# EDGAR Filing Document

**Accession Number:** 0000810016
**File Stem:** 0000940400-26-021582
**Filing Date:** 2026-5
**Character Count:** 15072
**Document Hash:** 6d5c1a2f9eafd6ed232eb94f6ccdcb69
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021582.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021582

**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:** 261031774

**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 Pathfinder Moderately Aggressive Series (Series ID: S000020589)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000057544 | Service      |  |

## Nport-Ex

## Schedule of investments
Nomura VIP Pathfinder Moderately Aggressive Series

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Number of<br> shares** | &nbsp;&nbsp;**Value (US $)** |
| &nbsp;&nbsp;**Affiliated Mutual Funds — 89.71%<<** | &nbsp;&nbsp;**Affiliated Mutual Funds — 89.71%<<** | &nbsp;&nbsp;**Affiliated Mutual Funds — 89.71%<<** |
| &nbsp;&nbsp;Alternative / Specialty Fund — 4.36% | &nbsp;&nbsp;Alternative / Specialty Fund — 4.36% | &nbsp;&nbsp;Alternative / Specialty Fund — 4.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Science and Technology Series – Standard Class | &nbsp;&nbsp;&nbsp;&nbsp;530277 | &nbsp;&nbsp;$17462021 |
|  |  | &nbsp;&nbsp;&nbsp; 17462021 |
| &nbsp;&nbsp;Fixed Income Funds — 20.52% | &nbsp;&nbsp;Fixed Income Funds — 20.52% | &nbsp;&nbsp;Fixed Income Funds — 20.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Corporate Bond Series – Service Class | 13760269 | &nbsp;&nbsp;&nbsp; 64260457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP High Income Series – Standard Class | &nbsp;&nbsp;&nbsp;&nbsp;724624 | &nbsp;&nbsp;&nbsp; 2101409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Limited-Term Bond Series – Service Class | 3344026 | &nbsp;&nbsp;&nbsp; 15783803 |
|  |  | &nbsp;&nbsp;&nbsp; 82145669 |
| &nbsp;&nbsp;Global / International Equity Fund — 21.68% | &nbsp;&nbsp;Global / International Equity Fund — 21.68% | &nbsp;&nbsp;Global / International Equity Fund — 21.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP International Core Equity Series – Standard Class | 4805991 | &nbsp;&nbsp;&nbsp; 86796196 |
|  |  | &nbsp;&nbsp;&nbsp; 86796196 |
| &nbsp;&nbsp;US Equity Funds — 43.15% | &nbsp;&nbsp;US Equity Funds — 43.15% | &nbsp;&nbsp;US Equity Funds — 43.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Core Equity Series – Service Class | 6612311 | &nbsp;&nbsp;&nbsp; 87811490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Growth and Income Series – Standard Class | 1302323 | &nbsp;&nbsp;&nbsp; 52288281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Smid Cap Core Series – Service Class | 1475805 | &nbsp;&nbsp;&nbsp; 20174247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura VIP Value Series – Service Class | 2728079 | &nbsp;&nbsp;&nbsp; 12440041 |
|  |  | &nbsp;&nbsp;&nbsp;172714059 |
| &nbsp;&nbsp;&nbsp;**Total Affiliated Mutual Funds<br> (cost $374,132,864)** | &nbsp;&nbsp;&nbsp;**Total Affiliated Mutual Funds<br> (cost $374,132,864)** | &nbsp;&nbsp;&nbsp;**359117945** |
| &nbsp;&nbsp;**Affiliated Exchange-Traded Funds — 10.07%<<** | &nbsp;&nbsp;**Affiliated Exchange-Traded Funds — 10.07%<<** | &nbsp;&nbsp;**Affiliated Exchange-Traded Funds — 10.07%<<** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura Focused International Core ETF | &nbsp;&nbsp;&nbsp;&nbsp;363483 | &nbsp;&nbsp;&nbsp; 8794362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura Focused Large Growth ETF | &nbsp;&nbsp;&nbsp;&nbsp;975803 | &nbsp;&nbsp;&nbsp; 24997341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nomura Transformational Technologies ETF | &nbsp;&nbsp;&nbsp;&nbsp;286788 | &nbsp;&nbsp;&nbsp; 6513443 |
| &nbsp;&nbsp;&nbsp;**Total Affiliated Exchange-Traded Funds<br> (cost $45,155,179)** | &nbsp;&nbsp;&nbsp;**Total Affiliated Exchange-Traded Funds<br> (cost $45,155,179)** | &nbsp;&nbsp;&nbsp; **40305146** |
| &nbsp;&nbsp;**Short-Term Investments — 0.24%** | &nbsp;&nbsp;**Short-Term Investments — 0.24%** | &nbsp;&nbsp;**Short-Term Investments — 0.24%** |
| &nbsp;&nbsp;Money Market Mutual Funds — 0.24% | &nbsp;&nbsp;Money Market Mutual Funds — 0.24% | &nbsp;&nbsp;Money Market Mutual Funds — 0.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock Liquidity FedFund – Institutional Shares (seven-day effective yield 3.55%) | &nbsp;&nbsp;&nbsp;&nbsp;243544 | &nbsp;&nbsp;&nbsp; 243544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio – Class I (seven-day effective yield 3.53%) | &nbsp;&nbsp;&nbsp;&nbsp;243544 | &nbsp;&nbsp;&nbsp; 243544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Government Fund – Institutional Shares (seven-day effective yield 3.59%) | &nbsp;&nbsp;&nbsp;&nbsp;243545 | &nbsp;&nbsp;&nbsp; 243545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Institutional Liquidity Funds Government Portfolio – Institutional Class (seven-day effective yield 3.57%) | &nbsp;&nbsp;&nbsp;&nbsp;243544 | &nbsp;&nbsp;&nbsp; 243544 |
| &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $974,177)** | &nbsp;&nbsp;&nbsp;**Total Short-Term Investments<br> (cost $974,177)** | &nbsp;&nbsp;&nbsp; **974177** |
| &nbsp;&nbsp;&nbsp;**Total Value of Securities—100.02%<br> (cost $420,262,220)** |  | &nbsp;&nbsp;&nbsp;**400397268** |
| &nbsp;&nbsp;&nbsp;**Liabilities Net of Receivables and Other Assets—(0.02%)** |  | &nbsp;&nbsp;&nbsp;&nbsp; **(89572)** |
| &nbsp;&nbsp;&nbsp;**Net Assets Applicable to 88,497,717 Shares Outstanding — 100.00%** |  | &nbsp;&nbsp;**$400307696** |

---

<< Affiliated company.

---

| |
|:---|
| **Summary of abbreviations:** |
| ETF – Exchange-Traded Fund |

---

NQ- IV048 [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 Pathfinder Moderately Aggressive Series

- **b. EDGAR series identifier (if any):** S000020589

- **c. LEI of Series:** 5493001BXIDWVAAJIF49

**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:** $400495790.17

**Total Liabilities:** $115718.36

**Net Assets:** $400380071.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000057544 | 2.78%                | 0.21%                | -6.03%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1734620.19              | $9967406.86                                |
| Month 2  | $1502693.93              | $-600974.48                                |
| Month 3  | $814308.11               | $-26419786.10                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nomura Etf Trust                             | Nomura Etf Trust TRANSFORMATIONAL TECHNOLOGIES ETF          | CUSIP: 555927862<br>LEI: 2549000D4NFBOFE18T49 | Long             | EC               | RF                | US        |    286788 | NS      | $6513443.02   | 1.63%             |  |  |  | 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        |    243544 | NS      | $243544.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Limited-Term Bond Series                         | CUSIP: 46600H687<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |   3344920 | NS      | $15788022.68  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Etf Trust                             | Nomura Etf Trust FOCUSED LARGE GROWTH ETF                   | CUSIP: 555927409<br>LEI: 2549000D4NFBOFE18T49 | Long             | EC               | RF                | US        |    975803 | NS      | $24997340.61  | 6.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds                    | BlackRock Liquidity Funds FEDFUND INSTL                     | CUSIP: 09248U700<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    243544 | NS      | $243544.24    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Corporate Bond Series                            | CUSIP: 46600H307<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |  13763949 | NS      | $64277642.16  | 16.05%            |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP International Core Equity Series                 | CUSIP: 46600H562<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |   4807276 | NS      | $86819402.72  | 21.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Value Series                                     | CUSIP: 46600H760<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |   2728079 | NS      | $12440041.19  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Smid Cap Core Series                             | CUSIP: 46600H778<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |   1476198 | NS      | $20179633.22  | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP High Income Series                               | CUSIP: 46600H620<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |    724624 | NS      | $2101409.33   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Etf Trust                             | Nomura Etf Trust FOCUSED INTERNATIONAL CORE ETF             | CUSIP: 555927607<br>LEI: 2549000D4NFBOFE18T49 | Long             | EC               | RF                | US        |    363483 | NS      | $8794362.14   | 2.20%             |  |  |  | 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        |    243544 | NS      | $243544.36    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust                          | Goldman Sachs Financial Square Government Fund              | CUSIP: 38141W273<br>LEI: S2FHCT8U6D2VORP0J605 | Long             | STIV             | RF                | US        |    243544 | NS      | $243544.48    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Delaware VIP Trust                           | Nomura VIP Growth and Income Series                         | CUSIP: 246493472<br>LEI: 549300UTFWWV5UI8OM26 | Long             | EC               | RF                | US        |   1302671 | NS      | $52302253.46  | 13.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Science and Technology Series                    | CUSIP: 46600H588<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |    530418 | NS      | $17466664.74  | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivy Variable Insurance Portfolios            | Nomura VIP Core Equity Series                               | CUSIP: 46600H406<br>LEI: 72XHPUAYSOH6ROSGJT53 | Long             | EC               | RF                | US        |   6614079 | NS      | $87834968.77  | 21.94%            |  |  |  | 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