Consumer Discretionary–10.5%** |  |  |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 9104 | &nbsp;&nbsp; 1105408 |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 204548 | &nbsp;&nbsp; 44912604 |
| Aptiv PLC (Automobile Components)<br> (a) | &nbsp;&nbsp; 4620 | &nbsp;&nbsp; 398336 |
| AutoZone, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 351 | &nbsp;&nbsp; 1505874 |
| Best Buy Co., Inc. (Specialty Retail) | &nbsp;&nbsp; 4170 | &nbsp;&nbsp; 315335 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 683 | &nbsp;&nbsp; 3687701 |
| CarMax, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 3184 | &nbsp;&nbsp; 142866 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | &nbsp;&nbsp; 23036 | &nbsp;&nbsp; 665971 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 28076 | &nbsp;&nbsp; 1100298 |
| D.R. Horton, Inc. (Household Durables) | &nbsp;&nbsp; 5753 | &nbsp;&nbsp; 974961 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 2483 | &nbsp;&nbsp; 472664 |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 3147 | &nbsp;&nbsp; 319011 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 663 | &nbsp;&nbsp; 286224 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 7795 | &nbsp;&nbsp; 2120162 |
| eBay, Inc. (Broadline Retail) | &nbsp;&nbsp; 9696 | &nbsp;&nbsp; 881851 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 2508 | &nbsp;&nbsp; 536085 |
| Ford Motor Co. (Automobiles) | &nbsp;&nbsp; 81654 | &nbsp;&nbsp; 976582 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 3472 | &nbsp;&nbsp; 854876 |
| General Motors Co. (Automobiles) | &nbsp;&nbsp; 19946 | &nbsp;&nbsp; 1216108 |
| Genuine Parts Co. (Distributors) | &nbsp;&nbsp; 2951 | &nbsp;&nbsp; 409009 |
| Hasbro, Inc. (Leisure Products) | &nbsp;&nbsp; 2827 | &nbsp;&nbsp; 214428 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 4928 | &nbsp;&nbsp; 1278520 |
| Home Depot, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 20970 | &nbsp;&nbsp; 8496834 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 6554 | &nbsp;&nbsp; 352540 |
| Lennar Corp. Class A (Household Durables) | &nbsp;&nbsp; 4829 | &nbsp;&nbsp; 608647 |
| LKQ Corp. (Distributors) | &nbsp;&nbsp; 5459 | &nbsp;&nbsp; 166718 |
| Lowe's Cos., Inc. (Specialty Retail) | &nbsp;&nbsp; 11785 | &nbsp;&nbsp; 2961688 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 2314 | &nbsp;&nbsp; 411730 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 4724 | &nbsp;&nbsp; 1230319 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 15043 | &nbsp;&nbsp; 4571417 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Discretionary (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; MGM Resorts International (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 4331 | &nbsp;&nbsp; $150112 |
| Mohawk Industries, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 1107 | &nbsp;&nbsp; 142714 |
| &nbsp;&nbsp;&nbsp; NIKE, Inc. Class B (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 24911 | &nbsp;&nbsp; 1737044 |
| &nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 9589 | &nbsp;&nbsp; 236177 |
| NVR, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 61 | &nbsp;&nbsp; 490114 |
| O'Reilly Automotive, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 17858 | &nbsp;&nbsp; 1925271 |
| Pool Corp. (Distributors) | &nbsp;&nbsp; 697 | &nbsp;&nbsp; 216119 |
| PulteGroup, Inc. (Household Durables) | &nbsp;&nbsp; 4186 | &nbsp;&nbsp; 553096 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 821 | &nbsp;&nbsp; 257433 |
| Ross Stores, Inc. (Specialty Retail) | &nbsp;&nbsp; 6836 | &nbsp;&nbsp; 1041738 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 5314 | &nbsp;&nbsp; 1719504 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 23913 | &nbsp;&nbsp; 2023040 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 4416 | &nbsp;&nbsp; 499980 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 59146 | &nbsp;&nbsp; 26303409 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 23505 | &nbsp;&nbsp; 3397413 |
| Tractor Supply Co. (Specialty Retail) | &nbsp;&nbsp; 11244 | &nbsp;&nbsp; 639446 |
| Ulta Beauty, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 954 | &nbsp;&nbsp; 521600 |
| Williams-Sonoma, Inc. (Specialty Retail) | &nbsp;&nbsp; 2610 | &nbsp;&nbsp; 510125 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Ltd. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 1791 | &nbsp;&nbsp; 229732 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 5889 | &nbsp;&nbsp; 895128 |
|  |  | &nbsp;&nbsp; 126663962 |
| **Consumer Staples–4.9%** |  |  |
| Altria Group, Inc. (Tobacco) | &nbsp;&nbsp; 35363 | &nbsp;&nbsp; 2336080 |
| Archer-Daniels-Midland Co. (Food Products) | &nbsp;&nbsp; 10194 | &nbsp;&nbsp; 608990 |
| Brown-Forman Corp. Class B (Beverages) | &nbsp;&nbsp; 3736 | &nbsp;&nbsp; 101171 |
| Bunge Global SA (Food Products) | &nbsp;&nbsp; 2971 | &nbsp;&nbsp; 241394 |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. <br> (Household Products)<br>| &nbsp;&nbsp; 5169 | &nbsp;&nbsp; 452959 |
| Clorox Co. / The (Household Products) | &nbsp;&nbsp; 2595 | &nbsp;&nbsp; 319963 |
| Coca-Cola Co. / The (Beverages) | &nbsp;&nbsp; 81734 | &nbsp;&nbsp; 5420599 |
| Colgate-Palmolive Co. (Household Products) | &nbsp;&nbsp; 16923 | &nbsp;&nbsp; 1352825 |
| Conagra Brands, Inc. (Food Products) | &nbsp;&nbsp; 10164 | &nbsp;&nbsp; 186103 |
| Constellation Brands, Inc. Class A (Beverages) | &nbsp;&nbsp; 3029 | &nbsp;&nbsp; 407915 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 9350 | &nbsp;&nbsp; 8654640 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 4669 | &nbsp;&nbsp; 482541 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 4118 | &nbsp;&nbsp; 388616 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc. / The Class A (Personal <br> Care Products)<br>| &nbsp;&nbsp; 4969 | &nbsp;&nbsp; 437868 |
| General Mills, Inc. (Food Products) | &nbsp;&nbsp; 11345 | &nbsp;&nbsp; 572015 |
| Hershey Co. / The (Food Products) | &nbsp;&nbsp; 3143 | &nbsp;&nbsp; 587898 |
| Hormel Foods Corp. (Food Products) | &nbsp;&nbsp; 6184 | &nbsp;&nbsp; 152992 |
| J. M. Smucker Co. / The (Food Products) | &nbsp;&nbsp; 2264 | &nbsp;&nbsp; 245870 |
| Kellanova (Food Products) | &nbsp;&nbsp; 5705 | &nbsp;&nbsp; 467924 |
| Kenvue, Inc. (Personal Care Products) | &nbsp;&nbsp; 40718 | &nbsp;&nbsp; 660853 |
| Keurig Dr Pepper, Inc. (Beverages) | &nbsp;&nbsp; 28823 | &nbsp;&nbsp; 735275 |
| Kimberly-Clark Corp. (Household Products) | &nbsp;&nbsp; 6919 | &nbsp;&nbsp; 860308 |
| Kraft Heinz Co. / The (Food Products) | &nbsp;&nbsp; 18081 | &nbsp;&nbsp; 470829 |
| &nbsp;&nbsp;&nbsp; Kroger Co. / The (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 12674 | &nbsp;&nbsp; 854354 |
| Lamb Weston Holdings, Inc. (Food Products) | &nbsp;&nbsp; 2957 | &nbsp;&nbsp; 171743 |
| McCormick & Co., Inc. (Food Products) | &nbsp;&nbsp; 5369 | &nbsp;&nbsp; 359240 |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co. Class B <br> (Beverages)<br>| &nbsp;&nbsp; 3594 | &nbsp;&nbsp; 162628 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc. Class A <br> (Food Products)<br>| &nbsp;&nbsp; 27175 | &nbsp;&nbsp; 1697622 |
| Monster Beverage Corp. (Beverages)<br> (a) | &nbsp;&nbsp; 14890 | &nbsp;&nbsp; 1002246 |
| PepsiCo, Inc. (Beverages) | &nbsp;&nbsp; 28838 | &nbsp;&nbsp; 4050009 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 32798 | &nbsp;&nbsp; 5319836 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. / The <br> (Household Products)<br>| &nbsp;&nbsp; 49409 | &nbsp;&nbsp; 7591693 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 9947 | &nbsp;&nbsp; 819036 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Staples (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Target Corp. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 9641 | &nbsp;&nbsp; $864798 |
| The Campbell's Company (Food Products) | &nbsp;&nbsp; 4175 | &nbsp;&nbsp; 131847 |
| Tyson Foods, Inc. Class A (Food Products) | &nbsp;&nbsp; 6063 | &nbsp;&nbsp; 329221 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution <br> & Retail)<br>| &nbsp;&nbsp; 92568 | &nbsp;&nbsp; 9540058 |
|  |  | &nbsp;&nbsp; 59039959 |
| **Energy–2.9%** |  |  |
| APA Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 7591 | &nbsp;&nbsp; 184309 |
| Baker Hughes Co. (Energy Equip. & Svs.) | &nbsp;&nbsp; 20918 | &nbsp;&nbsp; 1019125 |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 40587 | &nbsp;&nbsp; 6302755 |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 26285 | &nbsp;&nbsp; 2486298 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 16192 | &nbsp;&nbsp; 382941 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 13469 | &nbsp;&nbsp; 472223 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 3992 | &nbsp;&nbsp; 571255 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 11455 | &nbsp;&nbsp; 1284335 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 13241 | &nbsp;&nbsp; 720708 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 5053 | &nbsp;&nbsp; 536831 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 89906 | &nbsp;&nbsp; 10136902 |
| Halliburton Co. (Energy Equip. & Svs.) | &nbsp;&nbsp; 18090 | &nbsp;&nbsp; 445014 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 40938 | &nbsp;&nbsp; 1158955 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 6371 | &nbsp;&nbsp; 1227947 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 15248 | &nbsp;&nbsp; 720468 |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 13153 | &nbsp;&nbsp; 959774 |
| Phillips 66 (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 8459 | &nbsp;&nbsp; 1150593 |
| Schlumberger N.V. (Energy Equip. & Svs.) | &nbsp;&nbsp; 31214 | &nbsp;&nbsp; 1072825 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 4566 | &nbsp;&nbsp; 764988 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 410 | &nbsp;&nbsp; 382792 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 6591 | &nbsp;&nbsp; 1122184 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. / The (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 25661 | &nbsp;&nbsp; 1625624 |
|  |  | &nbsp;&nbsp; 34728846 |
| **Financials–13.5%** |  |  |
| Aflac, Inc. (Insurance) | &nbsp;&nbsp; 10073 | &nbsp;&nbsp; 1125154 |
| Allstate Corp. / The (Insurance) | &nbsp;&nbsp; 5591 | &nbsp;&nbsp; 1200108 |
| American Express Co. (Consumer Finance) | &nbsp;&nbsp; 11427 | &nbsp;&nbsp; 3795592 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. <br> (Insurance)<br>| &nbsp;&nbsp; 11559 | &nbsp;&nbsp; 907844 |
| Ameriprise Financial, Inc. (Capital Markets) | &nbsp;&nbsp; 1970 | &nbsp;&nbsp; 967763 |
| Aon PLC Class A (Insurance) | &nbsp;&nbsp; 4533 | &nbsp;&nbsp; 1616377 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 9656 | &nbsp;&nbsp; 1286855 |
| Arch Capital Group Ltd. (Insurance) | &nbsp;&nbsp; 7886 | &nbsp;&nbsp; 715497 |
| Arthur J. Gallagher & Co. (Insurance) | &nbsp;&nbsp; 5389 | &nbsp;&nbsp; 1669189 |
| Assurant, Inc. (Insurance) | &nbsp;&nbsp; 1071 | &nbsp;&nbsp; 231979 |
| Bank of America Corp. (Banks) | &nbsp;&nbsp; 143652 | &nbsp;&nbsp; 7411007 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. / The <br> (Capital Markets)<br>| &nbsp;&nbsp; 14827 | &nbsp;&nbsp; 1615550 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Class B <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 38668 | &nbsp;&nbsp; 19439950 |
| Blackrock, Inc. (Capital Markets) | &nbsp;&nbsp; 3036 | &nbsp;&nbsp; 3539581 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 15527 | &nbsp;&nbsp; 2652788 |
| Block, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 11661 | &nbsp;&nbsp; 842741 |
| Brown & Brown, Inc. (Insurance) | &nbsp;&nbsp; 6217 | &nbsp;&nbsp; 583092 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. <br> (Consumer Finance)<br>| &nbsp;&nbsp; 13449 | &nbsp;&nbsp; 2858988 |
| CBOE Global Markets, Inc. (Capital Markets) | &nbsp;&nbsp; 2219 | &nbsp;&nbsp; 544210 |
| Charles Schwab Corp. / The (Capital Markets) | &nbsp;&nbsp; 35998 | &nbsp;&nbsp; 3436729 |
| Chubb Ltd. (Insurance) | &nbsp;&nbsp; 7812 | &nbsp;&nbsp; 2204937 |
| Cincinnati Financial Corp. (Insurance) | &nbsp;&nbsp; 3318 | &nbsp;&nbsp; 524576 |
| Citigroup, Inc. (Banks) | &nbsp;&nbsp; 38764 | &nbsp;&nbsp; 3934546 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| Citizens Financial Group, Inc. (Banks) | &nbsp;&nbsp; 9152 | &nbsp;&nbsp; $486520 |
| CME Group, Inc. (Capital Markets) | &nbsp;&nbsp; 7589 | &nbsp;&nbsp; 2050472 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. Class A <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 4753 | &nbsp;&nbsp; 1604090 |
| Corpay, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 1498 | &nbsp;&nbsp; 431514 |
| Erie Indemnity Co. Class A (Insurance) | &nbsp;&nbsp; 539 | &nbsp;&nbsp; 171488 |
| Everest Group Ltd. (Insurance) | &nbsp;&nbsp; 890 | &nbsp;&nbsp; 311705 |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 802 | &nbsp;&nbsp; 229765 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 11084 | &nbsp;&nbsp; 730879 |
| Fifth Third Bancorp (Banks) | &nbsp;&nbsp; 14044 | &nbsp;&nbsp; 625660 |
| Fiserv, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 11403 | &nbsp;&nbsp; 1470189 |
| Franklin Resources, Inc. (Capital Markets) | &nbsp;&nbsp; 6499 | &nbsp;&nbsp; 150322 |
| Global Payments, Inc. (Financial Services) | &nbsp;&nbsp; 5148 | &nbsp;&nbsp; 427696 |
| Globe Life, Inc. (Insurance) | &nbsp;&nbsp; 1719 | &nbsp;&nbsp; 245765 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The <br> (Capital Markets)<br>| &nbsp;&nbsp; 6378 | &nbsp;&nbsp; 5079120 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. / The <br> (Insurance)<br>| &nbsp;&nbsp; 5851 | &nbsp;&nbsp; 780465 |
| Huntington Bancshares, Inc. (Banks) | &nbsp;&nbsp; 31103 | &nbsp;&nbsp; 537149 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 9447 | &nbsp;&nbsp; 650048 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 12057 | &nbsp;&nbsp; 2031363 |
| Invesco Ltd. (Capital Markets) | &nbsp;&nbsp; 9462 | &nbsp;&nbsp; 217058 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 1545 | &nbsp;&nbsp; 230097 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 57982 | &nbsp;&nbsp; 18289262 |
| KeyCorp (Banks) | &nbsp;&nbsp; 19776 | &nbsp;&nbsp; 369613 |
| KKR & Co., Inc. (Capital Markets) | &nbsp;&nbsp; 14430 | &nbsp;&nbsp; 1875179 |
| Loews Corp. (Insurance) | &nbsp;&nbsp; 3609 | &nbsp;&nbsp; 362308 |
| M&T Bank Corp. (Banks) | &nbsp;&nbsp; 3316 | &nbsp;&nbsp; 655308 |
| Marsh & McLennan Cos., Inc. (Insurance) | &nbsp;&nbsp; 10355 | &nbsp;&nbsp; 2086843 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 17412 | &nbsp;&nbsp; 9904120 |
| MetLife, Inc. (Insurance) | &nbsp;&nbsp; 11668 | &nbsp;&nbsp; 961093 |
| Moody's Corp. (Capital Markets) | &nbsp;&nbsp; 3242 | &nbsp;&nbsp; 1544748 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 25587 | &nbsp;&nbsp; 4067310 |
| MSCI, Inc. (Capital Markets) | &nbsp;&nbsp; 1615 | &nbsp;&nbsp; 916367 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 9618 | &nbsp;&nbsp; 850712 |
| Northern Trust Corp. (Capital Markets) | &nbsp;&nbsp; 4057 | &nbsp;&nbsp; 546072 |
| PayPal Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 20024 | &nbsp;&nbsp; 1342809 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. / The <br> (Banks)<br>| &nbsp;&nbsp; 8243 | &nbsp;&nbsp; 1656266 |
| Principal Financial Group, Inc. (Insurance) | &nbsp;&nbsp; 4301 | &nbsp;&nbsp; 356596 |
| Progressive Corp. / The (Insurance) | &nbsp;&nbsp; 12367 | &nbsp;&nbsp; 3054031 |
| Prudential Financial, Inc. (Insurance) | &nbsp;&nbsp; 7469 | &nbsp;&nbsp; 774834 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 3765 | &nbsp;&nbsp; 649839 |
| Regions Financial Corp. (Banks) | &nbsp;&nbsp; 18933 | &nbsp;&nbsp; 499263 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc. Class A <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 16302 | &nbsp;&nbsp; 2334120 |
| S&P Global, Inc. (Capital Markets) | &nbsp;&nbsp; 6592 | &nbsp;&nbsp; 3208392 |
| State Street Corp. (Capital Markets) | &nbsp;&nbsp; 6019 | &nbsp;&nbsp; 698264 |
| Synchrony Financial (Consumer Finance) | &nbsp;&nbsp; 7894 | &nbsp;&nbsp; 560869 |
| T. Rowe Price Group, Inc. (Capital Markets) | &nbsp;&nbsp; 4662 | &nbsp;&nbsp; 478508 |
| Travelers Cos., Inc. / The (Insurance) | &nbsp;&nbsp; 4723 | &nbsp;&nbsp; 1318756 |
| Truist Financial Corp. (Banks) | &nbsp;&nbsp; 26843 | &nbsp;&nbsp; 1227262 |
| U.S. Bancorp (Banks) | &nbsp;&nbsp; 32549 | &nbsp;&nbsp; 1573093 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 35824 | &nbsp;&nbsp; 12229597 |
| W. R. Berkley Corp. (Insurance) | &nbsp;&nbsp; 6358 | &nbsp;&nbsp; 487150 |
| Wells Fargo & Co. (Banks) | &nbsp;&nbsp; 67513 | &nbsp;&nbsp; 5658940 |
| Willis Towers Watson PLC (Insurance) | &nbsp;&nbsp; 2070 | &nbsp;&nbsp; 715082 |
|  |  | &nbsp;&nbsp; 162819024 |
| **Health Care–8.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 36691 | &nbsp;&nbsp; 4914393 |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 37246 | &nbsp;&nbsp; 8623939 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. (Life Sciences Tools <br> & Svs.)<br>| &nbsp;&nbsp; 5908 | &nbsp;&nbsp; 758292 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1430 | &nbsp;&nbsp; 179065 |
| Amgen, Inc. (Biotechnology) | &nbsp;&nbsp; 11347 | &nbsp;&nbsp; 3202123 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 10898 | &nbsp;&nbsp; 248147 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 6002 | &nbsp;&nbsp; $1123394 |
| Biogen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3111 | &nbsp;&nbsp; 435789 |
| Bio-Techne Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 3326 | &nbsp;&nbsp; 185025 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 31219 | &nbsp;&nbsp; 3047911 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | &nbsp;&nbsp; 42854 | &nbsp;&nbsp; 1932715 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 5067 | &nbsp;&nbsp; 795316 |
| Cencora, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 4062 | &nbsp;&nbsp; 1269497 |
| Centene Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 9900 | &nbsp;&nbsp; 353232 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc. <br> (Life Sciences Tools & Svs.)<br>(a) | &nbsp;&nbsp; 1044 | &nbsp;&nbsp; 163344 |
| &nbsp;&nbsp;&nbsp; Cigna Group / The (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 5612 | &nbsp;&nbsp; 1617659 |
| &nbsp;&nbsp;&nbsp; Cooper Cos., Inc. / The (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 4233 | &nbsp;&nbsp; 290214 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 26711 | &nbsp;&nbsp; 2013742 |
| Danaher Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 13394 | &nbsp;&nbsp; 2655494 |
| DaVita, Inc. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 758 | &nbsp;&nbsp; 100715 |
| Dexcom, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 8321 | &nbsp;&nbsp; 559920 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 12457 | &nbsp;&nbsp; 968781 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 4731 | &nbsp;&nbsp; 1528681 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 16757 | &nbsp;&nbsp; 12785591 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 9687 | &nbsp;&nbsp; 727494 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 26155 | &nbsp;&nbsp; 2903205 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 3438 | &nbsp;&nbsp; 1465276 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 2187 | &nbsp;&nbsp; 145151 |
| Hologic, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 4719 | &nbsp;&nbsp; 318485 |
| Humana, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 2552 | &nbsp;&nbsp; 663954 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1674 | &nbsp;&nbsp; 1069502 |
| Incyte Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3480 | &nbsp;&nbsp; 295139 |
| Insulet Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 1494 | &nbsp;&nbsp; 461243 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 7549 | &nbsp;&nbsp; 3376139 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc. (Life Sciences Tools & <br> Svs.)<br>(a) | &nbsp;&nbsp; 3607 | &nbsp;&nbsp; 685114 |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 50796 | &nbsp;&nbsp; 9418594 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 1763 | &nbsp;&nbsp; 506087 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 2617 | &nbsp;&nbsp; 2021737 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 26970 | &nbsp;&nbsp; 2568623 |
| Merck & Co., Inc. (Pharmaceuticals) | &nbsp;&nbsp; 52638 | &nbsp;&nbsp; 4417907 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. (Life <br> Sciences Tools & Svs.)<br>(a) | &nbsp;&nbsp; 437 | &nbsp;&nbsp; 536466 |
| Moderna, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7347 | &nbsp;&nbsp; 189773 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 1150 | &nbsp;&nbsp; 220064 |
| Pfizer, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 119683 | &nbsp;&nbsp; 3049523 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 2373 | &nbsp;&nbsp; 452246 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 2136 | &nbsp;&nbsp; 1201009 |
| ResMed, Inc. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 3107 | &nbsp;&nbsp; 850479 |
| Revvity, Inc. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 2463 | &nbsp;&nbsp; 215882 |
| &nbsp;&nbsp;&nbsp; Solventum Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 3127 | &nbsp;&nbsp; 228271 |
| STERIS PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 2090 | &nbsp;&nbsp; 517150 |
| Stryker Corp. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 7247 | &nbsp;&nbsp; 2678999 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. (Life Sciences <br> Tools & Svs.)<br>| &nbsp;&nbsp; 7945 | &nbsp;&nbsp; 3853484 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 19087 | &nbsp;&nbsp; 6590741 |
| &nbsp;&nbsp;&nbsp; Universal Health Services, Inc. Class B (Health <br> Care Providers & Svs.)<br>| &nbsp;&nbsp; 1196 | &nbsp;&nbsp; 244510 |
| Vertex Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 2114856 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Viatris, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 24737 | &nbsp;&nbsp; $244896 |
| Waters Corp. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 1263 | &nbsp;&nbsp; 378660 |
| &nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. (Life <br> Sciences Tools & Svs.)<br>| &nbsp;&nbsp; 1526 | &nbsp;&nbsp; 400316 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 4203 | &nbsp;&nbsp; 413996 |
| Zoetis, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 9299 | &nbsp;&nbsp; 1360630 |
|  |  | &nbsp;&nbsp; 106538580 |
| **Industrials–8.3%** |  |  |
| 3M Co. (Industrial Conglomerates) | &nbsp;&nbsp; 11183 | &nbsp;&nbsp; 1735378 |
| A. O. Smith Corp. (Building Products) | &nbsp;&nbsp; 2424 | &nbsp;&nbsp; 177946 |
| Allegion PLC (Building Products) | &nbsp;&nbsp; 1821 | &nbsp;&nbsp; 322954 |
| AMETEK, Inc. (Electrical Equip.) | &nbsp;&nbsp; 4820 | &nbsp;&nbsp; 906160 |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 8543 | &nbsp;&nbsp; 2507370 |
| Axon Enterprise, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1647 | &nbsp;&nbsp; 1181953 |
| Boeing Co. / The (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 15938 | &nbsp;&nbsp; 3439899 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 2485 | &nbsp;&nbsp; 591852 |
| Builders FirstSource, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 2345 | &nbsp;&nbsp; 284331 |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. (Air Freight & <br> Logistics)<br>| &nbsp;&nbsp; 2506 | &nbsp;&nbsp; 331794 |
| Carrier Global Corp. (Building Products) | &nbsp;&nbsp; 16724 | &nbsp;&nbsp; 998423 |
| Caterpillar, Inc. (Machinery) | &nbsp;&nbsp; 9876 | &nbsp;&nbsp; 4712333 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 7194 | &nbsp;&nbsp; 1476640 |
| Copart, Inc. (Commercial Svs. & Supplies)<br> (a) | &nbsp;&nbsp; 18875 | &nbsp;&nbsp; 848809 |
| CSX Corp. (Ground Transportation) | &nbsp;&nbsp; 39104 | &nbsp;&nbsp; 1388583 |
| Cummins, Inc. (Machinery) | &nbsp;&nbsp; 2888 | &nbsp;&nbsp; 1219805 |
| Dayforce, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 3388 | &nbsp;&nbsp; 233399 |
| Deere & Co. (Machinery) | &nbsp;&nbsp; 5310 | &nbsp;&nbsp; 2428051 |
| Delta Air Lines, Inc. (Passenger Airlines) | &nbsp;&nbsp; 13762 | &nbsp;&nbsp; 780993 |
| Dover Corp. (Machinery) | &nbsp;&nbsp; 2910 | &nbsp;&nbsp; 485475 |
| Eaton Corp. PLC (Electrical Equip.) | &nbsp;&nbsp; 8207 | &nbsp;&nbsp; 3071470 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 950 | &nbsp;&nbsp; 617063 |
| Emerson Electric Co. (Electrical Equip.) | &nbsp;&nbsp; 11828 | &nbsp;&nbsp; 1551597 |
| Equifax, Inc. (Professional Svs.) | &nbsp;&nbsp; 2627 | &nbsp;&nbsp; 673904 |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. <br> (Air Freight & Logistics)<br>| &nbsp;&nbsp; 2880 | &nbsp;&nbsp; 353059 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 24032 | &nbsp;&nbsp; 1178529 |
| FedEx Corp. (Air Freight & Logistics) | &nbsp;&nbsp; 4540 | &nbsp;&nbsp; 1070577 |
| Fortive Corp. (Machinery) | &nbsp;&nbsp; 7179 | &nbsp;&nbsp; 351699 |
| GE Vernova, Inc. (Electrical Equip.) | &nbsp;&nbsp; 5740 | &nbsp;&nbsp; 3529526 |
| Generac Holdings, Inc. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 1245 | &nbsp;&nbsp; 208413 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 5311 | &nbsp;&nbsp; 1811051 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 22362 | &nbsp;&nbsp; 6726937 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 13370 | &nbsp;&nbsp; 2814385 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 8475 | &nbsp;&nbsp; 1663049 |
| Hubbell, Inc. (Electrical Equip.) | &nbsp;&nbsp; 1127 | &nbsp;&nbsp; 484959 |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. (Aerospace <br> & Defense)<br>| &nbsp;&nbsp; 833 | &nbsp;&nbsp; 239829 |
| IDEX Corp. (Machinery) | &nbsp;&nbsp; 1597 | &nbsp;&nbsp; 259928 |
| Illinois Tool Works, Inc. (Machinery) | &nbsp;&nbsp; 5571 | &nbsp;&nbsp; 1452694 |
| Ingersoll Rand, Inc. (Machinery) | &nbsp;&nbsp; 7674 | &nbsp;&nbsp; 634026 |
| &nbsp;&nbsp;&nbsp; J.B. Hunt Transport Services, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 1622 | &nbsp;&nbsp; 217624 |
| Jacobs Solutions, Inc. (Professional Svs.) | &nbsp;&nbsp; 2536 | &nbsp;&nbsp; 380045 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC <br> (Building Products)<br>| &nbsp;&nbsp; 13747 | &nbsp;&nbsp; 1511483 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 3970 | &nbsp;&nbsp; 1212478 |
| Leidos Holdings, Inc. (Professional Svs.) | &nbsp;&nbsp; 2722 | &nbsp;&nbsp; 514349 |
| Lennox International, Inc. (Building Products) | &nbsp;&nbsp; 678 | &nbsp;&nbsp; 358906 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 4328 | &nbsp;&nbsp; 2160581 |
| Masco Corp. (Building Products) | &nbsp;&nbsp; 4442 | &nbsp;&nbsp; 312672 |
| Nordson Corp. (Machinery) | &nbsp;&nbsp; 1139 | &nbsp;&nbsp; 258496 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 4708 | &nbsp;&nbsp; 1414330 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 2830 | &nbsp;&nbsp; 1724376 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 3924 | &nbsp;&nbsp; $552421 |
| Otis Worldwide Corp. (Machinery) | &nbsp;&nbsp; 8327 | &nbsp;&nbsp; 761338 |
| PACCAR, Inc. (Machinery) | &nbsp;&nbsp; 10986 | &nbsp;&nbsp; 1080144 |
| Parker-Hannifin Corp. (Machinery) | &nbsp;&nbsp; 2691 | &nbsp;&nbsp; 2040182 |
| Paychex, Inc. (Professional Svs.) | &nbsp;&nbsp; 6764 | &nbsp;&nbsp; 857405 |
| Paycom Software, Inc. (Professional Svs.) | &nbsp;&nbsp; 1062 | &nbsp;&nbsp; 221045 |
| Pentair PLC (Machinery) | &nbsp;&nbsp; 3478 | &nbsp;&nbsp; 385223 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 3124 | &nbsp;&nbsp; 1294648 |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 4306 | &nbsp;&nbsp; 988141 |
| Rockwell Automation, Inc. (Electrical Equip.) | &nbsp;&nbsp; 2386 | &nbsp;&nbsp; 833979 |
| Rollins, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5964 | &nbsp;&nbsp; 350325 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 28275 | &nbsp;&nbsp; 4731256 |
| Snap-on, Inc. (Machinery) | &nbsp;&nbsp; 1107 | &nbsp;&nbsp; 383609 |
| Southwest Airlines Co. (Passenger Airlines) | &nbsp;&nbsp; 11143 | &nbsp;&nbsp; 355573 |
| Stanley Black & Decker, Inc. (Machinery) | &nbsp;&nbsp; 3284 | &nbsp;&nbsp; 244100 |
| Textron, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 3781 | &nbsp;&nbsp; 319457 |
| Trane Technologies PLC (Building Products) | &nbsp;&nbsp; 4684 | &nbsp;&nbsp; 1976461 |
| TransDigm Group, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 1184 | &nbsp;&nbsp; 1560536 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 43961 | &nbsp;&nbsp; 4306859 |
| Union Pacific Corp. (Ground Transportation) | &nbsp;&nbsp; 12510 | &nbsp;&nbsp; 2956989 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. <br> (Passenger Airlines)<br>(a) | &nbsp;&nbsp; 6869 | &nbsp;&nbsp; 662858 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc. Class B (Air Freight <br> & Logistics)<br>| &nbsp;&nbsp; 15439 | &nbsp;&nbsp; 1289620 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 1349 | &nbsp;&nbsp; 1287836 |
| Veralto Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5265 | &nbsp;&nbsp; 561302 |
| Verisk Analytics, Inc. (Professional Svs.) | &nbsp;&nbsp; 2964 | &nbsp;&nbsp; 745476 |
| &nbsp;&nbsp;&nbsp; W.W. Grainger, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 919 | &nbsp;&nbsp; 875770 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 7794 | &nbsp;&nbsp; 1721149 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 3551 | &nbsp;&nbsp; 711869 |
| Xylem, Inc. (Machinery) | &nbsp;&nbsp; 5061 | &nbsp;&nbsp; 746497 |
|  |  | &nbsp;&nbsp; 99612251 |
| **Information Technology–34.8%** |  |  |
| Accenture PLC Class A (IT Svs.) | &nbsp;&nbsp; 13116 | &nbsp;&nbsp; 3234406 |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 8933 | &nbsp;&nbsp; 3151116 |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 34187 | &nbsp;&nbsp; 5531115 |
| Akamai Technologies, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 3042 | &nbsp;&nbsp; 230462 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. Class A (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 25725 | &nbsp;&nbsp; 3183469 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 10448 | &nbsp;&nbsp; 2567074 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 312802 | &nbsp;&nbsp; 79648773 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 16896 | &nbsp;&nbsp; 3459287 |
| AppLovin Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 5706 | &nbsp;&nbsp; 4099989 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 21712 | &nbsp;&nbsp; 3163655 |
| Autodesk, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4495 | &nbsp;&nbsp; 1427927 |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 99140 | &nbsp;&nbsp; 32707277 |
| Cadence Design Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5739 | &nbsp;&nbsp; 2015881 |
| CDW Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 2781 | &nbsp;&nbsp; 442958 |
| Cisco Systems, Inc. (Communications Equip.) | &nbsp;&nbsp; 83519 | &nbsp;&nbsp; 5714370 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Class A <br> (IT Svs.)<br>| &nbsp;&nbsp; 10143 | &nbsp;&nbsp; 680291 |
| Corning, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 16351 | &nbsp;&nbsp; 1341272 |
| Crowdstrike Holdings, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 5251 | &nbsp;&nbsp; 2574985 |
| Datadog, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 6859 | &nbsp;&nbsp; 976722 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Class C (Tech. <br> Hardware, Storage & Periph.)<br>| &nbsp;&nbsp; 6433 | &nbsp;&nbsp; 912006 |
| EPAM Systems, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 1182 | &nbsp;&nbsp; 178234 |
| F5, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 1219 | &nbsp;&nbsp; 393969 |
| Fair Isaac Corp. (Software)<br> (a) | &nbsp;&nbsp; 509 | &nbsp;&nbsp; 761734 |
| First Solar, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2276 | &nbsp;&nbsp; 501926 |
| Fortinet, Inc. (Software)<br> (a) | &nbsp;&nbsp; 13644 | &nbsp;&nbsp; 1147187 |
| Gartner, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 1607 | &nbsp;&nbsp; 422432 |
| Gen Digital, Inc. (Software) | &nbsp;&nbsp; 11891 | &nbsp;&nbsp; 337585 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| GoDaddy, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 2938 | &nbsp;&nbsp; $402007 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. (Tech. <br> Hardware, Storage & Periph.)<br>| &nbsp;&nbsp; 27842 | &nbsp;&nbsp; 683799 |
| HP, Inc. (Tech. Hardware, Storage & Periph.) | &nbsp;&nbsp; 19929 | &nbsp;&nbsp; 542667 |
| Intel Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 92198 | &nbsp;&nbsp; 3093243 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. <br> (IT Svs.)<br>| &nbsp;&nbsp; 19633 | &nbsp;&nbsp; 5539647 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 5879 | &nbsp;&nbsp; 4014828 |
| Jabil, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 2277 | &nbsp;&nbsp; 494496 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 3652 | &nbsp;&nbsp; 638808 |
| KLA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 2778 | &nbsp;&nbsp; 2996351 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 26654 | &nbsp;&nbsp; 3568971 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 11451 | &nbsp;&nbsp; 735383 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 23576 | &nbsp;&nbsp; 3944736 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 156687 | &nbsp;&nbsp; 81156032 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. <br> (Semiconductors & Equip.)<br>| &nbsp;&nbsp; 1016 | &nbsp;&nbsp; 935370 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. <br> (Communications Equip.)<br>| &nbsp;&nbsp; 3503 | &nbsp;&nbsp; 1601887 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 4246 | &nbsp;&nbsp; 502981 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 514308 | &nbsp;&nbsp; 95959587 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors N.V. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 5283 | &nbsp;&nbsp; 1203098 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 8677 | &nbsp;&nbsp; 427863 |
| Oracle Corp. (Software) | &nbsp;&nbsp; 34929 | &nbsp;&nbsp; 9823432 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 47934 | &nbsp;&nbsp; 8744120 |
| Palo Alto Networks, Inc. (Software)<br> (a) | &nbsp;&nbsp; 14067 | &nbsp;&nbsp; 2864322 |
| PTC, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2542 | &nbsp;&nbsp; 516077 |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 22717 | &nbsp;&nbsp; 3779200 |
| Roper Technologies, Inc. (Software) | &nbsp;&nbsp; 2254 | &nbsp;&nbsp; 1124047 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 20142 | &nbsp;&nbsp; 4773654 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC (Tech. <br> Hardware, Storage & Periph.)<br>| &nbsp;&nbsp; 4447 | &nbsp;&nbsp; 1049759 |
| ServiceNow, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4382 | &nbsp;&nbsp; 4032667 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 3149 | &nbsp;&nbsp; 242410 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. (Tech. Hardware, <br> Storage & Periph.)<br>(a) | &nbsp;&nbsp; 10637 | &nbsp;&nbsp; 509938 |
| Synopsys, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3896 | &nbsp;&nbsp; 1922247 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 6200 | &nbsp;&nbsp; 1361086 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 995 | &nbsp;&nbsp; 583110 |
| Teradyne, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 3375 | &nbsp;&nbsp; 464535 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 19151 | &nbsp;&nbsp; 3518613 |
| Trimble, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 5049 | &nbsp;&nbsp; 412251 |
| Tyler Technologies, Inc. (Software)<br> (a) | &nbsp;&nbsp; 918 | &nbsp;&nbsp; 480261 |
| VeriSign, Inc. (IT Svs.) | &nbsp;&nbsp; 1784 | &nbsp;&nbsp; 498753 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. (Tech. Hardware, <br> Storage & Periph.)<br>| &nbsp;&nbsp; 7361 | &nbsp;&nbsp; 883762 |
| Workday, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 4521 | &nbsp;&nbsp; 1088340 |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Class A (Electronic <br> Equip., Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 1079 | &nbsp;&nbsp; 320636 |
|  |  | &nbsp;&nbsp; 418241076 |
| **Materials–1.8%** |  |  |
| Air Products & Chemicals, Inc. (Chemicals) | &nbsp;&nbsp; 4670 | &nbsp;&nbsp; 1273602 |
| Albemarle Corp. (Chemicals) | &nbsp;&nbsp; 2497 | &nbsp;&nbsp; 202457 |
| Amcor PLC (Containers & Packaging) | &nbsp;&nbsp; 48914 | &nbsp;&nbsp; 400117 |
| &nbsp;&nbsp;&nbsp; Avery Dennison Corp. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 1655 | &nbsp;&nbsp; 268391 |
| Ball Corp. (Containers & Packaging) | &nbsp;&nbsp; 5774 | &nbsp;&nbsp; 291125 |
| CF Industries Holdings, Inc. (Chemicals) | &nbsp;&nbsp; 3437 | &nbsp;&nbsp; 308299 |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp; 14194 | &nbsp;&nbsp; 959940 |
| Dow, Inc. (Chemicals) | &nbsp;&nbsp; 15040 | &nbsp;&nbsp; 344867 |
| DuPont de Nemours, Inc. (Chemicals) | &nbsp;&nbsp; 8690 | &nbsp;&nbsp; 676951 |
| Eastman Chemical Co. (Chemicals) | &nbsp;&nbsp; 2436 | &nbsp;&nbsp; 153590 |
| Ecolab, Inc. (Chemicals) | &nbsp;&nbsp; 5360 | &nbsp;&nbsp; 1467890 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Materials (continued)** |  |  |
| Freeport-McMoRan, Inc. (Metals & Mining) | &nbsp;&nbsp; 30132 | &nbsp;&nbsp; $1181777 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. <br> (Chemicals)<br>| &nbsp;&nbsp; 5438 | &nbsp;&nbsp; 334655 |
| &nbsp;&nbsp;&nbsp; International Paper Co. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 11202 | &nbsp;&nbsp; 519773 |
| Linde PLC (Chemicals) | &nbsp;&nbsp; 9891 | &nbsp;&nbsp; 4698225 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries N.V. Class A <br> (Chemicals)<br>| &nbsp;&nbsp; 5460 | &nbsp;&nbsp; 267758 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. <br> (Construction Materials)<br>| &nbsp;&nbsp; 1280 | &nbsp;&nbsp; 806758 |
| Mosaic Co. / The (Chemicals) | &nbsp;&nbsp; 6734 | &nbsp;&nbsp; 233535 |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp; 23128 | &nbsp;&nbsp; 1949922 |
| Nucor Corp. (Metals & Mining) | &nbsp;&nbsp; 4870 | &nbsp;&nbsp; 659544 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 1896 | &nbsp;&nbsp; 413195 |
| PPG Industries, Inc. (Chemicals) | &nbsp;&nbsp; 4789 | &nbsp;&nbsp; 503372 |
| Sherwin-Williams Co. / The (Chemicals) | &nbsp;&nbsp; 4875 | &nbsp;&nbsp; 1688018 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock PLC (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 11078 | &nbsp;&nbsp; 471590 |
| Steel Dynamics, Inc. (Metals & Mining) | &nbsp;&nbsp; 2936 | &nbsp;&nbsp; 409366 |
| Vulcan Materials Co. (Construction Materials) | &nbsp;&nbsp; 2803 | &nbsp;&nbsp; 862259 |
|  |  | &nbsp;&nbsp; 21346976 |
| **Real Estate–1.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. (Health <br> Care REITs)<br>| &nbsp;&nbsp; 3303 | &nbsp;&nbsp; 275272 |
| American Tower Corp. (Specialized REITs) | &nbsp;&nbsp; 9857 | &nbsp;&nbsp; 1895698 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 3017 | &nbsp;&nbsp; 582794 |
| BXP, Inc. (Office REITs) | &nbsp;&nbsp; 3125 | &nbsp;&nbsp; 232312 |
| Camden Property Trust (Residential REITs) | &nbsp;&nbsp; 2267 | &nbsp;&nbsp; 242070 |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc. Class A (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 6127 | &nbsp;&nbsp; 965370 |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 8989 | &nbsp;&nbsp; 758402 |
| Crown Castle, Inc. (Specialized REITs) | &nbsp;&nbsp; 9240 | &nbsp;&nbsp; 891568 |
| Digital Realty Trust, Inc. (Specialized REITs) | &nbsp;&nbsp; 6716 | &nbsp;&nbsp; 1161062 |
| Equinix, Inc. (Specialized REITs) | &nbsp;&nbsp; 2057 | &nbsp;&nbsp; 1611125 |
| Equity Residential (Residential REITs) | &nbsp;&nbsp; 7374 | &nbsp;&nbsp; 477319 |
| Essex Property Trust, Inc. (Residential REITs) | &nbsp;&nbsp; 1366 | &nbsp;&nbsp; 365624 |
| Extra Space Storage, Inc. (Specialized REITs) | &nbsp;&nbsp; 4503 | &nbsp;&nbsp; 634653 |
| Federal Realty Investment Trust (Retail REITs) | &nbsp;&nbsp; 1666 | &nbsp;&nbsp; 168782 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 14745 | &nbsp;&nbsp; 282367 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. (Hotel & Resort <br> REITs)<br>| &nbsp;&nbsp; 13567 | &nbsp;&nbsp; 230910 |
| Invitation Homes, Inc. (Residential REITs) | &nbsp;&nbsp; 11966 | &nbsp;&nbsp; 350963 |
| Iron Mountain, Inc. (Specialized REITs) | &nbsp;&nbsp; 6267 | &nbsp;&nbsp; 638858 |
| Kimco Realty Corp. (Retail REITs) | &nbsp;&nbsp; 14369 | &nbsp;&nbsp; 313963 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 2484 | &nbsp;&nbsp; 347089 |
| Prologis, Inc. (Industrial REITs) | &nbsp;&nbsp; 19538 | &nbsp;&nbsp; 2237492 |
| Public Storage (Specialized REITs) | &nbsp;&nbsp; 3296 | &nbsp;&nbsp; 952050 |
| Realty Income Corp. (Retail REITs) | &nbsp;&nbsp; 19145 | &nbsp;&nbsp; 1163825 |
| Regency Centers Corp. (Retail REITs) | &nbsp;&nbsp; 3467 | &nbsp;&nbsp; 252744 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. <br> (Specialized REITs)<br>| &nbsp;&nbsp; 2278 | &nbsp;&nbsp; 440451 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate (continued)** |  |  |
| Simon Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 6844 | &nbsp;&nbsp; $1284413 |
| UDR, Inc. (Residential REITs) | &nbsp;&nbsp; 6398 | &nbsp;&nbsp; 238389 |
| Ventas, Inc. (Health Care REITs) | &nbsp;&nbsp; 9643 | &nbsp;&nbsp; 674914 |
| VICI Properties, Inc. (Specialized REITs) | &nbsp;&nbsp; 22149 | &nbsp;&nbsp; 722279 |
| Welltower, Inc. (Health Care REITs) | &nbsp;&nbsp; 14101 | &nbsp;&nbsp; 2511952 |
| Weyerhaeuser Co. (Specialized REITs) | &nbsp;&nbsp; 15309 | &nbsp;&nbsp; 379510 |
|  |  | &nbsp;&nbsp; 23284220 |
| **Utilities–2.4%** |  |  |
| &nbsp;&nbsp;&nbsp; AES Corp. / The (Ind. Power & Renewable <br> Elec.)<br>| &nbsp;&nbsp; 15108 | &nbsp;&nbsp; 198821 |
| Alliant Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 5452 | &nbsp;&nbsp; 367519 |
| Ameren Corp. (Multi-Utilities) | &nbsp;&nbsp; 5737 | &nbsp;&nbsp; 598828 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. <br> (Electric Utilities)<br>| &nbsp;&nbsp; 11207 | &nbsp;&nbsp; 1260787 |
| &nbsp;&nbsp;&nbsp; American Water Works Co., Inc. <br> (Water Utilities)<br>| &nbsp;&nbsp; 4139 | &nbsp;&nbsp; 576107 |
| Atmos Energy Corp. (Gas Utilities) | &nbsp;&nbsp; 3406 | &nbsp;&nbsp; 581575 |
| CenterPoint Energy, Inc. (Multi-Utilities) | &nbsp;&nbsp; 13852 | &nbsp;&nbsp; 537458 |
| CMS Energy Corp. (Multi-Utilities) | &nbsp;&nbsp; 6351 | &nbsp;&nbsp; 465274 |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 7497 | &nbsp;&nbsp; 753598 |
| Constellation Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 6582 | &nbsp;&nbsp; 2165939 |
| Dominion Energy, Inc. (Multi-Utilities) | &nbsp;&nbsp; 17857 | &nbsp;&nbsp; 1092313 |
| DTE Energy Co. (Multi-Utilities) | &nbsp;&nbsp; 4404 | &nbsp;&nbsp; 622858 |
| Duke Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 16376 | &nbsp;&nbsp; 2026530 |
| Edison International (Electric Utilities) | &nbsp;&nbsp; 8165 | &nbsp;&nbsp; 451361 |
| Entergy Corp. (Electric Utilities) | &nbsp;&nbsp; 9472 | &nbsp;&nbsp; 882696 |
| Evergy, Inc. (Electric Utilities) | &nbsp;&nbsp; 4883 | &nbsp;&nbsp; 371206 |
| Eversource Energy (Electric Utilities) | &nbsp;&nbsp; 7874 | &nbsp;&nbsp; 560156 |
| Exelon Corp. (Electric Utilities) | &nbsp;&nbsp; 21084 | &nbsp;&nbsp; 948991 |
| FirstEnergy Corp. (Electric Utilities) | &nbsp;&nbsp; 11026 | &nbsp;&nbsp; 505211 |
| NextEra Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 43428 | &nbsp;&nbsp; 3278380 |
| NiSource, Inc. (Multi-Utilities) | &nbsp;&nbsp; 9990 | &nbsp;&nbsp; 432567 |
| NRG Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 4104 | &nbsp;&nbsp; 664643 |
| PG&E Corp. (Electric Utilities) | &nbsp;&nbsp; 46633 | &nbsp;&nbsp; 703226 |
| Pinnacle West Capital Corp. (Electric Utilities) | &nbsp;&nbsp; 2534 | &nbsp;&nbsp; 227198 |
| PPL Corp. (Electric Utilities) | &nbsp;&nbsp; 15691 | &nbsp;&nbsp; 583078 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. <br> (Multi-Utilities)<br>| &nbsp;&nbsp; 10405 | &nbsp;&nbsp; 868401 |
| Sempra (Multi-Utilities) | &nbsp;&nbsp; 13662 | &nbsp;&nbsp; 1229307 |
| Southern Co. / The (Electric Utilities) | &nbsp;&nbsp; 23178 | &nbsp;&nbsp; 2196579 |
| Vistra Corp. (Ind. Power & Renewable Elec.) | &nbsp;&nbsp; 6689 | &nbsp;&nbsp; 1310509 |
| WEC Energy Group, Inc. (Multi-Utilities) | &nbsp;&nbsp; 6829 | &nbsp;&nbsp; 782535 |
| Xcel Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 12342 | &nbsp;&nbsp; 995382 |
|  |  | &nbsp;&nbsp; 28239033 |
| **Total Common Stocks (Cost $591,242,877)** |  | &nbsp;&nbsp; $1202397627 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–0.0%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bill<br> (b) | 0.000% | 11/13/2025 | &nbsp;&nbsp; $419000 | &nbsp;&nbsp; $416989 |
| **Total U.S. Treasury Obligations (Cost $416,940)** | **Total U.S. Treasury Obligations (Cost $416,940)** | **Total U.S. Treasury Obligations (Cost $416,940)** | **Total U.S. Treasury Obligations (Cost $416,940)** | &nbsp;&nbsp; $416989 |
| **Total Investments – 100.0% (Cost $591,659,817)** | **Total Investments – 100.0% (Cost $591,659,817)** | **Total Investments – 100.0% (Cost $591,659,817)** | (c) | &nbsp;&nbsp; $1202814616 |
| **Liabilities in Excess of Other Assets – (0.0)%** | **Liabilities in Excess of Other Assets – (0.0)%** | **Liabilities in Excess of Other Assets – (0.0)%** |  | &nbsp;&nbsp; (423568)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $1202391048 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security is fully pledged as collateral for the futures contracts outstanding at September 30, 2025. The value of securities pledged totaled $416,989. See also the <br> following Schedule of Open Futures Contracts.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P 500**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P 500 Index - Long | 16 | December 19, 2025 | &nbsp;&nbsp; $5372231 | &nbsp;&nbsp; $5391000 | &nbsp;&nbsp; $18769 | &nbsp;&nbsp; $11893 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$5372231** | &nbsp;&nbsp; **$5391000** | &nbsp;&nbsp; **$18769** | &nbsp;&nbsp; **$11893** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Value Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–99.0%** | **Shares** | **Value** |
| **Communication Services–8.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 14610 | &nbsp;&nbsp; $3551691 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 10984 | &nbsp;&nbsp; 2675153 |
| AT&T, Inc. (Diversified Telecom. Svs.) | &nbsp;&nbsp; 52557 | &nbsp;&nbsp; 1484210 |
| Comcast Corp. Class A (Media) | &nbsp;&nbsp; 59326 | &nbsp;&nbsp; 1864023 |
| Fox Corp. Class A (Media) | &nbsp;&nbsp; 13358 | &nbsp;&nbsp; 842356 |
| Fox Corp. Class B (Media) | &nbsp;&nbsp; 931 | &nbsp;&nbsp; 53337 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 3072 | &nbsp;&nbsp; 2256015 |
| NIQ Global Intelligence PLC (Media)<br> (a) | &nbsp;&nbsp; 6214 | &nbsp;&nbsp; 97560 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 3539 | &nbsp;&nbsp; 914336 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 3051 | &nbsp;&nbsp; 730348 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. (Diversified <br> Telecom. Svs.)<br>| &nbsp;&nbsp; 18549 | &nbsp;&nbsp; 815229 |
| Walt Disney Co. / The (Entertainment) | &nbsp;&nbsp; 7060 | &nbsp;&nbsp; 808370 |
|  |  | &nbsp;&nbsp; 16092628 |
| **Consumer Discretionary–8.8%** |  |  |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 20985 | &nbsp;&nbsp; 4607676 |
| Best Buy Co., Inc. (Specialty Retail) | &nbsp;&nbsp; 3485 | &nbsp;&nbsp; 263536 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 203 | &nbsp;&nbsp; 1096052 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 24092 | &nbsp;&nbsp; 1059084 |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 16198 | &nbsp;&nbsp; 437751 |
| CarMax, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 4444 | &nbsp;&nbsp; 199402 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 2610 | &nbsp;&nbsp; 496840 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 2857 | &nbsp;&nbsp; 703451 |
| General Motors Co. (Automobiles) | &nbsp;&nbsp; 10795 | &nbsp;&nbsp; 658171 |
| Hasbro, Inc. (Leisure Products) | &nbsp;&nbsp; 8549 | &nbsp;&nbsp; 648442 |
| Home Depot, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 3507 | &nbsp;&nbsp; 1421001 |
| Lithia Motors, Inc. (Specialty Retail) | &nbsp;&nbsp; 1506 | &nbsp;&nbsp; 475896 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 3604 | &nbsp;&nbsp; 1095220 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 3140 | &nbsp;&nbsp; 984578 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 12055 | &nbsp;&nbsp; 1742430 |
| Toll Brothers, Inc. (Household Durables) | &nbsp;&nbsp; 7578 | &nbsp;&nbsp; 1046825 |
| &nbsp;&nbsp;&nbsp; Under Armour, Inc. Class C (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 1233 | &nbsp;&nbsp; 5955 |
|  |  | &nbsp;&nbsp; 16942310 |
| **Consumer Staples–6.4%** |  |  |
| Coca-Cola Co. / The (Beverages) | &nbsp;&nbsp; 3909 | &nbsp;&nbsp; 259245 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 1138 | &nbsp;&nbsp; 1053367 |
| Ingredion, Inc. (Food Products) | &nbsp;&nbsp; 3912 | &nbsp;&nbsp; 477694 |
| Keurig Dr Pepper, Inc. (Beverages) | &nbsp;&nbsp; 15434 | &nbsp;&nbsp; 393721 |
| &nbsp;&nbsp;&nbsp; Kroger Co. / The (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 4144 | &nbsp;&nbsp; 279347 |
| PepsiCo, Inc. (Beverages) | &nbsp;&nbsp; 2659 | &nbsp;&nbsp; 373430 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 12614 | &nbsp;&nbsp; 2045991 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. / The <br> (Household Products)<br>| &nbsp;&nbsp; 16164 | &nbsp;&nbsp; 2483599 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 46802 | &nbsp;&nbsp; 4823414 |
|  |  | &nbsp;&nbsp; 12189808 |
| **Energy–4.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 1443 | &nbsp;&nbsp; 339076 |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 6680 | &nbsp;&nbsp; 1037337 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 7102 | &nbsp;&nbsp; 705726 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 50894 | &nbsp;&nbsp; 1784344 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Energy (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 21544 | &nbsp;&nbsp; $2429086 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 25360 | &nbsp;&nbsp; 717941 |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 16847 | &nbsp;&nbsp; 680282 |
| Schlumberger N.V. (Energy Equip. & Svs.) | &nbsp;&nbsp; 15995 | &nbsp;&nbsp; 549748 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. / The (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 14279 | &nbsp;&nbsp; 904575 |
|  |  | &nbsp;&nbsp; 9148115 |
| **Financials–21.5%** |  |  |
| Accelerant Holdings Class A (Insurance)<br> (a) | &nbsp;&nbsp; 6493 | &nbsp;&nbsp; 96681 |
| Allstate Corp. / The (Insurance) | &nbsp;&nbsp; 6710 | &nbsp;&nbsp; 1440301 |
| American Express Co. (Consumer Finance) | &nbsp;&nbsp; 1434 | &nbsp;&nbsp; 476317 |
| Bank of America Corp. (Banks) | &nbsp;&nbsp; 79780 | &nbsp;&nbsp; 4115850 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Class B <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 9611 | &nbsp;&nbsp; 4831834 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 3301 | &nbsp;&nbsp; 563976 |
| Bullish (Capital Markets)<br> (a) | &nbsp;&nbsp; 3448 | &nbsp;&nbsp; 219327 |
| Charles Schwab Corp. / The (Capital Markets) | &nbsp;&nbsp; 28521 | &nbsp;&nbsp; 2722900 |
| Citigroup, Inc. (Banks) | &nbsp;&nbsp; 26380 | &nbsp;&nbsp; 2677570 |
| CME Group, Inc. (Capital Markets) | &nbsp;&nbsp; 4624 | &nbsp;&nbsp; 1249359 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc. Class A <br> (Consumer Finance)<br>(a) | &nbsp;&nbsp; 1842 | &nbsp;&nbsp; 66994 |
| Fiserv, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 1456 | &nbsp;&nbsp; 187722 |
| Huntington Bancshares, Inc. (Banks) | &nbsp;&nbsp; 71400 | &nbsp;&nbsp; 1233078 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 5951 | &nbsp;&nbsp; 409488 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 10739 | &nbsp;&nbsp; 1809307 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 20634 | &nbsp;&nbsp; 6508583 |
| Klarna Group PLC (Financial Services)<br> (a) | &nbsp;&nbsp; 1337 | &nbsp;&nbsp; 49001 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 1627 | &nbsp;&nbsp; 925454 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc. <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 1267 | &nbsp;&nbsp; 51009 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 19981 | &nbsp;&nbsp; 3176180 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 11936 | &nbsp;&nbsp; 1055739 |
| OneMain Holdings, Inc. (Consumer Finance) | &nbsp;&nbsp; 15827 | &nbsp;&nbsp; 893592 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. / The <br> (Banks)<br>| &nbsp;&nbsp; 6285 | &nbsp;&nbsp; 1262845 |
| Progressive Corp. / The (Insurance) | &nbsp;&nbsp; 2030 | &nbsp;&nbsp; 501309 |
| Remitly Global, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 14063 | &nbsp;&nbsp; 229227 |
| S&P Global, Inc. (Capital Markets) | &nbsp;&nbsp; 3582 | &nbsp;&nbsp; 1743395 |
| Travelers Cos., Inc. / The (Insurance) | &nbsp;&nbsp; 7141 | &nbsp;&nbsp; 1993910 |
| Unum Group (Insurance) | &nbsp;&nbsp; 7197 | &nbsp;&nbsp; 559783 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 800 | &nbsp;&nbsp; 273104 |
|  |  | &nbsp;&nbsp; 41323835 |
| **Health Care–12.8%** |  |  |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 6744 | &nbsp;&nbsp; 1561506 |
| Biogen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6787 | &nbsp;&nbsp; 950723 |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 6886 | &nbsp;&nbsp; 372946 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 7661 | &nbsp;&nbsp; 747943 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | &nbsp;&nbsp; 31706 | &nbsp;&nbsp; 1429941 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 11944 | &nbsp;&nbsp; 1874730 |
| Centene Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 16050 | &nbsp;&nbsp; 572664 |
| &nbsp;&nbsp;&nbsp; Cigna Group / The (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 2591 | &nbsp;&nbsp; 746856 |
| Danaher Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 1278 | &nbsp;&nbsp; 253376 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 4864 | &nbsp;&nbsp; 378273 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 1049 | &nbsp;&nbsp; 338953 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 4308 | &nbsp;&nbsp; 323531 |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 12891 | &nbsp;&nbsp; 2390249 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Value Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Medtronic PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 31986 | &nbsp;&nbsp; $3046347 |
| Merck & Co., Inc. (Pharmaceuticals) | &nbsp;&nbsp; 2480 | &nbsp;&nbsp; 208146 |
| Moderna, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 12266 | &nbsp;&nbsp; 316831 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3559 | &nbsp;&nbsp; 572892 |
| Pfizer, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 112975 | &nbsp;&nbsp; 2878603 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 3475 | &nbsp;&nbsp; 1953888 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. (Life Sciences <br> Tools & Svs.)<br>| &nbsp;&nbsp; 3037 | &nbsp;&nbsp; 1473006 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 6157 | &nbsp;&nbsp; 2126012 |
|  |  | &nbsp;&nbsp; 24517416 |
| **Industrials–14.2%** |  |  |
| AMETEK, Inc. (Electrical Equip.) | &nbsp;&nbsp; 6295 | &nbsp;&nbsp; 1183460 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 2494 | &nbsp;&nbsp; 651059 |
| Caterpillar, Inc. (Machinery) | &nbsp;&nbsp; 2974 | &nbsp;&nbsp; 1419044 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 9525 | &nbsp;&nbsp; 1955102 |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 791 | &nbsp;&nbsp; 652717 |
| Delta Air Lines, Inc. (Passenger Airlines) | &nbsp;&nbsp; 12076 | &nbsp;&nbsp; 685313 |
| FedEx Corp. (Air Freight & Logistics) | &nbsp;&nbsp; 4988 | &nbsp;&nbsp; 1176220 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. (Trading Companies <br> & Distributors)<br>| &nbsp;&nbsp; 4531 | &nbsp;&nbsp; 1017572 |
| Firefly Aerospace, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 2032 | &nbsp;&nbsp; 59578 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 15352 | &nbsp;&nbsp; 815805 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 3768 | &nbsp;&nbsp; 1284888 |
| HEICO Corp. Class A (Aerospace & Defense) | &nbsp;&nbsp; 2465 | &nbsp;&nbsp; 626332 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 9869 | &nbsp;&nbsp; 2077424 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC <br> (Building Products)<br>| &nbsp;&nbsp; 3072 | &nbsp;&nbsp; 337766 |
| &nbsp;&nbsp;&nbsp; Knight-Swift Transportation Holdings, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 13754 | &nbsp;&nbsp; 543421 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 2391 | &nbsp;&nbsp; 1193611 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 5244 | &nbsp;&nbsp; 1115976 |
| Mueller Industries, Inc. (Machinery) | &nbsp;&nbsp; 10305 | &nbsp;&nbsp; 1041939 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 983 | &nbsp;&nbsp; 598962 |
| Owens Corning (Building Products) | &nbsp;&nbsp; 3041 | &nbsp;&nbsp; 430180 |
| Parker-Hannifin Corp. (Machinery) | &nbsp;&nbsp; 3051 | &nbsp;&nbsp; 2313116 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 8380 | &nbsp;&nbsp; 1402225 |
| Trane Technologies PLC (Building Products) | &nbsp;&nbsp; 2554 | &nbsp;&nbsp; 1077686 |
| Union Pacific Corp. (Ground Transportation) | &nbsp;&nbsp; 8850 | &nbsp;&nbsp; 2091874 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc. Class B (Air Freight <br> & Logistics)<br>| &nbsp;&nbsp; 7451 | &nbsp;&nbsp; 622382 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 3099 | &nbsp;&nbsp; 684352 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 1247 | &nbsp;&nbsp; 249986 |
|  |  | &nbsp;&nbsp; 27307990 |
| **Information Technology–11.7%** |  |  |
| Accenture PLC Class A (IT Svs.) | &nbsp;&nbsp; 4693 | &nbsp;&nbsp; 1157294 |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 1753 | &nbsp;&nbsp; 618371 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. Class A (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 10987 | &nbsp;&nbsp; 1359641 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 2494 | &nbsp;&nbsp; 612776 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 5034 | &nbsp;&nbsp; 1281807 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 2291 | &nbsp;&nbsp; 333822 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Cisco Systems, Inc. (Communications Equip.) | &nbsp;&nbsp; 11689 | &nbsp;&nbsp; $799761 |
| Elastic N.V. (Software)<br> (a) | &nbsp;&nbsp; 7443 | &nbsp;&nbsp; 628859 |
| Figma, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 892 | &nbsp;&nbsp; 46268 |
| Flex Ltd. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 15771 | &nbsp;&nbsp; 914245 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 778 | &nbsp;&nbsp; 363948 |
| Intel Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 38681 | &nbsp;&nbsp; 1297748 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. <br> (IT Svs.)<br>| &nbsp;&nbsp; 4629 | &nbsp;&nbsp; 1306119 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 353 | &nbsp;&nbsp; 241067 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 2081 | &nbsp;&nbsp; 364008 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 10044 | &nbsp;&nbsp; 1344892 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 9308 | &nbsp;&nbsp; 782524 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 7648 | &nbsp;&nbsp; 1279663 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 2189 | &nbsp;&nbsp; 1133793 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. <br> (Communications Equip.)<br>| &nbsp;&nbsp; 3629 | &nbsp;&nbsp; 1659505 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 4707 | &nbsp;&nbsp; 878232 |
| Qorvo, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2704 | &nbsp;&nbsp; 246280 |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 9641 | &nbsp;&nbsp; 1603877 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 7165 | &nbsp;&nbsp; 1698105 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 3307 | &nbsp;&nbsp; 607595 |
|  |  | &nbsp;&nbsp; 22560200 |
| **Materials–2.9%** |  |  |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp; 23677 | &nbsp;&nbsp; 1601276 |
| Dow, Inc. (Chemicals) | &nbsp;&nbsp; 7430 | &nbsp;&nbsp; 170370 |
| DuPont de Nemours, Inc. (Chemicals) | &nbsp;&nbsp; 7435 | &nbsp;&nbsp; 579186 |
| Freeport-McMoRan, Inc. (Metals & Mining) | &nbsp;&nbsp; 9732 | &nbsp;&nbsp; 381689 |
| Huntsman Corp. (Chemicals) | &nbsp;&nbsp; 31420 | &nbsp;&nbsp; 282152 |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp; 10874 | &nbsp;&nbsp; 916787 |
| Nucor Corp. (Metals & Mining) | &nbsp;&nbsp; 5294 | &nbsp;&nbsp; 716966 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 3222 | &nbsp;&nbsp; 702170 |
| Scotts Miracle-Gro Co. / The (Chemicals) | &nbsp;&nbsp; 3904 | &nbsp;&nbsp; 222333 |
|  |  | &nbsp;&nbsp; 5572929 |
| **Real Estate–3.3%** |  |  |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 10710 | &nbsp;&nbsp; 435469 |
| Equinix, Inc. (Specialized REITs) | &nbsp;&nbsp; 1418 | &nbsp;&nbsp; 1110634 |
| Kimco Realty Corp. (Retail REITs) | &nbsp;&nbsp; 50950 | &nbsp;&nbsp; 1113257 |
| NNN REIT, Inc. (Retail REITs) | &nbsp;&nbsp; 11382 | &nbsp;&nbsp; 484532 |
| Simon Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 12495 | &nbsp;&nbsp; 2344937 |
| Ventas, Inc. (Health Care REITs) | &nbsp;&nbsp; 12960 | &nbsp;&nbsp; 907070 |
|  |  | &nbsp;&nbsp; 6395899 |
| **Utilities–4.2%** |  |  |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 12715 | &nbsp;&nbsp; 1278112 |
| Edison International (Electric Utilities) | &nbsp;&nbsp; 21335 | &nbsp;&nbsp; 1179399 |
| Entergy Corp. (Electric Utilities) | &nbsp;&nbsp; 24060 | &nbsp;&nbsp; 2242151 |
| NextEra Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 12581 | &nbsp;&nbsp; 949740 |
| NRG Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 3528 | &nbsp;&nbsp; 571360 |
| OGE Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 18451 | &nbsp;&nbsp; 853728 |
| PG&E Corp. (Electric Utilities) | &nbsp;&nbsp; 68732 | &nbsp;&nbsp; 1036478 |
|  |  | &nbsp;&nbsp; 8110968 |
| **Total Common Stocks (Cost $167,598,931)** |  | &nbsp;&nbsp; $190162098 |
| **Total Investments – 99.0% (Cost $167,598,931)**<br> (b) |  | &nbsp;&nbsp; $190162098 |
| **Other Assets in Excess of Liabilities – 1.0%**<br> (c) |  | &nbsp;&nbsp; 1904949 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $192067047 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Value Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Includes $161,141 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P 500 Index - Long | 7 | December 19, 2025 | &nbsp;&nbsp; $2326067 | &nbsp;&nbsp; $2358563 | &nbsp;&nbsp; $32496 | &nbsp;&nbsp; $5455 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$2326067** | &nbsp;&nbsp; **$2358563** | &nbsp;&nbsp; **$32496** | &nbsp;&nbsp; **$5455** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds–97.7%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services–7.9%** |  |  |  |  |
| Cars.com, Inc. (Interactive Media & Svs.)<br> (a) | 6.375% | 11/01/2028 | &nbsp;&nbsp; $250000 | &nbsp;&nbsp; $248986 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 5.125% | 05/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 198657 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 5.000% | 02/01/2028 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 519944 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 5.375% | 06/01/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124166 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 4.750% | 03/01/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 959567 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 4.500% | 08/15/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 236104 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 7.375% | 03/01/2031 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 335330 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (a) | 4.500% | 06/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 177812 |
| CSC Holdings LLC (Media)<br> (a) | 4.125% | 12/01/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 261942 |
| CSC Holdings LLC (Media)<br> (a) | 3.375% | 02/15/2031 | &nbsp;&nbsp; 875000 | &nbsp;&nbsp; 564327 |
| CSC Holdings LLC (Media)<br> (a) | 4.500% | 11/15/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 97541 |
| Gray Media, Inc. (Media)<br> (a) | 5.375% | 11/15/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 56335 |
| Lamar Media Corp. (Media) | 4.875% | 01/15/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148653 |
| Lamar Media Corp. (Media) | 3.625% | 01/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93043 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (a) | 5.000% | 12/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199427 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (a) | 4.625% | 06/01/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 73675 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (a) | 4.125% | 08/01/2030 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 259736 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (a) | 3.625% | 10/01/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 135949 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (a) | 6.125% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25220 |
| Sinclair Television Group, Inc. (Media)<br> (a) | 5.500% | 03/01/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 63750 |
| Sirius XM Radio LLC (Media)<br> (a) | 3.125% | 09/01/2026 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 221895 |
| Sirius XM Radio LLC (Media)<br> (a) | 4.000% | 07/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 193255 |
| Sirius XM Radio LLC (Media)<br> (a) | 4.125% | 07/01/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 304821 |
| Sirius XM Radio LLC (Media)<br> (a) | 3.875% | 09/01/2031 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 317199 |
| Stagwell Global LLC (Media)<br> (a) | 5.625% | 08/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 218569 |
| Sunrise FinCo I B.V. (Media)<br> (a) | 4.875% | 07/15/2031 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 476325 |
| Telenet Finance Luxembourg Notes SARL (Media)<br> (a) | 5.500% | 03/01/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 396792 |
| Univision Communications, Inc. (Media)<br> (a) | 8.000% | 08/15/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310866 |
| Univision Communications, Inc. (Media)<br> (a) | 4.500% | 05/01/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 259388 |
| Univision Communications, Inc. (Media)<br> (a) | 7.375% | 06/30/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25120 |
| Univision Communications, Inc. (Media)<br> (a) | 9.375% | 08/01/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 79925 |
| Virgin Media Secured Finance PLC (Media)<br> (a) | 4.500% | 08/15/2030 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 282852 |
| Virgin Media Vendor Financing Notes IV DAC (Media)<br> (a) | 5.000% | 07/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195910 |
| Vmed O2 U.K. Financing I PLC (Wireless Telecom. Svs.)<br> (a) | 4.250% | 01/31/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185433 |
| Vmed O2 U.K. Financing I PLC (Wireless Telecom. Svs.)<br> (a) | 4.750% | 07/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 376499 |
| VZ Secured Financing B.V. (Media)<br> (a) | 5.000% | 01/15/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 452359 |
| Warnermedia Holdings, Inc. (Media) | 5.050% | 03/15/2042 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 359244 |
| WMG Acquisition Corp. (Entertainment)<br> (a) | 3.750% | 12/01/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 119217 |
|  |  |  |  | &nbsp;&nbsp; 9555833 |
| **Consumer Discretionary–15.9%** |  |  |  |  |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 6.125% | 06/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 230063 |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.625% | 09/15/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151804 |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 4.000% | 10/15/2030 | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp; 1060226 |
| Academy Ltd. (Specialty Retail)<br> (a) | 6.000% | 11/15/2027 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 449743 |
| Adient Global Holdings Ltd. (Automobile Components)<br> (a) | 7.000% | 04/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102475 |
| Adient Global Holdings Ltd. (Automobile Components)<br> (a) | 8.250% | 04/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209756 |
| Adient Global Holdings Ltd. (Automobile Components)<br> (a) | 7.500% | 02/15/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129433 |
| Aramark Services, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.000% | 02/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99529 |
| Asbury Automotive Group, Inc. (Specialty Retail)<br> (a) | 4.625% | 11/15/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 315405 |
| Asbury Automotive Group, Inc. (Specialty Retail) | 4.750% | 03/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24348 |
| Asbury Automotive Group, Inc. (Specialty Retail)<br> (a) | 5.000% | 02/15/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 240058 |
| Beach Acquisition Bidco LLC (Textiles, Apparel & Luxury Goods)<br> (a)(b) | 10.000%, 10.750% PIK | 07/15/2033 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 593264 |
| Belron U.K. Finance PLC (Specialty Retail)<br> (a) | 5.750% | 10/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202607 |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | 4.750% | 12/01/2027 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 273422 |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure)<br> (a) | 4.750% | 06/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 192801 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 4.625% | 10/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 286871 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 7.000% | 02/15/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154291 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 6.500% | 02/15/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152998 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 6.000% | 10/15/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 270864 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 5.125% | 05/01/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250000 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 6.000% | 05/01/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253732 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 7.000% | 08/15/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 131494 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 5.750% | 03/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76574 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (a) | 6.125% | 02/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102504 |
| Champ Acquisition Corp. (Textiles, Apparel & Luxury Goods)<br> (a) | 8.375% | 12/01/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 425254 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.500% | 04/01/2027 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 174754 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.750% | 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199820 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 6.750% | 05/01/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128107 |
| Clarios Global LP / Clarios U.S. Finance Co. (Automobile Components)<br> (a) | 6.750% | 05/15/2028 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127761 |
| Clarios Global LP / Clarios U.S. Finance Co. (Automobile Components)<br> (a) | 6.750% | 02/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206602 |
| Clarios Global LP / Clarios U.S. Finance Co. (Automobile Components)<br> (a) | 6.750% | 09/15/2032 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 511080 |
| Dornoch Debt Merger Sub, Inc. (Automobile Components)<br> (a) | 6.625% | 10/15/2029 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 365517 |
| Forvia SE (Automobile Components)<br> (a) | 6.750% | 09/15/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253640 |
| Gap, Inc. / The (Specialty Retail)<br> (a) | 3.625% | 10/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 93549 |
| Gap, Inc. / The (Specialty Retail)<br> (a) | 3.875% | 10/01/2031 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 159007 |
| Group 1 Automotive, Inc. (Specialty Retail)<br> (a) | 6.375% | 01/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127879 |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods)<br> (a) | 9.000% | 02/15/2031 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 185219 |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure) | 4.875% | 01/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124299 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Consumer Discretionary (continued)** |  |  |  |  |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure)<br> (a) | 3.625% | 02/15/2032 | &nbsp;&nbsp; $200000 | &nbsp;&nbsp; $183021 |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.875% | 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204159 |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.750% | 09/15/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126669 |
| IHO Verwaltungs GmbH (Automobile Components)<br> (a)(b) | 6.375%, 7.125% PIK | 05/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301131 |
| IHO Verwaltungs GmbH (Automobile Components)<br> (a)(b) | 8.000%, 8.750% PIK | 11/15/2032 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 446013 |
| J.B. Poindexter & Co., Inc. (Automobile Components)<br> (a) | 8.750% | 12/15/2031 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 471309 |
| &nbsp;&nbsp;&nbsp; KFC Holding Co. / Pizza Hut Holdings LLC / Taco Bell of America LLC (Hotels, Restaurants & <br> Leisure)<br>(a) | 4.750% | 06/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199294 |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods)<br> (a) | 4.125% | 11/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 213123 |
| LCM Investments Holdings II LLC (Specialty Retail)<br> (a) | 4.875% | 05/01/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 342913 |
| LCM Investments Holdings II LLC (Specialty Retail)<br> (a) | 8.250% | 08/01/2031 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 290841 |
| Light & Wonder International, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 7.250% | 11/15/2029 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 384889 |
| Light & Wonder International, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 7.500% | 09/01/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155994 |
| Light & Wonder International, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 10/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50085 |
| Lithia Motors, Inc. (Specialty Retail)<br> (a) | 5.500% | 10/01/2030 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 224719 |
| MGM Resorts International (Hotels, Restaurants & Leisure) | 4.750% | 10/15/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74416 |
| MGM Resorts International (Hotels, Restaurants & Leisure) | 6.125% | 09/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101780 |
| MGM Resorts International (Hotels, Restaurants & Leisure) | 6.500% | 04/15/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 305638 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp. (Hotels, Restaurants & <br> Leisure)<br>(a) | 4.875% | 05/01/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 315933 |
| NCL Corp. Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 03/01/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126589 |
| NCL Corp. Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 5.875% | 01/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24999 |
| NCL Corp. Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.750% | 02/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205686 |
| NCL Corp. Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25129 |
| NCL Finance Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.125% | 03/15/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 281001 |
| Patrick Industries, Inc. (Automobile Components)<br> (a) | 6.375% | 11/01/2032 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 380478 |
| Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 10/15/2030 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176560 |
| Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 5.625% | 09/30/2031 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 178444 |
| Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 03/15/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77431 |
| Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure)<br> (a) | 6.000% | 02/01/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205096 |
| Sally Holdings LLC / Sally Capital, Inc. (Specialty Retail) | 6.750% | 03/01/2032 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 441834 |
| SeaWorld Parks & Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 5.250% | 08/15/2029 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 516271 |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure)<br> (a) | 5.500% | 04/15/2027 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 274561 |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure)<br> (a) | 7.250% | 05/15/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250099 |
| Station Casinos LLC (Hotels, Restaurants & Leisure)<br> (a) | 4.500% | 02/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 245791 |
| Station Casinos LLC (Hotels, Restaurants & Leisure)<br> (a) | 4.625% | 12/01/2031 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 235829 |
| Station Casinos LLC (Hotels, Restaurants & Leisure)<br> (a) | 6.625% | 03/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128406 |
| TopBuild Corp. (Household Durables)<br> (a) | 5.625% | 01/31/2034 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 274000 |
| Whirlpool Corp. (Household Durables) | 6.500% | 06/15/2033 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 374228 |
| William Carter Co. / The (Textiles, Apparel & Luxury Goods)<br> (a) | 5.625% | 03/15/2027 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325195 |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 4.375% | 08/15/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 268453 |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. (Hotels, Restaurants & Leisure)<br> (a) | 7.125% | 02/15/2031 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 376721 |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. (Hotels, Restaurants & Leisure)<br> (a) | 6.250% | 03/15/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152322 |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure)<br> (a) | 4.750% | 01/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74535 |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | 4.625% | 01/31/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97162 |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | 5.375% | 04/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200751 |
|  |  |  |  | &nbsp;&nbsp; 19346248 |
| **Consumer Staples–3.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (Consumer Staples <br> Distribution & Retail)<br>(a) | 5.875% | 02/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99978 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (Consumer Staples <br> Distribution & Retail)<br>(a) | 3.500% | 03/15/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 142148 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (Consumer Staples <br> Distribution & Retail)<br>(a) | 6.250% | 03/15/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76702 |
| BellRing Brands, Inc. (Personal Care Products)<br> (a) | 7.000% | 03/15/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 619639 |
| Edgewell Personal Care Co. (Personal Care Products)<br> (a) | 5.500% | 06/01/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 174626 |
| Edgewell Personal Care Co. (Personal Care Products)<br> (a) | 4.125% | 04/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 190230 |
| Energizer Holdings, Inc. (Household Products)<br> (a) | 4.750% | 06/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 245649 |
| Energizer Holdings, Inc. (Household Products)<br> (a) | 4.375% | 03/31/2029 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 455553 |
| Energizer Holdings, Inc. (Household Products)<br> (a) | 6.000% | 09/15/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 293407 |
| Froneri Lux FinCo SARL (Food Products)<br> (a) | 6.000% | 08/01/2032 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 625750 |
| Performance Food Group, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 5.500% | 10/15/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149629 |
| Performance Food Group, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 4.250% | 08/01/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 242847 |
| Performance Food Group, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 6.125% | 09/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128039 |
| Post Holdings, Inc. (Food Products)<br> (a) | 6.250% | 02/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128510 |
| Post Holdings, Inc. (Food Products)<br> (a) | 6.375% | 03/01/2033 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 227094 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 6.875% | 09/15/2028 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 231897 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 4.750% | 02/15/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 344766 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 4.625% | 06/01/2030 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 171025 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (a) | 5.750% | 04/15/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75393 |
|  |  |  |  | &nbsp;&nbsp; 4622882 |
| **Energy–10.7%** |  |  |  |  |
| Aethon United BR LP / Aethon United Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 7.500% | 10/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208579 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | 5.750% | 01/15/2028 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 623776 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | 5.375% | 06/15/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 348717 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Energy (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | 5.750% | 10/15/2033 | &nbsp;&nbsp; $125000 | &nbsp;&nbsp; $124446 |
| Antero Resources Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 5.375% | 03/01/2030 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 226305 |
| Archrock Partners LP / Archrock Partners Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.875% | 04/01/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500023 |
| Archrock Partners LP / Archrock Partners Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.250% | 04/01/2028 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375519 |
| Aris Water Holdings LLC (Energy Equip. & Svs.)<br> (a) | 7.250% | 04/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211143 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 5.875% | 06/30/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199588 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.625% | 10/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204093 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.625% | 07/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101666 |
| Blue Racer Midstream LLC / Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 7.000% | 07/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 233310 |
| Blue Racer Midstream LLC / Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 7.250% | 07/15/2032 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 236624 |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.000% | 10/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 248259 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 8.375% | 07/01/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259137 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 8.625% | 11/01/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155350 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 8.750% | 07/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51226 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 9.625% | 06/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 211241 |
| CNX Midstream Partners LP (Oil, Gas & Consumable Fuels)<br> (a) | 4.750% | 04/15/2030 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 671255 |
| CNX Resources Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 7.250% | 03/01/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 285292 |
| Comstock Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 6.750% | 03/01/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499183 |
| Comstock Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 5.875% | 01/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96306 |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 4.375% | 06/15/2031 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 289930 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels)<br> (a) | 7.375% | 02/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26112 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | 7.500% | 06/01/2027 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 178406 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | 4.750% | 01/15/2031 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 374235 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (a) | 5.125% | 06/15/2028 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 424520 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (a) | 6.500% | 06/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103134 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (a) | 4.250% | 02/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96924 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (a) | 5.500% | 10/15/2030 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176265 |
| Kodiak Gas Services LLC (Energy Equip. & Svs.)<br> (a) | 7.250% | 02/15/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 311300 |
| Kodiak Gas Services LLC (Energy Equip. & Svs.)<br> (a) | 6.500% | 10/01/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127272 |
| Matador Resources Co. (Oil, Gas & Consumable Fuels)<br> (a) | 6.500% | 04/15/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 302871 |
| Matador Resources Co. (Oil, Gas & Consumable Fuels)<br> (a) | 6.250% | 04/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100470 |
| Nabors Industries, Inc. (Energy Equip. & Svs.)<br> (a) | 7.375% | 05/15/2027 | &nbsp;&nbsp; 39000 | &nbsp;&nbsp; 39589 |
| Nabors Industries, Inc. (Energy Equip. & Svs.)<br> (a) | 9.125% | 01/31/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52000 |
| Nabors Industries, Inc. (Energy Equip. & Svs.)<br> (a) | 8.875% | 08/15/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 116414 |
| Northriver Midstream Finance LP (Oil, Gas & Consumable Fuels)<br> (a) | 6.750% | 07/15/2032 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 383473 |
| Permian Resources Operating LLC (Oil, Gas & Consumable Fuels)<br> (a) | 7.000% | 01/15/2032 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 181499 |
| Permian Resources Operating LLC (Oil, Gas & Consumable Fuels)<br> (a) | 6.250% | 02/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76399 |
| Precision Drilling Corp. (Energy Equip. & Svs.)<br> (a) | 6.875% | 01/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201074 |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | 8.250% | 01/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 230286 |
| Range Resources Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 4.750% | 02/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 122266 |
| Rockies Express Pipeline LLC (Oil, Gas & Consumable Fuels)<br> (a) | 6.750% | 03/15/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 260954 |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | 6.750% | 09/15/2026 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124957 |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | 6.500% | 07/15/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 176141 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 6.750% | 03/15/2034 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 470233 |
| &nbsp;&nbsp;&nbsp; Targa Resources Partners LP / Targa Resources Partners Finance Corp. (Oil, Gas & <br> Consumable Fuels)<br>| 4.875% | 02/01/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75219 |
| TGNR Intermediate Holdings LLC (Oil, Gas & Consumable Fuels)<br> (a) | 5.500% | 10/15/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 269100 |
| U.S.A. Compression Partners LP / U.S.A. Compression Finance Corp. (Energy Equip. & Svs.) | 6.875% | 09/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199955 |
| U.S.A. Compression Partners LP / U.S.A. Compression Finance Corp. (Energy Equip. & Svs.)<br> (a) | 7.125% | 03/15/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 360963 |
| U.S.A. Compression Partners LP / U.S.A. Compression Finance Corp. (Energy Equip. & Svs.)<br> (a) | 6.250% | 10/01/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 125478 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (a) | 7.500% | 05/01/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 331503 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (a) | 6.500% | 01/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210532 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (a) | 7.750% | 05/01/2035 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 338613 |
|  |  |  |  | &nbsp;&nbsp; 12929125 |
| **Financials–12.9%** |  |  |  |  |
| Acrisure LLC / Acrisure Finance, Inc. (Insurance)<br> (a) | 6.000% | 08/01/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 147865 |
| Acrisure LLC / Acrisure Finance, Inc. (Insurance)<br> (a) | 7.500% | 11/06/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 338569 |
| Acrisure LLC / Acrisure Finance, Inc. (Insurance)<br> (a) | 6.750% | 07/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51484 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (Insurance)<br> (a) | 5.875% | 11/01/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 149218 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (Insurance)<br> (a) | 7.000% | 01/15/2031 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 568276 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (Insurance)<br> (a) | 7.375% | 10/01/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257608 |
| AmWINS Group, Inc. (Insurance)<br> (a) | 6.375% | 02/15/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 280591 |
| AmWINS Group, Inc. (Insurance)<br> (a) | 4.875% | 06/30/2029 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 583135 |
| Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, Inc. (Insurance)<br> (a) | 7.500% | 07/15/2033 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 332685 |
| Ardonagh Finco Ltd. (Insurance)<br> (a) | 7.750% | 02/15/2031 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 235438 |
| Ardonagh Group Finance Ltd. (Insurance)<br> (a) | 8.875% | 02/15/2032 | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp; 1130141 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance, Inc. <br> (Insurance)<br>(a) | 7.125% | 05/15/2031 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 622830 |
| Boost Newco Borrower LLC (Financial Services)<br> (a) | 7.500% | 01/15/2031 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 636536 |
| Broadstreet Partners Group, Inc. (Insurance)<br> (a) | 5.875% | 04/15/2029 | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1346068 |
| CrossCountry Intermediate HoldCo LLC (Financial Services)<br> (a) | 6.500% | 10/01/2030 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 451656 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 4.271% | 01/09/2027 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 446319 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 7.350% | 11/04/2027 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 234673 |
| HUB International Ltd. (Insurance)<br> (a) | 5.625% | 12/01/2029 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 649346 |
| HUB International Ltd. (Insurance)<br> (a) | 7.250% | 06/15/2030 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 599670 |
| HUB International Ltd. (Insurance)<br> (a) | 7.375% | 01/31/2032 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 833071 |
| Inversion Escrow Issuer LLC (Capital Markets)<br> (a) | 6.750% | 08/01/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246278 |
| Jones Deslauriers Insurance Management, Inc. (Insurance)<br> (a) | 8.500% | 03/15/2030 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 472775 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials (continued)** |  |  |  |  |
| Jones Deslauriers Insurance Management, Inc. (Insurance)<br> (a) | 6.875% | 10/01/2033 | &nbsp;&nbsp; $475000 | &nbsp;&nbsp; $472510 |
| Panther Escrow Issuer LLC (Insurance)<br> (a) | 7.125% | 06/01/2031 | &nbsp;&nbsp; 875000 | &nbsp;&nbsp; 910103 |
| Rocket Cos., Inc. (Financial Services)<br> (a) | 6.125% | 08/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25658 |
| Rocket Cos., Inc. (Financial Services)<br> (a) | 6.375% | 08/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77409 |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (Financial Services)<br> (a) | 3.625% | 03/01/2029 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 286118 |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (Financial Services)<br> (a) | 3.875% | 03/01/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 373538 |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (Financial Services)<br> (a) | 4.000% | 10/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 365313 |
| Ryan Specialty LLC (Insurance)<br> (a) | 4.375% | 02/01/2030 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 266443 |
| Ryan Specialty LLC (Insurance)<br> (a) | 5.875% | 08/01/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 303356 |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc. (Financial Services)<br> (a) | 6.750% | 08/15/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77542 |
| United Wholesale Mortgage LLC (Financial Services)<br> (a) | 5.500% | 11/15/2025 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199928 |
| United Wholesale Mortgage LLC (Financial Services)<br> (a) | 5.750% | 06/15/2027 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 224874 |
| United Wholesale Mortgage LLC (Financial Services)<br> (a) | 5.500% | 04/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 221907 |
| USI, Inc. (Insurance)<br> (a) | 7.500% | 01/15/2032 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 891377 |
| UWM Holdings LLC (Financial Services)<br> (a) | 6.625% | 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203457 |
| UWM Holdings LLC (Financial Services)<br> (a) | 6.250% | 03/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199047 |
|  |  |  |  | &nbsp;&nbsp; 15712812 |
| **Health Care–8.4%** |  |  |  |  |
| 1261229 B.C. Ltd. (Pharmaceuticals)<br> (a) | 10.000% | 04/15/2032 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 717536 |
| AHP Health Partners, Inc. (Health Care Providers & Svs.)<br> (a) | 5.750% | 07/15/2029 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 516677 |
| Amneal Pharmaceuticals LLC (Pharmaceuticals)<br> (a) | 6.875% | 08/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 206842 |
| Avantor Funding, Inc. (Health Care Equip. & Supplies)<br> (a) | 4.625% | 07/15/2028 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 319689 |
| Avantor Funding, Inc. (Health Care Equip. & Supplies)<br> (a) | 3.875% | 11/01/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 237741 |
| Bausch Health Cos., Inc. (Pharmaceuticals)<br> (a) | 4.875% | 06/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 268500 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (a) | 6.000% | 01/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 169862 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (a) | 6.875% | 04/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 79500 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (a) | 6.125% | 04/01/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 108800 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (a) | 5.250% | 05/15/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 226161 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (a) | 9.750% | 01/15/2034 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256125 |
| Concentra Health Services, Inc. (Health Care Providers & Svs.)<br> (a) | 6.875% | 07/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103838 |
| Grifols SA (Biotechnology)<br> (a) | 4.750% | 10/15/2028 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 631385 |
| HealthEquity, Inc. (Health Care Providers & Svs.)<br> (a) | 4.500% | 10/01/2029 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 509053 |
| Insulet Corp. (Health Care Equip. & Supplies)<br> (a) | 6.500% | 04/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51982 |
| IQVIA, Inc. (Life Sciences Tools & Svs.)<br> (a) | 5.000% | 10/15/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199756 |
| IQVIA, Inc. (Life Sciences Tools & Svs.)<br> (a) | 6.500% | 05/15/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 335884 |
| IQVIA, Inc. (Life Sciences Tools & Svs.)<br> (a) | 6.250% | 06/01/2032 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 179925 |
| Medline Borrower LP (Health Care Equip. & Supplies)<br> (a) | 3.875% | 04/01/2029 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 361666 |
| Medline Borrower LP (Health Care Equip. & Supplies)<br> (a) | 5.250% | 10/01/2029 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1090488 |
| Medline Borrower LP / Medline Co-Issuer, Inc. (Health Care Equip. & Supplies)<br> (a) | 6.250% | 04/01/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128176 |
| Molina Healthcare, Inc. (Health Care Providers & Svs.)<br> (a) | 6.250% | 01/15/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126389 |
| Opal Bidco SAS (Pharmaceuticals)<br> (a) | 6.500% | 03/31/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 281805 |
| Organon & Co. / Organon Foreign Debt Co-Issuer B.V. (Pharmaceuticals)<br> (a) | 4.125% | 04/30/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 193228 |
| Organon & Co. / Organon Foreign Debt Co-Issuer B.V. (Pharmaceuticals)<br> (a) | 5.125% | 04/30/2031 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 394222 |
| Organon & Co. / Organon Foreign Debt Co-Issuer B.V. (Pharmaceuticals)<br> (a) | 7.875% | 05/15/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185280 |
| Prestige Brands, Inc. (Pharmaceuticals)<br> (a) | 3.750% | 04/01/2031 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 161194 |
| Raven Acquisition Holdings LLC (Health Care Providers & Svs.)<br> (a) | 6.875% | 11/15/2031 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 488142 |
| Select Medical Corp. (Health Care Providers & Svs.)<br> (a) | 6.250% | 12/01/2032 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450189 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 6.250% | 02/01/2027 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124959 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 5.125% | 11/01/2027 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 424220 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 4.625% | 06/15/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 173399 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 6.125% | 10/01/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200116 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 4.250% | 06/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48832 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 6.750% | 05/15/2031 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 181174 |
|  |  |  |  | &nbsp;&nbsp; 10132735 |
| **Industrials–14.1%** |  |  |  |  |
| Allied Universal Holdco LLC (Commercial Svs. & Supplies)<br> (a) | 7.875% | 02/15/2031 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 419398 |
| Allied Universal Holdco LLC / Allied Universal Finance Corp. (Commercial Svs. & Supplies)<br> (a) | 6.000% | 06/01/2029 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 466951 |
| Allied Universal Holdco LLC / Allied Universal Finance Corp. (Commercial Svs. & Supplies)<br> (a) | 6.875% | 06/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128479 |
| Amentum Holdings, Inc. (Professional Svs.)<br> (a) | 7.250% | 08/01/2032 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 493224 |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd. (Passenger Airlines)<br> (a) | 5.500% | 04/20/2026 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50022 |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd. (Passenger Airlines)<br> (a) | 5.750% | 04/20/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175669 |
| American Builders & Contractors Supply Co., Inc. (Trading Companies & Distributors)<br> (a) | 4.000% | 01/15/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 269475 |
| Brink's Co. / The (Commercial Svs. & Supplies)<br> (a) | 6.500% | 06/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205820 |
| Brink's Co. / The (Commercial Svs. & Supplies)<br> (a) | 6.750% | 06/15/2032 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 234033 |
| CACI International, Inc. (Professional Svs.)<br> (a) | 6.375% | 06/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103155 |
| Camelot Return Merger Sub, Inc. (Building Products)<br> (a) | 8.750% | 08/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 96751 |
| Clarivate Science Holdings Corp. (Professional Svs.)<br> (a) | 3.875% | 07/01/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 72176 |
| Clarivate Science Holdings Corp. (Professional Svs.)<br> (a) | 4.875% | 07/01/2029 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 614269 |
| Clean Harbors, Inc. (Commercial Svs. & Supplies)<br> (a) | 5.750% | 10/15/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151310 |
| CP Atlas Buyer, Inc. (Building Products)<br> (a) | 9.750% | 07/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 130913 |
| CP Atlas Buyer, Inc. (Building Products)<br> (a)(b) | 12.750%, 12.750% PIK | 01/15/2031 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 349567 |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc. (Electrical Equip.)<br> (a) | 6.625% | 12/15/2030 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 693866 |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc. (Electrical Equip.)<br> (a) | 6.750% | 07/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103865 |
| Enpro, Inc. (Machinery)<br> (a) | 6.125% | 06/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76653 |
| Foundation Building Materials, Inc. (Trading Companies & Distributors)<br> (a) | 6.000% | 03/01/2029 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 734868 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (a) | 4.625% | 02/15/2027 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49621 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (a) | 7.750% | 02/15/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102510 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (a) | 6.000% | 06/01/2029 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 371784 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Industrials (continued)** |  |  |  |  |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (a) | 8.250% | 08/01/2032 | &nbsp;&nbsp; $250000 | &nbsp;&nbsp; $259148 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (a) | 8.375% | 11/15/2032 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 622816 |
| Gates Corp. (Machinery)<br> (a) | 6.875% | 07/01/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 337236 |
| Goat Holdco LLC (Aerospace & Defense)<br> (a) | 6.750% | 02/01/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128125 |
| Herc Holdings, Inc. (Trading Companies & Distributors)<br> (a) | 7.000% | 06/15/2030 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 285650 |
| Herc Holdings, Inc. (Trading Companies & Distributors)<br> (a) | 7.250% | 06/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104390 |
| Interface, Inc. (Commercial Svs. & Supplies)<br> (a) | 5.500% | 12/01/2028 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 374369 |
| Madison IAQ LLC (Commercial Svs. & Supplies)<br> (a) | 4.125% | 06/30/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48798 |
| Madison IAQ LLC (Commercial Svs. & Supplies)<br> (a) | 5.875% | 06/30/2029 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 889110 |
| Masterbrand, Inc. (Building Products)<br> (a) | 7.000% | 07/15/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310028 |
| Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC (Building Products)<br> (a) | 6.750% | 04/01/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256813 |
| MIWD Holdco II LLC / MIWD Finance Corp. (Building Products)<br> (a) | 5.500% | 02/01/2030 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 170470 |
| QXO Building Products, Inc. (Trading Companies & Distributors)<br> (a) | 6.750% | 04/30/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 284734 |
| Science Applications International Corp. (Professional Svs.)<br> (a) | 4.875% | 04/01/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 272216 |
| Science Applications International Corp. (Professional Svs.)<br> (a) | 5.875% | 11/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50016 |
| Sensata Technologies B.V. (Electrical Equip.)<br> (a) | 5.875% | 09/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251549 |
| Sensata Technologies, Inc. (Electrical Equip.)<br> (a) | 4.375% | 02/15/2030 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 120645 |
| Sensata Technologies, Inc. (Electrical Equip.)<br> (a) | 3.750% | 02/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23072 |
| SPX FLOW, Inc. (Machinery)<br> (a) | 8.750% | 04/01/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 616351 |
| SS&C Technologies, Inc. (Professional Svs.)<br> (a) | 5.500% | 09/30/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499136 |
| SS&C Technologies, Inc. (Professional Svs.)<br> (a) | 6.500% | 06/01/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129230 |
| Standard Building Solutions, Inc. (Building Products)<br> (a) | 6.500% | 08/15/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 282156 |
| Standard Building Solutions, Inc. (Building Products)<br> (a) | 6.250% | 08/01/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253346 |
| Stena International SA (Marine Transportation)<br> (a) | 7.250% | 01/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203904 |
| TransDigm, Inc. (Aerospace & Defense) | 4.625% | 01/15/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 97997 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.375% | 03/01/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153360 |
| TransDigm, Inc. (Aerospace & Defense) | 4.875% | 05/01/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 344830 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.875% | 12/15/2030 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 673488 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.625% | 03/01/2032 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 489034 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.375% | 05/31/2033 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126405 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.250% | 01/31/2034 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51421 |
| TransDigm, Inc. (Aerospace & Defense)<br> (a) | 6.750% | 01/31/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103396 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 4.875% | 01/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199389 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 5.250% | 01/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75372 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 3.875% | 02/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47301 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 3.750% | 01/15/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 138957 |
| United Rentals North America, Inc. (Trading Companies & Distributors)<br> (a) | 6.125% | 03/15/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155973 |
| Watco Cos. LLC / Watco Finance Corp. (Ground Transportation)<br> (a) | 7.125% | 08/01/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310521 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (a) | 7.250% | 06/15/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253250 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (a) | 6.375% | 03/15/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 231656 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (a) | 6.625% | 03/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 129903 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (a) | 6.375% | 03/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103663 |
| White Cap Buyer LLC (Building Products)<br> (a) | 6.875% | 10/15/2028 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 548366 |
|  |  |  |  | &nbsp;&nbsp; 17101969 |
| **Information Technology–9.4%** |  |  |  |  |
| AthenaHealth Group, Inc. (Software)<br> (a) | 6.500% | 02/15/2030 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 843045 |
| Capstone Borrower, Inc. (Software)<br> (a) | 8.000% | 06/15/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 366027 |
| Ciena Corp. (Communications Equip.)<br> (a) | 4.000% | 01/31/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 71528 |
| Cloud Software Group, Inc. (Software)<br> (a) | 6.500% | 03/31/2029 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 454059 |
| Cloud Software Group, Inc. (Software)<br> (a) | 9.000% | 09/30/2029 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 674184 |
| Cloud Software Group, Inc. (Software)<br> (a) | 8.250% | 06/30/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 212151 |
| Cloud Software Group, Inc. (Software)<br> (a) | 6.625% | 08/15/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 152695 |
| Coherent Corp. (Electronic Equip., Instr. & Comp.)<br> (a) | 5.000% | 12/15/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246551 |
| Consensus Cloud Solutions, Inc. (Software)<br> (a) | 6.000% | 10/15/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199614 |
| Consensus Cloud Solutions, Inc. (Software)<br> (a) | 6.500% | 10/15/2028 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 225990 |
| CoreWeave, Inc. (IT Svs.)<br> (a) | 9.250% | 06/01/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 361478 |
| CoreWeave, Inc. (IT Svs.)<br> (a) | 9.000% | 02/01/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128110 |
| Elastic N.V. (Software)<br> (a) | 4.125% | 07/15/2029 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 359964 |
| Ellucian Holdings, Inc. (Software)<br> (a) | 6.500% | 12/01/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 126990 |
| Entegris, Inc. (Semiconductors & Equip.)<br> (a) | 4.750% | 04/15/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 346998 |
| Entegris, Inc. (Semiconductors & Equip.)<br> (a) | 5.950% | 06/15/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253508 |
| Fair Isaac Corp. (Software)<br> (a) | 6.000% | 05/15/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151866 |
| Fortress Intermediate 3, Inc. (IT Svs.)<br> (a) | 7.500% | 06/01/2031 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 340288 |
| Gen Digital, Inc. (Software)<br> (a) | 6.250% | 04/01/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 306264 |
| Go Daddy Operating Co. LLC / GD Finance Co., Inc. (IT Svs.)<br> (a) | 5.250% | 12/01/2027 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124779 |
| Insight Enterprises, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | 6.625% | 05/15/2032 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 333222 |
| Kioxia Holdings Corp. (Semiconductors & Equip.)<br> (a) | 6.625% | 07/24/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257008 |
| McAfee Corp. (Software)<br> (a) | 7.375% | 02/15/2030 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1159489 |
| NCR Voyix Corp. (Software)<br> (a) | 5.000% | 10/01/2028 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 172385 |
| Open Text Corp. (Software)<br> (a) | 6.900% | 12/01/2027 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 182073 |
| Open Text Corp. (Software)<br> (a) | 3.875% | 12/01/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 330838 |
| Qnity Electronics, Inc. (Semiconductors & Equip.)<br> (a) | 5.750% | 08/15/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75572 |
| Qnity Electronics, Inc. (Semiconductors & Equip.)<br> (a) | 6.250% | 08/15/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76589 |
| Rocket Software, Inc. (Software)<br> (a) | 9.000% | 11/28/2028 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 231935 |
| Rocket Software, Inc. (Software)<br> (a) | 6.500% | 02/15/2029 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 632996 |
| Seagate Data Storage Technology Pte. Ltd. (Tech. Hardware, Storage & Periph.)<br> (a) | 8.250% | 12/15/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158790 |
| Seagate Data Storage Technology Pte. Ltd. (Tech. Hardware, Storage & Periph.)<br> (a) | 9.625% | 12/01/2032 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 509704 |
| Synaptics, Inc. (Semiconductors & Equip.)<br> (a) | 4.000% | 06/15/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 239213 |
| TTM Technologies, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | 4.000% | 03/01/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 312465 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Information Technology (continued)** |  |  |  |  |
| UKG, Inc. (Software)<br> (a) | 6.875% | 02/01/2031 | &nbsp;&nbsp; $400000 | &nbsp;&nbsp; $412734 |
| Viavi Solutions, Inc. (Communications Equip.)<br> (a) | 3.750% | 10/01/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 259278 |
| Zebra Technologies Corp. (Electronic Equip., Instr. & Comp.)<br> (a) | 6.500% | 06/01/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 154061 |
|  |  |  |  | &nbsp;&nbsp; 11444441 |
| **Materials–8.6%** |  |  |  |  |
| ARD Finance SA (Containers & Packaging)<br> (a)(b) | 6.500%, 7.250% PIK | 06/30/2027 | &nbsp;&nbsp; 193173 | &nbsp;&nbsp; 4829 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance U.S.A. LLC / Ardagh Metal Packaging Finance PLC <br> (Containers & Packaging)<br>(a) | 4.000% | 09/01/2029 | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 717275 |
| Ardagh Packaging Finance PLC / Ardagh Holdings U.S.A., Inc. (Containers & Packaging)<br> (a) | 5.250% | 08/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 76000 |
| Axalta Coating Systems Dutch Holding B B.V. (Chemicals)<br> (a) | 7.250% | 02/15/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 156933 |
| Axalta Coating Systems LLC (Chemicals)<br> (a) | 3.375% | 02/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 165796 |
| Ball Corp. (Containers & Packaging) | 6.875% | 03/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25478 |
| Ball Corp. (Containers & Packaging) | 6.000% | 06/15/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 127956 |
| Ball Corp. (Containers & Packaging) | 2.875% | 08/15/2030 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 204400 |
| Celanese U.S. Holdings LLC (Chemicals) | 6.500% | 04/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50327 |
| Celanese U.S. Holdings LLC (Chemicals) | 6.750% | 04/15/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 398312 |
| Clearwater Paper Corp. (Paper & Forest Products)<br> (a) | 4.750% | 08/15/2028 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 188154 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | 4.875% | 03/01/2031 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 303420 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | 7.500% | 09/15/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128842 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | 7.000% | 03/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201993 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | 7.375% | 05/01/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 153130 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | 7.625% | 01/15/2034 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 128801 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (a) | 6.875% | 01/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51290 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (a) | 8.750% | 04/15/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 359535 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (a) | 6.750% | 04/15/2032 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 384697 |
| Coeur Mining, Inc. (Metals & Mining)<br> (a) | 5.125% | 02/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 392851 |
| Crown Americas LLC (Containers & Packaging)<br> (a) | 5.875% | 06/01/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151517 |
| Crown Americas LLC / Crown Americas Capital Corp. V (Containers & Packaging) | 4.250% | 09/30/2026 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49750 |
| Element Solutions, Inc. (Chemicals)<br> (a) | 3.875% | 09/01/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 290740 |
| Graphic Packaging International LLC (Containers & Packaging)<br> (a) | 4.750% | 07/15/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148874 |
| Graphic Packaging International LLC (Containers & Packaging)<br> (a) | 3.500% | 03/15/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 144700 |
| Graphic Packaging International LLC (Containers & Packaging)<br> (a) | 3.500% | 03/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47400 |
| H.B. Fuller Co. (Chemicals) | 4.250% | 10/15/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 145857 |
| Illuminate Buyer LLC / Illuminate Holdings IV, Inc. (Chemicals)<br> (a) | 9.000% | 07/01/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 275869 |
| Mauser Packaging Solutions Holding Co. (Containers & Packaging)<br> (a) | 7.875% | 04/15/2027 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151470 |
| Maxam Prill SARL (Chemicals)<br> (a) | 7.750% | 07/15/2030 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 427841 |
| OI European Group B.V. (Containers & Packaging)<br> (a) | 4.750% | 02/15/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 143145 |
| Olympus Water U.S. Holding Corp. (Chemicals)<br> (a) | 7.125% | 10/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 203549 |
| Olympus Water U.S. Holding Corp. (Chemicals)<br> (a) | 4.250% | 10/01/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 240410 |
| Olympus Water U.S. Holding Corp. (Chemicals)<br> (a) | 9.750% | 11/15/2028 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 288612 |
| Olympus Water U.S. Holding Corp. (Chemicals)<br> (a) | 6.250% | 10/01/2029 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 436948 |
| Olympus Water U.S. Holding Corp. (Chemicals)<br> (a) | 7.250% | 02/15/2033 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 375391 |
| Owens-Brockway Glass Container, Inc. (Containers & Packaging)<br> (a) | 7.250% | 05/15/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76348 |
| Quikrete Holdings, Inc. (Construction Materials)<br> (a) | 6.375% | 03/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207169 |
| Quikrete Holdings, Inc. (Construction Materials)<br> (a) | 6.750% | 03/01/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103969 |
| Sealed Air Corp. (Containers & Packaging)<br> (a) | 4.000% | 12/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196278 |
| Sealed Air Corp. (Containers & Packaging)<br> (a) | 5.000% | 04/15/2029 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124303 |
| Sealed Air Corp. (Containers & Packaging)<br> (a) | 6.500% | 07/15/2032 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 284820 |
| Sealed Air Corp. / Sealed Air Corp. U.S. (Containers & Packaging)<br> (a) | 7.250% | 02/15/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78699 |
| SNF Group SACA (Chemicals)<br> (a) | 3.375% | 03/15/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185667 |
| Solstice Advanced Materials, Inc. (Chemicals)<br> (a) | 5.625% | 09/30/2033 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150496 |
| Standard Industries, Inc. (Construction Materials)<br> (a) | 4.750% | 01/15/2028 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 123925 |
| Trivium Packaging Finance B.V. (Containers & Packaging)<br> (a) | 8.250% | 07/15/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266686 |
| Trivium Packaging Finance B.V. (Containers & Packaging)<br> (a) | 12.250% | 01/15/2031 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 459995 |
| W.R. Grace Holdings LLC (Chemicals)<br> (a) | 4.875% | 06/15/2027 | &nbsp;&nbsp; 66000 | &nbsp;&nbsp; 65591 |
| W.R. Grace Holdings LLC (Chemicals)<br> (a) | 5.625% | 08/15/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 255612 |
| W.R. Grace Holdings LLC (Chemicals)<br> (a) | 6.625% | 08/15/2032 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 123598 |
|  |  |  |  | &nbsp;&nbsp; 10445248 |
| **Real Estate–2.0%** |  |  |  |  |
| Iron Mountain, Inc. (Specialized REITs)<br> (a) | 7.000% | 02/15/2029 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 463739 |
| Iron Mountain, Inc. (Specialized REITs)<br> (a) | 6.250% | 01/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204003 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. (Specialized REITs)<br> (a) | 4.250% | 01/15/2029 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 312160 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. (Specialized REITs)<br> (a) | 4.625% | 03/15/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 144164 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. (Specialized REITs)<br> (a) | 7.375% | 02/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210989 |
| RHP Hotel Properties LP / RHP Finance Corp. (Hotel & Resort REITs)<br> (a) | 7.250% | 07/15/2028 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 335276 |
| RHP Hotel Properties LP / RHP Finance Corp. (Hotel & Resort REITs)<br> (a) | 6.500% | 04/01/2032 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 179916 |
| RHP Hotel Properties LP / RHP Finance Corp. (Hotel & Resort REITs)<br> (a) | 6.500% | 06/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25747 |
| VICI Properties LP / VICI Note Co., Inc. (Specialized REITs)<br> (a) | 4.250% | 12/01/2026 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124522 |
| XHR LP (Hotel & Resort REITs)<br> (a) | 6.625% | 05/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 410989 |
|  |  |  |  | &nbsp;&nbsp; 2411505 |
| **Utilities–4.0%** |  |  |  |  |
| Calpine Corp. (Ind. Power & Renewable Elec.)<br> (a) | 4.500% | 02/15/2028 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 323629 |
| Calpine Corp. (Ind. Power & Renewable Elec.)<br> (a) | 5.000% | 02/01/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 124635 |
| Calpine Corp. (Ind. Power & Renewable Elec.)<br> (a) | 3.750% | 03/01/2031 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 309537 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 3.375% | 02/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47266 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 5.750% | 07/15/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200239 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 3.625% | 02/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 46226 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated High Income Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Utilities (continued)** |  |  |  |  |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 3.875% | 02/15/2032 | &nbsp;&nbsp; $95000 | &nbsp;&nbsp; $87546 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 5.750% | 01/15/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24975 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 6.250% | 11/01/2034 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 230646 |
| NRG Energy, Inc. (Electric Utilities)<br> (a) | 6.000% | 01/15/2036 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 175025 |
| Suburban Propane Partners LP / Suburban Energy Finance Corp. (Gas Utilities) | 5.875% | 03/01/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199426 |
| Suburban Propane Partners LP / Suburban Energy Finance Corp. (Gas Utilities)<br> (a) | 5.000% | 06/01/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 118936 |
| TerraForm Power Operating LLC (Ind. Power & Renewable Elec.)<br> (a) | 5.000% | 01/31/2028 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 794226 |
| TransAlta Corp. (Ind. Power & Renewable Elec.) | 7.750% | 11/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 415920 |
| Vistra Operations Co. LLC (Ind. Power & Renewable Elec.)<br> (a) | 5.500% | 09/01/2026 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249804 |
| Vistra Operations Co. LLC (Ind. Power & Renewable Elec.)<br> (a) | 5.000% | 07/31/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199338 |
| Vistra Operations Co. LLC (Ind. Power & Renewable Elec.)<br> (a) | 7.750% | 10/15/2031 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 370367 |
| WBI Operating LLC (Water Utilities)<br> (a) | 6.250% | 10/15/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 150000 |
| WBI Operating LLC (Water Utilities)<br> (a) | 6.500% | 10/15/2033 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99750 |
| XPLR Infrastructure Operating Partners LP (Electric Utilities)<br> (a) | 7.250% | 01/15/2029 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 282349 |
| XPLR Infrastructure Operating Partners LP (Electric Utilities)<br> (a) | 8.375% | 01/15/2031 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 235800 |
| XPLR Infrastructure Operating Partners LP (Electric Utilities)<br> (a) | 8.625% | 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209738 |
|  |  |  |  | &nbsp;&nbsp; 4895378 |
| **Total Corporate Bonds (Cost $118,134,756)** |  |  |  | &nbsp;&nbsp; $118598176 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–0.0%** | **Shares** | **Value** |
| **Communication Services–0.0%** |  |  |
| Audacy, Inc. (Media)<br> (c) | &nbsp;&nbsp; 527 | &nbsp;&nbsp; $10118 |
| **Total Common Stocks (Cost $357,285)** |  | &nbsp;&nbsp; $10118 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Warrants–0.0%** | **Expiration** | **Strike Price** | **Quantity** | **Value** |
| **Communication Services–0.0%** |  |  |  |  |
| Audacy, Inc. Second Lien Warrants (Media)<br> (c) | 09/30/2028 | &nbsp;&nbsp; $77.10 | &nbsp;&nbsp; 106 | &nbsp;&nbsp; $— |
| Audacy, Inc. Second Lien Warrants (with Black-Scholes protections) (Media)<br> (c) | 09/30/2028 | 77.10 | &nbsp;&nbsp; 638 | &nbsp;&nbsp; — |
| **Total Warrants (Cost $215)** |  |  |  | &nbsp;&nbsp; $— |
| **Total Investments – 97.7% (Cost $118,492,256)**<br> (d) |  |  |  | &nbsp;&nbsp; $118608294 |
| **Other Assets in Excess of Liabilities – 2.3%** |  |  |  | &nbsp;&nbsp; 2739336 |
| **Net Assets – 100.0%** |  |  |  | &nbsp;&nbsp; $121347630 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> PIK: Payment-in-Kind <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Security exempt from registration under Regulation D of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, <br> normally to qualified buyers under Rule 144A. At September 30, 2025, the value of these securities totaled $110,265,195, or 90.9% of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Issuer of the security has the option to make coupon payments in cash or in additional par value of this bond (Payment-in-Kind). |
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Nasdaq-100**<sup>®</sup> **Index Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–99.5%** | **Shares** | **Value** |
| **Communication Services–15.3%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 34532 | &nbsp;&nbsp; $8394729 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 32238 | &nbsp;&nbsp; 7851565 |
| Charter Communications, Inc. Class A (Media)<br> (a) | &nbsp;&nbsp; 1989 | &nbsp;&nbsp; 547184 |
| Comcast Corp. Class A (Media) | &nbsp;&nbsp; 53819 | &nbsp;&nbsp; 1690993 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 3650 | &nbsp;&nbsp; 736205 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 12876 | &nbsp;&nbsp; 9455877 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 6207 | &nbsp;&nbsp; 7441696 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 2691 | &nbsp;&nbsp; 695247 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 16440 | &nbsp;&nbsp; 3935407 |
| Trade Desk, Inc. / The Class A (Media)<br> (a) | &nbsp;&nbsp; 6548 | &nbsp;&nbsp; 320917 |
| Warner Bros. Discovery, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 36118 | &nbsp;&nbsp; 705385 |
|  |  | &nbsp;&nbsp; 41775205 |
| **Consumer Discretionary–13.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 6264 | &nbsp;&nbsp; 760575 |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 63312 | &nbsp;&nbsp; 13901416 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 473 | &nbsp;&nbsp; 2553855 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 5878 | &nbsp;&nbsp; 1598757 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 1686 | &nbsp;&nbsp; 299990 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 3966 | &nbsp;&nbsp; 1032905 |
| MercadoLibre, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 741 | &nbsp;&nbsp; 1731672 |
| O'Reilly Automotive, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 12397 | &nbsp;&nbsp; 1336521 |
| PDD Holdings, Inc. – ADR (Broadline Retail)<br> (a) | &nbsp;&nbsp; 9755 | &nbsp;&nbsp; 1289318 |
| Ross Stores, Inc. (Specialty Retail) | &nbsp;&nbsp; 4772 | &nbsp;&nbsp; 727205 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 16603 | &nbsp;&nbsp; 1404614 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 21638 | &nbsp;&nbsp; 9622851 |
|  |  | &nbsp;&nbsp; 36259679 |
| **Consumer Staples–4.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC <br> (Beverages)<br>| &nbsp;&nbsp; 6676 | &nbsp;&nbsp; 603577 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 6478 | &nbsp;&nbsp; 5996231 |
| Keurig Dr Pepper, Inc. (Beverages) | &nbsp;&nbsp; 19762 | &nbsp;&nbsp; 504129 |
| Kraft Heinz Co. / The (Food Products) | &nbsp;&nbsp; 17389 | &nbsp;&nbsp; 452810 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc. Class A <br> (Food Products)<br>| &nbsp;&nbsp; 18907 | &nbsp;&nbsp; 1181120 |
| Monster Beverage Corp. (Beverages)<br> (a) | &nbsp;&nbsp; 14270 | &nbsp;&nbsp; 960514 |
| PepsiCo, Inc. (Beverages) | &nbsp;&nbsp; 20003 | &nbsp;&nbsp; 2809221 |
|  |  | &nbsp;&nbsp; 12507602 |
| **Energy–0.5%** |  |  |
| Baker Hughes Co. (Energy Equip. & Svs.) | &nbsp;&nbsp; 14386 | &nbsp;&nbsp; 700886 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 4219 | &nbsp;&nbsp; 603739 |
|  |  | &nbsp;&nbsp; 1304625 |
| **Financials–0.3%** |  |  |
| PayPal Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 13962 | &nbsp;&nbsp; 936292 |
| **Health Care–4.2%** |  |  |
| Amgen, Inc. (Biotechnology) | &nbsp;&nbsp; 7863 | &nbsp;&nbsp; 2218939 |
| AstraZeneca PLC – ADR (Pharmaceuticals) | &nbsp;&nbsp; 8563 | &nbsp;&nbsp; 656953 |
| Biogen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2154 | &nbsp;&nbsp; 301732 |
| Dexcom, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 5762 | &nbsp;&nbsp; 387725 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 6639 | &nbsp;&nbsp; 498589 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 18124 | &nbsp;&nbsp; 2011764 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1167 | &nbsp;&nbsp; 745585 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 5236 | &nbsp;&nbsp; 2341696 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 1521 | &nbsp;&nbsp; 855213 |
| Vertex Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3745 | &nbsp;&nbsp; 1466692 |
|  |  | &nbsp;&nbsp; 11484888 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials–4.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 5920 | &nbsp;&nbsp; $1737520 |
| Axon Enterprise, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1146 | &nbsp;&nbsp; 822415 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5893 | &nbsp;&nbsp; 1209597 |
| Copart, Inc. (Commercial Svs. & Supplies)<br> (a) | &nbsp;&nbsp; 14095 | &nbsp;&nbsp; 633852 |
| CSX Corp. (Ground Transportation) | &nbsp;&nbsp; 27243 | &nbsp;&nbsp; 967399 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 16758 | &nbsp;&nbsp; 821812 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 9277 | &nbsp;&nbsp; 1952809 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 3052 | &nbsp;&nbsp; 429661 |
| PACCAR, Inc. (Machinery) | &nbsp;&nbsp; 7665 | &nbsp;&nbsp; 753623 |
| Paychex, Inc. (Professional Svs.) | &nbsp;&nbsp; 5244 | &nbsp;&nbsp; 664729 |
| Thomson Reuters Corp. (Professional Svs.) | &nbsp;&nbsp; 6584 | &nbsp;&nbsp; 1022693 |
| Verisk Analytics, Inc. (Professional Svs.) | &nbsp;&nbsp; 2053 | &nbsp;&nbsp; 516350 |
|  |  | &nbsp;&nbsp; 11532460 |
| **Information Technology–54.4%** |  |  |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6196 | &nbsp;&nbsp; 2185639 |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 23701 | &nbsp;&nbsp; 3834585 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 7185 | &nbsp;&nbsp; 1765355 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 88102 | &nbsp;&nbsp; 22433412 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 11634 | &nbsp;&nbsp; 2381945 |
| AppLovin Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 4493 | &nbsp;&nbsp; 3228400 |
| &nbsp;&nbsp;&nbsp; ARM Holdings PLC – ADR (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 2007 | &nbsp;&nbsp; 283970 |
| ASML Holding N.V. (Semiconductors & Equip.) | &nbsp;&nbsp; 1237 | &nbsp;&nbsp; 1197527 |
| Atlassian Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 2443 | &nbsp;&nbsp; 390147 |
| Autodesk, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3127 | &nbsp;&nbsp; 993354 |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 46181 | &nbsp;&nbsp; 15235574 |
| Cadence Design Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3981 | &nbsp;&nbsp; 1398366 |
| CDW Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 1896 | &nbsp;&nbsp; 301995 |
| Cisco Systems, Inc. (Communications Equip.) | &nbsp;&nbsp; 57848 | &nbsp;&nbsp; 3957960 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. Class A <br> (IT Svs.)<br>| &nbsp;&nbsp; 7101 | &nbsp;&nbsp; 476264 |
| Crowdstrike Holdings, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 3666 | &nbsp;&nbsp; 1797733 |
| Datadog, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 4714 | &nbsp;&nbsp; 671274 |
| Fortinet, Inc. (Software)<br> (a) | &nbsp;&nbsp; 11193 | &nbsp;&nbsp; 941107 |
| &nbsp;&nbsp;&nbsp; GLOBALFOUNDRIES, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 8154 | &nbsp;&nbsp; 292239 |
| Intel Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 63927 | &nbsp;&nbsp; 2144751 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 4075 | &nbsp;&nbsp; 2782858 |
| KLA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 1927 | &nbsp;&nbsp; 2078462 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 18485 | &nbsp;&nbsp; 2475142 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 12590 | &nbsp;&nbsp; 1058441 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 7851 | &nbsp;&nbsp; 504191 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 16345 | &nbsp;&nbsp; 2734845 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 44128 | &nbsp;&nbsp; 22856098 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 144258 | &nbsp;&nbsp; 26915658 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors N.V. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 3682 | &nbsp;&nbsp; 838502 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 6009 | &nbsp;&nbsp; 296304 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 33218 | &nbsp;&nbsp; 6059628 |
| Palo Alto Networks, Inc. (Software)<br> (a) | &nbsp;&nbsp; 9770 | &nbsp;&nbsp; 1989367 |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 15759 | &nbsp;&nbsp; 2621667 |
| Roper Technologies, Inc. (Software) | &nbsp;&nbsp; 1571 | &nbsp;&nbsp; 783442 |
| Shopify, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 17826 | &nbsp;&nbsp; 2649122 |
| Strategy, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3855 | &nbsp;&nbsp; 1242120 |
| Synopsys, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2703 | &nbsp;&nbsp; 1333633 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 13278 | &nbsp;&nbsp; 2439567 |
| Workday, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 3168 | &nbsp;&nbsp; 762633 |
| Zscaler, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2271 | &nbsp;&nbsp; 680528 |
|  |  | &nbsp;&nbsp; 149013805 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Nasdaq-100**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Materials–1.2%** |  |  |
| Linde PLC (Chemicals) | &nbsp;&nbsp; 6851 | &nbsp;&nbsp; $3254225 |
| **Real Estate–0.2%** |  |  |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 6165 | &nbsp;&nbsp; 520141 |
| **Utilities–1.4%** |  |  |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. <br> (Electric Utilities)<br>| &nbsp;&nbsp; 7811 | &nbsp;&nbsp; 878738 |
| Constellation Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 4564 | &nbsp;&nbsp; 1501875 |
| Exelon Corp. (Electric Utilities) | &nbsp;&nbsp; 14726 | &nbsp;&nbsp; 662817 |
| Xcel Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 8626 | &nbsp;&nbsp; 695687 |
|  |  | &nbsp;&nbsp; 3739117 |
| **Total Common Stocks (Cost $145,689,467)** |  | &nbsp;&nbsp; $272328039 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–0.0%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bill<br> (b) | 0.000% | 11/13/2025 | &nbsp;&nbsp; $85000 | &nbsp;&nbsp; $84592 |
| **Total U.S. Treasury Obligations (Cost $84,582)** | **Total U.S. Treasury Obligations (Cost $84,582)** | **Total U.S. Treasury Obligations (Cost $84,582)** | **Total U.S. Treasury Obligations (Cost $84,582)** | &nbsp;&nbsp; $84592 |
| **Total Investments – 99.5% (Cost $145,774,049)** | **Total Investments – 99.5% (Cost $145,774,049)** | **Total Investments – 99.5% (Cost $145,774,049)** | (c) | &nbsp;&nbsp; $272412631 |
| **Other Assets in Excess of Liabilities – 0.5%** | **Other Assets in Excess of Liabilities – 0.5%** | **Other Assets in Excess of Liabilities – 0.5%** | (b) | &nbsp;&nbsp; 1275682 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $273688313 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR: American Depositary Receipts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security is fully pledged, in addition to $67,624 of the Portfolio's cash holdings, as collateral for the futures contracts outstanding at September 30, 2025. See also <br> the following Schedule of Open Futures Contracts.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini Nasdaq-100 Index - Long | 5 | December 19, 2025 | &nbsp;&nbsp; $2476931 | &nbsp;&nbsp; $2490175 | &nbsp;&nbsp; $13244 | &nbsp;&nbsp; $6400 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$2476931** | &nbsp;&nbsp; **$2490175** | &nbsp;&nbsp; **$13244** | &nbsp;&nbsp; **$6400** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Core Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–100.3%** | **Shares** | **Value** |
| **Communication Services–10.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 34777 | &nbsp;&nbsp; $8454289 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 27634 | &nbsp;&nbsp; 6730261 |
| Comcast Corp. Class A (Media) | &nbsp;&nbsp; 72304 | &nbsp;&nbsp; 2271791 |
| Fox Corp. Class B (Media) | &nbsp;&nbsp; 807 | &nbsp;&nbsp; 46233 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 14248 | &nbsp;&nbsp; 10463446 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 3016 | &nbsp;&nbsp; 3615943 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 4805 | &nbsp;&nbsp; 1241420 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 4472 | &nbsp;&nbsp; 1070507 |
|  |  | &nbsp;&nbsp; 33893890 |
| **Consumer Discretionary–10.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 8246 | &nbsp;&nbsp; 1001229 |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 68794 | &nbsp;&nbsp; 15105099 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 448 | &nbsp;&nbsp; 2418873 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 36207 | &nbsp;&nbsp; 1591660 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 9492 | &nbsp;&nbsp; 371991 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 3515 | &nbsp;&nbsp; 669115 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 1864 | &nbsp;&nbsp; 458954 |
| Hasbro, Inc. (Leisure Products) | &nbsp;&nbsp; 7043 | &nbsp;&nbsp; 534212 |
| Home Depot, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 5248 | &nbsp;&nbsp; 2126437 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 3642 | &nbsp;&nbsp; 1106767 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 3392 | &nbsp;&nbsp; 1063596 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 13185 | &nbsp;&nbsp; 5863633 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 21289 | &nbsp;&nbsp; 3077112 |
| Toll Brothers, Inc. (Household Durables) | &nbsp;&nbsp; 6363 | &nbsp;&nbsp; 878985 |
|  |  | &nbsp;&nbsp; 36267663 |
| **Consumer Staples–4.6%** |  |  |
| Coca-Cola Co. / The (Beverages) | &nbsp;&nbsp; 7731 | &nbsp;&nbsp; 512720 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 3841 | &nbsp;&nbsp; 3555345 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 12858 | &nbsp;&nbsp; 2085568 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. / The <br> (Household Products)<br>| &nbsp;&nbsp; 18964 | &nbsp;&nbsp; 2913818 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 59617 | &nbsp;&nbsp; 6144128 |
|  |  | &nbsp;&nbsp; 15211579 |
| **Energy–2.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 82833 | &nbsp;&nbsp; 2904125 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 8573 | &nbsp;&nbsp; 966606 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 36295 | &nbsp;&nbsp; 1027511 |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 11158 | &nbsp;&nbsp; 450560 |
| Schlumberger N.V. (Energy Equip. & Svs.) | &nbsp;&nbsp; 29486 | &nbsp;&nbsp; 1013434 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 3597 | &nbsp;&nbsp; 602641 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. / The (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 15460 | &nbsp;&nbsp; 979391 |
|  |  | &nbsp;&nbsp; 7944268 |
| **Financials–13.7%** |  |  |
| American Express Co. (Consumer Finance) | &nbsp;&nbsp; 3651 | &nbsp;&nbsp; 1212716 |
| Bank of America Corp. (Banks) | &nbsp;&nbsp; 104449 | &nbsp;&nbsp; 5388524 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Class B <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 8860 | &nbsp;&nbsp; 4454276 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 7944 | &nbsp;&nbsp; 1357232 |
| Charles Schwab Corp. / The (Capital Markets) | &nbsp;&nbsp; 46900 | &nbsp;&nbsp; 4477543 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| Citigroup, Inc. (Banks) | &nbsp;&nbsp; 12718 | &nbsp;&nbsp; $1290877 |
| CME Group, Inc. (Capital Markets) | &nbsp;&nbsp; 8808 | &nbsp;&nbsp; 2379834 |
| Huntington Bancshares, Inc. (Banks) | &nbsp;&nbsp; 37824 | &nbsp;&nbsp; 653220 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 8481 | &nbsp;&nbsp; 1428879 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 16564 | &nbsp;&nbsp; 5224783 |
| Klarna Group PLC (Financial Services)<br> (a) | &nbsp;&nbsp; 2770 | &nbsp;&nbsp; 101521 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 5251 | &nbsp;&nbsp; 2986821 |
| Moody's Corp. (Capital Markets) | &nbsp;&nbsp; 3141 | &nbsp;&nbsp; 1496624 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 30390 | &nbsp;&nbsp; 4830794 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 8742 | &nbsp;&nbsp; 773230 |
| Progressive Corp. / The (Insurance) | &nbsp;&nbsp; 6770 | &nbsp;&nbsp; 1671852 |
| Travelers Cos., Inc. / The (Insurance) | &nbsp;&nbsp; 10578 | &nbsp;&nbsp; 2953589 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 8246 | &nbsp;&nbsp; 2815019 |
|  |  | &nbsp;&nbsp; 45497334 |
| **Health Care–9.2%** |  |  |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 11311 | &nbsp;&nbsp; 2618949 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 17535 | &nbsp;&nbsp; 1711942 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | &nbsp;&nbsp; 55781 | &nbsp;&nbsp; 2515723 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 20100 | &nbsp;&nbsp; 3154896 |
| Centene Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 13212 | &nbsp;&nbsp; 471404 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 5622 | &nbsp;&nbsp; 4289586 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 16509 | &nbsp;&nbsp; 1832499 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1540 | &nbsp;&nbsp; 688734 |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 8845 | &nbsp;&nbsp; 1640040 |
| Medtronic PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 28220 | &nbsp;&nbsp; 2687673 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4310 | &nbsp;&nbsp; 693781 |
| Pfizer, Inc. (Pharmaceuticals) | &nbsp;&nbsp; 112803 | &nbsp;&nbsp; 2874221 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 5341 | &nbsp;&nbsp; 3003084 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 7594 | &nbsp;&nbsp; 2622208 |
|  |  | &nbsp;&nbsp; 30804740 |
| **Industrials–9.0%** |  |  |
| AMETEK, Inc. (Electrical Equip.) | &nbsp;&nbsp; 9855 | &nbsp;&nbsp; 1852740 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 1984 | &nbsp;&nbsp; 517923 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 12830 | &nbsp;&nbsp; 2633486 |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 1970 | &nbsp;&nbsp; 1625605 |
| Delta Air Lines, Inc. (Passenger Airlines) | &nbsp;&nbsp; 12237 | &nbsp;&nbsp; 694450 |
| FedEx Corp. (Air Freight & Logistics) | &nbsp;&nbsp; 11618 | &nbsp;&nbsp; 2739641 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. (Trading Companies <br> & Distributors)<br>| &nbsp;&nbsp; 2741 | &nbsp;&nbsp; 615574 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 18843 | &nbsp;&nbsp; 1001317 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 1403 | &nbsp;&nbsp; 478423 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 5488 | &nbsp;&nbsp; 1650900 |
| HEICO Corp. Class A (Aerospace & Defense) | &nbsp;&nbsp; 1916 | &nbsp;&nbsp; 486836 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 9398 | &nbsp;&nbsp; 1978279 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC <br> (Building Products)<br>| &nbsp;&nbsp; 3453 | &nbsp;&nbsp; 379657 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 2350 | &nbsp;&nbsp; 1173144 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 5063 | &nbsp;&nbsp; 1077457 |
| Mueller Industries, Inc. (Machinery) | &nbsp;&nbsp; 13955 | &nbsp;&nbsp; 1410990 |
| Parker-Hannifin Corp. (Machinery) | &nbsp;&nbsp; 3671 | &nbsp;&nbsp; 2783169 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 6161 | &nbsp;&nbsp; 1030920 |
| Trane Technologies PLC (Building Products) | &nbsp;&nbsp; 2731 | &nbsp;&nbsp; 1152373 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 6090 | &nbsp;&nbsp; 596637 |
| Union Pacific Corp. (Ground Transportation) | &nbsp;&nbsp; 11585 | &nbsp;&nbsp; 2738346 |
| &nbsp;&nbsp;&nbsp; Waste Connections, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 3111 | &nbsp;&nbsp; 546914 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Core Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 2023 | &nbsp;&nbsp; $446739 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 2035 | &nbsp;&nbsp; 407956 |
|  |  | &nbsp;&nbsp; 30019476 |
| **Information Technology–35.5%** |  |  |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5453 | &nbsp;&nbsp; 1923546 |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 3570 | &nbsp;&nbsp; 577590 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. Class A (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 24426 | &nbsp;&nbsp; 3022718 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 97550 | &nbsp;&nbsp; 24839156 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 10670 | &nbsp;&nbsp; 1554726 |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 26921 | &nbsp;&nbsp; 8881507 |
| Elastic N.V. (Software)<br> (a) | &nbsp;&nbsp; 7162 | &nbsp;&nbsp; 605117 |
| Figma, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1855 | &nbsp;&nbsp; 96219 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 859 | &nbsp;&nbsp; 401840 |
| Intel Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 17716 | &nbsp;&nbsp; 594372 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 2978 | &nbsp;&nbsp; 2033706 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 33568 | &nbsp;&nbsp; 4494755 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 4442 | &nbsp;&nbsp; 743235 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 50743 | &nbsp;&nbsp; 26282337 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. <br> (Communications Equip.)<br>| &nbsp;&nbsp; 4847 | &nbsp;&nbsp; 2216485 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 160639 | &nbsp;&nbsp; 29972024 |
| Oracle Corp. (Software) | &nbsp;&nbsp; 4318 | &nbsp;&nbsp; 1214394 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 13657 | &nbsp;&nbsp; 2491310 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 13187 | &nbsp;&nbsp; $2193789 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 12255 | &nbsp;&nbsp; 2904435 |
| ServiceNow, Inc. (Software)<br> (a) | &nbsp;&nbsp; 1084 | &nbsp;&nbsp; 997584 |
|  |  | &nbsp;&nbsp; 118040845 |
| **Materials–1.2%** |  |  |
| Corteva, Inc. (Chemicals) | &nbsp;&nbsp; 31756 | &nbsp;&nbsp; 2147658 |
| DuPont de Nemours, Inc. (Chemicals) | &nbsp;&nbsp; 9291 | &nbsp;&nbsp; 723769 |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp; 15440 | &nbsp;&nbsp; 1301747 |
|  |  | &nbsp;&nbsp; 4173174 |
| **Real Estate–1.5%** |  |  |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 10287 | &nbsp;&nbsp; 418269 |
| Equinix, Inc. (Specialized REITs) | &nbsp;&nbsp; 2677 | &nbsp;&nbsp; 2096734 |
| Simon Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 12946 | &nbsp;&nbsp; 2429576 |
|  |  | &nbsp;&nbsp; 4944579 |
| **Utilities–2.1%** |  |  |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 11415 | &nbsp;&nbsp; 1147436 |
| Edison International (Electric Utilities) | &nbsp;&nbsp; 10176 | &nbsp;&nbsp; 562529 |
| Entergy Corp. (Electric Utilities) | &nbsp;&nbsp; 42379 | &nbsp;&nbsp; 3949299 |
| NRG Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 3106 | &nbsp;&nbsp; 503017 |
| PG&E Corp. (Electric Utilities) | &nbsp;&nbsp; 53999 | &nbsp;&nbsp; 814305 |
|  |  | &nbsp;&nbsp; 6976586 |
| **Total Common Stocks (Cost $233,774,388)** |  | &nbsp;&nbsp; $333774134 |
| **Total Investments – 100.3% (Cost $233,774,388)**<br> (b) |  | &nbsp;&nbsp; $333774134 |
| **Liabilities in Excess of Other Assets – (0.3)%**<br> (c) |  | &nbsp;&nbsp; (930680)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $332843454 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Includes $125,564 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P 500 Index - Long | 6 | December 19, 2025 | &nbsp;&nbsp; $1993771 | &nbsp;&nbsp; $2021625 | &nbsp;&nbsp; $27854 | &nbsp;&nbsp; $4193 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$1993771** | &nbsp;&nbsp; **$2021625** | &nbsp;&nbsp; **$27854** | &nbsp;&nbsp; **$4193** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–99.4%** | **Shares** | **Value** |
| **Communication Services–2.5%** |  |  |
| Cargurus, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 735 | &nbsp;&nbsp; $27364 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc. <br> (Diversified Telecom. Svs.)<br>| &nbsp;&nbsp; 2382 | &nbsp;&nbsp; 91350 |
| Eventbrite, Inc. Class A (Entertainment)<br> (a) | &nbsp;&nbsp; 9898 | &nbsp;&nbsp; 24943 |
| &nbsp;&nbsp;&nbsp; EverQuote, Inc. Class A (Interactive Media & <br> Svs.)<br>(a) | &nbsp;&nbsp; 10194 | &nbsp;&nbsp; 233137 |
| fuboTV, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 6371 | &nbsp;&nbsp; 26440 |
| Globalstar, Inc. (Diversified Telecom. Svs.)<br> (a) | &nbsp;&nbsp; 1757 | &nbsp;&nbsp; 63937 |
| Gogo, Inc. (Wireless Telecom. Svs.)<br> (a) | &nbsp;&nbsp; 2240 | &nbsp;&nbsp; 19242 |
| Grindr, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 19810 | &nbsp;&nbsp; 297546 |
| IDT Corp. Class B (Diversified Telecom. Svs.) | &nbsp;&nbsp; 3782 | &nbsp;&nbsp; 197836 |
| Integral Ad Science Holding Corp. (Media)<br> (a) | &nbsp;&nbsp; 8525 | &nbsp;&nbsp; 86699 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. (Diversified <br> Telecom. Svs.)<br>(a) | &nbsp;&nbsp; 75731 | &nbsp;&nbsp; 463474 |
| Magnite, Inc. (Media)<br> (a) | &nbsp;&nbsp; 15956 | &nbsp;&nbsp; 347522 |
| &nbsp;&nbsp;&nbsp; MediaAlpha, Inc. Class A (Interactive Media & <br> Svs.)<br>(a) | &nbsp;&nbsp; 6954 | &nbsp;&nbsp; 79137 |
| New York Times Co. / The Class A (Media) | &nbsp;&nbsp; 2111 | &nbsp;&nbsp; 121171 |
| NIQ Global Intelligence PLC (Media)<br> (a) | &nbsp;&nbsp; 5608 | &nbsp;&nbsp; 88046 |
| QuinStreet, Inc. (Interactive Media & Svs.)<br> (a) | &nbsp;&nbsp; 25284 | &nbsp;&nbsp; 391143 |
| Reservoir Media, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 8844 | &nbsp;&nbsp; 71990 |
| Roku, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 3709 | &nbsp;&nbsp; 371382 |
| Shutterstock, Inc. (Interactive Media & Svs.) | &nbsp;&nbsp; 6014 | &nbsp;&nbsp; 125392 |
| Spok Holdings, Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 6040 | &nbsp;&nbsp; 104190 |
| &nbsp;&nbsp;&nbsp; ZipRecruiter, Inc. Class A (Interactive Media & <br> Svs.)<br>(a) | &nbsp;&nbsp; 31714 | &nbsp;&nbsp; 133833 |
|  |  | &nbsp;&nbsp; 3365774 |
| **Consumer Discretionary–10.6%** |  |  |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co. Class A <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 3395 | &nbsp;&nbsp; 290442 |
| &nbsp;&nbsp;&nbsp; Accel Entertainment, Inc. (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 2189 | &nbsp;&nbsp; 24232 |
| Adient PLC (Automobile Components)<br> (a) | &nbsp;&nbsp; 8009 | &nbsp;&nbsp; 192857 |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 3380 | &nbsp;&nbsp; 522041 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings, Inc. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 2928 | &nbsp;&nbsp; 17597 |
| &nbsp;&nbsp;&nbsp; American Public Education, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 462 | &nbsp;&nbsp; 18235 |
| Arhaus, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2798 | &nbsp;&nbsp; 29743 |
| AutoNation, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 255 | &nbsp;&nbsp; 55786 |
| &nbsp;&nbsp;&nbsp; Black Rock Coffee Bar, Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 1905 | &nbsp;&nbsp; 45453 |
| Boot Barn Holdings, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 3354 | &nbsp;&nbsp; 555825 |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 11527 | &nbsp;&nbsp; 506727 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc. <br> (Diversified Consumer Svs.)<br>(a) | &nbsp;&nbsp; 2234 | &nbsp;&nbsp; 242545 |
| &nbsp;&nbsp;&nbsp; Brinker International, Inc. (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 5181 | &nbsp;&nbsp; 656329 |
| &nbsp;&nbsp;&nbsp; Build-A-Bear Workshop, Inc. <br> (Specialty Retail)<br>| &nbsp;&nbsp; 1063 | &nbsp;&nbsp; 69318 |
| &nbsp;&nbsp;&nbsp; Camping World Holdings, Inc. Class A <br> (Specialty Retail)<br>| &nbsp;&nbsp; 12171 | &nbsp;&nbsp; 192180 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 3626 | &nbsp;&nbsp; 229780 |
| Champion Homes, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 6367 | &nbsp;&nbsp; 486248 |
| Coursera, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 30658 | &nbsp;&nbsp; 359005 |
| Dana, Inc. (Automobile Components) | &nbsp;&nbsp; 934 | &nbsp;&nbsp; 18717 |
| &nbsp;&nbsp;&nbsp; Dutch Bros, Inc. Class A (Hotels, Restaurants <br> & Leisure)<br>(a) | &nbsp;&nbsp; 5363 | &nbsp;&nbsp; 280700 |
| Etsy, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 3718 | &nbsp;&nbsp; 246838 |
| EVgo, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 7681 | &nbsp;&nbsp; 36331 |
| Five Below, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 433 | &nbsp;&nbsp; 66985 |
| &nbsp;&nbsp;&nbsp; Fox Factory Holding Corp. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 4196 | &nbsp;&nbsp; 101921 |
| Frontdoor, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 9185 | &nbsp;&nbsp; 618059 |
| Garrett Motion, Inc. (Automobile Components) | &nbsp;&nbsp; 6179 | &nbsp;&nbsp; 84158 |
| &nbsp;&nbsp;&nbsp; Genius Sports Ltd. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 8458 | &nbsp;&nbsp; 104710 |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc. Class A <br> (Distributors)<br>(a) | &nbsp;&nbsp; 2114 | &nbsp;&nbsp; 60038 |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group Ltd. (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 1428 | &nbsp;&nbsp; 37999 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Discretionary (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Green Brick Partners, Inc. <br> (Household Durables)<br>(a) | &nbsp;&nbsp; 1232 | &nbsp;&nbsp; $90996 |
| Group 1 Automotive, Inc. (Specialty Retail) | &nbsp;&nbsp; 1357 | &nbsp;&nbsp; 593701 |
| Groupon, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 5326 | &nbsp;&nbsp; 124362 |
| Hasbro, Inc. (Leisure Products) | &nbsp;&nbsp; 6598 | &nbsp;&nbsp; 500458 |
| Haverty Furniture Cos., Inc. (Specialty Retail) | &nbsp;&nbsp; 2773 | &nbsp;&nbsp; 60812 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 1376 | &nbsp;&nbsp; 339404 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 1471 | &nbsp;&nbsp; 117342 |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 7632 | &nbsp;&nbsp; 240713 |
| &nbsp;&nbsp;&nbsp; Levi Strauss & Co. Class A (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 2180 | &nbsp;&nbsp; 50794 |
| &nbsp;&nbsp;&nbsp; Life Time Group Holdings, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 20592 | &nbsp;&nbsp; 568339 |
| Lithia Motors, Inc. (Specialty Retail) | &nbsp;&nbsp; 596 | &nbsp;&nbsp; 188336 |
| M/I (Household Durables)<br> (a) | &nbsp;&nbsp; 310 | &nbsp;&nbsp; 44776 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 3201 | &nbsp;&nbsp; 455054 |
| Newell Brands, Inc. (Household Durables) | &nbsp;&nbsp; 19660 | &nbsp;&nbsp; 103019 |
| &nbsp;&nbsp;&nbsp; Peloton Interactive, Inc. Class A <br> (Leisure Products)<br>(a) | &nbsp;&nbsp; 31523 | &nbsp;&nbsp; 283707 |
| &nbsp;&nbsp;&nbsp; QuantumScape Corp. <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 4510 | &nbsp;&nbsp; 55563 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 114 | &nbsp;&nbsp; 35746 |
| RealReal, Inc. / The (Specialty Retail)<br> (a) | &nbsp;&nbsp; 6341 | &nbsp;&nbsp; 67405 |
| Revolve Group, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2891 | &nbsp;&nbsp; 61578 |
| &nbsp;&nbsp;&nbsp; Rush Street Interactive, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 28972 | &nbsp;&nbsp; 593347 |
| &nbsp;&nbsp;&nbsp; Shake Shack, Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 4033 | &nbsp;&nbsp; 377529 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc. Class A <br> (Specialty Retail)<br>| &nbsp;&nbsp; 4724 | &nbsp;&nbsp; 359449 |
| Sonos, Inc. (Household Durables)<br> (a) | &nbsp;&nbsp; 3823 | &nbsp;&nbsp; 60403 |
| &nbsp;&nbsp;&nbsp; Standard Motor Products, Inc. <br> (Automobile Components)<br>| &nbsp;&nbsp; 1159 | &nbsp;&nbsp; 47310 |
| Stitch Fix, Inc. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 14844 | &nbsp;&nbsp; 64571 |
| Stoneridge, Inc. (Automobile Components)<br> (a) | &nbsp;&nbsp; 2614 | &nbsp;&nbsp; 19919 |
| Stride, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 5213 | &nbsp;&nbsp; 776424 |
| &nbsp;&nbsp;&nbsp; Super Group SGHC Ltd. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 5455 | &nbsp;&nbsp; 72006 |
| &nbsp;&nbsp;&nbsp; Target Hospitality Corp. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 1603 | &nbsp;&nbsp; 13594 |
| ThredUp, Inc. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 9104 | &nbsp;&nbsp; 86033 |
| Toll Brothers, Inc. (Household Durables) | &nbsp;&nbsp; 1416 | &nbsp;&nbsp; 195606 |
| Udemy, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 7417 | &nbsp;&nbsp; 51993 |
| &nbsp;&nbsp;&nbsp; Universal Technical Institute, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 8163 | &nbsp;&nbsp; 265706 |
| Urban Outfitters, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 3985 | &nbsp;&nbsp; 284649 |
| Victoria's Secret & Co. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 758 | &nbsp;&nbsp; 20572 |
| Warby Parker, Inc. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 15460 | &nbsp;&nbsp; 426387 |
| Wayfair, Inc. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2006 | &nbsp;&nbsp; 179196 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. (Textiles, Apparel <br> & Luxury Goods)<br>| &nbsp;&nbsp; 2009 | &nbsp;&nbsp; 55127 |
|  |  | &nbsp;&nbsp; 14082725 |
| **Consumer Staples–1.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. / The (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 1304 | &nbsp;&nbsp; 51912 |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. (Personal Care <br> Products)<br>(a) | &nbsp;&nbsp; 2468 | &nbsp;&nbsp; 89712 |
| &nbsp;&nbsp;&nbsp; Boston Beer Co., Inc. / The Class A <br> (Beverages)<br>(a) | &nbsp;&nbsp; 355 | &nbsp;&nbsp; 75054 |
| Cal-Maine Foods, Inc. (Food Products) | &nbsp;&nbsp; 3834 | &nbsp;&nbsp; 360779 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co. <br> (Household Products)<br>(a) | &nbsp;&nbsp; 1090 | &nbsp;&nbsp; 35589 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc. / The (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 605 | &nbsp;&nbsp; 35290 |
| &nbsp;&nbsp;&nbsp; Guardian Pharmacy Services, Inc. Class A <br> (Consumer Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 3761 | &nbsp;&nbsp; 98651 |
| Marzetti Company / The (Food Products) | &nbsp;&nbsp; 1491 | &nbsp;&nbsp; 257630 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Staples (continued)** |  |  |
| National Beverage Corp. (Beverages)<br> (a) | &nbsp;&nbsp; 703 | &nbsp;&nbsp; $25955 |
| &nbsp;&nbsp;&nbsp; Natural Grocers by Vitamin Cottage, Inc. <br> (Consumer Staples Distribution & Retail)<br>| &nbsp;&nbsp; 433 | &nbsp;&nbsp; 17320 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 1643 | &nbsp;&nbsp; 199115 |
| Primo Brands Corp. (Beverages) | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 203320 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 4416 | &nbsp;&nbsp; 480461 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 4044 | &nbsp;&nbsp; 152135 |
| Vita Coco Co., Inc. / The (Beverages)<br> (a) | &nbsp;&nbsp; 3642 | &nbsp;&nbsp; 154676 |
| Vital Farms, Inc. (Food Products)<br> (a) | &nbsp;&nbsp; 3623 | &nbsp;&nbsp; 149086 |
|  |  | &nbsp;&nbsp; 2386685 |
| **Energy–2.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 6225 | &nbsp;&nbsp; 208911 |
| Archrock, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 9655 | &nbsp;&nbsp; 254023 |
| &nbsp;&nbsp;&nbsp; Ardmore Shipping Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 2342 | &nbsp;&nbsp; 27800 |
| &nbsp;&nbsp;&nbsp; Aris Water Solutions, Inc. Class A (Energy <br> Equip. & Svs.)<br>| &nbsp;&nbsp; 3858 | &nbsp;&nbsp; 95138 |
| Borr Drilling Ltd. (Energy Equip. & Svs.) | &nbsp;&nbsp; 17670 | &nbsp;&nbsp; 47532 |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp. Class A (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 1063 | &nbsp;&nbsp; 329604 |
| &nbsp;&nbsp;&nbsp; Clean Energy Fuels Corp. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 10637 | &nbsp;&nbsp; 27444 |
| &nbsp;&nbsp;&nbsp; Delek U.S. Holdings, Inc. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 4977 | &nbsp;&nbsp; 160608 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc. (Energy Equip. <br> & Svs.)<br>(a) | &nbsp;&nbsp; 20445 | &nbsp;&nbsp; 506627 |
| &nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 936 | &nbsp;&nbsp; 33153 |
| &nbsp;&nbsp;&nbsp; REX American Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 3834 | &nbsp;&nbsp; 117397 |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 14858 | &nbsp;&nbsp; 371004 |
| Smart Sand, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 47289 | &nbsp;&nbsp; 101199 |
| &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, Inc. (Energy <br> Equip. & Svs.)<br>| &nbsp;&nbsp; 599 | &nbsp;&nbsp; 23942 |
| &nbsp;&nbsp;&nbsp; Uranium Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | &nbsp;&nbsp; 34414 | &nbsp;&nbsp; 459083 |
|  |  | &nbsp;&nbsp; 2763465 |
| **Financials–8.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 9157 | &nbsp;&nbsp; 441001 |
| Accelerant Holdings Class A (Insurance)<br> (a) | &nbsp;&nbsp; 5841 | &nbsp;&nbsp; 86972 |
| Affirm Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 1303 | &nbsp;&nbsp; 95223 |
| Axos Financial, Inc. (Banks)<br> (a) | &nbsp;&nbsp; 559 | &nbsp;&nbsp; 47319 |
| Bank7 Corp. (Banks) | &nbsp;&nbsp; 2640 | &nbsp;&nbsp; 122153 |
| BGC Group, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 31791 | &nbsp;&nbsp; 300743 |
| Bullish (Capital Markets)<br> (a) | &nbsp;&nbsp; 3090 | &nbsp;&nbsp; 196555 |
| Community West Bancshares (Banks) | &nbsp;&nbsp; 5611 | &nbsp;&nbsp; 116933 |
| Crawford & Co. Class A (Insurance) | &nbsp;&nbsp; 15036 | &nbsp;&nbsp; 160885 |
| Dave, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 489 | &nbsp;&nbsp; 97482 |
| Donegal Group, Inc. Class A (Insurance) | &nbsp;&nbsp; 4560 | &nbsp;&nbsp; 88418 |
| Enova International, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 4970 | &nbsp;&nbsp; 571997 |
| EVERTEC, Inc. (Financial Services) | &nbsp;&nbsp; 5790 | &nbsp;&nbsp; 195586 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc. Class A <br> (Consumer Finance)<br>(a) | &nbsp;&nbsp; 1673 | &nbsp;&nbsp; 60847 |
| First Business Financial Services, Inc. (Banks) | &nbsp;&nbsp; 4159 | &nbsp;&nbsp; 213190 |
| First Financial Corp. (Banks) | &nbsp;&nbsp; 845 | &nbsp;&nbsp; 47692 |
| First Horizon Corp. (Banks) | &nbsp;&nbsp; 17667 | &nbsp;&nbsp; 399451 |
| First Internet Bancorp (Banks) | &nbsp;&nbsp; 2267 | &nbsp;&nbsp; 50849 |
| First Mid Bancshares, Inc. (Banks) | &nbsp;&nbsp; 1533 | &nbsp;&nbsp; 58070 |
| FirstCash Holdings, Inc. (Consumer Finance) | &nbsp;&nbsp; 726 | &nbsp;&nbsp; 115013 |
| &nbsp;&nbsp;&nbsp; GCM Grosvenor, Inc. Class A <br> (Capital Markets)<br>| &nbsp;&nbsp; 19390 | &nbsp;&nbsp; 234037 |
| Greene County Bancorp, Inc. (Banks) | &nbsp;&nbsp; 4535 | &nbsp;&nbsp; 102491 |
| Hamilton Lane, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 283 | &nbsp;&nbsp; 38146 |
| HCI Group, Inc. (Insurance) | &nbsp;&nbsp; 288 | &nbsp;&nbsp; 55276 |
| Heritage Insurance Holdings, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 3588 | &nbsp;&nbsp; 90346 |
| Horizon Bancorp, Inc. (Banks) | &nbsp;&nbsp; 2954 | &nbsp;&nbsp; 47294 |
| Houlihan Lokey, Inc. (Capital Markets) | &nbsp;&nbsp; 1729 | &nbsp;&nbsp; 354998 |
| Independent Bank Corp. (Banks) | &nbsp;&nbsp; 1335 | &nbsp;&nbsp; 41352 |
| Investar Holding Corp. (Banks) | &nbsp;&nbsp; 1475 | &nbsp;&nbsp; 34235 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| Kearny Financial Corp. (Banks) | &nbsp;&nbsp; 7409 | &nbsp;&nbsp; $48677 |
| Lemonade, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 4784 | &nbsp;&nbsp; 256088 |
| LendingTree, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 627 | &nbsp;&nbsp; 40586 |
| Live Oak Bancshares, Inc. (Banks) | &nbsp;&nbsp; 2298 | &nbsp;&nbsp; 80936 |
| MarketAxess Holdings, Inc. (Capital Markets) | &nbsp;&nbsp; 1584 | &nbsp;&nbsp; 276012 |
| Mercury General Corp. (Insurance) | &nbsp;&nbsp; 1034 | &nbsp;&nbsp; 87663 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc. <br> (Capital Markets)<br>(a) | &nbsp;&nbsp; 1135 | &nbsp;&nbsp; 45695 |
| Moelis & Co. Class A (Capital Markets) | &nbsp;&nbsp; 6696 | &nbsp;&nbsp; 477559 |
| MVB Financial Corp. (Banks) | &nbsp;&nbsp; 2032 | &nbsp;&nbsp; 50922 |
| NMI Holdings, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 16571 | &nbsp;&nbsp; 635332 |
| Northeast Community Bancorp, Inc. (Banks) | &nbsp;&nbsp; 1224 | &nbsp;&nbsp; 25178 |
| Northfield Bancorp, Inc. (Banks) | &nbsp;&nbsp; 8633 | &nbsp;&nbsp; 101869 |
| Orange County Bancorp, Inc. (Banks) | &nbsp;&nbsp; 15854 | &nbsp;&nbsp; 399679 |
| Oscar Health, Inc. Class A (Insurance)<br> (a) | &nbsp;&nbsp; 15457 | &nbsp;&nbsp; 292601 |
| &nbsp;&nbsp;&nbsp; Pagseguro Digital Ltd. Class A <br> (Financial Services)<br>| &nbsp;&nbsp; 22564 | &nbsp;&nbsp; 225640 |
| Palomar Holdings, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 3831 | &nbsp;&nbsp; 447269 |
| Park National Corp. (Banks) | &nbsp;&nbsp; 1065 | &nbsp;&nbsp; 173094 |
| Pinnacle Financial Partners, Inc. (Banks) | &nbsp;&nbsp; 7283 | &nbsp;&nbsp; 683073 |
| PJT Partners, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 1665 | &nbsp;&nbsp; 295920 |
| Plumas Bancorp (Banks) | &nbsp;&nbsp; 338 | &nbsp;&nbsp; 14581 |
| PRA Group, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 6130 | &nbsp;&nbsp; 94647 |
| Princeton Bancorp, Inc. (Banks) | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 987 |
| Remitly Global, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 28762 | &nbsp;&nbsp; 468821 |
| Root, Inc. Class A (Insurance)<br> (a) | &nbsp;&nbsp; 778 | &nbsp;&nbsp; 69639 |
| Sezzle, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 364 | &nbsp;&nbsp; 28949 |
| &nbsp;&nbsp;&nbsp; Silvercrest Asset Management Group, Inc. <br> Class A (Capital Markets)<br>| &nbsp;&nbsp; 1037 | &nbsp;&nbsp; 16333 |
| Southern Missouri Bancorp, Inc. (Banks) | &nbsp;&nbsp; 261 | &nbsp;&nbsp; 13718 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. <br> (Insurance)<br>| &nbsp;&nbsp; 2601 | &nbsp;&nbsp; 190705 |
| StoneCo Ltd. Class A (Financial Services)<br> (a) | &nbsp;&nbsp; 14566 | &nbsp;&nbsp; 275443 |
| Synovus Financial Corp. (Banks) | &nbsp;&nbsp; 4843 | &nbsp;&nbsp; 237694 |
| Tiptree, Inc. (Insurance) | &nbsp;&nbsp; 7309 | &nbsp;&nbsp; 140114 |
| Unity Bancorp, Inc. (Banks) | &nbsp;&nbsp; 1054 | &nbsp;&nbsp; 51509 |
| &nbsp;&nbsp;&nbsp; Universal Insurance Holdings, Inc. <br> (Insurance)<br>| &nbsp;&nbsp; 7134 | &nbsp;&nbsp; 187624 |
| Upstart Holdings, Inc. (Consumer Finance)<br> (a) | &nbsp;&nbsp; 8701 | &nbsp;&nbsp; 442011 |
| USCB Financial Holdings, Inc. (Banks) | &nbsp;&nbsp; 3825 | &nbsp;&nbsp; 66746 |
| Velocity Financial, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 4514 | &nbsp;&nbsp; 81884 |
| Virtu Financial, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 10839 | &nbsp;&nbsp; 384785 |
|  |  | &nbsp;&nbsp; 11874537 |
| **Health Care–23.2%** |  |  |
| &nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 13293 | &nbsp;&nbsp; 283673 |
| Accuray, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 39036 | &nbsp;&nbsp; 65190 |
| &nbsp;&nbsp;&nbsp; Adaptive Biotechnologies Corp. (Life Sciences <br> Tools & Svs.)<br>(a) | &nbsp;&nbsp; 13286 | &nbsp;&nbsp; 198759 |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 139 | &nbsp;&nbsp; 16401 |
| ADMA Biologics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 15542 | &nbsp;&nbsp; 227846 |
| &nbsp;&nbsp;&nbsp; agilon health, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 31549 | &nbsp;&nbsp; 32495 |
| Akero Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4229 | &nbsp;&nbsp; 200793 |
| Alector, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 22360 | &nbsp;&nbsp; 66186 |
| &nbsp;&nbsp;&nbsp; Alignment Healthcare, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 17136 | &nbsp;&nbsp; 299023 |
| Alkermes PLC (Biotechnology)<br> (a) | &nbsp;&nbsp; 15758 | &nbsp;&nbsp; 472740 |
| &nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 12232 | &nbsp;&nbsp; 177853 |
| Altimmune, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3555 | &nbsp;&nbsp; 13402 |
| ALX Oncology Holdings, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1291 | &nbsp;&nbsp; 2363 |
| Amarin Corp. PLC – ADR (Biotechnology)<br> (a) | &nbsp;&nbsp; 855 | &nbsp;&nbsp; 14005 |
| Amicus Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 27852 | &nbsp;&nbsp; 219474 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 20615 | &nbsp;&nbsp; 206356 |
| &nbsp;&nbsp;&nbsp; Amylyx Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 13876 | &nbsp;&nbsp; 188575 |
| AnaptysBio, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 707 | &nbsp;&nbsp; 21648 |
| Apellis Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1096 | &nbsp;&nbsp; 24802 |
| Arcellx, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1576 | &nbsp;&nbsp; 129390 |
| Arcus Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5073 | &nbsp;&nbsp; 68993 |
| Arcutis Biotherapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3931 | &nbsp;&nbsp; 74099 |
| Ardelyx, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 44665 | &nbsp;&nbsp; 246104 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 13851 | &nbsp;&nbsp; $477721 |
| Arvinas, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 10862 | &nbsp;&nbsp; 92544 |
| &nbsp;&nbsp;&nbsp; Astrana Health, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 561 | &nbsp;&nbsp; 15904 |
| Astria Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4628 | &nbsp;&nbsp; 33692 |
| AtriCure, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 3437 | &nbsp;&nbsp; 121154 |
| &nbsp;&nbsp;&nbsp; Aveanna Healthcare Holdings, Inc. (Health <br> Care Providers & Svs.)<br>(a) | &nbsp;&nbsp; 16600 | &nbsp;&nbsp; 147242 |
| Avidity Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6733 | &nbsp;&nbsp; 293357 |
| Axsome Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 4511 | &nbsp;&nbsp; 547861 |
| Beam Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6337 | &nbsp;&nbsp; 153799 |
| Beyondspring, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5417 | &nbsp;&nbsp; 9805 |
| &nbsp;&nbsp;&nbsp; BioCryst Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 35684 | &nbsp;&nbsp; 270842 |
| Biohaven Ltd. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5729 | &nbsp;&nbsp; 85992 |
| Bridgebio Pharma, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 16678 | &nbsp;&nbsp; 866255 |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc. (Health <br> Care Providers & Svs.)<br>(a) | &nbsp;&nbsp; 10426 | &nbsp;&nbsp; 308193 |
| &nbsp;&nbsp;&nbsp; Castle Biosciences, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 3711 | &nbsp;&nbsp; 84499 |
| &nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 12832 | &nbsp;&nbsp; 252790 |
| Celcuity, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 359 | &nbsp;&nbsp; 17735 |
| Celldex Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5359 | &nbsp;&nbsp; 138637 |
| Cerus Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 208896 | &nbsp;&nbsp; 332145 |
| CG oncology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1239 | &nbsp;&nbsp; 49907 |
| &nbsp;&nbsp;&nbsp; ClearPoint Neuro, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 4918 | &nbsp;&nbsp; 107163 |
| Coherus Oncology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 29534 | &nbsp;&nbsp; 48436 |
| &nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 5481 | &nbsp;&nbsp; 191780 |
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. (Health <br> Care Providers & Svs.)<br>| &nbsp;&nbsp; 12471 | &nbsp;&nbsp; 261018 |
| Corcept Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 3952 | &nbsp;&nbsp; 328451 |
| CorVel Corp. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 3701 | &nbsp;&nbsp; 286531 |
| Corvus Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 13858 | &nbsp;&nbsp; 102133 |
| &nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 4727 | &nbsp;&nbsp; 196880 |
| CryoPort, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 10961 | &nbsp;&nbsp; 103910 |
| Cytokinetics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1201 | &nbsp;&nbsp; 66007 |
| &nbsp;&nbsp;&nbsp; Day One Biopharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 20699 | &nbsp;&nbsp; 145928 |
| Disc Medicine, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 269 | &nbsp;&nbsp; 17776 |
| &nbsp;&nbsp;&nbsp; Doximity, Inc. Class A (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 4384 | &nbsp;&nbsp; 320690 |
| &nbsp;&nbsp;&nbsp; Edgewise Therapeutics, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 6575 | &nbsp;&nbsp; 106646 |
| Editas Medicine, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5646 | &nbsp;&nbsp; 19592 |
| &nbsp;&nbsp;&nbsp; Electromed, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 625 | &nbsp;&nbsp; 15344 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 1665 | &nbsp;&nbsp; 211488 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. / The (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 2655 | &nbsp;&nbsp; 458704 |
| &nbsp;&nbsp;&nbsp; Evolent Health, Inc. Class A (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 2936 | &nbsp;&nbsp; 24839 |
| Exelixis, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3510 | &nbsp;&nbsp; 144963 |
| &nbsp;&nbsp;&nbsp; EyePoint Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 6929 | &nbsp;&nbsp; 98669 |
| Fate Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 35418 | &nbsp;&nbsp; 44627 |
| &nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 4511 | &nbsp;&nbsp; 101949 |
| &nbsp;&nbsp;&nbsp; GeneDx Holdings Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 1762 | &nbsp;&nbsp; 189838 |
| Glaukos Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 1481 | &nbsp;&nbsp; 120776 |
| Gossamer Bio, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 23232 | &nbsp;&nbsp; 61100 |
| &nbsp;&nbsp;&nbsp; Guardant Health, Inc. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 14343 | &nbsp;&nbsp; 896151 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 2737 | &nbsp;&nbsp; 133401 |
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 5031 | &nbsp;&nbsp; 138654 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Harrow, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 2629 | &nbsp;&nbsp; $126665 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 6689 | &nbsp;&nbsp; 633917 |
| &nbsp;&nbsp;&nbsp; Hims & Hers Health, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 18389 | &nbsp;&nbsp; 1043024 |
| &nbsp;&nbsp;&nbsp; Hinge Health, Inc. Class A (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 2129 | &nbsp;&nbsp; 104491 |
| Ideaya Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5994 | &nbsp;&nbsp; 163097 |
| &nbsp;&nbsp;&nbsp; InfuSystem Holdings, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 9519 | &nbsp;&nbsp; 98617 |
| Ionis Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2219 | &nbsp;&nbsp; 145167 |
| Iovance Biotherapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 27255 | &nbsp;&nbsp; 59143 |
| &nbsp;&nbsp;&nbsp; iRadimed Corp. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 2665 | &nbsp;&nbsp; 189641 |
| &nbsp;&nbsp;&nbsp; iRhythm Technologies, Inc. (Health Care Equip. <br> & Supplies)<br>(a) | &nbsp;&nbsp; 4011 | &nbsp;&nbsp; 689852 |
| Krystal Biotech, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1718 | &nbsp;&nbsp; 303279 |
| Kura Oncology, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 17366 | &nbsp;&nbsp; 153689 |
| Kymera Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3396 | &nbsp;&nbsp; 192214 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 2880 | &nbsp;&nbsp; 147715 |
| &nbsp;&nbsp;&nbsp; LifeStance Health Group, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 44663 | &nbsp;&nbsp; 245646 |
| Liquidia Corp. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 3621 | &nbsp;&nbsp; 82342 |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 1702 | &nbsp;&nbsp; 780639 |
| MannKind Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 52334 | &nbsp;&nbsp; 281034 |
| MaxCyte, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 31931 | &nbsp;&nbsp; 50451 |
| MeiraGTx Holdings PLC (Biotechnology)<br> (a) | &nbsp;&nbsp; 2575 | &nbsp;&nbsp; 21192 |
| MiMedx Group, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 30667 | &nbsp;&nbsp; 214056 |
| Mineralys Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4948 | &nbsp;&nbsp; 187628 |
| MiNK Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 95 | &nbsp;&nbsp; 1330 |
| Mirum Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5715 | &nbsp;&nbsp; 418967 |
| Moderna, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4976 | &nbsp;&nbsp; 128530 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 811 | &nbsp;&nbsp; 130547 |
| &nbsp;&nbsp;&nbsp; NeuroPace, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 16156 | &nbsp;&nbsp; 166568 |
| &nbsp;&nbsp;&nbsp; Niagen Bioscience, Inc. (Life Sciences Tools & <br> Svs.)<br>(a) | &nbsp;&nbsp; 3480 | &nbsp;&nbsp; 32468 |
| Novocure Ltd. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 27925 | &nbsp;&nbsp; 360791 |
| Nurix Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2510 | &nbsp;&nbsp; 23192 |
| Nuvalent, Inc. Class A (Biotechnology)<br> (a) | &nbsp;&nbsp; 2255 | &nbsp;&nbsp; 195012 |
| Nuvation Bio, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 25738 | &nbsp;&nbsp; 95231 |
| Ocular Therapeutix, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 15762 | &nbsp;&nbsp; 184258 |
| Omnicell, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 1980 | &nbsp;&nbsp; 60291 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 12994 | &nbsp;&nbsp; 360713 |
| Pacira BioSciences, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 873 | &nbsp;&nbsp; 22497 |
| &nbsp;&nbsp;&nbsp; PACS Group, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 7204 | &nbsp;&nbsp; 98911 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 1857 | &nbsp;&nbsp; 31105 |
| &nbsp;&nbsp;&nbsp; Pennant Group, Inc. / The (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 1801 | &nbsp;&nbsp; 45421 |
| &nbsp;&nbsp;&nbsp; Phibro Animal Health Corp. Class A <br> (Pharmaceuticals)<br>| &nbsp;&nbsp; 3482 | &nbsp;&nbsp; 140882 |
| Phreesia, Inc. (Health Care Technology)<br> (a) | &nbsp;&nbsp; 16956 | &nbsp;&nbsp; 398805 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 2348 | &nbsp;&nbsp; 124444 |
| Precigen, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4291 | &nbsp;&nbsp; 14117 |
| &nbsp;&nbsp;&nbsp; Privia Health Group, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 34225 | &nbsp;&nbsp; 852202 |
| &nbsp;&nbsp;&nbsp; PROCEPT BioRobotics Corp. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 2996 | &nbsp;&nbsp; 106927 |
| Progyny, Inc. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 24964 | &nbsp;&nbsp; 537225 |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 3284 | &nbsp;&nbsp; 218156 |
| Prothena Corp. PLC (Biotechnology)<br> (a) | &nbsp;&nbsp; 8334 | &nbsp;&nbsp; 81340 |
| PTC Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 6534 | &nbsp;&nbsp; 400992 |
| RadNet, Inc. (Health Care Providers & Svs.)<br> (a) | &nbsp;&nbsp; 1696 | &nbsp;&nbsp; 129252 |
| &nbsp;&nbsp;&nbsp; Recursion Pharmaceuticals, Inc. Class A <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 24634 | &nbsp;&nbsp; 120214 |
| REGENXBIO, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 14450 | &nbsp;&nbsp; 139442 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Rezolute, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5287 | &nbsp;&nbsp; $49698 |
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4727 | &nbsp;&nbsp; 477380 |
| Rigel Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1819 | &nbsp;&nbsp; 51532 |
| Sarepta Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4853 | &nbsp;&nbsp; 93517 |
| Scholar Rock Holding Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3806 | &nbsp;&nbsp; 141735 |
| Schrodinger, Inc. (Health Care Technology)<br> (a) | &nbsp;&nbsp; 12787 | &nbsp;&nbsp; 256507 |
| &nbsp;&nbsp;&nbsp; Select Medical Holdings Corp. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 7818 | &nbsp;&nbsp; 100383 |
| SI-BONE, Inc. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 5060 | &nbsp;&nbsp; 74483 |
| Soleno Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 5173 | &nbsp;&nbsp; 349695 |
| Solid Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2881 | &nbsp;&nbsp; 17776 |
| Sorrento Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 45196 | &nbsp;&nbsp; 158 |
| &nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 16428 | &nbsp;&nbsp; 252745 |
| &nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 13303 | &nbsp;&nbsp; 161498 |
| &nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 8435 | &nbsp;&nbsp; 501292 |
| Tempus AI, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 1024 | &nbsp;&nbsp; 82647 |
| TG Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 17010 | &nbsp;&nbsp; 614486 |
| &nbsp;&nbsp;&nbsp; Theravance Biopharma, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 8903 | &nbsp;&nbsp; 129984 |
| &nbsp;&nbsp;&nbsp; TransMedics Group, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 4406 | &nbsp;&nbsp; 494353 |
| Travere Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7283 | &nbsp;&nbsp; 174064 |
| &nbsp;&nbsp;&nbsp; Treace Medical Concepts, Inc. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 9331 | &nbsp;&nbsp; 62611 |
| Trevi Therapeutics, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 29778 | &nbsp;&nbsp; 272469 |
| Twist Bioscience Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 10427 | &nbsp;&nbsp; 293416 |
| &nbsp;&nbsp;&nbsp; Ultragenyx Pharmaceutical, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 4919 | &nbsp;&nbsp; 147964 |
| UroGen Pharma Ltd. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4803 | &nbsp;&nbsp; 95820 |
| Vanda Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 21959 | &nbsp;&nbsp; 109575 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 5139 | &nbsp;&nbsp; 63724 |
| Vera Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1805 | &nbsp;&nbsp; 52453 |
| Veracyte, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 11660 | &nbsp;&nbsp; 400288 |
| Vericel Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 625 | &nbsp;&nbsp; 19669 |
| &nbsp;&nbsp;&nbsp; Viemed Healthcare, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 44363 | &nbsp;&nbsp; 301225 |
| Viking Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 4970 | &nbsp;&nbsp; 130612 |
| Voyager Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 12240 | &nbsp;&nbsp; 57161 |
| WaVe Life Sciences Ltd. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 4819 | &nbsp;&nbsp; 35275 |
| &nbsp;&nbsp;&nbsp; Waystar Holding Corp. (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 5160 | &nbsp;&nbsp; 195667 |
| Xenon Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3434 | &nbsp;&nbsp; 137875 |
| &nbsp;&nbsp;&nbsp; Xeris Biopharma Holdings, Inc. <br> (Pharmaceuticals)<br>(a) | &nbsp;&nbsp; 15883 | &nbsp;&nbsp; 129288 |
| Zymeworks, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 14417 | &nbsp;&nbsp; 246242 |
|  |  | &nbsp;&nbsp; 30802284 |
| **Industrials–21.7%** |  |  |
| &nbsp;&nbsp;&nbsp; ACV Auctions, Inc. Class A (Commercial Svs. <br> & Supplies)<br>(a) | &nbsp;&nbsp; 12462 | &nbsp;&nbsp; 123498 |
| AeroVironment, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 2978 | &nbsp;&nbsp; 937742 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 4365 | &nbsp;&nbsp; 277832 |
| &nbsp;&nbsp;&nbsp; American Superconductor Corp. <br> (Electrical Equip.)<br>(a) | &nbsp;&nbsp; 4008 | &nbsp;&nbsp; 238035 |
| &nbsp;&nbsp;&nbsp; Archer Aviation, Inc. Class A (Aerospace & <br> Defense)<br>(a) | &nbsp;&nbsp; 50860 | &nbsp;&nbsp; 487239 |
| Argan, Inc. (Construction & Engineering) | &nbsp;&nbsp; 1434 | &nbsp;&nbsp; 387252 |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 853 | &nbsp;&nbsp; 167196 |
| ATI, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1999 | &nbsp;&nbsp; 162599 |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. <br> (Machinery)<br>| &nbsp;&nbsp; 3805 | &nbsp;&nbsp; 171567 |
| AZZ, Inc. (Building Products) | &nbsp;&nbsp; 2369 | &nbsp;&nbsp; 258529 |
| Bloom Energy Corp. Class A (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 20211 | &nbsp;&nbsp; 1709244 |
| Blue Bird Corp. (Machinery)<br> (a) | &nbsp;&nbsp; 3561 | &nbsp;&nbsp; 204936 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 3645 | &nbsp;&nbsp; 281831 |
| &nbsp;&nbsp;&nbsp; Brookfield Business Corp. Class A <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 2481 | &nbsp;&nbsp; 83188 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. Class A <br> (Professional Svs.)<br>(a) | &nbsp;&nbsp; 634 | &nbsp;&nbsp; $316226 |
| &nbsp;&nbsp;&nbsp; CECO Environmental Corp. (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 783 | &nbsp;&nbsp; 40090 |
| &nbsp;&nbsp;&nbsp; Centuri Holdings, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 2689 | &nbsp;&nbsp; 56926 |
| Chart Industries, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 3443 | &nbsp;&nbsp; 689116 |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 978 | &nbsp;&nbsp; 807026 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc. Class A <br> (Construction & Engineering)<br>(a) | &nbsp;&nbsp; 4765 | &nbsp;&nbsp; 605155 |
| CoreCivic, Inc. (Commercial Svs. & Supplies)<br> (a) | &nbsp;&nbsp; 4007 | &nbsp;&nbsp; 81542 |
| &nbsp;&nbsp;&nbsp; Covenant Logistics Group, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 1366 | &nbsp;&nbsp; 29588 |
| CRA International, Inc. (Professional Svs.) | &nbsp;&nbsp; 224 | &nbsp;&nbsp; 46711 |
| &nbsp;&nbsp;&nbsp; CSG Systems International, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 267 | &nbsp;&nbsp; 17189 |
| &nbsp;&nbsp;&nbsp; DNOW, Inc. (Trading Companies & <br> Distributors)<br>(a) | &nbsp;&nbsp; 9744 | &nbsp;&nbsp; 148596 |
| Douglas Dynamics, Inc. (Machinery) | &nbsp;&nbsp; 750 | &nbsp;&nbsp; 23445 |
| Ducommun, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 1465 | &nbsp;&nbsp; 140830 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 4023 | &nbsp;&nbsp; 1173750 |
| Energy Recovery, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 3197 | &nbsp;&nbsp; 49298 |
| Enovix Corp. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 6242 | &nbsp;&nbsp; 62233 |
| ESCO Technologies, Inc. (Machinery) | &nbsp;&nbsp; 2781 | &nbsp;&nbsp; 587097 |
| &nbsp;&nbsp;&nbsp; EVI Industries, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 696 | &nbsp;&nbsp; 22001 |
| ExlService Holdings, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 30262 | &nbsp;&nbsp; 1332436 |
| Exponent, Inc. (Professional Svs.) | &nbsp;&nbsp; 973 | &nbsp;&nbsp; 67604 |
| Federal Signal Corp. (Machinery) | &nbsp;&nbsp; 5360 | &nbsp;&nbsp; 637786 |
| &nbsp;&nbsp;&nbsp; Firefly Aerospace, Inc. (Aerospace & <br> Defense)<br>(a) | &nbsp;&nbsp; 1828 | &nbsp;&nbsp; 53597 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 6157 | &nbsp;&nbsp; 327183 |
| Franklin Covey Co. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 5750 | &nbsp;&nbsp; 111607 |
| Franklin Electric Co., Inc. (Machinery) | &nbsp;&nbsp; 2310 | &nbsp;&nbsp; 219912 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation Ltd. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 802 | &nbsp;&nbsp; 133822 |
| Genpact Ltd. (Professional Svs.) | &nbsp;&nbsp; 13559 | &nbsp;&nbsp; 567986 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc. / The (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 19286 | &nbsp;&nbsp; 395170 |
| Gibraltar Industries, Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 5243 | &nbsp;&nbsp; 329260 |
| &nbsp;&nbsp;&nbsp; Global Industrial Co. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 2412 | &nbsp;&nbsp; 88448 |
| Graham Corp. (Machinery)<br> (a) | &nbsp;&nbsp; 1448 | &nbsp;&nbsp; 79495 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 1731 | &nbsp;&nbsp; 201938 |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. (Aerospace <br> & Defense)<br>| &nbsp;&nbsp; 320 | &nbsp;&nbsp; 92131 |
| IBEX Holdings Ltd. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 6280 | &nbsp;&nbsp; 254466 |
| &nbsp;&nbsp;&nbsp; IES Holdings, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 107 | &nbsp;&nbsp; 42549 |
| Innodata, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 2615 | &nbsp;&nbsp; 201538 |
| Interface, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 1032 | &nbsp;&nbsp; 29866 |
| Joby Aviation, Inc. (Passenger Airlines)<br> (a) | &nbsp;&nbsp; 41585 | &nbsp;&nbsp; 671182 |
| Kadant, Inc. (Machinery) | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 22914 |
| &nbsp;&nbsp;&nbsp; Karat Packaging, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 5979 | &nbsp;&nbsp; 150731 |
| KBR, Inc. (Professional Svs.) | &nbsp;&nbsp; 1552 | &nbsp;&nbsp; 73394 |
| Kforce, Inc. (Professional Svs.) | &nbsp;&nbsp; 1770 | &nbsp;&nbsp; 53065 |
| Korn Ferry (Professional Svs.) | &nbsp;&nbsp; 4109 | &nbsp;&nbsp; 287548 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. <br> (Aerospace & Defense)<br>(a) | &nbsp;&nbsp; 16355 | &nbsp;&nbsp; 1494356 |
| Legalzoom.com, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 31130 | &nbsp;&nbsp; 323129 |
| Leonardo DRS, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 5987 | &nbsp;&nbsp; 271810 |
| &nbsp;&nbsp;&nbsp; Liquidity Services, Inc. (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1446 | &nbsp;&nbsp; 39664 |
| Lyft, Inc. Class A (Ground Transportation)<br> (a) | &nbsp;&nbsp; 11439 | &nbsp;&nbsp; 251772 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 3581 | &nbsp;&nbsp; 762073 |
| Maximus, Inc. (Professional Svs.) | &nbsp;&nbsp; 3773 | &nbsp;&nbsp; 344739 |
| &nbsp;&nbsp;&nbsp; McGrath RentCorp (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 1730 | &nbsp;&nbsp; 202929 |
| &nbsp;&nbsp;&nbsp; Mercury Systems, Inc. (Aerospace & <br> Defense)<br>(a) | &nbsp;&nbsp; 474 | &nbsp;&nbsp; 36688 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc. <br> (Commercial Svs. & Supplies)<br>(a) | &nbsp;&nbsp; 2502 | &nbsp;&nbsp; $68705 |
| Moog, Inc. Class A (Aerospace & Defense) | &nbsp;&nbsp; 2812 | &nbsp;&nbsp; 583968 |
| Mueller Industries, Inc. (Machinery) | &nbsp;&nbsp; 5733 | &nbsp;&nbsp; 579664 |
| MYR Group, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 249 | &nbsp;&nbsp; 51799 |
| NEXTracker, Inc. Class A (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 11622 | &nbsp;&nbsp; 859912 |
| NuScale Power Corp. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 11583 | &nbsp;&nbsp; 416988 |
| Owens Corning (Building Products) | &nbsp;&nbsp; 384 | &nbsp;&nbsp; 54321 |
| Planet Labs PBC (Professional Svs.)<br> (a) | &nbsp;&nbsp; 24506 | &nbsp;&nbsp; 318088 |
| Powell Industries, Inc. (Electrical Equip.) | &nbsp;&nbsp; 179 | &nbsp;&nbsp; 54561 |
| &nbsp;&nbsp;&nbsp; Primoris Services Corp. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 6423 | &nbsp;&nbsp; 882071 |
| Radiant Logistics, Inc. (Air Freight & Logistics)<br> (a) | &nbsp;&nbsp; 10231 | &nbsp;&nbsp; 60363 |
| &nbsp;&nbsp;&nbsp; Resideo Technologies, Inc. <br> (Building Products)<br>(a) | &nbsp;&nbsp; 2542 | &nbsp;&nbsp; 109764 |
| &nbsp;&nbsp;&nbsp; Resources Connection, Inc. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 4757 | &nbsp;&nbsp; 24023 |
| REV Group, Inc. (Machinery) | &nbsp;&nbsp; 2436 | &nbsp;&nbsp; 138048 |
| SkyWest, Inc. (Passenger Airlines)<br> (a) | &nbsp;&nbsp; 607 | &nbsp;&nbsp; 61076 |
| SPX Technologies, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 3997 | &nbsp;&nbsp; 746560 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 2285 | &nbsp;&nbsp; 776169 |
| TriNet Group, Inc. (Professional Svs.) | &nbsp;&nbsp; 2534 | &nbsp;&nbsp; 169499 |
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. (Construction & <br> Engineering)<br>(a) | &nbsp;&nbsp; 2903 | &nbsp;&nbsp; 190408 |
| Upwork, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 20461 | &nbsp;&nbsp; 379961 |
| Verra Mobility Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 9930 | &nbsp;&nbsp; 245271 |
| Vicor Corp. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 4364 | &nbsp;&nbsp; 216978 |
| VSE Corp. (Aerospace & Defense) | &nbsp;&nbsp; 111 | &nbsp;&nbsp; 18453 |
| Willdan Group, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 2165 | &nbsp;&nbsp; 209334 |
| WNS Holdings Ltd. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 1135 | &nbsp;&nbsp; 86566 |
| Worthington Enterprises, Inc. (Machinery) | &nbsp;&nbsp; 4053 | &nbsp;&nbsp; 224901 |
| &nbsp;&nbsp;&nbsp; Xometry, Inc. Class A (Trading Companies & <br> Distributors)<br>(a) | &nbsp;&nbsp; 5172 | &nbsp;&nbsp; 281719 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. <br> (Building Products)<br>| &nbsp;&nbsp; 8656 | &nbsp;&nbsp; 407092 |
|  |  | &nbsp;&nbsp; 28756557 |
| **Information Technology–23.0%** |  |  |
| 8x8, Inc. (Software)<br> (a) | &nbsp;&nbsp; 13109 | &nbsp;&nbsp; 27791 |
| A10 Networks, Inc. (Software) | &nbsp;&nbsp; 3144 | &nbsp;&nbsp; 57064 |
| ACI Worldwide, Inc. (Software)<br> (a) | &nbsp;&nbsp; 13127 | &nbsp;&nbsp; 692712 |
| &nbsp;&nbsp;&nbsp; ADTRAN Holdings, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 14006 | &nbsp;&nbsp; 131376 |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. (Electronic <br> Equip., Instr. & Comp.)<br>| &nbsp;&nbsp; 3649 | &nbsp;&nbsp; 620841 |
| Alarm.com Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 14504 | &nbsp;&nbsp; 769872 |
| Ambarella, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 6976 | &nbsp;&nbsp; 575660 |
| Amplitude, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 30716 | &nbsp;&nbsp; 329276 |
| Appian Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 5135 | &nbsp;&nbsp; 156977 |
| Applied Digital Corp. (IT Svs.)<br> (a) | &nbsp;&nbsp; 8097 | &nbsp;&nbsp; 185745 |
| &nbsp;&nbsp;&nbsp; Applied Optoelectronics, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 4052 | &nbsp;&nbsp; 105068 |
| &nbsp;&nbsp;&nbsp; Arlo Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 12856 | &nbsp;&nbsp; 217909 |
| Arteris, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5050 | &nbsp;&nbsp; 51005 |
| Asana, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 13078 | &nbsp;&nbsp; 174722 |
| Aurora Innovation, Inc. (Software)<br> (a) | &nbsp;&nbsp; 29161 | &nbsp;&nbsp; 157178 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 2850 | &nbsp;&nbsp; 508953 |
| Blend Labs, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 11594 | &nbsp;&nbsp; 42318 |
| Box, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 22627 | &nbsp;&nbsp; 730173 |
| Braze, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 5922 | &nbsp;&nbsp; 168422 |
| C3.AI, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 9080 | &nbsp;&nbsp; 157447 |
| Calix, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 17072 | &nbsp;&nbsp; 1047709 |
| Ciena Corp. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 1786 | &nbsp;&nbsp; 260167 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics Holdings, Inc. Class A <br> (Software)<br>(a) | &nbsp;&nbsp; 34871 | &nbsp;&nbsp; 628375 |
| &nbsp;&nbsp;&nbsp; Cognex Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 3339 | &nbsp;&nbsp; 151257 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 1229 | &nbsp;&nbsp; 132388 |
| &nbsp;&nbsp;&nbsp; CommScope Holding Co., Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 15558 | &nbsp;&nbsp; 240838 |
| Commvault Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3056 | &nbsp;&nbsp; 576912 |
| Confluent, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 17378 | &nbsp;&nbsp; 344084 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Core Scientific, Inc. (Software)<br> (a) | &nbsp;&nbsp; 9740 | &nbsp;&nbsp; $174736 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding Ltd. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 15628 | &nbsp;&nbsp; 2275593 |
| CTS Corp. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 2064 | &nbsp;&nbsp; 82436 |
| Digital Turbine, Inc. (Software)<br> (a) | &nbsp;&nbsp; 8565 | &nbsp;&nbsp; 54816 |
| DigitalOcean Holdings, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 3974 | &nbsp;&nbsp; 135752 |
| Domo, Inc. Class B (Software)<br> (a) | &nbsp;&nbsp; 8495 | &nbsp;&nbsp; 134561 |
| D-Wave Quantum, Inc. (Software)<br> (a) | &nbsp;&nbsp; 23137 | &nbsp;&nbsp; 571715 |
| Elastic N.V. (Software)<br> (a) | &nbsp;&nbsp; 5753 | &nbsp;&nbsp; 486071 |
| EPAM Systems, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 696 | &nbsp;&nbsp; 104950 |
| &nbsp;&nbsp;&nbsp; Evolv Technologies Holdings, Inc. (Electronic <br> Equip., Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 4845 | &nbsp;&nbsp; 36580 |
| &nbsp;&nbsp;&nbsp; Extreme Networks, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 13085 | &nbsp;&nbsp; 270205 |
| Fabrinet (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 3528 | &nbsp;&nbsp; 1286379 |
| Flex Ltd. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 506 | &nbsp;&nbsp; 29333 |
| Freshworks, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 28761 | &nbsp;&nbsp; 338517 |
| Gitlab, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 2301 | &nbsp;&nbsp; 103729 |
| Grid Dynamics Holdings, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 6445 | &nbsp;&nbsp; 49691 |
| Harmonic, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 19556 | &nbsp;&nbsp; 199080 |
| Impinj, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2458 | &nbsp;&nbsp; 444283 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 1426 | &nbsp;&nbsp; 161723 |
| InterDigital, Inc. (Software) | &nbsp;&nbsp; 2666 | &nbsp;&nbsp; 920383 |
| &nbsp;&nbsp;&nbsp; IonQ, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>(a) | &nbsp;&nbsp; 22458 | &nbsp;&nbsp; 1381167 |
| Jamf Holding Corp. (Software)<br> (a) | &nbsp;&nbsp; 1476 | &nbsp;&nbsp; 15793 |
| JFrog Ltd. (Software)<br> (a) | &nbsp;&nbsp; 2697 | &nbsp;&nbsp; 127649 |
| Kaltura, Inc. (Software)<br> (a) | &nbsp;&nbsp; 23954 | &nbsp;&nbsp; 34494 |
| Klaviyo, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 747 | &nbsp;&nbsp; 20684 |
| Life360, Inc. (Software)<br> (a) | &nbsp;&nbsp; 226 | &nbsp;&nbsp; 24024 |
| LiveRamp Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 16922 | &nbsp;&nbsp; 459263 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 3581 | &nbsp;&nbsp; 582665 |
| MaxLinear, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 12876 | &nbsp;&nbsp; 207046 |
| &nbsp;&nbsp;&nbsp; Methode Electronics, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 13741 | &nbsp;&nbsp; 103745 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 13754 | &nbsp;&nbsp; 319918 |
| Netskope, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 3515 | &nbsp;&nbsp; 79896 |
| nLight, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 7298 | &nbsp;&nbsp; 216240 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 383 | &nbsp;&nbsp; 38357 |
| Ooma, Inc. (Software)<br> (a) | &nbsp;&nbsp; 12118 | &nbsp;&nbsp; 145295 |
| &nbsp;&nbsp;&nbsp; OSI Systems, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 1648 | &nbsp;&nbsp; 410748 |
| Ouster, Inc. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 7694 | &nbsp;&nbsp; 208123 |
| Pagaya Technologies Ltd. Class A (Software)<br> (a) | &nbsp;&nbsp; 5036 | &nbsp;&nbsp; 149519 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 1398 | &nbsp;&nbsp; 86662 |
| &nbsp;&nbsp;&nbsp; Plexus Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 3889 | &nbsp;&nbsp; 562699 |
| Porch Group, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6399 | &nbsp;&nbsp; 107375 |
| PROS Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 16673 | &nbsp;&nbsp; 381978 |
| Q2 Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5704 | &nbsp;&nbsp; 412913 |
| Qorvo, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 582 | &nbsp;&nbsp; 53009 |
| Qualys, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4323 | &nbsp;&nbsp; 572063 |
| &nbsp;&nbsp;&nbsp; Quantum Computing, Inc. (Tech. Hardware, <br> Storage & Periph.)<br>(a) | &nbsp;&nbsp; 6231 | &nbsp;&nbsp; 114713 |
| Rambus, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 12192 | &nbsp;&nbsp; 1270406 |
| Red Violet, Inc. (Software) | &nbsp;&nbsp; 1350 | &nbsp;&nbsp; 70538 |
| Rezolve AI PLC (Software)<br> (a) | &nbsp;&nbsp; 2798 | &nbsp;&nbsp; 13934 |
| &nbsp;&nbsp;&nbsp; Rigetti Computing, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 21742 | &nbsp;&nbsp; 647694 |
| Rubrik, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 338 | &nbsp;&nbsp; 27801 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 739 | &nbsp;&nbsp; 85066 |
| &nbsp;&nbsp;&nbsp; ScanSource, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 1157 | &nbsp;&nbsp; 50896 |
| SEMrush Holdings, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 14556 | &nbsp;&nbsp; 103056 |
| Semtech Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 4943 | &nbsp;&nbsp; 353177 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 3037 | &nbsp;&nbsp; 398242 |
| SiTime Corp. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 2708 | &nbsp;&nbsp; 815947 |
| SoundHound AI, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 24541 | &nbsp;&nbsp; 394619 |
| SoundThinking, Inc. (Software)<br> (a) | &nbsp;&nbsp; 4002 | &nbsp;&nbsp; 48264 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Small Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Sprout Social, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 12036 | &nbsp;&nbsp; $155505 |
| Tenable Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 14495 | &nbsp;&nbsp; 422674 |
| Terawulf, Inc. (Software)<br> (a) | &nbsp;&nbsp; 18206 | &nbsp;&nbsp; 207913 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. (Electronic Equip., <br> Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 4512 | &nbsp;&nbsp; 259891 |
| Varonis Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6903 | &nbsp;&nbsp; 396715 |
| Via Transportation, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1195 | &nbsp;&nbsp; 57456 |
| Viant Technology, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1646 | &nbsp;&nbsp; 14205 |
| Viasat, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 1401 | &nbsp;&nbsp; 41049 |
| Workiva, Inc. (Software)<br> (a) | &nbsp;&nbsp; 3942 | &nbsp;&nbsp; 339327 |
| Zeta Global Holdings Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 25713 | &nbsp;&nbsp; 510917 |
|  |  | &nbsp;&nbsp; 30604102 |
| **Materials–3.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc. (Metals & <br> Mining)<br>(a) | &nbsp;&nbsp; 1131 | &nbsp;&nbsp; 185586 |
| Balchem Corp. (Chemicals) | &nbsp;&nbsp; 2992 | &nbsp;&nbsp; 448980 |
| Century Aluminum Co. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 14881 | &nbsp;&nbsp; 436906 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 13477 | &nbsp;&nbsp; 164419 |
| Coeur Mining, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 30510 | &nbsp;&nbsp; 572368 |
| Constellium SE (Metals & Mining)<br> (a) | &nbsp;&nbsp; 23586 | &nbsp;&nbsp; 350960 |
| Contango ORE, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 1321 | &nbsp;&nbsp; 32933 |
| &nbsp;&nbsp;&nbsp; Idaho Strategic Resources, Inc. (Metals & <br> Mining)<br>(a) | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 33790 |
| Ingevity Corp. (Chemicals)<br> (a) | &nbsp;&nbsp; 701 | &nbsp;&nbsp; 38688 |
| Ivanhoe Electric, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 3117 | &nbsp;&nbsp; 39118 |
| Kaiser Aluminum Corp. (Metals & Mining) | &nbsp;&nbsp; 3768 | &nbsp;&nbsp; 290739 |
| Materion Corp. (Metals & Mining) | &nbsp;&nbsp; 1081 | &nbsp;&nbsp; 130596 |
| Mativ Holdings, Inc. (Chemicals) | &nbsp;&nbsp; 11008 | &nbsp;&nbsp; 124500 |
| &nbsp;&nbsp;&nbsp; Myers Industries, Inc. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 3967 | &nbsp;&nbsp; 67201 |
| Novagold Resources, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 20903 | &nbsp;&nbsp; 183946 |
| Olympic Steel, Inc. (Metals & Mining) | &nbsp;&nbsp; 4757 | &nbsp;&nbsp; 144851 |
| PureCycle Technologies, Inc. (Chemicals)<br> (a) | &nbsp;&nbsp; 6245 | &nbsp;&nbsp; 82122 |
| &nbsp;&nbsp;&nbsp; Ramaco Resources, Inc. Class A (Metals & <br> Mining)<br>(a) | &nbsp;&nbsp; 9003 | &nbsp;&nbsp; 298810 |
| &nbsp;&nbsp;&nbsp; Ramaco Resources, Inc. Class B (Metals & <br> Mining)<br>| &nbsp;&nbsp; 84 | &nbsp;&nbsp; 1415 |
| Royal Gold, Inc. (Metals & Mining) | &nbsp;&nbsp; 1292 | &nbsp;&nbsp; 259149 |
| SunCoke Energy, Inc. (Metals & Mining) | &nbsp;&nbsp; 2770 | &nbsp;&nbsp; 22603 |
| &nbsp;&nbsp;&nbsp; United States Lime & Minerals, Inc. <br> (Construction Materials)<br>| &nbsp;&nbsp; 1973 | &nbsp;&nbsp; 259548 |
|  |  | &nbsp;&nbsp; 4169228 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate–2.3%** |  |  |
| Agree Realty Corp. (Retail REITs) | &nbsp;&nbsp; 7076 | &nbsp;&nbsp; $502679 |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 4295 | &nbsp;&nbsp; 180433 |
| &nbsp;&nbsp;&nbsp; Compass, Inc. Class A (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 49440 | &nbsp;&nbsp; 397003 |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 26063 | &nbsp;&nbsp; 1059721 |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust (Health Care <br> REITs)<br>| &nbsp;&nbsp; 13058 | &nbsp;&nbsp; 57586 |
| EastGroup Properties, Inc. (Industrial REITs) | &nbsp;&nbsp; 2107 | &nbsp;&nbsp; 356631 |
| EPR Properties (Specialized REITs) | &nbsp;&nbsp; 730 | &nbsp;&nbsp; 42347 |
| Getty Realty Corp. (Retail REITs) | &nbsp;&nbsp; 2126 | &nbsp;&nbsp; 57041 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc. Class A (Real Estate <br> Mgmt. & Development)<br>| &nbsp;&nbsp; 1155 | &nbsp;&nbsp; 21541 |
| &nbsp;&nbsp;&nbsp; Real Brokerage, Inc. / The (Real Estate Mgmt. <br> & Development)<br>(a) | &nbsp;&nbsp; 5322 | &nbsp;&nbsp; 22246 |
| Tanger, Inc. (Retail REITs) | &nbsp;&nbsp; 8625 | &nbsp;&nbsp; 291870 |
| Urban Edge Properties (Retail REITs) | &nbsp;&nbsp; 5288 | &nbsp;&nbsp; 108245 |
|  |  | &nbsp;&nbsp; 3097343 |
| **Utilities–0.2%** |  |  |
| Genie Energy Ltd. Class B (Electric Utilities) | &nbsp;&nbsp; 7296 | &nbsp;&nbsp; 109075 |
| Oklo, Inc. (Electric Utilities)<br> (a) | &nbsp;&nbsp; 719 | &nbsp;&nbsp; 80262 |
|  |  | &nbsp;&nbsp; 189337 |
| **Total Common Stocks (Cost $117,177,879)** |  | &nbsp;&nbsp; $132092037 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Rights–0.0%** | **Quantity** | **Value** |
| **Health Care–0.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Blueprint Medicines Corporation CVR <br> (Acquired July 21, 2025, Cost $2,777) <br> (Biotechnology)<br>(a)(b) | 6037 | &nbsp;&nbsp; $2777 |
| &nbsp;&nbsp;&nbsp; Flexion Therapeutics, Inc. CVR <br> (Biotechnology)<br>(a) | 6185 | &nbsp;&nbsp; 3835 |
| &nbsp;&nbsp;&nbsp; Prevail Therapeutics, Inc. CVR <br> (Biotechnology)<br>(a) | 2231 | &nbsp;&nbsp; 1115 |
| **Total Rights (Cost $7,727)** |  | &nbsp;&nbsp; $7727 |
| **Total Investments – 99.4% (Cost $117,185,606)**<br> (c) |  | &nbsp;&nbsp; $132099764 |
| **Other Assets in Excess of Liabilities – 0.6%**<br> (d) |  | &nbsp;&nbsp; 798658 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $132898422 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; ADR: | American Depositary Receipts |
| &nbsp;&nbsp;&nbsp;&nbsp; CVR: | Contingent Value Right |
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Represents a security deemed to be restricted. At September 30, 2025, the value of restricted securities in the Portfolio totaled $2,777, or 0.0% of the Portfolio's net <br> assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Includes $147,300 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini Russell 2000 Index - Long | 16 | December 19, 2025 | &nbsp;&nbsp; $1948070 | &nbsp;&nbsp; $1964400 | &nbsp;&nbsp; $16330 | &nbsp;&nbsp; $14626 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$1948070** | &nbsp;&nbsp; **$1964400** | &nbsp;&nbsp; **$16330** | &nbsp;&nbsp; **$14626** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P MidCap 400**<sup>®</sup> **Index Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–98.8%** | **Shares** | **Value** |
| **Communication Services–1.4%** |  |  |
| EchoStar Corp. Class A (Media)<br> (a) | &nbsp;&nbsp; 22946 | &nbsp;&nbsp; $1752156 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Parent, Inc. <br> (Diversified Telecom. Svs.)<br>(a) | &nbsp;&nbsp; 42711 | &nbsp;&nbsp; 1595256 |
| &nbsp;&nbsp;&nbsp; Iridium Communications, Inc. (Diversified <br> Telecom. Svs.)<br>| &nbsp;&nbsp; 18106 | &nbsp;&nbsp; 316131 |
| New York Times Co. / The Class A (Media) | &nbsp;&nbsp; 27649 | &nbsp;&nbsp; 1587053 |
| Nexstar Media Group, Inc. (Media) | &nbsp;&nbsp; 4862 | &nbsp;&nbsp; 961412 |
| &nbsp;&nbsp;&nbsp; Warner Music Group Corp. Class A <br> (Entertainment)<br>| &nbsp;&nbsp; 24893 | &nbsp;&nbsp; 847855 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc. (Interactive <br> Media & Svs.)<br>(a) | &nbsp;&nbsp; 47844 | &nbsp;&nbsp; 521978 |
|  |  | &nbsp;&nbsp; 7581841 |
| **Consumer Discretionary–12.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co. Class A <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 8129 | &nbsp;&nbsp; 695436 |
| Aramark (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 44851 | &nbsp;&nbsp; 1722278 |
| Autoliv, Inc. (Automobile Components) | &nbsp;&nbsp; 12057 | &nbsp;&nbsp; 1489040 |
| AutoNation, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 4825 | &nbsp;&nbsp; 1055565 |
| Bath & Body Works, Inc. (Specialty Retail) | &nbsp;&nbsp; 36108 | &nbsp;&nbsp; 930142 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 10125 | &nbsp;&nbsp; 875306 |
| Brunswick Corp. (Leisure Products) | &nbsp;&nbsp; 11148 | &nbsp;&nbsp; 705000 |
| Burlington Stores, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 10632 | &nbsp;&nbsp; 2705844 |
| &nbsp;&nbsp;&nbsp; Capri Holdings Ltd. (Textiles, Apparel & Luxury <br> Goods)<br>(a) | &nbsp;&nbsp; 20313 | &nbsp;&nbsp; 404635 |
| &nbsp;&nbsp;&nbsp; Cava Group, Inc. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 17015 | &nbsp;&nbsp; 1027876 |
| Chewy, Inc. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 38034 | &nbsp;&nbsp; 1538475 |
| &nbsp;&nbsp;&nbsp; Choice Hotels International, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 3527 | &nbsp;&nbsp; 377072 |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 11367 | &nbsp;&nbsp; 1102713 |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. (Textiles, Apparel & <br> Luxury Goods)<br>| &nbsp;&nbsp; 4392 | &nbsp;&nbsp; 229702 |
| Crocs, Inc. (Textiles, Apparel & Luxury Goods)<br> (a) | &nbsp;&nbsp; 9319 | &nbsp;&nbsp; 778602 |
| Dick's Sporting Goods, Inc. (Specialty Retail) | &nbsp;&nbsp; 11408 | &nbsp;&nbsp; 2535086 |
| Duolingo, Inc. (Diversified Consumer Svs.)<br> (a) | &nbsp;&nbsp; 6773 | &nbsp;&nbsp; 2179822 |
| Five Below, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 9395 | &nbsp;&nbsp; 1453407 |
| &nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc. Class A <br> (Specialty Retail)<br>(a) | &nbsp;&nbsp; 18375 | &nbsp;&nbsp; 1354238 |
| GameStop Corp. Class A (Specialty Retail)<br> (a) | &nbsp;&nbsp; 70223 | &nbsp;&nbsp; 1915683 |
| Gap, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 38831 | &nbsp;&nbsp; 830595 |
| Gentex Corp. (Automobile Components) | &nbsp;&nbsp; 37452 | &nbsp;&nbsp; 1059892 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. / The <br> (Automobile Components)<br>(a) | &nbsp;&nbsp; 48808 | &nbsp;&nbsp; 365084 |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co. Class B (Diversified <br> Consumer Svs.)<br>| &nbsp;&nbsp; 579 | &nbsp;&nbsp; 681662 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc. (Diversified <br> Consumer Svs.)<br>(a) | &nbsp;&nbsp; 4733 | &nbsp;&nbsp; 1038988 |
| H&R Block, Inc. (Diversified Consumer Svs.) | &nbsp;&nbsp; 22844 | &nbsp;&nbsp; 1155221 |
| Harley-Davidson, Inc. (Automobiles) | &nbsp;&nbsp; 20741 | &nbsp;&nbsp; 578674 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 10525 | &nbsp;&nbsp; 440050 |
| &nbsp;&nbsp;&nbsp; Hyatt Hotels Corp. Class A (Hotels, Restaurants <br> & Leisure)<br>| &nbsp;&nbsp; 7224 | &nbsp;&nbsp; 1025302 |
| KB Home (Household Durables) | &nbsp;&nbsp; 11611 | &nbsp;&nbsp; 738924 |
| Lear Corp. (Automobile Components) | &nbsp;&nbsp; 9079 | &nbsp;&nbsp; 913438 |
| &nbsp;&nbsp;&nbsp; Light & Wonder, Inc. (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 14324 | &nbsp;&nbsp; 1202357 |
| Lithia Motors, Inc. (Specialty Retail) | &nbsp;&nbsp; 4374 | &nbsp;&nbsp; 1382184 |
| Macy's, Inc. (Broadline Retail) | &nbsp;&nbsp; 46333 | &nbsp;&nbsp; 830751 |
| &nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 4723 | &nbsp;&nbsp; 314363 |
| Mattel, Inc. (Leisure Products)<br> (a) | &nbsp;&nbsp; 54977 | &nbsp;&nbsp; 925263 |
| Murphy U.S.A., Inc. (Specialty Retail) | &nbsp;&nbsp; 2996 | &nbsp;&nbsp; 1163227 |
| &nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc. <br> (Broadline Retail)<br>(a) | &nbsp;&nbsp; 10467 | &nbsp;&nbsp; 1343963 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. <br> (Specialty Retail)<br>| &nbsp;&nbsp; 3155 | &nbsp;&nbsp; 548686 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc. Class A (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 14319 | &nbsp;&nbsp; 1486312 |
| Polaris, Inc. (Leisure Products) | &nbsp;&nbsp; 9114 | &nbsp;&nbsp; 529797 |
| PVH Corp. (Textiles, Apparel & Luxury Goods) | &nbsp;&nbsp; 8203 | &nbsp;&nbsp; 687165 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Consumer Discretionary (continued)** |  |  |
| RH (Specialty Retail)<br> (a) | &nbsp;&nbsp; 2621 | &nbsp;&nbsp; $532482 |
| &nbsp;&nbsp;&nbsp; Service Corp. International (Diversified <br> Consumer Svs.)<br>| &nbsp;&nbsp; 23929 | &nbsp;&nbsp; 1991371 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. <br> (Household Durables)<br>| &nbsp;&nbsp; 35814 | &nbsp;&nbsp; 3020195 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp. <br> (Household Durables)<br>(a) | &nbsp;&nbsp; 16866 | &nbsp;&nbsp; 1113325 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 11339 | &nbsp;&nbsp; 1883975 |
| Thor Industries, Inc. (Automobiles) | &nbsp;&nbsp; 9078 | &nbsp;&nbsp; 941298 |
| Toll Brothers, Inc. (Household Durables) | &nbsp;&nbsp; 16753 | &nbsp;&nbsp; 2314259 |
| TopBuild Corp. (Household Durables)<br> (a) | &nbsp;&nbsp; 4774 | &nbsp;&nbsp; 1865966 |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 11077 | &nbsp;&nbsp; 658971 |
| &nbsp;&nbsp;&nbsp; Under Armour, Inc. Class A (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 32221 | &nbsp;&nbsp; 160783 |
| &nbsp;&nbsp;&nbsp; Under Armour, Inc. Class C (Textiles, Apparel & <br> Luxury Goods)<br>(a) | &nbsp;&nbsp; 20692 | &nbsp;&nbsp; 99942 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 6339 | &nbsp;&nbsp; 948124 |
| Valvoline, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 21690 | &nbsp;&nbsp; 778888 |
| VF Corp. (Textiles, Apparel & Luxury Goods) | &nbsp;&nbsp; 55987 | &nbsp;&nbsp; 807892 |
| Visteon Corp. (Automobile Components) | &nbsp;&nbsp; 4654 | &nbsp;&nbsp; 557828 |
| Whirlpool Corp. (Household Durables) | &nbsp;&nbsp; 9537 | &nbsp;&nbsp; 749608 |
| Wingstop, Inc. (Hotels, Restaurants & Leisure) | &nbsp;&nbsp; 4765 | &nbsp;&nbsp; 1199255 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. (Hotels, <br> Restaurants & Leisure)<br>| &nbsp;&nbsp; 13029 | &nbsp;&nbsp; 1041017 |
| YETI Holdings, Inc. (Leisure Products)<br> (a) | &nbsp;&nbsp; 13859 | &nbsp;&nbsp; 459842 |
|  |  | &nbsp;&nbsp; 65442841 |
| **Consumer Staples–4.7%** |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. Class A (Consumer <br> Staples Distribution & Retail)<br>| &nbsp;&nbsp; 68780 | &nbsp;&nbsp; 1204338 |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc. (Personal Care <br> Products)<br>(a) | &nbsp;&nbsp; 21496 | &nbsp;&nbsp; 781380 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 22532 | &nbsp;&nbsp; 2101109 |
| &nbsp;&nbsp;&nbsp; Boston Beer Co., Inc. / The Class A <br> (Beverages)<br>(a) | &nbsp;&nbsp; 1349 | &nbsp;&nbsp; 285206 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. (Consumer <br> Staples Distribution & Retail)<br>| &nbsp;&nbsp; 6344 | &nbsp;&nbsp; 3586390 |
| Celsius Holdings, Inc. (Beverages)<br> (a) | &nbsp;&nbsp; 27289 | &nbsp;&nbsp; 1568845 |
| Coca-Cola Consolidated, Inc. (Beverages) | &nbsp;&nbsp; 10227 | &nbsp;&nbsp; 1198195 |
| Coty, Inc. Class A (Personal Care Products)<br> (a) | &nbsp;&nbsp; 62513 | &nbsp;&nbsp; 252552 |
| Darling Ingredients, Inc. (Food Products)<br> (a) | &nbsp;&nbsp; 26992 | &nbsp;&nbsp; 833243 |
| e.l.f. Beauty, Inc. (Personal Care Products)<br> (a) | &nbsp;&nbsp; 10121 | &nbsp;&nbsp; 1340830 |
| Flowers Foods, Inc. (Food Products) | &nbsp;&nbsp; 36027 | &nbsp;&nbsp; 470152 |
| Ingredion, Inc. (Food Products) | &nbsp;&nbsp; 10951 | &nbsp;&nbsp; 1337227 |
| &nbsp;&nbsp;&nbsp; Maplebear, Inc. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 31466 | &nbsp;&nbsp; 1156690 |
| Marzetti Company / The (Food Products) | &nbsp;&nbsp; 3481 | &nbsp;&nbsp; 601482 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 26707 | &nbsp;&nbsp; 2778596 |
| Pilgrim's Pride Corp. (Food Products) | &nbsp;&nbsp; 7296 | &nbsp;&nbsp; 297093 |
| Post Holdings, Inc. (Food Products)<br> (a) | &nbsp;&nbsp; 8156 | &nbsp;&nbsp; 876607 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc. (Consumer <br> Staples Distribution & Retail)<br>(a) | &nbsp;&nbsp; 16675 | &nbsp;&nbsp; 1814240 |
| &nbsp;&nbsp;&nbsp; U.S. Foods Holding Corp. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 38421 | &nbsp;&nbsp; 2943817 |
|  |  | &nbsp;&nbsp; 25427992 |
| **Energy–4.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Antero Midstream Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 57153 | &nbsp;&nbsp; 1111054 |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>(a) | &nbsp;&nbsp; 50078 | &nbsp;&nbsp; 1680618 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 9770 | &nbsp;&nbsp; 970845 |
| &nbsp;&nbsp;&nbsp; Civitas Resources, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 14230 | &nbsp;&nbsp; 462475 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp. (Oil, Gas & Consumable <br> Fuels)<br>(a) | &nbsp;&nbsp; 24131 | &nbsp;&nbsp; 775088 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 17335 | &nbsp;&nbsp; 1959895 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P MidCap 400**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Energy (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 27134 | &nbsp;&nbsp; $1420194 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 19968 | &nbsp;&nbsp; 897162 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 22893 | &nbsp;&nbsp; 650390 |
| NOV, Inc. (Energy Equip. & Svs.) | &nbsp;&nbsp; 63367 | &nbsp;&nbsp; 839613 |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 43859 | &nbsp;&nbsp; 1771026 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc. Class A (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 14017 | &nbsp;&nbsp; 422893 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 119312 | &nbsp;&nbsp; 1527194 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 40643 | &nbsp;&nbsp; 1529802 |
| TechnipFMC PLC (Energy Equip. & Svs.) | &nbsp;&nbsp; 70132 | &nbsp;&nbsp; 2766707 |
| Valaris Ltd. (Energy Equip. & Svs.)<br> (a) | &nbsp;&nbsp; 11301 | &nbsp;&nbsp; 551150 |
| &nbsp;&nbsp;&nbsp; Viper Energy, Inc. Class A (Oil, Gas & <br> Consumable Fuels)<br>| &nbsp;&nbsp; 28789 | &nbsp;&nbsp; 1100316 |
| &nbsp;&nbsp;&nbsp; Weatherford International PLC (Energy Equip. <br> & Svs.)<br>| &nbsp;&nbsp; 12257 | &nbsp;&nbsp; 838746 |
|  |  | &nbsp;&nbsp; 21275168 |
| **Financials–16.7%** |  |  |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 4848 | &nbsp;&nbsp; 1155909 |
| Ally Financial, Inc. (Consumer Finance) | &nbsp;&nbsp; 47795 | &nbsp;&nbsp; 1873564 |
| American Financial Group, Inc. (Insurance) | &nbsp;&nbsp; 11811 | &nbsp;&nbsp; 1721099 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. <br> (Mortgage REIT)<br>| &nbsp;&nbsp; 109558 | &nbsp;&nbsp; 2214167 |
| Associated Banc-Corp (Banks) | &nbsp;&nbsp; 27877 | &nbsp;&nbsp; 716718 |
| Bank OZK (Banks) | &nbsp;&nbsp; 18063 | &nbsp;&nbsp; 920852 |
| Brighthouse Financial, Inc. (Insurance)<br> (a) | &nbsp;&nbsp; 9752 | &nbsp;&nbsp; 517636 |
| Cadence Bank (Banks) | &nbsp;&nbsp; 31790 | &nbsp;&nbsp; 1193397 |
| Carlyle Group, Inc. / The (Capital Markets) | &nbsp;&nbsp; 44437 | &nbsp;&nbsp; 2786200 |
| CNO Financial Group, Inc. (Insurance) | &nbsp;&nbsp; 16540 | &nbsp;&nbsp; 654157 |
| Columbia Banking System, Inc. (Banks) | &nbsp;&nbsp; 51027 | &nbsp;&nbsp; 1313435 |
| Comerica, Inc. (Banks) | &nbsp;&nbsp; 21930 | &nbsp;&nbsp; 1502644 |
| Commerce Bancshares, Inc. (Banks) | &nbsp;&nbsp; 21175 | &nbsp;&nbsp; 1265418 |
| Cullen / Frost Bankers, Inc. (Banks) | &nbsp;&nbsp; 10976 | &nbsp;&nbsp; 1391427 |
| East West Bancorp, Inc. (Banks) | &nbsp;&nbsp; 23517 | &nbsp;&nbsp; 2503385 |
| Equitable Holdings, Inc. (Financial Services) | &nbsp;&nbsp; 51110 | &nbsp;&nbsp; 2595366 |
| Essent Group Ltd. (Financial Services) | &nbsp;&nbsp; 16813 | &nbsp;&nbsp; 1068634 |
| Euronet Worldwide, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 6575 | &nbsp;&nbsp; 577351 |
| Evercore, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 6586 | &nbsp;&nbsp; 2221589 |
| Federated Hermes, Inc. (Capital Markets) | &nbsp;&nbsp; 12612 | &nbsp;&nbsp; 654941 |
| Fidelity National Financial, Inc. (Insurance) | &nbsp;&nbsp; 43583 | &nbsp;&nbsp; 2636336 |
| First American Financial Corp. (Insurance) | &nbsp;&nbsp; 17370 | &nbsp;&nbsp; 1115849 |
| First Financial Bankshares, Inc. (Banks) | &nbsp;&nbsp; 22220 | &nbsp;&nbsp; 747703 |
| First Horizon Corp. (Banks) | &nbsp;&nbsp; 86638 | &nbsp;&nbsp; 1958885 |
| FirstCash Holdings, Inc. (Consumer Finance) | &nbsp;&nbsp; 6662 | &nbsp;&nbsp; 1055394 |
| Flagstar Financial, Inc. (Banks) | &nbsp;&nbsp; 51055 | &nbsp;&nbsp; 589685 |
| FNB Corp. (Banks) | &nbsp;&nbsp; 61281 | &nbsp;&nbsp; 987237 |
| Glacier Bancorp, Inc. (Banks) | &nbsp;&nbsp; 20229 | &nbsp;&nbsp; 984545 |
| Hamilton Lane, Inc. Class A (Capital Markets) | &nbsp;&nbsp; 6903 | &nbsp;&nbsp; 930455 |
| Hancock Whitney Corp. (Banks) | &nbsp;&nbsp; 14462 | &nbsp;&nbsp; 905466 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. / The <br> (Insurance)<br>| &nbsp;&nbsp; 6104 | &nbsp;&nbsp; 1108669 |
| Home BancShares, Inc. (Banks) | &nbsp;&nbsp; 31274 | &nbsp;&nbsp; 885054 |
| Houlihan Lokey, Inc. (Capital Markets) | &nbsp;&nbsp; 9277 | &nbsp;&nbsp; 1904754 |
| International Bancshares Corp. (Banks) | &nbsp;&nbsp; 9227 | &nbsp;&nbsp; 634356 |
| Janus Henderson Group PLC (Capital Markets) | &nbsp;&nbsp; 21292 | &nbsp;&nbsp; 947707 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 28158 | &nbsp;&nbsp; 1842096 |
| Kemper Corp. (Insurance) | &nbsp;&nbsp; 10706 | &nbsp;&nbsp; 551894 |
| Kinsale Capital Group, Inc. (Insurance) | &nbsp;&nbsp; 3777 | &nbsp;&nbsp; 1606207 |
| MGIC Investment Corp. (Financial Services) | &nbsp;&nbsp; 39335 | &nbsp;&nbsp; 1115934 |
| Morningstar, Inc. (Capital Markets) | &nbsp;&nbsp; 4174 | &nbsp;&nbsp; 968410 |
| Old National Bancorp (Banks) | &nbsp;&nbsp; 59508 | &nbsp;&nbsp; 1306201 |
| Old Republic International Corp. (Insurance) | &nbsp;&nbsp; 39005 | &nbsp;&nbsp; 1656542 |
| Pinnacle Financial Partners, Inc. (Banks) | &nbsp;&nbsp; 13122 | &nbsp;&nbsp; 1230712 |
| Primerica, Inc. (Insurance) | &nbsp;&nbsp; 5527 | &nbsp;&nbsp; 1534240 |
| Prosperity Bancshares, Inc. (Banks) | &nbsp;&nbsp; 16210 | &nbsp;&nbsp; 1075533 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc. <br> (Insurance)<br>| &nbsp;&nbsp; 11278 | &nbsp;&nbsp; 2166842 |
| RenaissanceRe Holdings Ltd. (Insurance) | &nbsp;&nbsp; 8031 | &nbsp;&nbsp; 2039312 |
| RLI Corp. (Insurance) | &nbsp;&nbsp; 15669 | &nbsp;&nbsp; 1021932 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| Ryan Specialty Holdings, Inc. (Insurance) | &nbsp;&nbsp; 19226 | &nbsp;&nbsp; $1083577 |
| SEI Investments Co. (Capital Markets) | &nbsp;&nbsp; 16032 | &nbsp;&nbsp; 1360315 |
| Selective Insurance Group, Inc. (Insurance) | &nbsp;&nbsp; 10383 | &nbsp;&nbsp; 841750 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. Class A <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 11482 | &nbsp;&nbsp; 888707 |
| SLM Corp. (Consumer Finance) | &nbsp;&nbsp; 35573 | &nbsp;&nbsp; 984661 |
| SOUTHSTATE BANK CORP (Banks) | &nbsp;&nbsp; 17269 | &nbsp;&nbsp; 1707386 |
| Starwood Property Trust, Inc. (Mortgage REIT) | &nbsp;&nbsp; 58887 | &nbsp;&nbsp; 1140641 |
| Stifel Financial Corp. (Capital Markets) | &nbsp;&nbsp; 17434 | &nbsp;&nbsp; 1978236 |
| Synovus Financial Corp. (Banks) | &nbsp;&nbsp; 23684 | &nbsp;&nbsp; 1162411 |
| Texas Capital Bancshares, Inc. (Banks)<br> (a) | &nbsp;&nbsp; 7807 | &nbsp;&nbsp; 659926 |
| UMB Financial Corp. (Banks) | &nbsp;&nbsp; 12178 | &nbsp;&nbsp; 1441266 |
| United Bankshares, Inc. (Banks) | &nbsp;&nbsp; 24112 | &nbsp;&nbsp; 897208 |
| Unum Group (Insurance) | &nbsp;&nbsp; 26736 | &nbsp;&nbsp; 2079526 |
| Valley National Bancorp (Banks) | &nbsp;&nbsp; 82135 | &nbsp;&nbsp; 870631 |
| Voya Financial, Inc. (Financial Services) | &nbsp;&nbsp; 16452 | &nbsp;&nbsp; 1230610 |
| Webster Financial Corp. (Banks) | &nbsp;&nbsp; 28357 | &nbsp;&nbsp; 1685540 |
| Western Alliance Bancorp (Banks) | &nbsp;&nbsp; 17664 | &nbsp;&nbsp; 1531822 |
| Western Union Co. / The (Financial Services) | &nbsp;&nbsp; 55108 | &nbsp;&nbsp; 440313 |
| WEX, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 5847 | &nbsp;&nbsp; 921078 |
| Wintrust Financial Corp. (Banks) | &nbsp;&nbsp; 11424 | &nbsp;&nbsp; 1512995 |
| Zions Bancorp N.A. (Banks) | &nbsp;&nbsp; 25189 | &nbsp;&nbsp; 1425194 |
|  |  | &nbsp;&nbsp; 90199632 |
| **Health Care–8.5%** |  |  |
| Avantor, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 116326 | &nbsp;&nbsp; 1451748 |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc. <br> (Biotechnology)<br>(a) | &nbsp;&nbsp; 32764 | &nbsp;&nbsp; 1774498 |
| &nbsp;&nbsp;&nbsp; Bio-Rad Laboratories, Inc. Class A (Life <br> Sciences Tools & Svs.)<br>(a) | &nbsp;&nbsp; 3115 | &nbsp;&nbsp; 873415 |
| Bruker Corp. (Life Sciences Tools & Svs.) | &nbsp;&nbsp; 18898 | &nbsp;&nbsp; 613996 |
| Chemed Corp. (Health Care Providers & Svs.) | &nbsp;&nbsp; 2486 | &nbsp;&nbsp; 1113082 |
| Cytokinetics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 20417 | &nbsp;&nbsp; 1122118 |
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA, Inc. (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 34038 | &nbsp;&nbsp; 431942 |
| &nbsp;&nbsp;&nbsp; Doximity, Inc. Class A (Health Care <br> Technology)<br>(a) | &nbsp;&nbsp; 23274 | &nbsp;&nbsp; 1702493 |
| Elanco Animal Health, Inc. (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 84772 | &nbsp;&nbsp; 1707308 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 17187 | &nbsp;&nbsp; 2183093 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. / The (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 9775 | &nbsp;&nbsp; 1688827 |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 28356 | &nbsp;&nbsp; 577612 |
| Exelixis, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 45935 | &nbsp;&nbsp; 1897115 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc. Class A (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 19218 | &nbsp;&nbsp; 1100615 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 8221 | &nbsp;&nbsp; 400692 |
| Halozyme Therapeutics, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 19958 | &nbsp;&nbsp; 1463720 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc. (Health Care Providers & <br> Svs.)<br>(a) | &nbsp;&nbsp; 14755 | &nbsp;&nbsp; 1398331 |
| &nbsp;&nbsp;&nbsp; Hims & Hers Health, Inc. (Health Care <br> Providers & Svs.)<br>(a) | &nbsp;&nbsp; 35280 | &nbsp;&nbsp; 2001082 |
| Illumina, Inc. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 26226 | &nbsp;&nbsp; 2490683 |
| Jazz Pharmaceuticals PLC (Pharmaceuticals)<br> (a) | &nbsp;&nbsp; 10350 | &nbsp;&nbsp; 1364130 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 11602 | &nbsp;&nbsp; 595067 |
| LivaNova PLC (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 9317 | &nbsp;&nbsp; 488024 |
| Masimo Corp. (Health Care Equip. & Supplies)<br> (a) | &nbsp;&nbsp; 7879 | &nbsp;&nbsp; 1162546 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc. (Life Sciences Tools & <br> Svs.)<br>(a) | &nbsp;&nbsp; 3787 | &nbsp;&nbsp; 1947124 |
| Neurocrine Biosciences, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 16924 | &nbsp;&nbsp; 2375791 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 27693 | &nbsp;&nbsp; 768758 |
| &nbsp;&nbsp;&nbsp; Penumbra, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 6654 | &nbsp;&nbsp; 1685591 |
| Perrigo Co. PLC (Pharmaceuticals) | &nbsp;&nbsp; 23476 | &nbsp;&nbsp; 522811 |
| Repligen Corp. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 9023 | &nbsp;&nbsp; 1206104 |
| Roivant Sciences Ltd. (Biotechnology)<br> (a) | &nbsp;&nbsp; 73408 | &nbsp;&nbsp; 1110663 |
| Sotera Health Co. (Life Sciences Tools & Svs.)<br> (a) | &nbsp;&nbsp; 30050 | &nbsp;&nbsp; 472687 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. (Health Care Providers <br> & Svs.)<br>(a) | &nbsp;&nbsp; 15075 | &nbsp;&nbsp; 3060828 |
| United Therapeutics Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 7717 | &nbsp;&nbsp; 3235044 |
|  |  | &nbsp;&nbsp; 45987538 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P MidCap 400**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials–23.1%** |  |  |
| AAON, Inc. (Building Products) | &nbsp;&nbsp; 11547 | &nbsp;&nbsp; $1078952 |
| Acuity, Inc. (Electrical Equip.) | &nbsp;&nbsp; 5178 | &nbsp;&nbsp; 1783251 |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 12206 | &nbsp;&nbsp; 1692972 |
| AECOM (Construction & Engineering) | &nbsp;&nbsp; 22599 | &nbsp;&nbsp; 2948492 |
| AeroVironment, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 5429 | &nbsp;&nbsp; 1709538 |
| AGCO Corp. (Machinery) | &nbsp;&nbsp; 10568 | &nbsp;&nbsp; 1131516 |
| Alaska Air Group, Inc. (Passenger Airlines)<br> (a) | &nbsp;&nbsp; 19676 | &nbsp;&nbsp; 979471 |
| &nbsp;&nbsp;&nbsp; American Airlines Group, Inc. <br> (Passenger Airlines)<br>(a) | &nbsp;&nbsp; 112588 | &nbsp;&nbsp; 1265489 |
| API Group Corp. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 63158 | &nbsp;&nbsp; 2170741 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 6499 | &nbsp;&nbsp; 1696564 |
| ATI, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 23518 | &nbsp;&nbsp; 1912954 |
| &nbsp;&nbsp;&nbsp; Avis Budget Group, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 2882 | &nbsp;&nbsp; 462777 |
| Brink's Co. / The (Commercial Svs. & Supplies) | &nbsp;&nbsp; 7109 | &nbsp;&nbsp; 830758 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 15596 | &nbsp;&nbsp; 2875435 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. Class A <br> (Professional Svs.)<br>(a) | &nbsp;&nbsp; 3753 | &nbsp;&nbsp; 1871921 |
| Carlisle Cos., Inc. (Building Products) | &nbsp;&nbsp; 7278 | &nbsp;&nbsp; 2394171 |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 8506 | &nbsp;&nbsp; 2088563 |
| Chart Industries, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 7539 | &nbsp;&nbsp; 1508931 |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. (Commercial Svs. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 8602 | &nbsp;&nbsp; 1997556 |
| CNH Industrial N.V. (Machinery) | &nbsp;&nbsp; 151535 | &nbsp;&nbsp; 1644155 |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 6007 | &nbsp;&nbsp; 4956856 |
| Concentrix Corp. (Professional Svs.) | &nbsp;&nbsp; 7635 | &nbsp;&nbsp; 352355 |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc. Class A (Trading Companies <br> & Distributors)<br>(a) | &nbsp;&nbsp; 32361 | &nbsp;&nbsp; 1741993 |
| Crane Co. (Machinery) | &nbsp;&nbsp; 8346 | &nbsp;&nbsp; 1536832 |
| Curtiss-Wright Corp. (Aerospace & Defense) | &nbsp;&nbsp; 6429 | &nbsp;&nbsp; 3490561 |
| Donaldson Co., Inc. (Machinery) | &nbsp;&nbsp; 19882 | &nbsp;&nbsp; 1627342 |
| EnerSys (Electrical Equip.) | &nbsp;&nbsp; 6393 | &nbsp;&nbsp; 722153 |
| Esab Corp. (Machinery) | &nbsp;&nbsp; 9736 | &nbsp;&nbsp; 1087901 |
| ExlService Holdings, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 27559 | &nbsp;&nbsp; 1213423 |
| Exponent, Inc. (Professional Svs.) | &nbsp;&nbsp; 8617 | &nbsp;&nbsp; 598709 |
| Flowserve Corp. (Machinery) | &nbsp;&nbsp; 22316 | &nbsp;&nbsp; 1185872 |
| Fluor Corp. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 27585 | &nbsp;&nbsp; 1160501 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 20482 | &nbsp;&nbsp; 1093534 |
| FTI Consulting, Inc. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 5417 | &nbsp;&nbsp; 875658 |
| &nbsp;&nbsp;&nbsp; GATX Corp. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 6074 | &nbsp;&nbsp; 1061735 |
| Genpact Ltd. (Professional Svs.) | &nbsp;&nbsp; 27654 | &nbsp;&nbsp; 1158426 |
| Graco, Inc. (Machinery) | &nbsp;&nbsp; 28273 | &nbsp;&nbsp; 2402074 |
| GXO Logistics, Inc. (Air Freight & Logistics)<br> (a) | &nbsp;&nbsp; 19533 | &nbsp;&nbsp; 1033100 |
| Hexcel Corp. (Aerospace & Defense) | &nbsp;&nbsp; 13576 | &nbsp;&nbsp; 851215 |
| Insperity, Inc. (Professional Svs.) | &nbsp;&nbsp; 6107 | &nbsp;&nbsp; 300464 |
| ITT, Inc. (Machinery) | &nbsp;&nbsp; 13309 | &nbsp;&nbsp; 2379117 |
| KBR, Inc. (Professional Svs.) | &nbsp;&nbsp; 21985 | &nbsp;&nbsp; 1039671 |
| Kirby Corp. (Marine Transportation)<br> (a) | &nbsp;&nbsp; 9521 | &nbsp;&nbsp; 794527 |
| &nbsp;&nbsp;&nbsp; Knight-Swift Transportation Holdings, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 27694 | &nbsp;&nbsp; 1094190 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc. <br> (Aerospace & Defense)<br>(a) | &nbsp;&nbsp; 28802 | &nbsp;&nbsp; 2631639 |
| Landstar System, Inc. (Ground Transportation) | &nbsp;&nbsp; 5913 | &nbsp;&nbsp; 724697 |
| Lincoln Electric Holdings, Inc. (Machinery) | &nbsp;&nbsp; 9416 | &nbsp;&nbsp; 2220575 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 10461 | &nbsp;&nbsp; 2226205 |
| Maximus, Inc. (Professional Svs.) | &nbsp;&nbsp; 9615 | &nbsp;&nbsp; 878523 |
| Middleby Corp. / The (Machinery)<br> (a) | &nbsp;&nbsp; 7956 | &nbsp;&nbsp; 1057591 |
| &nbsp;&nbsp;&nbsp; MSA Safety, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 6278 | &nbsp;&nbsp; 1080255 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc. Class A (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 7790 | &nbsp;&nbsp; 717771 |
| Mueller Industries, Inc. (Machinery) | &nbsp;&nbsp; 18889 | &nbsp;&nbsp; 1909867 |
| NEXTracker, Inc. Class A (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 25247 | &nbsp;&nbsp; 1868026 |
| nVent Electric PLC (Electrical Equip.) | &nbsp;&nbsp; 27463 | &nbsp;&nbsp; 2708950 |
| Oshkosh Corp. (Machinery) | &nbsp;&nbsp; 10920 | &nbsp;&nbsp; 1416324 |
| Owens Corning (Building Products) | &nbsp;&nbsp; 14270 | &nbsp;&nbsp; 2018634 |
| Parsons Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 9111 | &nbsp;&nbsp; 755484 |
| Paylocity Holding Corp. (Professional Svs.)<br> (a) | &nbsp;&nbsp; 7624 | &nbsp;&nbsp; 1214275 |
| RB Global, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 31669 | &nbsp;&nbsp; 3431653 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials (continued)** |  |  |
| RBC Bearings, Inc. (Machinery)<br> (a) | &nbsp;&nbsp; 5363 | &nbsp;&nbsp; $2093125 |
| Regal Rexnord Corp. (Electrical Equip.) | &nbsp;&nbsp; 11325 | &nbsp;&nbsp; 1624458 |
| Ryder System, Inc. (Ground Transportation) | &nbsp;&nbsp; 6960 | &nbsp;&nbsp; 1312934 |
| Saia, Inc. (Ground Transportation)<br> (a) | &nbsp;&nbsp; 4545 | &nbsp;&nbsp; 1360591 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. <br> (Professional Svs.)<br>| &nbsp;&nbsp; 7998 | &nbsp;&nbsp; 794761 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC <br> (Electrical Equip.)<br>| &nbsp;&nbsp; 24851 | &nbsp;&nbsp; 759198 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. <br> (Building Products)<br>| &nbsp;&nbsp; 7101 | &nbsp;&nbsp; 1189133 |
| Terex Corp. (Machinery) | &nbsp;&nbsp; 11193 | &nbsp;&nbsp; 574201 |
| Tetra Tech, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 44837 | &nbsp;&nbsp; 1496659 |
| Timken Co. / The (Machinery) | &nbsp;&nbsp; 10814 | &nbsp;&nbsp; 812997 |
| Toro Co. / The (Machinery) | &nbsp;&nbsp; 16839 | &nbsp;&nbsp; 1283132 |
| TransUnion (Professional Svs.) | &nbsp;&nbsp; 33239 | &nbsp;&nbsp; 2784763 |
| Trex Co., Inc. (Building Products)<br> (a) | &nbsp;&nbsp; 18298 | &nbsp;&nbsp; 945458 |
| UFP Industries, Inc. (Building Products) | &nbsp;&nbsp; 9993 | &nbsp;&nbsp; 934246 |
| &nbsp;&nbsp;&nbsp; Valmont Industries, Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 3368 | &nbsp;&nbsp; 1305875 |
| &nbsp;&nbsp;&nbsp; Watsco, Inc. (Trading Companies & <br> Distributors)<br>| &nbsp;&nbsp; 5956 | &nbsp;&nbsp; 2408011 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc. Class A <br> (Machinery)<br>| &nbsp;&nbsp; 4678 | &nbsp;&nbsp; 1306472 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. (Trading Companies <br> & Distributors)<br>| &nbsp;&nbsp; 8303 | &nbsp;&nbsp; 1756085 |
| Woodward, Inc. (Aerospace & Defense) | &nbsp;&nbsp; 10232 | &nbsp;&nbsp; 2585729 |
| XPO, Inc. (Ground Transportation)<br> (a) | &nbsp;&nbsp; 20094 | &nbsp;&nbsp; 2597551 |
|  |  | &nbsp;&nbsp; 124588264 |
| **Information Technology–13.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 21154 | &nbsp;&nbsp; 617697 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 19398 | &nbsp;&nbsp; 550903 |
| Appfolio, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 3903 | &nbsp;&nbsp; 1075901 |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc. (Electronic Equip., Instr. <br> & Comp.)<br>(a) | &nbsp;&nbsp; 8788 | &nbsp;&nbsp; 1063348 |
| ASGN, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 7474 | &nbsp;&nbsp; 353894 |
| Avnet, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 14309 | &nbsp;&nbsp; 748074 |
| Belden, Inc. (Electronic Equip., Instr. & Comp.) | &nbsp;&nbsp; 6760 | &nbsp;&nbsp; 813025 |
| BILL Holdings, Inc. (Software)<br> (a) | &nbsp;&nbsp; 15646 | &nbsp;&nbsp; 828769 |
| Blackbaud, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6348 | &nbsp;&nbsp; 408240 |
| Ciena Corp. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 24122 | &nbsp;&nbsp; 3513852 |
| Cirrus Logic, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 8759 | &nbsp;&nbsp; 1097415 |
| &nbsp;&nbsp;&nbsp; Cognex Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 28649 | &nbsp;&nbsp; 1297800 |
| &nbsp;&nbsp;&nbsp; Coherent Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 26523 | &nbsp;&nbsp; 2857058 |
| Commvault Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 7586 | &nbsp;&nbsp; 1432085 |
| &nbsp;&nbsp;&nbsp; Crane NXT Co. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 8426 | &nbsp;&nbsp; 565132 |
| Docusign, Inc. (Software)<br> (a) | &nbsp;&nbsp; 34478 | &nbsp;&nbsp; 2485519 |
| Dolby Laboratories, Inc. Class A (Software) | &nbsp;&nbsp; 10440 | &nbsp;&nbsp; 755543 |
| Dropbox, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 31580 | &nbsp;&nbsp; 954032 |
| Dynatrace, Inc. (Software)<br> (a) | &nbsp;&nbsp; 51446 | &nbsp;&nbsp; 2492559 |
| Entegris, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 25868 | &nbsp;&nbsp; 2391755 |
| Fabrinet (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 6114 | &nbsp;&nbsp; 2229287 |
| Flex Ltd. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 64042 | &nbsp;&nbsp; 3712515 |
| Guidewire Software, Inc. (Software)<br> (a) | &nbsp;&nbsp; 14366 | &nbsp;&nbsp; 3302169 |
| &nbsp;&nbsp;&nbsp; IPG Photonics Corp. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 4322 | &nbsp;&nbsp; 342259 |
| Kyndryl Holdings, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 39440 | &nbsp;&nbsp; 1184383 |
| &nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp. (Semiconductors <br> & Equip.)<br>(a) | &nbsp;&nbsp; 23359 | &nbsp;&nbsp; 1712682 |
| &nbsp;&nbsp;&nbsp; Littelfuse, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 4229 | &nbsp;&nbsp; 1095353 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. <br> (Communications Equip.)<br>(a) | &nbsp;&nbsp; 11910 | &nbsp;&nbsp; 1937876 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 10928 | &nbsp;&nbsp; 1360427 |
| Manhattan Associates, Inc. (Software)<br> (a) | &nbsp;&nbsp; 10318 | &nbsp;&nbsp; 2114984 |
| MKS, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 11459 | &nbsp;&nbsp; 1418280 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc. (Electronic Equip., Instr. & <br> Comp.)<br>(a) | &nbsp;&nbsp; 6138 | &nbsp;&nbsp; 614721 |
| Nutanix, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 45742 | &nbsp;&nbsp; 3402747 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P MidCap 400**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Okta, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 28523 | &nbsp;&nbsp; $2615559 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 8362 | &nbsp;&nbsp; 1080538 |
| Pegasystems, Inc. (Software) | &nbsp;&nbsp; 15764 | &nbsp;&nbsp; 906430 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 9572 | &nbsp;&nbsp; 384890 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc. Class A (Tech. Hardware, <br> Storage & Periph.)<br>(a) | &nbsp;&nbsp; 52979 | &nbsp;&nbsp; 4440170 |
| Qualys, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6159 | &nbsp;&nbsp; 815020 |
| Rambus, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 18359 | &nbsp;&nbsp; 1913008 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc. (Semiconductors & <br> Equip.)<br>(a) | &nbsp;&nbsp; 5599 | &nbsp;&nbsp; 734197 |
| Synaptics, Inc. (Semiconductors & Equip.)<br> (a) | &nbsp;&nbsp; 6577 | &nbsp;&nbsp; 449472 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 13086 | &nbsp;&nbsp; 2142832 |
| Twilio, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 26181 | &nbsp;&nbsp; 2620456 |
| &nbsp;&nbsp;&nbsp; Universal Display Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 7543 | &nbsp;&nbsp; 1083401 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. (Electronic Equip., Instr. & <br> Comp.)<br>| &nbsp;&nbsp; 25032 | &nbsp;&nbsp; 1050593 |
|  |  | &nbsp;&nbsp; 70966850 |
| **Materials–4.9%** |  |  |
| Alcoa Corp. (Metals & Mining) | &nbsp;&nbsp; 44179 | &nbsp;&nbsp; 1453047 |
| AptarGroup, Inc. (Containers & Packaging) | &nbsp;&nbsp; 11241 | &nbsp;&nbsp; 1502472 |
| Ashland, Inc. (Chemicals) | &nbsp;&nbsp; 7799 | &nbsp;&nbsp; 373650 |
| Avient Corp. (Chemicals) | &nbsp;&nbsp; 15620 | &nbsp;&nbsp; 514679 |
| Axalta Coating Systems Ltd. (Chemicals)<br> (a) | &nbsp;&nbsp; 36954 | &nbsp;&nbsp; 1057623 |
| Cabot Corp. (Chemicals) | &nbsp;&nbsp; 9078 | &nbsp;&nbsp; 690382 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 84411 | &nbsp;&nbsp; 1029814 |
| Commercial Metals Co. (Metals & Mining) | &nbsp;&nbsp; 19099 | &nbsp;&nbsp; 1093991 |
| &nbsp;&nbsp;&nbsp; Crown Holdings, Inc. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 19630 | &nbsp;&nbsp; 1896062 |
| Eagle Materials, Inc. (Construction Materials) | &nbsp;&nbsp; 5537 | &nbsp;&nbsp; 1290342 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 50549 | &nbsp;&nbsp; 989244 |
| Greif, Inc. Class A (Containers & Packaging) | &nbsp;&nbsp; 4459 | &nbsp;&nbsp; 266470 |
| Knife River Corp. (Construction Materials)<br> (a) | &nbsp;&nbsp; 9669 | &nbsp;&nbsp; 743256 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. (Paper & Forest <br> Products)<br>| &nbsp;&nbsp; 10813 | &nbsp;&nbsp; 960627 |
| MP Materials Corp. (Metals & Mining)<br> (a) | &nbsp;&nbsp; 22966 | &nbsp;&nbsp; 1540330 |
| NewMarket Corp. (Chemicals) | &nbsp;&nbsp; 1331 | &nbsp;&nbsp; 1102348 |
| Olin Corp. (Chemicals) | &nbsp;&nbsp; 19562 | &nbsp;&nbsp; 488854 |
| Reliance, Inc. (Metals & Mining) | &nbsp;&nbsp; 8974 | &nbsp;&nbsp; 2520168 |
| Royal Gold, Inc. (Metals & Mining) | &nbsp;&nbsp; 11233 | &nbsp;&nbsp; 2253115 |
| RPM International, Inc. (Chemicals) | &nbsp;&nbsp; 21905 | &nbsp;&nbsp; 2582161 |
| Scotts Miracle-Gro Co. / The (Chemicals) | &nbsp;&nbsp; 7586 | &nbsp;&nbsp; 432023 |
| Silgan Holdings, Inc. (Containers & Packaging) | &nbsp;&nbsp; 15153 | &nbsp;&nbsp; 651731 |
| &nbsp;&nbsp;&nbsp; Sonoco Products Co. (Containers & <br> Packaging)<br>| &nbsp;&nbsp; 16830 | &nbsp;&nbsp; 725205 |
| Westlake Corp. (Chemicals) | &nbsp;&nbsp; 5690 | &nbsp;&nbsp; 438471 |
|  |  | &nbsp;&nbsp; 26596065 |
| **Real Estate–6.6%** |  |  |
| Agree Realty Corp. (Retail REITs) | &nbsp;&nbsp; 18850 | &nbsp;&nbsp; 1339104 |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent Class A <br> (Residential REITs)<br>| &nbsp;&nbsp; 55599 | &nbsp;&nbsp; 1848667 |
| Brixmor Property Group, Inc. (Retail REITs) | &nbsp;&nbsp; 52230 | &nbsp;&nbsp; 1445726 |
| COPT Defense Properties (Office REITs) | &nbsp;&nbsp; 19228 | &nbsp;&nbsp; 558766 |
| Cousins Properties, Inc. (Office REITs) | &nbsp;&nbsp; 28661 | &nbsp;&nbsp; 829449 |
| CubeSmart (Specialized REITs) | &nbsp;&nbsp; 38910 | &nbsp;&nbsp; 1582081 |
| EastGroup Properties, Inc. (Industrial REITs) | &nbsp;&nbsp; 9088 | &nbsp;&nbsp; 1538235 |
| EPR Properties (Specialized REITs) | &nbsp;&nbsp; 12988 | &nbsp;&nbsp; 753434 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 33067 | &nbsp;&nbsp; 2007167 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate (continued)** |  |  |
| &nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. <br> (Industrial REITs)<br>| &nbsp;&nbsp; 22592 | &nbsp;&nbsp; $1162810 |
| &nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, Inc. <br> (Specialized REITs)<br>| &nbsp;&nbsp; 48290 | &nbsp;&nbsp; 2250797 |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 59995 | &nbsp;&nbsp; 1081710 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. <br> (Residential REITs)<br>| &nbsp;&nbsp; 39830 | &nbsp;&nbsp; 652814 |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 8085 | &nbsp;&nbsp; 2411594 |
| Kilroy Realty Corp. (Office REITs) | &nbsp;&nbsp; 18570 | &nbsp;&nbsp; 784582 |
| Kite Realty Group Trust (Retail REITs) | &nbsp;&nbsp; 37515 | &nbsp;&nbsp; 836584 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co. Class A <br> (Specialized REITs)<br>| &nbsp;&nbsp; 14811 | &nbsp;&nbsp; 1813163 |
| &nbsp;&nbsp;&nbsp; National Storage Affiliates Trust <br> (Specialized REITs)<br>| &nbsp;&nbsp; 12047 | &nbsp;&nbsp; 364060 |
| NNN REIT, Inc. (Retail REITs) | &nbsp;&nbsp; 32212 | &nbsp;&nbsp; 1371265 |
| &nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 50336 | &nbsp;&nbsp; 2125186 |
| &nbsp;&nbsp;&nbsp; Park Hotels & Resorts, Inc. (Hotel & Resort <br> REITs)<br>| &nbsp;&nbsp; 34111 | &nbsp;&nbsp; 377950 |
| PotlatchDeltic Corp. (Specialized REITs) | &nbsp;&nbsp; 12132 | &nbsp;&nbsp; 494379 |
| Rayonier, Inc. (Specialized REITs) | &nbsp;&nbsp; 24200 | &nbsp;&nbsp; 642268 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. <br> (Industrial REITs)<br>| &nbsp;&nbsp; 40291 | &nbsp;&nbsp; 1656363 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. (Health Care <br> REITs)<br>| &nbsp;&nbsp; 40916 | &nbsp;&nbsp; 762674 |
| STAG Industrial, Inc. (Industrial REITs) | &nbsp;&nbsp; 31856 | &nbsp;&nbsp; 1124198 |
| Vornado Realty Trust (Office REITs) | &nbsp;&nbsp; 27525 | &nbsp;&nbsp; 1115588 |
| W.P. Carey, Inc. (Diversified REITs) | &nbsp;&nbsp; 37367 | &nbsp;&nbsp; 2524888 |
|  |  | &nbsp;&nbsp; 35455502 |
| **Utilities–3.5%** |  |  |
| ALLETE, Inc. (Electric Utilities) | &nbsp;&nbsp; 9880 | &nbsp;&nbsp; 656032 |
| Black Hills Corp. (Multi-Utilities) | &nbsp;&nbsp; 12431 | &nbsp;&nbsp; 765625 |
| Essential Utilities, Inc. (Water Utilities) | &nbsp;&nbsp; 47857 | &nbsp;&nbsp; 1909494 |
| IDACORP, Inc. (Electric Utilities) | &nbsp;&nbsp; 9220 | &nbsp;&nbsp; 1218423 |
| National Fuel Gas Co. (Gas Utilities) | &nbsp;&nbsp; 15419 | &nbsp;&nbsp; 1424253 |
| New Jersey Resources Corp. (Gas Utilities) | &nbsp;&nbsp; 17140 | &nbsp;&nbsp; 825291 |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. <br> (Multi-Utilities)<br>| &nbsp;&nbsp; 10476 | &nbsp;&nbsp; 613998 |
| OGE Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 34364 | &nbsp;&nbsp; 1590022 |
| ONE Gas, Inc. (Gas Utilities) | &nbsp;&nbsp; 10238 | &nbsp;&nbsp; 828664 |
| &nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. (Ind. Power & <br> Renewable Elec.)<br>| &nbsp;&nbsp; 10361 | &nbsp;&nbsp; 997246 |
| Portland General Electric Co. (Electric Utilities) | &nbsp;&nbsp; 18695 | &nbsp;&nbsp; 822580 |
| Southwest Gas Holdings, Inc. (Gas Utilities) | &nbsp;&nbsp; 10931 | &nbsp;&nbsp; 856335 |
| Spire, Inc. (Gas Utilities) | &nbsp;&nbsp; 10072 | &nbsp;&nbsp; 821070 |
| &nbsp;&nbsp;&nbsp; Talen Energy Corp. (Ind. Power & Renewable <br> Elec.)<br>(a) | &nbsp;&nbsp; 7795 | &nbsp;&nbsp; 3315837 |
| TXNM Energy, Inc. (Electric Utilities) | &nbsp;&nbsp; 16183 | &nbsp;&nbsp; 915149 |
| UGI Corp. (Gas Utilities) | &nbsp;&nbsp; 36673 | &nbsp;&nbsp; 1219744 |
|  |  | &nbsp;&nbsp; 18779763 |
| **Total Common Stocks (Cost $447,907,365)** |  | &nbsp;&nbsp; $532301456 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–0.0%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bill<br> (b) | 0.000% | 11/13/2025 | &nbsp;&nbsp; $203000 | &nbsp;&nbsp; $202026 |
| **Total U.S. Treasury Obligations (Cost $202,002)** | **Total U.S. Treasury Obligations (Cost $202,002)** | **Total U.S. Treasury Obligations (Cost $202,002)** | **Total U.S. Treasury Obligations (Cost $202,002)** | &nbsp;&nbsp; $202026 |
| **Total Investments – 98.8% (Cost $448,109,367)** | **Total Investments – 98.8% (Cost $448,109,367)** | **Total Investments – 98.8% (Cost $448,109,367)** | (c) | &nbsp;&nbsp; $532503482 |
| **Other Assets in Excess of Liabilities – 1.2%** | **Other Assets in Excess of Liabilities – 1.2%** | **Other Assets in Excess of Liabilities – 1.2%** | (b) | &nbsp;&nbsp; 6599806 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $539103288 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP S&P MidCap 400**<sup>®</sup> **Index Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security is fully pledged, in addition to $37,343 of the Portfolio's cash holdings, as collateral for the futures contracts outstanding at September 30, 2025. See also <br> the following Schedule of Open Futures Contracts.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P MidCap 400 Index - Long | 11 | December 19, 2025 | &nbsp;&nbsp; $3644362 | &nbsp;&nbsp; $3614820 | &nbsp;&nbsp; $(29542)<br>| &nbsp;&nbsp; $3710 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$3644362** | &nbsp;&nbsp; **$3614820** | &nbsp;&nbsp; **$(29542)**<br>| &nbsp;&nbsp; **$3710** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Growth Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–98.8%** | **Shares** | **Value** |
| **Communication Services–11.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 50003 | &nbsp;&nbsp; $12155729 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 44282 | &nbsp;&nbsp; 10784881 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 6335 | &nbsp;&nbsp; 1277770 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 29127 | &nbsp;&nbsp; 21390286 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 8485 | &nbsp;&nbsp; 10172836 |
| ROBLOX Corp. Class A (Entertainment)<br> (a) | &nbsp;&nbsp; 4624 | &nbsp;&nbsp; 640517 |
|  |  | &nbsp;&nbsp; 56422019 |
| **Consumer Discretionary–13.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 20327 | &nbsp;&nbsp; 2468104 |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 95435 | &nbsp;&nbsp; 20954663 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 1034 | &nbsp;&nbsp; 5582845 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc. (Hotels, <br> Restaurants & Leisure)<br>(a) | &nbsp;&nbsp; 15161 | &nbsp;&nbsp; 594160 |
| Coupang, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 39595 | &nbsp;&nbsp; 1274959 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 6735 | &nbsp;&nbsp; 1831853 |
| Garmin Ltd. (Household Durables) | &nbsp;&nbsp; 9387 | &nbsp;&nbsp; 2311267 |
| Home Depot, Inc. / The (Specialty Retail) | &nbsp;&nbsp; 11890 | &nbsp;&nbsp; 4817709 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 2673 | &nbsp;&nbsp; 838146 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 8332 | &nbsp;&nbsp; 943349 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 38653 | &nbsp;&nbsp; 17189762 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 29027 | &nbsp;&nbsp; 4195563 |
|  |  | &nbsp;&nbsp; 63002380 |
| **Consumer Staples–2.7%** |  |  |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 8943 | &nbsp;&nbsp; 8277909 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 42339 | &nbsp;&nbsp; 4363457 |
|  |  | &nbsp;&nbsp; 12641366 |
| **Financials–6.2%** |  |  |
| American Express Co. (Consumer Finance) | &nbsp;&nbsp; 2668 | &nbsp;&nbsp; 886203 |
| Blackstone, Inc. (Capital Markets) | &nbsp;&nbsp; 15481 | &nbsp;&nbsp; 2644929 |
| Charles Schwab Corp. / The (Capital Markets) | &nbsp;&nbsp; 58566 | &nbsp;&nbsp; 5591296 |
| Klarna Group PLC (Financial Services)<br> (a) | &nbsp;&nbsp; 3860 | &nbsp;&nbsp; 141469 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 10422 | &nbsp;&nbsp; 5928138 |
| Moody's Corp. (Capital Markets) | &nbsp;&nbsp; 4801 | &nbsp;&nbsp; 2287580 |
| Morgan Stanley (Capital Markets) | &nbsp;&nbsp; 19168 | &nbsp;&nbsp; 3046945 |
| Nasdaq, Inc. (Capital Markets) | &nbsp;&nbsp; 7306 | &nbsp;&nbsp; 646216 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 25316 | &nbsp;&nbsp; 8642376 |
|  |  | &nbsp;&nbsp; 29815152 |
| **Health Care–6.7%** |  |  |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 31118 | &nbsp;&nbsp; 7205062 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 18457 | &nbsp;&nbsp; 1801957 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | &nbsp;&nbsp; 40685 | &nbsp;&nbsp; 1834894 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 21297 | &nbsp;&nbsp; 3342777 |
| Cencora, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 2532 | &nbsp;&nbsp; 791326 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 12990 | &nbsp;&nbsp; 9911370 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 8145 | &nbsp;&nbsp; 904095 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 6063 | &nbsp;&nbsp; 2711555 |
| Natera, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 3982 | &nbsp;&nbsp; 640983 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 3361 | &nbsp;&nbsp; 1889789 |
| Vertex Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 2089 | &nbsp;&nbsp; 818136 |
|  |  | &nbsp;&nbsp; 31851944 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Industrials–5.9%** |  |  |
| Axon Enterprise, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 809 | &nbsp;&nbsp; $580571 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 22752 | &nbsp;&nbsp; 4670076 |
| &nbsp;&nbsp;&nbsp; Comfort Systems U.S.A., Inc. (Construction & <br> Engineering)<br>| &nbsp;&nbsp; 3188 | &nbsp;&nbsp; 2630674 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. (Trading Companies <br> & Distributors)<br>| &nbsp;&nbsp; 3321 | &nbsp;&nbsp; 745830 |
| GE Vernova, Inc. (Electrical Equip.) | &nbsp;&nbsp; 3179 | &nbsp;&nbsp; 1954767 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 17037 | &nbsp;&nbsp; 5125070 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. <br> (Industrial Conglomerates)<br>| &nbsp;&nbsp; 5470 | &nbsp;&nbsp; 1151435 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 6467 | &nbsp;&nbsp; 1269019 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC <br> (Building Products)<br>| &nbsp;&nbsp; 9251 | &nbsp;&nbsp; 1017148 |
| MasTec, Inc. (Construction & Engineering)<br> (a) | &nbsp;&nbsp; 5241 | &nbsp;&nbsp; 1115337 |
| Parker-Hannifin Corp. (Machinery) | &nbsp;&nbsp; 3827 | &nbsp;&nbsp; 2901440 |
| Trane Technologies PLC (Building Products) | &nbsp;&nbsp; 3901 | &nbsp;&nbsp; 1646066 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 24267 | &nbsp;&nbsp; 2377438 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 3886 | &nbsp;&nbsp; 858145 |
|  |  | &nbsp;&nbsp; 28043016 |
| **Information Technology–52.3%** |  |  |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 10551 | &nbsp;&nbsp; 3721865 |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 74105 | &nbsp;&nbsp; 11989448 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. Class A (Electronic Equip., <br> Instr. & Comp.)<br>| &nbsp;&nbsp; 49997 | &nbsp;&nbsp; 6187129 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 3158 | &nbsp;&nbsp; 775921 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 158852 | &nbsp;&nbsp; 40448485 |
| AppLovin Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 2240 | &nbsp;&nbsp; 1609530 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 23061 | &nbsp;&nbsp; 3360218 |
| Atlassian Corp. Class A (Software)<br> (a) | &nbsp;&nbsp; 4234 | &nbsp;&nbsp; 676170 |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 88346 | &nbsp;&nbsp; 29146229 |
| Cadence Design Systems, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2699 | &nbsp;&nbsp; 948051 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding Ltd. <br> (Semiconductors & Equip.)<br>(a) | &nbsp;&nbsp; 5184 | &nbsp;&nbsp; 754842 |
| Crowdstrike Holdings, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 1460 | &nbsp;&nbsp; 715955 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc. Class C (Tech. <br> Hardware, Storage & Periph.)<br>| &nbsp;&nbsp; 12396 | &nbsp;&nbsp; 1757381 |
| Elastic N.V. (Software)<br> (a) | &nbsp;&nbsp; 14076 | &nbsp;&nbsp; 1189281 |
| Figma, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 2635 | &nbsp;&nbsp; 136678 |
| Flex Ltd. (Electronic Equip., Instr. & Comp.)<br> (a) | &nbsp;&nbsp; 29341 | &nbsp;&nbsp; 1700898 |
| Fortinet, Inc. (Software)<br> (a) | &nbsp;&nbsp; 14668 | &nbsp;&nbsp; 1233285 |
| GoDaddy, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 11100 | &nbsp;&nbsp; 1518813 |
| HubSpot, Inc. (Software)<br> (a) | &nbsp;&nbsp; 2389 | &nbsp;&nbsp; 1117574 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. <br> (IT Svs.)<br>| &nbsp;&nbsp; 9423 | &nbsp;&nbsp; 2658794 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 7065 | &nbsp;&nbsp; 4824759 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 60227 | &nbsp;&nbsp; 8064395 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 88202 | &nbsp;&nbsp; 45684226 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. <br> (Communications Equip.)<br>| &nbsp;&nbsp; 5229 | &nbsp;&nbsp; 2391169 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 14370 | &nbsp;&nbsp; 1702270 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 242399 | &nbsp;&nbsp; 45226805 |
| Oracle Corp. (Software) | &nbsp;&nbsp; 31372 | &nbsp;&nbsp; 8823061 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 41550 | &nbsp;&nbsp; 7579551 |
| Palo Alto Networks, Inc. (Software)<br> (a) | &nbsp;&nbsp; 5196 | &nbsp;&nbsp; 1058010 |
| QUALCOMM, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 15559 | &nbsp;&nbsp; 2588395 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 10555 | &nbsp;&nbsp; 2501535 |
| ServiceNow, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6089 | &nbsp;&nbsp; 5603585 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP BlackRock Advantage Large Cap Growth Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Snowflake, Inc. (IT Svs.)<br> (a) | &nbsp;&nbsp; 2512 | &nbsp;&nbsp; $566582 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 7269 | &nbsp;&nbsp; 1335533 |
|  |  | &nbsp;&nbsp; 249596423 |
| **Total Common Stocks (Cost $358,614,972)** |  | &nbsp;&nbsp; $471372300 |
| **Total Investments – 98.8% (Cost $358,614,972)**<br> (b) |  | &nbsp;&nbsp; $471372300 |
| **Other Assets in Excess of Liabilities – 1.2%**<br> (c) |  | &nbsp;&nbsp; 5898003 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $477270303 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Includes $393,562 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini Nasdaq-100 Index - Long | 13 | December 19, 2025 | &nbsp;&nbsp; $6453400 | &nbsp;&nbsp; $6474455 | &nbsp;&nbsp; $21055 | &nbsp;&nbsp; $6983 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$6453400** | &nbsp;&nbsp; **$6474455** | &nbsp;&nbsp; **$21055** | &nbsp;&nbsp; **$6983** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Dynamic Risk Balanced Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–67.4%** | **Shares** | **Value** |
| Invesco QQQ Trust Series 1 ETF  | &nbsp;&nbsp; 66000 | &nbsp;&nbsp; $39624420 |
| iShares AAA CLO Active ETF  | &nbsp;&nbsp; 96000 | &nbsp;&nbsp; 4988640 |
| iShares Core S&P 500 ETF  | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 234255000 |
| iShares Core S&P Mid-Cap ETF  | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 65260000 |
| iShares Core S&P Small-Cap ETF  | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 23766000 |
| iShares Core S&P Total U.S. Stock Market ETF  | &nbsp;&nbsp; 77000 | &nbsp;&nbsp; 11215050 |
| iShares MBS ETF  | &nbsp;&nbsp; 495924 | &nbsp;&nbsp; 47187169 |
| Vanguard Intermediate-Term Corporate Bond ETF  | &nbsp;&nbsp; 1112575 | &nbsp;&nbsp; 93578683 |
| Vanguard Intermediate-Term Treasury ETF  | &nbsp;&nbsp; 144000 | &nbsp;&nbsp; 8644320 |
| Vanguard S&P 500 ETF  | &nbsp;&nbsp; 444000 | &nbsp;&nbsp; 271896720 |
| Vanguard Total Stock Market ETF  | &nbsp;&nbsp; 34000 | &nbsp;&nbsp; 11157780 |
| **Total Exchange Traded Funds (Cost $739,474,946)** |  | &nbsp;&nbsp; $811573782 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–14.9%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bond | 4.000% | 11/15/2042 | &nbsp;&nbsp; $4422000 | &nbsp;&nbsp; $4088277 |
| U.S. Treasury Bond | 2.250% | 02/15/2052 | &nbsp;&nbsp; 14868400 | &nbsp;&nbsp; 9222474 |
| U.S. Treasury Bond | 4.125% | 08/15/2053 | &nbsp;&nbsp; 9642900 | &nbsp;&nbsp; 8715901 |
| U.S. Treasury Bond | 4.250% | 02/15/2054 | &nbsp;&nbsp; 2064600 | &nbsp;&nbsp; 1905723 |
| U.S. Treasury Bond | 4.625% | 05/15/2054 | &nbsp;&nbsp; 5320400 | &nbsp;&nbsp; 5227293 |
| U.S. Treasury Bond | 4.625% | 02/15/2055 | &nbsp;&nbsp; 63000000 | &nbsp;&nbsp; 61927031 |
| U.S. Treasury Bond | 4.750% | 05/15/2055 | &nbsp;&nbsp; 35000000 | &nbsp;&nbsp; 35109375 |
| U.S. Treasury Note | 3.875% | 04/30/2030 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3018984 |
| U.S. Treasury Note | 3.875% | 08/31/2032 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 9970312 |
| U.S. Treasury Note | 4.250% | 05/15/2035 | &nbsp;&nbsp; 1002000 | &nbsp;&nbsp; 1011237 |
| U.S. Treasury Note | 3.250% | 05/15/2042 | &nbsp;&nbsp; 23856400 | &nbsp;&nbsp; 20041240 |
| U.S. Treasury Note | 3.875% | 05/15/2043 | &nbsp;&nbsp; 5624900 | &nbsp;&nbsp; 5095149 |
| U.S. Treasury Note | 4.375% | 08/15/2043 | &nbsp;&nbsp; 2998200 | &nbsp;&nbsp; 2893497 |
| U.S. Treasury Note | 4.750% | 11/15/2043 | &nbsp;&nbsp; 4140100 | &nbsp;&nbsp; 4184088 |
| United States Treasury Inflation Indexed Bond | 0.250% | 07/15/2029 | &nbsp;&nbsp; 7353507 | &nbsp;&nbsp; 7132786 |
| **Total U.S. Treasury Obligations (Cost $186,261,260)** |  |  |  | &nbsp;&nbsp; $179543367 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds–12.0%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services–0.3%** |  |  |  |  |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (a) | 4.876% | 07/16/2030 | &nbsp;&nbsp; $1740000 | &nbsp;&nbsp; $1767966 |
| NTT Finance Corp. (Diversified Telecom. Svs.)<br> (a) | 5.502% | 07/16/2035 | &nbsp;&nbsp; 1740000 | &nbsp;&nbsp; 1799835 |
|  |  |  |  | &nbsp;&nbsp; 3567801 |
| **Consumer Discretionary–0.6%** |  |  |  |  |
| Ford Motor Co. (Automobiles) | 3.250% | 02/12/2032 | &nbsp;&nbsp; 1145000 | &nbsp;&nbsp; 1001845 |
| Hasbro, Inc. (Leisure Products) | 3.550% | 11/19/2026 | &nbsp;&nbsp; 1539000 | &nbsp;&nbsp; 1525859 |
| Jaguar Land Rover Automotive PLC (Automobiles)<br> (a) | 5.500% | 07/15/2029 | &nbsp;&nbsp; 1227000 | &nbsp;&nbsp; 1224053 |
| Mattel, Inc. (Leisure Products)<br> (a) | 5.875% | 12/15/2027 | &nbsp;&nbsp; 1578000 | &nbsp;&nbsp; 1581594 |
| MDC Holdings, Inc. (Household Durables) | 6.000% | 01/15/2043 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1094446 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp. / Canada's Wonderland Co. / Magnum Management Corp. <br> (Hotels, Restaurants & Leisure)<br>| 5.375% | 04/15/2027 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 997408 |
|  |  |  |  | &nbsp;&nbsp; 7425205 |
| **Consumer Staples–0.7%** |  |  |  |  |
| Altria Group, Inc. (Tobacco) | 3.400% | 05/06/2030 | &nbsp;&nbsp; 1934000 | &nbsp;&nbsp; 1855762 |
| B.A.T. Capital Corp. (Tobacco) | 2.259% | 03/25/2028 | &nbsp;&nbsp; 1123000 | &nbsp;&nbsp; 1073149 |
| Cargill, Inc. (Food Products)<br> (a) | 2.125% | 04/23/2030 | &nbsp;&nbsp; 1301000 | &nbsp;&nbsp; 1191263 |
| Imperial Brands Finance PLC (Tobacco)<br> (a) | 5.625% | 07/01/2035 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1529889 |
| &nbsp;&nbsp;&nbsp; JBS U.S.A. Holding Lux SARL / JBS U.S.A. Foods Group Holdings, Inc. / JBS U.S.A. Food Co. <br> (Food Products)<br>(a) | 6.375% | 04/15/2066 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1747668 |
| Pilgrim's Pride Corp. (Food Products) | 4.250% | 04/15/2031 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 966542 |
|  |  |  |  | &nbsp;&nbsp; 8364273 |
| **Energy–1.2%** |  |  |  |  |
| APA Corp. (Oil, Gas & Consumable Fuels) | 4.250% | 01/15/2030 | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp; 1791475 |
| &nbsp;&nbsp;&nbsp; Chevron Phillips Chemical Co. LLC / Chevron Phillips Chemical Co. LP (Oil, Gas & Consumable <br> Fuels)<br>(a) | 4.750% | 05/15/2030 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2034158 |
| Continental Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (a) | 5.750% | 01/15/2031 | &nbsp;&nbsp; 1132000 | &nbsp;&nbsp; 1167357 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 5.600% | 09/01/2034 | &nbsp;&nbsp; 1183000 | &nbsp;&nbsp; 1214125 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 5.700% | 04/01/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2065159 |
| EQT Corp. (Oil, Gas & Consumable Fuels)<br> (a) | 3.625% | 05/15/2031 | &nbsp;&nbsp; 1224000 | &nbsp;&nbsp; 1144531 |
| Hess Corp. (Oil, Gas & Consumable Fuels) | 4.300% | 04/01/2027 | &nbsp;&nbsp; 1806000 | &nbsp;&nbsp; 1811964 |
| Plains All American Pipeline LP / PAA Finance Corp. (Oil, Gas & Consumable Fuels) | 5.700% | 09/15/2034 | &nbsp;&nbsp; 1189000 | &nbsp;&nbsp; 1225535 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Dynamic Risk Balanced Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Energy (continued)** |  |  |  |  |
| Suncor Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.800% | 05/15/2038 | &nbsp;&nbsp; $848000 | &nbsp;&nbsp; $935005 |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | 5.550% | 08/15/2035 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1529880 |
|  |  |  |  | &nbsp;&nbsp; 14919189 |
| **Financials–6.7%** |  |  |  |  |
| American Express Co. (Rate is fixed until 02/16/2027, then SOFR + 100) (Consumer Finance)<br> (b) | 5.098% | 02/16/2028 | &nbsp;&nbsp; 1190000 | &nbsp;&nbsp; 1205970 |
| Apollo Debt Solutions BDC (Capital Markets) | 6.700% | 07/29/2031 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5299057 |
| Aviation Capital Group LLC (Financial Services)<br> (a) | 1.950% | 09/20/2026 | &nbsp;&nbsp; 2008000 | &nbsp;&nbsp; 1962170 |
| Avolon Holdings Funding Ltd. (Financial Services)<br> (a) | 4.900% | 10/10/2030 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4021886 |
| Banco Santander SA (Rate is fixed until 03/24/2027, then H15T1Y + 200) (Banks)<br> (b) | 4.175% | 03/24/2028 | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1797309 |
| Bank of America Corp. (Rate is fixed until 04/29/2030, then SOFR + 215) (Banks)<br> (b) | 2.592% | 04/29/2031 | &nbsp;&nbsp; 1441000 | &nbsp;&nbsp; 1335355 |
| Belrose Funding Trust II (Insurance)<br> (a) | 6.792% | 05/15/2055 | &nbsp;&nbsp; 3761000 | &nbsp;&nbsp; 4072927 |
| Blackstone Private Credit Fund (Capital Markets) | 6.000% | 01/29/2032 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2063750 |
| Carlyle Secured Lending, Inc. (Capital Markets) | 6.750% | 02/18/2030 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1039959 |
| Citigroup, Inc. (Rate is fixed until 09/19/2029, then SOFR + 134) (Banks)<br> (b) | 4.542% | 09/19/2030 | &nbsp;&nbsp; 1191000 | &nbsp;&nbsp; 1196542 |
| Cooperatieve Rabobank UA (Rate is fixed until 02/28/2028, then H15T1Y + 140) (Banks)<br> (a)(b) | 5.564% | 02/28/2029 | &nbsp;&nbsp; 1027000 | &nbsp;&nbsp; 1058225 |
| Danske Bank A/S (Rate is fixed until 04/01/2027, then H15T1Y + 175) (Banks)<br> (a)(b) | 4.298% | 04/01/2028 | &nbsp;&nbsp; 1829000 | &nbsp;&nbsp; 1830698 |
| First Citizens BancShares, Inc. (Rate is fixed until 09/05/2030, then H15T5Y + 185) (Banks)<br> (b) | 5.600% | 09/05/2035 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3989431 |
| General Motors Financial Co., Inc. (Consumer Finance) | 5.750% | 02/08/2031 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1250213 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 04/22/2031, then SOFR + 128) <br> (Capital Markets)<br>(b) | 2.615% | 04/22/2032 | &nbsp;&nbsp; 1344000 | &nbsp;&nbsp; 1219303 |
| Goldman Sachs Private Credit Corp. (Capital Markets)<br> (a) | 6.250% | 05/06/2030 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4087361 |
| Hyundai Capital America (Consumer Finance)<br> (a) | 5.300% | 01/08/2030 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2567644 |
| ING Groep N.V. (Rate is fixed until 11/16/2032, then USISSO05 + 359) (Banks)<br> (b) | 7.000% | Perpetual | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2062151 |
| JPMorgan Chase & Co. (Rate is fixed until 01/25/2032, then SOFR + 126) (Banks)<br> (b) | 2.963% | 01/25/2033 | &nbsp;&nbsp; 1682000 | &nbsp;&nbsp; 1538767 |
| KBC Group N.V. (Rate is fixed until 09/23/2030, then H15T1Y + 85) (Banks)<br> (a)(b) | 4.454% | 09/23/2031 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4973522 |
| LPL Holdings, Inc. (Capital Markets) | 5.200% | 03/15/2030 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1531746 |
| M&T Bank Corp. (Rate is fixed until 07/30/2030, then H15T5Y + 143) (Banks)<br> (b) | 5.400% | 07/30/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2015206 |
| Macquarie Bank Ltd. (Rate is fixed until 08/13/2035, then H15T1Y + 145) (Capital Markets)<br> (a)(b) | 5.642% | 08/13/2036 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2431113 |
| Main Street Capital Corp. (Capital Markets) | 6.950% | 03/01/2029 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3146378 |
| Morgan Stanley Bank N.A. (Rate is fixed until 05/26/2027, then SOFR + 87) (Capital Markets)<br> (b) | 5.504% | 05/26/2028 | &nbsp;&nbsp; 1169000 | &nbsp;&nbsp; 1194764 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank N.A. (Rate is fixed until 07/06/2027, then SOFR + 77) <br> (Capital Markets)<br>(b) | 4.466% | 07/06/2028 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1508411 |
| MSD Investment Corp. (Capital Markets)<br> (a) | 6.250% | 05/31/2030 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3038264 |
| Nationwide Building Society (Financial Services)<br> (a) | 4.000% | 09/14/2026 | &nbsp;&nbsp; 1299000 | &nbsp;&nbsp; 1295831 |
| PayPal Holdings, Inc. (Financial Services) | 2.850% | 10/01/2029 | &nbsp;&nbsp; 1440000 | &nbsp;&nbsp; 1372839 |
| Santander Holdings U.S.A., Inc. (Rate is fixed until 01/06/2027, then SOFR + 125) (Banks)<br> (b) | 2.490% | 01/06/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 975762 |
| Santander U.K. Group Holdings PLC (Rate is fixed until 01/11/2027, then SOFR + 122) (Banks)<br> (b) | 2.469% | 01/11/2028 | &nbsp;&nbsp; 1374000 | &nbsp;&nbsp; 1342009 |
| Sixth Street Lending Partners (Capital Markets)<br> (a) | 6.125% | 07/15/2030 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1550812 |
| Societe Generale SA (Rate is fixed until 01/19/2027, then H15T1Y + 150) (Banks)<br> (a)(b) | 5.519% | 01/19/2028 | &nbsp;&nbsp; 1196000 | &nbsp;&nbsp; 1212003 |
| Sumitomo Mitsui Trust Group, Inc. (Rate is fixed until 09/11/2035, then SOFR + 165) (Banks)<br> (a)(b) | 5.416% | 09/11/2036 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 910205 |
| Synchrony Financial (Rate is fixed until 07/29/2035, then SOFR + 207) (Consumer Finance)<br> (b) | 6.000% | 07/29/2036 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2045682 |
| Toronto-Dominion Bank / The (Rate is fixed until 10/31/2030, then H15T5Y + 272) (Banks)<br> (b) | 6.350% | 10/31/2085 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1002500 |
| Truist Bank (Rate is fixed until 07/24/2027, then SOFR + 77) (Banks)<br> (b) | 4.420% | 07/24/2028 | &nbsp;&nbsp; 2750000 | &nbsp;&nbsp; 2761733 |
| Webster Financial Corp. (Rate is fixed until 09/11/2030, then H15T5Y + 213) (Banks)<br> (b) | 5.784% | 09/11/2035 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2000234 |
| Wells Fargo & Co. (Rate is fixed until 07/25/2028, then SOFR + 174) (Banks)<br> (b) | 5.574% | 07/25/2029 | &nbsp;&nbsp; 1007000 | &nbsp;&nbsp; 1043606 |
|  |  |  |  | &nbsp;&nbsp; 80951338 |
| **Health Care–0.2%** |  |  |  |  |
| HCA, Inc. (Health Care Providers & Svs.) | 5.500% | 03/01/2032 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2083663 |
| **Industrials–0.2%** |  |  |  |  |
| Cummins, Inc. (Machinery) | 5.150% | 02/20/2034 | &nbsp;&nbsp; 1180000 | &nbsp;&nbsp; 1221247 |
| Flowserve Corp. (Machinery) | 2.800% | 01/15/2032 | &nbsp;&nbsp; 1001000 | &nbsp;&nbsp; 886233 |
|  |  |  |  | &nbsp;&nbsp; 2107480 |
| **Information Technology–1.0%** |  |  |  |  |
| Broadcom, Inc. (Semiconductors & Equip.) | 5.200% | 07/15/2035 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2988743 |
| CDW LLC / CDW Finance Corp. (Electronic Equip., Instr. & Comp.) | 4.250% | 04/01/2028 | &nbsp;&nbsp; 1196000 | &nbsp;&nbsp; 1189181 |
| Kyndryl Holdings, Inc. (IT Svs.) | 2.050% | 10/15/2026 | &nbsp;&nbsp; 2046000 | &nbsp;&nbsp; 1998330 |
| Oracle Corp. (Software) | 2.950% | 04/01/2030 | &nbsp;&nbsp; 1796000 | &nbsp;&nbsp; 1692254 |
| Oracle Corp. (Software) | 3.900% | 05/15/2035 | &nbsp;&nbsp; 1039000 | &nbsp;&nbsp; 946940 |
| Skyworks Solutions, Inc. (Semiconductors & Equip.) | 3.000% | 06/01/2031 | &nbsp;&nbsp; 1331000 | &nbsp;&nbsp; 1204524 |
| Western Digital Corp. (Tech. Hardware, Storage & Periph.) | 2.850% | 02/01/2029 | &nbsp;&nbsp; 2792000 | &nbsp;&nbsp; 2624906 |
|  |  |  |  | &nbsp;&nbsp; 12644878 |
| **Materials–0.1%** |  |  |  |  |
| Corp. Nacional del Cobre de Chile (Metals & Mining)<br> (a) | 6.330% | 01/13/2035 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1066250 |
| **Real Estate–0.7%** |  |  |  |  |
| American Tower Corp. (Specialized REITs) | 3.800% | 08/15/2029 | &nbsp;&nbsp; 1455000 | &nbsp;&nbsp; 1427371 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Dynamic Risk Balanced Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Real Estate (continued)** |  |  |  |  |
| Equinix, Inc. (Specialized REITs) | 3.200% | 11/18/2029 | &nbsp;&nbsp; $1689000 | &nbsp;&nbsp; $1617501 |
| GLP Capital LP / GLP Financing II, Inc. (Specialized REITs) | 3.250% | 01/15/2032 | &nbsp;&nbsp; 1468000 | &nbsp;&nbsp; 1320718 |
| Kimco Realty OP LLC (Retail REITs) | 5.300% | 02/01/2036 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2862228 |
| VICI Properties LP / VICI Note Co., Inc. (Specialized REITs)<br> (a) | 4.500% | 09/01/2026 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1499948 |
|  |  |  |  | &nbsp;&nbsp; 8727766 |
| **Utilities–0.3%** |  |  |  |  |
| Dominion Energy, Inc. (Rate is fixed until 02/15/2031, then H15T5Y + 226) (Multi-Utilities)<br> (b) | 6.000% | 02/15/2056 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1510731 |
| Enel Finance International N.V. (Electric Utilities)<br> (a) | 5.750% | 09/30/2055 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1963315 |
|  |  |  |  | &nbsp;&nbsp; 3474046 |
| **Total Corporate Bonds (Cost $142,050,598)** |  |  |  | &nbsp;&nbsp; $145331889 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset-Backed / Mortgage-Backed Securities–2.6%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials–2.6%** |  |  |  |  |
| Ballyrock CLO 17 Ltd. 2021-17A A1A <br> (a) | TSFR3M + 141 | 10/20/2034 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp; $1001630 |
| Ballyrock CLO 2019-2A A1R3 <br> (a) | TSFR3M + 124 | 10/25/2038 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8000000 |
| Carvana Auto Receivables Trust 2024-P3 A2  | 4.610% | 11/10/2027 | &nbsp;&nbsp; 196417 | &nbsp;&nbsp; 196440 |
| Connecticut Avenue Securities 2021-R02 2M2 <br> (a) | SOFR30A + 200 | 11/25/2041 | &nbsp;&nbsp; 932624 | &nbsp;&nbsp; 943844 |
| Connecticut Avenue Securities Trust 2023-R02 1M1 <br> (a) | SOFR30A + 230 | 01/25/2043 | &nbsp;&nbsp; 986835 | &nbsp;&nbsp; 1004727 |
| Connecticut Avenue Securities Trust 2023-R03 2M1 <br> (a) | SOFR30A + 250 | 04/25/2043 | &nbsp;&nbsp; 772951 | &nbsp;&nbsp; 783725 |
| Freddie Mac STACR REMIC Trust 2021-DNA5 B1 <br> (a) | SOFR30A + 305 | 01/25/2034 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1060630 |
| Freddie Mac STACR REMIC Trust 2021-HQA3 M2 <br> (a) | SOFR30A + 210 | 09/25/2041 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1005310 |
| Freddie Mac STACR REMIC Trust 2021-HQA4 M2 <br> (a) | SOFR30A + 235 | 12/25/2041 | &nbsp;&nbsp; 1046349 | &nbsp;&nbsp; 1056813 |
| Freddie Mac STACR REMIC Trust 2022-DNA3 M1B <br> (a) | SOFR30A + 290 | 04/25/2042 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1646000 |
| Freddie Mac STACR REMIC Trust 2022-DNA4 M1B <br> (a) | SOFR30A + 335 | 05/25/2042 | &nbsp;&nbsp; 1621038 | &nbsp;&nbsp; 1682329 |
| Freddie Mac STACR REMIC Trust 2022-DNA5 M1B <br> (a) | SOFR30A + 450 | 06/25/2042 | &nbsp;&nbsp; 1331433 | &nbsp;&nbsp; 1408317 |
| Freddie Mac STACR REMIC Trust 2022-HQA2 M1A <br> (a) | SOFR30A + 265 | 07/25/2042 | &nbsp;&nbsp; 811753 | &nbsp;&nbsp; 828190 |
| Freddie Mac STACR REMIC Trust 2022-HQA3 M1A <br> (a) | SOFR30A + 230 | 08/25/2042 | &nbsp;&nbsp; 897586 | &nbsp;&nbsp; 910921 |
| Freddie Mac STACR REMIC Trust 2023-DNA2 M1A <br> (a) | SOFR30A + 210 | 04/25/2043 | &nbsp;&nbsp; 1046829 | &nbsp;&nbsp; 1061197 |
| Freddie Mac STACR REMIC Trust 2023-HQA2 M1B <br> (a) | SOFR30A + 335 | 06/25/2043 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1245175 |
| Freddie Mac STACR REMIC Trust 2024-HQA2 M1 <br> (a) | SOFR30A + 120 | 08/25/2044 | &nbsp;&nbsp; 751295 | &nbsp;&nbsp; 751761 |
| Invesco CLO 2021-1A A1 <br> (a) | TSFR3M + 126 | 04/15/2034 | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1701676 |
| Kings Park CLO Ltd. 2021-1A A <br> (a) | TSFR3M + 139 | 01/21/2035 | &nbsp;&nbsp; 1518568 | &nbsp;&nbsp; 1520846 |
| NMEF Funding 2024-A A2 <br> (a) | 5.150% | 12/15/2031 | &nbsp;&nbsp; 706354 | &nbsp;&nbsp; 711802 |
| Onemain Direct Auto Receivables Trust 2022-1A C <br> (a) | 5.310% | 06/14/2029 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1103019 |
| Pagaya AI Debt Grantor Trust 2024-9 B <br> (a) | 5.306% | 03/15/2032 | &nbsp;&nbsp; 783115 | &nbsp;&nbsp; 785912 |
| Research-Driven Pagaya Motor Asset Trust 2023-4A A <br> (a) | 7.540% | 03/25/2032 | &nbsp;&nbsp; 548241 | &nbsp;&nbsp; 550585 |
| **Total Asset-Backed / Mortgage-Backed Securities (Cost $30,200,456)** |  |  |  | &nbsp;&nbsp; $30960849 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
| **Preferred Securities–0.3%** | **Rate** | **Quantity** | **Value** |
| **Financials–0.3%** |  |  |  |
| Bank of America Corp. (Rate is fixed until 07/26/2030, then H15T5Y + 235) (Banks)<br> (b) | 6.250% | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; $4051106 |
| **Total Preferred Securities (Cost $4,000,000)** |  |  | &nbsp;&nbsp; $4051106 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Rights–0.0%** | **Quantity** | **Value** |
| **Health Care–0.0%** |  |  |
| ABIOMED Inc. CVR (Health Care Equip. & Supplies)<br> (c) | 4357 | &nbsp;&nbsp; $4444 |
| **Total Rights (Cost $4,444)** |  | &nbsp;&nbsp; $4444 |
| **Total Investments – 97.2% (Cost $1,101,991,704)**<br> (d) |  | &nbsp;&nbsp; $1171465437 |
| **Other Assets in Excess of Liabilities – 2.8%**<br> (e) |  | &nbsp;&nbsp; 33251753 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $1204717190 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; CLO: | Collateralized Loan Obligation |
| &nbsp;&nbsp;&nbsp;&nbsp; CVR: | Contingent Value Right |
| &nbsp;&nbsp;&nbsp;&nbsp; ETF: | Exchange Traded Fund |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T1Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 1 Year, 3.680% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T5Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 5 Year, 3.740% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFR: | Secured Overnight Financing Rate, 4.240% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFR30A: | 30 Day Average Secured Overnight Financing Rate ("SOFR"), 4.308% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; TSFR3M: | Quarterly CME Term Secured Overnight Financing Rate ("SOFR"), 3.976% at 9/30/2025 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Dynamic Risk Balanced Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Security exempt from registration under Regulation D of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, <br> normally to qualified buyers under Rule 144A. At September 30, 2025, the value of these securities totaled $85,494,897, or 7.1% of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security is a fixed-then-variable rate instrument in which the coupon or dividend rate is fixed until a later specified date, then is adjusted periodically. Rates <br> stated, including interest rate caps and floors, if any, are those in effect at September 30, 2025.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (e) | Includes $1,983,795 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Treasury Note - Long | 150 | December 19, 2025 | &nbsp;&nbsp; $16830723 | &nbsp;&nbsp; $16875000 | &nbsp;&nbsp; $44277 | &nbsp;&nbsp; $(2344)<br>|
| CBT 10-Year U.S. Ultra Bond - Long | 92 | December 19, 2025 | &nbsp;&nbsp; 10491038 | &nbsp;&nbsp; 10587188 | &nbsp;&nbsp; 96150 | &nbsp;&nbsp; (5750)<br>|
| CBT U.S. Long Bond - Long | 348 | December 19, 2025 | &nbsp;&nbsp; 39724266 | &nbsp;&nbsp; 40574624 | &nbsp;&nbsp; 850358 | &nbsp;&nbsp; (87000)<br>|
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$67046027** | &nbsp;&nbsp; **$68036812** | &nbsp;&nbsp; **$990785** | &nbsp;&nbsp; **$(95094)**<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Treasury Obligations–43.6%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| U.S. Treasury Bond | 4.000% | 11/15/2042 | &nbsp;&nbsp; $1600000 | &nbsp;&nbsp; $1479250 |
| U.S. Treasury Bond | 2.000% | 02/15/2050 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp; 2242529 |
| U.S. Treasury Bond | 1.875% | 02/15/2051 | &nbsp;&nbsp; 3940000 | &nbsp;&nbsp; 2250571 |
| U.S. Treasury Bond | 4.000% | 11/15/2052 | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2477891 |
| U.S. Treasury Bond | 4.125% | 08/15/2053 | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 4971270 |
| U.S. Treasury Bond | 4.250% | 08/15/2054 | &nbsp;&nbsp; 23900000 | &nbsp;&nbsp; 22062687 |
| U.S. Treasury Note | 1.500% | 01/31/2027 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3401016 |
| U.S. Treasury Note<br> (a) | 0.500% | 04/30/2027 | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3046625 |
| U.S. Treasury Note | 2.750% | 04/30/2027 | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3353117 |
| U.S. Treasury Note | 2.625% | 05/31/2027 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1475156 |
| U.S. Treasury Note | 3.750% | 06/30/2027 | &nbsp;&nbsp; 825000 | &nbsp;&nbsp; 826482 |
| U.S. Treasury Note | 3.875% | 11/30/2027 | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp; 12565918 |
| U.S. Treasury Note | 1.250% | 03/31/2028 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 542746 |
| U.S. Treasury Note | 3.875% | 06/15/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2013125 |
| U.S. Treasury Note | 4.125% | 07/31/2028 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2026563 |
| U.S. Treasury Note | 4.000% | 01/31/2029 | &nbsp;&nbsp; 11800000 | &nbsp;&nbsp; 11927680 |
| U.S. Treasury Note | 2.375% | 03/31/2029 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 479102 |
| U.S. Treasury Note | 3.625% | 08/31/2029 | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 6484258 |
| U.S. Treasury Note | 3.875% | 11/30/2029 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1610313 |
| U.S. Treasury Note | 4.125% | 11/30/2029 | &nbsp;&nbsp; 3650000 | &nbsp;&nbsp; 3708742 |
| U.S. Treasury Note | 4.375% | 12/31/2029 | &nbsp;&nbsp; 8300000 | &nbsp;&nbsp; 8514633 |
| U.S. Treasury Note | 4.000% | 02/28/2030 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7081211 |
| U.S. Treasury Note | 3.875% | 04/30/2030 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2918352 |
| U.S. Treasury Note | 3.875% | 07/31/2030 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4024062 |
| U.S. Treasury Note | 4.375% | 11/30/2030 | &nbsp;&nbsp; 9700000 | &nbsp;&nbsp; 9973949 |
| U.S. Treasury Note | 1.125% | 02/15/2031 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 353900 |
| U.S. Treasury Note | 4.625% | 04/30/2031 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6245625 |
| U.S. Treasury Note | 3.750% | 08/31/2031 | &nbsp;&nbsp; 16750000 | &nbsp;&nbsp; 16674102 |
| U.S. Treasury Note | 4.125% | 10/31/2031 | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp; 8116875 |
| U.S. Treasury Note | 4.125% | 03/31/2032 | &nbsp;&nbsp; 36000000 | &nbsp;&nbsp; 36478124 |
| U.S. Treasury Note | 4.125% | 05/31/2032 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4050625 |
| U.S. Treasury Note | 4.000% | 07/31/2032 | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5927656 |
| U.S. Treasury Note | 4.250% | 11/15/2034 | &nbsp;&nbsp; 9100000 | &nbsp;&nbsp; 9202730 |
| U.S. Treasury Note | 4.625% | 02/15/2035 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp; 20784375 |
| U.S. Treasury Note | 1.375% | 11/15/2040 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 342521 |
| U.S. Treasury Note | 1.875% | 02/15/2041 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 126541 |
| **Total U.S. Treasury Obligations (Cost $234,997,318)** |  |  |  | &nbsp;&nbsp; $229760322 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds–22.9%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services–1.5%** |  |  |  |  |
| Alphabet, Inc. (Interactive Media & Svs.) | 2.050% | 08/15/2050 | &nbsp;&nbsp; $750000 | &nbsp;&nbsp; $426907 |
| America Movil S.A.B. de C.V. (Wireless Telecom. Svs.) | 2.875% | 05/07/2030 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 257119 |
| America Movil S.A.B. de C.V. (Wireless Telecom. Svs.) | 5.000% | 01/20/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304644 |
| AT&T, Inc. (Diversified Telecom. Svs.) | 5.375% | 08/15/2035 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 823943 |
| AT&T, Inc. (Diversified Telecom. Svs.) | 4.900% | 11/01/2035 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 396877 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (b) | 4.500% | 08/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94441 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (b) | 4.250% | 02/01/2031 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 115154 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (b) | 4.500% | 06/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 66680 |
| CCO Holdings LLC / CCO Holdings Capital Corp. (Media)<br> (b) | 4.250% | 01/15/2034 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 64842 |
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC / Charter Communications Operating Capital Corp. <br> (Media)<br>| 6.484% | 10/23/2045 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246977 |
| Comcast Corp. (Media) | 3.450% | 02/01/2050 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 978704 |
| CSC Holdings LLC (Media)<br> (b) | 4.125% | 12/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 130971 |
| Lamar Media Corp. (Media) | 4.875% | 01/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24776 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (b) | 5.000% | 12/15/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24928 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (b) | 3.625% | 10/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22658 |
| Match Group Holdings II LLC (Interactive Media & Svs.)<br> (b) | 6.125% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25220 |
| Meta Platforms, Inc. (Interactive Media & Svs.) | 4.450% | 08/15/2052 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 540964 |
| Meta Platforms, Inc. (Interactive Media & Svs.) | 5.550% | 08/15/2064 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 297796 |
| Rogers Communications, Inc. (Wireless Telecom. Svs.) | 4.500% | 03/15/2042 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 274237 |
| Sinclair Television Group, Inc. (Media)<br> (b) | 5.500% | 03/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 21250 |
| Sirius XM Radio LLC (Media)<br> (b) | 3.875% | 09/01/2031 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 135942 |
| Stagwell Global LLC (Media)<br> (b) | 5.625% | 08/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24285 |
| T-Mobile U.S.A., Inc. (Wireless Telecom. Svs.) | 5.050% | 07/15/2033 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp; 291117 |
| T-Mobile U.S.A., Inc. (Wireless Telecom. Svs.) | 3.300% | 02/15/2051 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 340791 |
| Univision Communications, Inc. (Media)<br> (b) | 8.000% | 08/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25905 |
| Univision Communications, Inc. (Media)<br> (b) | 7.375% | 06/30/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25120 |
| Univision Communications, Inc. (Media)<br> (b) | 9.375% | 08/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26642 |
| Verizon Communications, Inc. (Diversified Telecom. Svs.) | 4.000% | 03/22/2050 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 472009 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Communication Services (continued)** |  |  |  |  |
| Virgin Media Secured Finance PLC (Media)<br> (b) | 5.500% | 05/15/2029 | &nbsp;&nbsp; $200000 | &nbsp;&nbsp; $197739 |
| Vodafone Group PLC (Wireless Telecom. Svs.) | 5.250% | 05/30/2048 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 424352 |
| Walt Disney Co. / The (Entertainment) | 4.700% | 03/23/2050 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 228116 |
| Walt Disney Co. / The (Entertainment) | 3.600% | 01/13/2051 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 397148 |
| Warnermedia Holdings, Inc. (Media) | 5.050% | 03/15/2042 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 39916 |
|  |  |  |  | &nbsp;&nbsp; 7768170 |
| **Consumer Discretionary–1.0%** |  |  |  |  |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 4.375% | 01/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49129 |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 6.125% | 06/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25563 |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.625% | 09/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25301 |
| 1011778 B.C. ULC / New Red Finance, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 4.000% | 10/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 94242 |
| Adient Global Holdings Ltd. (Automobile Components)<br> (b) | 7.000% | 04/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51237 |
| Adient Global Holdings Ltd. (Automobile Components)<br> (b) | 7.500% | 02/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25887 |
| Advance Auto Parts, Inc. (Specialty Retail) | 3.900% | 04/15/2030 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 348140 |
| Amazon.com, Inc. (Broadline Retail) | 3.875% | 08/22/2037 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 437945 |
| Amazon.com, Inc. (Broadline Retail) | 2.500% | 06/03/2050 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 555989 |
| Asbury Automotive Group, Inc. (Specialty Retail) | 4.750% | 03/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24348 |
| Asbury Automotive Group, Inc. (Specialty Retail)<br> (b) | 5.000% | 02/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48012 |
| Beach Acquisition Bidco LLC (Textiles, Apparel & Luxury Goods)<br> (b)(c) | 10.000%, 10.750% PIK | 07/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 215732 |
| Belron U.K. Finance PLC (Specialty Retail)<br> (b) | 5.750% | 10/15/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 253258 |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure) | 4.750% | 12/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24857 |
| Boyd Gaming Corp. (Hotels, Restaurants & Leisure)<br> (b) | 4.750% | 06/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24100 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 7.000% | 02/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25715 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 6.500% | 02/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25500 |
| Caesars Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 6.000% | 10/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49248 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (b) | 5.125% | 05/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25000 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (b) | 6.000% | 05/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25373 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (b) | 7.000% | 08/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26299 |
| Carnival Corp. (Hotels, Restaurants & Leisure)<br> (b) | 5.750% | 03/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25525 |
| Champ Acquisition Corp. (Textiles, Apparel & Luxury Goods)<br> (b) | 8.375% | 12/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53157 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.500% | 04/01/2027 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49930 |
| Churchill Downs, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.750% | 04/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24977 |
| Clarios Global LP / Clarios U.S. Finance Co. (Automobile Components)<br> (b) | 6.750% | 02/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51650 |
| Clarios Global LP / Clarios U.S. Finance Co. (Automobile Components)<br> (b) | 6.750% | 09/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51108 |
| Dornoch Debt Merger Sub, Inc. (Automobile Components)<br> (b) | 6.625% | 10/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 43002 |
| Gap, Inc. / The (Specialty Retail)<br> (b) | 3.875% | 10/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22715 |
| Group 1 Automotive, Inc. (Specialty Retail)<br> (b) | 6.375% | 01/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25576 |
| Hanesbrands, Inc. (Textiles, Apparel & Luxury Goods)<br> (b) | 9.000% | 02/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26460 |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure)<br> (b) | 3.625% | 02/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 45755 |
| Hilton Domestic Operating Co., Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.750% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25334 |
| Home Depot, Inc. / The (Specialty Retail) | 3.300% | 04/15/2040 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp; 852193 |
| J.B. Poindexter & Co., Inc. (Automobile Components)<br> (b) | 8.750% | 12/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52368 |
| Kontoor Brands, Inc. (Textiles, Apparel & Luxury Goods)<br> (b) | 4.125% | 11/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23680 |
| LCM Investments Holdings II LLC (Specialty Retail)<br> (b) | 4.875% | 05/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24494 |
| LCM Investments Holdings II LLC (Specialty Retail)<br> (b) | 8.250% | 08/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52880 |
| Light & Wonder International, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 7.250% | 11/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51319 |
| Light & Wonder International, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 6.250% | 10/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25042 |
| Lithia Motors, Inc. (Specialty Retail)<br> (b) | 5.500% | 10/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24969 |
| MGM Resorts International (Hotels, Restaurants & Leisure) | 6.500% | 04/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101879 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp. (Hotels, Restaurants & <br> Leisure)<br>(b) | 4.875% | 05/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24303 |
| NCL Corp. Ltd. (Hotels, Restaurants & Leisure)<br> (b) | 6.250% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25129 |
| NCL Finance Ltd. (Hotels, Restaurants & Leisure)<br> (b) | 6.125% | 03/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25546 |
| Patrick Industries, Inc. (Automobile Components)<br> (b) | 6.375% | 11/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50730 |
| Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp. (Hotels, Restaurants & Leisure)<br> (b) | 6.250% | 10/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25223 |
| Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure)<br> (b) | 5.625% | 09/30/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25492 |
| Royal Caribbean Cruises Ltd. (Hotels, Restaurants & Leisure)<br> (b) | 6.250% | 03/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51621 |
| Sally Holdings LLC / Sally Capital, Inc. (Specialty Retail) | 6.750% | 03/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51980 |
| SeaWorld Parks & Entertainment, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.250% | 08/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49169 |
| Six Flags Entertainment Corp. (Hotels, Restaurants & Leisure)<br> (b) | 7.250% | 05/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25010 |
| Sodexo, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 5.800% | 08/15/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209638 |
| Station Casinos LLC (Hotels, Restaurants & Leisure)<br> (b) | 4.500% | 02/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24579 |
| Station Casinos LLC (Hotels, Restaurants & Leisure)<br> (b) | 4.625% | 12/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47166 |
| TopBuild Corp. (Household Durables)<br> (b) | 5.625% | 01/31/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24909 |
| Whirlpool Corp. (Household Durables) | 6.500% | 06/15/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74846 |
| William Carter Co. / The (Textiles, Apparel & Luxury Goods)<br> (b) | 5.625% | 03/15/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25015 |
| Wyndham Hotels & Resorts, Inc. (Hotels, Restaurants & Leisure)<br> (b) | 4.375% | 08/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48810 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Consumer Discretionary (continued)** |  |  |  |  |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. (Hotels, Restaurants & Leisure)<br> (b) | 7.125% | 02/15/2031 | &nbsp;&nbsp; $75000 | &nbsp;&nbsp; $80726 |
| Yum! Brands, Inc. (Hotels, Restaurants & Leisure) | 4.625% | 01/31/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 72871 |
|  |  |  |  | &nbsp;&nbsp; 4997651 |
| **Consumer Staples–1.6%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (Consumer Staples <br> Distribution & Retail)<br>(b) | 5.875% | 02/15/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74983 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC (Consumer Staples <br> Distribution & Retail)<br>(b) | 6.250% | 03/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25567 |
| Altria Group, Inc. (Tobacco) | 3.875% | 09/16/2046 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 479076 |
| B.A.T. Capital Corp. (Tobacco) | 4.540% | 08/15/2047 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 545051 |
| Bacardi-Martini B.V. (Beverages)<br> (b) | 6.000% | 02/01/2035 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 363958 |
| BellRing Brands, Inc. (Personal Care Products)<br> (b) | 7.000% | 03/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103273 |
| Coca-Cola Europacific Partners PLC (Beverages)<br> (b) | 1.500% | 01/15/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 580230 |
| Coca-Cola Femsa S.A.B. de C.V. (Beverages) | 2.750% | 01/22/2030 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 704384 |
| Constellation Brands, Inc. (Beverages) | 3.750% | 05/01/2050 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 404794 |
| Edgewell Personal Care Co. (Personal Care Products)<br> (b) | 5.500% | 06/01/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24947 |
| Edgewell Personal Care Co. (Personal Care Products)<br> (b) | 4.125% | 04/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23779 |
| Energizer Holdings, Inc. (Household Products)<br> (b) | 4.375% | 03/31/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47953 |
| Energizer Holdings, Inc. (Household Products)<br> (b) | 6.000% | 09/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24451 |
| Flowers Foods, Inc. (Food Products) | 3.500% | 10/01/2026 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 669023 |
| Flowers Foods, Inc. (Food Products) | 2.400% | 03/15/2031 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 164194 |
| Froneri Lux FinCo SARL (Food Products)<br> (b) | 6.000% | 08/01/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200240 |
| Grupo Bimbo S.A.B. de C.V. (Food Products)<br> (b) | 4.875% | 06/27/2044 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp; 832841 |
| Kenvue, Inc. (Personal Care Products) | 5.050% | 03/22/2028 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 367798 |
| Kenvue, Inc. (Personal Care Products) | 4.900% | 03/22/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304967 |
| Kraft Heinz Foods Co. (Food Products) | 4.375% | 06/01/2046 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 187242 |
| Kroger Co. / The (Consumer Staples Distribution & Retail) | 3.950% | 01/15/2050 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 291691 |
| Mars, Inc. (Food Products)<br> (b) | 5.200% | 03/01/2035 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 378190 |
| Mars, Inc. (Food Products)<br> (b) | 5.700% | 05/01/2055 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202589 |
| Performance Food Group, Inc. (Consumer Staples Distribution & Retail)<br> (b) | 6.125% | 09/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51216 |
| Philip Morris International, Inc. (Tobacco) | 3.875% | 08/21/2042 | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 593584 |
| Post Holdings, Inc. (Food Products)<br> (b) | 6.250% | 02/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25702 |
| The Campbell's Company (Food Products) | 4.750% | 03/23/2035 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 261840 |
| Tyson Foods, Inc. (Food Products) | 5.700% | 03/15/2034 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 526868 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (b) | 4.750% | 02/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49252 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (b) | 4.625% | 06/01/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48864 |
| U.S. Foods, Inc. (Consumer Staples Distribution & Retail)<br> (b) | 5.750% | 04/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25131 |
|  |  |  |  | &nbsp;&nbsp; 8583678 |
| **Energy–1.6%** |  |  |  |  |
| Aethon United BR LP / Aethon United Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 7.500% | 10/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26072 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(b) | 5.750% | 01/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49902 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(b) | 5.375% | 06/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74725 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(b) | 6.625% | 02/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25748 |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP / Antero Midstream Finance Corp. (Oil, Gas & Consumable <br> Fuels)<br>(b) | 5.750% | 10/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24889 |
| Archrock Partners LP / Archrock Partners Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 6.875% | 04/01/2027 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50002 |
| Archrock Partners LP / Archrock Partners Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 6.250% | 04/01/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25035 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 5.875% | 06/30/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49897 |
| Ascent Resources Utica Holdings LLC / ARU Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 6.625% | 07/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25417 |
| Blue Racer Midstream LLC / Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 7.000% | 07/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25923 |
| Blue Racer Midstream LLC / Blue Racer Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 7.250% | 07/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52583 |
| BP Capital Markets America, Inc. (Oil, Gas & Consumable Fuels) | 3.588% | 04/14/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 397844 |
| Canadian Natural Resources Ltd. (Oil, Gas & Consumable Fuels)<br> (b) | 5.000% | 12/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 178882 |
| Cenovus Energy, Inc. (Oil, Gas & Consumable Fuels) | 4.250% | 04/15/2027 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 399974 |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | 3.078% | 05/11/2050 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 329546 |
| Chord Energy Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 6.000% | 10/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24826 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (b) | 8.375% | 07/01/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25914 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (b) | 8.625% | 11/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25892 |
| Civitas Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (b) | 9.625% | 06/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26405 |
| CNX Midstream Partners LP (Oil, Gas & Consumable Fuels)<br> (b) | 4.750% | 04/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95894 |
| CNX Resources Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 7.250% | 03/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51871 |
| Columbia Pipelines Holding Co. LLC (Oil, Gas & Consumable Fuels)<br> (b) | 5.681% | 01/15/2034 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 437830 |
| Comstock Resources, Inc. (Oil, Gas & Consumable Fuels)<br> (b) | 6.750% | 03/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99837 |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | 6.250% | 03/15/2053 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 102412 |
| Diamondback Energy, Inc. (Oil, Gas & Consumable Fuels) | 5.750% | 04/18/2054 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp; 279151 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Energy (continued)** |  |  |  |  |
| DT Midstream, Inc. (Oil, Gas & Consumable Fuels)<br> (b) | 4.375% | 06/15/2031 | &nbsp;&nbsp; $25000 | &nbsp;&nbsp; $24161 |
| Eastern Gas Transmission & Storage, Inc. (Oil, Gas & Consumable Fuels) | 3.900% | 11/15/2049 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 110530 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 3.750% | 05/15/2030 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 485535 |
| Energy Transfer LP (Oil, Gas & Consumable Fuels) | 5.750% | 02/15/2033 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 262058 |
| Eni SpA (Oil, Gas & Consumable Fuels)<br> (b) | 5.500% | 05/15/2034 | &nbsp;&nbsp; 355000 | &nbsp;&nbsp; 365196 |
| Eni SpA (Oil, Gas & Consumable Fuels)<br> (b) | 5.950% | 05/15/2054 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 224926 |
| EQT Corp. (Oil, Gas & Consumable Fuels) | 4.750% | 01/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24949 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (b) | 5.125% | 06/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49944 |
| Hess Midstream Operations LP (Oil, Gas & Consumable Fuels)<br> (b) | 6.500% | 06/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51567 |
| Kinder Morgan, Inc. (Oil, Gas & Consumable Fuels) | 3.250% | 08/01/2050 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 145880 |
| Kodiak Gas Services LLC (Energy Equip. & Svs.)<br> (b) | 7.250% | 02/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25942 |
| Kodiak Gas Services LLC (Energy Equip. & Svs.)<br> (b) | 6.500% | 10/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50909 |
| Matador Resources Co. (Oil, Gas & Consumable Fuels)<br> (b) | 6.500% | 04/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50478 |
| Matador Resources Co. (Oil, Gas & Consumable Fuels)<br> (b) | 6.250% | 04/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25117 |
| MPLX LP (Oil, Gas & Consumable Fuels) | 4.950% | 03/14/2052 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 319905 |
| Nabors Industries, Inc. (Energy Equip. & Svs.)<br> (b) | 9.125% | 01/31/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26000 |
| Northriver Midstream Finance LP (Oil, Gas & Consumable Fuels)<br> (b) | 6.750% | 07/15/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76695 |
| ONEOK, Inc. (Oil, Gas & Consumable Fuels) | 6.625% | 09/01/2053 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 292542 |
| Ovintiv, Inc. (Oil, Gas & Consumable Fuels) | 7.100% | 07/15/2053 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 296963 |
| Permian Resources Operating LLC (Oil, Gas & Consumable Fuels)<br> (b) | 6.250% | 02/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25466 |
| Plains All American Pipeline LP / PAA Finance Corp. (Oil, Gas & Consumable Fuels) | 5.150% | 06/01/2042 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 433564 |
| Precision Drilling Corp. (Energy Equip. & Svs.)<br> (b) | 6.875% | 01/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25134 |
| Range Resources Corp. (Oil, Gas & Consumable Fuels) | 8.250% | 01/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51175 |
| Rockies Express Pipeline LLC (Oil, Gas & Consumable Fuels)<br> (b) | 6.750% | 03/15/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78286 |
| SM Energy Co. (Oil, Gas & Consumable Fuels) | 6.500% | 07/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25163 |
| Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp. (Oil, Gas & Consumable Fuels)<br> (b) | 6.750% | 03/15/2034 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74247 |
| Targa Resources Corp. (Oil, Gas & Consumable Fuels) | 4.200% | 02/01/2033 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp; 527308 |
| TGNR Intermediate Holdings LLC (Oil, Gas & Consumable Fuels)<br> (b) | 5.500% | 10/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48927 |
| U.S.A. Compression Partners LP / U.S.A. Compression Finance Corp. (Energy Equip. & Svs.)<br> (b) | 7.125% | 03/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77349 |
| U.S.A. Compression Partners LP / U.S.A. Compression Finance Corp. (Energy Equip. & Svs.)<br> (b) | 6.250% | 10/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25096 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (b) | 7.500% | 05/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 55251 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (b) | 6.500% | 01/15/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26316 |
| Venture Global Plaquemines LNG LLC (Oil, Gas & Consumable Fuels)<br> (b) | 7.750% | 05/01/2035 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 28218 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 3.750% | 06/15/2027 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 670417 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 5.150% | 03/15/2034 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 228425 |
| Williams Cos., Inc. / The (Oil, Gas & Consumable Fuels) | 5.600% | 03/15/2035 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 285382 |
|  |  |  |  | &nbsp;&nbsp; 8501492 |
| **Financials–6.5%** |  |  |  |  |
| Acrisure LLC / Acrisure Finance, Inc. (Insurance)<br> (b) | 6.000% | 08/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24644 |
| Acrisure LLC / Acrisure Finance, Inc. (Insurance)<br> (b) | 7.500% | 11/06/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26044 |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust (Financial Services) | 5.000% | 11/15/2035 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 247252 |
| AIA Group Ltd. (Insurance)<br> (b) | 4.950% | 04/04/2033 | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 266580 |
| Aircastle Ltd. / Aircastle DAC (Financial Services)<br> (b) | 5.000% | 09/15/2030 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 171273 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (Insurance)<br> (b) | 7.000% | 01/15/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77492 |
| Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (Insurance)<br> (b) | 7.375% | 10/01/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77282 |
| American Express Co. (Consumer Finance) | 3.300% | 05/03/2027 | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 767000 |
| AmWINS Group, Inc. (Insurance)<br> (b) | 6.375% | 02/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51017 |
| AmWINS Group, Inc. (Insurance)<br> (b) | 4.875% | 06/30/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48595 |
| Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, Inc. (Insurance)<br> (b) | 7.500% | 07/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51182 |
| Aon North America, Inc. (Insurance) | 5.750% | 03/01/2054 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 402832 |
| Ardonagh Group Finance Ltd. (Insurance)<br> (b) | 8.875% | 02/15/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 210259 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance, Inc. <br> (Insurance)<br>(b) | 7.125% | 05/15/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77854 |
| Bank of America Corp. (Rate is fixed until 04/29/2030, then SOFR + 215) (Banks)<br> (d) | 2.592% | 04/29/2031 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1112024 |
| Bank of America Corp. (Rate is fixed until 04/22/2031, then SOFR + 132) (Banks)<br> (d) | 2.687% | 04/22/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 227745 |
| Bank of America Corp. (Rate is fixed until 04/25/2033, then SOFR + 191) (Banks)<br> (d) | 5.288% | 04/25/2034 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 310386 |
| Bank of America Corp. (Rate is fixed until 01/24/2035, then SOFR + 131) (Banks)<br> (d) | 5.511% | 01/24/2036 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1149844 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon / The (Rate is fixed until 04/20/2028, then SOFR + 114) <br> (Capital Markets)<br>(d) | 4.729% | 04/20/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 355749 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. / The (Rate is fixed until 06/13/2027, then SOFR + 115) <br> (Capital Markets)<br>(d) | 3.992% | 06/13/2028 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 299886 |
| Blackrock, Inc. (Capital Markets) | 1.900% | 01/28/2031 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 378802 |
| Broadstreet Partners Group, Inc. (Insurance)<br> (b) | 5.875% | 04/15/2029 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp; 174490 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. (Rate is fixed until 09/11/2035, then SOFR + 163) <br> (Consumer Finance)<br>(d) | 5.197% | 09/11/2036 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 395601 |
| Chubb INA Holdings LLC (Insurance) | 4.900% | 08/15/2035 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 256516 |
| Citigroup, Inc. (Rate is fixed until 01/29/2030, then SOFR + 115) (Banks)<br> (d) | 2.666% | 01/29/2031 | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1208450 |
| Citigroup, Inc. (Rate is fixed until 02/13/2034, then SOFR + 206) (Banks)<br> (d) | 5.827% | 02/13/2035 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 233359 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials (continued)** |  |  |  |  |
| Citigroup, Inc. (Rate is fixed until 01/24/2035, then SOFR + 183) (Banks)<br> (d) | 6.020% | 01/24/2036 | &nbsp;&nbsp; $300000 | &nbsp;&nbsp; $314275 |
| Citigroup, Inc. (Rate is fixed until 09/11/2035, then SOFR + 149) (Banks)<br> (d) | 5.174% | 09/11/2036 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp; 60609 |
| Citizens Bank N.A. (Banks) | 3.750% | 02/18/2026 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 473862 |
| CNA Financial Corp. (Insurance) | 5.500% | 06/15/2033 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 622693 |
| Comerica, Inc. (Rate is fixed until 01/30/2029, then SOFR + 216) (Banks)<br> (d) | 5.982% | 01/30/2030 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp; 333007 |
| Corebridge Financial, Inc. (Financial Services) | 5.750% | 01/15/2034 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 178818 |
| Corebridge Global Funding (Financial Services)<br> (b) | 5.900% | 09/19/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 418443 |
| CrossCountry Intermediate HoldCo LLC (Financial Services)<br> (b) | 6.500% | 10/01/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50184 |
| Daimler Truck Finance North America LLC (Consumer Finance)<br> (b) | 2.000% | 12/14/2026 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp; 526345 |
| Daimler Truck Finance North America LLC (Consumer Finance)<br> (b) | 2.375% | 12/14/2028 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 169612 |
| Fidelity National Information Services, Inc. (Financial Services) | 3.100% | 03/01/2041 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp; 230267 |
| Fifth Third Bancorp (Rate is fixed until 04/25/2032, then SOFR + 166) (Banks)<br> (d) | 4.337% | 04/25/2033 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 263145 |
| Fiserv, Inc. (Financial Services) | 3.500% | 07/01/2029 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 413074 |
| FNB Corp. (Rate is fixed until 12/11/2029, then SOFRINDX + 193) (Banks)<br> (d) | 5.722% | 12/11/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 355406 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 6.950% | 03/06/2026 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503981 |
| Ford Motor Credit Co. LLC (Consumer Finance) | 7.122% | 11/07/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213775 |
| General Motors Financial Co., Inc. (Consumer Finance) | 5.000% | 04/09/2027 | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 363299 |
| General Motors Financial Co., Inc. (Consumer Finance) | 5.750% | 02/08/2031 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 442784 |
| Goldman Sachs Group, Inc. / The (Capital Markets) | 3.800% | 03/15/2030 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1131812 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 01/27/2031, then SOFR + 109) <br> (Capital Markets)<br>(d) | 1.992% | 01/27/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 220608 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. / The (Rate is fixed until 04/25/2034, then SOFR + 155) <br> (Capital Markets)<br>(d) | 5.851% | 04/25/2035 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 266365 |
| HUB International Ltd. (Insurance)<br> (b) | 5.625% | 12/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199799 |
| HUB International Ltd. (Insurance)<br> (b) | 7.250% | 06/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26073 |
| Huntington Bancshares, Inc. (Rate is fixed until 08/04/2027, then SOFR + 197) (Banks)<br> (d) | 4.443% | 08/04/2028 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 451965 |
| Huntington Bancshares, Inc. (Rate is fixed until 02/02/2034, then SOFRINDX + 187) (Banks)<br> (d) | 5.709% | 02/02/2035 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 286626 |
| Hyundai Capital America (Consumer Finance)<br> (b) | 5.300% | 01/08/2029 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 691132 |
| Jefferies Financial Group, Inc. (Capital Markets) | 2.750% | 10/15/2032 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 330539 |
| John Deere Capital Corp. (Consumer Finance) | 5.050% | 03/03/2026 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 451906 |
| John Deere Capital Corp. (Consumer Finance) | 3.450% | 03/07/2029 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 265328 |
| John Deere Capital Corp. (Consumer Finance) | 2.800% | 07/18/2029 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 602256 |
| Jones Deslauriers Insurance Management, Inc. (Insurance)<br> (b) | 8.500% | 03/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 52531 |
| Jones Deslauriers Insurance Management, Inc. (Insurance)<br> (b) | 6.875% | 10/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74607 |
| JPMorgan Chase & Co. (Rate is fixed until 04/22/2030, then SOFR + 204) (Banks)<br> (d) | 2.522% | 04/22/2031 | &nbsp;&nbsp; 1025000 | &nbsp;&nbsp; 950718 |
| JPMorgan Chase & Co. (Rate is fixed until 11/19/2030, then TSFR3M + 111) (Banks)<br> (d) | 1.764% | 11/19/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 88288 |
| JPMorgan Chase & Co. (Rate is fixed until 04/22/2031, then TSFR3M + 125) (Banks)<br> (d) | 2.580% | 04/22/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 90881 |
| JPMorgan Chase & Co. (Rate is fixed until 01/25/2032, then SOFR + 126) (Banks)<br> (d) | 2.963% | 01/25/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 182969 |
| JPMorgan Chase & Co. (Rate is fixed until 09/14/2032, then SOFR + 258) (Banks)<br> (d) | 5.717% | 09/14/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 317258 |
| JPMorgan Chase & Co. (Rate is fixed until 06/01/2033, then SOFR + 185) (Banks)<br> (d) | 5.350% | 06/01/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 416783 |
| JPMorgan Chase & Co. (Rate is fixed until 10/23/2033, then SOFR + 181) (Banks)<br> (d) | 6.254% | 10/23/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 110192 |
| JPMorgan Chase & Co. (Rate is fixed until 07/23/2035, then SOFR + 164) (Banks)<br> (d) | 5.576% | 07/23/2036 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 362839 |
| KeyCorp (Rate is fixed until 03/06/2034, then SOFRINDX + 242) (Banks)<br> (d) | 6.401% | 03/06/2035 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 379820 |
| Lincoln Financial Global Funding (Insurance)<br> (b) | 5.300% | 01/13/2030 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp; 175904 |
| M&T Bank Corp. (Rate is fixed until 10/30/2028, then SOFR + 280) (Banks)<br> (d) | 7.413% | 10/30/2029 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 244421 |
| M&T Bank Corp. (Rate is fixed until 01/27/2033, then SOFR + 185) (Banks)<br> (d) | 5.053% | 01/27/2034 | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 496266 |
| Marsh & McLennan Cos., Inc. (Insurance) | 4.650% | 03/15/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 330278 |
| Mercedes-Benz Finance North America LLC (Consumer Finance)<br> (b) | 4.800% | 03/30/2026 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 751917 |
| MetLife, Inc. (Insurance) | 6.375% | 06/15/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 446227 |
| Metropolitan Life Global Funding I (Insurance)<br> (b) | 5.150% | 03/28/2033 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 238260 |
| Morgan Stanley (Capital Markets) | 6.250% | 08/09/2026 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 280168 |
| Morgan Stanley (Rate is fixed until 01/24/2028, then TSFR3M + 140) (Capital Markets)<br> (d) | 3.772% | 01/24/2029 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 421316 |
| Morgan Stanley (Rate is fixed until 02/13/2031, then SOFR + 103) (Capital Markets)<br> (d) | 1.794% | 02/13/2032 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp; 257293 |
| Morgan Stanley (Rate is fixed until 04/28/2031, then SOFR + 102) (Capital Markets)<br> (d) | 1.928% | 04/28/2032 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 218182 |
| Morgan Stanley (Rate is fixed until 04/21/2033, then SOFR + 187) (Capital Markets)<br> (d) | 5.250% | 04/21/2034 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp; 201089 |
| Morgan Stanley (Rate is fixed until 07/21/2033, then SOFR + 188) (Capital Markets)<br> (d) | 5.424% | 07/21/2034 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104190 |
| Morgan Stanley (Rate is fixed until 01/18/2034, then SOFR + 173) (Capital Markets)<br> (d) | 5.466% | 01/18/2035 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 145816 |
| Morgan Stanley (Rate is fixed until 01/18/2035, then SOFR + 142) (Capital Markets)<br> (d) | 5.587% | 01/18/2036 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 209401 |
| Northern Trust Corp. (Capital Markets) | 6.125% | 11/02/2032 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 415436 |
| Pacific Life Global Funding II (Insurance)<br> (b) | 4.900% | 01/11/2029 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 714955 |
| Panther Escrow Issuer LLC (Insurance)<br> (b) | 7.125% | 06/01/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104012 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. / The (Rate is fixed until 06/06/2032, then SOFRINDX + 185) <br> (Banks)<br>(d) | 4.626% | 06/06/2033 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 625214 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. / The (Rate is fixed until 01/29/2035, then SOFR + 139) <br> (Banks)<br>(d) | 5.575% | 01/29/2036 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 146076 |
| Prudential Financial, Inc. (Insurance) | 3.700% | 03/13/2051 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 491504 |
| Raymond James Financial, Inc. (Capital Markets) | 4.650% | 04/01/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101447 |
| Regions Financial Corp. (Rate is fixed until 06/06/2029, then SOFR + 149) (Banks)<br> (d) | 5.722% | 06/06/2030 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 343935 |
| Rocket Cos., Inc. (Financial Services)<br> (b) | 6.375% | 08/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25803 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials (continued)** |  |  |  |  |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (Financial Services)<br> (b) | 3.625% | 03/01/2029 | &nbsp;&nbsp; $50000 | &nbsp;&nbsp; $47686 |
| Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (Financial Services)<br> (b) | 4.000% | 10/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 45664 |
| Ryan Specialty LLC (Insurance)<br> (b) | 4.375% | 02/01/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48444 |
| Ryan Specialty LLC (Insurance)<br> (b) | 5.875% | 08/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25280 |
| S&P Global, Inc. (Capital Markets) | 2.900% | 03/01/2032 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp; 357190 |
| Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc. (Financial Services)<br> (b) | 6.750% | 08/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25847 |
| Travelers Cos., Inc. / The (Insurance) | 5.450% | 05/25/2053 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 180073 |
| Truist Financial Corp. (Rate is fixed until 10/28/2025, then SOFR + 163) (Banks)<br> (d) | 5.900% | 10/28/2026 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550455 |
| Truist Financial Corp. (Rate is fixed until 06/08/2033, then SOFR + 236) (Banks)<br> (d) | 5.867% | 06/08/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 158929 |
| U.S. Bancorp (Rate is fixed until 07/22/2032, then SOFR + 211) (Banks)<br> (d) | 4.967% | 07/22/2033 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501956 |
| U.S. Bancorp (Rate is fixed until 06/10/2033, then SOFR + 226) (Banks)<br> (d) | 5.836% | 06/12/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 213118 |
| United Wholesale Mortgage LLC (Financial Services)<br> (b) | 5.500% | 11/15/2025 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49982 |
| United Wholesale Mortgage LLC (Financial Services)<br> (b) | 5.500% | 04/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49313 |
| USI, Inc. (Insurance)<br> (b) | 7.500% | 01/15/2032 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 157302 |
| UWM Holdings LLC (Financial Services)<br> (b) | 6.625% | 02/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25432 |
| UWM Holdings LLC (Financial Services)<br> (b) | 6.250% | 03/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24881 |
| Wells Fargo & Co. (Rate is fixed until 07/25/2028, then SOFR + 174) (Banks)<br> (d) | 5.574% | 07/25/2029 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 259088 |
| Wells Fargo & Co. (Rate is fixed until 02/11/2030, then TSFR3M + 126) (Banks)<br> (d) | 2.572% | 02/11/2031 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 487898 |
| Wells Fargo & Co. (Rate is fixed until 07/25/2032, then SOFR + 210) (Banks)<br> (d) | 4.897% | 07/25/2033 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 558761 |
| Wells Fargo & Co. (Rate is fixed until 04/24/2033, then SOFR + 202) (Banks)<br> (d) | 5.389% | 04/24/2034 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 155859 |
| Wells Fargo & Co. (Rate is fixed until 10/23/2033, then SOFR + 206) (Banks)<br> (d) | 6.491% | 10/23/2034 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 222219 |
| Wells Fargo & Co. (Rate is fixed until 01/23/2034, then SOFR + 178) (Banks)<br> (d) | 5.499% | 01/23/2035 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 208618 |
|  |  |  |  | &nbsp;&nbsp; 34330137 |
| **Health Care–2.1%** |  |  |  |  |
| Abbott Laboratories (Health Care Equip. & Supplies) | 3.750% | 11/30/2026 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 509752 |
| AbbVie, Inc. (Biotechnology) | 4.875% | 03/15/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 411744 |
| AbbVie, Inc. (Biotechnology) | 4.250% | 11/21/2049 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 631861 |
| AHP Health Partners, Inc. (Health Care Providers & Svs.)<br> (b) | 5.750% | 07/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 73811 |
| Alcon Finance Corp. (Health Care Equip. & Supplies)<br> (b) | 2.600% | 05/27/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 370035 |
| Amgen, Inc. (Biotechnology) | 5.250% | 03/02/2033 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 274498 |
| Amgen, Inc. (Biotechnology) | 3.375% | 02/21/2050 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 361988 |
| Amgen, Inc. (Biotechnology) | 5.650% | 03/02/2053 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp; 164578 |
| Amneal Pharmaceuticals LLC (Pharmaceuticals)<br> (b) | 6.875% | 08/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25855 |
| AstraZeneca PLC (Pharmaceuticals) | 3.125% | 06/12/2027 | &nbsp;&nbsp; 810000 | &nbsp;&nbsp; 800998 |
| Avantor Funding, Inc. (Health Care Equip. & Supplies)<br> (b) | 4.625% | 07/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49183 |
| Bausch Health Cos., Inc. (Pharmaceuticals)<br> (b) | 4.875% | 06/01/2028 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 89500 |
| Becton Dickinson & Co. (Health Care Equip. & Supplies) | 3.794% | 05/20/2050 | &nbsp;&nbsp; 168000 | &nbsp;&nbsp; 128639 |
| Biogen, Inc. (Biotechnology) | 3.150% | 05/01/2050 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 195085 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | 3.400% | 07/26/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 390023 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | 3.700% | 03/15/2052 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 201500 |
| Bristol-Myers Squibb Co. (Pharmaceuticals) | 5.550% | 02/22/2054 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 184382 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (b) | 6.000% | 01/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24266 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (b) | 6.125% | 04/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 18133 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (b) | 5.250% | 05/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 22616 |
| CHS / Community Health Systems, Inc. (Health Care Providers & Svs.)<br> (b) | 9.750% | 01/15/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25612 |
| Concentra Health Services, Inc. (Health Care Providers & Svs.)<br> (b) | 6.875% | 07/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51919 |
| CVS Health Corp. (Health Care Providers & Svs.) | 4.250% | 04/01/2050 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 430249 |
| Danaher Corp. (Life Sciences Tools & Svs.) | 2.600% | 10/01/2050 | &nbsp;&nbsp; 820000 | &nbsp;&nbsp; 510724 |
| Elevance Health, Inc. (Health Care Providers & Svs.) | 4.750% | 02/15/2033 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp; 381171 |
| Elevance Health, Inc. (Health Care Providers & Svs.) | 5.000% | 01/15/2036 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 248181 |
| GE HealthCare Technologies, Inc. (Health Care Equip. & Supplies) | 6.377% | 11/22/2052 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp; 281763 |
| Gilead Sciences, Inc. (Biotechnology) | 5.250% | 10/15/2033 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 199255 |
| HCA, Inc. (Health Care Providers & Svs.) | 5.200% | 06/01/2028 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 117777 |
| HCA, Inc. (Health Care Providers & Svs.) | 3.500% | 07/15/2051 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 410470 |
| HCA, Inc. (Health Care Providers & Svs.) | 6.000% | 04/01/2054 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 110215 |
| HealthEquity, Inc. (Health Care Providers & Svs.)<br> (b) | 4.500% | 10/01/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 72722 |
| Insulet Corp. (Health Care Equip. & Supplies)<br> (b) | 6.500% | 04/01/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51982 |
| IQVIA, Inc. (Life Sciences Tools & Svs.)<br> (b) | 6.250% | 06/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51407 |
| Medline Borrower LP (Health Care Equip. & Supplies)<br> (b) | 3.875% | 04/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24111 |
| Medline Borrower LP (Health Care Equip. & Supplies)<br> (b) | 5.250% | 10/01/2029 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 148703 |
| Opal Bidco SAS (Pharmaceuticals)<br> (b) | 6.500% | 03/31/2032 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204949 |
| Pfizer Investment Enterprises Pte Ltd. (Pharmaceuticals) | 4.450% | 05/19/2028 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 404560 |
| Pfizer Investment Enterprises Pte Ltd. (Pharmaceuticals) | 4.750% | 05/19/2033 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 353588 |
| Pfizer Investment Enterprises Pte Ltd. (Pharmaceuticals) | 5.300% | 05/19/2053 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp; 265756 |
| Raven Acquisition Holdings LLC (Health Care Providers & Svs.)<br> (b) | 6.875% | 11/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51383 |
| Regeneron Pharmaceuticals, Inc. (Biotechnology) | 2.800% | 09/15/2050 | &nbsp;&nbsp; 527000 | &nbsp;&nbsp; 327719 |
| Select Medical Corp. (Health Care Providers & Svs.)<br> (b) | 6.250% | 12/01/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 75031 |
| Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 2.050% | 03/31/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 317860 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Health Care (continued)** |  |  |  |  |
| Takeda Pharmaceutical Co. Ltd. (Pharmaceuticals) | 3.025% | 07/09/2040 | &nbsp;&nbsp; $400000 | &nbsp;&nbsp; $305198 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 4.625% | 06/15/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49543 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 6.125% | 10/01/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25014 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 4.250% | 06/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24416 |
| Tenet Healthcare Corp. (Health Care Providers & Svs.) | 6.750% | 05/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25882 |
| UnitedHealth Group, Inc. (Health Care Providers & Svs.) | 5.050% | 04/15/2053 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 366515 |
| Zoetis, Inc. (Pharmaceuticals) | 3.000% | 05/15/2050 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 400920 |
|  |  |  |  | &nbsp;&nbsp; 11243042 |
| **Industrials–2.6%** |  |  |  |  |
| Air Lease Corp. (Trading Companies & Distributors) | 5.850% | 12/15/2027 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp; 278102 |
| Airbus SE (Aerospace & Defense)<br> (b) | 3.150% | 04/10/2027 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 790981 |
| Allied Universal Holdco LLC (Commercial Svs. & Supplies)<br> (b) | 7.875% | 02/15/2031 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 104850 |
| Amentum Holdings, Inc. (Professional Svs.)<br> (b) | 7.250% | 08/01/2032 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77877 |
| BAE Systems PLC (Aerospace & Defense)<br> (b) | 3.000% | 09/15/2050 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 338361 |
| Boeing Co. / The (Aerospace & Defense) | 2.196% | 02/04/2026 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 471403 |
| Boeing Co. / The (Aerospace & Defense) | 5.805% | 05/01/2050 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 349672 |
| Brink's Co. / The (Commercial Svs. & Supplies)<br> (b) | 6.500% | 06/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25728 |
| Brink's Co. / The (Commercial Svs. & Supplies)<br> (b) | 6.750% | 06/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26004 |
| Burlington Northern Santa Fe LLC (Ground Transportation) | 5.200% | 04/15/2054 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 335888 |
| CACI International, Inc. (Professional Svs.)<br> (b) | 6.375% | 06/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25789 |
| Canadian Pacific Railway Co. (Ground Transportation) | 1.750% | 12/02/2026 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 87652 |
| Canadian Pacific Railway Co. (Ground Transportation) | 3.000% | 12/02/2041 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 56202 |
| Canadian Pacific Railway Co. (Ground Transportation) | 3.500% | 05/01/2050 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 495068 |
| Carrier Global Corp. (Building Products) | 5.900% | 03/15/2034 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 139496 |
| Carrier Global Corp. (Building Products) | 6.200% | 03/15/2054 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 173492 |
| Clarivate Science Holdings Corp. (Professional Svs.)<br> (b) | 4.875% | 07/01/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 70877 |
| Clean Harbors, Inc. (Commercial Svs. & Supplies)<br> (b) | 5.750% | 10/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25218 |
| CNH Industrial N.V. (Machinery) | 3.850% | 11/15/2027 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp; 422872 |
| CP Atlas Buyer, Inc. (Building Products)<br> (b) | 9.750% | 07/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26183 |
| CP Atlas Buyer, Inc. (Building Products)<br> (b)(c) | 12.750%, 12.750% PIK | 01/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24969 |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc. (Electrical Equip.)<br> (b) | 6.625% | 12/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77096 |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc. (Electrical Equip.)<br> (b) | 6.750% | 07/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25966 |
| Equifax, Inc. (Professional Svs.) | 2.600% | 12/15/2025 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 746852 |
| ERAC U.S.A. Finance LLC (Ground Transportation)<br> (b) | 4.600% | 05/01/2028 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 151941 |
| Foundation Building Materials, Inc. (Trading Companies & Distributors)<br> (b) | 6.000% | 03/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101361 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (b) | 6.000% | 06/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24786 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (b) | 8.250% | 08/01/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51830 |
| Garda World Security Corp. (Commercial Svs. & Supplies)<br> (b) | 8.375% | 11/15/2032 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103803 |
| Gates Corp. (Machinery)<br> (b) | 6.875% | 07/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51883 |
| General Dynamics Corp. (Aerospace & Defense) | 1.150% | 06/01/2026 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 731500 |
| Goat Holdco LLC (Aerospace & Defense)<br> (b) | 6.750% | 02/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25625 |
| HEICO Corp. (Aerospace & Defense) | 5.350% | 08/01/2033 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 342345 |
| Herc Holdings, Inc. (Trading Companies & Distributors)<br> (b) | 7.000% | 06/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51936 |
| Honeywell International, Inc. (Industrial Conglomerates) | 2.800% | 06/01/2050 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 241044 |
| Huntington Ingalls Industries, Inc. (Aerospace & Defense) | 3.483% | 12/01/2027 | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 551050 |
| Ingersoll Rand, Inc. (Machinery) | 5.450% | 06/15/2034 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 114690 |
| Ingersoll Rand, Inc. (Machinery) | 5.700% | 06/15/2054 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 183202 |
| Interface, Inc. (Commercial Svs. & Supplies)<br> (b) | 5.500% | 12/01/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49916 |
| Madison IAQ LLC (Commercial Svs. & Supplies)<br> (b) | 4.125% | 06/30/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24399 |
| Madison IAQ LLC (Commercial Svs. & Supplies)<br> (b) | 5.875% | 06/30/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98790 |
| Masco Corp. (Building Products) | 3.500% | 11/15/2027 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 197174 |
| Masterbrand, Inc. (Building Products)<br> (b) | 7.000% | 07/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25836 |
| Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC (Building Products)<br> (b) | 6.750% | 04/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25681 |
| MIWD Holdco II LLC / MIWD Finance Corp. (Building Products)<br> (b) | 5.500% | 02/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24353 |
| Northrop Grumman Corp. (Aerospace & Defense) | 3.250% | 01/15/2028 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 614654 |
| QXO Building Products, Inc. (Trading Companies & Distributors)<br> (b) | 6.750% | 04/30/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25885 |
| Republic Services, Inc. (Commercial Svs. & Supplies) | 4.875% | 04/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 204993 |
| Republic Services, Inc. (Commercial Svs. & Supplies) | 2.375% | 03/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 174438 |
| RTX Corp. (Aerospace & Defense) | 5.150% | 02/27/2033 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 652518 |
| Ryder System, Inc. (Ground Transportation) | 5.250% | 06/01/2028 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256794 |
| Science Applications International Corp. (Professional Svs.)<br> (b) | 4.875% | 04/01/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49494 |
| SPX FLOW, Inc. (Machinery)<br> (b) | 8.750% | 04/01/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77044 |
| SS&C Technologies, Inc. (Professional Svs.)<br> (b) | 5.500% | 09/30/2027 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74870 |
| Standard Building Solutions, Inc. (Building Products)<br> (b) | 6.500% | 08/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51301 |
| Standard Building Solutions, Inc. (Building Products)<br> (b) | 6.250% | 08/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25335 |
| Textron, Inc. (Aerospace & Defense) | 3.650% | 03/15/2027 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 494999 |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.750% | 08/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25476 |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.375% | 03/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25560 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Industrials (continued)** |  |  |  |  |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.875% | 12/15/2030 | &nbsp;&nbsp; $25000 | &nbsp;&nbsp; $25903 |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.625% | 03/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25739 |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.375% | 05/31/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50562 |
| TransDigm, Inc. (Aerospace & Defense)<br> (b) | 6.750% | 01/31/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25849 |
| Uber Technologies, Inc. (Ground Transportation) | 4.300% | 01/15/2030 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 245709 |
| Union Pacific Corp. (Ground Transportation) | 2.375% | 05/20/2031 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp; 533103 |
| United Parcel Service, Inc. (Air Freight & Logistics) | 4.875% | 03/03/2033 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 462903 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 4.875% | 01/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24924 |
| United Rentals North America, Inc. (Trading Companies & Distributors) | 3.875% | 02/15/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47301 |
| Verisk Analytics, Inc. (Professional Svs.) | 4.125% | 03/15/2029 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 399054 |
| Waste Connections, Inc. (Commercial Svs. & Supplies) | 2.600% | 02/01/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 187708 |
| Waste Connections, Inc. (Commercial Svs. & Supplies) | 4.200% | 01/15/2033 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196191 |
| Watco Cos. LLC / Watco Finance Corp. (Ground Transportation)<br> (b) | 7.125% | 08/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25877 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (b) | 7.250% | 06/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25325 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (b) | 6.375% | 03/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25740 |
| WESCO Distribution, Inc. (Trading Companies & Distributors)<br> (b) | 6.375% | 03/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25916 |
| White Cap Buyer LLC (Building Products)<br> (b) | 6.875% | 10/15/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74777 |
| Xylem, Inc. (Machinery) | 2.250% | 01/30/2031 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 139243 |
|  |  |  |  | &nbsp;&nbsp; 13664928 |
| **Information Technology–1.7%** |  |  |  |  |
| Apple, Inc. (Tech. Hardware, Storage & Periph.) | 4.000% | 05/10/2028 | &nbsp;&nbsp; 625000 | &nbsp;&nbsp; 628616 |
| Apple, Inc. (Tech. Hardware, Storage & Periph.) | 2.375% | 02/08/2041 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 341468 |
| AppLovin Corp. (Software) | 5.500% | 12/01/2034 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 159998 |
| AthenaHealth Group, Inc. (Software)<br> (b) | 6.500% | 02/15/2030 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99182 |
| Autodesk, Inc. (Software) | 5.300% | 06/15/2035 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp; 143873 |
| Broadcom, Inc. (Semiconductors & Equip.) | 5.050% | 07/12/2029 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp; 350229 |
| Broadcom, Inc. (Semiconductors & Equip.)<br> (b) | 3.469% | 04/15/2034 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 396981 |
| Broadcom, Inc. (Semiconductors & Equip.)<br> (b) | 3.187% | 11/15/2036 | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 12801 |
| Broadcom, Inc. (Semiconductors & Equip.) | 4.900% | 02/15/2038 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp; 263580 |
| Capstone Borrower, Inc. (Software)<br> (b) | 8.000% | 06/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 78434 |
| Cisco Systems, Inc. (Communications Equip.) | 4.750% | 02/24/2030 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 359103 |
| Cloud Software Group, Inc. (Software)<br> (b) | 6.500% | 03/31/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50451 |
| Cloud Software Group, Inc. (Software)<br> (b) | 9.000% | 09/30/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77790 |
| Cloud Software Group, Inc. (Software)<br> (b) | 8.250% | 06/30/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53038 |
| Coherent Corp. (Electronic Equip., Instr. & Comp.)<br> (b) | 5.000% | 12/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49310 |
| Consensus Cloud Solutions, Inc. (Software)<br> (b) | 6.000% | 10/15/2026 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24952 |
| Consensus Cloud Solutions, Inc. (Software)<br> (b) | 6.500% | 10/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25110 |
| CoreWeave, Inc. (IT Svs.)<br> (b) | 9.250% | 06/01/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51640 |
| CoreWeave, Inc. (IT Svs.)<br> (b) | 9.000% | 02/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25622 |
| Dell International LLC / EMC Corp. (Tech. Hardware, Storage & Periph.) | 5.000% | 04/01/2030 | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 286804 |
| Dell International LLC / EMC Corp. (Tech. Hardware, Storage & Periph.) | 5.100% | 02/15/2036 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 298327 |
| Elastic N.V. (Software)<br> (b) | 4.125% | 07/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47995 |
| Ellucian Holdings, Inc. (Software)<br> (b) | 6.500% | 12/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25398 |
| Entegris, Inc. (Semiconductors & Equip.)<br> (b) | 5.950% | 06/15/2030 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76052 |
| Fair Isaac Corp. (Software)<br> (b) | 6.000% | 05/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25311 |
| Fortinet, Inc. (Software) | 1.000% | 03/15/2026 | &nbsp;&nbsp; 470000 | &nbsp;&nbsp; 462459 |
| Fortress Intermediate 3, Inc. (IT Svs.)<br> (b) | 7.500% | 06/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26176 |
| Gen Digital, Inc. (Software)<br> (b) | 6.250% | 04/01/2033 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 76566 |
| Hewlett Packard Enterprise Co. (Tech. Hardware, Storage & Periph.) | 5.000% | 10/15/2034 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 396890 |
| Hewlett Packard Enterprise Co. (Tech. Hardware, Storage & Periph.) | 5.600% | 10/15/2054 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp; 172145 |
| Insight Enterprises, Inc. (Electronic Equip., Instr. & Comp.)<br> (b) | 6.625% | 05/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51265 |
| Keysight Technologies, Inc. (Electronic Equip., Instr. & Comp.) | 5.350% | 07/30/2030 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 207886 |
| Keysight Technologies, Inc. (Electronic Equip., Instr. & Comp.) | 4.950% | 10/15/2034 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 241519 |
| Leidos, Inc. (IT Svs.) | 4.375% | 05/15/2030 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 323979 |
| McAfee Corp. (Software)<br> (b) | 7.375% | 02/15/2030 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 139139 |
| NCR Voyix Corp. (Software)<br> (b) | 5.125% | 04/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24598 |
| Open Text Corp. (Software)<br> (b) | 6.900% | 12/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26010 |
| Open Text Corp. (Software)<br> (b) | 3.875% | 12/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23631 |
| Oracle Corp. (Software) | 6.250% | 11/09/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 326009 |
| Oracle Corp. (Software) | 5.950% | 09/26/2055 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp; 314031 |
| Qnity Electronics, Inc. (Semiconductors & Equip.)<br> (b) | 6.250% | 08/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25530 |
| Rocket Software, Inc. (Software)<br> (b) | 9.000% | 11/28/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25771 |
| Rocket Software, Inc. (Software)<br> (b) | 6.500% | 02/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 73038 |
| Roper Technologies, Inc. (Software) | 4.900% | 10/15/2034 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 525597 |
| Seagate Data Storage Technology Pte. Ltd. (Tech. Hardware, Storage & Periph.)<br> (b) | 8.250% | 12/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26465 |
| Seagate Data Storage Technology Pte. Ltd. (Tech. Hardware, Storage & Periph.)<br> (b) | 5.875% | 07/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25435 |
| Seagate Data Storage Technology Pte. Ltd. (Tech. Hardware, Storage & Periph.)<br> (b) | 9.625% | 12/01/2032 | &nbsp;&nbsp; 39000 | &nbsp;&nbsp; 44174 |
| Synaptics, Inc. (Semiconductors & Equip.)<br> (b) | 4.000% | 06/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47843 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Information Technology (continued)** |  |  |  |  |
| Trimble, Inc. (Electronic Equip., Instr. & Comp.) | 6.100% | 03/15/2033 | &nbsp;&nbsp; $250000 | &nbsp;&nbsp; $268746 |
| TTM Technologies, Inc. (Electronic Equip., Instr. & Comp.)<br> (b) | 4.000% | 03/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24036 |
| UKG, Inc. (Software)<br> (b) | 6.875% | 02/01/2031 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77388 |
| VeriSign, Inc. (IT Svs.) | 2.700% | 06/15/2031 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp; 459673 |
| Viavi Solutions, Inc. (Communications Equip.)<br> (b) | 3.750% | 10/01/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 47142 |
| VMware LLC (Software) | 1.400% | 08/15/2026 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 234665 |
| VMware LLC (Software) | 2.200% | 08/15/2031 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 167584 |
| Zebra Technologies Corp. (Electronic Equip., Instr. & Comp.)<br> (b) | 6.500% | 06/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25677 |
|  |  |  |  | &nbsp;&nbsp; 8863132 |
| **Materials–0.5%** |  |  |  |  |
| Anglo American Capital PLC (Metals & Mining)<br> (b) | 2.875% | 03/17/2031 | &nbsp;&nbsp; 375000 | &nbsp;&nbsp; 343733 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance U.S.A. LLC / Ardagh Metal Packaging Finance PLC <br> (Containers & Packaging)<br>(b) | 4.000% | 09/01/2029 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 185103 |
| Ball Corp. (Containers & Packaging) | 6.000% | 06/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25591 |
| Celanese U.S. Holdings LLC (Chemicals) | 6.750% | 04/15/2033 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49789 |
| Clearwater Paper Corp. (Paper & Forest Products)<br> (b) | 4.750% | 08/15/2028 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23519 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (b) | 7.500% | 09/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25768 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (b) | 7.000% | 03/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50498 |
| Cleveland-Cliffs, Inc. (Metals & Mining)<br> (b) | 7.625% | 01/15/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25760 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (b) | 6.875% | 01/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51291 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (b) | 8.750% | 04/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25681 |
| Clydesdale Acquisition Holdings, Inc. (Containers & Packaging)<br> (b) | 6.750% | 04/15/2032 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51293 |
| Coeur Mining, Inc. (Metals & Mining)<br> (b) | 5.125% | 02/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24553 |
| Crown Americas LLC (Containers & Packaging)<br> (b) | 5.875% | 06/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25253 |
| Freeport-McMoRan, Inc. (Metals & Mining) | 5.400% | 11/14/2034 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 256225 |
| Glencore Funding LLC (Metals & Mining)<br> (b) | 3.375% | 09/23/2051 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 239847 |
| Graphic Packaging International LLC (Containers & Packaging)<br> (b) | 3.500% | 03/01/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23700 |
| Graphic Packaging International LLC (Containers & Packaging)<br> (b) | 3.750% | 02/01/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23369 |
| Illuminate Buyer LLC / Illuminate Holdings IV, Inc. (Chemicals)<br> (b) | 9.000% | 07/01/2028 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 50158 |
| OI European Group B.V. (Containers & Packaging)<br> (b) | 4.750% | 02/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23858 |
| Quikrete Holdings, Inc. (Construction Materials)<br> (b) | 6.375% | 03/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25896 |
| Quikrete Holdings, Inc. (Construction Materials)<br> (b) | 6.750% | 03/01/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25992 |
| RPM International, Inc. (Chemicals) | 4.550% | 03/01/2029 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100705 |
| Sealed Air Corp. (Containers & Packaging)<br> (b) | 4.000% | 12/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24535 |
| Sealed Air Corp. (Containers & Packaging)<br> (b) | 6.500% | 07/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25893 |
| Sealed Air Corp. / Sealed Air Corp. U.S. (Containers & Packaging)<br> (b) | 7.250% | 02/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26233 |
| Solstice Advanced Materials, Inc. (Chemicals)<br> (b) | 5.625% | 09/30/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25083 |
| Trivium Packaging Finance B.V. (Containers & Packaging)<br> (b) | 12.250% | 01/15/2031 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 216468 |
| W.R. Grace Holdings LLC (Chemicals)<br> (b) | 5.625% | 08/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23237 |
| W.R. Grace Holdings LLC (Chemicals)<br> (b) | 6.625% | 08/15/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24720 |
| WRKCo, Inc. (Containers & Packaging) | 4.000% | 03/15/2028 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 323191 |
|  |  |  |  | &nbsp;&nbsp; 2366942 |
| **Real Estate–1.5%** |  |  |  |  |
| Alexandria Real Estate Equities, Inc. (Health Care REITs) | 1.875% | 02/01/2033 | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 435363 |
| American Tower Corp. (Specialized REITs) | 2.700% | 04/15/2031 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 456170 |
| AvalonBay Communities, Inc. (Residential REITs) | 3.350% | 05/15/2027 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 716459 |
| Boston Properties LP (Office REITs) | 3.650% | 02/01/2026 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 648024 |
| Camden Property Trust (Residential REITs) | 4.900% | 01/15/2034 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 507351 |
| Healthcare Realty Holdings LP (Health Care REITs) | 2.000% | 03/15/2031 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 455701 |
| Healthpeak OP LLC (Health Care REITs) | 4.750% | 01/15/2033 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 298059 |
| Iron Mountain, Inc. (Specialized REITs)<br> (b) | 7.000% | 02/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51527 |
| Iron Mountain, Inc. (Specialized REITs)<br> (b) | 6.250% | 01/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25500 |
| Kimco Realty OP LLC (Retail REITs) | 2.700% | 10/01/2030 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 601855 |
| Mid-America Apartments LP (Residential REITs) | 4.000% | 11/15/2025 | &nbsp;&nbsp; 725000 | &nbsp;&nbsp; 724314 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. (Specialized REITs)<br> (b) | 4.250% | 01/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48025 |
| Outfront Media Capital LLC / Outfront Media Capital Corp. (Specialized REITs)<br> (b) | 7.375% | 02/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26374 |
| Piedmont Operating Partnership LP (Office REITs) | 2.750% | 04/01/2032 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 255581 |
| Regency Centers LP (Retail REITs) | 2.950% | 09/15/2029 | &nbsp;&nbsp; 875000 | &nbsp;&nbsp; 835452 |
| RHP Hotel Properties LP / RHP Finance Corp. (Hotel & Resort REITs)<br> (b) | 6.500% | 04/01/2032 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25702 |
| RHP Hotel Properties LP / RHP Finance Corp. (Hotel & Resort REITs)<br> (b) | 6.500% | 06/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25747 |
| UDR, Inc. (Residential REITs) | 3.500% | 01/15/2028 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 787951 |
| W.P. Carey, Inc. (Diversified REITs) | 3.850% | 07/15/2029 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 344488 |
| Welltower OP LLC (Health Care REITs) | 4.250% | 04/01/2026 | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 475014 |
| XHR LP (Hotel & Resort REITs)<br> (b) | 6.625% | 05/15/2030 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51374 |
|  |  |  |  | &nbsp;&nbsp; 7796031 |
| **Utilities–2.3%** |  |  |  |  |
| Ameren Corp. (Multi-Utilities) | 1.750% | 03/15/2028 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 944563 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Corporate Bonds (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Utilities (continued)** |  |  |  |  |
| American Electric Power Co., Inc. (Electric Utilities) | 5.625% | 03/01/2033 | &nbsp;&nbsp; $380000 | &nbsp;&nbsp; $399454 |
| Black Hills Corp. (Multi-Utilities) | 2.500% | 06/15/2030 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 340768 |
| Calpine Corp. (Ind. Power & Renewable Elec.)<br> (b) | 5.000% | 02/01/2031 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49854 |
| Calpine Corp. (Ind. Power & Renewable Elec.)<br> (b) | 3.750% | 03/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23811 |
| Constellation Energy Generation LLC (Electric Utilities) | 5.800% | 03/01/2033 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 427314 |
| Constellation Energy Generation LLC (Electric Utilities) | 6.125% | 01/15/2034 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp; 97940 |
| Dominion Energy, Inc. (Multi-Utilities) | 1.450% | 04/15/2026 | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 659882 |
| Duke Energy Corp. (Electric Utilities) | 4.950% | 09/15/2035 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 298031 |
| Duke Energy Corp. (Electric Utilities) | 3.750% | 09/01/2046 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 344970 |
| Electricite de France SA (Electric Utilities)<br> (b) | 6.250% | 05/23/2033 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 485030 |
| Emera U.S. Finance LP (Electric Utilities) | 3.550% | 06/15/2026 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 397631 |
| Emera U.S. Finance LP (Electric Utilities) | 4.750% | 06/15/2046 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 172573 |
| Enel Finance International N.V. (Electric Utilities)<br> (b) | 2.500% | 07/12/2031 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 669664 |
| Eversource Energy (Electric Utilities) | 3.350% | 03/15/2026 | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 666769 |
| Exelon Corp. (Electric Utilities) | 4.050% | 04/15/2030 | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp; 1162279 |
| Exelon Corp. (Electric Utilities) | 4.100% | 03/15/2052 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp; 121202 |
| FirstEnergy Corp. (Electric Utilities) | 2.650% | 03/01/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 231949 |
| National Fuel Gas Co. (Gas Utilities) | 2.950% | 03/01/2031 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 200742 |
| NextEra Energy Capital Holdings, Inc. (Electric Utilities) | 3.550% | 05/01/2027 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 594952 |
| NextEra Energy Capital Holdings, Inc. (Electric Utilities) | 5.050% | 03/15/2030 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 257417 |
| NextEra Energy Capital Holdings, Inc. (Electric Utilities) | 2.250% | 06/01/2030 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 547813 |
| NiSource, Inc. (Multi-Utilities) | 5.250% | 03/30/2028 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp; 107726 |
| NiSource, Inc. (Multi-Utilities) | 5.400% | 06/30/2033 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 518342 |
| NRG Energy, Inc. (Electric Utilities)<br> (b) | 5.750% | 07/15/2029 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25030 |
| NRG Energy, Inc. (Electric Utilities)<br> (b) | 3.875% | 02/15/2032 | &nbsp;&nbsp; 28000 | &nbsp;&nbsp; 25803 |
| NRG Energy, Inc. (Electric Utilities)<br> (b) | 6.250% | 11/01/2034 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25627 |
| NRG Energy, Inc. (Electric Utilities)<br> (b) | 6.000% | 01/15/2036 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25004 |
| PPL Capital Funding, Inc. (Electric Utilities) | 3.100% | 05/15/2026 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 198588 |
| Puget Energy, Inc. (Electric Utilities) | 2.379% | 06/15/2028 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp; 650398 |
| Sempra (Multi-Utilities) | 3.700% | 04/01/2029 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp; 578141 |
| Southern Co. / The (Rate is fixed until 01/15/2026, then H15T5Y + 373) (Electric Utilities)<br> (d) | 4.000% | 01/15/2051 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 498184 |
| Suburban Propane Partners LP / Suburban Energy Finance Corp. (Gas Utilities) | 5.875% | 03/01/2027 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24928 |
| Suburban Propane Partners LP / Suburban Energy Finance Corp. (Gas Utilities)<br> (b) | 5.000% | 06/01/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 23787 |
| TerraForm Power Operating LLC (Ind. Power & Renewable Elec.)<br> (b) | 5.000% | 01/31/2028 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74459 |
| TerraForm Power Operating LLC (Ind. Power & Renewable Elec.)<br> (b) | 4.750% | 01/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 24163 |
| TransAlta Corp. (Ind. Power & Renewable Elec.) | 7.750% | 11/15/2029 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 77985 |
| Vistra Operations Co. LLC (Ind. Power & Renewable Elec.)<br> (b) | 5.500% | 09/01/2026 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 74941 |
| Vistra Operations Co. LLC (Ind. Power & Renewable Elec.)<br> (b) | 7.750% | 10/15/2031 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26455 |
| WBI Operating LLC (Water Utilities)<br> (b) | 6.250% | 10/15/2030 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 25000 |
| WEC Energy Group, Inc. (Multi-Utilities) | 2.200% | 12/15/2028 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp; 179160 |
| XPLR Infrastructure Operating Partners LP (Electric Utilities)<br> (b) | 7.250% | 01/15/2029 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 51336 |
| XPLR Infrastructure Operating Partners LP (Electric Utilities)<br> (b) | 8.625% | 03/15/2033 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp; 26217 |
|  |  |  |  | &nbsp;&nbsp; 12355882 |
| **Total Corporate Bonds (Cost $125,606,224)** |  |  |  | &nbsp;&nbsp; $120471085 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Government Agency Mortgage-Backed Securities–20.5%** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| Fannie Mae Pool FN BM4333 | 3.500% | 12/01/2047 | &nbsp;&nbsp; $759825 | &nbsp;&nbsp; $707303 |
| Fannie Mae Pool FN BN6715 | 4.000% | 06/01/2049 | &nbsp;&nbsp; 2149444 | &nbsp;&nbsp; 2061544 |
| Fannie Mae Pool FN BP2797 | 2.500% | 05/01/2050 | &nbsp;&nbsp; 1121532 | &nbsp;&nbsp; 955391 |
| Fannie Mae Pool FN BP6700 | 2.500% | 09/01/2050 | &nbsp;&nbsp; 3146064 | &nbsp;&nbsp; 2703639 |
| Fannie Mae Pool FN BP8188 | 2.000% | 09/01/2050 | &nbsp;&nbsp; 4865077 | &nbsp;&nbsp; 3970236 |
| Fannie Mae Pool FN BR1844 | 2.500% | 01/01/2051 | &nbsp;&nbsp; 883066 | &nbsp;&nbsp; 757520 |
| Fannie Mae Pool FN BW7264 | 5.500% | 11/01/2052 | &nbsp;&nbsp; 1000147 | &nbsp;&nbsp; 1013194 |
| Fannie Mae Pool FN BW7449 | 5.000% | 11/01/2052 | &nbsp;&nbsp; 944471 | &nbsp;&nbsp; 940819 |
| Fannie Mae Pool FN BX5678 | 5.500% | 01/01/2053 | &nbsp;&nbsp; 1447695 | &nbsp;&nbsp; 1464574 |
| Fannie Mae Pool FN CA4819 | 4.000% | 12/01/2049 | &nbsp;&nbsp; 741383 | &nbsp;&nbsp; 709113 |
| Fannie Mae Pool FN CA5348 | 3.500% | 03/01/2050 | &nbsp;&nbsp; 1136964 | &nbsp;&nbsp; 1050204 |
| Fannie Mae Pool FN CA5706 | 2.500% | 05/01/2050 | &nbsp;&nbsp; 1520643 | &nbsp;&nbsp; 1298199 |
| Fannie Mae Pool FN CA6998 | 3.000% | 09/01/2050 | &nbsp;&nbsp; 2312299 | &nbsp;&nbsp; 2050180 |
| Fannie Mae Pool FN CA8118 | 2.000% | 12/01/2050 | &nbsp;&nbsp; 1483334 | &nbsp;&nbsp; 1207659 |
| Fannie Mae Pool FN CB3335 | 4.500% | 04/01/2052 | &nbsp;&nbsp; 2794989 | &nbsp;&nbsp; 2756816 |
| Fannie Mae Pool FN CB9426 | 4.500% | 11/01/2054 | &nbsp;&nbsp; 1933946 | &nbsp;&nbsp; 1876352 |
| Fannie Mae Pool FN FA0970 | 6.000% | 03/01/2055 | &nbsp;&nbsp; 2866858 | &nbsp;&nbsp; 2932960 |
| Fannie Mae Pool FN FA1974 | 6.500% | 06/01/2055 | &nbsp;&nbsp; 1968991 | &nbsp;&nbsp; 2043631 |
| Fannie Mae Pool FN FM3734 | 3.500% | 09/01/2049 | &nbsp;&nbsp; 856632 | &nbsp;&nbsp; 805352 |
| Fannie Mae Pool FN FM3919 | 4.000% | 05/01/2049 | &nbsp;&nbsp; 573920 | &nbsp;&nbsp; 549133 |
| Fannie Mae Pool FN FM4122 | 2.000% | 08/01/2050 | &nbsp;&nbsp; 4956360 | &nbsp;&nbsp; 4048952 |
| Fannie Mae Pool FN FM4532 | 3.000% | 09/01/2050 | &nbsp;&nbsp; 2438744 | &nbsp;&nbsp; 2167856 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **U.S. Government Agency Mortgage-Backed Securities (Continued)** | **Rate** | **Maturity**  | **Face Amount** | **Value** |
| Fannie Mae Pool FN FM6708 | 2.500% | 01/01/2051 | &nbsp;&nbsp; $2418155 | &nbsp;&nbsp; $2073840 |
| Fannie Mae Pool FN FM7706 | 3.500% | 08/01/2050 | &nbsp;&nbsp; 2448971 | &nbsp;&nbsp; 2266416 |
| Fannie Mae Pool FN FM8745 | 2.500% | 09/01/2051 | &nbsp;&nbsp; 2514313 | &nbsp;&nbsp; 2120967 |
| Fannie Mae Pool FN FS2037 | 1.500% | 05/01/2037 | &nbsp;&nbsp; 3367926 | &nbsp;&nbsp; 3014022 |
| Fannie Mae Pool FN MA4138 | 1.500% | 09/01/2050 | &nbsp;&nbsp; 3465197 | &nbsp;&nbsp; 2668320 |
| Fannie Mae Pool FN MA4255 | 2.000% | 02/01/2051 | &nbsp;&nbsp; 1375274 | &nbsp;&nbsp; 1116595 |
| Fannie Mae Pool FN MA4536 | 2.000% | 02/01/2037 | &nbsp;&nbsp; 1894806 | &nbsp;&nbsp; 1741903 |
| Fannie Mae Pool FN MA4593 | 4.000% | 03/01/2052 | &nbsp;&nbsp; 570781 | &nbsp;&nbsp; 539241 |
| Fannie Mae Pool FN MA5389 | 6.000% | 06/01/2054 | &nbsp;&nbsp; 1210973 | &nbsp;&nbsp; 1237846 |
| Fannie Mae Pool FN MA5498 | 6.000% | 10/01/2054 | &nbsp;&nbsp; 1281996 | &nbsp;&nbsp; 1311047 |
| Freddie Mac Pool FR QF1237 | 5.000% | 10/01/2052 | &nbsp;&nbsp; 2171230 | &nbsp;&nbsp; 2163346 |
| Freddie Mac Pool FR QF1648 | 5.000% | 10/01/2052 | &nbsp;&nbsp; 644203 | &nbsp;&nbsp; 643578 |
| Freddie Mac Pool FR QJ3044 | 5.500% | 09/01/2054 | &nbsp;&nbsp; 1773120 | &nbsp;&nbsp; 1790405 |
| Freddie Mac Pool FR RA3575 | 2.000% | 09/01/2050 | &nbsp;&nbsp; 4738180 | &nbsp;&nbsp; 3876106 |
| Freddie Mac Pool FR RA7279 | 3.500% | 05/01/2052 | &nbsp;&nbsp; 1177767 | &nbsp;&nbsp; 1085206 |
| Freddie Mac Pool FR SB8148 | 2.000% | 04/01/2037 | &nbsp;&nbsp; 1675964 | &nbsp;&nbsp; 1540156 |
| Freddie Mac Pool FR SB8149 | 2.500% | 04/01/2037 | &nbsp;&nbsp; 1635415 | &nbsp;&nbsp; 1537926 |
| Freddie Mac Pool FR SD0625 | 2.500% | 05/01/2051 | &nbsp;&nbsp; 1738730 | &nbsp;&nbsp; 1479647 |
| Freddie Mac Pool FR SD5958 | 6.500% | 08/01/2054 | &nbsp;&nbsp; 1522624 | &nbsp;&nbsp; 1576082 |
| Freddie Mac Pool FR SD7505 | 4.500% | 08/01/2049 | &nbsp;&nbsp; 553471 | &nbsp;&nbsp; 547529 |
| Freddie Mac Pool FR SD8148 | 3.000% | 05/01/2051 | &nbsp;&nbsp; 1154031 | &nbsp;&nbsp; 1020227 |
| Freddie Mac Pool FR SD8214 | 3.500% | 05/01/2052 | &nbsp;&nbsp; 515022 | &nbsp;&nbsp; 471379 |
| Freddie Mac Pool FR SD8218 | 2.000% | 06/01/2052 | &nbsp;&nbsp; 1271638 | &nbsp;&nbsp; 1029665 |
| Freddie Mac Pool FR SD8220 | 3.000% | 06/01/2052 | &nbsp;&nbsp; 1234831 | &nbsp;&nbsp; 1085890 |
| Freddie Mac Pool FR SD8342 | 5.500% | 07/01/2053 | &nbsp;&nbsp; 2063508 | &nbsp;&nbsp; 2085753 |
| Freddie Mac Pool FR SD8368 | 6.000% | 10/01/2053 | &nbsp;&nbsp; 1534612 | &nbsp;&nbsp; 1571627 |
| Freddie Mac Pool FR SD8469 | 5.500% | 10/01/2054 | &nbsp;&nbsp; 952531 | &nbsp;&nbsp; 961052 |
| Freddie Mac Pool FR SD8491 | 5.000% | 12/01/2054 | &nbsp;&nbsp; 1648626 | &nbsp;&nbsp; 1635825 |
| Freddie Mac Pool FR ZT1257 | 3.000% | 01/01/2046 | &nbsp;&nbsp; 537256 | &nbsp;&nbsp; 494548 |
| Ginnie Mae II Pool G2 MA7589 | 2.500% | 09/20/2051 | &nbsp;&nbsp; 5007503 | &nbsp;&nbsp; 4313083 |
| Ginnie Mae II Pool G2 MA7706 | 3.000% | 11/20/2051 | &nbsp;&nbsp; 4641579 | &nbsp;&nbsp; 4147548 |
| Ginnie Mae II Pool G2 MA8041 | 2.000% | 05/20/2052 | &nbsp;&nbsp; 5263887 | &nbsp;&nbsp; 4351660 |
| Ginnie Mae II Pool G2 MA8044 | 3.500% | 05/20/2052 | &nbsp;&nbsp; 1526667 | &nbsp;&nbsp; 1404368 |
| Ginnie Mae II Pool G2 MA8800 | 5.000% | 04/20/2053 | &nbsp;&nbsp; 2591761 | &nbsp;&nbsp; 2589621 |
| Ginnie Mae II Pool G2 MA8945 | 4.000% | 06/20/2053 | &nbsp;&nbsp; 2924218 | &nbsp;&nbsp; 2773124 |
| Ginnie Mae II Pool G2 MA8946 | 4.500% | 06/20/2053 | &nbsp;&nbsp; 2177920 | &nbsp;&nbsp; 2120492 |
| Ginnie Mae II Pool G2 MA8948 | 5.500% | 06/20/2053 | &nbsp;&nbsp; 1163912 | &nbsp;&nbsp; 1178696 |
| Ginnie Mae II Pool G2 MA8949 | 6.000% | 06/20/2053 | &nbsp;&nbsp; 631262 | &nbsp;&nbsp; 646214 |
| Ginnie Mae II Pool G2 MA9906 | 5.500% | 09/20/2054 | &nbsp;&nbsp; 1389979 | &nbsp;&nbsp; 1402003 |
| **Total U.S. Government Agency Mortgage-Backed Securities (Cost $115,427,789)** |  |  |  | &nbsp;&nbsp; $107683580 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Investment Companies–8.5%** | **Shares** | **Value** |
| Federated Hermes Core Trust - Emerging Markets Core Fund (Acquired 03/24/2023 through 02/27/2024, Cost $7,946,054) <br> (e)(f) | &nbsp;&nbsp; 996517 | &nbsp;&nbsp; $8908862 |
| &nbsp;&nbsp;&nbsp; Federated Hermes Core Trust III - Federated Project and Trade Finance Core Fund (Acquired 05/01/2020 through 09/11/2025, Cost <br> $35,422,113) <br>(f)(g) | &nbsp;&nbsp; 4006856 | &nbsp;&nbsp; 35821291 |
| **Total Investment Companies (Cost $43,368,167)** |  | &nbsp;&nbsp; $44730153 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset-Backed / Mortgage-Backed Securities–2.2%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| **Financials–2.2%** |  |  |  |  |
| BANK 2022-BNK40 A4  | 3.504% | 03/15/2064 | &nbsp;&nbsp; $660000 | &nbsp;&nbsp; $614834 |
| BBCMS Mortgage Trust 2024-5C27 A2  | 5.550% | 07/15/2057 | &nbsp;&nbsp; 1375486 | &nbsp;&nbsp; 1421743 |
| Benchmark 2020-B19 A5  | 1.850% | 09/15/2053 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp; 1011741 |
| Benchmark 2021-B26 A2  | 1.957% | 06/15/2054 | &nbsp;&nbsp; 273490 | &nbsp;&nbsp; 267697 |
| Freddie Mac Multifamily Structured Pass Through Certificates K108 A2  | 1.517% | 03/25/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 360965 |
| Freddie Mac Multifamily Structured Pass Through Certificates K109 A2  | 1.558% | 04/25/2030 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 360342 |
| GS Mortgage-Backed Securities Trust 2022-PJ3 A4 <br> (b) | 2.500% | 08/25/2052 | &nbsp;&nbsp; 1582108 | &nbsp;&nbsp; 1313273 |
| Home Partners of America 2022-1 B <br> (b) | 4.330% | 04/17/2039 | &nbsp;&nbsp; 725297 | &nbsp;&nbsp; 719993 |
| J.P. Morgan Mortgage Trust 2022-1 A2 <br> (b) | 3.000% | 07/25/2052 | &nbsp;&nbsp; 1165968 | &nbsp;&nbsp; 1007441 |
| J.P. Morgan Mortgage Trust 2022-2 A3 <br> (b) | 2.500% | 08/25/2052 | &nbsp;&nbsp; 1551790 | &nbsp;&nbsp; 1285158 |
| J.P. Morgan Mortgage Trust 2022-3 A3 <br> (b) | 2.500% | 08/25/2052 | &nbsp;&nbsp; 1583041 | &nbsp;&nbsp; 1315947 |
| MMAF Equipment Finance LLC 2020-A5 <br> (b) | 1.560% | 10/09/2042 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 717698 |
| Navient Private Education Refi Loan Trust 2020-FA A <br> (b) | 1.220% | 07/15/2069 | &nbsp;&nbsp; 78863 | &nbsp;&nbsp; 74410 |
| Progress Residential 2022-SFR4 B <br> (b) | 4.788% | 05/17/2041 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 795164 |
| SMB Private Education Loan Trust 2020-B A1A <br> (b) | 1.290% | 07/15/2053 | &nbsp;&nbsp; 197591 | &nbsp;&nbsp; 188547 |
| **Total Asset-Backed / Mortgage-Backed Securities (Cost $12,489,413)** |  |  |  | &nbsp;&nbsp; $11454953 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Sovereign Debt Issues–0.3%** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| Mexico Government International Bond  | 3.750% | 01/11/2028 | &nbsp;&nbsp; $625000 | &nbsp;&nbsp; $617969 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Sovereign Debt Issues (Continued)** | **Rate** | **Maturity** | **Face Amount** | **Value** |
| Mexico Government International Bond  | 5.625% | 09/22/2035 | &nbsp;&nbsp; $400000 | &nbsp;&nbsp; $398024 |
| Mexico Government International Bond  | 4.500% | 01/31/2050 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 404119 |
| **Total Sovereign Debt Issues (Cost $1,598,108)** |  |  |  | &nbsp;&nbsp; $1420112 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–0.0%** | **Shares** | **Value** |
| **Communication Services–0.0%** |  |  |
| Audacy, Inc. (Media)<br> (h) | &nbsp;&nbsp; 113 | &nbsp;&nbsp; $2170 |
| **Total Common Stocks (Cost $77,815)** |  | &nbsp;&nbsp; $2170 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Warrants–0.0%** | **Expiration** | **Strike Price** | **Quantity** | **Value** |
| **Communication Services–0.0%** |  |  |  |  |
| Audacy, Inc. Second Lien Warrants (Media)<br> (h) | 09/30/2028 | &nbsp;&nbsp; $77.10 | &nbsp;&nbsp; 23 | &nbsp;&nbsp; $— |
| Audacy, Inc. Second Lien Warrants (with Black-Scholes protections) (Media)<br> (h) | 09/30/2028 | 77.10 | &nbsp;&nbsp; 137 | &nbsp;&nbsp; — |
| **Total Warrants (Cost $47)** |  |  |  | &nbsp;&nbsp; $— |
| **Total Investments – 98.0% (Cost $533,564,881)**<br> (i) |  |  |  | &nbsp;&nbsp; $515522375 |
| **Other Assets in Excess of Liabilities – 2.0%** |  |  |  | &nbsp;&nbsp; 10741196 |
| **Net Assets – 100.0%** |  |  |  | &nbsp;&nbsp; $526263571 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations: | Abbreviations: |
| &nbsp;&nbsp;&nbsp;&nbsp; H15T5Y: | U.S. Treasury Yield Curve Rate T-Note Constant Maturity 5 Year, 3.740% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIK: | Payment-in-Kind |
| &nbsp;&nbsp;&nbsp;&nbsp; REITs: | Real Estate Investment Trusts |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFR: | Secured Overnight Financing Rate, 4.240% at 9/30/2025 |
| &nbsp;&nbsp;&nbsp;&nbsp; SOFRINDX: | Secured Overnight Financing Rate ("SOFR") Compounded Index, 1.214% at 9/30/2025  |
| &nbsp;&nbsp;&nbsp;&nbsp; TSFR3M: | Quarterly CME Term Secured Overnight Financing Rate ("SOFR"), 3.976% at 9/30/2025 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Security is partially pledged as collateral for the futures contracts outstanding at September 30, 2025. The value of securities pledged totaled $809,260. See also <br> the following Schedule of Open Futures Contracts.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Security exempt from registration under Regulation D of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, <br> normally to qualified buyers under Rule 144A. At September 30, 2025, the value of these securities totaled $32,759,798, or 6.2% of the Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (c) | Issuer of the security has the option to make coupon payments in cash or in additional par value of this bond (Payment-in-Kind). |
| &nbsp;&nbsp;&nbsp;&nbsp; (d) | Security is a fixed-then-variable rate instrument in which the coupon or dividend rate is fixed until a later specified date, then is adjusted periodically. Rates <br> stated, including interest rate caps and floors, if any, are those in effect at September 30, 2025.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (e) | Shares of this fund have not been registered and are issued in reliance on Section 4(a)(2) and Regulation D of the Securities Act of 1933. Investments in this fund <br> may only be made by investment companies, insurance company separate accounts, common or commingled trust funds or similar organizations or entities that <br> are "accredited investors" within the meaning of Regulation D of the 1933 Act. <br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (f) | Represents a security deemed to be restricted. At September 30, 2025, the value of restricted securities in the Portfolio totaled $44,730,153, or 8.5% of the <br> Portfolio's net assets.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (g) | Open-end extended payment fund. Beneficial interests in this fund are issued solely in private placement transactions which do not involve any "public offering" <br> within the meaning of Section 4(a)(2) and Regulation D of the Securities Act of 1933. Investments in this fund may only be made by organizations or entities that <br> are "accredited investors" within the meaning of Regulation D of the 1933 Act and that are also "qualified purchasers" as defined in Section 2(a)(51) of the <br> Investment Company Act of 1940, as amended ("Eligible Investors"). This fund has adopted policies to limit the transfer of its shares, which may occur only <br> pursuant to authorization by this fund's Board of Directors, and only to Eligible Investors. When a redeeming shareholder of this fund presents shares to the <br> fund's transfer agent in proper order for redemption, the fund will have up to 31 days to make payment to the redeeming shareholder. The price of redeemed <br> shares will be determined as of the closing net asset value of the fund 24 days after receipt of a shareholder redemption request or, if such date is a weekend or <br> holiday, on the preceding business day. The fund's NAV is calculated each day the NYSE is open.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (h) | Non-income producing security. |
| &nbsp;&nbsp;&nbsp;&nbsp; (i) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Ultra Bond - Long | 88 | December 19, 2025 | &nbsp;&nbsp; $10038939 | &nbsp;&nbsp; $10126875 | &nbsp;&nbsp; $87936 | &nbsp;&nbsp; $(5500)<br>|
| CBT U.S. Long Bond - Long | 8 | December 19, 2025 | &nbsp;&nbsp; 912425 | &nbsp;&nbsp; 932750 | &nbsp;&nbsp; 20325 | &nbsp;&nbsp; (2000)<br>|
| CBT 2-Year U.S. Treasury Note - Long | 408 | December 31, 2025 | &nbsp;&nbsp; 84980231 | &nbsp;&nbsp; 85026563 | &nbsp;&nbsp; 46332 | &nbsp;&nbsp; 44625 |
| CBT 5-Year U.S. Treasury Note - Long | 100 | December 31, 2025 | &nbsp;&nbsp; 10926946 | &nbsp;&nbsp; 10919531 | &nbsp;&nbsp; (7415)<br>| &nbsp;&nbsp; 3906 |
|  |  |  | &nbsp;&nbsp; $106858541 | &nbsp;&nbsp; $107005719 | &nbsp;&nbsp; $147178 | &nbsp;&nbsp; $41031 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Federated Core Plus Bond Portfolio (Continued)**

---

| | |
|:---|:---|
| **Schedule of Open Futures Contracts** | **September 30, 2025 (Unaudited)** |

---

**Short Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Treasury Note - Short | 190 | December 19, 2025 | &nbsp;&nbsp; $(21277114)<br>| &nbsp;&nbsp; $(21375000)<br>| &nbsp;&nbsp; $(97886)<br>| &nbsp;&nbsp; $2969 |
| CBT U.S. Ultra Bond - Short | 12 | December 19, 2025 | &nbsp;&nbsp; (1407186)<br>| &nbsp;&nbsp; (1440750)<br>| &nbsp;&nbsp; (33564)<br>| &nbsp;&nbsp; 6750 |
|  |  |  | &nbsp;&nbsp; $(22684300)<br>| &nbsp;&nbsp; $(22815750)<br>| &nbsp;&nbsp; $(131450)<br>| &nbsp;&nbsp; $9719 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$84174241** | &nbsp;&nbsp; **$84189969** | &nbsp;&nbsp; **$15728** | &nbsp;&nbsp; **$50750** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Intech U.S. Low Volatility Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–98.9%** | **Shares** | **Value** |
| **Communication Services–10.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class A (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 29960 | &nbsp;&nbsp; $7283276 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 24189 | &nbsp;&nbsp; 5891231 |
| AT&T, Inc. (Diversified Telecom. Svs.) | &nbsp;&nbsp; 200706 | &nbsp;&nbsp; 5667937 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 32525 | &nbsp;&nbsp; 6560292 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. Class A (Interactive <br> Media & Svs.)<br>| &nbsp;&nbsp; 18441 | &nbsp;&nbsp; 13542702 |
| Netflix, Inc. (Entertainment)<br> (a) | &nbsp;&nbsp; 4843 | &nbsp;&nbsp; 5806370 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. <br> (Entertainment)<br>(a) | &nbsp;&nbsp; 26108 | &nbsp;&nbsp; 6745263 |
| TKO Group Holdings, Inc. (Entertainment) | &nbsp;&nbsp; 12676 | &nbsp;&nbsp; 2560045 |
| T-Mobile U.S., Inc. (Wireless Telecom. Svs.) | &nbsp;&nbsp; 23395 | &nbsp;&nbsp; 5600295 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. (Diversified <br> Telecom. Svs.)<br>| &nbsp;&nbsp; 34659 | &nbsp;&nbsp; 1523263 |
|  |  | &nbsp;&nbsp; 61180674 |
| **Consumer Discretionary–6.9%** |  |  |
| Amazon.com, Inc. (Broadline Retail)<br> (a) | &nbsp;&nbsp; 75908 | &nbsp;&nbsp; 16667119 |
| AutoZone, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 1182 | &nbsp;&nbsp; 5071064 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc. Class A (Hotels, Restaurants & <br> Leisure)<br>(a) | &nbsp;&nbsp; 14289 | &nbsp;&nbsp; 3886465 |
| eBay, Inc. (Broadline Retail) | &nbsp;&nbsp; 20093 | &nbsp;&nbsp; 1827458 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 2120 | &nbsp;&nbsp; 644247 |
| O'Reilly Automotive, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 55384 | &nbsp;&nbsp; 5970949 |
| Tesla, Inc. (Automobiles)<br> (a) | &nbsp;&nbsp; 10798 | &nbsp;&nbsp; 4802087 |
| TJX Cos., Inc. / The (Specialty Retail) | &nbsp;&nbsp; 6430 | &nbsp;&nbsp; 929392 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 2231 | &nbsp;&nbsp; 339112 |
|  |  | &nbsp;&nbsp; 40137893 |
| **Consumer Staples–15.4%** |  |  |
| Altria Group, Inc. (Tobacco) | &nbsp;&nbsp; 86022 | &nbsp;&nbsp; 5682613 |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. <br> (Household Products)<br>| &nbsp;&nbsp; 53705 | &nbsp;&nbsp; 4706169 |
| Coca-Cola Co. / The (Beverages) | &nbsp;&nbsp; 90231 | &nbsp;&nbsp; 5984120 |
| Colgate-Palmolive Co. (Household Products) | &nbsp;&nbsp; 69390 | &nbsp;&nbsp; 5547037 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 6065 | &nbsp;&nbsp; 5613946 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 49491 | &nbsp;&nbsp; 5114895 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc. (Consumer Staples <br> Distribution & Retail)<br>(a) | &nbsp;&nbsp; 20370 | &nbsp;&nbsp; 1922317 |
| Hershey Co. / The (Food Products) | &nbsp;&nbsp; 18526 | &nbsp;&nbsp; 3465288 |
| Hormel Foods Corp. (Food Products) | &nbsp;&nbsp; 59826 | &nbsp;&nbsp; 1480095 |
| Kellanova (Food Products) | &nbsp;&nbsp; 57841 | &nbsp;&nbsp; 4744119 |
| Kenvue, Inc. (Personal Care Products) | &nbsp;&nbsp; 22442 | &nbsp;&nbsp; 364234 |
| Keurig Dr Pepper, Inc. (Beverages) | &nbsp;&nbsp; 218846 | &nbsp;&nbsp; 5582761 |
| Kimberly-Clark Corp. (Household Products) | &nbsp;&nbsp; 40040 | &nbsp;&nbsp; 4978574 |
| &nbsp;&nbsp;&nbsp; Kroger Co. / The (Consumer Staples <br> Distribution & Retail)<br>| &nbsp;&nbsp; 88476 | &nbsp;&nbsp; 5964167 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc. Class A <br> (Food Products)<br>| &nbsp;&nbsp; 80660 | &nbsp;&nbsp; 5038830 |
| Monster Beverage Corp. (Beverages)<br> (a) | &nbsp;&nbsp; 93827 | &nbsp;&nbsp; 6315495 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 36252 | &nbsp;&nbsp; 5880074 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. / The <br> (Household Products)<br>| &nbsp;&nbsp; 11270 | &nbsp;&nbsp; 1731636 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 34852 | &nbsp;&nbsp; 2869714 |
| Tyson Foods, Inc. Class A (Food Products) | &nbsp;&nbsp; 21280 | &nbsp;&nbsp; 1155504 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 59319 | &nbsp;&nbsp; 6113416 |
|  |  | &nbsp;&nbsp; 90255004 |
| **Financials–6.0%** |  |  |
| Arthur J. Gallagher & Co. (Insurance) | &nbsp;&nbsp; 1301 | &nbsp;&nbsp; 402972 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Class B <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 7796 | &nbsp;&nbsp; 3919361 |
| Brown & Brown, Inc. (Insurance) | &nbsp;&nbsp; 24104 | &nbsp;&nbsp; 2260714 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Financials (continued)** |  |  |
| CBOE Global Markets, Inc. (Capital Markets) | &nbsp;&nbsp; 21783 | &nbsp;&nbsp; $5342281 |
| CME Group, Inc. (Capital Markets) | &nbsp;&nbsp; 22322 | &nbsp;&nbsp; 6031181 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. <br> (Financial Services)<br>| &nbsp;&nbsp; 11384 | &nbsp;&nbsp; 1695419 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 10100 | &nbsp;&nbsp; 3185843 |
| Progressive Corp. / The (Insurance) | &nbsp;&nbsp; 21627 | &nbsp;&nbsp; 5340788 |
| Visa, Inc. (Financial Services) | &nbsp;&nbsp; 1898 | &nbsp;&nbsp; 647939 |
| W. R. Berkley Corp. (Insurance) | &nbsp;&nbsp; 71303 | &nbsp;&nbsp; 5463236 |
| Willis Towers Watson PLC (Insurance) | &nbsp;&nbsp; 3126 | &nbsp;&nbsp; 1079877 |
|  |  | &nbsp;&nbsp; 35369611 |
| **Health Care–12.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories (Health Care Equip. & <br> Supplies)<br>| &nbsp;&nbsp; 45050 | &nbsp;&nbsp; 6033997 |
| AbbVie, Inc. (Biotechnology) | &nbsp;&nbsp; 4242 | &nbsp;&nbsp; 982193 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 54174 | &nbsp;&nbsp; 5289007 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 35425 | &nbsp;&nbsp; 5560308 |
| Cencora, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 20491 | &nbsp;&nbsp; 6404052 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. (Health Care <br> Equip. & Supplies)<br>(a) | &nbsp;&nbsp; 7292 | &nbsp;&nbsp; 567099 |
| Eli Lilly & Co. (Pharmaceuticals) | &nbsp;&nbsp; 2940 | &nbsp;&nbsp; 2243220 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 51494 | &nbsp;&nbsp; 5715834 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 13362 | &nbsp;&nbsp; 5694884 |
| Incyte Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 15044 | &nbsp;&nbsp; 1275882 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 831848 |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 35672 | &nbsp;&nbsp; 6614302 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 7307 | &nbsp;&nbsp; 5644950 |
| Medtronic PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 34929 | &nbsp;&nbsp; 3326638 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 25227 | &nbsp;&nbsp; 4807762 |
| ResMed, Inc. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 13601 | &nbsp;&nbsp; 3723002 |
| STERIS PLC (Health Care Equip. & Supplies) | &nbsp;&nbsp; 10187 | &nbsp;&nbsp; 2520671 |
| Vertex Pharmaceuticals, Inc. (Biotechnology)<br> (a) | &nbsp;&nbsp; 13502 | &nbsp;&nbsp; 5287923 |
|  |  | &nbsp;&nbsp; 72523572 |
| **Industrials–8.1%** |  |  |
| Axon Enterprise, Inc. (Aerospace & Defense)<br> (a) | &nbsp;&nbsp; 7027 | &nbsp;&nbsp; 5042856 |
| Cintas Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 5497 | &nbsp;&nbsp; 1128314 |
| GE Vernova, Inc. (Electrical Equip.) | &nbsp;&nbsp; 2239 | &nbsp;&nbsp; 1376761 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 2759 | &nbsp;&nbsp; 940819 |
| General Electric Co. (Aerospace & Defense) | &nbsp;&nbsp; 17302 | &nbsp;&nbsp; 5204788 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 14280 | &nbsp;&nbsp; 2802165 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 10737 | &nbsp;&nbsp; 3279187 |
| Leidos Holdings, Inc. (Professional Svs.) | &nbsp;&nbsp; 3592 | &nbsp;&nbsp; 678744 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 5048 | &nbsp;&nbsp; 2520012 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. (Aerospace & <br> Defense)<br>| &nbsp;&nbsp; 8844 | &nbsp;&nbsp; 5388826 |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 26733 | &nbsp;&nbsp; 6134689 |
| Rollins, Inc. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 56850 | &nbsp;&nbsp; 3339369 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 34142 | &nbsp;&nbsp; 5712981 |
| Verisk Analytics, Inc. (Professional Svs.) | &nbsp;&nbsp; 11149 | &nbsp;&nbsp; 2804085 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 4985 | &nbsp;&nbsp; 1100838 |
|  |  | &nbsp;&nbsp; 47454434 |
| **Information Technology–32.8%** |  |  |
| Adobe, Inc. (Software)<br> (a) | &nbsp;&nbsp; 6184 | &nbsp;&nbsp; 2181406 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. (Tech. Hardware, Storage & <br> Periph.)<br>| &nbsp;&nbsp; 124319 | &nbsp;&nbsp; 31655347 |
| Arista Networks, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 12767 | &nbsp;&nbsp; 1860280 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Intech U.S. Low Volatility Portfolio (Continued)**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Information Technology (continued)** |  |  |
| Broadcom, Inc. (Semiconductors & Equip.) | &nbsp;&nbsp; 35077 | &nbsp;&nbsp; $11572253 |
| Cisco Systems, Inc. (Communications Equip.) | &nbsp;&nbsp; 79842 | &nbsp;&nbsp; 5462790 |
| Crowdstrike Holdings, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 4440 | &nbsp;&nbsp; 2177287 |
| F5, Inc. (Communications Equip.)<br> (a) | &nbsp;&nbsp; 10365 | &nbsp;&nbsp; 3349864 |
| Fortinet, Inc. (Software)<br> (a) | &nbsp;&nbsp; 63906 | &nbsp;&nbsp; 5373216 |
| GoDaddy, Inc. Class A (IT Svs.)<br> (a) | &nbsp;&nbsp; 20915 | &nbsp;&nbsp; 2861799 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. <br> (IT Svs.)<br>| &nbsp;&nbsp; 22029 | &nbsp;&nbsp; 6215703 |
| Intuit, Inc. (Software) | &nbsp;&nbsp; 5385 | &nbsp;&nbsp; 3677470 |
| Microsoft Corp. (Software) | &nbsp;&nbsp; 66642 | &nbsp;&nbsp; 34517224 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. <br> (Communications Equip.)<br>| &nbsp;&nbsp; 7746 | &nbsp;&nbsp; 3542168 |
| NVIDIA Corp. (Semiconductors & Equip.) | &nbsp;&nbsp; 245377 | &nbsp;&nbsp; 45782441 |
| Oracle Corp. (Software) | &nbsp;&nbsp; 18560 | &nbsp;&nbsp; 5219814 |
| Palantir Technologies, Inc. Class A (Software)<br> (a) | &nbsp;&nbsp; 36839 | &nbsp;&nbsp; 6720170 |
| Palo Alto Networks, Inc. (Software)<br> (a) | &nbsp;&nbsp; 22985 | &nbsp;&nbsp; 4680206 |
| Roper Technologies, Inc. (Software) | &nbsp;&nbsp; 4997 | &nbsp;&nbsp; 2491954 |
| Salesforce, Inc. (Software) | &nbsp;&nbsp; 15064 | &nbsp;&nbsp; 3570168 |
| Tyler Technologies, Inc. (Software)<br> (a) | &nbsp;&nbsp; 8492 | &nbsp;&nbsp; 4442675 |
| VeriSign, Inc. (IT Svs.) | &nbsp;&nbsp; 16759 | &nbsp;&nbsp; 4685314 |
|  |  | &nbsp;&nbsp; 192039549 |
| **Materials–0.9%** |  |  |
| Newmont Corp. (Metals & Mining) | &nbsp;&nbsp; 59333 | &nbsp;&nbsp; 5002365 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Real Estate–0.8%** |  |  |
| Welltower, Inc. (Health Care REITs) | &nbsp;&nbsp; 26127 | &nbsp;&nbsp; $4654264 |
| **Utilities–5.2%** |  |  |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. <br> (Electric Utilities)<br>| &nbsp;&nbsp; 21310 | &nbsp;&nbsp; 2397375 |
| &nbsp;&nbsp;&nbsp; American Water Works Co., Inc. <br> (Water Utilities)<br>| &nbsp;&nbsp; 16444 | &nbsp;&nbsp; 2288840 |
| Atmos Energy Corp. (Gas Utilities) | &nbsp;&nbsp; 18593 | &nbsp;&nbsp; 3174755 |
| CenterPoint Energy, Inc. (Multi-Utilities) | &nbsp;&nbsp; 51599 | &nbsp;&nbsp; 2002041 |
| Consolidated Edison, Inc. (Multi-Utilities) | &nbsp;&nbsp; 53439 | &nbsp;&nbsp; 5371688 |
| Duke Energy Corp. (Electric Utilities) | &nbsp;&nbsp; 43885 | &nbsp;&nbsp; 5430769 |
| Exelon Corp. (Electric Utilities) | &nbsp;&nbsp; 25230 | &nbsp;&nbsp; 1135602 |
| FirstEnergy Corp. (Electric Utilities) | &nbsp;&nbsp; 17936 | &nbsp;&nbsp; 821828 |
| NiSource, Inc. (Multi-Utilities) | &nbsp;&nbsp; 20809 | &nbsp;&nbsp; 901030 |
| Southern Co. / The (Electric Utilities) | &nbsp;&nbsp; 67543 | &nbsp;&nbsp; 6401050 |
| WEC Energy Group, Inc. (Multi-Utilities) | &nbsp;&nbsp; 7156 | &nbsp;&nbsp; 820006 |
|  |  | &nbsp;&nbsp; 30744984 |
| **Total Common Stocks (Cost $493,499,082)** |  | &nbsp;&nbsp; $579362350 |
| **Total Investments – 98.9% (Cost $493,499,082)**<br> (b) |  | &nbsp;&nbsp; $579362350 |
| **Other Assets in Excess of Liabilities – 1.1%** |  | &nbsp;&nbsp; 6278578 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $585640928 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Footnotes: <br> (a) Non-income producing security. <br> (b) Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of Investments.

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP AB Relative Value Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Common Stocks–96.5%** | **Shares** | **Value** |
| **Communication Services–6.0%** |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. Class C (Interactive Media & <br> Svs.)<br>| &nbsp;&nbsp; 3666 | &nbsp;&nbsp; $892854 |
| AT&T, Inc. (Diversified Telecom. Svs.) | &nbsp;&nbsp; 91301 | &nbsp;&nbsp; 2578340 |
| Electronic Arts, Inc. (Entertainment) | &nbsp;&nbsp; 6184 | &nbsp;&nbsp; 1247313 |
| Walt Disney Co. / The (Entertainment) | &nbsp;&nbsp; 21821 | &nbsp;&nbsp; 2498505 |
|  |  | &nbsp;&nbsp; 7217012 |
| **Consumer Discretionary–8.9%** |  |  |
| BorgWarner, Inc. (Automobile Components) | &nbsp;&nbsp; 23912 | &nbsp;&nbsp; 1051172 |
| Dick's Sporting Goods, Inc. (Specialty Retail) | &nbsp;&nbsp; 7121 | &nbsp;&nbsp; 1582429 |
| Genuine Parts Co. (Distributors) | &nbsp;&nbsp; 5942 | &nbsp;&nbsp; 823561 |
| Lowe's Cos., Inc. (Specialty Retail) | &nbsp;&nbsp; 8217 | &nbsp;&nbsp; 2065014 |
| &nbsp;&nbsp;&nbsp; NIKE, Inc. Class B (Textiles, Apparel & Luxury <br> Goods)<br>| &nbsp;&nbsp; 11346 | &nbsp;&nbsp; 791157 |
| Pool Corp. (Distributors) | &nbsp;&nbsp; 2404 | &nbsp;&nbsp; 745408 |
| Ross Stores, Inc. (Specialty Retail) | &nbsp;&nbsp; 8875 | &nbsp;&nbsp; 1352461 |
| Ulta Beauty, Inc. (Specialty Retail)<br> (a) | &nbsp;&nbsp; 1812 | &nbsp;&nbsp; 990711 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. (Hotels, Restaurants & <br> Leisure)<br>| &nbsp;&nbsp; 8581 | &nbsp;&nbsp; 1304312 |
|  |  | &nbsp;&nbsp; 10706225 |
| **Consumer Staples–5.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. (Consumer <br> Staples Distribution & Retail)<br>| &nbsp;&nbsp; 1959 | &nbsp;&nbsp; 1107462 |
| Philip Morris International, Inc. (Tobacco) | &nbsp;&nbsp; 16321 | &nbsp;&nbsp; 2647266 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. (Consumer Staples Distribution & <br> Retail)<br>| &nbsp;&nbsp; 30984 | &nbsp;&nbsp; 3193211 |
|  |  | &nbsp;&nbsp; 6947939 |
| **Energy–7.1%** |  |  |
| APA Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 24216 | &nbsp;&nbsp; 587964 |
| Cactus, Inc. Class A (Energy Equip. & Svs.) | &nbsp;&nbsp; 16082 | &nbsp;&nbsp; 634757 |
| Chevron Corp. (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 14404 | &nbsp;&nbsp; 2236797 |
| ConocoPhillips (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 15679 | &nbsp;&nbsp; 1483077 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. (Oil, Gas & Consumable <br> Fuels)<br>| &nbsp;&nbsp; 25267 | &nbsp;&nbsp; 2832936 |
| Phillips 66 (Oil, Gas & Consumable Fuels) | &nbsp;&nbsp; 6021 | &nbsp;&nbsp; 818976 |
|  |  | &nbsp;&nbsp; 8594507 |
| **Financials–21.0%** |  |  |
| Axis Capital Holdings Ltd. (Insurance) | &nbsp;&nbsp; 17032 | &nbsp;&nbsp; 1631665 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. Class B <br> (Financial Services)<br>(a) | &nbsp;&nbsp; 9247 | &nbsp;&nbsp; 4648837 |
| Citigroup, Inc. (Banks) | &nbsp;&nbsp; 28469 | &nbsp;&nbsp; 2889603 |
| Fiserv, Inc. (Financial Services)<br> (a) | &nbsp;&nbsp; 4958 | &nbsp;&nbsp; 639235 |
| JPMorgan Chase & Co. (Banks) | &nbsp;&nbsp; 18053 | &nbsp;&nbsp; 5694458 |
| Mastercard, Inc. Class A (Financial Services) | &nbsp;&nbsp; 3505 | &nbsp;&nbsp; 1993679 |
| MetLife, Inc. (Insurance) | &nbsp;&nbsp; 12329 | &nbsp;&nbsp; 1015540 |
| MGIC Investment Corp. (Financial Services) | &nbsp;&nbsp; 19702 | &nbsp;&nbsp; 558946 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. <br> (Capital Markets)<br>| &nbsp;&nbsp; 5718 | &nbsp;&nbsp; 986927 |
| S&P Global, Inc. (Capital Markets) | &nbsp;&nbsp; 5011 | &nbsp;&nbsp; 2438904 |
| Wells Fargo & Co. (Banks) | &nbsp;&nbsp; 33367 | &nbsp;&nbsp; 2796822 |
|  |  | &nbsp;&nbsp; 25294616 |
| **Health Care–18.9%** |  |  |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. (Life Sciences Tools <br> & Svs.)<br>| &nbsp;&nbsp; 15413 | &nbsp;&nbsp; 1978259 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc. (Health Care Equip. & <br> Supplies)<br>(a) | &nbsp;&nbsp; 5229 | &nbsp;&nbsp; 654775 |
| Cencora, Inc. (Health Care Providers & Svs.) | &nbsp;&nbsp; 5618 | &nbsp;&nbsp; 1755793 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc. <br> (Life Sciences Tools & Svs.)<br>(a) | &nbsp;&nbsp; 4802 | &nbsp;&nbsp; 751321 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. (Health Care <br> Equip. & Supplies)<br>| &nbsp;&nbsp; 10493 | &nbsp;&nbsp; 788024 |
| Gilead Sciences, Inc. (Biotechnology) | &nbsp;&nbsp; 16340 | &nbsp;&nbsp; 1813740 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. (Health Care Providers & <br> Svs.)<br>| &nbsp;&nbsp; 2720 | &nbsp;&nbsp; 1159264 |

---

---

| | | |
|:---|:---|:---|
| **Common Stocks (Continued)** | **Shares** | **Value** |
| **Health Care (continued)** |  |  |
| Johnson & Johnson (Pharmaceuticals) | &nbsp;&nbsp; 30526 | &nbsp;&nbsp; $5660131 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. (Health Care Providers <br> & Svs.)<br>| &nbsp;&nbsp; 9189 | &nbsp;&nbsp; 1751240 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. <br> (Biotechnology)<br>| &nbsp;&nbsp; 4891 | &nbsp;&nbsp; 2750063 |
| ResMed, Inc. (Health Care Equip. & Supplies) | &nbsp;&nbsp; 4552 | &nbsp;&nbsp; 1246019 |
| United Therapeutics Corp. (Biotechnology)<br> (a) | &nbsp;&nbsp; 1474 | &nbsp;&nbsp; 617916 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. (Health Care <br> Providers & Svs.)<br>| &nbsp;&nbsp; 5488 | &nbsp;&nbsp; 1895006 |
|  |  | &nbsp;&nbsp; 22821551 |
| **Industrials–17.0%** |  |  |
| Allegion PLC (Building Products) | &nbsp;&nbsp; 7444 | &nbsp;&nbsp; 1320193 |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. <br> (Machinery)<br>| &nbsp;&nbsp; 7498 | &nbsp;&nbsp; 636430 |
| CSX Corp. (Ground Transportation) | &nbsp;&nbsp; 29188 | &nbsp;&nbsp; 1036466 |
| Curtiss-Wright Corp. (Aerospace & Defense) | &nbsp;&nbsp; 1024 | &nbsp;&nbsp; 555971 |
| Generac Holdings, Inc. (Electrical Equip.)<br> (a) | &nbsp;&nbsp; 7646 | &nbsp;&nbsp; 1279940 |
| ITT, Inc. (Machinery) | &nbsp;&nbsp; 6499 | &nbsp;&nbsp; 1161761 |
| &nbsp;&nbsp;&nbsp; J.B. Hunt Transport Services, Inc. <br> (Ground Transportation)<br>| &nbsp;&nbsp; 4730 | &nbsp;&nbsp; 634624 |
| Landstar System, Inc. (Ground Transportation) | &nbsp;&nbsp; 6109 | &nbsp;&nbsp; 748719 |
| &nbsp;&nbsp;&nbsp; MSA Safety, Inc. (Commercial Svs. & <br> Supplies)<br>| &nbsp;&nbsp; 4442 | &nbsp;&nbsp; 764335 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc. Class A (Trading <br> Companies & Distributors)<br>| &nbsp;&nbsp; 10749 | &nbsp;&nbsp; 990413 |
| nVent Electric PLC (Electrical Equip.) | &nbsp;&nbsp; 4881 | &nbsp;&nbsp; 481462 |
| Otis Worldwide Corp. (Machinery) | &nbsp;&nbsp; 12936 | &nbsp;&nbsp; 1182738 |
| PACCAR, Inc. (Machinery) | &nbsp;&nbsp; 7430 | &nbsp;&nbsp; 730518 |
| Paycom Software, Inc. (Professional Svs.) | &nbsp;&nbsp; 3731 | &nbsp;&nbsp; 776570 |
| RTX Corp. (Aerospace & Defense) | &nbsp;&nbsp; 23026 | &nbsp;&nbsp; 3852941 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br> (Ground Transportation)<br>(a) | &nbsp;&nbsp; 10587 | &nbsp;&nbsp; 1037208 |
| Veralto Corp. (Commercial Svs. & Supplies) | &nbsp;&nbsp; 20039 | &nbsp;&nbsp; 2136358 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. <br> (Machinery)<br>| &nbsp;&nbsp; 5508 | &nbsp;&nbsp; 1104189 |
|  |  | &nbsp;&nbsp; 20430836 |
| **Information Technology–7.8%** |  |  |
| Cisco Systems, Inc. (Communications Equip.) | &nbsp;&nbsp; 29855 | &nbsp;&nbsp; 2042679 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 5561 | &nbsp;&nbsp; 744618 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. <br> – ADR (Semiconductors & Equip.)<br>| &nbsp;&nbsp; 6068 | &nbsp;&nbsp; 1694732 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. (Semiconductors & <br> Equip.)<br>| &nbsp;&nbsp; 19346 | &nbsp;&nbsp; 3554440 |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp. Class A (Electronic <br> Equip., Instr. & Comp.)<br>(a) | &nbsp;&nbsp; 4442 | &nbsp;&nbsp; 1319985 |
|  |  | &nbsp;&nbsp; 9356454 |
| **Materials–2.2%** |  |  |
| CF Industries Holdings, Inc. (Chemicals) | &nbsp;&nbsp; 11466 | &nbsp;&nbsp; 1028500 |
| PPG Industries, Inc. (Chemicals) | &nbsp;&nbsp; 4074 | &nbsp;&nbsp; 428218 |
| Steel Dynamics, Inc. (Metals & Mining) | &nbsp;&nbsp; 8655 | &nbsp;&nbsp; 1206767 |
|  |  | &nbsp;&nbsp; 2663485 |
| **Real Estate–1.8%** |  |  |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc. (Real Estate Mgmt. & <br> Development)<br>(a) | &nbsp;&nbsp; 4023 | &nbsp;&nbsp; 1199981 |
| Public Storage (Specialized REITs) | &nbsp;&nbsp; 3226 | &nbsp;&nbsp; 931830 |
|  |  | &nbsp;&nbsp; 2131811 |
| **Total Common Stocks (Cost $97,740,633)** |  | &nbsp;&nbsp; $116164436 |
| **Total Investments – 96.5% (Cost $97,740,633)**<br> (b) |  | &nbsp;&nbsp; $116164436 |
| **Other Assets in Excess of Liabilities – 3.5%** |  | &nbsp;&nbsp; 4216471 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $120380907 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ADR: American Depositary Receipts <br> REITs: Real Estate Investment Trusts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Footnotes: <br> (a) Non-income producing security. <br> (b) Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of Investments.

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Managed Risk Balanced Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–95.6%** | **Shares** | **Value** |
| Invesco QQQ Trust Series 1 ETF  | &nbsp;&nbsp; 32000 | &nbsp;&nbsp; $19211840 |
| iShares AAA CLO Active ETF  | &nbsp;&nbsp; 66000 | &nbsp;&nbsp; 3429690 |
| iShares Core MSCI EAFE ETF  | &nbsp;&nbsp; 217905 | &nbsp;&nbsp; 19025286 |
| iShares Core MSCI Emerging Markets ETF  | &nbsp;&nbsp; 105402 | &nbsp;&nbsp; 6948100 |
| iShares Core S&P 500 ETF  | &nbsp;&nbsp; 197178 | &nbsp;&nbsp; 131971235 |
| iShares Core S&P Mid-Cap ETF  | &nbsp;&nbsp; 205000 | &nbsp;&nbsp; 13378300 |
| iShares Core S&P Total U.S. Stock Market ETF  | &nbsp;&nbsp; 41500 | &nbsp;&nbsp; 6044475 |
| iShares Core U.S. Aggregate Bond ETF  | &nbsp;&nbsp; 1961199 | &nbsp;&nbsp; 196610200 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF  | &nbsp;&nbsp; 249317 | &nbsp;&nbsp; 27791366 |
| iShares MSCI EAFE ETF  | &nbsp;&nbsp; 69613 | &nbsp;&nbsp; 6499766 |
| iShares Russell 1000 ETF  | &nbsp;&nbsp; 23153 | &nbsp;&nbsp; 8461958 |
| SPDR Portfolio S&P 500 Value ETF  | &nbsp;&nbsp; 220000 | &nbsp;&nbsp; 12172600 |
| Vanguard S&P 500 ETF  | &nbsp;&nbsp; 38000 | &nbsp;&nbsp; 23270440 |
| Vanguard S&P 500 Value ETF  | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 997350 |
| Vanguard Total Stock Market ETF  | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 18049350 |
| **Total Exchange Traded Funds (Cost $420,817,436)** |  | &nbsp;&nbsp; $493861956 |
| **Total Investments – 95.6% (Cost $420,817,436)**<br> (a) |  | &nbsp;&nbsp; $493861956 |
| **Other Assets in Excess of Liabilities – 4.4%**<br> (b) |  | &nbsp;&nbsp; 22987085 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $516849041 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> CLO: Collateralized Loan Obligation <br> ETF: Exchange Traded Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Includes $725,677 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CBT 10-Year U.S. Treasury Note - Long | 137 | December 19, 2025 | &nbsp;&nbsp; $15372060 | &nbsp;&nbsp; $15412500 | &nbsp;&nbsp; $40440 | &nbsp;&nbsp; $(2141)<br>|
| MSCI EAFE Index - Long | 18 | December 19, 2025 | &nbsp;&nbsp; 2509420 | &nbsp;&nbsp; 2506770 | &nbsp;&nbsp; (2650)<br>| &nbsp;&nbsp; 9630 |
| MSCI Emerging Markets Index - Long | 168 | December 19, 2025 | &nbsp;&nbsp; 11359675 | &nbsp;&nbsp; 11421480 | &nbsp;&nbsp; 61805 | &nbsp;&nbsp; 36960 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$29241155** | &nbsp;&nbsp; **$29340750** | &nbsp;&nbsp; **$99595** | &nbsp;&nbsp; **$44449** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Managed Risk Moderate Growth Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–97.2%** | **Shares** | **Value** |
| Invesco QQQ Trust Series 1 ETF  | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; $27617020 |
| iShares Core MSCI EAFE ETF  | &nbsp;&nbsp; 264694 | &nbsp;&nbsp; 23110433 |
| iShares Core MSCI Emerging Markets ETF  | &nbsp;&nbsp; 176946 | &nbsp;&nbsp; 11664280 |
| iShares Core S&P 500 ETF  | &nbsp;&nbsp; 218194 | &nbsp;&nbsp; 146037244 |
| iShares Core S&P Mid-Cap ETF  | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 3263000 |
| iShares Core S&P Total U.S. Stock Market ETF  | &nbsp;&nbsp; 83000 | &nbsp;&nbsp; 12088950 |
| iShares Core U.S. Aggregate Bond ETF  | &nbsp;&nbsp; 1592480 | &nbsp;&nbsp; 159646120 |
| iShares MSCI EAFE ETF  | &nbsp;&nbsp; 24921 | &nbsp;&nbsp; 2326874 |
| iShares Russell 1000 ETF  | &nbsp;&nbsp; 46454 | &nbsp;&nbsp; 16978008 |
| SPDR Portfolio S&P 500 Value ETF  | &nbsp;&nbsp; 257000 | &nbsp;&nbsp; 14219810 |
| Vanguard S&P 500 ETF  | &nbsp;&nbsp; 21000 | &nbsp;&nbsp; 12859980 |
| Vanguard S&P 500 Value ETF  | &nbsp;&nbsp; 7000 | &nbsp;&nbsp; 1396290 |
| Vanguard Total Stock Market ETF  | &nbsp;&nbsp; 47000 | &nbsp;&nbsp; 15423990 |
| **Total Exchange Traded Funds (Cost $343,186,249)** |  | &nbsp;&nbsp; $446631999 |
| **Total Investments – 97.2% (Cost $343,186,249)**<br> (a) |  | &nbsp;&nbsp; $446631999 |
| **Other Assets in Excess of Liabilities – 2.8%**<br> (b) |  | &nbsp;&nbsp; 12980176 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $459612175 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> ETF: Exchange Traded Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Includes $1,566,714 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P 500 Index - Long | 55 | December 19, 2025 | &nbsp;&nbsp; $18366425 | &nbsp;&nbsp; $18531563 | &nbsp;&nbsp; $165138 | &nbsp;&nbsp; $69438 |
| MSCI EAFE Index - Long | 32 | December 19, 2025 | &nbsp;&nbsp; 4461188 | &nbsp;&nbsp; 4456480 | &nbsp;&nbsp; (4708)<br>| &nbsp;&nbsp; 17120 |
| MSCI Emerging Markets Index - Long | 73 | December 19, 2025 | &nbsp;&nbsp; 4936050 | &nbsp;&nbsp; 4962905 | &nbsp;&nbsp; 26855 | &nbsp;&nbsp; 16060 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$27763663** | &nbsp;&nbsp; **$27950948** | &nbsp;&nbsp; **$187285** | &nbsp;&nbsp; **$102618** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Constellation Managed Risk Growth Portfolio**

**Schedule of Investments** 

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Exchange Traded Funds–90.4%** | **Shares** | **Value** |
| Invesco QQQ Trust Series 1 ETF  | &nbsp;&nbsp; 51000 | &nbsp;&nbsp; $30618870 |
| iShares AAA CLO Active ETF  | &nbsp;&nbsp; 12130 | &nbsp;&nbsp; 630336 |
| iShares Core MSCI EAFE ETF  | &nbsp;&nbsp; 296899 | &nbsp;&nbsp; 25922252 |
| iShares Core MSCI Emerging Markets ETF  | &nbsp;&nbsp; 83134 | &nbsp;&nbsp; 5480193 |
| iShares Core S&P 500 ETF  | &nbsp;&nbsp; 245000 | &nbsp;&nbsp; 163978500 |
| iShares Core S&P Mid-Cap ETF  | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 16315000 |
| iShares Core S&P Total U.S. Stock Market ETF  | &nbsp;&nbsp; 69000 | &nbsp;&nbsp; 10049850 |
| iShares Core U.S. Aggregate Bond ETF  | &nbsp;&nbsp; 595240 | &nbsp;&nbsp; 59672810 |
| iShares MSCI EAFE ETF  | &nbsp;&nbsp; 93897 | &nbsp;&nbsp; 8767163 |
| iShares Russell 1000 ETF  | &nbsp;&nbsp; 31834 | &nbsp;&nbsp; 11634690 |
| SPDR Portfolio S&P 500 Value ETF  | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 13002550 |
| Vanguard S&P 500 ETF  | &nbsp;&nbsp; 26000 | &nbsp;&nbsp; 15921880 |
| Vanguard S&P 500 Value ETF  | &nbsp;&nbsp; 7000 | &nbsp;&nbsp; 1396290 |
| Vanguard Total Stock Market ETF  | &nbsp;&nbsp; 75000 | &nbsp;&nbsp; 24612750 |
| **Total Exchange Traded Funds (Cost $280,697,781)** |  | &nbsp;&nbsp; $388003134 |
| **Total Investments – 90.4% (Cost $280,697,781)**<br> (a) |  | &nbsp;&nbsp; $388003134 |
| **Other Assets in Excess of Liabilities – 9.6%**<br> (b) |  | &nbsp;&nbsp; 40978630 |
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $428981764 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Abbreviations: <br> CLO: Collateralized Loan Obligation <br> ETF: Exchange Traded Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Represents cost for financial reporting purposes, which may differ from cost basis for federal income tax purposes. See also Note 4 of the Notes to Schedules of <br> Investments.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; (b) | Includes $1,671,715 of cash pledged as collateral for the futures contracts outstanding at September 30, 2025. See also the following Schedule of Open Futures <br> Contracts.<br>|

---

The accompanying notes are an integral part of these financial statements.

**Schedule of Open Futures Contracts**

**September 30, 2025 (Unaudited)** 

**Long Futures Contracts** <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of**<br> **contracts**<br>| **Expiration Date** | **Notional**<br> **Amount**<br>| **Value** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Variation Margin** <br> **Receivable** <br> **(Payable)**<br>|
| CME E-mini S&P 500 Index - Long | 71 | December 19, 2025 | &nbsp;&nbsp; $23709386 | &nbsp;&nbsp; $23922563 | &nbsp;&nbsp; $213177 | &nbsp;&nbsp; $89637 |
| MSCI EAFE Index - Long | 4 | December 19, 2025 | &nbsp;&nbsp; 557648 | &nbsp;&nbsp; 557060 | &nbsp;&nbsp; (588)<br>| &nbsp;&nbsp; 2140 |
| MSCI Emerging Markets Index - Long | 9 | December 19, 2025 | &nbsp;&nbsp; 608554 | &nbsp;&nbsp; 611865 | &nbsp;&nbsp; 3311 | &nbsp;&nbsp; 1980 |
| **Total Futures Contracts** |  |  | &nbsp;&nbsp; **$24875588** | &nbsp;&nbsp; **$25091488** | &nbsp;&nbsp; **$215900** | &nbsp;&nbsp; **$93757** |

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Moderately Conservative Model Portfolio**

**Schedule of Investments in Unaffiliated Issuers**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Open-End Mutual Funds–34.1%** | **Shares** | **Value** |
| DFA Emerging Markets Portfolio Institutional | &nbsp;&nbsp; 48606 | &nbsp;&nbsp; $1727947 |
| DFA International Core Equity Portfolio Institutional | &nbsp;&nbsp; 265493 | &nbsp;&nbsp; 5177113 |
| PIMCO Low Duration Institutional | &nbsp;&nbsp; 2205696 | &nbsp;&nbsp; 20623260 |
| PIMCO Total Return Institutional | &nbsp;&nbsp; 3316659 | &nbsp;&nbsp; 29219763 |
| Vanguard International Growth Fund Admiral Class | &nbsp;&nbsp; 13902 | &nbsp;&nbsp; 1712691 |
| **Total Open-End Mutual Funds** |  | &nbsp;&nbsp; $58460774 |
| **Total Investments in Securities of Unaffiliated Issuers – 34.1% (Cost $58,415,504)** |  | &nbsp;&nbsp; $58460774 |
| **Total Investments in Affiliates – 66.0% (Cost $107,455,264) (see schedule below)** |  | &nbsp;&nbsp; 113037585 |
| **Liabilities in Excess of Other Assets – (0.1)%** |  | &nbsp;&nbsp; (86391)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $171411968 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

The accompanying notes are an integral part of these financial statements.

**Schedule of Investments in Affiliates**

**September 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliate** | **Value at**<br> **January 1, 2025**<br>| **Cost of**<br> **Purchases**<br>| **Proceeds**<br> **from Sales**<br>| **Net Realized**<br> **Gain (Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Income**<br> **Distributions**<br>| **Capital Gain**<br> **Distributions**<br>| **Shares at**<br> **September 30,**<br> **2025**<br>| **Value at**<br> **September 30,**<br> **2025**<br>|
| **Open-End Mutual Funds – 66.0%** |  |  |  |  |  |  |  |  |  |
| AVIP AB Mid Cap Core Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | $1792132 | $211951 | $339556 | $76403 | $(28239)<br>| $6709 | $39955 | 50108 | $1712691 |
| AVIP AB Relative Value Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 1792132 | 222307 | 282903 | 60826 | (79671)<br>| 20943 | 127214 | 141662 | 1712691 |
| AVIP AB Small Cap Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 1792132 | 236859 | 374890 | 73073 | (14483)<br>| 1153 |  | 117630 | 1712691 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage International Equity <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 7168529 | 541535 | 2437110 | 156203 | 1421606 | 150921 | 39557 | 346523 | 6850763 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Core <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 3584265 | 743352 | 849499 | 55348 | (108085)<br>| 22809 | 523700 | 90213 | 3425381 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Value <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 5376397 | 805093 | 943859 | (41197)<br>| (58362)<br>| 74403 | 633423 | 264304 | 5138072 |
| AVIP Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 17921324 | 895872 | 2226377 | (196676)<br>| 732764 | 615568 |  | 991714 | 17126907 |
| AVIP Federated Core Plus Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 26881985 | 1750741 | 3380656 | (310347)<br>| 748637 | 1000205 |  | 2826222 | 25690360 |
| AVIP Federated High Income Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 10752794 | 775354 | 1339120 | 19854 | 67262 | 583181 |  | 534103 | 10276144 |
| AVIP Nasdaq-100<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 1792132 | 492209 | 558979 | 154412 | (167083)<br>| 7067 | 293814 | 99229 | 1712691 |
| AVIP S&P 500<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 25089853 | 4497368 | 5725427 | 580568 | (464693)<br>| 245585 | 2934665 | 541135 | 23977669 |
| AVIP S&P MidCap 400<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 14337059 | 2771813 | 2625270 | 465956 | (1248033)<br>| 150398 | 1382811 | 660633 | 13701525 |
| **Total Open-End Mutual Funds** |  |  |  | $1094423 | $801620 | $2878942 | $5975139 |  | $113037585 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Pursuant to Section 2(a)(3) of the Investment Company Act of 1940, the investment meets the definition of "affiliated person", as the Portfolio directly or indirectly <br> owns, controls, or holds with power to vote 5 percent or more of the outstanding voting securities of the holding at September 30, 2025.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Balanced Model Portfolio**

**Schedule of Investments in Unaffiliated Issuers**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Open-End Mutual Funds–29.1%** | **Shares** | **Value** |
| DFA Emerging Markets Portfolio Institutional | &nbsp;&nbsp; 392112 | &nbsp;&nbsp; $13939572 |
| DFA International Core Equity Portfolio Institutional | &nbsp;&nbsp; 1784890 | &nbsp;&nbsp; 34805353 |
| PIMCO Low Duration Institutional | &nbsp;&nbsp; 5931488 | &nbsp;&nbsp; 55459413 |
| PIMCO Total Return Institutional | &nbsp;&nbsp; 9443640 | &nbsp;&nbsp; 83198472 |
| Vanguard International Growth Fund Admiral Class | &nbsp;&nbsp; 112152 | &nbsp;&nbsp; 13817109 |
| **Total Open-End Mutual Funds** |  | &nbsp;&nbsp; $201219919 |
| **Total Investments in Securities of Unaffiliated Issuers – 29.1% (Cost $191,354,159)** |  | &nbsp;&nbsp; $201219919 |
| **Total Investments in Affiliates – 70.9% (Cost $447,452,298) (see schedule below)** |  | &nbsp;&nbsp; 490507359 |
| **Liabilities in Excess of Other Assets – 0.0%** |  | &nbsp;&nbsp; (260889)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $691466389 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

The accompanying notes are an integral part of these financial statements.

**Schedule of Investments in Affiliates**

**September 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliate** | **Value at**<br> **January 1, 2025**<br>| **Cost of**<br> **Purchases**<br>| **Proceeds**<br> **from Sales**<br>| **Net Realized**<br> **Gain (Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Income**<br> **Distributions**<br>| **Capital Gain**<br> **Distributions**<br>| **Shares at**<br> **September 30,**<br> **2025**<br>| **Value at**<br> **September 30,**<br> **2025**<br>|
| **Open-End Mutual Funds – 70.9%** |  |  |  |  |  |  |  |  |  |
| AVIP AB Mid Cap Core Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | $7128644 | $673819 | $1085392 | $(208933)<br>| $400416 | $27072 | $161232 | 202123 | $6908554 |
| AVIP AB Relative Value Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 28514574 | 3277999 | 3844170 | 774159 | (1088345)<br>| 338469 | 2055905 | 2285709 | 27634217 |
| AVIP AB Small Cap Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 7128644 | 776066 | 1231689 | 240432 | (4899)<br>| 4644 |  | 474488 | 6908554 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage International Equity <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 49900505 | 2759082 | 15269500 | 3057186 | 7912608 | 1064824 | 279093 | 2446124 | 48359881 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Core <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 14257287 | 2589476 | 2798157 | 704535 | (936032)<br>| 91933 | 2110795 | 363895 | 13817109 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 7128644 | 2561601 | 2003187 | 727907 | (1506411)<br>| 2952 | 1951088 | 752566 | 6908554 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Value <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 28514574 | 4167378 | 4494499 | (375425)<br>| (177811)<br>| 400304 | 3407956 | 1421513 | 27634217 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Small Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 14257287 | 1819763 | 3382116 | (754178)<br>| 1876353 | 3514 | 514709 | 521794 | 13817109 |
| AVIP Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 49900505 | 3351900 | 6385344 | (488424)<br>| 1981244 | 1737459 |  | 2800225 | 48359881 |
| AVIP Federated Core Plus Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 71286436 | 5789363 | 9153054 | (827164)<br>| 1989963 | 2687756 |  | 7600170 | 69085544 |
| AVIP Federated High Income Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 28514574 | 2199484 | 3296202 | 180219 | 36142 | 1571615 |  | 1436290 | 27634217 |
| AVIP Nasdaq-100<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 7128644 | 1780300 | 1931744 | 469746 | (538392)<br>| 28479 | 1184076 | 400264 | 6908554 |
| AVIP S&P 500<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 114058297 | 17303293 | 21197863 | 6652253 | (6279110)<br>| 1132312 | 13530785 | 2494626 | 110536870 |
| AVIP S&P MidCap 400<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 78415079 | 13572528 | 11623042 | 4556230 | (8926697)<br>| 835276 | 7679813 | 3664132 | 75994098 |
| **Total Open-End Mutual Funds** |  |  |  | $14708543 | $(5260971)<br>| $9926609 | $32875452 |  | $490507359 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Pursuant to Section 2(a)(3) of the Investment Company Act of 1940, the investment meets the definition of "affiliated person", as the Portfolio directly or indirectly <br> owns, controls, or holds with power to vote 5 percent or more of the outstanding voting securities of the holding at September 30, 2025.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Moderate Growth Model Portfolio**

**Schedule of Investments in Unaffiliated Issuers**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Open-End Mutual Funds–21.1%** | **Shares** | **Value** |
| DFA Emerging Markets Portfolio Institutional | &nbsp;&nbsp; 796616 | &nbsp;&nbsp; $28319692 |
| DFA International Core Equity Portfolio Institutional | &nbsp;&nbsp; 5076440 | &nbsp;&nbsp; 98990571 |
| PIMCO Low Duration Institutional | &nbsp;&nbsp; 4518670 | &nbsp;&nbsp; 42249565 |
| PIMCO Total Return Institutional | &nbsp;&nbsp; 11191173 | &nbsp;&nbsp; 98594238 |
| Vanguard International Growth Fund Admiral Class | &nbsp;&nbsp; 227841 | &nbsp;&nbsp; 28069987 |
| **Total Open-End Mutual Funds** |  | &nbsp;&nbsp; $296224053 |
| **Total Investments in Securities of Unaffiliated Issuers – 21.1% (Cost $258,062,845)** |  | &nbsp;&nbsp; $296224053 |
| **Total Investments in Affiliates – 78.9% (Cost $985,558,245) (see schedule below)** |  | &nbsp;&nbsp; 1108764474 |
| **Liabilities in Excess of Other Assets – 0.0%** |  | &nbsp;&nbsp; (494596)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $1404493931 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

The accompanying notes are an integral part of these financial statements.

**Schedule of Investments in Affiliates**

**September 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliate** | **Value at**<br> **January 1, 2025**<br>| **Cost of**<br> **Purchases**<br>| **Proceeds**<br> **from Sales**<br>| **Net Realized**<br> **Gain (Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Income**<br> **Distributions**<br>| **Capital Gain**<br> **Distributions**<br>| **Shares at**<br> **September 30,**<br> **2025**<br>| **Value at**<br> **September 30,**<br> **2025**<br>|
| **Open-End Mutual Funds – 78.9%** |  |  |  |  |  |  |  |  |  |
| AVIP AB Mid Cap Core Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | $13984257 | $1336555 | $1660033 | $(562674)<br>| $936888 | $54697 | $325752 | 410620 | $14034993 |
| AVIP AB Relative Value Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 69921285 | 8526770 | 7407938 | 1333753 | (2198903)<br>| 852640 | 5179052 | 5804381 | 70174967 |
| AVIP AB Small Cap Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 27968514 | 3040430 | 3891414 | 758939 | 193518 | 18771 |  | 1927884 | 28069987 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage International Equity <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 111874055 | 6085035 | 30415997 | 4601686 | 20135168 | 2468370 | 646966 | 5679309 | 112279947 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Core <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 55937028 | 10050110 | 8781766 | 2099202 | (3164601)<br>| 373184 | 8568337 | 1478535 | 56139973 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 27968514 | 10163464 | 6793458 | 2196725 | (5465258)<br>| 12019 | 7944844 | 3057733 | 28069987 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Value <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 83905541 | 12403162 | 10283576 | (864210)<br>| (950957)<br>| 1213989 | 10335195 | 4331788 | 84209960 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Small Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 41952771 | 5254566 | 8466207 | (4589017)<br>| 7952867 | 10673 | 1563108 | 1590067 | 42104980 |
| AVIP Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 69921285 | 7337583 | 9162980 | (1243404)<br>| 3322483 | 2514429 |  | 4063403 | 70174967 |
| AVIP Federated Core Plus Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 97889798 | 11730872 | 12935250 | (1181090)<br>| 2740623 | 3808497 |  | 10808026 | 98244953 |
| AVIP Federated High Income Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 27968514 | 3116158 | 3197214 | 121483 | 61046 | 1585474 |  | 1458939 | 28069987 |
| AVIP Nasdaq-100<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 27968514 | 6972420 | 6495829 | 1546080 | (1921198)<br>| 115873 | 4817673 | 1626303 | 28069987 |
| AVIP S&P 500<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 265700881 | 39431232 | 38791660 | 14131610 | (13807190)<br>| 2727446 | 32592157 | 6018165 | 266664873 |
| AVIP S&P MidCap 400<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 181795340 | 32197869 | 21006702 | 4230134 | (14761728)<br>| 1991314 | 18308826 | 8797247 | 182454913 |
| **Total Open-End Mutual Funds** |  |  |  | $22579217 | $(6927242)<br>| $17747376 | $90281910 |  | $1108764474 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Pursuant to Section 2(a)(3) of the Investment Company Act of 1940, the investment meets the definition of "affiliated person", as the Portfolio directly or indirectly <br> owns, controls, or holds with power to vote 5 percent or more of the outstanding voting securities of the holding at September 30, 2025.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**AVIP Growth Model Portfolio**

**Schedule of Investments in Unaffiliated Issuers**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Open-End Mutual Funds–17.1%** | **Shares** | **Value** |
| DFA Emerging Markets Portfolio Institutional | &nbsp;&nbsp; 296379 | &nbsp;&nbsp; $10536265 |
| DFA International Core Equity Portfolio Institutional | &nbsp;&nbsp; 1618776 | &nbsp;&nbsp; 31566137 |
| PIMCO Low Duration Institutional | &nbsp;&nbsp; 373566 | &nbsp;&nbsp; 3492841 |
| PIMCO Total Return Institutional | &nbsp;&nbsp; 793024 | &nbsp;&nbsp; 6986537 |
| Vanguard International Growth Fund Admiral Class | &nbsp;&nbsp; 56509 | &nbsp;&nbsp; 6961939 |
| **Total Open-End Mutual Funds** |  | &nbsp;&nbsp; $59543719 |
| **Total Investments in Securities of Unaffiliated Issuers – 17.1% (Cost $47,830,798)** |  | &nbsp;&nbsp; $59543719 |
| **Total Investments in Affiliates – 82.9% (Cost $252,639,258) (see schedule below)** |  | &nbsp;&nbsp; 288920475 |
| **Liabilities in Excess of Other Assets – 0.0%** |  | &nbsp;&nbsp; (142119)<br>|
| **Net Assets – 100.0%** | **Net Assets – 100.0%** | &nbsp;&nbsp; $348322075 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

The accompanying notes are an integral part of these financial statements.

**Schedule of Investments in Affiliates**

**September 30, 2025 (Unaudited)** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Affiliate** | **Value at**<br> **January 1, 2025**<br>| **Cost of**<br> **Purchases**<br>| **Proceeds**<br> **from Sales**<br>| **Net Realized**<br> **Gain (Loss)**<br>| **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)**<br>| **Income**<br> **Distributions**<br>| **Capital Gain**<br> **Distributions**<br>| **Shares at**<br> **September 30,**<br> **2025**<br>| **Value at**<br> **September 30,**<br> **2025**<br>|
| **Open-End Mutual Funds – 82.9%** |  |  |  |  |  |  |  |  |  |
| AVIP AB Mid Cap Core Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | $3403015 | $355406 | $368770 | $(119123)<br>| $210442 | $13503 | $80419 | 101842 | $3480970 |
| AVIP AB Relative Value Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 20418087 | 2765817 | 2031299 | 437257 | (704045)<br>| 252629 | 1534505 | 1727528 | 20885817 |
| AVIP AB Small Cap Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 10209044 | 1117153 | 1235235 | 240856 | 111091 | 6967 |  | 717233 | 10442909 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage International Equity <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 37433160 | 2296242 | 9726881 | 1438952 | 6849192 | 840354 | 220259 | 1936806 | 38290665 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Core <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 20418087 | 3608739 | 2712492 | 657106 | (1085623)<br>| 138284 | 3174998 | 550061 | 20885817 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 6806029 | 2495663 | 1512731 | 486274 | (1313296)<br>| 2976 | 1967209 | 758381 | 6961939 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap Value <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 23821102 | 3648212 | 2563265 | 638684 | (1177946)<br>| 349128 | 2972275 | 1253436 | 24366787 |
| &nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Small Cap Growth <br> Portfolio<br>&nbsp;&nbsp;&nbsp; (a) | 13612058 | 1757985 | 2544113 | (1535665)<br>| 2633613 | 3528 | 516699 | 525826 | 13923878 |
| AVIP Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 6806029 | 981648 | 1028567 | (70179)<br>| 273008 | 248073 |  | 403123 | 6961939 |
| AVIP Federated Core Plus Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 10209044 | 1627215 | 1556409 | (48060)<br>| 211119 | 402377 |  | 1148835 | 10442909 |
| AVIP Federated High Income Bond Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 3403015 | 493499 | 435679 | (21088)<br>| 41223 | 195351 |  | 180924 | 3480970 |
| AVIP Nasdaq-100<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 10209044 | 2564921 | 2169009 | 319222 | (481269)<br>| 42967 | 1786465 | 605035 | 10442909 |
| AVIP S&P 500<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 64657276 | 9358033 | 7858049 | 2564305 | (2583143)<br>| 673493 | 8048043 | 1492630 | 66138422 |
| AVIP S&P MidCap 400<sup>®</sup> Index Portfolio<br> &nbsp;&nbsp;&nbsp; (a) | 51045218 | 9651061 | 5463000 | 1115872 | (4134607)<br>| 568195 | 5224180 | 2517577 | 52214544 |
| **Total Open-End Mutual Funds** |  |  |  | $6104413 | $(1150241)<br>| $3737825 | $25525052 |  | $288920475 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<br>Percentages are stated as a percent of net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Footnotes: | Footnotes: |
| &nbsp;&nbsp;&nbsp;&nbsp; (a) | Pursuant to Section 2(a)(3) of the Investment Company Act of 1940, the investment meets the definition of "affiliated person", as the Portfolio directly or indirectly <br> owns, controls, or holds with power to vote 5 percent or more of the outstanding voting securities of the holding at September 30, 2025.<br>|

---

The accompanying notes are an integral part of these financial statements. <br>

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(1)Organization**

AuguStar Variable Insurance Products Fund, Inc. (the "Fund") is a Maryland corporation registered under the Investment Company Act of 1940, as amended (the "40 Act"). The Fund is an open-end investment company and follows accounting and reporting guidance under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946, "Financial Services-Investment Companies". The Fund consists of twenty-five separate investment portfolios (the "Portfolios").

The AVIP Constellation Managed Risk Balanced Portfolio, AVIP Constellation Managed Risk Moderate Growth Portfolio, and AVIP Constellation Managed Risk Growth Portfolio are collectively referred to as the "AVIP Constellation Managed Risk Portfolios". The AVIP Moderately Conservative Model Portfolio, AVIP Balanced Model Portfolio, AVIP Moderate Growth Model Portfolio, and AVIP Growth Model Portfolio are collectively referred to as the "AVIP Model Portfolios". Each of the Constellation Managed Risk Portfolios and AVIP Model Portfolios, as well as the AVIP Constellation Dynamic Risk Balanced Portfolio, is a "Fund of Funds", which means each Portfolio significantly invests in other open-end mutual funds or exchange traded funds ("ETFs"). Those underlying mutual funds or ETFs invest in stocks, bonds, and other securities that are consistently recorded at fair value, but involve varying amounts of potential investment risk and reward. The portfolio management team of each of those Portfolios periodically adjusts the investment allocation to allow each of those Portfolios to achieve its investment objective. Additional information about the underlying fund holdings is available at www.sec.gov.

Details regarding Portfolio-specific objectives, policies, and investment strategies are provided in the Portfolios' Prospectuses and Statements of Additional Information. There are no assurances that these objectives will be met. Each Portfolio, except the AVIP Nasdaq-100<sup>®</sup> Index Portfolio, is classified as diversified for purposes of Section 5(b) of the 40 Act.

The Fund issues its shares to separate accounts of AuguStar Life Insurance Company ("ALIC"), AuguStar Life Assurance Corporation ("ALAC"), and National Security Life and Annuity Company ("NSLA") to support certain benefits under variable contracts issued by those entities, as well as for purchases by other Portfolios of the Fund. In the future, Fund shares may be used for other purposes but, unless there is a change in applicable law, they will not be sold directly to the public.

ALIC and NSLA, at present, do not market or issue variable annuities. ALIC and NSLA will continue to service the in-force variable annuity contracts, the variable separate accounts, and underlying subaccounts regardless of new sales.

Interest in each Portfolio is represented by a separate class of the Fund's capital stock, par value $1. Each share of a Portfolio participates equally in the Portfolio's dividends, distributions, net assets, and voting matters.

The Fund is authorized to issue 1.55 billion of its capital shares. Of this total, shares authorized have been allocated to specific Portfolios of the Fund as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio** | **Authorized Shares** | **Portfolio** | **Authorized Shares** |
| AVIP Bond | 22000000 | AVIP BlackRock Advantage Large Cap Growth | 82000000 |
| AVIP BlackRock Balanced Allocation | 20000000 | AVIP Constellation Dynamic Risk Balanced | 170000000 |
| AVIP BlackRock Advantage International Equity | 35000000 | AVIP Federated Core Plus Bond | 115000000 |
| AVIP Fidelity Institutional AM<sup>®</sup> Equity Growth | 134000000 | AVIP Intech U.S. Low Volatility | 105000000 |
| AVIP AB Small Cap | 17000000 | AVIP AB Relative Value | 20000000 |
| AVIP AB Mid Cap Core | 6000000 | AVIP Constellation Managed Risk Balanced | 123000000 |
| AVIP S&P 500<sup>®</sup> Index | 50000000 | AVIP Constellation Managed Risk Moderate Growth | 70000000 |
| AVIP BlackRock Advantage Large Cap Value | 21000000 | AVIP Constellation Managed Risk Growth | 65000000 |
| AVIP Federated High Income Bond | 13000000 | AVIP Moderately Conservative Model | 28000000 |
| AVIP Nasdaq-100<sup>®</sup> Index | 27000000 | AVIP Balanced Model | 107000000 |
| AVIP BlackRock Advantage Large Cap Core | 19000000 | AVIP Moderate Growth Model | 200000000 |
| AVIP BlackRock Advantage Small Cap Growth | 12000000 | AVIP Growth Model | 48000000 |
| AVIP S&P MidCap 400<sup>®</sup> Index | 41000000 |  |  |

---

The Fund's Board of Directors (the "Board") periodically reallocates authorized shares among the Portfolios of the Fund and may authorize additional shares as deemed necessary.

Under the Fund's organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, in the normal course of business, the Fund enters into contracts with its vendors and others that provide for general indemnifications. The Fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund. However, based on experience, the risk of loss to the Fund is expected to be remote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**(2)Significant Accounting Policies**

The following is a summary of significant accounting policies followed by the Fund in preparation of its financial statements:

**Use of Estimates**

The preparation of financial statements, in conformity with U.S. generally accepted accounting principles ("U.S. GAAP"), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Cash Balance Credit Risk**

The Fund may place portions of its uninvested cash with financial institutions in the United States, which are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $250,000 for each account holder. The Fund may be subject to credit risk to the extent amounts on deposit are in excess of the insured limits.

**Security Valuation and Fair Value Measurement**

The Board has adopted policies for the valuation of the Fund's securities, which include guidelines for valuation when active market quotations are not readily available. The Board has designated authority to the Fund's adviser, Constellation Investments, Inc. ("CINV") to apply those guidelines in the determination of fair value, subject to oversight by the Board.

The Portfolios are valued each day the New York Stock Exchange ("NYSE") is open for unrestricted trading. The Portfolios' investments are valued as follows:

Domestic equity securities that are traded on U.S. exchanges, other than the Nasdaq Stock Market, are valued at the last trade price reported by the primary exchange of each security (4:00 pm Eastern Time for normal trading sessions). Domestic equity securities that are listed on the Nasdaq Stock Market are valued at the Nasdaq Official Closing Price ("NOCP"). Over-the-counter domestic equity securities are valued at the last trade price reported daily as of 4:00 pm Eastern Time (normal trading sessions). If, on a particular day, a domestic equity security does not trade, or otherwise cannot be priced by independent pricing services, then a broker quotation as of the end of the current trading session, the evaluated mean between the bid and ask prices, as reported by an approved independent pricing source, or a previous last trade price may be used when appropriate.

Over-the-counter traded American Depositary Receipts ("ADRs") may also be valued at an evaluated price based on the value of the underlying securities. If an underlying equity security is not traded on a particular day, the mean between the bid and ask prices reported at 4:00 pm Eastern Time (normal trading sessions) by the primary exchange will generally be used for valuation purposes. The principal sources for market quotations are independent pricing services that have been approved by the Board or its designee.

Futures contracts are valued at the daily quoted settlement prices as reported by an approved independent pricing source.

Swap contracts are valued on the basis of evaluations as of 4:00 pm Eastern Time that are provided by an approved independent pricing source. Evaluations are based on methodologies that consider market observable inputs such as interest rates, payment frequencies, and maturities.

Shares of open-end mutual funds are valued at each fund's last calculated net asset value per share.

Shares of closed-end mutual funds that are traded on U.S. exchanges are valued similarly to other domestic equity securities, typically at the last trade price reported by the primary exchange of each fund (4:00 pm Eastern Time for normal trading sessions).

Foreign equity securities are initially priced at the reported close price of the exchange on which a security is primarily traded. Securities not traded on a particular day are valued at the mean between the last reported bid and ask quotes at daily close, or the last sale price when appropriate. The principal sources for market quotations are independent pricing services that have been approved by the Board or its designee.

Equity securities that are primarily traded on foreign exchanges, other than those with close times that are consistent with the normal 4:00 pm Eastern Time close of U.S. equity markets, are further subjected to fair valuation pricing procedures provided by an independent fair valuation service. The service provides data that can be used to estimate the price of a foreign issue that would prevail in a liquid market given market information available at 4:00 pm Eastern Time (normal trading sessions) each day that the NYSE is open for trading and net asset values are calculated for the Portfolios. Multiple factors may be considered in performing this valuation, including U.S. intraday market and sector returns, currency valuations, and pricing of related depository receipts,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

exchange traded funds, and futures. Backtesting analysis is performed on a quarterly basis to monitor the effectiveness of these procedures. The testing is reviewed by management of the Fund and the results of testing are reported to the Board. Prior results have indicated that these procedures have been effective in reaching pre-determined valuation objectives.

Fixed income securities that have a remaining maturity exceeding sixty days are generally valued at the evaluated bid price reported at 4:00 pm Eastern Time (normal trading sessions), as provided by independent pricing services approved by the Board or its designee. Many fixed income securities, including investment grade and high-yield corporate bonds, U.S. Treasury and government agency obligations, and other asset-backed instruments are not actively traded on a daily basis. As such, the approved pricing services may use asset type-specific valuation models to provide good faith determinations of value that the holders of securities would receive in an orderly transaction under current market conditions. The valuation models may use observable market data such as recent transaction data, benchmark yields, broker/dealer inputs, valuations and yields of comparable instruments, relative credit information, observed market movements, and market research and news.

Asset-backed securities and mortgage-backed securities may use valuation models that heavily consider predicted cash flows of each tranche of an issue, benchmark spreads, and unique attributes of the tranche. The last trade or last evaluated bid may be used if an evaluated bid price is not available.

Fixed income instruments that mature in sixty days or less, and of sufficient credit quality, are valued at amortized cost. Amortized cost valuation involves valuing a security at its cost initially and thereafter amortizing to maturity any discounts or premiums on the level-yield method, regardless of the impact of fluctuating market interest rates on the value of the security. In these instances, amortized cost approximates fair value.

Restricted securities, illiquid securities, or other investments for which market quotations or other observable market inputs are not readily available are valued using methods determined in good faith by CINV's Pricing Committee, which is subjected to oversight by the Board.

U.S exchange-traded options are valued at the composite basis last sale price as reported to a Board-approved independent pricing service by the Options Price Reporting Authority ("OPRA"). If there are no reported trades for a trading session, the evaluated composite-basis bid price or other method will be used for valuation purposes.

The differences between the aggregate cost and values of investments are reflected as unrealized appreciation or unrealized depreciation.

Pricing inputs used in the determination of investment values are categorized according to a three-tier hierarchy framework. The hierarchy is summarized in three broad levels:

Level 1: Quoted prices in active markets for identical securities.

Level 2: Other significant observable inputs, including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.

Level 3: Significant unobservable inputs, including the Fund's own assumptions used to determine the value of securities.

The following is a summary of the inputs used in valuing each of the Portfolio's assets (liabilities) at value as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Financial Instrument Type** | **Level 1** | **Level 2** | **Level 3** |
| AVIP Bond | Corporate Bonds\*\*\* | $— | $229789356 | $— |
|  | Asset-Backed Securities\*\*\* |  | 6539140 |  |
|  | U.S. Treasury Obligations |  | 5405187 |  |
|  | Preferred Securities\*\*\* |  | 3421866 |  |
|  |  | $— | $245155549 | $— |
|  | Long Futures Contracts | $(20202)<br>| $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Financial Instrument Type** | **Level 1** | **Level 2** | **Level 3** |
| AVIP BlackRock Balanced Allocation | Common Stocks\*\*\* | $269775203 | $— | $— |
|  | Corporate Bonds\*\*\* |  | 98938515 |  |
|  | Asset-Backed Securities\*\*\* |  | 2553656 |  |
|  | U.S. Treasury Obligations |  | 2543570 |  |
|  | Preferred Securities\*\*\* |  | 1611196 |  |
|  |  | $269775203 | $105646937 | $— |
|  | Long Futures Contracts | $9412 | $— | $— |
|  | Short Futures Contracts | $1995 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage International <br> Equity<br>| Common Stocks\*\*\* | $238983 | $348707260 | $— |
|  | Preferred Securities\*\*\* |  | 1397451 |  |
|  |  | $238983 | $350104711 | $— |
|  | Long Futures Contracts | $(12243)<br>| $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP Fidelity Institutional AM<sup>®</sup> Equity <br> Growth <br>| Common Stocks\*\*\* | $118041976 | $6389130 | $— |
|  | Rights\*\*\* |  | 183 |  |
|  |  | $118041976 | $6389313 | $— |
| AVIP AB Small Cap | Common Stocks\*\*\* | $108082477 | $— | $— |
|  | Exchange Traded Funds | 327020 |  |  |
|  |  | $108409497 | $— | $— |
| AVIP AB Mid Cap Core | Common Stocks\*\*\* | $73863165 | $— | $— |
|  | Exchange Traded Funds | 246878 |  |  |
|  |  | $74110043 | $— | $— |
| AVIP S&P 500<sup>®</sup> Index | Common Stocks\*\*\* | $1202397627 | $— | $— |
|  | U.S. Treasury Obligations |  | 416989 |  |
|  |  | $1202397627 | $416989 | $— |
|  | Long Futures Contracts | $18769 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap <br> Value<br>| Common Stocks\*\*\* | $190162098 | $— | $— |
|  | Long Futures Contracts | $32496 | $— | $— |
| AVIP Federated High Income Bond | Corporate Bonds\*\*\* | $— | $118598176 | $— |
|  | Common Stocks\*\*\* |  | 10118 |  |
|  |  | $— | $118608294 | $— |
| AVIP Nasdaq-100<sup>®</sup> Index | Common Stocks\*\*\* | $272328039 | $— | $— |
|  | U.S. Treasury Obligations |  | 84592 |  |
|  |  | $272328039 | $84592 | $— |
|  | Long Futures Contracts | $13244 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap <br> Core<br>| Common Stocks\*\*\* | $333774134 | $— | $— |
|  | Long Futures Contracts | $27854 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Financial Instrument Type** | **Level 1** | **Level 2** | **Level 3** |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Small Cap <br> Growth<br>| Common Stocks\*\*\* | $132092037 | $— | $— |
|  | Rights\*\*\* |  | 7727 |  |
|  |  | $132092037 | $7727 | $— |
|  | Long Futures Contracts | $16330 | $— | $— |
| AVIP S&P MidCap 400<sup>®</sup> Index | Common Stocks\*\*\* | $532301456 | $— | $— |
|  | U.S. Treasury Obligations |  | 202026 |  |
|  |  | $532301456 | $202026 | $— |
|  | Long Futures Contracts | $(29542)<br>| $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP BlackRock Advantage Large Cap <br> Growth<br>| Common Stocks\*\*\* | $471372300 | $— | $— |
|  | Long Futures Contracts | $21055 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP Constellation Dynamic Risk <br> Balanced<br>| Exchange Traded Funds | $811573782 | $— | $— |
|  | U.S. Treasury Obligations |  | 179543367 |  |
|  | Corporate Bonds\*\*\* |  | 145331889 |  |
|  | &nbsp;&nbsp; Asset-Backed / Mortgage-Backed <br> Securities\*\*\*<br>|  | 30960849 |  |
|  | Preferred Securities\*\*\* |  | 4051106 |  |
|  | Rights\*\*\* |  | 4444 |  |
|  |  | $811573782 | $359891655 | $— |
|  | Long Futures Contracts | $990785 | $— | $— |
| AVIP Federated Core Plus Bond | U.S. Treasury Obligations | $— | $229760322 | $— |
|  | Corporate Bonds\*\*\* |  | 120471085 |  |
|  | &nbsp;&nbsp; U.S. Government Agency Mortgage-Backed <br> Securities<br>|  | 107683580 |  |
|  | Investment Companies | 44730153 |  |  |
|  | &nbsp;&nbsp; Asset-Backed / Mortgage-Backed <br> Securities\*\*\*<br>|  | 11454953 |  |
|  | Sovereign Debt Issues |  | 1420112 |  |
|  | Common Stocks\*\*\* |  | 2170 |  |
|  |  | $44730153 | $470792222 | $— |
|  | Long Futures Contracts | $147178 | $— | $— |
|  | Short Futures Contracts | $(131450)<br>| $— | $— |
| AVIP Intech U.S. Low Volatility | Common Stocks\*\*\* | $579362350 | $— | $— |
| AVIP AB Relative Value | Common Stocks\*\*\* | $116164436 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP Constellation Managed Risk <br> Balanced<br>| Exchange Traded Funds | $493861956 | $— | $— |
|  | Long Futures Contracts | $99595 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; AVIP Constellation Managed Risk <br> Moderate Growth<br>| Exchange Traded Funds | $446631999 | $— | $— |
|  | Long Futures Contracts | $187285 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Portfolio** | **Financial Instrument Type** | **Level 1** | **Level 2** | **Level 3** |
| AVIP Constellation Managed Risk Growth | Exchange Traded Funds | $388003134 | $— | $— |
|  | Long Futures Contracts | $215900 | $— | $— |
| AVIP Moderately Conservative Model | Open-End Mutual Funds | $171498359 | $— | $— |
| AVIP Balanced Model | Open-End Mutual Funds | $691727278 | $— | $— |
| AVIP Moderate Growth Model | Open-End Mutual Funds | $1404988527 | $— | $— |
| AVIP Growth Model | Open-End Mutual Funds | $348464194 | $— | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\*\*\* Each of the Portfolio's Schedule of Investments includes detailed industry descriptions.

**Foreign Securities and Currency**

The books and records of the Portfolios are maintained in U.S. dollars. All investments and cash quoted in foreign currencies are valued daily in U.S. dollars on the basis of the foreign currency exchange rates provided by an independent source. These exchange rates are determined daily at 4:00 pm Eastern Time for normal trading sessions. Purchases and sales of foreign-denominated investments are recorded at rates of exchange prevailing on the respective dates of such transactions.

The Fund may not fully isolate the portion of the results of operations resulting from changes in foreign exchange rates from fluctuations arising from changes in market prices on foreign currency-denominated investments. For the portion that is isolated, amounts are reflected in the Statements of Operations as other foreign currency related transactions. However, for tax purposes, the Fund does fully isolate the effect of fluctuations in foreign exchange rates when determining the gain or loss upon sale or maturity of such investments to the extent required by federal income tax regulations.

All Portfolios of the Fund may invest in securities of foreign issuers. The AVIP BlackRock Advantage International Equity Portfolio may be invested entirely in foreign securities. Investments in securities of foreign issuers, including investments in foreign companies through the use of depositary receipts, carry certain risks not ordinarily associated with investments in securities of domestic issuers. Such risks include future political and economic developments, and the possible imposition of exchange controls or other foreign governmental laws and restrictions. In addition, with respect to certain countries, there is the possibility of expropriation of assets, confiscatory taxation, political or social instability, or diplomatic developments that could adversely affect capital investment within those countries.

**Restricted Securities**

Restricted securities are typically those securities purchased through a private offering and cannot be resold to the general public without prior registration under the Securities Act of 1933 ("the 1933 Act") or pursuant to the resale limitations provided by Rule 144A under the 1933 Act, or an exemption from the registration requirements of the 1933 Act. 144A securities are issued by corporations without registration in reliance on 1933 Act provisions allowing for the private resale of unregistered securities to qualified institutional buyers. Section 4(a)(2) commercial paper is issued pursuant to Section 4(a)(2) of the 1933 Act which exempts an issue from registration. This paper may be used to finance non-current transactions, such as acquisitions, stock repurchase programs, and other long-term assets. Investments by a Portfolio in Rule 144A and Section 4(a)(2) securities could have the effect of decreasing the liquidity of a Portfolio during any period in which qualified institutional investors were no longer interested in purchasing these securities**.**

**Investment Transactions and Related Income**

For financial reporting purposes, investment transactions are accounted for on a trade date (T+0) basis. For purposes of executing separate account shareholder transactions in the normal course of business, however, the Fund's investment transactions are recorded no later than the first calculation on the first business day following the trade date (T+1), in accordance with Rule 2a-4 of the 40 Act. Accordingly, differences between the net asset values for financial reporting and for executing separate account shareholder transactions may arise. Net realized gain or loss on investments and foreign exchange transactions are determined using the specific identification method.

Dividend income is recognized on the ex-dividend date, except in the case of those Portfolios holding foreign securities, in which dividends are recorded as soon after the ex-dividend date as the Fund's information agents become aware of such dividends.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

Interest income is accrued daily as earned and includes the amortization of premium and accretion of discount using the interest method. The period of amortization or accretion extends from the purchase date to the maturity date, except for securities that are purchased at a premium and have explicit, noncontingent call features, whereby the securities are callable at fixed prices and on pre-determined dates. The premium amounts related to those securities are generally amortized to the earliest call date. Payments received for interest-only mortgage-backed securities are included in interest income. Because no principal is received at the maturity of an interest-only security, adjustments are made to the cost of the security until maturity. These adjustments are also included in interest income on the Statements of Operations.

**Distributions to Shareholders and Federal Taxes** 

The Fund may satisfy its distribution requirements, as required for each of the Portfolios to qualify as a regulated investment company pursuant to Subchapter M of the Internal Revenue Code by using consent dividends or cash distributions. Consent dividends, when authorized, become taxable to the Fund's shareholders as if they were paid in cash. The Fund has the intent to continue to comply with tax provisions pertaining to regulated investment companies and make distributions of taxable income sufficient to relieve it from substantially all federal income and excise taxes. As such, no provisions for federal income or excise taxes have been recorded. Also, no tax-related interest or penalties have been incurred or accrued. The Board's intent is that the Fund will not initiate any realized gain distributions until any applicable capital loss carryforwards have been offset.

The character of ordinary income distributions, realized capital gains distributions, and return of capital, if any, are determined in accordance with federal income tax regulations and may differ from net investment income and realized gains for financial reporting purposes. These "book/tax" differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, they are reclassified within the composition of net assets; temporary differences do not require such reclassification. Distributions to shareholders that exceed taxable income and net taxable realized gains are reported as return of capital distributions.

The Fund's management and its tax agent perform an affirmative evaluation of tax positions taken or expected to be taken in the course of preparing the Fund's tax returns to determine whether it is more-likely-than-not (i.e. greater than 50 percent) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Implementation of the evaluation included a review of tax positions taken in tax years that remain subject to examination by all major tax jurisdictions, including federal tax and the state of Maryland. The determination has been made that there are no uncertain tax positions that would require the Portfolios to record a tax liability or provision.

**Expense Allocation**

Expenses directly attributable to a Portfolio are charged to that Portfolio. Expenses that cannot be directly attributed to a Portfolio are allocated among all the benefited Portfolios on a basis of relative net assets or other appropriate method.

**Foreign Withholding Taxes**

Certain Portfolios in the Fund may be subject to taxes imposed by countries in which they invest with respect to their investments in issuers existing or operating in such countries. Such taxes are generally withheld based on income earned. These Portfolios accrue such taxes as the related income is earned.

**TBA Commitments**

To-Be-Announced ("TBA") commitments are agreements for the purchase or sale of mortgage-backed securities for a fixed price, with payment and delivery on an agreed upon future settlement date beyond the customary settlement period for such securities. The specific securities to be delivered are not identified at the trade date. However, delivered securities must meet specified terms, including issuer, rate and term, and be within industry-accepted "good delivery" standards. When entering into TBA commitments, a Portfolio may take possession of or deliver the underlying mortgage-backed securities but can extend the settlement or roll the transaction. TBA commitments involve a risk of loss if the value of the security to be purchased or sold decreases or increases, respectively, prior to settlement date.

**Transition of LIBOR-linked Reference Rates**

Certain Portfolios have fixed income instruments that transitioned from using reference rates that were directly or indirectly linked to a U.S. Dollar London Interbank Offered Rate ("LIBOR") setting to determine payment obligations, financing terms, or investment values. The Portfolios may also have fixed income instruments with current fixed rates in which future scheduled variable rates are derived from a LIBOR rate that has yet to be transitioned by the issuer to an alternative representative reference

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

rate. Not all instruments may have alternative rate-setting provisions and some uncertainty remains regarding the willingness and ability of issuers to add future alternative rate-setting provisions. Parties to instruments that utilized LIBOR rates may disagree on transition rates or the application of applicable transition regulation, potentially resulting in uncertainty that could impact future performance and valuation of affected instruments.

**Accounting Pronouncements and Regulations**

In December 2023, FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures ("ASU 2023-09"), which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. The ASU is effective for annual periods beginning after December 15, 2024. At this time, management is evaluating the implications of these changes on the financial statements.

**Subsequent Events**

Management has evaluated events and transactions through the date the financial statements were issued, for purposes of recognition or disclosure in these financial statements, and there are no subsequent events to report.

**(3)Financial Instruments**

The Portfolios may trade in financial instruments with off-balance sheet risk for hedging purposes or, otherwise, in accordance with stated investment objectives. These financial instruments may include swaps, options, futures, and foreign currency contracts that may involve, to a varying degree, elements of risk in excess of the amounts recognized on financial statements.

**Swap Contracts** 

Swap contracts are bilaterally negotiated agreements between a party and a counterparty to exchange or swap investment cash flows, assets, foreign currencies, or market-linked returns at specified, future intervals. Swap contracts may be either executed and centrally cleared with a centralized Derivatives Clearing Organization or privately negotiated in the OTC market. Certain Portfolios may engage in swap contracts to manage their respective exposure to various asset types or other market inputs such as interest rates.

Entering into swap contracts involves varying degrees of interest, credit, market, and documentation risk in excess of the unrealized gain or loss recorded by a Portfolio. Such risks include that there may be no liquid market, that the counterparty to the contracts may default on an obligation to perform or otherwise disagree as to the meaning of contractual terms in the agreement, or that there may be unfavorable changes in underlying terms, indices, or securities that severely impact the valuation of the swap contract. In connection with the terms of these contracts, a Portfolio's securities or cash may be identified as collateral or margin to provide assets of value and recourse in the event of default.

Swap contracts are marked-to-market daily, and the change in value is recorded as a change in unrealized appreciation (depreciation). Premiums paid or received at the beginning of the measurement period are recorded as an asset or liability and represent payments made or received upon entering into the swap contract to compensate for differences between the stated terms of the swap and prevailing market conditions relating to credit spreads, interest rates, currency exchange rates, and other relevant factors, as appropriate. These upfront payments are recorded as a realized gain or loss upon termination or maturity of the swap. A liquidation payment received or made at the termination of the swap contract is recorded as a realized gain or loss. Net periodic payments received or paid are included in the calculation of realized gain or loss.

Credit default swap contracts involve one party making a stream of payments (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified return if a credit event occurs for the referenced entity, obligation or index. As a seller of protection, a party will generally receive from the buyer of protection a premium in return for such protection and/or a fixed rate of income throughout the term of the swap if there is no credit event. As a buyer of protection, a party will generally pay the seller of protection a premium in return for such protection and/or a fixed rate of income throughout the term of the swap if there is no credit event.

A credit event is defined by the terms of each swap contract and may include, but is not limited to, underlying entity default, bankruptcy, restructuring, write-down, principal shortfall or interest shortfall. If a party is a seller or buyer of protection and a credit event occurs, as defined under the terms of that particular credit default swap contract, the party will either (i) pay or receive an amount equal to the notional amount of the referenced obligation agreement and take delivery or deliver the referenced obligation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

other deliverable obligations or underlying securities comprising the referenced index or (ii) pay or receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap contract less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

Either as a seller of protection or a buyer of protection of a credit default swap contract, a party's maximum risk of loss from counterparty risk is the fair value of the contract. The maximum potential amount a party could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs is limited to the total notional amount which is defined under the terms of each swap contract. The potential amounts of loss realized as a seller would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the contract or net amounts received from the settlement of buy protection credit default swap contracts entered into for the same referenced entity or entities.

A Portfolio may engage in credit default swap contracts on credit indices ("CDX"). A credit index is a basket of credit instruments or exposures designed to represent a portion of the credit market. These indices consist of reference credits that are considered to be the liquid entities in the credit default swap market based on the index sector. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset-backed securities and emerging market securities. These components can be determined based upon various credit ratings within each sector. Implied credit spreads, the prices, and resulting values for credit default swap contracts on credit indices serve as indicators of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. An index credit default swap references all the issuers in the index, and if there is a credit event, the credit event is settled based on that issuer's weight in the index. The composition of underlying indices may change periodically.

For the AVIP Constellation Dynamic Risk Balanced and AVIP Constellation Managed Risk Balanced Portfolios, swap contracts were used to execute those Portfolios' stated investment strategies.

**Futures Contracts**

A Portfolio may buy or sell futures contracts relating to stock indices, foreign currencies, or interest rates. Stock index futures contracts are contracts developed by and traded on national commodity exchanges whereby the buyer will, on a specified future date, pay or receive a final cash payment equal to the difference between the actual value of the stock index on the last day of the contract and the value of the stock index established by the contract multiplied by the specific dollar amount set by the exchange. Futures contracts may be based on broad-based stock indices such as the S&P 500<sup>®</sup> Index or on narrow-based stock indices. A particular index will be selected pursuant to the investment strategy for the particular Portfolio. Foreign currency futures contracts are contracts traded on commodity exchanges whereby the buyer will, on a specified future date, pay or receive a final cash payment equal to the difference between the value of a stated foreign currency in relation to the U.S. dollar, or other currency, on the last day of the contract and the relative value of those currencies on the date of executing the contract. Foreign currency futures may be valued by exchange rates that are based on the relative value of a variety of foreign currencies. An interest rate futures contract is an agreement whereby one party agrees to sell and another party agrees to purchase a specified amount of a specified financial instrument (debt security) at a specified price at a specified date, time and place. Although interest rate futures contracts typically require actual future delivery of and payment for financial instruments, the contracts are usually closed out before the delivery date. A public market exists in interest rate futures contracts covering primarily the following financial instruments: U.S. Treasury bonds; U.S. Treasury notes; Government National Mortgage Association ("GNMA") modified pass-through mortgage-backed securities; three-month U.S. Treasury bills; 90-day commercial paper; bank certificates of deposit; and Eurodollar certificates of deposit. U.S. futures contracts are traded on exchanges which have been designated "contract markets" by the Commodities Futures Trading Commission ("CFTC") and must be executed through a futures commission merchant ("FCM"), or brokerage firm, which is a member of the relevant contract market.

The Fund, on behalf of each Portfolio, has filed with the National Futures Association, a notice claiming an exclusion from the definition of the term "commodity pool operator" under the Commodity Exchange Act, as amended, and the rules of the CFTC promulgated thereunder, with respect to each Portfolio's operation. Accordingly, the Portfolios are not subject to registration or regulation as a commodity pool operator.

The buyer or seller of a futures contract is not required to deliver or pay for the underlying instrument unless the contract is held until the delivery date. However, both the buyer and seller are required to deposit "initial margin" for the benefit of the broker when the contract is entered into. Initial margin deposits are equal to a percentage of the contract's value, as set by the exchange on which the contract is traded, and are similar to good faith deposits or performance bonds.

Unlike margin extended by a securities broker, initial margin payments do not constitute purchasing securities on margin for purposes of a Portfolio's investment limitations. A Portfolio, its futures commission merchant and the Custodian retain control of the initial margin until the contract is liquidated. If the value of either party's position declines, the party on the side of the declining position will be required to make additional "variation margin" payments to settle the change in value on a daily basis. The party that

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

has a gain may be entitled to receive all or a portion of this amount. Variation margin is recognized as a receivable and/or payable for variation margin on futures contracts on the Statement of Assets and Liabilities. In the event of a bankruptcy of the FCM that holds margin on behalf of a Portfolio, the Portfolio may be entitled to return of margin owed to the Portfolio only in proportion to the amount received by the FCM's other customers. CINV and the sub-advisers will attempt to minimize this risk by carefully monitoring the creditworthiness of the FCMs with which the Portfolios do business.

Portions of certain Portfolios' securities and cash holdings, as noted on those Portfolios' Schedules of Investments, were pledged at September 30, 2025 as collateral for the Portfolios' futures contracts. The futures contracts, except those held by the AVIP Bond, AVIP BlackRock Balanced Allocation, AVIP Constellation Dynamic Risk Balanced, AVIP Federated Core Plus Bond, and AVIP Constellation Managed Risk Portfolios, were used for the purpose of gaining equity exposure for cash and cash equivalents, thereby seeking to lessen a performance difference between the Portfolios and their respective benchmark indices. For the AVIP Constellation Dynamic Risk Balanced and AVIP Constellation Managed Risk Portfolios, futures contracts were used to provide for the Portfolios' respective stated risk management strategies. For each of the AVIP Bond, AVIP BlackRock Balanced Allocation, and AVIP Federated Core Plus Bond Portfolios, futures contracts were used to manage total exposure to underlying investments, to manage interest rate risk, or to otherwise execute the Portfolio's stated investment strategy. There were other futures contracts executed and closed in the Portfolios during the nine-month period ended September 30, 2025. Those contracts were executed for similar purposes as the contracts outstanding at September 30, 2025.

**(4)Federal Income Tax Information**

The cost basis for Federal income tax purposes may differ from the cost basis for financial reporting purposes. The table below details the unrealized appreciation (depreciation) and aggregate cost of investments at September 30, 2025 for federal income tax purposes.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AVIP Bond** | **AVIP BlackRock** <br> **Balanced** <br> **Allocation**<br>| **AVIP BlackRock** <br> **Advantage** <br> **International** <br> **Equity**<br>| **AVIP Fidelity** <br> **Institutional AM**<sup>®</sup> <br> **Equity Growth** <br>| **AVIP AB Small** <br> **Cap**<br>| **AVIP AB Mid Cap** <br> **Core**<br>|
| Gross unrealized: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Appreciation | $2908209 | $83426589 | $53542551 | $30233213 | $19203787 | $12085295 |
| &nbsp;&nbsp;&nbsp; Depreciation | (10325818)<br>| (10812152)<br>| (9893883)<br>| (2001858)<br>| (13114027)<br>| (6864463)<br>|
| Net unrealized appreciation (depreciation) | $(7417609)<br>| $72614437 | $43648668 | $28231355 | $6089760 | $5220832 |
| Aggregate cost of investments: | $252552956 | $302819110 | $306682783 | $96199934 | $102319737 | $68889211 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AVIP S&P 500**<sup>®</sup> <br> **Index**<br>| **AVIP BlackRock** <br> **Advantage Large** <br> **Cap Value**<br>| **AVIP Federated** <br> **High Income** <br> **Bond**<br>| **AVIP** <br> **Nasdaq-100**<sup>®</sup> <br> **Index**<br>| **AVIP BlackRock** <br> **Advantage Large** <br> **Cap Core**<br>| **AVIP BlackRock** <br> **Advantage Small** <br> **Cap Growth**<br>|
| Gross unrealized: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Appreciation | $635055208 | $30704177 | $2229225 | $133409823 | $104874567 | $26883976 |
| &nbsp;&nbsp;&nbsp; Depreciation | (33883803)<br>| (8144672)<br>| (2240729)<br>| (8294020)<br>| (5763712)<br>| (12136176)<br>|
| Net unrealized appreciation (depreciation) | $601171405 | $22559505 | $(11504)<br>| $125115803 | $99110855 | $14747800 |
| Aggregate cost of investments: | $601661980 | $167635089 | $118619798 | $147310072 | $234691133 | $117368294 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AVIP S&P MidCap** <br> **400**<sup>®</sup> **Index**<br>| **AVIP BlackRock** <br> **Advantage Large** <br> **Cap Growth**<br>| **AVIP** <br> **Constellation** <br> **Dynamic Risk** <br> **Balanced**<br>| **AVIP Federated** <br> **Core Plus Bond**<br>| **AVIP Intech** <br> **U.S. Low Volatility**<br>| **AVIP AB Relative** <br> **Value**<br>|
| Gross unrealized: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Appreciation | $115729040 | $115407625 | $79359099 | $6533116 | $98930810 | $20715596 |
| &nbsp;&nbsp;&nbsp; Depreciation | (42962475)<br>| (5189094)<br>| (6414998)<br>| (25492823)<br>| (14203794)<br>| (2609921)<br>|
| Net unrealized appreciation (depreciation) | $72766565 | $110218531 | $72944101 | $(18959707)<br>| $84727016 | $18105675 |
| Aggregate cost of investments: | $459707375 | $361174824 | $1099512121 | $534497810 | $494635334 | $98058761 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(continued)*

------

**AuguStar Variable Insurance Products Fund, Inc.**

**Notes to Schedules of Investments (Continued)**

**September 30, 2025 (Unaudited)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **AVIP** <br> **Constellation** <br> **Managed Risk** <br> **Balanced**<br>| **AVIP** <br> **Constellation** <br> **Managed Risk** <br> **Moderate Growth**<br>| **AVIP** <br> **Constellation** <br> **Managed Risk** <br> **Growth**<br>| **AVIP Moderately** <br> **Conservative** <br> **Model**<br>| **AVIP Balanced** <br> **Model**<br>| **AVIP Moderate** <br> **Growth Model**<br>|
| Gross unrealized: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Appreciation | $73178282 | $103655643 | $107522076 | $10434432 | $62265177 | $167767444 |
| &nbsp;&nbsp;&nbsp; Depreciation | (6357223)<br>| (84296)<br>| (853480)<br>| (4806841)<br>| (9344356)<br>| (6400007)<br>|
| Net unrealized appreciation (depreciation) | $66821059 | $103571347 | $106668596 | $5627591 | $52920821 | $161367437 |
| Aggregate cost of investments: | $427140492 | $343247937 | $281550438 | $165870768 | $638806457 | $1243621090 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **AVIP Growth** <br> **Model**<br>|
| Gross unrealized: |  |
| &nbsp;&nbsp;&nbsp; Appreciation | $48058555 |
| &nbsp;&nbsp;&nbsp; Depreciation | (64417)<br>|
| Net unrealized appreciation | $47994138 |
| Aggregate cost of investments: | $300470056 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AuguStar Variable Insurance Products Fund Inc

- **b. Investment Company Act file number:** 811-03015

- **c. CIK number of Registrant:** 0000315754

- **d. LEI of Registrant:** 5493003JP6LYED5W1C30

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

  - **Street Address 1:** One Financial Way

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45242

  - **Telephone number:** 513-794-6971

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

- **a. Name of Series:** AVIP Balanced Model Portfolio

- **b. EDGAR series identifier (if any):** S000056644

- **c. LEI of Series:** 549300SE55MNEX7ITN32

**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:** $692366628.93

**Total Liabilities:** $264712.60

**Net Assets:** $692101916.33

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000179131 | 0.33%                | 2.36%                | 2.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3378944.11              | $-1395090.43                               |
| Month 2  | $1729955.24              | $14120620.67                               |
| Month 3  | $2159390.59              | $-32140588.14                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vanguard World Fund                                         | VANGUARD INTERNATIONAL GROWTH VANGUARD INTL GROWTH ADM      | CUSIP: 921910501<br>LEI: 549300MP6BT0L4Q61L10 | Long             | EC               | RF                | US        |    112301 | NS      | $13835484.43  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series            | PIMCO TOTAL RETURN FUND PIMCO TOTAL RETURN FUND INST        | CUSIP: 693390700<br>LEI: N/A                  | Long             | EC               | RF                | US        |   9391373 | NS      | $82737999.83  | 11.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Dfa Invt Dimensions Group Inc                               | DFA INTERNATIONAL CORE EQUITY DFA INTERNATIONAL CORE EQTY   | CUSIP: 233203371<br>LEI: 549300XGRTBJCE41BD26 | Long             | EC               | RF                | US        |   1774602 | NS      | $34604744.44  | 5.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dfa Invt Dimensions Group Inc                               | DFA EMERGING MARKETS PORTFOLIO DFA EMERGING MARKETS PORT    | CUSIP: 233203785<br>LEI: 549300XGRTBJCE41BD26 | Long             | EC               | RF                | US        |    387816 | NS      | $13786843.12  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP BOND                     | AUGUSTAR VAR INS PROD FDS INC AVIP BOND                     | CUSIP: 677410300<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   2796869 | NS      | $48301933.24  | 6.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP BLACKROCK ADVANTAGE INTL | AUGUSTAR VAR INS PROD FDS INC AVIP BLACKROCK ADVANTAGE INTL | CUSIP: 677410508<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   2472496 | NS      | $48881238.64  | 7.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP AB RELATIVE VALUE        | AUGUSTAR VAR INS PROD FDS INC AVIP AB RELATIVE VALUE        | CUSIP: 677410581<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   2293058 | NS      | $27723068.84  | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP FED CORE PLUS BOND       | AUGUSTAR VAR INS PROD FDS INC AVIP FED CORE PLUS BOND       | CUSIP: 677410599<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   7586038 | NS      | $68957087.52  | 9.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP BR ADV LARGE CAP GROWTH  | CUSIP: 677410722<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    757134 | NS      | $6950486.91   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP S P MIDCAP 400 INDEX     | CUSIP: 677410748<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   3649548 | NS      | $75691617.76  | 10.94%            |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP BR ADV SMALL CAP GROWTH  | AUGUSTAR VAR INS PROD FDS INC AVIP BR ADV SMALL CAP GROWTH  | CUSIP: 677410789<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    523492 | NS      | $13862073.16  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP BR ADV LARGE CAP CORE    | CUSIP: 677410797<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    366098 | NS      | $13900736.54  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP NASDAQ 100 INDEX         | CUSIP: 677410813<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    402993 | NS      | $6955665.08   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP FED HIGH INCOME BOND     | AUGUSTAR VAR INS PROD FDS INC AVIP FED HIGH INCOME BOND     | CUSIP: 677410839<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   1433414 | NS      | $27578883.65  | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP BR ADV LARGE CAP VALUE   | CUSIP: 677410847<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   1427759 | NS      | $27755625.38  | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AuguStar Variable Insurance Products Fund Inc               | AUGUSTAR VAR INS PROD FDS INC AVIP S P 500 INDEX            | CUSIP: 677410854<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |   2511715 | NS      | $111294091.47 | 16.08%            |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP AB MID CAP CORE          | AUGUSTAR VAR INS PROD FDS INC AVIP AB MID CAP CORE          | CUSIP: 677410862<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    201444 | NS      | $6885348.81   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AUGUSTAR VAR INS PROD FDS INC AVIP AB SMALL CAP             | AUGUSTAR VAR INS PROD FDS INC AVIP AB SMALL CAP             | CUSIP: 677410870<br>LEI: 5493003JP6LYED5W1C30 | Long             | EC               | RF                | US        |    473401 | NS      | $6892711.78   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PIMCO Funds Pacific Investment Management Series            | PIMCO LOW DURATION FUND/UNITED PIMCO LOW DURATION INST      | CUSIP: 693390304<br>LEI: N/A                  | Long             | EC               | RF                | US        |   5871385 | NS      | $54897452.62  | 7.93%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** AuguStar Variable Insurance Products Fund Inc

**Signature:** R. Todd Brockman

**Name of Signer:** R. Todd Brockman

**Title:** Treasurer