# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-26-021598
**Filing Date:** 2026-5
**Character Count:** 25778
**Document Hash:** 510b99d37fc575060b07f742b605096b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021598.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021598

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05017
- **FILM NUMBER:** 261031792

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

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

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

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

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

## Series and Classes Contracts Data

### Nomura VIP Energy Series (Series ID: S000011749)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000032174 | Service      |  |
| C000190650 | Standard     |  |

## Nport-Ex

## Schedule of investments
Nomura VIP Energy Series

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 93.42%♣** | &nbsp;&nbsp;**Common Stocks — 93.42%♣** | &nbsp;&nbsp;**Common Stocks — 93.42%♣** |
| &nbsp;&nbsp;Coal & Consumable Fuels — 5.73% | &nbsp;&nbsp;Coal & Consumable Fuels — 5.73% | &nbsp;&nbsp;Coal & Consumable Fuels — 5.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core Natural Resources | &nbsp;&nbsp;&nbsp;&nbsp;49270 | &nbsp;&nbsp;$5160047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peabody Energy | &nbsp;&nbsp;&nbsp;&nbsp;61901 | &nbsp;&nbsp;&nbsp; 2039638 |
|  |  | &nbsp;&nbsp;&nbsp; 7199685 |
| &nbsp;&nbsp;Electrical Components & Equipment — 0.88% | &nbsp;&nbsp;Electrical Components & Equipment — 0.88% | &nbsp;&nbsp;Electrical Components & Equipment — 0.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668 | &nbsp;&nbsp;&nbsp; 1107130 |
|  |  | &nbsp;&nbsp;&nbsp; 1107130 |
| &nbsp;&nbsp;Heavy Electrical Equipment — 0.47% | &nbsp;&nbsp;Heavy Electrical Equipment — 0.47% | &nbsp;&nbsp;Heavy Electrical Equipment — 0.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GE Vernova | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp; 594445 |
|  |  | &nbsp;&nbsp;&nbsp; 594445 |
| &nbsp;&nbsp;Independent Power Producers & Energy Traders — 0.25% | &nbsp;&nbsp;Independent Power Producers & Energy Traders — 0.25% | &nbsp;&nbsp;Independent Power Producers & Energy Traders — 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistra | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078 | &nbsp;&nbsp;&nbsp; 312386 |
|  |  | &nbsp;&nbsp;&nbsp; 312386 |
| &nbsp;&nbsp;Integrated Oil & Gas — 22.27% | &nbsp;&nbsp;Integrated Oil & Gas — 22.27% | &nbsp;&nbsp;Integrated Oil & Gas — 22.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP ADR | &nbsp;&nbsp;&nbsp;&nbsp;133230 | &nbsp;&nbsp;&nbsp; 6261810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cenovus Energy | &nbsp;&nbsp;&nbsp;&nbsp;50440 | &nbsp;&nbsp;&nbsp; 1338173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil | &nbsp;&nbsp;&nbsp;&nbsp;47050 | &nbsp;&nbsp;&nbsp; 7982503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shell | &nbsp;&nbsp;&nbsp;&nbsp;82412 | &nbsp;&nbsp;&nbsp; 3816915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Suncor Energy | &nbsp;&nbsp;&nbsp;&nbsp;19030 | &nbsp;&nbsp;&nbsp; 1258074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TotalEnergies | &nbsp;&nbsp;&nbsp;&nbsp;54423 | &nbsp;&nbsp;&nbsp; 4994624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unit | &nbsp;&nbsp;&nbsp;&nbsp;67033 | &nbsp;&nbsp;&nbsp; 2315990 |
|  |  | &nbsp;&nbsp;&nbsp; 27968089 |
| &nbsp;&nbsp;Oil & Gas Drilling — 4.30% | &nbsp;&nbsp;Oil & Gas Drilling — 4.30% | &nbsp;&nbsp;Oil & Gas Drilling — 4.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Helmerich & Payne | &nbsp;&nbsp;&nbsp;&nbsp;149705 | &nbsp;&nbsp;&nbsp; 5393871 |
|  |  | &nbsp;&nbsp;&nbsp; 5393871 |
| &nbsp;&nbsp;Oil & Gas Equipment & Services — 8.23% | &nbsp;&nbsp;Oil & Gas Equipment & Services — 8.23% | &nbsp;&nbsp;Oil & Gas Equipment & Services — 8.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Energy Services Reunited † | &nbsp;&nbsp;&nbsp;&nbsp;31310 | &nbsp;&nbsp;&nbsp; 672226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLB | &nbsp;&nbsp;&nbsp;&nbsp;86350 | &nbsp;&nbsp;&nbsp; 4437527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TechnipFMC | &nbsp;&nbsp;&nbsp;&nbsp;32010 | &nbsp;&nbsp;&nbsp; 2212851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weatherford International | &nbsp;&nbsp;&nbsp;&nbsp;31840 | &nbsp;&nbsp;&nbsp; 3011427 |
|  |  | &nbsp;&nbsp;&nbsp; 10334031 |
| &nbsp;&nbsp;Oil & Gas Exploration & Production — 45.97% | &nbsp;&nbsp;Oil & Gas Exploration & Production — 45.97% | &nbsp;&nbsp;Oil & Gas Exploration & Production — 45.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARC Resources | &nbsp;&nbsp;&nbsp;&nbsp;275256 | &nbsp;&nbsp;&nbsp; 5728317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Natural Resources | &nbsp;&nbsp;&nbsp;&nbsp;151781 | &nbsp;&nbsp;&nbsp; 7404111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chord Energy | &nbsp;&nbsp;&nbsp;&nbsp;35412 | &nbsp;&nbsp;&nbsp; 5034878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;63534 | &nbsp;&nbsp;&nbsp; 8386488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamondback Energy | &nbsp;&nbsp;&nbsp;&nbsp;32742 | &nbsp;&nbsp;&nbsp; 6476040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources | &nbsp;&nbsp;&nbsp;&nbsp;21208 | &nbsp;&nbsp;&nbsp; 3066040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EQT | &nbsp;&nbsp;&nbsp;&nbsp;17215 | &nbsp;&nbsp;&nbsp; 1095563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand Energy | &nbsp;&nbsp;&nbsp;&nbsp;31993 | &nbsp;&nbsp;&nbsp; 3512191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kimbell Royalty Partners | &nbsp;&nbsp;&nbsp;&nbsp;265608 | &nbsp;&nbsp;&nbsp; 3843348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ovintiv | &nbsp;&nbsp;&nbsp;&nbsp;65980 | &nbsp;&nbsp;&nbsp; 3916573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parex Resources | &nbsp;&nbsp;&nbsp;&nbsp;134707 | &nbsp;&nbsp;&nbsp; 2647466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Permian Resources Class A | &nbsp;&nbsp;&nbsp;&nbsp;310135 | &nbsp;&nbsp;&nbsp; 6612078 |
|  |  | &nbsp;&nbsp;&nbsp; 57723093 |

---

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** | &nbsp;&nbsp;**Common Stocks♣ (continued)** |
| &nbsp;&nbsp;Oil & Gas Refining & Marketing — 5.32% | &nbsp;&nbsp;Oil & Gas Refining & Marketing — 5.32% | &nbsp;&nbsp;Oil & Gas Refining & Marketing — 5.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy | &nbsp;&nbsp;&nbsp;&nbsp;27023 | &nbsp;&nbsp;$6676843 |
|  |  | &nbsp;&nbsp;&nbsp; 6676843 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $93,221,434)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $93,221,434)** | &nbsp;&nbsp;&nbsp;**117309573** |
| &nbsp;&nbsp;**Master Limited Partnerships — 2.65%** | &nbsp;&nbsp;**Master Limited Partnerships — 2.65%** | &nbsp;&nbsp;**Master Limited Partnerships — 2.65%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer | &nbsp;&nbsp;&nbsp;&nbsp;65402 | &nbsp;&nbsp;&nbsp; 1262259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners | &nbsp;&nbsp;&nbsp;&nbsp;54640 | &nbsp;&nbsp;&nbsp; 2067577 |
| &nbsp;&nbsp;&nbsp;**Total Master Limited Partnerships<br> (cost $2,573,382)** | &nbsp;&nbsp;&nbsp;**Total Master Limited Partnerships<br> (cost $2,573,382)** | &nbsp;&nbsp;&nbsp; **3329836** |
| &nbsp;&nbsp;**Short-Term Investments — 3.90%** | &nbsp;&nbsp;**Short-Term Investments — 3.90%** | &nbsp;&nbsp;**Short-Term Investments — 3.90%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 3.90% | &nbsp;&nbsp;Money Market Mutual Funds — 3.90% | &nbsp;&nbsp;Money Market Mutual Funds — 3.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.55%) | 1222709 | &nbsp;&nbsp;&nbsp; 1222709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%) | 1222710 | &nbsp;&nbsp;&nbsp; 1222710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%) | 1222710 | &nbsp;&nbsp;&nbsp; 1222710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.57%) | 1222710 | &nbsp;&nbsp;&nbsp; 1222710 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $4,890,839)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $4,890,839)** | &nbsp;&nbsp;&nbsp; **4890839** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—99.97%<br> (cost $100,685,655)** |  | &nbsp;&nbsp;&nbsp;**125530248** |
| &nbsp;&nbsp;&nbsp;**Receivables and Other Assets Net of Liabilities—0.03%** |  | &nbsp;&nbsp;&nbsp; **38822** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 18,284,169 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$125569070** |

---

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

---

| |
|:---|
| **Summary of abbreviations:** |
| ADR – American Depositary Receipt |
| GE – General Electric |

---

NQ- IV073 [0326] 0526 (5459540) 1

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 100 Independence

  - **City:** Philadelphia

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19106

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

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

- **a. Name of Series:** Nomura VIP Energy Series

- **b. EDGAR series identifier (if any):** S000011749

- **c. LEI of Series:** 5493006FF0XNUYIPIR72

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $125819953.80

**Total Liabilities:** $198009.82

**Net Assets:** $125621943.98

**Cash Not Reported:** $63176.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032174 | 10.62%               | 7.33%                | 11.71%               |
| Class ID C000190650 | 10.47%               | 7.37%                | 11.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $574006.29               | $7456759.30                                |
| Month 2  | $1359995.07              | $4852737.67                                |
| Month 3  | $9185.89                 | $12396018.88                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TotalEnergies SE                             | TotalEnergies SE EUR2.5                                     | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     54423 | NS      | $4994623.76   | 3.98%             |  |  |  | No            |                  2 | On Loan: No      |
| ARC Resources Ltd.                           | ARC Resources Ltd. COM NPV                                  | CUSIP: 00208D408<br>LEI: 5493000OCGNQZEVTDT08 | Long             | EC               | CORP              | CA        |    275256 | NS      | $5728316.58   | 4.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ovintiv Inc                                  | Ovintiv Inc COM                                             | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     65980 | NS      | $3916572.80   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Funds GOVT PTF INSTL | CUSIP: 61747C707<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |   1222710 | NS      | $1222709.83   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                           | Energy Transfer LP COM UT LTD PTN                           | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     65402 | NS      | $1262258.60   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp.                          | Valero Energy Corp. COM                                     | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |     27023 | NS      | $6676842.84   | 5.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp.                           | Chord Energy Corp. COM NEW                                  | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     35412 | NS      | $5034878.16   | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Helmerich & Payne Inc                        | Helmerich & Payne Inc COM                                   | CUSIP: 423452101<br>LEI: 254900NAOGHJ88RZ4C73 | Long             | EC               | CORP              | US        |    149705 | NS      | $5393871.15   | 4.29%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc.                              | GE Vernova Inc. COM                                         | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       681 | NS      | $594444.90    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Natural Resources Inc.                  | Core Natural Resources Inc. COM SHS                         | CUSIP: 218937100<br>LEI: 549300YJCTPJBTK7IJ81 | Long             | EC               | CORP              | US        |     49270 | NS      | $5160047.10   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc.                           | EOG Resources Inc. COM                                      | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     21208 | NS      | $3066040.56   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp.                          | Expand Energy Corp. COM                                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     31993 | NS      | $3512191.54   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc                | Weatherford International Plc COM USD0.001                  | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     31840 | NS      | $3011427.20   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp                       | Permian Resources Corp CLASS A COM                          | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    310135 | NS      | $6612078.20   | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                          | Goldman Sachs Financial Square Government Fund              | CUSIP: 38141W273<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   1222710 | NS      | $1222709.83   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp.                            | Exxon Mobil Corp. COM                                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     47050 | NS      | $7982503.00   | 6.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL ENERGY SERVICES REUNITED CORP       | National Energy Services Reunited Corp. COM NPV             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     31310 | NS      | $672225.70    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PAREX RESOURCES INC                          | Parex Resources Inc. COM NPV                                | CUSIP: 69946Q104<br>LEI: 549300U7LWRGTY6XWK67 | Long             | EC               | CORP              | CA        |    134707 | NS      | $2647465.59   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                       | BP PLC SPONSORED ADR                                        | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    133230 | NS      | $6261810.00   | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                               | ConocoPhillips COM                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     63534 | NS      | $8386488.00   | 6.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.            | Enterprise Products Partners L.P. COM                       | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     54640 | NS      | $2067577.60   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                    | Shell PLC ORD EUR0.07                                       | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     82412 | NS      | $3816915.23   | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                    | BlackRock Liquidity Funds FEDFUND INSTL                     | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   1222710 | NS      | $1222709.81   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNCOR ENERGY INC                            | Suncor Energy Inc. COM                                      | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               | CORP              | CA        |     19030 | NS      | $1258073.30   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc.                        | Generac Holdings Inc. COM                                   | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      5668 | NS      | $1107130.44   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Cenovus Energy Inc                           | Cenovus Energy Inc COM                                      | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     50440 | NS      | $1338173.20   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corporation                              | EQT Corporation COM                                         | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     17215 | NS      | $1095562.60   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Unit Corporation                             | Unit Corporation COM NEW                                    | CUSIP: 909218406<br>LEI: 549300XGK22FZCTN8B67 | Long             | EC               | CORP              | US        |     67033 | NS      | $2315990.15   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                       | Diamondback Energy Inc COM                                  | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     32742 | NS      | $6476040.18   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB LTD                                      | SLB Ltd. COM STK                                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |     86350 | NS      | $4437526.50   | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                               | TechnipFMC PLC USD1                                         | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     32010 | NS      | $2212851.30   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimbell Royalty Partners Lp                  | Kimbell Royalty Partners Lp UNIT                            | CUSIP: 49435R102<br>LEI: 5493007FC11POVYRB841 | Long             | EC               | CORP              | US        |    265608 | NS      | $3843347.76   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                  | Vistra Corp COM                                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      2078 | NS      | $312385.74    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Natural Resources Limited           | Canadian Natural Resources Limited COM NPV                  | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |    151781 | NS      | $7404110.89   | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust             | Fidelity Colchester Street Trust MNY MRKT FDS I             | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   1222710 | NS      | $1222709.83   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Peabody Energy Corp.                         | Peabody Energy Corp. COM                                    | CUSIP: 704551100<br>LEI: EJCO258LNNVSKAR2JX59 | Long             | EC               | CORP              | US        |     61901 | NS      | $2039637.95   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

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

**Signature:** Dan Geatens

**Name of Signer:** Dan Geatens

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