# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-26-021594
**Filing Date:** 2026-5
**Character Count:** 32765
**Document Hash:** b612ac31d1b1197f1ec97240e49f5d6b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021594.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021594

**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:** 261031786

**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 Core Equity Series (Series ID: S000006238)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000017172 | Service      |  |

## Nport-Ex

## Schedule of investments
Nomura VIP Core Equity Series

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Common Stocks — 96.32%♣** | &nbsp;&nbsp;**Common Stocks — 96.32%♣** | &nbsp;&nbsp;**Common Stocks — 96.32%♣** |
| &nbsp;&nbsp;Communication Services — 9.88% | &nbsp;&nbsp;Communication Services — 9.88% | &nbsp;&nbsp;Communication Services — 9.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet Class A | &nbsp;&nbsp;&nbsp;&nbsp;142521 | &nbsp;&nbsp;$40983339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT&T | &nbsp;&nbsp;&nbsp;&nbsp;299319 | &nbsp;&nbsp;&nbsp; 8677258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms Class A | &nbsp;&nbsp;&nbsp;&nbsp;17559 | &nbsp;&nbsp;&nbsp; 10046031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix † | &nbsp;&nbsp;&nbsp;&nbsp;41716 | &nbsp;&nbsp;&nbsp; 4010993 |
|  |  | &nbsp;&nbsp;&nbsp; 63717621 |
| &nbsp;&nbsp;Consumer Discretionary — 5.34% | &nbsp;&nbsp;Consumer Discretionary — 5.34% | &nbsp;&nbsp;Consumer Discretionary — 5.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com † | &nbsp;&nbsp;&nbsp;&nbsp;88640 | &nbsp;&nbsp;&nbsp; 18461053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AutoZone † | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3789 | &nbsp;&nbsp;&nbsp; 12798408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp; 3183002 |
|  |  | &nbsp;&nbsp;&nbsp; 34442463 |
| &nbsp;&nbsp;Consumer Staples — 2.65% | &nbsp;&nbsp;Consumer Staples — 2.65% | &nbsp;&nbsp;Consumer Staples — 2.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale | &nbsp;&nbsp;&nbsp;&nbsp;17136 | &nbsp;&nbsp;&nbsp; 17074824 |
|  |  | &nbsp;&nbsp;&nbsp; 17074824 |
| &nbsp;&nbsp;Financials — 15.88% | &nbsp;&nbsp;Financials — 15.88% | &nbsp;&nbsp;Financials — 15.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ally Financial | &nbsp;&nbsp;&nbsp;&nbsp;245180 | &nbsp;&nbsp;&nbsp; 9618411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;&nbsp;27814 | &nbsp;&nbsp;&nbsp; 8413179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon Class A | &nbsp;&nbsp;&nbsp;&nbsp;26004 | &nbsp;&nbsp;&nbsp; 8393571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone | &nbsp;&nbsp;&nbsp;&nbsp;45626 | &nbsp;&nbsp;&nbsp; 5246534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cboe Global Markets | &nbsp;&nbsp;&nbsp;&nbsp;37078 | &nbsp;&nbsp;&nbsp; 10421514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CME Group | &nbsp;&nbsp;&nbsp;&nbsp;54435 | &nbsp;&nbsp;&nbsp; 16077377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;42974 | &nbsp;&nbsp;&nbsp; 12641232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard Class A | &nbsp;&nbsp;&nbsp;&nbsp;23387 | &nbsp;&nbsp;&nbsp; 11685548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;55718 | &nbsp;&nbsp;&nbsp; 9169511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Financial Services Group | &nbsp;&nbsp;&nbsp;&nbsp;51461 | &nbsp;&nbsp;&nbsp; 10708520 |
|  |  | &nbsp;&nbsp;&nbsp;102375397 |
| &nbsp;&nbsp;Healthcare — 8.04% | &nbsp;&nbsp;Healthcare — 8.04% | &nbsp;&nbsp;Healthcare — 8.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;65896 | &nbsp;&nbsp;&nbsp; 6765542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie | &nbsp;&nbsp;&nbsp;&nbsp;22177 | &nbsp;&nbsp;&nbsp; 4823276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher | &nbsp;&nbsp;&nbsp;&nbsp;63438 | &nbsp;&nbsp;&nbsp; 12027845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences | &nbsp;&nbsp;&nbsp;&nbsp;70603 | &nbsp;&nbsp;&nbsp; 9839940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA Healthcare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6930 | &nbsp;&nbsp;&nbsp; 3279553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | &nbsp;&nbsp;&nbsp;&nbsp;20316 | &nbsp;&nbsp;&nbsp; 9985924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals † | &nbsp;&nbsp;&nbsp;&nbsp;11408 | &nbsp;&nbsp;&nbsp; 5094128 |
|  |  | &nbsp;&nbsp;&nbsp; 51816208 |
| &nbsp;&nbsp;Industrials — 16.52% | &nbsp;&nbsp;Industrials — 16.52% | &nbsp;&nbsp;Industrials — 16.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Airbus ADR | &nbsp;&nbsp;&nbsp;&nbsp;248409 | &nbsp;&nbsp;&nbsp; 11737325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BAE Systems ADR | &nbsp;&nbsp;&nbsp;&nbsp;109880 | &nbsp;&nbsp;&nbsp; 12801020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carrier Global | &nbsp;&nbsp;&nbsp;&nbsp;183426 | &nbsp;&nbsp;&nbsp; 10328718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cummins | &nbsp;&nbsp;&nbsp;&nbsp;29388 | &nbsp;&nbsp;&nbsp; 15811332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eaton | &nbsp;&nbsp;&nbsp;&nbsp;47477 | &nbsp;&nbsp;&nbsp; 16981099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferguson Enterprises | &nbsp;&nbsp;&nbsp;&nbsp;43198 | &nbsp;&nbsp;&nbsp; 10076365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howmet Aerospace | &nbsp;&nbsp;&nbsp;&nbsp;97319 | &nbsp;&nbsp;&nbsp; 22428137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parker-Hannifin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7126 | &nbsp;&nbsp;&nbsp; 6379480 |
|  |  | &nbsp;&nbsp;&nbsp;106543476 |
| &nbsp;&nbsp;Information Technology — 32.39% | &nbsp;&nbsp;Information Technology — 32.39% | &nbsp;&nbsp;Information Technology — 32.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture Class A | &nbsp;&nbsp;&nbsp;&nbsp;39413 | &nbsp;&nbsp;&nbsp; 7815204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advanced Micro Devices † | &nbsp;&nbsp;&nbsp;&nbsp;31981 | &nbsp;&nbsp;&nbsp; 6505895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple | &nbsp;&nbsp;&nbsp;&nbsp;124520 | &nbsp;&nbsp;&nbsp; 31601931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials | &nbsp;&nbsp;&nbsp;&nbsp;54217 | &nbsp;&nbsp;&nbsp; 18530828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;&nbsp;51573 | &nbsp;&nbsp;&nbsp; 15962359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit | &nbsp;&nbsp;&nbsp;&nbsp;21587 | &nbsp;&nbsp;&nbsp; 9333787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft | &nbsp;&nbsp;&nbsp;&nbsp;60585 | &nbsp;&nbsp;&nbsp; 22426749 |

---

---

| | | |
|:---|:---|:---|
|  | **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;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) | &nbsp;&nbsp;Information Technology (continued) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA | &nbsp;&nbsp;&nbsp;&nbsp;274161 | &nbsp;&nbsp;$47813678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seagate Technology Holdings | &nbsp;&nbsp;&nbsp;&nbsp;39331 | &nbsp;&nbsp;&nbsp; 15408313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | &nbsp;&nbsp;&nbsp;&nbsp;82682 | &nbsp;&nbsp;&nbsp; 27942382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity | &nbsp;&nbsp;&nbsp;&nbsp;26395 | &nbsp;&nbsp;&nbsp; 5517083 |
|  |  | &nbsp;&nbsp;&nbsp;208858209 |
| &nbsp;&nbsp;Materials — 2.14% | &nbsp;&nbsp;Materials — 2.14% | &nbsp;&nbsp;Materials — 2.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Holdings | &nbsp;&nbsp;&nbsp;&nbsp;77535 | &nbsp;&nbsp;&nbsp; 7772884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vulcan Materials | &nbsp;&nbsp;&nbsp;&nbsp;22234 | &nbsp;&nbsp;&nbsp; 6054318 |
|  |  | &nbsp;&nbsp;&nbsp; 13827202 |
| &nbsp;&nbsp;Utilities — 3.48% | &nbsp;&nbsp;Utilities — 3.48% | &nbsp;&nbsp;Utilities — 3.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Entergy | &nbsp;&nbsp;&nbsp;&nbsp;98368 | &nbsp;&nbsp;&nbsp; 11052629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy | &nbsp;&nbsp;&nbsp;&nbsp;122381 | &nbsp;&nbsp;&nbsp; 11366747 |
|  |  | &nbsp;&nbsp;&nbsp; 22419376 |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $492,938,344)** | &nbsp;&nbsp;&nbsp;**Total Common Stocks<br> (cost $492,938,344)** | &nbsp;&nbsp;&nbsp;**621074776** |
| &nbsp;&nbsp;**Short-Term Investments — 3.94%** | &nbsp;&nbsp;**Short-Term Investments — 3.94%** | &nbsp;&nbsp;**Short-Term Investments — 3.94%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 3.94% | &nbsp;&nbsp;Money Market Mutual Funds — 3.94% | &nbsp;&nbsp;Money Market Mutual Funds — 3.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.55%) | 6356325 | &nbsp;&nbsp;&nbsp; 6356325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%) | 6356325 | &nbsp;&nbsp;&nbsp; 6356325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%) | 6356326 | &nbsp;&nbsp;&nbsp; 6356326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.57%) | 6356326 | &nbsp;&nbsp;&nbsp; 6356326 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $25,425,302)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $25,425,302)** | &nbsp;&nbsp;&nbsp; **25425302** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.26%<br> (cost $518,363,646)** |  | &nbsp;&nbsp;&nbsp;**646500078** |
| &nbsp;&nbsp;&nbsp;**Liabilities Net of Receivables and Other Assets—(0.26%)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(1685499)** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 48,538,900 Shares Outstanding—100.00%** |  | &nbsp;&nbsp;**$644814579** |

---

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

NQ- VIP2 [0326] 0526 (5459551) 1

------

Nomura VIP Core Equity Series

---

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

---

2 NQ- VIP2 [0326] 0526 (5459551)

## 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 Core Equity Series

- **b. EDGAR series identifier (if any):** S000006238

- **c. LEI of Series:** 1O0KE92B2QJ305IPCS48

**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:** $646790689.98

**Total Liabilities:** $751121.77

**Net Assets:** $646039568.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017172 | 1.65%                | -1.13%               | -5.48%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9582754.45              | $1405195.56                                |
| Month 2  | $12113799.46             | $-19937514.72                              |
| Month 3  | $3812304.65              | $-41611195.42                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie Inc.                                  | AbbVie Inc. COM                                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     22177 | NS      | $4823275.73   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.                        | Parker-Hannifin Corp. COM                                   | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |      7126 | NS      | $6379480.24   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                               | Autozone, Inc. COM                                          | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      3789 | NS      | $12798408.42  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc. COM                                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     88640 | NS      | $18461052.80  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                      | MasterCard Incorporated CL A                                | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     23387 | NS      | $11685548.42  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                         | Gilead Sciences Inc. COM                                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     70603 | NS      | $9839940.11   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                                | Netflix, Inc. COM                                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     41716 | NS      | $4010993.40   | 0.62%             |  |  |  | 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        |   6356325 | NS      | $6356325.36   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMorgan Chase & Co. COM                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     42974 | NS      | $12641231.84  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                          | Abbott Laboratories COM                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     65896 | NS      | $6765542.32   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                               | Morgan Stanley COM NEW                                      | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     55718 | NS      | $9169511.26   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                       | Applied Materials Inc. COM                                  | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     54217 | NS      | $18530828.43  | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | Meta Platforms Inc CL A                                     | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     17559 | NS      | $10046030.67  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                     | AT&T Inc COM                                                | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    299319 | NS      | $8677257.81   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                   | Intuit Inc COM                                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     21587 | NS      | $9333787.06   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                          | Goldman Sachs Financial Square Government Fund              | CUSIP: 38141W273<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |   6356326 | NS      | $6356325.70   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                          | Entergy Corporation COM                                     | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     98368 | NS      | $11052628.48  | 1.71%             |  |  |  | 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        |   6356326 | NS      | $6356325.70   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                     | Ferguson Enterprises Inc COMMON STOCK NEW                   | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |     43198 | NS      | $10076365.48  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.            | PNC Financial Services Group Inc. COM                       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     51461 | NS      | $10708519.49  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     82682 | NS      | $27942381.90  | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                           | HCA Healthcare Inc COM                                      | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      6930 | NS      | $3279553.20   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                              | BAE Systems PLC SPONSORED ADR                               | CUSIP: 05523R107<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    109880 | NS      | $12801020.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                      | Aon PLC SHS CL A                                            | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     26004 | NS      | $8393571.12   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Company                     | American Express Company COM                                | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     27814 | NS      | $8413178.72   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                               | Blackstone Inc COM                                          | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     45626 | NS      | $5246533.74   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                         | Booking Holdings Inc COM                                    | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       756 | NS      | $3183001.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                         | Howmet Aerospace Inc COM                                    | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |     97319 | NS      | $22428136.74  | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation                 | Costco Wholesale Corporation COM                            | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     17136 | NS      | $17074824.48  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                      | Cboe Global Markets Inc COM                                 | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     37078 | NS      | $10421513.46  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple Inc. COM                                              | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    124520 | NS      | $31601930.80  | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company                     | Vulcan Materials Company COM                                | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     22234 | NS      | $6054318.20   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc.                                 | Cummins Inc. COM                                            | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     29388 | NS      | $15811331.76  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation                   | Carrier Global Corporation COM                              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |    183426 | NS      | $10328718.06  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corp. COM                                         | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     60585 | NS      | $22426749.45  | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                          | TE Connectivity PLC ORD SHS                                 | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     26395 | NS      | $5517082.90   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                           | NextEra Energy Inc COM                                      | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    122381 | NS      | $11366747.28  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                    | Airbus SE UNSPONSORED ADR                                   | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |    248409 | NS      | $11737325.25  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                        | Eaton Corporation PLC COM USD0.01                           | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |     47477 | NS      | $16981098.59  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | Alphabet Inc. CAP STK CL A                                  | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    142521 | NS      | $40983338.76  | 6.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc.                               | CME Group Inc. COM                                          | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     54435 | NS      | $16077377.25  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                    | BlackRock Liquidity Funds FEDFUND INSTL                     | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   6356325 | NS      | $6356325.08   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.                  | Advanced Micro Devices Inc. COM                             | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     31981 | NS      | $6505894.83   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | Broadcom Inc COM                                            | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     51573 | NS      | $15962359.23  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc.                          | Ally Financial Inc. COM                                     | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |    245180 | NS      | $9618411.40   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corp. COM                                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    274161 | NS      | $47813678.40  | 7.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                          | Danaher Corporation COM                                     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     63438 | NS      | $12027844.80  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                                | Accenture PLC CLS'A'USD0.0000225                            | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     39413 | NS      | $7815203.77   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated          | Vertex Pharmaceuticals Incorporated COM                     | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     11408 | NS      | $5094128.32   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                           | Crown Holdings Inc COM                                      | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |     77535 | NS      | $7772883.75   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                 | Thermo Fisher Scientific Inc COM                            | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     20316 | NS      | $9985923.48   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC              | Seagate Technology Holdings PLC ORD SHS                     | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |     39331 | NS      | $15408312.56  | 2.39%             |  |  |  | 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